Document:

Exhibit 10.1(b)

    Schedule of Secured Convertible Notes (demand) issued by NCT Group, Inc.
    to Carole Salkind during the three months ended June 30, 2006

                                                               Conversion
     Issue Date         Due Date (a)         Principal          Price (b)
     ----------         -----------         ------------       -----------
      04/07/06           10/07/06         $   750,000            $0.0100
      04/21/06           10/21/06             550,000            $0.0100
      05/10/06           11/10/06             550,000            $0.0100
      05/25/06           11/25/06             550,000            $0.0100
      06/09/06           12/09/06             550,000            $0.0100
      06/23/06           12/23/06             550,000            $0.0100

                                        ----------------
                                          $ 3,500,000
                                        ================

     (a)  Note is payable  upon the earlier of demand or the due date  indicated
          above.
     (b)  Note conversion price will be the greater of: (i) the lowest last sale
          price of NCT's common stock  during the five-day  period  comprised of
          the date of the note,  date  preceding and three dates  following;  or
          (ii) the par value of NCT's  common  stock on the date the  conversion
          notice is delivered to NCT.Exhibit 10.2(b)

     Schedule of Secured Convertible Notes (refinancings after October 31, 2005)
     issued by NCT Group,  Inc. to Carole  Salkind during the three months ended
     June 30, 2006

                                                             Conversion
     Issue Date        Due Date           Principal           Price (a)
     ----------        --------          ------------         ----------
      04/07/06         10/07/06          $  4,633,723          $0.0100
      04/21/06         10/21/06             1,447,275          $0.0100
      05/10/06         11/10/06             2,230,279          $0.0100
      05/25/06         11/25/06               343,012          $0.0100
      06/09/06         12/09/06             2,650,000          $0.0100
      06/23/06         12/23/06             5,150,000          $0.0100

                                       ----------------
                                         $ 16,454,289
                                       ================

(a)  Note conversion price will be the greater of: (i) the lower last sale price
     of NCT's common  stock on the date of the note or the  preceding  date;  or
     (ii) the par value of NCT's common stock on the date the conversion  notice
     is delivered to NCT.Exhibit 10.3(b)

   Schedule of Warrants (new financings after October 31, 2005) issued by NCT
 Group, Inc. to Carole Salkind during the three months ended as of June 30, 2006

                                                                    Shares
    Grant Date     Expiration Date       Exercise Price(a)         Granted
    ----------     ---------------       -----------------       ------------
     04/21/06         04/21/11                $0.0100             19,250,000
     04/21/06         04/21/11                $0.0100             10,750,000

                                                                 -------------
                                                                  30,000,000
                                                                 =============

     (a)  Warrant exercise price will be the greater of: (i) the lower last sale
          price  of  NCT's  common  stock  on the  date of the  warrant  or date
          preceding; or (ii) the par value of NCT's common stock on the date the
          warrant is exercised.Exhibit 10.4(b)

     Schedule of Warrants  (refinancings  after  October 31, 2005) issued by NCT
     Group, Inc. to Carole Salkind during the three months ended June 30, 2006

                                                                  Shares
  Grant Date     Expiration Date       Exercise Price(a)         Granted
  ----------     ---------------       -----------------       ------------
   04/07/06         04/04/11               $0.0100              76,500,000
   04/21/06         04/21/11               $0.0100              24,000,000
   05/10/06         05/10/11               $0.0100              36,750,000
   05/25/06         05/25/11               $0.0100               5,750,000

                                                              -------------
                                                               143,000,000
                                                              =============

     (a)  Warrant exercise price will be the greater of: (i) the lower last sale
          price  of  NCT's  common  stock  on the  date of the  warrant  or date
          preceding; or (ii) the par value of NCT's common stock on the date the
          warrant is exercised.Exhibit 10.5(b)

     Schedule of 12% Secured Convertible Notes issued by NCT Group, Inc.
     to Carole Salkind during the three months ended June 30, 2006

                                                        Conversion
     Issue Date        Due Date        Principal         Price (a)
     ----------        --------      -------------       ---------
      04/21/06         10/21/06       $  649,392         $  0.0100

                                     -------------
                                      $  649,392
                                     =============

(a)  Note  conversion  price will be the  greater  of: (i) the lowest  last sale
     price of NCT's common stock  during the  five-day  period  comprised of the
     date of the note; the preceding date and three dates following; or (ii) the
     par  value of NCT's  common  stock on the  date the  conversion  notice  is
     delivered to NCT.Exhibit 10.6(b)

   Schedule of Secured Convertible Notes (refinancings after October 31, 2005)
   to Carole Salkind during the three months ended June 30, 2006

                                                                 Conversion
   Issue Date          Due Date            Principal              Price (a)
   ----------          --------          ------------             ---------
    04/07/06           10/07/06          $  1,164,838              $0.0100

                                       ----------------
                                         $  1,164,838

     (a)  Note conversion  price will be the greater of: (i) the lower last sale
          price of NCT's common  stock on the date of the note or the  preceding
          date;  or (ii) the par  value of  NCT's  common  stock on the date the
          conversion notice is delivered to NCT.Unassociated Document

    

      BEAR
        STEARNS ASSET BACKED SECURITIES I LLC

       

      Depositor

       

      EMC
        MORTGAGE CORPORATION

       

      Seller
        and Master Servicer

       

      and

       

      WELLS
        FARGO BANK, NATIONAL ASSOCIATION

       

      Trustee

       

      ____________________

       

      POOLING
        AND SERVICING AGREEMENT

       

      Dated
        as
        of July 1, 2006

       

      ________________________________________

       

      BEAR
        STEARNS MORTGAGE FUNDING TRUST 2006-AC1

       

      ASSET-BACKED
        CERTIFICATES, SERIES 2006-AC1

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      TABLE
        OF CONTENTS

       

      
        	
                ARTICLE
                  I 

              	
                DEFINITIONS

              
	
                Section
                  1.01

              	
                Defined
                  Terms.

              
	
                Section
                  1.02

              	
                Allocation
                  of Certain Interest Shortfalls.

              
	 	 
	
                ARTICLE
                  II 

              	
                CONVEYANCE
                  OF TRUST FUND REPRESENTATIONS AND WARRANTIES

              
	
                Section
                  2.01

              	
                Conveyance
                  of Trust Fund.

              
	
                Section
                  2.02

              	
                Acceptance
                  of the Mortgage Loans.

              
	
                Section
                  2.03

              	
                Representations,
                  Warranties and Covenants of the Master Servicer and the
                  Seller.

              
	
                Section
                  2.04

              	
                Representations
                  and Warranties of the Depositor.

              
	
                Section
                  2.05

              	
                Delivery
                  of Opinion of Counsel in Connection with Substitutions and
                  Repurchases.

              
	
                Section
                  2.06

              	
                Countersignature
                  and Delivery of Certificates.

              
	
                Section
                  2.07

              	
                Purposes
                  and Powers of the Trust.

              
	 	 
	
                ARTICLE
                  III 

              	
                ADMINISTRATION
                  AND SERVICING OF THE MORTGAGE LOANS

              
	
                Section
                  3.01

              	
                The
                  Master Servicer to act as Master Servicer.

              
	
                Section
                  3.02

              	
                Due-on-Sale
                  Clauses; Assumption Agreements.

              
	
                Section
                  3.03

              	
                Subservicers.

              
	
                Section
                  3.04

              	
                Documents,
                  Records and Funds in Possession of the Master Servicer To Be Held
                  for
                  Trustee.

              
	
                Section
                  3.05

              	
                Maintenance
                  of Hazard Insurance.

              
	
                Section
                  3.06

              	
                Presentment
                  of Claims and Collection of Proceeds.

              
	
                Section
                  3.07

              	
                Maintenance
                  of the Primary Mortgage Insurance Policies.

              
	
                Section
                  3.08

              	
                Fidelity
                  Bond, Errors and Omissions Insurance.

              
	
                Section
                  3.09

              	
                Realization
                  Upon Defaulted Mortgage Loans; Determination of Excess Liquidation
                  Proceeds and Realized Losses; Repurchases of Certain Mortgage
                  Loans.

              
	
                Section
                  3.10

              	
                Servicing
                  Compensation.

              
	
                Section
                  3.11

              	
                REO
                  Property.

              
	
                Section
                  3.12

              	
                Liquidation
                  Reports.

              
	
                Section
                  3.13

              	
                Books
                  and Records.

              
	
                Section
                  3.14

              	
                Annual
                  Statement as to Compliance.

              
	
                Section
                  3.15

              	
                Assessments
                  of Compliance and Attestation Reports.

              
	
                Section
                  3.16

              	
                Reports
                  Filed with Securities and Exchange Commission.

              
	
                Section
                  3.17

              	
                Intention
                  of the Parties and Interpretation.

              
	
                Section
                  3.18

              	
                UCC.

              
	
                Section
                  3.19

              	
                Optional
                  Purchase of Certain Mortgage Loans.

              
	
                Section
                  3.20

              	
                REMIC-Related
                  Covenants.

              
	
                Section
                  3.21

              	
                Trustee
                  to Retain Possession of Certain Insurance Policies and
                  Documents.

              
	 	 
	
                ARTICLE
                  IV 

              	
                [Reserved]

              
	 	 
	
                ARTICLE
                  V 

              	
                ACCOUNTS

              
	
                Section
                  5.01

              	
                Collection
                  of Mortgage Loan Payments; Protected Account.

              
	
                Section
                  5.02

              	
                Permitted
                  Withdrawals From the Protected Account.

              
	
                Section
                  5.03

              	
                Statements
                  to the Trustee

              
	
                Section
                  5.04

              	
                Collection
                  of Taxes; Assessments and Similar Items; Escrow
                  Accounts.

              
	
                Section
                  5.05

              	
                [Reserved].

              
	
                Section
                  5.06

              	
                [Reserved].

              
	
                Section
                  5.07

              	
                [Reserved].

              
	
                Section
                  5.08

              	
                Distribution
                  Account.

              
	
                Section
                  5.09

              	
                Permitted
                  Withdrawals and Transfers from the Distribution
                  Account.

              
	 	 
	
                ARTICLE
                  VI 

              	
                DISTRIBUTIONS
                  AND ADVANCES

              
	
                Section
                  6.01

              	
                Advances.

              
	
                Section
                  6.02

              	
                Compensating
                  Interest Payments.

              
	
                Section
                  6.03

              	
                REMIC
                  Distributions.

              
	
                Section
                  6.04

              	
                Distributions.

              
	
                Section
                  6.05

              	
                Allocation
                  of Realized Losses.

              
	
                Section
                  6.06

              	
                Monthly
                  Statements to Certificateholders.

              
	
                Section
                  6.07

              	
                REMIC
                  Designations and REMIC Distributions.

              
	
                Section
                  6.08

              	
                Reserve
                  Fund.

              
	
                Section
                  6.09

              	
                Class
                  P Certificate Account.

              
	
                Section
                  6.10

              	
                Class
                  A-3/A-4 Net WAC Pass-Through Amount; Class A-3/A-4 Net WAC Reserve
                  Account.

              
	 	 
	
                ARTICLE
                  VII 

              	
                THE
                  CERTIFICATES

              
	
                Section
                  7.01

              	
                The
                  Certificates.

              
	
                Section
                  7.02

              	
                Certificate
                  Register; Registration of Transfer and Exchange of
                  Certificates.

              
	
                Section
                  7.03

              	
                Mutilated,
                  Destroyed, Lost or Stolen Certificates.

              
	
                Section
                  7.04

              	
                Persons
                  Deemed Owners.

              
	
                Section
                  7.05

              	
                Access
                  to List of Certificateholders’ Names and Addresses.

              
	
                Section
                  7.06

              	
                Book-Entry
                  Certificates.

              
	
                Section
                  7.07

              	
                Notices
                  to Depository.

              
	
                Section
                  7.08

              	
                Definitive
                  Certificates.

              
	
                Section
                  7.09

              	
                Maintenance
                  of Office or Agency.

              
	 	 
	
                ARTICLE
                  VIII 

              	
                THE
                  DEPOSITOR AND THE MASTER SERVICER

              
	
                Section
                  8.01

              	
                Liabilities
                  of the Depositor and the Master Servicer.

              
	
                Section
                  8.02

              	
                Merger
                  or Consolidation of the Depositor or the Master
                  Servicer.

              
	
                Section
                  8.03

              	
                Indemnification
                  of the Trustee and the Master Servicer.

              
	
                Section
                  8.04

              	
                Limitations
                  on Liability of the Depositor, the Master Servicer and
                  Others.

              
	
                Section
                  8.05

              	
                Master
                  Servicer Not to Resign.

              
	
                Section
                  8.06

              	
                Successor
                  Master Servicer.

              
	
                Section
                  8.07

              	
                Sale
                  and Assignment of Master Servicing.

              
	 	 
	
                ARTICLE
                  IX 

              	
                DEFAULT;
                  TERMINATION OF MASTER SERVICER; TERMINATION
                  OF COMPANY

              
	
                Section
                  9.01

              	
                Events
                  of Default.

              
	
                Section
                  9.02

              	
                Trustee
                  to Act; Appointment of Successor.

              
	
                Section
                  9.03

              	
                Notification
                  to Certificateholders and Rating Agencies.

              
	
                Section
                  9.04

              	
                Waiver
                  of Defaults.

              
	 	 
	
                ARTICLE
                  X 

              	
                CONCERNING
                  THE TRUSTEE

              
	
                Section
                  10.01

              	
                Duties
                  of Trustee.

              
	
                Section
                  10.02

              	
                Certain
                  Matters Affecting the Trustee.

              
	
                Section
                  10.03

              	
                Trustee
                  Not Liable for Certificates or Mortgage Loans.

              
	
                Section
                  10.04

              	
                Trustee
                  May Own Certificates.

              
	
                Section
                  10.05

              	
                Trustee’s
                  Fees and Expenses.

              
	
                Section
                  10.06

              	
                Eligibility
                  Requirements for Trustee.

              
	
                Section
                  10.07

              	
                Insurance.

              
	
                Section
                  10.08

              	
                Resignation
                  and Removal of Trustee.

              
	
                Section
                  10.09

              	
                Successor
                  Trustee.

              
	
                Section
                  10.10

              	
                Merger
                  or Consolidation of Trustee.

              
	
                Section
                  10.11

              	
                Appointment
                  of Co-Trustee or Separate Trustee.

              
	
                Section
                  10.12

              	
                Tax
                  Matters.

              
	 	 
	
                ARTICLE
                  XI 

              	
                TERMINATION

              
	
                Section
                  11.01

              	
                Termination
                  upon Liquidation or Repurchase of all Mortgage Loans.

              
	
                Section
                  11.02

              	
                Final
                  Distribution on the Certificates.

              
	
                Section
                  11.03

              	
                Additional
                  Termination Requirements.

              
	 	 
	
                ARTICLE
                  XII 

              	
                MISCELLANEOUS
                  PROVISIONS

              
	
                Section
                  12.01

              	
                Amendment.

              
	
                Section
                  12.02

              	
                Recordation
                  of Agreement; Counterparts.

              
	
                Section
                  12.03

              	
                Governing
                  Law.

              
	
                Section
                  12.04

              	
                Intention
                  of Parties.

              
	
                Section
                  12.05

              	
                Notices.

              
	
                Section
                  12.06

              	
                Severability
                  of Provisions.

              
	
                Section
                  12.07

              	
                Assignment.

              
	
                Section
                  12.08

              	
                Limitation
                  on Rights of Certificateholders.

              
	
                Section
                  12.09

              	
                Inspection
                  and Audit Rights.

              
	
                Section
                  12.10

              	
                Certificates
                  Nonassessable and Fully Paid.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Exhibits
        

      
        	
                Exhibit
                  A-1

              	
                Form
                  of Class A Certificates

              
	
                Exhibit
                  A-2

              	
                Form
                  of Class M Certificates

              
	
                Exhibit
                  A-3

              	
                Form
                  of Class B Certificates

              
	
                Exhibit
                  A-4

              	
                Form
                  of Class C Certificates

              
	
                Exhibit
                  A-5

              	
                Form
                  of Class P Certificates

              
	
                Exhibit
                  A-6

              	
                Form
                  of Class R Certificates

              
	
                Exhibit
                  B

              	
                Mortgage
                  Loan Schedule

              
	
                Exhibit
                  C

              	
                Form
                  of Transfer Affidavit

              
	
                Exhibit
                  D

              	
                Form
                  of Transferor Certificate

              
	
                Exhibit
                  E

              	
                Form
                  of Investment Letter (Non-Rule 144A)

              
	
                Exhibit
                  F

              	
                Form
                  of Rule 144A and Related Matters Certificate

              
	
                Exhibit
                  G

              	
                Form
                  of Request for Release

              
	
                Exhibit
                  H

              	
                DTC
                  Letter of Representations

              
	
                Exhibit
                  I

              	
                Schedule
                  of Mortgage Loans with Lost Notes

              
	
                Exhibit
                  J

              	
                Form
                  of Custodial Agreement

              
	
                Exhibit
                  K

              	
                Form
                  of Servicer Back-Up Certification to Form 10-K
                  Certificate

              
	
                Exhibit
                  L

              	
                Form
                  of Mortgage Loan Purchase Agreement

              
	
                Exhibit
                  M

              	
                Form
                  of Trustee Back-Up Certification to Form 10-K
                  Certificate

              
	
                Exhibit
                  N

              	
                Servicing
                  Criteria to Be Addressed in Assessment of Compliance

              
	
                Exhibit
                  O

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

              
	
                Exhibit
                  P

              	
                Additional
                  Disclosure Notification

              
	
                Exhibit
                  Q

              	
                Loan
                  Level Format for Tape Input, Servicer Period Reporting

              
	
                Exhibit
                  R

              	Reporting
                Data for
                Defaulted Loans

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      POOLING
        AND SERVICING AGREEMENT, dated as of July 1, 2006, among BEAR STEARNS ASSET
        BACKED SECURITIES I LLC, a Delaware limited liability company, as depositor
        (the
“Depositor”), EMC MORTGAGE CORPORATION, a Delaware corporation, as seller (in
        such capacity, the “Seller”) and as master servicer (in such capacity, the
“Master Servicer”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national
        banking association, as trustee (in such capacity, the “Trustee”).

       

      PRELIMINARY
        STATEMENT

       

      The
        Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee
        in return for the Certificates.

       

      REMIC
        I

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Mortgage Loans and certain other related assets subject
        to
        this Agreement (other than the Reserve Fund and the Class A-3/A-4 Net WAC
        Reserve Account) as a REMIC (as defined herein) for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC I”. The Class
        R-1 Certificates will represent the sole class of Residual Interests (as
        defined
        herein) in REMIC I for purposes of the REMIC Provisions (as defined herein).
        The
        following table irrevocably sets forth the designation, the Uncertificated
        REMIC
        I Pass-Through Rate, the initial Uncertificated Principal Balance and, for
        purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the
        “latest possible maturity date” for each of the REMIC I Regular Interests (as
        defined herein). None of the REMIC I Regular Interests will be
        certificated.

       

      
        	
                Designation

              	 	
                Initial
                  Uncertificated Principal Balance

              	 	
                Uncertificated
                  REMIC I 

                Pass-Through
                  Rate

              	 	
                Latest
                  Possible Maturity Date(1)

              
	
                AA

              	 	
                $

              	
                241,458,305.52

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                A-1

              	 	
                $

              	
                750,000.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                A-2

              	 	
                $

              	
                70,000.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                A-3

              	 	
                $

              	
                1,447,980.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                M-1

              	 	
                $

              	
                59,130.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                M-2

              	 	
                $

              	
                30,800.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                M-3

              	 	
                $

              	
                14,780.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                M-4

              	 	
                $

              	
                12,320.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                B-1

              	 	
                $

              	
                11,090.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                B-2

              	 	
                $

              	
                8,620.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                B-3

              	 	
                $

              	
                12,320.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                B-4

              	 	
                $

              	
                14,780.00

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                ZZ

              	 	
                $

              	
                2,495,900.52

              	 	
                Variable(2)

              	 	
                August
                  25, 2036

              
	
                P

              	 	
                $

              	
                100.00

              	 	
                0.00%

              	 	
                August
                  25, 2036

              

      

      ___________________________

      
        
          
            	(1)	
                    For
                      purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                      the
                      Distribution Date in the month following the maturity date
                      for the
                      Mortgage Loan with the latest maturity date has been designated
                      as the
                      “latest possible maturity date” for each REMIC I Regular
                      Interest.

                  

          

        

      

      
        	
                (2)

              	
                Calculated
                  in accordance with the definition of “Uncertificated REMIC I Pass-Through
                  Rate” herein.

              

      

      

      REMIC
        II

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the REMIC I Regular Interests as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC II”.
        The Class R-2 Certificates will represent the sole class of Residual Interests
        in REMIC II for purposes of the REMIC Provisions. The following table
        irrevocably sets forth the designation, the Uncertificated REMIC II Pass-Through
        Rate, the initial Uncertificated Principal Balance and, for purposes of
        satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible
        maturity date” for each of the REMIC II Regular Interests (as defined herein).
        None of the REMIC II Regular Interests will be certificated.

       

      
        	
                Designation

              	 	
                Initial
                  Uncertificated

                Principal
                  Balance

              	 	
                Uncertificated
                  REMIC II 

                Pass-Through
                  Rate

              	 	
                Latest
                  Possible Maturity Date(1)

              
	
                A-1

              	 	
                $

              	
                75,000,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                A-2

              	 	
                $

              	
                7,000,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                A-3

              	 	
                $

              	
                144,798,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                M-1

              	 	
                $

              	
                5,913,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                M-2

              	 	
                $

              	
                3,080,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                M-3
                  

              	 	
                $

              	
                1,478,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                M-4
                  

              	 	
                $

              	
                1,232,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                B-1

              	 	
                $

              	
                1,109,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                B-2

              	 	
                $

              	
                862,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                B-3

              	 	
                $

              	
                1,232,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                B-4

              	 	
                $

              	
                1,478,000.00

              	 	
                (2)

              	 	
                August
                  25, 2036

              
	
                C

              	 	
                $

              	
                3,204,026.04

              	 	
                (2)
                  (3)

              	 	
                August
                  25, 2036

              
	
                P

              	 	
                $

              	
                100.00

              	 	
                0.00%

              	 	
                August
                  25, 2036

              

      

      ___________________________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date in the month following the maturity date for
                  the
                  Mortgage Loan with the latest maturity date has been designated
                  as the
                  “latest possible maturity date” for each REMIC II Regular
                  Interest.

              

      

      
        	
                (2)

              	
                Calculated
                  in accordance with the definition of “Uncertificated REMIC II Pass-Through
                  Rate” herein.

              

      

      
        	
                (3)

              	
                REMIC
                  II Regular Interest C will not accrue interest on its Uncertificated
                  Principal Balance, but will accrue interest at the related Uncertificated
                  REMIC II Pass-Through Rate on its Uncertificated Notional Amount
                  (as
                  defined herein) which shall equal the aggregate Uncertificated
                  Principal
                  Balance of the REMIC I Regular Interests (other than REMIC I Regular
                  Interest P).

              

      

      ___________________________

      

      

      REMIC
        III

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the REMIC II Regular Interests as a REMIC for federal income
        tax
        purposes, and such segregated pool of assets will be designated as “REMIC III”.
        The Class R-3 Certificates will represent the sole class of Residual Interests
        in REMIC III for purposes of the REMIC Provisions.

       

      The
        following table irrevocably sets forth the designation, Pass-Through Rate,
        Initial Certificate Principal Balance (or initial Uncertificated Principal
        Balance, in the case of the Class C Interest or Class P Interest) and, for
        purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the
        “latest possible maturity date” for each class of Certificates and interests
        that represents ownership of one or more of the Regular Interests (as defined
        herein) in REMIC III created hereunder.

       

      
        	
                Designation

              	 	
                Initial
                  Certificate or Uncertificated

                Principal
                  Balance

              	 	
                Pass-Through
                  Rate

              	 	
                Latest
                  Possible Maturity Date(1)

              
	
                A-1

              	 	
                $

              	
                75,000,000.00

              	 	
                Class
                  A-1 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                A-2

              	 	
                $

              	
                7,000,000.00

              	 	
                Class
                  A-2 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                A-3(2)

              	 	
                $

              	
                144,798,000.00

              	 	
                Class
                  A-3 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                A-4(3)

              	 	
                $

              	
                N/A(4)

              	 	
                Class
                  A-4 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                M-1

              	 	
                $

              	
                5,913,000.00

              	 	
                Class
                  M-1 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                M-2

              	 	
                $

              	
                3,080,000.00

              	 	
                Class
                  M-2 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                M-3
                  

              	 	
                $

              	
                1,478,000.00

              	 	
                Class
                  M-3 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                M-4
                  

              	 	
                $

              	
                1,232,000.00

              	 	
                Class
                  M-4 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                B-1

              	 	
                $

              	
                1,109,000.00

              	 	
                Class
                  B-1 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                B-2
                  

              	 	
                $

              	
                862,000.00

              	 	
                Class
                  B-2 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                B-3
                  

              	 	
                $

              	
                1,232,000.00

              	 	
                Class
                  B-3 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                B-4

              	 	
                $

              	
                1,478,000.00

              	 	
                Class
                  B-4 Pass-Through Rate

              	 	
                August
                  25, 2036

              
	
                Class
                  C Interest

              	 	
                $

              	
                3,204,026.04

              	 	
                (5)

              	 	
                August
                  25, 2036

              
	
                Class
                  P Interest

              	 	
                $

              	
                100.00

              	 	
                0.00%

              	 	
                August
                  25, 2036

              

      

      ___________________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date in the month following the maturity date for
                  the
                  Mortgage Loan with the latest maturity date has been designated
                  as the
                  “latest possible maturity date” for each Class of Class A, Class M and
                  Class B Certificates and the Class C Interest and the Class P
                  Interest.

              
	
                (2)

              	
                The
                  Class A-3 Certificates represent ownership of a Regular Interest
                  in REMIC
                  III, as well as the obligation to make payments in respect of Class
                  A-3/A-4 Net WAC Pass-Through Amounts to the Class A-3/A-4 Net WAC
                  Reserve
                  Account for distribution in respect of the Class A-4 Certificates,
                  which
                  obligation shall not be an interest in any REMIC but a contractual
                  obligation of the Holders of the Class A-3 Certificates. For federal
                  income tax purposes, the Regular Interest the ownership of which
                  is
                  represented by this Certificate shall accrue interest at the related
                  Uncertificated REMIC III Pass-Through Rate instead of the Pass-Through
                  Rate applicable to such Certificate. Any amount accrued on each
                  Distribution Date by Holders of this Certificate at the related
                  Pass-Through Rate which is in excess of, or less than, the amount
                  specified in the foregoing sentence for the Regular Interest the
                  ownership
                  of which is represented by this Certificate shall be treated in
                  accordance
                  with the provisions relating to Class A-3/A-4 Net WAC Pass-Through
                  Amounts in
                  Section 6.10.

              
	
                (3)

              	
                The
                  Class A-4 Certificates represent ownership of a Regular Interest
                  in REMIC
                  III, as well as the right to receive payments from the Class A-3/A-4
                  Net
                  WAC Reserve Account in respect of Class A-3/A-4 Net WAC Pass-Through
                  Amounts, which payments shall not be in respect of an interest
                  in any
                  REMIC. For federal income tax purposes, the Regular Interest the
                  ownership
                  of which is represented by the Class A-4 Certificates shall have
                  a
                  principal balance equal to the Certificate Principal Balance of
                  such
                  Certificates, but such Regular Interest shall not accrue interest
                  on its
                  principal balance but rather shall be entitled to interest on its
                  Uncertificated Notional Amount at its Uncertificated REMIC III
                  Pass-Through Rate. Any amount accrued on each Distribution Date
                  by Holders
                  of this Certificate at the related Pass-Through Rate which is in
                  excess
                  of, or less than, the amount specified in the foregoing sentence
                  for the
                  Regular Interest the ownership of which is represented by this
                  Certificate
                  shall be treated in accordance with the provisions relating to
                  Class
                  A-3/A-4 Net WAC Pass-Through Amounts in Section 6.10.

              
	
                (4)

              	
                The
                  Class A-4 Certificates do not have an initial Certificate Principal
                  Balance. The Class A-4 Certificates have an initial Notional Amount
                  of
                  $144,798,000.00, and for any subsequent Distribution Date, the
                  Class A-4
                  Certificates will have a Notional Amount equal to the Certificate
                  Principal Balance of the Class A-3 Certificates as of such Distribution
                  Date. For federal income tax purposes, the Class A-4 Certificates
                  will
                  have a Notional Amount equal to the Uncertificated Principal Balance
                  of
                  REMIC IV Regular Interest A-3.

              
	
                (5)

              	
                The
                  Class C Interest will not accrue interest on its Uncertificated
                  Principal
                  Balance, but will be entitled to 100% of the amounts distributed
                  on REMIC
                  II Regular Interest C. 

              

      

      

      

      REMIC
        IV

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Class C Interest as a REMIC for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC IV”. The Class
        R-4 Interest will represent the sole class of Residual Interests in REMIC
        IV for
        purposes of the REMIC Provisions.

       

      The
        following table sets forth the Class designation, Pass-Through Rate, Initial
        Certificate Principal Balance and, for purposes of satisfying Treasury
        Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for
        the indicated Class of Certificates that represents a Regular Interest in
        REMIC
        IV created hereunder:

       

      
        	
                Class
                  Designation

              	
                Pass-Through
                  Rate

              	
                Initial
                  Certificate Principal Balance

              	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                C

              	
                Variable(2)

              	
                $3,204,026.04

              	
                August
                  25, 2036

              

      

      _______________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date in the month following the maturity date for
                  the
                  Mortgage Loan with the latest maturity date has been designated
                  as the
                  “latest possible maturity date” for the Class C
                  Certificates.

              

      

      
        	
                (2)

              	
                The
                  Class C Certificates will receive 100% of the amounts received
                  in respect
                  of the Class C Interest.

              

      

       

      REMIC
        V

       

      As
        provided herein, the Trustee shall elect to treat the segregated pool of
        assets
        consisting of the Class P Interest as a REMIC for federal income tax purposes,
        and such segregated pool of assets will be designated as “REMIC V”. The Class
        R-5 Interest will represent the sole class of Residual Interests in REMIC
        V for
        purposes of the REMIC Provisions.

       

      The
        following table sets forth the Class designation, Pass-Through Rate, Initial
        Certificate Principal Balance and, for purposes of satisfying Treasury
        Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for
        the indicated Class of Certificates that represents a Regular Interest in
        REMIC
        V created hereunder:

       

      
        	
                Class
                  Designation

              	
                Pass-Through
                  Rate

              	
                Initial
                  Certificate Principal Balance

              	
                Latest
                  Possible

                Maturity
                  Date(1)

              
	
                P

              	
                0.00%

              	
                $
                  100.00

              	
                August
                  25, 2036

              

      

      _______________

      
        	
                (1)

              	
                For
                  purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
                  the
                  Distribution Date in the month following the maturity date for
                  the
                  Mortgage Loan with the latest maturity date has been designated
                  as the
                  “latest possible maturity date” for the Class P
                  Certificates.

              

      

      
        	
                (2)

              	
                The
                  Class P Certificates will receive 100% of the amounts received
                  in respect
                  of the Class P Interest.

              

      

       

      The
        Trust
        Fund shall be named, and may be referred to as, the “Bear Stearns Mortgage
        Funding Trust 2006-AC1.” The Certificates issued hereunder may be referred to as
“Asset-Backed Certificates Series 2006-AC1” (including for purposes of any
        endorsement or assignment of a Mortgage Note or Mortgage).

       

      In
        consideration of the mutual agreements herein contained, the Depositor, the
        Master Servicer, the Seller and the Trustee agree as follows:

       

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        I

      
 

      DEFINITIONS

       

      Section
        1.01  Defined
        Terms. 

       

      Whenever
        used in this Agreement, the following words and phrases, unless the context
        otherwise requires, shall have the following meanings:

       

      Accepted
        Servicing Practices:
        With
        respect to each Mortgage Loan, those mortgage servicing practices (including
        collection procedures) that are in accordance with all applicable statutes,
        regulations and prudent mortgage banking practices for similar mortgage
        loans.

       

      Account:
        The
        Distribution Account, the Reserve Fund, the Class A-3/A-4 Net WAC Reserve
        Account and any Protected Account.

       

      Additional
        Disclosure:
        As
        defined in Section 3.16. 

       

      Additional
        Form 10-D Disclosure:
        As
        defined in Section 3.16. 

       

      Additional
        Form 10-K Disclosure:
        As
        defined in Section 3.16. 

       

      Adjustable
        Rate Mortgage Loan:
        Each of
        the Mortgage Loans identified in the Mortgage Loan Schedule as having a Mortgage
        Rate that is subject to adjustment.

       

      Adjustment
        Date:
        With
        respect to each Adjustable Rate Mortgage Loan, the first day of the month
        in
        which the Mortgage Rate of an Adjustable Rate Mortgage Loan changes pursuant
        to
        the related Mortgage Note. The first Adjustment Date following the Cut-off
        Date
        as to each Adjustable Rate Mortgage Loan is set forth in the Mortgage Loan
        Schedule.

       

      Advance:
        An
        advance of delinquent payments of principal or interest in respect of a Mortgage
        Loan required to be made by the Master Servicer as provided in Section 6.01
        hereof.

       

      Agreement:
        This
        Pooling and Servicing Agreement and any and all amendments or supplements
        hereto
        made in accordance with the terms herein.

       

      Amount
        Held for Future Distribution:
        As to
        any Distribution Date, the aggregate amount held in the Protected Account
        at the
        close of business on the immediately preceding Determination Date on account
        of
        (i) all Scheduled Payments or portions thereof received in respect of the
        Mortgage Loans due after the related Due Period and (ii) Principal Prepayments,
        Liquidation Proceeds and Insurance Proceeds received in respect of such Mortgage
        Loans after the last day of the related Prepayment Period.

       

      Annual
        Statement of Compliance:
        As
        defined in Section 3.14.

       

      Applied
        Realized Loss Amount:
        With
        respect to any Distribution Date and a Class of Class A, Class M and Class
        B
        Certificates, the sum of the Realized Losses with respect to the Mortgage
        Loans
        which have been applied in reduction of the Certificate Principal Balance
        of a
        Class of Certificates pursuant to Section 6.05 of this Agreement which have
        not
        previously been reimbursed or reduced by any Subsequent Recoveries applied
        to
        such Applied Realized Loss Amount.

       

      Appraised
        Value:
        With
        respect to any Mortgage Loan originated in connection with a refinancing,
        the
        appraised value of the Mortgaged Property based upon the appraisal made at
        the
        time of such refinancing or, with respect to any other Mortgage Loan, the
        lesser
        of (x) the appraised value of the Mortgaged Property based upon the appraisal
        made by a fee appraiser at the time of the origination of the related Mortgage
        Loan, and (y) the sales price of the Mortgaged Property at the time of such
        origination.

       

      Assessment
        of Compliance:
        As
        defined in Section 3.15.

       

      Attesting
        Party:
        As
        defined in Section 3.15.

       

      Attestation
        Report:
        As
        defined in Section 3.15.

       

      Bankruptcy
        Code:
        Title
        11 of the United States Code.

       

      Basis
        Risk Shortfall Carry Forward Amount:
        With
        respect to any Distribution Date and any Class of Class A, Class M and Class
        B
        Certificates, an amount equal to the sum of (A) if the Pass-Through Rate
        for
        such Class for such Distribution Date is limited to the related Net Rate
        Cap,
        the excess, if any, of (a) the amount of Current Interest that such Class
        would
        have been entitled to receive on such Distribution Date had the Pass-Though
        Rate
        applicable to such Class not been reduced by the applicable Net Rate Cap
        on such
        Distribution Date, over (b) the amount of Current Interest that such Class
        received on such Distribution Date and (B) the Basis Risk Shortfall Carry
        Forward Amount for the previous Distribution Date not previously paid, together
        with interest thereon at a rate equal to the related Pass-Through Rate for
        the
        current Distribution Date.

       

      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 7.06).
        As of the Closing Date, each Class of Offered Certificates constitutes a
        Class
        of Book-Entry Certificates.

       

      Business
        Day:
        Any day
        other than (i) a Saturday or a Sunday, or (ii) a day on which banking
        institutions in The City of New York, New York, Columbia, Maryland, Minneapolis,
        Minnesota or the city in which the Corporate Trust Office of the Trustee
        or the
        principal office of the Master Servicer is located is authorized or obligated
        by
        law or executive order to be closed.

       

      Certificate:
        Any one
        of the certificates of any Class executed and authenticated by the Trustee
        in
        substantially the forms attached hereto as Exhibits A-1 through
        A-6.

       

      Certificateholder
        or Holder:
        The
        person in whose name a Certificate is registered in the Certificate Register
        (initially, Cede & Co., as nominee for the Depository, in the case of any
        Book-Entry Certificates).

       

      Certificate
        Owner:
        With
        respect to a Book-Entry Certificate, the Person that is the beneficial owner
        of
        such Book-Entry Certificate.

       

      Certificate
        Principal Balance:
        As to
        any Certificate (other than the Class A-4, Class C or Class R Certificates)
        and
        as of any Distribution Date, the Initial Certificate Principal Balance of
        such
        Certificate plus any Subsequent Recoveries added to the Certificate Principal
        Balance of such Certificate pursuant to Section 5.04(b), less the sum of
        (i) all
        amounts distributed with respect to such Certificate in reduction of the
        Certificate Principal Balance thereof on previous Distribution Dates pursuant
        to
        Section 5.04, and (ii) any Applied Realized Loss Amounts allocated to such
        Certificate on previous Distribution Dates. As to the Class C Certificates
        and
        as of any Distribution Date, an amount equal to the Uncertificated Principal
        Balance of the Class C Interest.

       

      Certificate
        Register:
        The
        register maintained pursuant to Section 7.02 hereof.

       

      Class:
        All
        Certificates bearing the same Class designation as set forth in Section 7.01
        hereof.

       

      Class
        A Certificate:
        Any of
        the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates.

       

      Class
        A Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the Principal
        Distribution Amount for such Distribution Date and (y) the greater of (I)
        the
        excess, if any, of (i) the aggregate Certificate Principal Balance of the
        Class
        A Certificates immediately prior to such Distribution Date, over (ii) the
        lesser
        of (a) the product of (1) 84.10% and (2) the aggregate Stated 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 after reduction for Realized
        Losses incurred during the related Due Period), and (b) the aggregate Stated
        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
        after reduction for Realized Losses incurred during the related Due Period)
        minus $1,231,930 and (II) the lesser of (i) $1,000 and (ii) the aggregate
        Certificate Principal Balance of the Class A Certificates on such Distribution
        Date prior to principal distributions on such Certificates.

       

      Class
        A-1 Certificate:
        Any
        Certificate designated as a “Class A-1 Certificate” on the face thereof, in the
        form of Exhibit A-1 hereto, representing the right to the Percentage Interest
        of
        distributions provided for the Class A-1 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        A-1 Pass-Through Rate:
        Shall
        mean on any Distribution Date, a fixed rate equal to 7.00% per annum, subject
        to
        a cap equal to the related Net Rate Cap for such Distribution Date.

       

      Class
        A-2 Certificate:
        Any
        Certificate designated as a “Class A-2 Certificate” on the face thereof, in the
        form of Exhibit A-1 hereto, representing the right to the Percentage Interest
        of
        distributions provided for the Class A-2 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        A-2 Pass-Through Rate:
        Shall
        mean on any Distribution Date, a fixed rate equal to 7.00% per annum, subject
        to
        a cap equal to the related Net Rate Cap for such Distribution Date.

       

      Class
        A-3 Certificate:
        Any
        Certificate designated as a “Class A-3 Certificate” on the face thereof, in the
        form of Exhibit A-1 hereto, representing the right to the Percentage Interest
        of
        distributions provided for the Class A-3 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class
        A-3/A-4
        Net
        WAC
        Pass-Through Amounts.

       

      Class
        A-3 Pass-Through Rate:
        Shall
        mean on any Distribution Date, One-Month LIBOR plus 0.550% per annum, with
        a
        maximum rate of 7.000% per annum and a minimum rate of 0.550% per annum,
        subject
        to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        A-3/A-4 Net WAC Pass-Through Amount:
        Shall
        mean, with respect to any Distribution Date, the excess, if any, of (A) the
        amount of interest payable on such Distribution Date to the Regular Interest
        the
        ownership of which is represented by the Class A-3 Certificates at the related
        Uncertificated REMIC III Pass-Through Rate, over (B) the amount of interest
        payable on such Distribution Date to the Class A-3 Certificates at the Class
        A-3
        Pass-Through Rate.

       

      Class
        A-3/A-4 Net WAC Reserve Account:
        Shall
        mean the separate trust account or subaccount created and maintained by the
        Trustee pursuant to Section 6.10(a) hereof.

       

      Class
        A-3/A-4 Net WAC Reserve Account Deposit:
        With
        respect to the Class A-3/A-4
        Net
        WAC
        Reserve Account, an amount equal to $5,000, which the Depositor shall deposit
        initially into the Class A-3/A-4 Net WAC Reserve Account pursuant to Section
        6.10(a) hereof.

       

      Class
        A-3/A-4 Target Rate:
        Shall
        mean (A) for any Distribution Date on or prior to the Optional Termination
        Date,
        7.00% per annum, and (B) for any Distribution Date thereafter, 7.50% per
        annum.

       

      Class
        A-4 Certificate:
        Any
        Certificate designated as a “Class A-4 Certificate” on the face thereof, in the
        form of Exhibit A-1 hereto, representing the right to the Percentage Interest
        of
        distributions provided for the Class A-4 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive
        Basis
        Risk Shortfall Carry Forward Amounts and (iii) the right to receive Class
        A-3/A-4 Net WAC Pass-Through Amounts.

       

      Class
        A-4 Pass-Through Rate:
        Shall
        mean on any Distribution Date, 6.450% per annum minus One-Month LIBOR, with
        a
        maximum rate of 6.450% per annum and a minimum rate of 0.00% per annum, subject
        to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        B Certificates:
        Any of
        the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

       

      Class
        B-1 Certificate:
        Any
        Certificate designated as a “Class B-1 Certificate” on the face thereof, in the
        form of Exhibit A-3 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class B-1 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        B-1 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 1.000% per annum
        and
        (2) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 1.500% per annum and (2) 11.00% per annum, in
        each
        case subject
        to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        B-1 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date), (2) the Certificate Principal Balance
        of the
        Class M-1 Certificates (after taking into account the payment of the Class
        M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        payment of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the payment of the Class M-3 Principal Distribution
        Amount on such Distribution Date) and (5) the Certificate Principal Balance
        of
        the Class B-1 Certificates immediately prior to such Distribution Date, over
        (b)
        the lesser of (1) the product of (x) 94.50% and (y) the aggregate Stated
        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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        B-2 Certificate:
        Any
        Certificate designated as a “Class B-2 Certificate” on the face thereof, in the
        form of Exhibit A-3 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class B-2 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        B-2 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 1.100% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 1.650% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        B-2 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date), (2) the Certificate Principal Balance
        of the
        Class M-1 Certificates (after taking into account the payment of the Class
        M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        payment of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the payment of the Class M-3 Principal Distribution
        Amount on such Distribution Date), (5) the Certificate Principal Balance
        of the
        Class B-1 Certificates (after taking into account the payment of the Class
        B-1
        Principal Distribution Amount on such Distribution Date) and (6) the Certificate
        Principal Balance of the Class B-2 Certificates immediately prior to such
        Distribution Date, over (b) the lesser of (1) the product of (x) 95.20% and
        (y)
        the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period), and (2) the aggregate Stated 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 after reduction for Realized Losses incurred
        during the related Due Period) minus $1,231,930. 

       

      Class
        B-3 Certificate:
        Any
        Certificate designated as a “Class B-3 Certificate” on the face thereof, in the
        form of Exhibit A-3 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class B-3 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        B-3 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 2.000% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 3.000% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        B-3 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date), (2) the Certificate Principal Balance
        of the
        Class M-1 Certificates (after taking into account the payment of the Class
        M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        payment of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the payment of the Class M-3 Principal Distribution
        Amount on such Distribution Date), (5) the Certificate Principal Balance
        of the
        Class B-1 Certificates (after taking into account the payment of the Class
        B-1
        Principal Distribution Amount on such Distribution Date), (6) the Certificate
        Principal Balance of the Class B-2 Certificates (after taking into account
        the
        payment of the Class B-2 Principal Distribution Amount on such Distribution
        Date) and (7) the Certificate Principal Balance of the Class B-3 Certificates
        immediately prior to such Distribution Date, over (b) the lesser of (1) the
        product of (x) 96.20% and (y) the aggregate Stated 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 after reduction for Realized Losses
        incurred during the related Due Period), and (2) the aggregate Stated 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 after reduction
        for
        Realized Losses incurred during the related Due Period) minus
        $1,231,930.

       

      Class
        B-4 Certificate:
        Any
        Certificate designated as a “Class B-4 Certificate” on the face thereof, in the
        form of Exhibit A-3 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class B-4 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        B-4 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 2.000% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 3.000% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        B-4 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date), (2) the Certificate Principal Balance
        of the
        Class M-1 Certificates (after taking into account the payment of the Class
        M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        payment of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        (after taking into account the payment of the Class M-3 Principal Distribution
        Amount on such Distribution Date), (5) the Certificate Principal Balance
        of the
        Class B-1 Certificates (after taking into account the payment of the Class
        B-1
        Principal Distribution Amount on such Distribution Date), (6) the Certificate
        Principal Balance of the Class B-2 Certificates (after taking into account
        the
        payment of the Class B-2 Principal Distribution Amount on such Distribution
        Date), (7) the Certificate Principal Balance of the Class B-3 Certificates
        (after taking into account the payment of the Class B-3 Principal Distribution
        Amount on such Distribution Date) and (8) the Certificate Principal Balance
        of
        the Class B-4 Certificates immediately prior to such Distribution Date, over
        (b)
        the lesser of (1) the product of (x) 97.40% and (y) the aggregate Stated
        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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        C Certificate:
        Any
        Certificate designated as a “Class C Certificate” on the face thereof, in the
        form of Exhibit A-4 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class C Certificates herein and evidencing
        (i) a
        Regular Interest in REMIC IV and (ii) the obligation to pay Basis Risk Shortfall
        Carry Forward Amounts.

       

      Class
        C Distribution Amount:
        With
        respect to any Distribution Date, the sum of (i) the Current Interest for
        the
        Class C Interest for such Distribution Date, (ii) any Overcollateralization
        Release Amount for such Distribution Date and (iii) without duplication,
        any
        Subsequent Recoveries not distributed to the Class A, Class M and Class B
        Certificates on such Distribution Date; provided, however that on any
        Distribution Date after the Distribution Date on which the Certificate Principal
        Balances of the Class A, Class M and Class B Certificates have been reduced
        to
        zero, the Class C Distribution Amount shall include the Overcollateralization
        Amount. For federal income tax purposes, the Class C Distribution Amount
        for the
        Class C Interest for any Distribution Date shall be an amount equal to 100%
        of
        the amounts distributed in respect of REMIC II Regular Interest C on such
        Distribution Date.

       

      Class
        C Interest:
        An
        uncertificated interest in the Trust Fund held by the Trustee on behalf of
        the
        Holders of the Class C Certificates, evidencing a Regular Interest in REMIC
        III
        for purposes of the REMIC Provisions.

       

      Class
        M Certificates:
        Any of
        the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates.

       

      Class
        M-1 Certificate:
        Any
        Certificate designated as a “Class M-1 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-1 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        M-1 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 0.320% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 0.480% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        M-1 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and (y) the excess, if any, of (a) the sum
        of (1)
        the aggregate Certificate Principal Balance of the Class A Certificates (after
        taking into account the distribution of the Class A Principal Distribution
        Amount on such Distribution Date) and (2) the Certificate Principal Balance
        of
        the Class M-1 Certificates immediately prior to such Distribution Date, over
        (b)
        the lesser of (1) the product of (x) 88.90% and (y) the aggregate Stated
        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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        M-2 Certificate:
        Any
        Certificate designated as a “Class M-2 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-2 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        M-2 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 0.390% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 0.585% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        M-2 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount and the Class M-1 Principal Distribution Amount
        and (y) the excess, if any, of (a) the sum of (1) the aggregate Certificate
        Principal Balance of the Class A Certificates (after taking into account
        the
        distribution of the Class A Principal Distribution Amount on such Distribution
        Date), (2) the Certificate Principal Balance of the Class M-1 Certificates
        (after taking into account the distribution of the Class M-1 Principal
        Distribution Amount on such Distribution Date) and (3) the Certificate Principal
        Balance of the Class M-2 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 91.40% and (y) the aggregate
        Stated 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        M-3 Certificate:
        Any
        Certificate designated as a “Class M-3 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-3 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        M-3 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 0.420% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 0.630% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        M-3 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount
        and
        the Class M-2 Principal Distribution Amount and (y) the excess, if any, of
        (a)
        the sum of (1) the aggregate Certificate Principal Balance of the Class A
        Certificates (after taking into account the distribution of the Class A
        Principal Distribution Amount on such Distribution Date), (2) the Certificate
        Principal Balance of the Class M-1 Certificates (after taking into account
        the
        distribution of the Class M-1 Principal Distribution Amount on such Distribution
        Date), (3) the Certificate Principal Balance of the Class M-2 Certificates
        (after taking into account the distribution of the Class M-2 Principal
        Distribution Amount on such Distribution Date) and (4) the Certificate Principal
        Balance of the Class M-3 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 92.60% and (y) the aggregate
        Stated 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        M-4 Certificate:
        Any
        Certificate designated as a “Class M-4 Certificate” on the face thereof, in the
        form of Exhibit A-2 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class M-4 Certificates as set forth herein
        and
        evidencing (i) a Regular Interest in REMIC III and (ii) the right to receive
        Basis Risk Shortfall Carry Forward Amounts.

       

      Class
        M-4 Pass-Through Rate:
        Shall
        mean (i) on any Distribution Date which occurs on or prior to the Optional
        Termination Date, the lesser of (1) One-Month LIBOR plus 0.500% per annum
        and
        (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the
        lesser
        of (1) One-Month LIBOR plus 0.750% per annum and (ii) 11.00% per annum, in
        each
        case subject to a cap equal to the related Net Rate Cap for such Distribution
        Date.

       

      Class
        M-4 Principal Distribution Amount:
        For any
        Distribution Date, an amount equal to the lesser of (x) the remaining Principal
        Distribution Amount for such Distribution Date after distribution of the
        Class A
        Principal Distribution Amount, the Class M-1 Principal Distribution Amount,
        the
        Class M-2 Principal Distribution Amount and the Class M-3 Principal Distribution
        Amount and (y) the excess, if any, of (a) the sum of (1) the aggregate
        Certificate Principal Balance of the Class A Certificates (after taking into
        account the distribution of the Class A Principal Distribution Amount on
        such
        Distribution Date), (2) the Certificate Principal Balance of the Class M-1
        Certificates (after taking into account the distribution of the Class M-1
        Principal Distribution Amount on such Distribution Date), (3) the Certificate
        Principal Balance of the Class M-2 Certificates (after taking into account
        the
        distribution of the Class M-2 Principal Distribution Amount on such Distribution
        Date), (4) the Certificate Principal Balance of the Class M-3 Certificates
        immediately prior to such Distribution Date and (5) the Certificate Principal
        Balance of the Class M-4 Certificates immediately prior to such Distribution
        Date, over (b) the lesser of (1) the product of (x) 93.60% and (y) the aggregate
        Stated 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
        after reduction for Realized Losses incurred during the related Due Period),
        and
        (2) the aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) minus $1,231,930.

       

      Class
        P Certificate:
        Any
        Certificate designated as a “Class P Certificate” on the face thereof, in the
        form of Exhibit A-5 hereto, representing the right to its Percentage Interest
        of
        distributions provided for the Class P Certificates as set forth herein and
        evidencing (i) a Regular Interest in REMIC V and (ii) the right to receive
        any
        Prepayment Charge Waiver Amounts.

       

      Class
        P Certificate Account:
        The
        account established and maintained by the Trustee pursuant to Section 6.09
        hereof.

       

      Class
        P Interest:
        An
        uncertificated interest in the Trust Fund held by the Trustee on behalf of
        the
        Holders of the Class P Certificates, evidencing a Regular Interest in REMIC
        III
        for purposes of the REMIC Provisions.

      

      Class
        R Certificate:
        Any of
        the Class R-1, Class R-2, Class R-3 or Class RX Certificates.

       

      Class
        R-1 Certificate:
        Any
        Certificate designated a “Class R-1 Certificate” on the face thereof, in the
        form set forth in Exhibit A-6 hereto, evidencing the Residual Interest in
        REMIC
        I and representing the right to the Percentage Interest of distributions
        provided for the Class R-1 Certificates as set forth herein.

       

      Class
        R-2 Certificate:
        Any
        Certificate designated a “Class R-2 Certificate” on the face thereof, in the
        form set forth in Exhibit A-6 hereto, evidencing the Residual Interest in
        REMIC
        II and representing the right to the Percentage Interest of distributions
        provided for the Class R-2 Certificates as set forth herein.

       

      Class
        R-3 Certificate:
        Any
        Certificate designated a “Class R-3 Certificate” on the face thereof, in the
        form set forth in Exhibit A-6 hereto, evidencing the Residual Interest in
        REMIC
        III and representing the right to the Percentage Interest of distributions
        provided for the Class R-3 Certificates as set forth herein.

       

      Class
        RX Certificate:
        Any
        Certificate designated a “Class RX Certificate” on the face thereof, in the form
        set forth in Exhibit A-6 hereto, evidencing the ownership of the Class R-4
        Interest and Class R-5 Interest and representing the right to the Percentage
        Interest of distributions provided for the Class RX Certificates as set forth
        herein.

       

      Closing
        Date:
        July
        31, 2006.

       

      Code:
        The
        Internal Revenue Code of 1986, including any successor or amendatory
        provisions.

       

      Compensating
        Interest:
        An
        amount, not to exceed the Servicing Fee, to be deposited in the Protected
        Account by the Master Servicer with respect to the payment of a Prepayment
        Interest Shortfall on a Mortgage Loan subject to this Agreement.

       

      Corporate
        Trust Office:
        With
        respect to the Trustee, the designated corporate trust office of the Trustee
        where at any particular time its corporate trust business with respect to
        this
        Agreement shall be administered, which office at the date of the execution
        of
        this agreement is located at 9062 Old Annapolis Road, Columbia, MD 21045,
        Attention: Corporate Trust Services, BSMF 2006-AC1. For purposes of certificate
        transfer purposes, such term shall mean the office or agency of the Trustee
        located at Wells Fargo Bank, N.A., Sixth Street and Marquette Avenue,
        Minneapolis, Minnesota 55479, Attention: Corporate Trust Services, BSMF
        2006-AC1.

       

      Corresponding
        Certificate:
        With
        respect to each REMIC II Regular Interest (other than REMIC II Regular Interests
        C and P), the Certificate with the corresponding designation.

       

      Corresponding
        Interest:
        With
        respect to each REMIC I Regular Interest (other than REMIC I Regular Interests
        AA and ZZ), the REMIC II Regular Interest with the corresponding designation.
        

       

      Current
        Interest:
        As of
        any Distribution Date, with respect to the Certificates and interests of
        each
        class (other than the Residual Interests and the Residual Certificates),
        (i) the
        interest accrued on the Certificate Principal Balance or Notional Amount
        or
        Uncertificated Notional Amount, as applicable, during the related Interest
        Accrual Period at the applicable Pass-Through Rate, plus any amount previously
        distributed with respect to interest for such Certificate or interest that
        has
        been recovered as a voidable preference by a trustee in bankruptcy minus
        (ii)
        the sum of (a) any Prepayment Interest Shortfall for such Distribution Date,
        to
        the extent not covered by Compensating Interest and (b) any Relief Act Interest
        Shortfalls during the related Due Period, provided, however, that for purposes
        of calculating Current Interest for any such class, amounts specified in
        clause
        (ii) hereof for any such Distribution Date shall be allocated first to the
        C
        Certificates, the Class C Interest and the Class R Certificates in reduction
        of
        amounts otherwise distributable to such Certificates and interest on such
        Distribution Date and then any excess shall be allocated to each Class of
        Class
        A, Class M and Class B Certificates pro
        rata
        based on
        the respective amounts of interest accrued pursuant to clause (i) hereof
        for
        each such Class on such Distribution Date.

       

      Current
        Report:
        The
        Current Report pursuant to Section 13 or 15(d) of the Exchange Act.

       

      Current
        Specified Enhancement Percentage:
        With
        respect to any Distribution Date, the percentage obtained by dividing (x)
        the
        sum of (i) the aggregate Certificate Principal Balance of the Class M
        Certificates and Class B Certificates and (ii) the Overcollateralization
        Amount,
        in each case prior to the distribution of the Principal Distribution Amount
        on
        such Distribution Date, by (y) the aggregate Stated Principal Balance of
        the
        Mortgage Loans as of the end 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 after reduction for Realized Losses incurred
        during the related Due Period).

       

      Custodial
        Agreement:
        An
        agreement, dated as of July 31, 2006, among the Depositor, the Seller, the
        Trustee, the Master Servicer and the Custodian in substantially the form
        of
        Exhibit J hereto.

       

      Custodian:
        Wells
        Fargo Bank, National Association, or any successor custodian appointed pursuant
        to the provisions hereof and the Custodial Agreement.

       

      Cut-off
        Date:
        The
        close of business on July 1, 2006.

       

      Cut-off
        Date Principal Balance:
        As to
        any Mortgage Loan, the unpaid principal balance thereof as of the close of
        business on the Cut-off Date after application of all Principal Prepayments
        received prior to the Cut-off Date and scheduled payments of principal due
        on or
        before the Cut-off Date, whether or not received, but without giving effect
        to
        any installments of principal received in respect of Due Dates after the
        Cut-off
        Date. The aggregate Cut-off Date Principal Balance of the Mortgage Loans
        is
        $246,386,026.04.

       

      Debt
        Service Reduction:
        With
        respect to any Mortgage Loan, a reduction by a court of competent jurisdiction
        in a proceeding under the Bankruptcy Code in the Scheduled Payment for such
        Mortgage Loan that became final and non-appealable, except such a reduction
        resulting from a Deficient Valuation or any other reduction that results
        in a
        permanent forgiveness of principal.

       

      Deficient
        Valuation:
        With
        respect to any Mortgage Loan, a valuation by a court of competent jurisdiction
        of the Mortgaged Property in an amount less than the then outstanding
        indebtedness under such Mortgage Loan, or any reduction in the amount of
        principal to be paid in connection with any Scheduled Payment that results
        in a
        permanent forgiveness of principal, which valuation or reduction results
        from an
        order of such court that is final and non-appealable in a proceeding under
        the
        Bankruptcy Code.

       

      Definitive
        Certificates:
        As
        defined in Section 7.06.

       

      Deleted
        Mortgage Loan:
        A
        Mortgage Loan replaced or to be replaced by a Replacement Mortgage
        Loan.

       

      Delinquency
        Event:
        A
        Delinquency Event shall have occurred and be continuing if at any time, (x)
        the
        percent equivalent of a fraction, the numerator of which is the aggregate
        Stated
        Principal Balance of the Mortgage Loans that are 60 days or more Delinquent
        (including for this purpose any such Mortgage Loans in bankruptcy or foreclosure
        and Mortgage Loans with respect to which the related Mortgaged Property is
        REO
        Property), and the denominator of which is the aggregate Stated Principal
        Balance of all of the Mortgage Loans as of the last day of the related Due
        Period exceeds (y) 44.05% of the Current Specified Enhancement
        Percentage.

       

      Delinquent:
        A
        Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to
        the terms of such Mortgage Loan by the close of business on the day such
        payment
        is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment
        has not been received by the close of business on the corresponding day of
        the
        month immediately succeeding the month in which such payment was due, or,
        if
        there is no such corresponding day (e.g., as when a 30-day month follows
        a
        31-day month in which a payment was due on the 31st day of such month), then
        on
        the last day of such immediately succeeding month. Similarly for “60 days
        delinquent,” “90 days delinquent” and so on. This method of determining
        delinquencies is also referred to as the OTS method.

       

      Denomination:
        With
        respect to each Certificate, the amount set forth on the face thereof as
        the
“Initial Principal Balance or initial notional amount of this
        Certificate”.

       

      Depositor:
        Bear
        Stearns Asset Backed Securities I LLC, a Delaware limited liability company,
        or
        its successor in interest.

       

      Depositor
        Information:
        As
        defined in Section 3.16(b).

       

      Depository:
        The
        initial Depository shall be The Depository Trust Company (“DTC”), the nominee of
        which is Cede & Co., or any other organization registered as a “clearing
        agency” pursuant to Section 17A of the Securities Exchange Act of 1934, as
        amended. 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(a)(5) of the Uniform Commercial Code of
        the State of New York.

       

      Depository
        Agreement:
        With
        respect to the Class of Book-Entry Certificates, the agreement between the
        Depositor signing on behalf of the Issuing Entity and the initial Depository,
        dated as of the Closing Date, substantially in the form of Exhibit
        H.

       

      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:
        With
        respect to any Distribution Date, the 15th day of the month of such Distribution
        Date or, if such 15th day is not a Business Day, the immediately preceding
        Business Day.

       

      Distribution
        Account:
        The
        separate Eligible Account created and maintained by the Trustee pursuant
        to
        Section 5.08 in the name of the Trustee for the benefit of the
        Certificateholders and designated “Wells Fargo Bank, Bank National Association,
        in trust for registered Holders of Bear Stearns Mortgage Funding Trust 2006-AC1,
        Asset-Backed Certificates, Series 2006-AC1” shall be held in trust for the
        Certificateholders for the uses and purposes set forth in this
        Agreement.

       

      Distribution
        Date:
        The
        25th day of each calendar month after the initial issuance of the Certificates,
        or if such 25th day is not a Business Day, the next succeeding Business Day,
        commencing in August 2006.

       

      Distribution
        Report:
        The
        Asset-Backed Issuer Distribution Report pursuant to Section 13 or 15(d) of
        the
        Exchange Act.

       

      Due
        Date:
        As to
        any Mortgage Loan, the date in each month on which the related Scheduled
        Payment
        is due, as set forth in the related Mortgage Note.

       

      Due
        Period:
        With
        respect to any Distribution Date, the period from the second day of the calendar
        month preceding the calendar month in which such Distribution Date occurs
        through close of business on the first day of the calendar month in which
        such
        Distribution Date occurs.

       

      EDGAR:
        As
        defined in Section 3.16.

       

      Eligible
        Account:
        Any of
        (i) an account or accounts maintained with a federal or state chartered
        depository institution or trust company, the long-term unsecured debt
        obligations and 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 debt obligations of such holding company, so long
        as
        Moody’s is not a Rating Agency) are rated by each Rating Agency in one of its
        two highest long-term and its highest short-term rating categories respectively,
        at the time any amounts are held on deposit therein, or (ii) an account or
        accounts in a depository institution or trust company in which such accounts
        are
        insured by the FDIC (to the limits established by the FDIC) and the uninsured
        deposits in which accounts are otherwise secured such that, as evidenced
        by an
        Opinion of Counsel delivered to the Trustee and to each Rating Agency, the
        Certificateholders have a claim with respect to the funds in such account
        or a
        perfected first priority security interest against any collateral (which
        shall
        be limited to Permitted Investments) securing such funds that is superior
        to
        claims of any other depositors or creditors of the depository institution
        or
        trust company in which such account is maintained, or (iii) a trust account
        or
        accounts maintained with the corporate trust department of a federal or state
        chartered depository institution or trust company having capital and surplus
        of
        not less than $50,000,000, acting in its fiduciary capacity or (iv) any other
        account acceptable to the Rating Agencies. Eligible Accounts may bear interest,
        and may include, if otherwise qualified under this definition, accounts
        maintained with the Trustee.

       

      EMC:
        EMC
        Mortgage Corporation, a Delaware corporation.

       

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

       

      ERISA
        Restricted Certificates:
        Any of
        the Class B-4, Class C, Class P and Residual Certificates.

       

      Event
        of Default:
        As
        defined in Section 9.01 hereof.

       

      Excess
        Cashflow:
        With
        respect to any Distribution Date, an amount, if any, equal to the sum of
        (a) the
        Remaining Excess Spread for such Distribution Date and (b) the
        Overcollateralization Release Amount for such Distribution Date.

       

      Excess
        Liquidation Proceeds:
        To the
        extent not required by law to be paid to the related Mortgagor, the excess,
        if
        any, of any Liquidation Proceeds with respect to a Mortgage Loan over the
        Stated
        Principal Balance of such Mortgage Loan and accrued and unpaid interest at
        the
        related Mortgage Rate through the last day of the month in which the Mortgage
        Loan has been liquidated.

       

      Excess
        Spread:
        With
        respect to any Distribution Date, the excess, if any, of (i) the Interest
        Funds
        for such Distribution Date over (ii) the sum of the Current Interest on the
        Class A, Class M and Class B Certificates and Interest Carry Forward Amounts
        on
        the Class A Certificates (other than Interest Carry Forward Amounts paid
        pursuant to Section 6.04(a)(3)(A)), in each case for such Distribution
        Date.

       

      Exchange
        Act:
        Securities Exchange Act of 1934, as amended.

       

      Exchange
        Act Reports:
        Any
        reports required to be filed pursuant to Section 3.16 of this
        Agreement.

       

      Exemption:
        Prohibited Transaction Exemption 90-30, as amended from time to
        time.

       

      Extra
        Principal Distribution Amount:
        With
        respect to any Distribution Date, the lesser of (i) the excess, if any, of
        the
        Overcollateralization Target Amount for such Distribution Date, over the
        Overcollateralization Amount for such Distribution Date (after giving effect
        to
        distributions of principal on the Certificates other than any Extra Principal
        Distribution Amount) and (ii) the Excess Spread for such Distribution
        Date.

       

      Fannie
        Mae:
        Fannie
        Mae (formally, Federal National Mortgage Association), or any successor
        thereto.

       

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

       

      Final
        Recovery Determination:
        With
        respect to any defaulted Mortgage Loan or any REO Property (other than a
        Mortgage Loan or REO Property purchased by EMC pursuant to or as contemplated
        by
        Section 2.03(c) or Section 11.01), a determination made by the Master Servicer
        that all Insurance Proceeds, Liquidation Proceeds and other payments or
        recoveries which the Master Servicer, in its reasonable good faith judgment,
        expects to be finally recoverable in respect thereof have been so recovered.
        The
        Trustee shall maintain records, based solely on information provided by the
        Master Servicer, of each Final Recovery Determination made thereby.

       

      Final
        Scheduled Distribution Date:
        With
        respect to the Certificates, August 25, 2036

       

      Fiscal
        Quarter:
        December 1 to February 29 (or the last day in such month), March 1 to May
        31,
        June 1 to August 31, or September to November 30, as applicable.

       

      Form
        8-K Disclosure Information:
        As
        defined in Section 3.16(a)(ii)(A).

       

      Freddie
        Mac:
        Freddie
        Mac (formally, The Federal Home Loan Mortgage Corporation), or any successor
        thereto.

       

      Global
        Certificate:
        Any
        Private Certificate registered in the name of the Depository or its nominee,
        beneficial interests in which are reflected on the books of the Depository
        or on
        the books of a Person maintaining an account with such Depository (directly
        or
        as an indirect participant in accordance with the rules of such
        depository).

       

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

       

      Indemnified
        Persons:
        The
        Trustee, the Master Servicer, the Trust Fund and their officers, directors,
        agents and employees and, with respect to the Trustee, any separate co-trustee
        and its officers, directors, agents and employees.

       

      Individual
        Certificate:
        Any
        Private Certificate registered in the name of the Holder other than the
        Depository or its nominee.

       

      Initial
        Certificate Principal Balance:
        With
        respect to any Certificate, the Certificate Principal Balance of such
        Certificate or any predecessor Certificate on the Closing Date.

       

      Insurance
        Policy:
        With
        respect to any Mortgage Loan included in the Trust Fund, any insurance policy
        or
        LPMI Policy, including all riders and endorsements thereto in effect with
        respect to such Mortgage Loan, including any replacement policy or policies
        for
        any Insurance Policies.

       

      Insurance
        Proceeds:
        Proceeds paid in respect of the Mortgage Loans pursuant to any Insurance
        Policy
        or any other insurance policy covering a Mortgage Loan, to the extent such
        proceeds are payable to the mortgagee under the Mortgage, the Master Servicer
        or
        the trustee under the deed of trust and are not applied to the restoration
        of
        the related Mortgaged Property or released to the Mortgagor in accordance
        with
        the procedures that the Master Servicer would follow in servicing mortgage
        loans
        held for its own account, in each case other than any amount included in
        such
        Insurance Proceeds in respect of Insured Expenses.

       

      Insured
        Expenses:
        Expenses covered by an Insurance Policy or any other insurance policy with
        respect to the Mortgage Loans.

       

      Interest
        Accrual Period:
        With
        respect to the Class A-1 Certificates and Class A-2 Certificates and any
        Distribution Date, the calendar month immediately preceding the calendar
        month
        in which such Distribution Date occurs. With respect to the Class A-3, Class
        A-4, Class M, and Class B Certificates) and any Distribution Date, the
        period from and including the 25th day of the calendar month preceding the
        month
        in which such Distribution Date occurs (or with respect to the Class M
        Certificates and Class B Certificates and the first Interest Accrual Period,
        the
        Closing Date) to and including the 24th
        day of
        the calendar month in which such Distribution Date occurs. The Class R
        Certificates and Class P Certificates are not entitled to distributions of
        interest and do not have an Interest Accrual Period. With respect to the
        Class C
        Certificates and the Class C Interest and any Distribution Date, the calendar
        month immediately preceding such Distribution Date. All calculations of interest
        on the Class A Certificates and Class C Certificates and the Class C Interest
        will be made on the basis of a 360-day year consisting of twelve 30-day months.
        All calculations of interest on the Class M Certificates and Class B
        Certificates will be made on the basis of the actual number of days elapsed
        in
        the related Interest Accrual Period.

       

      Interest
        Carry Forward Amount:
        As of
        any Distribution Date and with respect to each Class of Certificates (other
        than
        the Class C, Class P and Residual Certificates), the sum of (i) the excess
        of
        (a) the Current Interest for such Class with respect to such Distribution
        Date
        and any prior Distribution Dates over (b) the amount actually distributed
        to
        such Class of Certificates with respect to interest on such Distribution
        Dates
        and (ii) interest thereon (to the extent permitted by applicable law) at
        the
        applicable Pass-Through Rate for such Class for the related Interest Accrual
        Period including the Interest Accrual Period relating to such Distribution
        Date.

       

      Interest
        Determination Date:
        Shall
        mean the second LIBOR Business Day preceding the commencement of each Interest
        Accrual Period.

       

      Interest
        Funds:
        For any
        Distribution Date, (i) the sum, without duplication, of (a) all scheduled
        interest during the related Due Period with respect to the related Mortgage
        Loans less the Servicing Fee, the Trustee Fee and the LPMI Fee, if any, (b)
        all
        Advances relating to interest with respect to the related Mortgage Loans
        remitted by the Master Servicer on or prior to the related Remittance Date,
        (c)
        all Compensating Interest with respect to the related Mortgage Loans required
        to
        be remitted by the Master Servicer pursuant to this Agreement with respect
        to
        such Distribution Date, (d) Liquidation Proceeds and Subsequent Recoveries
        with
        respect to the related Mortgage Loans collected during the related Prepayment
        Period (to the extent such Liquidation Proceeds and Subsequent Recoveries
        relate
        to interest), (e) all amounts relating to interest with respect to each Mortgage
        Loan repurchased by the Seller pursuant to Sections 2.02 and 2.03 and by
        EMC
        pursuant to Section 3.19, (f) all amounts in respect of interest paid by
        the
        Master Servicer pursuant to Section 11.01, to the Distribution Account pursuant
        to this Agreement and (g) the interest portion of any proceeds received from
        the
        exercise of an Optional Termination pursuant to Section 11.01 minus (ii)
        all
        amounts required to be reimbursed pursuant to Sections 5.02 and 5.09 or as
        otherwise set forth in this Agreement.

       

      Issuing
        Entity:
        Bear
        Stearns Mortgage Funding Trust 2006-AC1.

       

      Latest
        Possible Maturity Date:
        August
        25, 2036, which is the Distribution Date in the month following the final
        scheduled maturity date of the Mortgage Loan in the Trust Fund having the
        latest
        scheduled maturity date as of the Cut-off Date. For purposes of the Treasury
        regulations under Sections 860A through 860G of the Code, the latest possible
        maturity date of each Regular Interest issued by REMIC I, REMIC II, REMIC
        III,
        REMIC IV and REMIC V shall be the Latest Possible Maturity Date.

       

      LIBOR
        Business Day:
        Shall
        mean a day on which banks are open for dealing in foreign currency and exchange
        in London and New York City.

       

      LIBOR
        Certificates:
        Any of
        the Class A-3, Class A-4, Class M and Class B Certificates.

       

      Liquidated
        Loan:
        With
        respect to any Distribution Date, a defaulted Mortgage Loan that has been
        liquidated through deed-in-lieu of foreclosure, foreclosure sale, trustee’s sale
        or other realization as provided by applicable law governing the real property
        subject to the related Mortgage and any security agreements and as to which
        the
        Master Servicer has made a Final Recovery Determination with respect
        thereto.

       

      Liquidation
        Proceeds:
        Amounts, other than Insurance Proceeds, received in connection with the partial
        or complete liquidation of a Mortgage Loan, whether through trustee’s sale,
        foreclosure sale or otherwise, or in connection with any condemnation or
        partial
        release of a Mortgaged Property and any other proceeds received with respect
        to
        an REO Property, less the sum of related unreimbursed Advances, Servicing
        Fees
        and Servicing Advances and all expenses of liquidation, including property
        protection expenses and foreclosure and sale costs, including court and
        reasonable attorneys fees.

       

      Loan-to-Value
        Ratio:
        The
        fraction, expressed as a percentage, the numerator of which is the original
        principal balance of the related Mortgage Loan and the denominator of which
        is
        the Appraised Value of the related Mortgaged Property.

       

      Loss
        Allocation Limitation:
        The
        meaning specified in Section 6.05(c) hereof.

       

      LPMI
        Fee:
        Shall
        mean the fee payable to the insurer for each Mortgage Loan subject to an
        LPMI
        Policy as set forth in such LPMI Policy and on the Mortgage Loan
        Schedule.

       

      LPMI
        Policy:
        A
        policy of mortgage guaranty insurance issued by an insurer meeting the
        requirements of Fannie Mae and Freddie Mac in which the Master Servicer is
        responsible for the payment of the LPMI Fee thereunder from collections on
        the
        related Mortgage Loan.

       

      Majority
        Class C Certificateholder:
        Shall
        mean the Holder of a 50.01% or greater Percentage Interest in the Class C
        Certificates.

       

      Marker
        Rate:
        With
        respect to REMIC II Regular Interest C and any Distribution Date, a per annum
        rate equal to two (2) times the weighted average of the Uncertificated REMIC
        I
        Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I
        Regular
        Interests AA and P), with the rate on each such REMIC I Regular Interest
        (other
        than REMIC I Regular Interest ZZ) subject to a cap equal to the Uncertificated
        REMIC II Pass-Through Rate for the Corresponding Interest for the purpose
        of
        this calculation for such Distribution Date, and with the rate on REMIC I
        Regular Interest ZZ subject to a cap of zero for the purpose of this
        calculation; provided, however, that solely for this purpose, the related
        cap
        with respect to each REMIC I Regular Interest (other than REMIC I Regular
        Interests AA, A-1, A-2, A-3, P and ZZ) shall be multiplied by a fraction,
        the
        numerator of which is 30 and the denominator of which is the actual number
        of
        days in the related Interest Accrual Period.

       

      Master
        Servicer:
        EMC
        Mortgage Corporation, in its capacity as master servicer, and its successors
        and
        assigns.

       

      Master
        Servicer Information:
        As
        defined in Section 3.16(b).

       

      Maximum
        Mortgage Rate:
        With
        respect to each Adjustable Rate Mortgage Loan, the percentage set forth in
        the
        related Mortgage Note as the maximum Mortgage 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®
        System:
        The
        system of recording transfers of Mortgages electronically maintained by
        MERS.

       

      MIN:
        The
        Mortgage Identification Number for Mortgage Loans registered with MERS on
        the
        MERS® System.

       

      Minimum
        Mortgage Rate:
        With
        respect to each Adjustable Rate Mortgage Loan, the percentage set forth in
        the
        related Mortgage Note as the minimum Mortgage Rate thereunder.

       

      MOM
        Loan:
        With
        respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage
        Loan, solely as nominee for the originator of such Mortgage Loan and its
        successors and assigns, at the origination thereof.

       

      Monthly
        Statement:
        The
        statement delivered pursuant to Section 6.06.

       

      Moody’s:
        Moody’s
        Investors Service, Inc., and any successor thereto.

       

      Mortgage:
        The
        mortgage, deed of trust or other instrument creating a first lien on or first
        priority ownership interest in an estate in fee simple in real 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 delivered to the Trustee or Custodian
        on its behalf to be added to the Mortgage File pursuant to this
        Agreement.

       

      Mortgage
        Loans:
        Such of
        the Mortgage Loans transferred and assigned to the Trustee pursuant to the
        provisions hereof, as from time to time are held as a part of the Trust Fund
        (including any REO Property), the mortgage loans so held being identified
        in the
        Mortgage Loan Schedule, notwithstanding foreclosure or other acquisition
        of
        title of the related Mortgaged Property. Any mortgage loan that was intended
        by
        the parties hereto to be transferred to the Trust Fund as indicated by such
        Mortgage Loan Schedule which is in fact not so transferred for any reason
        including, without limitation, a breach of the representation contained in
        Section 2.03(b)(v) hereof, shall continue to be a Mortgage Loan hereunder
        until
        the Purchase Price with respect thereto has been paid to the Trust
        Fund.

       

      Mortgage
        Loan Purchase Agreement:
        Shall
        mean the Mortgage Loan Purchase Agreement, dated as of July 31, 2006, between
        the Seller, as seller and the Depositor, as purchaser in the form attached
        hereto as Exhibit L.

       

      Mortgage
        Loan Purchase Price:
        The
        price, calculated as set forth in Section 11.01, to be paid in connection
        with
        the repurchase of the Mortgage Loans pursuant to Section 11.01.

       

      Mortgage
        Loan Schedule:
        The
        list of Mortgage Loans (as from time to time amended by the Seller to reflect
        the deletion of Deleted Mortgage Loans and the addition of Replacement Mortgage
        Loans pursuant to the provisions of this Agreement) transferred to the Trustee
        as part of the Trust Fund and from time to time subject to this Agreement,
        the
        initial Mortgage Loan Schedule being attached hereto as Exhibit B, setting
        forth
        the following information with respect to each Mortgage Loan:

       

      (a)  the
        city,
        state and zip code of the Mortgaged Property; 

       

      (b)  the
        property type;

       

      (c)  the
        Mortgage Interest Rate;

       

      (d)  the
        Servicing Fee Rate;

       

      (e)  the
        Master Servicing Fee Rate, if applicable;

       

      (f)  the
        LPMI
        Fee, if applicable;

       

      (g)  the
        Trustee Fee Rate, if applicable;

       

      (h)  the
        Net
        Rate;

       

      (i)  the
        maturity date;

       

      (j)  the
        stated original term to maturity;

       

      (k)  the
        stated remaining term to maturity;

       

      (l)  the
        original Principal Balance;

       

      (m)  the
        first
        payment date;

       

      (n)  the
        principal and interest payment in effect as of the Cut-off Date;

       

      (o)  the
        unpaid Principal Balance as of the Cut-off Date;

       

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

       

      (q)  the
        insurer of any Primary Mortgage Insurance Policy;

       

      (r)  the
        MIN
        with respect to each MOM Loan;

       

      (s)  the
        Gross
        Margin, if applicable;

       

      (t)  the
        next
        Adjustment Date, if applicable;

       

      (u)  the
        Maximum Mortgage Rate, if applicable;

       

      (v)  the
        Minimum Mortgage Rate, if applicable;

       

      (w)  the
        Periodic Rate Cap, if applicable; 

       

      (x)  the
        Loan
        Group, if applicable;

       

      (y)  a
        code
        indicating whether the Mortgage Loan is negatively amortizing;

       

      (z)  which
        Mortgage Loans adjust after an initial fixed-rate period of one, two, three,
        five, seven or ten years or any other period; 

       

      (aa)  the
        Prepayment Charge, if any;

       

      (bb)  lien
        position (e.g., first lien or second lien);

       

      (cc)  a
        code
        indicating whether the Mortgage Loan is has a balloon payment;

       

      (dd)  a
        code
        indicating whether the Mortgage Loan is an interest-only loan; 

       

      (ee)  the
        interest-only term, if applicable;

       

      (ff)  the
        Mortgage Loan Seller; and

       

      (gg)  the
        original amortization term.

       

      Such
        schedule also shall set forth for all of the Mortgage Loans, the total number
        of
        Mortgage Loans, the total of each of the amounts described under (n) and
        (j)
        above, the weighted average by principal balance as of the Cut-off Date of
        each
        of the rates described under (c) through (h) above, and the weighted average
        remaining term to maturity by unpaid principal balance as of the Cut-off
        Date.

       

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

       

      Mortgage
        Rate:
        The
        annual rate of interest borne by a Mortgage Note.

       

      Mortgaged
        Property:
        The
        underlying property securing a Mortgage Loan.

       

      Mortgagor:
        The
        obligors on a Mortgage Note.

       

      Net
        Mortgage Rate:
        As to
        each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage
        Rate less the sum of (i) the Servicing Fee Rate, (ii) the Trustee Fee Rate
        and
        (iii) the rate at which the LPMI Fee is calculated, if any.

       

      Net
        Rate Cap:
        With
        respect to the Class A-1 Certificates and Class A-2 Certificates and any
        Distribution Date, a per annum rate equal to the weighted average of the
        Net Mortgage Rates on the Mortgage Loans. With respect to the Class A-3
        Certificates and Class A-4 Certificates and any Distribution Date, an interest
        rate cap calculated based on an assumed certificate with a principal
        balance equal to the Certificate Principal Balance of the Class A-3 Certificates
        and a fixed pass-through rate of 7.00% per annum and a rate increase of 0.50%
        per annum after the Optional Termination Date. If the weighted average of
        the
        Net Mortgage Rates on the Mortgage Loans for any Distribution Date is less
        than
        7.00% per annum (or, after the Optional Termination Date, 7.50% per annum),
        the
        amount of the shortfall which would occur with respect to the assumed
        certificate for such Distribution Date will be allocated between the Class
        A-3
        Certificates and Class A-4 Certificates in proportion to their current
        entitlements to interest for such Distribution Date calculated without regard
        to
        this cap, and the Net Rate Cap for each such Class for such Distribution
        Date
        will be equal to the Pass-Through Rate for such Class for such Distribution
        Date
        (determined without regard to the related Net Rate Cap) reduced by the shortfall
        for such Distribution Date allocable to such Class as determined pursuant
        to
        this sentence. For the avoidance of doubt, the Net Rate Cap will not be
        applicable to the Class A-3 Certificates or Class A-4 Certificates for any
        Distribution Date on which the weighted average of the Net Mortgage Rates
        on the
        Mortgage Loans is equal to or greater than 7.00% per annum (or, after the
        Optional Termination Date, 7.50% per annum). 

       

      With
        respect to the Class M Certificates and Class B Certificates, a per annum
        rate
        equal to the weighted average of the Net Mortgage Rates on the Mortgage Loans
        as
        of the first day of the related Due Period, adjusted for the actual numbers
        of
        days elapsed in the Interest Accrual Period.

       

      For
        federal income tax purposes, the Net Rate Cap with respect to each of the
        Class
        A-3 Certificates and Class A-4 Certificates and any Distribution Date shall
        be
        equal to the Uncertificated REMIC III Pass-Through Rate for such Distribution
        Date for the Regular Interest the ownership of which is represented by such
        Certificate. For federal income tax purposes, the Net Rate Cap with respect
        to
        each Class A-1, Class A-2, Class M and Class B Certificate and any Distribution
        Date shall be a rate equal to the weighted average of the Uncertificated
        REMIC
        II Pass-Through Rate for such Distribution Date for the REMIC II Regular
        Interest for which such Certificate is the Corresponding Certificate.

      

      Non-Book-Entry
        Certificate:
        Any
        Certificate other than a Book-Entry Certificate.

       

      Nonrecoverable
        Advance:
        Any
        portion of an Advance previously made or proposed to be made by the Master
        Servicer pursuant to this Agreement, that, in the good faith judgment of
        the
        Master Servicer, will not or, in the case of a proposed advance, would not,
        be
        ultimately recoverable by it from the related Mortgagor, related Liquidation
        Proceeds, Insurance Proceeds or otherwise.

       

      Notional
        Amount:
        With
        respect to the Class A-4 Certificates, an amount equal to the Certificate
        Principal Balance of the Class A-3 Certificates. With
        respect to the Class C Certificates and any Distribution Date, an amount
        equal
        to the aggregate Stated Principal Balance of the Mortgage Loans. The initial
        Notional Amount of the Class C Certificates shall be $246,386,026.04. For
        federal income tax purposes, the Class C Certificates will have a Notional
        Amount equal to the Uncertificated Notional Amount of the Class C
        Interest.

       

      Offered
        Certificates:
        Any of
        the Class A-1, Class A-2, Class A-3, Class A-4, Class M-1, Class M-2, Class
        M-3,
        Class M-4, Class B-1, Class B-2 and Class B-3 Certificates. 

       

      Officer’s
        Certificate:
        A
        certificate (i) signed by the Chairman of the Board, the Vice Chairman of
        the
        Board, the President, a Vice President (however denominated), an Assistant
        Vice
        President, the Treasurer, the Secretary, or one of the assistant treasurers
        or
        assistant secretaries of the Depositor, the Seller or the Master Servicer
        (or
        any other officer customarily performing functions similar to those performed
        by
        any of the above designated officers and also to whom, with respect to a
        particular matter, such matter is referred because of such officer’s knowledge
        of and familiarity with a particular subject) or (ii), if provided for in
        this
        Agreement, signed by a Servicing Officer, as the case may be, and delivered
        to
        the Depositor, the Seller, the Master Servicer and/or the Trustee, as the
        case
        may be, as required by this Agreement.

       

      One-Month
        LIBOR:
        With
        respect to any Interest Accrual Period and the LIBOR Certificates, the rate
        determined by the Trustee on the related Interest Determination Date on the
        basis of the rate for U.S. dollar deposits for one month that appears on
        Telerate Screen Page 3750 as of 11:00 a.m. (London time) on such Interest
        Determination Date. If
        such
        rate does not appear on such page (or such other page as may replace that
        page
        on that service, or if such service is no longer offered, such other service
        for
        displaying One-Month LIBOR or comparable rates as may be reasonably selected
        by
        the Trustee), One-Month LIBOR for the applicable Interest Accrual Period
        will be
        the Reference Bank Rate. If no such quotations can be obtained by the Trustee
        and no Reference Bank Rate is available, One-Month LIBOR shall be One-Month
        LIBOR applicable to the preceding Interest Accrual Period. The establishment
        of
        One-Month LIBOR on each Interest Determination Date by the Trustee and the
        Trustee’s calculation of the rate of interest applicable to the LIBOR
        Certificates for the related Interest Accrual Period shall, in the absence
        of
        manifest error, be final and binding. One-Month
        LIBOR for the Class M Certificates and Class B Certificates and any Accrual
        Period shall be calculated as described above. One-Month LIBOR for the initial
        Accrual Period will be 5.35% with regard to the Class A-3 Certificates and
        Class
        A-4 Certificates. 

       

      Opinion
        of Counsel:
        A
        written opinion of counsel, who may be counsel for the Seller, the Depositor
        or
        the Master Servicer, reasonably acceptable to each addressee of such opinion;
        provided that with respect to Section 2.05, 8.05, 8.07 or 12.01, or the
        interpretation or application of the REMIC Provisions, such counsel must
        (i) in
        fact be independent of the Seller, Depositor and the Master Servicer, (ii)
        not
        have any direct financial interest in the Seller, Depositor or the Master
        Servicer or in any affiliate of either, and (iii) not be connected with the
        Seller, Depositor or the Master Servicer as an officer, employee, promoter,
        underwriter, trustee, partner, director or person performing similar
        functions.

       

      Optional
        Termination:
        The
        termination of the Trust created hereunder as a result of the purchase of
        all of
        the assets of the Trust and any related REO Property pursuant to Section
        11.01.

       

      Optional
        Termination Date:
        The
        Distribution Date on which the aggregate Stated Principal Balance of all of
        the Mortgage Loans is equal to or less than 20% of the aggregate Stated
        Principal Balance of all of the Mortgage Loans as of the Cut-off
        Date.

       

      Original
        Value:
        The
        value of the property underlying a Mortgage Loan based, in the case of the
        purchase of the underlying Mortgaged Property, on the lower of an appraisal
        or
        the sales price of such property or, in the case of a refinancing, on an
        appraisal.

       

      Originator:
        With
        respect to each Mortgage Loan, shall mean the originator set forth in the
        Mortgage Loan Schedule for such Mortgage Loan.

       

      OTS:
        The
        Office of Thrift Supervision.

       

      Outstanding:
        With
        respect to the Certificates as of any date of determination, all Certificates
        theretofore executed and authenticated under this Agreement except:

       

      (a) Certificates
        theretofore canceled by the Trustee or delivered to the Trustee for
        cancellation; and

       

      (b) Certificates
        in exchange for which or in lieu of which other Certificates have been executed
        and delivered by the Trustee pursuant to this Agreement.

       

      Outstanding
        Mortgage Loan:
        As of
        any date of determination, a Mortgage Loan with a Stated Principal Balance
        greater than zero that was not the subject of a Principal Prepayment in full,
        and that did not become a Liquidated Loan, prior to the end of the related
        Prepayment Period.

       

      Overcollateralization
        Amount:
        With
        respect to any Distribution Date, the excess, if any, of the aggregate Stated
        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
        after reduction for Realized Losses incurred during the related Due Period)
        over
        the aggregate Certificate Principal Balance of the Certificates (other than
        the
        Class C Certificates and the Class P Certificates) on such Distribution Date
        (after taking into account the payment of principal other than any Extra
        Principal Distribution Amount on such Certificates).

       

      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
        Overcollateralization 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 (with the amount pursuant to clause (y) deemed to be $0
        if the
        Overcollateralization Amount is less than or equal to the Overcollateralization
        Target Amount on that Distribution Date).

       

      Overcollateralization
        Target Amount:
        With
        respect to any Distribution Date (a) prior to the Stepdown Date, 1.30% of
        the
        aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
        Date,
        (b) on or after the Stepdown Date and if a Trigger Event is not in effect,
        the
        greater of (i) the lesser of (1) 1.30% of the aggregate Stated Principal
        Balance
        of the Mortgage Loans as of the Cut-off Date and (2) 2.60% of the then current
        aggregate Stated 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 after reduction for Realized Losses incurred during the related
        Due
        Period) and (ii) $1,231,930 or (c) on or after the Stepdown Date and if a
        Trigger Event is in effect, the Overcollateralization Target Amount for the
        immediately preceding Distribution Date.

       

      Ownership
        Interest:
        As to
        any Certificate, any ownership 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.

       

      Pass-Through
        Transfer:
        Any
        transaction involving either (1) a sale or other transfer of mortgage loans
        directly or indirectly to an issuing entity in connection with an issuance
        of
        publicly offered or privately placed, rated or unrated mortgage-backed
        securities or (2) an issuance of publicly offered or privately placed, rated
        or
        unrated securities, the payments on which are determined primarily by reference
        to one or more portfolios of residential mortgage loans.

       

      Pass-Through
        Rate:
        With
        respect to each Class of Certificates (other than the Class C Certificates
        and
        Class P Certificates), the Class A-1 Pass-Through Rate, Class A-2 Pass-Through
        Rate, Class A-3 Pass-Through Rate, Class A-4 Pass-Through Rate, Class M-1
        Pass-Through Rate, Class M-2 Pass-Through Rate, Class M-3 Pass-Through Rate,
        Class M43 Pass-Through Rate, Class B-1 Pass-Through Rate, Class B-2 Pass-Through
        Rate, Class B-3 Pass-Through Rate or Class B-4 Pass-Through Rate, as
        applicable.

       

      With
        respect to the Class C Interest, the Class C Interest shall not have a
        Pass-Through Rate, but the Current Interest for such interest and each
        Distribution Date shall be an amount equal to 100% of the amounts distributable
        to REMIC II Regular Interest C.

       

      With
        respect to the Class C Certificate,
        the
        Class C Certificate shall not have a Pass-Through Rate, but Current Interest
        for
        such Certificate and each Distribution Date shall be an amount equal to 100%
        of
        the amounts distributable to the Class C Interest for such Distribution
        Date.

       

      With
        respect to the Class P Certificate and the Class P Interest, 0.00% per
        annum.

       

      Percentage
        Interest:
        With
        respect to any Certificate of a specified Class, the Percentage Interest
        set
        forth on the face thereof or the percentage obtained by dividing the
        Denomination of such Certificate by the aggregate of the Denominations of
        all
        Certificates of such Class.

       

      Periodic
        Rate Cap:
        With
        respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor,
        the fixed percentage set forth in the related Mortgage Note, which is the
        maximum amount by which the Mortgage Rate for such Mortgage Loan may increase
        or
        decrease (without regard to the Maximum Mortgage Rate or the Minimum Mortgage
        Rate) on such Adjustment Date from the Mortgage Rate in effect immediately
        prior
        to such Adjustment Date.

       

      Permitted
        Investments:
        At any
        time, any one or more of the following obligations and securities:

       

      (i)  obligations
        of the United States or any agency thereof, provided such obligations are
        backed
        by the full faith and credit of the United States;

       

      (ii)  general
        obligations of or obligations guaranteed by any state of the United States
        or
        the District of Columbia receiving the highest long-term debt rating of each
        Rating Agency, or such lower rating as will not result in the downgrading
        or
        withdrawal of the ratings then assigned to the Certificates by each Rating
        Agency;

       

      (iii)  commercial
        or finance company paper which is then receiving the highest commercial or
        finance company paper rating of each Rating Agency, or such lower rating
        as will
        not result in the downgrading or withdrawal of the ratings then assigned
        to the
        Certificates by each Rating Agency;

       

      (iv)  certificates
        of deposit, demand or time deposits, or bankers’ acceptances issued by any
        depository institution or trust company incorporated under the laws of the
        United States or of any state thereof and subject to supervision and examination
        by federal and/or state banking authorities (including the Trustee in its
        commercial banking capacity), provided that the commercial paper and/or long
        term unsecured debt obligations of such depository institution or trust company
        are then rated one of the two highest long-term and the highest short-term
        ratings of each such Rating Agency for such securities, or such lower ratings
        as
        will not result in the downgrading or withdrawal of the rating then assigned
        to
        the Certificates by any Rating Agency;

       

      (v)  demand
        or
        time deposits or certificates of deposit issued by any bank or trust company
        or
        savings institution to the extent that such deposits are fully insured by
        the
        FDIC;

       

      (vi)  guaranteed
        reinvestment agreements issued by any bank, insurance company or other
        corporation containing, at the time of the issuance of such agreements, such
        terms and conditions as will not result in the downgrading or withdrawal
        of the
        rating then assigned to the Certificates by any such Rating Agency;

       

      (vii)  repurchase
        obligations with respect to any security described in clauses (i) and (ii)
        above, in either case entered into with a depository institution or trust
        company (acting as principal) described in clause (iv) above;

       

      (viii)  securities
        (other than stripped bonds, stripped coupons or instruments sold at a purchase
        price in excess of 115% of the face amount thereof) bearing interest or sold
        at
        a discount issued by any corporation incorporated under the laws of the United
        States or any state thereof which, at the time of such investment, have one
        of
        the two highest long term ratings of each Rating Agency (except if the Rating
        Agency is Moody’s, such rating shall be the highest commercial paper rating of
        Moody’s for any such securities), or such lower rating as will not result in the
        downgrading or withdrawal of the rating then assigned to the Certificates
        by any
        Rating Agency, as evidenced by a signed writing delivered by each Rating
        Agency;

       

      (ix)  interests
        in any money market fund (including any such fund managed or advised by the
        Trustee or Master Servicer or any affiliate thereof) which at the date of
        acquisition of the interests in such fund and throughout the time such interests
        are held in such fund has the highest applicable long term rating by each
        Rating
        Agency rating such fund or such lower rating as will not result in the
        downgrading or withdrawal of the ratings then assigned to the Certificates
        by
        each Rating Agency;

       

      (x)  short
        term investment funds sponsored by any trust company or banking association
        incorporated under the laws of the United States or any state thereof (including
        any such fund managed or advised by the Trustee or any affiliate thereof)
        which
        on the date of acquisition has been rated by each Rating Agency in their
        respective highest applicable rating category or such lower rating as will
        not
        result in the downgrading or withdrawal of the ratings then assigned to the
        Certificates by each Rating Agency; and

       

      (xi)  such
        other investments having a specified stated maturity and bearing interest
        or
        sold at a discount acceptable to each Rating Agency as will not result in
        the
        downgrading or withdrawal of the rating then assigned to the Certificates
        by any
        Rating Agency, as evidenced by a signed writing delivered by each Rating
        Agency;

       

      provided,
        that no such instrument shall be a Permitted Investment if such instrument
        (i)
        evidences the right to receive interest only payments with respect to the
        obligations underlying such instrument, (ii) is purchased at a premium or
        (iii)
        is purchased at a deep discount; provided further that no such instrument
        shall
        be a Permitted Investment (A) if such instrument evidences principal and
        interest payments derived from obligations underlying such instrument and
        the
        interest payments with respect to such instrument provide a yield to maturity
        of
        greater than 120% of the yield to maturity at par of such underlying
        obligations, or (B) if it may be redeemed at a price below the purchase price
        (the foregoing clause (B) not to apply to investments in units of money market
        funds pursuant to clause (vi) above); provided further that no amount
        beneficially owned by any REMIC may be invested in investments (other than
        money
        market funds) treated as equity interests for federal income tax purposes,
        unless the Trustee shall receive an Opinion of Counsel, at the expense of
        the
        Trustee, to the effect that such investment will not adversely affect the
        status
        of any such REMIC as a REMIC under the Code or result in imposition of a
        tax on
        any such REMIC. Permitted Investments that are subject to prepayment or call
        may
        not be purchased at a price in excess of par.

       

      Permitted
        Transferee:
        Any
        Person (x) other than (i) the United States, any State or political subdivision
        thereof, any possession of the United States or any agency or instrumentality
        of
        any of the foregoing, (ii) a foreign government, International Organization
        or
        any agency or instrumentality of either of the foregoing, (iii) an organization
        (except certain farmers’ cooperatives described in Section 521 of the Code) that
        is exempt from tax imposed by Chapter 1 of the Code (including the tax imposed
        by Section 511 of the Code on unrelated business taxable income) on any excess
        inclusions (as defined in Section 860E(c)(1) of the Code) with respect to
        any
        Residual Certificate, (iv) rural electric and telephone cooperatives described
        in Section 1381(a)(2)(C) of the Code or (v) an electing large partnership
        within
        the meaning of Section 775(a) of the Code, (y) that is a citizen or resident
        of
        the United States, a corporation, partnership (other than a partnership that
        has
        any direct or indirect foreign partners) or other entity (treated as a
        corporation or a partnership for federal income tax purposes), created or
        organized in or under the laws of the United States, any State thereof or
        the
        District of Columbia, an estate whose income 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 or if it has a valid election in effect under applicable U.S.
        Treasury regulations to be treated as a United States person and (z) other
        than
        any other Person so designated by the Trustee based upon an Opinion of Counsel
        addressed to the Trustee (which shall not be an expense of the Trustee) that
        states that the Transfer of an Ownership Interest in a Residual Certificate
        to
        such Person may cause REMIC I, REMIC II, REMIC III, REMIC IV or REMIC V to
        fail
        to qualify as a REMIC at any time that any Certificates are Outstanding.
        The
        terms “United States,” “State” and “International Organization” shall have the
        meanings set forth in Section 7701 of the Code or successor provisions. A
        corporation will not be treated as an instrumentality of the United States
        or of
        any State or political subdivision thereof for these purposes if all of its
        activities are subject to tax and, with the exception of Freddie Mac, a majority
        of its board of directors is not selected by such government unit.

       

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

       

      Prepayment
        Assumption:
        The
        applicable rate of prepayment, as described in the Prospectus
        Supplement.

       

      Prepayment
        Charge:
        Any
        prepayment premium, penalty or charge payable by a Mortgagor in connection
        with
        any Principal Prepayment on a Mortgage Loan pursuant to the terms of the
        related
        Mortgage Note.

       

      Prepayment
        Charge Waiver Amount:
        Any
        amount paid by the Master Servicer to the Trustee in respect of waived
        Prepayment Charges pursuant to Section 5.01(a).

       

      Prepayment
        Interest Excess:
        With
        respect to any Distribution Date, for each Mortgage Loan that was the subject
        of
        a Principal Prepayment in full or in part during the portion of the related
        Prepayment Period occurring between the first day of the calendar month in
        which
        such Distribution Date occurs and the Determination Date of the calendar
        month
        in which such Distribution Date occurs, an amount equal to interest (to the
        extent received) at the applicable Net Mortgage Rate on the amount of such
        Principal Prepayment for the number of days commencing on the first day of
        the
        calendar month in which such Distribution Date occurs and ending on the last
        date through which interest is collected from the related
        Mortgagor.

       

      Prepayment
        Interest Shortfall:
        With
        respect to any Distribution Date, for each Mortgage Loan that was the subject
        of
        a partial Principal Prepayment, or a Principal Prepayment in full during
        the
        related Prepayment Period, or that became a Liquidated Loan during the prior
        calendar month, (other than a Principal Prepayment in full resulting from
        the
        purchase of a Mortgage Loan pursuant to Section 2.02, 2.03, 3.19 or 11.01
        hereof), the amount, if any, by which (i) one month’s interest at the applicable
        Net Mortgage Rate on the Stated Principal Balance of such Mortgage Loan
        immediately prior to such prepayment (or liquidation) or in the case of a
        partial Principal Prepayment on the amount of such prepayment (or liquidation
        proceeds) exceeds (ii) the amount of interest paid or collected in connection
        with such Principal Prepayment or such liquidation proceeds less the sum
        of (a)
        the Servicing Fee, (b) the Trustee Fee and (c) the LPMI Fee, if
        any.

       

      Prepayment
        Period:
        As to
        any Distribution Date, the period commencing on the 16th
        day of
        the month prior to the month in which the related Distribution Date occurs
        and
        ending on the 15th
        day of
        the month in which such Distribution Date occurs.

       

      Primary
        Mortgage Insurance Policy:
        Any
        primary mortgage guaranty insurance policy issued in connection with a Mortgage
        Loan which provides compensation to a Mortgage Note holder in the event of
        default by the obligor under such Mortgage Note or the related security
        instrument, if any or any replacement policy therefor through the related
        Interest Accrual Period for such Class relating to a Distribution
        Date.

       

      Principal
        Distribution Amount:
        With
        respect to each Distribution Date, an amount equal to (x) the Principal Funds
        for such Distribution Date plus (y) any Extra Principal Distribution Amount
        for
        such Distribution Date, less (z) any Overcollateralization Release
        Amount.

       

      Principal
        Funds:
        With
        respect to any Distribution Date, (i) the sum, without duplication, of (a)
        all
        scheduled principal collected on the Mortgage Loans during the related Due
        Period, (b) all Advances relating to principal made with respect to the Mortgage
        Loans remitted by the Master Servicer on or prior to the Remittance Date,
        (c)
        Principal Prepayments with respect to the Mortgage Loans exclusive of Prepayment
        Charges or penalties collected during the related Prepayment Period, (d)
        the
        Stated Principal Balance of each Mortgage Loan that was repurchased by the
        Seller pursuant to Sections 2.02 or 2.03 or by EMC pursuant to Section 3.19,
        (e)
        the aggregate of all Substitution Adjustment Amounts with respect to the
        Mortgage Loans for the related Determination Date in connection with the
        substitution of related Mortgage Loans pursuant to Section 2.03(d), (e) all
        Liquidation Proceeds and Subsequent Recoveries with respect to the Mortgage
        Loans collected during the related Prepayment Period (to the extent such
        Liquidation Proceeds and Subsequent Recoveries relate to principal) and remitted
        by the Master Servicer to the Distribution Account pursuant to this Agreement
        and (f) amounts in respect of principal paid by the Majority Class C
        Certificateholder pursuant to Section 11.01 minus (ii) all related amounts
        required to be reimbursed pursuant to Sections 5.02 and 5.09 or as otherwise
        set
        forth in this Agreement.

       

      Principal
        Prepayment:
        Any
        Mortgagor payment or other recovery of (or proceeds with respect to) principal
        on a Mortgage Loan (including loans purchased or repurchased under Sections
        2.02, 2.03, 3.19 and 11.01 hereof) that is received in advance of its scheduled
        Due Date and is not accompanied by an amount as to interest representing
        scheduled interest due on any date or dates in any month or months subsequent
        to
        the month of prepayment. Partial Principal Prepayments shall be applied by
        the
        Master Servicer in accordance with the terms of the related Mortgage
        Note.

       

      Principal
        Remittance Amount:
        With
        respect to each Distribution Date, the sum of the amounts listed in clauses
        (a)
        through (e) of the definition of Principal Funds.

       

      Private
        Certificates:
        Any of
        the Class B-4, Class C, Class P and Class R Certificates.

       

      Prospectus
        Supplement:
        The
        Prospectus Supplement dated July 27, 2006 relating to the public offering
        of the
        Offered Certificates.

       

      Protected
        Account:
        The
        account established and maintained by the Master Servicer with respect to
        receipts on the Mortgage Loans and REO Property in accordance with Section
        5.01
        hereof or by the related Servicer in accordance with the related Servicing
        Agreement.

       

      PUD:
        A
        Planned Unit Development.

       

      Purchase
        Price:
        With
        respect to any Mortgage Loan (x) required to be repurchased by the Seller
        pursuant to Section 2.02 or 2.03 hereof or (y) that EMC has a right to purchase
        pursuant to Section 3.19 hereof, an amount equal to the sum of (i) 100% of
        the
        outstanding principal balance of the Mortgage Loan as of the date of such
        purchase plus (ii) accrued interest thereon at the applicable Mortgage Rate
        through the first day of the month in which the Purchase Price is to be
        distributed to Certificateholders, reduced by any portion of the Servicing
        Fee,
        Servicing Advances and Advances payable to the purchaser of the Mortgage
        Loan
        plus and (iii) any costs and damages (if any) incurred by the Trust in
        connection with any violation of such Mortgage Loan of any predatory lending
        laws.

       

      Rating
        Agency:
        Each of
        Moody’s and S&P. If any such organization or its successor is no longer in
        existence, “Rating Agency” shall be a nationally recognized statistical rating
        organization, or other comparable Person, designated by the Depositor, notice
        of
        which designation shall be given to the Trustee. References herein to a given
        rating category of a Rating Agency shall mean such rating category without
        giving effect to any modifiers.

       

      Realized
        Loss:
        With
        respect to each Mortgage Loan as to which a Final Recovery Determination
        has
        been made, an amount (not less than zero) equal to (i) the unpaid principal
        balance of such Mortgage Loan as of the commencement of the calendar month
        in
        which the Final Recovery Determination was made, plus (ii) accrued interest
        from
        the Due Date as to which interest was last paid by the Mortgagor through
        the end
        of the calendar month in which such Final Recovery Determination was made,
        calculated in the case of each calendar month during such period (A) at an
        annual rate equal to the annual rate at which interest was then accruing
        on such
        Mortgage Loan and (B) on a principal amount equal to the Stated Principal
        Balance of such Mortgage Loan as of the close of business on the Distribution
        Date during such calendar month, minus (iii) the proceeds, if any, received
        in
        respect of such Mortgage Loan during the calendar month in which such Final
        Recovery Determination was made, net of amounts that are payable therefrom
        to
        the Master Servicer pursuant to this Agreement. In addition, to the extent
        the
        Master Servicer receives Subsequent Recoveries with respect to any Mortgage
        Loan, the amount of the Realized Loss with respect to that Mortgage Loan
        will be
        reduced to the extent such recoveries are distributed to any Class of
        Certificates or applied to increase Excess Spread on any Distribution
        Date.

       

      With
        respect to any REO Property as to which a Final Recovery Determination has
        been
        made, an amount (not less than zero) equal to (i) the unpaid principal balance
        of the related Mortgage Loan as of the date of acquisition of such REO Property
        on behalf of REMIC I, plus (ii) accrued interest from the Due Date as to
        which
        interest was last paid by the Mortgagor in respect of the related Mortgage
        Loan
        through the end of the calendar month immediately preceding the calendar
        month
        in which such REO Property was acquired, calculated in the case of each calendar
        month during such period (A) at an annual rate equal to the annual rate at
        which
        interest was then accruing on the related Mortgage Loan and (B) on a principal
        amount equal to the Stated Principal Balance of the related Mortgage Loan
        as of
        the close of business on the Distribution Date during such calendar month,
        plus
        (iii) 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 Final Recovery Determination
        was
        made, minus (iv) the aggregate of all unreimbursed Advances and Servicing
        Advances.

       

      With
        respect to each Mortgage Loan which has become the subject of a Deficient
        Valuation, the difference between the principal balance of the Mortgage Loan
        outstanding immediately prior to such Deficient Valuation and the principal
        balance of the Mortgage Loan as reduced by the Deficient Valuation.

       

      With
        respect to each Mortgage Loan which has become the subject of a Debt Service
        Reduction, the portion, if any, of the reduction in each affected Monthly
        Payment attributable to a reduction in the Mortgage Rate imposed by a court
        of
        competent jurisdiction. Each such Realized Loss shall be deemed to have been
        incurred on the Due Date for each affected Monthly Payment.

       

      Record
        Date:
        With
        respect to any Distribution Date and the Certificates (other than the Class
        A-1,
        Class A-2, Class C, Class P and Residual Certificates), so long as such Classes
        of Certificates are Book-Entry Certificates, the Business Day preceding such
        Distribution Date, and otherwise, the close of business on the last Business
        Day
        of the month preceding the month in which such Distribution Date occurs.
        With
        respect to any Distribution Date and the Class A-1 Certificates and Class
        A-2
        Certificates, the close of business on the last Business Day of the month
        preceding the month in which such Distribution Date occurs. With respect
        to any
        Distribution Date and the Class C, Class P Certificates and Residual
        Certificates, so long as such Classes of Certificates remain non Book-Entry
        Certificates, the close of business on the last Business Day of the month
        preceding the month in which such Distribution Date occurs.

       

      Reference
        Banks:
        Shall
        mean leading banks selected by the Trustee and engaged in transactions in
        Eurodollar deposits in the international Eurocurrency market (i) with an
        established place of business in London, (ii) which have been designated
        as such
        by the Trustee and (iii) which are not controlling, controlled by, or under
        common control with, the Depositor, the Seller or the Master
        Servicer.

       

      Reference
        Bank Rate:
        With
        respect to any Interest Accrual Period shall mean the arithmetic mean, rounded
        upwards, if necessary, to the nearest whole multiple of 0.03125%, of the
        offered
        rates for United States dollar deposits for one month that are quoted by
        the
        Reference Banks as of 11:00 a.m., New York City time, on the related Interest
        Determination Date to prime banks in the London interbank market for a period
        of
        one month in an amount approximately equal to the aggregate Certificate
        Principal Balance of the LIBOR Certificates for such Interest Accrual Period,
        provided that at least two such Reference Banks provide such rate. If fewer
        than
        two offered rates appear, the Reference Bank Rate will be the arithmetic
        mean,
        rounded upwards, if necessary, to the nearest whole multiple of 0.03125%,
        of the
        rates quoted by one or more major banks in New York City, selected by the
        Trustee, as of 11:00 a.m., New York City time, on such date for loans in
        United
        States dollars to leading European banks for a period of one month in amounts
        approximately equal to the aggregate Certificate Principal Balance of the
        LIBOR
        Certificates for such Interest Accrual Period.

       

      Regular
        Certificate:
        Any
        Certificate other than a Residual Certificate.

       

      Regular
        Interest:
        A
“regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the
        Code.

       

      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 clarification and interpretation 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.

       

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

       

      Relief
        Act Interest Shortfall:
        With
        respect to any Distribution Date and any Mortgage Loan, any reduction in
        the
        amount of interest collectible on such Mortgage Loan for the most recently
        ended
        Due Period as a result of the application of the Relief Act.

       

      Remaining
        Excess Spread:
        With
        respect to any Distribution Date, the Excess Spread less any Extra Principal
        Distribution Amount, in each case for such Distribution Date.

       

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

       

      REMIC
        I:
        The
        segregated pool of assets described in the Preliminary Statement and Section
        6.07(a).

       

      REMIC
        I Regular Interest:
        Any of
        the separate non-certificated beneficial ownership interests in REMIC I issued
        hereunder and designated as a Regular Interest in REMIC I. Each REMIC I Regular
        Interest shall accrue interest at the related Uncertificated REMIC I
        Pass-Through Rate in effect from time to time, and shall be entitled to
        distributions of principal, subject to the terms and conditions hereof, in
        an
        aggregate amount equal to its initial Uncertificated Principal Balance as
        set
        forth in the Preliminary Statement hereto. The designations for the respective
        REMIC I Regular Interests are set forth in the Preliminary Statement hereto.
        

       

      REMIC
        I Interest Loss Allocation Amount:
        With
        respect to any Distribution Date, an amount equal to (a) the product of (i)
        the
        aggregate Stated Principal Balance of the Mortgage Loans and REO Properties
        then
        outstanding and (ii) the Uncertificated REMIC I Pass-Through Rate for REMIC
        I
        Regular Interest AA minus the Marker Rate, divided by (b) 12.

       

      REMIC
        I Overcollateralization Amount:
        With
        respect to any date of determination, (i) 1.00% of the aggregate Uncertificated
        Principal Balance of the REMIC I Regular Interests (other than REMIC I Regular
        Interest P) minus (ii) the aggregate Uncertificated Principal Balance of
        each
        REMIC I Regular Interest (other than REMIC I Regular Interest P) for which
        a
        REMIC II Regular Interest is a Corresponding Interest, in each case, as of
        such
        date of determination.

       

      REMIC
        I Overcollateralization Target Amount:
        1.00%
        of the Overcollateralization Target Amount.

       

      REMIC
        I Principal Loss Allocation Amount:
        With
        respect to any Distribution Date, an amount equal to the product of (i) the
        aggregate Stated Principal Balance of the Mortgage Loans and REO Properties
        then
        outstanding and (ii) 1 minus a fraction, the numerator of which is two (2)
        times
        the aggregate Uncertificated Principal Balance of each REMIC I Regular Interest
        (other than REMIC I Regular Interest P) for which a REMIC II Regular Interest
        is
        a Corresponding Interest and the denominator of which is the aggregate
        Uncertificated Principal Balance of each REMIC I Regular Interest (other
        than
        REMIC I Regular Interest P) for which a REMIC II Regular Interest is a
        Corresponding Interest and REMIC I Regular Interest ZZ.

       

      REMIC
        I Regular Interest ZZ Maximum Interest Deferral Amount:
        With
        respect to any Distribution Date, the excess of (i) accrued interest at the
        Uncertificated REMIC I Pass-Through Rate applicable to REMIC I Regular Interest
        ZZ for such Distribution Date on a balance equal to the Uncertificated Principal
        Balance of REMIC I Regular Interest ZZ minus the REMIC I Overcollateralization
        Amount, in each case for such Distribution Date, over (ii) the Uncertificated
        Accrued Interest on each REMIC I Regular Interest (other than REMIC I Regular
        Interest P) for which a REMIC II Regular Interest is a Corresponding Interest
        for the purpose of this calculation for such Distribution Date, with the
        rate on
        each such REMIC I Regular Interest subject to a cap equal to the Uncertificated
        REMIC II Pass-Through Rate for the Corresponding Interest; provided, however,
        that solely for this purpose, the related cap with respect to each REMIC
        I
        Regular Interest (other than REMIC I Regular Interests A-1, A-2, A-3 and
        P) for
        which a REMIC II Regular Interest is a Corresponding Interest shall be
        multiplied by a fraction, the numerator of which is 30 and the denominator
        of
        which is the actual number of days in the related Interest Accrual
        Period.

       

      REMIC
        II:
        The
        segregated pool of assets described in the Preliminary Statement consisting
        of
        the REMIC I Regular Interests

       

      REMIC
        II Interests:
        The
        REMIC II Regular Interests and the Class R-2 Certificates..

       

      REMIC
        II Regular Interest:
        Any of
        the separate non-certificated beneficial ownership interests in REMIC II
        issued
        hereunder and designated as a Regular Interest in REMIC II. Each REMIC II
        Regular Interest shall accrue interest at the related Uncertificated REMIC
        II
        Pass-Through Rate in effect from time to time, and shall be entitled to
        distributions of principal, subject to the terms and conditions hereof, in
        an
        aggregate amount equal to its initial Uncertificated Principal Balance as
        set
        forth in the Preliminary Statement hereto. The designations for the respective
        REMIC II Regular Interests are set forth in the Preliminary Statement
        hereto.

       

      REMIC
        II Regular Interest C Distribution Amount:
        With
        respect to any Distribution Date, the sum of (i) the Uncertificated Accrued
        Interest for REMIC II Regular Interest C for such Distribution Date, (ii)
        any
        Overcollateralization Release Amount for such Distribution Date and (iii)
        without duplication, any Subsequent Recoveries not distributed to the Class
        A,
        Class M and Class B Certificates on such Distribution Date; provided, however,
        that on and after the Distribution Date on which the Certificate Principal
        Balances of the Class A, Class M and Class B Certificates have been reduced
        to
        zero, the REMIC II Regular Interest C Distribution Amount shall include the
        Overcollateralization Amount.

       

      REMIC
        III:
        The
        segregated pool of assets described in the Preliminary Statement consisting
        of
        the REMIC II Regular Interests.

       

      REMIC
        IV:
        The
        segregated pool of assets consisting of the Class C Interest conveyed in
        trust
        to the Trustee, for the benefit of the Holders of the Class C Certificates
        and
        the Class RX Certificates (in respect of the Class R-4 Interest), with respect
        to which a separate REMIC election is to be made.

       

      REMIC
        V:
        The
        segregated pool of assets consisting of the Class P Interest conveyed in
        trust
        to the Trustee, for the benefit of the Holders of the Class P Certificates
        and
        the Class RX Certificates (in respect of the Class R-5 Interest), with respect
        to which a separate REMIC election is to be made.

       

      REMIC
        Opinion:
        Shall
        mean an Opinion of Counsel to the effect that the proposed action will not
        have
        an adverse effect on any REMIC created hereunder.

       

      REMIC
        Provisions:
        Provisions of the federal income tax law relating to real estate mortgage
        investment conduits, which appear at Sections 860A through 860G of the Code,
        and
        related provisions, and proposed, temporary and final regulations and published
        rulings, notices and announcements promulgated thereunder, as the foregoing
        may
        be in effect from time to time, as well as provisions of applicable state
        laws.

       

      REMIC
        Regular Interests:
        The
        REMIC I Regular Interests and REMIC II Regular Interests.

       

      Remittance
        Date:
        Shall
        mean the 23rd
        calendar
        day of each month or, if such day is not a Business Day, the Business Day
        immediately preceding the 23rd
        day of
        each month.

       

      Remittance
        Report:
        As
        defined in Section 6.04(g).

       

      REO
        Imputed Interest:
        As to
        any REO Property, for any calendar month during which such REO Property was
        at
        any time part of REMIC I, one month’s interest at the applicable Net Mortgage
        Rate on the Stated 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 Distribution Date in such calendar
        month.

       

      REO
        Property:
        A
        Mortgaged Property acquired by the Master Servicer on behalf of the Trust
        through foreclosure or deed-in-lieu of foreclosure in connection with a
        defaulted Mortgage Loan.

       

      Replacement
        Mortgage Loan:
        A
        Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller
        for a
        Deleted Mortgage Loan, which must, on the date of such substitution, as
        confirmed in a Request for Release, (i) have a Stated Principal Balance,
        after
        deduction of the principal portion of the Scheduled Payment due in the month
        of
        substitution, not in excess of, and not less than 90% of, the Stated Principal
        Balance of the Deleted Mortgage Loan; (ii) have a fixed Mortgage Rate not
        less
        than or more than 1% per annum higher than the Mortgage Rate of the Deleted
        Mortgage Loan; (iii) have the same or higher credit quality characteristics
        than
        that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher
        than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity
        no
        greater than (and not more than one year less than) that of the Deleted Mortgage
        Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to
        a
        variable rate; (vii) have the same lien priority as the Deleted Mortgage
        Loan;
        (viii) constitute the same occupancy type as the Deleted Mortgage Loan or
        be
        owner occupied; and (ix) comply with each representation and warranty set
        forth
        in Section 2.03 hereof.

       

      Reportable
        Event:
        As
        defined in Section 3.16.

       

      Repurchase
        Price:
        With
        respect to each Mortgage Loan, a price equal to (i) the outstanding principal
        balance of such Mortgage Loan, plus (ii) interest on such outstanding principal
        balance at the Mortgage Rate (net of the Servicing Fee Rate) from the last
        date
        through which interest has been paid to the end of the month of repurchase,
        less
        (iii) amounts advanced by the Master Servicer in respect of such repurchased
        Mortgage Loan which are being held in the Distribution Account for remittance
        to
        the Trustee plus (iv) any costs and damages (if any) incurred by the Trust
        in
        connection with any violation of such Mortgage Loan of any anti-predatory
        lending laws.

       

      Request
        for Release:
        The
        Request for Release to be submitted by the Seller or the Master Servicer
        to the
        Custodian substantially in the form of Exhibit G. Each Request for Release
        furnished to the Custodian by the Seller or the Master Servicer shall be
        in
        duplicate and shall be executed by an officer of such Person or a Servicing
        Officer (or, if furnished electronically to the Custodian, shall be deemed
        to
        have been sent and executed by an officer of such Person or a Servicing Officer)
        of the Master Servicer.

       

      Required
        Insurance Policy:
        With
        respect to any Mortgage Loan, any insurance policy that is required to be
        maintained from time to time under this Agreement.

       

      Reserve
        Fund:
        Shall
        mean the separate trust account created and maintained by the Trustee pursuant
        to Section 6.08 hereof.

       

      Reserve
        Fund Deposit:
        With
        respect to the Reserve Fund, an amount equal to $5,000, which the Depositor
        shall initially deposit into the Reserve Fund pursuant to Section 6.08
        hereof.

       

      Residual
        Certificates:
        The
        Class R-1, Class R-2, Class R-3 and Class RX Certificates, each evidencing
        the
        sole class of Residual Interests in the related REMIC.

       

      Residual
        Interest:
        The
        sole class of “residual interests” in a REMIC within the meaning of Section
        860G(a)(2) of the Code.

       

      Responsible
        Officer:
        With
        respect to the Trustee, any Vice President, any Assistant Vice President,
        the
        Secretary, any Assistant Secretary, or any Trust Officer with specific
        responsibility for the transactions contemplated hereby, any other officer
        customarily performing functions similar to those performed by any of the
        above
        designated officers or other officers of the Trustee specified by the Trustee,
        as to whom, with respect to a particular matter, such matter is referred
        because
        of such officer’s knowledge of and familiarity with the particular
        subject.

       

      S&P:
        Standard & Poor’s, a division of The McGraw-Hill Companies,
        Inc.

       

      Scheduled
        Payment:
        The
        scheduled monthly payment on a Mortgage Loan due on any Due Date allocable
        to
        principal and/or interest on such Mortgage Loan.

       

      Securities
        Act:
        The
        Securities Act of 1933, as amended.

       

      Seller:
        EMC in
        its capacity as seller of the Mortgage Loans to the Depositor.

       

      Senior
        Certificates:
        Any of
        the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates

       

      Servicing
        Advances:
        All
        customary, reasonable and necessary “out of pocket” costs and expenses
        (including reasonable legal fees) incurred in the performance by Master Servicer
        of its servicing obligations hereunder, including, but not limited to, the
        cost
        of (i) the preservation, restoration and protection of a Mortgaged Property,
        (ii) any enforcement or judicial proceedings, including foreclosures, and
        including any expenses incurred in relation to any such proceedings that
        result
        from the Mortgage Loan being registered in the MERS® System, (iii) the
        management and liquidation of any REO Property (including, without limitation,
        realtor’s commissions) and (iv) compliance with any obligations under Section
        3.07 hereof to cause insurance to be maintained.

       

      Servicing
        Criteria:
        The
“servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be
        amended from time to time, or those Servicing Criteria otherwise mutually
        agreed
        to by EMC, the Master Servicer, the Trustee and the applicable Servicer in
        response to evolving interpretations of Regulation AB and incorporated into
        a
        revised Exhibit N.

       

      Servicing
        Fee:
        As to
        each Mortgage Loan and any Distribution Date, an amount equal to 1/12th of
        the
        Servicing Fee Rate multiplied by the Stated Principal Balance of such Mortgage
        Loan as of the Due Date in the month preceding the month in which such
        Distribution Date occurs.

       

      Servicing
        Fee Rate:
        0.250%
        per annum.

       

      Servicing
        Modification:
        With
        respect to any Mortgage Loan that is in default or, in the reasonable judgment
        of the Master Servicer, as to which default is reasonably foreseeable, any
        modification which is effected by the Master Servicer in accordance with
        the
        terms of this Agreement which results in any change in the outstanding Stated
        Principal Balance, any change in the Mortgage Rate or any extension of the
        term
        of such Mortgage Loan.

       

      Servicing
        Officer:
        Any
        officer of the Master Servicer involved in, or responsible for, the
        administration and servicing of the Mortgage Loans whose name and facsimile
        signature appear on a list of servicing officers furnished to the Trustee
        by the
        Master Servicer on the Closing Date pursuant to this Agreement, as such list
        may
        from time to time be amended.

       

      Sponsor:
        EMC
        Mortgage Corporation, a Delaware corporation, and its successors and assigns,
        in
        its capacity as sponsor.

       

      Startup
        Day:
        The
        Startup Day for each REMIC formed hereunder shall be the Closing
        Date.

       

      Stated
        Principal Balance:
        With
        respect to any Mortgage Loan or related REO Property and any Distribution
        Date,
        the Cut-off Date Principal Balance thereof minus the sum of (i) the principal
        portion of the Scheduled Payments due with respect to such Mortgage Loan
        during
        each Due Period ending prior to such Distribution Date (and irrespective
        of any
        delinquency in their payment), (ii) all Principal Prepayments with respect
        to
        such Mortgage Loan received prior to or during the related Prepayment Period,
        and all Liquidation Proceeds to the extent applied by the Master Servicer
        as
        recoveries of principal in accordance with Section 3.09 with respect to such
        Mortgage Loan, that were received by the Master Servicer as of the close
        of
        business on the last day of the preceding calendar month related to such
        Distribution Date and (iii) any Realized Losses on such Mortgage Loan incurred
        during the related Due Period. The Stated Principal Balance of a Liquidated
        Loan
        equals zero.

       

      Stepdown
        Date:
        The
        later to occur of (a) the Distribution Date in August 2009 and (b) the first
        Distribution Date on which the Current Specified Enhancement Percentage is
        greater than or equal to 15.90%.

       

      Subordinated
        Certificates:
        The
        Class M, Class B, Class C and Residual Certificates.

       

      Subsequent
        Recoveries:
        As of
        any Distribution Date, amounts received by the Master Servicer or any Servicer
        (net of any related expenses permitted to be reimbursed pursuant to Section
        6.05) or surplus amounts held by the Master Servicer cover estimated expenses
        (including, but not limited to, recoveries in respect of the representations
        and
        warranties made by the Seller pursuant to the Mortgage Loan Purchase Agreement)
        specifically related to a Mortgage Loan that was the subject of a liquidation
        or
        final disposition of any REO Property prior to the related Prepayment Period
        that resulted in a Realized Loss.

       

      Subservicing
        Agreement:
        Any
        agreement entered into between the Master Servicer and a subservicer with
        respect to the subservicing of any Mortgage Loan hereunder by such
        subservicer.

       

      Substitution
        Adjustment Amount:
        The
        meaning ascribed to such term pursuant to Section 2.03(d).

       

      Successor
        Master Servicer:
        The
        meaning ascribed to such term pursuant to Section 9.01.

       

      Tax
        Matters Person:
        The
        person designated as “tax matters person” in the manner provided under Treasury
        Regulation Sections 1.860F-4(d) and 301.6231(a)(7)-1T. The Holder of the
        greatest Percentage Interest in a Class of Residual Certificates shall be
        the
        Tax Matters Person for the related REMIC. The Trustee or any successor thereto
        or assignee thereof shall serve as tax administrator hereunder and as agent
        for
        the related Tax Matters Person.

       

      Transfer
        Affidavit:
        As
        defined in Section 7.02(c).

       

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

       

      Trigger
        Event:
        With
        respect to any Distribution Date, a Trigger Event exists if (i) a Delinquency
        Event shall have occurred and be continuing or (ii) the aggregate amount
        of
        Realized Losses on the Mortgage Loans since the Cut-off Date as a percentage
        of
        the aggregate Cut-off Date Principal Balance of the Mortgage Loans exceeds
        the
        applicable percentages set forth below with respect to such Distribution
        Date:

       

      
        	
                Distribution
                  Date

              	
                Percentage

              
	
                August
                  2009 to July 2010

              	
                0.65%
                  with respect to August 2009, plus an additional 1/12th of the difference
                  between 1.10% and 0.65% for each month thereafter 

              
	
                August
                  2010 to July 2011

              	
                1.10%
                  with respect to August 2010, plus an additional 1/12th of the difference
                  between 1.55% and 1.10% for each month thereafter 

              
	
                August
                  2011 to July 2012

              	
                1.55%
                  with respect to August 2011, plus an additional 1/12th of the difference
                  between 1.85% and 1.55% for each month thereafter 

              
	
                August
                  2012 and thereafter

              	
                1.85%
                  

              

      

       

      Trust
        or Trust Fund:
        The
        corpus of the trust created hereunder consisting of (i) the Mortgage Loans
        and
        all interest accruing and principal due with respect thereto after the Cut-off
        Date to the extent not applied in computing the Cut-off Date Principal Balance
        thereof; (ii) the Class P Certificate Account, the Reserve Fund, the Class
        A-3/A-4 Net WAC Reserve Account, the Distribution Account maintained by the
        Trustee and the Protected Account and all amounts deposited therein pursuant
        to
        the applicable provisions of this Agreement; (iii) property that secured
        a
        Mortgage Loan and has been acquired by foreclosure, deed in lieu of foreclosure
        or otherwise; (iv) the mortgagee’s rights under the Insurance Policies with
        respect to the Mortgage Loans; (v) the Servicing Agreements and the Assignment
        Agreements; (vi) the rights under the Mortgage Loan Purchase Agreement; and
        (vii) all proceeds of the foregoing, including proceeds of conversion, voluntary
        or involuntary, of any of the foregoing into cash or other liquid property.
        The
        Reserve Fund, the Class A-3/A-4 Net WAC Reserve Account and Prepayment Charge
        Waiver Amounts shall not be included in REMIC I, REMIC II, REMIC III, REMIC
        IV
        or REMIC V.

       

      Trustee:
        Wells
        Fargo Bank, National Association, a national banking association, as trustee
        for
        the benefit of the Certificateholders under this Agreement, and any successor
        thereto, and any corporation or national banking association resulting from
        or
        surviving any consolidation or merger to which it or its successors may be
        a
        party and any successor trustee as may from time to time be serving as successor
        trustee hereunder.

       

      Trustee
        Fee:
        As to
        each Mortgage Loan and any Distribution Date, an amount equal to 1/12th of
        0.0165% multiplied by the Stated Principal Balance of such Mortgage Loan
        as of
        the Due Date in the month preceding the month in which such Distribution
        Date
        occurs.

       

      Uncertificated
        Accrued Interest:
        With
        respect to each REMIC Regular Interest on each Distribution Date, an amount
        equal to one month’s interest at the related Uncertificated REMIC I Pass-Through
        Rate or Uncertificated REMIC II Pass-Through Rate on the Uncertificated
        Principal Balance or Uncertificated Notional Amount, as applicable, of such
        REMIC Regular Interest. In each case, Uncertificated Accrued Interest will
        be
        reduced by any Prepayment Interest Shortfalls and Relief Act Interest Shortfalls
        (allocated to such REMIC Regular Interests as set forth in Section
        1.02).

       

      Uncertificated
        Notional Amount:
        With
        respect to REMIC II Regular Interest C and any Distribution Date, an amount
        equal to the aggregate Uncertificated Principal Balance of the REMIC I Regular
        Interests (other than REMIC I Regular Interest P) for such Distribution
        Date.

       

      With
        respect to the Class C Interest and any Distribution Date, an amount equal
        to
        the Uncertificated Notional Amount of the REMIC II Regular Interest C for
        such
        Distribution Date.

       

      With
        respect to the Regular Interest the ownership of which is represented by
        the
        Class A-4 Certificates, an amount equal to the Uncertificated Principal Balance
        of REMIC II Regular Interest A-3.

       

      Uncertificated
        Principal Balance:
        With
        respect to each REMIC Regular Interest, the Class C Interest and the Class
        P
        Interest, the principal amount of such REMIC Regular Interest, Class C Interest
        and Class P Interest outstanding as of any date of determination. As of the
        Closing Date, the Uncertificated Principal Balance of each REMIC Regular
        Interest, Class C Interest and Class P Interest shall equal the amount set
        forth
        in the Preliminary Statement hereto as its initial uncertificated principal
        balance. On each Distribution Date, the Uncertificated Principal Balance
        of the
        REMIC Regular Interests (other than REMIC II Regular Interest C) and Class
        P
        Interest shall be reduced by all distributions of principal made on such
        REMIC
        Regular Interests and Class P Interest on such Distribution Date pursuant
        to
        Section 6.07 and, if and to the extent necessary and appropriate, shall be
        further reduced on such Distribution Date by Realized Losses as provided
        in
        Section 6.05, and the Uncertificated Principal Balance of REMIC I Regular
        Interest ZZ shall be increased by interest deferrals as provided in Section
        6.07(b)(i). The Uncertificated Principal Balance of each REMIC Regular Interest,
        Class P Interest and Class C Interest shall never be less than zero. With
        respect to the REMIC II Regular Interest C as of any date of determination,
        an
        amount equal to the excess, if any, of (A) the then aggregate Uncertificated
        Principal Balance of the REMIC I Regular Interests over (B) the then aggregate
        Certificate Principal Balance of the Class A, Class M, Class B and Class
        P
        Certificates then outstanding. With respect to the Class C Interest as of
        any
        date of determination, an amount equal to the Uncertificated Principal Balance
        of REMIC II Regular Interest C.

       

      Uncertificated
        REMIC I Pass-Through Rate:
        With
        respect to any REMIC I Regular Interest (other than REMIC I Regular Interest
        P)
        and any Distribution Date, a per annum rate equal to the weighted average
        of the
        Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated
        Principal Balances thereof as of the first day of the related Due Period.
        With
        respect to REMIC I Regular Interest P and any Distribution Date, 0.00% per
        annum.

       

      Uncertificated
        REMIC II Pass-Through Rate:
        With
        respect to any Distribution Date and each REMIC II Regular Interest other
        than
        REMIC II Regular Interest C, REMIC II Regular Interest P and REMIC II Regular
        Interest A-3, a rate per annum equal to the Pass-Through Rate for the Class
        of
        Corresponding Certificates for such Distribution Date; provided, however,
        that
        for this purpose the Net Rate Cap with respect to each such Class of
        Corresponding Certificates shall be equal to the weighted average of the
        Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests
        (other than REMIC I Regular Interest P), weighted on the basis of the
        Uncertificated Principal Balances of each such REMIC I Regular Interest,
        for
        such Distribution Date.

       

      With
        respect to REMIC II Regular Interest A-3 and (i) any Distribution Date which
        occurs on or prior to the Optional Termination Date, the lesser of (a) 7.00%
        per
        annum and (b) the weighted average of the Uncertificated REMIC I Pass-Through
        Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest
        P),
        weighted on the basis of the Uncertificated Principal Balances of each such
        REMIC I Regular Interest, for such Distribution Date, and (ii) any Distribution
        Date thereafter, the lesser of (a) 7.50% per annum and (b) the weighted average
        of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular
        Interests (other than REMIC I Regular Interest P), weighted on the basis
        of the
        Uncertificated Principal Balances of each such REMIC I Regular Interest,
        for
        such Distribution Date.

       

      With
        respect to REMIC II Regular Interest C, a rate per annum equal to the percentage
        equivalent of a fraction, the numerator of which is the sum of the amount
        determined for each REMIC I Regular Interest (other than REMIC I Regular
        Interest P) equal to the product of (x) the excess, if any, of the
        Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest
        over
        the Marker Rate and (y) a notional amount equal to the Uncertificated Principal
        Balance of such REMIC I Regular Interest, and the denominator of which is
        the
        aggregate Uncertificated Principal Balance of such REMIC I Regular
        Interests.

       

      With
        respect to REMIC II Regular Interest P, 0.00% per annum.

       

      Uncertificated
        REMIC III Pass-Through Rate:
        With
        respect to the Regular Interest the ownership of which is represented by
        the
        Class A-3 Certificates and any Distribution Date, a rate equal to the least
        of
        (A) One-Month LIBOR plus 0.55% per annum, (B) 7.00% per annum and (C) the
        weighted average of the Uncertificated REMIC II Pass-Through Rate for REMIC
        II
        Regular Interest A-3 for such Distribution Date, weighted on the basis of
        the
        Uncertificated Principal Balance of such REMIC II Regular Interest.

      

      With
        respect to the Regular Interest the ownership of which is represented by
        the
        Class A-4 Certificates and any Distribution Date, a rate equal to the excess,
        if
        any, of (A) the Uncertificated REMIC II Pass-Through Rate for REMIC II Regular
        Interest A-3 over (B) the least of (x) One-Month LIBOR plus 0.55% per annum,
        (y)
        7.00% per annum and (z) the weighted average of the Uncertificated REMIC
        II
        Pass-Through Rate for REMIC II Regular Interest A-3 for such Distribution
        Date,
        weighted on the basis of the Uncertificated Principal Balance of such REMIC
        II
        Regular Interest.

      

      Unpaid
        Realized Loss Amount:
        With
        respect to any Class A Certificates and as to any Distribution Date, is the
        excess of Applied Realized Loss Amounts with respect to such Class over the
        sum
        of all distributions in reduction of the Applied Realized Loss Amounts on
        all
        previous Distribution Dates. Any amounts distributed to the Class A Certificates
        in respect of any Unpaid Realized Loss Amount shall not be applied to reduce
        the
        Certificate Principal Balance of such Class.

       

      Voting
        Rights:
        The
        portion of the voting rights of all the Certificates that is allocated to
        any
        Certificate for purposes of the voting provisions hereunder. Voting Rights
        shall
        be allocated (i) 91% to the Class A (other than the Class A-4 Certificates),
        Class M and Class B Certificates, (ii) 3% to the Class C Certificates until
        paid
        in full, and (iii) 1% to each of the Class A-4, Class P, Class R-1, Class
        R-2,
        Class R-3 and Class RX Certificates, with the allocation among the Certificates
        (other than the Class C and Residual Certificates) to be in proportion to
        the
        Certificate Principal Balance of each Class relative to the Certificate
        Principal Balance of all other such Classes. Voting Rights will be allocated
        among the Certificates of each such Class in accordance with their respective
        Percentage Interests.

       

      Section
        1.02  Allocation
        of Certain Interest Shortfalls. 

       

      For
        purposes of calculating the amount of Current Interest for the Class A, Class
        M,
        Class B and Class C Certificates for any Distribution Date, the aggregate
        amount
        of any Prepayment Interest Shortfalls (to the extent not covered by payments
        by
        the Master Servicer pursuant to Section 6.02) and any Relief Act Interest
        Shortfalls incurred in respect of the Mortgage Loans for any Distribution
        Date
        shall be allocated first, to the Class C Interest based on, and to the extent
        of, one month’s interest otherwise distributable thereto, and to the Class R-3
        Certificates based on amounts otherwise distributable thereto, and, thereafter,
        among the Class A, Class M and Class B Certificates, in each case on a
pro
        rata
        basis,
        based on, and to the extent of, one month’s interest at the then applicable
        respective Pass-Through Rates on the respective Certificate Principal Balances
        of each such Certificate.

       

      For
        purposes of calculating the amount of Uncertificated Accrued Interest for
        the
        REMIC I Regular Interests (other than REMIC I Regular Interest P) for any
        Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls
        (to the extent not covered by payments by the Master Servicer pursuant to
        Section 6.02) and any Relief Act Interest Shortfalls incurred in respect
        of the
        Mortgage Loans for any Distribution Date shall be allocated first, to
        Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and
        REMIC
        I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest
        Loss Allocation Amount, 98% and 2%, respectively, and to amounts otherwise
        distributable to the Class R-1 Certificates, and thereafter among REMIC I
        Regular Interest AA, each REMIC I Regular Interest (other than REMIC I Regular
        Interest P) for which a REMIC II Regular Interest is the Corresponding Interest
        and REMIC I Regular Interest ZZ, pro
        rata,
        based
        on, and to the extent of, one month’s interest at the then applicable respective
        Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated
        Principal Balances of each such REMIC I Regular Interest.

       

      For
        purposes of calculating the amount of Uncertificated Accrued Interest for
        the
        REMIC II Regular Interests (other than REMIC II Regular Interest P) for any
        Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls
        (to the extent not covered by payments by the Master Servicer pursuant to
        Section 6.02) and any Relief Act Interest Shortfalls incurred in respect
        of the
        Mortgage Loans for any Distribution Date shall be allocated among such REMIC
        II
        Regular Interests and the Class R-2 Certificates in the same manner and priority
        as such amounts are allocable to the Corresponding Certificates and, in the
        case
        of REMIC II Regular Interest C, to the Class C Interest, and, in the case
        of the
        Class R-2 Certificates, to the Class R-3 Certificates; provided, however,
        that
        solely for purposes of allocating such shortfalls to such REMIC II Regular
        Interests, any such shortfalls allocable to the Class A-4 Certificates shall
        be
        deemed to be allocated to the Class A-3 Certificates.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        II

      
 

      CONVEYANCE
        OF TRUST FUND

      REPRESENTATIONS
        AND WARRANTIES

       

      Section
        2.01  Conveyance
        of Trust Fund. 

       

      Pursuant
        to the Mortgage Loan Purchase Agreement, the Seller sold, transferred, assigned,
        set over and otherwise conveyed to the Depositor, without recourse, all the
        right, title and interest of the Seller in and to the assets in the Trust
        Fund.

       

      The
        Seller has entered into this Agreement in consideration for the purchase
        of the
        Mortgage Loans by the Depositor pursuant to the Mortgage Loan Purchase Agreement
        and has agreed to take the actions specified herein.

       

      The
        Depositor, concurrently with the execution and delivery hereof, hereby sells,
        transfers, assigns, sets over and otherwise conveys to the Trustee for the
        use
        and benefit of the Certificateholders without recourse, all the right, title
        and
        interest of the Depositor in and to the Trust Fund.

       

      In
        connection with such sale, the Depositor has delivered to, and deposited
        with,
        the Trustee or the Custodian, as its agent, the following documents or
        instruments with respect to each Mortgage Loan so assigned: (i) the original
        Mortgage Note, including any riders thereto, endorsed without recourse (A)
        in
        blank or to the order of “Wells Fargo Bank, National Association, as Trustee for
        Certificateholders of Bear Stearns Mortgage Funding Trust 2006-AC1, Asset
        Backed
        Certificates, Series 2006-AC1”, or (B) in the case of a loan registered on the
        MERS system, in blank and in each case showing to the extent available to
        the
        Seller an unbroken chain of endorsements from the original payee thereof
        to the
        Person endorsing it to the Trustee, (ii) the original Mortgage and, if the
        related Mortgage Loan is a MOM Loan, noting the presence of the MIN and language
        indicating that such Mortgage Loan is a MOM Loan, which shall have been recorded
        (or if the original is not available, a copy), with evidence of such recording
        indicated thereon (or if clause (x) in the proviso below applies, shall be
        in
        recordable form), (iii) unless the Mortgage Loan is a MOM Loan or has been
        assigned in the name of MERS®, the assignment (either an original or a copy,
        which may be in the form of a blanket assignment if permitted in the
        jurisdiction in which the Mortgaged Property is located) to the Trustee of
        the
        Mortgage with respect to each Mortgage Loan in the name of “Wells Fargo Bank,
        National Association, as Trustee for Certificateholders of Bear Stearns Mortgage
        Funding Trust 2006-AC1, Asset Backed Certificates, Series 2006-AC1,” which shall
        have been recorded (or if clause (x) in the proviso below applies, shall
        be in
        recordable form) (iv) an original or a copy of all intervening assignments
        of
        the Mortgage, if any, to the extent available to the Seller, with evidence
        of
        recording thereon, (v) the original policy of title insurance or mortgagee’s
        certificate of title insurance or commitment or binder for title insurance,
        if
        available, or a copy thereof, or, in the event that such original title
        insurance policy is unavailable, a photocopy thereof, or in lieu thereof,
        a
        current lien search on the related Mortgaged Property and (vi) originals
        or
        copies of all available assumption, modification or substitution agreements,
        if
        any; provided, however, that in lieu of the foregoing, the Seller may deliver
        the following documents, under the circumstances set forth below: (x) if
        any
        Mortgage, assignment thereof to the Trustee or intervening assignments thereof
        have been delivered or are being delivered to recording offices for recording
        and have not been returned in time to permit their delivery as specified
        above,
        the Depositor may deliver a true copy thereof with a certification by the
        Seller
        or the title company issuing the commitment for title insurance, on the face
        of
        such copy, substantially as follows: “Certified to be a true and correct copy of
        the original, which has been transmitted for recording”; and (y) in lieu of the
        Mortgage Notes relating to the Mortgage Loans identified in the list set
        forth
        in Exhibit I, the Depositor may deliver a lost note affidavit and indemnity
        and
        a copy of the original note, if available; and provided, further, however,
        that
        in the case of Mortgage Loans which have been prepaid in full after the Cut-off
        Date and prior to the Closing Date, the Depositor, in lieu of delivering
        the
        above documents, may deliver to the Trustee and its Custodian a certification
        of
        a Servicing Officer to such effect and in such case shall deposit all amounts
        paid in respect of such Mortgage Loans, in the Distribution Account on the
        Closing Date. In the case of the documents referred to in clause (x) above,
        the
        Depositor shall deliver such documents to the Trustee or its Custodian promptly
        after they are received. The Seller shall cause, at its expense, the Mortgage
        and intervening assignments, if any, and to the extent required in accordance
        with the foregoing, the assignment of the Mortgage to the Trustee to be
        submitted for recording promptly after the Closing Date provided that the
        Seller
        need not cause to be recorded any assignment (a) in any jurisdiction under
        the
        laws of which, as evidenced by an Opinion of Counsel addressed to the Trustee
        delivered by the Seller to the Trustee and the Rating Agencies, the recordation
        of such assignment is not necessary to protect the Trustee’s interest in the
        related Mortgage Loan or (b) if MERS is identified on the Mortgage or on
        a
        properly recorded assignment of the Mortgage as mortgagee of record solely
        as
        nominee for Seller and its successors and assigns. In the event that the
        Seller,
        the Depositor or the Master Servicer gives written notice to the Trustee
        that a
        court has recharacterized the sale of the Mortgage Loans as a financing,
        the
        Seller shall submit or cause to be submitted for recording as specified above
        or, should the Seller fail to perform such obligations, the Master Servicer
        shall cause each such previously unrecorded assignment to be submitted for
        recording as specified above at the expense of the Trust. In the event a
        Mortgage File is released to the Master Servicer as a result of such Person
        having completed a Request for Release, the Custodian shall, if not so
        completed, complete the assignment of the related Mortgage in the manner
        specified in clause (iii) above.

       

      In
        connection with the assignment of any Mortgage Loan registered on the MERS®
System, the Seller further agrees that it will cause, at the Seller’s own
        expense, within 30 days after the Closing Date, the MERS® System to indicate
        that such Mortgage Loans have been assigned by the Seller to the Depositor
        and
        by the Depositor to the Trustee in accordance with this Agreement for the
        benefit of the Certificateholders by including (or deleting, in the case
        of
        Mortgage Loans which are repurchased in accordance with this Agreement) in
        such
        computer files (a) the code in the field which identifies the specific Trustee
        and (b) the code in the field “Pool Field” which identifies the series of the
        Certificates issued in connection with such Mortgage Loans. The Seller further
        agrees that it will not, and will not permit the Master Servicer to, and
        the
        Master Servicer agrees that it will not, alter the codes referenced in this
        paragraph with respect to any Mortgage Loan during the term of this Agreement
        unless and until such Mortgage Loan is repurchased in accordance with the
        terms
        of this Agreement or the Mortgage Loan Purchase Agreement.

       

      Section
        2.02  Acceptance
        of the Mortgage Loans. 

       

      (a)  Based
        on
        the Initial Certification received by it from the Custodian, the Trustee
        acknowledges receipt of, subject to the further review and exceptions reported
        by the Custodian pursuant to the procedures described below, the documents
        (or
        certified copies thereof) delivered to the Trustee or the Custodian on its
        behalf pursuant to Section 2.01 and declares that it holds and will continue
        to
        hold directly or through a custodian those documents and any amendments,
        replacements or supplements thereto and all other assets of the Trust Fund
        delivered to it in trust for the use and benefit of all present and future
        Holders of the Certificates. On the Closing Date, the Trustee or the Custodian
        on its behalf will deliver the Seller, the Trustee an Initial Certification
        confirming whether or not it has received the Mortgage File for each Mortgage
        Loan, but without review of such Mortgage File, except to the extent necessary
        to confirm whether such Mortgage File contains the original Mortgage Note
        or a
        lost note affidavit and indemnity in lieu thereof. No later than 90 days
        after
        the Closing Date, the Trustee or the Custodian on its behalf shall, for the
        benefit of the Certificateholders, review each Mortgage File delivered to
        it and
        execute and deliver to the Seller and, if reviewed by the Custodian, the
        Trustee, an Interim Certification. In conducting such review, the Trustee
        or the
        Custodian on its behalf will ascertain whether all required documents have
        been
        executed and received and whether those documents relate, determined on the
        basis of the Mortgagor name, original principal balance and loan number,
        to the
        Mortgage Loans identified in Exhibit B to this Agreement, as supplemented
        (provided, however, that with respect to those documents described in subclauses
        (iv) and (vi) of Section 2.01, such obligations shall extend only to documents
        actually delivered pursuant to such subclauses). In performing any such review,
        the Trustee and the Custodian may conclusively rely on the purported due
        execution and genuineness of any such document and on the purported genuineness
        of any signature thereon. If the Trustee or the Custodian on its behalf finds
        any document constituting part of the Mortgage File not to have been executed
        or
        received, or to be unrelated to the Mortgage Loans identified in Exhibit
        B or to
        appear to be defective on its face, the Trustee or the Custodian on its behalf
        shall include such information in the exception report. The Seller shall
        correct
        or cure any such defect or, if prior to the end of the second anniversary
        of the
        Closing Date, the Seller may substitute for the related Mortgage Loan a
        Replacement Mortgage Loan, which substitution shall be accomplished in the
        manner and subject to the conditions set forth in Section 2.03 or shall deliver
        to the Trustee an Opinion of Counsel addressed to the Trustee to the effect
        that
        such defect does not materially or adversely affect the interests of the
        Certificateholders in such Mortgage Loan within 60 days from the date of
        notice
        from the Trustee of the defect and if the Seller fails to correct or cure
        the
        defect or deliver such opinion within such period, the Seller will, subject
        to
        Section 2.03, within 90 days from the notification of the Trustee purchase
        such
        Mortgage Loan at the Purchase Price; provided, however, that if such defect
        relates solely to the inability of the Seller to deliver the Mortgage,
        assignment thereof to the Trustee, or intervening assignments thereof with
        evidence of recording thereon because such documents have been submitted
        for
        recording and have not been returned by the applicable jurisdiction, the
        Seller
        shall not be required to purchase such Mortgage Loan if the Seller delivers
        such
        documents promptly upon receipt, but in no event later than 360 days after
        the
        Closing Date.

       

      (b)  No
        later
        than 180 days after the Closing Date, the Trustee or the Custodian on its
        behalf
        will review, for the benefit of the Certificateholders, the Mortgage Files
        and
        will execute and deliver or cause to be executed and delivered to the Seller
        and, if reviewed by the Custodian, to the Trustee, a Final Certification.
        In
        conducting such review, the Trustee or the Custodian on its behalf will
        ascertain whether each document required to be recorded has been returned
        from
        the recording office with evidence of recording thereon and the Trustee or
        the
        Custodian on its behalf has received either an original or a copy thereof,
        as
        required in Section 2.01 (provided, however, that with respect to those
        documents described in subclauses (iv) and (vi) of Section 2.01, such
        obligations shall extend only to documents actually delivered pursuant to
        such
        subclauses). If the Trustee or the Custodian on its behalf finds any document
        with respect to a Mortgage Loan has not been received, or to be unrelated,
        determined on the basis of the Mortgagor name, original principal balance
        and
        loan number, to the Mortgage Loans identified in Exhibit B or to appear
        defective on its face, the Trustee or the Custodian on its behalf shall note
        such defect in the exception report attached to the Final Certification and
        shall promptly notify the Seller. The Seller shall correct or cure any such
        defect or, if prior to the end of the second anniversary of the Closing Date,
        the Seller may substitute for the related Mortgage Loan a Replacement Mortgage
        Loan, which substitution shall be accomplished in the manner and subject
        to the
        conditions set forth in Section 2.03 or shall deliver to the Trustee an Opinion
        of Counsel addressed to the Trustee to the effect that such defect does not
        materially or adversely affect the interests of Certificateholders in such
        Mortgage Loan within 60 days from the date of notice from the Trustee of
        the
        defect and if the Seller is unable within such period to correct or cure
        such
        defect, or to substitute the related Mortgage Loan with a Replacement Mortgage
        Loan or to deliver such opinion, the Seller shall, subject to Section 2.03,
        within 90 days from the notification of the Trustee, purchase such Mortgage
        Loan
        at the Purchase Price; provided, however, that if such defect relates solely
        to
        the inability of the Seller to deliver the Mortgage, assignment thereof to
        the
        Trustee or intervening assignments thereof with evidence of recording thereon,
        because such documents have not been returned by the applicable jurisdiction,
        the Seller shall not be required to purchase such Mortgage Loan, if the Seller
        delivers such documents promptly upon receipt, but in no event later than
        360
        days after the Closing Date.

       

      (c)  In
        the
        event that a Mortgage Loan is purchased by the Seller in accordance with
        subsections 2.02(a) or (b) above or Section 2.03, the Seller shall remit
        the
        applicable Purchase Price to the Trustee, for deposit in the Distribution
        Account and shall provide written notice to the Trustee detailing the components
        of the Purchase Price, signed by a Servicing Officer. Upon deposit of the
        Purchase Price in the Distribution Account and upon receipt of a Request
        for
        Release with respect to such Mortgage Loan, the Trustee or the Custodian
        will
        release to the Seller the related Mortgage File and the Trustee shall execute
        and deliver all instruments of transfer or assignment, without recourse,
        representation or warranty furnished to it by the Seller, as are necessary
        to
        vest in the Seller title to and rights under the Mortgage Loan. Such purchase
        shall be deemed to have occurred on the date on which the deposit into the
        Distribution Account was made. The Trustee shall promptly notify the Rating
        Agencies of such repurchase. The obligation of the Seller to cure, repurchase
        or
        substitute for any Mortgage Loan as to which a defect in a constituent document
        exists shall be the sole remedies respecting such defect available to the
        Certificateholders or to the Trustee on their behalf.

       

      (d)  The
        Seller shall deliver to the Trustee or the Custodian on its behalf, and Trustee
        agrees to accept the Mortgage Note and other documents constituting the Mortgage
        File with respect to any Replacement Mortgage Loan, which the Trustee or
        the
        Custodian will review as provided in subsections 2.02(a) and 2.02(b), provided,
        that the Closing Date referred to therein shall instead be the date of delivery
        of the Mortgage File with respect to each Replacement Mortgage
        Loan.

       

      Section
        2.03  Representations,
        Warranties and Covenants of the Master Servicer and the Seller. 

       

      (a)  The
        Master Servicer hereby represents and warrants to the Depositor and the Trustee
        as follows, as of the Closing Date:

       

      (i)  It
        is
        duly organized and is validly existing and in good standing under the laws
        of
        the State of Delaware and is duly authorized and qualified to transact any
        and
        all business contemplated by this Agreement to be conducted by it in any
        state
        in which a Mortgaged Property is located or is otherwise not required under
        applicable law to effect such qualification and, in any event, is in compliance
        with the doing business laws of any such state, to the extent necessary to
        ensure its ability to enforce each Mortgage Loan, to service the Mortgage
        Loans
        in accordance with the terms of this Agreement and to perform any of its
        other
        obligations under this Agreement in accordance with the terms
        hereof.

       

      (ii)  It
        has
        the full corporate power and authority to service each Mortgage Loan, and
        to
        execute, deliver and perform, and to enter into and consummate the transactions
        contemplated by this Agreement and has duly authorized by all necessary
        corporate action on its part the execution, delivery and performance of this
        Agreement; assuming the due authorization, execution and delivery hereof
        by the
        other parties hereto, constitutes its legal, valid and binding obligation,
        enforceable against it in accordance with its terms, except that (a) the
        enforceability hereof may be limited by bankruptcy, insolvency, moratorium,
        receivership and other similar laws relating to creditors’ rights generally and
        (b) the remedy of specific performance and injunctive and other forms of
        equitable relief may be subject to equitable defenses and to the discretion
        of
        the court before which any proceeding therefor may be brought.

       

      (iii)  The
        execution and delivery of this Agreement by it, the servicing of the Mortgage
        Loans by it under this Agreement, the consummation of any other of the
        transactions contemplated by this Agreement, and the fulfillment of or
        compliance with the terms hereof are in its ordinary course of business and
        will
        not (A) result in a breach of any term or provision of its charter or by-laws
        or
        (B) conflict with, result in a breach, violation or acceleration of, or result
        in a default under, the terms of any other material agreement or instrument
        to
        which it is a party or by which it may be bound, or (C) constitute a violation
        of any statute, order or regulation applicable to it of any court, regulatory
        body, administrative agency or governmental body having jurisdiction over
        it;
        and it is not in breach or violation of any material indenture or other material
        agreement or instrument, or in violation of any statute, order or regulation
        of
        any court, regulatory body, administrative agency or governmental body having
        jurisdiction over it which breach or violation may materially impair its
        ability
        to perform or meet any of its obligations under this Agreement.

       

      (iv)  It
        is an
        approved servicer of conventional mortgage loans for Fannie Mae or Freddie
        Mac
        and is a mortgagee approved by the Secretary of Housing and Urban Development
        pursuant to sections 203 and 211 of the National Housing Act.

       

      (v)  No
        litigation is pending or, to the best of its knowledge, threatened, against
        it
        that would materially and adversely affect the execution, delivery or
        enforceability of this Agreement or its ability to service the Mortgage Loans
        or
        to perform any of its other obligations under this Agreement in accordance
        with
        the terms hereof.

       

      (vi)  No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for its execution, delivery and performance of, or compliance
        with, this Agreement or the consummation of the transactions contemplated
        hereby, or if any such consent, approval, authorization or order is required,
        it
        has obtained the same.

       

      (vii)  As
        of the
        Closing Date and except as has been otherwise disclosed to the Depositor,
        or
        disclosed in any public filing: (1) no default or servicing related performance
        trigger has occurred as to any other Pass-Through Transfer due to any act
        or
        failure to act of the Master Servicer; (2) no material noncompliance with
        applicable servicing criteria as to any other Pass-Through Transfer has
        occurred, been disclosed or reported by the Master Servicer; (3) the Master
        Servicer has not been terminated as servicer in a residential mortgage loan
        Pass-Through Transfer, either due to a servicing default or to application
        of a
        servicing performance test or trigger; (4) no material changes to the Master
        Servicer’s servicing policies and procedures for similar loans have occurred in
        the preceding three years outside of the normal changes warranted by regulatory
        and product type changes in the portfolio; (5) there are no aspects of the
        Master Servicer’s financial condition that could have a material adverse impact
        on the performance by the Master Servicer of its obligations hereunder; (6)
        there are no legal proceedings pending, or known to be contemplated by
        governmental authorities, against the Master Servicer that could be material
        to
        investors in the securities issued in such Pass-Through Transfer; and (7)
        there
        are no affiliations, relationships or transactions relating to the Master
        Servicer of a type that are described under Item 1119 of Regulation
        AB.

       

      (viii)  If
        so
        requested by the Depositor on any date, the Master Servicer shall, within
        five
        Business Days following such request, confirm in writing the accuracy of
        the
        representations and warranties set forth in clause (a)(vii) of this Section
        or,
        if any such representation and warranty is not accurate as of the date of
        such
        request, provide reasonably adequate disclosure of the pertinent facts, in
        writing, to the requesting party.

       

      (ix)  As
        a
        condition to the succession to the Master Servicer or any subservicer as
        servicer or subservicer under this Agreement by any Person (i) into which
        the
        Master Servicer or such subservicer may be merged or consolidated, or (ii)
        which
        may be appointed as a successor to the Master Servicer or any subservicer,
        the
        Master Servicer shall provide to the Depositor, at least 15 calendar days
        prior
        to the effective date of such succession or appointment, (x) written notice
        to
        the Depositor of such succession or appointment and (y) in writing and in
        form
        and substance reasonably satisfactory to the Depositor, all information
        reasonably requested by the Depositor in order to comply with its reporting
        obligation under Item 6.02 of Form 8-K with respect to any class of asset-backed
        securities.

       

      (b)  The
        Seller hereby represents and warrants to the Depositor, the Master Servicer
        and
        the Trustee as follows, as of the Closing Date:

       

      (i)  The
        Seller is duly organized as a Delaware corporation and is validly existing
        and
        in good standing under the laws of the State of Delaware and is duly authorized
        and qualified to transact any and all business contemplated by this Agreement
        and to be conducted by the Seller in any state in which a Mortgaged Property
        is
        located or is otherwise not required under applicable law to effect such
        qualification and, in any event, is in compliance with the doing business
        laws
        of any such state, to the extent necessary to ensure its ability to enforce
        each
        Mortgage Loan, to sell the Mortgage Loans in accordance with the terms of
        this
        Agreement and to perform any of its other obligations under this Agreement
        in
        accordance with the terms hereof or thereof.

       

      (ii)  The
        Seller has the full corporate power and authority to sell each Mortgage Loan,
        and to execute, deliver and perform, and to enter into and consummate the
        transactions contemplated by this Agreement and has duly authorized by all
        necessary corporate action on the part of the Seller the execution, delivery
        and
        performance of this Agreement; and this Agreement, assuming the due
        authorization, execution and delivery hereof by the other parties hereto
        or
        thereto, as applicable, constitutes a legal, valid and binding obligation
        of the
        Seller, enforceable against the Seller in accordance with its terms, except
        that
        (a) the enforceability hereof may be limited by bankruptcy, insolvency,
        moratorium, receivership and other similar laws relating to creditors’ rights
        generally and (b) the remedy of specific performance and injunctive and other
        forms of equitable relief may be subject to equitable defenses and to the
        discretion of the court before which any proceeding therefor may be
        brought.

       

      (iii)  The
        execution and delivery of this Agreement by the Seller, the sale of the Mortgage
        Loans by the Seller under the Mortgage Loan Purchase Agreement, the consummation
        of any other of the transactions contemplated by this Agreement, and the
        fulfillment of or compliance with the terms hereof and thereof are in the
        ordinary course of business of the Seller and will not (A) result in a breach
        of
        any term or provision of the charter or by-laws of the Seller or (B) conflict
        with, result in a breach, violation or acceleration of, or result in a default
        under, the terms of any other material agreement or instrument to which the
        Seller is a party or by which it may be bound, or (C) constitute a violation
        of
        any statute, order or regulation applicable to the Seller of any court,
        regulatory body, administrative agency or governmental body having jurisdiction
        over the Seller; and the Seller is not in breach or violation of any material
        indenture or other material agreement or instrument, or in violation of any
        statute, order or regulation of any court, regulatory body, administrative
        agency or governmental body having jurisdiction over it which breach or
        violation may materially impair the Seller’s ability to perform or meet any of
        its obligations under this Agreement.

       

      (iv)  The
        Seller is an approved seller of conventional mortgage loans for Fannie Mae
        or
        Freddie Mac and is a mortgagee approved by the Secretary of Housing and Urban
        Development pursuant to sections 203 and 211 of the National Housing
        Act.

       

      (v)  No
        litigation is pending or, to the best of the Seller’s knowledge, threatened,
        against the Seller that would materially and adversely affect the execution,
        delivery or enforceability of this Agreement or the ability of the Seller
        to
        sell the Mortgage Loans or to perform any of its other obligations under
        this
        Agreement in accordance with the terms hereof or thereof.

       

      (vi)  No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for the execution, delivery and performance by the Seller
        of,
        or compliance by the Seller with, this Agreement or the consummation of the
        transactions contemplated hereby or thereby, or if any such consent, approval,
        authorization or order is required, the Seller has obtained the
        same.

       

      (vii)  As
        of the
        Closing Date, the representations and warranties concerning the Mortgage
        Loans
        set forth in Section 7 of the Mortgage Loan Purchase Agreement are true and
        correct in all material respects.

       

      (c)  Upon
        discovery by any of the parties hereto of a breach of a representation or
        warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement that
        materially and adversely affects the interests of the Certificateholders
        in any
        Mortgage Loan, the party discovering such breach shall give prompt written
        notice thereof to the other parties of this Agreement. The Seller hereby
        covenants with respect to the representations and warranties set forth in
        Section 7 of the Mortgage Loan Purchase Agreement, that within 90 days of
        the
        discovery of a breach of any representation or warranty set forth therein
        that
        materially and adversely affects the interests of the Certificateholders
        in any
        Mortgage Loan, it shall cure such breach in all material respects and, if
        such
        breach is not so cured, (i) if such 90-day period expires prior to the second
        anniversary of the Closing Date, remove such Mortgage Loan (a “Deleted Mortgage
        Loan”) from the Trust Fund and substitute in its place a Replacement Mortgage
        Loan, in the manner and subject to the conditions set forth in this Section;
        or
        (ii) repurchase the affected Mortgage Loan or Mortgage Loans from the Trustee
        at
        the Purchase Price in the manner set forth below; provided that, any such
        substitution pursuant to (i) above or repurchase pursuant to (ii) above shall
        not be effected prior to the delivery to the Trustee of an Opinion of Counsel
        if
        required by Section 2.05 hereof and any such substitution pursuant to (i)
        above
        shall not be effected prior to the additional delivery to the Custodian of
        a
        Request for Release. The Seller shall furnish to the Trustee the Officer’s
        Certificate required under Section 2.03(c) relating to such cure. The Trustee
        shall give prompt written notice to the parties hereto if it does not receive
        such Officer’s Certificate from the Seller certifying as to the cure of the
        breached representation or warranty within 90 days of its receipt (or giving,
        as
        the case may be) or the notice of discovery of the breach, as referenced
        above.
        The Seller shall promptly reimburse the Trustee for any expenses reasonably
        incurred by the Trustee in respect of enforcing the remedies for such breach.
        To
        enable the Seller to amend the Mortgage Loan Schedule, the Seller shall,
        unless
        it cures such breach in a timely fashion pursuant to this Section 2.03, promptly
        notify the Trustee whether it intends either to repurchase, or to substitute
        for, the Mortgage Loan affected by such breach. With respect to the
        representations and warranties in Section 7 of the Mortgage Loan Purchase
        Agreement that are made to the best of the Seller’s knowledge, if it is
        discovered by any of the Depositor, the Master Servicer, the Seller or the
        Trustee that the substance of such representation and warranty is inaccurate
        and
        such inaccuracy materially and adversely affects the value of the related
        Mortgage Loan, notwithstanding the Seller’s lack of knowledge with respect to
        the substance of such representation or warranty, the Seller shall nevertheless
        be required to cure, substitute for or repurchase the affected Mortgage Loan
        in
        accordance with the foregoing.

       

      With
        respect to any Replacement Mortgage Loan or Loans, the Seller shall deliver
        to
        the Trustee (or the Custodian on its behalf) for the benefit of the
        Certificateholders such documents and agreements as are required by Section
        2.01. No substitution shall be made in any calendar month after the
        Determination Date for such month. Scheduled Payments due with respect to
        Replacement Mortgage Loans in the Due Period related to the Distribution
        Date on
        which such proceeds are to be distributed shall not be part of the Trust
        Fund
        and shall be retained by the Seller. For the month of substitution,
        distributions to Certificateholders will include the Scheduled Payment due
        on
        any Deleted Mortgage Loan for the related Due Period and thereafter the Seller
        shall be entitled to retain all amounts received in respect of such Deleted
        Mortgage Loan. The Seller shall amend the Mortgage Loan Schedule for the
        benefit
        of the Certificateholders to reflect the removal of such Deleted Mortgage
        Loan
        and the substitution of the Replacement Mortgage Loan or Loans and the Seller
        shall deliver the amended Mortgage Loan Schedule to the Trustee, the Master
        Servicer and the Custodian. Upon such substitution, the Replacement Mortgage
        Loan or Loans shall be subject to the terms of this Agreement in all respects,
        and the Seller shall be deemed to have made with respect to such Replacement
        Mortgage Loan or Loans, as of the date of substitution, the representations
        and
        warranties set forth in Section 7 of the Mortgage Loan Purchase Agreement
        with
        respect to such Mortgage Loan. Upon any such substitution and the deposit
        into
        the Distribution Account of the amount required to be deposited therein in
        connection with such substitution as described in the following paragraph
        and
        receipt by the Trustee of a Request for Release for such Mortgage Loan, the
        Trustee or the Custodian shall release to the Seller the Mortgage File relating
        to such Deleted Mortgage Loan and held for the benefit of the Certificateholders
        and the Trustee shall execute and deliver at the Seller’s direction such
        instruments of transfer or assignment as have been furnished to it by the
        Seller, in each case without recourse, representation or warranty, as shall
        be
        necessary to vest in the Seller, or its respective designee, title to the
        Trustee’s interest in any Deleted Mortgage Loan substituted for pursuant to this
        Section 2.03.

       

      For
        any
        month in which the Seller substitutes one or more Replacement Mortgage Loans
        for
        a Deleted Mortgage Loan, the Master Servicer will determine the amount (if
        any)
        by which the aggregate principal balance of all the Replacement Mortgage
        Loans
        as of the date of substitution is less than the Stated Principal Balance
        (after
        application of the principal portion of the Scheduled Payment due in the
        month
        of substitution) of such Deleted Mortgage Loan. An amount equal to the aggregate
        of such deficiencies, described in the preceding sentence for any Distribution
        Date (such amount, the “Substitution Adjustment Amount”) shall be deposited into
        the Distribution Account by the Master Servicer upon receipt from the Seller
        delivering such Replacement Mortgage Loan on the Determination Date for the
        Distribution Date relating to the Prepayment Period during which the related
        Mortgage Loan became required to be purchased or replaced
        hereunder.

       

      In
        the
        event that the Seller shall have repurchased a Mortgage Loan, the Purchase
        Price
        therefor shall be deposited into the Distribution Account maintained by the
        Trustee, on the Determination Date for the Distribution Date in the month
        following the month during which the Seller became obligated to repurchase
        or
        replace such Mortgage Loan and upon such deposit of the Purchase Price, the
        delivery of an Opinion of Counsel if required by Section 2.05 and the receipt
        of
        a Request for Release, the Trustee or the Custodian shall release the related
        Mortgage File held for the benefit of the Certificateholders to the Seller,
        and
        the Trustee shall execute and deliver at such Person’s direction the related
        instruments of transfer or assignment furnished to it by the Seller, in each
        case without recourse, representation or warranty, as shall be necessary
        to
        transfer title from the Trustee for the benefit of the Certificateholders
        and
        transfer the Trustee’s interest to the Seller to any Mortgage Loan purchased
        pursuant to this Section 2.03. 

       

      In
        connection with any repurchase or substitution of a Mortgage Loan or the
        cure of
        a breach of a representation or warranty set forth in Section 7 of the Mortgage
        Loan Purchase Agreement pursuant to this Section 2.03, the Seller shall promptly
        furnish to the Trustee an Officer’s Certificate, signed by a duly authorized
        officer of the Seller to the effect that such repurchase, substitution or
        cure
        has been made in accordance with the terms and conditions of this Agreement
        and
        that all conditions precedent to such repurchase, substitution or cure have
        been
        satisfied, including the delivery to the Trustee of the Purchase Price or
        Substitution Adjustment Amount, as applicable, for deposit into the Distribution
        Account, together with copies of any Opinion of Counsel required to be delivered
        pursuant to this Agreement and the related Request for Release, on which
        the
        Trustee may rely. Solely for purposes of the Trustee providing an Assessment
        of
        Compliance, upon receipt of such documentation, the Trustee shall approve
        such
        repurchase, substitution or cure, as applicable, and which approval shall
        consist solely of the Trustee’s receipt of such documentation and deposits. It
        is understood and agreed that the obligation under this Agreement of the
        Seller
        to cure the breach of a representation or warranty set forth in Section 7
        of the
        Mortgage Loan Purchase Agreement or to repurchase or replace any Mortgage
        Loan
        as to which a breach has occurred and is continuing shall constitute the
        sole
        remedies against the Seller respecting such breach available to
        Certificateholders, the Depositor or the Trustee.

       

      (d)  The
        representations and warranties set forth in Section 2.03 hereof shall survive
        delivery of the respective Mortgage Loans and Mortgage Files to the Trustee
        or
        the Custodian for the benefit of the Certificateholders.

       

      Section
        2.04  Representations
        and Warranties of the Depositor. 

       

      The
        Depositor hereby represents and warrants to the Master Servicer and the Trustee
        as follows, as of the date hereof and as of the Closing Date:

       

      (i)  The
        Depositor is duly organized and is validly existing as limited liability
        company
        in good standing under the laws of the State of Delaware and has full power
        and
        authority necessary to own or hold its properties and to conduct its business
        as
        now conducted by it and to enter into and perform its obligations under this
        Agreement.

       

      (ii)  The
        Depositor has the full power and authority to execute, deliver and perform,
        and
        to enter into and consummate the transactions contemplated by, this Agreement
        and has duly authorized, by all necessary action on its part, the execution,
        delivery and performance of this Agreement; and this Agreement, assuming
        the due
        authorization, execution and delivery hereof and thereof by the other parties
        hereto and thereto, constitutes a legal, valid and binding obligation of
        the
        Depositor, enforceable against the Depositor in accordance with its terms,
        subject, as to enforceability, to (i) bankruptcy, insolvency, reorganization,
        moratorium and other similar laws affecting creditors’ rights generally and (ii)
        general principles of equity, regardless of whether enforcement is sought
        in a
        proceeding in equity or at law.

       

      (iii)  The
        execution and delivery of this Agreement by the Depositor, the consummation
        of
        the transactions contemplated by this Agreement, and the fulfillment of or
        compliance with the terms hereof are in the ordinary course of business of
        the
        Depositor and will not (A) result in a breach of any term or provision of
        the
        organizational documents of the Depositor or (B) conflict with, result in
        a
        breach, violation or acceleration of, or result in a default under, the terms
        of
        any other material agreement or instrument to which the Depositor is a party
        or
        by which it may be bound or (C) constitute a violation of any statute, order
        or
        regulation applicable to the Depositor of any court, regulatory body,
        administrative agency or governmental body having jurisdiction over the
        Depositor; and the Depositor is not in breach or violation of any material
        indenture or other material agreement or instrument, or in violation of any
        statute, order or regulation of any court, regulatory body, administrative
        agency or governmental body having jurisdiction over it which breach or
        violation may materially impair the Depositor’s ability to perform or meet any
        of its obligations under this Agreement.

       

      (iv)  No
        litigation is pending, or, to the best of the Depositor’s knowledge, threatened,
        against the Depositor that would materially and adversely affect the execution,
        delivery or enforceability of this Agreement or the ability of the Depositor
        to
        perform its obligations under this Agreement in accordance with the terms
        hereof.

       

      (v)  No
        consent, approval, authorization or order of any court or governmental agency
        or
        body is required for the execution, delivery and performance by the Depositor
        of, or compliance by the Depositor with, this Agreement or the consummation
        of
        the transactions contemplated hereby, or if any such consent, approval,
        authorization or order is required, the Depositor has obtained the same;
        and

       

      (vi)  The
        Depositor has filed all reports required to be filed by Section 13 or Section
        15(d) of the Exchange Act during the preceding 12 months (or for such shorter
        period that the Depositor was required to file such reports) and it has been
        subject to such filing requirements for the past 90 days.

       

      The
        Depositor hereby represents and warrants to the Trustee as of the Closing
        Date,
        following the transfer of the Mortgage Loans to it by the Seller, the Depositor
        had good title to the Mortgage Loans and the related Mortgage Notes were
        subject
        to no offsets, claims, defenses or counterclaims.

       

      It
        is
        understood and agreed that the representations and warranties set forth in
        the
        immediately preceding paragraph shall survive delivery of the Mortgage Files
        to
        the Trustee or the Custodian for the benefit of the Certificateholders. Upon
        discovery by the Depositor, the Trustee of a breach of such representations
        and
        warranties, the party discovering such breach shall give prompt written notice
        to the others and to each Rating Agency.

       

      Section
        2.05  Delivery
        of Opinion of Counsel in Connection with Substitutions and
        Repurchases. 

       

      (a)  Notwithstanding
        any contrary provision of this Agreement, with respect to any Mortgage Loan
        that
        is not in default or as to which default is not reasonably foreseeable, no
        repurchase or substitution pursuant to Sections 2.02 or 2.03 shall be made
        unless the Sponsor delivers to the Trustee an Opinion of Counsel, addressed
        to
        the Trustee, to the effect that such repurchase or substitution would not
        (i)
        result in the imposition of the tax on “prohibited transactions” of REMIC I,
        REMIC II, REMIC III, REMIC IV or REMIC V or contributions after the Closing
        Date, as defined in Sections 860F(a)(2) and 860G(d) of the Code, respectively,
        or (ii) cause any of REMIC I, REMIC II, REMIC III, REMIC IV or REMIC V to
        fail
        to qualify as a REMIC at any time that any Certificates are outstanding.
        Any
        Mortgage Loan as to which repurchase or substitution was delayed pursuant
        to
        this paragraph shall be repurchased or the substitution therefor shall occur
        (subject to compliance with Sections 2.02 or 2.03) upon the earlier of (a)
        the
        occurrence of a default or a default becoming reasonably foreseeable with
        respect to such Mortgage Loan and (b) receipt by the Trustee of an Opinion
        of
        Counsel addressed to the Trustee to the effect that such repurchase or
        substitution, as applicable, will not result in the events described in clause
        (i) or clause (ii) of the preceding sentence.

       

      (b)  Upon
        discovery by the Depositor, the Seller, the Custodian or the Master Servicer
        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
        promptly (and in any event within 5 Business Days of discovery) give written
        notice thereof to the other parties and the Trustee. In connection therewith,
        the Trustee, or the Custodian on its behalf, shall require the Seller, at
        the
        Seller’s option, to either (i) substitute, if the conditions in Section 2.03(d)
        with respect to substitutions are satisfied, a Replacement Mortgage Loan
        for the
        affected Mortgage Loan, or (ii) repurchase the affected Mortgage Loan within
        90
        days of such discovery in the same manner as it would a Mortgage Loan for
        a
        breach of representation or warranty contained in Section 2.03. The Trustee,
        or
        the Custodian on its behalf, shall reconvey to the Seller the Mortgage Loan
        to
        be released pursuant hereto (and the Custodian shall deliver the related
        Mortgage File) 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
        contained in Section 2.03.

       

      Section
        2.06  Countersignature
        and Delivery of Certificates. 

       

      (a)  The
        Trustee acknowledges the sale, transfer and assignment to it of the Trust
        Fund
        and, concurrently with such transfer and assignment, has executed, countersigned
        and delivered, to or upon the order of the Depositor, the Certificates in
        authorized denominations evidencing the entire ownership of the Trust Fund.
        The
        Trustee agrees to hold the Trust Fund and exercise the rights referred to
        above
        for the benefit of all present and future Holders of the Certificates and
        to
        perform the duties set forth in this Agreement in accordance with its
        terms.

       

      (b)  The
        Depositor concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        REMIC
        I Regular Interests and the other assets of REMIC II for the benefit of the
        holders of the REMIC II Interests. The Trustee acknowledges receipt of the
        REMIC
        I Regular Interests (which are uncertificated) and the other assets of REMIC
        II
        and declares that it holds and will hold the same in trust for the exclusive
        use
        and benefit of the holders of the REMIC II Interests.

       

      (c)  The
        Depositor concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        REMIC
        II Regular Interests and the other assets of REMIC III for the benefit of
        the
        holders of the Certificates (other than the Class C, Class P and Class R
        Certificates), the Class C Interest, the Class P Interest and the Class R-3
        Certificates. The Trustee acknowledges receipt of the REMIC II Regular Interests
        (which are uncertificated) and the other assets of REMIC III and declares
        that
        it holds and will hold the same in trust for the exclusive use and benefit
        of
        the holders of the Certificates (other than the Class C, Class P and Class
        R
        Certificiates), the Class C Interest, the Class P Interest and the Class
        R-3
        Certificates.

       

      (d)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        C Interest for the benefit of the Holders of the Class C Certificates and
        the
        Class RX Certificates (in respect of the Class R-4 Interest). The Trustee
        acknowledges receipt of the Class C Interest (which is uncertificated) and
        declares that it holds and will hold the same in trust for the exclusive
        use and
        benefit of the Holders of the Class C Certificates and the Class RX Certificates
        (in respect of the Class R-4 Interest).

       

      (e)  The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey in trust to the Trustee without
        recourse all the right, title and interest of the Depositor in and to the
        Class
        P Interest for the benefit of the Holders of the Class P Certificates and
        the
        Class RX Certificates (in respect of the Class R-5 Interest). The Trustee
        acknowledges receipt of the Class P Interest (which is uncertificated) and
        declares that it holds and will hold the same in trust for the exclusive
        use and
        benefit of the Holders of the Class P Certificates and the Class RX Certificates
        (in respect of the Class R-5 Interest).

       

      Section
        2.07  Purposes
        and Powers of the Trust. 

       

      The
        purpose of the common law trust, as created hereunder, is to engage in the
        following activities:

       

      (a)  acquire
        and hold the Mortgage Loans and the other assets of the Trust Fund and the
        proceeds therefrom;

       

      (b)  to
        issue
        the Certificates sold to the Depositor in exchange for the Mortgage
        Loans;

       

      (c)  to
        make
        distributions on the Certificates;

       

      (d)  to
        engage
        in those activities that are necessary, suitable or convenient to accomplish
        the
        foregoing or are incidental thereto or connected therewith; and

       

      (e)  subject
        to compliance with this Agreement, to engage in such other activities as
        may be
        required in connection with conservation of the Trust Fund and the making
        of
        distributions to the Certificateholders.

       

      The
        Trust
        is hereby authorized to engage in the foregoing activities. The Trust shall
        not
        engage in any activity other than in connection with the foregoing or other
        than
        as required or authorized by the terms of this Agreement while any Certificate
        is outstanding.

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        III

      
 

      ADMINISTRATION
        AND SERVICING OF

      THE
        MORTGAGE
        LOANS 

       

      Section
        3.01  The
        Master Servicer to act as Master Servicer. 

       

      The
        Master Servicer shall service and administer the Mortgage Loans in accordance
        with customary and usual standards of practice of prudent mortgage loan
        servicers in the respective states in which the related Mortgaged Properties
        are
        located. In connection with such servicing and administration, the Master
        Servicer shall have full power and authority, acting alone and/or through
        subservicers as provided in Section 3.03, to do or cause to be done any and
        all
        things that it may deem necessary or desirable in connection with such servicing
        and administration, including but not limited to, the power and authority,
        subject to the terms hereof (i) to execute and deliver, on behalf of the
        Certificateholders, the Trustee, customary consents or waivers and other
        instruments and documents, (ii) to consent to transfers of any related Mortgaged
        Property and assumptions of the Mortgage Notes and related Mortgages (but
        only
        in the manner provided herein), (iii) to collect any Insurance Proceeds and
        other Liquidation Proceeds or Subsequent Recoveries, and (iv) subject to
        Section
        3.09, to effectuate foreclosure or other conversion of the ownership of the
        Mortgaged Property securing any Mortgage Loan; provided that the Master Servicer
        shall take no action that is inconsistent with or prejudices the interests
        of
        the Trust Fund or the Certificateholders in any Mortgage Loan or the rights
        and
        interests of the Depositor or the Trustee under this Agreement.

       

      Without
        limiting the generality of the foregoing, the Master Servicer, in its own
        name
        or in the name of the Trust, the Depositor or the Trustee, is hereby authorized
        and empowered by the Trust, the Depositor and the Trustee, when the Master
        Servicer believes it appropriate in its reasonable judgment, to execute and
        deliver, on behalf of the Trustee, the Depositor, the Certificateholders
        or any
        of them, any and all instruments of satisfaction or cancellation, or of partial
        or full release or discharge and all other comparable instruments, with respect
        to the Mortgage Loans, and with respect to the related Mortgaged Properties
        held
        for the benefit of the Certificateholders. The Master Servicer shall prepare
        and
        deliver to the Depositor and/or the Trustee such documents requiring execution
        and delivery by any or all of them as are necessary or appropriate to enable
        the
        Master Servicer to service and administer the Mortgage Loans. Upon receipt
        of
        such documents, the Depositor and/or the Trustee shall execute such documents
        and deliver them to the Master Servicer.

       

      In
        accordance with the standards of the first paragraph of this Section 3.01,
        the
        Master Servicer shall advance or cause to be advanced funds as necessary
        for the
        purpose of effecting the payment of taxes and assessments on the Mortgaged
        Properties relating to the Mortgage Loans, which advances shall be reimbursable
        in the first instance from related collections from the Mortgagors pursuant
        to
        Section 5.04, and further as provided in Section 5.02. All costs incurred
        by the
        Master Servicer, if any, in effecting the timely payments of taxes and
        assessments on the Mortgaged Properties relating to the Mortgage Loans and
        related insurance premiums shall not, for the purpose of calculating monthly
        distributions to the Certificateholders, be added to the Stated Principal
        Balance under the Mortgage Loans, notwithstanding that the terms of such
        Mortgage Loans so permit.

       

      Section
        3.02  Due-on-Sale
        Clauses; Assumption Agreements. 

       

      (a)  Except
        as
        otherwise provided in this Section 3.02, when any property subject to a Mortgage
        has been or is about to be conveyed by the Mortgagor, the Master Servicer
        shall
        to the extent that it has knowledge of such conveyance, enforce any due-on-sale
        clause contained in any Mortgage Note or Mortgage, to the extent permitted
        under
        applicable law and governmental regulations, but only to the extent that
        such
        enforcement will not adversely affect or jeopardize coverage under any Required
        Insurance Policy. Notwithstanding the foregoing, the Master Servicer is not
        required to exercise such rights with respect to a Mortgage Loan if the Person
        to whom the related Mortgaged Property has been conveyed or is proposed to
        be
        conveyed satisfies the terms and conditions contained in the Mortgage Note
        and
        Mortgage related thereto and the consent of the mortgagee under such Mortgage
        Note or Mortgage is not otherwise so required under such Mortgage Note or
        Mortgage as a condition to such transfer. In the event that the Master Servicer
        is prohibited by law from enforcing any such due-on-sale clause, or if coverage
        under any Required Insurance Policy would be adversely affected, or if
        nonenforcement is otherwise permitted hereunder, the Master Servicer is
        authorized, subject to Section 3.02(b), to take or enter into an assumption
        and
        modification agreement from or with the person to whom such property has
        been or
        is about to be conveyed, pursuant to which such person becomes liable under
        the
        Mortgage Note and, unless prohibited by applicable state law, the Mortgagor
        remains liable thereon, provided that the Mortgage Loan shall continue to
        be
        covered (if so covered before the Master Servicer enters such agreement)
        by the
        applicable Required Insurance Policies. The Master Servicer, subject to Section
        3.02(b), is also authorized with the prior approval of the insurers under
        any
        Required Insurance Policies to enter into a substitution of liability agreement
        with such Person, pursuant to which the original Mortgagor is released from
        liability and such Person is substituted as Mortgagor and becomes liable
        under
        the Mortgage Note. Notwithstanding the foregoing, the Master Servicer shall
        not
        be deemed to be in default under this Section 3.02(a) by reason of any transfer
        or assumption that the Master Servicer reasonably believes it is restricted
        by
        law from preventing.

       

      (b)  Subject
        to the Master Servicer’s duty to enforce any due-on-sale clause to the extent
        set forth in Section 3.02(a), in any case in which a Mortgaged Property has
        been
        conveyed to a Person by a Mortgagor, and such Person is to enter into an
        assumption agreement or modification agreement or supplement to the Mortgage
        Note or Mortgage that requires the signature of the Trustee, or if an instrument
        of release signed by the Trustee is required releasing the Mortgagor from
        liability on the related Mortgage Loan, the Master Servicer shall prepare
        and
        deliver or cause to be prepared and delivered to the Trustee for signature
        and
        shall direct, in writing, the Trustee to execute the assumption agreement
        with
        the Person to whom the Mortgaged Property is to be conveyed and such
        modification agreement or supplement to the Mortgage Note or Mortgage or
        other
        instruments as are reasonable or necessary to carry out the terms of the
        Mortgage Note or Mortgage or otherwise to comply with any applicable laws
        regarding assumptions or the transfer of the Mortgaged Property to such Person.
        In connection with any such assumption, no material term of the Mortgage
        Note
        (including, but not limited to, the Mortgage Rate, the amount of the Scheduled
        Payment and any other term affecting the amount or timing of payment on the
        Mortgage Loan) may be changed. In addition, the substitute Mortgagor and
        the
        Mortgaged Property must be acceptable to the Master Servicer in accordance
        with
        its servicing standards as then in effect. The Master Servicer shall notify
        the
        Trustee that any such substitution or assumption agreement has been completed
        by
        forwarding to the Trustee the original of such substitution or assumption
        agreement, which in the case of the original shall be added to the related
        Mortgage File and shall, for all purposes, be considered a part of such Mortgage
        File to the same extent as all other documents and instruments constituting
        a
        part thereof. Any fee collected by the Master Servicer for entering into
        an
        assumption or substitution of liability agreement shall be retained by the
        Master Servicer as additional servicing compensation.

       

      Section
        3.03  Subservicers. 

       

      The
        Master Servicer shall perform all of its servicing responsibilities hereunder
        or
        may cause a subservicer to perform any such servicing responsibilities on
        its
        behalf, but the use by the Master Servicer of a subservicer shall not release
        the Master Servicer from any of its obligations hereunder and the Master
        Servicer shall remain responsible hereunder for all acts and omissions of
        each
        subservicer as fully as if such acts and omissions were those of the Master
        Servicer. The Master Servicer shall pay all fees of each subservicer from
        its
        own funds, and a subservicer’s fee shall not exceed the Servicing Fee payable to
        the Master Servicer hereunder.

       

      At
        the
        cost and expense of the Master Servicer, without any right of reimbursement
        from
        its Protected Account, the Master Servicer shall be entitled to terminate
        the
        rights and responsibilities of a subservicer and arrange for any servicing
        responsibilities to be performed by a successor subservicer; provided, however,
        that nothing contained herein shall be deemed to prevent or prohibit the
        Master
        Servicer, at the Master Servicer’s option, from electing to service the related
        Mortgage Loans itself. In the event that the Master Servicer’s responsibilities
        and duties under this Agreement are terminated pursuant to Section 9.01,
        the
        Master Servicer shall at its own cost and expense terminate the rights and
        responsibilities of each subservicer effective as of the date of termination
        of
        the Master Servicer. The Master Servicer shall pay all fees, expenses or
        penalties necessary in order to terminate the rights and responsibilities
        of
        each subservicer from the Master Servicer’s own funds without reimbursement from
        the Trust Fund.

       

      Notwithstanding
        the foregoing, the Master Servicer shall not be relieved of its obligations
        hereunder and shall be obligated to the same extent and under the same terms
        and
        conditions as if it alone were servicing and administering the Mortgage Loans.
        The Master Servicer shall be entitled to enter into an agreement with a
        subservicer for indemnification of the Master Servicer by the subservicer
        and
        nothing contained in this Agreement shall be deemed to limit or modify such
        indemnification.

       

      Any
        Subservicing Agreement and any other transactions or services relating to
        the
        Mortgage Loans involving a subservicer shall be deemed to be between such
        subservicer and the Master Servicer alone, and the Trustee shall not have
        any
        obligations, duties or liabilities with respect to such subservicer including
        any obligation, duty or liability of the Trustee to pay such subservicer’s fees
        and expenses. For purposes of remittances to the Trustee pursuant to this
        Agreement, the Master Servicer shall be deemed to have received a payment
        on a
        Mortgage Loan when a subservicer has received such payment.

       

      Section
        3.04  Documents,
        Records and Funds in Possession of the Master Servicer To Be Held for
        Trustee. 

       

      Notwithstanding
        any other provisions of this Agreement, the Master Servicer shall transmit
        to
        the Trustee as required by this Agreement all documents and instruments in
        respect of a Mortgage Loan coming into the possession of the Master Servicer
        from time to time and shall account fully to the Trustee for any funds received
        by the Master Servicer or that otherwise are collected by the Master Servicer
        as
        Liquidation Proceeds or Insurance Proceeds in respect of any such Mortgage
        Loan.
        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, including but
        not
        limited to, any funds on deposit in the Protected Account, shall be held
        by the
        Master Servicer for and on behalf of the Trustee and shall be and remain
        the
        sole and exclusive property of the Trustee, subject to the applicable provisions
        of this Agreement. The Master Servicer also agrees that it shall not create,
        incur or subject any Mortgage File or any funds that are deposited in the
        Protected Account or the Distribution Account or in any Escrow Account, or
        any
        funds that otherwise are or may become due or payable to the Trustee for
        the
        benefit of the Certificateholders, to any claim, lien, security interest,
        judgment, levy, writ of attachment or other encumbrance, or assert by legal
        action or otherwise any claim or right of set off against any Mortgage File
        or
        any funds collected on, or in connection with, a Mortgage Loan, except, however,
        that the Master Servicer shall be entitled to set off against and deduct
        from
        any such funds any amounts that are properly due and payable to the Master
        Servicer under this Agreement.

       

      Section
        3.05  Maintenance
        of Hazard Insurance. 

       

      The
        Master Servicer shall cause to be maintained, for each Mortgage Loan, hazard
        insurance on buildings upon, or comprising part of, the Mortgaged Property
        against loss by fire, hazards of extended coverage and such other hazards
        as are
        customary in the area where the related Mortgaged Property is located with
        an
        insurer which is licensed to do business in the state where the related
        Mortgaged Property is located. Each such policy of standard hazard insurance
        shall contain, or have an accompanying endorsement that contains, a standard
        mortgagee clause. The Master Servicer shall also cause flood insurance to
        be
        maintained on property acquired upon foreclosure or deed in lieu of foreclosure
        of any Mortgage Loan, to the extent described below. Pursuant to Section
        5.01,
        any amounts collected by the Master Servicer under any such policies (other
        than
        the amounts to be applied to the restoration or repair of the related Mortgaged
        Property or property thus acquired or amounts released to the Mortgagor in
        accordance with the Master Servicer’s normal servicing procedures) shall be
        deposited in the Protected Account. Any cost incurred by the Master Servicer
        in
        maintaining any such insurance shall not, for the purpose of calculating
        monthly
        distributions to the Certificateholders or remittances to the Trustee for
        their
        benefit, be added to the principal balance of the Mortgage Loan, notwithstanding
        that the terms of the Mortgage Loan so permit. Such costs shall be recoverable
        by the Master Servicer out of late payments by the related Mortgagor or out
        of
        Liquidation Proceeds to the extent permitted by Section 5.02. It is understood
        and agreed that no earthquake or other additional insurance is to be required
        of
        any Mortgagor or maintained on property acquired in respect of a Mortgage
        other
        than pursuant to such applicable laws and regulations as shall at any time
        be in
        force and as shall require such additional insurance. If the Mortgaged Property
        is located at the time of origination of the related Mortgage Loan in a
        federally designated special flood hazard area and such area is participating
        in
        the national flood insurance program, the Master Servicer shall cause flood
        insurance to be maintained with respect to such Mortgage Loan. Such flood
        insurance shall be in an amount equal to the least of (i) the Stated Principal
        Balance of the related Mortgage Loan, (ii) minimum amount required to compensate
        for damage or loss on a replacement cost basis or (iii) the maximum amount
        of
        such insurance available for the related Mortgaged Property under the Flood
        Disaster Protection Act of 1973, as amended.

       

      In
        the
        event that the Master Servicer shall obtain and maintain a blanket policy
        insuring against hazard losses on all of the Mortgage Loans, it shall
        conclusively be deemed to have satisfied its obligations as set forth in
        the
        first sentence of this Section 3.05, it being understood and agreed that
        such
        policy may contain a deductible clause on terms substantially equivalent
        to
        those commercially available and maintained by comparable servicers. If such
        policy contains a deductible clause, the Master Servicer shall, in the event
        that there shall not have been maintained on the related Mortgaged Property
        a
        policy complying with the first sentence of this Section 3.05, and there
        shall
        have been a loss that would have been covered by such policy, deposit in
        the
        Protected Account the amount not otherwise payable under the blanket policy
        because of such deductible clause. Such deposit shall be from the Master
        Servicer’s own funds without reimbursement therefor. In connection with its
        activities as administrator and servicer of the Mortgage Loans, the Master
        Servicer agrees to present, on behalf of itself, the Depositor and the Trustee
        for the benefit of the Certificateholders, claims under any such blanket
        policy.

       

      Section
        3.06  Presentment
        of Claims and Collection of Proceeds. 

       

      The
        Master Servicer shall prepare and present on behalf of the Trustee and the
        Certificateholders all claims under the Insurance Policies relating to the
        Mortgage Loans 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 Insurance Policies. Any proceeds disbursed to
        the
        Master Servicer in respect of such Insurance Policies shall be promptly
        deposited in the Protected 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
        3.07  Maintenance
        of the Primary Mortgage Insurance Policies. 

       

      (a)  The
        Master Servicer shall not take any action that would result in noncoverage
        under
        any applicable Primary Mortgage Insurance Policy of any loss which, but for
        the
        actions of the Master Servicer would have been covered thereunder. The Master
        Servicer shall use its best efforts 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. The Master Servicer
        shall not cancel or refuse to renew any such Primary Mortgage Insurance Policy
        that is in effect at the date of the initial issuance of the related Mortgage
        Note and is required to be kept in force hereunder.

       

      (b)  The
        Master Servicer agrees to present on behalf of the Trustee and the
        Certificateholders, claims to the insurer under any Primary Mortgage Insurance
        Policies relating to the Mortgage Loans and, in this regard, to take such
        reasonable action as shall be necessary to permit recovery under any Primary
        Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant
        to
        Section 5.01, any amounts collected by the Master Servicer under any Primary
        Mortgage Insurance Policies shall be deposited in the Protected Account,
        subject
        to withdrawal pursuant to Section 5.02 hereof.

       

      Section
        3.08  Fidelity
        Bond, Errors and Omissions Insurance. 

       

      The
        Master Servicer shall maintain, at its own expense, a blanket fidelity bond
        and
        an errors and omissions insurance policy, with broad coverage with responsible
        companies on all officers, employees or other persons acting in any capacity
        with regard to the Mortgage Loans and who handle funds, money, documents
        and
        papers relating to the Mortgage Loans. The fidelity bond and errors and
        omissions insurance shall be in the form of the Mortgage Banker’s Blanket Bond
        and shall protect and insure the Master Servicer against losses, including
        forgery, theft, embezzlement, fraud, errors and omissions and negligent acts
        of
        such persons. Such fidelity bond shall also protect and insure the Master
        Servicer against losses in connection with the failure to maintain any insurance
        policies required pursuant to this Agreement and the release or satisfaction
        of
        a Mortgage Loan which is not in accordance with Accepted Servicing Practices.
        No
        provision of this Section 3.08 requiring the fidelity bond and errors and
        omissions insurance shall diminish or relieve the Master Servicer from its
        duties and obligations as set forth in this Agreement. The minimum coverage
        under any such bond and insurance policy shall be at least equal to the
        corresponding amounts required by Accepted Servicing Practices. The Master
        Servicer shall deliver to the Trustee a certificate from the surety and the
        insurer as to the existence of the fidelity bond and errors and omissions
        insurance policy and shall obtain a statement from the surety and the insurer
        that such fidelity bond or insurance policy shall in no event be terminated
        or
        materially modified without thirty days prior written notice to the Trustee.
        The
        Master Servicer shall notify the Trustee within five business days of receipt
        of
        notice that such fidelity bond or insurance policy will be, or has been,
        materially modified or terminated. The Trustee for the benefit of the
        Certificateholders must be named as loss payees on the fidelity bond and
        as
        additional insured on the errors and omissions policy.

       

      The
        Master Servicer shall provide to the Trustee and the Depositor evidence of
        the
        authorization of the person signing any certification or statement, copies
        or
        other evidence of fidelity bond and errors and omissions insurance, financial
        information and reports, and such other information related to the Master
        Servicer or any subservicer engaged by it or the Master Servicer’s or such
        subservicer’s performance hereunder or under the related Subservicing Agreement
        as may be reasonably requested by the Trustee or the Depositor.

       

      Section
        3.09  Realization
        Upon Defaulted Mortgage Loans; Determination of Excess Liquidation Proceeds
        and
        Realized Losses; Repurchases of Certain Mortgage Loans. 

       

      (a)  The
        Master Servicer shall use reasonable efforts to foreclose upon or otherwise
        comparably convert the ownership of 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. In connection
        with such foreclosure or other conversion, the Master Servicer shall follow
        such
        practices and procedures as it shall deem necessary or advisable and as shall
        be
        normal and usual in its general mortgage servicing activities and the
        requirements of the insurer under any Required Insurance Policy; provided
        that
        the Master Servicer shall not be required to expend its own funds in connection
        with any foreclosure or towards the restoration of any property unless it
        shall
        determine (i) that such restoration and/or foreclosure will increase the
        proceeds of liquidation of the Mortgage Loan after reimbursement to itself
        of
        such expenses and (ii) that such expenses will be recoverable to it through
        Insurance Proceeds or Liquidation Proceeds (respecting which it shall have
        priority for purposes of withdrawals from the Protected Account pursuant
        to
        Section 5.02). If the Master Servicer reasonably believes that Liquidation
        Proceeds with respect to any such Mortgage Loan would not be increased as
        a
        result of such foreclosure or other action, such Mortgage Loan will be
        charged-off and will become a Liquidated Loan. The Master Servicer will give
        notice of any such charge-off to the Trustee. The Master Servicer shall be
        responsible for all other costs and expenses incurred by it in any such
        proceedings; provided that such costs and expenses shall be Servicing Advances
        and that it shall be entitled to reimbursement thereof from the proceeds
        of
        liquidation of the related Mortgaged Property, as contemplated in Section
        5.02.
        If the Master Servicer has knowledge that a Mortgaged Property that the Master
        Servicer is contemplating acquiring in foreclosure or by deed- in-lieu of
        foreclosure is located within a one-mile radius of any site with environmental
        or hazardous waste risks known to the Master Servicer, the Master Servicer
        will,
        prior to acquiring the related Mortgaged Property, consider such risks and
        only
        take action in accordance with its established environmental review
        procedures.

       

      With
        respect to any REO Property, the deed or certificate of sale shall be taken
        in
        the name of the Trustee for the benefit of the Certificateholders (or the
        Trustee’s nominee on behalf of the Certificateholders). The Trustee’s name shall
        be placed on the title to such REO Property solely as the Trustee hereunder
        and
        not in its individual capacity. The Master Servicer shall ensure that the
        title
        to such REO Property references this Agreement and the Trustee’s capacity
        hereunder. Pursuant to its efforts to sell such REO Property, the Master
        Servicer shall either itself or through an agent selected by the Master Servicer
        protect and conserve such REO Property in the same manner and to such extent
        as
        is customary in the locality where such REO Property is located and may,
        incident to its conservation and protection of the interests of the
        Certificateholders, rent the same, or any part thereof, as the Master Servicer
        deems to be in the best interest of the Master Servicer and the
        Certificateholders for the period prior to the sale of such REO Property.
        The
        Master Servicer shall prepare for and deliver to the Trustee a statement
        with
        respect to each such REO Property that has been rented showing the aggregate
        rental income received and all expenses incurred in connection with the
        management and maintenance of such REO Property at such times as is necessary
        to
        enable the Trustee to comply with the reporting requirements of the REMIC
        Provisions. The net monthly rental income, if any, from such REO Property
        shall
        be deposited in the Protected Account no later than the close of business
        on
        each Determination Date. The Master Servicer shall perform the tax reporting
        and
        withholding related to foreclosures, abandonments and cancellation of
        indebtedness income as specified by Sections 1445, 6050J and 6050P of the
        Code
        by preparing and filing such tax and information returns, as may be
        required.

       

      In
        the
        event that the Trust Fund acquires any Mortgaged Property as aforesaid or
        otherwise in connection with a default or a default becoming reasonably
        foreseeable on a Mortgage Loan, the Master Servicer shall dispose of such
        Mortgaged Property prior to three years after its acquisition by the Trust
        Fund
        or, at the expense of the Trust Fund, request more than 60 days prior to
        the day
        on which such three-year period would otherwise expire, an extension of the
        three-year grace period unless the Trustee shall have been supplied with
        an
        Opinion of Counsel addressed to the Trustee (such opinion not to be an expense
        of the Trustee) to the effect that the holding by the Trust Fund of such
        Mortgaged Property subsequent to such three-year period will not result in
        the
        imposition of taxes on “prohibited transactions” of REMIC I, REMIC II, REMIC
        III, REMIC IV or REMIC V as defined in Section 860F of the Code or cause
        either
        REMIC I, REMIC II, REMIC III, REMIC IV or REMIC V to fail to qualify as a
        REMIC
        at any time that any Certificates are outstanding, in which case the Trust
        Fund
        may continue to hold such Mortgaged Property (subject to any conditions
        contained in such Opinion of Counsel). Notwithstanding any other provision
        of
        this Agreement, no Mortgaged Property acquired by the Trust Fund shall be
        rented
        (or allowed to continue to be rented) or otherwise used for the production
        of
        income by or on behalf of the Trust Fund in such a manner or pursuant to
        any
        terms that would (i) cause such Mortgaged Property to fail to qualify as
        “foreclosure property” within the meaning of Section 860G(a)(8) of the Code or
        (ii) subject any of REMIC I, REMIC II, REMIC III, REMIC IV or REMIC V to
        the
        imposition of any federal, state or local income taxes on the income earned
        from
        such Mortgaged Property under Section 860G(c) of the Code or otherwise, unless
        the Master Servicer has agreed to indemnify and hold harmless the Trust Fund
        with respect to the imposition of any such taxes.

       

      The
        decision of the Master Servicer to foreclose on a defaulted Mortgage Loan
        shall
        be subject to a determination by the Master Servicer that the proceeds of
        such
        foreclosure would exceed the costs and expenses of bringing such a proceeding.
        The income earned from the management of any Mortgaged Properties acquired
        through foreclosure or other judicial proceeding, net of reimbursement to
        the
        Master Servicer for expenses incurred (including any property or other taxes)
        in
        connection with such management and net of unreimbursed Servicing Fees,
        Advances, Servicing Advances and any management fee paid or to be paid with
        respect to the management of such Mortgaged Property, shall be applied to
        the
        payment of principal of, and interest on, the related defaulted Mortgage
        Loans
        (with interest accruing as though such Mortgage Loans were still current)
        and
        all such income shall be deemed, for all purposes in the Agreement, to be
        payments on account of principal and interest on the related Mortgage Notes
        and
        shall be deposited into the Protected Account. To the extent the income received
        during a Prepayment Period is in excess of the amount attributable to amortizing
        principal and accrued interest at the related Mortgage Rate on the related
        Mortgage Loan, such excess shall be considered to be a partial Principal
        Prepayment for such Mortgage Loan for all purposes hereof.

       

      The
        Liquidation Proceeds from any liquidation of a related Mortgage Loan, net
        of any
        payment to the Master Servicer as provided above, shall be deposited in the
        Protected Account on the next succeeding Determination Date following receipt
        thereof for distribution on the related Distribution Date, except that any
        Excess Liquidation Proceeds shall be retained by the Master Servicer as
        additional servicing compensation.

       

      The
        proceeds of any Liquidated Loan, as well as any recovery resulting from a
        partial collection of related Liquidation Proceeds or any income from a related
        REO Property, shall be applied in the following order of priority: first,
        to
        reimburse the Master Servicer for any related unreimbursed Servicing Advances
        and Servicing Fees, pursuant to Section 5.02 or this Section 3.09; second,
        to
        reimburse the Master Servicer for any unreimbursed Advances pursuant to Section
        5.02 or this Section 3.09; third, to accrued and unpaid interest (to the
        extent
        no Advance has been made for such amount) on the Mortgage Loan or related
        REO
        Property, at the Net Mortgage Rate to the first day of the month in which
        such
        amounts are required to be distributed; and fourth, as a recovery of principal
        of the Mortgage Loan.

       

      (b)  On
        each
        Determination Date, the Master Servicer shall determine the respective aggregate
        amounts of Excess Liquidation Proceeds and Realized Losses, if any, for the
        related Prepayment Period.

       

      (c)  The
        Master Servicer has no intent to foreclose on any Mortgage Loan based on
        the
        delinquency characteristics as of the Closing Date; provided, that the foregoing
        does not prevent the Master Servicer from initiating foreclosure proceedings
        on
        any date hereafter if the facts and circumstances of such Mortgage Loans
        including delinquency characteristics in the Master Servicer’s discretion so
        warrant such action.

       

      Section
        3.10  Servicing
        Compensation. 

       

      As
        compensation for its activities hereunder, the Master Servicer shall be entitled
        to retain or withdraw from its Protected Account out of each payment of interest
        on a Mortgage Loan included in the Trust Fund an amount equal to the Servicing
        Fee.

       

      Additional
        servicing compensation in the form of any Excess Liquidation Proceeds,
        assumption fees, late payment charges, all Prepayment Interest Excess on
        any
        Mortgage Loan, all income and gain net of any losses realized from Permitted
        Investments with respect to funds in or credited to the Protected Account
        shall
        be retained by the Master Servicer to the extent not required to be deposited
        in
        the Protected Account pursuant to Section 5.02. The Master Servicer shall
        be
        required to pay all expenses incurred by it in connection with its servicing
        activities hereunder (including payment of any premiums for hazard insurance,
        as
        required by Section 3.05 and maintenance of the other forms of insurance
        coverage required by Section 3.07) and shall not be entitled to reimbursement
        therefor except as specifically provided in Section 5.02.

       

      EMC
        shall
        be entitled to retain any Prepayment Interest Excess.

       

      Section
        3.11  REO
        Property. 

       

      (a)  In
        the
        event the Trust Fund acquires ownership of any REO Property in respect of
        any
        related Mortgage Loan, the deed or certificate of sale shall be issued to
        the
        Trustee, or to its nominee, on behalf of the related Certificateholders.
        The
        Master Servicer shall sell any such REO Property as expeditiously as possible
        and in accordance with the provisions of this Agreement. Pursuant to its
        efforts
        to sell such REO Property, the Master Servicer shall protect and conserve
        such
        REO Property in the manner and to the extent required herein, in accordance
        with
        the REMIC Provisions.

       

      (b)  The
        Master Servicer shall deposit all funds collected and received in connection
        with the operation of any REO Property in respect of any Mortgage Loan into
        the
        Protected Account maintained by the Master Servicer.

       

      (c)  The
        Master Servicer, upon the final disposition of any REO Property in respect
        of
        any Mortgage Loan, shall be entitled to reimbursement for any related
        unreimbursed Advances, unreimbursed Servicing Advances or Servicing Fees
        from
        Liquidation Proceeds received in connection with the final disposition of
        such
        REO Property; provided, that any such unreimbursed Advances or Servicing
        Fees 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.

       

      Section
        3.12  Liquidation
        Reports. 

       

      Upon
        the
        foreclosure of any Mortgaged Property or the acquisition thereof by the Trust
        Fund pursuant to a deed-in-lieu of foreclosure, the Master Servicer shall
        submit
        a liquidation report to the Trustee containing such information as shall
        be
        mutually acceptable to the Master Servicer and the Trustee with respect to
        such
        Mortgaged Property.

       

      Section
        3.13  Books
        and
        Records. 

       

      The
        Master Servicer shall be responsible for maintaining, and shall maintain,
        a
        complete set of books and records for the Mortgage Loans which shall be
        appropriately identified in the Master Servicer’s computer system to clearly
        reflect the ownership of the Mortgage Loans by the Trust. In particular,
        the
        Master Servicer shall maintain in its possession, available for inspection
        by
        the Trustee and shall deliver to the Trustee upon demand, evidence of compliance
        with all federal, state and local laws, rules and regulations. To the extent
        that original documents are not required for purposes of realization of
        Liquidation Proceeds or Insurance Proceeds, documents maintained by the Master
        Servicer may be in the form of microfilm or microfiche or such other reliable
        means of recreating original documents, including, but not limited to, optical
        imagery techniques so long as the Master Servicer complies with the requirements
        of Accepted Servicing Practices.

       

      The
        Master Servicer shall maintain with respect to each Mortgage Loan and shall
        make
        available for inspection by the Trustee the related servicing file during
        the
        time such Mortgage Loan is subject to this Agreement and thereafter in
        accordance with applicable law.

       

      Payments
        on the Mortgage Loans, including any payoffs, made in accordance with the
        related Mortgage File will be entered in the Master Servicer’s set of books and
        records no more than two business days after receipt and identification,
        and
        allocated to principal or interest as specified in the related Mortgage
        File.

       

      Section
        3.14  Annual
        Statement as
        to
        Compliance. 

       

      The
        Master Servicer and the Trustee shall deliver (or otherwise make available)
        to
        the Depositor, Master Servicer and the Trustee not later than March
        15th
        of each
        calendar year beginning in 2007, an Officer’s Certificate (an “Annual Statement
        of Compliance”) stating, as to each signatory thereof, that (i) a review of the
        activities of each such party during the preceding calendar year and of its
        performance under this Agreement has been made under such officer’s supervision
        and (ii) to the best of such officer’s knowledge, based on such review, such
        party has fulfilled all of its obligations under this Agreement in all material
        respects throughout such year, 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 of the cure provisions thereof. Such
        Annual Statement of Compliance shall contain no restrictions or limitations
        on
        its use. In the event that certain servicing responsibilities with respect
        to
        any Mortgage Loan have been delegated by the Master Servicer to a subservicer
        or
        subcontractor, each such entity shall cause such subservicer or subcontractor
        to
        deliver a similar Annual Statement of Compliance by such subservicer or
        subcontractor to the Depositor, the Master Servicer and the Trustee as described
        above as and when required with respect to the Master Servicer.

       

      Failure
        of the Master Servicer to comply with this Section 3.14 (including with respect
        to the timeframes required herein) shall be deemed an Event of Default, and
        at
        the written direction of the Depositor, the Trustee shall, in addition to
        whatever rights the Trustee may have under this Agreement and at law or equity
        or to damages, including injunctive relief and specific performance, upon
        notice
        immediately terminate all of the rights and obligations of the Master Servicer
        under this Agreement and in and to the Mortgage Loans and the proceeds thereof
        without compensating the Master Servicer for the same (but subject to the
        Master
        Servicer’s right to reimbursement of all amounts for which it is entitled to be
        reimbursed prior to the date of termination). Failure of the Trustee to comply
        with this Section 3.14 (including with respect to the timeframes required
        in
        this Section) which failure results in a failure to timely file the related
        Form
        10-K, shall be deemed a default which may result in the termination of the
        Trustee pursuant to Section 9.08 of this Agreement, and the Depositor shall,
        in
        addition to whatever rights the Depositor may have under this Agreement and
        at
        law or equity or to damages, including injunctive relief and specific
        performance, upon notice immediately terminate all of the rights and obligations
        of the Trustee under this Agreement and in and to the Mortgage Loans and
        the
        proceeds thereof without compensating the Trustee for the same (but subject
        to
        the Trustee’s right to reimbursement of all amounts for which it is entitled to
        be reimbursed prior to the date of termination). This paragraph shall supersede
        any other provision in this Agreement or any other agreement to the
        contrary.

       

      In
        the
        event the Master Servicer, the Trustee or any subservicer or subcontractor
        engaged by either such party is terminated or resigns pursuant to the terms
        of
        the Agreement, or any other applicable agreement in the case of a subservicer
        or
        subcontractor, as the case may be, such party shall provide an Annual Statement
        of Compliance pursuant to this Section 3.14 or to the related section of
        such
        other applicable agreement, as the case may be, as to the performance of
        its
        obligations with respect to the period of time it was subject to this Agreement
        or any other applicable agreement, as the case may be notwithstanding any
        such
        termination or resignation.

       

      Section
        3.15  Assessments
        of Compliance and Attestation Reports. 

       

      The
        Master Servicer shall service and administer the Mortgage Loans in accordance
        with all applicable requirements of the Servicing Criteria. Pursuant to Rules
        13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB, each
        of
        the Master Servicer, the Trustee and the Custodian (to the extent set forth
        in
        this Section) (each, an “Attesting Party”) shall deliver (or otherwise make
        available) to the Master Servicer, the Trustee and the Depositor on or before
        March 15th
        of each
        calendar year beginning in 2007, a report regarding such Attesting Party’s
        assessment of compliance (an “Assessment of Compliance”) with the Servicing
        Criteria during the preceding calendar year. The Assessment of Compliance,
        as
        set forth in Regulation AB, must contain the following:

       

      (a)  A
        statement by an authorized officer of such Attesting Party of its authority
        and
        responsibility for assessing compliance with the Servicing Criteria applicable
        to the related Attesting Party;

       

      (b)  A
        statement by an authorized officer that such Attesting Party used the Servicing
        Criteria attached as Exhibit N hereto, and which will also be attached to
        the
        Assessment of Compliance, to assess compliance with the Servicing Criteria
        applicable to the related Attesting Party;

       

      (c)  An
        assessment by such officer of the related Attesting Party’s compliance with the
        applicable Servicing Criteria for the period consisting of the preceding
        calendar year, including disclosure of any material instance of noncompliance
        with respect thereto during such period, which assessment shall be based
        on the
        activities such Attesting Party performs with respect to asset-backed securities
        transactions taken as a whole involving the related Attesting Party, that
        are
        backed by the same asset type as the Mortgage Loans;

       

      (d)  A
        statement that a registered public accounting firm has issued an attestation
        report on the related Attesting Party’s Assessment of Compliance for the period
        consisting of the preceding calendar year; and

       

      (e)  A
        statement as to which of the Servicing Criteria, if any, are not applicable
        to
the
        related Attesting
        Party, which statement shall be based on the activities such Attesting Party
        performs with respect to asset-backed securities transactions taken as a
        whole
        involving such Attesting Party, that are backed by the same asset type as
        the
        Mortgage Loans.

       

      Such
        report at a minimum shall address each of the Servicing Criteria specified
        on
        Exhibit N hereto which are indicated as applicable to the related Attesting
        Party.

       

      On
        or
        before March 15th
        of each
        calendar year beginning in 2007, each Attesting Party shall furnish to the
        Master Servicer, the Depositor and the Trustee a report (an “Attestation
        Report”) by a registered public accounting firm that attests to, and reports on,
        the Assessment of Compliance made by the related Attesting Party, as required
        by
        Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation
        AB,
        which Attestation Report must be made in accordance with standards for
        attestation reports issued or adopted by the Public Company Accounting Oversight
        Board. 

       

      The
        Master Servicer shall cause, any subservicer and each subcontractor determined
        by it to be “participating in the servicing function” within the meaning of Item
        1122 of Regulation AB to deliver to the Trustee, the Master Servicer and
        the
        Depositor an Assessment of Compliance and Attestation Report as and when
        provided above. Such Assessment of Compliance, as to any subservicer or
        subcontractor, shall at a minimum address the applicable Servicing Criteria
        specified on Exhibit N hereto which are indicated as applicable to the “master
        servicer” to the extent such subservicer or subcontractor is performing any
        servicing function for the party who engages it and to the extent such party
        is
        not itself addressing the Servicing Criteria related to such servicing function
        in its own Assessment of Compliance. The Trustee shall confirm that each
        of the
        Assessments of Compliance delivered to it, taken as a whole, address all
        of the
        Servicing Criteria and taken individually address the Servicing Criteria
        for
        each party as set forth in Exhibit N and notify the Depositor of any exceptions.
        Notwithstanding the foregoing, as to any subcontractor, an Assessment of
        Compliance is not required to be delivered unless it is required as part
        of a
        Form 10-K with respect to the Trust Fund.

       

      In
        addition, for the avoidance of doubt and without duplication, the Master
        Servicer shall (and shall cause each subservicer engaged by it to) provide
        the
        following information to the Depositor and the Trustee: (A) any Event of
        Default
        hereunder and any subservicer event of default under the terms of the related
        Subservicing Agreement, (B) any merger, consolidation or sale of substantially
        all of the assets of the Master Servicer or, to the best of the Master
        Servicer’s knowledge, any such subservicer, and (C) the Master Servicer’s entry
        into an agreement with a subservicer to perform or assist in the performance
        of
        any of the Master Servicer’s obligations. 

       

      In
        addition, the Master Servicer, shall cause each subservicer engaged by it
        to
        provide the following information to the Depositor and the Trustee, to the
        extent applicable, within the timeframes that the Master Servicer would
        otherwise have to provide such information:

       

      (A)  any
        material modifications, extensions or waivers of pool asset terms, fees,
        penalties or payments during the distribution period or that have cumulatively
        become material over time (Item 1121(a)(11) of Regulation AB);

       

      (B)  material
        breaches of pool asset representations or warranties or transaction covenants
        (Item 1121(a)(12) of Regulation AB); and

       

      (C)  information
        regarding new asset-backed securities issuances backed by the same pool assets,
        any pool asset changes (such as, additions, substitutions or repurchases),
        and
        any material changes in origination, underwriting or other criteria for
        acquisition or selection of pool assets (Item 1121(a)(14) of Regulation
        AB).

       

      The
        Custodian shall deliver to the Master Servicer, the Trustee and the Depositor
        an
        Assessment of Compliance and Attestation Report, as and when provided above,
        which shall at a minimum address each of the Servicing Criteria specified
        on
        Exhibit N hereto which are indicated as applicable to a “custodian”.
        Notwithstanding the foregoing, an Assessment of Compliance or Attestation
        Report
        is not required to be delivered by any Custodian unless it is required as
        part
        of a Form 10-K with respect to the Trust Fund.

       

      Failure
        of the Master Servicer to comply with this Section 3.15 (including with respect
        to the timeframes required herein) shall
        constitute an
        Event
        of Default, and at the written direction of the Depositor the Trustee shall,
        in
        addition to whatever rights the Trustee may have under this Agreement and
        at law
        or equity or to damages, including injunctive relief and specific performance,
        upon notice immediately terminate all of the rights and obligations of the
        Master Servicer under this Agreement and in and to the Mortgage Loans and
        the
        proceeds thereof without compensating the Master Servicer for the same (but
        subject to the Master Servicer’s right to reimbursement of all amounts for which
        it is entitled to be reimbursed prior to the date of termination). Failure
        of
        the Trustee to comply with this Section 3.15 (including with respect to the
        timeframes required in this Section) which failure results in a failure to
        timely file the related Form 10-K, shall constitute a default and the Depositor
        shall, in addition to whatever rights the Depositor may have under this
        Agreement and at law or equity or to damages, including injunctive relief
        and
        specific performance, upon notice immediately terminate all of the rights
        and
        obligations of the Trustee under this Agreement and in and to the Mortgage
        Loans
        and the proceeds thereof without compensating the Trustee for the same (but
        subject to the Trustee’s right to reimbursement of all amounts for which it is
        entitled to be reimbursed prior to the date of termination). This paragraph
        shall supersede any other provision in this Agreement or any other agreement
        to
        the contrary.

       

      Section
        3.16  Reports
        Filed with Securities and Exchange Commission. 

       

      (a)  (i)
        (A)
        Within
        15 days after each Distribution Date, the Trustee shall, in accordance with
        industry standards, prepare and file with the Commission via the Electronic
        Data
        Gathering and Retrieval System (“EDGAR”), a Distribution Report on Form 10-D,
        signed by the Master Servicer, with a copy of the Monthly Statement to be
        furnished by the Trustee to the Certificateholders for such Distribution
        Date;
        provided that, the Trustee shall have received no later than five (5) calendar
        days after the related Distribution Date, all information required to be
        provided to the Trustee as described in clause (a)(iv) below. Any disclosure
        that is in addition to the Monthly Statement and that is required to be included
        on Form 10-D (“Additional Form 10-D Disclosure”) shall
        be,
        pursuant to the paragraph immediately below, reported by the parties set
        forth
        on Exhibit O to the Trustee and the Depositor and approved for inclusion
        by the
        Depositor, and the Trustee will have no duty or liability for any failure
        hereunder to determine or prepare any Additional Form 10-D Disclosure absent
        such reporting (other than with respect to when it is the reporting party
        as set
        forth in Exhibit O) and approval.

       

      (B)  Within
        five (5) calendar days after the related Distribution Date, (i) the parties
        set
        forth in Exhibit O shall be required to provide, pursuant to Section 3.16(a)(iv)
        below, to the Trustee and the Depositor, to the extent known by a responsible
        officer thereof, in EDGAR-compatible format, or in such other form as otherwise
        agreed upon by the Trustee and the Depositor and such party, the form and
        substance of any Additional Form 10-D Disclosure, if applicable, 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
        Depositor shall be responsible for any reasonable fees and expenses assessed
        or
        incurred by the Trustee in connection with including any Additional Form
        10-D
        Disclosure on Form 10-D pursuant to this Section.

       

      (C)  After
        preparing the Form 10-D, the Trustee shall forward electronically a copy
        of the
        Form 10-D to the Depositor (in the case of any Additional 10-D Disclosure
        and
        otherwise if requested by the Depositor) and the Master Servicer for review.
        Within
        two Business Days after receipt of such copy, but no later than the 12th
        calendar day after the Distribution Date (provided that, the Trustee forwards
        a
        copy of the Form 10-D no later than the 10th
        calendar
        after the Distribution Date), the Depositor shall notify the Trustee in writing
        (which may be furnished electronically) of any changes to or approval of
        such
        Form 10-D. In the absence of receipt of any written changes or approval,
        the
        Trustee shall be entitled to assume that such Form 10-D is in final form
        and the
        Trustee may proceed with the execution and filing of the Form 10-D. No later
        than the 13th calendar day after the related Distribution Date, a duly
        authorized officer of the Master Servicer shall sign the Form 10-D and return
        an
        electronic or fax copy of such signed Form 10-D (with an original executed
        hard
        copy to follow by overnight mail) to the Trustee. If a Form 10-D cannot be
        filed
        on time or if a previously filed Form 10-D needs to be amended, the Trustee
        shall follow the procedures set forth in Section 3.16(a)(v)(B). Promptly
        (but no
        later than one (1) Business Day) after filing with the Commission, the Trustee
        shall make available on its internet website identified in Section 6.06 a
        final
        executed copy of each Form 10-D filed by the Trustee. The signing party at
        the
        Master Servicer can be contacted as set forth in Section 12.05. 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 shall notify the
        Trustee
        in writing, no later than the fifth calendar day after the related Distribution
        Date with respect to the filing of a report on Form 10-D if the answer to
        the
        questions should be “no”. The Trustee shall be entitled to rely on the
        representations in Section 2.04(vi) and in any such notice in preparing,
        executing and/or filing any such report. The parties to this Agreement
        acknowledge that the performance by the Trustee of its duties under Sections
        3.16(a)(i) and (v) 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 such Sections. Neither
        the
        Master Servicer nor the Trustee 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
        a
        party’s failure to deliver, on a timely basis, any information from such party
        needed to prepare, arrange for execution or file such Form 10-D, not resulting
        from its own negligence, bad faith or willful misconduct. 

       

      (ii)  (A)
        Within four (4) Business Days after the occurrence of an event requiring
        disclosure on Form 8-K (each such event, a “Reportable Event”), the Trustee
        shall prepare and file, at the direction of the Depositor, on behalf of the
        Trust, any 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 on Form 8-K (“Form 8-K Disclosure
        Information”) shall be, pursuant to the paragraph immediately below, reported by
        the parties set forth on Exhibit O to the Trustee and the Depositor and approved
        for inclusion by the Depositor, and the Trustee will have no duty or liability
        for any failure hereunder to determine or prepare any Form 8-K Disclosure
        Information absent such reporting (other than in the case where the Trustee
        is
        the reporting party as set forth in Exhibit O) and approval.

       

      (B)  For
        so
        long as the Trust is subject to the Exchange Act reporting requirements,
        no
        later than the close of business on the 2nd Business Day after the occurrence
        of
        a Reportable Event (i) the parties set forth in Exhibit O shall be required
        pursuant to Section 3.16(a)(iv) below to provide to the Trustee and the
        Depositor, to the extent known by a responsible officer thereof, in
        EDGAR-compatible format, or in such other form as otherwise agreed upon by
        the
        Trustee and the Depositor and such party, the form and substance of any Form
        8-K
        Disclosure Information, if applicable, and (ii) the Depositor shall approve,
        as
        to form and substance, or disapprove, as the case may be, the inclusion of
        the
        Form 8-K Disclosure Information on Form 8-K. The Depositor shall be responsible
        for any reasonable fees and expenses assessed or incurred by the Trustee
        in
        connection with including any Form 8-K Disclosure Information on Form 8-K
        pursuant to this Section. 

       

      (C)  After
        preparing the Form 8-K, the Trustee shall forward electronically a copy of
        the
        Form 8-K to the Depositor and the Master Servicer for review. No later than
        the
        close of business New York City time on the 3rd
        Business
        Day after the Reportable Event, a duly authorized officer of the Master Servicer
        shall sign the Form 8-K and return an electronic or fax copy of such signed
        Form
        8-K (with an original executed hard copy to follow by overnight mail) to
        the
        Trustee. Promptly, but no later than the close of business on the 3rd Business
        Day after the Reportable Event (provided that, the Trustee forwards a copy
        of
        the Form 8-K no later than noon New York time on the third Business Day after
        the Reportable Event), the Depositor shall notify the Trustee in writing
        (which
        may be furnished electronically) of any changes to or approval of such Form
        8-K.
        In the absence of receipt of any written changes or approval, the Trustee
        shall
        be entitled to assume that such Form 8-K is in final form and the Trustee
        may
        proceed with the execution and filing of the Form 8-K. If a Form 8-K cannot
        be
        filed on time or if a previously filed Form 8-K needs to be amended, the
        Trustee
        shall follow the procedures set forth in Section 3.16(a)(v)(B). Promptly
        (but no
        later than one (1) Business Day) after filing with the Commission, the Trustee
        shall, make available on its internet website a final executed copy of each
        Form
        8-K filed by the Trustee. The signing party at the Master Servicer can be
        contacted as set forth in Section 12.05. The parties to this Agreement
        acknowledge that the performance by Master Servicer and the Trustee of their
        respective duties under this Section 3.16(a)(ii) 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 3.16(a)(ii). Neither the Master Servicer nor the Trustee
        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 a party’s failure to deliver, on a
        timely basis, any information from such party needed to prepare, arrange
        for
        execution or file such Form 8-K, not resulting from its own negligence, bad
        faith or willful misconduct.

       

      (iii)  (A)
        Within 90 days after the end of each fiscal year of the Trust 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 ends on December 31st
        of
        each year), commencing in March 2007, the Trustee shall prepare and file
        on
        behalf of the Trust a Form 10-K, in form and substance as required by the
        Exchange Act. Each such Form 10-K shall include the following items, in each
        case to the extent they have been delivered to the Trustee within the applicable
        time frames set forth in this Agreement, (I) an annual compliance statement
        for
the
        Master
        Servicer and any subservicer or subcontractor, as applicable, as described
        under
        Section 3.14, (II)(A) the annual reports on assessment of compliance with
        Servicing Criteria for the Master Servicer, each subservicer and subcontractor
        participating in the servicing function, the Trustee and the Custodian, as
        described under Section 3.15, and (B) if any such report on assessment of
        compliance with Servicing Criteria described under Section 3.15 identifies
        any
        material instance of noncompliance, disclosure identifying such instance
        of
        noncompliance, or if any such report on assessment of compliance with Servicing
        Criteria described under Section 3.15 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 the Master Servicer, the Trustee, each subservicer,
        each
        subcontractor, as applicable, and the Custodian, as described under Section
        3.15, and (B) if any registered public accounting firm attestation report
        described under Section 3.15 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 3.16(a)(iii)(D) below (provided, however, that the Trustee,
        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, pursuant to the paragraph
        immediately below, reported by the parties set forth on Exhibit O to the
        Trustee
        and the Depositor and approved for inclusion by the Depositor, and the Trustee
        will have no duty or liability for any failure hereunder to determine or
        prepare
        any Additional Form 10-K Disclosure absent such reporting (other than in
        the
        case where the Trustee is the reporting party as set forth in Exhibit O)
        and
        approval.

       

      (B)  No
        later
        than March 15th
        of each
        year that the Trust is subject to the Exchange Act reporting requirements,
        commencing in 2007, (i) the parties set forth in Exhibit O shall be required
        to
        provide pursuant to Section 3.16(a)(iv) below to the Trustee and the Depositor,
        to the extent known by a responsible officer thereof, in EDGAR-compatible
        format, or in such other form as otherwise agreed upon by the Trustee and
        the
        Depositor and such party, the form and substance of any Additional Form 10-K
        Disclosure, if applicable, 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 Depositor shall be responsible for
        any
        reasonable fees and expenses assessed or incurred by the Trustee in connection
        with including any Additional Form 10-K Disclosure on Form 10-K pursuant
        to this
        Section.

       

      (C)  After
        preparing the Form 10-K, the Trustee shall forward electronically a copy
        of the
        Form 10-K to the Depositor (only in the case where such Form 10-K includes
        Additional Form 10-K Disclosure and otherwise if requested by the Depositor)
        and
        the Master Servicer for review. Within three Business Days after receipt
        of such
        copy, but no later than March 25th
        (provided that, the Trustee forwards a copy of the Form 10-K no later than
        the
        third Business Day prior to March 25th), the Depositor shall notify the Trustee
        in writing (which may be furnished electronically) of any changes to or approval
        of such Form 10-K. In the absence of receipt of any written changes or approval,
        the Trustee shall be entitled to assume that such Form 10-K is in final form
        and
        the Trustee may proceed with the execution and filing of the Form 10-K. No
        later
        than the close of business Eastern Standard time on the 4th Business Day
        prior
        to the 10-K Filing Deadline, an officer of the Master Servicer in charge
        of the
        master servicing function shall sign the Form 10-K and return an electronic
        or
        fax copy of such signed Form 10-K (with an original executed hard copy to
        follow
        by overnight mail) to the Trustee. If a Form 10-K cannot be filed on time
        or if
        a previously filed Form 10-K needs to be amended, the Trustee will follow
        the
        procedures set forth in Section 3.16(a)(v)(B). Promptly (but no later than
        one
        (1) Business Day) after filing with the Commission, the Trustee shall make
        available on its internet website a final executed copy of each Form 10-K
        filed
        by the Trustee. The signing party at the Master Servicer can be contacted
        as set
        forth in Section 12.05. 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 shall notify the Trustee in writing, no later than March 15th after
        the related Distribution Date with respect to the filing of a report on Form
        10-K, if the answer to the questions should be “no”. The Trustee shall be
        entitled to rely on the representations in Section 2.04(vi) and in any such
        notice in preparing, executing and/or filing any such report. The parties
        to
        this Agreement acknowledge that the performance by the Trustee of its duties
        under Sections 3.16(a)(iv) and (v) related to the timely preparation, execution
        and filing of Form 10-K is contingent upon such parties strictly observing
        all
        applicable deadlines in the performance of their duties under such Sections
        and
        Sections 3.14 and Section 3.15. The Trustee shall not have any liability
        for any
        loss, expense, damage, claim arising out of or with respect to any failure
        to
        properly prepare, execute and/or timely file such Form 10-K, where such failure
        results from the Trustee’s inability or failure to receive, on a timely basis,
        any information from any other party hereto needed to prepare, arrange for
        execution or file such Form 10-K, not resulting from its own negligence,
        bad
        faith or willful misconduct. 

       

      (D)  Each
        Form
        10-K shall include a certification (the “Sarbanes-Oxley Certification”) required
        to be included therewith pursuant to the Sarbanes-Oxley Act which shall be
        signed by the Certifying Person and delivered to the Trustee no later than
        March
        15th
        of each
        year in which the Trust is subject to the reporting requirements of the Exchange
        Act. The Master Servicer shall cause any subservicer or subcontractor engaged
        by
        it to, provide to the Person who signs the Sarbanes-Oxley Certification (the
        “Certifying Person”), by March 10th of each year in which the Trust is subject
        to the reporting requirements of the Exchange Act and otherwise within a
        reasonable period of time upon request, a certification (each, a “Back-Up
        Certification”), in the form attached hereto as Exhibit K, 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. An 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 as set forth in Section 12.05. In connection with
        the
        filing of any 10-K hereunder, the Trustee shall sign a Back-Up Certification
        substantially in the form attached hereto as Exhibit M for the Depositor
        regarding certain aspects of the Form 10-K certification signed by the Master
        Servicer; provided, however, the Trustee shall not be required to undertake
        an
        analysis of any accountant’s report as an exhibit to the Form 10-K.

       

      (iv)  With
        respect to any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure
        or any Form 8-K Disclosure Information (collectively, the “Additional
        Disclosure”) relating to the Trust Fund, the Trustee’s obligation to include
        such Additional Information in the applicable Exchange Act report is subject
        to
        receipt from the entity that is indicated in Exhibit O as the responsible
        party
        for providing that information, if other than the Trustee, as and when required
        as described in Section 3.16(a)(i) through (iii) above. Such Additional
        Disclosure shall be accompanied by a notice substantially in the form of
        Exhibit
        P. Each of the Master Servicer, the Seller and the Depositor hereby agrees
        to
        notify and provide to the extent known to the Master Servicer, the Seller
        and
        the Depositor all Additional Disclosure relating to the Trust Fund, with
        respect
        to which such party is indicated in Exhibit O as the responsible party for
        providing that information. The Depositor shall be responsible for any
        reasonable fees and expenses assessed or incurred by the Trustee in connection
        with including any Additional Disclosure information pursuant to this
        Section.

       

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

       

      (B)  In
        the
        event that the Trustee is unable to timely file with the Commission all or
        any
        required portion of any Form 8-K, 10-D or 10-K required to be filed by this
        Agreement because required disclosure information was either not delivered
        to it
        or delivered to it after the delivery deadlines set forth in this Agreement
        or
        for any other reason, the Trustee shall promptly notify the Depositor and
        the
        Master Servicer. In the case of Form 10-D and 10-K, the Depositor, the Master
        Servicer and the Trustee shall cooperate to prepare and file a Form 12b-25
        and a
        10-DA and 10-KA as applicable, pursuant to Rule 12b-25 of the Exchange Act.
        In
        the case of Form 8-K, the Trustee 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, and such amendment
        relates to any Additional Disclosure, the Trustee shall notify the Depositor
        and
        the parties affected thereby and such parties will cooperate to prepare any
        necessary Form 8-K, 10-DA or 10-KA. Any Form 15, Form 12b-25 or any amendment
        to
        Form 8-K, 10-D or 10-K shall be signed by an appropriate officer of the Master
        Servicer. The parties hereto acknowledge that the performance by the Trustee
        of
        its respective duties under this Section 3.16(a)(v) 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 the Master Servicer and the Depositor
        timely performing their duties under this Section. The Trustee shall not
        have
        any liability for any loss, expense, damage, claim arising out of or with
        respect to any failure to properly prepare, execute and/or timely file any
        such
        Form 15, Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K, where such
        failure results from a party’s failure to deliver, on a timely basis, any
        information from such party needed to prepare, arrange for execution or file
        such Form 15, Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K, not
        resulting from its own negligence, bad faith or willful misconduct.

       

      The
        Depositor agrees to promptly furnish to the Trustee, from time to time upon
        request, such further information, reports and financial statements within
        its
        control related to this Agreement, the Mortgage Loans as the Trustee reasonably
        deems appropriate to prepare and file all necessary reports with the Commission.
        The Trustee shall have no responsibility to file any items other than those
        specified in this Section 3.16; provided, however, the Trustee shall cooperate
        with the Depositor in connection with any additional filings with respect
        to the
        Trust Fund as the Depositor deems necessary under the Exchange Act. Fees
        and
        expenses incurred by the Trustee in connection with this Section 3.16 shall
        not
        be reimbursable from the Trust Fund. 

       

      (b)  The
        Depositor shall indemnify and hold harmless the Trustee and the Master Servicer
        and each of its officers, directors and affiliates from and against any losses,
        damages, penalties, fines, forfeitures, reasonable and necessary legal fees
        and
        related costs, judgments and other costs and expenses arising out of or based
        upon a breach of the obligations of the Depositor under Sections 3.14,
        3.15 and 3.16 or
        the
        Depositor’s negligence, bad faith or willful misconduct in connection therewith.
        In addition, the Depositor shall indemnify and hold harmless the Master
        Servicer, the Trustee and each of their respective officers, directors and
        affiliates from and against any losses, damages, penalties, fines, forfeitures,
        reasonable and necessary legal fees and related costs, judgments and other
        costs
        and expenses arising out of or based upon (i) any untrue statement or alleged
        untrue statement of any material fact contained in any Additional Disclosure
        provided by the Depositor that is required to be filed pursuant to this Section
        3.16 (the
        “Depositor Information”),
        or
(ii)
        any omission or alleged omission to state therein a material fact required
        to be
        stated therein or necessary to make the statements therein, in light of the
        circumstances in which they were made, not misleading; provided, by way of
        clarification, that this paragraph shall be construed solely by reference
        to the
        Depositor Information that is required to be filed and not to any other
        information communicated in connection with the Certificates, without regard
        to
        whether the Depositor Information or any portion thereof is presented together
        with or separately from such other information.

       

      The
        Master Servicer shall indemnify and hold harmless the Trustee and the Depositor
        and each of its respective officers, directors and affiliates from and against
        any losses, damages, penalties, fines, forfeitures, reasonable and necessary
        legal fees and related costs, judgments and other costs and expenses arising
        out
        of or based upon a breach of the obligations of the Master Servicer under
        Sections 3.14, 3.15 and 3.16 or the Master Servicer’s negligence, bad faith or
        willful misconduct in connection therewith. In addition, the Master Servicer
        shall indemnify and hold harmless the Depositor and each of its officers,
        directors and affiliates from and against any losses, damages, penalties,
        fines,
        forfeitures, reasonable and necessary legal fees and related costs, judgments
        and other costs and expenses arising out of or based upon (i) any untrue
        statement or alleged untrue statement of any material fact contained in any
        Annual Statement of Compliance, any Assessment of Compliance or any Additional
        Disclosure provided by the Master Servicer on its behalf or on behalf of
        any
        subservicer or subcontractor engaged by the Master Servicer pursuant to Section
        3.14, 3.15 or 3.16 (the
        “Master Servicer Information”), or (ii) any omission or alleged omission to
        state therein a material fact required to be stated therein or necessary
        to make
        the statements therein, in light of the circumstances in which they were
        made,
        not misleading; provided, by way of clarification, that this paragraph shall
        be
        construed solely by reference to the Master Servicer Information and not
        to any
        other information communicated in connection with the Certificates, without
        regard to whether the Master Servicer Information or any portion thereof
        is
        presented together with or separately from such other information.

       

      If
        the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless the Depositor, the Trustee or the Master Servicer, as applicable,
        then
        the defaulting party, in connection with any conduct for which it is providing
        indemnification under this Section 3.16(b), agrees that it shall contribute
        to
        the amount paid or payable by the other parties as a result of the losses,
        claims, damages or liabilities of the other party in such proportion as is
        appropriate to reflect the relative fault and the relative benefit of the
        respective parties. 

       

      The
        indemnification provisions set forth in this Section 3.16(b) shall survive
        the
        termination of this Agreement or the termination of any party to this
        Agreement.

       

      (c)  Failure
        of the Master Servicer to comply with this Section 3.16 (including with respect
        to the timeframes required herein) shall, constitute an Event of Default,
        and at
        the written direction of the Depositor the Trustee shall, in addition to
        whatever rights the Trustee may have under this Agreement and at law or equity
        or to damages, including injunctive relief and specific performance, upon
        notice
        immediately terminate all of the rights and obligations of the Master Servicer
        under this Agreement and in and to the Mortgage Loans and the proceeds thereof
        without compensating the Master Servicer for the same (but subject to the
        Master
        Servicer’s right to reimbursement of all amounts for which it is entitled to be
        reimbursed prior to the date of termination). This paragraph shall supersede
        any
        other provision in this Agreement or any other agreement to the contrary.
        In
        connection with the termination of the Master Servicer pursuant to this Section
        3.16(d), the Trustee shall be entitled to reimbursement of all costs and
        expenses associated with such termination to the extent set forth in Section
        10.05. Notwithstanding anything to the contrary in this Agreement, no Event
        of
        Default by the Master Servicer shall have occurred with respect to any failure
        to properly prepare, execute and/or timely file any report on Form 8-K, Form
        10-D or Form 10-K, any Form 15 or Form 12b-25 or any amendments to Form 8-K,
        10-D or 10-K, where such failure results from any party’s failure to deliver, on
        a timely basis, any information from such party needed to prepare, arrange
        for
        execution or file any such report, Form or amendment, and does not result
        from
        its own negligence, bad faith or willful misconduct.

       

      (d)  Notwithstanding
        the provisions of Section 12.01, this Section 3.16 may be amended without
        the
        consent of the Certificateholders.

       

      (e)  Any
        report, notice or notification to be delivered by the Master Servicer or
        the
        Trustee to the Depositor pursuant to this Section 3.16, may be delivered
        via
        email to or,
        in
        the case of a notification, telephonically by calling Reg AB Compliance Manager
        at 212-272-7525. 

       

      Section
        3.17  Intention
        of the Parties and Interpretation. 

       

      Each
        of
        the parties acknowledges and agrees that the purpose of Sections 3.14, 3.15
        and
        3.16 of this Agreement is to facilitate compliance by the Seller, the Depositor
        and the Master Servicer with the provisions of Regulation AB. 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 reasonable requests made by the Seller,
        the
        Depositor, the Master Servicer or the Trustee for delivery of additional
        or
        different information as the Seller, the Depositor, the Master Servicer or
        the
        Trustee 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 obligations of the parties to this transaction
        as
        are necessary to accommodate evolving interpretations of the provisions of
        Regulation AB.

       

      Section
        3.18  UCC. 

       

      The
        Seller shall file any financing statements, continuation statements or
        amendments thereto required by any change in the Uniform Commercial
        Code.

       

      Section
        3.19  Optional
        Purchase of Certain Mortgage Loans. 

       

      With
        respect to any Mortgage Loan which as of the first day of a Fiscal Quarter
        is
        delinquent in payment by 90 days or more or is an REO Property, the Seller
        shall
        have the right to purchase any such Mortgage Loan or REO Property from the
        Trust
        at a price equal to the Purchase Price; provided however (i) that such Mortgage
        Loan is still 90 days or more delinquent or is an REO Property as of the
        date of
        such purchase and (ii) this purchase option, if not theretofore exercised,
        shall
        terminate on the date prior to the last day of the related Fiscal Quarter.
        This
        purchase option, if not exercised, shall not be thereafter reinstated unless
        the
        delinquency is cured and the Mortgage Loan thereafter again becomes 90 days
        or
        more delinquent or becomes an REO Property, in which case the option shall
        again
        become exercisable as of the first day of the related Fiscal
        Quarter.

       

      In
        addition, EMC shall, at its option, purchase any Mortgage Loan from the Trust
        if
        the first Due Date for such Mortgage Loan is subsequent to the Cut-off Date
        and
        the initial Monthly Payment is not made within thirty (30) days of such Due
        Date. Such purchase shall be made at a price equal to the Repurchase Price.
        

       

      If
        at any time EMC remits to the Trustee a payment for deposit in the Distribution
        Account covering the amount of the Repurchase Price for such a Mortgage Loan,
        and EMC provides to the Trustee a certification signed by a Servicing Officer
        stating that the amount of such payment has been deposited in the Distribution
        Account, then the Trustee shall execute the assignment of such Mortgage Loan
        prepared and delivered to the Trustee, at the request of EMC, without recourse,
        representation or warranty, to EMC which shall succeed to all the Trustee’s
        right, title and interest in and to such Mortgage Loan, and all security
        and
        documents relative thereto. Such assignment shall be an assignment outright
        and
        not for security. EMC will thereupon own such Mortgage, and all such security
        and documents, free of any further obligation to the Trustee or the
        Certificateholders with respect thereto.

       

      Section
        3.20  REMIC-Related
        Covenants. 

       

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

       

      Section
        3.21  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 Mortgage
        Insurance Policies, 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. 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
        Mortgage 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.

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      ARTICLE
        IV

      
 

      [RESERVED]

       

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      ARTICLE
        V

      
 

      ACCOUNTS

       

      Section
        5.01  Collection
        of Mortgage Loan Payments; Protected Account. 

       

      (a)  The
        Master Servicer shall make reasonable efforts in accordance with customary
        and
        usual standards of practice of prudent mortgage lenders in the respective
        states
        in which the Mortgaged Properties are located to collect all payments called
        for
        under the terms and provisions of the Mortgage Loans to the extent such
        procedures shall be consistent with this Agreement and the terms and provisions
        of any related Required Insurance Policy. Consistent with the foregoing,
        the
        Master Servicer may in its discretion (i) waive any late payment charge and
        (ii)
        extend the due dates for payments due on a Mortgage Note for a period not
        greater than 125 days. In the event of any such arrangement, the Master Servicer
        shall make Advances on the related Mortgage Loan during the scheduled period
        in
        accordance with the amortization schedule of such Mortgage Loan without
        modification thereof by reason of such arrangements, and shall be entitled
        to
        reimbursement therefor in accordance with Section 6.01. The Master Servicer
        shall not be required to institute or join in litigation with respect to
        collection of any payment (whether under a Mortgage, Mortgage Note or otherwise
        or against any public or governmental authority with respect to a taking
        or
        condemnation) if it reasonably believes that enforcing the provision of the
        Mortgage or other instrument pursuant to which such payment is required is
        prohibited by applicable law. In
        addition, if (x) a Mortgage Loan is in default or default is reasonably
        foreseeable, the Master Servicer may also waive, modify or vary any term
        of any
        Mortgage Loan or consent to the postponement of strict compliance with any
        such
        term or in any manner grant indulgence to any mortgagor, including without
        limitation, to (1) capitalize any amounts owing on the Mortgage Loan by adding
        such amount to the outstanding principal balance of the Mortgage Loan, (2)
        defer
        such amounts to a later date or the final payment date of such Mortgage Loan,
        (3) extend the maturity of any such Mortgage Loan, but in no instance past
        the
        date on which the final payment is due on the latest maturing Mortgage Loan
        as
        of the Cut-off Date, and/or (4) reduce the related Mortgage Rate (subject
        to
        clause (y) below), provided that, in the Master Servicer’s determination such
        waiver, modification, postponement or indulgence is not materially adverse
        to
        the interests of the Certificateholders (taking into account any estimated
        Realized Loss that might result absent such action), or (y) the Master Servicer
        delivers to the Trustee a certification addressed to the Trustee, based on
        the
        advice of counsel or certified public accountants, in either case, that have
        a
        national reputation with respect to taxation of REMICs, that a modification
        of
        such Mortgage Loan will not result in the imposition of taxes on or disqualify
        from REMIC status any of REMIC I, REMIC II, REMIC III, REMIC IV or REMIC
        V, the
        Master Servicer may, (A) amend the related Mortgage Note to reduce the Mortgage
        Rate applicable thereto, provided that such reduced Mortgage Rate shall in
        no
        event be lower than 5.00% with respect to any Mortgage Loan and (B) amend
        any
        Mortgage Note to extend the maturity thereof.

       

      In
        accordance with the standards of the first paragraph of Section 3.01, the
        Master
        Servicer shall not waive (or permit a sub-servicer to waive) any Prepayment
        Charge unless: (i) the enforceability thereof shall have been limited by
        bankruptcy, insolvency, moratorium, receivership and other similar laws relating
        to creditors’ rights generally, (ii) the enforcement thereof is illegal, or any
        local, state or federal agency has threatened legal action if the prepayment
        penalty is enforced, (iii) the mortgage debt has been accelerated in connection
        with a foreclosure or other involuntary payment or (iv) such waiver is standard
        and customary in servicing similar Mortgage Loans and relates to a default
        or a
        reasonably foreseeable default and would, in the reasonable judgment of the
        Master Servicer, maximize recovery of total proceeds taking into account
        the
        value of such Prepayment Charge and the related Mortgage Loan. If a Prepayment
        Charge is waived, but does not meet the standards described above, then the
        Master Servicer is required to pay the amount of such waived Prepayment Charge,
        for the benefit of Class P Certificates, by remitting such amount to the
        Trustee
        by the Remittance Date.

       

      (b)  The
        Master Servicer shall establish and maintain a Protected Account (which shall
        at
        all times be an Eligible Account) with a depository institution in the name
        of
        the Master Servicer for the benefit of the Trustee on behalf of the
        Certificateholders and designated “Wells Fargo, National Association, in trust
        for registered holders of Bear Stearns Mortgage Funding Trust 2006-AC1,
        Asset-Backed Certificates, Series 2006-AC1”. The Master Servicer shall deposit
        or cause to be deposited into the Protected Account on a daily basis within
        two
        Business Days of receipt and identification, except as otherwise specifically
        provided herein, the following payments and collections remitted by subservicers
        or received by it in respect of the Mortgage Loans subsequent to the Cut-off
        Date (other than in respect of principal and interest due on the Mortgage
        Loans
        on or before the Cut-off Date) and the following amounts required to be
        deposited hereunder:

       

      (i)  all
        payments on account of principal, including Principal Prepayments, on the
        Mortgage Loans;

       

      (ii)  all
        payments on account of interest on the Mortgage Loans net of the related
        Servicing Fee permitted under Section 3.10 and LPMI Fees, if any;

       

      (iii)  all
        Liquidation Proceeds and Insurance Proceeds, other than proceeds to be applied
        to the restoration or repair of the Mortgaged Property or released to the
        Mortgagor in accordance with the Master Servicer’s normal servicing
        procedures;

       

      (iv)  any
        amount required to be deposited by the Master Servicer pursuant to Section
        5.01(c) in connection with any losses on Permitted Investments;

       

      (v)  any
        amounts required to be deposited by the Master Servicer pursuant to Section
        3.05;

       

      (vi)  any
        Prepayment Charges collected on the Mortgage Loans; and

       

      (vii)  any
        other
        amounts required to be deposited hereunder.

       

      The
        foregoing requirements for remittance by the Master Servicer into the Protected
        Account shall be exclusive, it being understood and agreed that, without
        limiting the generality of the foregoing, payments in the nature of late
        payment
        charges or assumption fees, if collected, need not be remitted by the Master
        Servicer. In the event that the Master Servicer shall remit any amount not
        required to be remitted and not otherwise subject to withdrawal pursuant
        to
        Section 5.02, it may at any time withdraw or direct the institution maintaining
        the Protected Account, to withdraw such amount from the Protected Account,
        any
        provision herein to the contrary notwithstanding. Such withdrawal or direction
        may be accomplished by delivering written notice thereof to the institution
        maintaining the Protected Account, that describes the amounts deposited in
        error
        in the Protected Account. The Master Servicer shall maintain adequate records
        with respect to all withdrawals made pursuant to this Section. Reconciliations
        will be prepared for the Protected Account within 45 calendar days after
        the
        bank statement cut-off date. All items requiring reconciliation will be resolved
        within 90 calendar days of their original identification. All funds deposited
        in
        the Protected Account shall be held in trust for the Certificateholders until
        withdrawn in accordance with Section 5.02.

       

      (c)  The
        institution that maintains the Protected Account shall invest the funds in
        the
        Protected Account, in the manner directed by the Master Servicer, in Permitted
        Investments which shall mature not later than the Remittance Date and shall
        not
        be sold or disposed of prior to its maturity. All such Permitted Investments
        shall be made in the name of the Trustee, for the benefit of the
        Certificateholders. All income and gain net of any losses realized from any
        such
        investment shall be for the benefit of the Master Servicer as servicing
        compensation and shall be remitted to it monthly as provided herein. The
        amount
        of any losses incurred in the Protected Account in respect of any such
        investments shall be deposited by the Master Servicer into the Protected
        Account, out of the Master Servicer’s own funds.

       

      (d)  The
        Master Servicer shall give at least 30 days advance notice to the Trustee,
        the
        Seller, the Master Servicer, each Rating Agency and the Depositor of any
        proposed change of location of the Protected Account prior to any change
        thereof.

       

      Section
        5.02  Permitted
        Withdrawals From the Protected Account. 

       

      (a)  The
        Master Servicer may from time to time make withdrawals from the Protected
        Account for the following purposes:

       

      (i)  to
        pay
        itself (to the extent not previously paid to or withheld by the Master
        Servicer), as servicing compensation in accordance with Section 3.10, that
        portion of any payment of interest that equals the Servicing Fee for the
        period
        with respect to which such interest payment was made, and, as additional
        servicing compensation, those other amounts set forth in Section
        3.10;

       

      (ii)  to
        reimburse the Master Servicer for Advances made by it with respect to the
        Mortgage Loans, provided, however, that the Master Servicer’s right of
        reimbursement pursuant to this subclause (ii) shall be limited to amounts
        received on particular Mortgage Loan(s) (including, for this purpose,
        Liquidation Proceeds and Insurance Proceeds and Subsequent Recoveries) that
        represent late recoveries of payments of principal and/or interest on such
        particular Mortgage Loan(s) in respect of which any such Advance was
        made;

       

      (iii)  to
        reimburse the Master Servicer for any previously made portion of a Servicing
        Advance or an Advance made by the Master Servicer that, in the good faith
        judgment of the Master Servicer, will not be ultimately recoverable by it
        from
        the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds
        or
        otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to
        clause (ii) or clause (v);

       

      (iv)  to
        reimburse the Master Servicer from Insurance Proceeds for Insured Expenses
        covered by the related Insurance Policy;

       

      (v)  to
        pay
        the Master Servicer any unpaid Servicing Fees and to reimburse it for any
        unreimbursed Servicing Advances, provided, however, that the Master Servicer’s
        right to reimbursement for Servicing Advances pursuant to this subclause
        (v)
        with respect to any Mortgage Loan shall be limited to amounts received on
        particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds,
        Insurance Proceeds and purchase and repurchase proceeds) that represent late
        recoveries of the payments for which such Servicing Advances were
        made;

       

      (vi)  to
        pay to
        the Seller, the Depositor or itself, as applicable, with respect to each
        Mortgage Loan or property acquired in respect thereof that has been purchased
        pursuant to Section 2.02, 2.03 or 4.20 of this Agreement, all amounts received
        thereon and not taken into account in determining the related Stated Principal
        Balance of such repurchased Mortgage Loan;

       

      (vii)  to
        pay
        any expenses recoverable by the Master Servicer pursuant to Section 8.04
        of this
        Agreement;

       

      (viii)  to
        withdraw pursuant to Section 5.01 any amount deposited in the Protected Account
        and not required to be deposited therein; and

       

      (ix)  to
        clear
        and terminate the Protected Account upon termination of this Agreement pursuant
        to Section 11.01 hereof.

       

      In
        addition, no later than 1:00 p.m. Eastern time on the Remittance Date, the
        Master Servicer shall withdraw from the Protected Account and remit to the
        Trustee the amount required to be withdrawn therefrom pursuant to Section
        5.08
        hereof. With respect to any remittance received by the Trustee from the Master
        Servicer after the date on which such remittance was due, the Master Servicer
        shall pay to the Trustee interest on any such late remittance at an annual
        rate
        equal to the prime rate announced to be in effect from time to time as published
        as the average rate in The Wall Street Journal (Northeast Edition), plus
        two
        percentage points, but in no event greater than the maximum amount permitted
        by
        applicable law. Such interest shall be deposited in the Protected Account
        by the
        Master Servicer on the date such late payment is made and shall cover the
        period
        commencing with the day following the date on which such remittance was due
        and
        ending with the Business Day on which such remittance is made, both inclusive.
        Such interest shall be remitted along with the distribution payable on the
        next
        succeeding Remittance Date. The payment by the Master
        Servicer
        of any
        such interest shall not be deemed an extension of time for payment or a waiver
        of any Event of Default with respect to the Master Servicer.

       

      The
        Master Servicer shall keep and maintain separate accounting, on a Mortgage
        Loan
        by Mortgage Loan basis, for the purpose of justifying any withdrawal from
        the
        Protected Account pursuant to subclauses (i), (ii), (iv), (v) and (vi) above.
        Prior to making any withdrawal from the Protected Account pursuant to subclause
        (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate
        of a Servicing Officer indicating the amount of any previous Advance or
        Servicing Advance determined by the Master Servicer to be a Nonrecoverable
        Advance and identifying the related Mortgage Loan(s), and their respective
        portions of such Nonrecoverable Advance.

       

      Section 5.03  Statements
        to the Trustee.

      
         

        The
          Master Servicer shall furnish to the Trustee an individual Mortgage Loan
          accounting report (a "Report"), as of the last Business Day of each month,
          in
          the Master Servicer's assigned loan number order to document Mortgage Loan
          payment activity on an individual Mortgage Loan basis. With respect to
          each
          month, such Report shall be received by the Trustee no later than the 10th
          calendar day of the month of the related Distribution Date (or August 10,
          2006,
          in the case of the initial Report) a report in an Excel (or compatible)
          electronic format (that can be downloaded into a Sybase database), in such
          format as may be mutually agreed upon by both the Trustee and the Master
          Servicer, and in hard copy, which Report shall contain the
          following:

         

        (i)  with
          respect to each Monthly Payment received or advanced during the related
          Due
          Period, the amount of such remittance allocable to interest and to principal;
          the amount of Principal Prepayments and prepayment penalties received during
          the
          related Prepayment Period;

         

        (ii)  the
          amount of servicing compensation received by the Master Servicer during
          the
          prior Due Period;

         

        (iii)  the
          aggregate Stated Principal Balance of the Mortgage Loans;

         

        (iv)  the
          number and aggregate outstanding principal balances of Mortgage Loans (a)
          Delinquent (1) 30 to 59 days, (2) 60 to 89 days, (3) 90 days or more; (b)
          as to
          which foreclosure has commenced; and (c) as to which REO Property has been
          acquired; and

         

        (v)  such
          other data as may reasonably be required by the Trustee in order to make
          distributions to the Certificateholders on such Distribution Date.

         

        The
          Master Servicer shall also provide with each such Report a trial balance,
          sorted
          in the Trustee's assigned loan number order, and such other loan level
          information as described on Exhibits Q and R, in electronic tape
          form.

         

        The
          Master Servicer shall prepare and file any and all information statements
          or
          other filings required to be delivered to any governmental taxing authority
          or
          to the Trustee pursuant to any applicable law with respect to the Mortgage
          Loans
          and the transactions contemplated hereby. In addition, the Master Servicer
          shall
          provide the Trustee with such information concerning the Mortgage Loans
          as is
          necessary for the Trustee to prepare the Trust’s income tax returns as the
          Trustee may reasonably request from time to time.

         

      

      Section
        5.04  Collection
        of Taxes; Assessments and Similar Items; Escrow Accounts. 

       

      With
        respect to each Mortgage Loan, to the extent required by the related Mortgage
        Note, the Master Servicer shall establish and maintain one or more accounts
        (each, an “Escrow Account”) and deposit and retain therein all collections from
        the Mortgagors (or advances by the Master Servicer) for the payment of taxes,
        assessments, hazard insurance premiums or comparable items for the account
        of
        the Mortgagors. Nothing herein shall require the Master Servicer to compel
        a
        Mortgagor to establish an Escrow Account in violation of applicable
        law.

       

      Withdrawals
        of amounts so collected from the Escrow Accounts may be made only to effect
        timely payment of taxes, assessments, hazard insurance premiums, condominium
        or
        PUD association dues, or comparable items, to reimburse the Master
        Servicer
        out of related collections for any payments made with respect to each Mortgage
        Loan pursuant to Section 3.01 (with respect to taxes and assessments and
        insurance premiums) and Section 3.05 (with respect to hazard insurance),
        to
        refund to any Mortgagors for any Mortgage Loans any sums as may be determined
        to
        be overages, to pay interest, if required by law or the terms of the related
        Mortgage or Mortgage Note, to such Mortgagors on balances in the Escrow Account
        or to clear and terminate the Escrow Account at the termination of this
        Agreement in accordance with Section 11.01 thereof. The Escrow Account shall
        not
        be a part of the Trust Fund.

       

      Section
        5.05   [Reserved]. 

       

      Section
        5.06  [Reserved]. 

       

      Section
        5.07  [Reserved].

       

      Section
        5.08  Distribution
        Account. 

       

      (a)  The
        Trustee shall establish and maintain in the name of the Trustee, for the
        benefit
        of the Certificateholders, the Distribution Account as a segregated trust
        account or accounts. The Distribution Account shall be an Eligible Account.
        On
        or before each Remittance Date, the Master Servicer shall withdraw or shall
        cause to be withdrawn from the Protected Account and shall immediately deposit
        or remit to the Trustee for deposit in the Distribution Account the following
        amounts (other than with respect to principal of or interest on the Mortgage
        Loans due on or before the Cut-off Date):

       

      (i)  Scheduled
        Payments on the Mortgage Loans received or any related portion thereof advanced
        by the Master Servicer pursuant to this Agreement which were due on or before
        the related Due Date, net of the amount thereof comprising the Servicing
        Fee;

       

      (ii)  Full
        Principal Prepayments and any Liquidation Proceeds received by the Master
        Servicer with respect to such Mortgage Loans in the related Prepayment Period
        and any Liquidation Proceeds received by the Master Servicer with respect
        to
        such Mortgage Loans during the related calendar month, with interest to the
        date
        of prepayment or liquidation, net of the amount thereof comprising the Servicing
        Fee and LPMI Fees, if any;

       

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

       

      (iv)  the
        amount of any Prepayment Charges collected with respect to the Mortgage Loans
        and the amount of any Prepayment Charges paid by the Master Servicer in
        connection with the waiver of a Prepayment Charge in a manner that is not
        permitted under this Agreement;

       

      (v)  any
        Advance and any Compensating Interest Payments;

       

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

       

      (vii)  the
        Repurchase Price with respect to any Mortgage Loans purchased by the Seller
        or
        Section 2.02 or 2.03, any amounts which are to be treated pursuant to Section
        5.09 of this Agreement as the payment of such a Repurchase Price, the Repurchase
        Price with respect to any Mortgage Loans purchased by EMC pursuant to Section
        3.19, and all proceeds of any Mortgage Loans or property acquired with respect
        thereto repurchased by the Seller or its designee pursuant to Section
        11.01;

       

      (viii)  any
        amounts required to be deposited with respect to losses on investments of
        deposits in an Account; and

       

      (ix)  any
        other
        amounts received by or on behalf of the Master Servicer 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 Trustee
        in
        the name of the Trustee in trust for the benefit of the Certificateholders
        in
        accordance with the terms and provisions of this Agreement. The requirements
        for
        crediting the Distribution Account shall be exclusive, it being understood
        and
        agreed that, without limiting the generality of the foregoing, payments in
        the
        nature of late payment charges or assumption, tax service, statement account
        or
        payoff, substitution, satisfaction, release and other like fees and charges,
        need not be credited by the Master Servicer to the Distribution Account.
        In the
        event that the Trustee shall deposit or cause to be deposited to the
        Distribution Account any amount not required to be credited thereto, the
        Trustee, upon receipt of a written request therefor signed by a Servicing
        Officer of the Master Servicer, shall promptly transfer such amount to the
        Trustee, any provision herein to the contrary notwithstanding.

       

      (c)  The
        Distribution Account shall constitute a trust account of the Trust Fund
        segregated on the books of the Trustee and held by the Trustee and the
        Distribution Account and the funds deposited therein shall not be subject
        to,
        and shall be protected from, all claims, liens, and encumbrances of any
        creditors or depositors of the Trustee (whether made directly, or indirectly
        through a liquidator or receiver of the Trustee. The amount at any time credited
        to the Distribution Account may be either uninvested in a trust or deposit
        account of the Trustee with no liability for interest or other compensation
        thereofor invested in the name of the Trustee, in such Permitted Investments
        as
        may be selected by the Trustee on such direction which mature not later than
        the
        Business Day next preceding the succeeding Distribution Date, except if such
        Permitted Investment is an obligation of or is managed by the institution
        that
        maintains such fund or account, then such Permitted Investment shall mature
        not
        later than such Distribution Date. Permitted Investments in respect of the
        Distribution Account shall not be sold or disposed of prior to their maturity.
        All investment earnings on amounts on deposit in the Distribution Account
        or
        benefit from funds uninvested therein from time to time shall be for the
        account
        of the Trustee. The Trustee shall be permitted to receive distribution of
        any
        and all investment earnings from the Distribution Account on each Distribution
        Date. If there is any loss on a Permitted Investment or demand deposit, the
        Trustee shall deposit the amount of the loss in the Distribution Account.
        With
        respect to the Distribution Account and the funds deposited therein, the
        Trustee
        shall take such action as may be necessary to ensure that the Certificateholders
        shall be entitled to the priorities afforded to such a trust account (in
        addition to a claim against the estate of the Trustee) as provided by 12
        U.S.C.
§ 92a(e), and applicable regulations pursuant thereto, if applicable, or any
        applicable comparable state statute applicable to state chartered banking
        corporations.

       

      Section
        5.09  Permitted
        Withdrawals and Transfers from the Distribution Account. 

       

      (a)  The
        Trustee will make such withdrawals or transfers from the Distribution Account
        for the following purposes: 

       

      (i)  to
        pay
        itself the Trustee Fee; 

       

      (ii)  to
        reimburse the Trustee; 

       

      (iii)  to
        pay
        investment income to the Trustee; 

       

      (iv)  to
        reimburse the Trustee or the Custodian for expenses, costs and liabilities
        incurred by or reimbursable to it pursuant to this Agreement;

       

      (v)  to
        remove
        amounts deposited in error; and

       

      (vi)  to
        clear
        and terminate the Distribution Account pursuant to Section 11.01.

       

      (b)  On
        each
        Distribution Date, the Trustee shall distribute the Interest Funds and Principal
        Funds to the extent of funds on deposit in the Distribution Account to the
        Holders of the Certificates in accordance with the Remittance Report upon
        which
        the Trustee may conclusively rely.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        VI

      
 

      DISTRIBUTIONS
        AND ADVANCES

       

      Section
        6.01  Advances. 

       

      The
        Master Servicer shall make an Advance with respect to a Mortgage Loan and
        remit
        such Advance to the Trustee for deposit in the Distribution Account no later
        than 1:00 p.m. Eastern time on the Remittance Date in immediately available
        funds. The Master Servicer shall be obligated to make any such Advance only
        to
        the extent that such advance would not be a Nonrecoverable Advance. If the
        Master Servicer shall have determined that it has made a Nonrecoverable Advance
        or that a proposed Advance or a lesser portion of such Advance would constitute
        a Nonrecoverable Advance, the Master Servicer shall deliver (i) to the Trustee
        for the benefit of the Certificateholders constituting the remaining portion
        of
        such Advance, if applicable, and (ii) to the Depositor, each Rating Agency
        and
        the Trustee an Officer’s Certificate setting forth the basis for such
        determination. 

       

      In
        lieu
        of making all or a portion of such Advance from its own funds, the Master
        Servicer may (i) cause to be made an appropriate entry in its records relating
        to the Protected Account that any Amounts Held for Future Distribution has
        been
        used by the Master Servicer in discharge of its obligation to make any such
        Advance and (ii) transfer such funds from the Protected Account to the
        Distribution Account. Any funds so applied and transferred shall be replaced
        by
        the Master Servicer by deposit in the Distribution Account, no later than
        the
        close of business on the Remittance Date immediately preceding the Distribution
        Date on which such funds are required to be distributed pursuant to this
        Agreement.

       

      The
        Master
        Servicer
        shall be entitled to be reimbursed from the Protected Account for all Advances
        of its own funds made pursuant to this Section as provided in Section 5.02.
        The
        obligation to make Advances with respect to any Mortgage Loan shall continue
        until such Mortgage Loan is paid in full or the related Mortgaged Property
        or
        related REO Property has been liquidated or until the purchase or repurchase
        thereof (or substitution therefor) from the Trust Fund pursuant to any
        applicable provision of this Agreement, except as otherwise provided in this
        Section 6.01.

       

      Subject
        to and in accordance with the provisions of Article IX hereof, in the event
        the
        Master Servicer fails to make such Advance, then the Trustee, as Successor
        Master Servicer, or any other Successor Master Servicer appointed hereunder,
        shall be obligated to make such Advance, subject to the provisions of this
        Section 6.01, in accordance with and subject to the terms of this Agreement
        (including its rights of reimbursement hereunder).

       

      Section
        6.02  Compensating
        Interest Payments. 

       

      In
        the
        event that there is a Prepayment Interest Shortfall arising from a voluntary
        Principal Prepayment in part or in full by the Mortgagor with respect to
        any
        Mortgage Loan, the Master Servicer shall, to the extent of the Servicing
        Fee for
        such Distribution Date, deposit into the Distribution Account, as a reduction
        of
        the Servicing Fee for such Distribution Date, no later than the close of
        business on the Remittance Date immediately preceding such Distribution Date,
        an
        amount equal to the Prepayment Interest Shortfall; and in case of such deposit,
        the Master Servicer shall not be entitled to any recovery or reimbursement
        from
        the Depositor, the Trustee, the Seller, the Trust Fund or the
        Certificateholders.

       

      Section
        6.03  REMIC
        Distributions. 

       

      On
        each
        Distribution Date the Trustee shall be deemed to have allocated distributions
        to
        the REMIC Regular Interests, each Regular Interest the ownership of which
        is
        represented by the Class A-3 Certificates and Class A-4 Certificates, the
        Class
        C Interest and the Class P Interest in accordance with Section 6.07
        hereof.

       

      Section
        6.04  Distributions. 

       

      (a)  On
        each
        Distribution Date, an amount equal to the Interest Funds and Principal Funds
        for
        such Distribution Date shall be withdrawn by the Trustee from the Distribution
        Account and distributed in the following order of priority:

       

      (1)  Interest
        Funds shall be distributed in the following manner and order of
        priority:

       

      (A)  to
        the
        Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, the Current Interest
        and any Interest Carry Forward Amount for each such Class, pro rata in
        accordance with the amount of accrued interest due thereon; and

       

      (B)  From
        remaining Interest Funds, sequentially, to the Class M-1, Class M-2, Class
        M-3,
        Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, in
        that
        order, the Current Interest for each such Class.

       

      Any
        Excess Spread to the extent necessary to meet a level of overcollateralization
        equal to the Overcollateralization Target Amount will be the Extra Principal
        Distribution Amount and will be included as part of the Principal Distribution
        Amount. Any Remaining Excess Spread together with any Overcollateralization
        Release Amount will be applied as Excess Cashflow and distributed pursuant
        to
        clauses (3)(A) through (H) below.

       

      On
        any
        Distribution Date, any Relief Act Interest Shortfalls and any Prepayment
        Interest Shortfalls to the extent not covered by Compensating Interest will
        be
        allocated as set forth in the definition of “Current Interest” herein and in
        Section 1.02.

       

      (2)  On
        each
        Distribution Date, the Principal Distribution Amount shall be distributed
        in the
        following manner and order of priority:

       

      (A)  For
        each
        Distribution Date (i) prior to the Stepdown Date or (ii) on which a Trigger
        Event is in effect:

       

      (i)  To
        the
        Class A Certificates (other than the Class A-4 Certificates), on a pro rata
        basis, the Principal Distribution Amount for such Distribution Date, until
        the
        Certificate Principal Balances thereof are reduced to zero; provided, however,
        the Principal Distribution Amount otherwise allocable to the Class A-2
        Certificates will first be distributed to the Class A-1 Certificates, until
        the
        Certificate Principal Balance thereof has been reduced to zero, and then
        to the
        Class A-2 Certificates;

       

      (ii)  To
        the
        Class M-1 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (iii)  To
        the
        Class M-2 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (iv)  To
        the
        Class M-3 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (v)  To
        the
        Class M-4 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (vi)  To
        the
        Class B-1 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (vii)  To
        the
        Class B-2 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero;

       

      (viii)  To
        the
        Class B-3 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to zero;
        and

       

      (ix)  To
        the
        Class B-4 Certificates, from any remaining Principal Funds for such Distribution
        Date, until the Certificate Principal Balance thereof is reduced to
        zero.

       

      (B)  For
        each
        Distribution Date on or after the Stepdown Date, so long as a Trigger Event
        is
        not in effect:

       

      (i)  To
        the
        Class A Certificates (other than the Class A-4 Certificates), on a pro rata
        basis, the Class A Principal Distribution Amount for such Distribution Date,
        until the Certificate Principal Balances thereof are reduced to zero; provided,
        however, the Class A Principal Distribution Amount otherwise allocable to
        the
        Class A-2 Certificates will first be distributed to the Class A-1 Certificates,
        until the Certificate Principal Balance thereof has been reduced to zero,
        and
        then to the Class A-2 Certificates;

       

      (ii)  To
        the
        Class M-1 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class M-1 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero;

       

      (iii)  To
        the
        Class M-2 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class M-2 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero;

       

      (iv)  To
        the
        Class M-3 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class M-3 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero;

       

      (v)  To
        the
        Class M-4 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class M-3 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero;

       

      (vi)  To
        the
        Class B-1 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class B-1 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero;

       

      (vii)  To
        the
        Class B-2 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class B-2 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero; 

       

      (viii)  To
        the
        Class B-3 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class B-3 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero; and

       

      (ix)  To
        the
        Class B-4 Certificates, from any remaining Principal Distribution Amount
        for
        such Distribution Date, the Class B-4 Principal Distribution Amount, until
        the
        Certificate Principal Balance thereof is reduced to zero.

       

      (3)  Any
        Excess Cashflow shall be distributed in the following manner and order of
        priority:

       

      (A)  To
        the
        Class A Certificates, (a) first, any remaining Interest Carry Forward Amount
        for
        such Classes, pro rata, in accordance with the Interest Carry Forward Amount
        due
        with respect to each such Class, to the extent not fully paid pursuant to
        clause
        (1) (A) above and (b) second, any Unpaid Realized Loss Amount for the Class
        A
        Certificates, on a pro rata basis, for such Distribution Date, in accordance
        with the Applied Realized Loss Amount allocated to each such Class;

       

      (B)  From
        any
        remaining Excess Cashflow, sequentially, to the Class M-1, Class M-2, Class
        M-3,
        Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, in
        that
        order, an amount equal to the Interest Carry Forward Amount for each such
        Class;

       

      (C)  From
        any
        remaining Excess Cashflow otherwise distributable to the Class C Interest
        and
        the Class C Certificates, to the Reserve Fund, (i) first, to pay to the Classes
        of Class A Certificates, any Basis Risk Shortfall Carry Forward Amount for
        such
        Classes for such Distribution Date, on a pro rata basis, based on the amount
        of
        the Basis Risk Shortfall Carry Forward Amount for each such Class, to the
        extent
        such amount exceeds the amounts then on deposit in the Reserve Fund, and
        (ii)
        second, to maintain a balance in the Reserve Fund equal to the Reserve Fund
        Deposit;

       

      (D)  From
        any
        remaining Excess Cashflow otherwise distributable to the Class C Interest
        and
        the Class C Certificates, to the Reserve Fund, (i) first, to pay to the Class
        M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3 and
        Class
        B-4 Certificates, sequentially in that order, any Basis Risk Shortfall Carry
        Forward Amount for each such Class, for such Distribution Date, if any, to
        the
        extent such amount exceeds the amounts then on deposit in the Reserve Fund,
        and
        (ii) second, to maintain a balance in the Reserve Fund equal to the Reserve
        Fund
        Deposit;

       

      (E)  From
        any
        remaining Excess Cashflow, to the Class A Certificates, on a pro rata basis,
        based on the entitlement of each such Class, and then sequentially to the
        Class
        M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3 and
        Class
        B-4 Certificates, in that order, the amount of Relief Act Shortfalls and
        any
        Prepayment Interest Shortfalls allocated to such Classes of Certificates,
        to the
        extent not previously reimbursed;

       

      (F)  From
        any
        remaining Excess Cashflow, to the Class C Interest and Class C Certificates,
        an
        amount equal to the Class C Distribution Amount reduced by amounts distributed
        in clauses (C) and (D) above; and

       

      (G)  From
        any
        remaining Excess Cashflow, to each of the Class R-1, Class R-2, Class R-3
        and
        Class RX Certificates, based on the related REMIC in which such amount
        remains.

       

      In
        addition, notwithstanding the foregoing, on any Distribution Date after the
        Distribution Date on which the Certificate Principal Balance of a Class of
        Class
        A, Class B or Class M Certificates has been reduced to zero, that Class of
        Certificates will be retired and will no longer be entitled to distributions,
        including distributions in respect of Prepayment Interest Shortfalls or Basis
        Risk Shortfall Carry Forward Amounts.

       

      (b)  Subject
        to Section 11.02 hereof respecting the final distribution, on each Distribution
        Date the Trustee shall make distributions to each Certificateholder of record
        on
        the preceding Record Date either by wire transfer in immediately available
        funds
        to the account of such Holder at a bank or other entity having appropriate
        facilities therefor, if (i) such Holder has so notified the Trustee at least
        5
        Business Days prior to the related Record Date and (ii) such Holder shall
        hold
        Regular Certificates with aggregate principal denominations of not less than
        $1,000,000 or evidencing a Percentage Interest aggregating 10% or more with
        respect to such Class or, if not, by check mailed by first class mail to
        such
        Certificateholder at the address of such Holder appearing in the Certificate
        Register. Notwithstanding the foregoing, but subject to Section 11.02 hereof
        respecting the final distribution, distributions with respect to Certificates
        registered in the name of a Depository shall be made to such Depository in
        immediately available funds.

       

      (c)  On
        or
        before 5:00 p.m. Eastern time on the fifth Business Day immediately preceding
        each Distribution Date, the Master Servicer shall deliver a report to the
        Trustee in the form of a computer readable magnetic tape (or by such other
        means
        as the Master Servicer and the Trustee may agree from time to time) containing
        such data and information, as agreed to by the Master Servicer and the Trustee
        such as to permit the Trustee to prepare the Monthly Statement to
        Certificateholders and to direct the Trusteee in writing to make the required
        distributions for the related Distribution Date (the “Remittance Report”).

       

      Section
        6.05  Allocation
        of Realized Losses. 

       

      (a)  All
        Realized Losses on the Mortgage Loans shall be allocated by the Trustee on
        each
        Distribution Date as follows: first, to Excess Spread through an increased
        distribution of the Extra Principal Distribution Amount for such Distribution
        Date; second, to the Class C Interest and Class C Certificates, until the
        Certificate Principal Balance or Uncertificated Principal Balance thereof,
        as
        applicable, has been reduced to zero; third, to the Class B-4 Certificates,
        until the Certificate Principal Balance thereof has been reduced to zero;
        fourth, to the Class B-3 Certificates, until the Certificate Principal Balance
        thereof has been reduced to zero; fifth, to the Class B-2 Certificates, until
        the Certificate Principal Balance thereof has been reduced to zero; sixth,
        to
        the Class B-1 Certificates, until the Certificate Principal Balance thereof
        has
        been reduced to zero; seventh, to the Class M-4 Certificates, until the
        Certificate Principal Balance thereof has been reduced to zero; eighth, to
        the
        Class M-3 Certificates, until the Certificate Principal Balance thereof has
        been
        reduced to zero; ninth, to the Class M-2 Certificates, until the Certificate
        Principal Balance thereof has been reduced to zero; tenth, to the Class M-1
        Certificates, until the Certificate Principal Balance thereof has been reduced
        to zero and eleventh, to the Class A Certificates (other than the Class A-4
        Certificates), on a pro rata basis, in reduction of the Certificate Principal
        Balances thereof, until reduced to zero. All Realized Losses to be allocated
        to
        the Certificate Principal Balances of all Classes on any Distribution Date
        shall
        be so allocated after the actual distributions to be made on such date as
        provided above. All references above to the Certificate Principal Balance
        of any
        Class of Certificates shall be to the Certificate Principal Balance of such
        Class immediately prior to the relevant Distribution Date, before reduction
        thereof by any Realized Losses, in each case to be allocated to such Class
        of
        Certificates, on such Distribution Date.

       

      (b)  Any
        allocation of Realized Losses to a Class of Certificates or to the Class
        C
        Interest on any Distribution Date shall be made by reducing the Certificate
        Principal Balance or Uncertificated Principal Balance thereof by the amount
        so
        allocated; any allocation of Realized Losses to Excess Spread shall be made
        by
        reducing the amount otherwise payable in respect of the Class C Interest
        and the
        Class C Certificates pursuant to clause (F) of Section 6.04(a)(3). 

       

      Notwithstanding
        the foregoing, no such allocation of any Realized Loss shall be made on a
        Distribution Date to any Class of Certificates to the extent that such
        allocation would result in the reduction of the aggregate Certificate Principal
        Balance of all the Certificates as of such Distribution Date (other than
        the
        Class C Certificates and Class P Certificates) after giving effect to all
        distributions and prior allocations of Realized Losses on the Mortgage Loans
        on
        such date, to an amount less than the aggregate Stated Principal Balance
        of all
        of the Mortgage Loans as of the first day of the month of such Distribution
        Date
        (such limitation, the “Loss Allocation Limitation”). In addition in no event
        will the Certificate Principal Balance of any Certificate be reduced more
        than
        once in respect of any particular amount both (i) allocable to such Certificate
        in respect of Realized Losses and (ii) payable as principal to the Holder
        of
        such Certificate from Remaining Excess Spread.

       

      As
        used
        herein, an allocation of a Realized Loss on a “pro
        rata
        basis”
among two or more specified Classes of Certificates means an allocation on
        a
pro
        rata
        basis,
        among the various Classes so specified, to each such Class of Certificates
        on
        the basis of their then outstanding Certificate Principal Balances prior
        to
        giving effect to distributions to be made on such Distribution Date. All
        Realized Losses and all other losses allocated to a Class of Certificates
        hereunder will be allocated among the Certificates of such Class in proportion
        to the Percentage Interests evidenced thereby.

       

      (c)  (i)All
        Realized Losses on the Mortgage Loans shall be allocated by the Trustee on
        each
        Distribution Date to the following REMIC I Regular Interests in the specified
        percentages, as follows: first, to Uncertificated Accrued Interest payable
        to
        REMIC I Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate
        amount equal to the REMIC I Interest Loss Allocation Amount (without duplication
        of shortfalls allocated pursuant to Section 1.02), 98.00% and 2.00%,
        respectively; second, to the Uncertificated Principal Balances of REMIC I
        Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount
        equal to the REMIC I Principal Loss Allocation Amount, 98.00% and 2.00%,
        respectively; third, to the Uncertificated Principal Balances of REMIC I
        Regular
        Interest AA, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ,
        98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC I Regular Interest B-4 has been reduced to zero; fourth,
        to the
        Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I
        Regular Interest B-3 and REMIC I Regular Interest ZZ, 98.00%, 1.00% and 1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC I Regular
        Interest B-3 has been reduced to zero; fifth, to the Uncertificated Principal
        Balances of REMIC I Regular Interest AA, REMIC I Regular Interest B-2 and
        REMIC
        I Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the
        Uncertificated Principal Balance of REMIC I Regular Interest B-2 has been
        reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC
        I
        Regular Interest AA, REMIC I Regular Interest B-1 and REMIC I Regular Interest
        ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC I Regular Interest B-1 has been reduced to zero; seventh,
        to
        the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC
        I
        Regular Interest M-4 and REMIC I Regular Interest ZZ, 98.00%, 1.00% and 1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC I Regular
        Interest M-4 has been reduced to zero; eighth, to the Uncertificated Principal
        Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-3 and
        REMIC
        I Regular Interest ZZ, 98.00%, 1.00% and 1.00%, respectively, until the
        Uncertificated Principal Balance of REMIC I Regular Interest M-3 has been
        reduced to zero; ninth, to the Uncertificated Principal Balances of REMIC
        I
        Regular Interest AA, REMIC I Regular Interest M-2 and REMIC I Regular Interest
        ZZ, 98.00%, 1.00% and 1.00%, respectively, until the Uncertificated Principal
        Balance of REMIC I Regular Interest M-2 has been reduced to zero; tenth,
        to the
        Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I
        Regular Interest M-1 and REMIC I Regular Interest ZZ, 98.00%, 1.00% and 1.00%,
        respectively, until the Uncertificated Principal Balance of REMIC I Regular
        Interest M-1 has been reduced to zero; and eleventh, to the Uncertificated
        Principal Balance of REMIC I Regular Interest AA, 98.00%, to the Uncertificated
        Principal Balances of REMIC I Regular Interests A-1, A-2 and A-3, 1.00% pro
        rata, and to the Uncertificated Principal Balance of REMIC I Regular Interest
        ZZ, 1.00%, until the Uncertificated Principal Balances of such REMIC I Regular
        Interests A-1, A-2 and A-3 have been reduced to zero.

       

      (ii) All
        Realized Losses on the Mortgage Loans shall be allocated on each Distribution
        Date to the REMIC II Regular Interests in the same manner and priority as
        Realized Losses are allocated to the Corresponding Certificates and, in the
        case
        of REMIC II Regular Interest C, to the Class C Interest, pursuant to Section
        6.05(a).

       

      Section
        6.06  Monthly
        Statements to Certificateholders. 

       

      (a)  Not
        later
        than each Distribution Date, the Trustee shall prepare and make available
        to
        each Holder of Certificates, the Master Servicer and the Depositor a statement
        setting forth for the Certificates:

       

      (i)  the
        applicable accrual periods for calculating distributions and general
        distribution dates;

       

      (ii)  the
        total
        cash flows received and the general sources thereof;

       

      (iii)  the
        amount, if any, of fees or expenses accrued and paid, with an identification
        of
        the payee and the general purpose of such fees including the related amount
        of
        the Servicing Fees paid to or retained by the Master Servicer for the related
        Due Period;

       

      (iv)  the
        amount of the related distribution to Holders of the Class A (other than
        the
        Class A-4 Certificates), Class M and Class B Certificates (by Class) allocable
        to principal, separately identifying (A) the aggregate amount of any Principal
        Prepayments included therein, (B) the aggregate of all scheduled payments
        of
        principal included therein and (C) the Extra Principal Distribution Amount
        (if
        any);

       

      (v)  the
        amount of such distribution to Holders of each Class of Class A, Class M
        and
        Class B Certificates allocable to interest

       

      (vi)  the
        amount of the distribution made on such Distribution Date to the Holders
        of the
        Class P Certificates allocable to Prepayment Charges

       

      (vii)  the
        Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward
        Amounts for each Class of Certificates (if any);

       

      (viii)  the
        Pass-Through Rate for each Class of Class A, Class M and Class B Certificates
        with respect to the current Accrual Period, and, if applicable, whether such
        Pass-Through Rate was limited by the related Net Rate Cap;

       

      (ix)  the
        number and Stated Principal Balance of all of the Mortgage Loans for the
        related
        Distribution Date, together with updated pool composition information including
        the following: weighted average mortgage rate and weighted average remaining
        term;

       

      (x)  the
        Certificate Principal Balance or Notional Amount, as applicable, of each
        Class
        before and after giving effect (i) to all distributions allocable to principal
        on such Distribution Date and (ii) the allocation of any Applied Realized
        Loss
        Amounts for such Distribution Date;

       

      (xi)  the
        number and aggregate Stated Principal Balance of the Mortgage Loans (A)
        Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy and
        those
        Liquidated Mortgage Loans as of the end of a Prepayment Period) (1) 30 days
        Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B)
        in
        foreclosure and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent
        and
        (3) 90 days or more Delinquent and
        (C)
        in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent
        and
        (3) 90 days

       

      (xii)  
        or more
        Delinquent, in each case as of the close of business on the last day of the
        calendar month preceding such Distribution Date;

       

      (xiii)  the
        amount of aggregate Advances included in the distribution on such Distribution
        Date (including the general purpose of such Advances), the aggregate amount
        of
        unreimbursed Advances as of the end of the Due Period, and the general source
        of
        funds for reimbursements;

       

      (xiv)  the
        amount of, if any, of excess cashflow or excess spread and the application
        of
        such excess cashflow;

       

      (xv)  the
        cumulative amount of Applied Realized Loss Amounts through the end of the
        preceding month;

       

      (xvi)  if
        applicable, material modifications, extensions or waivers to Mortgage Loan
        terms, fees, penalties or payments during the preceding calendar month or
        that
        have become material over time;

       

      (xvii)  with
        respect to any Mortgage Loan that was liquidated during the preceding calendar
        month, the aggregate Stated Principal Balance of, and Realized Loss on, such
        Mortgage Loans as of the end of the Due Period;

       

      (xviii)  unless
        otherwise set forth in the Form 10-D relating to such distribution date,
        material breaches of pool asset representation or warranties or transaction
        covenants which have been reported to the Trustee in accordance with this
        Agreement;

       

      (xix)  the
        total
        number and principal balance of any real estate owned or REO Properties as
        of
        the end of the related Due Period;

       

      (xx)  the
        three
        month rolling average of the percent equivalent of a fraction, the numerator
        of
        which is the aggregate Stated Principal Balance of the Mortgage Loans that
        are
        60 days or more delinquent or are in bankruptcy or foreclosure or are REO
        Properties, and the denominator of which is the aggregate Stated Principal
        Balance of all of the Mortgage Loans in
        each
        case as of the end of the Prepayment Period;

       

      (xxi)  the
        Realized Losses as of the close of business on the last day of the calendar
        month preceding such Distribution Date and the cumulative Realized Losses
        through the end of the preceding month;

       

      (xxii)  whether
        a
        Trigger Event exists; 

       

      (xxiii)  information
        on loss and delinquency used for determining early amortization, liquidation,
        stepdowns or other performance triggers and whether the trigger was
        met;

       

      (xxiv)  the
        amount of the Prepayment Charges remitted by the Master Servicer and the
        amount
        on deposit in the Reserve Fund; and

       

      (xxv)  updated
        pool composition data including the following: weighted average mortgage
        rate
        and weighted average remaining term.

       

      The
        Trustee may make the foregoing Monthly Statement (and, at its option, any
        additional files containing the same information in an alternative format)
        available each month to Certificateholders via the Trustee’s internet website.
        The Trustee’s internet website shall initially be located at “www.ctslink.com”.
        Assistance in using the website can be obtained by calling the Trustee’s
        customer service desk at (301) 815-6600. Parties that are unable to use the
        above distribution options are entitled to have a paper copy mailed to them
        via
        first class mail by calling the customer service desk and indicating such.
        The
        Trustee may change the way Monthly Statements are distributed in order to
        make
        such distributions more convenient or more accessible to the above
        parties.

       

      (b)  The
        Trustee’s responsibility for making the above information available to the
        Certificateholders is limited to the availability, timeliness and accuracy
        of
        the information derived from the Master Servicer. The Trustee will make
        available a copy of each statement provided pursuant to this Section 6.06
        to
        each Rating Agency.

       

      (c)  Within
        a
        reasonable period of time after the end of each calendar year, the Trustee
        shall
        furnish upon request to each Person who at any time during the calendar year
        was
        a Certificateholder, the information set forth in clauses (a)(iv) and (a)(v)
        of
        this Section 6.06 aggregated for such calendar year or applicable portion
        thereof during which such Person was a Certificateholder. Such obligation
        of the
        Trustee shall be deemed to have been satisfied to the extent that substantially
        comparable information shall be provided by the Trustee pursuant to any
        requirements of the Code as from time to time in effect.

       

      (d)  Upon
        filing with the Internal Revenue Service, the Trustee shall furnish to the
        Holders of the Residual Certificates the applicable Form 1066 and each
        applicable Form 1066Q and shall respond promptly to written requests made
        not
        more frequently than quarterly by any Holder of a Residual Certificate with
        respect to the following matters:

       

      (i)  The
        original projected principal and interest cash flows on the Closing Date
        on each
        class of Regular Interests and Residual Interests created hereunder and on
        the
        Mortgage Loans, based on the Prepayment Assumption;

       

      (ii)  The
        projected remaining principal and interest cash flows as of the end of any
        calendar quarter with respect to each class of Regular Interests and Residual
        Interests created hereunder and the Mortgage Loans, based on the Prepayment
        Assumption;

       

      (iii)  The
        applicable Prepayment Assumption and any interest rate assumptions used in
        determining the projected principal and interest cash flows described
        above;

       

      (iv)  The
        original issue discount (or, in the case of the Mortgage Loans, market discount)
        or premium accrued or amortized through the end of such calendar quarter
        with
        respect to each class of Regular Interests or Residual Interests created
        hereunder and to the Mortgage Loans, together with each constant yield to
        maturity used in computing the same;

       

      (v)  The
        treatment of Realized Losses with respect to the Mortgage Loans or the Regular
        Interests created hereunder, including the timing and amount of any cancellation
        of indebtedness income of a REMIC with respect to such Regular Interests
        or bad
        debt deductions claimed with respect to the related Mortgage Loans;

       

      (vi)  The
        amount and timing of any non-interest expenses of a REMIC; and

       

      (vii)  Any
        taxes
        (including penalties and interest) imposed on the REMIC, including, without
        limitation, taxes on “prohibited transactions,” “contributions” or “net income
        from foreclosure property” or state or local income or franchise
        taxes.

       

      The
        information pursuant to clauses (i), (ii), (iii) and (iv) above shall be
        provided by the Depositor pursuant to Section 10.12. 

       

      Section
        6.07  REMIC
        Designations and REMIC Distributions. 

       

      (a)  The
        Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV and
        REMIC V shall be treated as a REMIC under Section 860D of the Code. Any
        inconsistencies or ambiguities in this Agreement or in the administration
        of
        this Agreement shall be resolved in a manner that preserves the validity
        of such
        REMIC elections. The assets of REMIC I shall include the Mortgage Loans and
        all
        interest owing in respect of and principal due thereon, the Distribution
        Account, the Protected Account, any REO Property, any proceeds of the foregoing
        and any other assets subject to this Agreement (other than the Reserve Fund,
        the
        Class A-3/A-4 Net WAC Reserve Account and any Prepayment Charge Waiver Amounts).
        The REMIC I Regular Interests shall constitute the assets of REMIC II. The
        REMIC
        II Regular Interests shall constitute the assets of REMIC III. The Class
        C
        Interest shall constitute assets of REMIC IV. The Class P Interest shall
        constitute assets of REMIC V.

       

      (b)  On
        each
        Distribution Date, the Interest Funds and Principal Funds, in the following
        order of priority, shall be deemed distributed by REMIC I to REMIC II on
        account
        of the REMIC I Regular Interests (other than REMIC I Regular Interest P)
        or
        withdrawn from the Distribution Account and distributed to the Holders of
        the
        Class R-1 Certificates, as the case may be:

       

      (i)  to
        the
        holders of the REMIC I Regular Interests (other than REMIC I Regular Interest
        P), pro rata, in an amount equal to (A) the Uncertificated Accrued Interest
        for
        each such REMIC I Regular Interest for such Distribution Date, plus (B) any
        amounts in respect thereof remaining unpaid from previous Distribution Dates.
        Amounts payable as Uncertificated Accrued Interest in respect of REMIC I
        Regular
        Interest ZZ shall be reduced and deferred when the REMIC I Overcollateralization
        Amount is less than the REMIC I Overcollateralization Target Amount, by the
        lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest
        ZZ Maximum Interest Deferral Amount, and such amount will be payable to the
        holders of each REMIC I Regular Interest (other than REMIC I Regular Interest
        P)
        for which a REMIC II Regular Interest is the Corresponding Interest, allocated
        in the same proportion as the Extra Principal Distribution Amount is allocated
        to the Corresponding Certificates for such Corresponding Interests, and the
        Uncertificated Principal Balance of REMIC I Regular Interest ZZ shall be
        increased by such amount;

       

      (ii)  from
        the
        remainder of the Interest Funds and Principal Funds for such Distribution
        Date
        after the distribution made pursuant to clause (i) above, allocated as
        follows:

       

      (A)  98.00%
        of
        such remainder to the holders of REMIC I Regular Interest AA, until the
        Uncertificated Principal Balance of such REMIC I Regular Interest is reduced
        to
        zero;

       

      (B)  2.00%
        of
        such remainder, first, to the holders of each REMIC I Regular Interest for
        which
        a REMIC II Regular Interest (other than REMIC I Regular Interest P) is the
        Corresponding Interest, in an aggregate amount equal to 1.00% of and in the
        same
        proportion as principal payments are allocated to the Corresponding Certificates
        for such Corresponding Interests, until the Uncertificated Principal Balances
        of
        such REMIC I Regular Interests are reduced to zero, and second, to the holders
        of REMIC I Regular Interest ZZ, until the Uncertificated Principal Balance
        of
        such REMIC I Regular Interest is reduced to zero; and

       

      (C)  any
        remaining amount to the Holders of the Class R-1 Certificates.

       

      (c)  On
        each
        Distribution Date, all amounts representing Prepayment Charges shall be deemed
        distributed in respect of REMIC I Regular Interest P, provided that such
        amounts
        shall not reduce the Uncertificated Principal Balance of REMIC I Regular
        Interest P. On the Distribution Date immediately following the expiration
        of the
        latest Prepayment Charge term as identified on the Mortgage Loan Schedule,
        $100
        shall be deemed distributed in respect of REMIC I Regular Interest P in
        reduction of the Uncertificated Principal Balance thereof.

       

      (d)  On
        each
        Distribution Date, the Interest Funds and Principal Funds, in the following
        order of priority, shall be deemed distributed by REMIC II to REMIC III on
        account of the REMIC II Regular Interests (other than REMIC II Regular Interest
        P) or withdrawn from the Distribution Account and distributed to the Holders
        of
        the Class R-2 Certificates, as the case may be:

       

      (i)  to
        the
        holders of the REMIC II Regular Interests (other than REMIC II Regular Interest
        P), in the same manner and priority as paid to the Corresponding Certificates
        and, in the case of REMIC II Regular Interest C, as paid to the Class C
        Interest, the Uncertificated Accrued Interest (or, in the case of REMIC II
        Regular Interest C, the REMIC II Regular Interest C Distribution Amount)
        for
        such Distribution Date, plus any amounts in respect thereof remaining unpaid
        from previous Distribution Dates; and

       

      (ii)  to
        the
        holders of the REMIC II Regular Interests (other than REMIC II Regular Interest
        P), in an amount equal to the remainder of the Interest Funds and Principal
        Funds for such Distribution Date after the distribution made pursuant to
        clause
        (i) above, allocated in the same manner and priority as paid to the
        Corresponding Certificates, until the Uncertificated Principal Balances thereof
        have been reduced to zero, and any remaining amount to the Holders of the
        Class
        R-2 Certificates.

       

      (e) On
        each
        Distribution Date, all amounts representing Prepayment Charges distributed
        in
        respect of REMIC I Regular Interest P shall be deemed to be distributed in
        respect of REMIC II Regular Interest P, provided that such amounts shall
        not
        reduce the Uncertificated Principal Balance of REMIC II Regular Interest
        P. On
        the Distribution Date immediately following the expiration of the latest
        Prepayment Charge term as identified on the Mortgage Loan Schedule, $100
        shall
        be deemed distributed in respect of REMIC II Regular Interest P in reduction
        of
        the Uncertificated Principal Balance thereof.

      

      (f) On
        each
        Distribution Date, for federal income tax purposes, (1) (i) the Regular Interest
        the ownership of which is represented by the Class A-3 Certificates shall
        be
        deemed to receive (x) accrued interest at the related Uncertificated REMIC
        III
        Pass-Through Rate on an amount equal to the then current Certificate Principal
        Balance of the Class A-3 Certificates and (y) any amounts in respect thereof
        remaining unpaid from previous Distribution Dates for such Regular Interest,
        and
        (ii) the Regular Interest the ownership of which is represented by the Class
        A-4
        Certificates shall be deemed to receive (x) accrued interest at the related
        Uncertificated REMIC III Pass-Through Rate on the Uncertificated Notional
        Amount
        for such Regular Interest for such Distribution Date, and (y) any amounts
        in
        respect thereof remaining unpaid from previous Distribution Dates for such
        Regular Interest, and (2) amounts distributable in reduction of the Certificate
        Principal Balances of the Class A-3 Certificates shall be deemed distributed
        to
        the Regular Interest the ownership of which is represented by such Certificates
        in reduction of the related principal balance thereof. Any amounts received
        on
        each Distribution Date by Holders of the Class A-3 Certificates or Class
        A-4
        Certificates at a rate equal to the related Pass-Through Rate which is in
        excess
        of, or less than, the amounts specified above in the related clause (x) for
        the
        Regular Interests the ownership of which is represented by such Certificates
        shall be treated in accordance with the provisions relating to Class A-3/A-4
        Net
        WAC Pass-Through Amounts in Section 6.10.

       

      (g) On
        each
        Distribution Date, an amount equal to the amounts distributed pursuant to
        Sections 6.04(a)(3)(C), (D) and (F) on such date shall be deemed distributed
        from REMIC III to REMIC IV in respect of the Class C Distribution Amount
        distributable to the Class C Interest.

       

      (h) On
        each
        Distribution Date, 100% of the amounts deemed distributed on REMIC II Regular
        Interest P shall be deemed distributed by REMIC III to REMIC V in respect
        of the
        Class P Interest.

       

      Section
        6.08  Reserve
        Fund. 

       

      (a)  The
        Trustee shall establish a Reserve Fund on behalf of the Holders of the
Class
        A,
        Class
        B and Class M Certificates. The Reserve Fund shall be an Eligible Account.
        The
        Reserve Fund shall be entitled “Reserve Fund, Wells Fargo Bank, N.A. as Trustee
        for the benefit of Holders of Bear Stearns Mortgage Funding Trust 2006-AC1,
        Asset-Backed Certificates, Series 2006-AC1, Class A-1, Class A-2, Class A-3,
        Class A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2,
        Class B-3, Class B-4 and Class C”. On the Closing Date, the Depositor will
        deposit, or cause to be deposited, into the Reserve Fund an amount equal
        to the
        Reserve Fund Deposit. On each Distribution Date as to which there is a Basis
        Risk Shortfall Carry Forward Amount payable to any Class of Certificates,
        the
        Trustee shall deposit the amounts pursuant to clauses (C) and (D) of Section
        6.04(a)(3) into the Reserve Fund, and the Trustee has been directed by the
        Class
        C Certificateholder to distribute any amounts then on deposit in the Reserve
        Fund to the Holders of the Class A, Class M and Class B Certificates in respect
        of the Basis Risk Shortfall Carry Forward Amount for each such Class in the
        priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount
        paid to the Holders of Class A, Class M or Class B Certificates from amounts
        distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant
        to
        the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts
        shall be treated as distributed to the Class C Certificateholder in respect
        of
        the Class C Certificates and paid by the Class C Certificateholder to the
        Holders of the Class A, Class M or Class B Certificates. Any payments to
        the
        Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall
        Carry Forwards Amounts pursuant to the second preceding sentence shall not
        be
        payments with respect to a Regular Interest in a REMIC within the meaning
        of
        Section 860G(a)(1) of the Code.

       

      (b)  The
        Reserve Fund is an “outside reserve fund” within the meaning of Treasury
        Regulation Section 1.860G-2(h) and shall be an asset of the Trust Fund but
        not
        an asset of any REMIC. The Trustee on behalf of the Trust shall be the nominal
        owner of the Reserve Fund. The Class C Certificateholders shall be the
        beneficial owners of the Reserve Fund, subject to the power of the Trustee
        to
        transfer amounts under Section 6.04(a)(3). Amounts in the Reserve Fund shall
        be
        held either uninvested in a trust or deposit account of the Trustee with
        no
        liability for interest or other compensation thereof or, at the direction
        of the
        Class C Certificateholder, be invested in Permitted Investments that mature
        no
        later than the Business Day prior to the next succeeding Distribution Date.
        All
        net income and gain from such investments shall be distributed to the Class
        C
        Certificateholder, not as a distribution in respect of any interest in any
        REMIC, on such Distribution Date. All amounts earned on amounts on deposit
        in
        the Reserve Fund shall be taxable to the Class C Certificateholder. Any losses
        on such investments shall be deposited in the Reserve Fund by the Class C
        Certificateholder out of its own funds immediately as realized. In the event
        that the Class C Certificateholder shall fail to provide investment instructions
        to the Trustee, the amounts on deposit in the Reserve Fund shall be held
        uninvested.

       

      (c)  For
        federal tax return and information reporting, the right of the Holders of
        the
        Class A, Class M and Class B Certificates to receive payments from the Reserve
        Fund in respect of any Basis Risk Shortfall Carry Forward Amounts shall be
        assigned a value of zero.

       

      Section
        6.09  Class
        P
        Certificate Account. 

       

      The
        Trustee shall establish and maintain with itself a separate, segregated trust
        account for each of the Class P Certificates, titled “Bear Stearns Mortgage
        Funding Trust 2006-AC1 Class P Certificate Account” (the “Class P Certificate
        Account”). On the Closing Date, the Depositor will deposit, or cause to be
        deposited in the Class P Certificate Account $100.00. Prepayment charges
        shall
        be allocated to the Class P Certificate. The
        amount on deposit in the Class P Certificate Account shall be held uninvested.
        On the Distribution Date immediately following the expiration of the latest
        Prepayment Charge term as identified on the Mortgage Loan Schedule, the Trustee
        shall withdraw the amount on deposit in the Class P Certificate Account and
        remit such amount to the Holders of the Class P Certificates in reduction
        of the
        Certificate Principal Balance thereof.

       

      Section
        6.10  Class
        A-3/A-4 Net WAC Pass-Through Amount; Class A-3/A-4 Net WAC Reserve
        Account.

       

      (a)  The
        Trustee shall establish a Class A-3/A-4 Net WAC Reserve Account on behalf
        of the
        Holders of the Class A-3 Certificates and Class A-4 Certificates. The Class
        A-3/A-4 Net WAC Reserve Account shall be an Eligible Account. The Class A-3/A-4
        Net WAC Reserve Account shall be entitled “Class A-3/A-4 Net WAC Reserve
        Account, Wells Fargo Bank, N.A., as Trustee for the benefit of Holders of
        Bear
        Stearns Mortgage Funding Trust 2006-AC1, Asset-Backed Certificates, Series
        2006-AC1, Class A-3 Certificates and Class A-4 Certificates”. On the Closing
        Date, the Depositor will deposit, or cause to be deposited, into the Class
        A-3/A-4 Net WAC Reserve Account an amount equal to the Class A-3/A-4 Net
        WAC
        Reserve Account Deposit.

       

      (b)  On
        each
        Distribution Date on which the weighted average of the Net Mortgage Rates
        on the
        Mortgage Loans is less than the Class A-3/A-4 Target Rate, the accrued interest
        in respect of the Regular Interest the ownership of which is represented
        by the
        Class A-3 Certificates will include the Class A-3/A-4 Net WAC Pass-Through
        Amount for such Distribution Date. On each such Distribution Date, the Trustee
        shall deposit into the Class A-3/A-4 Net WAC Reserve Account the Class A-3/A-4
        Net WAC Pass-Through Amount for such Distribution Date, rather than distributing
        such amounts to the Class A-3 Certificateholders. Notwithstanding the foregoing,
        for federal, state and local tax purposes, such Class A-3/A-4 Net WAC
        Pass-Through Amount shall be deemed distributed to the Class A-3
        Certificateholders in respect of the Regular Interest the ownership of which
        is
        represented by the Class A-3 Certificates. On each such Distribution Date,
        the
        Trustee shall hold the Class A-3/A-4 Net WAC Pass-Through Amount for the
        benefit
        of the Holders of the Class A-4 Certificates, and shall distribute such amount
        to the Holders of the Class A-4 Certificates. Payments to the Holders of
        the
        Class A-4 Certificates of any Class A-3/A-4 Net WAC Pass-Through Amount will
        not
        be payments with respect to a Regular Interest in a REMIC within the meaning
        of
        Code Section 860G(a)(1).

       

      (c) By
        accepting a Class A-3 Certificate, each Class A-3 Certificateholder thereby
        agrees to direct the Trustee, and the Trustee is hereby directed, to deposit
        into the Class A-3/A-4 Net WAC Reserve Account any Class A-3/A-4 Net WAC
        Pass-Through Amount rather than distributing such amount to the Class A-3
        Certificateholders and further agrees that such direction is given for good
        and
        valuable consideration, the receipt and sufficiency of which is acknowledged
        by
        such acceptance. By accepting a Class A-3 Certificate, each Class A-3
        Certificateholder acknowledges that any such Class A-3/A-4 Net WAC Pass-Through
        Amount shall for federal, state and local tax purposes be deemed distributed
        in
        respect of the Regular Interest the ownership of which is represented by
        the
        Class A-3 Certificates. By accepting a Class A-4 Certificate, each Class
        A-4
        Certificateholder acknowledges that for federal, state and local tax purposes
        any payments of such Class A-3/A-4 Net WAC Pass-Through Amount shall not
        be
        payments with respect to a Regular Interest in a REMIC within the meaning
        of
        Code Section 860G(a)(1).

       

      (d) The
        Class
        A-3/A-4 Net WAC Reserve Account is an “outside reserve fund” within the meaning
        of Treasury Regulation Section 1.860G-2(h) and shall be an asset of the Trust
        Fund but not an asset of any REMIC. The Trustee on behalf of the Trust shall
        be
        the nominal owner of the Class A-3/A-4 Net WAC Reserve Account. The Class
        A-3
        Certificateholders shall be the beneficial owner of the Class A-3/A-4 Net
        WAC
        Reserve Account, subject to the power of the Trustee to transfer amounts
        under
        clause (b) above. Amounts in the Class A-3/A-4 Net WAC Reserve Account shall
        be
        held uninvested.

       

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        VII

      
 

      THE
        CERTIFICATES

       

      Section
        7.01  The
        Certificates. 

       

      The
        Certificates shall be substantially in the forms attached hereto as Exhibits
        A-1
        through A-7. The Certificates shall be issuable in registered form, in the
        minimum dollar denominations, integral dollar multiples in excess thereof
        (except that one Certificate of each Class may be issued in a different amount
        which must be in excess of the applicable minimum dollar denomination) and
        aggregate dollar denominations as set forth in the following table:

       

      

      
        	
                Class

              	 	
                Minimum
                  Denomination

              	 	
                Integral
                  Multiple in Excess of Minimum

              	 	
                Initial
                  Certificate Principal Balance or Notional Amount

              	 	
                Pass-Through
                  Rate

              	 
	
                A-1

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                75,000,000.00

              	 	
                Class
                  A-1 Pass-Through Rate

              	 
	
                A-2

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                7,000,000.00

              	 	
                Class
                  A-2 Pass-Through Rate

              	 
	
                A-3

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                144,798,000.00

              	 	
                Class
                  A-3 Pass-Through Rate

              	 
	
                A-4

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                (1)

              	 	
                Class
                  A-4 Pass-Through Rate

              	 
	
                M-1

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                5,913,000.00

              	 	
                Class
                  M-1 Pass-Through Rate

              	 
	
                M-2

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                3,080,000.00

              	 	
                Class
                  M-2 Pass-Through Rate

              	 
	
                M-3

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                1,478,000.00

              	 	
                Class
                  M-3 Pass-Through Rate

              	 
	
                M-4

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                1,232,000.00

              	 	
                Class
                  M-4 Pass-Through Rate

              	 
	
                B-1

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                1,109,000.00

              	 	
                Class
                  B-1 Pass-Through Rate

              	 
	
                B-2

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                862,000.00

              	 	
                Class
                  B-2 Pass-Through Rate

              	 
	
                B-3

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                1,232,000.00

              	 	
                Class
                  B-3 Pass-Through Rate

              	 
	
                B-4

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                1,478,000.00

              	 	
                Class
                  B-4 Pass-Through Rate

              	 
	
                C

              	 	
                $

              	
                100,000

              	 	
                $

              	
                1,000

              	 	
                $

              	
                246,386,026.04

              	
                (2)

              	
                (4)

              	 
	
                P

              	 	
                $

              	
                100

              	 	 	
                N/A

              	 	
                $

              	
                100.00

              	
                (3)

              	
                N/A

              	 
	
                R-1

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	
                (3)

              	
                N/A

              	 
	
                R-2

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	
                (3)

              	
                N/A

              	 
	
                R-3

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	
                (3)

              	
                N/A

              	 
	
                RX

              	 	 	
                100

              	
                %

              	 	
                N/A

              	 	 	
                N/A

              	
                (3)

              	
                N/A

              	 

      

      

      
        	(1)	
                The
                  Class A-4 Certificates do not have an initial Certificate Principal
                  Balance. The Class A-4 Certificates have an initial Notional Amount
                  of
                  $144,798,000.00, and for any subsequent Distribution Date, the
                  Class A-4
                  Certificates will have a Notional Amount equal to the Certificate
                  Principal Balance of the Class A-3 Certificates as of such Distribution
                  Date. 

              

      

      
        
          
            	(2)	
                    This
                      is a notional amount. 

                  

          

        

      

      
        
          
            	
                    (3)

                  	
                    The
                      Class P, Class R-1, Class R-2, Class R-3 and Class RX Certificates
                      are not
                      entitled to distributions in respect of
                      interest.

                  

            	(4)	As
                    defined in “Pass-Through Rate”
definition.

          

        

      

      
        
           

        

      

       

      The
        Certificates shall be executed by manual or facsimile signature on behalf
        of the
        Trustee by an authorized 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 bind the Trustee,
        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 authentication and delivery. No
        Certificate shall be entitled to any benefit under this Agreement, or be
        valid
        for any purpose, unless there appears on such Certificate the countersignature
        of the Trustee by manual signature, and such countersignature upon any
        Certificate shall be conclusive evidence, and the only evidence, that such
        Certificate has been duly countersigned and delivered hereunder. All
        Certificates shall be dated the date of their countersignature. On the Closing
        Date, the Trustee shall authenticate the Certificates to be issued at the
        written direction of the Depositor, or any affiliate thereof.

       

      The
        Depositor shall provide, or cause to be provided, to the Trustee on a continuous
        basis, an adequate inventory of Certificates to facilitate
        transfers.

       

      Section
        7.02  Certificate
        Register; Registration of Transfer and Exchange of Certificates. 

       

      (a)  The
        Trustee
        shall
        maintain, or cause to be maintained in accordance with the provisions of
        Section
        7.09 hereof, a Certificate Register for the Trust Fund in which, subject
        to the
        provisions of subsections (b) and (c) below and to such reasonable regulations
        as it may prescribe, the Trustee
        shall
        provide for the registration of Certificates and of Transfers and exchanges
        of
        Certificates as herein provided. Upon surrender for registration of Transfer
        of
        any Certificate, the Trustee
        shall
        authenticate and deliver, in the name of the designated transferee or
        transferees, one or more new Certificates of the same Class and of like
        aggregate Percentage Interest.

       

      At
        the option of a Certificateholder, Certificates may be exchanged for other
        Certificates of the same Class in authorized denominations and evidencing
        the
        same aggregate Percentage Interest upon surrender of the Certificates to
        be
        exchanged at the office or agency of the Trustee. Whenever any Certificates
        are
        so surrendered for exchange, the Trustee shall execute, authenticate, and
        deliver the Certificates that the Certificateholder making the exchange is
        entitled to receive. Every Certificate presented or surrendered for registration
        of Transfer or exchange shall be accompanied by a written instrument of Transfer
        in form satisfactory to the Trustee duly executed by the Holder thereof or
        his
        attorney duly authorized in writing.

       

      No
        service charge to the Certificateholders shall be made for any registration
        of
        Transfer or exchange of Certificates, but 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 may be required.

       

      All
        Certificates surrendered for registration of Transfer or exchange shall be
        canceled and subsequently destroyed by the Trustee in accordance with the
        Trustee’s customary procedures.

       

      (b)  No
        Transfer of a Private Certificate shall be made unless such Transfer is made
        pursuant to an effective registration statement under the Securities Act
        and any
        applicable state securities laws or is exempt from the registration requirements
        under the Securities Act and such state securities laws. In the event that
        a
        Transfer is to be made in reliance upon an exemption from the Securities
        Act and
        such laws, in order to assure compliance with the Securities Act and such
        laws,
        the Certificateholder desiring to effect such Transfer and such
        Certificateholder’s prospective transferee shall each certify to the
Trustee
        in
        writing the facts surrounding the Transfer in substantially the forms set
        forth
        in Exhibit D (the “Transferor Certificate”) and (x) deliver a letter in
        substantially the form of either Exhibit E (the “Investment Letter”) or Exhibit
        F (the “Rule 144A Letter”) or (y) there shall be delivered to the Trustee an
        Opinion of Counsel addressed to the Trustee
        that
        such Transfer may be made pursuant to an exemption from the Securities Act,
        which Opinion of Counsel shall not be an expense of the Depositor, the Seller,
        the Master Servicer or the Trustee. The Depositor shall provide to any Holder
        of
        a Private Certificate and any prospective transferee designated by any such
        Holder, information regarding the related Certificates and the Mortgage Loans
        and such other information as shall be necessary to satisfy the condition
        to
        eligibility set forth in Rule 144A(d)(4) for Transfer of any such Certificate
        without registration thereof under the Securities Act pursuant to the
        registration exemption provided by Rule 144A. The Trustee and the Master
        Servicer shall cooperate with the Depositor in providing the Rule 144A
        information referenced in the preceding sentence, including providing to
        the
        Depositor such information regarding the Certificates, the Mortgage Loans
        and
        other matters regarding the Trust Fund as the Depositor shall reasonably
        request
        to meet its obligation under the preceding sentence. Notwithstanding the
        provisions of the immediately preceding sentence, no restrictions shall apply
        with respect to the transfer or registration of transfer of a beneficial
        interest in any Certificate that is a Global Certificate of a Class to a
        transferee that takes delivery in the form of a beneficial interest in the
        Global Certificate of such Class provided that each such transferee shall
        be
        deemed to have made such representations and warranties contained in the
        Rule
        144A and Related Matters Certificate as are sufficient to establish that
        it is a
        QIB. Each Holder of a Private Certificate desiring to effect such Transfer
        shall, and does hereby agree to, indemnify the Trustee, the Depositor, the
        Seller and the Master Servicer 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 shall be made unless either (i)
        the
        Master Servicer and the Trustee shall have received a representation from
        the
        transferee of such Certificate acceptable to and in form and substance
        satisfactory to the Master Servicer and the Trustee, to the effect that such
        transferee is not an employee benefit plan subject to Section 406 of ERISA
        and/or a plan subject to Section 4975 of the Code, or a Person acting on
        behalf
        of any such plan or using the assets of any such plan, or (ii) in the case
        of
        any such ERISA Restricted Certificate presented for registration in the name
        of
        an employee benefit plan subject to ERISA, or a plan subject to Section 4975
        of
        the Code (or comparable provisions of any subsequent enactments), or a trustee
        of any such plan or any other person acting on behalf of any such plan, the
        Trustee shall have received an Opinion of Counsel for the benefit of the
        Trustee, the Master Servicer and the Trustee and on which they may rely,
        satisfactory to the Trustee, to the effect that the purchase and holding
        of such
        ERISA Restricted Certificate is permissible under applicable law, will not
        constitute or result in the assets of the Trust being deemed to be “plan assets”
under ERISA or the Code, will not result in any prohibited transactions under
        ERISA or Section 4975 of the Code and will not subject the Trustee, the Master
        Servicer or the Depositor to any obligation in addition to those expressly
        undertaken in this Agreement, which Opinion of Counsel shall not be an expense
        of the Trustee, the Master Servicer or the Depositor, or, in the case of
        a Class
        B-4 Certificate, the transferee provides a representation, or deemed
        representation in the case of the Global Certificate or an opinion of counsel
        to
        the effect that the proposed transfer and holding of such Certificate and
        the
        servicing, management and operation of the Trustee and its assets: (I) will
        not
        result in any prohibited transaction which is not covered under an individual
        or
        class prohibited transaction exemption, including, but not limited to,
        Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1,
        PTCE 95-60 or PTCE 96-23 and (II) will not give rise to any additional
        obligations on the part of the Depositor, the Master Servicer or the Trustee.
        Notwithstanding anything else to the contrary herein, any purported transfer
        of
        an ERISA Restricted Certificate to or on behalf of an employee benefit plan
        subject to Section 406 of ERISA and/or a plan subject to Section 4975 of
        the
        Code without the delivery of the Opinion of Counsel or representation as
        described above shall be void and of no effect; provided that the restriction
        set forth in this sentence shall not be applicable if there has been delivered
        to the Trustee an Opinion of Counsel meeting the requirements of clause (ii)
        of
        the first sentence of this paragraph. Neither the Trustee nor the Master
        Servicer shall be required to monitor, determine or inquire as to compliance
        with the transfer restrictions with respect to any ERISA Restricted Certificate
        that is a Book-Entry Certificate, and neither the Trustee nor the Master
        Servicer shall have any liability for transfers of any such Book-Entry
        Certificates made through the book-entry facilities of any Depository or
        between
        or among participants of the Depository or Certificate Owners made in violation
        of the transfer restrictions set forth herein. Neither the Trustee nor the
        Master Servicer shall be under any liability to any Person for any registration
        of transfer of any ERISA Restricted Certificate that is in fact not permitted
        by
        this Section 7.02(b) 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. The Trustee shall be entitled, but not obligated,
        to recover from any Holder of any ERISA Restricted Certificate that was in
        fact
        an employee benefit plan subject to Section 406 of ERISA or a plan subject
        to
        Section 4975 of the Code or a Person acting on behalf of any such plan at
        the
        time it became a Holder or, at such subsequent time as it became such a plan
        or
        Person acting on behalf of such a plan, all payments made on such ERISA
        Restricted Certificate at and after either such time. Any such payments so
        recovered by the Trustee shall be paid and delivered by the Trustee to the
        last
        preceding Holder of such Certificate that is not such a plan or Person acting
        on
        behalf of a plan.

       

      Each
        beneficial owner of a Class M Certificate and Class B Certificate, except
        for a
        Class B-4 Certificate, or any interest therein shall be deemed to have
        represented, by virtue of its acquisition or holding of that certificate
        or
        interest therein, that either (i) it is not a Plan or investing with “Plan
        Assets”, (ii) it has acquired and is holding such certificate in reliance on the
        Exemption, and that it understands that there are certain conditions to the
        availability of the Exemption, including that the certificate must be rated,
        at
        the time of purchase, not lower than “BBB-”(or its equivalent) by S&P, Fitch
        Ratings or Moody’s, and the certificate is so rated or (iii) (1) it is an
        insurance company, (2) the source of funds used to acquire or hold the
        certificate or interest therein is an “insurance company general account,” as
        such term is defined in Prohibited Transaction Class Exemption (“PTCE”) 95-60,
        and (3) the conditions in Sections I and III of PTCE 95-60 have been
        satisfied.

       

      (c)  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 the rights of each
        Person acquiring any Ownership Interest in a Residual Certificate are expressly
        subject to the following provisions:

       

      (i)  Each
        Person holding or acquiring any Ownership Interest in a Residual Certificate
        shall be a Permitted Transferee and shall promptly notify the Trustee of
        any
        change or impending change in its status as a Permitted Transferee.

       

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

       

      (iii)  Each
        Person holding or acquiring any Ownership Interest in a Residual Certificate
        shall agree (A) to obtain a Transfer Affidavit from any other Person to whom
        such Person attempts to Transfer its Ownership Interest in a Residual
        Certificate, (B) to obtain a Transfer Affidavit from any Person for whom
        such
        Person is acting as nominee, trustee or agent in connection with any Transfer
        of
        a Residual Certificate and (C) not to Transfer its Ownership Interest in
        a
        Residual Certificate or to cause the Transfer of an Ownership Interest in
        a
        Residual Certificate to any other Person if it has actual knowledge that
        such
        Person is not a Permitted Transferee.

       

      (iv)  Any
        attempted or purported Transfer of any Ownership Interest in a Residual
        Certificate in violation of the provisions of this Section 7.02(c) shall
        be
        absolutely null and void and shall vest no rights in the purported Transferee.
        If any purported transferee shall become a Holder of a Residual Certificate
        in
        violation of the provisions of this Section 7.02(c), then the last preceding
        Permitted Transferee shall be restored to all rights as Holder thereof
        retroactive to the date of registration of Transfer of such Residual
        Certificate. The Trustee shall not be under any liability to any Person for
        any
        registration of Transfer of a Residual Certificate that is in fact not permitted
        by Section 7.02(b) and this Section 7.02(c) 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 after receipt of the related Transfer Affidavit. The Trustee
        shall
        be
        entitled but not obligated to recover from any Holder of a Residual Certificate
        that was in fact not a Permitted Transferee at the time it became a Holder
        or,
        at such subsequent time as it became other than a Permitted Transferee, all
        payments made on such Residual Certificate at and after either such time.
        Any
        such payments so recovered by the Trustee shall be paid and delivered by
        the
        Trustee to the last preceding Permitted Transferee of such
        Certificate.

       

      (v)  The
        Master Servicer shall make available within 60 days of written request from
        the
Trustee,
        all
        information necessary to compute any tax imposed under Section 860E(e) of
        the
        Code as a result of a Transfer of an Ownership Interest in a Residual
        Certificate to any Holder who is not a Permitted Transferee.

       

      The
        restrictions on Transfers of a Residual Certificate set forth in this Section
        7.02(c) shall cease to apply (and the applicable portions of the legend on
        a
        Residual Certificate may be deleted) with respect to Transfers occurring
        after
        delivery to the Trustee of an Opinion of Counsel addressed to the Trustee, which
        Opinion of Counsel shall not be an expense of the Trustee, the Seller or
        the
        Master Servicer to the effect that the elimination of such restrictions will
        not
        cause REMIC I, REMIC II, REMIC III, REMIC IV or REMIC V, as applicable, to
        fail
        to qualify as a REMIC at any time that the Certificates are outstanding or
        result in the imposition of any tax on the Trust Fund, a Certificateholder
        or
        another Person. Each Person holding or acquiring any Ownership Interest in
        a
        Residual Certificate hereby consents to any amendment of this Agreement that,
        based on an Opinion of Counsel addressed to the Trustee and furnished to
        the
        Trustee, is reasonably necessary (a) to ensure that the record ownership
        of, or
        any beneficial interest in, a Residual Certificate is not transferred, directly
        or indirectly, to a Person that is not a Permitted Transferee and (b) to
        provide
        for a means to compel the Transfer of a Residual Certificate that is held
        by a
        Person that is not a Permitted Transferee to a Holder that is a Permitted
        Transferee.

       

      (d)  The
        preparation and delivery of all certificates and opinions referred to above
        in
        this Section 7.02 shall not be an expense of the Trust Fund, the Trustee,
        the
        Depositor, the Seller or the Master Servicer.

       

      (e)  Subject
        to Subsection 7.02(i), so long as a Global Certificate of such Class is
        outstanding and is held by or on behalf of the Depository, transfers of
        beneficial interests in such Global Certificate, or transfers by holders
        of
        Individual Certificates of such Class to transferees that take delivery in
        the
        form of beneficial interests in the Global Certificate, may be made only
        in
        accordance with Subsection 7.02(b) and in accordance with the rules of the
        Depository:

       

      (i)  In
        the
        case of a beneficial interest in the Global Certificate being transferred
        to an
        Institutional Accredited Investor, such transferee shall be required to take
        delivery in the form of an Individual Certificate or Certificates and the
        Trustee shall register such transfer only upon compliance with the provisions
        of
        Subsection 7.02(b).

       

      (ii)  In
        the
        case of a beneficial interest in a Class of Global Certificates being
        transferred to a transferee that takes delivery in the form of an Individual
        Certificate or Certificates of such Class, except as set forth in clause
        (i)
        above, the Trustee shall register such transfer only upon compliance with
        the
        provisions of Subsection 7.02(b).

       

      (iii)  In
        the
        case of an Individual Certificate of a Class being transferred to a transferee
        that takes delivery in the form of a beneficial interest in a Global Certificate
        of such Class, the Trustee shall register such transfer if the transferee
        has
        provided the Trustee with a Rule 144A and Related Matters Certificate or
        comparable evidence as to its QIB status.

       

      (iv)  No
        restrictions shall apply with respect to the transfer or registration of
        transfer of a beneficial interest in the Global Certificate of a Class to
        a
        transferee that takes delivery in the form of a beneficial interest in the
        Global Certificate of such Class; provided that each such transferee shall
        be
        deemed to have made such representations and warranties contained in the
        Rule
        144A and Related Matters Certificate as are sufficient to establish that
        it is a
        QIB.

       

      (f)  Subject
        to Subsection 7.02(h), an exchange of a beneficial interest in a Global
        Certificate of a Class for an Individual Certificate or Certificates of such
        Class, an exchange of an Individual Certificate or Certificates of a Class
        for a
        beneficial interest in the Global Certificate of such Class and an exchange
        of
        an Individual Certificate or Certificates of a Class for another Individual
        Certificate or Certificates of such Class (in each case, whether or not such
        exchange is made in anticipation of subsequent transfer, and, in the case
        of the
        Global Certificate of such Class, so long as such Certificate is outstanding
        and
        is held by or on behalf of the Depository) may be made only in accordance
        with
        this Subsection 7.02(e) and in accordance with the rules of the
        Depository:

       

      (i)  A
        holder
        of a beneficial interest in a Global Certificate of a Class may at any time
        exchange such beneficial interest for an Individual Certificate or Certificates
        of such Class.

       

      (ii)  A
        holder
        of an Individual Certificate or Certificates of a Class may exchange such
        Certificate or Certificates for a beneficial interest in the Global Certificate
        of such Class if such holder furnishes to the Trustee a Rule 144A and Related
        Matters Certificate or comparable evidence as to its QIB status.

       

      (iii)  A
        holder
        of an Individual Certificate of a Class may exchange such Certificate for
        an
        equal aggregate principal amount of Individual Certificates of such Class
        in
        different authorized denominations without any certification.

       

      (g)  (i)Upon
        acceptance for exchange or transfer of an Individual Certificate of a Class
        for
        a beneficial interest in a Global Certificate of such Class as provided herein,
        the Trustee shall cancel such Individual Certificate and shall (or shall
        request
        the Depository to) endorse on the schedule affixed to the applicable Global
        Certificate (or on a continuation of such schedule affixed to the Global
        Certificate and made a part thereof) or otherwise make in its books and records
        an appropriate notation evidencing the date of such exchange or transfer
        and an
        increase in the certificate balance of the Global Certificate equal to the
        certificate balance of such Individual Certificate exchanged or transferred
        therefor.

       

      (ii)  Upon
        acceptance for exchange or transfer of a beneficial interest in a Global
        Certificate of a Class for an Individual Certificate of such Class as provided
        herein, the Trustee shall (or shall request the Depository to) endorse on
        the
        schedule affixed to such Global Certificate (or on a continuation of such
        schedule affixed to such Global Certificate and made a part thereof) or
        otherwise make in its books and records an appropriate notation evidencing
        the
        date of such exchange or transfer and a decrease in the certificate balance
        of
        such Global Certificate equal to the certificate balance of such Individual
        Certificate issued in exchange therefor or upon transfer thereof.

       

      (h)  Any
        Individual Certificate issued in exchange for or upon transfer of another
        Individual Certificate or of a beneficial interest in a Global Certificate
        shall
        bear the applicable legends set forth in Exhibit A-2.

       

      (i)  Subject
        to the restrictions on transfer and exchange set forth in this Section 7.02,
        the
        holder of any Individual Certificate may transfer or exchange the same in
        whole
        or in part (in an initial certificate balance equal to the minimum authorized
        denomination set forth in Section 7.01 above or any integral multiple of
        $1.00
        in excess thereof) by surrendering such Certificate at the Corporate Trust
        Office, or at the office of any transfer agent, together with an executed
        instrument of assignment and transfer satisfactory in form and substance
        to the
        Trustee in the case of transfer and a written request for exchange in the
        case
        of exchange. The holder of a beneficial interest in a Global Certificate
        may,
        subject to the rules and procedures of the Depository, cause the Depository
        (or
        its nominee) to notify the Trustee in writing of a request for transfer or
        exchange of such beneficial interest for an Individual Certificate or
        Certificates. Following a proper request for transfer or exchange, the Trustee
        shall, within five Business Days of such request made at the Corporate Trust
        Office, sign, countersign and deliver at the Corporate Trust Office, to the
        transferee (in the case of transfer) or holder (in the case of exchange)
        or send
        by first class mail at the risk of the transferee (in the case of transfer)
        or
        holder (in the case of exchange) to such address as the transferee or holder,
        as
        applicable, may request, an Individual Certificate or Certificates, as the
        case
        may require, for a like aggregate Percentage Interest and in such authorized
        denomination or denominations as may be requested. The presentation for transfer
        or exchange of any Individual Certificate shall not be valid unless made
        at the
        Corporate Trust Office by the registered holder in person, or by a duly
        authorized attorney-in-fact.

       

      Neither
        the Trustee nor the Master Servicer shall be required to monitor, determine
        or
        inquire as to compliance with the transfer restrictions with respect to the
        Global Certificates. Any attempted or purported transfer of any Certificate
        in
        violation of the provisions of Subsections (a) or (b) above shall be void
        ab
        initio and such Certificate shall be considered to have been held continuously
        by the prior permitted Certificateholder. Any transferor of any Certificate
        in
        violation of such provisions, shall indemnify and hold harmless the Trustee
        and
        the Master Servicer from and against any and all liabilities, claims, costs
        or
        expenses incurred by the Trustee or the Master Servicer as a result of such
        attempted or purported transfer. The Trustee shall not have any liability
        for
        transfer of any such Global Certificates in or through book-entry facilities
        of
        any Depository or between or among Depository Participants or Certificate
        Owners
        made in violation of the transfer restrictions set forth herein.

       

      Section
        7.03  Mutilated,
        Destroyed, Lost or Stolen Certificates. 

       

      If
        any
        mutilated Certificate is surrendered to the Trustee, or the Trustee receives
        evidence to its satisfaction of the destruction, loss or theft of any
        Certificate and of the ownership thereof.

       

      Section
        7.04  Persons
        Deemed Owners. 

       

      The
        Trustee and any agent of the Trustee may treat the person in whose name any
        Certificate is registered as the owner of such Certificate for the purpose
        of
        receiving distributions as provided in this Agreement and for all other purposes
        whatsoever, and neither the Trustee nor any agent of the Trustee shall be
        affected by any notice to the contrary.

       

      Section
        7.05  Access
        to
        List of Certificateholders’ Names and Addresses. 

       

      If
        three
        or more Certificateholders (a) request such information in writing from the
        Trustee, (b) state that such Certificateholders desire to communicate with
        other
        Certificateholders with respect to their rights under this Agreement or under
        the Certificates, and (c) provide a copy of the communication that such
        Certificateholders propose to transmit or if the Depositor or the Master
        Servicer shall request such information in writing from the Trustee, then
        the
        Trustee shall, within ten Business Days after the receipt of such request,
        provide the Depositor, the Master Servicer or such Certificateholders at
        such
        recipients’ expense the most recent list of the Certificateholders of the Trust
        Fund held by the Trustee, if any. The Depositor and every Certificateholder,
        by
        receiving and holding a Certificate, agree that the Trustee shall not be
        held
        accountable by reason of the disclosure of any such information as to the
        list
        of the Certificateholders hereunder, regardless of the source from which
        such
        information was derived.

       

      Section
        7.06  Book-Entry
        Certificates. 

       

      The
        Offered Certificates, upon original issuance, shall be issued in the form
        of one
        or more typewritten Certificates representing the Book-Entry Certificates,
        to be
        delivered to the Depository by or on behalf of the Depositor. Such Certificates
        shall initially be registered on the Certificate Register in the name of
        the
        Depository or its nominee, and no Certificate Owner of such Certificates
        will
        receive a definitive certificate representing such Certificate Owner’s interest
        in such Certificates, except as provided in Section 7.08. Unless and until
        definitive, fully registered Certificates (“Definitive Certificates”) have been
        issued to the Certificate Owners of such Certificates pursuant to Section
        7.08:

       

      (a)  the
        provisions of this Section shall be in full force and effect;

       

      (b)  the
        Depositor and the Trustee may deal with the Depository and the Depository
        Participants for all purposes (including the making of distributions) as
        the
        authorized representative of the respective Certificate Owners of such
        Certificates;

       

      (c)  registration
        of the Book-Entry Certificates may not be transferred by the Trustee except
        to
        another Depository;

       

      (d)  the
        rights of the respective Certificate Owners of such Certificates shall be
        exercised only through the Depository and the Depository Participants and
        shall
        be limited to those established by law and agreements between the Owners
        of such
        Certificates and the Depository and/or the Depository Participants. Pursuant
        to
        the Depository Agreement, unless and until Definitive Certificates are issued
        pursuant to Section 7.08, the Depository will make book-entry transfers among
        the Depository Participants and receive and transmit distributions of principal
        and interest on the related Certificates to such Depository
        Participants;

       

      (e)  the
        Depository may collect its usual and customary fees, charges and expenses
        from
        its Depository Participants;

       

      (f)  the
        Trustee
        may
        rely
        and shall be fully protected in relying upon information furnished by the
        Depository with respect to its Depository Participants; and

       

      (g)  to
        the
        extent that the provisions of this Section conflict with any other provisions
        of
        this Agreement, the provisions of this Section shall control.

       

      For
        purposes of any provision of this Agreement requiring or permitting actions
        with
        the consent of, or at the direction of, Certificateholders evidencing a
        specified percentage of the aggregate unpaid principal amount of any Class
        of
        Certificates, such direction or consent may be given by Certificate Owners
        (acting through the Depository and the Depository Participants) owning
        Book-Entry Certificates evidencing the requisite percentage of principal
        amount
        of such Class of Certificates.

       

      The
        Private Certificates shall initially be held in fully registered certificated
        form. If at any time the Holders of all of the Certificates of one or more
        such
        Classes request that the Trustee cause such Class to become Global Certificates,
        the Depositor (with the assistance of the Trustee) will take such action
        as may
        be reasonably required to cause the Depository to accept such Class or Classes
        for trading if it may legally be so traded. If at anytime there are to be
        Global
        Certificates, the Global Certificates shall be delivered to the Depository
        by
        the Depositor or deposited with the Trustee as custodian for the
        Depository.

       

      All
        transfers by Certificate Owners of such respective Classes of Book-Entry
        Certificates and any Global 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 it represents or of
        brokerage firms for which it acts as agent in accordance with the Depository’s
        normal procedures.

       

      Section
        7.07  Notices
        to Depository. 

       

      Whenever
        any notice or other communication is required to be given to Certificateholders
        of a Class with respect to which Book-Entry Certificates have been issued,
        unless and until Definitive Certificates shall have been issued to the related
        Certificate Owners, the Trustee shall give all such notices and communications
        to the Depository.

       

      Section
        7.08  Definitive
        Certificates. 

       

      If,
        after
        Book-Entry Certificates have been issued with respect to any Certificates,
        (a)
        the Depositor or the Depository advises the Trustee that the Depository is
        no
        longer willing or able to discharge properly its responsibilities under the
        Depository Agreement with respect to such Certificates and the Depositor
        is
        unable to locate a qualified successor, (b) the Depositor, at its sole option,
        advises the Trustee that it elects to terminate the book-entry system with
        respect to such Certificates through the Depository or (c) after the occurrence
        and continuation of an Event of Default, Certificate Owners of such Book-Entry
        Certificates having not less than 51% of the Voting Rights evidenced by any
        Class of Book-Entry Certificates advise the Trustee and the Depository in
        writing through the Depository Participants that the continuation of a
        book-entry system with respect to Certificates of such Class through the
        Depository (or its successor) is no longer in the best interests of the
        Certificate Owners of such Class, then the Trustee shall notify all Certificate
        Owners of such Certificates, through the Depository, of the occurrence of
        any
        such event and of the availability of Definitive Certificates to applicable
        Certificate Owners requesting the same. The Depositor shall provide the Trustee
        with an adequate inventory of certificates to facilitate the issuance and
        transfer of Definitive Certificates. Upon surrender to the Trustee of any
        such
        Certificates by the Depository, accompanied by registration instructions
        from
        the Depository for registration, the Trustee shall countersign and deliver
        such
        Definitive Certificates. Neither the Depositor nor the Trustee shall be liable
        for any delay in delivery of such instructions and each may conclusively
        rely
        on, and shall be protected in relying on, such instructions. Upon the issuance
        of such Definitive Certificates, all references herein to obligations imposed
        upon or to be performed by the Depository shall be deemed to be imposed upon
        and
        performed by the Trustee, to the extent applicable with respect to such
        Definitive Certificates and the Trustee and the Trustee shall recognize the
        Holders of such Definitive Certificates as Certificateholders
        hereunder.

       

      Section
        7.09  Maintenance
        of Office or Agency. 

       

      The
        Trustee will maintain or cause to be maintained at its expense an office
        or
        offices or agency or agencies at Wells Fargo Bank, National Association,
        Sixth
        Street and Marquette Avenue, Minneapolis, Minnesota 55479 where Certificates
        may
        be surrendered for registration of transfer or exchange. The Trustee will
        give
        prompt written notice to the Certificateholders of any change in such location
        of any such office or agency.

       

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        VIII

      
 

      THE
        DEPOSITOR AND THE MASTER SERVICER

       

      Section
        8.01  Liabilities
        of the Depositor and the Master Servicer. 

       

      Each
        of
        the Depositor and the Master Servicer shall be liable in accordance herewith
        only to the extent of the obligations specifically imposed upon and undertaken
        by it herein.

       

      Section
        8.02  Merger
        or
        Consolidation of the Depositor or the Master Servicer. 

       

      (a)  Each
        of
        the Depositor and the Master Servicer will keep in full force and effect
        its
        existence, rights and franchises as a corporation under the laws of the state
        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 Depositor or the Master Servicer may be merged or
        consolidated, or any corporation resulting from any merger or consolidation
        to
        which the Depositor or the Master Servicer shall be a party, or any Person
        succeeding to the business of the Depositor or the Master Servicer, shall
        be the
        successor of the Depositor or 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
        8.03  Indemnification
        of the Trustee and the Master Servicer.

       

      (a)  The
        Master Servicer agrees to indemnify the Indemnified Persons for, and to hold
        them harmless against, any loss, liability or expense (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, any claim or
        legal
        action (including any pending or threatened claim or legal action) relating
        to
        this Agreement, including the powers of attorney delivered pursuant to Sections
        3.01 and 3.02 of this Agreement, the Custodial 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),
        the Trustee shall have given the Master Servicer and the Seller written notice
        thereof promptly after a responsible officer of the Trustee shall have with
        respect to such claim or legal action actual knowledge thereof; provided,
        however, the failure to give such notice shall not relieve the Master Servicer
        of its indemnification obligations hereunder. This indemnity shall survive
        the
        resignation or removal of the Trustee or the Master Servicer and the termination
        of this Agreement.

       

      (b)  The
        Master Servicer shall immediately notify the Trustee if a claim is made by
        a
        third party with respect to this Agreement or the Mortgage Loans, assume
        (with
        the consent of the Trustee and with counsel reasonably satisfactory to the
        Trustee) the defense of any such claim and pay all expenses in connection
        therewith, including counsel fees, and promptly pay, discharge and satisfy
        any
        judgment or decree which may be entered against it or any Indemnified Person
        in
        respect of such claim but failure to so notify the Master Servicer shall
        not
        limit its obligations hereunder. The Master Servicer agrees that it will
        not
        enter into any settlement of any such claim without the consent of the
        Indemnified Persons unless such settlement includes an unconditional release
        of
        such Indemnified Persons from all liability that is the subject matter of
        such
        claim. The provisions of this Section 8.03(b) shall survive termination of
        this
        Agreement.

       

      (c)  The
        Seller will indemnify any Indemnified Person for any loss, liability or expense
        of any Indemnified Person not otherwise paid or covered pursuant to Subsection
        (a) above.

       

      Section
        8.04  Limitations
        on Liability of the Depositor, the Master Servicer and Others. 

       

      Subject
        to the obligation of the Seller and the Master Servicer to indemnify the
        Indemnified Persons pursuant to Section 8.03:

       

      (a)  Neither
        the Depositor, the Master Servicer nor any of the directors, officers, employees
        or agents of the Depositor and the Master Servicer shall be under any liability
        to the Indemnified Persons, 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 Depositor, 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.

       

      (b)  The
        Depositor, the Master Servicer and any director, officer, employee or agent
        of
        the Depositor and 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
        Depositor, the Master Servicer, the Trustee, the Custodian and any director,
        officer, employee or agent of the Depositor, the Master Servicer, the Trustee
        or
        the Custodian shall be indemnified by the Trust and held harmless thereby
        against any loss, liability or expense (including reasonable legal fees and
        disbursements of counsel) incurred on their part that may be sustained in
        connection with, arising out of, or related to, any claim or legal action
        (including any pending or threatened claim or legal action) relating to this
        Agreement, the Custodial Agreement or the Certificates, other than (i) any
        such
        loss, liability or expense related to the Master Servicer’s failure to perform
        its respective duties in compliance with this Agreement (except as any such
        loss, liability or expense shall be otherwise reimbursable pursuant to this
        Agreement), or to the Custodian’s failure to perform its duties under the
        Custodial Agreement, or (ii) 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 duties hereunder or under
        the
        Custodial Agreement, as applicable, or by reason of reckless disregard of
        obligations and duties hereunder or under the Custodial Agreement, as
        applicable.

       

      (d)  Neither
        the Depositor nor the Master Servicer shall 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,
        with
        the consent of the Trustee (which consent shall not be unreasonably withheld),
        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 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 5.08. Nothing in this Subsection 8.04(d) shall affect
        the
        Master Servicer’s obligation to supervise, or to take such actions as are
        necessary to ensure, the servicing and administration of the Mortgage Loans
        pursuant to Section 3.01.

       

      (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 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.

       

      Section
        8.05  Master
        Servicer Not to Resign. 

       

      Except
        as
        provided in Section 8.07, the Master Servicer shall not resign from the
        obligations and duties hereby imposed on it except (i) with the prior written
        consent of the Trustee (which consent shall not be unreasonably withheld)
        or
        (ii) 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 Opinion of Counsel to such effect, addressed to and delivered
        to, the Trustee. No such resignation by the Master Servicer shall become
        effective until EMC or the Trustee or a successor to the Master Servicer
        reasonably satisfactory to the Trustee shall have assumed the responsibilities
        and obligations of the Master Servicer in accordance with Section 9.02 hereof.
        The Trustee shall notify the Rating Agencies of the resignation of the Master
        Servicer.

       

      Section
        8.06  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 the Trustee and such successor master servicer
        shall agree. If the successor master servicer does not agree that such market
        value is a fair price, such successor master servicer shall obtain two
        quotations of market value from third parties actively engaged in the servicing
        of single-family mortgage loans. In no event shall the compensation of any
        successor master servicer exceed that permitted the Master Servicer without
        the
        consent of all of the Certificateholders.

       

      Section
        8.07  Sale
        and
        Assignment of Master Servicing. 

       

      The
        Master Servicer may sell and assign its rights and delegate its duties and
        obligations in its entirety as Master Servicer under this Agreement; provided,
        however, that: (i) the purchaser or transferee accepting such assignment
        and
        delegation (a) shall be a Person which (or an Affiliate thereof the primary
        business of which is the servicing of conventional residential mortgage loans)
        shall be qualified to service mortgage loans for Fannie Mae or Freddie Mac;
        (b)
        shall have a net worth of not less than $15,000,000 (unless otherwise approved
        by each Rating Agency pursuant to clause (ii) below); (c) shall be reasonably
        satisfactory to the Trustee (as evidenced in a writing signed by the Trustee);
        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 rating 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, 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 an Officer’s Certificate and an Opinion of Counsel addressed to the
        Trustee, 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.

       

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        IX

      
 

      DEFAULT;
        TERMINATION OF MASTER SERVICER;

      TERMINATION
        OF COMPANY

       

      Section
        9.01  Events
        of
        Default. 

       

      “Event
        of
        Default,” wherever used herein, means any one of the following
        events:

       

      (i)  any
        failure by the Master Servicer to remit to the Trustee any amounts received
        or
        collected by the Master Servicer in respect of the Mortgage Loans and required
        to be remitted by it (other than any Advance) pursuant to this Agreement,
        which
        failure shall continue unremedied for one Business Day after the date on
        which
        written notice of such failure shall have been given to the Master Servicer
        by
        the Trustee or the Depositor, or to the Trustee and the Master Servicer by
        the
        Holders of Certificates evidencing not less than 25% of the Voting Rights
        evidenced by the Certificates; or

       

      (ii)  any
        failure by the Master Servicer to observe or perform in any material respect
        any
        other of the covenants or agreements on the part of the Master Servicer
        contained in this Agreement or any breach of a representation or warranty
        by the
        Master Servicer, which failure or breach shall continue unremedied for a
        period
        of 60 days after the date on which written notice of such failure shall have
        been given to Master Servicer by the Trustee or the Depositor, or to the
        Trustee
        and the Master Servicer by the Holders of Certificates evidencing not less
        than
        25% of the Voting Rights evidenced by the Certificates; or

       

      (iii)  a
        decree
        or order of a court or agency or supervisory authority having jurisdiction
        in
        the premises for the appointment of a receiver or liquidator 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 or unstayed for a period of 60 consecutive
        days;
        or

       

      (iv)  the
        Master Servicer shall consent to the appointment of a receiver or liquidator
        in
        any insolvency, readjustment of debt, marshalling of assets and liabilities
        or
        similar proceedings of or relating to the Master Servicer or all or
        substantially all of the property of the Master Servicer; or

       

      (v)  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, or commence a
        voluntary case under, any applicable insolvency or reorganization statute,
        make
        an assignment for the benefit of its creditors, or voluntarily suspend payment
        of its obligations;

       

      (vi)  the
        Master Servicer assigns or delegates its duties or rights under this Agreement
        in contravention of the provisions permitting such assignment or delegation
        under Sections 8.05 or 8.07; or

       

      (vii)  The
        Master Servicer fails to deposit, or cause to be deposited, in the Distribution
        Account any Advance required to be made by the Master Servicer (other than
        a
        Nonrecoverable Advance) by 5:00 p.m. New York City time on the Business Day
        prior to the related Distribution Date.

       

      If
        an Event of Default shall occur, then, and in each and every such case, so
        long
        as such Event of Default shall not have been remedied, the Trustee may, and
        at
        the direction of the Holders of Certificates evidencing not less than 25%
        of the
        Voting Rights evidenced by the Certificates, the Trustee shall, by notice
        in
        writing to the Master Servicer,
        with a
        copy to the Rating Agencies, terminate all of the rights and obligations
        (but
        not the liabilities)
        of the Master Servicer under this Agreement and in and to the Mortgage Loans
        and
        the proceeds thereof, other than its rights as a Certificateholder hereunder.
        On
        or after the receipt by the Master Servicer of such written notice, all
        authority and power of the Master Servicer hereunder, whether with respect
        to
        the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee,
        or
        any successor appointed pursuant to Section 9.02 (a “Successor Master
        Servicer”). Such Successor Master Servicer shall thereupon if such Successor
        Master Servicer is a successor to the Master Servicer, make any Advance required
        by Article VI, subject, in the case of the Trustee, to Section 9.02. The
        Trustee
        is hereby authorized and empowered to execute and deliver, on behalf of the
        terminated 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 or assignment
        of
        any Mortgage Loans and related documents, or otherwise. Unless expressly
        provided in such written notice, no such termination shall affect any obligation
        of the Master Servicer to pay amounts owed pursuant to Article VIII or Article
        X. The Master Servicer agrees to cooperate with the Trustee in effecting
        the
        termination of the Master Servicer’s responsibilities and rights hereunder,
        including, without limitation, the transfer to the applicable Successor Master
        Servicer of all cash amounts which shall at the time be credited to the
        Distribution Account maintained pursuant to Section 5.08, or thereafter be
        received with respect to the applicable Mortgage Loans. The Trustee shall
        promptly notify the Rating Agencies of the occurrence of an Event of Default
        known to the Trustee. 

       

      Notwithstanding
        any termination of the activities of the Master Servicer hereunder, the Master
        Servicer shall be entitled to receive, out of any late collection of a Scheduled
        Payment on a Mortgage Loan that was due prior to the notice terminating the
        Master Servicer’s rights and obligations as Master Servicer hereunder and
        received after such notice, that portion thereof to which the Master Servicer
        would have been entitled pursuant to Sections 5.02 and to receive any other
        amounts payable to the Master Servicer hereunder the entitlement to which
        arose
        prior to the termination of its activities hereunder.

       

      Notwithstanding
        the foregoing, if an Event of Default described in clause (vii) of this Section
        9.01 shall occur and the Master Servicer fails to make such Advance described
        in
        clause (vii), the Trustee shall, by notice in writing to the Master Servicer,
        which may be delivered by telecopy, immediately terminate 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 Advances and other advances of its own funds, and the Trustee
        shall act as provided in Section 8.02 to carry out the duties of the Master
        Servicer, including the obligation to make any Advance the nonpayment of
        which
        was an Event of Default described in clause (vii) of this Section 9.01. Any
        such
        action taken by the Trustee must be prior to the distribution on the relevant
        Distribution Date.

       

      Section
        9.02  Trustee
        to Act; Appointment of Successor. 

       

      On
        and
        after the time the Master Servicer receives a notice of termination pursuant
        to
        Section 9.01 hereof the Trustee shall automatically become the successor
        to the
        Master Servicer with respect to the transactions set forth or provided for
        herein and after a transition period (not to exceed 90 days), shall have
        all the
        rights and powers of, and be subject to all the responsibilities, duties
        and
        liabilities relating thereto placed on the Master Servicer by the terms and
        provisions hereof; provided, however that, pursuant to Article VI hereof,
        the
        Trustee in its capacity as successor Master Servicer shall be responsible
        for
        making any Advances required to be made by the Master Servicer immediately
        upon
        the termination of the Master Servicer and any such Advance shall be made
        on the
        Distribution Date on which such Advance was required to be made by the
        predecessor Master Servicer. Effective on the date of such notice of
        termination, as compensation therefor, the Trustee shall be entitled to all
        compensation, reimbursement of expenses and indemnifications that the Master
        Servicer would have been entitled to if it had continued to act hereunder,
        provided, however, that the Trustee shall not be (i) liable for any acts
        or
        omissions of the Master Servicer, (ii) obligated to make Advances if it is
        prohibited from doing so under applicable law, (iii) responsible for expenses
        of
        the Master Servicer pursuant to Section 2.03 or (iv) obligated to deposit
        losses
        on any Permitted Investment directed by the Master Servicer. Notwithstanding
        the
        foregoing, the Trustee may, if it shall be unwilling to so act, or shall,
        if it
        is prohibited by applicable law from making Advances pursuant to Article
        VI or
        if it is otherwise unable to so act, appoint, or petition a court of competent
        jurisdiction to appoint, any established mortgage loan servicing institution
        the
        appointment of which does not adversely affect the then current rating of
        the
        Certificates by each Rating Agency 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. Any Successor Master Servicer
        shall (i) be an institution that is a Fannie Mae and Freddie Mac approved
        seller/servicer in good standing, that has a net worth of at least $15,000,000
        and (ii) be willing to act as successor servicer of any Mortgage Loans under
        this Agreement, and shall have executed and delivered to the Depositor, the
        Trustee an agreement accepting such delegation and assignment, that contains
        an
        assumption by such Person of the rights, powers, duties, responsibilities,
        obligations and liabilities of the Master Servicer (other than any liabilities
        of the Master Servicer hereof incurred prior to termination of the Master
        Servicer under Section 9.01 or as otherwise set forth herein), with like
        effect
        as if originally named as a party to this Agreement, provided that each Rating
        Agency shall have acknowledged in writing that its rating of the Certificates
        in
        effect immediately prior to such assignment and delegation will not be qualified
        or reduced as a result of such assignment and delegation. If the Trustee
        assumes
        the duties and responsibilities of the Master Servicer in accordance with
        this
        Section 9.02, the Trustee shall not resign as Master Servicer until a Successor
        Master Servicer has been appointed and has accepted such appointment. Pending
        appointment of a successor to the Master Servicer hereunder, the Trustee,
        unless
        the Trustee is prohibited by law from so acting, shall act in such capacity
        as
        hereinabove provided. In connection with such appointment and assumption,
        the
        Trustee may make such arrangements for the compensation of such successor
        out of
        payments on Mortgage Loans or otherwise as it and such successor shall agree;
        provided that no such compensation unless agreed to by the Certificateholders
        shall be in excess of that permitted the Master Servicer hereunder. The Trustee
        and such successor shall take such action, consistent with this Agreement,
        as
        shall be necessary to effectuate any such succession. Neither the Trustee
        nor
        any other Successor Master Servicer shall be deemed to be in default hereunder
        by reason of any failure to make, or any delay in making, any distribution
        hereunder or any portion thereof or any failure to perform, or any delay
        in
        performing, any duties or responsibilities hereunder, in either case caused
        by
        the failure of the Master Servicer to deliver or provide, or any delay in
        delivering or providing, any cash, information, documents or records to
        it.

       

      The
        costs and expenses of the Trustee in connection with the termination of the
        Master Servicer, appointment of a Successor Master Servicer and, if applicable,
        any transfer of servicing, including, without limitation, all costs and expenses
        associated with the complete transfer of all servicing data and the completion,
        correction or manipulation of such servicing data as may be required by the
        Trustee to correct any errors or insufficiencies in the servicing data or
        otherwise to enable the Trustee or the Successor Master Servicer to service
        the
        related Mortgage Loans properly and effectively, to the extent not paid by
        the
        terminated Master Servicer, shall be payable to the Trustee pursuant to Section
        10.05. Any successor to the Master Servicer as successor servicer under any
        Subservicing Agreement shall give notice to the applicable Mortgagors of
        such
        change of servicer and shall, during the term of its service as successor
        servicer maintain in force the policy or policies that the Master Servicer
        is
        required to maintain pursuant to Section 3.08.

       

      Section
        9.03  Notification
        to Certificateholders and Rating Agencies. 

       

      (a)  Upon
        any
        termination of or appointment of a successor to the Master Servicer, the
        Trustee
        shall give prompt written notice thereof to Certificateholders and to each
        Rating Agency.

       

      (b)  Within
        60
        days after the occurrence of any Event of Default, the Trustee shall transmit
        by
        mail to all Certificateholders notice of each such Event of Default hereunder
        actually known to a Responsible Officer of the Trustee, unless such Event
        of
        Default shall have been cured or waived.

       

      Section
        9.04  Waiver
        of
        Defaults. 

       

      The
        Trustee shall transmit by mail to all Certificateholders, within 60 days
        after
        the occurrence of any Event of Default actually known to a Responsible Officer
        of the Trustee, unless such Event of Default shall have been cured, notice
        of
        each such Event of Default hereunder known to the Trustee. Holders of
        Certificates evidencing not less than 51% of the Voting Rights may, on behalf
        of
        all Certificateholders, waive any default by the Master Servicer in the
        performance of its obligations hereunder and the consequences thereof, except
        a
        default in the making of or the causing to be made of any required distribution
        on the Certificates. Upon any such waiver of a past default, such default
        shall
        be deemed to cease to exist, and any Event of Default arising therefrom shall
        be
        deemed to have been timely remedied for every purpose of this Agreement.
        No such
        waiver shall extend to any subsequent or other default or impair any right
        consequent thereon except to the extent expressly so waived. The Trustee
        shall
        give notice of any such waiver to the Rating Agencies.

       

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      ARTICLE
        X

      
 

      CONCERNING
        THE TRUSTEE 

       

      Section
        10.01  Duties
        of
        Trustee. 

       

      (a)  The
        Trustee, prior to the occurrence of an Event of Default and after the curing
        or
        waiver of all Events of Default which may have occurred, undertakes to perform
        such duties and only such duties as are specifically set forth in this Agreement
        as duties of the Trustee. If an Event of Default has occurred and has not
        been
        cured or waived, the Trustee shall exercise such of the rights and powers
        vested
        in it by this Agreement, and the same degree of care and skill in their
        exercise, as a prudent person would exercise under the circumstances in the
        conduct of such Person’s own affairs.

       

      (b)  Upon
        receipt of all resolutions, certificates, statements, opinions, reports,
        documents, orders or other instruments which are specifically required to
        be
        furnished to the Trustee pursuant to any provision of this Agreement, the
        Trustee shall examine them to determine whether they are, on their face,
        in the
        form required by this Agreement; provided, however, that the Trustee shall
        not
        be responsible for the accuracy or content of any resolution, certificate,
        statement, opinion, report, document, order or other instrument furnished
        by the
        Master Servicer; provided, further, that the Trustee shall not be responsible
        for the accuracy or verification of any calculation provided to it pursuant
        to
        this Agreement.

       

      (c)  On
        each
        Distribution Date, the Trustee shall make monthly distributions and the final
        distribution to the Certificateholders from funds in the Distribution Account
        as
        provided in Sections 6.04 and 11.02 herein based solely on the applicable
        Remittance Report.

       

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

       

      (i)  Prior
        to
        the occurrence of an Event of Default, and after the curing or waiver of
        all
        such Events of Default which may have occurred, the duties and obligations
        of
        the Trustee shall be determined solely by the express provisions of this
        Agreement, the Trustee shall not be liable except for the performance of
        their
        respective duties and obligations as are specifically set forth in this
        Agreement, no implied covenants or obligations shall be read into this Agreement
        against the Trustee and, in the absence of bad faith on the part of the Trustee,
        the Trustee may conclusively rely, as to the truth of the statements and
        the
        correctness of the opinions expressed therein, upon any certificates or opinions
        furnished to the Trustee and conforming to the requirements of this
        Agreement;

       

      (ii)  The
        Trustee shall not be liable in its individual capacity for an error of judgment
        made in good faith by a Responsible Officer or Responsible Officers of the
        Trustee unless it shall be proved that the Trustee was negligent in ascertaining
        the pertinent facts;

       

      (iii)  The
        Trustee shall not be liable with respect to any action taken, suffered or
        omitted to be taken by it in good faith in accordance with the directions
        of the
        Holders of Certificates evidencing not less than 25% of the aggregate Voting
        Rights of the Certificates (or such other percentage as specifically set
        forth
        herein), if such action or non-action relates to the time, method and place
        of
        conducting any proceeding for any remedy available to the Trustee or exercising
        any trust or other power conferred upon the Trustee under this
        Agreement;

       

      (iv)  The
        Trustee shall not be required to take notice or be deemed to have notice
        or
        knowledge of any default or Event of Default unless a Responsible Officer
        of the
        Trustee shall have actual knowledge thereof. In the absence of such notice,
        the
        Trustee may conclusively assume there is no such default or Event of
        Default;

       

      (v)  The
        Trustee shall not in any way be liable by reason of any insufficiency in
        any
        Account held in the name of Trustee unless it is determined by a court of
        competent jurisdiction in a non-appealable judgment that the Trustee’s gross
        negligence or willful misconduct was the primary cause of such insufficiency
        (except to the extent that the Trustee is obligor and has defaulted
        thereon);

       

      (vi)  Anything
        in this Agreement to the contrary notwithstanding, in no event shall the
        Trustee
        be liable for special, indirect or consequential loss or damage of any kind
        whatsoever (including but not limited to lost profits), even if the Trustee
        has
        been advised of the likelihood of such loss or damage and regardless of the
        form
        of action; and

       

      (vii)  None
        of
        the Master Servicer, the Seller, the Depositor or the Trustee shall be
        responsible for the acts or omissions of the other, it being understood that
        this Agreement shall not be construed to render them partners, joint venturers
        or agents of one another.

       

      The
        Trustee shall not be required to expend or risk its own funds or otherwise
        incur
        financial 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 adequate indemnity against
        such
        risk or liability is not reasonably assured to it, and none of the provisions
        contained in this Agreement shall in any event require the Trustee to perform,
        or be responsible for the manner of performance of, any of the obligations
        of
        the Master Servicer.

       

      (e)  All
        funds
        received by the Trustee and required to be deposited in the Distribution
        Account
        pursuant to this Agreement shall be promptly so deposited by the
        Trustee.

       

      Section
        10.02  Certain
        Matters Affecting the Trustee. 

       

      (a)  Except
        as
        otherwise provided in Section 10.01:

       

      (i)  The
        Trustee may rely and shall be protected in acting or refraining from acting
        in
        reliance on any resolution or certificate of the Seller or the Master Servicer,
        any certificates of auditors or any other certificate, statement, instrument,
        opinion, report, notice, request, consent, order, appraisal, bond or other
        paper
        or document believed by it to be genuine and to have been signed or presented
        by
        the proper party or parties;

       

      (ii)  The
        Trustee may consult with counsel and any advice of such counsel or any Opinion
        of Counsel shall be full and complete authorization and protection with respect
        to any action taken or suffered or omitted by it hereunder in good faith
        and in
        accordance with such advice or Opinion of Counsel;

       

      (iii)  The
        Trustee shall not be under any obligation to exercise any of the trusts or
        powers vested in it by this Agreement, other than its obligation to give
        notices
        pursuant to 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 pursuant to the provisions of this Agreement, unless such
        Certificateholders shall have offered to the Trustee reasonable security
        or
        indemnity against the costs, expenses and liabilities which may be incurred
        therein or thereby. Nothing contained herein shall, however, relieve the
        Trustee
        of the obligation, upon the occurrence of an Event of Default of which a
        Responsible Officer of the Trustee has actual knowledge (which has not been
        cured or waived), to exercise such of the rights and powers vested in it
        by this
        Agreement, and to use the same degree of care and skill in their exercise,
        as a
        prudent person would exercise under the circumstances in the conduct of his
        own
        affairs;

       

      (iv)  Prior
        to
        the occurrence of an Event of Default hereunder and after the curing or waiver
        of all Events of Default which may have occurred with respect to the Trustee,
        the Trustee shall not be liable in its individual capacity 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)  The
        Trustee shall not be bound to make any investigation into the facts or matters
        stated in any resolution, certificate, statement, instrument, opinion, report,
        notice, request, consent, order, approval, bond or other paper or document,
        unless requested in writing to do so by Holders of Certificates evidencing
        not
        less than 25% of the aggregate Voting Rights of the Certificates and provided
        that the payment within a reasonable time to the Trustee of the costs, expenses
        or liabilities likely to be incurred by it in the making of such investigation
        is, in the opinion of the Trustee reasonably assured to the Trustee by the
        security afforded to it by the terms of this Agreement. The Trustee may require
        reasonable indemnity against such expense or liability as a condition to
        taking
        any such action. The reasonable expense of every such examination shall be
        paid
        by the Certificateholders requesting the investigation;

       

      (vi)  The
        Trustee may execute any of the trusts or powers hereunder or perform any
        duties
        hereunder either directly or through Affiliates, agents or attorneys; provided,
        however, that the Trustee may not appoint any paying agent to perform any
        paying
        agent functions under this Agreement without the express written consent
        of the
        Master Servicer, which consents will not be unreasonably withheld. The Trustee
        shall not be liable or responsible for the misconduct or negligence of any
        of
        the Trustee’s agents or attorneys or paying agent appointed hereunder by the
        Trustee with due care and, when required, with the consent of the Master
        Servicer;

       

      (vii)  Should
        the Trustee deem the nature of any action required on its part to be unclear,
        the Trustee may require prior to such action that it be provided by the
        Depositor with reasonable further instructions; 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 accountable for other than
        its
        negligence or willful misconduct in the performance of any such
        act;

       

      (viii)  The
        Trustee shall not be required to give any bond or surety with respect to
        the
        execution of the trust created hereby or the powers granted hereunder, except
        as
        provided in Subsection 10.07; and

       

      (ix)  The
        Trustee shall not have any duty to conduct any affirmative investigation
        as to
        the occurrence of any condition requiring the repurchase of any Mortgage
        Loan by
        any Person pursuant to this Agreement, or the eligibility of any Mortgage
        Loan
        for purposes of this Agreement.

       

      (b)  The
        Trustee is hereby directed by the Depositor to execute and deliver the Insurance
        Agreement.

       

      Section
        10.03  Trustee
        Not Liable for Certificates or Mortgage Loans. 

       

      The
        recitals contained herein and in the Certificates (other than the signature
        and
        countersignature of the Trustee on the Certificates) shall be taken as the
        statements of the Depositor, and the Trustee shall not have any responsibility
        for their correctness. The Trustee does not make any representation as to
        the
        validity or sufficiency of the Certificates (other than the signature and
        countersignature of the Trustee on the Certificates) or of any Mortgage Loan
        except as expressly provided in Sections 2.02 and 2.06 hereof; provided,
        however, that the foregoing shall not relieve the Trustee, or the Custodian
        on
        its behalf, of the obligation to review the Mortgage Files pursuant to Section
        2.02 of this Agreement. The Trustee shall not be accountable for the use
        or
        application by the Depositor of any of the Certificates or of the proceeds
        of
        such Certificates, or for the use or application of any funds paid to the
        Depositor with respect to the Mortgage Loans. Subject to Section 2.06, the
        Trustee shall not be responsible for the legality or validity of this Agreement
        or any document or instrument relating to this Agreement, the validity of
        the
        execution of this Agreement or of any supplement hereto or instrument of
        further
        assurance, or the validity, priority, perfection or sufficiency of the security
        for the Certificates issued hereunder or intended to be issued hereunder.
        The
        Trustee shall not at any time have any responsibility or liability for or
        with
        respect to the legality, validity and enforceability of any Mortgage or any
        Mortgage Loan, or the perfection and priority of any Mortgage or the maintenance
        of any such perfection and priority, or for or with respect to the sufficiency
        of the Trust Fund or its ability to generate the payments to be distributed
        to
        Certificateholders, under this Agreement. The Trustee shall not have any
        responsibility for filing any financing or continuation statement in any
        public
        office at any time or to otherwise perfect or maintain the perfection of
        any
        security interest or lien granted to it hereunder or to record this
        Agreement.

       

      Section
        10.04  Trustee
        May Own Certificates. 

       

      The
        Trustee in its individual capacity or in any capacity other than as Trustee
        hereunder may become the owner or pledgee of any Certificates with the same
        rights it would have if it were not the Trustee and may otherwise deal with
        the
        parties hereto.

       

      Section
        10.05  Trustee’s
        Fees and Expenses. 

       

      The
        Trustee will be entitled to recover from the Distribution Account pursuant
        to
        Section 5.08, the Trustee Fee, all reasonable out-of-pocket expenses,
        disbursements and advances and the expenses of the Trustee in connection
        with
        any Event of Default, any breach of this Agreement or any claim or legal
        action
        (including any pending or threatened claim or legal action) incurred or made
        by
        the Trustee in the administration of the trusts hereunder (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 the responsibility of the Certificateholders
        or the Trust Fund hereunder. If funds in the Distribution Account are
        insufficient therefor, the Trustee shall recover such expenses, disbursements
        or
        advances from the Depositor and the Depositor hereby agrees to pay such
        expenses, disbursements or advances upon demand. 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
        10.06  Eligibility
        Requirements for Trustee. 

       

      The
        Trustee and any successor Trustee shall during the entire duration of this
        Agreement be a state bank or trust company or a national banking association
        organized and doing business under the laws of a state or the United States
        of
        America, authorized under such laws to exercise corporate trust powers, having
        a
        combined capital and surplus and undivided profits of at least $40,000,000
        or,
        in the case of a successor Trustee, $50,000,000, subject to supervision or
        examination by federal or state authority and, in the case of the Trustee,
        rated
“BBB” or higher by Fitch, Inc. with respect to their long-term rating and rated
        “BBB” or higher by Standard & Poor’s and “Baa2” or higher by Moody’s with
        respect to any outstanding long-term unsecured unsubordinated debt, and,
        in the
        case of a successor Trustee other than pursuant to Section 10.10, rated in
        one
        of the two highest long-term debt categories of, or otherwise acceptable
        to,
        each of the Rating Agencies (which consent shall not be unreasonably withheld).
        The Trustee shall not be an Affiliate of the Master Servicer. If the Trustee
        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 10.06 the combined capital and surplus of such
        corporation shall be deemed to be its total equity capital (combined capital
        and
        surplus) as set forth in its most recent report of condition so published.
        In
        case at any time the Trustee shall cease to be eligible in accordance with
        the
        provisions of this Section 10.06, the Trustee shall resign immediately in
        the
        manner and with the effect specified in Section 10.08.

       

      Section
        10.07  Insurance. 

       

      The
        Trustee, at its own expense, shall at all times maintain and keep in full
        force
        and effect: (i) fidelity insurance, (ii) theft of documents insurance and
        (iii)
        forgery insurance (which may be collectively satisfied by a “Financial
        Institution Bond” and/or a “Bankers’ Blanket Bond”). All such insurance shall be
        in amounts, with standard coverage and subject to deductibles, as are customary
        for insurance typically maintained by banks or their affiliates which act
        as
        custodians for investor-owned mortgage pools. A certificate of an officer
        of the
        Trustee as to the Trustee’s compliance with this Section 10.07 shall be
        furnished to any Certificateholder upon reasonable written request.

       

      Section
        10.08  Resignation
        and Removal of Trustee. 

       

      The
        Trustee may at any time resign and be discharged from the Trust hereby created
        by giving written notice thereof to the Depositor, the Seller and the Master
        Servicer, with a copy to the Rating Agencies. Upon receiving such notice
        of
        resignation, the Depositor shall promptly appoint a successor trustee by
        written
        instrument, in triplicate, one copy of which instrument shall be delivered
        to
        each of the resigning trustee and the successor trustee. If no successor
        trustee
        shall have been so appointed and have accepted appointment within 30 days
        after
        the giving of such notice of resignation, the resigning Trustee may petition
        any
        court of competent jurisdiction for the appointment of a successor
        trustee.

       

      If
        at any time (i) the Trustee shall cease to be eligible in accordance with
        the
        provisions of Section 10.06 hereof and shall fail to resign after written
        request thereto by the Depositor, (ii) the Trustee shall become incapable
        of
        acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the
        Trustee or of its property shall be appointed, or any public officer shall
        take
        charge or control of the Trustee or of its property or affairs for the purpose
        of rehabilitation, conservation or liquidation, or (iii)(A) a tax is imposed
        with respect to the Trust Fund by any state in which the Trustee or the Trust
        Fund is located, (B) the imposition of such tax would be avoided by the
        appointment of a different trustee and (C) the Trustee fails to indemnify
        the
        Trust Fund against such tax, then the Depositor or the Master Servicer may
        remove the Trustee and appoint a successor trustee by written instrument,
        in
        multiple copies, a copy of which instrument shall be delivered to the Trustee,
        each Master Servicer and the successor trustee.

       

      The
        Holders evidencing at least 51% of the Voting Rights of the Certificates
        may at
        any time remove the Trustee and appoint a successor trustee by written
        instrument or instruments, in multiple copies, signed by such Holders or
        their
        attorneys-in-fact duly authorized, one complete set of which instruments
        shall
        be delivered by the successor trustee to each of the Master Servicer or the
        Trustee so removed and the successor trustee so appointed. Notice of any
        removal
        of the Trustee shall be given to each Rating Agency by the Trustee or successor
        trustee.

       

      Any
        resignation or removal of the Trustee and appointment of a successor trustee
        pursuant to any of the provisions of this Section 10.08 shall become effective
        upon acceptance of appointment by the successor trustee as provided in Section
        10.09 hereof.

       

      Section
        10.09  Successor
        Trustee. 

       

      Any
        successor trustee appointed as provided in Section 10.08 hereof shall execute,
        acknowledge and deliver to the Depositor and to its predecessor trustee and
        the
        Master Servicer an instrument accepting such appointment hereunder and thereupon
        the resignation or removal of the predecessor trustee shall become effective
        and
        such successor trustee, without any further act, deed or conveyance, shall
        become fully vested with all the rights, powers, duties and obligations of
        its
        predecessor hereunder, with the like effect as if originally named as trustee
        herein.

       

      No
        successor trustee shall accept appointment as provided in this Section 10.09
        unless at the time of such acceptance such successor trustee shall be eligible
        under the provisions of Section 10.06 hereof and its appointment shall not
        adversely affect the then current rating of the Certificates.

       

      Upon
        acceptance of appointment by a successor trustee as provided in this Section
        10.09, the successor trustee shall mail notice of the succession of such
        trustee
        hereunder to all Holders of Certificates. If the successor trustee fails
        to mail
        such notice within ten days after acceptance of appointment, the Depositor
        shall
        cause such notice to be mailed at the expense of the Trust Fund.

       

      Section
        10.10  Merger
        or
        Consolidation of Trustee. 

       

      Any
        corporation, state bank or national banking association into which the Trustee
        may be merged or converted or with which it may be consolidated or any
        corporation, state bank or national banking association resulting from any
        merger, conversion or consolidation to which the Trustee shall be a party,
        or
        any corporation, state bank or national banking association succeeding to
        substantially all of the corporate trust business of the Trustee, shall be
        the
        successor of the Trustee hereunder, provided that such corporation shall
        be
        eligible under the provisions of Section 10.06 hereof 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
        10.11  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 property securing any Mortgage Note may at the time be located, the Master
        Servicer and the Trustee acting jointly shall have the power and shall execute
        and deliver all instruments to appoint one or more Persons approved by the
        Trustee to act as co-trustee or co-trustees jointly with the Trustee, or
        separate trustee or separate trustees, of all or any part of the Trust Fund,
        and
        to vest in such Person or Persons, in such capacity and for the benefit of
        the
        Certificateholders, such title to the Trust Fund or any part thereof, whichever
        is applicable, and, subject to the other provisions of this Section 10.11,
        such
        powers, duties, obligations, rights and trusts as the Master Servicer and
        the
        Trustee may consider necessary or desirable. If the Master Servicer shall
        not
        have joined in such appointment within 15 days after the receipt by it of
        a
        request to do so, or in the case an Event of Default shall have occurred
        and be
        continuing, the Trustee alone shall have the power to make such appointment.
        No
        co-trustee or separate trustee hereunder shall be required to meet the terms
        of
        eligibility as a successor trustee under Section 10.06 and no notice to
        Certificateholders of the appointment of any co-trustee or separate trustee
        shall be required under Section 10.09.

       

      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,
        except for the obligation of the Trustee under this Agreement to advance
        funds
        on behalf of the Master Servicer, 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 a Trustee hereunder or as a Successor 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

       

      (iii)  The
        Trustee 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
        X.
        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
        Master Servicer and the Depositor.

       

      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
        10.12  Tax
        Matters. 

       

      It
        is
        intended that the Trust Fund shall constitute one or more REMICs, and that
        the
        affairs of the Trust Fund shall be conducted so that each REMIC formed hereunder
        qualifies as a “real estate mortgage investment conduit” as defined in and in
        accordance with the REMIC Provisions. In furtherance of such intention, the
        Trustee covenants and agrees that it shall act as agent for so long as it
        is
        also Master Servicer (and the Trustee is hereby appointed to act as agent)
        on
        behalf of the Trust Fund. The Trustee, as agent on behalf of the Trust Fund,
        shall do or refrain from doing, as applicable, the following: (a) the Trustee
        shall prepare and file, or cause to be prepared and filed, in a timely manner,
        U.S. Real Estate Mortgage Investment Conduit Income Tax Returns (Form 1066
        or
        any successor form adopted by the Internal Revenue Service) and prepare and
        file
        or cause to be prepared and filed with the Internal Revenue Service and
        applicable state or local tax authorities income tax or information returns
        for
        each taxable year with respect to each such REMIC containing such information
        and at the times and in the manner as may be required by the Code or state
        or
        local tax laws, regulations or rules, and furnish or cause to be furnished,
        to
        Certificateholders the schedules, statements or information at such times
        and in
        such manner as may be required thereby; (b) the Trustee shall apply for an
        employer identification number with the Internal Revenue Service via a Form
        SS-4
        or other comparable method for each REMIC that is or becomes a taxable entity,
        and within thirty days of the Closing Date, furnish or cause to be furnished
        to
        the Internal Revenue Service on Forms 8811 or as otherwise may be required
        by
        the Code, the name, title, address, and telephone number of the person that
        the
        Holders of the Certificates may contact for tax information relating thereto,
        together with such additional information as may be required by such form,
        and
        update such information at the time or times in the manner required by the
        Code
        for the Trust Fund; (c) the Trustee shall make, or cause to be made, elections
        on behalf of each REMIC formed hereunder to be treated as a REMIC on the
        federal
        tax return of such REMIC for its first taxable year (and, if necessary, under
        applicable state law); (d) the Trustee shall prepare and forward, or cause
        to be
        prepared and forwarded, to the Certificateholders and to the Internal Revenue
        Service and, if necessary, state tax authorities, all information returns
        and
        reports as and when required to be provided to them in accordance with the
        REMIC
        Provisions, including without limitation, the calculation of any original
        issue
        discount using the Prepayment Assumption; (e) the Trustee shall provide
        information necessary for the computation of tax imposed on the transfer
        of a
        Residual Certificate to a Person that is not a Permitted Transferee, or an
        agent
        (including a broker, nominee or other middleman) of a Person that is not
        a
        Permitted Transferee, or a pass-through entity in which a Person that is
        not a
        Permitted Transferee is the record Holder of an interest (the reasonable
        cost of
        computing and furnishing such information may be charged to the Person liable
        for such tax); (f) the Trustee shall, to the extent under its control, conduct
        the affairs of the Trust Fund at all times that any Certificates are outstanding
        so as to maintain the status of each REMIC formed hereunder as a REMIC under
        the
        REMIC Provisions; (g) the Trustee shall not knowingly or intentionally take
        any
        action or omit to take any action that could (i) cause the termination of
        the
        REMIC status of any REMIC formed hereunder or (ii) result in the imposition
        of a
        tax upon the Trust Fund (including but not limited to the tax on prohibited
        transactions as defined in Section 860F(a)(2) of the Code and the tax on
        contributions to a REMIC set forth in Section 860G(d) of the Code); (h) the
        Trustee shall pay, from the sources specified in this Section 10.12, the
        amount
        of any federal, state and local taxes, including prohibited transaction taxes
        as
        described below, imposed on any REMIC formed hereunder prior to the termination
        of the Trust Fund when and as the same shall be due and payable (but such
        obligation shall not prevent the Trustee or any other appropriate Person
        from
        contesting any such tax in appropriate proceedings and shall not prevent
        the
        Trustee from withholding payment of such tax, if permitted by law, pending
        the
        outcome of such proceedings); (i) the Trustee shall sign or cause to be signed
        federal, state or local income tax or information returns or any other document
        prepared by the Trustee pursuant to this Section 10.12 requiring a signature
        thereon by the Trustee; (j) the Trustee shall maintain records relating to
        each
        REMIC formed hereunder including but not limited to the income, expenses,
        assets
        and liabilities of each such REMIC and adjusted basis of the Trust Fund property
        determined at such intervals as may be required by the Code, as may be necessary
        to prepare the foregoing returns, schedules, statements or information; (k)
        the
        Trustee shall, for federal income tax purposes, maintain books and records
        with
        respect to the REMICs on a calendar year and on an accrual basis; (l) neither
        the Trustee nor the Master Servicer shall enter into any arrangement not
        otherwise provided for in this Agreement by which the REMICs will receive
        a fee
        or other compensation for services nor permit the REMICs to receive any income
        from assets other than “qualified mortgages” as defined in Section 860G(a)(3) of
        the Code or “permitted investments” as defined in Section 860G(a)(5) of the
        Code; and (m) as and when necessary and appropriate, the Trustee shall represent
        the Trust Fund in any administrative or judicial proceedings relating to
        an
        examination or audit by any governmental taxing authority, request an
        administrative adjustment as to any taxable year of any REMIC formed hereunder,
        enter into settlement agreements with any governmental taxing agency, extend
        any
        statute of limitations relating to any tax item of the Trust Fund, and otherwise
        act on behalf of each REMIC formed hereunder in relation to any tax matter
        involving any such REMIC.

       

      In
        order to enable the Trustee to perform its duties as set forth herein, the
        Depositor shall provide, or cause to be provided, to the Trustee within 10
        days
        after the Closing Date all information or data that the Trustee requests
        in
        writing and determines to be relevant for tax purposes to the valuations
        and
        offering prices of the Certificates, including, without limitation, the price,
        yield, prepayment assumption and projected cash flows of the Certificates
        and
        the related Mortgage Loans. Thereafter, the Depositor shall provide to the
        Trustee promptly upon written request therefor, any such additional information
        or data that the Trustee may, from time to time, request in order to enable
        the
        Trustee to perform its duties as set forth herein. The Depositor hereby
        indemnifies the Trustee for any losses, liabilities, damages, claims or expenses
        of the Trustee arising from any errors or miscalculations of the Trustee
        that
        result from any failure of the Depositor to provide, or to cause to be provided,
        accurate information or data to the Trustee on a timely basis.

       

      In
        the
        event that any tax is imposed on “prohibited transactions” of any of REMIC I,
        REMIC II, REMIC III, REMIC IV or REMIC V as defined in Section 860F(a)(2)
        of the
        Code, on the “net income from foreclosure property” of the Trust Fund as defined
        in Section 860G(c) of the Code, on any contribution to any of REMIC I, REMIC
        II,
        REMIC III, REMIC IV or REMIC V after the Startup Day pursuant to Section
        860G(d)
        of the Code, or any other tax is imposed, including, without limitation,
        any
        federal, state or local tax or minimum tax imposed upon any of REMIC I, REMIC
        II, REMIC III, REMIC IV or REMIC V and is not paid as otherwise provided
        for
        herein, such tax shall be paid by (i) the Master Servicer or the Trustee,
        if any
        such tax arises out of or results from a breach by the Master Servicer or
        the
        Trustee of any of its obligations under this Agreement, provided, however,
        in no
        event shall the Master Servicer or the Trustee have
        any liability (1) for any action or omission that is taken in accordance
        with
        and compliance with the express terms of, or which is expressly permitted
        by the
        terms of, this Agreement, (2) for any losses other than those arising out
        of a
        negligent performance by the Master Servicer or the Trustee
        of
        its duties and obligations set forth herein, or (3) for any special or
        consequential damages to Certificateholders (in addition to payment of principal
        and interest on the Certificates), (ii) any party hereto (other than the
        Master
        Servicer or
        the Trustee)
        to the extent any such
        tax
        arises out of or results from a breach by such other party of any of its
        obligations under this Agreement or (iii) in all other cases, or in the event
        that any liable party hereto fails to honor its obligations under the preceding
        clauses (i) or (ii), first with amounts otherwise to be distributed to the
        Class
        R Certificateholders, and second with amounts otherwise to be distributed
        to all
        the Holders of the following Certificates in the following order of priority:
        first,
        to
        the
        Class B-4 Certificates, second, to the Class B-3 Certificates, third, to
        the
        Class B-2 Certificates, fourth, to the Class B-1 Certificates, fifth, to
        the
        Class M-4 Certificates, sixth, to the Class M-3 Certificates, seventh, to
        the
        Class M-2 Certificates, eighth, to the Class M-1 Certificates, and ninth,
        to the
        Class A Certificates (pro
        rata
        based on
        the amounts to be distributed). Notwithstanding anything to the contrary
        contained herein, to the extent that such tax is payable by the Holder of
        any
        Certificates, the Trustee is hereby authorized to retain on any Distribution
        Date, from the Holders of the Class R Certificates (and, if necessary, second,
        from the Holders of the other Certificates in the priority specified in the
        preceding sentence), funds otherwise distributable to such Holders in an
        amount
        sufficient to pay such tax. The
        Trustee
        shall
        include in its Remittance Report instructions as to distributions to such
        parties taking into account the priorities described in the second preceding
        sentence. The
        Trustee shall promptly notify in writing the party liable for any such tax
        of
        the amount thereof and the due date for the payment thereof.

       

      The
        Trustee agrees that, in the event it should obtain any information necessary
        for
        the other party to perform its obligations pursuant to this Section 10.12,
        it
        will promptly notify and provide such information to such other party.

      

      Notwithstanding
        any other provision of this Agreement, the Trustee shall comply with all
        federal
        withholding requirements respecting payments to Certificateholders of interest
        or original issue discount that the Trustee reasonably believes are applicable
        under the Code. The consent of Certificateholders shall not be required for
        such
        withholding. In the event the Trustee does withhold any amount from interest
        or
        original issue discount payments or advances thereof to any Certificateholder
        pursuant to federal withholding requirements, the Trustee shall indicate
        the
        amount withheld to such Certificateholders.

        

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ARTICLE
        XI

      
 

      TERMINATION

       

      Section
        11.01  Termination
        upon Liquidation or Repurchase of all Mortgage Loans.

       

      Subject
        to Section 11.03, the obligations and responsibilities of the Depositor,
        the
        Master Servicer, the Seller
        and
        the
        Trustee created hereby with respect to the Trust Fund shall terminate upon
        the
        earlier of (a) the exercise of the Majority Class C Certificateholder (or
        its
        designee) of its right to repurchase all of the Mortgage Loans (and REO
        Properties) remaining in the Trust Fund at a price (the “Mortgage Loan Purchase
        Price”) equal to the sum of (i) 100% of the Stated Principal Balance of each
        Mortgage Loan (other than in respect of REO Property), (ii) accrued interest
        thereon at the applicable Mortgage Rate to, but not including, the first
        day of
        the month of such purchase, (iii) the appraised value of any REO Property
        in the
        Trust Fund (up to the Stated Principal Balance of the related Mortgage Loan),
        such appraisal to be conducted by an appraiser mutually agreed upon by the
        Master Servicer and the Trustee, and (iv) unreimbursed out-of pocket costs
        of
        the Master Servicer, including unreimbursed servicing advances and the principal
        portion of any unreimbursed Advances, made on the Mortgage Loans prior to
        the
        exercise of such repurchase right, (v) any unreimbursed costs and expenses
        of
        the Trustee payable pursuant to Section 10.05 or of the Custodian pursuant
        to
        the Custodial Agreement, and (b) the later of (i) the maturity or other
        liquidation (or any Advance with respect thereto) of the last Mortgage Loan
        remaining in the Trust Fund and the disposition of all REO Property and (ii)
        the
        distribution to Certificateholders of all amounts required to be distributed
        to
        them pursuant to this Agreement, as applicable. In no event shall the trusts
        created hereby continue beyond the earlier of (i) 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, living on
        the
        date hereof and (ii) the Latest Possible Maturity Date.

       

      The
        right
        to repurchase all Mortgage Loans and REO Properties by the Majority Class
        C
        Certificateholder pursuant to clause (a) in the preceding paragraph shall
        be
        conditioned upon the Stated Principal Balance of all of the Mortgage Loans
        in
        the Trust Fund, at the time of any such repurchase, aggregating 20% or less
        of
        the aggregate Cut-off Date Principal Balance of all of the Mortgage Loans.
        

       

      Section
        11.02  Final
        Distribution on the Certificates.

       

      If
        on any
        Determination Date, (i) the Master Servicer determines that there are no
        Outstanding Mortgage Loans and no other funds or assets in the Trust Fund
        other
        than the funds in the Distribution Account, the Master Servicer shall
        direct
        the
Trustee
        to send a final distribution notice promptly to each Certificateholder or
        (ii)
        the Trustee determines that a Class of Certificates shall be retired after
        a
        final distribution on such Class, the Trustee
        shall
        notify the Certificateholders within five (5) Business Days after such
        Determination Date that the final distribution in retirement of such Class
        of
        Certificates is scheduled to be made on the immediately following Distribution
        Date. Any final
        distribution made pursuant to the immediately preceding sentence will be
        made
        only upon presentation
        and
        surrender of the Certificates at the Corporate Trust Office of the Trustee.
        If
        the Majority Class C Certificateholder elects to terminate the Trust Fund
        pursuant to Section 11.01, at least 20 days prior to the date notice is to
        be
        mailed to the Certificateholders, the Majority Class C Certificateholder
        shall
        notify the Depositor and the Trustee of the date the Majority Class C
        Certificateholder intends to terminate the Trust Fund. The Majority Class
        C
        Certificateholder shall remit the Mortgage Loan Purchase Price to the Trustee
        on
        the Business Day prior to the Distribution Date for such Optional Termination
        by
        the Majority Class C Certificateholder.

       

      Notice
        of
        any termination of the Trust Fund, specifying the Distribution Date on which
        Certificateholders may surrender their Certificates for payment of the final
        distribution and cancellation, shall be given promptly by the Trustee by
        letter
        to Certificateholders mailed not later than two Business Days after the
        Determination Date in the month of such final distribution. Any such notice
        shall specify (a) the Distribution Date upon which final distribution on
        the
        Certificates will be made upon presentation and surrender of Certificates
        at the
        office therein designated, (b) the amount of such final distribution, (c)
        the
        location of the office or agency at which such presentation and surrender
        must
        be made and (d) 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 therein specified. The Trustee
        will
        give such notice to each Rating Agency at the time such notice is given to
        Certificateholders.

       

      Upon
        such
        final deposit with respect to the Trust Fund and the receipt by the Custodian
        of
        a Request for Release therefor, the Custodian shall promptly release to the
        Master Servicer, as applicable the Mortgage Files for the Mortgage Loans
        and the
        Trustee shall execute and deliver any documents prepared and delivered to
        it
        which are necessary to transfer any REO Property.

       

      Upon
        presentation and surrender of the Certificates, the Trustee shall distribute
        to
        Certificateholders of each Class the amounts allocable to such Certificates
        held
        in the Distribution Account in the order and priority set forth in Section
        5.04
        hereof on the final Distribution Date and in proportion to their respective
        Percentage Interests.

       

      In
        the
        event that any affected Certificateholders shall not surrender Certificates
        for
        cancellation within six months after the date specified in the above mentioned
        written notice, 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 six months after the
        second notice all the applicable Certificates shall not have been surrendered
        for cancellation, the Trustee may take appropriate steps, or may appoint
        an
        agent to take appropriate steps, to contact the remaining Certificateholders
        concerning surrender of their Certificates, and the cost thereof shall be
        paid
        out of the funds and other assets that remain a part of the Trust Fund. If
        within one year after the second notice all Certificates shall not have been
        surrendered for cancellation, the Class R Certificateholders shall be entitled
        to all unclaimed funds and other assets of the Trust Fund that remain subject
        hereto.

       

      Section
        11.03  Additional
        Termination Requirements. 

       

      (a)  Upon
        exercise by the Majority Class C Certificateholder of its purchase option
        as
        provided in Section 11.01, the Trust Fund shall be terminated in accordance
        with
        the following additional requirements, unless the Trustee has been supplied
        with
        an Opinion of Counsel addressed to the Trustee at the expense of the Majority
        Class C Certificateholder to the effect that the failure of the Trust Fund
        to
        comply with the requirements of this Section 11.03 will not (i) result in
        the
        imposition of taxes on “prohibited transactions” of a REMIC, or (ii) cause a
        REMIC to fail to qualify as a REMIC at any time that any Certificates are
        outstanding:

       

      (1) The
        Majority Class C Certificateholder shall establish a 90-day liquidation period
        and notify the Trustee thereof, and the Trustee shall in turn specify the
        first
        day of such period in a statement attached to the tax return for each of
        REMIC
        I, REMIC II, REMIC III, REMIC IV and REMIC V pursuant to Treasury Regulation
        Section 1.860F-1. The Majority Class C Certificateholder shall satisfy all the
        requirements of a qualified liquidation under Section 860F of the Code and
        any
        regulations thereunder, as evidenced by an Opinion of Counsel addressed to
        the
        Trustee obtained at the expense of the Majority Class C
        Certificateholder;

       

      (2) During
        such 90-day liquidation period, and at or prior to the time of making the
        final
        payment on the Certificates, the Trustee shall sell all of the assets of
        REMIC I
        for cash; and

       

      (3) At
        the
        time of the making of the final payment on the Certificates, the Trustee
        shall
        distribute or credit, or cause to be distributed or credited, to the Holders
        of
        the Residual Certificates, all cash on hand (other than cash retained to
        meet
        claims), and REMIC I shall terminate at that time.

       

      (b)  By
        their
        acceptance of the Certificates, the Holders thereof hereby authorize the
        adoption of a 90-day liquidation period and the adoption of a plan of complete
        liquidation for each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC
        V,
        which authorization shall be binding upon all successor
        Certificateholders.

       

      (c)  The
        Trustee as agent for each REMIC hereby agrees to adopt and sign such a plan
        of
        complete liquidation meeting the requirements for a qualified liquidation
        under
        Section 860F of the Code and any regulations thereunder upon the written
        request
        of the Majority Class C Certificateholder and the receipt of the Opinion
        of
        Counsel referred to in Section 11.03(a)(1) and to take such other action
        in
        connection therewith as may be reasonably requested by the Majority Class
        C
        Certificateholder.

       

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      ARTICLE
        XII

      
 

      MISCELLANEOUS
        PROVISIONS

       

      Section
        12.01  Amendment. 

       

      This
        Agreement may be amended from time to time by parties hereto without the
        consent
        of any of the Certificateholders to cure any ambiguity, to correct or supplement
        any provisions herein (including to give effect to the expectations of
        investors), to comply with any changes in the Code, to revise any provisions
        to
        reflect the obligations of the parties to this Agreement as they relate to
        Regulation AB, to change the manner in which the Distribution Account maintained
        by the Trustee or the Protected Account maintained by the Master Servicer
        is
        maintained or to make such other provisions with respect to matters or questions
        arising under this Agreement as shall not be inconsistent with any other
        provisions herein if such action shall not, as evidenced by an Opinion of
        Counsel addressed to the Trustee, adversely affect in any material respect
        the
        interests of any Certificateholder; provided that any such amendment shall
        be
        deemed not to adversely affect in any material respect the interests of the
        Certificateholders and no such Opinion of Counsel shall be required if the
        Person requesting such amendment obtains a letter from each Rating Agency
        stating that such amendment would not result in the downgrading or withdrawal
        of
        the respective ratings then assigned to the Certificates.

       

      Notwithstanding
        the foregoing, without the consent of the Certificateholders, the parties
        hereto
        may at any time and from time to time amend this Agreement to modify, eliminate
        or add to any of its provisions to such extent as shall be necessary or
        appropriate to maintain the qualification of each of REMIC I, REMIC II, REMIC
        III, REMIC IV or REMIC V, as a REMIC under the Code or to avoid or minimize
        the
        risk of the imposition of any tax on any of REMIC I, REMIC II, REMIC III,
        REMIC
        IV or REMIC V pursuant to the Code that would be a claim against any of REMIC
        I,
        REMIC II, REMIC III, REMIC IV or REMIC V at any time prior to the final
        redemption of the Certificates, provided that the Trustee has been provided
        an
        Opinion of Counsel addressed to the Trustee, which opinion shall be an expense
        of the party requesting such opinion but in any case shall not be an expense
        of
        the Trustee or the Trust Fund, to the effect that such action is necessary
        or
        appropriate to maintain such qualification or to avoid or minimize the risk
        of
        the imposition of such a tax.

       

      This
        Agreement may also be amended from time to time by the parties hereto with
        the
        consent of the Holders of the Certificates evidencing over 50% of the aggregate
        Certificate Principal Balance of the Certificates, or the Holders of each
        Class
        of Certificates affected thereby, as applicable, 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
        that no such amendment shall (i) reduce in any manner the amount of, or delay
        the timing of, payments required to be distributed on any Certificate without
        the consent of the Holder of such Certificate, (ii) cause any of REMIC I,
        REMIC
        II, REMIC III, REMIC IV or REMIC V to cease to qualify as a REMIC or (iii)
        reduce the aforesaid percentages of Certificates the Holders of which are
        required to consent to any such amendment without the consent of the Holders
        of
        all Certificates then outstanding.

       

      Notwithstanding
        any contrary provision of this Agreement, the Trustee shall not consent to
        any
        amendment to this Agreement unless it shall have first received an Opinion
        of
        Counsel addressed to the Trustee, which opinion shall be an expense of the
        party
        requesting such amendment but in any case shall not be an expense of the
        Trustee, to the effect that such amendment will not (other than an amendment
        pursuant to clause (ii) of, and in accordance with, the preceding paragraph)
        cause the imposition of any tax on REMIC I, REMIC II, REMIC III, REMIC IV
        or
        REMIC V or the Certificateholders or cause REMIC I, REMIC II, REMIC III,
        REMIC
        IV or REMIC V to cease to qualify as a REMIC at any time that any Certificates
        are outstanding. Further, nothing in this Agreement shall require the Trustee
        to
        enter into an amendment without receiving an Opinion of Counsel, satisfactory
        to
        the Trustee (i) that such amendment is permitted and is not prohibited by
        this
        Agreement and (ii) that all requirements for amending this Agreement (including
        any consent of the applicable Certificateholders) have been complied
        with.

       

      Promptly
        after the execution of any amendment to this Agreement requiring the consent
        of
        Certificateholders, the Trustee shall furnish written notification of the
        substance of such amendment to each Certificateholder and each Rating
        Agency.

       

      It
        shall not be necessary for the consent of Certificateholders under this Section
        to approve the particular form of any proposed amendment, but 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.

       

      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 of 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. The Master Servicer shall effect such recordation at the Trust’s
        expense upon the request in writing of a Certificateholder, but only if such
        direction is accompanied by an Opinion of Counsel (provided at the expense
        of
        the Certificateholder requesting recordation) to the effect that such
        recordation would materially and beneficially affect the interests of the
        Certificateholders or is required by law.

       

      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 constitute but one and the same
        instrument.

       

      Section
        12.03  Governing
        Law. 

       

      THIS
        AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE SUBSTANTIVE
        LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED
        IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
        PARTIES
        HERETO AND THE CERTIFICATEHOLDERS SHALL BE DETERMINED IN ACCORDANCE WITH
        SUCH
        LAWS WITHOUT REGARD TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF (OTHER THAN
        SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAWS).

       

      Section
        12.04  Intention
        of Parties. 

       

      It
        is the
        express intent of the parties hereto that the conveyance of the Mortgage
        Notes,
        Mortgages, assignments of Mortgages, title insurance policies and any
        modifications, extensions and/or assumption agreements and private mortgage
        insurance policies relating to the Mortgage Loans by the Seller to the
        Depositor, and by the Depositor to the Trustee be, and be construed as, an
        absolute sale thereof to the Depositor or the Trustee, as applicable. It
        is,
        further, not the intention of the parties that such conveyance be deemed
        a
        pledge thereof by the Seller to the Depositor, or by the Depositor to the
        Trustee. However, in the event that, notwithstanding the intent of the parties,
        such assets are held to be the property of the Seller or the Depositor, as
        applicable, or if for any other reason the Mortgage Loan Purchase Agreement
        or
        this Agreement is held or deemed to create a security interest in such assets,
        then (i) the Mortgage Loan Purchase Agreement and this Agreement shall each
        be
        deemed to be a security agreement within the meaning of the Uniform Commercial
        Code of the State of New York and (ii) the conveyance provided for in the
        Mortgage Loan Purchase Agreement from the Seller to the Depositor, and the
        conveyance provided for in this Agreement from the Depositor to the Trustee,
        shall be deemed to be an assignment and a grant by the Seller or the Depositor,
        as applicable, for the benefit of the Certificateholders, of a security interest
        in all of the assets that constitute the Trust Fund, whether now owned or
        hereafter acquired.

       

      The
        Depositor for the benefit of the Certificateholders shall, to the extent
        consistent with this Agreement, take such actions as may be necessary to
        ensure
        that, if this Agreement were deemed to create a security interest in the
        assets
        of the Trust Fund, such security interest would be deemed to be a perfected
        security interest of first priority under applicable law and shall be maintained
        as such throughout the term of the Agreement.

       

      Section
        12.05  Notices. 

       

      (a)  The
        Trustee shall use its best efforts to promptly provide notice to each Rating
        Agency with respect to each of the following of which a Responsible Officer
        of
        the Trustee has actual knowledge:

       

      (i)  Any
        material change or amendment to this Agreement;

       

      (ii)  The
        occurrence of any Event of Default that has not been cured;

       

      (iii)  The
        resignation or termination of the Master Servicer or the Trustee and the
        appointment of any successor;

       

      (iv)  The
        repurchase or substitution of Mortgage Loans pursuant to Sections 2.02, 2.03,
        3.19 and 11.01; and

       

      (v)  The
        final
        payment to Certificateholders.

       

      (b)  All
        directions, demands and notices hereunder shall be in writing and shall be
        deemed to have been duly given when delivered at or mailed by registered
        mail,
        return receipt requested, postage prepaid, or by recognized overnight courier,
        or by facsimile transmission to a number provided by the appropriate party
        if
        receipt of such transmission is confirmed to (i) in the case of the Depositor,
        Bear Stearns Asset Backed Securities I LLC, 383 Madison Avenue, New York,
        New
        York 10179, Attention: Chief Counsel, and with respect to Regulation AB
        notifications to the Depositor at regabnotifications@bear.com; (ii) in the
        case
        of the Seller or the Master Servicer, EMC Mortgage Corporation, EMC Mortgage
        Corporation, 2780 Lake Vista Drive, Lewisville, Texas 75067 (Facsimile: (469)
        759-4714), attention: President or General Counsel or such other address
        as may
        be hereafter furnished to the other parties hereto by the Master Servicer
        in
        writing; (iii) in the case of the Trustee, P. O. Box 98, Columbia, Maryland
        21046 (or, for overnight deliveries, 9062 Old Annapolis Road, Columbia, Maryland
        21045), Attention: BSMF 2006-AC1 or such other address as may be hereafter
        furnished to the other parties hereto by the Trustee in writing and (iv)
        in the
        case of the Rating Agencies, (x) Moody’s Investors Service, Inc., 99 Church
        Street, New York, New York 10007, Attention: Home Equity Monitoring and (y)
        Standard & Poor’s, 55 Water Street, 41st Floor, New York, New York 10041,
        Attention: Mortgage Surveillance Group. Any notice delivered to the Seller,
        the
        Master Servicer or the Trustee under this Agreement shall be effective only
        upon
        receipt. Any notice required or permitted to be mailed to a Certificateholder,
        unless otherwise provided herein, shall be given by first-class mail, postage
        prepaid, at the address of such Certificateholder as shown in the Certificate
        Register; any notice so mailed within the time prescribed in this Agreement
        shall be conclusively presumed to have been duly given, whether or not the
        Certificateholder receives such notice.

       

      Section
        12.06  Severability
        of Provisions. 

       

      If
        any
        one or more of the covenants, agreements, provisions or terms of this Agreement
        shall be for any reason whatsoever 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  Assignment. 

       

      Notwithstanding
        anything to the contrary contained herein, except as provided pursuant to
        Section 8.07, this Agreement may not be assigned by the Master Servicer,
        the
        Seller or the Depositor.

       

      Section
        12.08  Limitation
        on Rights of Certificateholders. 

       

      The
        death
        or incapacity of any Certificateholder shall not operate to terminate this
        Agreement or the Trust Fund, nor entitle such Certificateholder’s legal
        representative or heirs to claim an accounting or to take any action or commence
        any proceeding in any court for a petition or winding up of the Trust Fund,
        or
        otherwise affect the rights, obligations and liabilities of the parties hereto
        or any of them.

       

      No
        Certificateholder shall have any right to vote (except as provided herein)
        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 party
        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 or by availing itself of
        any
        provisions 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 an
        Event
        of Default and of the continuance thereof, as hereinbefore provided, the
        Holders
        of Certificates evidencing not less than 25% of the Voting Rights evidenced
        by
        the Certificates shall also have made written request to 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 60 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; it being understood and intended, and being
        expressly covenanted by each Certificateholder with every other
        Certificateholder and the Trustee, that no one or more Holders of Certificates
        shall have any right in any manner whatever by virtue or by availing itself
        or
        themselves of any provisions of this Agreement to affect, disturb or prejudice
        the rights of the Holders of any other of the Certificates, or to obtain
        or seek
        to obtain priority over or preference to any other such Holder or to enforce
        any
        right under this Agreement, except in the manner herein provided and for
        the
        common benefit of all Certificateholders. For the protection and enforcement
        of
        the provisions of this Section 12.08, each and every Certificateholder, the
        Trustee shall be entitled to such relief as can be given either at law or
        in
        equity.

       

      Section
        12.09  Inspection
        and Audit Rights. 

       

      The
        Master Servicer agrees that, on reasonable prior notice, it will permit any
        representative of the Depositor or the Trustee during the Master Servicer’s
        normal business hours, to examine all the books of account, records, reports
        and
        other papers of the Master Servicer relating to the Mortgage Loans, to make
        copies and extracts therefrom, to cause such books to be audited by independent
        certified public accountants selected by the Depositor or the Trustee and
        to
        discuss its affairs, finances and accounts relating to such Mortgage Loans
        with
        its officers, employees and independent public accountants (and by this
        provision the Master Servicer hereby authorizes such accountants to discuss
        with
        such representative such affairs, finances and accounts), all at such reasonable
        times and as often as may be reasonably requested. Any out-of-pocket expense
        incident to the exercise by the Depositor or the Trustee of any right under
        this
        Section 12.09 shall be borne by the party requesting such inspection, subject
        to
        such party’s right to reimbursement hereunder (in the case of the Trustee,
        pursuant to Section 10.05 hereof).

       

      Section
        12.10  Certificates
        Nonassessable and Fully Paid. 

       

      It
        is the intention of the Depositor that Certificateholders shall not be
        personally liable for obligations of the Trust Fund, that the interests in
        the
        Trust Fund represented by the Certificates shall be nonassessable for any
        reason
        whatsoever, and that the Certificates, upon due authentication thereof by
        the
        Trustee pursuant to this Agreement, are and shall be deemed fully
        paid.

       

      * * *

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the Depositor, the Seller, the Master Servicer and the Trustee
        have caused their names to be signed hereto by their respective officers
        thereunto duly authorized as of the day and year first above
        written.

       

      
        	
                BEAR
                  STEARNS ASSET BACKED SECURITIES
                  I LLC,

                as
                  Depositor

              
	 	 
	
                By:

              	
                /s/
                  Baron Silverstein

              
	
                Name:

              	
                Baron
                  Silverstein

              
	
                Title:

              	
                Vice
                  President

              
	 
	 
	
                EMC
                  MORTGAGE CORPORATION,

                as
                  Seller and Master Servicer

              
	 	 
	
                By:

              	
                /s/
                  Sue Stepanek 

              
	
                Name:

              	
                Sue
                  Stepanek

              
	
                Title:

              	
                Executive
                  Vice President

              
	 
	 
	
                WELLS
                  FARGO BANK, NATIONAL ASSOCIATION,

                as
                  Trustee

              
	 	 
	
                By:

              	/s/
                Jennifer L. Richardson 
	
                Name:

              	Jennifer
                L.
                Richardson
	
                Title:

              	Assistant
                Vice
                President

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                STATE
                  OF NEW YORK

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF NEW YORK

              	
                )

              	 

      

      

      On
        this 31st day of July, 2006, before me, a notary public in and for said State,
        appeared Baron Silverstein, personally known to me on the basis of satisfactory
        evidence to be an authorized representative of Bear Stearns Asset Backed
        Securities I LLC, one of the companies that executed the within instrument,
        and
        also known to me to be the person who executed it on behalf of such limited
        liability company and acknowledged to me that such limited liability company
        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

              

      

      

      

      

      [Notarial
        Seal]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                STATE
                  OF TEXAS

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF DALLAS

              	
                )

              	 

      

      

      

      On
        this 31st day of July, 2006, before me, a notary public in and for said State,
        appeared ________________________, personally known to me on the basis of
        satisfactory evidence to be an authorized representative of EMC Mortgage
        Corporation, one of the corporations that executed the within instrument,
        and
        also known to me to be the person who executed it on behalf of such 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

              

      

      

      

      

      [Notarial
        Seal]

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                STATE
                  OF MARYLAND

              	
                )

              	 
	 	
                )

              	
                ss.:

              
	
                COUNTY
                  OF BALTIMORE

              	
                )

              	 

      

      

      On
        this 31st day of July, 2006, before me, a notary public in and for said State,
        appeared ____________________, personally known to me on the basis of
        satisfactory evidence to be an authorized representative of Wells Fargo Bank,
        National Association that executed the within instrument, and also known
        to me
        to be the person who executed it on behalf of such national banking association,
        and acknowledged to me that such national banking association 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

              

      

      

      

      

      [Notarial
        Seal]

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
 

    EXHIBIT
      A-1

    

    FORM
      OF CLASS A CERTIFICATES

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

     

    [FOR
      CLASS A-1, CLASS A-2 AND CLASS A-3] CERTIFICATE PRINCIPAL BALANCE OF THIS
      CERTIFICATE WILL BE DECREASED BY THE PRINCIPAL PAYMENTS HEREON AND REALIZED
      LOSSES ALLOCABLE HERETO AS DESCRIBED IN THE AGREEMENT. ACCORDINGLY, FOLLOWING
      THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CERTIFICATE PRINCIPAL BALANCE
      OF
      THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE
      ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CERTIFICATE PRINCIPAL BALANCE
      BY
      INQUIRY OF THE TRUSTEE NAMED HEREIN.

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
      CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
      OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
      TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
      IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Certificate
                No.1

            	
              [Pass-Through
                Rate: [ ]]

            
	 	 
	
               

              Class
                A-[1][2][3][4] Senior

            	 
	 	 
	
               

              Date
                of Pooling and Servicing Agreement and Cut-off Date:

              July
                1, 2006

            	
               

              Aggregate
                Initial Certificate [Principal Balance] [Notional Amount] of this
                Certificate as of the Cut-off Date:

              $[_____________]

            
	 	 
	
               

              First
                Distribution Date:

              August
                25, 2006

            	
               

              Initial
                Certificate [Principal Balance] [Notional Amount] of this Certificate
                as
                of the Cut-off Date: $[_____________]

            
	 	 
	
               

              Master
                Servicer:

              EMC
                Mortgage Corporation

            	
               

              CUSIP:
                [___________]

            
	 	 
	
               

              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

     

    ASSET-BACKED
      CERTIFICATE

     

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class A-[1][2][3][4]
      Certificates with respect to a Trust Fund consisting primarily of a pool of
      conventional, one- to four-family, fixed interest rate mortgage loans sold
      by
      BEAR STEARNS ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that Cede & Co. is the registered owner of the Percentage Interest
      evidenced hereby in the beneficial ownership interest of Certificates of the
      same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    [For
      Class A-1 and Class A-2] Interest on this Certificate will accrue during the
      month prior to the month in which a Distribution Date (as hereinafter defined)
      occurs on the Certificate Principal Balance hereof at a per annum rate equal
      to
      the Pass-Through Rate set forth above. The Trustee will distribute on the 25th
      day of each month, or, if such 25th day is not a Business Day, the immediately
      following Business Day (each, a “Distribution Date”), commencing on the First
      Distribution Date specified above, to the Person in whose name this Certificate
      is registered at the close of business on the last Business Day of the calendar
      month immediately preceding the month in which the Distribution Date occurs,
      an
      amount equal to the product of the Percentage Interest evidenced by this
      Certificate and the amount (of interest and principal, if any) required to
      be
      distributed to the Holders of Certificates of the same Class as this
      Certificate. The Assumed Final Distribution Date is the Distribution Date in
      the
      month following the latest scheduled maturity date of any Mortgage Loan and
      is
      not likely to be the date on which the Certificate Principal Balance of this
      Class of Certificates will be reduced to zero.

     

    [For
      Class A-3 and A-4] [Interest on this Certificate will accrue from and including
      the 25th day of the calendar month preceding the month in which a Distribution
      Date (as hereinafter defined) occurs to and including the 24th day of the
      calendar month in which that Distribution Date occurs on the Certificate
      [Principal Balance] [Notional Amount] hereof at a per annum rate equal to the
      Pass-Through Rate set forth above. The Trustee will distribute on the 25th
      day
      of each month, or, if such 25th day is not a Business Day, the immediately
      following Business Day (each, a “Distribution Date”), commencing on the First
      Distribution Date specified above, to the Person in whose name this Certificate
      is registered at the close of business on the Business Day immediately preceding
      such Distribution Date, an amount equal to the product of the Percentage
      Interest evidenced by this Certificate and the amount (of interest and
      principal, if any) required to be distributed to the Holders of Certificates
      of
      the same Class as this Certificate. The Assumed Final Distribution Date is
      the
      Distribution Date in the month following the latest scheduled maturity date
      of
      any Mortgage Loan and is not likely to be the date on which the Certificate
      [Principal Balance] [Notional Amount] of this Class of Certificates will be
      reduced to zero. [The Class A-4 Certificates have no Certificate Principal
      Balance.]

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. The Initial Certificate [Principal
      Balance] [Notional Amount] of this Certificate is set forth above. [The
      Certificate Principal Balance hereof will be reduced to the extent of
      distributions allocable to principal hereon and any Realized Losses allocable
      thereto.] [For
      Class A-4]
      [The
      Initial Notional Amount of this Certificate is set forth above.]

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of Depositor, the Master Servicer, the Trustee
      or any such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate
      to be duly executed.

    

    
      	
              Dated:
                July 31, 2006

            	 	 	 	
              WELLS
                FARGO BANK, NATIONAL
                ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            
	 	 	 	 	 	 	 	 	 

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Class
      A-[1][2][3][4] Certificates referred to in the within-mentioned
      Agreement.

    

    
      	 	 	 	 	 	 	 	
              WELLS
                FARGO BANK, NATIONAL
                ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            
	 	 	 	 	 	 	 	 	 

    

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-2

    

    FORM
      OF CLASS M CERTIFICATES

     

    THIS
      CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES
      [,]
      [AND] [CLASS M-1 CERTIFICATES] [,] [AND] [CLASS M-2 CERTIFICATES] [AND] [CLASS
      M-3 CERTIFICATES] AS DESCRIBED IN THE AGREEMENT (AS DEFINED
      BELOW).

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

     

    THE
      CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
      PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO AS DESCRIBED
      IN
      THE AGREEMENT. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES,
      THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DIFFERENT FROM
      THE
      DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS
      CERTIFICATE PRINCIPAL BALANCE BY INQUIRY OF THE TRUSTEE NAMED
      HEREIN.

     

    UNLESS
      THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
      TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF TRANSFER,
      EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
      CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
      OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY
      TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
      IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
      HEREIN.

     

    EACH
      HOLDER OF A CERTIFICATE OR BENEFICIAL OWNERSHIP SHALL BE DEEMED TO HAVE MADE
      THE
      REPRESENTATIONS SET FORTH IN SECTION 7.02(b) OF THE
      AGREEMENT.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

              Certificate
                No.1

            	
               

              Adjustable
                Pass-Through Rate

            
	 	 
	
               

              Class
                M-[1][2][3][4] Subordinate

            	 
	 	 
	
               

              Date
                of Pooling and Servicing Agreement and Cut-off Date:

              July
                1, 2006

            	
               

              Aggregate
                Initial Certificate Principal Balance of this Certificate as of the
                Cut-off Date:

              $[________________]

            
	 	 
	
               

              First
                Distribution Date:

              August
                25, 2006

            	
               

              Initial
                Certificate Principal Balance of this Certificate as of the Cut-off
                Date:
                

              $[________________]

            
	 	 
	
               

              Master
                Servicer:

              EMC
                Mortgage Corporation

            	
               

              CUSIP:
                [_______________]

            
	 	 
	
               

              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

    

    ASSET-BACKED
      CERTIFICATE

    

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class M-[1][2][3][4]
      Certificates with respect to a Trust Fund consisting primarily of a pool of
      conventional, one- to four-family, fixed interest rate mortgage loans sold
      by
      BEAR STEARNS ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that Cede & Co. is the registered owner of the Percentage Interest
      evidenced hereby in the beneficial ownership interest of Certificates of the
      same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    Interest
      on this Certificate will accrue from and including the 25th day of the calendar
      month preceding the month in which a Distribution Date (as hereinafter defined)
      occurs (or, with respect to the first accrual period, the Closing Date) to
      and
      including the 24th day of the calendar month in which that Distribution Date
      occurs on the Certificate Principal Balance hereof at a per annum rate equal
      to
      the Pass-Through Rate set forth above and as further described in the Agreement.
      The Trustee will distribute on the 25th day of each month, or, if such 25th
      day
      is not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
      to the Person in whose name this Certificate is registered at the close of
      business on the Business Day immediately preceding such Distribution Date,
      an
      amount equal to the product of the Percentage Interest evidenced by this
      Certificate and the amount (of interest and principal, if any) required to
      be
      distributed to the Holders of Certificates of the same Class as this
      Certificate. The Assumed Final Distribution Date is the Distribution Date in
      the
      month following the latest scheduled maturity date of any Mortgage Loan and
      is
      not likely to be the date on which the Certificate Principal Balance of this
      Class of Certificates will be reduced to zero.

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. The Initial Certificate Principal Balance
      of this Certificate is set forth above. The Certificate Principal Balance hereof
      will be reduced to the extent of distributions allocable to principal hereon
      and
      any Realized Losses allocable thereto.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    Each
      holder of a Certificate or beneficial ownership shall be deemed to have made
      the
      representations set forth in section 7.02(b) of the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of Depositor, the Master Servicer, the Trustee
      or any such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
      executed.

    

    
      	
              Dated:
                July 31, 2006

            	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Class M-[1][2][3][4] Certificates referred to in the within-mentioned
      Agreement.

    

    
      	 	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION, as Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-3

    

    FORM
      OF CLASS B CERTIFICATES

     

    THIS
      CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES
      [,]
      [AND] [CLASS M-1 CERTIFICATES] [,] [AND] [CLASS M-2 CERTIFICATES] [,] [AND]
      [CLASS M-3 CERTIFICATES] [,] [AND] [CLASS M-4 CERTIFICATES] [,] [AND] [CLASS
      B-1
      CERTIFICATES] [,] [AND] [CLASS B-2 CERTIFICATES] [AND] [CLASS B-3 CERTIFICATES]
      AS DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW).

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

     

    THE
      CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
      PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO AS DESCRIBED
      IN
      THE AGREEMENT. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES,
      THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DIFFERENT FROM
      THE
      DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS
      CERTIFICATE PRINCIPAL BALANCE BY INQUIRY OF THE TRUSTEE NAMED
      HEREIN.

     

    [For
      Class B-1, Class B-2 and Class B-3] UNLESS THIS CERTIFICATE IS PRESENTED BY
      AN
      AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE DEPOSITOR
      OR
      ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
      ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS
      REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND
      ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF
      FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
      OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

     

    [For
      Class B-1, Class B-2 and Class B-3] EACH HOLDER OF A CERTIFICATE OR BENEFICIAL
      OWNERSHIP SHALL BE DEEMED TO HAVE MADE THE REPRESENTATIONS SET FORTH IN SECTION
      7.02(b) OF THE AGREEMENT.

     

    [For
      Class B-4] [THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
      THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES
      LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS
      CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
      IN
      COMPLIANCE WITH THE ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO
      RULE
      144A UNDER THE ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES
      IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”),
      PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB,
      WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE
      OR
      OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN
      EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE ACT (IF AVAILABLE)
      OR
      (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE
      MEANING THEREOF IN RULE 501(a)(1), (2),(3) OR (7) (OR ANY ENTITY IN WHICH ALL
      OF
      THE EQUITY HOLDERS COME WITHIN SUCH PARAGRAPHS) OF REGULATION D UNDER THE ACT
      PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE ACT, SUBJECT TO (A) THE
      RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE
      AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF AN OPINION OF COUNSEL AS TO
      COMPLIANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES. THIS
      CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF,
      AN
      EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE
      I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION
      4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE
      CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE
      AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I)
      WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN
      INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED
      TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE
      90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL
      OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE,
      WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR
      A
      GLOBAL CERTIFICATE, OR PROVIDES AN OPINION OF COUNSEL TO SUCH
      EFFECT.]

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

              Certificate
                No.1

            	
               

              Adjustable
                Pass-Through Rate

            
	 	 
	
               

              Class
                B-[1][2][3][4] Subordinate

            	 
	 	 
	
               

              Date
                of Pooling and Servicing Agreement and Cut-off Date:

              July
                1, 2006

            	
               

              Aggregate
                Initial Certificate Principal Balance of this Certificate as of the
                Cut-off Date:

              $[________________]

            
	 	 
	
               

              First
                Distribution Date:

              August
                25, 2006

            	
               

              Initial
                Certificate Principal Balance of this Certificate as of the Cut-off
                Date:
                

              $[________________]

            
	 	 
	
               

              Master
                Servicer:

              EMC
                Mortgage Corporation

            	
               

              CUSIP:
                [_______________]

            
	 	 
	
               

              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

    

    ASSET-BACKED
      CERTIFICATE

    

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class B-[1][2][3][4]
      Certificates with respect to a Trust Fund consisting primarily of a pool of
      conventional, one- to four-family, fixed interest rate mortgage loans sold
      by
      BEAR STEARNS ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that ___________ is the registered owner of the Percentage Interest
      evidenced hereby in the beneficial ownership interest of Certificates of the
      same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    [For
      Class B-1, Class B-2, and Class B-3] [Interest on this Certificate will accrue
      from and including the 25th day of the calendar month preceding the month in
      which a Distribution Date (as hereinafter defined) occurs (or, with respect
      to
      the first accrual period, the Closing Date) to and including the 24th day of
      the
      calendar month in which that Distribution Date occurs on the Certificate
      Principal Balance hereof at a per annum rate equal to the Pass-Through Rate
      set
      forth above and as further described in the Agreement. The Trustee will
      distribute on the 25th day of each month, or, if such 25th day is not a Business
      Day, the immediately following Business Day (each, a “Distribution Date”),
      commencing on the First Distribution Date specified above, to the Person in
      whose name this Certificate is registered at the close of business on the
      Business Day immediately preceding such Distribution Date, an amount equal
      to
      the product of the Percentage Interest evidenced by this Certificate and the
      amount (of interest and principal, if any) required to be distributed to the
      Holders of Certificates of the same Class as this Certificate. The Assumed
      Final
      Distribution Date is the Distribution Date in the month immediately following
      the month of the latest scheduled maturity date of any Mortgage Loan and is
      not
      likely to be the date on which the Certificate Principal Balance of this Class
      of Certificates will be reduced to zero.]

     

    [For
      Class B-4] [Interest on this Certificate will accrue from and including the
      25th
      day of the calendar month preceding the month in which a Distribution Date
      (as
      hereinafter defined) occurs (or, with respect to the first accrual period,
      the
      Closing Date) to and including the 24th day of the calendar month in which
      that
      Distribution Date occurs on the Certificate Principal Balance hereof at a per
      annum rate equal to the Pass-Through Rate set forth above and as further
      described in the Agreement. The Trustee will distribute on the 25th day of
      each
      month, or, if such 25th day is not a Business Day, the immediately following
      Business Day (each, a “Distribution Date”), commencing on the First Distribution
      Date specified above, to the Person in whose name this Certificate is registered
      at the close of business on the last Business Day of the month immediately
      preceding the month of such Distribution date so long as this Certificate
      remains in non book-entry form (and otherwise, the close of business on the
      Business Day immediately preceding such Distribution Date) an amount equal
      to
      the product of the Percentage Interest evidenced by this Certificate and the
      amount (of interest and principal, if any) required to be distributed to the
      Holders of Certificates of the same Class as this Certificate. The Assumed
      Final
      Distribution Date is the Distribution Date in the month following the latest
      scheduled maturity date of any Mortgage Loan.]

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. The Initial Certificate Principal Balance
      of this Certificate is set forth above. The Certificate Principal Balance hereof
      will be reduced to the extent of distributions allocable to principal hereon
      and
      any Realized Losses allocable hereto.

     

    [For
      Class B-4] [No transfer of this Class B-4 Certificate will be made unless such
      transfer is (i) exempt from the registration requirements of the Securities
      Act
      of 1933, as amended, and any applicable state securities laws or is made in
      accordance with said Act and laws and (ii) made in accordance with Section
      7.02
      of the Agreement. In the event that such transfer is to be made the Trustee
      shall register such transfer if, (i) made to a transferee who has provided
      the
      Trustee with evidence as to its QIB status; or (ii) (A) the transferor has
      advised the Trustee in writing that the Certificate is being transferred to
      an
      Institutional Accredited Investor and (B) prior to such transfer the transferee
      furnishes to the Trustee an Investment Letter; provided that if based upon
      an
      Opinion of Counsel to the effect that (A) and (B) above are not sufficient
      to
      confirm that such transfer is being made pursuant to an exemption from, or
      in a
      transaction not subject to, the registration requirements of the Securities
      Act
      and other applicable laws, the Trustee shall as a condition of the registration
      of any such transfer require the transferor to furnish such other
      certifications, legal opinions or other information prior to registering the
      transfer of this Certificate as shall be set forth in such Opinion of
      Counsel.]

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    Each
      holder of a Certificate or beneficial ownership shall be deemed to have made
      the
      representations set forth in section 7.02(b) of the Agreement.

     

    [For
      Class B-4] [This Certificate may not be acquired directly or indirectly by,
      or
      on behalf of, an employee benefit plan or other retirement arrangement which
      is
      subject to Title I of the Employee Retirement Income Security Act of 1974,
      as
      amended, or Section 4975 of the Internal Revenue Code of 1986, as amended,
      unless the transferee certifies or represents that the proposed transfer and
      holding of a Certificate and the servicing, management and operation of the
      trust and its assets: (i) will not result in any prohibited transaction which
      is
      not covered under an individual or class prohibited transaction exemption,
      including, but not limited to, Prohibited Transaction Class Exemption (“PTCE”)
      84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 or PTCE 96-23 and (ii) will not give
      rise to any additional obligations on the part of the Depositor, the Master
      Servicer or the Trustee, which will be deemed represented by an owner of a
      Book-Entry Certificate or a Global Certificate, or an Opinion of Counsel
      specified in section 7.02 of the Agreement is provided. This Certificate is
      one
      of a duly authorized issue of Certificates designated as set forth on the face
      hereof (the “Certificates”). The Certificates, in the aggregate, evidence the
      entire beneficial ownership interest in the Trust Fund formed pursuant to the
      Agreement.]

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of the Depositor, the Master Servicer, the
      Trustee or any such agent shall be affected by notice to the
      contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
      executed.

    

    
      	
              Dated:
                July 31, 2006

            	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Class B-[1][2][3][4] Certificates referred to in the within-mentioned
      Agreement.

    

    
      	 	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION, as Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-4

    

    FORM
      OF CLASS
      C CERTIFICATES

     

    SOLELY
      FOR
      U.S.
      FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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
      (THE “CODE”).

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER
      HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE
      REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH
      THE
      ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE
      ACT
      (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
      INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR
      ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER
      HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
      IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE ACT (IF AVAILABLE) OR (3) IN
      CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING
      THEREOF IN RULE 501(a)(1), (2),(3) OR (7) (OR ANY ENTITY IN WHICH ALL OF THE
      EQUITY HOLDERS COME WITHIN SUCH PARAGRAPHS) OF REGULATION D UNDER THE ACT
      PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE ACT, SUBJECT TO (A) THE
      RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE
      AGREEMENT (AS DEFINED BELOW) AND (B) THE RECEIPT BY THE Trustee OF AN OPINION
      OF
      COUNSEL AS TO COMPLIANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED
      STATES.

     

    NO
      TRANSFER OF THIS CERTIFICATE SHALL BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
      PROVIDES EITHER (I) A CERTIFICATION PURSUANT TO SECTION 7.02(b) OF THE AGREEMENT
      OR (II) AN OPINION OF COUNSEL PURSUANT TO 7.02(b) OF THE AGREEMENT, SATISFACTORY
      TO THE TRUSTEE THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE PERMISSIBLE
      UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED
      TRANSACTIONS UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
      OF
      1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE
      TRUSTEE, MASTER SERVICER, OR THE DEPOSITOR TO ANY OBLIGATION OR LIABILITY IN
      ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Certificate
                No. 1

            	
              Percentage
                Interest: 100%

            
	 	 
	
              Class
                C

            	 
	 	 
	
              Date
                of Pooling and Servicing Agreement 

              and
                Cut-off Date:

              July
                1, 2006

            	
              Aggregate
                Certificate Notional Amount of this Certificate as of the Cut-off
                Date:

              $[____________]

            
	 	 
	
              First
                Distribution Date:

              August
                25, 2006

            	
              Initial
                Certificate Notional Amount of this Certificate as of the Cut-off
                Date:

              $[____________]

            
	 	 
	
              Master
                Servicer:

              EMC
                Mortgage Corporation

            	
              CUSIP:
                [_______________]

            
	 	 
	
              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

     

    ASSET-BACKED
      CERTIFICATE

     

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class C Certificates
      with respect to a Trust Fund consisting primarily of a pool of conventional,
      one- to four-family, fixed interest rate mortgage loans sold by BEAR STEARNS
      ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that _______________ is the registered owner of the Percentage
      Interest evidenced hereby in the beneficial ownership interest of Certificates
      of the same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    The
      Trustee will distribute on the 25th day of each month, or, if such 25th day
      is
      not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
      to the Person in whose name this Certificate is registered at the close of
      business on the last day (or if such last day is not a Business Day, the
      Business Day immediately preceding such last day) of the calendar month
      immediately preceding the month in which the Distribution Date occurs, an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amounts required to be distributed to the Holders of Certificates of
      the
      same Class as this Certificate. The Assumed Final Distribution Date is the
      Distribution Date in the month following the latest scheduled maturity date
      of
      any Mortgage Loan.

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. 

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the
      Trustee shall require receipt of (i) if such transfer is purportedly being
      made
      in reliance upon Rule 144A under the 1933 Act, written certifications from
      the
      Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit D and either Exhibit E or Exhibit F, as applicable, and
      (ii) in all other cases, an Opinion of Counsel satisfactory to it that such
      transfer may be made without such registration or qualification (which Opinion
      of Counsel shall not be an expense of the Trust Fund or of the Depositor, the
      Trustee, or the Master Servicer in their respective capacities as such),
      together with copies of the written certification(s) of the Holder of the
      Certificate desiring to effect the transfer and/or such Holder’s prospective
      transferee upon which such Opinion of Counsel is based. Neither the Depositor
      nor the Trustee is obligated to register or qualify the Class of Certificates
      specified on the face hereof under the 1933 Act or any other securities law
      or
      to take any action not otherwise required under the Agreement to permit the
      transfer of such Certificates without registration or qualification. Any Holder
      desiring to effect a transfer of this Certificate shall be required to indemnify
      the Trustee, the Depositor, the Seller and the Master Servicer 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 this Certificate shall be made to any person, unless the transferee
      provides either (i) a certification pursuant to section 7.02(b) of the Agreement
      or an (ii) Opinion of Counsel pursuant to section 7.02(b) of the Agreement,
      satisfactory to the Trustee that the purchase and holding of this Certificate
      are permissible under applicable law, will not constitute or result in any
      non-exempt prohibited transactions under Section 406 ERISA or Section 4975
      of
      the Code and will not subject the Trustee, Master Servicer, or the Depositor
      to
      any obligation or liability in addition to those undertaken in the
      Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of Depositor, the Master Servicer, the Trustee
      or any such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
      executed.

     

    
      	
              Dated:
                July 31, 2006

            	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

     

    This
      is
      one of the Class C Certificates referred to in the within-mentioned
      Agreement.

     

    
      	 	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-5

    

    FORM
      OF CLASS P CERTIFICATES

     

    SOLELY
      FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS 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 (THE “CODE”).

     

    THE
      CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DECREASED BY THE
      PRINCIPAL PAYMENTS HEREON. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE
      CERTIFICATES, THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE
      DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE
      MAY ASCERTAIN ITS CERTIFICATE PRINCIPAL BALANCE BY INQUIRY OF THE TRUSTEE NAMED
      HEREIN.

     

    THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER
      HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE
      REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH
      THE
      ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE
      ACT
      (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
      INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR
      ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER
      HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
      IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE ACT (IF AVAILABLE) OR (3) IN
      CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING
      THEREOF IN RULE 501(a)(1), (2),(3) OR (7) (OR ANY ENTITY IN WHICH ALL OF THE
      EQUITY HOLDERS COME WITHIN SUCH PARAGRAPHS) OF REGULATION D UNDER THE ACT
      PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE ACT, SUBJECT TO (A) THE
      RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE
      AGREEMENT (AS DEFINED BELOW) AND (B) THE RECEIPT BY THE TRUSTEE OF AN OPINION
      OF
      COUNSEL AS TO COMPLIANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED
      STATES.

     

    NO
      TRANSFER OF THIS CERTIFICATE SHALL BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
      PROVIDES EITHER (I) A CERTIFICATION PURSUANT TO SECTION 7.02(b) OF THE AGREEMENT
      OR (II) AN OPINION OF COUNSEL PURSUANT TO 7.02(b) OF THE AGREEMENT, SATISFACTORY
      TO THE TRUSTEE THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE PERMISSIBLE
      UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT IN ANY NON-EXEMPT PROHIBITED
      TRANSACTIONS UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
      OF
      1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE
      TRUSTEE, MASTER SERVICER, OR THE DEPOSITOR TO ANY OBLIGATION OR LIABILITY IN
      ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

              Certificate
                No.1

            	
               

              Percentage
                Interest: 100%

            
	 	 
	
               

              Class
                P

            	 
	 	 
	
               

              Date
                of Pooling and Servicing Agreement and Cut-off Date:

              July
                1, 2006

            	
               

              Aggregate
                Initial Certificate Principal Balance of this Certificate as of the
                Cut-off Date:

              $100.00

            
	 	 
	
               

              First
                Distribution Date:

              August
                25, 2006

            	
               

              Initial
                Certificate Principal Balance of this Certificate as of the Cut-off
                Date:
                

              $100.00

            
	 	 
	
               

              Master
                Servicer:

              EMC
                Mortgage Corporation

            	
               

              CUSIP:
                [_________________]

            
	 	 
	
               

              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

    

    ASSET-BACKED
      CERTIFICATE

    

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class P Certificates
      with respect to a Trust Fund consisting primarily of a pool of conventional,
      one- to four-family, fixed interest rate mortgage loans sold by BEAR STEARNS
      ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that _______________ is the registered owner of the Percentage
      Interest evidenced hereby in the beneficial ownership interest of Certificates
      of the same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    Each
      Holder of this Certificate will be deemed to have agreed to be bound by the
      restrictions set forth in the Agreement to the effect that (i) each person
      holding or acquiring any Ownership Interest in this Certificate must be a United
      States Person and a Permitted Transferee, (ii) the transfer of any Ownership
      Interest in this Certificate will be conditioned upon the delivery to the
      Trustee of, among other things, an affidavit to the effect that it is a United
      States Person and Permitted Transferee, (iii) 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, and (iv) if any person other than a United States Person
      and a Permitted Transferee acquires any Ownership Interest in this Certificate
      in violation of such restrictions, then the Depositor will have the right,
      in
      its sole discretion and without notice to the Holder of this Certificate, to
      sell this Certificate to a purchaser selected by the Depositor, which purchaser
      may be the Depositor, or any affiliate of the Depositor, on such terms and
      conditions as the Depositor may choose.

     

    The
      Trustee will distribute on the 25th day of each month, or, if such 25th day
      is
      not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
      to the Person in whose name this Certificate is registered at the close of
      business on the last day (or if such last day is not a Business Day, the
      Business Day immediately preceding such last day) of the calendar month
      immediately preceding the month in which the Distribution Date occurs, an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amounts required to be distributed to the Holders of Certificates of
      the
      same Class as this Certificate. The Assumed Final Distribution Date is the
      Distribution Date in the month following the latest scheduled maturity date
      of
      any Mortgage Loan.

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. 

     

    No
      transfer of this Certificate shall be made unless the transfer is made pursuant
      to an effective registration statement under the Securities Act of 1933, as
      amended (the “1933 Act”), and an effective registration or qualification under
      applicable state securities laws, or is made in a transaction that does not
      require such registration or qualification. In the event that such a transfer
      of
      this Certificate is to be made without registration or qualification, the
      Trustee shall require receipt of (i) if such transfer is purportedly being
      made
      in reliance upon Rule 144A under the 1933 Act, written certifications from
      the
      Holder of the Certificate desiring to effect the transfer, and from such
      Holder’s prospective transferee, substantially in the forms attached to the
      Agreement as Exhibit D and either Exhibit E or Exhibit F, as applicable, and
      (ii) in all other cases, an Opinion of Counsel satisfactory to it that such
      transfer may be made without such registration or qualification (which Opinion
      of Counsel shall not be an expense of the Trust Fund or of the Depositor, the
      Trustee, or the Master Servicer in their respective capacities as such),
      together with copies of the written certification(s) of the Holder of the
      Certificate desiring to effect the transfer and/or such Holder’s prospective
      transferee upon which such Opinion of Counsel is based. Neither the Depositor
      nor the Trustee is obligated to register or qualify the Class of Certificates
      specified on the face hereof under the 1933 Act or any other securities law
      or
      to take any action not otherwise required under the Agreement to permit the
      transfer of such Certificates without registration or qualification. Any Holder
      desiring to effect a transfer of this Certificate shall be required to indemnify
      the Trustee, the Depositor, the Seller and the Master Servicer 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 this Certificate shall be made to any person, unless the transferee
      provides either (i) a certification pursuant to section 7.02(b) of the Agreement
      or an (ii) Opinion of Counsel pursuant to section 7.02(b) of the Agreement,
      satisfactory to the Trustee that the purchase and holding of this Certificate
      are permissible under applicable law, will not constitute or result in any
      non-exempt prohibited transactions under Section 406 ERISA or Section 4975
      of
      the Code and will not subject the Trustee, Master Servicer, or the Depositor
      to
      any obligation or liability in addition to those undertaken in the
      Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of Depositor, the Master Servicer, the Trustee
      or any such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
      executed.

    

    
      	
              Dated:
                July 31, 2006

            	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Class P Certificates referred to in the within-mentioned
      Agreement.

    

    
      	 	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,
                

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      A-6

    

    FORM
      OF CLASS R[-][1][2][3][X] CERTIFICATES

     

    THIS
      CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON
      OR A
      DISQUALIFIED ORGANIZATION (AS DEFINED BELOW).

     

    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
      (THE “CODE”).

     

    NO
      TRANSFER OF THIS CERTIFICATE SHALL BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE
      PROVIDES EITHER (I) A CERTIFICATION PURSUANT TO SECTION 7.02(b) OF THE AGREEMENT
      (AS DEFINED BELOW) OR (II) AN OPINION OF COUNSEL PURSUANT TO 7.02(b) OF THE
      AGREEMENT, SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE AND HOLDING OF THIS
      CERTIFICATE ARE PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT
      IN ANY NON-EXEMPT PROHIBITED TRANSACTIONS UNDER SECTION 406 OF THE EMPLOYEE
      RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF
      THE CODE AND WILL NOT SUBJECT THE TRUSTEE, MASTER SERVICER, OR THE DEPOSITOR
      TO
      ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE
      AGREEMENT.

     

    ANY
      RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY
      IF
      THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE TRUSTEE THAT (1)
      SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION
      THEREOF, ANY POSSESSION OF THE UNITED STATES, OR ANY AGENCY OR INSTRUMENTALITY
      OF ANY OF THE FOREGOING (OTHER THAN AN INSTRUMENTALITY WHICH IS A CORPORATION
      IF
      ALL OF ITS ACTIVITIES ARE SUBJECT TO TAX AND EXCEPT FOR FREDDIE MAC, A MAJORITY
      OF ITS BOARD OF DIRECTORS IS NOT SELECTED BY SUCH GOVERNMENTAL UNIT), (B) A
      FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR
      INSTRUMENTALITY OF EITHER OF THE FOREGOING, (C) ANY ORGANIZATION (OTHER THAN
      CERTAIN FARMERS’ COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS
      EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION
      IS
      SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE (INCLUDING THE TAX IMPOSED
      BY SECTION 511 OF THE CODE ON UNRELATED BUSINESS TAXABLE INCOME), (D) RURAL
      ELECTRIC AND TELEPHONE COOPERATIVES DESCRIBED IN SECTION 1381(a)(2)(C) OF THE
      CODE, (E) AN ELECTING LARGE PARTNERSHIP UNDER SECTION 775(a) OF THE CODE (ANY
      SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B), (C), (D) OR (E) BEING
      HEREIN REFERRED TO AS A “DISQUALIFIED ORGANIZATION”), OR (F) AN AGENT OF A
      DISQUALIFIED ORGANIZATION, (2) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE
      ASSESSMENT OR COLLECTION OF TAX, (3) SUCH TRANSFEREE SATISFIES CERTAIN
      ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED
      TRANSFEREE AND (4) SUCH TRANSFEREE IS A UNITED STATES PERSON. NOTWITHSTANDING
      THE REGISTRATION IN THE CERTIFICATE REGISTER OR ANY TRANSFER, SALE OR OTHER
      DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT
      OF A
      DISQUALIFIED ORGANIZATION OR A NON-UNITED STATES PERSON, SUCH REGISTRATION
      SHALL
      BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL
      NOT
      BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT
      NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER
      OF
      THIS CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE
      CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
               

              Certificate
                No.1

            	 
	 	 
	
               

              Class
                R-[1][2][3][X]

            	 
	 	
               

              Percentage
                Interest: 100%

            
	
               

              Date
                of Pooling and Servicing Agreement and Cut-off Date:

              July
                1, 2006

            	 
	 	 
	
               

              First
                Distribution Date:

              August
                25, 2006

            	 
	 	 
	
               

              Master
                Servicer:

              EMC
                Mortgage Corporation

            	 
	 	
               

              CUSIP:
                [____________]

            
	
               

              Assumed
                Final Distribution Date:

              August
                25, 2036

            	 
	 	 

    

    

    BEAR
      STEARNS MORTGAGE FUNDING TRUST 2006-AC1

     

    ASSET-BACKED
      CERTIFICATE

     

    SERIES
      2006-AC1

     

    evidencing
      a percentage interest in the distributions allocable to the Class
      R[-][1][2][3][X] Certificates with respect to a Trust Fund consisting primarily
      of a pool of conventional, one- to four-family, fixed interest rate mortgage
      loans sold by BEAR STEARNS ASSET BACKED SECURITIES I LLC.

     

    This
      Certificate is payable solely from the assets of the Trust Fund, and does not
      represent an obligation of or interest in Bear Stearns Asset Backed Securities
      I
      LLC, the Master Servicer or the Trustee referred to below or any of their
      affiliates or any other person. Neither this Certificate nor the underlying
      Mortgage Loans are guaranteed or insured by any governmental entity or by Bear
      Stearns Asset Backed Securities I LLC, the Master Servicer or the Trustee or
      any
      of their affiliates or any other person. None of Bear Stearns Asset Backed
      Securities I LLC, the Master Servicer or any of their affiliates will have
      any
      obligation with respect to any certificate or other obligation secured by or
      payable from payments on the Certificates.

     

    This
      certifies that _______________ is the registered owner of the Percentage
      Interest evidenced hereby in the beneficial ownership interest of Certificates
      of the same Class as this Certificate in a trust (the “Trust Fund”) generally
      consisting of conventional, first lien, fixed rate mortgage loans secured by
      one- to four- family residences (collectively, the “Mortgage Loans”) sold by
      Bear Stearns Asset Backed Securities I LLC (“BSABS I”). The Mortgage Loans were
      sold by EMC Mortgage Corporation (“EMC”) to BSABS I. EMC will act as master
      servicer of the Mortgage Loans (the “Master Servicer,” which term includes any
      successors thereto under the Agreement referred to below). The Trust Fund was
      created pursuant to the Pooling and Servicing Agreement, dated as of the Cut-off
      Date specified above (the “Agreement”), among BSABS I, as depositor (the
“Depositor”), EMC Mortgage Corporation, as seller and Master Servicer, and Wells
      Fargo Bank, National Association, as trustee (the “Trustee”), a summary of
      certain of the pertinent provisions of which is set forth hereafter. To the
      extent not defined herein, capitalized terms used herein shall have the meaning
      ascribed 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 its acceptance hereof
      assents and by which such Holder is bound.

     

    Each
      Holder of this Certificate will be deemed to have agreed to be bound by the
      restrictions set forth in the Agreement to the effect that (i) each person
      holding or acquiring any Ownership Interest in this Certificate must be a United
      States Person and a Permitted Transferee, (ii) the transfer of any Ownership
      Interest in this Certificate will be conditioned upon the delivery to the
      Trustee of, among other things, an affidavit to the effect that it is a United
      States Person and Permitted Transferee, (iii) 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, and (iv) if any person other than a United States Person
      and a Permitted Transferee acquires any Ownership Interest in this Certificate
      in violation of such restrictions, then the Depositor will have the right,
      in
      its sole discretion and without notice to the Holder of this Certificate, to
      sell this Certificate to a purchaser selected by the Depositor, which purchaser
      may be the Depositor, or any affiliate of the Depositor, on such terms and
      conditions as the Depositor may choose.

     

    The
      Trustee will distribute on the 25th day of each month, or, if such 25th day
      is
      not a Business Day, the immediately following Business Day (each, a
“Distribution Date”), commencing on the First Distribution Date specified above,
      to the Person in whose name this Certificate is registered at the close of
      business on the last day (or if such last day is not a Business Day, the
      Business Day immediately preceding such last day) of the calendar month
      immediately preceding the month in which the Distribution Date occurs, an amount
      equal to the product of the Percentage Interest evidenced by this Certificate
      and the amounts required to be distributed to the Holders of Certificates of
      the
      same Class as this Certificate. The Assumed Final Distribution Date is the
      Distribution Date in the month following the latest scheduled maturity date
      of
      any Mortgage Loan.

     

    Distributions
      on this Certificate will be made by the Trustee by check mailed to the address
      of the Person entitled thereto as such name and address shall appear on the
      Certificate Register or, if such Person so requests by notifying the Trustee
      in
      writing as specified in the Agreement. Notwithstanding the above, the final
      distribution on this Certificate will be made after due notice by the Trustee
      of
      the pendency of such distribution and only upon presentation and surrender
      of
      this Certificate at the office or agency appointed by the Trustee for that
      purpose and designated in such notice. 

     

    No
      transfer of this Certificate shall be made to any person, unless the transferee
      provides either (i) a certification pursuant to section 7.02(b) of the Agreement
      or an (ii) Opinion of Counsel pursuant to section 7.02(b) of the Agreement,
      satisfactory to the Trustee that the purchase and holding of this Certificate
      are permissible under applicable law, will not constitute or result in any
      non-exempt prohibited transactions under Section 406 ERISA or Section 4975
      of
      the Code and will not subject the Trustee, Master Servicer, or the Depositor
      to
      any obligation or liability in addition to those undertaken in the
      Agreement.

     

    This
      Certificate is one of a duly authorized issue of Certificates designated as
      set
      forth on the face hereof (the “Certificates”). The Certificates, in the
      aggregate, evidence the entire beneficial ownership interest in the Trust Fund
      formed pursuant to the Agreement.

     

    The
      Certificateholder, by its acceptance of this Certificate, agrees that it will
      look solely to the Trust Fund for payment hereunder and that the Trustee is
      not
      liable to the Certificateholders 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 hereby, and the rights, duties and immunities
      of the Trustee.

     

    The
      Agreement permits, with certain exceptions therein provided, the amendment
      thereof and the modification of the rights and obligations of the Depositor
      and
      the rights of the Certificateholders under the Agreement from time to time
      by
      the parties thereto with the consent of the Holders of the Class or Classes
      of
      Certificates affected thereby evidencing over 50% of the Voting Rights of such
      Class or Classes. 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 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.

     

    As
      provided in the Agreement and subject to certain limitations therein set forth,
      the transfer of this Certificate is registrable with the Trustee upon surrender
      of this Certificate for registration of transfer at the offices or agencies
      maintained by the Trustee for such purposes, duly endorsed by, or accompanied
      by
      a written instrument of transfer in form satisfactory to the Trustee duly
      executed by the Holder hereof or such Holder’s attorney duly authorized in
      writing, and thereupon one or more new Certificates in authorized denominations
      representing a like aggregate Percentage Interest will be issued to the
      designated transferee.

     

    The
      Certificates are issuable only as registered Certificates without coupons in
      the
      Classes and denominations specified in the Agreement. As provided in the
      Agreement and subject to certain limitations therein set forth, this Certificate
      is exchangeable for one or more new Certificates evidencing the same Class
      and
      in the same aggregate Percentage Interest, as requested by the Holder
      surrendering the same.

     

    No
      service charge will be made to the Certificateholders for any such registration
      of transfer, but the Trustee may require payment of a sum sufficient to cover
      any tax or other governmental charge payable in connection therewith. The
      Depositor, the Master Servicer, the Trustee and any agent of any of them may
      treat the Person in whose name this Certificate is registered as the owner
      hereof for all purposes, and none of Depositor, the Master Servicer, the Trustee
      or any such agent shall be affected by notice to the contrary.

     

    The
      obligations created by the Agreement and the Trust Fund created thereby (other
      than the obligations to make payments to Certificateholders with respect to
      the
      termination of the Agreement) shall terminate upon the earlier of (i) the later
      of (A) the maturity or other liquidation (or Advance with respect thereto)
      of
      the last Mortgage Loan remaining in the Trust Fund and disposition of all
      property acquired upon foreclosure or deed in lieu of foreclosure of any
      Mortgage Loan and (B) the remittance of all funds due under the Agreement,
      or
      (ii) the optional repurchase by the party named in the Agreement of all the
      Mortgage Loans and other related assets of the Trust Fund in accordance with
      the
      terms of the Agreement. Such optional repurchase may be made only on or after
      the first Distribution Date on which the aggregate Stated Principal Balance
      of
      the Mortgage Loans is less than or equal to a certain percentage of the
      aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
      Date
      as set forth in the Agreement. The exercise of such right will effect the early
      retirement of the Certificates. In no event, however, will the Trust Fund
      created by the Agreement continue beyond the earlier of (i) the expiration
      of 21
      years after the death of certain persons identified in the Agreement and (ii)
      the Latest Possible Maturity Date (as defined in the Agreement).

     

    Unless
      this Certificate has been countersigned by an authorized signatory of the
      Trustee by manual signature, this Certificate shall not be entitled to any
      benefit under the Agreement, or be valid for any purpose.

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
      executed.

    

    
      	
              Dated:
                July 31, 2006

            	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    

    CERTIFICATE
      OF AUTHENTICATION

    

    This
      is
      one of the Class R[-][1][2][3][X] Certificates referred to in the
      within-mentioned Agreement.

    

    
      	 	 	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION,
                

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              Authorized
                Signatory

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    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) a Percentage Interest evidenced by the
      within Asset-Backed Certificate and hereby authorizes the transfer of
      registration of such interest to assignee on the Certificate Register of the
      Trust Fund.

    

    I
      (We)
      further direct the Certificate Registrar 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

            

    

    

    

    
      	 	 
	 	
              Signature
                Guaranteed

            

    

    

    

    

    

    DISTRIBUTION
      INSTRUCTIONS

    

    This
      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.

            	 	 

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      B

    

    MORTGAGE
      LOAN SCHEDULE

     

    STATE            ZIP_CODE            CITY1                                         PROPTYPE
-----------------------------------------------------------------------------------------------------------
VA                        23233      RICHMOND                                      Single Family
VA                        22310      ALEXANDRIA                                    PUD
MD                        20715      BOWIE                                         Single Family
DC                        20016      Washington                                    Single Family
MD                        21009      ABINGDON                                      PUD
GA                        30319      Atlanta                                       PUD
VA                        24060      Blacksburg                                    Single Family
VA                        20111      MANASSAS                                      Single Family
MD                        20785      HYATTSVILLE                                   PUD
VA                        22151      N SPRINGFIELD                                 PUD
PA                        19460      Phoenixville                                  Single Family
GA                        30043      Lawrenceville                                 PUD
PA                        16125      GREENVILLE                                    Single Family
MD                        21113      ODENTON                                       Townhouse
MD                        20695      WHITE PLAINS                                  PUD
VA                        22405      FALMOUTH                                      Single Family
GA                        30294      ELLENWOOD                                     Single Family
VA                        22473      Heathsville                                   Single Family
MD                        21163      WOODSTOCK                                     Single Family
MD                        21207      Gwynn Oak                                     Single Family
MD                        21144      SEVERN                                        Condominium
DE                        19943      FELTON                                        Single Family
DE                        19805      WILMINGTON                                    Single Family
MD                        21225      BROOKLYN PARK                                 Single Family
DE                        19802      WILMINGTON                                    Townhouse
MD                        20602      WALDORF                                       Condominium
MD                        21037      Edgewater                                     Single Family
MD                        21502      CUMBERLAND                                    2-4 Family
UT                        84065      HERRIMAN                                      PUD
ID                        83401      Idaho Falls                                   Single Family
NY                        10452      Bronx                                         2-4 Family
NY                        11434      Jamaica                                       Single Family
NY                        11422      Rosedale                                      Single Family
NY                        11429      Queens Village                                Single Family
MS                        39532      Biloxi                                        Single Family
NY                        11206      Brooklyn                                      2-4 Family
FL                        33813      Lakeland                                      Single Family
NY                        10451      Bronx                                         2-4 Family
NY                        10030      New York                                      2-4 Family
NJ                         7206      Elizabeth                                     2-4 Family
NY                        11729      Deer Park                                     Single Family
NY                        11421      Woodhaven                                     2-4 Family
NY                        11563      Lynbrook                                      2-4 Family
NJ                         7503      Paterson                                      2-4 Family
NY                        11422      Rosedale                                      Single Family
GA                        30263      Newnan                                        Single Family
NY                        11550      Hempstead                                     2-4 Family
NY                        11234      Brooklyn                                      Single Family
NY                        11561      Long Beach                                    CO-OP
NY                        11754      Kings Park                                    Single Family
NY                        11421      Woodhaven                                     Single Family
NJ                         8610      Hamilton                                      Single Family
MD                        21842      Ocean City                                    Condominium
FL                        32771      SANFORD                                       Single Family
NJ                         7105      NEWARK                                        Single Family
NJ                         7104      NEWARK                                        2-4 Family
FL                        33701      St Petersburg                                 Single Family
FL                        32820      ORLANDO                                       PUD
NC                        27360      THOMASVILLE                                   Single Family
PA                        18508      SCRANTON                                      Single Family
PA                        19104      PHILADELPHIA                                  2-4 Family
NJ                         7109      BELLEVILLE                                    Single Family
NJ                         7202      Elizabeth                                     Single Family
NJ                         8822      FLEMINGTON                                    Condominium
NJ                         7087      UNION CITY                                    2-4 Family
NJ                         7734      KEANSBURG BOURGH                              2-4 Family
NJ                         7462      VERNON TOWNSHIP                               Condominium
PA                        18301      EAST STROUDSBURG                              Single Family
PA                        18102      ALLENTOWN                                     Single Family
FL                        32805      ORLANDO                                       2-4 Family
NJ                         8081      WINSLOW TOWNSHIP                              Single Family
NJ                         7047      NORTH BERGEN township                         2-4 Family
FL                        34748      LEESBURG                                      Single Family
NC                        28208      Charlotte                                     Single Family
NJ                         8618      TRENTON                                       2-4 Family
NJ                         7208      ELIZABETH                                     2-4 Family
NJ                         8081      WINSLOW TOWNSHIP                              Single Family
FL                        33313      LAUDERHILL                                    PUD
GA                        30084      TUCKER                                        Condominium
NC                        28734      FRANKLIN                                      Single Family
GA                        31794      TIFTON                                        Single Family
GA                        30044      Lawrenceville                                 Single Family
GA                        30060      Marietta                                      Single Family
SC                        29568      LONGS                                         Single Family
GA                        30504      Gainesville                                   Single Family
GA                        30291      UNION CITY                                    Single Family
GA                        30328      Marietta                                      Single Family
TX                        75154      Glenn Heights                                 Single Family
TX                        79938      El Paso                                       Single Family
OK                        74055      Owasso                                        Single Family
TX                        75208      DALLAS                                        2-4 Family
TX                        75208      DALLAS                                        2-4 Family
TX                        75214      Dallas                                        Single Family
TX                        78613      Cedar Park                                    Single Family
TX                        77036      Houston                                       PUD
TX                        78201      San Antonio                                   2-4 Family
TX                        77079      Houston                                       PUD
TX                        77590      Texas City                                    2-4 Family
WA                        98663      Vancouver                                     Single Family
OH                        44449      North Benton                                  Single Family
TX                        79936      El Paso                                       Single Family
FL                        33027      MIRAMAR                                       Condominium
TX                        75056      The Colony                                    Single Family
TX                        75062      IRVING                                        2-4 Family
TX                        75224      Dallas                                        Single Family
TX                        77033      Houston                                       Single Family
OR                        97006      Beaverton                                     2-4 Family
TX                        77535      Dayton                                        Single Family
OK                        74129      Tulsa                                         Single Family
TX                        78201      San Antonio                                   2-4 Family
TX                        77070      HOUSTON                                       PUD
TX                        75007      Carrollton                                    Single Family
TX                        75225      DALLAS                                        Condominium
NM                        87110      Albuquerque                                   Single Family
FL                        33498      Boca Raton                                    Condominium
FL                        33035      Homestead                                     Condominium
PA                        15601      Greensburg                                    Single Family
NJ                         8902      North Brunswick                               2-4 Family
NJ                         7104      Newark                                        Single Family
NJ                         7083      Union                                         Single Family
NJ                         7104      Newark                                        2-4 Family
FL                        32693      TRENTON                                       Single Family
CO                        81650      RIFLE                                         Single Family
FL                        33313      SUNRISE                                       PUD
CO                        80104      CASTLE ROCK                                   PUD
CO                        80247      DENVER                                        PUD
FL                        33773      Largo                                         Single Family
TN                        37211      Nashville                                     Single Family
FL                        34212      Bradenton                                     PUD
TN                        37406      Chattanooga                                   2-4 Family
FL                        33781      Pinellas Park                                 Single Family
FL                        34292      Venice                                        Single Family
TN                        37406      Chattanooga                                   2-4 Family
FL                        34787      Winter Garden                                 PUD
AL                        35242      Birmingham                                    PUD
TN                        37406      Chattanooga                                   2-4 Family
FL                        32566      Navarre                                       PUD
FL                        33703      St Petersburg                                 Condominium
TN                        37406      Chattanooga                                   2-4 Family
TN                        38305      Jackson                                       Single Family
FL                        32826      Orlando                                       Single Family
TN                        37087      Lebanon                                       Single Family
TN                        37406      Chattanooga                                   2-4 Family
FL                        32796      Titusville                                    PUD
LA                        70433      Covington                                     Single Family
TN                        37115      Madison                                       Condominium
FL                        34691      Holiday                                       Single Family
FL                        32404      Panama City                                   Single Family
GA                        30035      DECATUR                                       Single Family
GA                        30344      EAST POINT                                    Single Family
GA                        30680      WINDER                                        Single Family
GA                        30273      REX                                           Single Family
GA                        30117      CARROLLTON                                    Single Family
GA                        30605      ATHENS                                        2-4 Family
GA                        30318      ATLANTA                                       Single Family
GA                        30318      ATLANTA                                       PUD
GA                        30045      LAWRENCEVILLE                                 PUD
GA                        30121      CARTERSVILLE                                  Single Family
GA                        30034      DECATUR                                       Single Family
GA                        30141      HIRAM                                         Single Family
CA                        92395      Victorville                                   Single Family
PA                        19608      READING                                       Townhouse
NJ                         8527      Jackson                                       Condominium
PA                        19070      Morton                                        Single Family
PA                        19146      Philadelphia                                  Single Family
PA                        16505      Erie                                          Single Family
PA                        19050      Lansdowne                                     Single Family
NY                        11003      Elmont                                        Single Family
PA                        19145      Phila                                         Single Family
PA                        19143      Philadelphia                                  Townhouse
PA                        19134      Philadelphia                                  Single Family
PA                        19317      Chadds Ford                                   PUD
PA                        19124      .                                             2-4 Family
NY                        10024      New York                                      CO-OP
FL                        33436      VILLAGE OF GOLF                               Single Family
NY                        11702      Babylon                                       2-4 Family
NY                        11596      E WILLISTON                                   Single Family
NJ                         8006      BARNEGAT LIGHT                                Single Family
NY                        11702      Babylon                                       Single Family
NY                        11937      E HAMPTON                                     Single Family
AZ                        85220      Apache Junction                               PUD
AZ                        85202      Mesa                                          Single Family
NJ                         8103      CAMDEN                                        Single Family
NJ                         7110      NUTLEY                                        2-4 Family
AR                        72118      North Little Rock                             Single Family
TX                        76001      Arlington                                     Single Family
TX                        75219      Dallas                                        Condominium
TX                        75218      Dallas                                        Single Family
TX                        75230      Dallas                                        Condominium
IL                        62232      Caseyville                                    Single Family
GA                        30540      East Ellijay                                  Single Family
FL                        32811      Orlando                                       2-4 Family
FL                        34759      Kissimmee                                     Single Family
GA                        30281      Stockbridge                                   Single Family
FL                        33614      Tampa                                         Single Family
SC                        29451      Isle Of Palms                                 Single Family
CO                        81007      Pueblo West                                   Single Family
GA                        30349      Atlanta                                       Single Family
FL                        34473      Ocala                                         Single Family
IN                        46410      Merrillville                                  Single Family
MO                        63129      Saint Louis                                   Single Family
AZ                        85228      Coolidge                                      Single Family
FL                        34434      Citrus Springs                                Single Family
NJ                         7055      Passaic                                       2-4 Family
NY                        11510      Baldwin                                       Single Family
CA                        92352      Lake Arrowhead                                Condominium
CA                        90027      Los Angeles                                   2-4 Family
VA                        22193      Woodbridge                                    Single Family
AZ                        85013      Phoenix                                       Single Family
TX                        78572      MISSION                                       Single Family
CA                        95843      Antelope                                      Single Family
TX                        79905      El Paso                                       Single Family
TX                        78045      Laredo                                        PUD
AZ                        86046      Williams                                      Single Family
GA                        30291      Union City                                    PUD
TX                        78045      Laredo                                        PUD
WA                        98230      Blaine                                        Single Family
TX                        78539      Edinburg                                      Single Family
NC                        28262      Charlotte                                     PUD
IN                        46143      Greenwood                                     PUD
NC                        27704      Durham                                        PUD
CO                        81003      PUEBLO                                        2-4 Family
AZ                        85239      MARICOPA                                      Single Family
CO                        80214      DENVER                                        Single Family
TX                        77396      HUMBLE                                        PUD
CA                        92376      RIALTO                                        Single Family
MN                        55075      South Saint Paul                              Single Family
MN                        55124      Apple Valley                                  Condominium
TX                        75040      GARLAND                                       Single Family
GA                        30060      Marietta                                      Single Family
GA                        30809      Evans                                         PUD
TX                        78223      San Antonio                                   PUD
GA                        30809      Evans                                         Single Family
TX                        76207      Denton                                        PUD
CA                        95993      Yuba City                                     Single Family
GA                        30228      Hampton                                       PUD
IL                        60629      Chicago                                       Single Family
IL                        60014      CRYSTAL LAKE                                  Condominium
NJ                         7928      Chatham                                       Single Family
TX                        78245      San Antonio                                   PUD
TX                        75068      Little Elm                                    PUD
TX                        75070      Mckinney                                      Townhouse
TX                        75006      Carrollton                                    Single Family
TX                        75048      Sachse                                        Single Family
TX                        75068      Little Elm                                    PUD
GA                        30032      Decatur                                       2-4 Family
TX                        78223      San Antonio                                   PUD
TX                        76084      Venus                                         Single Family
GA                        30058      Lithonia                                      2-4 Family
NC                        27597      Zebulon                                       Single Family
TX                        75070      Mckinney                                      PUD
TX                        75032      Rockwall                                      Condominium
TX                        75416      BLOSSOM                                       Single Family
UT                        84043      LEHI                                          Single Family
CA                        92115      San Diego                                     Single Family
PA                        18017      BETHLEHEM                                     Townhouse
PA                        17331      PARK HEIGHTS                                  Townhouse
MD                        20774      UPPER MARLBORO                                PUD
MI                        49096      VERMONTVILLE                                  Single Family
KY                        42066      Mayfield                                      Single Family
OH                        43068      REYNOLDSBURG                                  Single Family
NV                        89108      LAS VEGAS                                     Single Family
WA                        98221      Anacortes                                     Condominium
FL                        32703      Apopka                                        PUD
MD                        20785      Hyattsville                                   Condominium
GA                        30116      Carrollton                                    Single Family
OR                        97223      Portland                                      2-4 Family
TX                        75035      Frisco                                        PUD
CA                        93631      Kingsburg                                     2-4 Family
TX                        78734      Lakeway                                       2-4 Family
AZ                        85641      Vail                                          PUD
TX                        76105      Fort Worth                                    2-4 Family
AZ                        85741      Tucson                                        PUD
MD                        21061      Glen Burnie                                   Single Family
CA                        95624      ELK GROVE                                     Single Family
CA                        93631      Kingsburg                                     2-4 Family
AZ                        85032      Phoenix                                       Condominium
CA                        93720      Fresno                                        Condominium
AZ                        85345      Peoria                                        PUD
FL                        34953      Port Saint Lucie                              Single Family
FL                        32738      Deltona                                       Single Family
CA                        93458      Santa Maria                                   PUD
AZ                        85710      Tucson                                        Single Family
CA                        94534      Fairfield                                     Single Family
TX                        76084      Venus                                         Single Family
ID                        83854      Post Falls                                    PUD
CA                        92592      Temecula                                      PUD
TX                        76105      Fort Worth                                    2-4 Family
FL                        33458      Jupiter                                       Single Family
PA                        18330      Effort                                        PUD
CA                        93927      Greenfield                                    Single Family
KY                        40601      Frankfort                                     2-4 Family
TX                        78654      MEADOWLAKES                                   PUD
TX                        78220      San Antonio                                   Single Family
FL                        32808      Orlando                                       Single Family
AR                        71913      Hot Springs                                   2-4 Family
AR                        71913      Hot Springs                                   Single Family
OR                        97415      Brookings                                     Single Family
MD                        20706      Glenarden                                     Single Family
ID                        83815      Coeur D Alene                                 Single Family
CA                        94952      Petaluma                                      Single Family
CA                        94803      TACOMA                                        2-4 Family
ID                        83814      Coeur D Alene                                 Single Family
VA                        23141      Quinton                                       Single Family
NJ                         7410      Fair Lawn                                     Single Family
CA                        94550      Livermore                                     Single Family
VA                        23227      Richmond                                      Single Family
OR                        97457      Myrtle Creek                                  Single Family
OR                        97123      Hillsboro                                     Single Family
OR                        97405      Eugene                                        Single Family
ID                        83815      Dalton Gardens                                Single Family
TX                        75052      Grand Prairie                                 PUD
PA                        18101      Allentown                                     Single Family
CA                        95991      Yuba City                                     Single Family
CA                        95966      Oroville                                      Single Family
KY                        40324      Georgetown                                    PUD
FL                        34951      Fort Pierce                                   PUD
MD                        21133      Randallstown                                  PUD
OH                        43202      Columbus                                      2-4 Family
IN                        46975      ROCHESTER                                     Single Family
OH                        45237      cincinnati                                    Single Family
KY                        40203      LOUISVILLE                                    2-4 Family
IN                        46580      WARSAW                                        Single Family
KY                        40031      LA GRANGE                                     Single Family
OH                        43119      GALLOWAY                                      Single Family
IN                        46806      FT WAYNE                                      Single Family
OH                        43202      Columbus                                      2-4 Family
OH                        43055      NEWARK                                        Single Family
KY                        42503      SOMERSET                                      Single Family
IN                        47150      NEW ALBANY                                    Condominium
OH                        45065      SOUTH LEBANON                                 Single Family
TN                        37080      JOELTON                                       Single Family
OH                        43223      COLUMBUS                                      Single Family
KY                        40229      LOUISVILLE                                    Single Family
IN                        46806      FT WAYNE                                      Single Family
KY                        40272      LOUISVILLE                                    Single Family
HI                        96813      Honolulu                                      Condominium
HI                        96813      Honolulu                                      Condominium
CO                        80012      AURORA                                        Single Family
FL                        33125      MIAMI                                         Hi-Rise Condo
CO                        80487      Steamboat Springs                             Condominium
CO                        80205      Denver                                        Single Family
CO                        80524      FORT COLLINS                                  PUD
CO                        80229      DENVER                                        PUD
IL                        60540      Naperville                                    Single Family
WY                        82414      Cody                                          Single Family
FL                        32221      JACKSONVILLE                                  Single Family
DC                        20008      Washington                                    Townhouse
VA                        20132      Purcellville                                  Single Family
NJ                         7010      Cliffside Park                                2-4 Family
ME                         4530      Bath                                          Single Family
VA                        23454      Virginia Beach                                Single Family
VA                        20111      Manassas                                      Single Family
DE                        19963      MILFORD                                       Single Family
ID                        83869      SPIRIT LAKE                                   Single Family
TX                        76010      ARLINGTON                                     Single Family
SC                        29485      Summerville                                   Single Family
GA                        30313      Atlanta                                       Hi-Rise Condo
SC                        29107      West Columbia                                 Single Family
SC                        29033      Cayce                                         Single Family
NC                        28745      Lake Junaluska                                2-4 Family
MN                        55044      Lakeville                                     Single Family
AZ                        85713      Tucson                                        Single Family
TX                        78109      Converse                                      Single Family
TX                        77079      Houston                                       Townhouse
TX                        78041      Laredo                                        2-4 Family
TX                        76227      Aubrey                                        PUD
AZ                        85641      Vail                                          Single Family
FL                        32504      Pensacola                                     Single Family
AZ                        85017      Phoenix                                       2-4 Family
TX                        78041      Laredo                                        2-4 Family
KS                        67554      Lyons                                         Single Family
AZ                        85243      Queen Creek                                   PUD
MO                        64118      Kansas City                                   PUD
TX                        77386      Spring                                        PUD
AZ                        86301      Prescott                                      Single Family
TX                        77845      College Station                               2-4 Family
CO                        80906      Colorado Springs                              Single Family
AZ                        85250      Scottsdale                                    PUD
TX                        77054      Houston                                       Condominium
MO                        64015      Blue Springs                                  Single Family
TX                        77584      PEARLAND                                      Single Family
MO                        63070      Pevely                                        PUD
TX                        77379      SPRING                                        PUD
TX                        77373      SPRING                                        PUD
TX                        77373      SPRING                                        PUD
TX                        77022      HOUSTON                                       Single Family
TX                        77373      SPRING                                        PUD
TX                        76543      KILLEEN                                       2-4 Family
TX                        77338      HUMBLE                                        Single Family
TX                        78539      EDINBURG                                      2-4 Family
NC                        27260      HIGH POINT                                    PUD
TX                        77072      HOUSTON                                       Single Family
TX                        78250      SAN ANTONIO                                   2-4 Family
TX                        77433      CYPRESS                                       PUD
TN                        38128      MEMPHIS                                       Single Family
TX                        76513      Belton                                        Single Family
TX                        77338      BORDERSVILLE                                  Single Family
TX                        77338      BORDERSVILLE                                  PUD
TX                        77035      HOUSTON                                       PUD
FL                        34953      PT ST LUCIE                                   Single Family
NC                        28075      Harrisburg                                    PUD
FL                        32953      MERRITT ISLAND                                Single Family
CA                        92064      Poway                                         Single Family
CA                        92337      Fontana                                       Single Family
FL                        32828      Orlando                                       PUD
NM                        87121      Albuquerque                                   PUD
CO                        80504      Frederick                                     PUD
VA                        22031      FAIRFAX                                       Condominium
OH                        45236      Cincinnati                                    Single Family
FL                        32909      Palm Bay                                      Single Family
FL                        33884      Winter Haven                                  PUD
FL                        32909      Palm Bay                                      Single Family
OH                        44212      Brunswick                                     PUD
FL                        32958      Sebastian                                     PUD
OH                        43232      Columbus                                      Single Family
FL                        33884      Winter Haven                                  PUD
NY                        10025      New York                                      CO-OP
NY                        10011      New York                                      CO-OP
TN                        38017      Collierville                                  Single Family
RI                         2889      WARWICK                                       Single Family
NY                        11755      Lake Grove                                    Single Family
NJ                         7305      Jersey City                                   2-4 Family
PA                        15209      Pittsburgh                                    2-4 Family
CT                         6810      DANBURY                                       Condominium
RI                         2871      PORTSMOUTH                                    Single Family
NJ                         7726      MANALAPAN                                     Single Family
OK                        73098      Wynnewood                                     Single Family
TX                        76262      FT. WORTH                                     Single Family
TX                        75459      Howe                                          Single Family
OK                        74820      Ada                                           Single Family
OK                        73052      Lindsay                                       Single Family
TX                        76210      Denton                                        PUD
OK                        74820      Ada                                           Single Family
TX                        75115      De Soto                                       Single Family
TX                        78006      Boerne                                        Single Family
TX                        76208      Denton                                        Single Family
MD                        21773      MYERSVILLE                                    Single Family
VA                        22485      KING GEORGE                                   Single Family
MD                        20785      LANDOVER                                      Condominium
NC                        27526      FUQUAY VARINA                                 PUD
DC                        20018      WASHINGTON                                    Single Family
NC                        27529      GARNER                                        Single Family
MD                        20734      CLINTON                                       Single Family
MD                        21740      HAGERSTOWN                                    Single Family
NC                        27576      SELMA                                         Single Family
MD                        21229      BALTIMORE                                     Single Family
ME                         4927      Clinton                                       Single Family
MA                         1720      Acton                                         Condominium
RI                         2840      MIDDLETOWN                                    Single Family
MD                        20904      Silver Spring                                 Single Family
CA                        94116      SAN FRANCISCO                                 Single Family
CT                         6360      NORWICH                                       2-4 Family
CA                        90038      Los Angeles                                   2-4 Family
CA                        92648      Huntington Beach                              2-4 Family
SC                        29301      SPARTANBURG                                   Single Family
AL                        35601      DECATUR                                       2-4 Family
VA                        20186      AIRLIE                                        Single Family
FL                        32506      PENSACOLA                                     PUD
MD                        21144      SEVERN                                        PUD
NJ                         7734      W KEANSBURG                                   Single Family
GA                        30043      LAWRENCEVILLE                                 2-4 Family
NC                        28269      CHARLOTTE                                     PUD
NC                        27265      HIGH POINT                                    PUD
FL                        32826      ORLANDO                                       PUD
MD                        21740      HAGERSTOWN                                    Single Family
WA                        98003      FEDERAL WAY                                   Single Family
WA                        98584      Shelton                                       Single Family
KS                        67052      GODDARD                                       PUD
IN                        47906      WEST LAFAYETTE                                2-4 Family
WA                        98501      Olympia                                       Single Family
TX                        76901      San Angelo                                    Single Family
IL                        60637      Chicago                                       Condominium
CA                        92385      Skyforest                                     Single Family
IL                        60085      Waukegan                                      2-4 Family
NY                        11691      Far Rockaway                                  Single Family
PA                        19401      Norristown                                    2-4 Family
CA                        91701      Rch Cucamonga                                 2-4 Family
MI                        48125      Dearborn Heights                              Single Family
CO                        80014      Aurora                                        Condominium
TX                        77053      Houston                                       Single Family
FL                        32210      Jacksonville                                  Single Family
TX                        75048      Sachse                                        PUD
TX                        78717      Austin                                        PUD
NM                        87113      Albuquerque                                   PUD
FL                        33437      Boynton Beach                                 PUD
PA                        18360      Stroudsburg                                   Single Family
NV                        89113      Las Vegas                                     PUD
AZ                        85306      GLENDALE                                      Single Family
CA                        90242      DOWNEY                                        2-4 Family
CA                        90042      LOS ANGELES                                   Single Family
AZ                        85205      MESA                                          Condominium
MD                        21619      CHESTER                                       Single Family
CA                        92240      DESERT HOT SPRINGS                            Single Family
AZ                        85225      CHANDLER                                      Single Family
AZ                        85042      PHOENIX                                       Condominium
AZ                        85351      SUN CITY                                      Condominium
NY                        11411      CAMBRIA HTS                                   Single Family
NY                        11758      Massapequa                                    Single Family
NY                        11520      Freeport                                      Single Family
NJ                         7104      Newark                                        2-4 Family
PA                        18651      Plymouth                                      2-4 Family
PA                        18202      West Hazleton                                 Condominium
FL                        33913      Fort Myers                                    PUD
FL                        33881      Winter Haven                                  PUD
TX                        77429      Cypress                                       PUD
CA                        92629      DANA POINT                                    Condominium
CA                        92337      Fontana                                       Single Family
NY                        10459      Bronx                                         2-4 Family
NY                        11357      Whitestone                                    Single Family
NY                        11545      Glen Head                                     Single Family
UT                        84102      Salt Lake City                                Hi-Rise Condo
OR                        97739      La Pine                                       Single Family
ID                        83221      Blackfoot                                     2-4 Family
WA                        98327      DUPONT                                        PUD
CA                        95694      WINTERS                                       Single Family
FL                        33162      Miami                                         Single Family
WA                        98312      BREMERTON                                     Single Family
OH                        44221      CUYAHOGA FALLS                                Single Family
MD                        20721      BOWIE                                         Single Family
MD                        20743      CAPITOL HGTS                                  Single Family
VA                        20151      CHANTILLY                                     Single Family
MD                        20784      HYATTSVILLE                                   Condominium
MD                        20712      MOUNT RAINIER                                 Single Family
CO                        80239      DENVER                                        PUD
MD                        20747      DISTRICT HEIGHTS                              Single Family
CA                        94070      San Carlos                                    Single Family
IA                        52803      DAVENPORT                                     2-4 Family
SC                        29926      Hilton Head Island                            PUD
MD                        21244      Windsor Mill                                  Single Family
FL                        33016      Hialeah                                       Condominium
FL                        33126      Miami                                         Hi-Rise Condo
FL                        33016      Hialeah                                       Condominium
FL                        33016      Hialeah                                       Condominium
FL                        33183      Miami                                         PUD
CA                        95136      SAN JOSE                                      Single Family
CA                        90220      COMPTON                                       Single Family
WA                        98203      EVERETT                                       Single Family
GA                        30047      Lilburn                                       Single Family
SC                        29625      Anderson                                      Single Family
SC                        29010      Bishopville                                   Single Family
GA                        31405      Savannah                                      Single Family
FL                        32209      JACKSONVILLE                                  Single Family
GA                        31406      Savannah                                      Single Family
GA                        30458      Statesboro                                    2-4 Family
SC                        29642      Easley                                        Single Family
NV                        89052      HENDERSON                                     PUD
CO                        80104      CASTLE ROCK                                   PUD
NV                        89139      LAS VEGAS                                     Single Family
UT                        84043      EAGLE MOUNTAIN                                PUD
GA                        30294      Ellenwood                                     PUD
GA                        30548      Hoschton                                      Single Family
GA                        30032      Decatur                                       Single Family
GA                        30677      Watkinsville                                  Condominium
GA                        30066      Marietta                                      Single Family
GA                        30032      Decatur                                       Single Family
FL                        33407      West Palm Beach                               Single Family
GA                        30044      Lawrenceville                                 PUD
NC                        27501      Angier                                        Single Family
GA                        30084      Tucker                                        Single Family
GA                        30338      Dunwoody                                      PUD
GA                        30075      Roswell                                       PUD
GA                        30075      Roswell                                       PUD
GA                        30342      Atlanta                                       Single Family
GA                        30606      Athens                                        PUD
GA                        30004      Alpharetta                                    PUD
NC                        28681      Taylorsville                                  Single Family
FL                        33617      Tampa                                         Condominium
GA                        30519      Buford                                        Single Family
GA                        30263      Newnan                                        Single Family
GA                        30135      Douglasville                                  PUD
GA                        30058      Lithonia                                      PUD
NC                        28401      Wilmington                                    Hi-Rise Condo
GA                        30306      Atlanta                                       Single Family
GA                        30014      Covington                                     PUD
NC                        28079      Indian Trail                                  PUD
GA                        30068      Marietta                                      Single Family
GA                        30906      Augusta                                       Single Family
NC                        28269      Charlotte                                     Single Family
GA                        30094      Conyers                                       Single Family
GA                        30097      Duluth                                        PUD
GA                        30030      Decatur                                       Single Family
NC                        28215      Charlotte                                     Single Family
FL                        34683      Palm Harbor                                   Condominium
FL                        33327      Weston                                        PUD
NC                        28213      Charlotte                                     Single Family
GA                        30013      Conyers                                       PUD
GA                        30043      Lawrenceville                                 PUD
GA                        30068      Marietta                                      Single Family
FL                        33157      Miami                                         PUD
FL                        33954      PORT CHARLOTTE                                Single Family
NJ                         8610      HAMILTON                                      Single Family
NY                        10548      CORTLANDT                                     Single Family
FL                        32751      MAITLAND                                      Condominium
CA                        91411      Sherman Oaks                                  Single Family
NJ                         7866      ROCKAWAY                                      PUD
FL                        33033      HOMESTEAD                                     Single Family
MO                        63112      Saint Louis                                   Single Family
VA                        22701      Culpeper                                      Single Family
VA                        23454      Virginia Beach                                Single Family
OH                        45312      CASSTOWN                                      Single Family
IN                        47909      LAFAYETTE                                     2-4 Family
IN                        47909      LAFAYETTE                                     2-4 Family
OH                        43344      RICHWOOD                                      Single Family
OH                        44122      BEACHWOOD                                     Single Family
IN                        47909      LAFAYETTE                                     2-4 Family
OH                        43202      COLUMBUS                                      2-4 Family
IN                        47909      LAFAYETTE                                     2-4 Family
MI                        49636      GLEN ARBOR                                    Single Family
IN                        47909      LAFAYETTE                                     2-4 Family
IN                        47909      LAFAYETTE                                     2-4 Family
IN                        47909      LAFAYETTE                                     2-4 Family
IN                        47909      LAFAYETTE                                     2-4 Family
OH                        44432      LISBON                                        Single Family
UT                        84060      Park City                                     Condominium
UT                        84107      Salt Lake City                                Single Family
MN                        55033      HASTINGS                                      Townhouse
MN                        55090      WILLERNIE                                     Single Family
TX                        77007      HOUSTON                                       Townhouse
TX                        77450      KATY                                          PUD
CA                        93534      LANCASTER                                     2-4 Family
TX                        77705      BEAUMONT                                      Single Family
TX                        78747      AUSTIN                                        PUD
TX                        77338      HUMBLE                                        Single Family
TN                        37141      ORLINDA                                       2-4 Family
TX                        78572      MISSION                                       PUD
TX                        77510      SANTA FE                                      Single Family
TX                        77447      HOCKLEY                                       PUD
TX                        77083      HOUSTON                                       Single Family
CA                        93534      LANCASTER                                     2-4 Family
TX                        78727      Austin                                        Single Family
TX                        77083      HOUSTON                                       Townhouse
TX                        76135      FORT WORTH                                    PUD
TX                        76063      MANSFIELD                                     PUD
GA                        30044      Lawrenceville                                 Single Family
GA                        30066      Marietta                                      Single Family
AZ                        85013      Phoenix                                       Single Family
AZ                        85032      Phoenix                                       Single Family
OR                        97405      EUGENE                                        PUD
GA                        30375      Atlanta                                       Single Family
GA                        30144      Kennesaw                                      PUD
AZ                        85087      NEW RIVER                                     Single Family
AZ                        85223      ARIZONA CITY                                  Single Family
WI                        53218      MILWAUKEE                                     Single Family
TX                        77070      HOUSTON                                       Single Family
TX                        78254      San Antonio                                   Single Family
TX                        77066      HOUSTON                                       PUD
TX                        77449      Katy                                          PUD
ID                        83814      COEUR D ALENE                                 2-4 Family
GA                        30721      DALTON                                        2-4 Family
GA                        30248      LOCUST GROVE                                  PUD
WA                        99338      KENNEWICK                                     Single Family
TX                        77070      HOUSTON                                       Single Family
WA                        99301      PASCO                                         Single Family
CO                        80906      Colorado Springs                              Single Family
IN                        47712      EVANSVILLE                                    2-4 Family
GA                        30311      ATL                                           Single Family
MN                        55122      EAGAN                                         Single Family
MN                        55346      EDEN PRAIRIE                                  Condominium
TX                        75605      Longview                                      Single Family
FL                        32208      JACKSONVILLE                                  Single Family
TX                        75215      DALLAS                                        Single Family
TX                        75103      CANTON                                        Single Family
TX                        77388      SPRING                                        PUD
TX                        75134      LANCASTER                                     Single Family
TX                        78574      Mission                                       Condominium
TX                        75043      GARLAND                                       Single Family
TX                        76123      FORT WORTH                                    Single Family
NC                        27316      Ramseur                                       Single Family
TX                        75248      DALLAS                                        Single Family
NM                        88012      Las Cruces                                    Single Family
NC                        27248      FRANKLINVILLE                                 Single Family
TX                        75704      TYLER                                         Single Family
TX                        75076      POTTSBORO                                     Single Family
TX                        75172      WILMER                                        Single Family
TX                        76264      SADLER                                        Single Family
VA                        24202      BRISTOL                                       Condominium
FL                        34758      KISSIMMEE                                     PUD
CO                        80214      Lakewood                                      Single Family
CO                        80466      ELDORA                                        Single Family
CO                        81647      New Castle                                    Single Family
CA                        90019      Los Angeles                                   2-4 Family
MA                         2121      Boston                                        2-4 Family
VA                        22408      Fredericksburg                                Single Family
FL                        32824      Orlando                                       PUD
GA                        30032      Decatur                                       Single Family
TX                        78750      Austin                                        Single Family
TX                        79407      Lubbock                                       Single Family
TX                        78043      Laredo                                        Single Family
LA                        70068      La Place                                      Single Family
UT                        84041      Layton                                        Single Family
TX                        79413      Lubbock                                       Single Family
TX                        78242      SAN ANTONIO                                   Single Family
IL                        62002      Alton                                         Single Family
TX                        78745      Austin                                        Single Family
TX                        79413      Lubbock                                       Single Family
TX                        78043      Laredo                                        Single Family
CO                        80219      Denver                                        Single Family
SC                        29715      Fort Mill                                     PUD
IL                        60506      Aurora                                        Single Family
MD                        20657      Lusby                                         PUD
GA                        30134      Douglasville                                  Single Family
MD                        20912      Takoma Park                                   Townhouse
AL                        35634      Florence                                      Single Family
FL                        33068      Pompano Beach                                 Single Family
AL                        35124      Pelham                                        Single Family
GA                        30034      Decatur                                       Condominium
FL                        33305      Wilton Manors                                 Single Family
MS                        38671      Southaven                                     PUD
MD                        21216      Baltimore                                     Single Family
AL                        35661      Muscle Shoals                                 Single Family
NC                        28212      Charlotte                                     Single Family
GA                        30248      Locust Grove                                  Single Family
NC                        28461      South port                                    Single Family
WI                        54650      Onalaska                                      Townhouse
MI                        48188      Canton                                        Condominium
MA                         1960      Peabody                                       2-4 Family
FL                        33316      Fort Lauderdale                               CO-OP
CA                        91739      Rancho Cucamonga                              Single Family
NV                        89149      LAS VEGAS                                     Single Family
CA                        92392      Victorville                                   Single Family
TX                        78654      MARBLE FALLS                                  PUD
NV                        89030      North Las Vegas                               Single Family
NV                        89144      LAS VEGAS                                     PUD
NV                        89149      Las Vegas                                     PUD
CO                        80004      ARVADA                                        Single Family
CT                         6112      Hartford                                      Single Family
MA                         1364      ORANGE                                        Single Family
NJ                         8081      Sicklerville                                  Single Family
CA                        95757      ELK GROVE                                     Single Family
CA                        90201      BELL GARDENS                                  2-4 Family
CA                        90044      LOS ANGELES                                   2-4 Family
OH                        44306      AKRON                                         Single Family
TX                        77532      CROSBY                                        PUD
HI                        96789      MILILANI                                      PUD
AZ                        85388      Surprise                                      PUD
IL                        60804      CISERO                                        2-4 Family
OH                        44306      AKRON                                         2-4 Family
AZ                        85249      CHANDLER                                      PUD
FL                        32092      Saint Augustine                               PUD
LA                        71104      SHREVEPORT                                    Condominium
OH                        44305      AKRON                                         Single Family
CA                        93301      bakersfield                                   Single Family
FL                        33908      FORT MYERS                                    2-4 Family
AZ                        85737      Oro Valley                                    PUD
WI                        53140      KENOSHA                                       2-4 Family
NV                        89102      Las Vegas                                     Single Family
WA                        98387      SPANAWAY                                      2-4 Family
TX                        76148      WATAUGA                                       Single Family
OH                        44471      struthers                                     Single Family
NC                        28457      ROCKY POINT                                   Single Family
LA                        71104      shreveport                                    Single Family
TX                        76131      FORT WORTH                                    PUD
TX                        77346      HUMBLE                                        Single Family
AL                        35215      BIRMINGHAM                                    Single Family
NC                        28443      HAMPSTEAD                                     Single Family
TX                        77346      HUMBLE                                        Townhouse
AL                        35020      BESSEMER                                      Single Family
NC                        28540      JACKSONVILLE                                  Single Family
AL                        35171      THORSBY                                       Single Family
TX                        77494      KATY                                          Single Family
AL                        35117      MOUNT OLIVE                                   Single Family
TX                        76210      DENTON                                        Single Family
TX                        76249      KRUM                                          Single Family
TX                        76210      DENTON                                        PUD
OH                        44232      Green                                         PUD
MD                        21842      NORTH OCEAN CITY                              Condominium
VA                        20187      VINT HILL FARMS                               Condominium
OH                        44077      Painesville                                   PUD
OH                        44067      NORTHFIELD CENTER                             PUD
OH                        44087      TWINSBURG                                     PUD
VA                        20112      MANASSAS                                      PUD
VA                        22960      ORANGE                                        PUD
NJ                         8514      CREAM RIDGE                                   Single Family
PA                        18017      BETHLEHEM                                     PUD
MD                        21228      Baltimore                                     Townhouse
NJ                         8302      SEABROOK                                      Single Family
MD                        21842      OCEAN CITY                                    Condominium
MD                        21043      Ellicott  City                                PUD
OH                        44067      NORTHFIELD                                    PUD
FL                        33556      Odessa                                        Single Family
GA                        30173      Silver Creek                                  Single Family
CA                        92253      LA QUINTA                                     Condominium
CA                        90744      WILMINGTON                                    2-4 Family
MA                         2155      Medford                                       2-4 Family
FL                        34698      Dunedin                                       Single Family
AZ                        85204      MESA                                          PUD
AZ                        85204      MESA                                          Single Family
GA                        30265      NEWNAN                                        PUD
GA                        30019      DACULA                                        PUD
GA                        30180      Villa Rica                                    Single Family
GA                        30121      Cartersville                                  2-4 Family
GA                        30103      ADAIRSVILLE                                   Single Family
GA                        30040      CUMMING                                       PUD
GA                        30017      GRAYSON                                       PUD
NC                        28269      CHARLOTTE                                     PUD
GA                        30316      ATLANTA                                       Single Family
GA                        30044      LAWRENCEVILLE                                 PUD
GA                        30054      Oxford                                        PUD
GA                        30039      Snellville                                    PUD
GA                        30120      Cartersville                                  Single Family
GA                        30054      Oxford                                        PUD
GA                        30011      Auburn                                        PUD
SC                        29715      FORT MILL                                     PUD
GA                        30012      Conyers                                       Single Family
GA                        30228      Hampton                                       Single Family
GA                        30248      LOCUST GROVE                                  PUD
GA                        30252      MCDONOUGH                                     PUD
GA                        30253      MCDONOUGH                                     Single Family
GA                        30019      DACULA                                        PUD
GA                        30044      LAWRENCEVILLE                                 PUD
GA                        30253      MCDONOUGH                                     PUD
GA                        30157      DALLAS                                        Single Family
GA                        30331      ATLANTA                                       PUD
GA                        30213      Fairburn                                      Townhouse
GA                        30656      MONROE                                        Single Family
GA                        30281      STOCKBRIDGE                                   Single Family
GA                        30248      Locust Grove                                  Single Family
GA                        30040      CUMMING                                       PUD
GA                        30135      Douglasville                                  PUD
GA                        30054      Oxford                                        Single Family
GA                        30656      MONROE                                        Single Family
GA                        30549      Jefferson                                     PUD
GA                        30043      Lawrenceville                                 PUD
GA                        30228      HAMPTON                                       PUD
GA                        30066      MARIETTA                                      Single Family
GA                        30542      FLOWERY BRANCH                                PUD
GA                        30273      REX                                           Single Family
GA                        30656      MONROE                                        Single Family
GA                        30152      KENNESAW                                      PUD
GA                        30039      SNELLVILLE                                    PUD
GA                        30011      AUBURN                                        PUD
GA                        30253      MCDONOUGH                                     Townhouse
GA                        30349      College Park                                  PUD
FL                        33838      Dundee                                        PUD
GA                        30035      DECATUR                                       Condominium
WY                        82633      Douglas                                       Single Family
CO                        80433      Conifer                                       Single Family
CO                        80107      Elizabeth                                     Single Family
AR                        72802      Russellville                                  Single Family
CA                        90022      LOS ANGELES                                   2-4 Family
CA                        91302      CALABASAS                                     PUD
CA                        92704      SANTA ANA                                     Single Family
CA                        90011      LOS ANGELES                                   Single Family
FL                        33016      HIALEAH                                       Single Family
CA                        93445      OCEANO                                        Single Family
FL                        33313      LAUDERHILL                                    Townhouse
TX                        75007      CARROLLTON                                    Single Family
CO                        80516      ERIE                                          Single Family
NY                        11003      ELMONT                                        Single Family
TX                        76210      DENTON                                        PUD
IN                        46350      La Porte                                      2-4 Family
TX                        75068      LITTLE ELM                                    PUD
TX                        76065      MIDLOTHIAN                                    PUD
IN                        46544      Mishawaka                                     Single Family
TX                        76033      CLEBURNE                                      Single Family
IA                        52802      DAVENPORT                                     Single Family
TX                        75068      LITTLE ELM                                    Single Family
MS                        38654      OLIVE BRANCH                                  Single Family
TX                        76903      SAN ANGELO                                    Single Family
IN                        46350      La Porte                                      2-4 Family
GA                        30327      Atlanta                                       Condominium
GA                        30222      Greenville                                    Single Family
FL                        32548      Fort Walton Beach                             PUD
GA                        31419      Savannah                                      Single Family
GA                        30116      Carrollton                                    Single Family
GA                        30562      Mountain City                                 Single Family
GA                        30024      Suwanee                                       Single Family
AL                        35064      Fairfield                                     Single Family
GA                        30809      Evans                                         Single Family
GA                        30319      Atlanta                                       Single Family
SC                        29407      Charleston                                    Single Family
TN                        37363      Ooltewah                                      PUD
GA                        31406      Savannah                                      PUD
GA                        30512      Blairsville                                   Single Family
GA                        30083      Stone Mountain                                Single Family
GA                        31419      Savannah                                      Single Family
AL                        35080      Helena                                        Single Family
FL                        32548      Fort Walton Beach                             PUD
GA                        30339      Atlanta                                       Single Family
SC                        29406      N Charleston                                  2-4 Family
GA                        31520      Brunswick                                     2-4 Family
GA                        30134      Douglasville                                  PUD
TN                        38016      Cordova                                       Single Family
NC                        28031      Cornelius                                     PUD
GA                        31525      Brunswick                                     Single Family
GA                        30363      Atlanta                                       Condominium
GA                        31522      Saint Simons Island                           Condominium
GA                        30116      Carrollton                                    PUD
NC                        28512      Atlantic Beach                                Condominium
MI                        48210      DETROIT                                       Single Family
TX                        76266      Sanger                                        Single Family
KS                        67203      WICHITA                                       2-4 Family
OR                        97501      Medford                                       Single Family
MO                        63383      Warrenton                                     Single Family
FL                        33917      Fort Myers                                    2-4 Family
TX                        75070      Mckinney                                      Townhouse
TX                        77043      Houston                                       Single Family
TX                        75056      The Colony                                    Single Family
TX                        75070      Mckinney                                      PUD
IL                        60445      Crestwood                                     Condominium
TX                        75075      Plano                                         Single Family
UT                        84015      West Point                                    PUD
WA                        98584      Shelton                                       Single Family
MS                        39750      MABEN                                         Single Family
TN                        38122      Memphis                                       Single Family
TX                        78749      Austin                                        PUD
TX                        75051      Grand Prairie                                 Single Family
TX                        78223      San Antonio                                   2-4 Family
TX                        76119      Fort Worth                                    Single Family
TX                        78109      Converse                                      PUD
MO                        63304      Saint Charles                                 PUD
TX                        76114      Fort Worth                                    Single Family
TX                        75032      Rockwall                                      PUD
TX                        78212      San Antonio                                   2-4 Family
CA                        91311      (Chatsworth Area) Los Ang                     Single Family
CA                        94804      Richmond                                      Single Family
IL                        60586      Plainfield                                    PUD
IL                        60609      Chicago                                       Single Family
FL                        34474      OCALA                                         Condominium
NV                        89015      Henderson                                     Single Family
AZ                        85383      Peoria                                        Single Family
NV                        89044      Henderson                                     PUD
NV                        89148      Las Vegas                                     PUD
FL                        32256      JACKSONVILLE                                  Condominium
NC                        28173      WAXHAW                                        PUD
IL                        60585      PLAINFIELD                                    PUD
TX                        75034      FRISCO                                        PUD
CO                        80910      COLORADO SPRINGS                              PUD
FL                        33544      WESLEY CHAPEL                                 Single Family
AZ                        85086      ANTHEM                                        PUD
NV                        89084      NORTH LAS VEGAS                               Single Family
FL                        33544      WESLEY CHAPEL                                 Single Family
AZ                        85383      Peoria                                        Single Family
TX                        77095      HOUSTON                                       PUD
FL                        34747      KISSIMMEE                                     PUD
IL                        60462      Orland Park                                   Single Family
MI                        48197      YPSILANTI                                     Single Family
VA                        22079      LORTON                                        PUD
IL                        60585      PLAINFIELD                                    Single Family
FL                        32819      ORLANDO                                       Condominium
CA                        92223      Beaumont                                      PUD
FL                        32828      ORLANDO                                       PUD
NV                        89044      HENDERSON                                     PUD
FL                        34474      OCALA                                         Condominium
NM                        87124      RIO RANCHO                                    PUD
PA                        18069      OREFIELD                                      PUD
UT                        84029      GRANTSVILLE                                   PUD
CO                        81004      PUEBLO                                        PUD
CO                        80903      COLORADO SPRINGS                              2-4 Family
UT                        84037      KAYSVILLE                                     Single Family
CO                        81004      PUEBLO                                        Single Family
UT                        84118      SALT LAKE CITY                                Single Family
CO                        80904      COLORADO SPRINGS                              2-4 Family
UT                        84040      LAYTON                                        Single Family
TX                        76048      GRANBURY                                      PUD
UT                        84015      CLINTON                                       Single Family
UT                        84078      VERNAL                                        PUD
CO                        81004      PUEBLO                                        Single Family
UT                        84067      ROY                                           Single Family
CO                        80922      Colorado Springs                              Single Family
CO                        81004      PUEBLO                                        Single Family
UT                        84121      COTTONWOOD HEIGHTS CITY                       Single Family
UT                        84105      Salt Lake City                                Single Family
NV                        89015      Henderson                                     PUD
NV                        89115      Las Vegas                                     Single Family
NV                        89104      Las Vegas                                     Single Family
NV                        89115      Las Vegas                                     Single Family
NV                        89031      North Las Vegas                               Single Family
NV                        89110      Las Vegas                                     Single Family
MA                         2536      EAST FALMOUTH                                 Single Family
IL                        60194      SCHAUMBURG                                    Condominium
CA                        90068      LOS ANGELES                                   Single Family
MA                         2122      DORCHESTER                                    Single Family
CA                        94704      BERKELEY                                      2-4 Family
CO                        80229      DENVER                                        Single Family
MI                        48036      CLINTON TOWNSHIP                              Condominium
MA                         2740      NEW BEDFORD                                   2-4 Family
MA                         1702      FRAMINGHAM                                    Single Family
VA                        23666      HAMPTON                                       Condominium
CA                        96001      REDDING                                       2-4 Family
ME                         4002      Lyman                                         Single Family
ME                         4015      Casco                                         Single Family
NH                         3878      SOMERSWORTH                                   Single Family
AZ                        85040      Phoenix                                       PUD
MO                        63134      WOODSON TERRACE                               Single Family
OK                        74354      MIAMI                                         Single Family
OH                        44437      Mc Donald                                     Single Family
OK                        74110      TULSA                                         Single Family
OK                        74126      Tulsa                                         Single Family
OH                        43614      TOLEDO                                        Single Family
OK                        73084      Spencer                                       Single Family
AZ                        85374      SURPRISE                                      Single Family
AZ                        85033      PHOENIX                                       Single Family
FL                        32210      JACKSONVILLE                                  Condominium
OK                        74354      MIAMI                                         Single Family
TX                        78725      AUSTIN                                        Single Family
OK                        74126      Tulsa                                         Single Family
OK                        74126      TULSA                                         Single Family
MI                        49509      WYOMING                                       Single Family
TX                        79938      EL PASO                                       Single Family
TX                        79423      Lubbock                                       Single Family
TX                        79938      EL PASO                                       Single Family
TX                        79410      LUBBOCK                                       Single Family
TX                        76201      DENTON                                        2-4 Family
TX                        77070      HOUSTON                                       PUD
AR                        72758      ROGERS                                        Single Family
TX                        79410      LUBBOCK                                       Single Family
TX                        79413      Lubbock                                       Single Family
FL                        32726      Eustis                                        Single Family
TX                        76201      DENTON                                        2-4 Family
TX                        78213      SAN ANTONIO                                   2-4 Family
UT                        84047      Midvale                                       Single Family
TX                        78247      SAN ANTONIO                                   Single Family
FL                        32082      PNTE VDRA BCH                                 Condominium
UT                        84336      SNOWVILLE                                     Single Family
FL                        33903      N Ft Myers                                    Single Family
TX                        79029      DUMAS                                         Single Family
FL                        33990      CAPE CORAL                                    Single Family
TX                        77478      SUGAR LAND                                    Townhouse
FL                        32792      ALOMA                                         Single Family
UT                        84106      SALT LAKE                                     Condominium
TX                        77450      KATY                                          PUD
FL                        33605      TAMPA                                         Single Family
FL                        32765      OVIEDO                                        Single Family
UT                        84043      EAGLE MOUNTAIN                                Condominium
CO                        80922      CO SPGS                                       Single Family
TX                        76034      COLLEYVILLE                                   PUD
ID                        83262      PINGREE                                       Single Family
CO                        80920      CO SPGS                                       Single Family
UT                        84655      SANTAQUIN                                     Single Family
FL                        32819      ORLANDO                                       2-4 Family
UT                        84116      SALT LAKE CITY                                Single Family
TX                        75119      ENNIS                                         Single Family
UT                        84084      W JORDAN                                      Single Family
TX                        78539      EDINBURG                                      Single Family
CA                        93704      FRESNO                                        Single Family
TX                        76082      SPRINGTOWN                                    Single Family
OR                        97756      REDMOND                                       2-4 Family
UT                        84660      SPANISH FORK                                  Single Family
FL                        32277      JACKSONVILLE                                  Single Family
FL                        32966      VERO BEACH                                    Single Family
FL                        32526      PENSACOLA                                     Single Family
TX                        75154      Red Oak                                       Single Family
CO                        80919      CO SPGS                                       PUD
CO                        81226      FLORENCE                                      PUD
TX                        77469      RICHMOND                                      PUD
CO                        80863      WOODLAND PARK                                 Single Family
FL                        32208      JACKSONVILLE                                  Single Family
CA                        95210      STOCKTON                                      Single Family
TX                        77064      HOUSTON                                       PUD
FL                        32211      JACKSONVILLE                                  Single Family
UT                        84062      CEDAR HILLS                                   PUD
TX                        78664      ROUND ROCK                                    PUD
UT                        84107      MURRAY                                        2-4 Family
WA                        99301      PASCO                                         Single Family
UT                        84010      BOUNTIFUL                                     Condominium
TX                        78064      PLEASANTON                                    Single Family
CA                        95864      SACRAMENTO                                    Single Family
FL                        34668      PORT RICHEY                                   Condominium
TX                        77450      KATY                                          PUD
CO                        80220      DENVER                                        Single Family
TX                        78759      AUSTIN                                        2-4 Family
CA                        90016      LOS ANGELES                                   Single Family
FL                        32967      VERO BEACH                                    PUD
CA                        94571      RIO VISTA                                     PUD
NC                        28278      CHARLOTTE                                     PUD
TX                        79912      El Paso                                       Single Family
MI                        48239      Redford                                       Single Family
IL                        60630      Chicago                                       2-4 Family
MI                        48126      Dearborn                                      2-4 Family
OH                        44134      Parma                                         Single Family
MI                        48228      Detroit                                       Single Family
NV                        89147      Las Vegas                                     Single Family
OH                        43062      PATASKALA                                     Single Family
CA                        92506      Riverside                                     Single Family
CA                        90222      Compton                                       Single Family
VA                        23321      Chesapeake                                    Single Family
MD                        20735      Clinton                                       PUD
MD                        21223      BALTIMORE                                     Townhouse
VA                        23462      VIRGINIA BCH                                  Single Family
VA                        24551      Forest                                        PUD
GA                        30308      ATLANTA                                       Single Family
VA                        20144      Delaplane                                     Single Family
CT                         6095      Windsor                                       Single Family
GA                        30344      East Point                                    Condominium
ME                         4654      Roque Bluffs                                  Single Family
GA                        30215      Fayetteville                                  Single Family
GA                        30260      Morrow                                        PUD
MI                        49576      LEWISTON                                      Single Family
NV                        89149      Las Vegas                                     PUD
NV                        89129      Las Vegas                                     Single Family
NV                        89115      Las Vegas                                     Single Family
ID                        83687      Nampa                                         Single Family
AZ                        85303      Glendale                                      Single Family
MI                        48089      WARREN                                        Single Family
MI                        48223      Detroit                                       Single Family
TX                        78626      Georgetown                                    2-4 Family
TX                        78626      Georgetown                                    2-4 Family
NE                        68106      Omaha                                         Single Family
CA                        93534      Lancaster                                     2-4 Family
AZ                        85335      EL MIRAGE                                     Single Family
AZ                        85335      EL MIRAGE                                     Single Family
AZ                        85242      QUEEN CREEK                                   Single Family
AZ                        85239      MARICOPA                                      PUD
AZ                        85326      BUCKEYE                                       PUD
AZ                        85239      MARICOPA                                      Single Family
AZ                        85364      YUMA                                          Single Family
IL                        60617      Chicago                                       Single Family
NC                        28658      Newton                                        Single Family
TN                        37122      Mount Juliet                                  Single Family
TX                        77707      Beaumont                                      Single Family
TX                        76017      Arlington                                     Single Family
TX                        78504      Mcallen                                       Single Family
TX                        76706      Waco                                          Condominium
TX                        75217      Dallas                                        Single Family
OH                        44104      CLEVELAND                                     2-4 Family
SC                        29588      MYRTLE BEACH                                  Condominium
GA                        31558      SAINT MARYS                                   Single Family
GA                        31008      BYRON                                         Single Family
GA                        30705      CHATSWORTH                                    Condominium
GA                        30068      MARIETTA                                      Single Family
MI                        48912      LANSING                                       Single Family
MI                        48089      WARREN                                        Single Family
MI                        48219      DETROIT                                       Single Family
GA                        31326      RINCON                                        Single Family
MI                        48146      LINCOLN PARK                                  Single Family
MI                        48205      Detroit                                       Single Family
MN                        55955      MANTORVILLE                                   Single Family
CA                        90220      Compton                                       2-4 Family
WA                        98038      Maple Valley                                  Single Family
CA                        95351      Modesto                                       Single Family
PA                        19151      Philadelphia                                  2-4 Family
DE                        19805      Wilmington                                    Townhouse
PA                        19428      West Conshohocken                             2-4 Family
NJ                         8083      Somerdale                                     Single Family
PA                        18940      Newtown                                       Condominium
PA                        19146      Philadelphia                                  Townhouse
NJ                         8234      Egg Harbor Township                           Condominium
NJ                         8012      Blackwood                                     Single Family
NJ                         8081      Sicklerville                                  2-4 Family
PA                        19147      Philadelphia                                  Single Family
NJ                         8037      Hammonton                                     2-4 Family
PA                        19128      Philadelphia                                  Single Family
PA                        19335      Downingtown                                   Single Family
NJ                         8401      Atlantic City                                 Condominium
NJ                         8332      Millville                                     Single Family
PA                        19020      Bensalem                                      Townhouse
PA                        19147      Philadelphia                                  Single Family
DE                        19805      Wilmington                                    Single Family
NJ                         8330      Mays Landing                                  Townhouse
DE                        19806      Wilmington                                    Single Family
PA                        19007      Bristol                                       Single Family
IN                        46706      AUBURN                                        Single Family
FL                        32208      JACKSONVILLE                                  Single Family
CO                        81501      Grand Junction                                Single Family
WI                        53210      Milwaukee                                     Single Family
WI                        53081      SHEBOYGAN                                     Single Family
WI                        53215      Milwaukee                                     2-4 Family
MN                        56308      ALEXEXANDRIA                                  Single Family
WI                        53208      MILWAUKEE                                     2-4 Family
MN                        56308      ALEX                                          2-4 Family
IA                        52722      BETTENDORF                                    Single Family
VA                        23703      PORTSMOUTH                                    Single Family
MD                        21216      BALTIMORE                                     2-4 Family
GA                        30720      DALTON                                        Single Family
IL                        61265      MOLINE                                        Single Family
VA                        24502      LYNCHBURG                                     Condominium
FL                        32225      JACKSONVILLE                                  PUD
VA                        23970      SOUTH HILL                                    Single Family
NJ                         7302      Jersey City                                   2-4 Family
NJ                         7305      Jersey City                                   2-4 Family
NJ                         7305      Jersey City                                   2-4 Family
TX                        77356      MONTGOMERY                                    PUD
MI                        48015      CENTER LINE                                   Single Family
CA                        94589      VALLEJO                                       Single Family
CA                        92325      CRESTLINE                                     Single Family
CO                        80207      DENVER                                        Single Family
MA                         2119      Boston                                        Condominium
TX                        78233      SAN ANTONIO                                   PUD
MA                         2302      BROCKTON                                      Single Family
TX                        78218      San Antonio                                   Single Family
VA                        23435      Suffolk                                       Single Family
NH                         3755      Hanover                                       Single Family
MA                         1331      ATHOL                                         2-4 Family
RI                         2907      Providence                                    2-4 Family
IL                        60451      NEW LENOX                                     Single Family
AZ                        85254      Scottsdale                                    PUD
WA                        98503      LACEY                                         Single Family
MA                         2186      MILTON                                        Condominium
MO                        65807      Springfield                                   Single Family
WI                        53537      Footville                                     2-4 Family
GA                        30349      College Park                                  Single Family
MO                        64093      Warrensburg                                   PUD
MO                        64093      Warrensburg                                   PUD
MI                        48066      Roseville                                     Single Family
WI                        53534      Edgerton                                      2-4 Family
OH                        44118      Cleveland Heights                             2-4 Family
FL                        32680      Old Town                                      Single Family
WI                        53537      Footville                                     2-4 Family
MO                        64154      Kansas City                                   Single Family
AZ                        85251      Scottsdale                                    Condominium
NH                         3060      Nashua                                        2-4 Family
WI                        53548      Janesville                                    2-4 Family
MO                        64093      Warrensburg                                   PUD
AZ                        85020      PHOENIX                                       Single Family
AZ                        85748      TUCSON                                        PUD
VA                        23603      LEE HALL                                      PUD
VA                        23504      NORFOLK                                       Single Family
TX                        78201      SAN ANTONIO                                   Single Family
TX                        75569      NASH                                          Single Family
TX                        76210      CORINTH                                       PUD
TX                        76013      ARLINGTON                                     Single Family
CO                        80249      DENVER                                        Condominium
TX                        75070      MC KINNEY                                     PUD
TX                        75032      ROCKWALL                                      PUD
TX                        78245      SAN ANTONIO                                   Single Family
TX                        75462      PARIS                                         Single Family
TX                        78258      SAN ANTONIO                                   PUD
TX                        76114      FORT WORTH                                    Single Family
TX                        78247      SAN ANTONIO                                   PUD
TX                        78239      SAN ANTONIO                                   Single Family
TX                        78250      SAN ANTONIO                                   PUD
TX                        75032      ROCKWALL                                      PUD

STATE            CURRENT_GROSS                 SERV_FEE            LPMI           TRUSTFEE            MSERV
                 _COUPON
-----------------------------------------------------------------------------------------------------------------
VA                                 7.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 6.7500              0.2500        0.0000               0.0000          0.0165
DC                                 7.0000              0.2500        0.0000               0.0000          0.0165
MD                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.6250              0.2500        0.0000               0.0000          0.0165
VA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MD                                 7.3750              0.2500        0.0000               0.0000          0.0165
VA                                 7.3750              0.2500        0.0000               0.0000          0.0165
PA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
PA                                 7.8750              0.2500        0.0000               0.0000          0.0165
MD                                 6.8750              0.2500        0.0000               0.0000          0.0165
MD                                 6.8750              0.2500        0.0000               0.0000          0.0165
VA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
VA                                 7.0000              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
MD                                 7.3750              0.2500        0.0000               0.0000          0.0165
MD                                 7.2500              0.2500        0.0000               0.0000          0.0165
DE                                 7.5000              0.2500        0.0000               0.0000          0.0165
DE                                 7.2500              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
DE                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 7.1250              0.2500        0.0000               0.0000          0.0165
MD                                 6.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
UT                                 7.5000              0.2500        0.0000               0.0000          0.0165
ID                                 7.5000              0.2500        0.0000               0.0000          0.0165
NY                                 7.8750              0.2500        0.0000               0.0000          0.0165
NY                                 7.7500              0.2500        0.0000               0.0000          0.0165
NY                                 7.0000              0.2500        0.0000               0.0000          0.0165
NY                                 8.7500              0.2500        0.0000               0.0000          0.0165
MS                                 7.6250              0.2500        0.0000               0.0000          0.0165
NY                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
NY                                 7.3750              0.2500        0.0000               0.0000          0.0165
NY                                 8.7500              0.2500        0.0000               0.0000          0.0165
NJ                                 7.7500              0.2500        0.0000               0.0000          0.0165
NY                                 8.8750              0.2500        0.0000               0.0000          0.0165
NY                                 8.5000              0.2500        0.0000               0.0000          0.0165
NY                                 7.1250              0.2500        0.0000               0.0000          0.0165
NJ                                 7.2500              0.2500        0.0000               0.0000          0.0165
NY                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
NY                                 8.0000              0.2500        0.0000               0.0000          0.0165
NY                                 8.7500              0.2500        0.0000               0.0000          0.0165
NY                                 7.2500              0.2500        0.0000               0.0000          0.0165
NY                                 7.1250              0.2500        0.0000               0.0000          0.0165
NY                                 7.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 8.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.6250              0.2500        0.0000               0.0000          0.0165
FL                                 8.2500              0.2500        0.0000               0.0000          0.0165
NC                                 8.6250              0.2500        0.0000               0.0000          0.0165
PA                                 8.0000              0.2500        0.0000               0.0000          0.0165
PA                                 8.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.1250              0.2500        0.0000               0.0000          0.0165
NJ                                 8.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 9.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.7500              0.2500        0.0000               0.0000          0.0165
NJ                                 8.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.6250              0.2500        0.0000               0.0000          0.0165
PA                                 8.0000              0.2500        0.0000               0.0000          0.0165
PA                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
NJ                                 8.2500              0.2500        0.0000               0.0000          0.0165
NJ                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
NC                                 7.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 9.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.5000              0.2500        0.0000               0.0000          0.0165
FL                                 8.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 8.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
SC                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
OK                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
WA                                 7.8750              0.2500        0.0000               0.0000          0.0165
OH                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
OR                                 7.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
OK                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
NM                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 9.0000              0.2500        0.0000               0.0000          0.0165
FL                                 8.7500              0.2500        0.0000               0.0000          0.0165
PA                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 8.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 8.2500              0.2500        0.0000               0.0000          0.0165
NJ                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
CO                                 8.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
CO                                 7.0000              0.2500        0.0000               0.0000          0.0165
CO                                 7.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.2500              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.1250              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
AL                                 7.6250              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.1250              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
TN                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
TN                                 7.0000              0.2500        0.0000               0.0000          0.0165
TN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
LA                                 7.3750              0.2500        0.0000               0.0000          0.0165
TN                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 9.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 8.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.6250              0.2500        0.0000               0.0000          0.0165
PA                                 8.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.1250              0.2500        0.0000               0.0000          0.0165
PA                                 7.8750              0.2500        0.0000               0.0000          0.0165
PA                                 6.8750              0.2500        0.0000               0.0000          0.0165
PA                                 7.0000              0.2500        0.0000               0.0000          0.0165
NY                                 6.8750              0.2500        0.0000               0.0000          0.0165
PA                                 7.8750              0.2500        0.0000               0.0000          0.0165
PA                                 8.3750              0.2500        0.0000               0.0000          0.0165
PA                                 8.1250              0.2500        0.0000               0.0000          0.0165
PA                                 7.0000              0.2500        0.0000               0.0000          0.0165
PA                                 9.1250              0.2500        0.0000               0.0000          0.0165
NY                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.0000              0.2500        0.0000               0.0000          0.0165
NY                                 7.2500              0.2500        0.0000               0.0000          0.0165
NY                                 6.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.1250              0.2500        0.0000               0.0000          0.0165
NY                                 7.1250              0.2500        0.0000               0.0000          0.0165
NY                                 8.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 6.3750              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 6.3750              0.2500        0.0000               0.0000          0.0165
AR                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
IL                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 6.6250              0.2500        0.0000               0.0000          0.0165
SC                                 8.3750              0.2500        0.0000               0.0000          0.0165
CO                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
IN                                 7.3750              0.2500        0.0000               0.0000          0.0165
MO                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 8.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 9.1250              0.2500        0.0000               0.0000          0.0165
NY                                 7.0000              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.5000              0.2500        0.0000               0.0000          0.0165
VA                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                10.0000              0.2500        0.0000               0.0000          0.0165
TX                                 9.3750              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 9.6250              0.2500        0.0000               0.0000          0.0165
WA                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 7.3750              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
NC                                 7.0000              0.2500        0.0000               0.0000          0.0165
CO                                 8.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
CO                                 8.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
MN                                 7.3750              0.2500        0.0000               0.0000          0.0165
MN                                 6.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
IL                                 7.7500              0.2500        0.0000               0.0000          0.0165
IL                                 8.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
NC                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 9.0000              0.2500        0.0000               0.0000          0.0165
UT                                 7.3750              0.2500        0.0000               0.0000          0.0165
CA                                 6.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MD                                 7.5000              0.2500        0.0000               0.0000          0.0165
MI                                 6.8750              0.2500        0.0000               0.0000          0.0165
KY                                 7.7500              0.2500        0.0000               0.0000          0.0165
OH                                 6.8750              0.2500        0.0000               0.0000          0.0165
NV                                 7.5000              0.2500        0.0000               0.0000          0.0165
WA                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 7.0000              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
OR                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 6.5000              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 6.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 8.2500              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
ID                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
KY                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
AR                                 8.2500              0.2500        0.0000               0.0000          0.0165
AR                                 7.8750              0.2500        0.0000               0.0000          0.0165
OR                                 7.3750              0.2500        0.0000               0.0000          0.0165
MD                                 8.2500              0.2500        0.0000               0.0000          0.0165
ID                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
ID                                 7.5000              0.2500        0.0000               0.0000          0.0165
VA                                 7.1250              0.2500        0.0000               0.0000          0.0165
NJ                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
VA                                 7.3750              0.2500        0.0000               0.0000          0.0165
OR                                 7.6250              0.2500        0.0000               0.0000          0.0165
OR                                 6.8750              0.2500        0.0000               0.0000          0.0165
OR                                 7.5000              0.2500        0.0000               0.0000          0.0165
ID                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
PA                                 8.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
KY                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
MD                                 6.8750              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
IN                                 7.5000              0.2500        0.0000               0.0000          0.0165
OH                                 7.2500              0.2500        0.0000               0.0000          0.0165
KY                                 7.5000              0.2500        0.0000               0.0000          0.0165
IN                                 8.0000              0.2500        0.0000               0.0000          0.0165
KY                                 8.1250              0.2500        0.0000               0.0000          0.0165
OH                                 8.0000              0.2500        0.0000               0.0000          0.0165
IN                                 8.7500              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
KY                                 7.6250              0.2500        0.0000               0.0000          0.0165
IN                                 7.5000              0.2500        0.0000               0.0000          0.0165
OH                                 8.2500              0.2500        0.0000               0.0000          0.0165
TN                                 7.5000              0.2500        0.0000               0.0000          0.0165
OH                                 8.7500              0.2500        0.0000               0.0000          0.0165
KY                                 7.6250              0.2500        0.0000               0.0000          0.0165
IN                                 8.2500              0.2500        0.0000               0.0000          0.0165
KY                                 7.5000              0.2500        0.0000               0.0000          0.0165
HI                                 6.6250              0.2500        0.0000               0.0000          0.0165
HI                                 6.6250              0.2500        0.0000               0.0000          0.0165
CO                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
CO                                 7.3750              0.2500        0.0000               0.0000          0.0165
CO                                 7.1250              0.2500        0.0000               0.0000          0.0165
CO                                 7.7500              0.2500        0.0000               0.0000          0.0165
IL                                 8.1250              0.2500        0.0000               0.0000          0.0165
WY                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
DC                                 6.8750              0.2500        0.0000               0.0000          0.0165
VA                                 8.2500              0.2500        0.0000               0.0000          0.0165
NJ                                 6.8750              0.2500        0.0000               0.0000          0.0165
ME                                 7.2500              0.2500        0.0000               0.0000          0.0165
VA                                 7.8750              0.2500        0.0000               0.0000          0.0165
VA                                 6.8750              0.2500        0.0000               0.0000          0.0165
DE                                 7.3750              0.2500        0.0000               0.0000          0.0165
ID                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 6.8750              0.2500        0.0000               0.0000          0.0165
SC                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
SC                                 7.6250              0.2500        0.0000               0.0000          0.0165
SC                                 7.7500              0.2500        0.0000               0.0000          0.0165
NC                                 8.1250              0.2500        0.0000               0.0000          0.0165
MN                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
KS                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
MO                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
AZ                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
MO                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
MO                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
NC                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 9.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TN                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
NC                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.1250              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
NM                                 7.5000              0.2500        0.0000               0.0000          0.0165
CO                                 6.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.7500              0.2500        0.0000               0.0000          0.0165
OH                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 9.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
OH                                 6.7500              0.2500        0.0000               0.0000          0.0165
FL                                 6.3750              0.2500        0.0000               0.0000          0.0165
OH                                 8.6250              0.2500        0.0000               0.0000          0.0165
FL                                 8.5000              0.2500        0.0000               0.0000          0.0165
NY                                 6.7500              0.2500        0.0000               0.0000          0.0165
NY                                 5.8750              0.2500        0.0000               0.0000          0.0165
TN                                 8.2500              0.2500        0.0000               0.0000          0.0165
RI                                 7.5000              0.2500        0.0000               0.0000          0.0165
NY                                 7.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.7500              0.2500        0.0000               0.0000          0.0165
PA                                 9.1250              0.2500        0.0000               0.0000          0.0165
CT                                 7.6250              0.2500        0.0000               0.0000          0.0165
RI                                 7.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.8750              0.2500        0.0000               0.0000          0.0165
OK                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 6.5000              0.2500        0.0000               0.0000          0.0165
OK                                 7.2500              0.2500        0.0000               0.0000          0.0165
OK                                 9.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
OK                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.0000              0.2500        0.0000               0.0000          0.0165
MD                                 7.0000              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 7.7500              0.2500        0.0000               0.0000          0.0165
DC                                 6.8750              0.2500        0.0000               0.0000          0.0165
NC                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 7.3750              0.2500        0.0000               0.0000          0.0165
MD                                 7.0000              0.2500        0.0000               0.0000          0.0165
NC                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
ME                                 6.5000              0.2500        0.0000               0.0000          0.0165
MA                                 6.8750              0.2500        0.0000               0.0000          0.0165
RI                                 6.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.0000              0.2500        0.0000               0.0000          0.0165
CA                                 7.1250              0.2500        0.0000               0.0000          0.0165
CT                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.6250              0.2500        0.0000               0.0000          0.0165
SC                                 7.3750              0.2500        0.0000               0.0000          0.0165
AL                                 7.6250              0.2500        0.0000               0.0000          0.0165
VA                                 6.6250              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.3750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 7.7500              0.2500        0.0000               0.0000          0.0165
NC                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
WA                                 8.0000              0.2500        0.0000               0.0000          0.0165
WA                                 8.7500              0.2500        0.0000               0.0000          0.0165
KS                                 7.8750              0.2500        0.0000               0.0000          0.0165
IN                                 7.8750              0.2500        0.0000               0.0000          0.0165
WA                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
IL                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 8.6250              0.2500        0.0000               0.0000          0.0165
IL                                 8.2500              0.2500        0.0000               0.0000          0.0165
NY                                 7.6250              0.2500        0.0000               0.0000          0.0165
PA                                 9.0000              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
MI                                 9.1250              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 9.5000              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
NM                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.1250              0.2500        0.0000               0.0000          0.0165
PA                                 7.8750              0.2500        0.0000               0.0000          0.0165
NV                                 8.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 6.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.1250              0.2500        0.0000               0.0000          0.0165
MD                                 7.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 6.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
NY                                 7.8750              0.2500        0.0000               0.0000          0.0165
NY                                 7.5000              0.2500        0.0000               0.0000          0.0165
NY                                 7.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 8.2500              0.2500        0.0000               0.0000          0.0165
PA                                 7.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
NY                                 6.7500              0.2500        0.0000               0.0000          0.0165
NY                                 6.7500              0.2500        0.0000               0.0000          0.0165
NY                                 7.1250              0.2500        0.0000               0.0000          0.0165
UT                                 8.0000              0.2500        0.0000               0.0000          0.0165
OR                                 6.8750              0.2500        0.0000               0.0000          0.0165
ID                                 8.7500              0.2500        0.0000               0.0000          0.0165
WA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
WA                                 7.6250              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 8.5000              0.2500        0.0000               0.0000          0.0165
VA                                 7.2500              0.2500        0.0000               0.0000          0.0165
MD                                 8.5000              0.2500        0.0000               0.0000          0.0165
MD                                 8.5000              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
MD                                 8.5000              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
IA                                 8.6250              0.2500        0.0000               0.0000          0.0165
SC                                 8.0000              0.2500        0.0000               0.0000          0.0165
MD                                 9.1250              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 7.0000              0.2500        0.0000               0.0000          0.0165
WA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 9.0000              0.2500        0.0000               0.0000          0.0165
SC                                 9.0000              0.2500        0.0000               0.0000          0.0165
SC                                 9.1250              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
SC                                 7.2500              0.2500        0.0000               0.0000          0.0165
NV                                 6.5000              0.2500        0.0000               0.0000          0.0165
CO                                 6.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.3750              0.2500        0.0000               0.0000          0.0165
UT                                 6.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
NC                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.3750              0.2500        0.0000               0.0000          0.0165
NC                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.5000              0.2500        0.0000               0.0000          0.0165
GA                                 6.3750              0.2500        0.0000               0.0000          0.0165
NC                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.5000              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
NC                                 8.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.5000              0.2500        0.0000               0.0000          0.0165
FL                                 6.7500              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
NJ                                 6.8750              0.2500        0.0000               0.0000          0.0165
NY                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 6.7500              0.2500        0.0000               0.0000          0.0165
NJ                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
MO                                 7.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.2500              0.2500        0.0000               0.0000          0.0165
VA                                 7.2500              0.2500        0.0000               0.0000          0.0165
OH                                 6.5000              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
OH                                 7.5000              0.2500        0.0000               0.0000          0.0165
OH                                 7.0000              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
OH                                 5.9900              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
MI                                 6.6250              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
IN                                 7.0000              0.2500        0.0000               0.0000          0.0165
IN                                 6.7500              0.2500        0.0000               0.0000          0.0165
OH                                 5.8750              0.2500        0.0000               0.0000          0.0165
UT                                 7.5000              0.2500        0.0000               0.0000          0.0165
UT                                 7.7500              0.2500        0.0000               0.0000          0.0165
MN                                 7.8750              0.2500        0.0000               0.0000          0.0165
MN                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 6.5000              0.2500        0.0000               0.0000          0.0165
TN                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
CA                                 6.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
AZ                                 8.2500              0.2500        0.0000               0.0000          0.0165
OR                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
WI                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
ID                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
WA                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
WA                                 7.0000              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
IN                                 8.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
MN                                 7.5000              0.2500        0.0000               0.0000          0.0165
MN                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
NC                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
NM                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 9.1250              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
CO                                 7.2500              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MA                                 8.6250              0.2500        0.0000               0.0000          0.0165
VA                                 7.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
LA                                 7.8750              0.2500        0.0000               0.0000          0.0165
UT                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
IL                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.8750              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
SC                                 8.7500              0.2500        0.0000               0.0000          0.0165
IL                                 8.8750              0.2500        0.0000               0.0000          0.0165
MD                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.2500              0.2500        0.0000               0.0000          0.0165
AL                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
AL                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
MS                                 7.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.0000              0.2500        0.0000               0.0000          0.0165
AL                                 7.3750              0.2500        0.0000               0.0000          0.0165
NC                                 8.0000              0.2500        0.0000               0.0000          0.0165
GA                                 8.1250              0.2500        0.0000               0.0000          0.0165
NC                                 8.0000              0.2500        0.0000               0.0000          0.0165
WI                                 7.7500              0.2500        0.0000               0.0000          0.0165
MI                                 7.7500              0.2500        0.0000               0.0000          0.0165
MA                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
CA                                 8.5000              0.2500        0.0000               0.0000          0.0165
NV                                 8.3750              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.5000              0.2500        0.0000               0.0000          0.0165
NV                                 7.3750              0.2500        0.0000               0.0000          0.0165
NV                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 6.8750              0.2500        0.0000               0.0000          0.0165
CT                                 8.2500              0.2500        0.0000               0.0000          0.0165
MA                                 6.8750              0.2500        0.0000               0.0000          0.0165
NJ                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 8.1250              0.2500        0.0000               0.0000          0.0165
CA                                 8.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
OH                                 8.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
HI                                 7.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 5.8750              0.2500        0.0000               0.0000          0.0165
IL                                10.5000              0.2500        0.0000               0.0000          0.0165
OH                                 6.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 9.6250              0.2500        0.0000               0.0000          0.0165
FL                                 9.5000              0.2500        0.0000               0.0000          0.0165
LA                                 8.5000              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
FL                                 6.3750              0.2500        0.0000               0.0000          0.0165
AZ                                 8.6250              0.2500        0.0000               0.0000          0.0165
WI                                 6.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.5000              0.2500        0.0000               0.0000          0.0165
WA                                 9.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
OH                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 8.5000              0.2500        0.0000               0.0000          0.0165
LA                                 6.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
AL                                 8.0000              0.2500        0.0000               0.0000          0.0165
NC                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
AL                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 7.5000              0.2500        0.0000               0.0000          0.0165
AL                                 7.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
AL                                 7.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
OH                                 6.6250              0.2500        0.0000               0.0000          0.0165
MD                                 6.8750              0.2500        0.0000               0.0000          0.0165
VA                                 7.6250              0.2500        0.0000               0.0000          0.0165
OH                                 6.8750              0.2500        0.0000               0.0000          0.0165
OH                                 7.1250              0.2500        0.0000               0.0000          0.0165
OH                                 6.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 8.0000              0.2500        0.0000               0.0000          0.0165
PA                                 7.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 8.1250              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
OH                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
MA                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.0000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 6.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
NC                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.5000              0.2500        0.0000               0.0000          0.0165
GA                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
SC                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 6.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.0000              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.7500              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.8750              0.2500        0.0000               0.0000          0.0165
WY                                 7.3750              0.2500        0.0000               0.0000          0.0165
CO                                 7.7500              0.2500        0.0000               0.0000          0.0165
CO                                 7.2500              0.2500        0.0000               0.0000          0.0165
AR                                 6.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.7500              0.2500        0.0000               0.0000          0.0165
CA                                 6.8750              0.2500        0.0000               0.0000          0.0165
CA                                 6.7500              0.2500        0.0000               0.0000          0.0165
FL                                 6.6250              0.2500        0.0000               0.0000          0.0165
CA                                 6.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 8.0000              0.2500        0.0000               0.0000          0.0165
NY                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
IN                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 6.7500              0.2500        0.0000               0.0000          0.0165
TX                                 6.7500              0.2500        0.0000               0.0000          0.0165
IN                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
IA                                 9.0000              0.2500        0.0000               0.0000          0.0165
TX                                 6.7500              0.2500        0.0000               0.0000          0.0165
MS                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
IN                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
AL                                 9.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
SC                                 7.5000              0.2500        0.0000               0.0000          0.0165
TN                                 7.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.2500              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
AL                                 6.8750              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 6.8750              0.2500        0.0000               0.0000          0.0165
SC                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.3750              0.2500        0.0000               0.0000          0.0165
GA                                 8.2500              0.2500        0.0000               0.0000          0.0165
TN                                 7.2500              0.2500        0.0000               0.0000          0.0165
NC                                 8.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.7500              0.2500        0.0000               0.0000          0.0165
GA                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
GA                                 7.6250              0.2500        0.0000               0.0000          0.0165
NC                                 7.2500              0.2500        0.0000               0.0000          0.0165
MI                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
KS                                 8.0000              0.2500        0.0000               0.0000          0.0165
OR                                 7.6250              0.2500        0.0000               0.0000          0.0165
MO                                 7.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
IL                                 6.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
UT                                 7.6250              0.2500        0.0000               0.0000          0.0165
WA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MS                                 7.8750              0.2500        0.0000               0.0000          0.0165
TN                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
MO                                 6.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
IL                                 7.6250              0.2500        0.0000               0.0000          0.0165
IL                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
NV                                 7.8750              0.2500        0.0000               0.0000          0.0165
NV                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
NC                                 6.7500              0.2500        0.0000               0.0000          0.0165
IL                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
CO                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.1250              0.2500        0.0000               0.0000          0.0165
NV                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 6.7500              0.2500        0.0000               0.0000          0.0165
FL                                 8.7500              0.2500        0.0000               0.0000          0.0165
IL                                 7.7500              0.2500        0.0000               0.0000          0.0165
MI                                 7.7500              0.2500        0.0000               0.0000          0.0165
VA                                 8.0000              0.2500        0.0000               0.0000          0.0165
IL                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
FL                                 8.3750              0.2500        0.0000               0.0000          0.0165
NV                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
NM                                 7.1250              0.2500        0.0000               0.0000          0.0165
PA                                 7.0000              0.2500        0.0000               0.0000          0.0165
UT                                 7.2500              0.2500        0.0000               0.0000          0.0165
CO                                 8.5000              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
UT                                 9.1250              0.2500        0.0000               0.0000          0.0165
CO                                 8.1250              0.2500        0.0000               0.0000          0.0165
UT                                 7.7500              0.2500        0.0000               0.0000          0.0165
CO                                 7.7500              0.2500        0.0000               0.0000          0.0165
UT                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
UT                                 7.5000              0.2500        0.0000               0.0000          0.0165
UT                                 7.3750              0.2500        0.0000               0.0000          0.0165
CO                                 7.6250              0.2500        0.0000               0.0000          0.0165
UT                                 7.5000              0.2500        0.0000               0.0000          0.0165
CO                                 7.0000              0.2500        0.0000               0.0000          0.0165
CO                                 9.1250              0.2500        0.0000               0.0000          0.0165
UT                                 7.3750              0.2500        0.0000               0.0000          0.0165
UT                                 9.1250              0.2500        0.0000               0.0000          0.0165
NV                                 7.2500              0.2500        0.0000               0.0000          0.0165
NV                                 7.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.5000              0.2500        0.0000               0.0000          0.0165
NV                                 7.7500              0.2500        0.0000               0.0000          0.0165
NV                                 5.7500              0.2500        0.0000               0.0000          0.0165
NV                                 7.8750              0.2500        0.0000               0.0000          0.0165
MA                                 7.5000              0.2500        0.0000               0.0000          0.0165
IL                                 7.1250              0.2500        0.0000               0.0000          0.0165
CA                                 7.0000              0.2500        0.0000               0.0000          0.0165
MA                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.0000              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
MI                                 7.1250              0.2500        0.0000               0.0000          0.0165
MA                                 7.6250              0.2500        0.0000               0.0000          0.0165
MA                                 7.5000              0.2500        0.0000               0.0000          0.0165
VA                                 6.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
ME                                 7.5000              0.2500        0.0000               0.0000          0.0165
ME                                 8.2500              0.2500        0.0000               0.0000          0.0165
NH                                 8.5000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.6250              0.2500        0.0000               0.0000          0.0165
MO                                 7.5000              0.2500        0.0000               0.0000          0.0165
OK                                 7.6250              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
OK                                 8.6250              0.2500        0.0000               0.0000          0.0165
OK                                 8.6250              0.2500        0.0000               0.0000          0.0165
OH                                 7.6250              0.2500        0.0000               0.0000          0.0165
OK                                 8.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
OK                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
OK                                 8.7500              0.2500        0.0000               0.0000          0.0165
OK                                 8.6250              0.2500        0.0000               0.0000          0.0165
MI                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
AR                                 8.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.3750              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
UT                                 7.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
FL                                 7.2500              0.2500        0.0000               0.0000          0.0165
UT                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 6.8750              0.2500        0.0000               0.0000          0.0165
UT                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
UT                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
ID                                 7.5000              0.2500        0.0000               0.0000          0.0165
CO                                 7.8750              0.2500        0.0000               0.0000          0.0165
UT                                 7.8750              0.2500        0.0000               0.0000          0.0165
FL                                 8.1250              0.2500        0.0000               0.0000          0.0165
UT                                 6.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
UT                                 8.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
OR                                 7.1250              0.2500        0.0000               0.0000          0.0165
UT                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.6250              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
CO                                 7.1250              0.2500        0.0000               0.0000          0.0165
CO                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
CO                                 8.1250              0.2500        0.0000               0.0000          0.0165
FL                                 7.5000              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.3750              0.2500        0.0000               0.0000          0.0165
UT                                 7.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.5000              0.2500        0.0000               0.0000          0.0165
UT                                 7.7500              0.2500        0.0000               0.0000          0.0165
WA                                 7.5000              0.2500        0.0000               0.0000          0.0165
UT                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.0000              0.2500        0.0000               0.0000          0.0165
CA                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
CO                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.0000              0.2500        0.0000               0.0000          0.0165
FL                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
NC                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
MI                                 8.0000              0.2500        0.0000               0.0000          0.0165
IL                                 8.8750              0.2500        0.0000               0.0000          0.0165
MI                                 6.8750              0.2500        0.0000               0.0000          0.0165
OH                                 7.8750              0.2500        0.0000               0.0000          0.0165
MI                                 6.8750              0.2500        0.0000               0.0000          0.0165
NV                                 6.5000              0.2500        0.0000               0.0000          0.0165
OH                                 6.8750              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
CA                                 8.7500              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
MD                                 7.7500              0.2500        0.0000               0.0000          0.0165
VA                                 8.1250              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
CT                                 8.1250              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
ME                                 8.7500              0.2500        0.0000               0.0000          0.0165
GA                                 6.6250              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
MI                                 6.8750              0.2500        0.0000               0.0000          0.0165
NV                                 7.0000              0.2500        0.0000               0.0000          0.0165
NV                                 6.8750              0.2500        0.0000               0.0000          0.0165
NV                                 7.5000              0.2500        0.0000               0.0000          0.0165
ID                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.8750              0.2500        0.0000               0.0000          0.0165
MI                                 8.1250              0.2500        0.0000               0.0000          0.0165
MI                                 8.1250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
NE                                 9.1250              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.7500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.6250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
AZ                                 7.2500              0.2500        0.0000               0.0000          0.0165
AZ                                 7.3750              0.2500        0.0000               0.0000          0.0165
IL                                 7.0000              0.2500        0.0000               0.0000          0.0165
NC                                 7.1250              0.2500        0.0000               0.0000          0.0165
TN                                 6.2500              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165
TX                                 9.0000              0.2500        0.0000               0.0000          0.0165
TX                                 6.7500              0.2500        0.0000               0.0000          0.0165
TX                                 7.0000              0.2500        0.0000               0.0000          0.0165
OH                                 9.0000              0.2500        0.0000               0.0000          0.0165
SC                                 8.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MI                                 8.2500              0.2500        0.0000               0.0000          0.0165
MI                                 7.3750              0.2500        0.0000               0.0000          0.0165
MI                                 6.8750              0.2500        0.0000               0.0000          0.0165
GA                                 7.3750              0.2500        0.0000               0.0000          0.0165
MI                                 7.7500              0.2500        0.0000               0.0000          0.0165
MI                                 8.5000              0.2500        0.0000               0.0000          0.0165
MN                                 7.6250              0.2500        0.0000               0.0000          0.0165
CA                                 7.2500              0.2500        0.0000               0.0000          0.0165
WA                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.6250              0.2500        0.0000               0.0000          0.0165
PA                                 7.5000              0.2500        0.0000               0.0000          0.0165
DE                                 8.0000              0.2500        0.0000               0.0000          0.0165
PA                                 7.5000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.3750              0.2500        0.0000               0.0000          0.0165
PA                                 7.1250              0.2500        0.0000               0.0000          0.0165
PA                                 7.7500              0.2500        0.0000               0.0000          0.0165
NJ                                 8.2500              0.2500        0.0000               0.0000          0.0165
NJ                                 7.5000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 7.8750              0.2500        0.0000               0.0000          0.0165
PA                                 7.8750              0.2500        0.0000               0.0000          0.0165
PA                                 7.1250              0.2500        0.0000               0.0000          0.0165
NJ                                 7.2500              0.2500        0.0000               0.0000          0.0165
NJ                                 8.2500              0.2500        0.0000               0.0000          0.0165
PA                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 8.2500              0.2500        0.0000               0.0000          0.0165
DE                                 7.6250              0.2500        0.0000               0.0000          0.0165
NJ                                 7.5000              0.2500        0.0000               0.0000          0.0165
DE                                 7.5000              0.2500        0.0000               0.0000          0.0165
PA                                 7.7500              0.2500        0.0000               0.0000          0.0165
IN                                 7.3750              0.2500        0.0000               0.0000          0.0165
FL                                 8.5000              0.2500        0.0000               0.0000          0.0165
CO                                 8.3750              0.2500        0.0000               0.0000          0.0165
WI                                 8.1250              0.2500        0.0000               0.0000          0.0165
WI                                 8.1250              0.2500        0.0000               0.0000          0.0165
WI                                 7.8750              0.2500        0.0000               0.0000          0.0165
MN                                 9.0000              0.2500        0.0000               0.0000          0.0165
WI                                 7.7500              0.2500        0.0000               0.0000          0.0165
MN                                 8.3750              0.2500        0.0000               0.0000          0.0165
IA                                 7.6250              0.2500        0.0000               0.0000          0.0165
VA                                 8.1250              0.2500        0.0000               0.0000          0.0165
MD                                 7.8750              0.2500        0.0000               0.0000          0.0165
GA                                 8.0000              0.2500        0.0000               0.0000          0.0165
IL                                 8.2500              0.2500        0.0000               0.0000          0.0165
VA                                 7.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.3750              0.2500        0.0000               0.0000          0.0165
VA                                 7.7500              0.2500        0.0000               0.0000          0.0165
NJ                                 7.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.0000              0.2500        0.0000               0.0000          0.0165
NJ                                 7.0000              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
MI                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.7500              0.2500        0.0000               0.0000          0.0165
CA                                 7.8750              0.2500        0.0000               0.0000          0.0165
CO                                 6.5000              0.2500        0.0000               0.0000          0.0165
MA                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
MA                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.1250              0.2500        0.0000               0.0000          0.0165
VA                                 6.7500              0.2500        0.0000               0.0000          0.0165
NH                                 7.0000              0.2500        0.0000               0.0000          0.0165
MA                                 7.6250              0.2500        0.0000               0.0000          0.0165
RI                                 8.2500              0.2500        0.0000               0.0000          0.0165
IL                                 7.1250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.0000              0.2500        0.0000               0.0000          0.0165
WA                                 6.8750              0.2500        0.0000               0.0000          0.0165
MA                                 6.8750              0.2500        0.0000               0.0000          0.0165
MO                                 9.1250              0.2500        0.0000               0.0000          0.0165
WI                                 9.0000              0.2500        0.0000               0.0000          0.0165
GA                                 7.1250              0.2500        0.0000               0.0000          0.0165
MO                                 8.5000              0.2500        0.0000               0.0000          0.0165
MO                                 8.5000              0.2500        0.0000               0.0000          0.0165
MI                                 8.5000              0.2500        0.0000               0.0000          0.0165
WI                                 8.5000              0.2500        0.0000               0.0000          0.0165
OH                                 8.5000              0.2500        0.0000               0.0000          0.0165
FL                                 7.8750              0.2500        0.0000               0.0000          0.0165
WI                                 9.0000              0.2500        0.0000               0.0000          0.0165
MO                                 8.1250              0.2500        0.0000               0.0000          0.0165
AZ                                 7.8750              0.2500        0.0000               0.0000          0.0165
NH                                 8.7500              0.2500        0.0000               0.0000          0.0165
WI                                 8.5000              0.2500        0.0000               0.0000          0.0165
MO                                 8.5000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.5000              0.2500        0.0000               0.0000          0.0165
AZ                                 7.8750              0.2500        0.0000               0.0000          0.0165
VA                                 8.0000              0.2500        0.0000               0.0000          0.0165
VA                                 8.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 9.5000              0.2500        0.0000               0.0000          0.0165
TX                                 7.3750              0.2500        0.0000               0.0000          0.0165
TX                                 8.1250              0.2500        0.0000               0.0000          0.0165
CO                                 8.0000              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.8750              0.2500        0.0000               0.0000          0.0165
TX                                 7.2500              0.2500        0.0000               0.0000          0.0165
TX                                 7.6250              0.2500        0.0000               0.0000          0.0165
TX                                 8.2500              0.2500        0.0000               0.0000          0.0165
TX                                 6.8750              0.2500        0.0000               0.0000          0.0165
TX                                 8.5000              0.2500        0.0000               0.0000          0.0165
TX                                 8.6250              0.2500        0.0000               0.0000          0.0165
TX                                 7.7500              0.2500        0.0000               0.0000          0.0165

STATE            CURRENT_                 MATURITY_             STATED_ORIGINAL                STATED_REM
                 NET_COUPON               DATE                  _TERM                          _TERM
-------------------------------------------------------------------------------------------------------------------
VA                            7.4835              20360601                            360                      359
VA                            7.2335              20360601                            360                      359
MD                            6.4835              20360601                            360                      359
DC                            6.7335              20360601                            360                      359
MD                            7.1085              20360601                            360                      359
GA                            6.4835              20360601                            360                      359
VA                            7.3585              20360601                            360                      359
VA                            7.1085              20360601                            360                      359
MD                            7.1085              20360601                            360                      359
VA                            7.1085              20360701                            360                      360
PA                            7.1085              20360601                            360                      359
GA                            7.1085              20360601                            360                      359
PA                            7.6085              20360601                            360                      359
MD                            6.6085              20360701                            360                      360
MD                            6.6085              20360601                            360                      359
VA                            7.6085              20360601                            360                      359
GA                            7.3585              20360701                            360                      360
VA                            6.7335              20360501                            360                      358
MD                            7.3585              20360601                            360                      359
MD                            7.1085              20360601                            360                      359
MD                            6.9835              20360601                            360                      359
DE                            7.2335              20360601                            360                      359
DE                            6.9835              20360701                            360                      360
MD                            7.3585              20360601                            360                      359
DE                            7.2335              20360701                            360                      360
MD                            6.8585              20360601                            360                      359
MD                            6.4835              20360601                            360                      359
MD                            7.3585              20360601                            360                      359
UT                            7.2335              20360701                            360                      360
ID                            7.2335              20360701                            360                      360
NY                            7.6085              20360601                            360                      359
NY                            7.4835              20360601                            360                      359
NY                            6.7335              20360701                            360                      360
NY                            8.4835              20360601                            360                      359
MS                            7.3585              20360701                            360                      360
NY                            7.2335              20360601                            360                      359
FL                            7.3585              20360601                            360                      359
NY                            7.1085              20360601                            360                      359
NY                            8.4835              20360601                            360                      359
NJ                            7.4835              20360601                            360                      359
NY                            8.6085              20360701                            360                      360
NY                            8.2335              20360601                            360                      359
NY                            6.8585              20360601                            360                      359
NJ                            6.9835              20360601                            360                      359
NY                            7.2335              20360601                            360                      359
GA                            7.9835              20360601                            360                      359
NY                            7.7335              20360601                            360                      359
NY                            8.4835              20360601                            360                      359
NY                            6.9835              20360701                            360                      360
NY                            6.8585              20360601                            360                      359
NY                            7.6085              20360601                            360                      359
NJ                            8.6085              20360601                            360                      359
MD                            7.4835              20360601                            360                      359
FL                            7.7335              20360601                            360                      359
NJ                            8.6085              20360501                            360                      358
NJ                            8.1085              20360601                            360                      359
FL                            8.3585              20360601                            360                      359
FL                            7.9835              20360601                            360                      359
NC                            8.3585              20360701                            360                      360
PA                            7.7335              20360601                            360                      359
PA                            8.1085              20360501                            360                      358
NJ                            7.8585              20360601                            360                      359
NJ                            8.3585              20360501                            360                      358
NJ                            8.7335              20360601                            360                      359
NJ                            7.4835              20360601                            360                      359
NJ                            8.6085              20360701                            360                      360
NJ                            7.3585              20360601                            360                      359
PA                            7.7335              20360601                            360                      359
PA                            7.7335              20360701                            360                      360
FL                            7.2335              20360601                            360                      359
NJ                            7.9835              20360701                            360                      360
NJ                            7.4835              20360601                            360                      359
FL                            7.7335              20360701                            360                      360
NC                            7.6085              20360701                            360                      360
NJ                            8.7335              20360701                            360                      360
NJ                            7.6085              20360601                            360                      359
NJ                            8.2335              20360601                            360                      359
FL                            8.4835              20360701                            360                      360
GA                            7.2335              20360501                            360                      358
NC                            8.2335              20360601                            360                      359
GA                            6.9835              20360301                            360                      356
GA                            6.7335              20360401                            360                      357
GA                            7.9835              20360501                            360                      358
SC                            6.9835              20360401                            360                      357
GA                            6.7335              20360601                            360                      359
GA                            8.1085              20360501                            360                      358
GA                            7.1085              20360601                            360                      359
TX                            7.6085              20360501                            360                      358
TX                            7.8585              20360701                            360                      360
OK                            8.1085              20360701                            360                      360
TX                            7.6085              20360501                            360                      358
TX                            7.6085              20360501                            360                      358
TX                            7.2335              20360601                            360                      359
TX                            7.3585              20360701                            360                      360
TX                            7.4835              20360601                            360                      359
TX                            8.3585              20360601                            360                      359
TX                            8.4835              20360701                            360                      360
TX                            8.6085              20360601                            360                      359
WA                            7.6085              20360701                            360                      360
OH                            8.3585              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
FL                            7.6085              20360201                            360                      355
TX                            8.2335              20360701                            360                      360
TX                            8.2335              20360401                            360                      357
TX                            8.6085              20360701                            360                      360
TX                            8.4835              20360601                            360                      359
OR                            6.8585              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
OK                            8.1085              20360701                            360                      360
TX                            8.2335              20360601                            360                      359
TX                            7.6085              20360501                            360                      358
TX                            8.2335              20360701                            360                      360
TX                            6.9835              20360601                            360                      359
NM                            7.3585              20360701                            360                      360
FL                            8.7335              20360601                            360                      359
FL                            8.4835              20360501                            360                      358
PA                            7.3585              20360601                            360                      359
NJ                            8.6085              20360401                            360                      357
NJ                            8.1085              20360601                            360                      359
NJ                            7.9835              20360401                            360                      357
NJ                            7.9835              20360501                            360                      358
FL                            7.2335              20360601                            360                      359
CO                            7.8585              20360601                            360                      359
FL                            7.4835              20360601                            360                      359
CO                            6.7335              20360701                            360                      360
CO                            6.8585              20360601                            360                      359
FL                            7.2335              20360501                            360                      358
TN                            7.1085              20360501                            360                      358
FL                            6.9835              20360601                            360                      359
TN                            7.1085              20360501                            360                      358
FL                            7.7335              20360501                            360                      358
FL                            6.8585              20360401                            360                      357
TN                            7.1085              20360501                            360                      358
FL                            6.6085              20360501                            360                      358
AL                            7.3585              20360501                            360                      358
TN                            7.1085              20360501                            360                      358
FL                            6.8585              20360501                            360                      358
FL                            7.7335              20360601                            360                      359
TN                            7.1085              20360501                            360                      358
TN                            6.7335              20360501                            360                      358
FL                            7.2335              20360501                            360                      358
TN                            6.7335              20360501                            360                      358
TN                            7.1085              20360501                            360                      358
FL                            7.8585              20360601                            360                      359
LA                            7.1085              20360501                            360                      358
TN                            7.3585              20360501                            360                      358
FL                            7.2335              20360501                            360                      358
FL                            7.6085              20360501                            360                      358
GA                            8.7335              20360601                            360                      359
GA                            7.2335              20360501                            360                      358
GA                            7.1085              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
GA                            7.9835              20360601                            360                      359
GA                            8.1085              20360701                            360                      360
GA                            8.2335              20360701                            360                      360
GA                            7.3585              20360501                            360                      358
GA                            7.7335              20360601                            360                      359
GA                            7.6085              20360601                            360                      359
GA                            7.6085              20360501                            360                      358
GA                            7.3585              20360601                            360                      359
CA                            7.3585              20360601                            360                      359
PA                            8.1085              20360601                            360                      359
NJ                            7.2335              20360601                            360                      359
PA                            6.8585              20360501                            360                      358
PA                            7.6085              20360701                            360                      360
PA                            6.6085              20360601                            360                      359
PA                            6.7335              20360601                            360                      359
NY                            6.6085              20360601                            360                      359
PA                            7.6085              20360701                            360                      360
PA                            8.1085              20360501                            360                      358
PA                            7.8585              20360601                            360                      359
PA                            6.7335              20360601                            360                      359
PA                            8.8585              20360601                            360                      359
NY                            6.6085              20360601                            360                      359
FL                            6.7335              20360601                            360                      359
NY                            6.9835              20360601                            360                      359
NY                            6.6085              20360601                            360                      359
NJ                            6.8585              20360701                            360                      360
NY                            6.8585              20360601                            360                      359
NY                            7.7335              20360701                            360                      360
AZ                            6.1085              20360601                            360                      359
AZ                            7.1085              20360601                            360                      359
NJ                            6.7335              20360501                            360                      358
NJ                            6.1085              20360301                            360                      356
AR                            7.6085              20360601                            360                      359
TX                            6.8585              20360701                            360                      360
TX                            7.4835              20360601                            360                      359
TX                            7.1085              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
IL                            7.6085              20360401                            360                      357
GA                            7.4835              20360501                            360                      358
FL                            7.9835              20360501                            360                      358
FL                            8.1085              20360501                            360                      358
GA                            7.1085              20360501                            360                      358
FL                            6.3585              20351001                            360                      351
SC                            8.1085              20360601                            360                      359
CO                            6.6085              20360501                            360                      358
GA                            7.1085              20360601                            360                      359
FL                            7.4835              20351201                            360                      353
IN                            7.1085              20360601                            360                      359
MO                            7.3585              20360601                            360                      359
AZ                            7.8585              20360601                            360                      359
FL                            7.3585              20360501                            360                      358
NJ                            8.8585              20360601                            360                      359
NY                            6.7335              20360601                            360                      359
CA                            7.4835              20360601                            360                      359
CA                            6.2335              20360401                            360                      357
VA                            7.3585              20360601                            360                      359
AZ                            6.9835              20360601                            360                      359
TX                            6.8585              20360101                            360                      354
CA                            6.9835              20360601                            360                      359
TX                            9.7335              20360601                            360                      359
TX                            9.1085              20360601                            360                      359
AZ                            6.7335              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
TX                            9.3585              20360601                            360                      359
WA                            7.6085              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
NC                            7.1085              20360601                            360                      359
IN                            6.4835              20360601                            360                      359
NC                            6.7335              20360501                            360                      358
CO                            8.3585              20360601                            360                      359
AZ                            7.1085              20360701                            360                      360
CO                            8.6085              20360501                            360                      358
TX                            7.6085              20360501                            360                      358
CA                            6.9835              20360701                            360                      360
MN                            7.1085              20360601                            360                      359
MN                            6.3585              20360601                            360                      359
TX                            7.6085              20360501                            360                      358
GA                            7.9835              20360701                            360                      360
GA                            7.3585              20360601                            360                      359
TX                            7.1085              20360601                            360                      359
GA                            6.9835              20360601                            360                      359
TX                            7.9835              20360601                            360                      359
CA                            7.2335              20360701                            360                      360
GA                            6.7335              20360601                            360                      359
IL                            7.4835              20360701                            360                      360
IL                            8.1085              20360701                            360                      360
NJ                            7.6085              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
TX                            7.9835              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
GA                            8.1085              20360601                            360                      359
TX                            7.1085              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
GA                            7.6085              20360601                            360                      359
NC                            7.4835              20360601                            360                      359
TX                            7.9835              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
TX                            8.7335              20360701                            360                      360
UT                            7.1085              20360601                            360                      359
CA                            6.2335              20360501                            360                      358
PA                            7.2335              20360501                            360                      358
PA                            7.1085              20360601                            360                      359
MD                            7.2335              20360601                            360                      359
MI                            6.6085              20360601                            360                      359
KY                            7.4835              20360301                            360                      356
OH                            6.6085              20360601                            360                      359
NV                            7.2335              20360501                            360                      358
WA                            7.4835              20360601                            360                      359
FL                            6.7335              20360601                            360                      359
MD                            7.3585              20360501                            360                      358
GA                            7.2335              20360501                            360                      358
OR                            7.4835              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
CA                            6.6085              20360501                            360                      358
TX                            7.3585              20360601                            360                      359
AZ                            7.9835              20360601                            360                      359
TX                            6.7335              20360501                            360                      358
AZ                            7.2335              20360601                            360                      359
MD                            6.2335              20360501                            360                      358
CA                            6.6085              20360401                            360                      357
CA                            6.6085              20360501                            360                      358
AZ                            7.2335              20360601                            360                      359
CA                            6.4835              20360501                            360                      358
AZ                            7.1085              20360601                            360                      359
FL                            7.2335              20360601                            360                      359
FL                            7.9835              20360601                            360                      359
CA                            6.6085              20360601                            360                      359
AZ                            6.7335              20360601                            360                      359
CA                            7.2335              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
ID                            7.4835              20360701                            360                      360
CA                            6.6085              20360601                            360                      359
TX                            6.7335              20360601                            360                      359
FL                            7.2335              20360701                            360                      360
PA                            7.2335              20360501                            360                      358
CA                            6.9835              20360501                            360                      358
KY                            6.9835              20360501                            360                      358
TX                            8.1085              20360601                            360                      359
TX                            7.2335              20360501                            360                      358
FL                            7.6085              20360601                            360                      359
AR                            7.9835              20360601                            360                      359
AR                            7.6085              20360601                            360                      359
OR                            7.1085              20360601                            360                      359
MD                            7.9835              20360601                            360                      359
ID                            6.9835              20360601                            360                      359
CA                            7.2335              20360701                            360                      360
CA                            6.6085              20360601                            360                      359
ID                            7.2335              20360701                            360                      360
VA                            6.8585              20360701                            360                      360
NJ                            6.9835              20360501                            360                      358
CA                            6.9835              20360601                            360                      359
VA                            7.1085              20360601                            360                      359
OR                            7.3585              20360601                            360                      359
OR                            6.6085              20360501                            360                      358
OR                            7.2335              20360701                            360                      360
ID                            7.7335              20360701                            360                      360
TX                            7.6085              20360601                            360                      359
PA                            7.9835              20360601                            360                      359
CA                            6.9835              20360501                            360                      358
CA                            7.2335              20360601                            360                      359
KY                            7.6085              20360601                            360                      359
FL                            7.6085              20360501                            360                      358
MD                            6.6085              20360601                            360                      359
OH                            7.6085              20360501                            360                      358
IN                            7.2335              20360601                            360                      359
OH                            6.9835              20360601                            360                      359
KY                            7.2335              20360601                            360                      359
IN                            7.7335              20360701                            360                      360
KY                            7.8585              20360601                            360                      359
OH                            7.7335              20360601                            360                      359
IN                            8.4835              20360601                            360                      359
OH                            7.6085              20360501                            360                      358
OH                            7.6085              20360601                            360                      359
KY                            7.3585              20360701                            360                      360
IN                            7.2335              20360501                            360                      358
OH                            7.9835              20360701                            360                      360
TN                            7.2335              20360701                            360                      360
OH                            8.4835              20360601                            360                      359
KY                            7.3585              20360601                            360                      359
IN                            7.9835              20360601                            360                      359
KY                            7.2335              20360701                            360                      360
HI                            6.3585              20360601                            360                      359
HI                            6.3585              20360601                            360                      359
CO                            7.6085              20360501                            360                      358
FL                            7.6085              20360601                            360                      359
CO                            7.3585              20360601                            360                      359
CO                            7.1085              20360501                            360                      358
CO                            6.8585              20360601                            360                      359
CO                            7.4835              20360601                            360                      359
IL                            7.8585              20360501                            360                      358
WY                            6.6085              20360601                            360                      359
FL                            7.6085              20360701                            360                      360
DC                            6.6085              20360501                            360                      358
VA                            7.9835              20360601                            360                      359
NJ                            6.6085              20360701                            360                      360
ME                            6.9835              20360701                            360                      360
VA                            7.6085              20360701                            360                      360
VA                            6.6085              20360601                            360                      359
DE                            7.1085              20360501                            360                      358
ID                            6.6085              20360701                            360                      360
TX                            6.6085              20360601                            360                      359
SC                            7.4835              20360601                            360                      359
GA                            7.6085              20360501                            360                      358
SC                            7.3585              20360701                            360                      360
SC                            7.4835              20360601                            360                      359
NC                            7.8585              20360501                            360                      358
MN                            6.9835              20360401                            360                      357
AZ                            7.6085              20360301                            360                      356
TX                            7.8585              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
AZ                            7.2335              20360601                            360                      359
FL                            7.7335              20360401                            360                      357
AZ                            7.2335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
KS                            7.3585              20360601                            360                      359
AZ                            7.2335              20360601                            360                      359
MO                            7.8585              20360601                            360                      359
TX                            7.8585              20360701                            360                      360
AZ                            6.6085              20360701                            360                      360
TX                            7.6085              20360601                            360                      359
CO                            7.2335              20360601                            360                      359
AZ                            7.4835              20360601                            360                      359
TX                            7.1085              20360701                            360                      360
MO                            8.2335              20360601                            360                      359
TX                            6.8585              20360601                            360                      359
MO                            7.6085              20360501                            360                      358
TX                            7.7335              20360701                            360                      360
TX                            7.6085              20360501                            360                      358
TX                            7.7335              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
TX                            7.6085              20360501                            360                      358
TX                            7.4835              20360501                            360                      358
TX                            7.7335              20360501                            360                      358
TX                            7.6085              20360601                            360                      359
NC                            7.9835              20360601                            360                      359
TX                            7.7335              20360701                            360                      360
TX                            8.7335              20360501                            360                      358
TX                            7.1085              20360601                            360                      359
TN                            7.6085              20360501                            360                      358
TX                            8.1085              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
TX                            7.9835              20360601                            360                      359
FL                            7.4835              20360601                            360                      359
NC                            6.7335              20360501                            360                      358
FL                            7.6085              20360601                            360                      359
CA                            6.8585              20360601                            360                      359
CA                            6.6085              20360501                            360                      358
FL                            6.6085              20360501                            360                      358
NM                            7.2335              20360501                            360                      358
CO                            6.4835              20360401                            360                      357
VA                            7.4835              20360601                            360                      359
OH                            6.6085              20360601                            360                      359
FL                            9.3585              20360601                            360                      359
FL                            7.6085              20360701                            360                      360
FL                            7.3585              20360601                            360                      359
OH                            6.4835              20360601                            360                      359
FL                            6.1085              20360701                            360                      360
OH                            8.3585              20360601                            360                      359
FL                            8.2335              20360601                            360                      359
NY                            6.4835              20360101                            360                      354
NY                            5.6085              20351201                            360                      353
TN                            7.9835              20360601                            360                      359
RI                            7.2335              20360601                            360                      359
NY                            7.6085              20360601                            360                      359
NJ                            7.4835              20360601                            360                      359
PA                            8.8585              20360601                            360                      359
CT                            7.3585              20360501                            360                      358
RI                            7.1085              20360601                            360                      359
NJ                            7.6085              20360701                            360                      360
OK                            7.9835              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            6.2335              20360601                            360                      359
OK                            6.9835              20360601                            360                      359
OK                            8.7335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
OK                            7.2335              20360501                            360                      358
TX                            7.1085              20360601                            360                      359
TX                            6.9835              20360701                            360                      360
TX                            6.7335              20360601                            360                      359
MD                            6.7335              20360501                            360                      358
VA                            7.2335              20360601                            360                      359
MD                            7.2335              20360501                            360                      358
NC                            7.4835              20360601                            360                      359
DC                            6.6085              20360501                            360                      358
NC                            7.2335              20360501                            360                      358
MD                            7.1085              20360601                            360                      359
MD                            6.7335              20360601                            360                      359
NC                            7.2335              20360601                            360                      359
MD                            7.3585              20360601                            360                      359
ME                            6.2335              20360601                            360                      359
MA                            6.6085              20360401                            360                      357
RI                            6.6085              20360501                            360                      358
MD                            6.7335              20360601                            360                      359
CA                            6.8585              20360701                            360                      360
CT                            7.3585              20360601                            360                      359
CA                            7.6085              20360701                            360                      360
CA                            7.3585              20360501                            360                      358
SC                            7.1085              20360701                            360                      360
AL                            7.3585              20360501                            360                      358
VA                            6.3585              20360401                            360                      357
FL                            6.6085              20360601                            360                      359
MD                            7.1085              20360601                            360                      359
NJ                            6.9835              20360601                            360                      359
GA                            7.2335              20360601                            360                      359
NC                            7.4835              20360601                            360                      359
NC                            7.3585              20360501                            360                      358
FL                            7.6085              20360501                            360                      358
MD                            7.4835              20360701                            360                      360
WA                            7.7335              20360701                            360                      360
WA                            8.4835              20360301                            360                      356
KS                            7.6085              20360601                            360                      359
IN                            7.6085              20360501                            360                      358
WA                            7.7335              20360701                            360                      360
TX                            7.9835              20360501                            360                      358
IL                            7.4835              20360401                            360                      357
CA                            8.3585              20360401                            360                      357
IL                            7.9835              20360401                            360                      357
NY                            7.3585              20360501                            360                      358
PA                            8.7335              20360501                            360                      358
CA                            7.4835              20360301                            360                      356
MI                            8.8585              20360401                            360                      357
CO                            7.3585              20360501                            360                      358
TX                            9.2335              20360601                            360                      359
FL                            6.6085              20360301                            360                      356
TX                            7.3585              20360201                            360                      355
TX                            7.2335              20360101                            360                      354
NM                            7.9835              20360601                            360                      359
FL                            6.8585              20360601                            360                      359
PA                            7.6085              20360501                            360                      358
NV                            7.9835              20360601                            360                      359
AZ                            6.3585              20360701                            360                      360
CA                            6.9835              20360501                            360                      358
CA                            7.3585              20360601                            360                      359
AZ                            6.8585              20360601                            360                      359
MD                            7.6085              20360601                            360                      359
CA                            7.4835              20360501                            360                      358
AZ                            6.3585              20360701                            360                      360
AZ                            7.4835              20360701                            360                      360
AZ                            7.2335              20360501                            360                      358
NY                            7.6085              20360701                            360                      360
NY                            7.2335              20360601                            360                      359
NY                            7.6085              20360601                            360                      359
NJ                            7.2335              20360601                            360                      359
PA                            7.9835              20360601                            360                      359
PA                            6.9835              20360701                            360                      360
FL                            7.6085              20360501                            360                      358
FL                            8.4835              20360401                            360                      357
TX                            8.6085              20360401                            360                      357
CA                            6.9835              20360601                            360                      359
CA                            6.6085              20360601                            360                      359
NY                            6.4835              20360501                            360                      358
NY                            6.4835              20360401                            360                      357
NY                            6.8585              20360601                            360                      359
UT                            7.7335              20360501                            360                      358
OR                            6.6085              20360601                            360                      359
ID                            8.4835              20360601                            360                      359
WA                            6.9835              20360601                            360                      359
CA                            7.1085              20360501                            360                      358
FL                            7.2335              20360301                            360                      356
WA                            7.3585              20360701                            360                      360
OH                            7.6085              20360601                            360                      359
MD                            7.2335              20360701                            360                      360
MD                            8.2335              20360601                            360                      359
VA                            6.9835              20360701                            360                      360
MD                            8.2335              20360601                            360                      359
MD                            8.2335              20360601                            360                      359
CO                            7.3585              20360701                            360                      360
MD                            8.2335              20360601                            360                      359
CA                            7.2335              20360601                            360                      359
IA                            8.3585              20360601                            360                      359
SC                            7.7335              20360601                            360                      359
MD                            8.8585              20360601                            360                      359
FL                            7.8585              20360701                            360                      360
FL                            6.6085              20360501                            360                      358
FL                            7.3585              20360701                            360                      360
FL                            7.4835              20360601                            360                      359
FL                            6.6085              20360601                            360                      359
CA                            7.2335              20360701                            360                      360
CA                            6.7335              20360601                            360                      359
WA                            7.3585              20360601                            360                      359
GA                            8.7335              20360601                            360                      359
SC                            8.7335              20360501                            360                      358
SC                            8.8585              20360701                            360                      360
GA                            7.7335              20360601                            360                      359
FL                            7.4835              20360501                            360                      358
GA                            7.4835              20360701                            360                      360
GA                            7.3585              20360601                            360                      359
SC                            6.9835              20360501                            360                      358
NV                            6.2335              20360601                            360                      359
CO                            6.4835              20360701                            360                      360
NV                            7.1085              20360601                            360                      359
UT                            6.3585              20360601                            360                      359
GA                            6.9835              20360501                            360                      358
GA                            7.2335              20360501                            360                      358
GA                            8.1085              20360601                            360                      359
GA                            7.3585              20360501                            360                      358
GA                            6.1085              20360601                            360                      359
GA                            6.8585              20360501                            360                      358
FL                            7.6085              20360701                            360                      360
GA                            7.6085              20360601                            360                      359
NC                            6.4835              20360601                            360                      359
GA                            6.4835              20360601                            360                      359
GA                            6.4835              20360701                            360                      360
GA                            6.3585              20360601                            360                      359
GA                            6.1085              20360501                            360                      358
GA                            6.2335              20360501                            360                      358
GA                            7.3585              20260601                            240                      239
GA                            6.1085              20360701                            360                      360
NC                            7.2335              20360701                            360                      360
FL                            7.2335              20360601                            360                      359
GA                            7.3585              20360701                            360                      360
GA                            7.4835              20360601                            360                      359
GA                            5.9835              20360701                            360                      360
GA                            7.2335              20360601                            360                      359
NC                            7.3585              20360601                            360                      359
GA                            6.2335              20360601                            360                      359
GA                            6.1085              20360601                            360                      359
NC                            6.9835              20360501                            360                      358
GA                            6.8585              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
NC                            7.3585              20360601                            360                      359
GA                            7.1085              20360601                            360                      359
GA                            6.2335              20360701                            360                      360
GA                            6.6085              20360601                            360                      359
NC                            8.2335              20360601                            360                      359
FL                            7.4835              20360701                            360                      360
FL                            7.3585              20360601                            360                      359
NC                            7.3585              20360601                            360                      359
GA                            6.4835              20360601                            360                      359
GA                            7.1085              20360601                            360                      359
GA                            6.2335              20360701                            360                      360
FL                            6.4835              20360601                            360                      359
FL                            7.2335              20360701                            360                      360
NJ                            6.6085              20360701                            360                      360
NY                            7.1085              20360701                            360                      360
FL                            6.9835              20360701                            360                      360
CA                            6.4835              20360601                            360                      359
NJ                            6.7335              20360601                            360                      359
FL                            7.3585              20360701                            360                      360
MO                            7.4835              20360701                            360                      360
VA                            6.9835              20360601                            360                      359
VA                            6.9835              20360601                            360                      359
OH                            6.2335              20350701                            360                      348
IN                            6.4835              20360501                            360                      358
IN                            6.4835              20360601                            360                      359
OH                            7.2335              20351101                            360                      352
OH                            6.7335              20351101                            360                      352
IN                            6.4835              20360601                            360                      359
OH                            5.7235              20351001                            360                      351
IN                            6.4835              20360501                            360                      358
MI                            6.3585              20351001                            360                      351
IN                            6.4835              20360501                            360                      358
IN                            6.4835              20360601                            360                      359
IN                            6.7335              20360601                            360                      359
IN                            6.4835              20360601                            360                      359
OH                            5.6085              20360401                            360                      357
UT                            7.2335              20360601                            360                      359
UT                            7.4835              20360601                            360                      359
MN                            7.6085              20360601                            360                      359
MN                            7.4835              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
CA                            6.2335              20360401                            360                      357
TX                            7.4835              20360701                            360                      360
TX                            7.4835              20360701                            360                      360
TX                            6.2335              20360701                            360                      360
TN                            7.2335              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
TX                            7.2335              20360701                            360                      360
TX                            7.6085              20360701                            360                      360
TX                            8.2335              20360701                            360                      360
CA                            6.1085              20360401                            360                      357
TX                            7.2335              20360601                            360                      359
TX                            8.2335              20360701                            360                      360
TX                            7.8585              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
GA                            7.3585              20360701                            360                      360
GA                            7.7335              20360701                            360                      360
AZ                            7.1085              20360601                            360                      359
AZ                            7.9835              20360701                            360                      360
OR                            7.1085              20360501                            360                      358
GA                            6.6085              20360701                            360                      360
GA                            6.8585              20360601                            360                      359
AZ                            6.7335              20360501                            360                      358
AZ                            7.4835              20360601                            360                      359
WI                            7.1085              20360601                            360                      359
TX                            7.6085              20360701                            360                      360
TX                            7.2335              20360701                            360                      360
TX                            7.8585              20360701                            360                      360
TX                            7.4835              20360501                            360                      358
ID                            6.9835              20360701                            360                      360
GA                            7.7335              20360701                            360                      360
GA                            7.2335              20360701                            360                      360
WA                            7.1085              20360701                            360                      360
TX                            7.6085              20360601                            360                      359
WA                            6.7335              20360701                            360                      360
CO                            7.3585              20360601                            360                      359
IN                            8.2335              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
MN                            7.2335              20360701                            360                      360
MN                            7.4835              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
FL                            6.7335              20360701                            360                      360
TX                            8.6085              20360701                            360                      360
TX                            6.9835              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
TX                            7.8585              20360601                            360                      359
TX                            8.3585              20360601                            360                      359
TX                            7.3585              20360701                            360                      360
TX                            7.8585              20360601                            360                      359
NC                            6.9835              20360501                            360                      358
TX                            7.6085              20360601                            360                      359
NM                            7.3585              20360501                            360                      358
NC                            8.3585              20360601                            360                      359
TX                            7.1085              20360601                            360                      359
TX                            6.6085              20360601                            360                      359
TX                            8.2335              20360601                            360                      359
TX                            8.8585              20360601                            360                      359
VA                            7.2335              20360601                            360                      359
FL                            6.6085              20360601                            360                      359
CO                            6.9835              20360601                            360                      359
CO                            7.3585              20360601                            360                      359
CO                            7.2335              20360601                            360                      359
CA                            7.1085              20360501                            360                      358
MA                            8.3585              20360501                            360                      358
VA                            6.9835              20360501                            360                      358
FL                            7.3585              20360601                            360                      359
GA                            6.6085              20360401                            360                      357
TX                            7.4835              20360401                            360                      357
TX                            8.4835              20360601                            360                      359
TX                            8.6085              20360601                            360                      359
LA                            7.6085              20360501                            360                      358
UT                            7.1085              20360701                            360                      360
TX                            8.4835              20360501                            360                      358
TX                            7.7335              20360601                            360                      359
IL                            7.2335              20360701                            360                      360
TX                            8.3585              20360601                            360                      359
TX                            8.4835              20360601                            360                      359
TX                            8.6085              20360601                            360                      359
CO                            7.2335              20360401                            360                      357
SC                            8.4835              20360501                            360                      358
IL                            8.6085              20360401                            360                      357
MD                            7.2335              20360601                            360                      359
GA                            7.4835              20360601                            360                      359
MD                            6.9835              20360701                            360                      360
AL                            7.1085              20360601                            360                      359
FL                            6.6085              20360601                            360                      359
AL                            7.6085              20360701                            360                      360
GA                            7.2335              20360601                            360                      359
FL                            7.7335              20360601                            360                      359
MS                            7.4835              20360701                            360                      360
MD                            6.7335              20360501                            360                      358
AL                            7.1085              20360701                            360                      360
NC                            7.7335              20360701                            360                      360
GA                            7.8585              20360701                            360                      360
NC                            7.7335              20360601                            360                      359
WI                            7.4835              20360701                            360                      360
MI                            7.4835              20360701                            360                      360
MA                            6.7335              20360601                            360                      359
FL                            7.8585              20360601                            360                      359
CA                            8.2335              20360601                            360                      359
NV                            8.1085              20360601                            360                      359
CA                            7.6085              20360401                            360                      357
TX                            8.4835              20360501                            360                      358
NV                            7.2335              20360601                            360                      359
NV                            7.1085              20360601                            360                      359
NV                            7.6085              20360601                            360                      359
CO                            6.6085              20360701                            360                      360
CT                            7.9835              20360401                            360                      357
MA                            6.6085              20360601                            360                      359
NJ                            6.9835              20360701                            360                      360
CA                            7.8585              20360601                            360                      359
CA                            8.4835              20360601                            360                      359
CA                            7.2335              20360501                            360                      358
OH                            8.4835              20360501                            360                      358
TX                            7.6085              20360601                            360                      359
HI                            6.7335              20360601                            360                      359
AZ                            5.6085              20360301                            360                      356
IL                           10.2335              20360501                            360                      358
OH                            6.3585              20360501                            360                      358
AZ                            9.3585              20360601                            360                      359
FL                            9.2335              20360501                            360                      358
LA                            8.2335              20360601                            360                      359
OH                            7.6085              20360401                            360                      357
CA                            6.9835              20360401                            360                      357
FL                            6.1085              20360301                            360                      356
AZ                            8.3585              20360601                            360                      359
WI                            6.4835              20360401                            360                      357
NV                            7.2335              20360601                            360                      359
WA                            9.3585              20360601                            360                      359
TX                            7.7335              20360701                            360                      360
OH                            7.2335              20360501                            360                      358
NC                            8.2335              20360601                            360                      359
LA                            6.3585              20360301                            360                      356
TX                            7.2335              20360501                            360                      358
TX                            6.8585              20360601                            360                      359
AL                            7.7335              20360501                            360                      358
NC                            7.2335              20360601                            360                      359
TX                            6.8585              20360601                            360                      359
AL                            7.3585              20360601                            360                      359
NC                            7.2335              20360601                            360                      359
AL                            6.7335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
AL                            6.7335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
TX                            6.8585              20360601                            360                      359
TX                            6.9835              20360601                            360                      359
OH                            6.3585              20360601                            360                      359
MD                            6.6085              20360701                            360                      360
VA                            7.3585              20360601                            360                      359
OH                            6.6085              20360701                            360                      360
OH                            6.8585              20360701                            360                      360
OH                            6.4835              20360501                            360                      358
VA                            7.4835              20360701                            360                      360
VA                            7.3585              20360701                            360                      360
NJ                            7.7335              20360601                            360                      359
PA                            7.4835              20360601                            360                      359
MD                            7.3585              20360601                            360                      359
NJ                            7.8585              20360601                            360                      359
MD                            7.4835              20360601                            360                      359
MD                            7.4835              20360601                            360                      359
OH                            7.2335              20360601                            360                      359
FL                            7.1085              20360301                            360                      356
GA                            7.3585              20360701                            360                      360
CA                            6.9835              20360601                            360                      359
CA                            7.2335              20360601                            360                      359
MA                            7.2335              20360701                            360                      360
FL                            6.7335              20360701                            360                      360
AZ                            7.2335              20360701                            360                      360
AZ                            7.3585              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
GA                            7.6085              20360601                            360                      359
GA                            7.2335              20360601                            360                      359
GA                            7.2335              20360601                            360                      359
GA                            6.6085              20360501                            360                      358
GA                            6.2335              20360501                            360                      358
GA                            7.1085              20360501                            360                      358
NC                            6.9835              20360501                            360                      358
GA                            7.4835              20360601                            360                      359
GA                            6.4835              20360501                            360                      358
GA                            7.8585              20360401                            360                      357
GA                            6.6085              20360601                            360                      359
GA                            8.2335              20360601                            360                      359
GA                            7.8585              20360401                            360                      357
GA                            7.7335              20360601                            360                      359
SC                            6.9835              20360501                            360                      358
GA                            6.3585              20360601                            360                      359
GA                            8.4835              20360501                            360                      358
GA                            7.1085              20360501                            360                      358
GA                            6.9835              20360501                            360                      358
GA                            7.6085              20360501                            360                      358
GA                            8.2335              20360601                            360                      359
GA                            7.2335              20360501                            360                      358
GA                            6.8585              20360501                            360                      358
GA                            6.6085              20360601                            360                      359
GA                            8.1085              20360601                            360                      359
GA                            6.3585              20360501                            360                      358
GA                            6.9835              20360401                            360                      357
GA                            7.1085              20360601                            360                      359
GA                            7.1085              20360601                            360                      359
GA                            6.7335              20360501                            360                      358
GA                            6.9835              20360501                            360                      358
GA                            7.8585              20360401                            360                      357
GA                            7.1085              20360501                            360                      358
GA                            7.1085              20360501                            360                      358
GA                            6.4835              20360601                            360                      359
GA                            6.7335              20360601                            360                      359
GA                            7.1085              20360601                            360                      359
GA                            6.7335              20360701                            360                      360
GA                            6.8585              20360601                            360                      359
GA                            7.2335              20360601                            360                      359
GA                            6.7335              20360501                            360                      358
GA                            6.6085              20360701                            360                      360
GA                            7.4835              20360501                            360                      358
GA                            7.4835              20360401                            360                      357
GA                            6.4835              20360601                            360                      359
FL                            7.3585              20360601                            360                      359
GA                            8.6085              20360601                            360                      359
WY                            7.1085              20360601                            360                      359
CO                            7.4835              20360701                            360                      360
CO                            6.9835              20360601                            360                      359
AR                            6.4835              20360301                            360                      356
CA                            6.4835              20360601                            360                      359
CA                            6.4835              20360601                            360                      359
CA                            6.6085              20360601                            360                      359
CA                            6.4835              20360301                            360                      356
FL                            6.3585              20360601                            360                      359
CA                            6.1085              20360301                            360                      356
FL                            7.4835              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
CO                            7.7335              20360601                            360                      359
NY                            7.4835              20360401                            360                      357
TX                            7.2335              20360601                            360                      359
IN                            7.1085              20360701                            360                      360
TX                            6.4835              20360601                            360                      359
TX                            6.4835              20360601                            360                      359
IN                            7.3585              20360501                            360                      358
TX                            7.8585              20360501                            360                      358
IA                            8.7335              20360501                            360                      358
TX                            6.4835              20360601                            360                      359
MS                            6.6085              20360601                            360                      359
TX                            7.4835              20360701                            360                      360
IN                            7.1085              20360701                            360                      360
GA                            7.1085              20360701                            360                      360
GA                            7.6085              20360701                            360                      360
FL                            7.8585              20360601                            360                      359
GA                            7.4835              20360501                            360                      358
GA                            7.7335              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
GA                            7.9835              20360501                            360                      358
AL                            9.2335              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
GA                            6.6085              20360701                            360                      360
SC                            7.2335              20360501                            360                      358
TN                            6.8585              20360601                            360                      359
GA                            7.2335              20360601                            360                      359
GA                            6.9835              20360601                            360                      359
GA                            7.4835              20360601                            360                      359
GA                            6.6085              20360501                            360                      358
AL                            6.6085              20360701                            360                      360
FL                            7.8585              20360601                            360                      359
GA                            6.6085              20360701                            360                      360
SC                            7.6085              20360601                            360                      359
GA                            8.1085              20360501                            360                      358
GA                            7.9835              20360601                            360                      359
TN                            6.9835              20360701                            360                      360
NC                            7.7335              20360601                            360                      359
GA                            7.4835              20360501                            360                      358
GA                            7.8585              20360701                            360                      360
GA                            7.3585              20360601                            360                      359
GA                            7.3585              20360601                            360                      359
NC                            6.9835              20360601                            360                      359
MI                            7.8585              20360501                            360                      358
TX                            7.7335              20360701                            360                      360
KS                            7.7335              20360401                            360                      357
OR                            7.3585              20360601                            360                      359
MO                            6.8585              20360501                            360                      358
FL                            7.3585              20360501                            360                      358
TX                            7.6085              20360701                            360                      360
TX                            7.6085              20360601                            360                      359
TX                            7.7335              20360701                            360                      360
TX                            7.2335              20360501                            360                      358
IL                            5.8585              20360301                            360                      356
TX                            6.9835              20360501                            360                      358
UT                            7.3585              20360701                            360                      360
WA                            7.1085              20360601                            360                      359
MS                            7.6085              20360701                            360                      360
TN                            7.4835              20360601                            360                      359
TX                            6.8585              20360501                            360                      358
TX                            7.4835              20360601                            360                      359
TX                            8.2335              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            7.6085              20360701                            360                      360
MO                            6.4835              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
CA                            7.4835              20360601                            360                      359
CA                            7.2335              20360401                            360                      357
IL                            7.3585              20360701                            360                      360
IL                            7.1085              20360701                            360                      360
FL                            7.4835              20360701                            360                      360
NV                            6.9835              20360701                            360                      360
AZ                            6.7335              20360601                            360                      359
NV                            7.6085              20360701                            360                      360
NV                            7.3585              20360701                            360                      360
FL                            7.2335              20360601                            360                      359
NC                            6.4835              20360701                            360                      360
IL                            7.4835              20360701                            360                      360
TX                            7.3585              20360501                            360                      358
CO                            7.1085              20360601                            360                      359
FL                            7.9835              20360701                            360                      360
AZ                            6.8585              20360201                            360                      355
NV                            7.9835              20360601                            360                      359
FL                            7.4835              20360701                            360                      360
AZ                            7.4835              20360701                            360                      360
TX                            6.4835              20360601                            360                      359
FL                            8.4835              20360501                            360                      358
IL                            7.4835              20360701                            360                      360
MI                            7.4835              20360601                            360                      359
VA                            7.7335              20360601                            360                      359
IL                            7.7335              20360701                            360                      360
FL                            6.9835              20360601                            360                      359
CA                            6.9835              20360701                            360                      360
FL                            8.1085              20360701                            360                      360
NV                            7.1085              20360601                            360                      359
FL                            7.6085              20360701                            360                      360
NM                            6.8585              20360601                            360                      359
PA                            6.7335              20360701                            360                      360
UT                            6.9835              20360601                            360                      359
CO                            8.2335              20360601                            360                      359
CO                            7.2335              20360601                            360                      359
UT                            8.8585              20360601                            360                      359
CO                            7.8585              20360601                            360                      359
UT                            7.4835              20360601                            360                      359
CO                            7.4835              20360701                            360                      360
UT                            7.7335              20360701                            360                      360
TX                            6.8585              20360701                            360                      360
UT                            7.2335              20360601                            360                      359
UT                            7.1085              20360601                            360                      359
CO                            7.3585              20360601                            360                      359
UT                            7.2335              20360601                            360                      359
CO                            6.7335              20360601                            360                      359
CO                            8.8585              20360701                            360                      360
UT                            7.1085              20360701                            360                      360
UT                            8.8585              20360701                            360                      360
NV                            6.9835              20360601                            360                      359
NV                            7.4835              20360701                            360                      360
NV                            7.2335              20360701                            360                      360
NV                            7.4835              20360601                            360                      359
NV                            5.4835              20360701                            360                      360
NV                            7.6085              20360601                            360                      359
MA                            7.2335              20360701                            360                      360
IL                            6.8585              20360601                            360                      359
CA                            6.7335              20360601                            360                      359
MA                            7.3585              20360601                            360                      359
CA                            6.7335              20360401                            360                      357
CO                            7.2335              20360701                            360                      360
MI                            6.8585              20360501                            360                      358
MA                            7.3585              20360601                            360                      359
MA                            7.2335              20360701                            360                      360
VA                            6.6085              20360601                            360                      359
CA                            7.2335              20360701                            360                      360
ME                            7.2335              20360601                            360                      359
ME                            7.9835              20360601                            360                      359
NH                            8.2335              20360601                            360                      359
AZ                            7.3585              20360501                            360                      358
MO                            7.2335              20360601                            360                      359
OK                            7.3585              20360601                            360                      359
OH                            7.6085              20360501                            360                      358
OK                            8.3585              20360601                            360                      359
OK                            8.3585              20360601                            360                      359
OH                            7.3585              20360601                            360                      359
OK                            8.3585              20360501                            360                      358
AZ                            7.4835              20360601                            360                      359
AZ                            6.7335              20360601                            360                      359
FL                            6.6085              20360601                            360                      359
OK                            7.1085              20360601                            360                      359
TX                            8.2335              20360601                            360                      359
OK                            8.4835              20360501                            360                      358
OK                            8.3585              20360501                            360                      358
MI                            8.1085              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            8.3585              20360501                            360                      358
TX                            7.3585              20360601                            360                      359
TX                            7.3585              20360501                            360                      358
TX                            7.1085              20360501                            360                      358
TX                            8.3585              20360501                            360                      358
AR                            8.6085              20360601                            360                      359
TX                            7.3585              20360501                            360                      358
TX                            8.1085              20360501                            360                      358
FL                            7.2335              20360501                            360                      358
TX                            7.2335              20360501                            360                      358
TX                            7.1085              20360601                            360                      359
UT                            6.7335              20360401                            360                      357
TX                            7.9835              20360601                            360                      359
FL                            6.9835              20360601                            360                      359
UT                            7.7335              20360701                            360                      360
FL                            7.9835              20360701                            360                      360
TX                            7.6085              20360501                            360                      358
FL                            7.4835              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
FL                            6.6085              20360601                            360                      359
UT                            7.7335              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
FL                            7.3585              20360601                            360                      359
FL                            7.4835              20360701                            360                      360
UT                            7.6085              20360501                            360                      358
CO                            6.9835              20360701                            360                      360
TX                            7.6085              20360701                            360                      360
ID                            7.2335              20360601                            360                      359
CO                            7.6085              20360701                            360                      360
UT                            7.6085              20360601                            360                      359
FL                            7.8585              20360601                            360                      359
UT                            6.3585              20360501                            360                      358
TX                            7.7335              20360601                            360                      359
UT                            8.1085              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
CA                            7.6085              20360601                            360                      359
TX                            7.7335              20360501                            360                      358
OR                            6.8585              20360701                            360                      360
UT                            7.1085              20360701                            360                      360
FL                            8.3585              20360601                            360                      359
FL                            7.7335              20360501                            360                      358
FL                            7.4835              20360501                            360                      358
TX                            7.4835              20360501                            360                      358
CO                            6.8585              20360701                            360                      360
CO                            7.2335              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
CO                            7.8585              20360501                            360                      358
FL                            7.2335              20360601                            360                      359
CA                            7.6085              20360601                            360                      359
TX                            7.7335              20360601                            360                      359
FL                            7.1085              20360601                            360                      359
UT                            7.2335              20360601                            360                      359
TX                            7.2335              20360601                            360                      359
UT                            7.4835              20360601                            360                      359
WA                            7.2335              20360601                            360                      359
UT                            7.4835              20360701                            360                      360
TX                            6.7335              20360401                            360                      357
CA                            7.2335              20360601                            360                      359
FL                            7.7335              20360601                            360                      359
TX                            6.8585              20360601                            360                      359
CO                            7.4835              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
CA                            6.7335              20360501                            360                      358
FL                            7.3585              20360701                            360                      360
CA                            7.6085              20360701                            360                      360
NC                            7.1085              20360601                            360                      359
TX                            7.6085              20360701                            360                      360
MI                            7.7335              20360601                            360                      359
IL                            8.6085              20360401                            360                      357
MI                            6.6085              20360201                            360                      355
OH                            7.6085              20360601                            360                      359
MI                            6.6085              20360101                            360                      354
NV                            6.2335              20360401                            360                      357
OH                            6.6085              20360601                            360                      359
CA                            6.9835              20360601                            360                      359
CA                            8.4835              20360501                            360                      358
VA                            7.2335              20360501                            360                      358
MD                            7.4835              20360601                            360                      359
MD                            7.4835              20360601                            360                      359
VA                            7.8585              20360701                            360                      360
VA                            7.2335              20360501                            360                      358
GA                            7.1085              20360701                            360                      360
VA                            7.2335              20360601                            360                      359
CT                            7.8585              20360201                            360                      355
GA                            6.8585              20360401                            360                      357
ME                            8.4835              20360701                            360                      360
GA                            6.3585              20360301                            360                      356
GA                            7.7335              20360601                            360                      359
MI                            6.6085              20360601                            360                      359
NV                            6.7335              20360601                            360                      359
NV                            6.6085              20360601                            360                      359
NV                            7.2335              20360601                            360                      359
ID                            6.9835              20360601                            360                      359
AZ                            7.6085              20360601                            360                      359
MI                            7.8585              20360601                            360                      359
MI                            7.8585              20360701                            360                      360
TX                            7.3585              20360701                            360                      360
TX                            7.3585              20360701                            360                      360
NE                            8.8585              20360701                            360                      360
CA                            7.4835              20360701                            360                      360
AZ                            6.9835              20360601                            360                      359
AZ                            7.4835              20360601                            360                      359
AZ                            6.9835              20360601                            360                      359
AZ                            7.3585              20360701                            360                      360
AZ                            7.1085              20360101                            360                      354
AZ                            6.9835              20360601                            360                      359
AZ                            7.1085              20360601                            360                      359
IL                            6.7335              20360501                            360                      358
NC                            6.8585              20360701                            360                      360
TN                            5.9835              20360501                            360                      358
TX                            7.9835              20360601                            360                      359
TX                            7.4835              20360601                            360                      359
TX                            8.7335              20360601                            360                      359
TX                            6.4835              20360601                            360                      359
TX                            6.7335              20360301                            360                      356
OH                            8.7335              20360601                            360                      359
SC                            8.6085              20360601                            360                      359
GA                            7.6085              20360601                            360                      359
GA                            7.6085              20360601                            360                      359
GA                            7.6085              20360701                            360                      360
GA                            7.1085              20360701                            360                      360
MI                            7.9835              20360501                            360                      358
MI                            7.1085              20360601                            360                      359
MI                            6.6085              20360401                            360                      357
GA                            7.1085              20360601                            360                      359
MI                            7.4835              20360601                            360                      359
MI                            8.2335              20360601                            360                      359
MN                            7.3585              20360601                            360                      359
CA                            6.9835              20360601                            360                      359
WA                            7.4835              20360601                            360                      359
CA                            7.3585              20360301                            360                      356
PA                            7.2335              20360601                            360                      359
DE                            7.7335              20360601                            360                      359
PA                            7.2335              20360601                            360                      359
NJ                            7.1085              20360601                            360                      359
PA                            6.8585              20360701                            360                      360
PA                            7.4835              20360401                            360                      357
NJ                            7.9835              20360601                            360                      359
NJ                            7.2335              20360601                            360                      359
NJ                            7.2335              20360601                            360                      359
PA                            7.3585              20360501                            360                      358
NJ                            7.6085              20360501                            360                      358
PA                            7.6085              20360601                            360                      359
PA                            6.8585              20360701                            360                      360
NJ                            6.9835              20360601                            360                      359
NJ                            7.9835              20360601                            360                      359
PA                            7.2335              20360601                            360                      359
PA                            7.9835              20360701                            360                      360
DE                            7.3585              20360601                            360                      359
NJ                            7.2335              20360601                            360                      359
DE                            7.2335              20360601                            360                      359
PA                            7.4835              20360601                            360                      359
IN                            7.1085              20360601                            360                      359
FL                            8.2335              20360601                            360                      359
CO                            8.1085              20360601                            360                      359
WI                            7.8585              20360601                            360                      359
WI                            7.8585              20360601                            360                      359
WI                            7.6085              20360601                            360                      359
MN                            8.7335              20360501                            360                      358
WI                            7.4835              20360601                            360                      359
MN                            8.1085              20360701                            360                      360
IA                            7.3585              20360701                            360                      360
VA                            7.8585              20360701                            360                      360
MD                            7.6085              20360701                            360                      360
GA                            7.7335              20360701                            360                      360
IL                            7.9835              20360701                            360                      360
VA                            7.2335              20360601                            360                      359
FL                            7.1085              20360701                            360                      360
VA                            7.4835              20360701                            360                      360
NJ                            6.7335              20360601                            360                      359
NJ                            6.7335              20360601                            360                      359
NJ                            6.7335              20360701                            360                      360
TX                            8.2335              20360601                            360                      359
MI                            7.4835              20360501                            360                      358
CA                            7.4835              20360601                            360                      359
CA                            7.6085              20360601                            360                      359
CO                            6.2335              20360501                            360                      358
MA                            7.6085              20360701                            360                      360
TX                            6.9835              20360601                            360                      359
MA                            6.6085              20360701                            360                      360
TX                            6.8585              20360701                            360                      360
VA                            6.4835              20360601                            360                      359
NH                            6.7335              20360601                            360                      359
MA                            7.3585              20360601                            360                      359
RI                            7.9835              20360501                            360                      358
IL                            6.8585              20360701                            360                      360
AZ                            6.7335              20360601                            360                      359
WA                            6.6085              20360701                            360                      360
MA                            6.6085              20360701                            360                      360
MO                            8.8585              20360601                            360                      359
WI                            8.7335              20360601                            360                      359
GA                            6.8585              20360601                            360                      359
MO                            8.2335              20360701                            360                      360
MO                            8.2335              20360701                            360                      360
MI                            8.2335              20360501                            360                      358
WI                            8.2335              20360601                            360                      359
OH                            8.2335              20360601                            360                      359
FL                            7.6085              20360501                            360                      358
WI                            8.7335              20360601                            360                      359
MO                            7.8585              20360601                            360                      359
AZ                            7.6085              20360601                            360                      359
NH                            8.4835              20360601                            360                      359
WI                            8.2335              20360601                            360                      359
MO                            8.2335              20360701                            360                      360
AZ                            7.2335              20360601                            360                      359
AZ                            7.6085              20360601                            360                      359
VA                            7.7335              20360501                            360                      358
VA                            8.6085              20360401                            360                      357
TX                            7.6085              20360601                            360                      359
TX                            9.2335              20360601                            360                      359
TX                            7.1085              20360601                            360                      359
TX                            7.8585              20360701                            360                      360
CO                            7.7335              20360701                            360                      360
TX                            7.3585              20360701                            360                      360
TX                            7.6085              20360601                            360                      359
TX                            7.6085              20360601                            360                      359
TX                            6.9835              20360601                            360                      359
TX                            7.3585              20360601                            360                      359
TX                            7.9835              20360501                            360                      358
TX                            6.6085              20360601                            360                      359
TX                            8.2335              20360601                            360                      359
TX                            8.3585              20360701                            360                      360
TX                            7.4835              20360701                            360                      360

STATE            ORIGINAL_                            BALLOON            NEG_AM            ORIGINAL_             FIRST_PAY
                 AMORTIZATION_TERM                                                         BALANCE               _DATE
---------------------------------------------------------------------------------------------------------------------------------
VA                                           360      No                 NO                      196,000.00             20060701
VA                                           360      No                 NO                      375,920.00             20060701
MD                                           480      Yes                NO                      225,000.00             20060701
DC                                           360      No                 NO                      569,000.00             20060701
MD                                           360      No                 NO                      226,560.00             20060701
GA                                           360      No                 NO                      256,000.00             20060701
VA                                           360      No                 NO                      308,000.00             20060701
VA                                           360      No                 NO                      324,000.00             20060701
MD                                           360      No                 NO                      204,000.00             20060701
VA                                           360      No                 NO                      364,000.00             20060801
PA                                           360      No                 NO                      105,600.00             20060701
GA                                           360      No                 NO                      220,000.00             20060701
PA                                           360      No                 NO                      348,000.00             20060701
MD                                           360      No                 NO                      308,000.00             20060801
MD                                           360      No                 NO                      473,600.00             20060701
VA                                           360      No                 NO                      568,000.00             20060701
GA                                           480      Yes                NO                      115,920.00             20060801
VA                                           360      No                 NO                      530,000.00             20060601
MD                                           360      No                 NO                      549,000.00             20060701
MD                                           360      No                 NO                      110,000.00             20060701
MD                                           360      No                 NO                      240,800.00             20060701
DE                                           360      No                 NO                      180,200.00             20060701
DE                                           360      No                 NO                       85,000.00             20060801
MD                                           360      No                 NO                      174,050.00             20060701
DE                                           360      No                 NO                       52,500.00             20060801
MD                                           360      No                 NO                      154,500.00             20060701
MD                                           360      No                 NO                      348,000.00             20060701
MD                                           360      No                 NO                       52,000.00             20060701
UT                                           360      No                 NO                      187,836.00             20060801
ID                                           360      No                 NO                      511,900.00             20060801
NY                                           360      No                 NO                      333,750.00             20060701
NY                                           360      No                 NO                      332,000.00             20060701
NY                                           360      No                 NO                      384,000.00             20060801
NY                                           360      No                 NO                      337,500.00             20060701
MS                                           360      No                 NO                      188,516.00             20060801
NY                                           360      No                 NO                      498,400.00             20060701
FL                                           360      No                 NO                      163,200.00             20060701
NY                                           360      No                 NO                      453,200.00             20060701
NY                                           360      No                 NO                    1,202,500.00             20060701
NJ                                           360      No                 NO                      375,000.00             20060701
NY                                           360      No                 NO                      360,000.00             20060801
NY                                           360      No                 NO                      516,000.00             20060701
NY                                           360      No                 NO                      307,665.00             20060701
NJ                                           360      No                 NO                      268,000.00             20060701
NY                                           360      No                 NO                      325,000.00             20060701
GA                                           360      No                 NO                       86,400.00             20060701
NY                                           360      No                 NO                      344,250.00             20060701
NY                                           360      No                 NO                      315,000.00             20060701
NY                                           360      No                 NO                      220,000.00             20060801
NY                                           360      No                 NO                      520,000.00             20060701
NY                                           360      No                 NO                      232,500.00             20060701
NJ                                           360      No                 NO                      193,600.00             20060701
MD                                           360      No                 NO                    1,091,750.00             20060701
FL                                           360      No                 NO                      228,000.00             20060701
NJ                                           360      No                 NO                      333,600.00             20060601
NJ                                           360      No                 NO                      261,800.00             20060701
FL                                           360      No                 NO                      116,000.00             20060701
FL                                           360      No                 NO                      168,000.00             20060701
NC                                           360      No                 NO                       59,920.00             20060801
PA                                           360      No                 NO                       70,700.00             20060701
PA                                           360      No                 NO                      120,000.00             20060601
NJ                                           360      No                 NO                      165,900.00             20060701
NJ                                           360      No                 NO                      287,200.00             20060601
NJ                                           360      No                 NO                      206,250.00             20060701
NJ                                           360      No                 NO                      322,500.00             20060701
NJ                                           360      No                 NO                      259,560.00             20060801
NJ                                           360      No                 NO                      158,900.00             20060701
PA                                           360      No                 NO                      126,000.00             20060701
PA                                           360      No                 NO                       56,000.00             20060801
FL                                           360      No                 NO                      123,500.00             20060701
NJ                                           360      No                 NO                      101,500.00             20060801
NJ                                           360      No                 NO                      417,000.00             20060701
FL                                           360      No                 NO                      101,500.00             20060801
NC                                           360      No                 NO                       52,500.00             20060801
NJ                                           360      No                 NO                      153,600.00             20060801
NJ                                           360      No                 NO                      210,000.00             20060701
NJ                                           360      No                 NO                       96,000.00             20060701
FL                                           360      No                 NO                       68,250.00             20060801
GA                                           360      No                 NO                      120,000.00             20060601
NC                                           360      No                 NO                       73,200.00             20060701
GA                                           360      No                 NO                      177,100.00             20060401
GA                                           360      No                 NO                      119,920.00             20060501
GA                                           360      No                 NO                      118,800.00             20060601
SC                                           360      No                 NO                      150,350.00             20060501
GA                                           360      No                 NO                       63,500.00             20060701
GA                                           360      No                 NO                      106,300.00             20060601
GA                                           360      No                 NO                      568,000.00             20060701
TX                                           360      No                 NO                       72,200.00             20060601
TX                                           360      No                 NO                      161,900.00             20060801
OK                                           360      No                 NO                       85,600.00             20060801
TX                                           360      No                 NO                      123,600.00             20060601
TX                                           360      No                 NO                      123,600.00             20060601
TX                                           360      No                 NO                      127,500.00             20060701
TX                                           360      No                 NO                       87,750.00             20060801
TX                                           360      No                 NO                      100,000.00             20060701
TX                                           360      No                 NO                       80,800.00             20060701
TX                                           360      No                 NO                      360,000.00             20060801
TX                                           360      No                 NO                       48,000.00             20060701
WA                                           360      No                 NO                      196,000.00             20060801
OH                                           360      No                 NO                      104,000.00             20060701
TX                                           360      No                 NO                       80,000.00             20060701
FL                                           360      No                 NO                      258,750.00             20060301
TX                                           360      No                 NO                       80,000.00             20060801
TX                                           360      No                 NO                      189,300.00             20060501
TX                                           360      No                 NO                       70,900.00             20060801
TX                                           360      No                 NO                       54,000.00             20060701
OR                                           360      No                 NO                      260,000.00             20060701
TX                                           360      No                 NO                      153,000.00             20060701
OK                                           360      No                 NO                       70,800.00             20060801
TX                                           360      No                 NO                       80,800.00             20060701
TX                                           360      No                 NO                       58,050.00             20060601
TX                                           360      No                 NO                      109,600.00             20060801
TX                                           360      No                 NO                       70,800.00             20060701
NM                                           360      No                 NO                       78,000.00             20060801
FL                                           360      No                 NO                      216,000.00             20060701
FL                                           360      No                 NO                      111,150.00             20060601
PA                                           360      No                 NO                       64,000.00             20060701
NJ                                           360      No                 NO                      432,000.00             20060501
NJ                                           360      No                 NO                      176,000.00             20060701
NJ                                           360      No                 NO                      256,800.00             20060501
NJ                                           360      No                 NO                      208,000.00             20060601
FL                                           360      No                 NO                       94,850.00             20060701
CO                                           360      No                 NO                      192,000.00             20060701
FL                                           360      No                 NO                      227,920.00             20060701
CO                                           360      No                 NO                      183,120.00             20060801
CO                                           360      No                 NO                      204,000.00             20060701
FL                                           360      No                 NO                      168,000.00             20060601
TN                                           360      No                 NO                      169,600.00             20060601
FL                                           360      No                 NO                      504,000.00             20060701
TN                                           360      No                 NO                       51,000.00             20060601
FL                                           360      No                 NO                      158,000.00             20060601
FL                                           360      No                 NO                      417,000.00             20060501
TN                                           360      No                 NO                       51,000.00             20060601
FL                                           360      No                 NO                      507,600.00             20060601
AL                                           360      No                 NO                      515,040.00             20060601
TN                                           360      No                 NO                       51,000.00             20060601
FL                                           360      No                 NO                      287,200.00             20060601
FL                                           360      No                 NO                       70,400.00             20060701
TN                                           360      No                 NO                       51,000.00             20060601
TN                                           360      No                 NO                       91,600.00             20060601
FL                                           360      No                 NO                      167,200.00             20060601
TN                                           360      No                 NO                      132,000.00             20060601
TN                                           360      No                 NO                       51,000.00             20060601
FL                                           360      No                 NO                      520,000.00             20060701
LA                                           360      No                 NO                       95,000.00             20060601
TN                                           360      No                 NO                       78,200.00             20060601
FL                                           360      No                 NO                      135,000.00             20060601
FL                                           360      No                 NO                      720,000.00             20060601
GA                                           360      No                 NO                       93,600.00             20060701
GA                                           360      No                 NO                      109,200.00             20060601
GA                                           360      No                 NO                       74,890.00             20060701
GA                                           360      No                 NO                       75,200.00             20060701
GA                                           360      No                 NO                       62,400.00             20060701
GA                                           360      No                 NO                      100,000.00             20060801
GA                                           360      No                 NO                      121,500.00             20060801
GA                                           360      No                 NO                      194,320.00             20060601
GA                                           360      No                 NO                      134,400.00             20060701
GA                                           360      No                 NO                      145,920.00             20060701
GA                                           360      No                 NO                       93,400.00             20060601
GA                                           360      No                 NO                       81,600.00             20060701
CA                                           360      No                 NO                      162,000.00             20060701
PA                                           360      No                 NO                       64,800.00             20060701
NJ                                           360      No                 NO                      145,000.00             20060701
PA                                           360      No                 NO                      167,200.00             20060601
PA                                           360      No                 NO                       40,000.00             20060801
PA                                           360      No                 NO                      108,800.00             20060701
PA                                           360      No                 NO                      136,000.00             20060701
NY                                           360      No                 NO                      376,000.00             20060701
PA                                           360      No                 NO                       42,400.00             20060801
PA                                           360      No                 NO                       51,600.00             20060601
PA                                           360      No                 NO                       45,600.00             20060701
PA                                           360      No                 NO                      500,000.00             20060701
PA                                           360      No                 NO                       91,200.00             20060701
NY                                           360      No                 NO                      180,000.00             20060701
FL                                           360      No                 NO                      750,000.00             20060701
NY                                           360      No                 NO                      350,000.00             20060701
NY                                           360      No                 NO                    1,100,000.00             20060701
NJ                                           360      No                 NO                      600,000.00             20060801
NY                                           360      No                 NO                      200,000.00             20060701
NY                                           360      No                 NO                      650,000.00             20060801
AZ                                           360      No                 NO                      175,920.00             20060701
AZ                                           480      Yes                NO                      215,200.00             20060701
NJ                                           360      No                 NO                       63,750.00             20060601
NJ                                           360      No                 NO                      106,000.00             20060401
AR                                           360      No                 NO                       52,400.00             20060701
TX                                           360      No                 NO                       94,400.00             20060801
TX                                           360      No                 NO                       54,000.00             20060701
TX                                           360      No                 NO                      128,000.00             20060701
TX                                           360      No                 NO                       51,500.00             20060701
IL                                           360      No                 NO                      131,200.00             20060501
GA                                           360      No                 NO                      413,500.00             20060601
FL                                           360      No                 NO                      104,000.00             20060601
FL                                           360      No                 NO                      163,920.00             20060601
GA                                           360      No                 NO                       76,000.00             20060601
FL                                           360      No                 NO                      145,520.00             20051101
SC                                           360      No                 NO                      450,000.00             20060701
CO                                           480      Yes                NO                      114,100.00             20060601
GA                                           360      No                 NO                       95,200.00             20060701
FL                                           360      No                 NO                      158,950.00             20060101
IN                                           480      Yes                NO                      104,000.00             20060701
MO                                           360      No                 NO                      279,572.00             20060701
AZ                                           360      No                 NO                       55,280.00             20060701
FL                                           360      No                 NO                      179,200.00             20060601
NJ                                           360      No                 NO                      272,000.00             20060701
NY                                           360      No                 NO                      335,200.00             20060701
CA                                           360      No                 NO                      139,600.00             20060701
CA                                           360      No                 NO                      491,400.00             20060501
VA                                           360      No                 NO                      252,000.00             20060701
AZ                                           360      No                 NO                      665,000.00             20060701
TX                                           360      No                 NO                      231,631.00             20060201
CA                                           360      No                 NO                      329,600.00             20060701
TX                                           360      No                 NO                      113,050.00             20060701
TX                                           360      No                 NO                      182,779.00             20060701
AZ                                           360      No                 NO                      476,250.00             20060701
GA                                           360      No                 NO                      107,520.00             20060701
TX                                           360      No                 NO                      187,500.00             20060701
WA                                           360      No                 NO                      361,874.00             20060701
TX                                           360      No                 NO                      105,446.00             20060701
NC                                           360      No                 NO                      140,819.00             20060701
IN                                           360      No                 NO                       82,320.00             20060701
NC                                           360      No                 NO                      165,788.00             20060601
CO                                           480      Yes                NO                       60,000.00             20060701
AZ                                           360      No                 NO                      230,421.00             20060801
CO                                           360      No                 NO                      115,430.00             20060601
TX                                           360      No                 NO                       87,596.00             20060601
CA                                           360      No                 NO                      288,000.00             20060801
MN                                           360      No                 NO                      166,400.00             20060701
MN                                           360      No                 NO                      286,800.00             20060701
TX                                           360      No                 NO                      128,000.00             20060601
GA                                           360      No                 NO                       84,000.00             20060801
GA                                           360      No                 NO                       71,600.00             20060701
TX                                           360      No                 NO                      105,150.00             20060701
GA                                           360      No                 NO                      223,920.00             20060701
TX                                           360      No                 NO                       97,552.00             20060701
CA                                           360      No                 NO                      332,500.00             20060801
GA                                           360      No                 NO                      117,600.00             20060701
IL                                           360      No                 NO                      259,840.00             20060801
IL                                           360      No                 NO                       81,600.00             20060801
NJ                                           360      No                 NO                      646,750.00             20060701
TX                                           360      No                 NO                       56,000.00             20060701
TX                                           360      No                 NO                      130,700.00             20060701
TX                                           360      No                 NO                      157,178.00             20060701
TX                                           360      No                 NO                      102,400.00             20060701
TX                                           360      No                 NO                       54,100.00             20060701
TX                                           360      No                 NO                      113,689.00             20060701
GA                                           360      No                 NO                      212,400.00             20060701
TX                                           360      No                 NO                      102,100.00             20060701
TX                                           360      No                 NO                      164,736.00             20060701
GA                                           360      No                 NO                      214,400.00             20060701
NC                                           360      No                 NO                      151,920.00             20060701
TX                                           360      No                 NO                      162,400.00             20060701
TX                                           360      No                 NO                       85,050.00             20060701
TX                                           360      No                 NO                       50,250.00             20060801
UT                                           360      No                 NO                      323,842.00             20060701
CA                                           480      Yes                NO                      274,300.00             20060601
PA                                           360      No                 NO                      140,800.00             20060601
PA                                           360      No                 NO                      163,920.00             20060701
MD                                           360      No                 NO                      328,000.00             20060701
MI                                           360      No                 NO                       78,500.00             20060701
KY                                           360      No                 NO                       48,150.00             20060401
OH                                           360      No                 NO                      120,000.00             20060701
NV                                           360      No                 NO                      217,600.00             20060601
WA                                           360      No                 NO                      440,000.00             20060701
FL                                           360      No                 NO                      208,000.00             20060701
MD                                           360      No                 NO                      104,000.00             20060601
GA                                           360      No                 NO                       86,400.00             20060601
OR                                           360      No                 NO                      158,200.00             20060701
TX                                           360      No                 NO                      166,593.00             20060701
CA                                           360      No                 NO                      234,000.00             20060601
TX                                           360      No                 NO                      159,200.00             20060701
AZ                                           360      No                 NO                      406,500.00             20060701
TX                                           360      No                 NO                      128,000.00             20060601
AZ                                           360      No                 NO                      284,000.00             20060701
MD                                           360      No                 NO                      270,000.00             20060601
CA                                           480      Yes                NO                      207,000.00             20060501
CA                                           360      No                 NO                      234,000.00             20060601
AZ                                           360      No                 NO                      184,500.00             20060701
CA                                           360      No                 NO                      199,500.00             20060601
AZ                                           360      No                 NO                      239,500.00             20060701
FL                                           360      No                 NO                      200,000.00             20060701
FL                                           360      No                 NO                       74,400.00             20060701
CA                                           360      No                 NO                      332,000.00             20060701
AZ                                           360      No                 NO                      138,600.00             20060701
CA                                           360      No                 NO                      417,000.00             20060701
TX                                           360      No                 NO                       64,000.00             20060701
ID                                           360      No                 NO                      137,250.00             20060801
CA                                           360      No                 NO                      392,000.00             20060701
TX                                           360      No                 NO                      128,000.00             20060701
FL                                           360      No                 NO                      270,400.00             20060801
PA                                           360      No                 NO                      139,600.00             20060601
CA                                           480      Yes                NO                      344,000.00             20060601
KY                                           360      No                 NO                      138,400.00             20060601
TX                                           360      No                 NO                      120,600.00             20060701
TX                                           360      No                 NO                       87,850.00             20060601
FL                                           360      No                 NO                      140,000.00             20060701
AR                                           360      No                 NO                      100,800.00             20060701
AR                                           360      No                 NO                       75,200.00             20060701
OR                                           360      No                 NO                      240,000.00             20060701
MD                                           360      No                 NO                      172,000.00             20060701
ID                                           360      No                 NO                      166,400.00             20060701
CA                                           360      No                 NO                    1,000,000.00             20060801
CA                                           360      No                 NO                      350,000.00             20060701
ID                                           360      No                 NO                      116,800.00             20060801
VA                                           360      No                 NO                      169,200.00             20060801
NJ                                           360      No                 NO                      396,000.00             20060601
CA                                           360      No                 NO                      390,000.00             20060701
VA                                           360      No                 NO                      134,360.00             20060701
OR                                           360      No                 NO                      418,000.00             20060701
OR                                           360      No                 NO                      292,000.00             20060601
OR                                           360      No                 NO                      175,200.00             20060801
ID                                           360      No                 NO                      299,200.00             20060801
TX                                           360      No                 NO                      134,392.00             20060701
PA                                           360      No                 NO                       42,300.00             20060701
CA                                           360      No                 NO                      224,000.00             20060601
CA                                           360      No                 NO                      268,000.00             20060701
KY                                           360      No                 NO                      109,200.00             20060701
FL                                           360      No                 NO                      156,000.00             20060601
MD                                           360      No                 NO                      305,000.00             20060701
OH                                           360      No                 NO                      100,000.00             20060601
IN                                           360      No                 NO                      176,000.00             20060701
OH                                           360      No                 NO                       75,200.00             20060701
KY                                           360      No                 NO                       48,900.00             20060701
IN                                           360      No                 NO                      168,750.00             20060801
KY                                           360      No                 NO                      144,000.00             20060701
OH                                           360      No                 NO                       60,000.00             20060701
IN                                           360      No                 NO                       46,875.00             20060701
OH                                           360      No                 NO                      104,000.00             20060601
OH                                           360      No                 NO                      112,000.00             20060701
KY                                           360      No                 NO                      223,920.00             20060801
IN                                           360      No                 NO                      120,000.00             20060601
OH                                           360      No                 NO                       40,000.00             20060801
TN                                           360      No                 NO                      158,000.00             20060801
OH                                           360      No                 NO                       50,400.00             20060701
KY                                           360      No                 NO                       70,500.00             20060701
IN                                           360      No                 NO                       51,000.00             20060701
KY                                           360      No                 NO                      180,000.00             20060801
HI                                           360      No                 NO                      159,250.00             20060701
HI                                           360      No                 NO                      149,500.00             20060701
CO                                           360      No                 NO                      171,920.00             20060601
FL                                           360      No                 NO                      116,000.00             20060701
CO                                           360      No                 NO                      177,500.00             20060701
CO                                           360      No                 NO                      188,000.00             20060601
CO                                           360      No                 NO                      371,000.00             20060701
CO                                           360      No                 NO                      112,000.00             20060701
IL                                           360      No                 NO                      260,000.00             20060601
WY                                           360      No                 NO                      144,800.00             20060701
FL                                           360      No                 NO                      127,200.00             20060801
DC                                           360      No                 NO                      975,000.00             20060601
VA                                           360      No                 NO                      825,000.00             20060701
NJ                                           360      No                 NO                      576,400.00             20060801
ME                                           360      No                 NO                      230,825.00             20060801
VA                                           360      No                 NO                      475,000.00             20060801
VA                                           360      No                 NO                      400,000.00             20060701
DE                                           360      No                 NO                      184,000.00             20060601
ID                                           360      No                 NO                      259,200.00             20060801
TX                                           360      No                 NO                       69,000.00             20060701
SC                                           360      No                 NO                       96,000.00             20060701
GA                                           360      No                 NO                      380,070.00             20060601
SC                                           360      No                 NO                       74,900.00             20060801
SC                                           360      No                 NO                       88,000.00             20060701
NC                                           360      No                 NO                      150,000.00             20060601
MN                                           360      No                 NO                      320,800.00             20060501
AZ                                           360      No                 NO                       68,800.00             20060401
TX                                           360      No                 NO                       87,950.00             20060701
TX                                           360      No                 NO                       63,920.00             20060701
TX                                           480      Yes                NO                      158,000.00             20060701
TX                                           360      No                 NO                      102,400.00             20060701
AZ                                           360      No                 NO                      191,250.00             20060701
FL                                           360      No                 NO                      101,430.00             20060501
AZ                                           360      No                 NO                      195,300.00             20060701
TX                                           480      Yes                NO                      158,000.00             20060701
KS                                           360      No                 NO                       70,400.00             20060701
AZ                                           360      No                 NO                      205,778.00             20060701
MO                                           360      No                 NO                       82,720.00             20060701
TX                                           360      No                 NO                       88,720.00             20060801
AZ                                           360      No                 NO                      340,000.00             20060801
TX                                           360      No                 NO                      124,520.00             20060701
CO                                           360      No                 NO                      119,200.00             20060701
AZ                                           360      No                 NO                      347,200.00             20060701
TX                                           360      No                 NO                      100,800.00             20060801
MO                                           360      No                 NO                       78,400.00             20060701
TX                                           360      No                 NO                      242,428.00             20060701
MO                                           360      No                 NO                      122,800.00             20060601
TX                                           360      No                 NO                       95,876.00             20060801
TX                                           360      No                 NO                       66,375.00             20060601
TX                                           360      No                 NO                       82,500.00             20060701
TX                                           360      No                 NO                       42,675.00             20060701
TX                                           360      No                 NO                       70,125.00             20060601
TX                                           360      No                 NO                      188,000.00             20060601
TX                                           360      No                 NO                       70,989.00             20060601
TX                                           360      No                 NO                      157,500.00             20060701
NC                                           360      No                 NO                      111,600.00             20060701
TX                                           360      No                 NO                       86,250.00             20060801
TX                                           360      No                 NO                      112,400.00             20060601
TX                                           360      No                 NO                       84,198.00             20060701
TN                                           360      No                 NO                      100,000.00             20060601
TX                                           360      No                 NO                      151,920.00             20060701
TX                                           360      No                 NO                       70,989.00             20060701
TX                                           360      No                 NO                       70,989.00             20060701
TX                                           360      No                 NO                      116,250.00             20060701
FL                                           360      No                 NO                      207,900.00             20060701
NC                                           360      No                 NO                      191,150.00             20060601
FL                                           360      No                 NO                      239,489.00             20060701
CA                                           360      No                 NO                      310,000.00             20060701
CA                                           360      No                 NO                      184,000.00             20060601
FL                                           360      No                 NO                      219,920.00             20060601
NM                                           360      No                 NO                      171,750.00             20060601
CO                                           360      No                 NO                      167,064.00             20060501
VA                                           360      No                 NO                      211,920.00             20060701
OH                                           360      No                 NO                      213,600.00             20060701
FL                                           360      No                 NO                      128,995.00             20060701
FL                                           360      No                 NO                      138,512.00             20060801
FL                                           360      No                 NO                      155,192.00             20060701
OH                                           360      No                 NO                      143,032.00             20060701
FL                                           360      No                 NO                      208,336.00             20060801
OH                                           360      No                 NO                      112,000.00             20060701
FL                                           360      No                 NO                      188,792.00             20060701
NY                                           360      No                 NO                      100,000.00             20060201
NY                                           360      No                 NO                      125,000.00             20060101
TN                                           360      No                 NO                      176,800.00             20060701
RI                                           360      No                 NO                      288,000.00             20060701
NY                                           360      No                 NO                      270,000.00             20060701
NJ                                           360      No                 NO                      261,600.00             20060701
PA                                           360      No                 NO                       47,475.00             20060701
CT                                           480      Yes                NO                      208,720.00             20060601
RI                                           480      Yes                NO                      384,000.00             20060701
NJ                                           360      No                 NO                      973,500.00             20060801
OK                                           360      No                 NO                       54,400.00             20060701
TX                                           360      No                 NO                      148,200.00             20060701
TX                                           360      No                 NO                       86,015.00             20060701
OK                                           360      No                 NO                      100,000.00             20060701
OK                                           360      No                 NO                       66,400.00             20060701
TX                                           360      No                 NO                      114,400.00             20060701
OK                                           360      No                 NO                       94,760.00             20060601
TX                                           360      No                 NO                      129,600.00             20060701
TX                                           360      No                 NO                      417,000.00             20060801
TX                                           360      No                 NO                      140,000.00             20060701
MD                                           360      No                 NO                      404,000.00             20060601
VA                                           360      No                 NO                      169,500.00             20060701
MD                                           360      No                 NO                       72,800.00             20060601
NC                                           360      No                 NO                      126,200.00             20060701
DC                                           360      No                 NO                      341,250.00             20060601
NC                                           360      No                 NO                      181,000.00             20060601
MD                                           360      No                 NO                      279,200.00             20060701
MD                                           360      No                 NO                      206,100.00             20060701
NC                                           360      No                 NO                       86,200.00             20060701
MD                                           360      No                 NO                      104,000.00             20060701
ME                                           360      No                 NO                      143,000.00             20060701
MA                                           360      No                 NO                      176,000.00             20060501
RI                                           360      No                 NO                      236,000.00             20060601
MD                                           360      No                 NO                      417,000.00             20060701
CA                                           360      No                 NO                      417,000.00             20060801
CT                                           360      No                 NO                      153,400.00             20060701
CA                                           360      No                 NO                      570,000.00             20060801
CA                                           360      No                 NO                      650,000.00             20060601
SC                                           360      No                 NO                       93,750.00             20060801
AL                                           360      No                 NO                      105,000.00             20060601
VA                                           360      No                 NO                      300,000.00             20060501
FL                                           360      No                 NO                       70,000.00             20060701
MD                                           360      No                 NO                      353,650.00             20060701
NJ                                           360      No                 NO                      194,400.00             20060701
GA                                           360      No                 NO                      138,000.00             20060701
NC                                           360      No                 NO                      124,500.00             20060701
NC                                           360      No                 NO                      106,500.00             20060601
FL                                           360      No                 NO                      208,000.00             20060601
MD                                           360      No                 NO                       81,900.00             20060801
WA                                           360      No                 NO                      183,750.00             20060801
WA                                           360      No                 NO                      100,000.00             20060401
KS                                           360      No                 NO                       90,350.00             20060701
IN                                           360      No                 NO                      121,500.00             20060601
WA                                           360      No                 NO                      197,850.00             20060801
TX                                           360      No                 NO                       53,200.00             20060601
IL                                           360      No                 NO                      203,000.00             20060501
CA                                           360      No                 NO                      280,000.00             20060501
IL                                           360      No                 NO                      107,900.00             20060501
NY                                           360      No                 NO                      281,600.00             20060601
PA                                           360      No                 NO                      142,800.00             20060601
CA                                           360      No                 NO                      525,000.00             20060401
MI                                           360      No                 NO                       36,700.00             20060501
CO                                           360      No                 NO                      162,400.00             20060601
TX                                           360      No                 NO                      124,800.00             20060701
FL                                           360      No                 NO                       92,000.00             20060401
TX                                           360      No                 NO                      148,000.00             20060301
TX                                           360      No                 NO                      195,040.00             20060201
NM                                           360      No                 NO                      227,200.00             20060701
FL                                           360      No                 NO                      411,340.00             20060701
PA                                           360      No                 NO                      255,500.00             20060601
NV                                           360      No                 NO                    1,950,000.00             20060701
AZ                                           360      No                 NO                      141,000.00             20060801
CA                                           360      No                 NO                      486,000.00             20060601
CA                                           360      No                 NO                      307,500.00             20060701
AZ                                           360      No                 NO                      103,900.00             20060701
MD                                           360      No                 NO                      279,200.00             20060701
CA                                           480      Yes                NO                      268,000.00             20060601
AZ                                           360      No                 NO                      171,000.00             20060801
AZ                                           360      No                 NO                      140,000.00             20060801
AZ                                           360      No                 NO                      112,000.00             20060601
NY                                           360      No                 NO                      344,000.00             20060801
NY                                           360      No                 NO                      267,800.00             20060701
NY                                           360      No                 NO                      473,800.00             20060701
NJ                                           360      No                 NO                      309,600.00             20060701
PA                                           360      No                 NO                       67,200.00             20060701
PA                                           360      No                 NO                      106,400.00             20060801
FL                                           360      No                 NO                      308,091.00             20060601
FL                                           360      No                 NO                      128,280.00             20060501
TX                                           360      No                 NO                      313,040.00             20060501
CA                                           360      No                 NO                      160,000.00             20060701
CA                                           360      No                 NO                      312,000.00             20060701
NY                                           360      No                 NO                      239,000.00             20060601
NY                                           360      No                 NO                      464,000.00             20060501
NY                                           360      No                 NO                      850,000.00             20060701
UT                                           360      No                 NO                       65,925.00             20060601
OR                                           360      No                 NO                      325,000.00             20060701
ID                                           360      No                 NO                      217,000.00             20060701
WA                                           360      No                 NO                      280,000.00             20060701
CA                                           360      No                 NO                      324,000.00             20060601
FL                                           360      No                 NO                      285,000.00             20060401
WA                                           360      No                 NO                      180,000.00             20060801
OH                                           360      No                 NO                       56,800.00             20060701
MD                                           360      No                 NO                      650,000.00             20060801
MD                                           360      No                 NO                      228,000.00             20060701
VA                                           360      No                 NO                      412,000.00             20060801
MD                                           360      No                 NO                       87,200.00             20060701
MD                                           360      No                 NO                      292,000.00             20060701
CO                                           360      No                 NO                      110,400.00             20060801
MD                                           360      No                 NO                      236,000.00             20060701
CA                                           360      No                 NO                    1,120,700.00             20060701
IA                                           360      No                 NO                      100,000.00             20060701
SC                                           360      No                 NO                      700,000.00             20060701
MD                                           360      No                 NO                      208,000.00             20060701
FL                                           360      No                 NO                      147,900.00             20060801
FL                                           360      No                 NO                      148,000.00             20060601
FL                                           360      No                 NO                      151,900.00             20060801
FL                                           360      No                 NO                      147,900.00             20060701
FL                                           360      No                 NO                      184,000.00             20060701
CA                                           360      No                 NO                      492,000.00             20060801
CA                                           360      No                 NO                      340,000.00             20060701
WA                                           360      No                 NO                      272,800.00             20060701
GA                                           360      No                 NO                      360,000.00             20060701
SC                                           360      No                 NO                       46,800.00             20060601
SC                                           360      No                 NO                       48,410.00             20060801
GA                                           360      No                 NO                       68,000.00             20060701
FL                                           360      No                 NO                       92,000.00             20060601
GA                                           360      No                 NO                      288,000.00             20060801
GA                                           360      No                 NO                      142,800.00             20060701
SC                                           360      No                 NO                       98,000.00             20060601
NV                                           360      No                 NO                      284,000.00             20060701
CO                                           480      Yes                NO                      204,892.00             20060801
NV                                           480      Yes                NO                      305,597.00             20060701
UT                                           480      Yes                NO                      179,362.00             20060701
GA                                           360      No                 NO                      323,400.00             20060601
GA                                           360      No                 NO                      239,600.00             20060601
GA                                           360      No                 NO                       78,850.00             20060701
GA                                           360      No                 NO                      104,800.00             20060601
GA                                           360      No                 NO                      498,400.00             20060701
GA                                           360      No                 NO                      150,400.00             20060601
FL                                           360      No                 NO                      136,000.00             20060801
GA                                           360      No                 NO                      198,100.00             20060701
NC                                           360      No                 NO                      208,000.00             20060701
GA                                           360      No                 NO                      182,400.00             20060701
GA                                           360      No                 NO                      504,000.00             20060801
GA                                           360      No                 NO                      196,000.00             20060701
GA                                           360      No                 NO                      552,000.00             20060601
GA                                           360      No                 NO                      943,050.00             20060601
GA                                           240      No                 NO                      144,350.00             20060701
GA                                           360      No                 NO                      964,800.00             20060801
NC                                           360      No                 NO                       51,900.00             20060801
FL                                           360      No                 NO                       94,250.00             20060701
GA                                           360      No                 NO                      115,100.00             20060801
GA                                           360      No                 NO                      124,950.00             20060701
GA                                           360      No                 NO                      550,000.00             20060801
GA                                           360      No                 NO                      108,000.00             20060701
NC                                           360      No                 NO                      244,800.00             20060701
GA                                           360      No                 NO                      568,000.00             20060701
GA                                           360      No                 NO                      639,900.00             20060701
NC                                           360      No                 NO                      199,900.00             20060601
GA                                           360      No                 NO                      503,500.00             20060701
GA                                           360      No                 NO                       60,000.00             20060701
NC                                           360      No                 NO                       56,200.00             20060701
GA                                           360      No                 NO                       93,600.00             20060701
GA                                           360      No                 NO                      471,900.00             20060801
GA                                           360      No                 NO                      160,000.00             20060701
NC                                           360      No                 NO                       85,500.00             20060701
FL                                           360      No                 NO                      154,050.00             20060801
FL                                           360      No                 NO                      426,400.00             20060701
NC                                           360      No                 NO                       54,500.00             20060701
GA                                           360      No                 NO                      582,550.00             20060701
GA                                           360      No                 NO                      112,000.00             20060701
GA                                           360      No                 NO                      580,000.00             20060801
FL                                           360      No                 NO                      466,450.00             20060701
FL                                           360      No                 NO                      168,000.00             20060801
NJ                                           360      No                 NO                      248,000.00             20060801
NY                                           360      No                 NO                      417,000.00             20060801
FL                                           360      No                 NO                      135,750.00             20060801
CA                                           360      No                 NO                      363,000.00             20060701
NJ                                           360      No                 NO                      405,600.00             20060701
FL                                           360      No                 NO                      110,000.00             20060801
MO                                           480      Yes                NO                      250,000.00             20060801
VA                                           360      No                 NO                      320,000.00             20060701
VA                                           480      Yes                NO                      179,400.00             20060701
OH                                           360      No                 NO                      125,000.00             20050801
IN                                           360      No                 NO                       98,000.00             20060601
IN                                           360      No                 NO                       98,000.00             20060701
OH                                           360      No                 NO                      340,000.00             20051201
OH                                           360      No                 NO                      191,700.00             20051201
IN                                           360      No                 NO                       90,800.00             20060701
OH                                           360      No                 NO                      130,000.00             20051101
IN                                           360      No                 NO                      108,185.00             20060601
MI                                           360      No                 NO                      564,000.00             20051101
IN                                           360      No                 NO                      108,185.00             20060601
IN                                           360      No                 NO                       90,800.00             20060701
IN                                           360      No                 NO                      108,185.00             20060701
IN                                           360      No                 NO                       90,800.00             20060701
OH                                           360      No                 NO                       63,000.00             20060501
UT                                           360      No                 NO                    1,331,250.00             20060701
UT                                           360      No                 NO                      142,000.00             20060701
MN                                           360      No                 NO                      107,030.00             20060701
MN                                           360      No                 NO                      121,800.00             20060701
TX                                           360      No                 NO                      231,200.00             20060701
TX                                           360      No                 NO                      107,999.00             20060701
CA                                           360      No                 NO                      231,400.00             20060501
TX                                           360      No                 NO                      130,000.00             20060801
TX                                           360      No                 NO                      101,970.00             20060801
TX                                           360      No                 NO                       99,375.00             20060801
TN                                           360      No                 NO                       94,500.00             20060701
TX                                           360      No                 NO                      166,400.00             20060701
TX                                           360      No                 NO                      101,300.00             20060801
TX                                           360      No                 NO                      169,600.00             20060801
TX                                           360      No                 NO                       67,200.00             20060801
CA                                           360      No                 NO                      208,150.00             20060501
TX                                           360      No                 NO                      100,000.00             20060701
TX                                           360      No                 NO                       62,400.00             20060801
TX                                           480      Yes                NO                      116,000.00             20060701
TX                                           360      No                 NO                      122,880.00             20060701
GA                                           360      No                 NO                      117,600.00             20060801
GA                                           360      No                 NO                      131,920.00             20060801
AZ                                           360      No                 NO                      112,000.00             20060701
AZ                                           360      No                 NO                      194,800.00             20060801
OR                                           360      No                 NO                      158,250.00             20060601
GA                                           480      Yes                NO                      565,000.00             20060801
GA                                           360      No                 NO                       71,400.00             20060701
AZ                                           360      No                 NO                      285,000.00             20060601
AZ                                           360      No                 NO                      150,320.00             20060701
WI                                           360      No                 NO                       53,000.00             20060701
TX                                           360      No                 NO                      132,980.00             20060801
TX                                           360      No                 NO                      101,104.00             20060801
TX                                           360      No                 NO                       86,900.00             20060801
TX                                           360      No                 NO                       85,100.00             20060601
ID                                           360      No                 NO                      135,960.00             20060801
GA                                           360      No                 NO                      188,000.00             20060801
GA                                           360      No                 NO                      391,200.00             20060801
WA                                           360      No                 NO                      115,200.00             20060801
TX                                           360      No                 NO                      133,800.00             20060701
WA                                           360      No                 NO                       95,024.00             20060801
CO                                           360      No                 NO                      780,000.00             20060701
IN                                           360      No                 NO                       74,400.00             20060701
GA                                           360      No                 NO                      104,000.00             20060701
MN                                           360      No                 NO                      348,000.00             20060801
MN                                           360      No                 NO                      100,000.00             20060701
TX                                           360      No                 NO                      212,000.00             20060701
FL                                           360      No                 NO                       55,000.00             20060801
TX                                           360      No                 NO                       50,400.00             20060801
TX                                           360      No                 NO                       68,800.00             20060701
TX                                           360      No                 NO                      114,381.00             20060701
TX                                           360      No                 NO                       90,160.00             20060701
TX                                           360      No                 NO                       37,600.00             20060701
TX                                           360      No                 NO                       73,880.00             20060801
TX                                           360      No                 NO                       87,780.00             20060701
NC                                           360      No                 NO                      146,400.00             20060601
TX                                           360      No                 NO                      203,200.00             20060701
NM                                           360      No                 NO                       96,000.00             20060601
NC                                           360      No                 NO                       67,500.00             20060701
TX                                           360      No                 NO                       55,000.00             20060701
TX                                           360      No                 NO                       80,000.00             20060701
TX                                           360      No                 NO                       51,200.00             20060701
TX                                           360      No                 NO                       56,032.00             20060701
VA                                           360      No                 NO                       62,010.00             20060701
FL                                           480      Yes                NO                      130,000.00             20060701
CO                                           360      No                 NO                      136,000.00             20060701
CO                                           360      No                 NO                      156,000.00             20060701
CO                                           480      Yes                NO                      231,600.00             20060701
CA                                           360      No                 NO                      605,000.00             20060601
MA                                           360      No                 NO                      329,600.00             20060601
VA                                           360      No                 NO                      272,000.00             20060601
FL                                           480      Yes                NO                      236,000.00             20060701
GA                                           360      No                 NO                      121,500.00             20060501
TX                                           360      No                 NO                       94,850.00             20060501
TX                                           360      No                 NO                       46,450.00             20060701
TX                                           360      No                 NO                       51,191.00             20060701
LA                                           360      No                 NO                       57,600.00             20060601
UT                                           360      No                 NO                      118,500.00             20060801
TX                                           360      No                 NO                       42,700.00             20060601
TX                                           360      No                 NO                       45,000.00             20060701
IL                                           360      No                 NO                       82,500.00             20060801
TX                                           360      No                 NO                       75,000.00             20060701
TX                                           360      No                 NO                       44,100.00             20060701
TX                                           360      No                 NO                       49,700.00             20060701
CO                                           360      No                 NO                      116,320.00             20060501
SC                                           360      No                 NO                       65,360.00             20060601
IL                                           360      No                 NO                      102,050.00             20060501
MD                                           360      No                 NO                      184,000.00             20060701
GA                                           360      No                 NO                      122,400.00             20060701
MD                                           360      No                 NO                      360,000.00             20060801
AL                                           360      No                 NO                       92,000.00             20060701
FL                                           360      No                 NO                      224,800.00             20060701
AL                                           360      No                 NO                      107,596.00             20060801
GA                                           360      No                 NO                      100,000.00             20060701
FL                                           360      No                 NO                      404,000.00             20060701
MS                                           360      No                 NO                      165,920.00             20060801
MD                                           360      No                 NO                       60,000.00             20060601
AL                                           360      No                 NO                      140,800.00             20060801
NC                                           360      No                 NO                       76,400.00             20060801
GA                                           360      No                 NO                      111,120.00             20060801
NC                                           360      No                 NO                      405,000.00             20060701
WI                                           360      No                 NO                      123,200.00             20060801
MI                                           360      No                 NO                      136,200.00             20060801
MA                                           360      No                 NO                      260,000.00             20060701
FL                                           360      No                 NO                      162,500.00             20060701
CA                                           360      No                 NO                      650,000.00             20060701
NV                                           360      No                 NO                      193,292.00             20060701
CA                                           360      No                 NO                      200,000.00             20060501
TX                                           360      No                 NO                      156,750.00             20060601
NV                                           360      No                 NO                       92,000.00             20060701
NV                                           360      No                 NO                      272,000.00             20060701
NV                                           360      No                 NO                      189,951.00             20060701
CO                                           360      No                 NO                      160,000.00             20060801
CT                                           360      No                 NO                      100,800.00             20060501
MA                                           360      No                 NO                      115,700.00             20060701
NJ                                           360      No                 NO                      113,750.00             20060801
CA                                           360      No                 NO                      464,000.00             20060701
CA                                           360      No                 NO                      660,000.00             20060701
CA                                           360      No                 NO                      399,750.00             20060601
OH                                           360      No                 NO                       52,000.00             20060601
TX                                           360      No                 NO                       87,466.00             20060701
HI                                           360      No                 NO                      925,300.00             20060701
AZ                                           360      No                 NO                      264,000.00             20060401
IL                                           360      No                 NO                      292,000.00             20060601
OH                                           360      No                 NO                       58,320.00             20060601
AZ                                           360      No                 NO                      467,944.00             20060701
FL                                           360      No                 NO                      231,300.00             20060601
LA                                           360      No                 NO                       46,125.00             20060701
OH                                           360      No                 NO                       52,500.00             20060501
CA                                           360      No                 NO                       92,000.00             20060501
FL                                           360      No                 NO                      318,750.00             20060401
AZ                                           480      Yes                NO                      294,100.00             20060701
WI                                           360      No                 NO                       68,000.00             20060501
NV                                           480      Yes                NO                      416,000.00             20060701
WA                                           360      No                 NO                      183,950.00             20060701
TX                                           360      No                 NO                       74,250.00             20060801
OH                                           360      No                 NO                       68,000.00             20060601
NC                                           360      No                 NO                      140,000.00             20060701
LA                                           360      No                 NO                      156,000.00             20060401
TX                                           360      No                 NO                      131,800.00             20060601
TX                                           360      No                 NO                       97,600.00             20060701
AL                                           360      No                 NO                       84,800.00             20060601
NC                                           360      No                 NO                      166,496.00             20060701
TX                                           360      No                 NO                       97,600.00             20060701
AL                                           360      No                 NO                       50,320.00             20060701
NC                                           360      No                 NO                       90,720.00             20060701
AL                                           360      No                 NO                       64,000.00             20060701
TX                                           360      No                 NO                      343,200.00             20060701
AL                                           360      No                 NO                      106,400.00             20060701
TX                                           360      No                 NO                      103,200.00             20060701
TX                                           360      No                 NO                      168,000.00             20060701
TX                                           360      No                 NO                       94,000.00             20060701
OH                                           360      No                 NO                      188,639.00             20060701
MD                                           360      No                 NO                      620,000.00             20060801
VA                                           360      No                 NO                      459,050.00             20060701
OH                                           360      No                 NO                      168,032.00             20060801
OH                                           360      No                 NO                      227,350.00             20060801
OH                                           360      No                 NO                      234,232.00             20060601
VA                                           360      No                 NO                      980,000.00             20060801
VA                                           360      No                 NO                      347,300.00             20060801
NJ                                           360      No                 NO                      650,000.00             20060701
PA                                           360      No                 NO                      315,050.00             20060701
MD                                           360      No                 NO                      215,884.00             20060701
NJ                                           360      No                 NO                      297,250.00             20060701
MD                                           360      No                 NO                      448,984.00             20060701
MD                                           360      No                 NO                      576,982.00             20060701
OH                                           360      No                 NO                      214,632.00             20060701
FL                                           360      No                 NO                      234,000.00             20060401
GA                                           360      No                 NO                      204,000.00             20060801
CA                                           480      Yes                NO                      184,000.00             20060701
CA                                           480      Yes                NO                      230,000.00             20060701
MA                                           360      No                 NO                      344,000.00             20060801
FL                                           360      No                 NO                      107,000.00             20060801
AZ                                           360      No                 NO                      126,400.00             20060801
AZ                                           360      No                 NO                      200,000.00             20060701
GA                                           360      No                 NO                      171,600.00             20060701
GA                                           360      No                 NO                      170,392.00             20060701
GA                                           360      No                 NO                      112,800.00             20060701
GA                                           360      No                 NO                      268,000.00             20060701
GA                                           360      No                 NO                       98,036.00             20060601
GA                                           360      No                 NO                      144,350.00             20060601
GA                                           360      No                 NO                      185,600.00             20060601
NC                                           360      No                 NO                      190,557.00             20060601
GA                                           360      No                 NO                      192,000.00             20060701
GA                                           360      No                 NO                      130,560.00             20060601
GA                                           360      No                 NO                      101,328.00             20060501
GA                                           360      No                 NO                      168,690.00             20060701
GA                                           360      No                 NO                       43,796.00             20060701
GA                                           360      No                 NO                      104,640.00             20060501
GA                                           360      No                 NO                      161,008.00             20060701
SC                                           360      No                 NO                      145,272.00             20060601
GA                                           360      No                 NO                      176,455.00             20060701
GA                                           360      No                 NO                      159,832.00             20060601
GA                                           360      No                 NO                      108,720.00             20060601
GA                                           360      No                 NO                      121,600.00             20060601
GA                                           360      No                 NO                      116,000.00             20060601
GA                                           360      No                 NO                      160,232.00             20060701
GA                                           360      No                 NO                      134,360.00             20060601
GA                                           360      No                 NO                      214,390.00             20060601
GA                                           360      No                 NO                      107,480.00             20060701
GA                                           360      No                 NO                      178,545.00             20060701
GA                                           360      No                 NO                      108,160.00             20060601
GA                                           360      No                 NO                       93,199.00             20060501
GA                                           360      No                 NO                       81,600.00             20060701
GA                                           360      No                 NO                      102,560.00             20060701
GA                                           360      No                 NO                      145,750.00             20060601
GA                                           360      No                 NO                      167,992.00             20060601
GA                                           360      No                 NO                      102,844.00             20060501
GA                                           360      No                 NO                      114,680.00             20060601
GA                                           360      No                 NO                      127,760.00             20060601
GA                                           360      No                 NO                      211,840.00             20060701
GA                                           360      No                 NO                      150,732.00             20060701
GA                                           360      No                 NO                      137,600.00             20060701
GA                                           360      No                 NO                      140,800.00             20060801
GA                                           360      No                 NO                      116,080.00             20060701
GA                                           360      No                 NO                      120,720.00             20060701
GA                                           360      No                 NO                      138,100.00             20060601
GA                                           360      No                 NO                      186,140.00             20060801
GA                                           360      No                 NO                      172,200.00             20060601
GA                                           360      No                 NO                       95,412.00             20060501
GA                                           360      No                 NO                       80,800.00             20060701
FL                                           360      No                 NO                      195,990.00             20060701
GA                                           360      No                 NO                       44,400.00             20060701
WY                                           360      No                 NO                      256,000.00             20060701
CO                                           360      No                 NO                      120,000.00             20060801
CO                                           360      No                 NO                      860,000.00             20060701
AR                                           360      No                 NO                      183,200.00             20060401
CA                                           360      No                 NO                      354,250.00             20060701
CA                                           360      No                 NO                      175,000.00             20060701
CA                                           360      No                 NO                      242,500.00             20060701
CA                                           360      No                 NO                      177,000.00             20060401
FL                                           360      No                 NO                      236,250.00             20060701
CA                                           360      No                 NO                      999,000.00             20060401
FL                                           360      No                 NO                       78,000.00             20060701
TX                                           360      No                 NO                      150,400.00             20060701
CO                                           360      No                 NO                      214,000.00             20060701
NY                                           360      No                 NO                      320,000.00             20060501
TX                                           360      No                 NO                      131,200.00             20060701
IN                                           360      No                 NO                       84,000.00             20060801
TX                                           360      No                 NO                      135,126.00             20060701
TX                                           360      No                 NO                      110,856.00             20060701
IN                                           360      No                 NO                      106,575.00             20060601
TX                                           360      No                 NO                       77,200.00             20060601
IA                                           360      No                 NO                       74,640.00             20060601
TX                                           360      No                 NO                      157,701.00             20060701
MS                                           360      No                 NO                      104,230.00             20060701
TX                                           360      No                 NO                      114,000.00             20060801
IN                                           360      No                 NO                       81,600.00             20060801
GA                                           360      No                 NO                      170,000.00             20060801
GA                                           360      No                 NO                      152,000.00             20060801
FL                                           360      No                 NO                      169,000.00             20060701
GA                                           360      No                 NO                      139,120.00             20060601
GA                                           360      No                 NO                      101,352.00             20060701
GA                                           360      No                 NO                       55,000.00             20060701
GA                                           360      No                 NO                      124,800.00             20060601
AL                                           360      No                 NO                       50,250.00             20060701
GA                                           360      No                 NO                      169,600.00             20060701
GA                                           360      No                 NO                      205,600.00             20060801
SC                                           360      No                 NO                      120,000.00             20060601
TN                                           360      No                 NO                      306,400.00             20060701
GA                                           360      No                 NO                      350,000.00             20060701
GA                                           360      No                 NO                      209,600.00             20060701
GA                                           360      No                 NO                       84,000.00             20060701
GA                                           360      No                 NO                      111,116.00             20060601
AL                                           360      No                 NO                      110,960.00             20060801
FL                                           360      No                 NO                      130,000.00             20060701
GA                                           360      No                 NO                      619,000.00             20060801
SC                                           360      No                 NO                       63,750.00             20060701
GA                                           360      No                 NO                       58,800.00             20060601
GA                                           360      No                 NO                      142,895.00             20060701
TN                                           360      No                 NO                      164,800.00             20060801
NC                                           360      No                 NO                      124,000.00             20060701
GA                                           360      No                 NO                       90,000.00             20060601
GA                                           360      No                 NO                      405,000.00             20060801
GA                                           360      No                 NO                      208,000.00             20060701
GA                                           360      No                 NO                      792,000.00             20060701
NC                                           360      No                 NO                      540,000.00             20060701
MI                                           360      No                 NO                       54,400.00             20060601
TX                                           360      No                 NO                       68,000.00             20060801
KS                                           360      No                 NO                      115,500.00             20060501
OR                                           360      No                 NO                      324,000.00             20060701
MO                                           360      No                 NO                      114,000.00             20060601
FL                                           360      No                 NO                      144,100.00             20060601
TX                                           360      No                 NO                      195,450.00             20060801
TX                                           360      No                 NO                      176,000.00             20060701
TX                                           360      No                 NO                       72,400.00             20060801
TX                                           360      No                 NO                      133,900.00             20060601
IL                                           360      No                 NO                       70,000.00             20060401
TX                                           360      No                 NO                      141,300.00             20060601
UT                                           360      No                 NO                      140,700.00             20060801
WA                                           360      No                 NO                      220,000.00             20060701
MS                                           360      No                 NO                       46,400.00             20060801
TN                                           360      No                 NO                       51,050.00             20060701
TX                                           360      No                 NO                      193,500.00             20060601
TX                                           360      No                 NO                       70,000.00             20060701
TX                                           360      No                 NO                       74,000.00             20060701
TX                                           360      No                 NO                       47,200.00             20060701
TX                                           360      No                 NO                       90,500.00             20060801
MO                                           360      No                 NO                      134,400.00             20060701
TX                                           360      No                 NO                       61,500.00             20060701
TX                                           360      No                 NO                      133,600.00             20060701
TX                                           360      No                 NO                      288,000.00             20060701
CA                                           360      No                 NO                      536,000.00             20060701
CA                                           360      No                 NO                      332,000.00             20060501
IL                                           360      No                 NO                      220,000.00             20060801
IL                                           360      No                 NO                       81,130.00             20060801
FL                                           360      No                 NO                      138,285.00             20060801
NV                                           360      No                 NO                      344,213.00             20060801
AZ                                           360      No                 NO                      310,912.00             20060701
NV                                           360      No                 NO                      258,352.00             20060801
NV                                           360      No                 NO                      225,438.00             20060801
FL                                           360      No                 NO                      171,572.00             20060701
NC                                           360      No                 NO                      219,292.00             20060801
IL                                           360      No                 NO                      255,620.00             20060801
TX                                           360      No                 NO                      163,192.00             20060601
CO                                           360      No                 NO                      123,484.00             20060701
FL                                           360      No                 NO                      285,188.00             20060801
AZ                                           360      No                 NO                      306,574.00             20060301
NV                                           360      No                 NO                      226,292.00             20060701
FL                                           360      No                 NO                      200,292.00             20060801
AZ                                           360      No                 NO                      317,479.00             20060801
TX                                           360      No                 NO                      104,388.00             20060701
FL                                           360      No                 NO                      346,044.00             20060601
IL                                           360      No                 NO                      364,952.00             20060801
MI                                           360      No                 NO                      177,512.00             20060701
VA                                           360      No                 NO                      720,000.00             20060701
IL                                           360      No                 NO                      281,540.00             20060801
FL                                           360      No                 NO                      192,345.00             20060701
CA                                           360      No                 NO                      292,968.00             20060801
FL                                           360      No                 NO                      202,856.00             20060801
NV                                           360      No                 NO                      195,360.00             20060701
FL                                           360      No                 NO                      137,789.00             20060801
NM                                           360      No                 NO                      267,872.00             20060701
PA                                           360      No                 NO                      180,850.00             20060801
UT                                           360      No                 NO                      265,600.00             20060701
CO                                           360      No                 NO                       59,500.00             20060701
CO                                           360      No                 NO                      354,000.00             20060701
UT                                           360      No                 NO                      212,000.00             20060701
CO                                           360      No                 NO                       79,000.00             20060701
UT                                           360      No                 NO                      146,200.00             20060701
CO                                           360      No                 NO                      228,000.00             20060801
UT                                           360      No                 NO                      240,000.00             20060801
TX                                           360      No                 NO                       92,000.00             20060801
UT                                           360      No                 NO                      200,000.00             20060701
UT                                           360      No                 NO                      214,720.00             20060701
CO                                           360      No                 NO                       70,800.00             20060701
UT                                           360      No                 NO                      122,400.00             20060701
CO                                           360      No                 NO                      160,000.00             20060701
CO                                           360      No                 NO                       67,500.00             20060801
UT                                           360      No                 NO                      223,250.00             20060801
UT                                           360      No                 NO                      239,200.00             20060801
NV                                           360      No                 NO                      386,082.00             20060701
NV                                           360      No                 NO                      188,000.00             20060801
NV                                           360      No                 NO                      239,920.00             20060801
NV                                           360      No                 NO                      168,000.00             20060701
NV                                           360      No                 NO                      201,600.00             20060801
NV                                           360      No                 NO                      204,000.00             20060701
MA                                           360      No                 NO                      620,000.00             20060801
IL                                           360      No                 NO                      144,800.00             20060701
CA                                           360      No                 NO                      651,200.00             20060701
MA                                           360      No                 NO                      347,200.00             20060701
CA                                           360      No                 NO                      552,500.00             20060501
CO                                           360      No                 NO                      111,800.00             20060801
MI                                           360      No                 NO                       71,900.00             20060601
MA                                           360      No                 NO                      200,000.00             20060701
MA                                           360      No                 NO                      211,000.00             20060801
VA                                           360      No                 NO                       71,000.00             20060701
CA                                           360      No                 NO                      252,000.00             20060801
ME                                           360      No                 NO                      192,000.00             20060701
ME                                           360      No                 NO                      176,650.00             20060701
NH                                           360      No                 NO                      207,920.00             20060701
AZ                                           360      No                 NO                      180,000.00             20060601
MO                                           360      No                 NO                       72,400.00             20060701
OK                                           360      No                 NO                       93,120.00             20060701
OH                                           360      No                 NO                       92,250.00             20060601
OK                                           360      No                 NO                       50,400.00             20060701
OK                                           360      No                 NO                       51,200.00             20060701
OH                                           360      No                 NO                      117,600.00             20060701
OK                                           360      No                 NO                       51,200.00             20060601
AZ                                           360      No                 NO                       97,500.00             20060701
AZ                                           360      No                 NO                      162,750.00             20060701
FL                                           360      No                 NO                       78,018.00             20060701
OK                                           360      No                 NO                       52,350.00             20060701
TX                                           360      No                 NO                       68,000.00             20060701
OK                                           360      No                 NO                       52,000.00             20060601
OK                                           360      No                 NO                       50,400.00             20060601
MI                                           360      No                 NO                      143,920.00             20060701
TX                                           360      No                 NO                       74,250.00             20060701
TX                                           360      No                 NO                       76,000.00             20060601
TX                                           360      No                 NO                       72,000.00             20060701
TX                                           360      No                 NO                       54,400.00             20060601
TX                                           360      No                 NO                       93,964.00             20060601
TX                                           360      No                 NO                       88,800.00             20060601
AR                                           360      No                 NO                       88,000.00             20060701
TX                                           360      No                 NO                       55,200.00             20060601
TX                                           360      No                 NO                       50,400.00             20060601
FL                                           360      No                 NO                       94,500.00             20060601
TX                                           360      No                 NO                       93,964.00             20060601
TX                                           360      No                 NO                      119,900.00             20060701
UT                                           360      No                 NO                      288,000.00             20060501
TX                                           360      No                 NO                       84,000.00             20060701
FL                                           360      No                 NO                      197,600.00             20060701
UT                                           360      No                 NO                       44,000.00             20060801
FL                                           360      No                 NO                      103,000.00             20060801
TX                                           360      No                 NO                       56,000.00             20060601
FL                                           360      No                 NO                      216,000.00             20060701
TX                                           360      No                 NO                      121,540.00             20060701
FL                                           480      Yes                NO                      176,500.00             20060701
UT                                           360      No                 NO                       97,200.00             20060701
TX                                           360      No                 NO                      128,800.00             20060701
FL                                           360      No                 NO                      112,500.00             20060701
FL                                           360      No                 NO                      175,000.00             20060801
UT                                           360      No                 NO                       82,400.00             20060601
CO                                           360      No                 NO                      190,320.00             20060801
TX                                           360      No                 NO                      372,000.00             20060801
ID                                           360      No                 NO                      108,800.00             20060701
CO                                           360      No                 NO                      212,800.00             20060801
UT                                           360      No                 NO                      124,800.00             20060701
FL                                           360      No                 NO                      264,000.00             20060701
UT                                           360      No                 NO                      139,920.00             20060601
TX                                           360      No                 NO                      168,800.00             20060701
UT                                           360      No                 NO                      104,000.00             20060701
TX                                           360      No                 NO                       81,200.00             20060701
CA                                           360      No                 NO                      412,500.00             20060701
TX                                           360      No                 NO                       92,000.00             20060601
OR                                           360      No                 NO                      105,000.00             20060801
UT                                           360      No                 NO                      146,400.00             20060801
FL                                           360      No                 NO                      119,000.00             20060701
FL                                           360      No                 NO                      120,800.00             20060601
FL                                           360      No                 NO                       65,100.00             20060601
TX                                           360      No                 NO                      337,250.00             20060601
CO                                           480      Yes                NO                      216,000.00             20060801
CO                                           360      No                 NO                      155,600.00             20060701
TX                                           360      No                 NO                      140,586.00             20060701
CO                                           360      No                 NO                      160,800.00             20060601
FL                                           480      Yes                NO                       83,650.00             20060701
CA                                           360      No                 NO                      327,200.00             20060701
TX                                           360      No                 NO                      135,536.00             20060701
FL                                           360      No                 NO                      124,000.00             20060701
UT                                           480      Yes                NO                      315,200.00             20060701
TX                                           360      No                 NO                      292,800.00             20060701
UT                                           480      Yes                NO                      285,000.00             20060701
WA                                           360      No                 NO                      204,800.00             20060701
UT                                           360      No                 NO                      130,400.00             20060801
TX                                           360      No                 NO                      103,000.00             20060501
CA                                           360      No                 NO                    1,422,300.00             20060701
FL                                           360      No                 NO                       54,400.00             20060701
TX                                           360      No                 NO                       99,750.00             20060701
CO                                           360      No                 NO                      280,000.00             20060701
TX                                           360      No                 NO                      116,925.00             20060701
CA                                           360      No                 NO                      630,000.00             20060601
FL                                           360      No                 NO                      150,500.00             20060801
CA                                           360      No                 NO                      309,636.00             20060801
NC                                           360      No                 NO                      210,850.00             20060701
TX                                           360      No                 NO                      177,600.00             20060801
MI                                           360      No                 NO                       76,800.00             20060701
IL                                           360      No                 NO                      333,750.00             20060501
MI                                           360      No                 NO                      160,000.00             20060301
OH                                           360      No                 NO                      108,000.00             20060701
MI                                           360      No                 NO                       72,000.00             20060201
NV                                           360      No                 NO                      186,000.00             20060501
OH                                           360      No                 NO                      145,600.00             20060701
CA                                           360      No                 NO                      302,250.00             20060701
CA                                           360      No                 NO                      312,000.00             20060601
VA                                           360      No                 NO                      232,000.00             20060601
MD                                           360      No                 NO                      430,000.00             20060701
MD                                           360      No                 NO                       61,500.00             20060701
VA                                           360      No                 NO                      128,590.00             20060801
VA                                           360      No                 NO                       86,150.00             20060601
GA                                           360      No                 NO                      539,000.00             20060801
VA                                           360      No                 NO                      350,000.00             20060701
CT                                           360      No                 NO                      207,200.00             20060301
GA                                           360      No                 NO                       84,300.00             20060501
ME                                           360      No                 NO                       61,600.00             20060801
GA                                           360      No                 NO                      216,000.00             20060401
GA                                           360      No                 NO                       89,950.00             20060701
MI                                           480      Yes                NO                      133,650.00             20060701
NV                                           360      No                 NO                      318,140.00             20060701
NV                                           480      Yes                NO                      279,500.00             20060701
NV                                           360      No                 NO                      240,000.00             20060701
ID                                           360      No                 NO                      224,000.00             20060701
AZ                                           360      No                 NO                      148,000.00             20060701
MI                                           360      No                 NO                       64,125.00             20060701
MI                                           360      No                 NO                       82,500.00             20060801
TX                                           360      No                 NO                      131,200.00             20060801
TX                                           360      No                 NO                      131,200.00             20060801
NE                                           360      No                 NO                       73,500.00             20060801
CA                                           360      No                 NO                      248,500.00             20060801
AZ                                           360      No                 NO                      165,600.00             20060701
AZ                                           360      No                 NO                      168,000.00             20060701
AZ                                           360      No                 NO                      152,000.00             20060701
AZ                                           360      No                 NO                      240,691.00             20060801
AZ                                           360      No                 NO                      228,000.00             20060201
AZ                                           360      No                 NO                      260,924.00             20060701
AZ                                           360      No                 NO                      126,400.00             20060701
IL                                           360      No                 NO                      151,200.00             20060601
NC                                           360      No                 NO                      105,200.00             20060801
TN                                           360      No                 NO                      142,080.00             20060601
TX                                           360      No                 NO                       56,260.00             20060701
TX                                           360      No                 NO                      101,440.00             20060701
TX                                           360      No                 NO                      188,000.00             20060701
TX                                           360      No                 NO                       56,700.00             20060701
TX                                           360      No                 NO                       72,000.00             20060401
OH                                           360      No                 NO                       71,200.00             20060701
SC                                           360      No                 NO                       68,000.00             20060701
GA                                           360      No                 NO                      274,400.00             20060701
GA                                           360      No                 NO                      115,991.00             20060701
GA                                           360      No                 NO                      108,720.00             20060801
GA                                           360      No                 NO                      575,000.00             20060801
MI                                           360      No                 NO                       59,200.00             20060601
MI                                           360      No                 NO                       51,200.00             20060701
MI                                           360      No                 NO                       65,600.00             20060501
GA                                           360      No                 NO                      116,800.00             20060701
MI                                           360      No                 NO                       97,700.00             20060701
MI                                           360      No                 NO                       57,600.00             20060701
MN                                           360      No                 NO                      131,750.00             20060701
CA                                           360      No                 NO                      417,000.00             20060701
WA                                           360      No                 NO                      192,800.00             20060701
CA                                           360      No                 NO                      216,000.00             20060401
PA                                           360      No                 NO                      135,900.00             20060701
DE                                           360      No                 NO                       68,400.00             20060701
PA                                           360      No                 NO                      239,200.00             20060701
NJ                                           360      No                 NO                      136,000.00             20060701
PA                                           360      No                 NO                      219,600.00             20060801
PA                                           360      No                 NO                      123,500.00             20060501
NJ                                           360      No                 NO                      103,632.00             20060701
NJ                                           360      No                 NO                      124,800.00             20060701
NJ                                           360      No                 NO                      166,080.00             20060701
PA                                           360      No                 NO                      348,000.00             20060601
NJ                                           360      No                 NO                      191,760.00             20060601
PA                                           360      No                 NO                      156,950.00             20060701
PA                                           360      No                 NO                      456,000.00             20060801
NJ                                           360      No                 NO                      251,200.00             20060701
NJ                                           360      No                 NO                       96,800.00             20060701
PA                                           360      No                 NO                      163,152.00             20060701
PA                                           360      No                 NO                      278,400.00             20060801
DE                                           360      No                 NO                      108,000.00             20060701
NJ                                           360      No                 NO                      164,000.00             20060701
DE                                           360      No                 NO                      220,000.00             20060701
PA                                           360      No                 NO                      128,000.00             20060701
IN                                           360      No                 NO                       76,000.00             20060701
FL                                           360      No                 NO                       99,899.00             20060701
CO                                           360      No                 NO                      108,356.00             20060701
WI                                           360      No                 NO                      109,900.00             20060701
WI                                           360      No                 NO                       52,425.00             20060701
WI                                           360      No                 NO                      105,625.00             20060701
MN                                           360      No                 NO                       52,800.00             20060601
WI                                           360      No                 NO                       87,750.00             20060701
MN                                           360      No                 NO                      107,900.00             20060801
IA                                           360      No                 NO                       73,800.00             20060801
VA                                           360      No                 NO                      260,000.00             20060801
MD                                           360      No                 NO                      152,000.00             20060801
GA                                           360      No                 NO                      155,500.00             20060801
IL                                           360      No                 NO                      112,000.00             20060801
VA                                           360      No                 NO                       70,104.00             20060701
FL                                           360      No                 NO                      139,500.00             20060801
VA                                           360      No                 NO                       50,050.00             20060801
NJ                                           360      No                 NO                      975,000.00             20060701
NJ                                           360      No                 NO                      992,000.00             20060701
NJ                                           360      No                 NO                      958,750.00             20060801
TX                                           360      No                 NO                       87,108.00             20060701
MI                                           360      No                 NO                      113,520.00             20060601
CA                                           480      Yes                NO                      360,000.00             20060701
CA                                           360      No                 NO                      184,000.00             20060701
CO                                           480      Yes                NO                      115,000.00             20060601
MA                                           360      No                 NO                      296,000.00             20060801
TX                                           360      No                 NO                       79,920.00             20060701
MA                                           360      No                 NO                      150,000.00             20060801
TX                                           360      No                 NO                       85,600.00             20060801
VA                                           360      No                 NO                      332,000.00             20060701
NH                                           360      No                 NO                       90,000.00             20060701
MA                                           360      No                 NO                      160,000.00             20060701
RI                                           360      No                 NO                      255,200.00             20060601
IL                                           360      No                 NO                      196,000.00             20060801
AZ                                           360      No                 NO                      314,400.00             20060701
WA                                           360      No                 NO                      336,800.00             20060801
MA                                           360      No                 NO                      130,000.00             20060801
MO                                           360      No                 NO                       61,200.00             20060701
WI                                           360      No                 NO                       90,930.00             20060701
GA                                           360      No                 NO                       95,900.00             20060701
MO                                           360      No                 NO                      116,200.00             20060801
MO                                           360      No                 NO                      116,200.00             20060801
MI                                           360      No                 NO                       58,496.00             20060601
WI                                           360      No                 NO                       94,850.00             20060701
OH                                           360      No                 NO                       77,000.00             20060701
FL                                           360      No                 NO                       90,000.00             20060601
WI                                           360      No                 NO                       74,130.00             20060701
MO                                           360      No                 NO                      114,400.00             20060701
AZ                                           360      No                 NO                      157,500.00             20060701
NH                                           360      No                 NO                      104,650.00             20060701
WI                                           360      No                 NO                       58,100.00             20060701
MO                                           360      No                 NO                      115,500.00             20060801
AZ                                           360      No                 NO                      149,500.00             20060701
AZ                                           360      No                 NO                      320,000.00             20060701
VA                                           360      No                 NO                      228,000.00             20060601
VA                                           360      No                 NO                       70,200.00             20060501
TX                                           360      No                 NO                      215,200.00             20060701
TX                                           360      No                 NO                       77,300.00             20060701
TX                                           360      No                 NO                      124,720.00             20060701
TX                                           360      No                 NO                       84,720.00             20060801
CO                                           360      No                 NO                      117,443.00             20060801
TX                                           360      No                 NO                       92,800.00             20060801
TX                                           360      No                 NO                      111,686.00             20060701
TX                                           360      No                 NO                      199,000.00             20060701
TX                                           360      No                 NO                      144,800.00             20060701
TX                                           360      No                 NO                      229,520.00             20060701
TX                                           360      No                 NO                       55,900.00             20060601
TX                                           360      No                 NO                      129,600.00             20060701
TX                                           360      No                 NO                       50,250.00             20060701
TX                                           360      No                 NO                      100,800.00             20060801
TX                                           360      No                 NO                      113,625.00             20060801

STATE            PAYMENT             CURRENT_              ORIGINAL           MI                              MERS
                                     BALANCE               _LTV
-----------------------------------------------------------------------------------------------------------------------------------------
VA                     1,404.17            195,861.66              79.35      No MI                           100218000000184453
VA                     2,349.50            375,920.00              80.00      No MI                           100218000000184420
MD                     1,357.55            224,908.08              61.31      No MI                           100218000000184271
DC                     3,319.17            568,999.17              56.90      No MI                           100218000000183943
MD                     1,392.40            226,560.00              80.00      No MI                           100218000000184479
GA                     1,440.00            256,000.00              80.00      No MI                           100218000000182788
VA                     1,957.08            308,000.00              80.00      No MI                           100218000000182879
VA                     1,991.25            324,000.00              80.00      No MI                           100218000000184776
MD                     1,253.75            204,000.00              80.00      No MI                           100218000000184677
VA                     2,237.08            364,000.00              80.00      No MI                           100218000000185633
PA                       729.35            105,519.65              80.00      No MI                                                    0
GA                     1,519.49            219,832.59              80.00      No MI                           100218000000183448
PA                     2,523.24            347,760.51              80.00      No MI                           100218000000184180
MD                     2,023.34            308,000.00              80.00      No MI                           100218000000186102
MD                     2,713.33            473,600.00              80.00      No MI                           100218000000185229
VA                     3,727.50            568,000.00              80.00      No MI                           100218000000184073
GA                       773.57            115,920.00              80.00      No MI                           100218000000186169
VA                     3,526.10            529,128.59              59.92      No MI                           100212504000272339
MD                     3,885.79            548,602.65              79.57      No MI                           100212504000290091
MD                       759.74            109,916.30              61.45      No MI                           100212504000285687
MD                     1,454.83            240,800.00              80.00      No MI                           100212504000280076
DE                     1,126.25            180,200.00              79.98      No MI                           100212504000280308
DE                       579.85             85,000.00              69.11      No MI                           100212504000292907
MD                     1,231.92            173,924.03              79.99      No MI                           100212504000241409
DE                       367.09             52,500.00              75.00      No MI                           100212504000292881
MD                       917.34            154,500.00              75.00      No MI                           100212504000282718
MD                     1,957.50            347,999.89              80.00      No MI                           100212504000237050
MD                       368.05             51,962.37              80.00      No MI                           100212504000281637
UT                     1,313.38            187,836.00              70.00      No MI                                                    0
ID                     3,579.28            511,900.00              80.00      No MI                                                    0
NY                     2,190.23            333,750.00              75.00      No MI                           100038600000118993
NY                     2,378.49            331,765.68              80.00      No MI                           100038600000119322
NY                     2,554.76            384,000.00              80.00      No MI                           100038600000120734
NY                     2,460.94            337,500.00              75.00      No MI                           100038600000119504
MS                     1,334.30            188,516.00              75.00      No MI                           100038603000045489
NY                     3,484.89            498,030.11              80.00      No MI                           100038600000118969
FL                     1,037.00            163,200.00              75.91      No MI                           100038600000120072
NY                     3,130.14            452,855.15              80.00      No MI                           100038600000119140
NY                     8,768.23          1,202,500.00              65.00      No MI                           100038600000120205
NJ                     2,421.87            375,000.00              75.00      No MI                           100038603000044706
NY                     2,864.32            360,000.00              90.00      Radian Guaranty                 100038600000120304
NY                     3,655.00            516,000.00              80.00      No MI                           100038600000120197
NY                     2,072.80            307,418.96              75.00      No MI                           100003860000120155
NJ                     1,828.23            267,790.94              67.85      No MI                           100038603000045034
NY                     2,031.25            325,000.00              67.71      No MI                           100038600000118621
GA                       649.09             86,344.91              79.63      No MI                           100038600000120130
NY                     2,295.00            344,250.00              75.00      No MI                           100038600000118829
NY                     2,478.11            314,818.76              75.00      No MI                           100038600000119983
NY                     1,500.79            220,000.00              66.67      No MI                                                    0
NY                     3,087.50            520,000.00              80.00      No MI                           100038600000119900
NY                     1,525.78            232,500.00              75.00      No MI                           100038600000119967
NJ                     1,540.37            193,491.46              80.00      No MI                           100038600000119611
MD                     7,050.89          1,091,750.00              80.00      No MI                           100090704306050705
FL                     1,520.00            228,000.00              80.00      No MI                           100246606051100010
NJ                     2,467.25            333,600.00              80.00      No MI                           100246606041100005
NJ                     1,827.15            261,800.00              70.00      No MI                           100321706042400012
FL                       902.24            115,931.51              80.00      No MI                           100246606042500062
FL                     1,155.00            168,000.00              70.00      No MI                           100246606050900105
NC                       466.05             59,920.00              80.00      No MI                           100246606060600034
PA                       518.77             70,652.56              65.46      No MI                           100246606050200001
PA                       912.09            119,850.30              80.00      No MI                           100246606041200003
NJ                     1,123.28            165,900.00              70.00      No MI                           100246606051100036
NJ                     2,064.25            287,200.00              80.00      No MI                           100246606040700086
NJ                     1,659.53            206,137.35              75.00      No MI                                                    0
NJ                     2,310.43            322,272.38              75.00      No MI                           100246606050100144
NJ                     1,919.66            259,560.00              70.00      No MI                           100246606050200084
NJ                     1,124.68            158,785.00              70.00      No MI                           100261206050800031
PA                       924.54            125,915.46              63.00      No MI                                                    0
PA                       410.91             56,000.00              70.00      No MI                           100246606051500052
FL                       863.53            123,408.35              65.00      No MI                           100246606050800024
NJ                       697.81            101,500.00              70.00      No MI                           100246606051200166
NJ                     2,987.44            416,705.68              78.68      No MI                           100295206041800058
FL                       676.67            101,500.00              70.00      No MI                           100246606051200000
NC                       380.66             52,500.00              70.00      No MI                           100246606060700016
NJ                     1,152.00            153,600.00              80.00      No MI                           100246606041200029
NJ                     1,378.13            210,000.00              38.89      No MI                           100246606042100087
NJ                       738.16             95,941.84              80.00      No MI                           100246606041700028
FL                       497.66             68,250.00              70.00      No MI                           100246606050300009
GA                       839.06            119,821.32              80.00      No MI                           100075120040112330
NC                       562.84             73,155.66              80.00      No MI                           100075120040118824
GA                     1,208.13            176,542.35              70.00      No MI                           100075120040110193
GA                       797.83            119,623.38              80.00      No MI                           100075120040112132
GA                       892.50            118,647.98              79.20      No MI                           100075120040115168
SC                       908.36            150,350.00              79.98      No MI                           100075120040112454
GA                       422.47             63,447.95              64.80      No MI                           100075120040117503
GA                       741.89            106,300.00              69.98      No MI                           100075120040116869
GA                     3,490.83            568,000.00              80.00      No MI                           100075120040119202
TX                       523.50             72,100.30              79.96      No MI                           100098500040238552
TX                     1,202.10            161,900.00              79.99      No MI                           100098500040247447
OK                       650.62             85,600.00              80.00      No MI                           100098500040250300
TX                       811.13            123,600.00              75.00      No MI                           100098500040234882
TX                       811.13            123,600.00              75.00      No MI                           100098500040234775
TX                       891.50            127,405.38              75.00      No MI                           100098500040240053
TX                       621.09             87,750.00              77.83      No MI                           100098500040253452
TX                       716.41             99,929.42              80.00      No MI                           100098500040242026
TX                       628.45             80,752.30              80.00      No MI                           100098500040241697
TX                     2,832.12            360,000.00              80.00      No MI                           100098500040242488
TX                       381.91             47,973.09              80.00      No MI                           100098500040244790
WA                     1,421.14            196,000.00              80.00      No MI                           100098500040245557
OH                       808.90            103,938.60              80.00      No MI                           100098500040235764
TX                       573.13             79,943.54              80.00      No MI                           100098500040245680
FL                     1,876.12            257,847.88              75.00      No MI                           100098500040209264
TX                       615.13             80,000.00              78.43      No MI                           100098500040244022
TX                     1,455.55            188,953.52              79.99      No MI                           100098500040231482
TX                       564.11             70,900.00              78.87      No MI                           100098500040249245
TX                       393.75             54,000.00              75.00      No MI                           100098500040227548
OR                     1,543.75            260,000.00              65.00      No MI                           100098500040247579
TX                     1,109.36            152,894.70              84.07      GE Capital MI                   100098500040243198
OK                       538.13             70,800.00              80.00      No MI                           100098500040250284
TX                       621.28             80,751.05              80.00      No MI                           100098500040247470
TX                       380.95             58,050.00              66.34      No MI                           100098500040225492
TX                       842.73            109,600.00              80.00      No MI                           100098500040244048
TX                       427.75             70,800.00              80.00      No MI                           100098500040236556
NM                       552.08             78,000.00              65.00      No MI                           100098500040247199
FL                     1,737.98            215,882.02              80.00      No MI                           100361200000602182
FL                       874.42            111,021.63              79.97      No MI                           100361200000601952
PA                       452.99             63,906.67              80.00      No MI                           100157901000900140
NJ                     3,437.19            431,268.04              80.00      No MI                                                    0
NJ                     1,337.73            175,890.60              80.00      No MI                                                    0
NJ                     1,929.25            256,305.36              80.00      No MI                           100022100138085972
NJ                     1,562.63            207,733.83              80.00      No MI                           100022100155419641
FL                       663.20             94,779.61              70.00      No MI                           100022100153277371
CO                     1,425.59            191,874.41              80.00      No MI                           100328400300602104
FL                     1,471.98            227,920.00              80.00      No MI                           100328400000605498
CO                     1,068.20            183,120.00              80.00      No MI                           100328400000605092
CO                     1,211.25            204,000.00              80.00      No MI                           100328400000603279
FL                     1,174.69            167,749.85              76.36      No MI                           100022100154062913
TN                     1,171.39            169,341.10              80.00      No MI                           100390930400064410
FL                     3,438.17            503,606.83              80.00      No MI                           100022100154061196
TN                       352.25             50,922.14              75.00      No MI                           100390930400102111
FL                     1,159.35            157,787.27              79.80      No MI                           100022100154061279
FL                     2,475.94            417,000.00              61.05      No MI                           100022100152270021
TN                       352.25             50,922.14              75.00      No MI                           100390930400103770
FL                     3,334.57            506,744.66              90.00      Republic MIC                    100022100154063663
AL                     3,272.65            515,040.00              80.00      No MI                           100390930400009233
TN                       352.25             50,922.14              75.00      No MI                           100390930400103697
FL                     1,705.25            287,200.00              80.00      No MI                           100390930400158550
FL                       516.58             70,352.75              80.00      No MI                           100022100154083703
TN                       352.25             50,922.14              75.00      No MI                           100390930400103515
TN                       609.42             91,449.40              80.00      No MI                           100022100154060511
FL                     1,169.09            166,951.04              76.00      No MI                           100022100154062590
TN                       878.20            131,782.97              80.00      No MI                                                    0
TN                       352.25             49,112.63              75.00      No MI                           100390930400117556
FL                     3,520.83            520,000.00              80.00      No MI                           100022100154064166
LA                       583.86             95,000.00              79.17      No MI                           100390930400117309
TN                       553.50             78,086.44              89.99      Republic MIC                    100022100154063333
FL                       843.75            135,000.00              77.14      No MI                           100022100154063176
FL                     5,220.50            719,005.75              76.60      No MI                           100390930400130096
GA                       753.13             93,548.87              80.00      No MI                           100184698160505024
GA                       763.54            109,037.41              70.00      No MI                           100184698160407067
GA                       517.25             74,833.01              74.96      No MI                           100184620160503018
GA                       532.26             75,145.57              80.00      No MI                           100184622060516041
GA                       429.00             62,400.00              80.00      No MI                           100184698160509136
GA                       697.92            100,000.00              79.37      No MI                           100184698160426208
GA                       860.62            121,500.00              75.00      No MI                           100184698160531106
GA                     1,234.74            194,320.00              80.00      No MI                           100184601160412038
GA                       986.18            134,309.82              80.00      No MI                           100184698160508229
GA                     1,058.02            145,819.58              80.00      No MI                           100184698160511231
GA                       612.94             93,400.00              78.82      No MI                           100184622060412019
GA                       577.56             81,540.94              80.00      No MI                           100184633060321019
CA                     1,146.63            161,882.74              57.65      No MI                           100184698160517089
PA                       492.53             64,759.72              80.00      No MI                           100086850060500330
NJ                     1,013.87            144,892.38              60.42      No MI                           100086805060400295
PA                     1,126.46            166,931.79              80.00      No MI                           100086801060301336
PA                       290.03             40,000.00              80.00      No MI                           100086801060503055
PA                       714.74            108,708.59              80.00      No MI                           100086819060300124
PA                       904.81            135,888.52              80.00      No MI                           100086801060202450
NY                     2,154.17            376,000.00              80.00      No MI                           100086850060400283
PA                       307.43             42,400.00              80.00      No MI                           100086801060502958
PA                       392.20             51,535.63              80.00      No MI                           100086801060202781
PA                       338.58             45,570.17              80.00      No MI                           100086801060301237
PA                     3,326.52            499,590.15              64.94      No MI                           100086816060300609
PA                       742.03             91,151.47              80.00      No MI                           100086850060500223
NY                     1,182.47            179,848.78              24.83      No MI                           100314507700868709
FL                     4,989.77            749,385.23              53.57      No MI                           100314507700896429
NY                     2,387.62            349,726.97              63.06      No MI                           100314507700879060
NY                     7,226.22          1,099,075.87              65.28      No MI                           100314507700843082
NJ                     4,042.31            600,000.00              62.50      No MI                           100314507700895173
NY                     1,347.44            199,840.06              44.94      No MI                           100314507700905451
NY                     4,769.47            650,000.00              74.29      No MI                           100314507770087593
AZ                     1,097.51            175,757.07              80.00      No MI                           100169900400000044
AZ                     1,396.33            214,356.83              80.00      No MI                           100169900380000584
NJ                       424.13             63,645.18              70.83      No MI                           100076400000919273
NJ                       661.30            105,604.14              20.19      No MI                           100076400000916246
AR                       379.94             52,363.94              80.00      No MI                           100022100138709936
TX                       635.99             94,400.00              80.00      No MI                           100052100006030871
TX                       386.86             53,961.89              80.00      No MI                           100052100006027265
TX                       884.06            127,902.61              80.00      No MI                           100052100006024072
TX                       382.39             51,466.31              72.03      No MI                           100052100006026903
IL                       861.00            131,200.00              80.00      No MI                           100378000003136860
GA                     2,962.36            412,914.44              79.37      No MI                           100378000003150580
FL                       781.32            103,866.90              80.00      No MI                                                    0
FL                     1,245.91            163,715.52              80.00      No MI                           100378000003160811
GA                       467.08             76,000.00              80.00      No MI                           100378000003160589
FL                       931.78            144,338.65              80.00      No MI                                                    0
SC                     3,420.33            449,720.29              31.03      No MI                           100378000003163914
CO                       698.72            114,009.70              68.73      No MI                           100378000003154988
GA                       585.08             95,200.00              80.00      No MI                           100378000003157783
FL                     1,138.74            158,149.30              85.00      No MI                                                    0
IN                       674.81            103,964.36              80.00      No MI                           100378000003159573
MO                     1,776.45            279,572.00              80.00      No MI                           100386100002125060
AZ                       410.46             55,243.83              80.00      No MI                           100386100002180461
FL                     1,138.67            179,200.00              80.00      No MI                           100022100149072324
NJ                     2,068.33            272,000.00              80.00      No MI                           100061200006336390
NY                     2,230.10            334,925.23              80.00      No MI                           100386100002164705
CA                       901.59            139,600.00              75.87      No MI                           100386100002131753
CA                     3,105.98            490,060.07              65.00      No MI                                                    0
VA                     1,783.65            251,817.60              80.00      No MI                           100386100002149136
AZ                     4,017.71            665,000.00              70.00      No MI                           100386100002111045
TX                     1,560.55            230,502.98              65.00      No MI                           100386100002049997
CA                     1,991.34            329,600.00              80.00      No MI                           100386100002150795
TX                       992.10            112,999.98              95.00      No MI                           100386100002152361
TX                     1,520.27            182,686.69              80.00      No MI                           100386100002116226
AZ                     3,168.51            475,859.61              75.00      No MI                           100386100002128981
GA                       683.21            107,520.00              80.00      No MI                           100386100002144681
TX                     1,593.74            187,410.17              75.00      No MI                           100386100002158418
WA                     2,374.80            361,874.00              80.00      No MI                           100386100002143816
TX                       746.35            105,369.67              75.00      No MI                           100386100002132793
NC                       972.60            140,711.85              80.00      No MI                           100051700207021891
IN                       533.93             82,249.12              79.99      No MI                           100051700184360718
NC                     1,102.99            165,261.27              80.00      No MI                           100051700184034693
CO                       445.57             59,985.68              80.00      No MI                           100414001000149753
AZ                     1,416.13            230,421.00              80.00      No MI                           100414001000167854
CO                       918.41            115,300.10              70.00      No MI                           100414001000151619
TX                       574.85             87,596.00              80.00      No MI                           100414001000151056
CA                     1,964.67            288,000.00              80.00      No MI                           100291300005120548
MN                     1,022.67            166,400.00              80.00      No MI                           100197500000301267
MN                     1,583.37            286,800.00              79.97      No MI                           100197500000300079
TX                       928.09            127,733.99              80.00      No MI                           100098900060349562
GA                       631.06             84,000.00              80.00      No MI                           100098900060506773
GA                       506.78             71,548.18              80.00      No MI                           100098900060534890
TX                       726.24            105,069.99              70.00      No MI                           100098900060505593
GA                     1,352.85            223,920.00              80.00      No MI                           100098900060365501
TX                       732.88             97,489.79              80.00      No MI                           100098900060520907
CA                     2,324.89            332,500.00              70.00      No MI                           100098900060603075
GA                       686.00            117,600.00              80.00      No MI                           100098900060511948
IL                     1,678.13            259,840.00              80.00      No MI                           100098900060526540
IL                       620.22             81,600.00              80.00      No MI                           100098900060523521
NJ                     4,244.30            646,750.00              65.00      No MI                           100098900060523570
TX                       406.04             55,961.46              80.00      No MI                           100098900060518364
TX                       936.35            130,607.75              79.94      No MI                           100098900060511138
TX                     1,180.83            157,077.77              70.00      No MI                           100098900060443852
TX                       733.61            102,327.72              80.00      No MI                           100098900060547932
TX                       401.69             54,064.61              79.85      No MI                           100098900060537760
TX                       746.08            113,689.00              70.00      No MI                           100098900060444264
GA                     1,614.39            212,267.98              80.00      No MI                           100098900060526664
TX                       705.18            102,022.31              69.97      No MI                           100098900060505569
TX                     1,081.08            164,736.00              80.00      No MI                           100098900060168483
GA                     1,407.00            214,400.00              80.00      No MI                           100098900060526383
NC                     1,088.37            151,812.78              80.00      No MI                           100098900060540897
TX                     1,220.06            162,296.44              70.00      No MI                           100098900060443621
TX                       567.00             85,050.00              70.00      No MI                           100098900060528165
TX                       404.32             50,250.00              75.00      No MI                           100199105110038193
UT                     1,990.28            323,842.00              80.00      No MI                           100199105110040736
CA                     1,605.91            274,059.11              58.99      No MI                           100033500000086940
PA                       984.50            140,590.35              76.94      No MI                           100232600000061387
PA                     1,132.16            163,795.26              80.00      No MI                           100232600000064241
MD                     2,050.00            328,000.00              80.00      No MI                           100229900256050778
MI                       515.69             78,434.05              71.36      No MI                           100202930605030016
KY                       344.95             47,957.34              90.00      No MI                           100202910602060018
OH                       788.31            119,899.19              80.00      No MI                           100202930605090085
NV                     1,360.00            217,600.00              80.00      No MI                           100219306045026750
WA                     3,152.21            439,689.46              80.00      No MI                           100073500011725339
FL                     1,383.83            207,829.50              80.00      No MI                           100073500011718086
MD                       736.11            103,848.96              80.00      No MI                           100073500011710036
GA                       540.00             86,400.00              90.00      No MI                           100073500011685022
OR                     1,133.36            158,088.35              70.00      No MI                           100073500011740759
TX                     1,179.13            166,472.43              70.00      No MI                           100073500011723532
CA                     1,340.63            234,000.00              65.00      No MI                           100073500011682284
TX                     1,011.58            159,200.00              80.00      No MI                           100073500011701241
AZ                     3,053.90            406,240.79              75.00      No MI                           100073500011750873
TX                       746.67            128,000.00              80.00      No MI                           100073500011700391
AZ                     1,775.00            284,000.00              80.00      No MI                           100073500011738175
MD                     1,462.50            270,000.00              75.00      No MI                           100073500011691028
CA                     1,267.61            206,567.53              54.19      No MI                           100073500011689790
CA                     1,340.63            234,000.00              65.00      No MI                           100073500011682250
AZ                     1,153.13            184,500.00              69.98      No MI                                                    0
CA                     1,293.95            199,088.82              86.74      Radian Guaranty                 100073500011680393
AZ                     1,471.93            239,500.00              77.01      No MI                           100073500011735866
FL                     1,250.00            200,000.00              80.00      No MI                           100073500011730727
FL                       558.94             74,352.56              80.00      No MI                           100073500011727210
CA                     1,902.08            332,000.00              80.00      No MI                           100073500011735395
AZ                       922.11            138,486.39              70.00      No MI                           100073500011733838
CA                     2,606.25            417,000.00              79.43      No MI                           100073500011724456
TX                       420.00             64,000.00              80.00      No MI                           100372790604120406
ID                       886.41            137,250.00              75.00      No MI                                                    0
CA                     2,575.16            391,670.67              80.00      No MI                           100073500011708426
TX                       746.67            128,000.00              80.00      No MI                           100073500011702650
FL                     1,890.68            270,400.00              80.00      No MI                           100073500011762076
PA                       976.10            139,392.15              80.00      No MI                           100073500011707477
CA                     2,200.47            343,754.15              80.00      No MI                           100073500011711133
KY                       836.14            138,396.17              80.00      No MI                           100073500011705091
TX                       916.65            120,525.04              79.87      No MI                           100073500011743795
TX                       614.26             87,718.50              94.97      Mortgage Guaranty In            100073500011682334
FL                     1,015.10            139,903.65              70.00      No MI                           100073500011709358
AR                       757.28            100,735.72              80.00      No MI                           100073500011725016
AR                       545.25             75,148.25              80.00      No MI                           100073500011731915
OR                     1,475.00            240,000.00              80.00      No MI                           100073500011731196
MD                     1,292.18            171,890.32              80.00      No MI                           100073500011735478
ID                     1,135.14            164,980.45              80.00      No MI                           100073500011738894
CA                     6,992.15          1,000,000.00              71.94      No MI                           100073500011704805
CA                     2,005.21            350,000.00              73.68      No MI                           100073500011724597
ID                       730.00            116,800.00              80.00      No MI                           100073500011733580
VA                     1,139.93            169,200.00              80.00      No MI                           100073500011750659
NJ                     2,701.42            395,380.29              80.00      No MI                           100073500011690046
CA                     2,356.25            390,000.00              62.90      No MI                           100073500011741401
VA                       825.75            134,360.00              80.00      No MI                           100073500011750824
OR                     2,958.58            417,697.46              76.00      No MI                           100073500011705760
OR                     1,672.92            292,000.00              79.89      No MI                           100073500011695656
OR                     1,225.02            175,200.00              80.00      No MI                           100073500011744850
ID                     2,195.42            299,200.00              80.00      No MI                           100073500011749404
TX                       974.44            134,298.95              80.00      No MI                           100073500011717435
PA                       317.79             42,273.02              90.00      Mortgage Guaranty In            100073500011742029
CA                     1,353.33            224,000.00              80.00      No MI                           100073500011693966
CA                     1,873.89            267,801.11              80.00      No MI                           100073500011719563
KY                       791.78            109,124.85              80.00      No MI                           100073500011736575
FL                     1,131.11            155,784.58              80.00      No MI                           100073500011702017
MD                     1,747.40            305,000.00              70.11      No MI                           100073500011717310
OH                       725.07             99,861.91              80.00      No MI                           100330706040123532
IN                     1,230.62            175,869.38              80.00      No MI                           100330706040119357
OH                       513.00             75,141.33              80.00      No MI                           100330706050126532
KY                       341.92             48,863.71              76.41      No MI                           100330706050125872
IN                     1,238.23            168,750.00              75.00      No MI                           100330706060130128
KY                     1,069.20            143,905.80              80.00      No MI                           100330706050125443
OH                       400.00             60,000.00              75.00      No MI                           100330706050125187
IN                       368.77             46,848.03              75.00      No MI                           100330706050128041
OH                       754.07            103,855.89              80.00      No MI                           100330706040123557
OH                       812.08            111,922.92              80.00      No MI                           100330706050125831
KY                     1,422.83            223,920.00              79.97      No MI                           100330706060130649
IN                       839.06            119,720.07              80.00      No MI                           100330706030118484
OH                       275.00             40,000.00              53.33      No MI                           100330706060132033
TN                     1,104.76            158,000.00              80.00      No MI                           100330706050128660
OH                       396.50             50,371.00              80.00      No MI                           100330706050129650
KY                       498.99             70,448.98              74.21      No MI                           100330706050125005
IN                       383.15             50,967.48              75.00      No MI                           100330706050128025
KY                     1,258.59            180,000.00              80.00      No MI                           100330706050129379
HI                       879.19            159,250.00              65.00      No MI                           100238688020504068
HI                       825.36            149,500.00              65.00      No MI                           100238688030504066
CO                     1,128.23            171,920.00              80.00      No MI                           100030200197062258
FL                       761.25            116,000.00              80.00      No MI                           100030200010120226
CO                     1,127.86            177,500.00              50.00      No MI                           100030200112016090
CO                     1,155.42            188,000.00              80.00      No MI                           100030200197061391
CO                     2,202.81            371,000.00              69.35      No MI                           100030200650000001
CO                       723.33            112,000.00              80.00      No MI                           100030200197062530
IL                     1,760.42            260,000.00              80.00      No MI                           100030200030066235
WY                       951.23            144,678.35              80.00      No MI                           100030200449001518
FL                       922.29            127,200.00              80.00      No MI                           100030200010121422
DC                     5,585.94            975,000.00              50.00      No MI                           100015305360181121
VA                     5,671.88            825,000.00              75.00      No MI                                                    0
NJ                     3,786.54            576,400.00              48.03      No MI                           100015305860405947
ME                     1,394.57            230,825.00              70.00      No MI                           100015305860459241
VA                     3,117.19            475,000.00              95.00      PMI                             100015305360406601
VA                     2,291.67            400,000.00              80.00      No MI                           100015305360387066
DE                     1,270.84            183,719.12              80.00      No MI                           100204100000728865
ID                     1,485.00            259,200.00              80.00      No MI                           100204100000745703
TX                       453.28             68,942.03              75.00      No MI                           100204100000074509
SC                       687.76             95,932.24              80.00      No MI                           100146850106111728
GA                     2,755.77            379,545.16              75.00      No MI                           100022100152382073
SC                       530.14             74,900.00              74.90      No MI                           100146820106098944
SC                       568.33             88,000.00              80.00      No MI                           100146820106101318
NC                     1,015.62            150,000.00              75.00      No MI                           100146850106098701
MN                     2,188.42            320,044.69              80.00      No MI                           100028510001029788
AZ                       498.85             68,608.73              80.00      No MI                           100101309060200053
TX                       653.03             87,892.46              77.83      No MI                           100101309060500932
TX                       469.02             63,877.11              80.00      No MI                           100101309060404358
TX                     1,039.75            157,947.75              80.00      No MI                           100101309060305415
TX                       760.32            102,333.01              80.00      No MI                           100101310060500112
AZ                     1,337.25            191,108.06              75.00      No MI                           100101309060505006
FL                       744.26            101,224.46              70.00      No MI                           100101320060300017
AZ                     1,365.57            195,155.06              70.00      No MI                           100101310060300133
TX                     1,039.75            157,947.75              80.00      No MI                           100101309060303451
KS                       498.29             70,339.04              80.00      No MI                           100101309060304244
AZ                     1,286.11            205,778.00              80.00      No MI                           100101309060503209
MO                       614.19             82,665.89              80.00      No MI                           100101309060405843
TX                       658.74             88,720.00              80.00      No MI                           100101300000016956
AZ                     2,233.56            340,000.00              80.00      No MI                           100101309060505428
TX                       817.16            124,520.00              80.00      No MI                           100101309060406312
CO                       833.46            119,111.54              80.00      No MI                           100101309060405751
AZ                     2,487.38            346,954.95              80.00      No MI                           100101309060500163
TX                       696.20            100,800.00              80.00      No MI                           100101300000016642
MO                       602.83             78,352.50              80.00      No MI                           100101309060403368
TX                     1,633.28            242,234.14              80.00      No MI                                                    0
MO                       805.88            122,800.00              80.00      No MI                           100177054300018100
TX                       703.50             95,876.00              75.00      No MI                           100177011300029974
TX                       435.59             66,375.00              75.00      No MI                           100177011300027986
TX                       550.00             82,500.00              75.00      No MI                           100177011300029446
TX                       316.86             42,647.09              75.00      No MI                           100177011300022003
TX                       460.20             70,125.00              75.00      No MI                           100177011300027820
TX                     1,346.86            187,733.76              80.00      No MI                           100177015800037346
TX                       473.26             70,989.00              73.95      No MI                           100177011300027010
TX                     1,141.98            157,391.61              70.00      No MI                           100177014800028728
NC                       767.25            111,600.00              80.00      No MI                           100177054300018324
TX                       575.00             86,250.00              75.00      No MI                           100177011300029479
TX                       904.40            112,276.74              80.00      No MI                           100177014600017335
TX                       581.53             84,133.94              75.00      No MI                           100177011300029826
TN                       656.25            100,000.00              80.00      No MI                           100177054300017425
TX                     1,154.70            151,825.57              80.00      No MI                           100177015800041231
TX                       473.26             70,989.00              73.95      No MI                           100177011300029222
TX                       473.26             70,989.00              73.95      No MI                           100177011300029297
TX                       799.22            116,250.00              75.00      No MI                           100177011300029578
FL                     1,489.42            207,753.27              79.99      No MI                           100429106050009055
NC                     1,271.73            190,835.71              80.00      No MI                           100429106040008258
FL                     1,736.46            239,324.19              79.32      No MI                           100429106050009212
CA                     1,839.59            309,825.00              60.78      No MI                           100165700600006773
CA                     1,054.17            184,000.00              46.58      No MI                           100165700600005130
FL                     1,259.96            219,920.00              80.00      No MI                           100015902096068612
NM                     1,073.44            171,750.00              79.99      No MI                           100015901301076634
CO                       939.74            167,064.00              80.00      No MI                           100015901041309105
VA                     1,368.65            211,920.00              80.00      No MI                           100297130605080055
OH                     1,403.20            213,420.55              79.41      No MI                                                    0
FL                     1,096.44            128,933.21              95.00      Mortgage Guaranty In            100022100154228928
FL                     1,004.31            138,512.00              80.00      No MI                                                    0
FL                     1,098.44            155,079.68              80.00      No MI                                                    0
OH                       927.70            142,908.86              80.00      No MI                                                    0
FL                     1,299.75            208,336.00              80.00      No MI                                                    0
OH                       871.12            111,933.88              80.00      No MI                                                    0
FL                     1,337.28            188,792.00              80.00      No MI                                                    0
NY                       648.60             99,467.56              12.50      No MI                           100049616280520689
NY                       739.42            124,079.64               5.00      No MI                           100049616280517297
TN                     1,215.50            176,800.00              80.00      No MI                           100401400000002183
RI                     2,013.74            287,786.26              80.00      No MI                           100102600400549871
NY                     1,957.69            269,814.19              80.00      No MI                                                    0
NJ                     1,689.50            261,600.00              80.00      No MI                           100102600400548840
PA                       386.27             47,449.74              69.98      No MI                           100102600400542561
CT                     1,392.84            208,586.38              80.00      No MI                                                    0
RI                     2,491.59            383,868.41              80.00      No MI                           100102600400553048
NJ                     6,388.59            973,500.00              74.92      No MI                           100294800039089111
OK                       408.69             54,365.31              80.00      No MI                           100259810000002285
TX                     1,048.95            148,092.74              95.00      PMI                             100259810000001964
TX                       543.68             85,937.23              52.77      No MI                           100259810000001881
OK                       682.18             99,921.99              80.00      No MI                           100259810000002053
OK                       534.27             66,363.73              80.00      No MI                           100259810000002137
TX                       715.00            114,400.00              80.00      No MI                           100259810000001980
OK                       662.58             94,494.11              80.00      No MI                           100259810000001766
TX                       895.11            129,501.39              80.00      No MI                           100259810000002210
TX                     2,844.68            417,000.00              53.81      No MI                           100259810000002657
TX                       931.42            139,885.25              80.00      No MI                           100259810000002319
MD                     2,687.82            403,335.75              71.50      No MI                           100127800005009179
VA                     1,185.17            169,374.21              79.99      No MI                           100127800005014138
MD                       455.00             72,800.00              63.30      No MI                           100127800007272387
NC                       904.11            126,110.93              78.24      No MI                                                    0
DC                     1,955.08            341,249.65              75.00      No MI                           100127800007268732
NC                     1,131.25            181,000.00              79.98      No MI                           100127800007262347
MD                     1,715.92            279,200.00              80.00      No MI                                                    0
MD                     1,371.19            205,931.06              79.98      No MI                           100127800005020523
NC                       538.75             86,200.00              79.96      No MI                           100127800007273195
MD                       736.11            103,924.72              80.00      No MI                           100127800007274029
ME                       903.86            142,870.58              62.17      No MI                           100102373590157125
MA                     1,156.19            175,553.88              67.69      No MI                           100102373590154486
RI                     1,550.35            235,602.33              80.00      No MI                           100102373590155871
MD                     2,432.50            417,000.00              76.16      No MI                           100102373390138176
CA                     2,809.41            417,000.00              64.15      No MI                           100256420060511325
CT                       974.73            153,400.00              65.00      No MI                           100059400000009423
CA                     4,132.90            570,000.00              48.31      No MI                                                    0
CA                     4,130.21            650,000.00              65.00      No MI                           100022100137471348
SC                       576.17             93,750.00              73.82      No MI                                                    0
AL                       667.19            105,000.00              75.00      No MI                           100031449004095923
VA                     1,656.25            300,000.00              80.00      No MI                           100031458006032347
FL                       401.04             70,000.00              70.00      No MI                           100031449005024567
MD                     2,173.47            353,650.00              80.00      No MI                           100031458006050034
NJ                     1,326.15            194,248.35              80.00      No MI                           100031432006050484
GA                       862.50            138,000.00              75.00      No MI                           100031449006032692
NC                       804.06            124,500.00              69.98      No MI                           100031449005114566
NC                       676.72            106,499.99              75.00      No MI                           100031449006041198
FL                     1,365.00            208,000.00              80.00      No MI                           100031449005110770
MD                       586.74             81,900.00              70.00      No MI                           100031402006060080
WA                     1,225.00            183,750.00              75.00      No MI                           100031462008050002
WA                       786.70             99,767.34              80.00      No MI                           100031462006020005
KS                       592.92             90,350.00              74.36      No MI                           100031449006032726
IN                       797.34            121,500.00              75.00      No MI                           100031449006032536
WA                     1,319.00            197,850.00              75.00      No MI                           100031462006050101
TX                       399.67             53,131.93              80.00      No MI                           100039225373394416
IL                     1,454.32            202,314.96              70.00      No MI                           100039270021997764
CA                     2,011.98            279,926.56              80.00      No MI                           100039262050153930
IL                       741.81            107,900.00              79.99      No MI                           100039237410379763
NY                     1,789.33            281,600.00              80.00      No MI                           100039279695297112
PA                     1,149.00            142,643.42              80.00      No MI                           100039286981404948
CA                     3,390.63            524,999.99              70.00      No MI                           100039242245568143
MI                       298.60             36,640.96              74.87      No MI                           100039226096058239
CO                     1,149.46            162,164.17              80.00      No MI                           100039285474345097
TX                     1,049.39            124,738.61              79.80      No MI                           100039241543704434
FL                       604.37             91,688.16              80.00      No MI                           100039279152226141
TX                     1,047.53            147,457.59              80.00      No MI                           100039257250188850
TX                     1,219.00            195,040.00              80.00      No MI                           100039274050282726
NM                     1,562.00            227,200.00              80.00      No MI                           100039282931891029
FL                     2,442.33            411,340.00              70.00      No MI                           100195910002015637
PA                     1,676.72            255,500.00              70.00      No MI                           100195910002181256
NV                    14,649.70          1,948,756.55              75.00      No MI                           100183300000307851
AZ                       902.84            141,000.00              44.06      No MI                           100183300000308966
CA                     2,936.25            486,000.00              60.00      No MI                           100183300000295528
CA                     1,953.91            307,500.00              71.51      No MI                           100183300000302928
AZ                       699.99            103,816.92              79.98      No MI                                                    0
MD                     1,832.25            279,200.00              80.00      No MI                           100183300000303157
CA                     1,813.34            267,834.45              80.00      No MI                           100183300000295460
AZ                     1,094.93            171,000.00              61.07      No MI                           100183300000308982
AZ                       904.17            140,000.00              80.00      No MI                           100183300000311747
AZ                       700.00            112,000.00              74.17      No MI                           100183300000297094
NY                     2,257.50            344,000.00              80.00      No MI                           100129810014303023
NY                     1,673.75            267,800.00              80.00      No MI                           100129810013029455
NY                     3,109.31            473,800.00              80.00      No MI                           100129810013029703
NJ                     2,164.77            309,370.23              80.00      No MI                           100234400000150530
PA                       504.86             67,157.14              80.00      No MI                           100234400000148617
PA                       725.84            106,400.00              80.00      No MI                           100234400000152312
FL                     2,233.88            307,665.55              80.00      No MI                           100142000000229572
FL                       935.38            128,280.00              80.00      No MI                           100142000000222833
TX                     2,490.69            312,509.60              80.00      No MI                           100213300000134366
CA                       966.67            160,000.00              24.62      No MI                           100194006050091421
CA                     1,787.50            312,000.00              80.00      No MI                           100194006040089246
NY                     1,550.15            238,587.30              45.52      No MI                           100284939604120059
NY                     3,009.50            462,794.74              80.00      No MI                           100284910160001199
NY                     5,726.61            849,320.27              44.10      No MI                           100284906050000366
UT                       483.73             65,836.25              75.00      No MI                           100114201000263066
OR                     2,135.02            324,726.96              57.52      No MI                           100114201000265533
ID                     1,582.29            217,000.00              70.00      No MI                           100114201000260260
WA                     1,691.67            280,000.00              80.00      No MI                           100134001100119689
CA                     1,989.79            323,762.83              80.00      No MI                           100134001100113294
FL                     1,992.76            284,146.00              95.00      United Guaranty                 100442214185668895
WA                     1,274.03            180,000.00              80.00      No MI                           100146001296964159
OH                       411.84             56,760.91              80.00      No MI                           100196368000815939
MD                     4,062.50            650,000.00              79.75      No MI                           100196368000827033
MD                     1,615.00            228,000.00              80.00      No MI                           100196368000871593
VA                     2,489.17            412,000.00              80.00      No MI                           100196368000837594
MD                       617.67             87,200.00              80.00      No MI                           100196368000864879
MD                     2,068.33            292,000.00              80.00      No MI                           100196368000872302
CO                       701.50            110,400.00              80.00      No MI                           100196368000874787
MD                     1,671.67            236,000.00              80.00      No MI                           100196368000866734
CA                     7,004.38          1,120,700.00              70.00      No MI                           100019977910000518
IA                       777.79             99,940.96              80.00      No MI                                                    0
SC                     4,666.67            700,000.00              80.00      No MI                                                    0
MD                     1,581.67            208,000.00              80.00      No MI                           100091200001048911
FL                     1,001.41            147,900.00              79.99      No MI                           100022100155046089
FL                       847.92            148,000.00              80.00      No MI                                                    0
FL                       965.20            151,900.00              79.99      No MI                                                    0
FL                       955.19            147,900.00              79.99      No MI                                                    0
FL                     1,208.75            183,845.42              80.00      No MI                           100022100154613202
CA                     3,440.14            492,000.00              80.00      No MI                           100067301000287888
CA                     2,262.03            339,721.30              80.00      No MI                           100067307000287299
WA                     1,930.86            272,602.56              62.00      No MI                           100067307000287505
GA                     2,896.64            359,803.36              75.00      No MI                           100263700001062830
SC                       351.00             46,800.00              65.00      No MI                           100263700004060815
SC                       393.88             48,410.00              72.25      No MI                           100263700004062563
GA                       498.96             67,954.37              80.00      No MI                           100263700000961107
FL                       659.10             91,869.72              80.00      No MI                           100263700000961321
GA                     1,860.00            288,000.00              80.00      No MI                           100263700001062889
GA                     1,010.73            142,696.64              70.00      No MI                           100263700001061386
SC                       668.53             97,846.64              79.35      No MI                           100039295066387627
NV                     1,538.33            284,000.00              80.00      No MI                           100062500080623376
CO                     1,236.23            204,892.00              80.00      No MI                           100062500080651047
NV                     1,982.87            305,492.28              80.00      No MI                           100062500080672035
UT                     1,066.10            179,286.13              80.00      No MI                           100062500080722319
GA                     2,206.16            322,893.91              79.99      No MI                           100022100137749974
GA                     1,675.32            239,243.25              79.99      No MI                           100022100152470183
GA                       599.32             78,800.99              79.97      No MI                           100022100152649489
GA                       741.77            104,570.29              80.00      No MI                           100022100138490396
GA                     2,647.75            498,400.00              80.00      No MI                                                    0
GA                       893.00            150,400.00              80.00      No MI                                                    0
FL                       892.50            136,000.00              79.07      No MI                           100022100154607022
GA                     1,436.36            197,963.67              79.99      No MI                           100022100153030432
NC                     1,349.08            207,820.92              78.49      No MI                                                    0
GA                     1,026.00            182,400.00              80.00      No MI                                                    0
GA                     2,835.00            504,000.00              80.00      No MI                           100022100153956198
GA                     1,082.08            196,000.00              80.00      No MI                                                    0
GA                     3,443.77            550,974.75              80.00      No MI                                                    0
GA                     5,108.19            943,050.00              75.00      No MI                           100022100138199823
GA                     1,173.94            144,093.29              74.99      No MI                                                    0
GA                     6,019.10            964,800.00              79.99      No MI                           100022100138243399
NC                       362.90             51,861.48              67.40      No MI                           100022100154570139
FL                       659.01             94,180.05              65.00      No MI                           100022100153858345
GA                       814.68            115,100.00              79.99      No MI                           100022100155137326
GA                       895.16            124,861.81              79.98      No MI                                                    0
GA                     3,386.45            550,000.00              68.21      No MI                           100022100137812996
GA                       755.16            107,919.85              80.00      No MI                           100022100154473110
NC                     1,732.68            244,622.82              80.00      No MI                                                    0
GA                     3,590.15            567,486.52              80.00      No MI                           100022100152310793
GA                     3,992.15            639,307.33              72.72      No MI                           100022100153358544
NC                     1,363.67            199,587.18              79.99      No MI                                                    0
GA                     2,989.53            503,500.00              69.45      No MI                                                    0
GA                       424.68             59,956.57              80.00      No MI                                                    0
NC                       397.79             56,159.32              74.93      No MI                           100022100152961488
GA                       575.25             93,600.00              80.00      No MI                           100022100153507884
GA                     2,556.13            471,900.00              80.00      No MI                                                    0
GA                     1,051.09            159,865.58              72.73      No MI                           100022100153378013
NC                       657.42             85,448.20              90.00      GE Capital MI                   100022100153916184
FL                     1,103.63            154,050.00              65.00      No MI                           100022100154460406
FL                     3,018.04            426,091.38              65.00      No MI                                                    0
NC                       385.75             54,460.55              74.66      No MI                           100022100152960563
GA                     3,276.84            582,550.00              79.92      No MI                                                    0
GA                       773.56            111,914.78              80.00      No MI                                                    0
GA                     3,665.99            580,000.00              80.00      No MI                           100022100153975990
FL                     3,025.39            466,048.40              78.56      No MI                                                    0
FL                     1,050.00            168,000.00              73.04      No MI                           100271100000240349
NJ                     1,420.83            248,000.00              80.00      No MI                           100271100000237733
NY                     2,562.81            417,000.00              77.22      No MI                           100271100000235919
FL                       926.05            135,750.00              75.00      No MI                           100271100000235513
CA                     2,041.88            363,000.00              55.00      No MI                           100271100000229987
NJ                     2,366.00            405,600.00              80.00      No MI                           100271100000223212
FL                       698.96            110,000.00              39.29      No MI                           100271100000236560
MO                     1,691.55            250,000.00              64.94      No MI                           100258910060413017
VA                     2,182.96            319,750.37              80.00      No MI                           100258940060303066
VA                     1,147.57            179,336.30              65.00      No MI                           100258910060425490
OH                       790.09            123,602.77              79.11      No MI                           100115600097703638
IN                       551.25             98,000.00              80.00      No MI                           100115600098677971
IN                       551.25             98,000.00              80.00      No MI                           100115600098693069
OH                     2,377.33            337,928.07              77.27      No MI                           100115600098925065
OH                     1,275.39            172,592.94              90.00      No MI                           100115600098952697
IN                       510.75             90,800.00              80.00      No MI                           100115600098690255
OH                       778.59            128,808.58              65.00      No MI                           100115600099428630
IN                       608.54            108,185.00              80.00      No MI                           100115600098680926
MI                     3,611.35            559,421.32              80.00      No MI                           100115600091452778
IN                       608.54            108,185.00              80.00      No MI                           100115600098679878
IN                       510.75             90,800.00              80.00      No MI                           100115600098680769
IN                       631.08            108,185.00              80.00      No MI                           100115600052548754
IN                       510.75             90,800.00              80.00      No MI                           100115600098680686
OH                       372.67             60,473.26              90.00      No MI                           100074500000343101
UT                     9,308.29          1,330,262.02              75.00      No MI                           100099210604070016
UT                     1,017.31            141,899.77              74.74      No MI                           100099230605080004
MN                       702.38            107,030.00              70.00      No MI                           100431500000005484
MN                       786.62            121,800.00              70.36      No MI                           100431500000006623
TX                     1,676.36            231,040.89              80.00      No MI                           100198900000053687
TX                       773.72            107,922.77              77.14      No MI                           100198900000052317
CA                     1,251.54            231,053.13              65.00      No MI                           100198900000046871
TX                       931.34            130,000.00              65.00      No MI                           100198900000058132
TX                       730.53            101,970.00              75.00      No MI                           100198900000055229
TX                       628.12             99,375.00              75.00      No MI                           100198900000056599
TN                       660.76             94,429.87              70.00      No MI                           100198900000055146
TX                     1,206.52            166,285.48              80.00      No MI                           100198900000054073
TX                       708.30            101,300.00              64.94      No MI                           100198900000054966
TX                     1,229.72            169,600.00              80.00      No MI                           100198900000058447
TX                       516.71             67,200.00              80.00      No MI                           100198900000060807
CA                     1,104.21            207,850.57              58.47      No MI                           100198900000046780
TX                       699.21             99,925.79              80.00      No MI                           100198900000050147
TX                       479.80             62,400.00              80.00      No MI                           100198900000060856
TX                       817.46            115,967.96              80.00      No MI                           100198900000058090
TX                       890.97            122,795.43              80.00      No MI                           100198900000056698
GA                       832.37            117,600.00              80.00      No MI                           100187100511359078
GA                       967.98            131,920.00              80.00      No MI                           100187100511342967
AZ                       688.33            112,000.00              51.61      No MI                           100240406040515659
AZ                     1,463.47            194,800.00              80.00      No MI                           100240406050516860
OR                     1,092.99            158,008.44              75.00      No MI                           100400200000428887
GA                     3,459.91            565,000.00              56.22      No MI                           100022100153838701
GA                       481.04             71,342.90              70.00      No MI                           100022100153429428
AZ                     1,662.50            285,000.00              75.00      No MI                           100199500137575237
AZ                     1,076.91            150,213.91              80.00      No MI                           100199500154029282
WI                       366.06             52,958.71              61.63      No MI                           100220710000120309
TX                       964.20            132,980.00              80.00      No MI                           100016900060982718
TX                       706.93            101,104.00              80.00      No MI                           100016900054890182
TX                       645.23             86,900.00              94.98      Radian Guaranty                 100016900058862963
TX                       609.67             84,979.49              79.99      No MI                           100016900061011251
ID                       927.49            135,960.00              80.00      No MI                           100016910001004647
GA                     1,253.33            188,000.00              80.00      No MI                           100016900053816113
GA                     2,445.00            391,200.00              80.00      No MI                           100016900055030812
WA                       708.00            115,200.00              80.00      No MI                           100016900062192993
TX                       970.14            133,707.92              80.00      No MI                           100016900060982973
WA                       632.20             95,024.00              80.00      No MI                           100016910000051029
CO                     4,956.25            780,000.00              80.00      No MI                           100016910000824110
IN                       572.07             74,354.93              80.00      No MI                           100399600000122725
GA                       660.83            104,000.00              80.00      No MI                           100399600000124952
MN                     2,433.27            348,000.00              80.00      No MI                           100399600000123558
MN                       645.83            100,000.00              62.50      No MI                           100399600000124390
TX                     1,574.09            211,861.33              80.00      No MI                           100251800000019247
FL                       365.92             55,000.00              59.14      No MI                           100251800000021185
TX                       401.01             50,400.00              80.00      No MI                           100251800000021888
TX                       469.34             68,746.33              80.00      No MI                           100251800000017423
TX                       849.28            114,306.17              80.00      No MI                                                    0
TX                       669.44             90,101.02              80.00      No MI                           100251800000016888
TX                       292.45             37,577.80              80.00      No MI                                                    0
TX                       469.45             73,880.00              80.00      No MI                           100251800000021698
TX                       651.76             87,722.58              80.00      No MI                           100251800000018561
NC                       998.71            146,170.89              80.00      No MI                           100251800000016326
TX                     1,473.34            203,060.16              80.00      No MI                           100251800000019098
NM                       679.48             95,860.60              80.00      No MI                                                    0
NC                       525.01             67,460.15              90.00      GE Capital MI                   100251800000017522
TX                       379.87             54,958.15              78.57      No MI                           100251800000019106
TX                       458.23             79,982.48              80.00      No MI                           100251800000016425
TX                       393.68             51,168.99              80.00      No MI                           100251800000018215
TX                       455.89             56,002.19              80.00      No MI                           100251800604180031
VA                       433.58             61,963.98              90.00      Republic MIC                    100251800000017613
FL                       796.08            129,948.71              62.05      No MI                           100251800000016615
CO                       927.76            135,893.91              80.00      No MI                           100095303311003786
CO                       991.25            156,000.00              80.00      No MI                           100095307013500114
CO                     1,524.09            231,523.41              80.00      No MI                           100095306537701075
CA                     3,718.23            605,000.00              62.05      No MI                           100034200057092789
MA                     2,369.00            329,600.00              80.00      No MI                           100034200005458918
VA                     1,643.33            272,000.00              80.00      No MI                           100034200057127353
FL                     1,574.89            235,924.69              80.00      No MI                           100273306041010694
GA                       696.09            121,500.00              75.00      No MI                           100148706023810008
TX                       612.57             94,849.14              70.00      No MI                           100424906030030278
TX                       365.42             46,423.28              70.00      No MI                           100424906040037511
TX                       407.30             51,162.30              70.00      No MI                           100424906050043326
LA                       417.64             57,520.46              80.00      No MI                           100424906030033496
UT                       818.45            118,500.00              60.00      No MI                           100424906050042070
TX                       335.92             42,650.69              70.00      No MI                           100424906040037479
TX                       330.19             44,517.31              90.00      United Guaranty                 100424906040041281
IL                       576.85             82,500.00              75.00      No MI                           100424906040038485
TX                       583.34             74,955.72              75.00      No MI                           100424906050045313
TX                       346.93             44,074.63              70.00      No MI                           100424906040037495
TX                       395.44             49,672.13              70.00      No MI                           100424906050043284
CO                       727.00            116,320.00              80.00      No MI                           100424906030029791
SC                       476.58             65,360.00              65.00      No MI                           100424906020026716
IL                       754.74            102,050.00              65.00      No MI                           100424906010020398
MD                     1,150.00            184,000.00              80.00      No MI                           100038500010133752
GA                       790.50            122,400.00              80.00      No MI                           100038500010136771
MD                     2,175.00            360,000.00              80.00      No MI                           100038500010140765
AL                       635.43             91,929.99              80.00      No MI                           100038500010132903
FL                     1,476.78            224,611.14              80.00      No MI                           100038500010135278
AL                       706.10            107,596.00              80.00      No MI                           100038500010140930
GA                       699.21             99,886.95              79.05      No MI                           100038500010129974
FL                     2,693.33            404,000.00              80.00      No MI                           100038500010137811
MS                     1,188.68            165,920.00              80.00      No MI                           100038500010142407
MD                       399.19             59,901.34              65.93      No MI                           100038500010127846
AL                       972.47            140,800.00              80.00      No MI                           100038500010139825
NC                       560.60             76,400.00              80.00      No MI                           100038500010139510
GA                       825.07            111,120.00              80.00      No MI                           100038500010139643
NC                     2,700.00            405,000.00              90.00      GE Capital MI                   100083300000010746
WI                       795.67            123,200.00              80.00      No MI                           100083300000011397
MI                       975.75            136,200.00              80.00      No MI                           100133001000557856
MA                     1,729.79            259,786.88              57.78      No MI                           100209600002210072
FL                     1,206.56            162,393.70              65.00      No MI                           100255500000041037
CA                     4,997.94            649,606.23              79.27      No MI                           100096000016008503
NV                     1,349.02            193,292.00              80.00      No MI                                                    0
CA                     1,450.14            199,584.37              80.00      No MI                           100096000015006391
TX                     1,233.15            156,568.98              95.00      PMI                             100096000060328021
NV                       643.28             91,931.72              80.00      No MI                           100096000060424069
NV                     1,671.67            272,000.00              80.00      No MI                           100096000060503011
NV                     1,246.55            189,951.00              80.00      No MI                           100096000060425025
CO                     1,051.09            160,000.00              80.00      No MI                           100096000060523092
CT                       693.00            100,800.00              70.00      No MI                           100238508482056631
MA                       662.86            115,700.00              65.00      No MI                           100124100000022308
NJ                       775.98            113,750.00              65.00      No MI                           100124100000022829
CA                     3,141.67            464,000.00              80.00      No MI                           100146900008046629
CA                     4,812.50            660,000.00              80.00      No MI                           100146900008041224
CA                     2,795.11            399,154.80              65.00      No MI                           100146900008037883
OH                       379.17             52,000.00              80.00      No MI                           100431900103643019
TX                       634.19             87,405.81              90.00      Triad Guaranty                  100431900103613723
HI                     5,397.58            925,300.00              79.99      No MI                           100431900103690036
AZ                     1,292.50            264,000.00              80.00      No MI                           100431900103499586
IL                     2,555.00            292,000.00              80.00      No MI                           100431900103606834
OH                       321.98             58,320.00              80.00      No MI                                                    0
AZ                     3,977.47            467,719.83              80.00      No MI                           100431900103698294
FL                     1,831.13            231,300.00              79.97      No MI                           100431900103611503
LA                       326.72             46,125.00              75.00      No MI                           100431900103649750
OH                       344.53             52,500.00              75.00      No MI                           100431900103560403
CA                       627.61             91,783.36              80.00      No MI                           100431900103525299
FL                     1,693.36            318,750.00              75.00      No MI                           100431900103495535
AZ                     2,184.04            294,029.80              79.49      No MI                           100431900103652440
WI                       441.05             67,823.36              80.00      No MI                           100431900103546444
NV                     2,737.57            415,862.43              80.00      No MI                           100431900103653745
WA                     1,475.43            183,950.00              80.00      No MI                           100431900103652747
TX                       495.00             74,250.00              75.00      No MI                           100431900103637144
OH                       475.47             67,898.21              80.00      No MI                           100431900103598387
NC                     1,076.48            139,915.19              80.00      No MI                           100431900103678247
LA                       861.25            156,000.00              80.00      No MI                           100431900103504484
TX                       823.75            131,800.00              79.99      No MI                           100431900103626220
TX                       579.50             97,600.00              80.00      No MI                           100020700194841796
AL                       565.33             84,799.99              80.00      No MI                           100020700194756317
NC                     1,040.60            166,496.00              80.00      No MI                           100020700194610787
TX                       579.50             97,600.00              80.00      No MI                           100020700194729439
AL                       356.16             50,283.57              80.00      No MI                           100020700194930060
NC                       567.00             90,720.00              80.00      No MI                           100020700004599287
AL                       425.79             63,947.54              80.00      No MI                           100020700194603931
TX                     2,399.71            342,945.29              80.00      No MI                           100020700190667864
AL                       707.88            106,312.78              80.00      No MI                           100020700194796099
TX                       721.59            103,123.41              80.00      No MI                           100149500055600414
TX                     1,131.85            167,865.65              80.00      No MI                           100149500055598949
TX                       641.25             93,589.89              80.00      No MI                           100149500055600133
OH                     1,041.44            188,639.00              80.00      No MI                           100027605111912286
MD                     4,072.96            620,000.00              71.15      No MI                           100027605122715868
VA                     3,249.13             98,717.75              79.99      No MI                           100027605110302331
OH                       962.68            168,032.00              80.00      No MI                           100027605112112621
OH                     1,349.89            227,350.00              80.00      No MI                           100027606011104594
OH                     1,317.56            234,232.00              80.00      No MI                           100027605102815605
VA                     7,020.84            980,000.00              80.00      No MI                           100027606022113279
VA                     2,206.80            347,300.00              80.00      No MI                           100027605120402048
NJ                     4,769.47            649,563.86              77.22      No MI                           100027606010502111
PA                     2,034.70            315,050.00              79.99      No MI                           100027600807737139
MD                     1,371.76            215,884.00              80.00      No MI                           100027605121509353
NJ                     2,012.63            297,250.00              80.00      No MI                           100027605111609700
MD                     2,899.69            448,984.00              79.98      No MI                           100027605072916771
MD                     3,700.51            572,982.00              80.00      No MI                           100027606012410859
OH                     1,500.74            214,472.71              80.00      No MI                           100027605121207420
FL                     1,616.18            233,281.19              75.00      No MI                           100134600206010021
GA                     1,443.90            204,000.00              80.00      No MI                           100134600206050910
CA                     1,177.00            183,934.67              80.00      No MI                           100121700060501860
CA                     1,513.56            229,923.94              45.10      No MI                           100121700060502082
MA                     2,150.00            344,000.00              80.00      No MI                           100302600970600052
FL                       711.88            107,000.00              64.85      No MI                           100022100155859531
AZ                       790.00            126,400.00              80.00      No MI                           100188601000119716
AZ                     1,415.59            199,855.24              80.00      No MI                           100188601000119666
GA                     1,090.38            171,600.00              80.00      No MI                           100032100001023983
GA                     1,235.46            170,274.74              80.00      No MI                           100032100001024668
GA                       788.71            112,716.29              80.00      No MI                           100032100001026846
GA                     1,675.00            268,000.00              80.00      No MI                           100032100001023801
GA                       561.66             98,036.00              80.00      No MI                           100032100001018603
GA                       912.39            144,088.31              80.00      No MI                           100032100001020252
GA                     1,140.67            185,600.00              80.00      No MI                           100032100001022183
NC                     1,151.22            190,546.70              80.00      No MI                           100032100001014826
GA                     1,240.00            192,000.00              80.00      No MI                           100032100001024924
GA                       734.40            130,560.00              80.00      No MI                           100032100001021854
GA                       752.36            101,127.80              80.00      No MI                                                    0
GA                     1,108.17            168,548.28             100.00      Radian Guaranty                 100032100001027844
GA                       336.75             43,769.47              80.00      No MI                           100032100001028818
GA                       776.95            104,433.26              80.00      No MI                           100032100001008604
GA                     1,181.42            160,899.97              80.00      No MI                           100032100001026523
SC                       877.69            145,272.00              80.00      No MI                           100032100001018306
GA                     1,129.86            176,299.32              80.00      No MI                           100032100001022878
GA                     1,165.44            159,832.00              80.00      No MI                           100032100001020914
GA                       668.18            108,720.00              80.00      No MI                           100032100001021185
GA                       734.67            121,600.00              80.00      No MI                           100032100001019239
GA                       761.25            116,000.00              80.00      No MI                           100032100001021896
GA                     1,134.98            160,232.00              80.00      No MI                           100032100001029774
GA                       839.75            134,360.00              80.00      No MI                           100032100001020633
GA                     1,272.94            214,390.00              80.00      No MI                           100032100001011442
GA                       615.77            107,480.00              80.00      No MI                           100032100001023017
GA                     1,246.10            178,545.00              80.00      No MI                           100032100000619641
GA                       597.13            108,160.00              80.00      No MI                           100032100001019577
GA                       563.08             93,199.00              80.00      No MI                           100032100001012366
GA                       501.50             81,600.00              80.00      No MI                           100032100001021607
GA                       708.36            102,481.96              80.00      No MI                           100032100001024569
GA                       969.68            145,510.36              80.00      No MI                           100032100001017266
GA                     1,146.00            167,729.11              80.00      No MI                                                    0
GA                       763.61            102,640.82              80.00      No MI                           100032100001008588
GA                       792.07            114,504.94              80.00      No MI                           100032100001005386
GA                       785.19            127,760.00              80.00      No MI                           100032100001003068
GA                     1,373.99            211,657.61              80.00      No MI                           100032100001029782
GA                     1,002.82            150,608.45              80.00      No MI                           100032100001026192
GA                       950.37            137,495.30              80.00      No MI                           100032100001023629
GA                       936.75            140,800.00              80.00      No MI                           100032100001030095
GA                       689.23            116,080.00              80.00      No MI                           100032100001024874
GA                       844.09            120,630.41              80.00      No MI                           100032100001010402
GA                       918.78            137,872.94              79.98      No MI                           100032100001019726
GA                     1,222.81            186,140.00              80.00      No MI                           100032100001031598
GA                     1,233.66            171,956.14              80.00      No MI                           100032100001021680
GA                       683.54             95,208.67              80.00      No MI                           100032100001011541
GA                       454.50             80,800.00              80.00      No MI                           100032100001020138
FL                     1,387.20            195,848.15              80.00      No MI                           100032100001029139
GA                       353.27             44,375.11              80.00      No MI                           100032100001018041
WY                     1,768.13            255,805.20              80.00      No MI                           100183102000168121
CO                       775.00            120,000.00              30.15      No MI                           100183102000157421
CO                     5,195.83            860,000.00              80.00      No MI                           100183102000170952
AR                     1,188.23            182,558.58              80.00      No MI                           100140900000248153
CA                     1,987.03            353,250.00              65.00      No MI                           100086600111035400
CA                       984.38            175,000.00              12.80      No MI                           100086600111036457
CA                     1,593.05            242,296.27              43.30      No MI                           100086600210063311
CA                       995.63            176,999.25              62.11      No MI                           100086600111033314
FL                     1,304.30            236,250.00              75.00      No MI                           100086600206000095
CA                     5,307.19            999,000.00              64.45      No MI                           100086600111033397
FL                       503.75             78,000.00              80.00      No MI                           100366000000027173
TX                     1,090.50            150,296.50              80.00      No MI                           100366000000027223
CO                     1,570.26            213,856.41              69.99      No MI                           100366000000027017
NY                     2,066.67            320,000.00              80.00      No MI                           100366000000023941
TX                       917.37            131,102.63              80.00      No MI                           100404400000038671
IN                       580.17             84,000.00              80.00      No MI                           100404400000045528
TX                       876.42            135,009.66              80.00      No MI                           100404400000046716
TX                       719.01            110,760.56              80.00      No MI                           100404400000045338
IN                       677.20            106,575.00              70.00      No MI                                                    0
TX                       573.21             77,097.59              80.00      No MI                           100404400000037673
IA                       600.57             74,558.15              80.00      No MI                           100404400000029894
TX                     1,022.85            157,565.22              80.00      No MI                           100404400000046666
MS                       597.15            104,230.00              70.00      No MI                                                    0
TX                       816.71            114,000.00              80.00      No MI                           100404400000043549
IN                       563.59             81,600.00              80.00      No MI                           100404400000045536
GA                     1,174.15            170,000.00              80.00      No MI                           100229330000153548
GA                       997.50            152,000.00              80.00      No MI                           100229330000151732
FL                     1,254.82            168,889.45              65.00      No MI                           100229330000132914
GA                       996.67            138,922.99              80.00      No MI                           100229330000143101
GA                       743.69            101,283.99              80.00      No MI                           100229330000142863
GA                       389.29             54,960.19              68.32      No MI                           100229330000135412
GA                       858.00            124,800.00              80.00      No MI                           100229330000108096
AL                       422.53             50,225.28              75.00      No MI                           100229330000150296
GA                     1,200.42            169,477.25              80.00      No MI                           100229330000146518
GA                     1,177.92            205,600.00              80.00      No MI                           100229330000162994
SC                       839.06            119,821.32              73.62      No MI                           100229330000132062
TN                     1,819.25            306,400.00              80.00      No MI                           100229330000151708
GA                     2,447.25            349,740.25              71.72      No MI                           100229330000133771
GA                     1,429.84            209,436.49              80.00      No MI                           100229330000142392
GA                       542.50             84,000.00              80.00      No MI                           100229330000140784
GA                       636.60            111,116.00              80.00      No MI                           100229330000146476
AL                       728.93            110,960.00              80.00      No MI                           100229330000161285
FL                       965.25            129,914.96              65.00      No MI                           100229330000150973
GA                     3,546.35            619,000.00              29.20      No MI                           100229330000131114
SC                       462.23             63,705.86              70.83      No MI                           100229330000150452
GA                       446.92             58,270.42              70.00      No MI                           100229330000143580
GA                       982.40            142,895.00              79.99      No MI                           100229330000142137
TN                       995.67            164,800.00              80.00      No MI                           100229330000152425
NC                       826.67            124,000.00              80.00      No MI                           100229330000137442
GA                       644.77             89,872.55              52.94      No MI                                                    0
GA                     2,742.19            405,000.00              75.00      No MI                           100022933000158802
GA                     1,321.67            208,000.00              80.00      No MI                           100229330000150221
GA                     5,032.50            792,000.00              80.00      No MI                           100229330000121461
NC                     3,262.50            540,000.00              80.00      No MI                           100229330000149181
MI                       403.92             54,328.58              85.00      PMI                             100053630322055375
TX                       453.33             68,000.00              80.00      No MI                           100053630021070980
KS                       770.00            115,500.00              70.00      No MI                           100053620141000595
OR                     2,293.25            323,765.50              80.00      No MI                           100053630021070287
MO                       768.04            113,817.13              79.97      No MI                           100053620081020132
FL                     1,019.93            143,890.75              75.84      No MI                           100053630322056290
TX                     1,417.15            195,450.00              79.99      No MI                           100053620011097408
TX                     1,276.12            175,878.88              80.00      No MI                           100034910240600948
TX                       531.25             72,400.00              80.00      No MI                           100053630681014500
TX                       836.25            133,800.63              80.00      No MI                           100053630061069678
IL                       357.29             70,000.00              66.67      No MI                           100053630322051952
TX                       963.92            141,078.87              74.37      No MI                           100053630791007691
UT                       894.03            140,700.00              79.99      No MI                           100053630021072176
WA                     1,352.08            220,000.00              80.00      No MI                           100053620111007091
MS                       336.43             46,400.00              80.00      No MI                           100053630641005275
TN                       365.73             51,013.97              79.94      No MI                           100053630061091151
TX                     1,303.65            193,189.60              79.99      No MI                           100053620011092599
TX                       501.49             69,950.59              80.00      No MI                           100053620011097309
TX                       569.00             73,955.17              80.00      No MI                           100053620171001141
TX                       334.08             47,165.84              80.00      No MI                           100053620011085841
TX                       656.19             90,500.00              79.98      No MI                           100053620101013562
MO                       871.72            134,284.28              80.00      No MI                           100053620081021460
TX                       435.29             61,455.49              75.00      No MI                           100053620011087094
TX                       848.92            133,600.00              80.00      No MI                           100053630791015538
TX                     2,063.27            287,796.73              80.00      No MI                           100053620171002040
CA                     3,461.67            536,000.00              80.00      No MI                           100171906040018441
CA                     2,074.84            331,975.00              80.00      No MI                           100171906030015530
IL                     1,397.92            220,000.00              80.00      No MI                           100113200154721946
IL                       560.34             81,130.00              70.00      No MI                           100113200154428252
FL                       990.69            138,285.00              80.00      No MI                           100057400002815498
NV                     2,348.14            344,213.00              80.00      No MI                           100057400002834861
AZ                     2,068.51            310,657.15              80.00      No MI                           100057400002484717
NV                     1,695.44            258,352.00              80.00      No MI                           100057400002827980
NV                     1,595.64            225,438.00              80.00      No MI                           100057400002823922
FL                     1,199.66            171,444.67              80.00      No MI                           100057400002780130
NC                     1,422.33            219,292.00              80.00      No MI                           100057400002631655
IL                     1,831.29            255,620.00              80.00      No MI                           100057400002675439
TX                     1,155.07            162,955.02              80.00      No MI                           100057400002770149
CO                       852.88            123,390.03              80.00      No MI                           100057400002828731
FL                     2,142.53            285,188.00              80.00      No MI                           100057400002527358
AZ                     2,065.45            304,804.34              80.00      No MI                           100574000002398297
NV                     1,700.06            226,147.70              80.00      No MI                           100057400002783233
FL                     1,434.92            200,292.00              80.00      No MI                           100057400002835637
AZ                     2,274.46            317,479.00              80.00      No MI                           100057400002432625
TX                       677.06            104,298.12              80.00      No MI                           100057400002568402
FL                     2,722.33            345,644.37              80.00      No MI                           100057400002518605
IL                     2,614.57            364,952.00              80.00      No MI                           100057400002749986
MI                     1,271.72            177,386.71              80.00      No MI                           100057400002792457
VA                     5,283.11            719,516.89              80.00      No MI                           100057400002655472
IL                     1,876.94            281,540.00              80.00      No MI                           100057400002678029
FL                     1,162.09            192,345.00              80.00      No MI                           100057400002380436
CA                     1,998.56            292,968.00              80.00      No MI                           100057400003451591
FL                     1,541.86            202,856.00              80.00      No MI                           100057400002835124
NV                     1,349.30            195,211.35              80.00      No MI                           100057400002645648
FL                       999.07            137,789.00              80.00      No MI                           100057400002833251
NM                     1,590.49            267,872.00              80.00      No MI                           100057400002817064
PA                     1,203.20            180,850.00              79.99      No MI                           100057400002543157
UT                     1,604.67            265,600.00              80.00      No MI                           100124700070124064
CO                       457.50             59,463.96              80.00      No MI                           100124700070154129
CO                     2,475.22            353,737.28              78.67      No MI                           100124700070139443
UT                     1,724.90            211,887.18              80.00      No MI                           100124700070149103
CO                       586.57             78,948.33              68.70      No MI                           100124700070142199
UT                       944.21            146,200.00              80.00      No MI                           100124700070151562
CO                     1,633.42            228,000.00              80.00      No MI                           100124700070161496
UT                     1,600.00            240,000.00              80.00      No MI                           100124700070145622
TX                       619.82             92,000.00              80.00      No MI                           100124700070153469
UT                     1,398.43            199,851.57              80.00      No MI                           100124700070138585
UT                     1,483.02            214,556.61              80.00      No MI                           100124700070142124
CO                       501.12             70,748.75              73.75      No MI                           100124700070137223
UT                       855.84            122,309.16              80.00      No MI                           100124700070152289
CO                       933.33            160,000.00              80.00      No MI                           100124700070144468
CO                       549.20             67,500.00              71.05      No MI                           100124700070159474
UT                     1,372.06            223,250.00              95.00      PMI                             100124700070126077
UT                     1,814.46            238,614.51              80.00      No MI                           100124700070154939
NV                     2,633.76            385,780.82              80.00      No MI                           100125300029374735
NV                     1,214.17            188,000.00              80.00      No MI                           100137306060028540
NV                     1,499.50            239,920.00              80.00      No MI                           100137306050026710
NV                     1,085.00            168,000.00              80.00      No MI                           100137306050026603
NV                       966.00            201,600.00              80.00      No MI                           100137306060027435
NV                     1,338.75            204,000.00              80.00      No MI                           100137306050026785
MA                     3,875.00            620,000.00              51.67      No MI                           100094600000439804
IL                       859.75            144,800.00              80.00      No MI                           100094600000430001
CA                     4,332.45            650,666.22              68.55      No MI                           100094600000433799
MA                     2,457.46            346,948.71              80.00      No MI                           100094600000434250
CA                     3,675.80            551,133.41              56.96      No MI                           100094600000422628
CO                       781.72            111,800.00              78.84      No MI                                                    0
MI                       484.41             71,784.65              79.98      No MI                           100094600000428856
MA                     1,415.59            199,709.57              79.05      No MI                           100094600000434433
MA                     1,475.34            211,000.00              64.92      No MI                                                    0
VA                       466.42             70,940.35              69.27      No MI                           100094600000432981
CA                     1,575.00            252,000.00              60.29      No MI                           100063100076912559
ME                     1,342.49            191,857.51              80.00      No MI                           100196600000339522
ME                     1,327.11            176,537.36              78.86      No MI                           100196600000263789
NH                     1,598.72            207,794.05              80.00      No MI                           100196600000339118
AZ                     1,274.03            179,738.61              80.00      No MI                           100265600005048074
MO                       506.23             72,346.27              80.00      No MI                           100265600005044982
OK                       659.10             93,052.60              80.00      No MI                           100265600005035238
OH                       668.88             92,122.60              75.00      No MI                           100265600005025288
OK                       392.01             50,370.24              80.00      No MI                           100265600005028134
OK                       398.23             51,169.77              80.00      No MI                           100265600005026369
OH                       832.37            117,514.88              80.00      No MI                           100265600005032904
OK                       398.23             51,139.32              80.00      No MI                           100265600005031781
AZ                       698.50             97,431.19              65.00      No MI                           100265600005055129
AZ                     1,082.78            162,616.59              75.00      No MI                           100265600005043075
FL                       512.52             77,952.46              65.00      No MI                           100265600005021873
OK                       361.57             52,310.16              75.00      No MI                           100265600005036657
TX                       522.86             67,958.81              80.00      No MI                           100265600005017871
OK                       409.08             51,939.96              80.00      No MI                           100265600004258393
OK                       392.01             50,340.27              80.00      No MI                           100265600005028191
MI                     1,093.90            143,830.54              80.00      No MI                           100265600005050054
TX                       525.54             74,196.26              75.00      No MI                           100265600005049411
TX                       591.12             75,809.22              80.00      No MI                                                    0
TX                       509.61             71,947.89              75.00      No MI                           100026560000504942
TX                       385.04             54,321.01              80.00      No MI                           100265600005028167
TX                       648.99             93,820.56              78.98      No MI                           100265600005039321
TX                       690.68             88,694.76              80.00      No MI                           100265600005026443
AR                       700.17             87,950.66              80.00      No MI                           100265600005037267
TX                       390.70             55,119.84              80.00      No MI                           100265600005028142
TX                       383.08             50,337.12              80.00      No MI                           100265600005014928
FL                       660.76             94,359.30              67.99      No MI                           100265600005020347
TX                       657.01             93,824.10              78.98      No MI                           100265600005017814
TX                       828.12            119,808.77              74.98      No MI                           100031700003387608
UT                     1,916.07            287,287.65              80.00      No MI                           100031700003313604
TX                       631.06             83,946.44              70.00      No MI                           100031700003397045
FL                     1,347.98            197,445.85              80.00      No MI                           100031700003378367
UT                       322.86             44,000.00              80.00      No MI                           100031700003407109
FL                       773.80            103,000.00              80.00      No MI                           100031700003396922
TX                       406.04             55,922.67              80.00      No MI                           100031700003360654
FL                     1,547.45            215,847.55              80.00      No MI                           100031700003386410
TX                       881.25            121,437.61              80.00      No MI                           100031700003347462
FL                     1,080.84            176,430.36              64.89      No MI                           100031700003373178
UT                       713.22             97,134.78              80.00      No MI                           100031700003389836
TX                       933.89            128,711.36              80.00      No MI                           100031700003374622
FL                       796.27            112,418.57              77.59      No MI                           100031700003359003
FL                     1,130.21            175,000.00              57.00      No MI                                                    0
UT                       540.75             82,400.00              80.00      No MI                           100031700003368533
CO                     1,298.32            190,320.00              80.00      No MI                           100031700003407869
TX                     2,697.26            372,000.00              80.00      No MI                           100031700003411853
ID                       760.75            108,719.25              76.89      No MI                           100031700003384654
CO                     1,542.95            212,800.00              80.00      No MI                           100031700003398076
UT                       904.89            124,714.11              80.00      No MI                           100031700003394455
FL                     1,960.19            263,827.31              80.00      No MI                           100031700003366594
UT                       895.92            139,672.42              80.00      No MI                           100031700003365596
TX                     1,125.33            168,800.00              80.00      No MI                           100031700003382773
UT                       725.83            104,000.00              80.00      No MI                                                    0
TX                       581.73             81,142.69              80.00      No MI                           100031700003343510
CA                     2,990.91            412,216.12              75.00      No MI                           1000317-0000335720
TX                       675.06             91,876.13              80.00      No MI                           100031700003367170
OR                       623.44            105,000.00              46.67      No MI                           100031700003389217
UT                     1,011.15            146,400.00              80.00      No MI                           100031700003398225
FL                       925.57            118,929.74              79.33      No MI                           100031700003372501
FL                       886.39            120,637.34              80.00      No MI                           100031700003358591
FL                       466.38             65,007.82              70.00      No MI                           100031700003365802
TX                     2,416.10            336,772.41              95.00      Radian Guaranty                 100031700003352339
CO                     1,361.95            216,000.00              80.00      No MI                           100031700003385081
CO                     1,087.98            155,484.52              80.00      No MI                           100031700003373947
TX                     1,031.57            140,491.67              80.00      No MI                           100031700003368897
CO                     1,088.75            160,800.00              80.00      No MI                           100031700003372741
FL                       550.48             83,622.33              69.71      No MI                           100031700003378292
CA                     2,372.43            326,974.82              80.00      No MI                           100031700003377294
TX                       994.52            135,445.05              80.00      No MI                           100031700003370802
FL                       762.08            124,000.00              80.00      No MI                           100031700003378755
UT                     2,074.24            315,095.76              80.00      No MI                           100031700003387145
TX                     2,047.30            292,582.70              80.00      No MI                           100031700003380934
UT                     1,928.37            284,912.25              79.83      No MI                           100031700003398050
WA                     1,280.00            204,800.00              80.00      No MI                           100031700003373749
UT                       934.20            130,400.00              80.00      No MI                           100031700003403751
TX                       685.26            102,830.65              80.00      No MI                           100031700003334121
CA                     9,944.93          1,421,244.45              75.00      No MI                           100031700003381536
FL                       399.17             54,363.50              80.00      No MI                           100031700003384910
TX                       672.03             99,670.24              75.00      No MI                           100031700003387715
CO                     2,005.95            279,802.38              84.85      PMI                             100031700003393200
TX                       837.66            116,842.48              75.00      No MI                           100031700003376718
CA                     3,672.52            629,575.00              57.27      No MI                           100031700003340037
FL                       956.30            150,500.00              70.00      No MI                           100031700003381791
CA                     2,245.08            309,636.00              80.00      No MI                           100047132260500826
NC                     1,456.29            210,689.56              80.00      No MI                           100047132160300285
TX                     1,165.50            177,600.00              80.00      No MI                           100047152206013551
MI                       563.54             76,748.46              80.00      No MI                           100032410680837425
IL                     2,655.47            332,995.25              75.00      No MI                           100032435060001045
MI                     1,051.09            159,320.14              80.00      No MI                           100032410600427208
OH                       783.08            107,925.67              80.00      No MI                           100032410614000348
MI                       472.99             71,631.81              72.00      No MI                           100032410500425427
NV                     1,007.50            186,000.00              60.78      No MI                           100163177000742947
OH                       956.49            145,477.68              80.00      No MI                           100185100605150054
CA                     1,826.09            302,250.00              60.45      No MI                           100079600600601349
CA                     2,275.00            312,000.00              80.00      No MI                           100079600710600470
VA                     1,450.00            232,000.00              80.00      No MI                           100078200000207259
MD                     2,777.08            430,000.00              80.00      No MI                           100078200000208562
MD                       440.59             61,456.60              75.00      No MI                           100078200000210154
VA                       870.66            128,590.00              70.00      No MI                           100078200000211855
VA                       602.38             86,021.72              74.98      No MI                           100078200000206459
GA                     3,722.74            539,000.00              70.00      No MI                           100078200000211707
VA                     2,447.25            349,740.25              75.27      No MI                           100078200000208182
CT                     1,538.45            206,513.06              80.00      No MI                           100190821121069477
GA                       567.95             84,096.55              65.39      No MI                           100135813100120064
ME                       484.61             61,600.00              80.00      No MI                           100135811060007834
GA                     1,192.42            215,985.00              80.00      No MI                           100190822360081249
GA                       599.67             89,950.00              74.96      No MI                           100135813080044565
MI                       818.44            133,597.26              45.00      No MI                           100194924106032134
NV                     1,855.82            318,140.00              80.00      No MI                           100194924106031383
NV                     1,711.58            279,301.30              73.55      No MI                           100194924106032126
NV                     1,678.11            239,821.89              60.00      No MI                           100194924106029593
ID                     1,528.07            223,825.26              80.00      No MI                           100194924106030856
AZ                       971.25            148,000.00              80.00      No MI                           100194972106030798
MI                       476.13             64,083.05              75.00      No MI                           100173250010074797
MI                       612.56             82,500.00              75.00      No MI                           100173250010073427
TX                       928.63            131,200.00              80.00      No MI                           100173250010077097
TX                       928.63            131,200.00              80.00      No MI                           100173250010077113
NE                       558.91             73,500.00              70.00      No MI                           100173250020077947
CA                     1,604.90            248,500.00              70.00      No MI                           100173250010073708
AZ                     1,000.50            165,600.00              80.00      No MI                           100070706050091110
AZ                     1,085.00            168,000.00              80.00      No MI                           100070706050091235
AZ                       918.33            152,000.00              80.00      No MI                           100070706050091573
AZ                     1,529.39            240,691.00              80.00      No MI                           100070706060092561
AZ                     1,574.74            226,942.93              80.00      No MI                           100070705120075871
AZ                     1,576.42            260,924.00              80.00      No MI                           100070706050090674
AZ                       873.01            126,303.82              80.00      No MI                           100070706050091458
IL                       882.00            151,200.00              80.00      No MI                           100034683320101075
NC                       708.76            105,200.00              80.00      No MI                           100065500000250331
TN                       740.00            142,080.00              80.00      No MI                           100065500000245075
TX                       422.66             56,224.13              80.00      No MI                           100307100000158887
TX                       726.73            101,368.40              80.00      No MI                           100307100000155461
TX                     1,512.69            187,897.31              80.00      No MI                           100307100000156428
TX                       367.76             56,651.18              70.00      No MI                           100307100000151130
TX                       479.02             71,761.85              80.00      No MI                           100307100000014676
OH                       572.89             71,161.11              80.00      No MI                                                    0
SC                       541.04             67,961.88              80.00      No MI                           100085600023777371
GA                     1,989.60            274,211.15              80.00      No MI                           100085600023800959
GA                       761.19            115,991.00              80.00      No MI                           100085600023089637
GA                       788.30            108,720.00              80.00      No MI                           100085600023835948
GA                     3,533.85            575,000.00              74.19      No MI                           100085600023909537
MI                       444.75             59,124.24              80.00      No MI                           100063700002735592
MI                       353.63             51,161.04              80.00      No MI                           100063700002735626
MI                       430.95             65,433.71              80.00      No MI                           100063700002732029
GA                       806.71            116,711.12              79.46      No MI                           100063700002736871
MI                       699.93             97,631.05              78.47      No MI                           100063700002736020
MI                       442.89             57,565.11              80.00      No MI                           100063700002735378
MN                       932.52            131,654.64              85.00      United Guaranty                 100063700002722673
CA                     2,519.38            417,000.00              78.68      No MI                           100040700106005445
WA                     1,245.17            192,800.00              80.00      No MI                           100040700606000722
CA                     1,528.83            215,368.69              80.00      No MI                           100040700100600120
PA                       950.23            135,799.15              79.99      No MI                           100076500000922563
DE                       501.89             68,354.11              80.00      No MI                           100076500001003090
PA                     1,672.52            239,022.48              80.00      No MI                                                    0
NJ                       939.32            135,896.51              80.00      No MI                           100076500000995510
PA                     1,479.49            219,600.00              80.00      No MI                           100076500000192555
PA                       884.77            123,236.81              95.00      Republic MIC                    100076500000934147
NJ                       712.47            103,632.00              80.00      No MI                           100076500001013370
NJ                       872.62            124,707.38              80.00      No MI                           100076500001005517
NJ                     1,161.26            165,956.74              80.00      No MI                           100076500001002167
PA                     2,463.12            347,494.66              79.09      No MI                           100076500000995395
NJ                     1,390.39            191,495.21              80.00      No MI                           100076500000199154
PA                     1,138.00            156,841.98              79.99      No MI                           100076500000935615
PA                     3,072.16            456,000.00              80.00      No MI                           100076500000844676
NJ                     1,713.63            251,004.04              80.00      No MI                           100076500001002159
NJ                       727.23             96,738.27              80.00      No MI                           100076500000191342
PA                     1,140.78            163,030.92              80.00      No MI                           100076500001008313
PA                     2,091.53            278,400.00              80.00      No MI                           100076500001026240
DE                       764.42            107,921.83              72.00      No MI                           100076500001201421
NJ                     1,025.00            164,000.00              80.00      No MI                           100076500001013198
DE                     1,538.27            219,836.73              80.00      No MI                           100076500001009774
PA                       917.01            127,909.66              80.00      No MI                           100076500001005277
IN                       524.91             75,942.17              80.00      No MI                           100209500100298450
FL                       768.14             99,838.48              79.98      No MI                           100209500100298625
CO                       823.58            108,288.65              80.00      No MI                           100198400011077049
WI                       816.00            109,828.11              70.00      No MI                           100272406051004594
WI                       389.25             52,390.71              75.00      No MI                           100272406051004271
WI                       765.85            105,552.31              65.00      No MI                           100272406052610431
MN                       424.84             52,742.10              80.00      No MI                           100272406041795871
WI                       628.65             87,688.07              65.00      No MI                           100272406050201845
MN                       820.12            107,900.00              79.99      No MI                           100272406060712831
IA                       522.35             73,800.00              80.00      No MI                           100293000154014256
VA                     1,930.49            260,000.00              79.83      No MI                           100293000153834092
MD                     1,102.11            152,000.00              80.00      No MI                           100293000154950624
GA                     1,141.00            155,500.00              79.34      No MI                           100293000153439165
IL                       841.42            112,000.00              80.00      No MI                           100293000154440527
VA                       438.15             70,104.00              80.00      No MI                           100293000153784669
FL                       963.49            139,500.00              75.00      No MI                           100293000000636641
VA                       358.56             50,050.00              65.00      No MI                           100289400000043242
NJ                     6,486.70            974,200.80              60.00      No MI                           100212001000233841
NJ                     6,599.80            991,186.87              62.59      No MI                           100212001000215095
NJ                     6,378.59            958,750.00              65.00      No MI                           100212001000233858
TX                       669.79             87,055.22              80.00      No MI                           100034683335101763
MI                       813.27            113,359.24              80.00      No MI                           100034683320100085
CA                     2,435.83            359,888.79              80.00      No MI                           100034600005073213
CA                     1,334.13            183,873.37              80.00      No MI                           100034600005071258
CO                       673.28            114,899.00              58.97      No MI                           100034683320101877
MA                     2,146.21            296,000.00              80.00      No MI                           100102373590157018
TX                       545.20             79,857.65              80.00      No MI                           100034683335102191
MA                       985.39            150,000.00              57.69      No MI                           100102373590158610
TX                       576.70             85,600.00              80.00      No MI                           100034683335102886
VA                     1,867.50            332,000.00              80.00      No MI                           100102373590156044
NH                       598.77             89,926.23              45.00      No MI                           100102373590157042
MA                     1,132.47            159,884.20              80.00      No MI                           100102373590157208
RI                     1,917.23            254,873.42              80.00      No MI                           100102373590156788
IL                     1,163.75            196,000.00              80.00      No MI                           100092047103070395
AZ                     1,834.00            314,400.00              80.00      No MI                           100092047101763546
WA                     2,212.54            336,800.00              80.00      No MI                           100092047100557857
MA                       854.01            130,000.00              43.33      No MI                           100092047101687398
MO                       497.94             61,167.44              80.00      No MI                           100031231707426815
WI                       681.98             90,930.00              70.00      No MI                           100031205407429634
GA                       646.10             95,169.45              70.00      No MI                           100031205407393673
MO                       893.48            116,200.00              70.00      No MI                           100031231707518223
MO                       893.48            116,200.00              70.00      No MI                           100031231707518306
MI                       449.78             58,424.89              70.00      No MI                           100031205707412330
WI                       729.31             94,792.54              70.00      No MI                           100031205407504360
OH                       545.42             77,000.00              70.00      No MI                           100031230707472613
FL                       652.56             89,875.73              78.95      No MI                           100031204607430575
WI                       555.98             74,130.00              70.00      No MI                           100031205407429535
MO                       849.42            114,325.16              80.00      No MI                           100031230107445763
AZ                     1,141.98            157,391.61              75.00      No MI                           100031230707380816
NH                       823.28            104,589.79              70.00      No MI                           100031204107385200
WI                       446.74             58,064.80              70.00      No MI                           100031205407481759
MO                       888.10            115,500.00              70.00      No MI                           100031231707518066
AZ                       934.38            149,500.00              65.00      No MI                           100420200000124392
AZ                     2,320.22            319,779.78              80.00      No MI                           100420200000126579
VA                     1,672.98            227,693.02              80.00      No MI                           100126300000149279
VA                       558.54             70,081.06              90.00      PMI                             100126300000144015
TX                     1,560.35            215,051.90              80.00      No MI                           100075900496007435
TX                       649.98             77,261.98              79.69      No MI                           100075900356001726
TX                       861.41            124,625.10              80.00      No MI                           100075900126019008
TX                       629.04             84,720.00              80.00      No MI                           100075900246011216
CO                       861.76            117,443.00              80.00      No MI                           100075900476004790
TX                       589.67             92,800.00              80.00      No MI                           100075900246011315
TX                       732.94            111,686.00              80.00      No MI                           100075900126011245
TX                     1,442.89            198,863.05              79.60      No MI                           100075900496004507
TX                       987.79            144,687.04              80.00      No MI                           100075900156001264
TX                     1,624.53            229,353.88              80.00      No MI                           100075900496006700
TX                       384.31             55,900.00              65.00      No MI                           100075900336002059
TX                       851.38            129,491.12              80.00      No MI                           100075900496008201
TX                       386.38             50,219.56              67.00      No MI                           100075900496006809
TX                       784.01            100,800.00              80.00      No MI                           100075900496010181
TX                       733.83            113,625.00              75.00      No MI                           100075900126019735

STATE            MARGIN           NEXT_RATE_              MAX_          MIN_           PER_RATE            GROUP_ID
                                  ADJ_DATE1               RATE          RATE           _CAP
--------------------------------------------------------------------------------------------------------------------------
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
DC                                                                                                         GROUP I
MD                                                                                                         GROUP I
GA                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
PA                                                                                                         GROUP I
GA                                                                                                         GROUP I
PA                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
GA                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
DE                                                                                                         GROUP I
DE                                                                                                         GROUP I
MD                                                                                                         GROUP I
DE                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
UT                                                                                                         GROUP I
ID                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
MS                                                                                                         GROUP I
NY                                                                                                         GROUP I
FL                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NY                                                                                                         GROUP I
GA                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
MD                                                                                                         GROUP I
FL                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
NC                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
FL                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
FL                                                                                                         GROUP I
NC                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
WA                                                                                                         GROUP I
OH                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
OR                                                                                                         GROUP I
TX                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
NM                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
FL                                                                                                         GROUP I
CO                                                                                                         GROUP I
FL                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
FL                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
AL                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
TN                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
TN                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
LA                                                                                                         GROUP I
TN                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
CA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NY                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NY                                                                                                         GROUP I
FL                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
AR                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
IL                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
SC                                                                                                         GROUP I
CO                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
IN                                                                                                         GROUP I
MO                                                                                                         GROUP I
AZ                                                                                                         GROUP I
FL                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NY                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
VA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
AZ                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
WA                                                                                                         GROUP I
TX                                                                                                         GROUP I
NC                                                                                                         GROUP I
IN                                                                                                         GROUP I
NC                                                                                                         GROUP I
CO                                                                                                         GROUP I
AZ                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
MN                                                                                                         GROUP I
MN                                                                                                         GROUP I
TX                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
GA                                                                                                         GROUP I
IL                                                                                                         GROUP I
IL                                                                                                         GROUP I
NJ                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
CA                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
MD                                                                                                         GROUP I
MI                                                                                                         GROUP I
KY                                                                                                         GROUP I
OH                                                                                                         GROUP I
NV                                                                                                         GROUP I
WA                                                                                                         GROUP I
FL                                                                                                         GROUP I
MD                                                                                                         GROUP I
GA                                                                                                         GROUP I
OR                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
AZ                                                                                                         GROUP I
MD                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
ID                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
PA                                                                                                         GROUP I
CA                                                                                                         GROUP I
KY                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
AR                                                                                                         GROUP I
AR                                                                                                         GROUP I
OR                                                                                                         GROUP I
MD                                                                                                         GROUP I
ID                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
ID                                                                                                         GROUP I
VA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
CA                                                                                                         GROUP I
VA                                                                                                         GROUP I
OR                                                                                                         GROUP I
OR                                                                                                         GROUP I
OR                                                                                                         GROUP I
ID                                                                                                         GROUP I
TX                                                                                                         GROUP I
PA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
KY                                                                                                         GROUP I
FL                                                                                                         GROUP I
MD                                                                                                         GROUP I
OH                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
KY                                                                                                         GROUP I
IN                                                                                                         GROUP I
KY                                                                                                         GROUP I
OH                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
OH                                                                                                         GROUP I
KY                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
TN                                                                                                         GROUP I
OH                                                                                                         GROUP I
KY                                                                                                         GROUP I
IN                                                                                                         GROUP I
KY                                                                                                         GROUP I
HI                                                                                                         GROUP I
HI                                                                                                         GROUP I
CO                                                                                                         GROUP I
FL                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
IL                                                                                                         GROUP I
WY                                                                                                         GROUP I
FL                                                                                                         GROUP I
DC                                                                                                         GROUP I
VA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
ME                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
DE                                                                                                         GROUP I
ID                                                                                                         GROUP I
TX                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
SC                                                                                                         GROUP I
NC                                                                                                         GROUP I
MN                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
AZ                                                                                                         GROUP I
FL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
KS                                                                                                         GROUP I
AZ                                                                                                         GROUP I
MO                                                                                                         GROUP I
TX                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
MO                                                                                                         GROUP I
TX                                                                                                         GROUP I
MO                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
NC                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
NC                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
NM                                                                                                         GROUP I
CO                                                                                                         GROUP I
VA                                                                                                         GROUP I
OH                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
OH                                                                                                         GROUP I
FL                                                                                                         GROUP I
OH                                                                                                         GROUP I
FL                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
TN                                                                                                         GROUP I
RI                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
CT                                                                                                         GROUP I
RI                                                                                                         GROUP I
NJ                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
OK                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
NC                                                                                                         GROUP I
DC                                                                                                         GROUP I
NC                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
NC                                                                                                         GROUP I
MD                                                                                                         GROUP I
ME                                                                                                         GROUP I
MA                                                                                                         GROUP I
RI                                                                                                         GROUP I
MD                                                                                                         GROUP I
CA                                                                                                         GROUP I
CT                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
SC                                                                                                         GROUP I
AL                                                                                                         GROUP I
VA                                                                                                         GROUP I
FL                                                                                                         GROUP I
MD                                                                                                         GROUP I
NJ                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
NC                                                                                                         GROUP I
FL                                                                                                         GROUP I
MD                                                                                                         GROUP I
WA                                                                                                         GROUP I
WA                                                                                                         GROUP I
KS                                                                                                         GROUP I
IN                                                                                                         GROUP I
WA                                                                                                         GROUP I
TX                                                                                                         GROUP I
IL                                                                                                         GROUP I
CA                                                                                                         GROUP I
IL                                                                                                         GROUP I
NY                                                                                                         GROUP I
PA                                                                                                         GROUP I
CA                                                                                                         GROUP I
MI                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
NM                                                                                                         GROUP I
FL                                                                                                         GROUP I
PA                                                                                                         GROUP I
NV                                                                                                         GROUP I
AZ                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
MD                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
NY                                                                                                         GROUP I
UT                                                                                                         GROUP I
OR                                                                                                         GROUP I
ID                                                                                                         GROUP I
WA                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
WA                                                                                                         GROUP I
OH                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
CO                                                                                                         GROUP I
MD                                                                                                         GROUP I
CA                                                                                                         GROUP I
IA                                                                                                         GROUP I
SC                                                                                                         GROUP I
MD                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
WA                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
NV                                                                                                         GROUP I
CO                                                                                                         GROUP I
NV                                                                                                         GROUP I
UT                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NY                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
FL                                                                                                         GROUP I
MO                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
OH                                                                                                         GROUP I
IN                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
OH                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
IN                                                                                                         GROUP I
MI                                                                                                         GROUP I
IN                                                                                                         GROUP I
IN                                                                                                         GROUP I
IN                                                                                                         GROUP I
IN                                                                                                         GROUP I
OH                                                                                                         GROUP I
UT                                                                                                         GROUP I
UT                                                                                                         GROUP I
MN                                                                                                         GROUP I
MN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
OR                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
WI                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
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ID                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
WA                                                                                                         GROUP I
TX                                                                                                         GROUP I
WA                                                                                                         GROUP I
CO                                                                                                         GROUP I
IN                                                                                                         GROUP I
GA                                                                                                         GROUP I
MN                                                                                                         GROUP I
MN                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
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TX                                                                                                         GROUP I
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TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
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NC                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
VA                                                                                                         GROUP I
FL                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
CA                                                                                                         GROUP I
MA                                                                                                         GROUP I
VA                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
LA                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
IL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
SC                                                                                                         GROUP I
IL                                                                                                         GROUP I
MD                                                                                                         GROUP I
GA                                                                                                         GROUP I
MD                                                                                                         GROUP I
AL                                                                                                         GROUP I
FL                                                                                                         GROUP I
AL                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
MS                                                                                                         GROUP I
MD                                                                                                         GROUP I
AL                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
WI                                                                                                         GROUP I
MI                                                                                                         GROUP I
MA                                                                                                         GROUP I
FL                                                                                                         GROUP I
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CA                                                                                                         GROUP I
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NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
CO                                                                                                         GROUP I
CT                                                                                                         GROUP I
MA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
OH                                                                                                         GROUP I
TX                                                                                                         GROUP I
HI                                                                                                         GROUP I
AZ                                                                                                         GROUP I
IL                                                                                                         GROUP I
OH                                                                                                         GROUP I
AZ                                                                                                         GROUP I
FL                                                                                                         GROUP I
LA                                                                                                         GROUP I
OH                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
WI                                                                                                         GROUP I
NV                                                                                                         GROUP I
WA                                                                                                         GROUP I
TX                                                                                                         GROUP I
OH                                                                                                         GROUP I
NC                                                                                                         GROUP I
LA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
AL                                                                                                         GROUP I
NC                                                                                                         GROUP I
TX                                                                                                         GROUP I
AL                                                                                                         GROUP I
NC                                                                                                         GROUP I
AL                                                                                                         GROUP I
TX                                                                                                         GROUP I
AL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
OH                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
OH                                                                                                         GROUP I
OH                                                                                                         GROUP I
OH                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
MD                                                                                                         GROUP I
NJ                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
OH                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
MA                                                                                                         GROUP I
FL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
WY                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
AR                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
NY                                                                                                         GROUP I
TX                                                                                                         GROUP I
IN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
IN                                                                                                         GROUP I
TX                                                                                                         GROUP I
IA                                                                                                         GROUP I
TX                                                                                                         GROUP I
MS                                                                                                         GROUP I
TX                                                                                                         GROUP I
IN                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
AL                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
TN                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
AL                                                                                                         GROUP I
FL                                                                                                         GROUP I
GA                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
TN                                                                                                         GROUP I
NC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
NC                                                                                                         GROUP I
MI                                                                                                         GROUP I
TX                                                                                                         GROUP I
KS                                                                                                         GROUP I
OR                                                                                                         GROUP I
MO                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
IL                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
WA                                                                                                         GROUP I
MS                                                                                                         GROUP I
TN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
MO                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
IL                                                                                                         GROUP I
IL                                                                                                         GROUP I
FL                                                                                                         GROUP I
NV                                                                                                         GROUP I
AZ                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
FL                                                                                                         GROUP I
NC                                                                                                         GROUP I
IL                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
FL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
NV                                                                                                         GROUP I
FL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
IL                                                                                                         GROUP I
MI                                                                                                         GROUP I
VA                                                                                                         GROUP I
IL                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
NV                                                                                                         GROUP I
FL                                                                                                         GROUP I
NM                                                                                                         GROUP I
PA                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
UT                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
MA                                                                                                         GROUP I
IL                                                                                                         GROUP I
CA                                                                                                         GROUP I
MA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CO                                                                                                         GROUP I
MI                                                                                                         GROUP I
MA                                                                                                         GROUP I
MA                                                                                                         GROUP I
VA                                                                                                         GROUP I
CA                                                                                                         GROUP I
ME                                                                                                         GROUP I
ME                                                                                                         GROUP I
NH                                                                                                         GROUP I
AZ                                                                                                         GROUP I
MO                                                                                                         GROUP I
OK                                                                                                         GROUP I
OH                                                                                                         GROUP I
OK                                                                                                         GROUP I
OK                                                                                                         GROUP I
OH                                                                                                         GROUP I
OK                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
FL                                                                                                         GROUP I
OK                                                                                                         GROUP I
TX                                                                                                         GROUP I
OK                                                                                                         GROUP I
OK                                                                                                         GROUP I
MI                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
AR                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
UT                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
UT                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
ID                                                                                                         GROUP I
CO                                                                                                         GROUP I
UT                                                                                                         GROUP I
FL                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
OR                                                                                                         GROUP I
UT                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
TX                                                                                                         GROUP I
FL                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
UT                                                                                                         GROUP I
WA                                                                                                         GROUP I
UT                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
CA                                                                                                         GROUP I
FL                                                                                                         GROUP I
CA                                                                                                         GROUP I
NC                                                                                                         GROUP I
TX                                                                                                         GROUP I
MI                                                                                                         GROUP I
IL                                                                                                         GROUP I
MI                                                                                                         GROUP I
OH                                                                                                         GROUP I
MI                                                                                                         GROUP I
NV                                                                                                         GROUP I
OH                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
MD                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
GA                                                                                                         GROUP I
VA                                                                                                         GROUP I
CT                                                                                                         GROUP I
GA                                                                                                         GROUP I
ME                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
MI                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
NV                                                                                                         GROUP I
ID                                                                                                         GROUP I
AZ                                                                                                         GROUP I
MI                                                                                                         GROUP I
MI                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
NE                                                                                                         GROUP I
CA                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
IL                                                                                                         GROUP I
NC                                                                                                         GROUP I
TN                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
OH                                                                                                         GROUP I
SC                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
GA                                                                                                         GROUP I
MI                                                                                                         GROUP I
MI                                                                                                         GROUP I
MI                                                                                                         GROUP I
GA                                                                                                         GROUP I
MI                                                                                                         GROUP I
MI                                                                                                         GROUP I
MN                                                                                                         GROUP I
CA                                                                                                         GROUP I
WA                                                                                                         GROUP I
CA                                                                                                         GROUP I
PA                                                                                                         GROUP I
DE                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
PA                                                                                                         GROUP I
PA                                                                                                         GROUP I
DE                                                                                                         GROUP I
NJ                                                                                                         GROUP I
DE                                                                                                         GROUP I
PA                                                                                                         GROUP I
IN                                                                                                         GROUP I
FL                                                                                                         GROUP I
CO                                                                                                         GROUP I
WI                                                                                                         GROUP I
WI                                                                                                         GROUP I
WI                                                                                                         GROUP I
MN                                                                                                         GROUP I
WI                                                                                                         GROUP I
MN                                                                                                         GROUP I
IA                                                                                                         GROUP I
VA                                                                                                         GROUP I
MD                                                                                                         GROUP I
GA                                                                                                         GROUP I
IL                                                                                                         GROUP I
VA                                                                                                         GROUP I
FL                                                                                                         GROUP I
VA                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
NJ                                                                                                         GROUP I
TX                                                                                                         GROUP I
MI                                                                                                         GROUP I
CA                                                                                                         GROUP I
CA                                                                                                         GROUP I
CO                                                                                                         GROUP I
MA                                                                                                         GROUP I
TX                                                                                                         GROUP I
MA                                                                                                         GROUP I
TX                                                                                                         GROUP I
VA                                                                                                         GROUP I
NH                                                                                                         GROUP I
MA                                                                                                         GROUP I
RI                                                                                                         GROUP I
IL                                                                                                         GROUP I
AZ                                                                                                         GROUP I
WA                                                                                                         GROUP I
MA                                                                                                         GROUP I
MO                                                                                                         GROUP I
WI                                                                                                         GROUP I
GA                                                                                                         GROUP I
MO                                                                                                         GROUP I
MO                                                                                                         GROUP I
MI                                                                                                         GROUP I
WI                                                                                                         GROUP I
OH                                                                                                         GROUP I
FL                                                                                                         GROUP I
WI                                                                                                         GROUP I
MO                                                                                                         GROUP I
AZ                                                                                                         GROUP I
NH                                                                                                         GROUP I
WI                                                                                                         GROUP I
MO                                                                                                         GROUP I
AZ                                                                                                         GROUP I
AZ                                                                                                         GROUP I
VA                                                                                                         GROUP I
VA                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
CO                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
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TX                                                                                                         GROUP I
TX                                                                                                         GROUP I
TX                                                                                                         GROUP I

STATE            HYBRID_           LIEN                 PP_DESC            IO_FLAG          IO_              PORTFOLIO
                 TERM                                                                       PERIOD
------------------------------------------------------------------------------------------------------------------------------
VA                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
DC                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
PA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           3Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
DE                                 First Lien           NO PP              Y                        120      EMC
DE                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
DE                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
ID                                 First Lien           3Y PP              N                          0      EMC
NY                                 First Lien           1Y PP              Y                        120      EMC
NY                                 First Lien           1Y PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
MS                                 First Lien           2Y PP              N                          0      EMC
NY                                 First Lien           1Y PP              N                          0      EMC
FL                                 First Lien           1Y PP              Y                        120      EMC
NY                                 First Lien           1Y PP              N                          0      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           1Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           1Y PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           1Y PP              N                          0      EMC
NY                                 First Lien           1Y PP              Y                        120      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           1Y PP              N                          0      EMC
FL                                 First Lien           1Y PP              Y                        120      EMC
NC                                 First Lien           1Y PP              N                          0      EMC
PA                                 First Lien           1Y PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           1Y PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
NC                                 First Lien           1Y PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           1Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           1Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
WA                                 First Lien           1Y PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           1Y PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           1Y PP              Y                        120      EMC
OR                                 First Lien           1Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
NM                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
AL                                 First Lien           NO PP              Y                        120      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
LA                                 First Lien           NO PP              Y                        120      EMC
TN                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
GA                                 First Lien           1Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           1Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           1Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           1Y PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           3Y PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
AR                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              Y                         60      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                         60      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
SC                                 First Lien           1Y PP              N                          0      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                         60      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
IN                                 First Lien           3Y PP              N                          0      EMC
MO                                 First Lien           2Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           1Y PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
WA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
MN                                 First Lien           NO PP              Y                        120      EMC
MN                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           6M PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           3Y PP              N                          0      EMC
KY                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
WA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
OR                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           6M PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
ID                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
AR                                 First Lien           NO PP              N                          0      EMC
AR                                 First Lien           NO PP              N                          0      EMC
OR                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
ID                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
ID                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
OR                                 First Lien           NO PP              N                          0      EMC
OR                                 First Lien           1Y PP              Y                        120      EMC
OR                                 First Lien           NO PP              N                          0      EMC
ID                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
TN                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
KY                                 First Lien           NO PP              N                          0      EMC
HI                                 First Lien           NO PP              Y                         60      EMC
HI                                 First Lien           5M PP              Y                         60      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
WY                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
DC                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
ME                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
DE                                 First Lien           3Y PP              N                          0      EMC
ID                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
MN                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
AZ                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
KS                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
MO                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
MO                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
NM                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           2Y PP              Y                        120      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              Y                        120      EMC
RI                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           1Y PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
PA                                 First Lien           NO PP              N                          0      EMC
CT                                 First Lien           NO PP              N                          0      EMC
RI                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
OK                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
OK                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           3Y PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              N                          0      EMC
DC                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
ME                                 First Lien           6M PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
RI                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CT                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
SC                                 First Lien           3Y PP              Y                        120      EMC
AL                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           3Y PP              Y                        120      EMC
NC                                 First Lien           3Y PP              Y                        120      EMC
NC                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
WA                                 First Lien           3Y PP              Y                        120      EMC
WA                                 First Lien           NO PP              N                          0      EMC
KS                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           3Y PP              Y                        120      EMC
WA                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
PA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
NM                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
PA                                 First Lien           3Y PP              Y                        120      EMC
NV                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           1Y PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           5Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
NY                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
OR                                 First Lien           5M PP              N                          0      EMC
ID                                 First Lien           3Y PP              Y                        120      EMC
WA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
WA                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
IA                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
WA                                 First Lien           6M PP              N                          0      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
SC                                 First Lien           NO PP              Y                        120      EMC
SC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
FL                                 First Lien           1Y PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           1Y PP              N                          0      EMC
SC                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
MO                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
MN                                 First Lien           3Y PP              Y                        120      EMC
MN                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           6M PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TN                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           6M PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           6M PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
OR                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
ID                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
WA                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
WA                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
IN                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           1Y PP              Y                        120      EMC
MN                                 First Lien           NO PP              N                          0      EMC
MN                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
NM                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           1Y PP              Y                        120      EMC
MA                                 First Lien           3Y PP              Y                        120      EMC
VA                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                         60      EMC
TX                                 First Lien           NO PP              Y                         60      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
LA                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
CO                                 First Lien           3Y PP              Y                         60      EMC
SC                                 First Lien           NO PP              Y                         60      EMC
IL                                 First Lien           NO PP              Y                         60      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
AL                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
MS                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
AL                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
WI                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           6M PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           1Y PP              Y                        120      EMC
NV                                 First Lien           1Y PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
CT                                 First Lien           3Y PP              Y                        120      EMC
MA                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
HI                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
LA                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
WA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
LA                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
AL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           6M PP              N                          0      EMC
MA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           6M PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
SC                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
WY                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
AR                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           1Y PP              N                          0      EMC
NY                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
IN                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
IA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
MS                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
SC                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
AL                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
SC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
TN                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
KS                                 First Lien           NO PP              Y                        120      EMC
OR                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
WA                                 First Lien           NO PP              Y                        120      EMC
MS                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           7M PP              Y                        120      EMC
CA                                 First Lien           7M PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
NM                                 First Lien           NO PP              Y                        120      EMC
PA                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           3Y PP              N                          0      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
MA                                 First Lien           NO PP              Y                        120      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
ME                                 First Lien           1Y PP              N                          0      EMC
ME                                 First Lien           1Y PP              N                          0      EMC
NH                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           3Y PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
OK                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
OK                                 First Lien           3Y PP              N                          0      EMC
OK                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
AR                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
UT                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           NO PP              Y                        120      EMC
CO                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
ID                                 First Lien           6M PP              N                          0      EMC
CO                                 First Lien           6M PP              N                          0      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
UT                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           6M PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
OR                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           6M PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           6M PP              N                          0      EMC
CO                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CA                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
UT                                 First Lien           6M PP              N                          0      EMC
WA                                 First Lien           3Y PP              Y                        120      EMC
UT                                 First Lien           6M PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           NO PP              N                          0      EMC
NC                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           5Y PP              Y                        120      EMC
OH                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
CA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              Y                        120      EMC
MD                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
VA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
CT                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           6M PP              N                          0      EMC
ME                                 First Lien           3Y PP              N                          0      EMC
GA                                 First Lien           3Y PP              Y                        120      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              Y                        120      EMC
NV                                 First Lien           NO PP              N                          0      EMC
NV                                 First Lien           NO PP              N                          0      EMC
ID                                 First Lien           NO PP              N                          0      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
MI                                 First Lien           3Y PP              N                          0      EMC
MI                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
NE                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           6M PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           6M PP              Y                        120      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
NC                                 First Lien           NO PP              N                          0      EMC
TN                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           3Y PP              N                          0      EMC
SC                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              Y                        120      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
MN                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           3Y PP              Y                        120      EMC
WA                                 First Lien           3Y PP              Y                        120      EMC
CA                                 First Lien           3Y PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
DE                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
DE                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              Y                        120      EMC
DE                                 First Lien           NO PP              N                          0      EMC
PA                                 First Lien           NO PP              N                          0      EMC
IN                                 First Lien           3Y PP              N                          0      EMC
FL                                 First Lien           3Y PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           6M PP              N                          0      EMC
WI                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           6M PP              N                          0      EMC
MN                                 First Lien           3Y PP              N                          0      EMC
WI                                 First Lien           3Y PP              N                          0      EMC
MN                                 First Lien           NO PP              N                          0      EMC
IA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
MD                                 First Lien           NO PP              N                          0      EMC
GA                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
FL                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           6M PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
NJ                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
CA                                 First Lien           6M PP              N                          0      EMC
CA                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           6M PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           6M PP              N                          0      EMC
VA                                 First Lien           NO PP              Y                        120      EMC
NH                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
RI                                 First Lien           NO PP              N                          0      EMC
IL                                 First Lien           NO PP              Y                        120      EMC
AZ                                 First Lien           NO PP              Y                        120      EMC
WA                                 First Lien           NO PP              N                          0      EMC
MA                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           NO PP              Y                        120      EMC
GA                                 First Lien           5M PP              N                          0      EMC
MO                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           5M PP              N                          0      EMC
MI                                 First Lien           NO PP              N                          0      EMC
WI                                 First Lien           NO PP              N                          0      EMC
OH                                 First Lien           3Y PP              Y                        120      EMC
FL                                 First Lien           5M PP              N                          0      EMC
WI                                 First Lien           NO PP              Y                        120      EMC
MO                                 First Lien           5M PP              N                          0      EMC
AZ                                 First Lien           NO PP              N                          0      EMC
NH                                 First Lien           5M PP              N                          0      EMC
WI                                 First Lien           NO PP              N                          0      EMC
MO                                 First Lien           5M PP              N                          0      EMC
AZ                                 First Lien           3Y PP              Y                        120      EMC
AZ                                 First Lien           3Y PP              N                          0      EMC
VA                                 First Lien           NO PP              N                          0      EMC
VA                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
CO                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC
TX                                 First Lien           3Y PP              Y                         60      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              Y                        120      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           3Y PP              N                          0      EMC
TX                                 First Lien           NO PP              N                          0      EMC
TX                                 First Lien           3Y PP              Y                        120      EMC

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      C

    

    FORM
      OF
      TRANSFER AFFIDAVIT

    

    Affidavit
      pursuant to Section 860E(e)(4) of the Internal Revenue Code of 1986, as amended,
      and for other purposes 

    

    
      	
              STATE
                OF_____________

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF___________

            	
              )

            	 

    

    

    [NAME
      OF
      OFFICER], being first duly sworn, deposes and says:

     

    1. That
      he/she is [Title of Officer] of [Name of Investor] (the “Investor”), a [savings
      institution] [corporation] duly organized and existing under the laws of [the
      State of _____] [the United States], on behalf of which he makes this
      affidavit.

     

    2. That
      (i)
      the Investor is not a “disqualified organization” as defined in Section
      860E(e)(5) of the Internal Revenue Code of 1986, as amended (the “Code”), and
      will not be a disqualified organization as of [Closing Date] [date of purchase];
      (ii) it is not acquiring the Bear Stearns Mortgage Funding Trust 2006-AC1
      Asset-Backed Certificates, Series 2006-AC1, Class R-__ Certificates (the
“Residual Certificates”) for the account of a disqualified organization; (iii)
      it consents to any amendment of the Pooling and Servicing Agreement that shall
      be deemed necessary by Bear Stearns Asset Backed Securities I LLC (upon advice
      of counsel) to constitute a reasonable arrangement to ensure that the Residual
      Certificates will not be owned directly or indirectly by a disqualified
      organization; and (iv) it will not transfer such Residual Certificates unless
      (a) it has received from the transferee an affidavit in substantially the same
      form as this affidavit containing these same four representations and (b) as
      of
      the time of the transfer, it does not have actual knowledge that such affidavit
      is false.

     

    3. That
      the
      Investor is one of the following: (i) a citizen or resident of the United
      States, (ii) a corporation or partnership (including an entity treated as a
      corporation or partnership for federal income tax purposes) created or organized
      in, or under the laws of, the United States or any state thereof or the District
      of Columbia (except, in the case of a partnership, to the extent provided in
      regulations), provided that no partnership or other entity treated as a
      partnership for United States federal income tax purposes shall be treated
      as a
      United States Person unless all persons that own an interest in such partnership
      either directly or through any entity that is not a corporation for United
      States federal income tax purposes are United States Persons, (iii) an estate
      whose income is subject to United States federal income tax regardless of its
      source, or (iv) a trust other than a Aforeign
      trust,@
      as
      defined in Section 7701 (a)(31) of the Code.

     

    4. That
      the
      Investor’s taxpayer identification number is
      ______________________.

     

    5. That
      no
      purpose of the acquisition of the Residual Certificates is to avoid or impede
      the assessment or collection of tax.

     

    6. That
      the
      Investor understands that, as the holder of the Residual Certificates, the
      Investor may incur tax liabilities in excess of any cash flows generated by
      such
      Residual Certificates.

     

    7. That
      the
      Investor intends to pay taxes associated with holding the Residual Certificates
      as they become due.

     

    IN
      WITNESS WHEREOF, the Investor has caused this instrument to be executed on
      its
      behalf, pursuant to authority of its Board of Directors, by its [Title of
      Officer] this ____ day of _________, 20__.

     

    

    
      	 	 	 	 	 	 	 	
              [NAME
                OF INVESTOR]

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	
              [Name
                of Officer]

            
	 	 	 	 	 	 	 	
              [Title
                of Officer]

            
	 	 	 	 	 	 	 	
              [Address
                of Investor for receipt of distributions]

            
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Address
                of Investor for receipt of tax
                information:

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Personally
      appeared before me the above-named [Name of Officer], known or proved to me
      to
      be the same person who executed the foregoing instrument and to be the [Title
      of
      Officer] of the Investor, and acknowledged to me that he/she executed the same
      as his/her free act and deed and the free act and deed of the
      Investor.

    

    Subscribed
      and sworn before me this ___ day of _________, 20___.

    

    NOTARY
      PUBLIC

    

    COUNTY
      OF

    

    STATE
      OF

    

    

    My
      commission expires the ___ day of ___________________, 20___.

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      D

     

    FORM
      OF
      TRANSFEROR CERTIFICATE

     

    ______________,200___

     

    Bear
      Stearns Asset Backed Securities I LLC

    383
      Madison Avenue

    New
      York,
      New York 10179

     

    Wells
      Fargo Bank, National Association

    Sixth
      Street and Marquette Avenue

    Minneapolis,
      MN 55479

    

     

    Attention:
      Bear Stearns Mortgage Funding Trust 2006-AC1

     

    
      	
              Re:

            	
              Bear
                Stearns Mortgage Funding Trust 2006-AC1

              Asset-Backed
                Certificates, Series 2006-AC1, Class__

            

    

    Ladies
      and Gentlemen:

     

    In
      connection with the sale by ___________ (the “Seller”) to ________ (the
“Purchaser”) of $_________ Initial Certificate Principal Balance of Asset-Backed
      Certificates, Series 2006-AC1, Class _____ (the “Certificates”), issued pursuant
      to the Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”),
      dated as of July 1, 2006, among Bear Stearns Asset-Backed Securities I LLC,
      as
      depositor (the “Depositor”), EMC Mortgage Corporation, as seller and Master
      Servicer, and Wells Fargo Bank, National Association, as trustee (the
“Trustee”). The Seller hereby certifies, represents and warrants to, a covenants
      with, the Depositor, the Certificate Registrar and the Trustee
      that:

     

    Neither
      the Seller nor anyone acting on its behalf has (a) offered, pledged, sold,
      disposed of or otherwise transferred any Certificate, any interest in any
      Certificate or any other similar security to any person in any manner, (b)
      has
      solicited any offer to buy or to accept a pledge, disposition or other transfer
      of any Certificate, any interest in any Certificate or any other similar
      security from any person in any manner, (c) has otherwise approached or
      negotiated with respect to any Certificate, any interest in any Certificate
      or
      any other similar security with any person in any manner, (d) has made any
      general solicitation by means of general advertising or in any other manner,
      or
      (e) has taken any other action, that (as to any of (a) through (e) above) would
      constitute a distribution of the Certificates under the Securities Act of 1933
      (the “Act”), that would render the disposition of any Certificate a violation of
      Section 5 of the Act or any state securities law, or that would require
      registration or qualification pursuant thereto. The Seller will not act in
      any
      manner set forth in the foregoing sentence with respect to any Certificate.
      The
      Seller has not and will not sell or otherwise transfer any of the Certificates,
      except in compliance with the provisions of the Pooling and Servicing
      Agreement.

     

    

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              (Seller)

            	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	
              Name:

            	 
	 	 	 	 	 	 	 	
              Title:

            	 

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      E

     

    FORM
      OF
      INVESTMENT LETTER (NON-RULE 144A)

     

    [Date]

     

    [SELLER]

     

    Bear
      Stearns Asset Backed Securities I LLC

    383
      Madison Avenue

    New
      York,
      New York 10179

     

    Wells
      Fargo Bank, National Association

    Sixth
      Street and Marquette Avenue

    Minneapolis,
      MN 55479

     

    
      	 	
              Re:

            	
              Bear
                Stearns Mortgage Funding Trust 2006-AC1, Asset-Backed Certificates,
                Series
                2006-AC1 (the “Certificates”), including the Class ___ Certificates (the
                “Privately Offered Certificates”)

            

    

    

    Dear
      Ladies and Gentlemen:

     

    In
      connection with our purchase of Privately Offered Certificates, we confirm
      that:

    

    
      	 	
              (i)

            	
              we
                understand that the Privately Offered Certificates are not being
                registered under the Securities Act of 1933, as amended (the “Act”) or any
                applicable state securities or “Blue Sky” laws, and are being sold to us
                in a transaction that is exempt from the registration requirements
                of such
                laws;

            

    

     

    
      	 	
              (ii)

            	
              any
                information we desired concerning the Certificates, including the
                Privately Offered Certificates, the trust in which the Certificates
                represent the entire beneficial ownership interest (the “Trust”) or any
                other matter we deemed relevant to our decision to purchase Privately
                Offered Certificates has been made available to
                us;

            

    

     

    
      	 	
              (iii)

            	
              we
                are able to bear the economic risk of investment in Privately Offered
                Certificates; we are an institutional “accredited investor” as defined in
                Section 501(a) of Regulation D promulgated under the Act and a
                sophisticated institutional
                investor;

            

    

     

    
      	 	
              (iv)

            	
              we
                are acquiring Privately Offered Certificates for our own account,
                not as
                nominee for any other person, and not with a present view to any
                distribution or other disposition of the Privately Offered
                Certificates;

            

    

     

    
      	 	
              (v)

            	
              we
                agree the Privately Offered Certificates must be held indefinitely
                by us
                (and may not be sold, pledged, hypothecated or in any way disposed
                of)
                unless subsequently registered under the Act and any applicable state
                securities or “Blue Sky” laws or an exemption from the registration
                requirements of the Act and any applicable state securities or “Blue Sky”
                laws is available;

            

    

     

    
      	 	
              (vi)

            	
              we
                agree that in the event that at some future time we wish to dispose
                of or
                exchange any of the Privately Offered Certificates (such disposition
                or
                exchange not being currently foreseen or contemplated), we will not
                transfer or exchange any of the Privately Offered Certificates
                unless:

            

    

     

    (A)
      (1)
      the sale is to an Eligible Purchaser (as defined below), (2) if required by
      the
      Pooling and Servicing Agreement (as defined below) a letter to substantially
      the
      same effect as either this letter or, if the Eligible Purchaser is a Qualified
      Institutional Buyer as defined under Rule 144A of the Act, the Rule 144A and
      Related Matters Certificate in the form attached to the Pooling and Servicing
      Agreement (as defined below) (or such other documentation as may be acceptable
      to the Trustee) is executed promptly by the purchaser and delivered to the
      addressees hereof and (3) all offers or solicitations in connection with the
      sale, whether directly or through any agent acting on our behalf, are limited
      only to Eligible Purchasers and are not made by means of any form of general
      solicitation or general advertising whatsoever; and

     

    (B)
      if
      the Privately Offered Certificate is not registered under the Act (as to which
      we acknowledge you have no obligation), the Privately Offered Certificate is
      sold in a transaction that does not require registration under the Act and
      any
      applicable state securities or “blue sky” laws and, if Wells Fargo Bank,
      National Association (the “Trustee”) so requests, a satisfactory Opinion of
      Counsel is furnished to such effect, which Opinion of Counsel shall be an
      expense of the transferor or the transferee;

     

    
      	 	
              (vii)

            	
              we
                agree to be bound by all of the terms (including those relating to
                restrictions on transfer) of the Pooling and Servicing, pursuant
                to which
                the Trust was formed; we have reviewed carefully and understand the
                terms
                of the Pooling and Servicing
                Agreement;

            

    

     

    
      	 	
              (viii)

            	
              we
                either: (i) are not acquiring the Privately Offered Certificate directly
                or indirectly by, or on behalf of, an employee benefit plan or other
                retirement arrangement which is subject to Title I of the Employee
                Retirement Income Security Act of 1974, as amended, and/or section
                4975 of
                the Internal Revenue Code of 1986, as amended, or (ii) in the case
                of the
                Privately Offered Certificates, have provided the Opinion of Counsel
                required by the Agreement,
                or (iii) in the case of the Class B-4 Certificates, are providing
                a
                representation to the effect that the proposed transfer and holding
                of
                such Certificate and servicing, management and operation of the Trust
                and
                its assets: (I) will not result in any prohibited transaction which
                is not
                covered under Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE
                91-38, PTCE 90-1, PTCE 95-60, PTCE 96-23 and (II) will not give rise
                to
                any additional obligations on the part of the Depositor, the Master
                Servicer or the Trustee. 

            

    

     

    (ix)            
       We
      understand that each of the Privately Offered Certificates bears, and will
      continue to bear, a legend to substantiate the following effect: THIS
      CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT
      OF
      1933, AS AMENDED (THE “ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER
      HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE
      REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH
      THE
      ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE
      ACT
      (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED
      INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR
      ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER
      HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
      IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM
      REGISTRATION PROVIDED BY RULE 144 UNDER THE ACT (IF AVAILABLE) OR (3) IN
      CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING
      THEREOF IN RULE 501(a)(1), (2),(3) OR (7) (OR ANY ENTITY IN WHICH ALL OF THE
      EQUITY HOLDERS COME WITHIN SUCH PARAGRAPHS) OF REGULATION D UNDER THE ACT
      PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE ACT, SUBJECT TO (A) THE
      RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE
      AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF AN OPINION OF COUNSEL AS TO
      COMPLIANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES.
[In
      the
      case of the Class B-4 Certificates]: THIS
      CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF,
      AN
      EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE
      I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION
      4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE
      CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE
      AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I)
      WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN
      INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED
      TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE
      90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL
      OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE,
      WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR
      A
      GLOBAL CERTIFICATE, OR PROVIDES AN OPINION OF COUNSEL TO SUCH EFFECT.
[In
      the
      case of the Class P Certificates and Class C Certificates]:
      NO TRANSFER OF THIS CERTIFICATE SHALL BE MADE TO ANY PERSON, UNLESS THE
      TRANSFEREE PROVIDES EITHER (I) A CERTIFICATION PURSUANT TO SECTION 7.02(b)
      OF
      THE AGREEMENT OR (II) AN OPINION OF COUNSEL PURSUANT TO 7.02(b) OF THE
      AGREEMENT, SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE AND HOLDING OF THIS
      CERTIFICATE ARE PERMISSIBLE UNDER APPLICABLE LAW, WILL NOT CONSTITUTE OR RESULT
      IN ANY NON-EXEMPT PROHIBITED TRANSACTIONS UNDER SECTION 406 OF THE EMPLOYEE
      RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF
      THE CODE AND WILL NOT SUBJECT THE TRUSTEE, MASTER SERVICER, OR THE DEPOSITOR
      TO
      ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE
      AGREEMENT.

    

    “Eligible
      Purchaser” means a corporation, partnership or other entity which we have
      reasonable grounds to believe and do believe (i) can make representations with
      respect to itself to substantially the same effect as the representations set
      forth herein, and (ii) is either a Qualified Institutional Buyer as defined
      under Rule 144A of the Act or an institutional “Accredited Investor” as defined
      under Rule 501 of the Act.

    

    Terms
      not
      otherwise defined herein shall have the meanings assigned to them in the Pooling
      and Servicing Agreement, dated as of July 1, 2006 (the “Pooling and Servicing
      Agreement”), among Bear Stearns Asset Backed Securities I LLC, as depositor, EMC
      Mortgage Corporation, as seller and master servicer, and Wells Fargo Bank,
      National Association, as trustee.

    

    If
      the
      Purchaser proposes that its Certificates be registered in the name of a nominee
      on its behalf, the Purchaser has identified such nominee below, and has caused
      such nominee to complete the Nominee Acknowledgment at the end of this
      letter.

    

    Name
      of
      Nominee (if any): ________________

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, this document has been executed by the undersigned who is
      duly
      authorized to do so on behalf of the undersigned Eligible Purchaser on the
      ___
      day of ________, 20___.

     

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [PURCHASER]

            	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    Nominee
      Acknowledgment

     

    The
      undersigned hereby acknowledges and agrees that as to the Certificates being
      registered in its name, the sole beneficial owner thereof is and shall be the
      Purchaser identified above, for whom the undersigned is acting as
      nominee.

     

    
      	 	 	 	 	 	 	 	
              [NAME
                OF NOMINEE]

            	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      F

     

    FORM
      OF
      RULE 144A AND RELATED MATTERS CERTIFICATE

     

    [SELLER]

     

    Bear
      Stearns Asset Backed Securities I LLC

    383
      Madison Avenue

    New
      York,
      New York 10179

     

    Wells
      Fargo Bank, National Association

    Sixth
      Street and Marquette Avenue

    Minneapolis,
      MN 55479

     

    
      	 	
              Re:

            	
              Bear
                Stearns Mortgage Funding Trust 2006-AC1, Asset-Backed Certificates,
                Series
                2006-AC1 (the “Certificates”), including the Class ___ Certificates (the
                “Privately Offered Certificates”)

            

    

    

     

    Dear
      Ladies and Gentlemen:

     

    In
      connection with our purchase of Privately Offered Certificates, the undersigned
      certifies to each of the parties to whom this letter is addressed that it is
      a
      qualified institutional buyer (as defined in Rule 144A under the Securities Act
      of 1933, as amended (the “Act”)) as follows:

     

    
      	1.  	
              It
                owned and/or invested on a discretionary basis eligible securities
                (excluding affiliate’s securities, bank deposit notes and CD’s, loan
                participations, repurchase agreements, securities owned but subject
                to a
                repurchase agreement and swaps), as described
                below:

            

    

     

    Date:
      ______________, 20__ (must be on or after the close of its most recent fiscal
      year) 

     

    Amount:
      $
      _____________________; and

     

    
      	2.  	
              The
                dollar amount set forth above is:

            

    

     

    
      	 	
              a.

            	
              greater
                than $100 million and the undersigned is one of the following
                entities:

            

    

     

    
      	
              (x)

            	
              [_]

            	
              an
                insurance company as defined in Section 2(13) of the Act1 ;
                or 

            
	 	 	 
	
              (y)

            	
              [_]

            	
              an
                investment company registered under the Investment Company Act or
                any
                business development company as defined in Section 2(a)(48) of the
                Investment Company Act of 1940; or

            
	 	 	 
	
              (z)

            	
              [_]

            	
              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; or

            
	 	 	 
	
              (aa)

            	
              [_]

            	
              a
                plan (i) established and maintained by a state, its political
                subdivisions, or any agency or instrumentality of a state or its
                political
                subdivisions, the laws of which permit the purchase of securities
                of this
                type, for the benefit of its employees and (ii) the governing investment
                guidelines of which permit the purchase of securities of this type;
                or

            
	 	 	 
	
              (bb)

            	
              [_]

            	
              a
                business development company as defined in Section 202(a)(22) of
                the
                Investment Advisers Act of 1940; or

            
	 	 	 
	
              (cc)

            	
              [_]

            	
              a
                corporation (other than a U.S. bank, savings and loan association
                or
                equivalent foreign institution), partnership, Massachusetts or similar
                business trust, or an organization described in Section 501(c)(3)
                of the
                Internal Revenue Code; or

            
	 	 	 
	
              (dd)

            	
              [_]

            	
              a
                U.S. bank, savings and loan association or equivalent foreign institution,
                which has an audited net worth of at least $25 million as demonstrated
                in
                its latest annual financial statements; or

            
	 	 	 
	
              (ee)

            	
              [_]

            	
              an
                investment adviser registered under the Investment Advisers Act;
                or

            

    

     

    
      	
              b.

            	
              [_]

            	
              greater
                than $10 million, and the undersigned is a broker-dealer registered
                with
                the SEC; or

            
	 	 	 
	
              c.

            	
              [_]

            	
              less
                than $ 10 million, and the undersigned is a broker-dealer registered
                with
                the SEC and will only purchase Rule 144A securities in transactions
                in
                which it acts as a riskless principal (as defined in Rule 144A);
                or

            
	 	 	 
	
              d.

            	
              [_]

            	
              less
                than $100 million, and the undersigned is an investment company registered
                under the Investment Company Act of 1940, which, together with one
                or more
                registered investment companies having the same or an affiliated
                investment adviser, owns at least $100 million of eligible securities;
                or

            
	 	 	 
	
              e.

            	
              [_]

            	
              less
                than $100 million, and the undersigned is an entity, all the equity
                owners
                of which are qualified institutional buyers.

            
	 	 	 

    

    The
      undersigned further certifies that it is purchasing a Privately Offered
      Certificate for its own account or for the account of others that independently
      qualify as “Qualified Institutional Buyers” as defined in Rule 144A. It is aware
      that the sale of the Privately Offered Certificates is being made in reliance
      on
      its continued compliance with Rule 144A. It is aware that the transferor may
      rely on the exemption from the provisions of Section 5 of the Act provided
      by
      Rule 144A. The undersigned understands that the Privately Offered Certificates
      may be resold, pledged or transferred only to (i) 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 in Rule 144A, or (ii)
      an
      institutional “accredited investor,” as such term is defined under Rule 501 of
      the Act in a transaction that otherwise does not constitute a public offering.
      

     

    The
      undersigned agrees that if at some future time it wishes to dispose of or
      exchange any of the Privately Offered Certificates, it will not transfer or
      exchange any of the Privately Offered Certificates to a Qualified Institutional
      Buyer without first obtaining a Rule 144A and Related Matters Certificate in
      the
      form hereof from the transferee and delivering such certificate to the
      addressees hereof. Prior to making any transfer of Privately Offered
      Certificates, if the proposed Transferee is an institutional “accredited
      investor,” the transferor shall obtain from the transferee and deliver to the
      addressees hereof an Investment Letter in the form attached to the Pooling
      and
      Servicing Agreement, dated as of July 1, 2006, among EMC Mortgage Corporation
      as
      seller and master servicer, Bear Stearns Asset Backed Securities I LLC, as
      depositor, and Wells Fargo Bank, National Association, as trustee.

     

    The
      undersigned certifies that it either: (i) is not acquiring the Privately Offered
      Certificate directly or indirectly by, or on behalf of, an employee benefit
      plan
      or other retirement arrangement which is subject to Title I of the Employee
      Retirement Income Security Act of 1974, as amended, and/or section 4975 of
      the
      Internal Revenue Code of 1986, as amended, or (ii) in the case of the Privately
      Offered Certificates, has provided the Opinion of Counsel required by the
      Agreement,
      or (iii) in the case of the Class B-4 Certificates, are providing a
      representation to the effect that the proposed transfer and holding of such
      Certificate and servicing, management and operation of the Trust and its assets:
      (I) will not result in any prohibited transaction which is not covered under
      Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1,
      PTCE 95-60, PTCE 96-23 and (II) will not give rise to any additional obligations
      on the part of the Depositor, the Master Servicer or the Trustee.

     

    If
      the
      Purchaser proposes that its Certificates be registered in the name of a nominee
      on its behalf, the Purchaser has identified such nominee below, and has caused
      such nominee to complete the Nominee Acknowledgment at the end of this letter.
      

     

    
      

      
        
          	1	
                  A
                    purchase by an insurance company for one or more of its separate
                    accounts,
                    as defined by Section 2(a)(37) of the Investment Company Act
                    of 1940,
                    which are neither registered nor required to be registered thereunder,
                    shall be deemed to be a purchase for the account of such insurance
                    company. 

                

        

      

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Name
      of
      Nominee (if any):

     

    IN
      WITNESS WHEREOF, this document has been executed by the undersigned who is
      duly
      authorized to do so on behalf of the undersigned Eligible Purchaser on the
      ____
      day of ___________, 20___.

     

    
      	 	 	 	 	 	 	 	
              Very
                truly yours,

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [PURCHASER]

            	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Nominee
      Acknowledgment

     

    The
      undersigned hereby acknowledges and agrees that as to the Certificates being
      registered in its name, the sole beneficial owner thereof is and shall be the
      Purchaser identified above, for whom the undersigned is acting as
      nominee.

     

    
      	 	 	 	 	 	 	 	
              [NAME
                OF NOMINEE]

            	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (Authorized
                Officer)

            
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              [By:

            	 
	 	 	 	 	 	 	 	 	
              Attorney-in-fact]

            

    

    

    

    

      
         

      

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      G

     

    FORM
      OF
      REQUEST FOR RELEASE

     

    To:        
       Wells
      Fargo Bank, National Association

    1015
      10th
      Avenue S.E.

    Minneapolis,
      Minnesota 55414-0031

    

    
      	 	
              Re:

            	
              Custodial
                Agreement, dated as of July 1, 2006, between Bear Stearns Asset Backed
                Securities I LLC, as depositor, EMC Mortgage Corporation, as seller
                and
                master servicer, and Wells Fargo Bank, National Association, as
                trustee

            

    

    

     

    In
      connection with the administration of the Mortgage Loans held by you pursuant
      to
      the above-captioned Custodial Agreement, we request the release, and hereby
      acknowledge receipt, of the Mortgage File for the Mortgage Loan described below,
      for the reason indicated.

     

    Mortgage
      Loan Number:

     

    Mortgagor
      Name, Address & Zip Code:

     

    Reason
      for Requesting Documents (check one):

     

    
      	
              _____

            	
              1.

            	 	
              Mortgage
                Paid in Full and proceeds have been deposited into the Custodial
                Account

            	 
	 	 	 	 	 
	
              _____

            	
              2.

            	 	
              Foreclosure

            	 
	 	 	 	 	 
	
              _____

            	
              3.

            	 	
              Substitution

            	 
	 	 	 	 	 
	
              _____

            	
              4.

            	 	
              Other
                Liquidation

            	 
	 	 	 	 	 
	
              _____

            	
              5.

            	 	
              Nonliquidation

            	
              Reason:________________________

            
	 	 	 	 	 
	
              _____

            	
              6.

            	 	
              California
                Mortgage Loan paid in full

            	 

    

    

    
      	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	 
	 	 	 	 	 	 	 	 	
              (authorized
                signer)

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              Issuer:

            	 
	 	 	 	 	 	 	 	
              Address:

            	 
	 	 	 	 	 	 	 	
              Date:

            	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      H

    

    DTC
      LETTER OF REPRESENTATIONS

    

    [Provided
      upon Request]

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      I

    

    SCHEDULE
      OF MORTGAGE LOANS WITH LOST NOTES

    

    [Provided
      upon Request]

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      J

    

    FORM
      OF
      CUSTODIAL AGREEMENT

     

    CUSTODIAL
      AGREEMENT

     

    THIS
      CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the
“Agreement”), dated as of July 31, 2006, by and among WELLS FARGO BANK, NATIONAL
      ASSOCIATION, as trustee under the Pooling and Servicing Agreement defined below
      (including its successors under the Pooling and Servicing Agreement defined
      below, the “Trustee”) and custodian (together with any successor in interest or
      any successor appointed hereunder, the “Custodian”), BEAR STEARNS ASSET BACKED
      SECURITIES I LLC, as depositor (together with any successor in interest, the
      “Depositor”), and EMC MORTGAGE CORPORATION, as seller (the “Seller”) and master
      servicer (together with any successor in interest or successor under the Pooling
      and Servicing Agreement referred to below, the “Master Servicer”).

     

    WITNESSETH
      THAT:

     

    WHEREAS,
      the Depositor, the Seller, the Master Servicer and the Trustee have entered
      into
      a Pooling and Servicing Agreement, dated as of July 1, 2006, relating to the
      issuance of Bear Stearns Mortgage Funding Trust 2006-AC1, Series 2006-AC1 (as
      in
      effect on the date of this Agreement, the “Original Pooling and Servicing
      Agreement,” and as amended and supplemented from time to time, the “Pooling and
      Servicing Agreement”); and

     

    WHEREAS,
      the Custodian has agreed to act as agent for the Trustee for the purposes of
      receiving and holding certain documents and other instruments delivered by
      the
      Depositor, the Seller or the Master Servicer under the Pooling and Servicing
      Agreement and the Servicers, if any, under their respective Servicing
      Agreements, all upon the terms and conditions and subject to the limitations
      hereinafter set forth;

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual covenants and
      agreements hereinafter set forth, the Trustee, the Depositor, the Seller, the
      Master Servicer and the Custodian hereby agree as follows:

     

    ARTICLE
      I.

    DEFINITIONS

     

    Capitalized
      terms used in this Agreement and not defined herein shall have the meanings
      assigned in the Original Pooling and Servicing Agreement, unless otherwise
      required by the context herein.

     

    ARTICLE
      II.

    CUSTODY
      OF MORTGAGE DOCUMENTS

     

    Section
      2.1.  Custodian
      to Act as Agent: Acceptance of Mortgage Files.
      The
      Custodian, as the duly appointed custodial agent of the Trustee for these
      purposes, acknowledges (subject to any exceptions noted in the Initial
      Certification referred to in Section 2.3(a)) receipt of the Mortgage Files
      relating to the Mortgage Loans identified on the schedule attached hereto (the
      “Mortgage Files”) and declares that it holds and will hold such Mortgage Files
      as agent for the Trustee, in trust, for the use and benefit of all present
      and
      future Certificateholders.

     

    Section
      2.2.  Recordation
      of Assignments.
      If any
      Mortgage File includes one or more assignments of Mortgage that have not been
      recorded pursuant to the provisions of Section 2.01 of the Pooling and Servicing
      Agreement and the related Mortgage Loan is not a MOM Loan or the related
      Mortgaged Properties are located in jurisdictions specifically excluded by
      the
      Opinion of Counsel delivered to the Trustee pursuant to Section 2.01 of the
      Pooling and Servicing Agreement, each such assignment shall be delivered by
      the
      Custodian to the Seller for the purpose of recording it in the appropriate
      public office for real property records, and the Seller, at no expense to the
      Custodian, shall promptly cause to be recorded in the appropriate public office
      for real property records each such assignment of Mortgage and, upon receipt
      thereof from such public office, shall return each such assignment of Mortgage
      to the Custodian.

     

    Section
      2.3.  Review
      of Mortgage Files.

     

    (a)  On
      or
      prior to the Closing Date, in accordance with Section 2.02 of the Pooling and
      Servicing Agreement, the Custodian shall deliver to the Seller and the Trustee
      an Initial Certification in the form annexed hereto as Exhibit One evidencing
      receipt (subject to any exceptions noted therein) of a Mortgage File for each
      of
      the Mortgage Loans listed on the Schedule attached hereto (the “Mortgage Loan
      Schedule”).

     

    (b)  Within
      90
      days of the Closing Date, the Custodian agrees, for the benefit of
      Certificateholders, to review, in accordance with the provisions of Section
      2.02
      of the Pooling and Servicing Agreement, each such document, and shall deliver
      to
      the Seller and the Trustee an Interim Certification in the form annexed hereto
      as Exhibit Two to the effect that all such documents have been executed and
      received and that such documents relate to the Mortgage Loans identified on
      the
      Mortgage Loan Schedule, except for any exceptions listed on Schedule A attached
      to such Interim Certification. The Custodian shall be under no duty or
      obligation to inspect, review or examine said documents, instruments,
      certificates or other papers to determine that the same 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.

     

    (c)  Not
      later
      than 180 days after the Closing Date, the Custodian shall review the Mortgage
      Files as provided in Section 2.02 of the Pooling and Servicing Agreement and
      deliver to the Seller and the Trustee a Final Certification in the form annexed
      hereto as Exhibit Three evidencing the completeness of the Mortgage
      Files.

     

    (d)  In
      reviewing the Mortgage Files as provided herein and in the Pooling and Servicing
      Agreement, the Custodian shall make no representation as to and shall not be
      responsible to verify (i) the validity, legality, enforceability, due
      authorization, recordability, sufficiency or genuineness of any of the documents
      included in any Mortgage File or (ii) the collectability, insurability,
      effectiveness or suitability of any of the documents in any Mortgage
      File.

     

    Upon
      receipt of written request from the Trustee, the Custodian shall as soon as
      practicable supply the Trustee with a list of all of the documents relating
      to
      the Mortgage Loans missing from the Mortgage Files.

     

    Section
      2.4.  Notification
      of Breaches of Representations and Warranties.
      Upon
      discovery by the Custodian of a breach of any representation or warranty made
      by
      the Depositor as set forth in the Pooling and Servicing Agreement with respect
      to a Mortgage Loan relating to a Mortgage File, the Custodian shall give prompt
      written notice to the Depositor, the Master Servicer and the
      Trustee.

     

    Section
      2.5.  Custodian
      to Cooperate: Release of Mortgage Files.
      Upon
      receipt of written notice from the Trustee that the Seller has repurchased
      a
      Mortgage Loan pursuant to Article II of the Pooling and Servicing Agreement,
      and
      a request for release (a “Request for Release”) confirming that the purchase
      price therefore has been deposited in the Master Servicer Collection Account
      or
      the Distribution Account, then the Custodian agrees to promptly release to
      the
      Seller the related Mortgage File.

     

    Upon
      the
      Custodian’s receipt of a Request for Release substantially in the form of
      Exhibit G to the Pooling and Servicing Agreement signed by a Servicing Officer
      of a Servicer, stating that it has received payment in full of a Mortgage Loan
      or that payment in full will be escrowed in a manner customary for such
      purposes, the Custodian agrees promptly to release to the Servicer, the related
      Mortgage File. The Depositor shall deliver to the Custodian and the Custodian
      agrees to review in accordance with the provisions of their Agreement the
      Mortgage Note and other documents constituting the Mortgage File with respect
      to
      any Replacement Mortgage Loan.

     

    From
      time
      to time as is appropriate for the servicing or foreclosure of any Mortgage
      Loan,
      including, for this purpose, collection under any Primary Insurance Policy
      or
      PMI Policy, the Master Servicer shall deliver to the Custodian a Request for
      Release signed by a Servicing Officer requesting that possession of all of
      the
      Mortgage File be released to the Master Servicer and certifying as to the reason
      for such release and that such release will not invalidate any insurance
      coverage provided in respect of the Mortgage Loan under any of the Insurance
      Policies. Upon receipt of the foregoing, the Custodian shall deliver the
      Mortgage File to the Master Servicer. The Master Servicer shall cause each
      Mortgage File or any document therein so released to be returned to the
      Custodian when the need therefore by the Master Servicer no longer exists,
      unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds
      relating to the Mortgage Loan have been deposited in the Master Servicer
      Collection Account or the Distribution Account or (ii) the Mortgage File or
      such
      document has been delivered to an attorney, or to a public trustee or other
      public official as required by law, for purposes of initiating or pursuing
      legal
      action or other proceedings for the foreclosure of the Mortgaged Property either
      judicially or non-judicially, and the Master Servicer has delivered to the
      Custodian a certificate of a Servicing Officer certifying as to the name and
      address of the Person to which such Mortgage File or such document was delivered
      and the purpose or purposes of such delivery.

     

    At
      any
      time that the Master Servicer is required to deliver to the Custodian a Request
      for Release, the Master Servicer shall deliver two copies of the Request for
      Release if delivered in hard copy or the Master Servicer may furnish such
      Request for Release electronically to the Custodian, in which event the
      Servicing Officer transmitting the same shall be deemed to have signed the
      Request for Release. In connection with any Request for Release of a Mortgage
      File because of a repurchase of a Mortgage Loan, such Request for Release shall
      be accompanied by an assignment of mortgage, without recourse, representation
      or
      warranty from the Trustee to the Seller (unless such Mortgage Loan is a MOM
      Loan) and the related Mortgage Note shall be endorsed without recourse,
      representation or warranty by the Trustee (unless such Mortgage Loans is
      registered on the MERS System) and be returned to the Seller. In connection
      with
      any Request for Release of a Mortgage File because of the payment in full of
      a
      Mortgage Loan, such Request for Release shall be accompanied by a certificate
      of
      satisfaction or other similar instrument to be executed by or on behalf of
      the
      Trustee and returned to the Master Servicer.

     

    Section
      2.6.  Assumption
      Agreements.
      In the
      event that any assumption agreement, substitution of liability agreement or
      sale
      of servicing agreement is entered into with respect to any Mortgage Loan subject
      to this Agreement in accordance with the terms and provisions of the Pooling
      and
      Servicing Agreement, the Master Servicer, to the extent provided in the Pooling
      and Servicing Agreement or the related Servicing Agreement, shall cause EMC
      or
      the related Servicer, as applicable, to notify the Custodian that such
      assumption or substitution agreement has been completed by forwarding to the
      Custodian the original of such assumption or substitution agreement, which
      shall
      be added to the related Mortgage File and, for all purposes, shall be considered
      a part of such Mortgage File to the same extent as all other documents and
      instruments constituting parts thereof.

     

    ARTICLE
      III.

    CONCERNING
      THE CUSTODIAN

     

    Section
      3.1.  Custodian
      a Bailee and Agent of the Trustee.
      With
      respect to each Mortgage Note, Mortgage and other documents constituting each
      Mortgage File which are delivered to the Custodian, the Custodian is exclusively
      the bailee and custodial agent of the Trustee and has no instructions to hold
      any Mortgage Note or Mortgage for the benefit of any person other than the
      Trustee and the Certificateholders and undertakes to perform such duties and
      only such duties as are specifically set forth in this Agreement and in the
      Pooling and Servicing Agreement. Except upon compliance with the provisions
      of
      Section 2.5 of this Agreement, no Mortgage Note, Mortgage or Mortgage File
      shall
      be delivered by the Custodian to the Company, the Depositor, or the Master
      Servicer or otherwise released from the possession of the
      Custodian.

     

    Section
      3.2.  Custodian
      May Own Certificates.
      The
      Custodian in its individual or any other capacity may become the owner or
      pledgee of Certificates with the same rights it would have if it were not
      Custodian.

     

    Section
      3.3.  Trustee
      to Pay Custodian’s Fees.
      The
      Trustee covenants and agrees to pay to the Custodian from time to time, and
      the
      Custodian shall be entitled to, reasonable compensation for all services
      rendered by it in the exercise and performance of any of the powers and duties
      hereunder of the Custodian. 

     

    Section
      3.4.  Custodian
      May Resign; Trustee May Remove Custodian.
      The
      Custodian may resign from the obligations and duties hereby imposed upon it
      as
      such obligations and duties relate to its acting as Custodian of the Mortgage
      Loans. Upon receiving such written notice of resignation, the Trustee shall
      either take custody of the Mortgage Files itself and give prompt written notice
      thereof to the Depositor, the Master Servicer and the Custodian, or promptly
      appoint a successor Custodian by written instrument, in duplicate, one copy
      of
      which instrument shall be delivered to the resigning Custodian and one copy
      to
      the successor Custodian. If the Trustee shall not have taken custody of the
      Mortgage Files and no successor Custodian shall have been so appointed and
      have
      accepted appointment within 30 days after the giving of such written notice
      of
      resignation, the resigning Custodian may petition any court of competent
      jurisdiction for the appointment of a successor Custodian.

     

    The
      Trustee may remove the Custodian at any time upon 60 days prior written notice
      to Custodian. In such event, the Trustee shall appoint, or petition a court
      of
      competent jurisdiction to appoint, a successor Custodian hereunder. Any
      successor Custodian shall be a depository institution subject to supervision
      or
      examination by federal or state authority shall be able to satisfy the other
      requirements contained in Section 3.6 and shall be unaffiliated with the
      Servicers, the Company and the Depositor.

     

    Any
      resignation or removal of the Custodian and appointment of a successor Custodian
      pursuant to any of the provisions of this Section 3.4 shall become effective
      upon acceptance of appointment by the successor Custodian. The Trustee shall
      give prompt notice to the Depositor and the Master Servicer of the appointment
      of any successor Custodian. No successor Custodian shall be appointed by the
      Trustee without the prior approval of the Depositor and the Master
      Servicer.

     

    Section
      3.5.  Merger
      or Consolidation of Custodian.
      Any
      Person into which the Custodian may be merged or converted or with which it
      may
      be consolidated, or any Person resulting from any merger, conversion or
      consolidation to which the Custodian shall be a party, or any Person succeeding
      to the business of the Custodian, shall be the successor of the Custodian
      hereunder, 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
      3.6.  Representations
      of the Custodian.
      The
      Custodian hereby represents that it is a depository institution subject to
      supervision or examination by a federal or state authority, has a combined
      capital and surplus of at least $15,000,000 and is qualified to do business
      in
      the jurisdictions in which it will hold any Mortgage File.

     

    ARTICLE
      IV.

    COMPLIANCE
      WITH REGULATION AB

     

    Section
      4.1.  Intent
      of
      the parties; Reasonableness. The parties hereto acknowledge and agree that
      the
      purpose of this Article IV is to facilitate compliance by the Depositor with
      the
      provisions of Regulation AB and related rules and regulations of the Commission.
      The Depositor shall not exercise its right to request delivery of information
      or
      other performance under these provisions other than in good faith, or for
      purposes other than compliance with the Securities Act, the Exchange Act and
      the
      rules and regulations of the Commission under the Securities Act and the
      Exchange Act. Each of the parties hereto acknowledges that interpretations
      of
      the requirements of Regulation AB may change over time, whether due to
      interpretive guidance provided by the Commission or its staff, consensus among
      participants in the mortgage-backed securities markets, advice of counsel,
      or
      otherwise, and agrees to comply with requests made by the Depositor in good
      faith for delivery of information under these provisions on the basis of
      evolving interpretations of Regulation AB to the extent reasonably practicable.
      The Custodian shall cooperate reasonably with the Depositor to deliver to the
      Depositor (including any of its assignees or designees), any and all disclosure,
      statements, reports, certifications, records and any other information necessary
      in the reasonable, good faith determination of the Depositor to permit the
      Depositor to comply with the provisions of Regulation AB.

     

    Section
      4.2.  Additional
      Representations and Warranties of the Custodian.

     

    (a)  The
      Custodian hereby represents and warrants that the information set forth in
      the
      Prospectus Supplement under the caption "Description of the Certificates -
      The
      Custodian" (the "Custodian Disclosure") does not contain any untrue statement
      of
      a material fact or omit to state a material fact required to be stated therein
      or necessary in order to make the statements therein, in the light of the
      circumstances under which they were made, not misleading.

     

    (b)  The
      Custodian shall be deemed to represent to the Depositor as of the date hereof
      and on each date on which information is provided to the Depositor under Section
      4.3 that, except as disclosed in writing to the Depositor prior to such date:
      (i) there are no aspects of its financial condition that could have a material
      adverse effect on the performance by it of its Custodian obligations under
      this
      Agreement or any other Securitization Transaction as to which it is the
      custodian; (ii) there are no material legal or governmental proceedings pending
      (or known to be contemplated) against it; and (iii) there are no affiliations,
      relationships or transactions relating to the Custodian with respect to the
      Depositor or any sponsor, issuing entity, servicer, trustee, originator,
      significant obligor, enhancement or support provider or other material
      transaction party (as such terms are used in Regulation AB) relating to the
      Securitization Transaction contemplated by the Agreement, as identified by
      the
      Depositor to the Custodian in writing as of the Closing Date (each, a
      "Transaction Party").

     

    (c)  If
      so
      requested by the Depositor on any date following the Closing Date, the Custodian
      shall, within five Business Days following such request, confirm in writing
      the
      accuracy of the representations and warranties set forth in paragraph (a) of
      this Section or, if any such representation and warranty is not accurate as
      of
      the date of such confirmation, provide reasonably adequate disclosure of the
      pertinent facts, in writing, to the requesting party. Any such request from
      the
      Depositor shall not be given more than once each calendar quarter, unless the
      Depositor shall have a reasonable basis for a determination that any of the
      representations and warranties may not be accurate.

     

    Section
      4.3.  Additional
      Information to Be Provided by the Custodian. For so long as the Certificates
      are
      outstanding, for the purpose of satisfying the Depositor 's reporting obligation
      under the Exchange Act with respect to any class of Certificates, the Custodian
      shall (a) notify the Depositor in writing of any material litigation or
      governmental proceedings pending against the Custodian that would be material
      to
      Certificateholders, and (b) provide to the Depositor a written description
      of
      such proceedings. Any notices and descriptions required under this Section
      4.3
      shall be given no later than five Business Days prior to the Determination
      Date
      following the month in which the Custodian has knowledge of the occurrence
      of
      the relevant event. As of the date the Depositor or Master Servicer files each
      Report on Form 10-D or Form 10-K with respect to the Certificates, the Custodian
      will be deemed to represent that any information previously provided under
      this
      Section 4.3, if any, is materially correct and does not have any material
      omissions unless the Custodian has provided an update to such
      information.

     

    Section
      4.4.  Report
      on
      Assessment of Compliance and Attestation. On or before March 15 of each calendar
      year, the Custodian shall:

     

    (a)  deliver
      to the Master Servicer, the Depositor and the Trustee a report (in form and
      substance reasonably satisfactory to the Depositor) regarding the Custodian’s
      assessment of compliance with the Servicing Criteria during the immediately
      preceding calendar year, as required under Rules 13a-18 and 15d-18 of the
      Exchange Act and Item 1122 of Regulation AB. Such report shall be addressed
      to
      the Master Servicer, the Depositor and the Trustee and signed by an authorized
      officer of the Custodian, and shall address each of the Servicing Criteria
      specified on a certification substantially in the form of Exhibit Four attached
      hereto; and

     

    (b)  deliver
      to the Master Servicer, the Depositor and the Trustee a report of a registered
      public accounting firm reasonably acceptable to the Depositor that attests
      to,
      and reports on, the assessment of compliance made by the Custodian and delivered
      pursuant to the preceding paragraph. Such attestation shall be in accordance
      with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act
      and
      the Exchange Act.

     

    Section
      4.5.  Indemnification;
      Remedies.

     

    (a)  The
      Custodian shall indemnify the Depositor, each affiliate of the Depositor, EMC
      and each broker dealer acting as underwriter, placement agent or initial
      purchaser of the Certificates or each Person who controls any of such parties
      (within the meaning of Section 15 of the Securities Act and Section 20 of the
      Exchange Act); and the respective present and former directors, officers,
      employees and agents of each of the foregoing, and shall hold each of them
      harmless from and against any losses, damages, penalties, fines, forfeitures,
      legal fees and expenses and related costs, judgments, and any other costs,
      fees
      and expenses that any of them may sustain arising out of or based
      upon:

     

    (i) (A)
      any
      untrue statement of a material fact contained or alleged to be contained in
      the
      Custodian Disclosure and any information, report, certification, accountants’
attestation or other material provided under this Article IV by or on behalf
      of
      the Custodian (collectively, the “Custodian Information”), or (B) the omission
      or alleged omission to state in the Custodian Information a material fact
      required to be stated in the Custodian Information or necessary in order to
      make
      the statements therein, in the light of the circumstances under which they
      were
      made, not misleading; or

     

    (ii) any
      failure by the Custodian to deliver any information, report, certification,
      accountants’ attestation or other material when and as required under this
      Article IV.

     

    (iii) the
      negligence, bad faith or willful misconduct of the Custodian in the performance
      of its obligations under this Article IV. 

     

    (b)  In
      the
      case of any failure of performance described in clause (ii) of Section 4.5(a),
      the Custodian shall promptly reimburse the Depositor for all costs reasonably
      incurred by the Depositor in order to obtain the information, report,
      certification, accountants’ letter or other material not delivered as required
      by the Custodian.

     

    (c)  In
      no
      event shall the Custodian or its directors, officers, and employees be liable
      for any special, indirect or consequential damages from any action taken or
      omitted to be taken by it or them hereunder or in connection herewith even
      if
      advised of the possibility of such damages.

     

    This
      indemnification shall survive the termination of this Agreement or the
      termination of the Custodian. 

     

    ARTICLE
      V.

    MISCELLANEOUS
      PROVISIONS

     

    Section
      5.1.  Notices.
      All
      notices, requests, consents and demands and other communications required under
      this Agreement or pursuant to any other instrument or document delivered
      hereunder shall be in writing and, unless otherwise specifically provided,
      may
      be delivered personally, by telegram or telex, or by registered or certified
      mail, postage prepaid, return receipt requested, at the addresses specified
      on
      the signature page hereof (unless changed by the particular party whose address
      is stated herein by similar notice in writing), in which case the notice will
      be
      deemed delivered when received.

     

    Section
      5.2.  [Reserved].

     

    Section
      5.3.  Amendments.
      No
      modification or amendment of or supplement to this Agreement shall be valid
      or
      effective unless the same is in writing and signed by all parties
      hereto.  The Trustee shall give prompt notice to the Custodian of any
      amendment or supplement to the Pooling and Servicing Agreement and furnish
      the
      Custodian with written copies thereof.

     

    Section
      5.4.  GOVERNING
      LAW.
      THIS
      AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
      OF
      THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF
      OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

     

    Section
      5.5.  Recordation
      of Agreement.
      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 properties subject
      to
      the Mortgages are situated, and in any other appropriate public recording office
      or elsewhere, such recordation to be effected by the Depositor and at the
      Trust’s expense, but only upon direction accompanied by an Opinion of Counsel
      reasonably satisfactory to the Depositor to the effect that the failure to
      effect such recordation is likely to materially and adversely affect the
      interests of the Certificateholders.

     

    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 constitute but one and the same
      instrument.

     

    Section
      5.6.  Severability
      of Provisions.
      If any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall be for any reason whatsoever 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.

     

    [Signature
      Page Follows]

     

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    IN
      WITNESS WHEREOF, this Agreement is executed as of the date first above
      written.

     

    

    
      	
              Address:

              9062
                Old Annapolis Road

              Columbia,
                MD 21045

              Attention:
                BSMF 2006-AC1

              Telecopy:
                (410) 715-4513

              Confirmation:

            	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION, not individually but solely as
                Trustee

              By:__________________________________

              Name:

              Title: 

            
	 	 
	
              Address:

              383
                Madison Avenue

              New
                York, New York 10179

            	
              BEAR
                STEARNS ASSET BACKED SECURITIES I LLC

              By:__________________________________

              Name:  

              Title: 

            
	 	 
	
              Address:

              2780
                Lake Vista Drive, 

              Lewisville,
                Texas 75067

            	
              EMC
                MORTGAGE CORPORATION

              By:__________________________________

              Name: 

              Title: 

            
	 	 
	
              Address:

              1015
                10th Avenue S.E.

              Minneapolis,
                Minnesota 55414-0031

            	
              WELLS
                FARGO BANK, NATIONAL
                ASSOCIATION, as Custodian

               

              By:__________________________________

              Name: 

              Title: 

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    
      	
              STATE

                OF MARYLAND

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF HOWARD

            	
              )

            	 

    

    

     

    On
      the
      31st
      day of
      July 2006 before me, a notary public in and for said State, personally appeared
      _____________________, known to me to be a(n) __________________ of Wells Fargo
      Bank, National Association, a national banking association, one of the parties
      that executed the within agreement, and also known to me to be the person who
      executed the within agreement on behalf of said party and acknowledged to me
      that such party 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

            

    

    [SEAL]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    
      	
              STATE
                OF NEW YORK

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF NEW YORK

            	
              )

            	 

    

    

     

    On
      the
      31st
      day of
      July 2006 before me, a notary public in and for said State, personally appeared
      Baron Silverstein, known to me to be a Vice President of Bear Stearns Asset
      Backed Securities I LLC, and also known to me to be the person who executed
      the
      within instrument on behalf of said party, and acknowledged to me that such
      party 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

            

    

    [SEAL]

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    
      	
              STATE
                OF TEXAS

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF DALLAS

            	
              )

            	 

    

    

     

    On
      the
      31st
      day of
      July 2006 before me, a notary public in and for said State, personally appeared
      _____________________, known to me to be an authorized representative of EMC
      Mortgage Corporation, one of the parties that executed the within instrument,
      and also known to me to be the person who executed the within instrument on
      behalf of said party, and acknowledged to me that such party 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

            

    

    [Notarial
      Seal]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    
      	
              STATE
                OF MINNESOTA

            	
              )

            	 
	 	
              )

            	
              ss.:

            
	
              COUNTY
                OF___________

            	
              )

            	 

    

    

     

    On
      the
      31st
      day of
      July 2006 before me, a notary public in and for said State, personally appeared
      ___________________, known to me to be a(n) _________________of Wells Fargo
      Bank, National Association, a national banking association, one of the parties
      that executed the within instrument, and also known to me to be the person
      who
      executed it on behalf of said party, and acknowledged to me that such party
      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

            

    

    [Notarial
      Seal]

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      ONE

     

    FORM
      OF
      CUSTODIAN INITIAL CERTIFICATION

     

                                July
      31,
      2006

     

    Wells
      Fargo Bank, National Association

    9062
      Old
      Annapolis Road

    Columbia,
      MD 21045

     

    EMC
      Mortgage Corporation

    2780
      Lake
      Vista Drive, 

    Lewisville,
      Texas 75067

     

    Attention:
      Bear Stearns Mortgage Funding Trust 2006-AC1, Series 2006-AC1

     

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of July 31, 2006, by and among Bear Stearns Asset
                Backed Securities I LLC, EMC Mortgage Corporation and Wells Fargo
                Bank,
                National Association relating to Bear Stearns Mortgage Funding Trust
                2006-AC1, Asset-Backed
                Certificates, Series 2006-AC1

            

    

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 2.3(a) of the above-captioned Custodial Agreement,
      and
      subject to Section 2.02(a) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      (which contains an original Mortgage Note or lost note affidavit) to the extent
      required in Section 2.01 of the Pooling and Servicing Agreement with respect
      to
      each Mortgage Loan listed in the Mortgage Loan Schedule, with any exceptions
      listed on Schedule A attached hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement.

     

    
      	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      A

     

    (PROVIDED
      UPON REQUEST)

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      TWO

     

    FORM
      OF
      CUSTODIAN INTERIM CERTIFICATION

     

                                    [DATE]

     

    Wells
      Fargo Bank, National Association

    9062
      Old
      Annapolis Road

    Columbia,
      MD 21045

    

    EMC
      Mortgage Corporation

    2780
      Lake
      Vista Drive, 

    Lewisville,
      Texas 75067

     

    Attention:
      Bear Stearns Mortgage Funding Trust 2006-AC1, Series 2006-AC1

     

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of July 31, 2006, by and among Bear Stearns Asset
                Backed Securities I LLC, EMC Mortgage Corporation and Wells Fargo
                Bank,
                National Association relating to Bear Stearns Mortgage Funding Trust
                2006-AC1, Asset-Backed
                Certificates, Series 2006-AC1

            

    

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 2.3(b) of the above-captioned Custodial Agreement and
      subject to Section 2.02(a) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      to the extent required pursuant to Section 2.01 of the Pooling and Servicing
      Agreement with respect to each Mortgage Loan listed in the Mortgage Loan
      Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule
      and has determined that: all required documents have been executed and received
      and that such documents relate to the Mortgage Loans identified on the Mortgage
      Loan Schedule, with any exceptions listed on Schedule A attached
      hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement.

     

    

     

    
      	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      A

    

    (PROVIDED
      UPON REQUEST)

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      THREE

     

    FORM
      OF
      CUSTODIAN FINAL CERTIFICATION

     

                        [DATE]

     

    Wells
      Fargo Bank, National Association

    9062
      Old
      Annapolis Road

    Columbia,
      MD 21045

    

    EMC
      Mortgage Corporation

    2780
      Lake
      Vista Drive, 

    Lewisville,
      Texas 75067

     

    Attention:
      Mortgage Funding Trust 2006-AC1, Series 2006-AC1

     

    
      	
              Re:

            	
              Custodial
                Agreement, dated as of July 31, 2006, by and among Bear Stearns Asset
                Backed Securities I LLC, EMC Mortgage Corporation and Wells Fargo
                Bank,
                National Association relating to Bear Stearns Mortgage Funding Trust
                2006-AC1, Asset-Backed
                Certificates, Series 2006-AC1

            

    

     

    In
      accordance with Section 2.3(c) of the above-captioned Custodial Agreement
and,
      subject to Section 2.02(b) of the Pooling and Servicing Agreement, the
      undersigned, as Custodian, hereby certifies that it has received a Mortgage
      File
      to the extent required pursuant to Section 2.01 of the Pooling and Servicing
      Agreement with respect to each Mortgage Loan listed in the Mortgage Loan
      Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule
      and has determined that: all required documents have been executed and received
      and that such documents relate to the Mortgage Loans identified on the Mortgage
      Loan Schedule, with any exceptions listed on Schedule A attached
      hereto.

     

    Capitalized
      words and phrases used herein shall have the respective meanings assigned to
      them in the above-captioned Custodial Agreement or in the Pooling and Servicing
      Agreement, as applicable.

     

    

     

    
      	
              WELLS
                FARGO BANK, NATIONAL ASSOCIATION

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      A

    

    (PROVIDED
      UPON REQUEST)

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      FOUR

    

    SERVICING
      CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

    

    The
      assessment of compliance to be delivered by the Custodian shall address, at
      a
      minimum, the criteria identified below as “Applicable Servicing
      Criteria”:

    

    
      	
               

              Servicing
                Criteria

            	
              Applicable

              Servicing
                Criteria

            
	
              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 pool assets 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 pool assets 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 institutions” 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
                reconciliations; 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.

            	 
	 	
               

              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 pool assets 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 pool assets is maintained as required by the transaction
                agreements or related asset pool documents.

            	
              √

            
	
               

              1122(d)(4)(ii)

            	
              Pool
                assets 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 pool assets, including any payoffs, made in accordance with the
                related
                pool asset 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 pool asset documents.

            	 
	
               

              1122(d)(4)(v)

            	
              The
                servicer’s records regarding the pool assets 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 pool asset (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 of recovery actions (e.g., forbearance plans, modifications
                and
                deed 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
                documents.

            	 
	
               

               

               

               

               

               

               

              1122(d)(4)(viii)

            	
              Records
                documenting collection efforts are maintained during the period a
                pool
                asset is delinquent in accordance with the transaction agreements.,
                Such
                records are maintained in at least a monthly basis, or such other
                period
                specified in the transaction agreements, and describe the entity’s
                activities in monitoring delinquent pool assets 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 pool assets with variable
                rates
                are computed based on the related pool asset 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 pool asset 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 pool asset documents and
                state
                laws; and (C) such funds are returned to the obligor within 3- calendar
                days of full repayment of the related pool asset, 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 ore 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 service 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 funds 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.

            	 

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      K

    

    FORM
      OF BACK-UP CERTIFICATION
      TO FORM 10-K CERTIFICATE

     

    The
      [         ]
      agreement dated as
      of [    
],
      200[  ] (the “Agreement”), among [IDENTIFY PARTIES]

    

    I,
      ________________________________, the _______________________ of [NAME OF
      COMPANY], certify to [the Purchaser], [the Depositor], and the [Master Servicer]
      [Trustee], and their officers, with the knowledge and intent that they will
      rely
      upon this certification, that:

     

    (1) I
      have
      reviewed the servicer compliance statement of the Company provided in accordance
      with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
      assessment of the Company’s compliance with the servicing criteria set forth in
      Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
      with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
      (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
      Assessment”), the registered public accounting firm’s attestation report
      provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
      and
      Section 1122(b) of Regulation AB (the “Attestation
      Report”), and all servicing reports, officer’s certificates and other
      information relating to the servicing of the Mortgage Loans by the Company
      during 200[ ] that were delivered by the Company to the [Depositor] [Master
      Servicer] [Trustee] pursuant to the Agreement (collectively, the “Company
      Servicing Information”);

     

    (2) Based
      on
      my knowledge, the Company Servicing Information, taken as a whole, does not
      contain any untrue statement of a material fact or omit to state a material
      fact
      necessary to make the statements made, in the light of the circumstances under
      which such statements were made, not misleading with respect to the period
      of
      time covered by the Company Servicing Information;

     

    (3) Based
      on
      my knowledge, all of the Company Servicing Information required to be provided
      by the Company under the Agreement has been provided to the [Depositor] [Master
      Servicer] [Trustee];

     

    (4) I
      am
      responsible for reviewing the activities performed by the Company as servicer
      under the Agreement, and based on my knowledge and the compliance review
      conducted in preparing the Compliance Statement and except as disclosed in
      the
      Compliance Statement, the Servicing Assessment or the Attestation Report, the
      Company has fulfilled its obligations under the Agreement in all material
      respects; and

     

    (5) The
      Compliance Statement required to be delivered by the Company pursuant to the
      Agreement, and the Servicing Assessment and Attestation Report required to
      be
      provided by the Company and by any Subservicer or Subcontractor pursuant to
      the
      Agreement, have been provided to the [Depositor] [Master Servicer]. Any material
      instances of noncompliance described in such reports have been disclosed to
      the
      [Depositor] [Master Servicer]. Any material instance of noncompliance with
      the
      Servicing Criteria has been disclosed in such reports.

     

    
      	
              Date:

            	
              _________________________

            
	 	 
	
              By:

            	 
	
              Name:
                

            	
              ________________________________
                

            
	
              Title:
                

            	
              ________________________________

            

    

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      L

    

    FORM
      OF MORTGAGE
      LOAN PURCHASE AGREEMENT

     

    MORTGAGE
      LOAN PURCHASE AGREEMENT, dated as of July 31, 2006, as amended and supplemented
      by any and all amendments hereto (collectively, “this
      Agreement”),
      by
      and between EMC MORTGAGE CORPORATION, a Delaware corporation (“EMC”
or
      the
“Mortgage
      Loan Seller”),
      and
      BEAR STEARNS ASSET BACKED SECURITIES I LLC, a Delaware limited liability company
      (the “Purchaser”).

     

    Upon
      the
      terms and subject to the conditions of this Agreement, the Mortgage Loan Seller
      agrees to sell, and the Purchaser agrees to purchase, certain conventional,
      fixed rate, first lien mortgage loans secured by one- to four-family residences
      (collectively, the “Mortgage
      Loans”)
      as
      described herein. The Purchaser intends to deposit the Mortgage Loans into
      a
      trust fund (the “Trust
      Fund”)
      and
      create Bear Stearns Mortgage Funding Trust 2006-AC1, Asset-Backed Certificates,
      Series 2006-AC1 (the “Certificates”),
      under
      a pooling and servicing agreement, to be dated as of July 1, 2006 (the
“Pooling
      and Servicing Agreement”),
      among
      the Purchaser, as depositor, the Mortgage Loan Seller, as seller and master
      servicer (the “Master
      Servicer”),
      and
      Wells Fargo Bank, National Association, as trustee (the “Trustee”).

     

    The
      Purchaser has filed with the Securities and Exchange Commission (the
“Commission”)
      a
      registration statement on Form S-3 (Number 333-131374) relating to its
      Asset-Backed Certificates and the offering of certain series thereof (including
      certain classes of the Certificates) from time to time in accordance with Rule
      415 under the Securities Act of 1933, as amended, and the rules and regulations
      of the Commission promulgated thereunder (the “Securities
      Act”).
      Such
      registration statement, when it became effective under the Securities Act,
      and
      the prospectus relating to the public offering of certain classes of the
      Certificates by the Purchaser (the “Public
      Offering”),
      as
      each may be amended or supplemented from time to time pursuant to the Securities
      Act or otherwise, are referred to herein as the “Registration
      Statement”
and
      the
“Prospectus”,
      respectively. The “Term
      Sheet Supplement”
shall
      mean the term sheet supplement dated July 18, 2006, relating to certain classes
      of the Certificates. The “Prospectus
      Supplement”
shall
      mean that supplement, dated July 27, 2006, to the Prospectus, dated June 7,
      2006, relating to certain classes of the Certificates. With respect to the
      Public Offering of certain classes of the Certificates, the Purchaser and Bear,
      Stearns & Co. Inc. (“Bear
      Stearns”)
      have
      entered into a terms agreement, dated as of July 18, 2006, to an underwriting
      agreement, dated April 13, 2006, between the Purchaser and Bear Stearns
      (together, the “Underwriting
      Agreement”).

     

    Now,
      therefore, in consideration of the premises and the mutual agreements set forth
      herein, the parties hereto agree as follows:

     

    SECTION
      1.  Definitions.
      Certain
      terms are defined herein. Capitalized terms used herein but not defined herein
      shall have the meanings specified in the Pooling and Servicing Agreement. The
      following other terms are defined as follows:

     

    Acquisition
      Price:
      Cash in
      an amount equal to $            
      *             
      (plus
      $        *       
      in
      accrued interest), and the Retained Certificates.

     

    Bear
      Stearns:
      Bear,
      Stearns & Co. Inc.

     

    Closing
      Date:
      July
      31, 2006.

     

    Custodial
      Agreement:
      An
      agreement, dated as of July 31, 2006 among the Depositor, the Mortgage Loan
      Seller, the Trustee, the Master Servicer and the Custodian.

     

    Cut-off
      Date Balance:
      Shall
      mean $246,386,026.04.

     

    Deleted
      Mortgage Loan:
      A
      Mortgage Loan replaced or to be replaced by a Replacement Mortgage
      Loan.

     

    Due
      Date:
      With
      respect to each Mortgage Loan, the date in each month on which its scheduled
      payment is due, as set forth in the related Mortgage Note.

     

    MERS:
      Mortgage Electronic Registration Systems, Inc., a corporation organized and
      existing under the laws of the State of Delaware, or any successor
      thereto.

     

    MERS®
      System:
      The
      system of recording transfers of Mortgages electronically maintained by
      MERS.

     

    MOM
      Loan:
      With
      respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage
      Loan, solely as nominee for the originator of such Mortgage Loan and its
      successors and assigns, at the origination thereof.

     

    Moody’s:
      Moody’s
      Investors Service, Inc., or its successors in interest.

     

    Mortgage:
      The
      mortgage or deed of trust creating a first lien on an interest in real property
      securing a Mortgage Note.

     

    Mortgage
      File:
      The
      items referred to in Exhibit
      1
      pertaining to a particular Mortgage Loan and any additional documents required
      to be added to such documents pursuant to this Agreement.

     

    Mortgage
      Rate:
      The
      annual rate of interest borne by a Mortgage Note as stated therein.

     

    Mortgagor:
      The
      obligor(s) on a Mortgage Note.

     

    Net
      Mortgage Rate:
      For
      each Mortgage Loan, the Mortgage Rate for such Mortgage Loan less (i) the Master
      Servicing Fee Rate, (ii) the Servicing Fee Rate and (ii) the rate at which
      the
      LPMI Fee is calculated, if applicable.

     

     

    
      

      
        * Please
          contact Bear Stearns for pricing information.

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

    

    Opinion
      of Counsel:
      A
      written opinion of counsel, who may be counsel for the Mortgage Loan Seller
      or
      the Purchaser, reasonably acceptable to the Trustee.

     

    Person:
      Any
      legal person, including any individual, corporation, partnership, joint venture,
      association, joint stock company, trust, unincorporated organization or
      government or any agency or political subdivision thereof.

     

    Purchase
      Price:
      With
      respect to any Mortgage Loan required to be purchased by the Mortgage Loan
      Seller pursuant to the applicable provisions of this Agreement, an amount equal
      to the sum of (i) 100% of the principal remaining unpaid on such Mortgage Loan
      as of the date of purchase (including if a foreclosure has already occurred,
      the
      principal balance of the related Mortgage Loan at the time the Mortgaged
      Property was acquired), (ii) accrued and unpaid interest thereon at the Mortgage
      Rate through and including the last day of the month of purchase and (iii)
      any
      costs and damages (if any) incurred by the Trust in connection with any
      violation of such Mortgage Loan of any anti-predatory lending laws.

     

    Rating
      Agencies:
      Standard & Poor’s and Moody’s, each a “Rating
      Agency”.

     

    Replacement
      Mortgage Loan:
      A
      mortgage loan substituted for a Deleted

    Mortgage
      Loan which must meet on the date of such substitution the requirements stated
      herein and in the Pooling and Servicing Agreement; upon such substitution,
      such
      mortgage loan shall be a “Mortgage Loan” hereunder.

    

    Securities
      Act:
      The
      Securities Act of 1933, as amended.

     

    Standard
      & Poor’s:
      Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or its
      successors in interest.

     

    Transaction
      Documents:
      This Agreement, the Pooling and Servicing Agreement, the Custodial Agreement
      and
      the Underwriting Agreement.

     

    Value:
      The
      value of the Mortgaged Property at the time of origination of the related
      Mortgage Loan, such value being the lesser of (i) the value of such property
      set
      forth in an appraisal accepted by the applicable originator of the Mortgage
      Loan
      or (ii) the sales price of such property at the time of
      origination.

     

    Wells
      Fargo:
      Wells
      Fargo Bank, National Association.

     

    SECTION
      2.  Purchase
      and Sale of the Mortgage Loans and Related Rights.
      

     

    (a)  Upon
      satisfaction of the conditions set forth in Section 10 hereof, the Mortgage
      Loan
      Seller agrees to sell, and the Purchaser agrees to purchase Mortgage Loans
      sold
      by the Mortgage Loan Seller having an aggregate outstanding principal balance
      as
      of the Cut-off Date equal to the related Cut-off Date Balance.

     

    (b)  The
      closing for the purchase and sale of the Mortgage Loans and the closing for
      the
      issuance of the Certificates will take place on the Closing Date at the office
      of the Purchaser’s counsel in New York, New York or such other place as the
      parties shall agree.

     

    (c)  Upon
      the
      satisfaction of the conditions set forth in Section 10 hereof, on the Closing
      Date, the Purchaser shall pay to the Mortgage Loan Seller the Acquisition Price
      for the Mortgage Loans sold by the Mortgage Loan Seller in immediately available
      funds by wire transfer to such account or accounts as shall be designated by
      the
      Mortgage Loan Seller.

     

    (d)  In
      addition to the foregoing, on the Closing Date the Mortgage Loan Seller assigns
      to the Purchaser all of its right, title and interest in the Servicing
      Agreements.

     

    SECTION
      3.  Mortgage
      Loan Schedules.
      The
      Mortgage Loan Seller agrees to provide to the Purchaser as of the date hereof
      a
      preliminary listing of the Mortgage Loans (the “Preliminary Mortgage Loan
      Schedule”) setting forth the information listed on Exhibit
      2
      to this
      Agreement with respect to each of the Mortgage Loans being sold by the Mortgage
      Loan Seller. If there are changes to the Preliminary Mortgage Loan Schedule,
      the
      Mortgage Loan Seller shall provide to the Purchaser as of the Closing Date
      a
      final schedule (the “Final Mortgage Loan Schedule”) setting forth the
      information listed on Exhibit
      2
      to this
      Agreement with respect to each of the Mortgage Loans being sold by the Mortgage
      Loan Seller to the Purchaser. The Final Mortgage Loan Schedule shall be
      delivered to the Purchaser on the Closing Date, shall be attached to an
      amendment to this Agreement to be executed on the Closing Date by the parties
      hereto and shall be in form and substance mutually agreed to by the Mortgage
      Loan Seller and the Purchaser (the “Amendment”). If there are no changes to the
      Preliminary Mortgage Loan Schedule, the Preliminary Mortgage Loan Schedule
      shall
      be the Final Mortgage Loan Schedule for all purposes hereof.

     

    SECTION
      4.  Mortgage
      Loan Transfer.

     

    (a)  The
      Purchaser will be entitled to all scheduled payments of principal and interest
      on the Mortgage Loans due after the Cut-off Date (regardless of when actually
      collected) and all payments thereof. The Mortgage Loan Seller will be entitled
      to all scheduled payments of principal and interest on the Mortgage Loans due
      on
      or before the Cut-off Date (including payments collected after the Cut-off
      Date)
      and all payments thereof. Such principal amounts and any interest thereon
      belonging to the Mortgage Loan Seller as described above will not be included
      in
      the aggregate outstanding principal balance of the Mortgage Loans as of the
      Cut-off Date as set forth on the Final Mortgage Loan Schedule.

     

    (b)  Pursuant
      to various conveyancing documents to be executed on the Closing Date and
      pursuant to the Pooling and Servicing Agreement, the Purchaser will assign
      on
      the Closing Date all of its right, title and interest in and to the Mortgage
      Loans to the Trustee for the benefit of the Certificateholders. In connection
      with the transfer and assignment of the Mortgage Loans, the Mortgage Loan Seller
      has delivered or will deliver or cause to be delivered to the Trustee or the
      Custodian on behalf of the Trustee by the Closing Date or such later date as
      is
      agreed to by the Purchaser and the Mortgage Loan Seller (each of the Closing
      Date and such later date is referred to as a “Mortgage
      File Delivery Date”),
      the
      items of each Mortgage File, provided,
      however,
      that in
      lieu of the foregoing, the Mortgage Loan Seller may deliver the following
      documents, under the circumstances set forth below: (x) in lieu of the original
      Mortgage, assignments to the Trustee or intervening assignments thereof which
      have been delivered, are being delivered or will upon receipt of recording
      information relating to the Mortgage required to be included thereon, be
      delivered to recording offices for recording and have not been returned in
      time
      to permit their delivery as specified above, the Mortgage Loan Seller may
      deliver a true copy thereof with a certification by the Mortgage Loan Seller
      or
      the Master Servicer, on the face of such copy, substantially as follows:
“Certified to be a true and correct copy of the original, which has been
      transmitted for recording;” (y) in lieu of the Mortgage, assignments to the
      Trustee or intervening assignments thereof, if the applicable jurisdiction
      retains the originals of such documents or if the originals are lost (in each
      case, as evidenced by a certification from the Mortgage Loan Seller or the
      Master Servicer to such effect), the Mortgage Loan Seller may deliver
      photocopies of such documents containing an original certification by the
      judicial or other governmental authority of the jurisdiction where such
      documents were recorded; and (z) in lieu of the Mortgage Notes relating to
      the
      Mortgage Loans, each identified in the list delivered by the Purchaser to the
      Trustee on the Closing Date and attached hereto as Exhibit
      5
      the
      Mortgage Loan Seller may deliver lost note affidavits and indemnities of the
      Mortgage Loan Seller; and provided further, however, that in the case of
      Mortgage Loans which have been prepaid in full after the Cut-off Date and prior
      to the Closing Date, the Mortgage Loan Seller, in lieu of delivering the above
      documents, may deliver to the Trustee a certification by the Mortgage Loan
      Seller or the Master Servicer to such effect. The Mortgage Loan Seller shall
      deliver such original documents (including any original documents as to which
      certified copies had previously been delivered) or such certified copies to
      the
      Trustee, or the Custodian on behalf of the Trustee, promptly after they are
      received. The Mortgage Loan Seller shall cause the Mortgage and intervening
      assignments, if any, and the assignment of the Mortgage to be recorded not
      later
      than 180 days after the Closing Date unless such assignment is not required
      to
      be recorded under the terms set forth in Section 6(a) hereof.

     

    (c)  In
      connection with the assignment of any Mortgage Loan registered on the MERS®
System, the Mortgage Loan Seller further agrees that it will cause, at the
      Mortgage Loan Seller’s own expense, within 30 days after the Closing Date, the
      MERS® System to indicate that such Mortgage Loans have been assigned by the
      Mortgage Loan Seller to the Purchaser and by the Purchaser to the Trustee in
      accordance with this Agreement for the benefit of the Certificateholders by
      including (or deleting, in the case of Mortgage Loans which are repurchased
      in
      accordance with this Agreement) in such computer files (a) the code in the
      field
      which identifies the specific Trustee and (b) the code in the field “Pool Field”
which identifies the series of the Certificates issued in connection with such
      Mortgage Loans. The Mortgage Loan Seller further agrees that it will not, and
      will not permit any Servicer or the Master Servicer to, and the Master Servicer
      agrees that it will not, alter the codes referenced in this paragraph with
      respect to any Mortgage Loan during the term of the Pooling and Servicing
      Agreement unless and until such Mortgage Loan is repurchased in accordance
      with
      the terms of the Pooling and Servicing Agreement.

     

    (d)  The
      Mortgage Loan Seller and the Purchaser acknowledge hereunder that all of the
      Mortgage Loans and the related servicing, will ultimately be assigned to Wells
      Fargo Bank, National Association, as Trustee for the benefit of the
      Certificateholders, on the date hereof.

     

    SECTION
      5.  Examination
      of Mortgage Files.

     

    (a)  On
      or
      before the Mortgage File Delivery Date, the Mortgage Loan Seller will have
      made
      the Mortgage Files available to the Purchaser or its agent for examination
      which
      may be at the offices of the Trustee or the Mortgage Loan Seller and/or the
      Mortgage Loan Seller’s custodian. The fact that the Purchaser or its agent has
      conducted or has failed to conduct any partial or complete examination of the
      Mortgage Files shall not affect the Purchaser’s rights to demand cure,
      repurchase, substitution or other relief as provided in this Agreement. In
      furtherance of the foregoing, the Mortgage Loan Seller shall make the Mortgage
      Files available to the Purchaser or its agent from time to time so as to permit
      the Purchaser to confirm the Mortgage Loan Seller’s compliance with the delivery
      and recordation requirements of this Agreement and the Pooling and Servicing
      Agreement. In addition, upon request of the Purchaser, the Mortgage Loan Seller
      agrees to provide to the Purchaser, Bear Stearns and to any investors or
      prospective investors in the Certificates information regarding the Mortgage
      Loans and their servicing, to make the Mortgage Files available to the
      Purchaser, Bear Stearns and to such investors or prospective investors (which
      may be at the offices of the Mortgage Loan Seller and/or the Mortgage Loan
      Seller’s custodian) and to make available personnel knowledgeable about the
      Mortgage Loans for discussions with the Purchaser, Bear Stearns and such
      investors or prospective investors, upon reasonable request during regular
      business hours, sufficient to permit the Purchaser, Bear Stearns and such
      investors or potential investors to conduct such due diligence as any such
      party
      reasonably believes is appropriate.

     

    (b)  Pursuant
      to the Pooling and Servicing Agreement, on the Closing Date the Trustee (or
      the
      Custodian as obligated under the Custodial Agreement), for the benefit of the
      Certificateholders, will review items of the Mortgage Files as set forth on
      Exhibit
      1
      and will
      deliver to the Mortgage Loan Seller an initial certification in the form
      attached as Exhibit One to the Custodial Agreement.

     

    (c)  Within
      90
      days of the Closing Date, the Trustee or the Custodian on its behalf shall,
      in
      accordance with the provisions of Section 2.02 of the Pooling and Servicing
      Agreement, deliver to the Mortgage Loan Seller and the Trustee an Interim
      Certification in the form attached as Exhibit Two to the Custodial Agreement
      to
      the effect that all such documents have been executed and received and that
      such
      documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule,
      except for any exceptions listed on Schedule A attached to such Interim
      Certification. The Custodian shall be under no duty or obligation to inspect,
      review or examine said documents, instruments, certificates or other papers
      to
      determine that the same 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.

     

    (d)  The
      Trustee or the Custodian on its behalf will review the Mortgage Files within
      180
      days of the Closing Date and will deliver to the Mortgage Loan Seller and the
      Master Servicer, and if reviewed by the Custodian, the Trustee, a final
      certification substantially in the form of Exhibit Three to the Custodial
      Agreement. If the Trustee or the Custodian on its behalf is unable to deliver
      a
      final certification with respect to the items listed in Exhibit
      1
      due to
      any document that is missing, has not been executed, is unrelated, determined
      on
      the basis of the Mortgagor name, original principal balance and loan number,
      to
      the Mortgage Loans identified in the Final Mortgage Loan Schedule (a
“Material
      Defect”),
      the
      Trustee or the Custodian on its behalf shall notify the Mortgage Loan Seller
      of
      such Material Defect. The Mortgage Loan Seller (on its own behalf as a Mortgage
      Loan Seller) shall correct or cure any such Material Defect within 90 days
      from
      the date of notice from the Trustee of the Material Defect and if the Mortgage
      Loan Seller does not correct or cure such Material Defect within such period
      and
      such defect materially and adversely affects the interests of the
      Certificateholders in the related Mortgage Loan, the Mortgage Loan Seller will,
      in accordance with the terms of the Pooling and Servicing Agreement, within
      90
      days of the date of notice, provide the Trustee with a Replacement Mortgage
      Loan
      (if within two years of the Closing Date) or purchase the related Mortgage
      Loan
      at the applicable Purchase Price; provided,
      however,
      that if
      such defect relates solely to the inability of the Mortgage Loan Seller to
      deliver the original security instrument or intervening assignments thereof,
      or
      a certified copy because the originals of such documents, or a certified copy,
      have not been returned by the applicable jurisdiction, the Mortgage Loan Seller
      shall not be required to purchase such Mortgage Loan if the Mortgage Loan Seller
      delivers such original documents or certified copy promptly upon receipt, but
      in
      no event later than 360 days after the Closing Date. The foregoing repurchase
      obligation shall not apply in the event that the Mortgage Loan Seller cannot
      deliver such original or copy of any document submitted for recording to the
      appropriate recording office in the applicable jurisdiction because such
      document has not been returned by such office; provided that the Mortgage Loan
      Seller shall instead deliver a recording receipt of such recording office or,
      if
      such receipt is not available, a certificate of Mortgage Loan Seller or a
      Servicing Officer confirming that such documents have been accepted for
      recording, and delivery to the Trustee shall be effected by the Mortgage Loan
      Seller within thirty days of its receipt of the original recorded
      document.

     

    (e)  At
      the
      time of any substitution, the Mortgage Loan Seller shall deliver or cause to
      be
      delivered the Replacement Mortgage Loan, the related Mortgage File and any
      other
      documents and payments required to be delivered in connection with a
      substitution pursuant to the Pooling and Servicing Agreement. At the time of
      any
      purchase or substitution, the Trustee shall (i) assign the selected Mortgage
      Loan to the Mortgage Loan Seller and shall release or cause the Custodian to
      release the documents (including, but not limited to the Mortgage, Mortgage
      Note
      and other contents of the Mortgage File) in the possession of the Trustee or
      the
      Custodian, as applicable relating to the Deleted Mortgage Loan and (ii) execute
      and deliver such instruments of transfer or assignment, in each case without
      recourse, as shall be necessary to vest in the Mortgage Loan Seller title to
      such Deleted Mortgage Loan.

     

    SECTION
      6.  Recordation
      of Assignments of Mortgage.

     

    (a)  The
      Mortgage Loan Seller will, promptly after the Closing Date, cause each Mortgage
      and each assignment of Mortgage from the Mortgage Loan Seller to the Trustee,
      and all unrecorded intervening assignments, if any, delivered on or prior to
      the
      Closing Date, to be recorded in all recording offices in the jurisdictions
      where
      the related Mortgaged Properties are located; provided,
      however,
      the
      Mortgage Loan Seller need not cause to be recorded any assignment which relates
      to a Mortgage Loan that is a MOM Loan or for which the related Mortgaged
      Property is located in any jurisdiction under the laws of which, as evidenced
      by
      an Opinion of Counsel delivered by the Mortgage Loan Seller to the Trustee
      and
      the Rating Agencies, the recordation of such assignment is not necessary to
      protect the Trustee’s interest in the related Mortgage Loan; provided,
      however,
      notwithstanding the delivery of any Opinion of Counsel, each assignment of
      Mortgage shall be submitted for recording by the Mortgage Loan Seller in the
      manner described above, at no expense to the Trust Fund or Trustee, upon the
      earliest to occur of (i) reasonable direction by the Holders of Certificates
      evidencing Percentage Interests aggregating not less than 25% of the Trust,
      (ii)
      the occurrence of a Company Default, (iii) the occurrence of a bankruptcy,
      insolvency or foreclosure relating to the Mortgage Loan Seller under the Pooling
      and Servicing Agreement, (iv) the occurrence of a servicing transfer as
      described in Section 9.05 of the Pooling and Servicing Agreement or an
      assignment of the servicing as described in Section 8.05(b) of the Pooling
      and
      Servicing Agreement or (iv) with respect to any one assignment of Mortgage,
      the
      occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgagor
      under the related Mortgage.

     

    While
      each such Mortgage or assignment is being recorded, if necessary, the Mortgage
      Loan Seller shall leave or cause to be left with the Trustee or the Custodian
      on
      its behalf a certified copy of such Mortgage or assignment. In the event that,
      within 180 days of the Closing Date, the Trustee has not been provided with
      an
      Opinion of Counsel as described above or received evidence of recording with
      respect to each Mortgage Loan delivered to the Purchaser pursuant to the terms
      hereof or as set forth above and the related Mortgage Loan is not a MOM Loan,
      the failure to provide evidence of recording or such Opinion of Counsel shall
      be
      considered a Material Defect, and the provisions of Section 5(c) and (d) shall
      apply. All customary recording fees and reasonable expenses relating to the
      recordation of the assignments of mortgage to the Trustee or the Opinion of
      Counsel, as the case may be, shall be borne by the Mortgage Loan
      Seller.

     

    (b)  It
      is the
      express intent of the parties hereto that the conveyance of the Mortgage Loans
      by the Mortgage Loan Seller to the Purchaser, as contemplated by this Agreement
      be, and be treated as, a sale. It is, further, not the intention of the parties
      that such conveyance be deemed a pledge of the Mortgage Loans by the Mortgage
      Loan Seller to the Purchaser to secure a debt or other obligation of the
      Mortgage Loan Seller. However, in the event that, notwithstanding the intent
      of
      the parties, the Mortgage Loans are held by a court to continue to be property
      of the Mortgage Loan Seller, then (a) this Agreement shall also be deemed to
      be
      a security agreement within the meaning of Articles 8 and 9 of the applicable
      Uniform Commercial Code; (b) the transfer of the Mortgage Loans provided for
      herein shall be deemed to be a grant by the Mortgage Loan Seller to the
      Purchaser of a security interest in all of the Mortgage Loan Seller’s right,
      title and interest in and to the Mortgage Loans and all amounts payable to
      the
      holders of the Mortgage Loans in accordance with the terms thereof and all
      proceeds of the conversion, voluntary or involuntary, of the foregoing into
      cash, instruments, securities or other property, to the extent the Purchaser
      would otherwise be entitled to own such Mortgage Loans and proceeds pursuant
      to
      Section 4 hereof, including all amounts, other than investment earnings, from
      time to time held or invested in any accounts created pursuant to the Pooling
      and Servicing Agreement, whether in the form of cash, instruments, securities
      or
      other property; (c) the possession by the Purchaser or the Trustee (or the
      Custodian on its behalf) of Mortgage Notes and such other items of property
      as
      constitute instruments, money, negotiable documents or chattel paper shall
      be
      deemed to be “possession by the secured party” for purposes of perfecting the
      security interest pursuant to Section 9-305 (or comparable provision) of the
      applicable Uniform Commercial Code; and (d) notifications to persons holding
      such property, and acknowledgments, receipts or confirmations from persons
      holding such property, shall be deemed notifications to, or acknowledgments,
      receipts or confirmations from, financial intermediaries, bailees or agents
      (as
      applicable) of the Purchaser for the purpose of perfecting such security
      interest under applicable law. Any assignment of the interest of the Purchaser
      pursuant to any provision hereof or pursuant to the Pooling and Servicing
      Agreement shall also be deemed to be an assignment of any security interest
      created hereby. The Mortgage Loan Seller and the Purchaser shall, to the extent
      consistent with this Agreement, take such actions as may be reasonably necessary
      to ensure that, if this Agreement were deemed to create a security interest
      in
      the Mortgage Loans, such security interest would be deemed to be a perfected
      security interest of first priority under applicable law and will be maintained
      as such throughout the term of the Pooling and Servicing Agreement.

     

    SECTION
      7.  Representations
      and Warranties of the Mortgage Loan Seller Concerning the Mortgage
      Loans.
      The
      Mortgage Loan Seller hereby represents and warrants to the Purchaser as of
      the
      Closing Date or such other date as may be specified below with respect to each
      Mortgage Loan being sold by it, that:

     

    (a)  The
      information set forth in the Mortgage Loan Schedule hereto is true and correct
      in all material respects.

     

    (b)  Immediately
      prior to the transfer to the Purchaser, the Mortgage Loan Seller was the sole
      owner of beneficial title and holder of each Mortgage and Mortgage Note relating
      to the Mortgage Loans and is conveying the same free and clear of any and all
      liens, claims, encumbrances, participation interests, equities, pledges, charges
      or security interests of any nature and the Mortgage Loan Seller has full right
      and authority to sell or assign the same pursuant to this
      Agreement.

     

    (c)  Each
      Mortgage Loan at the time it was made complied in all material respects with
      all
      applicable federal, state and local laws and regulations, including, without
      limitation, usury, equal credit opportunity, disclosure and recording laws
      and
      all applicable predatory, abusive and fair lending laws; and each Mortgage
      Loan
      has been serviced in all material respects in accordance with all applicable
      laws and regulations, including, without limitation, usury, equal credit
      opportunity, disclosure and recording laws and all applicable anti-predatory
      lending laws and the terms of the related Mortgage Note, the Mortgage and other
      loan documents.

     

    (d)  There
      is
      no monetary default existing under any Mortgage or the related Mortgage Note
      and
      there is no material event which, with the passage of time or with notice and
      the expiration of any grace or cure period, would constitute a default, breach
      or event of acceleration; and neither the Mortgage Loan Seller, any of its
      affiliates nor any servicer of any related Mortgage Loan has taken any action
      to
      waive any default, breach or event of acceleration; and no foreclosure action
      is
      threatened or has been commenced with respect to the Mortgage Loan.

     

    (e)  The
      terms
      of the Mortgage Note and the Mortgage have not been impaired, waived, altered
      or
      modified in any respect, except by written instruments, (i) if required by
      law
      in the jurisdiction where the Mortgaged Property is located, or (ii) to protect
      the interests of the Trustee on behalf of the Certificateholders.

     

    (f)  No
      selection procedure reasonably believed by the Mortgage Loan Seller to be
      adverse to the interests of the Certificateholders was utilized in selecting
      the
      Mortgage Loans.

     

    (g)  Each
      Mortgage is a valid and enforceable first or second lien on the property
      securing the related Mortgage Note and each Mortgaged Property is owned by
      the
      Mortgagor in fee simple (except with respect to common areas in the case of
      condominiums, PUDs and de minimis
      PUDs) or
      by leasehold for a term longer than the term of the related Mortgage, subject
      only to (i) the lien of current real property taxes and assessments, (ii)
      covenants, conditions and restrictions, rights of way, easements and other
      matters of public record as of the date of recording of such Mortgage, such
      exceptions being acceptable to mortgage lending institutions generally or
      specifically reflected in the appraisal obtained in connection with the
      origination of the related Mortgage Loan or referred to in the lender’s title
      insurance policy delivered to the originator of the related Mortgage Loan and
      (iii) other matters to which like properties are commonly subject which do
      not
      materially interfere with the benefits of the security intended to be provided
      by such Mortgage.

     

    (h)  There
      is
      no mechanics’ lien or claim for work, labor or material affecting the premises
      subject to any Mortgage which is or may be a lien prior to, or equal with,
      the
      lien of such Mortgage except those which are insured against by the title
      insurance policy referred to in clause (m) below.

     

    (i)  There
      was
      no delinquent tax or assessment lien against the property subject to any
      Mortgage, except where such lien was being contested in good faith and a stay
      had been granted against levying on the property.

     

    (j)  There
      is
      no valid offset, defense or counterclaim to any Mortgage Note or Mortgage,
      including the obligation of the Mortgagor to pay the unpaid principal and
      interest on such Mortgage Note.

     

    (k)  The
      physical property subject to any Mortgage is free of material damage and is
      in
      good repair and there is no proceeding pending or threatened for the total
      or
      partial condemnation of any Mortgaged Property.

     

    (l)  The
      Mortgaged Property and all improvements thereon comply with all requirements
      of
      any applicable zoning and subdivision laws and ordinances.

     

    (m)  A
      lender’s title insurance policy (on an ALTA or CLTA form) or binder, or other
      assurance of title customary in the relevant jurisdiction therefor in a form
      acceptable to Fannie Mae or Freddie Mac, was issued on the date that each
      Mortgage Loan was created by a title insurance company which, to the best of
      the
      Mortgage Loan Seller’s knowledge, was qualified to do business in the
      jurisdiction where the related Mortgaged Property is located, insuring the
      Mortgage Loan Seller and its successors and assigns that the Mortgage is a
      first
      priority lien on the related Mortgaged Property in the original principal amount
      of the Mortgage Loan. The Mortgage Loan Seller is the sole insured under such
      lender’s title insurance policy, and such policy, binder or assurance is valid
      and remains in full force and effect, and each such policy, binder or assurance
      shall contain all applicable endorsements including a negative amortization
      endorsement, if applicable.

     

    (n)  At
      the
      time of origination, each Mortgaged Property was the subject of an appraisal
      which conformed to the underwriting requirements of the originator of the
      Mortgage Loan and, the appraisal is in a form acceptable to Fannie Mae or
      Freddie Mac. 

     

    (o)  The
      improvements on each Mortgaged Property securing a Mortgage Loan are insured
      (by
      an insurer which is acceptable to the Mortgage Loan Seller) against loss by
      fire
      and such hazards as are covered under a standard extended coverage endorsement
      in the locale in which the Mortgaged Property is located, in an amount which
      is
      not less than the lesser of the maximum insurable value of the improvements
      securing such Mortgage Loan or the outstanding principal balance of the Mortgage
      Loan, but in no event in an amount less than an amount that is required to
      prevent the Mortgagor from being deemed to be a co-insurer thereunder; if the
      improvement on the Mortgaged Property is a condominium unit, it is included
      under the coverage afforded by a blanket policy for the condominium project;
      if
      upon origination of the related Mortgage Loan, the improvements on the Mortgaged
      Property were in an area identified as a federally designated flood area, a
      flood insurance policy is in effect in an amount representing coverage not
      less
      than the least of (i) the outstanding principal balance of the Mortgage Loan,
      (ii) the restorable cost of improvements located on such Mortgaged Property
      or
      (iii) the maximum coverage available under federal law; and each Mortgage
      obligates the Mortgagor thereunder to maintain the insurance referred to above
      at the Mortgagor’s cost and expense.

     

    (p)  Each
      Mortgage Loan constitutes a “qualified mortgage” under Section 860G(a)(3)(A) of
      the Code and Treasury Regulation Section 1.860G-2(a)(1), (2), (4), (5), (6),
      (7)
      and (9) without reliance on the provisions of Treasury Regulation Section
      1.860G-2(a)(3) or Treasury Regulation Section 1.860G-2(f)(2) or any other
      provision that would allow a Mortgage Loan to be treated as a “qualified
      mortgage” notwithstanding its failure to meet the requirements of Section
      860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1), (2),
      (4), (5), (6), (7) and (9).

     

    (q)  None
      of
      the Mortgage Loans are (a) loans subject to 12 CFR Part 226.31, 12 CFR Part
      226.32 or 12 CFR Part 226.34 of Regulation Z, the regulation implementing TILA,
      which implements the Home Ownership and Equity Protection Act of 1994, as
      amended or (b) “high cost home,” “covered” (excluding home loans defined as
“covered home loans” in the New Jersey Home
      Ownership Security Act of 2002 that were originated between November 26, 2003
      and July 7, 2004), “high risk home” or “predatory” loans under any applicable
      state, federal or local law (or a similarly classified loan using different
      terminology under a law imposing heightened regulatory scrutiny or additional
      legal liability for residential mortgage loans having high interest rates,
      points and/or fees).

     

    (r)  The
      information set forth in Schedule A of the Prospectus Supplement with respect
      to
      the Mortgage Loans
      is true
      and correct in all material respects.

     

    (s)  No
      Mortgage Loan (a) is a “high cost loan” or “covered loan” as applicable (as such
terms
      are
      defined in the then current Standard & Poor’s LEVELS® Glossary, which is now
      Version 5.7, Appendix E, attached hereto as Exhibit 6) or (b) was originated
      on
      or after October 1, 2002 through March 6, 2003 and is governed by the Georgia
      Fair Lending Act. 

     

    (t)  Each
      Mortgage Loan was originated in accordance with the underwriting guidelines
      of
      the related originator.

     

    (u)  Each
      original Mortgage has been recorded or is in the process of being recorded
      in
      accordance with the requirements of Section 2.01 of the Pooling and Servicing
      Agreement in the appropriate jurisdictions wherein such recordation is required
      to perfect the lien thereof for the benefit of the Trust Fund.

     

    (v)  The
      related Mortgage File contains each of the documents and instruments listed
      in
      Section 2.01 of the Pooling and Servicing Agreement, subject to any exceptions,
      substitutions and qualifications as are set forth in such Section.

     

    (w)  The
      Mortgage Loans are currently being serviced in accordance with accepted
      servicing practices.

     

    (x)  With
      respect to each Mortgage Loan that has a prepayment penalty feature, each such
      prepayment penalty is enforceable and will be enforced by the Mortgage Loan
      Seller and each prepayment penalty
      is
      permitted pursuant to federal, state and local law. In addition, with respect
      to
      each Mortgage Loan (i) no Mortgage Loan will impose a prepayment penalty for
      a
      term in excess of five years from the date such Mortgage Loan was originated
      and
      (ii) such prepayment penalty is at least equal to the lesser of (A) the maximum
      amount permitted under applicable law and (B) six months interest at the related
      Mortgage Interest Rate on the amount prepaid in excess of 20% of the original
      principal balance of such Mortgage Loan.

     

    (y)  If
      any of
      the Mortgage Loans are secured by a leasehold interest, with respect to each
      leasehold interest: the use of leasehold estates for residential properties
      is
      an accepted practice in the area where the related Mortgaged Property is
      located; residential property in such area consisting of leasehold estates
      is
      readily marketable; the lease is recorded and no party is in any way in breach
      of any provision of such lease; the leasehold is in full force and effect and
      is
      not subject to any prior lien or encumbrance by which the leasehold could be
      terminated or subject to any charge or penalty; and the remaining term of the
      lease does not terminate less than ten years after the maturity date of such
      Mortgage Loan.

     

    It
      is
      understood and agreed that the representations and warranties set forth in
      this
      Section 7 will inure to the benefit of the Purchaser, its successors and
      assigns, notwithstanding any restrictive or qualified endorsement on any
      Mortgage Note or assignment of Mortgage or the examination of any Mortgage
      File.
      Upon any substitution for a Mortgage Loan, the representations and warranties
      set forth above shall be deemed to be made by the Mortgage Loan Seller as to
      any
      Replacement Mortgage Loan as of the date of substitution.

     

    Upon
      discovery or receipt of notice by the Mortgage Loan Seller, the Purchaser or
      the
      Trustee of a breach of any representation or warranty of the Mortgage Loan
      Seller set forth in this Section 7 which materially and adversely affects the
      value of the interests of the Purchaser, the Certificateholders or the Trustee
      in any of the Mortgage Loans delivered to the Purchaser pursuant to this
      Agreement, the party discovering or receiving notice of such breach shall give
      prompt written notice to the others. In the case of any such breach of a
      representation or warranty set forth in this Section 7, within 90 days from
      the
      date of discovery by the Mortgage Loan Seller, or the date the Mortgage Loan
      Seller is notified by the party discovering or receiving notice of such breach
      (whichever occurs earlier), the Mortgage Loan Seller will (i) cure such breach
      in all material respects, (ii) purchase the affected Mortgage Loan at the
      applicable Purchase Price or (iii) if within two years of the Closing Date,
      substitute a qualifying Replacement Mortgage Loan in exchange for such Mortgage
      Loan; provided that, (A) in the case of a breach of the representation and
      warranty concerning the Mortgage Loan Schedule contained in clause (a) of this
      Section 7, if such breach is material and relates to any field on the Mortgage
      Loan Schedule which identifies any Prepayment Charge or (B) in the case of
      a
      breach of the representation contained in clause (x) of this Section 7, then,
      in
      each case, in lieu of purchasing such Mortgage Loan from the Trust Fund at
      the
      Purchase Price, the Mortgage Loan Seller shall pay the amount of the Prepayment
      Charge (net of any amount previously collected by or paid to the Trust Fund
      in
      respect of such Prepayment Charge) from its own funds and without reimbursement
      therefor, and the Mortgage Loan Seller shall have no obligation to repurchase
      or
      substitute for such Mortgage Loan. The obligations of the Mortgage Loan Seller
      to cure, purchase or substitute a qualifying Replacement Mortgage Loan shall
      constitute the Purchaser’s, the Trustee’s and the Certificateholder’s sole and
      exclusive remedy under this Agreement or otherwise respecting a breach of
      representations or warranties hereunder with respect to the Mortgage Loans,
      except for the obligation of the Mortgage Loan Seller to indemnify the Purchaser
      for such breach as set forth in and limited by Section 13 hereof.

     

    Any
      cause
      of action against the Mortgage Loan Seller or relating to or arising out of
      a
      breach by the Mortgage Loan Seller of any representations and warranties made
      in
      this Section 7 shall accrue as to any Mortgage Loan upon (i) discovery of such
      breach by the Mortgage Loan Seller or notice thereof by the party discovering
      such breach and (ii) failure by the Mortgage Loan Seller to cure such breach,
      purchase such Mortgage Loan or substitute a qualifying Replacement Mortgage
      Loan
      pursuant to the terms hereof.

     

    SECTION
      8.  Representations
      and Warranties Concerning the Mortgage Loan Seller.
      As of
      the date hereof and as of the Closing Date, the Mortgage Loan Seller represents
      and warrants to the Purchaser as to itself in the capacity indicated as
      follows:

     

    (a)  the
      Mortgage Loan Seller (i) is a corporation duly organized, validly existing
      and
      in good standing under the laws of the State of Delaware and (ii) is qualified
      and in good standing to do business in each jurisdiction where such
      qualification is necessary, except where the failure so to qualify would not
      reasonably be expected to have a material adverse effect on the Mortgage Loan
      Seller’s business as presently conducted or on the Mortgage Loan Seller’s
      ability to enter into this Agreement or any other Transaction Document to which
      it is a party and to consummate the transactions contemplated hereby or
      thereby;

     

    (b)  the
      Mortgage Loan Seller has full power to own its property, to carry on its
      business as presently conducted and to enter into and perform its obligations
      under this Agreement or any other Transaction Document to which it is a
      party;

     

    (c)  the
      execution and delivery by the Mortgage Loan Seller of this Agreement and any
      other Transaction Document to which it is a party has been duly authorized
      by
      all necessary action on the part of the Mortgage Loan Seller; and neither the
      execution and delivery of this Agreement or any other Transaction Document
      to
      which it is a party, nor the consummation of the transactions herein or therein
      contemplated, nor compliance with the provisions hereof or thereof, will
      conflict with or result in a breach of, or constitute a default under, any
      of
      the provisions of any law, governmental rule, regulation, judgment, decree
      or
      order binding on the Mortgage Loan Seller or its properties or the charter
      or
      by-laws of the Mortgage Loan Seller, except those conflicts, breaches or
      defaults which would not reasonably be expected to have a material adverse
      effect on the Mortgage Loan Seller’s ability to enter into this Agreement or any
      other Transaction Document to which it is a party and to consummate the
      transactions contemplated hereby or thereby;

     

    (d)  the
      execution, delivery and performance by the Mortgage Loan Seller of this
      Agreement and the consummation of the transactions contemplated hereby do not
      require the consent or approval of, the giving of notice to, the registration
      with, or the taking of any other action in respect of, any state, federal or
      other governmental authority or agency, except those consents, approvals,
      notices, registrations or other actions as have already been obtained, given
      or
      made and, in connection with the recordation of the Mortgages, powers of
      attorney or assignments of Mortgages not yet completed;

     

    (e)  each
      of
      this Agreement and the other Transaction Document to which it is a party has
      been duly executed and delivered by the Mortgage Loan Seller and, assuming
      due
      authorization, execution and delivery by the Purchaser, constitutes a valid
      and
      binding obligation of the Mortgage Loan Seller enforceable against it in
      accordance with its terms (subject to applicable bankruptcy and insolvency
      laws
      and other similar laws affecting the enforcement of the rights of creditors
      generally);

     

    (f)  there
      are
      no actions, suits or proceedings pending or, to the knowledge of the Mortgage
      Loan Seller, threatened against the Mortgage Loan Seller, before or by any
      court, administrative agency, arbitrator or governmental body (i) with respect
      to any of the transactions contemplated by this Agreement or any other
      Transaction Document to which it is a party or (ii) with respect to any other
      matter which in the judgment of the Mortgage Loan Seller could reasonably be
      expected to be determined adversely to the Mortgage Loan Seller and will if
      determined adversely to the Mortgage Loan Seller materially and adversely affect
      the Mortgage Loan Seller’s ability to perform its obligations under this
      Agreement or any other Transaction Document to which it is a party; and the
      Mortgage Loan Seller is not in default with respect to any order of any court,
      administrative agency, arbitrator or governmental body so as to materially
      and
      adversely affect the transactions contemplated by this Agreement;
      and

     

    (g)  the
      Mortgage Loan Seller’s Information (as defined in Section 13(a) hereof) does not
      include any untrue statement of a material fact or omit to state a material
      fact
      necessary in order to make the statements made, in light of the circumstances
      under which they were made, not misleading.

     

    SECTION
      9.  Representations
      and Warranties Concerning the Purchaser.
      As of
      the date hereof and as of the Closing Date, the Purchaser represents and
      warrants to the Mortgage Loan Seller as follows:

     

    (a)  the
      Purchaser (i) is a limited liability company duly organized, validly existing
      and in good standing under the laws of the State of Delaware and (ii) is
      qualified and in good standing to do business in each jurisdiction where such
      qualification is necessary, except where the failure so to qualify would not
      reasonably be expected to have a material adverse effect on the Purchaser’s
      business as presently conducted or on the Purchaser’s ability to enter into this
      Agreement or any other Transaction Document to which it is a party and to
      consummate the transactions contemplated hereby or thereby;

     

    (b)  the
      Purchaser has full power to own its property, to carry on its business as
      presently conducted and to enter into and perform its obligations under this
      Agreement or any other Transaction Document to which it is a party;

     

    (c)  the
      execution and delivery by the Purchaser of this Agreement or any other
      Transaction Document to which it is a party has been duly authorized by all
      necessary action on the part of the Purchaser; and neither the execution and
      delivery of this Agreement, nor the consummation of the transactions herein
      contemplated, nor compliance with the provisions hereof or thereof, will
      conflict with or result in a breach of, or constitute a default under, any
      of
      the provisions of any law, governmental rule, regulation, judgment, decree
      or
      order binding on the Purchaser or its properties or the certificate of formation
      or limited liability company agreement of the Purchaser, except those conflicts,
      breaches or defaults which would not reasonably be expected to have a material
      adverse effect on the Purchaser’s ability to enter into this Agreement or any
      other Transaction Document to which it is a party and to consummate the
      transactions contemplated hereby or thereby;

     

    (d)  the
      execution, delivery and performance by the Purchaser of this Agreement and
      the
      consummation of the transactions contemplated hereby do not require the consent
      or approval of, the giving of notice to, the registration with, or the taking
      of
      any other action in respect of, any state, federal or other governmental
      authority or agency, except those consents, approvals, notices, registrations
      or
      other actions as have already been obtained, given or made;

     

    (e)  each
      of
      this Agreement and the other Transaction Documents to which it is a party has
      been duly executed and delivered by the Purchaser and, assuming due
      authorization, execution and delivery by the Mortgage Loan Seller, constitutes
      a
      valid and binding obligation of the Purchaser enforceable against it in
      accordance with its terms (subject to applicable bankruptcy and insolvency
      laws
      and other similar laws affecting the enforcement of the rights of creditors
      generally);

     

    (f)  there
      are
      no actions, suits or proceedings pending or, to the knowledge of the Purchaser,
      threatened against the Purchaser, before or by any court, administrative agency,
      arbitrator or governmental body (i) with respect to any of the transactions
      contemplated by this Agreement and the other Transaction Documents to which
      it
      is a party or (ii) with respect to any other matter which in the judgment of
      the
      Purchaser will be determined adversely to the Purchaser and will if determined
      adversely to the Purchaser materially and adversely affect the Purchaser’s
      ability to perform its obligations under this Agreement and the other
      Transaction Documents to which it is a party; and the Purchaser is not in
      default with respect to any order of any court, administrative agency,
      arbitrator or governmental body so as to materially and adversely affect the
      transactions contemplated by this Agreement and the other Transaction Documents
      to which it is a party; and

     

    (g)  the
      Purchaser’s Information (as defined in Section 13(b) hereof) does not include
      any untrue statement of a material fact or omit to state a material fact
      necessary in order to make the statements made, in light of the circumstances
      under which they were made, not misleading.

     

    SECTION
      10.  Conditions
      to Closing.

     

    (a)  The
      obligations of the Purchaser under this Agreement will be subject to the
      satisfaction, on or prior to the Closing Date, of the following conditions:
      

     

    (1)  Each
      of
      the obligations of the Mortgage Loan Seller required to be performed at or
      prior
      to the Closing Date pursuant to the terms of this Agreement shall have been
      duly
      performed and complied with in all material respects; all of the representations
      and warranties of the Mortgage Loan Seller under this Agreement shall be true
      and correct as of the date or dates specified in all material respects; and
      no
      event shall have occurred which, with notice or the passage of time, would
      constitute a default under this Agreement or any of the Transaction Documents;
      and the Purchaser shall have received certificates to that effect signed by
      authorized officers of the Mortgage Loan Seller.

     

    (2)  The
      Purchaser shall have received all of the following closing documents, in such
      forms as are agreed upon and reasonably acceptable to the Purchaser, duly
      executed by all signatories other than the Purchaser as required pursuant to
      the
      respective terms thereof:

     

    (i)  If
      required pursuant to Section 3 hereof, the Amendment dated as of the Closing
      Date and any documents referred to therein;

     

    (ii)  If
      required pursuant to Section 3 hereof, the Final Mortgage Loan Schedule
      containing the information set forth on Exhibit
      2
      hereto,
      one copy to be attached to each counterpart of the Amendment;

     

    (iii)  The
      Pooling and Servicing Agreement, in form and substance reasonably satisfactory
      to the Trustee and the Purchaser, and all documents required thereby duly
      executed by all signatories;

     

    (iv)  A
      certificate of an officer of the Mortgage Loan Seller dated as of the Closing
      Date, in a form reasonably acceptable to the Purchaser, and attached thereto
      the
      resolutions of the Mortgage Loan Seller authorizing the transactions
      contemplated by this Agreement and the other Transaction Documents to which it
      is a party, together with copies of the articles of incorporation, by-laws
      and
      certificate of good standing of the Mortgage Loan Seller;

     

    (v)  One
      or
      more opinions of counsel from the Mortgage Loan Seller’s counsel otherwise in
      form and substance reasonably satisfactory to the Purchaser, the Trustee and
      each Rating Agency;

     

    (vi)  A
      letter
      from each of the Rating Agencies giving each Class of Certificates set forth
      on
      Schedule A hereto the rating set forth therein; and

     

    (vii)  Such
      other documents, certificates (including additional representations and
      warranties) and opinions as may be reasonably necessary to secure the intended
      ratings from each Rating Agency for the Certificates.

     

    (3)  The
      Certificates to be sold to Bear Stearns pursuant to the Underwriting Agreement
      shall have been issued and sold to Bear Stearns.

     

    (4)  The
      Mortgage Loan Seller shall have furnished to the Purchaser such other
      certificates of its officers or others and such other documents and opinions
      of
      counsel to evidence fulfillment of the conditions set forth in this Agreement
      and the transactions contemplated hereby as the Purchaser and their respective
      counsel may reasonably request.

     

    (b)  The
      obligations of the Mortgage Loan Seller under this Agreement shall be subject
      to
      the satisfaction, on or prior to the Closing Date, of the following
      conditions:

     

    (1)  The
      obligations of the Purchaser required to be performed by it on or prior to
      the
      Closing Date pursuant to the terms of this Agreement shall have been duly
      performed and complied with in all material respects, and all of the
      representations and warranties of the Purchaser under this Agreement shall
      be
      true and correct in all material respects as of the date hereof and as of the
      Closing Date, and no event shall have occurred which would constitute a breach
      by it of the terms of this Agreement or any of the Transaction Documents, and
      the Mortgage Loan Seller shall have received a certificate to that effect signed
      by an authorized officer of the Purchaser.

     

    (2)  The
      Mortgage Loan Seller shall have received copies of all of the following closing
      documents, in such forms as are agreed upon and reasonably acceptable to the
      Mortgage Loan Seller, duly executed by all signatories other than the Mortgage
      Loan Seller as required pursuant to the respective terms thereof:

     

    (i)  If
      required pursuant to Section 3 hereof, the Amendment dated as of the Closing
      Date and any documents referred to therein;

     

    (ii)  The
      Pooling and Servicing Agreement, in form and substance reasonably satisfactory
      to the Mortgage Loan Seller, and all documents required thereby duly executed
      by
      all signatories;

     

    (iii)  A
      certificate of an officer of the Purchaser dated as of the Closing Date, in
      a
      form reasonably acceptable to the Mortgage Loan Seller, and attached thereto
      the
      written consent of the member of the Purchaser authorizing the transactions
      contemplated by this Agreement and the other Transaction Documents to which
      it
      is a party, together with copies of the Purchaser’s certificate of formation,
      limited liability company agreement, and evidence as to the good standing of
      the
      Purchaser dated as of a recent date;

     

    (iv)  One
      or
      more opinions of counsel from the Purchaser’s counsel in form and substance
      reasonably satisfactory to the Mortgage Loan Seller and the Rating Agencies;
      and

     

    (v)  Such
      other documents, certificates (including additional representations and
      warranties) and opinions as may be reasonably necessary to secure the intended
      rating from each Rating Agency for the Certificates.

     

    SECTION
      11.  Fees
      and Expenses.
      Subject
      to Section 16 hereof, the Mortgage Loan Seller shall pay on the Closing Date
      or
      such later date as may be agreed to by the Purchaser (i) the fees and expenses
      of the Mortgage Loan Seller’s attorneys and the reasonable fees and expenses of
      the Purchaser’s attorneys, (ii) the fees and expenses of Deloitte & Touche
      LLP, (iii) the fee for the use of Purchaser’s Registration Statement based on
      the aggregate original principal amount of the Certificates and the filing
      fee
      of the Commission as in effect on the date on which the Registration Statement
      was declared effective, (iv) the fees and expenses including counsel’s fees and
      expenses in connection with any “blue sky” and legal investment matters, (v) the
      fees and expenses of the Trustee which shall include without limitation the
      fees
      and expenses of the Trustee (and the fees and disbursements of its counsel)
      with
      respect to (A) legal and document review of this Agreement, the Pooling and
      Servicing Agreement, the Certificates and related agreements, (B) attendance
      at
      the Closing and (C) review of the Mortgage Loans to be performed by the Trustee
      or the Custodian on its behalf, (vi) the expenses for printing or otherwise
      reproducing the Certificates, the Prospectus and the Prospectus Supplement,
      (vii) the fees and expenses of each Rating Agency (both initial and ongoing),
      (viii) the fees and expenses relating to the preparation and recordation of
      mortgage assignments (including intervening assignments, if any and if
      available, to evidence a complete chain of title from the originator to the
      Trustee) from the Mortgage Loan Seller to the Trustee or the expenses relating
      to the Opinion of Counsel referred to in Section 6(a) hereof, as the case may
      be, and (ix) Mortgage File due diligence expenses and other out-of-pocket
      expenses incurred by the Purchaser in connection with the purchase of the
      Mortgage Loans and by Bear Stearns in connection with the sale of the
      Certificates. The Mortgage Loan Seller additionally agrees to pay directly
      to
      any third party on a timely basis the fees provided for above which are charged
      by such third party and which are billed periodically.

     

    SECTION
      12.  Accountants’
      Letters.

     

    (a)  Deloitte
      & Touche LLP will review the characteristics of a sample of the Mortgage
      Loans described in the Final Mortgage Loan Schedule and will compare those
      characteristics to the description of the Mortgage Loans contained in the
      Prospectus Supplement under the captions “Summary—The Mortgage Loans” and “The
      Mortgage Pool” and in Schedule A thereto. The Mortgage Loan Seller will
      cooperate with the Purchaser in making available all information and taking
      all
      steps reasonably necessary to permit such accountants to complete the review
      and
      to deliver the letters required of them under the Underwriting Agreement.
      Deloitte & Touche LLP will also confirm certain calculations as set forth
      under the caption “Yield, Prepayment and Maturity Considerations” in the
      Prospectus Supplement.

     

    (b)  To
      the
      extent statistical information with respect to the Mortgage Loan Seller’s
      servicing portfolio is included in the Prospectus Supplement under the caption
      “Servicing of the Mortgage Loans—EMC,” a letter from the certified public
      accountant for the Mortgage Loan Seller will be delivered to the Purchaser
      dated
      the date of the Prospectus Supplement, in the form previously agreed to by
      the
      Mortgage Loan Seller and the Purchaser, with respect to such statistical
      information.

     

    SECTION
      13.  Indemnification.

     

    (a)  The
      Mortgage Loan Seller shall indemnify and hold harmless the Purchaser and its
      directors, officers and controlling persons (as defined in Section 15 of the
      Securities Act) from and against any loss, claim, damage or liability or action
      in respect thereof, to which they or any of them may become subject, under
      the
      Securities Act or otherwise, insofar as such loss, claim, damage, liability
      or
      action arises out of, or is based upon any untrue statement of a material fact
      contained in the Mortgage
      Loan Seller’s Information
      as
      identified in Exhibit
      3,
      the
      omission to state in the Term Sheet Supplement, the Prospectus Supplement or
      Prospectus (or any amendment thereof or supplement thereto approved by the
      Mortgage Loan Seller and in which additional Mortgage Loan Seller’s Information
      is identified), in reliance upon and in conformity with Mortgage Loan Seller’s
      Information a material fact required to be stated therein or necessary to make
      the statements therein in light of the circumstances in which they were made,
      not misleading; and the Mortgage Loan Seller shall reimburse the Purchaser
      and
      each other indemnified party for any legal and other expenses reasonably
      incurred by them in connection with investigating or defending or preparing
      to
      defend against any such loss, claim, damage, liability or action. 

     

    The
      foregoing indemnity agreement is in addition to any liability which the Mortgage
      Loan Seller otherwise may have to the Purchaser or any other such indemnified
      party.

     

    (b)  The
      Purchaser shall indemnify and hold harmless the Mortgage Loan Seller and its
      respective directors, officers and controlling persons (as defined in Section
      15
      of the Securities Act) from and against any loss, claim, damage or liability
      or
      action in respect thereof, to which they or any of them may become subject,
      under the Securities Act or otherwise, insofar as such loss, claim, damage,
      liability or action arises out of, or is based upon any untrue statement of
      a
      material fact contained in the Purchaser’s
      Information
      as
      identified in Exhibit
      4,
      the
      omission to state in the Prospectus Supplement or Prospectus (or any amendment
      thereof or supplement thereto approved by the Purchaser and in which additional
      Purchaser’s Information is identified), in reliance upon and in conformity with
      the Purchaser’s Information, a material fact required to be stated therein or
      necessary to make the statements therein in light of the circumstances in which
      they were made, not misleading; and the Purchaser shall reimburse the Mortgage
      Loan Seller, and each other indemnified party for any legal and other expenses
      reasonably incurred by them in connection with investigating or defending or
      preparing to defend any such loss, claim, damage, liability or action. The
      foregoing indemnity agreement is in addition to any liability which the
      Purchaser otherwise may have to the Mortgage Loan Seller, or any other such
      indemnified party. 

     

    (c)  Promptly
      after receipt by an indemnified party under subsection (a) or (b) above of
      notice of the commencement of any action, such indemnified party shall, if
      a
      claim in respect thereof is to be made against the indemnifying party under
      such
      subsection, notify each party against whom indemnification is to be sought
      in
      writing of the commencement thereof (but the failure so to notify an
      indemnifying party shall not relieve it from any liability which it may have
      under this Section 13 except to the extent that it has been prejudiced in any
      material respect by such failure or from any liability which it may have
      otherwise). In case any such action is brought against any indemnified party,
      and it notifies an indemnifying party of the commencement thereof, the
      indemnifying party will be entitled to participate therein and, to the extent
      it
      may elect by written notice delivered to the indemnified party promptly (but,
      in
      any event, within 30 days) after receiving the aforesaid notice from such
      indemnified party, to assume the defense thereof with counsel reasonably
      satisfactory to such indemnified party. Notwithstanding the foregoing, the
      indemnified party or parties shall have the right to employ its or their own
      counsel in any such case, but the fees and expenses of such counsel shall be
      at
      the expense of such indemnified party or parties unless (i) the employment
      of
      such counsel shall have been authorized in writing by one of the indemnifying
      parties in connection with the defense of such action, (ii) the indemnifying
      parties shall not have employed counsel to have charge of the defense of such
      action within a reasonable time after notice of commencement of the action,
      or
      (iii) such indemnified party or parties shall have reasonably concluded that
      there is a conflict of interest between itself or themselves and the
      indemnifying party in the conduct of the defense of any claim or that the
      interests of the indemnified party or parties are not substantially co-extensive
      with those of the indemnifying party (in which case the indemnifying parties
      shall not have the right to direct the defense of such action on behalf of
      the
      indemnified party or parties), in any of which events such fees and expenses
      shall be borne by the indemnifying parties (provided,
      however,
      that
      the indemnifying party shall be liable only for the fees and expenses of one
      counsel in addition to one local counsel in the jurisdiction involved. Anything
      in this subsection to the contrary notwithstanding, an indemnifying party shall
      not be liable for any settlement or any claim or action effected without its
      written consent; provided,
      however,
      that
      such consent was not unreasonably withheld. 

     

    (d)  If
      the
      indemnification provided for in paragraphs (a) and (b) of this Section 13 shall
      for any reason be unavailable to an indemnified party in respect of any loss,
      claim, damage or liability, or any action in respect thereof, referred to in
      Section 13, then the indemnifying party shall in lieu of indemnifying the
      indemnified party contribute to the amount paid or payable by such indemnified
      party as a result of such loss, claim, damage or liability, or action in respect
      thereof, in such proportion as shall be appropriate to reflect the relative
      benefits received by the Mortgage Loan Seller on the one hand and the Purchaser
      on the other from the purchase and sale of the Mortgage Loans, the offering
      of
      the Certificates and the other transactions contemplated hereunder. No person
      found liable for a fraudulent misrepresentation shall be entitled to
      contribution from any person who is not also found liable for such fraudulent
      misrepresentation. 

     

    (e)  The
      parties hereto agree that reliance by an indemnified party on any publicly
      available information or any information or directions furnished by an
      indemnifying party shall not constitute negligence, bad faith or willful
      misconduct by such indemnified party. 

     

    SECTION
      14.  Notices.
      All
      demands, notices and communications hereunder shall be in writing but may be
      delivered by facsimile transmission subsequently confirmed in writing. Notices
      to the Mortgage Loan Seller shall be directed to EMC Mortgage Corporation,
      2780
      Lake Vista Drive, Lewisville, Texas 75067, (Telecopy: ((469)759-4714), and
      notices to the Purchaser shall be directed to Bear Stearns Asset Backed
      Securities I LLC, 383 Madison Avenue, New York, New York 10179, (Telecopy:
      (212-272-7206)), Attention: Chief Counsel; or to any other address as may
      hereafter be furnished by one party to the other party by like notice. Any
      such
      demand, notice or communication hereunder shall be deemed to have been received
      on the date received at the premises of the addressee (as evidenced, in the
      case
      of registered or certified mail, by the date noted on the return receipt)
      provided that it is received on a business day during normal business hours
      and,
      if received after normal business hours, then it shall be deemed to be received
      on the next business day.

     

    SECTION
      15.  Transfer
      of Mortgage Loans.
      The
      Purchaser retains the right to assign the Mortgage Loans and any or all of
      its
      interest under this Agreement to the Trustee without the consent of the Mortgage
      Loan Seller, and, upon such assignment, the Trustee shall succeed to the
      applicable rights and obligations of the Purchaser hereunder; provided,
      however,
      the
      Purchaser shall remain entitled to the benefits set forth in Sections 11, 13
      and
      17 hereto and as provided in Section 2(a). Notwithstanding the foregoing, the
      sole and exclusive right and remedy of the Trustee with respect to a breach
      of
      representation or warranty of the Mortgage Loan Seller shall be the cure,
      purchase or substitution obligations of the Mortgage Loan Seller contained
      in
      Sections 5 and 7 hereof.

     

    SECTION
      16.  Termination.
      This
      Agreement may be terminated (a) by the mutual consent of the parties hereto
      prior to the Closing Date, (b) by the Purchaser, if the conditions to the
      Purchaser’s obligation to close set forth under Section 10(a) hereof are not
      fulfilled as and when required to be fulfilled or (c) by the Mortgage Loan
      Seller, if the conditions to the Mortgage Loan Seller’s obligation to close set
      forth under Section 10(b) hereof are not fulfilled as and when required to
      be
      fulfilled. In the event of termination pursuant to clause (b), the Mortgage
      Loan
      Seller shall pay, and in the event of termination pursuant to clause (c), the
      Purchaser shall pay, all reasonable out-of-pocket expenses incurred by the
      other
      in connection with the transactions contemplated by this Agreement. In the
      event
      of a termination pursuant to clause (a), each party shall be responsible for
      its
      own expenses.

     

    SECTION
      17.  Representations,
      Warranties and Agreements to Survive Delivery.
      All
      representations, warranties and agreements contained in this Agreement, or
      contained in certificates of officers of the Mortgage Loan Seller submitted
      pursuant hereto, shall remain operative and in full force and effect and shall
      survive delivery of the Mortgage Loans to the Purchaser (and by the Purchaser
      to
      the Trustee). Subsequent to the delivery of the Mortgage Loans to the Purchaser,
      the Mortgage Loan Seller’s representations and warranties contained herein with
      respect to the Mortgage Loans shall be deemed to relate to the Mortgage Loans
      actually delivered to the Purchaser and included in the Final Mortgage Loan
      Schedule and any Replacement Mortgage Loan and not to those Mortgage Loans
      deleted from the Preliminary Mortgage Loan Schedule pursuant to Section 3 hereof
      prior to the Closing.

     

    SECTION
      18.  Severability.
      If any
      provision of this Agreement shall be prohibited or invalid under applicable
      law,
      this Agreement shall be ineffective only to such extent, without invalidating
      the remainder of this Agreement.

     

    SECTION
      19.  Counterparts.
      This
      Agreement may be executed in counterparts, each of which will be an original,
      but which together shall constitute one and the same agreement.

     

    SECTION
      20.  Amendment.
      This
      Agreement cannot be amended or modified in any manner without the prior written
      consent of each party.

     

    SECTION
      21.  GOVERNING
      LAW.
      THIS
      AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
      OF
      THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF
      OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

     

    SECTION
      22.  Further
      Assurances.
      Each of
      the parties agrees to execute and deliver such instruments and take such actions
      as another party may, from time to time, reasonably request in order to
      effectuate the purpose and to carry out the terms of this Agreement including
      any amendments hereto which may be required by either Rating
      Agency.

     

    SECTION
      23.  Successors
      and Assigns.

     

    (a)  This
      Agreement shall bind and inure to the benefit of and be enforceable by the
      Mortgage Loan Seller and the Purchaser and their permitted successors and
      assigns and, to the extent specified in Section 13 hereof, Bear Stearns, and
      their directors, officers and controlling persons (within the meaning of federal
      securities laws). The Mortgage Loan Seller acknowledges and agrees that the
      Purchaser may assign its rights under this Agreement (including, without
      limitation, with respect to the Mortgage Loan Seller’s representations and
      warranties respecting the Mortgage Loans) to the Trustee. Any person into which
      the Mortgage Loan Seller may be merged or consolidated (or any person resulting
      from any merger or consolidation involving the Mortgage Loan Seller), any person
      resulting from a change in form of the Mortgage Loan Seller or any person
      succeeding to the business of the Mortgage Loan Seller, shall be considered
      the
“successor” of the Mortgage Loan Seller hereunder and shall be considered a
      party hereto without the execution or filing of any paper or any further act
      or
      consent on the part of any party hereto. Except as provided in the two preceding
      sentences, this Agreement cannot be assigned, pledged or hypothecated by either
      party hereto without the written consent of the other parties to this Agreement
      and any such assignment or purported assignment shall be deemed null and
      void.

     

    SECTION
      24.  The
      Mortgage Loan Seller.
      The
      Mortgage Loan Seller will keep in full force and effect its existence, all
      rights and franchises as a corporation under the laws of the State 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
      necessary to perform its obligations under this Agreement.

     

    SECTION
      25.  Entire
      Agreement.
      This
      Agreement contains the entire agreement and understanding between the parties
      with respect to the subject matter hereof, and supersedes all prior and
      contemporaneous agreements, understandings, inducements and conditions, express
      or implied, oral or written, of any nature whatsoever with respect to the
      subject matter hereof.

     

    SECTION
      26.  No
      Partnership.
      Nothing
      herein contained shall be deemed or construed to create a partnership or joint
      venture between the parties hereto.

     

    [REMAINDER
      OF PAGE INTENTIONALLY LEFT BLANK]

    

    

     

    

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

    IN
      WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto
      by their respective duly authorized officers as of the date first above
      written.

     

    
      	
              EMC
                MORTGAGE CORPORATION

            
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 
	 
	 
	
              BEAR
                STEARNS ASSET BACKED SECURITIES
                I LLC

            
	 
	 	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      1

    CONTENTS
      OF MORTGAGE FILE

     

    With
      respect to each Mortgage Loan, the Mortgage File shall include each of the
      following items, which shall be available for inspection by the Purchaser or
      its
      designee, and which shall be delivered to the Purchaser or its designee pursuant
      to the terms of this Agreement.

     

    (i)  The
      original Mortgage Note, including any riders thereto, endorsed without recourse
      to the order of “Wells Fargo Bank, National Association”, as Trustee for
      certificateholders of Bear Stearns Mortgage Funding Trust 2006-AC1 Asset-Backed
      Certificates, Series 2006-AC1,” or to blank and showing to the extent available
      to the Mortgage Loan Seller an unbroken chain of endorsements from the original
      payee thereof to the Person endorsing it to the Trustee;

     

    (ii)  the
      original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting the
      presence of the MIN and language indicating that such Mortgage Loan is a MOM
      Loan, which shall have been recorded (or if the original is not available,
      a
      copy), with evidence of such recording indicated thereon (or if clause (x)
      in
      the proviso below applies, shall be in recordable form);

     

    (iii)  unless
      the Mortgage Loan is a MOM Loan, the assignment (either an original or a copy,
      which may be in the form of a blanket assignment if permitted in the
      jurisdiction in which the Mortgaged Property is located) to the Trustee of
      the
      Mortgage with respect to each Mortgage Loan in the name of “Wells Fargo Bank,
      National Association”, as Trustee for certificateholders of Bear Stearns
      Mortgage Funding Trust 2006-AC1 Asset-Backed Certificates, Series 2006-AC1,”
which shall have been recorded (or if clause (x) in the proviso below applies,
      shall be in recordable form);

     

    (iv)  an
      original or a copy of all intervening assignments of the Mortgage, if any,
      to
      the extent available to the Mortgage Loan Seller, with evidence of recording
      thereon;

     

    (v)  the
      original policy of title insurance or mortgagee’s certificate of title insurance
      or commitment or binder for title insurance, if available, or a copy thereof,
      or, in the event that such original title insurance policy is unavailable,
      a
      photocopy thereof, or in lieu thereof, a current lien search on the related
      Mortgaged Property and

     

    (vi)  originals
      or copies of all available assumption, modification or substitution agreements,
      if any.

     

    Provided,
      however, that in lieu of the foregoing, the Mortgage Loan Seller may deliver
      the
      following documents, under the circumstances set forth below: (x) if any
      Mortgage, assignment thereof to the Trustee or intervening assignments thereof
      have been delivered or are being delivered to recording offices for recording
      and have not been returned in time to permit their delivery as specified above,
      the Purchaser may deliver a true copy thereof with a certification by the
      Mortgage Loan Seller or the title company issuing the commitment for title
      insurance, on the face of such copy, substantially as follows: “Certified to be
      a true and correct copy of the original, which has been transmitted for
      recording”; and (y) in lieu of the Mortgage Notes relating to the Mortgage Loans
      identified in the list set forth in Exhibit I to the Pooling and Servicing
      Agreement, the Purchaser may deliver a lost note affidavit and indemnity and
      a
      copy of the original note, if available; and provided, further, however, that
      in
      the case of Mortgage Loans which have been prepaid in full after the Cut-off
      Date and prior to the Closing Date, the Purchaser, in lieu of delivering the
      above documents, may deliver to the Trustee and its Custodian a certification
      of
      a Servicing Officer to such effect and in such case shall deposit all amounts
      paid in respect of such Mortgage Loans, in the Master Servicer Collection
      Account or in the Distribution Account on the Closing Date. In the case of
      the
      documents referred to in clause (x) above, the Purchaser shall deliver such
      documents to the Trustee or its Custodian promptly after they are received.
      The
      Mortgage Loan Seller shall cause, at its expense, the Mortgage and intervening
      assignments, if any, and to the extent required in accordance with the
      foregoing, the assignment of the Mortgage to the Trustee to be submitted for
      recording promptly after the Closing Date; provided that the Mortgage Loan
      Seller need not cause to be recorded any assignment (a) in any jurisdiction
      under the laws of which, as evidenced by an Opinion of Counsel addressed to
      the
      Trustee delivered by the Mortgage Loan Seller to the Trustee and the Rating
      Agencies, the recordation of such assignment is not necessary to protect the
      Trustee’s interest in the related Mortgage Loan or (b) if MERS is identified on
      the Mortgage or on a properly recorded assignment of the Mortgage as mortgagee
      of record solely as nominee for Mortgage Loan Seller and its successors and
      assigns. In the event that the Mortgage Loan Seller, the Purchaser or the Master
      Servicer gives written notice to the Trustee that a court has recharacterized
      the sale of the Mortgage Loans as a financing, the Mortgage Loan Seller shall
      submit or cause to be submitted for recording as specified above or, should
      the
      Mortgage Loan Seller fail to perform such obligations, the Master Servicer
      shall
      cause each such previously unrecorded assignment to be submitted for recording
      as specified above at the expense of the Trust. In the event a Mortgage File
      is
      released to the Company or the related Servicer as a result of such Person
      having completed a Request for Release, the Custodian shall, if not so
      completed, complete the assignment of the related Mortgage in the manner
      specified in clause (iii) above.

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      2

     

    MORTGAGE
      LOAN SCHEDULE INFORMATION

     

    The
      Preliminary and Final Mortgage Loan Schedules shall set forth the following
      information with respect to each Mortgage Loan:

     

    (a)  the
      city,
      state and zip code of the Mortgaged Property; 

    (b)  the
      property type;

    (c)  the
      Mortgage Interest Rate;

    (d)  the
      Servicing Fee Rate;

    (e)  the
      Master Servicer’s Fee Rate, if applicable;

    (f)  the
      LPMI
      Fee, if applicable;

    (g)  the
      Trustee Fee Rate, if applicable;

    (h)  the
      Net
      Rate;

    (i)  the
      maturity date;

    (j)  the
      stated original term to maturity;

    (k)  the
      stated remaining term to maturity;

    (l)  the
      original Principal Balance;

    (m)  the
      first
      payment date;

    (n)  the
      principal and interest payment in effect as of the Cut-off Date;

    (o)  the
      unpaid Principal Balance as of the Cut-off Date;

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

    (q)  the
      insurer of any Primary Mortgage Insurance Policy;

    (r)  the
      MIN
      with respect to each MOM Loan;

    (s)  the
      Gross
      Margin, if applicable;

    (t)  the
      next
      Adjustment Date, if applicable;

    (u)  the
      Maximum Lifetime Mortgage Rate, if applicable;

    (v)  the
      Minimum Lifetime Mortgage Rate, if applicable;

    (w)  the
      Periodic Rate Cap, if applicable; 

    (x)  the
      Loan
      Group, if applicable;

    (y)  a
      code
      indicating whether the Mortgage Loan is negatively amortizing;

    (z)     
      which
      Mortgage Loans adjust after an initial fixed-rate period of one, two, three,
      five, seven or ten years or any other period; 

    (aa)  the
      Prepayment Charge, if any;

    (bb)  lien
      position (e.g., first lien or second lien);

    (cc)  a
      code
      indicating whether the Mortgage Loan is has a balloon payment;

    (dd)  a
      code
      indicating whether the Mortgage Loan is an interest-only loan; 

    (ee)  the
      interest-only term, if applicable;

    (ff)  the
      Mortgage Loan Seller; and

    (gg)  the
      original amortization term.

    

    Such
      schedule also shall set forth for all of the Mortgage Loans, the total number
      of
      Mortgage Loans, the total of each of the amounts described under (n) and (j)
      above, the weighted average by principal balance as of the Cut-off Date of
      each
      of the rates described under (c) through (h) above, and the weighted average
      remaining term to maturity by unpaid principal balance as of the Cut-off
      Date.

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      3

    MORTGAGE
      LOAN SELLER’S INFORMATION

     

    All
      information in the Prospectus Supplement described under the following captions:
      “SUMMARY - The Mortgage Loans,” “THE MORTGAGE POOL,” “THE SPONSOR” and “SCHEDULE
      A - Mortgage Loan Statistical Data.”

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      4

    PURCHASER’S
      INFORMATION

     

    All
      information in the Prospectus Supplement and the Prospectus, except the Mortgage
      Loan Seller’s Information.

     

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      5

    SCHEDULE
      OF LOST NOTES

     

    Available
      Upon Request

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      6

     

    REVISED
      April 18, 2006

     

    

      APPENDIX
        E - Standard & Poor’s Predatory Lending Categories

       

      Standard
        & Poor’s has categorized loans governed by anti-predatory lending laws in
        the Jurisdictions listed below into three categories based upon a combination
        of
        factors that include (a) the risk exposure associated with the assignee
        liability and (b) the tests and thresholds set forth in those laws. Note
        that
        certain loans classified by the relevant statute as Covered are included
        in
        Standard & Poor’s High Cost Loan Category because they included thresholds
        and tests that are typical of what is generally considered High Cost by the
        industry.

       

      Standard
        & Poor’s High Cost Loan Categorization

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending

                Law/Effective
                  Date

              	
                Category
                  under

                Applicable
                  Anti- 

                Predatory
                  Lending Law

              
	
                Arkansas

              	
                Arkansas
                  Home Loan Protection Act,

                Ark.
                  Code Ann. §§ 23-53-101 et
                  seq.

                 

                Effective
                  July 16, 2003

              	
                High
                  Cost Home Loan

              
	
                Cleveland
                  Heights, OH

              	
                Ordinance
                  No. 72-2003 (PSH), Mun.

                Code
                  §§ 757.01 et
                  seq.

                 

                Effective
                  June 2, 2003

              	
                Covered
                  Loan

              
	
                Colorado

              	
                Consumer
                  Equity Protection, Colo. Stat.

                Ann.
                  §§ 5-3.5-101 et
                  seq.

                 

                Effective
                  for covered loans offered or entered into on or after January 1,
                  2003.
                  Other provisions of the Act took effect on June 7, 2002

              	
                Covered
                  Loan

              
	
                Connecticut

              	
                Connecticut
                  Abusive Home Loan

                Lending
                  Practices Act, Conn. Gen. Stat.

                §§
                  36a-746 et
                  seq.

                 

                Effective
                  October 1, 2001

              	
                High
                  Cost Home Loan

              
	
                District
                  of Columbia

              	
                Home
                  Loan Protection Act, D.C. Code

                §§
                  26-1151.01 et
                  seq.

                 

                Effective
                  for loans closed on or after January 28, 2003

              	
                Covered
                  Loan

              
	
                Florida

              	
                Fair
                  Lending Act, Fla. Stat. Ann. §§

                494.0078
                  et
                  seq.

                 

                Effective
                  October 2, 2002

              	
                High
                  Cost Home Loan

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending

                Law/Effective
                  Date

              	
                Category
                  under

                Applicable
                  Anti- 

                Predatory
                  Lending Law

              
	
                Georgia
                  (Oct. 1, 2002 -

                Mar.
                  6, 2003)

              	
                Georgia
                  Fair Lending Act, Ga. Code

                Ann.
                  §§ 7-6A-1 et
                  seq.

                 

                Effective
                  October 1, 2002 - March 6 2003

              	
                High
                  Cost Home Loan

              
	
                Georgia
                  as amended

                (Mar.
                  7, 2003 - current)

              	
                Georgia
                  Fair Lending Act, Ga. Code

                Ann.
                  §§ 7-6A-1 et
                  seq.

                 

                Effective
                  for loans closed on or after

                March
                  7, 2003

              	
                High
                  Cost Home Loan

              
	
                HOEPA
                  Section 32

              	
                Home
                  Ownership and Equity Protection

                Act
                  of 1994, 15 U.S.C. § 1639, 12

                C.F.R.
                  §§ 226.32 and 226.34

                 

                Effective
                  October 1, 1995, amendments

                October
                  1, 2002

              	
                High
                  Cost Loan

              
	
                Illinois

              	
                High
                  Risk Home Loan Act, Ill. Comp.

                Stat.
                  tit. 815, §§ 137/5 et
                  seq.

                 

                Effective
                  January 1, 2004 (prior to this date, regulations under
                  Residential

                Mortgage
                  License Act effective from May 14, 2001)

              	
                High
                  Risk Home Loan

              
	
                Kansas

              	
                Consumer
                  Credit Code, Kan. Stat. Ann.

                §§
                  16a-1-101 et
                  seq.

                 

                Sections
                  16a-1-301 and 16a-3-207 became effective April 14, 1999;

                Section
                  16a-3-308a became effective July 1, 1999

              	
                High
                  Loan to Value Consumer Loan (id.
§
                  16a-3-207) and;

              
	
                High
                  APR Consumer Loan (id.
§
                  16a-3-308a)

              
	
                Kentucky

              	
                2003
                  KY H.B. 287 - High Cost Home

                Loan
                  Act, Ky. Rev. Stat. §§ 360.100 et seq.

                 

                Effective
                  June 24, 2003

              	
                High
                  Cost Home Loan

              
	
                Maine

              	
                Truth
                  in Lending, Me. Rev. Stat. tit. 9-

                A,
                  §§ 8-101 et
                  seq.

                 

                Effective
                  September 29, 1995 and as amended from time to time

              	
                High
                  Rate High Fee Mortgage

              
	
                Massachusetts

              	
                Part
                  40 and Part 32, 209 C.M.R. §§

                32.00
                  et
                  seq.
                  and 209 C.M.R. §§ 40.01 et
                  seq.

                 

                Effective
                  March 22, 2001 and amended from time to time

              	
                High
                  Cost Home Loan

              
	
                Nevada

              	
                Assembly
                  Bill No. 284, Nev. Rev. Stat.

                §§
                  598D.010 et
                  seq.

                 

                Effective
                  October 1, 2003

              	
                Home
                  Loan

              
	
                New
                  Jersey

              	
                New
                  Jersey Home Ownership Security

                Act
                  of 2002, N.J. Rev. Stat. §§ 46:10B- 22 et
                  seq.

                 

                Effective
                  for loans closed on or after November 27, 2003

              	
                High
                  Cost Home Loan

              
	
                New
                  Mexico

              	
                Home
                  Loan Protection Act, N.M. Rev.

                Stat.
                  §§ 58-21A-1 et
                  seq.

                 

                Effective
                  as of January 1, 2004; Revised

                as
                  of February 26, 2004

              	
                High
                  Cost Home Loan

              
	
                New
                  York

              	
                N.Y.
                  Banking Law Article 6-1

                 

                Effective
                  for applications made on or after April 1, 2003

              	
                High
                  Cost Home Loan

              
	
                North
                  Carolina

              	
                Restrictions
                  and Limitations on High

                Cost
                  Home Loans, N.C. Gen. Stat. §§ 24-1.1E et
                  seq.

                 

                Effective
                  July 1, 2000; amended October 1, 2003 (adding open-end lines of
                  credit)

              	
                High
                  Cost Home Loan

              
	
                Ohio

              	
                H.B.
                  386 (codified in various sections of the Ohio Code), Ohio Rev.
                  Code Ann.
                  §§ 1349.25 et
                  seq.

                 

                Effective
                  May 24, 2002

              	
                Covered
                  Loan

              
	
                Oklahoma

              	
                Consumer
                  Credit Code (codified in various sections of Title 14A)

                 

                Effective
                  July 1, 2000; amended effective January 1, 2004

              	
                Subsection
                  10 Mortgage

              
	
                South
                  Carolina

              	
                South
                  Carolina High Cost and

                Consumer
                  Home Loans Act, S.C. Code

                Ann.
                  §§ 37-23-10 et
                  seq.

                 

                Effective
                  for loans taken on or after January 1, 2004

              	
                High
                  Cost Home Loan

              
	
                West
                  Virginia

              	
                West
                  Virginia Residential Mortgage Lender, Broker and Servicer Act,
                  W.

                Va.
                  Code Ann. §§ 31-17-1 et
                  seq.

                 

                Effective
                  June 5, 2002

              	
                West
                  Virginia Mortgage Loan Act Loan

              

      

      

      Standard
        & Poor’s Covered Loan Categorization

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending

                Law/Effective
                  Date

              	
                Category
                  under

                Applicable
                  Anti- 

                Predatory
                  Lending Law

              
	
                Georgia
                  (Oct. 1, 2002 -

                Mar.
                  6, 2003)

              	
                Georgia
                  Fair Lending Act, Ga. Code

                Ann.
                  §§ 7-6A-1 et
                  seq.

                 

                Effective
                  October 1, 2002 - March 6, 2003

              	
                Covered
                  Loan

              
	
                New
                  Jersey

              	
                New
                  Jersey Home Ownership Security

                Act
                  of 2002, N.J. Rev. Stat. §§ 46:10B 22 et
                  seq.

                 

                Effective
                  November 27, 2003 - July 5, 2004

              	
                Covered
                  Home Loan

              

      

      

      Standard
        & Poor’s Home Loan Categorization

       

      
        	
                State/Jurisdiction

              	
                Name
                  of Anti-Predatory Lending

                Law/Effective
                  Date

              	
                Category
                  under

                Applicable
                  Anti- 

                Predatory
                  Lending Law

              
	
                Georgia
                  (Oct. 1, 2002 -

                Mar.
                  6, 2003)

              	
                Georgia
                  Fair Lending Act, Ga. Code

                Ann.
                  §§ 7-6A-1 et
                  seq.

                 

                Effective
                  October 1, 2002 - March 6, 2003

              	
                Home
                  Loan

              
	
                New
                  Jersey

              	
                New
                  Jersey Home Ownership Security

                Act
                  of 2002, N.J. Rev. Stat. §§ 46:10B- 22 et
                  seq.

                 

                Effective
                  for loans closed on or after November 27, 2003

              	
                Home
                  Loan

              
	
                New
                  Mexico

              	
                Home
                  Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et
                  seq.

                 

                Effective
                  as of January 1, 2004; Revised as of February 26, 2004

              	
                Home
                  Loan

              
	
                North
                  Carolina

              	
                Restrictions
                  and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§

                24-1.1E
                  et
                  seq.

                 

                Effective
                  July 1, 2000; amended October 1, 2003 (adding open-end lines of
                  credit)

              	
                Consumer
                  Home Loan

              
	
                South
                  Carolina

              	
                South
                  Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann.
§§ 37-23-10
                  et
                  seq.

                 

                Effective
                  for loans taken on or after January 1, 2004

              	
                Consumer
                  Home Loan 

              

      

      

       

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    SCHEDULE
      A

    

    REQUIRED
      RATINGS FOR EACH CLASS OF CERTIFICATES

     

    Public
      Certificates

    

    
      	
              Class

            	
              Moody’s

            	
              S&P

            
	
              A-1

            	
              Aaa

            	
              AAA

            
	
              A-2

            	
              Aaa

            	
              AAA

            
	
              A-3

            	
              Aaa

            	
              AAA

            
	
              A-4

            	
              Aaa

            	
              AAA

            
	
              M-1

            	
              Aa2

            	
              AA

            
	
              M-2

            	
              A1

            	
              A+

            
	
              M-3

            	
              A2

            	
              A

            
	
              M-4

            	
              A3

            	
              A-

            
	
              B-1

            	
              Baa1

            	
              BBB+

            
	
              B-2

            	
              Baa2

            	
              BBB

            
	
              B-3

            	
              Baa3

            	
              BBB-

            
	 	 	 

    

    None
      of
      the above ratings has been lowered, qualified or withdrawn since the dates
      of
      issuance of such ratings by the Rating Agencies.

     

    Private
      Certificates

    

    
      	
              Class

            	
              S&P

            	
              Moody’s

            
	
              B-4

            	
              Ba2

            	
              BB

            
	
              C

            	
              Not
                Rated

            	
              Not
                Rated

            
	
              P

            	
              Not
                Rated

            	
              Not
                Rated

            
	
              R-1

            	
              Not
                Rated

            	
              Not
                Rated

            
	
              R-2

            	
              Not
                Rated

            	
              Not
                Rated

            
	
              R-3

            	
              Not
                Rated

            	
              Not
                Rated

            
	
              RX

            	
              Not
                Rated

            	
              Not
                Rated

            

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      M

    

    FORM
      OF
      CERTIFICATION TO BE

    PROVIDED
      BY THE TRUSTEE TO DEPOSITOR

    

    
      	
              Re:

            	
              Bear
                Stearns Mortgage Funding Trust 2006-AC1 (the “Trust”),
                Asset-Backed Certificates, Series 2006-AC1, issued pursuant to the
                Pooling
                and Servicing Agreement, dated as of July 1, 2006, among Bear Stearns
                Asset Backed Securities I LLC, as Depositor, Wells Fargo Bank, National
                Association, as Trustee and EMC Mortgage Corporation as Seller and
                Master
                Servicer

            

    

    

     

    The
      Trustee hereby certifies to the Depositor, and its officers, directors and
      affiliates, and with the knowledge and intent that they will rely upon this
      certification, that:

     

    ARTICLE
      VI.  I
      have
      reviewed the annual report on Form 10-K for the fiscal year [____] (the
“Annual
      Report”),
      and
      all reports on Form 10-D required to be filed in respect of period covered
      by
      the Annual Report (collectively with the Annual Report, the “Reports”),
      of
      the Trust;

     

    ARTICLE
      VII.  To
      my
      knowledge, (a) the Reports, taken as a whole, do not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make
      the statements made, in light of the circumstances under which such statements
      were made, not misleading with respect to the period covered by the Annual
      Report, and (b) the Trustee’s assessment of compliance and related attestation
      report referred to below, taken as a whole, do not contain any untrue statement
      of a material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were
      made, not misleading with respect to the period covered by such assessment
      of
      compliance and attestation report;

     

    ARTICLE
      VIII.  To
      my
      knowledge, the distribution information required to be provided by the Trustee
      under the Pooling and Servicing Agreement for inclusion in the Reports is
      included in the Reports;

     

    ARTICLE
      IX.  I
      am
      responsible for reviewing the activities performed by the Trustee under the
      Pooling and Servicing Agreement, and based on my knowledge and the compliance
      review conducted in preparing the compliance statement of the Trustee required
      by the Pooling and Servicing Agreement, and except as disclosed in the Reports,
      the Trustee has fulfilled its obligations under the Pooling and Servicing
      Agreement in all material respects; and

     

    ARTICLE
      X.  The
      report on assessment of compliance with servicing criteria applicable to the
      Trustee for asset-backed securities of the Trustee and each Subcontractor
      utilized by the Trustee and related attestation report on assessment of
      compliance with servicing criteria applicable to it required to be included
      in
      the Annual Report in accordance with Item 1122 of Regulation AB and Exchange
      Act
      Rules 13a-18 and 15d-18 has been included as an exhibit to the Annual Report.
      Any material instances of non-compliance are described in such report and have
      been disclosed in the Annual Report.

     

    In
      giving
      the certifications above, the Trustee has reasonably relied on information
      provided to it by the following unaffiliated parties: [names of servicer(s),
      master servicer, subservicer, depositor, trustee, custodian(s)]

     

    

    Date:________________________________

    

    

    _____________________________________

    [Signature]

    [Title]

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      N

    

    SERVICING
      CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

     

    Definitions

    Master
      Servicer - transaction party having borrower contact; aggregator of pool
      assets

    Trustee
      -
      waterfall calculator; fiduciary of the transaction

    Back-up
      Servicer - named in the transaction (in the event a Back-up Servicer becomes
      the
      Master Servicer, follow Master Servicer obligations)

    Custodian
      - safe keeper of pool assets

    

    Note:
      The
      definitions above describe the essential function that the party performs,
      rather than the party’s title.

    

    Where
      there are multiple checks for criteria the attesting party will identify in
      their management assertion that they are attesting only to the portion of the
      distribution chain they are responsible for in the related transaction
      agreements.

    

    Key:       
       X
      - obligation

    [X]
      - under consideration for obligation

     

    

      
        	
                Reg
                  AB Reference

              	
                Servicing
                  Criteria

              	
                Master
                  Servicer

              	
                Custodian

              	
                Trustee

              
	 	
                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

              	 	
                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 Pool Assets 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. 

              	
                X

              	 	 
	 	
                Cash
                  Collection and Administration

              	 	 	 
	
                1122(d)(2)(i)

              	
                Payments
                  on pool assets 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

              	 	
                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

              	 	
                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

              	 	
                X

              
	
                1122(d)(2)(iv)

              	
                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of over collateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements. 

              	
                X

              	 	
                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

              	 	
                X

              
	
                1122(d)(2)(vi)

              	
                Unissued
                  checks are safeguarded so as to prevent unauthorized access.
                  

              	
                X

              	 	
                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

              	 	
                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 Pool Assets serviced by the Servicer.
                  

              	
                X

              	 	
                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

              	 	
                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

              	 	
                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

              	 	
                X

              
	 	
                Pool
                  Asset Administration

              	 	 	 
	
                1122(d)(4)(i)
                  

              	
                Collateral
                  or security on pool assets is maintained as required by the transaction
                  agreements or related pool asset documents. 

              	
                X

              	
                X

              	 
	
                1122(d)(4)(ii)

              	
                Pool
                  assets and related documents are safeguarded as required by the
                  transaction agreements 

              	
                X

              	
                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

              	 	
                X

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on pool assets, including any payoffs, made in accordance with
                  the related
                  pool asset 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 pool asset documents. 

              	
                X

              	 	 
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the pool assets agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal balance.
                  

              	
                X

              	 	 
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's pool assets
                  (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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a pool
                  asset 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 pool assets including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or unemployment).
                  

              	
                X

              	 	 
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for pool assets with variable
                  rates
                  are computed based on the related pool asset documents. 

              	
                X

              	 	 
	
                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 pool asset 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 pool asset documents
                  and state
                  laws; and (C) such funds are returned to the obligor within 30
                  calendar
                  days of full repayment of the related pool assets, or such other
                  number of
                  days specified in the transaction agreements. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                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. 

              	
                X

              	 	 
	
                1122(d)(4)(xiv)
                  

              	
                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements. 

              	
                X

              	 	 
	
                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. (In this transaction there is no external
                  enhancement or other support.)

              	
                X

              	 	
                X

              

      

    

    

     

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      O

    

    FORM
      10-D, FORM 8-K AND FORM 10-K

    REPORTING
      RESPONSIBILITY

    

    As
      to
      each item described below, the entity indicated as the Responsible Party shall
      be primarily responsible for reporting the information to the party identified
      as responsible for preparing the Securities Exchange Act Reports pursuant to
      Section 4.18 of the Pooling and Servicing Agreement.

    

    Under
      Item 1 of Form 10-D: a) items marked “Monthly Statements to Certificateholders”
are required to be included in the periodic Distribution Date statement under
      Section 6.06, provided by the Trustee based on information received from the
      party providing such information; and b) items marked “Form 10-D report” are
      required to be in the Form 10-D report but not the Monthly Statements to
      Certificateholders, provided by the party indicated. Information under all
      other
      Items of Form 10-D is to be included in the Form 10-D report. All such
      information and any other Items on Form 8-K and Form 10-D set forth in this
      Exhibit shall be sent to the Trustee and the Depositor.

    

    

      
        	
                Form

              	
                Item

              	
                Description

              	
                Master
                  Servicer

              	
                Trustee

              	
                Custodian

              	
                Depositor

              	
                Sponsor

              
	
                10-D

              	
                Must
                  be filed within 15 days of the distribution date for the asset-backed
                  securities.

              
	
                1

              	
                Distribution
                  and Pool Performance Information

              	 	 	 	 	 
	
                Item
                  1121(a) - Distribution and Pool Performance
                  Information

              	 	 	 	 	 
	
                (1)
                  Any applicable record dates, accrual dates, determination dates
                  for
                  calculating distributions and actual distribution dates for the
                  distribution period.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (2)
                  Cash flows received and the sources thereof for distributions,
                  fees and
                  expenses.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (3)
                  Calculated amounts and distribution of the flow of funds for the
                  period
                  itemized by type and priority of payment, including:

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (i)
                  Fees or expenses accrued and paid, with an identification of the
                  general
                  purpose of such fees and the party receiving such fees or
                  expenses.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (ii)
                  Payments accrued or paid with respect to enhancement or other support
                  identified in Item 1114 of Regulation AB (such as insurance premiums
                  or
                  other enhancement maintenance fees), with an identification of
                  the general
                  purpose of such payments and the party receiving such
                  payments.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (iii)
                  Principal, interest and other distributions accrued and paid on
                  the
                  asset-backed securities by type and by class or series and any
                  principal
                  or interest shortfalls or carryovers.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (iv)
                  The amount of excess cash flow or excess spread and the disposition
                  of
                  excess cash flow.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (4)
                  Beginning and ending principal balances of the asset-backed
                  securities.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (5)
                  Interest rates applicable to the pool assets and the asset-backed
                  securities, as applicable. Consider providing interest rate information
                  for pool assets in appropriate distributional groups or incremental
                  ranges.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (6)
                  Beginning and ending balances of transaction accounts, such as
                  reserve
                  accounts, and material account activity during the period.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (7)
                  Any amounts drawn on any credit enhancement or other support identified
                  in
                  Item 1114 of Regulation AB, as applicable, and the amount of coverage
                  remaining under any such enhancement, if known and
                  applicable.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (8)
                  Number and amount of pool assets at the beginning and ending of
                  each
                  period, and updated pool composition information, such as weighted
                  average
                  coupon, weighted average remaining term, pool factors and prepayment
                  amounts.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	
                Updated
                  pool composition information fields to be as specified by Depositor
                  from
                  time to time

              	 
	
                (9)
                  Delinquency and loss information for the period.

              	
                X

              	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                In
                  addition, describe any material changes to the information specified
                  in
                  Item 1100(b)(5) of Regulation AB regarding the pool assets.
                  (methodology)

              	
                X

              	 	 	 	 
	
                (10)
                  Information on the amount, terms and general purpose of any advances
                  made
                  or reimbursed during the period, including the general use of funds
                  advanced and the general source of funds for
                  reimbursements.

              	
                X

              	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (11)
                  Any material modifications, extensions or waivers to pool asset
                  terms,
                  fees, penalties or payments during the distribution period or that
                  have
                  cumulatively become material over time.

              	
                X

              	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (12)
                  Material breaches of pool asset representations or warranties or
                  transaction covenants.

              	
                X

              	
                X

                 

                (if
                  agreed upon by the parties)

              	 	
                X

              	 
	
                (13)
                  Information on ratio, coverage or other tests used for determining
                  any
                  early amortization, liquidation or other performance trigger and
                  whether
                  the trigger was met.

              	 	
                X

                 

                (Monthly
                  Statements to Certificateholders)

              	 	 	 
	
                (14)
                  Information regarding any new issuance of asset-backed securities
                  backed
                  by the same asset pool, 

              	 	 	 	
                X

              	 
	
                information
                  regarding any pool asset changes (other than in connection with
                  a pool
                  asset converting into cash in accordance with its terms), such
                  as
                  additions or removals in connection with a prefunding or revolving
                  period
                  and pool asset substitutions and repurchases (and purchase rates,
                  if
                  applicable), and cash flows available for future purchases, such
                  as the
                  balances of any prefunding or revolving accounts, if
                  applicable.

              	
                X

              	
                X

              	 	
                X

              	 
	
                Disclose
                  any material changes in the solicitation, credit-granting, underwriting,
                  origination, acquisition or pool selection criteria or procedures,
                  as
                  applicable, used to originate, acquire or select the new pool
                  assets.

              	 	 	 	
                X

              	
                X

              
	
                Item
                  1121(b) - Pre-Funding or Revolving Period Information

                 

                Updated
                  pool information as required under Item 1121(b).

              	 	 	 	
                X

              	 
	
                2

              	
                Legal
                  Proceedings

              	 	 	 	 	 
	
                Item
                  1117 - Legal proceedings pending against the following entities,
                  or their
                  respective property, that is material to Certificateholders, including
                  proceedings known to be contemplated by governmental
                  authorities:

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Issuing
                  entity

              	 	 	 	
                X

              	 
	
                Master
                  Servicer, affiliated Servicer, other servicer servicing 20% or
                  more of
                  pool assets at time of report, other material servicers 

              	
                X

              	 	 	 	 
	
                Trustee

              	 	
                X

              	 	 	 
	
                Originator
                  of 20% or more of pool assets as of the Cut-off Date

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

              	 	 
	
                3

              	
                Sales
                  of Securities and Use of Proceeds

              	 	 	 	 	 
	
                Information
                  from Item 2(a) of Part II of Form 10-Q:

                 

                With
                  respect to any sale of securities by the sponsor, depositor or
                  issuing
                  entity, that are backed by the same asset pool or are otherwise
                  issued by
                  the issuing entity, whether or not registered, provide the sales
                  and use
                  of proceeds information in Item 701 of Regulation S-K. Pricing
                  information
                  can be omitted if securities were not registered.

              	 	 	 	
                X

              	 
	
                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)

              	 	
                X

              	 	 	 
	
                5

              	
                Submission
                  of Matters to a Vote of Security Holders

              	 	 	 	 	 
	
                Information
                  from Item 4 of Part II of Form 10-Q

              	 	
                X

              	 	 	 
	
                6

              	
                Significant
                  Obligors of Pool Assets

              	 	 	 	 	 
	
                Item
                  1112(b) - Significant
                  Obligor Financial Information*

              	 	 	 	
                X

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

              	 	 	 	 	 
	
                7

              	
                Significant
                  Enhancement Provider Information

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

              	 	 	 	 	 
	
                Determining
                  applicable disclosure threshold

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information*

              	 	 	 	 	 
	
                Determining
                  current maximum probable exposure

              	 	 	 	
                X

              	 
	
                Determining
                  current significance percentage

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

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

              	 	 	 	 	 
	
                8

              	
                Other
                  Information

              	 	 	 	 	 
	 	
                Disclose
                  any information required to be reported on Form 8-K during the
                  period
                  covered by the Form 10-D but not reported

              	
                The
                  Responsible Party for the applicable Form 8-K item as indicated
                  below.

              
	
                9

              	
                Exhibits

              	 	 	 	 	 
	
                Distribution
                  report

              	 	
                X

              	 	 	 
	
                Exhibits
                  required by Item 601 of Regulation S-K, such as material
                  agreements

              	 	 	 	
                X

              	 
	
                8-K

              	
                Must
                  be filed within four business days of an event reportable on Form
                  8-K.

              
	
                1.01

              	
                Entry
                  into a Material Definitive Agreement

              	 	 	 	 	 
	
                Disclosure
                  is required regarding entry into or amendment of any definitive
                  agreement
                  that is material to the securitization, even if depositor is not
                  a party.
                  

                 

                Examples:
                  servicing agreement, custodial agreement.

                 

                Note:
                  disclosure not required as to definitive agreements that are fully
                  disclosed in the prospectus

              	
                X

              	
                X 

              	 	
                X 

              	
                X

              
	
                1.02

              	
                Termination
                  of a Material Definitive Agreement

              	
                X

              	
                X 

              	 	
                X

              	
                X 

              
	
                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.

              	 	 	 	 	 
	
                1.03

              	
                Bankruptcy
                  or Receivership

              	 	 	 	 	 
	
                Disclosure
                  is required regarding the bankruptcy or receivership, if known
                  to the
                  Master Servicer, with respect to any of the following: 

                 

                Sponsor
                  (Seller), Depositor, Master Servicer, Certificate Administrator,
                  Trustee,
                  significant obligor, credit enhancer (10% or more), derivatives
                  counterparty, Custodian

              	
                X

              	
                X 

              	
                X

              	
                X 

              	
                X

              
	
                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 Statement to Certificateholders

              	
                X

              	
                X

              	 	 	 
	
                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

              	 	
                X

              	 	
                X

              	 
	
                5.03

              	
                Amendments
                  to Articles of Incorporation or Bylaws; Change in Fiscal
                  Year

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

              	 	 	 	
                X

              	 
	
                5.06

              	
                Change
                  in Shell Company Status

              	 	 	 	 	 
	
                [Not
                  applicable to ABS issuers]

              	 	 	 	
                X

              	 
	
                6.01

              	
                ABS
                  Informational and Computational Material

              	 	 	 	 	 
	
                [Not
                  included in reports to be filed under Section 3.18]

              	 	 	 	
                X

              	 
	
                6.02

              	
                Change
                  of Master Servicer or Trustee

              	 	 	 	 	 
	
                Requires
                  disclosure of any removal, replacement, substitution or addition
                  of any
                  master servicer, affiliated servicer, other servicer servicing
                  10% or more
                  of pool assets at time of report, other material servicers, certificate
                  administrator or trustee. 

              	
                X

              	
                X

              	 	
                X

              	 
	 	
                Reg
                  AB disclosure about any new servicer is also required.

              	
                X

              	 	 	 	 
	
                Reg
                  AB disclosure about any new trustee is also required.

              	 	
                X

              	 	 	 
	
                6.03

              	
                Change
                  in Credit Enhancement or Other External Support [In this transaction
                  there
                  is no external enhancement or other 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.
                  

              	 	
                X

              	 	
                X

              	 
	 	
                Reg
                  AB disclosure about any new enhancement provider is also
                  required.

              	 	
                X

              	 	
                X

              	 
	
                6.04

              	
                Failure
                  to Make a Required Distribution

              	 	
                X

              	 	 	 
	
                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.

              	 	 	 	
                X

              	
                 

              
	
                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.

              	 	 	 	
                X

              	 
	
                7.01

              	
                Regulation
                  FD Disclosure

              	
                X

              	
                X

              	
                X

              	
                X

              	 
	
                8.01

              	
                Other
                  Events

              	 	 	 	 	 
	
                Any
                  event, with respect to which information is not otherwise called
                  for in
                  Form 8-K, that the registrant deems of importance to security
                  holders.

              	 	 	 	
                X

              	 
	 	
                The
                  Responsible Party applicable to reportable event.

              	 	 	 	 	 
	
                9.01

              	
                Financial
                  Statements and Exhibits

              	
                The
                  Responsible Party applicable to reportable event.

              
	 	
                Must
                  be filed within 90 days of the fiscal year end for the
                  registrant.

              
	 	
                9B

              	
                Other
                  Information

              	 	 	 	 	 
	 	 	
                Disclose
                  any information required to be reported on Form 8-K during the
                  fourth
                  quarter covered by the Form 10-K but not reported

              	
                The
                  Responsible Party for the applicable Form 8-K item as indicated
                  above.

              
	 	
                15

              	
                Exhibits
                  and Financial Statement Schedules

              	 	 	 	 	 
	
                Item
                  1112(b) - Significant
                  Obligor Financial Information

              	 	 	 	
                X

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

              	 	 	 	 	 
	
                Determining
                  applicable disclosure threshold

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information

              	 	 	 	 	 
	
                Determining
                  current maximum probable exposure

              	 	 	 	
                X

              	 
	 	 	
                Determining
                  current significance percentage

              	 	
                X

              	 	 	 
	
                Requesting
                  required financial information or effecting incorporation by
                  reference

              	 	
                X

              	 	 	 
	
                Item
                  1117 - Legal proceedings pending against the following entities,
                  or their
                  respective property, that is material to Certificateholders, including
                  proceedings known to be contemplated by governmental
                  authorities:

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Trustee

              	 	
                X 

              	 	 	 
	
                Issuing
                  entity

              	 	 	 	
                X

              	 
	
                Master
                  Servicer, servicing 20% or more of pool assets at time of report,
                  other
                  material servicers

              	
                X

              	 	 	 	 
	
                Originator
                  of 20% or more of pool assets as of the Cut-off Date

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

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

              	 	 	 	 	 
	
                Sponsor
                  (Seller)

              	 	 	 	 	
                X

              
	
                Depositor

              	 	 	 	
                X

              	 
	
                Trustee

              	 	
                X 

              	 	 	 
	
                Master
                  Servicer, affiliated Servicer, other Servicer servicing 20% or
                  more of
                  pool assets at time of report, other material servicers

              	
                X

              	 	 	 	 
	
                Originator

              	 	 	 	
                X

              	 
	
                Custodian

              	 	 	
                X

              	 	 
	
                Credit
                  Enhancer/Support Provider

              	 	 	 	
                X

              	 
	
                Significant
                  Obligor

              	 	 	 	
                X

              	 
	
                Item
                  1122 - Assessment of Compliance with Servicing
                  Criteria

              	
                X

              	
                X

              	
                X

              	 	 
	
                Item
                  1123 - Servicer Compliance Statement

              	
                X

              	 	 	 	 

      

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        
        

      

    

    EXHIBIT
      P

    

    ADDITIONAL
      DISCLOSURE NOTIFICATION

     

    Bear
      Stearns Asset Backed Securities I LLC

    383
      Madison Avenue

    New
      York,
      New York 10179

    Fax:
      (212) 272-2000

    E-mail:
      regabnotifications@bear.com

     

    Wells
      Fargo Bank, N.A. as Trustee 

    9062
      Old
      Annapolis Road

    Columbia,
      Maryland 21045

    Fax:
      (410) 715-2380

    E-mail:
      cts.sec.notifications@wellsfargo.com

     

    Attn:
      Corporate Trust Services - BSMF I 2006-AC1-SEC REPORT PROCESSING

     

    RE:
      **Additional Form [     ]
      Disclosure**Required

     

    Ladies
      and Gentlemen:

     

    In
      accordance with Section 4.18 of the Pooling and Servicing Agreement, dated
      as of
      July 1, 2006, among EMC Mortgage Corporation, as Seller and Master Servicer,
      and
      Wells Fargo Bank, National Association, as Trustee. The Undersigned, as [NAME
      OF
      PARTY], 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:

            	 

    

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

      EXHIBIT
        Q

      

      LOAN
        LEVEL FORMAT FOR TAPE INPUT, 

      SERVICER
        PERIOD REPORTING

      

      The
        format for the tape should be:

      

      1.  
        Record length of 240

      2.  
        Blocking factor of 07 records per block

      3.  
        ASCII

      4.  
        Unlabeled tape

      5.  
        6250 or 1600 BPI (please indicate)

      

      
        	 	 	 	 	 	 	
                COBOL

              
	
                Field
                  Name

              	 	
                Position

              	 	
                Length

              	 	
                "picture"

              
	
                [Reserved]

              	 	
                001-002

              	 	
                2

              	 	
                "01"

              
	
                Unit
                  Code

              	 	
                003-004

              	 	
                2

              	 	
                "
                  "

              
	
                Loan
                  Number

              	 	
                005-014

              	 	
                10

              	 	
                X(10)

              
	
                Borrower
                  Name 

              	 	
                015-034

              	 	
                20

              	 	
                X(20)

              
	
                Old
                  Payment Amount

              	 	
                035-045

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Old
                  Loan Rate

              	 	
                046-051

              	 	
                6

              	 	
                9(2)V9(04)

              
	
                Servicer
                  Fee Rate

              	 	
                052-057

              	 	
                6

              	 	
                9(2)V9(04)

              
	
                Servicer
                  Ending Balance

              	 	
                058-068

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Servicer
                  Next Due Date

              	 	
                069-076

              	 	
                8

              	 	
                CCYYMMDD

              
	
                Curtail
                  Amt 1 - Before

              	 	
                077-087

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Curtail
                  Date 1

              	 	
                088-095

              	 	
                8

              	 	
                CCYYMMDD

              
	
                Curtail
                  Amt 1 - After

              	 	
                096-106

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Curtail
                  Amt 2 - Before

              	 	
                107-117

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Curtail
                  Date 2

              	 	
                118-125

              	 	
                8

              	 	
                CCYYMMDD

              
	
                Curtail
                  Amt 2 - After

              	 	
                126-136

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Curtail
                  Amt 3 - Before

              	 	
                137-147

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Curtail
                  Date 3

              	 	
                148-155

              	 	
                8

              	 	
                CCYYMMDD

              
	
                Curtail
                  Amt 3 - After

              	 	
                156-166

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                New
                  Payment Amount 

              	 	
                167-177

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                New
                  Loan Rate 

              	 	
                178-183

              	 	
                6

              	 	
                9(2)V9(04)

              
	
                Index
                  Rate 

              	 	
                184-189

              	 	
                6

              	 	
                9(2)V9(04)

              
	
                Remaining
                  Term 

              	 	
                190-192

              	 	
                3

              	 	
                9(3)

              
	
                Liquidation
                  Amount

              	 	
                193-203

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Action
                  Code 

              	 	
                204-205

              	 	
                2

              	 	
                X(02)

              
	
                Scheduled
                  Principal 

              	 	
                206-216

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Scheduled
                  Interest 

              	 	
                217-227

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                Scheduled
                  Ending Balance 

              	 	
                228-238

              	 	
                11

              	 	
                S9(9)V9(02)

              
	
                FILLER

              	 	
                239-240

              	 	
                2

              	 	
                X(02)

              

      

       

       

      Trailer
        Record:

      

      
        	
                Number
                  of Records

              	 	
                001-006

              	 	
                6

              	 	
                9(06)

              
	
                FILLER

              	 	
                007-240

              	 	
                234

              	 	
                X(234)

              

      

      

      

      Field
        Names and Descriptions:

      

      
        	
                Field
                  Name

              	 	
                Description

              
	 	 	 
	
                [Reserved]

              	 	
                Hard
                  code as "01" used internally

              
	 	 	 
	
                Unit
                  Code

              	 	
                Hard
                  code as " " used internally

              
	 	 	 
	
                Loan
                  Number

              	 	
                Investor's
                  loan number

              
	 	 	 
	
                Borrower
                  Name

              	 	
                Last
                  name of borrower

              
	 	 	 
	
                Old
                  Payment Amount

              	 	
                P&I
                  amount used for the applied payment

              
	 	 	 
	
                Old
                  Loan Rate

              	 	
                Gross
                  interest rate used for the applied payment

              
	 	 	 
	
                Servicer
                  Fee Rate

              	 	
                Servicer's
                  fee rate

              
	 	 	 
	
                Servicer
                  Ending Balance

              	 	
                Ending
                  actual balance after a payment has been applied

              
	 	 	 
	
                Servicer
                  Next Due Date

              	 	
                Borrower's
                  next due date for a payment

              
	 	 	 
	
                Curtailment
                  Amount 1 - Before

              	 	
                Amount
                  of curtailment applied before the payment

              
	 	 	 
	
                Curtailment
                  Date 1 

              	 	
                Date
                  of curtailment should coincide with the payment date applicable
                  to the
                  curtailment

              
	 	 	 
	
                Curtailment
                  Amount 1 - After

              	 	
                Amount
                  of curtailment applied after the payment

              
	 	 	 
	
                Curtailment
                  Amount 2 - Before

              	 	
                Amount
                  of curtailment applied before the payment

              
	 	 	 
	
                Curtailment
                  Date 2 

              	 	
                Date
                  of curtailment should coincide with the payment date applicable
                  to the
                  curtailment

              
	 	 	 
	
                Curtailment
                  Amount 2 - After

              	 	
                Amount
                  of curtailment applied after the payment

              
	 	 	 
	
                Curtailment
                  Amount 3 - Before

              	 	
                Amount
                  of curtailment applied before the payment

              
	 	 	 
	
                Curtailment
                  Date 3 

              	 	
                Date
                  of curtailment should coincide with the payment date applicable
                  to the
                  curtailment

              
	 	 	 
	
                Curtailment
                  Amount 3 - After

              	 	
                Amount
                  of curtailment applied after the payment

              
	 	 	 
	
                New
                  Payment Amount

              	 	
                For
                  ARM, Equal, or Buydown loans, when a payment change occurs, this
                  is the
                  scheduled payment

              
	 	 	 
	
                New
                  Loan Rate

              	 	
                For
                  ARM loans, when the gross interest rate change occurs, this is
                  the
                  scheduled rate

              
	 	 	 
	
                Index
                  Rate

              	 	
                For
                  ARM loans, the index rate used in calculating the new gross interest
                  rate

              
	 	 	 
	
                Remaining
                  Term

              	 	
                For
                  ARM loans, the number of months left on the loan used to determine
                  the new
                  P&I amount

              
	 	 	 
	
                Liquidation
                  Amount

              	 	
                The
                  payoff amount of the loan

              
	 	 	 
	
                Action
                  Code

              	 	
                For
                  delinquent loans:

              
	 	 	
                12
                  -- Relief Provisions

              
	 	 	
                15
                  -- Bankruptcy/Litigation

              
	 	 	
                20
                  -- Referred for Deed-in-lieu, short sale

              
	 	 	
                30
                  -- Referred to attorney to begin foreclosure

              
	 	 	
                60
                  -- Loan Paid in full

              
	 	 	
                70
                  -- Real Estate Owned

              
	 	 	 
	
                Scheduled
                  Principal

              	 	
                Amount
                  of principal from borrower payment due to bondholder

              
	 	 	 
	
                Scheduled
                  Interest

              	 	
                Amount
                  of interest from borrower payment due to bondholder

              
	 	 	 
	
                Scheduled
                  Ending Balance

              	 	
                Ending
                  scheduled balance of loan

              
	 	 	 
	
                FILLER

              	 	
                Should
                  be filled with spaces

              

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        R

       

      REPORTING
        DATA FOR DEFAULTED LOANS

       

      Data
        must
        be submitted to Wells Fargo Bank in an Excel
        spreadsheet format with fixed field names and data type. The Excel
        spreadsheet should be used as a template consistently every month when
        submitting data. 

       

      Table:
        Delinquency

      

      
        	 	
                Name

              	
                Type

              	
                Size

              
	 	
                Servicer
                  Loan #

              	
                Number
                  (Double)

              	
                8

              
	 	
                Investor
                  Loan #

              	
                Number
                  (Double)

              	
                8

              
	 	
                Borrower
                  Name

              	
                Text

              	
                20

              
	 	
                Address

              	
                Text

              	
                30

              
	 	
                State

              	
                Text

              	
                2

              
	 	
                Due
                  Date

              	
                Date/Time

              	
                8

              
	 	
                Action
                  Code

              	
                Text

              	
                2

              
	 	
                FC
                  Received

              	
                Date/Time

              	
                8

              
	 	
                File
                  Referred to Atty

              	
                Date/Time

              	
                8

              
	 	
                NOD

              	
                Date/Time

              	
                8

              
	 	
                Complaint
                  Filed

              	
                Date/Time

              	
                8

              
	 	
                Sale
                  Published

              	
                Date/Time

              	
                8

              
	 	
                Target
                  Sale Date

              	
                Date/Time

              	
                8

              
	 	
                Actual
                  Sale Date

              	
                Date/Time

              	
                8

              
	 	
                Loss
                  Mit Approval Date

              	
                Date/Time

              	
                8

              
	 	
                Loss
                  Mit Type

              	
                Text

              	
                5

              
	 	
                Loss
                  Mit Estimated Completion Date

              	
                Date/Time

              	
                8

              
	 	
                Loss
                  Mit Actual Completion Date

              	
                Date/Time

              	
                8

              
	 	
                Loss
                  Mit Broken Plan Date

              	
                Date/Time

              	
                8

              
	 	
                BK
                  Chapter

              	
                Text

              	
                6

              
	 	
                BK
                  Filed Date

              	
                Date/Time

              	
                8

              
	 	
                Post
                  Petition Due

              	
                Date/Time

              	
                8

              
	 	
                Motion
                  for Relief

              	
                Date/Time

              	
                8

              
	 	
                Lift
                  of Stay

              	
                Date/Time

              	
                8

              
	 	
                RFD

              	
                Text

              	
                10

              
	 	
                Occupant
                  Code

              	
                Text

              	
                10

              
	 	
                Eviction
                  Start Date

              	
                Date/Time

              	
                8

              
	 	
                Eviction
                  Completed Date

              	
                Date/Time

              	
                8

              
	 	
                List
                  Price

              	
                Currency

              	
                8

              
	 	
                List
                  Date

              	
                Date/Time

              	
                8

              
	 	
                Accepted
                  Offer
                  Price

              	
                Currency

              	
                8

              
	 	
                Accepted
                  Offer
                  Date

              	
                Date/Time

              	
                8

              
	 	
                Estimated
                  REO Closing Date

              	
                Date/Time

              	
                8

              
	 	
                Actual
                  REO Sale Date

              	
                Date/Time

              	
                8

              

      

       

       

      
        	·  	
                Items
                  in bold are MANDATORY FIELDS. We must receive information in those
                  fields
                  every month in order for your file to be accepted.

              

      

       

      The
        Action Code Field should show the applicable numeric code to indicate that
        a
        special action is being taken. The Action Codes are the following:

       

      12-Relief
        Provisions

      15-Bankruptcy/Litigation

      20-Referred
        for Deed-in-Lieu

      30-Referred
        fore Foreclosure

      60-Payoff

      65-Repurchase

      70-REO-Held
        for Sale

      71-Third
        Party Sale/Condemnation

      72-REO-Pending
        Conveyance-Pool Insurance claim filed

       

      Wells
        Fargo Bank will accept alternative Action Codes to those above, provided
        that
        the Codes are consistent with industry standards. If Action Codes other than
        those above are used, the Servicer must supply Wells Fargo Bank with a
        description of each of the Action Codes prior to sending the file.

       

      Description
        of Action Codes:

       

      Action
        Code 12
        - To
        report a Mortgage Loan for which the Borrower has been granted relief for
        curing
        a delinquency. The Action Date is the date the relief is expected to end.
        For
        military indulgence, it will be three months after the Borrower's discharge
        from
        military service.

       

      Action
        Code 15
        - To
        report the Borrower's filing for bankruptcy or instituting some other type
        of
        litigation that will prevent or delay liquidation of the Mortgage Loan. The
        Action Date will be either the date that any repayment plan (or forbearance)
        instituted by the bankruptcy court will expire or an additional date by which
        the litigation should be resolved.

       

      Action
        Code 20
        - To
        report that the Borrower has agreed to a deed-in-lieu or an assignment of
        the
        property. The Action Date is the date the Servicer decided to pursue a
        deed-in-lieu or the assignment.

       

      Action
        Code 30
        - To
        report that the decision has been made to foreclose the Mortgage Loan. The
        Action Date is the date the Servicer referred the case to the foreclosure
        attorney.

       

      Action
        Code 60
        - To
        report that a Mortgage Loan has been paid in full either at, or prior to,
        maturity.

       

      Action
        Code 65
        - To
        report that the Servicer is repurchasing the Mortgage Loan.

       

      Action
        Code 70
        - To
        report that a Mortgage Loan has been foreclosed or a deed-in-lieu of foreclosure
        has been accepted, and the Servicer, on behalf of the owner of the Mortgage
        Loan, has acquired the property and may dispose of it. The Action Date is
        the
        date of the foreclosure sale or, for deeds-in-lieu, the date the deed is
        recorded on behalf of the owner of the Mortgage Loan.

       

      Action
        Code 71
        - To
        report that a Mortgage Loan has been foreclosed and a third party acquired
        the
        property, or a total condemnation of the property has occurred. The Action
        Date
        is the date of the foreclosure sale or the date the condemnation award was
        received.

      

      Action
        Code 72
        - To
        report that a Mortgage Loan has been foreclosed, or a deed-in-lieu has been
        accepted, and the property may be conveyed to the mortgage insurer and the
        pool
        insurance claim has been filed. The Action Date is the date of the foreclosure
        sale, or, for deeds-in-lieu, the date of the deed for conventional
        mortgages.

       

      The
        Loss
        Mit Type field should show the approved Loss Mitigation arrangement. The
        following are acceptable:

      

      
        	 	
                ASUM-
                  

              	
                Approved
                  Assumption

              
	 	
                BAP-

              	
                Borrower
                  Assistance Program

              
	 	
                CO-

              	
                Charge
                  Off

              
	 	
                DIL-

              	
                Deed-in-Lieu

              
	 	
                FFA-

              	
                Formal
                  Forbearance Agreement

              
	 	
                MOD-

              	
                Loan
                  Modification

              
	 	
                PRE-

              	
                Pre-Sale

              
	 	
                SS-  

              	
                Short
                  Sale

              
	 	
                MISC-

              	
                Anything
                  else approved by the PMI or Pool
                  Insurer

              

      

       

      Wells
        Fargo Bank will accept alternative Loss Mitigation Types to those above,
        provided that they are consistent with industry standards. If Loss Mitigation
        Types other than those above are used, the Servicer must supply Wells Fargo
        Bank
        with a description of each of the Loss Mitigation Types prior to sending
        the
        file.

       

      The
        Occupant Code field should show the current status of the property. The
        acceptable codes are:

       

      Mortgagor

      Tenant

      Unknown
        

      Vacant

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