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ASSIGNMENT AND ASSUMPTION AGREEMENT

Assignment and Assumption Agreement

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BANC OF AMERICA FUNDING 2006-5 TRUST | J.P. Morgan Mortgage Acquisition Corp | Chase Home Finance LLC | JPMorgan Chase Bank ,National Association

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Title: ASSIGNMENT AND ASSUMPTION AGREEMENT
Governing Law: New York     Date: 10/13/2006

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                                                                 EXHIBIT 10.6(D)
 
                                                               EXECUTION VERSION
 
 
                       ASSIGNMENT AND ASSUMPTION AGREEMENT
 
                  THIS ASSIGNMENT AND ASSUMPTION AGREEMENT, dated June 30, 2006,
(the "Agreement") among J.P. Morgan Mortgage Acquisition Corp., ("Assignor"),
Bank of America, National Association, ("Assignee"), JPMorgan Chase Bank,
National Association ("JPM" and a "Company") and Chase Home Finance LLC ("CHF"
and a "Company" and together with JPM the "Companies"):
 
                                    RECITALS
 
                  The Assignor and the Companies are parties to that certain
Flow Mortgage Loan Purchase, Warranties and Servicing Agreement, dated as of May
1, 2004, as amended by Amendment No. 1, dated as of January 1, 2005, Amendment
No. 2, dated as of December 1, 2005, Amendment Reg AB, dated as of January 1,
2006 and as amended from time to time (the "Purchase, Warranties and Servicing
Agreement"), which is attached hereto as Exhibit A;
 
                  The Assignor desires to grant, transfer and assign to the
Assignee all of the right, title and interest of Assignor, as Purchaser, in, to
and under (a) those certain Mortgage Loans listed on Exhibit B attached hereto
(the "Mortgage Loans") and (b) the Purchase, Warranties and Servicing Agreement
with respect to the Mortgage Loans;
 
                  CHF and the Assignee are parties to that certain Mortgage Loan
Purchase, Warranties and Servicing Agreement (the "MLPWA"), dated as of January
1, 2005, and JPM, CHF and the Assignee are parties to that certain Amendment Reg
AB (the "Amendment Reg AB") dated as of January 1, 2006, each as amended from
time to time, which are attached hereto as Exhibit C and the terms of which are
incorporated by reference for the purposes provided herein and made a part
hereof;
 
                  The Assignor and the Companies have agreed to make certain
representations and warranties with respect to the Mortgage Loans in accordance
with the MLPWA; and
 
                  The Assignee desires that JPM service the Mortgage Loans in
accordance with terms of the MLPWA;
 
                  Accordingly, for and in consideration of the sum of TEN
DOLLARS ($10.00) and other valuable consideration, the receipt and sufficiency
of which hereby are acknowledged, and of the mutual covenants herein contained,
the parties hereto hereby agree as follows:
 
                  I. Assignment.
 
                  (a) The Assignor hereby grants, transfers and assigns to
         Assignee all of the right, title and interest of Assignor, as
         Purchaser, in, to and under (i) the Mortgage Loans and (ii) the
         Purchase, Warranties and Servicing Agreement, with respect to the
         Mortgage Loans. The Assignee shall be entitled to all scheduled
         payments due on the Mortgage Loans after June 1, 2006 (the "Assigned
         Loans Cut-off Date") and all unscheduled payments or other proceeds or
         other recoveries on the Mortgage Loans received on and after the
         Assigned Loans Cut-off Date.
 
 
 
                  (b) The Assignor specifically reserves and does not assign to
         the Assignee hereunder any and all right, title and interest in, to and
         under and all obligations of the Assignor with respect to any mortgage
         loans subject to the Purchase, Warranties and Servicing Agreement which
         are not the Mortgage Loans set forth on Exhibit B attached hereto and
         are not the subject of this Agreement.
 
                  II. Assignor Representations and Warranties. The Assignor
warrants and represents to, and covenants with, the Assignee that:
 
                  (a) The Assignor is a corporation duly organized, validly
         existing and in good standing under the laws of Delaware and has all
         licenses necessary to carry out its business as now being conducted,
         and is licensed and qualified to transact business in each state in
         which any Mortgaged Property is located or is otherwise exempt under
         applicable law from such licensing or qualification or is otherwise not
         required under applicable law to effect such licensing or qualification
         and no demand for such licensing or qualification has been made upon
         such Assignor by any such state, and in any event such Assignor is in
         compliance with the laws of any such state to the extent necessary to
         ensure the enforceability of each Mortgage Loan;
 
                  (b) The Assignor has the full power and authority and legal
         right to hold, transfer and convey each Mortgage Loan, to sell each
         Mortgage Loan and to execute, deliver and perform, and to enter into
         and consummate all transactions contemplated by this Agreement and to
         conduct its business as presently conducted, has duly authorized the
         execution, delivery and performance of this Agreement and any
         agreements contemplated hereby, has duly executed and delivered this
         Agreement, and any agreements contemplated hereby, and this Agreement
         constitutes a legal, valid and binding obligation of the Assignor,
         enforceable against it in accordance with its terms, and all requisite
         corporate action has been taken by the Assignor to make this Agreement
         and all agreements contemplated hereby valid and binding upon the
         Assignor in accordance with their terms;
 
                  (c) None of the execution and delivery of this Agreement, the
         sale of the Mortgage Loans to the Assignee, the consummation of the
         transactions contemplated hereby, or the fulfillment of or compliance
         with the terms and conditions of this Agreement will conflict with any
         of the terms, conditions or provisions of the Assignor's charter or by
         laws or materially conflict with or result in a material breach of any
         of the terms, conditions or provisions of any legal restriction or any
         agreement or instrument to which the Assignor is now a party or by
         which it is bound, or constitute a default or result in an acceleration
         under any of the foregoing, or result in the material violation of any
         law, rule, regulation, order, judgment or decree to which the Assignor
         or its property is subject or impair the ability of the Assignee to
         realize on the Mortgage Loans or impair the value of the Mortgage
         Loans;
 
                  (d) There is no litigation, suit, proceeding or investigation
         pending or threatened, or any order or decree outstanding, with respect
         to the Assignor which is reasonably likely to have a material adverse
         effect on the sale of the Mortgage Loans, the execution, delivery,
         performance or enforceability of this Agreement, or which is
 
 
 
                                       2
 
 
 
 
         reasonably likely to have a material adverse effect on the financial
         condition of the Assignor;
 
                  (e) No consent, approval, authorization or order of any court
         or governmental agency or body is required for the execution, delivery
         and performance by the Assignor of or compliance by the Assignor with
         this Agreement, except for consents, approvals, authorizations and
         orders which have been obtained;
 
                  (f) The consummation of the transactions contemplated by this
         Agreement is in the ordinary course of business of the Assignor, and
         the transfer, assignment and conveyance of the Mortgage Notes and the
         Mortgages by the Assignor pursuant to this Agreement are not subject to
         bulk transfer or any similar statutory provisions in effect in any
         applicable jurisdiction;
 
                  (g) The Assignor used no adverse selection procedures in
         selecting from among the outstanding first lien residential mortgage
         loans owned by it which were available for inclusion in the sale to
         Assignee;
 
                  (h) The Assignor will treat the sale of the Mortgage Loans to
         the Assignee as a sale for reporting and accounting purposes and, to
         the extent appropriate, for federal income tax purposes;
 
                  (i) The Assignor does not believe, nor does it have any cause
         or reason to believe, that it cannot perform each and every covenant
         contained in this Agreement. The Assignor is solvent and the sale of
         the Mortgage Loans will not cause the Assignor to become insolvent. The
         sale of the Mortgage Loans is not undertaken with the intent to hinder,
         delay or defraud any of the Assignor's creditors;
 
                  (j) The Assignor has not dealt with any broker, investment
         banker, agent or other person that may be entitled to any commission or
         compensation in connection with the sale of the Mortgage Loans;
 
                  (k) No statement, tape, diskette, form, report or other
         document (the "Delivered Items") prepared by, or on behalf of, Assignor
         (other than Delivered Items prepared by or on behalf of the Companies)
         pursuant to this Agreement or in connection with the transactions
         contemplated hereby, contains or will contain any statement that is or
         will be inaccurate or misleading in any material respect; and
 
                  (l) (i) attached hereto as Exhibit A is a true, accurate and
         complete copy of the Purchase, Warranties and Servicing Agreement, (ii)
         such agreement is in full force and effect as of the date hereof, (iii)
         such agreement has not been amended or modified in any respect and (iv)
         no notice of termination has been given to such party under such
         agreement.
 
                  III. Holding Period Representations and Warranties.
 
                  (a) The Assignor further warrants and represents to the
         Assignee that with respect to each of the Mortgage Loans, each
         representation and warranty set forth in
 
 
                                       3
 
 
 
 
 
 
         Section 3.02 of the MLPWA is deemed to be made as of the date hereof
         and is true and correct in all material respects with respect to the
         period of time (in each case the "Holding Period") following the date
         on which each Company sells the Mortgage Loans to the Assignor, which
         shall be such dates as noted on Exhibit B (the "Company Closing Date")
         up to and including the date on which the Assignor assigns the Mortgage
         Loans to the Assignee, which shall be June 30, 2006 (the "Assignment
         Closing Date"), but only to the extent that such representation or
         warranty was true and correct when made by the Companies on the
         applicable Company Closing Date. In the event that the Assignee or the
         Assignor discovers a breach of a representation or warranty with
         respect to a Mortgage Loan arising during the related Holding Period,
         which materially and adversely affects the value of such Mortgage Loan
         or the interest of the Assignee therein, the party discovering such
         breach shall give prompt written notice to the other parties hereto and
         provide the Assignor with evidence of such breach, and the Assignor
         shall have 90 days following the discovery or receipt of notice of such
         breach in which to cure such breach or repurchase the affected Mortgage
         Loan. Subject to subparagraph (b) below, if the Assignor is unable to
         cure such breach, then the Assignor shall promptly repurchase each
         affected Mortgage Loan at the Repurchase Price (as defined below). For
         purposes of making certain representations and warranties contemplated
         in this section, each reference in Section 3.02 of the MLPWA (i) to the
         "Cut-off Date" shall be deemed to be a reference to the Assigned Loans
         Cut-off Date, (ii) to the "Mortgage Loan Schedule" shall be deemed to
         be a reference to Exhibit B attached hereto and (iii) to the "Closing
         Date" shall be deemed to be a reference to the date hereof.
 
                  (b) The "Repurchase Price" with respect to any affected
         Mortgage Loan shall be an amount equal to (a) the Purchase Price
         Percentage, multiplied by the outstanding principal balance of such


 
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