ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

                ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

      Assignment, Assumption and Recognition Agreement, dated September 28,

2006, among Bank of America, National Association, a national banking

association ("Assignor"), Banc of America Funding Corporation, a Delaware

corporation ("BAFC"), U.S. Bank National Association, a national banking

association, as trustee of the Banc of America Funding 2006-5 Trust

("Assignee"), CitiMortgage, Inc., a New York corporation ("CitiMortgage"), as

master servicer of the Banc of America Funding 2006-5 Trust, and SunTrust

Mortgage, Inc., a Virginia corporation ("SunTrust").

      WHEREAS, pursuant to (i) that certain Flow Sale and Servicing Agreement,

dated as of February 1, 2004, by and between Assignor (as successor in interest

to Banc of America Mortgage Capital Corporation), as purchaser, and SunTrust, as

seller, (ii) that certain Amendment No. 1, dated as of June 1, 2004, by and

between the Assignor and SunTrust, (iii) that certain Master Assignment,

Assumption and Recognition Agreement, dated September 1, 2004, by and among Banc

of America Mortgage Capital Corporation, SunTrust, the Assignor and Wachovia

Bank, National Association, (iv) that certain Amendment No. 2, dated as of

November 1, 2004, by and between the Assignor and SunTrust, (v) that certain

Regulation AB Compliance Addendum to the Flow Sale and Servicing Agreement,

dated as of January 1, 2006, by and between the Assignor and SunTrust, (vi) that

certain Memorandum of Sale, dated as of May 25, 2006, by and between the

Assignor and SunTrust, (vii) that certain Memorandum of Sale, dated as of June

9, 2006, by and between the Assignor and SunTrust, and (viii) that certain

Memorandum of Sale, dated as of July 25, 2006, by and between the Assignor and

SunTrust (collectively, the "Sale and Servicing Agreement"), each of which is

attached in Appendix I hereto, the Assignor purchased the Mortgage Loans (as

defined herein) from SunTrust and SunTrust currently services the Mortgage

Loans;

      WHEREAS, on the date hereof, the Assignor is transferring all of its

right, title and interest in and to the Mortgage Loans to BAFC;

      WHEREAS, on the date hereof, BAFC is transferring all of its right, title

and interest in and to the Mortgage Loans to the Assignee; and

      WHEREAS, on the date hereof, CitiMortgage, as master servicer (in such

capacity, the "Master Servicer"), is entering into a Pooling and Servicing

Agreement, dated the date hereof (the "Pooling Agreement"), among BAFC, the

Master Servicer, Wells Fargo Bank, N.A., as securities administrator (the

"Securities Administrator"), and the Assignee, pursuant to which the Master

Servicer will supervise, monitor and oversee the servicing of the Mortgage

Loans.

      For and in consideration of the sum of one dollar ($1.00) and other

valuable consideration the receipt and sufficiency of which are hereby

acknowledged, and of the mutual covenants herein contained, the parties hereto

hereby agree as follows:

      1.    The Assignor hereby grants, transfers and assigns to BAFC, and BAFC

hereby grants, transfers and assigns to the Assignee, all of the right, title

and interest of

the Assignor in, to and under the Sale and Servicing Agreement, and the mortgage

loans delivered under such agreement by SunTrust to the Assignor (who delivered

such mortgage loans to the Assignor) and listed on Exhibit A attached hereto

(the "Mortgage Loans").

      The Assignor specifically reserves and does not assign to BAFC or the

Assignee any right, title and interest in, to or under any mortgage loan subject

to the Sale and Servicing Agreement other than the Mortgage Loans.

      2.    The Assignor warrants and represents to, and covenants with, BAFC

and the Assignee that:

      a.    The Assignor is the lawful owner of the Mortgage Loans with the full

            right to transfer the Mortgage Loans free from any and all claims

            and encumbrances whatsoever;

      b.    The Assignor has not received notice of, and has no knowledge of,

            any offsets, counterclaims or other defenses available to SunTrust

            with respect to the Sale and Servicing Agreement or the Mortgage

            Loans;

      c.    The Assignor has not waived or agreed to any waiver under, or agreed

            to any amendment or other modification of, the Sale and Servicing

            Agreement or the Mortgage Loans, including without limitation the

            transfer of the servicing obligations under the Sale and Servicing

            Agreement. The Assignor has no knowledge of, and has not received

            notice of, any waivers under or amendments or other modifications

            of, or assignments of rights or obligations under, the Sale and

            Servicing Agreement or the Mortgage Loans; and

      d.    Neither the Assignor nor anyone acting on its behalf has offered,

            transferred, pledged, sold or otherwise disposed of the Mortgage

            Loans, any interest in the Mortgage Loans or any other similar

            security to, or solicited any offer to buy or accept a transfer,

            pledge or other disposition of the Mortgage Loans, any interest in

            the Mortgage Loans or any other similar security from, or otherwise

            approached or negotiated with respect to the Mortgage Loans, any

            interest in the Mortgage Loans or any other similar security with,

            any person in any manner, or made any general solicitation by means

            of general advertising or in any other manner, or taken any other

            action which would constitute a distribution of the Mortgage Loans

            under the Securities Act of 1933, as amended (the "Securities Act"),

            or which would render the disposition of the Mortgage Loans a

            violation of Section 5 of the Securities Act or require registration

            pursuant thereto.

      3.    From and after the date hereof, SunTrust shall (i) note the transfer

of the Mortgage Loans to the Assignee in its books and records, (ii) recognize

the Assignee as the owner of the Mortgage Loans and (iii) notwithstanding

anything to the contrary

                                        2

contained in Section 9.01 of the Sale and Servicing Agreement, continue to

service the Mortgage Loans pursuant to the Sale and Servicing Agreement, as

modified by Section 11 of this Agreement, for the benefit of the Assignee.

      4.    SunTrust acknowledges that the Master Servicer, pursuant to the

Pooling Agreement, will administer on behalf of the Assignee the terms and

conditions of the Sale and Servicing Agreement with respect to the Mortgage

Loans. The Master Servicer shall be authorized to enforce directly against

SunTrust any of the obligations of SunTrust to the Assignor or its assignees

provided for in the Sale and Servicing Agreement relating to the Mortgage Loans

including, without limitation, the right to exercise any and all rights of the

Assignor (but not the obligations) under the Sale and Servicing Agreement to

monitor and enforce the obligations of SunTrust thereunder, the right to

terminate SunTrust under the Sale and Servicing Agreement upon the occurrence of

an event of default thereunder, the right to receive all remittances required to

be made by SunTrust under the Sale and Servicing Agreement, the right to receive

all monthly reports and other data required to be delivered by SunTrust under

the Sale and Servicing Agreement, the right to examine the books and records of

SunTrust, indemnification rights, and the right to exercise certain rights of

consent and approval relating to actions taken by SunTrust. All remittances by

SunTrust shall be made to the account or accounts designated by the Master

Servicer to SunTrust in writing from time to time. Wire remittances shall be

sent to:

            Bank Name:            CitiBank (West)

            Bank City/State:      Glendale, CA

            ABA Number:           321171184

            Account Name:         CMI MSD Clearing

            Account Number:       #070-4913896

      5.    The Assignee shall notify SunTrust in writing within 5 business days

thereafter, but in no event later than the next Remittance Date, of the

appointment of any successor to Wells Fargo as Master Servicer under the Pooling

Agreement.

      6.    SunTrust hereby restates as of the date hereof, for the benefit of

each of the other parties hereto, each of the representations and warranties in

Sections 3.01 and 3.02 of the Sale and Servicing Agreement with the same effect

under such Sale and Servicing Agreement as if such representations and

warranties had been made as of the date hereof, provided, however, that with

respect to those representations and warranties that relate to the delinquency

or condition of any Mortgaged Property (as defined in the Sale and Servicing

Agreement), SunTrust restates such representations and warranties as of the

Closing Date (as defined in the Sale and Servicing Agreement). SunTrust hereby

represents and warrants to each of the other parties hereto (i) that it has

serviced the Mortgage Loans in accordance with the terms of the Sale and

Servicing Agreement, (ii) that it has taken no action nor omitted to take any

required action the omission of which would have the effect of impairing any

mortgage insurance or guarantee on the Mortgage Loans and (iii) that any

information provided by it on or before the date hereof to any of the parties

hereto is true and correct.

                                        3

      7.    SunTrust hereby agrees to cooperate with BAFC, the Master Servicer

and the Securities Administrator to enable BAFC, the Master Servicer and the

Securities Administrator to fully comply with all Securities and Exchange

Commission ("SEC") disclosure and reporting requirements in effect from time to

time with respect to the trust created by the Pooling Agreement (which shall be

named "Banc of America Funding 2006-5 Trust") (the "Trust") and any securities

representing ownership interests in or backed by assets of the Trust, including

without limitation, the SEC's published rules regarding asset-backed securities

(Release Nos. 33-8518); 34-50905; File No. S7-21-0433-8419).

      8.    SunTrust hereby agrees that, in connection with each Mortgage Loan

of which the related Mortgage has been recorded in the name of MERS or its

designee, it shall take all actions as are necessary to cause the Assignee, as

trustee of the Trust pursuant to the Pooling Agreement, to be shown as the owner

of such Mortgage Loan on the records of MERS for purposes of the system of

recording transfers of beneficial ownership of mortgages maintained by MERS.

      9.    In accordance with Sections 2.01 and 9.01 of the Sale and Servicing

Agreement, the Assignor hereby instructs SunTrust, and SunTrust hereby agrees,

to release from its custody and deliver the contents of the Servicing File (as

defined in the Sale and Servicing Agreement) for each Mortgage Loan to the

Assignee, in its capacity as custodian under the Pooling Agreement, at the

address set forth in Section 12 herein on or before the closing date of the

related Pass-Through Transfer (as defined in the Sale and Servicing Agreement).

      10.   SunTrust hereby agrees that it will make Monthly Advances as

contemplated by Section 5.03 of the Sale and Servicing Agreement through the

Remittance Date prior to the date on which cash is received in connection with

the liquidation of REO Property, subject to the final proviso of the third

sentence of Section 5.03.

      11.   SunTrust, BAFC and the Assignee hereby agree to the following

modifications to the Sale and Servicing Agreement with respect to the Mortgage

Loans:

      a.    Article 1.

            (i) The definition of "Qualified Substitute Mortgage Loan" is hereby

            deleted in its entirety and replaced with the following:

            "A mortgage loan eligible to be substituted by the Company for a

            Deleted Mortgage Loan which must, on the date of such substitution,

            (i) have an outstanding principal balance, after deduction of all

            scheduled payments due in the month of substitution (or in the case

            of a substitution of more than one mortgage loan for a Deleted

            Mortgage Loan, an aggregate principal balance), not in excess of the

            Stated Principal Balance of the Deleted Mortgage Loan; (ii) have a

            Mortgage Loan Remittance Rate not less than, and not more than 2%

            greater than the Mortgage Loan

                                        4

            Remittance Rate of the Deleted Mortgage Loan; (iii) have a remaining

            term to maturity not greater than and not more than one year less

            than that of the Deleted Mortgage Loan; (iv) comply with each

            representation and warranty set forth in Sections 3.01 and 3.02; (v)

            be of the same type as the Deleted Mortgage Loan; (vi) have the same

            Mortgage Interest Rate as the Deleted Mortgage Loan; (vii) have a

            FICO score not less than that of the Deleted Mortgage Loan, (vii)

            have an LTV not greater than that of the Deleted Mortgage Loan; (ix)

            have a credit grade not lower in quality than that of the Deleted

            Mortgage Loan and (x) have the same lien status as the Deleted

            Mortgage Loan."

            (ii) The definition of "Remittance Date" is hereby deleted in its

            entirety and replaced with the following:

            "The eighteenth (18th) day (or if such day is not a Business Day,

            the immediately preceding Business Day) of any month, beginning with

            the First Remittance Date."

      b.    Section 3.02. Section 3.02 is hereby modified by inserting the

            following as subsection (iii):

            "No Mortgage Loan (other than a Mortgage Loan that is a New Jersey

            covered purchase loan originated on or after November 27, 2003

            through July 6, 2004) is a High Cost Loan or Covered Loan, as

            applicable (as such terms are defined in S&P's LEVELS(R) Glossary

            Version 5.7 (or the now-current version thereof) and no Mortgage

            Loan originated on or after October 1, 2002 through March 6, 2003 is

            governed by the Georgia Fair Lending Act."

      c.    Section 4.04. Section 4.04 is hereby modified by adding the

            following sentence after the penultimate sentence:

            "The amount of any losses incurred on funds deposited in the

            Custodial Account shall be deposited by the Company into the

            Custodial Account on the Business Day prior to the Remittance Date."

      d.    Section 4.17. Section 4.17 is hereby modified by replacing the

            phrase "on or before the Remittance Date" in the second line with

            "on or before the 5th Business Day".

      e.    Section 5.02. The third paragraph of Section 5.02 is hereby modified

            to read as follows: Not later than the fifth (5th) Business Day of

            each month, the Company shall furnish to the Purchaser a delinquency

            report in the form set forth in Exhibit F-1, a monthly remittance

            advice in the form set forth in Exhibit F-2, and a realized loss

            report in the form set forth in Exhibit F-3, each in a mutually

            agreeable electronic format, as to the remittance on such Remittance

            Date and as to the period ending on the last day of the month

            preceding such Remittance Date.

                                        5

            The exhibits referenced in this Section 11(e) are attached to this

            Agreement as Exhibit B hereto.

      12.   The Assignee's address for purposes of all notices and

correspondence related to the Mortgage Loans and the Sale and Servicing

Agreement is:

            U.S. Bank National Association

            209 S. LaSalle Street, Suite 300

            Chicago, Illinois 60604

            Attention: Structured Finance Trust Services, BAFC 2006-5

      The Assignor's address for purposes of all notices and correspondence

related to the Mortgage Loans and the Sale and Servicing Agreement is:

            Bank of America, National Association

            214 North Tryon Street

            Charlotte, North Carolina 28255

            Attention:  Managing Director

      BAFC's address for purposes of all notices and correspondence related to

the Mortgage Loans is:

            Banc of America Funding Corporation

            214 North Tryon Street

            Charlotte, North Carolina 28255

            Attention:  General Counsel and Chief Financial Officer

      The Master Servicer's address for purposes of all notices and

correspondence related to the Mortgage Loans is:

            CitiMortgage, Inc.

            4000 Regent Blvd., 3rd Floor

            Irving, Texas 75063

            Attention: Master Servicing Division

                               [Signatures Follow]

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      IN WITNESS WHEREOF, the parties have caused this Assignment, Assumption

and Recognition Agreement to be executed by their duly authorized officers as of

the date first above written.

                                     Bank of America, National Association, as

                                     Assignor

                                     By:    /s/ Bruce W. Good

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

                                     Name:  Bruce W. Good

                                     Title: Principal

                                     U.S. Bank National Association,

                                     as Assignee

                                     By:    /s/ Melissa A. Rosal

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

                                     Name:  Melissa A. Rosal

                                     Title: Vice President

                                     Banc of America Funding Corporation

                                     By:    /s/ Scott Evans

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

                                     Name:  Scott Evans

                                     Title: Senior Vice President

                                     SunTrust Mortgage, Inc., as servicer

                                     By:    /s/ Annette Holman-Foreman

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

                                     Name:  Annette Holman-Foreman

                                     Title: Vice President

       [Assignment, Assumption and Recognition Agreement for BAFC 2006-5]

Acknowledged and Agreed as

of the date first above written:

CitiMortgage, Inc., as master servicer

By:    /s/ Tommy Harris

   -------------------------------

Name:  Tommy Harris

Title: Senior Vice President

                                        8

                                    EXHIBIT A

                           Schedule of Mortgage Loans

             [Please see Exhibit D to Exhibit 4.1 of this Form 8-K]

                                       A-1

                                    EXHIBIT B

EXHIBIT G-1 STANDARD FILE LAYOUT - DELINQUENCY REPORTING

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COLUMN/HEADER NAME                                    DESCRIPTION                     DECIMAL    FORMAT COMMENT

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SERVICER_LOAN_NBR                     A unique number assigned to a loan by the

                                      Servicer. This may be different than the

                                      LOAN_NBR

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LOAN_NBR                              A unique identifier assigned to each loan

                                      by the originator.

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CLIENT_NBR                            Servicer Client Number

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SERV_INVESTOR_NBR                     Contains a unique number as assigned by

                                      an external servicer to identify a group

                                      of loans in their system.

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BORROWER_FIRST_NAME                   First Name of the Borrower.

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BORROWER_LAST_NAME                    Last name of the borrower.

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PROP_ADDRESS                          Street Name and Number of Property

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

PROP_STATE                            The state where the  property located.

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PROP_ZIP                              Zip code where the property is located.

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BORR_NEXT_PAY_DUE_DATE                The date that the borrower's next payment                  MM/DD/YYYY

                                      is due to the servicer at the end of

                                      processing cycle, as reported by

                                      Servicer.

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LOAN_TYPE                             Loan Type (i.e. FHA, VA, Conv)

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BANKRUPTCY_FILED_DATE                 The date a particular bankruptcy claim was                 MM/DD/YYYY

                                      filed.

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BANKRUPTCY_CHAPTER_CODE               The chapter under which the bankruptcy

                                      was filed.

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BANKRUPTCY_CASE_NBR                   The case number assigned by the court to

                                      the bankruptcy filing.

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POST_PETITION_DUE_DATE                The payment due date once the bankruptcy                   MM/DD/YYYY

                                      has been approved by the courts

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BANKRUPTCY_DCHRG_DISM_DATE            The Date The Loan Is Removed From                          MM/DD/YYYY

                                      Bankruptcy. Either by Dismissal, Discharged

                                      and/or a Motion For Relief Was Granted.

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LOSS_MIT_APPR_DATE                    The Date The Loss Mitigation Was Approved                  MM/DD/YYYY

                                      By The Servicer

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LOSS_MIT_TYPE                         The Type Of Loss Mitigation Approved For A

                                      Loan Such As;

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LOSS_MIT_EST_COMP_DATE                The Date The Loss Mitigation /Plan Is                      MM/DD/YYYY

                                      Scheduled To End/Close

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LOSS_MIT_ACT_COMP_DATE                The Date The Loss Mitigation Is Actually                   MM/DD/YYYY

                                      Completed

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FRCLSR_APPROVED_DATE                  The date DA Admin sends a letter to the                    MM/DD/YYYY

                                      servicer with instructions to begin

                                      foreclosure proceedings.

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ATTORNEY_REFERRAL_DATE                Date File Was Referred To Attorney to                      MM/DD/YYYY

                                      Pursue Foreclosure

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FIRST_LEGAL_DATE                      Notice of 1st legal filed by an Attorney in                MM/DD/YYYY

                                      a Foreclosure Action

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FRCLSR_SALE_EXPECTED_DATE             The date by which a foreclosure sale is                    MM/DD/YYYY

                                      expected to occur.

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FRCLSR_SALE_DATE                      The actual date of the foreclosure sale.                   MM/DD/YYYY

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

FRCLSR_SALE_AMT                       The amount a property sold for at the              2       No commas(,) or

                                      foreclosure sale.                                          dollar signs ($)

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

EVICTION_START_DATE                   The date the servicer initiates eviction of                MM/DD/YYYY

                                      the borrower.

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EVICTION_COMPLETED_DATE               The date the court revokes legal                           MM/DD/YYYY

                                      possession of the property

                                      from the borrower.

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LIST_PRICE                            The price at which an REO property is              2       No commas(,) or

                                      marketed.                                                  dollar signs ($)

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

LIST_DATE                             The date an REO property is listed at a                    MM/DD/YYYY

                                      particular price.

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                                       B-1

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OFFER_AMT                             The dollar value of an offer for an REO            2       No commas(,) or

                                      property.                                                  dollar signs ($)

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

OFFER_DATE_TIME                       The date an offer is received by DA Admin                  MM/DD/YYYY

                                      or by the Servicer.

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REO_CLOSING_DATE                      The date the REO sale of the property is                   MM/DD/YYYY

                                      scheduled to close.

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REO_ACTUAL_CLOSING_DATE               Actual Date Of REO Sale                                    MM/DD/YYYY

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

OCCUPANT_CODE                         Classification of how the property is

                                      occupied.

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PROP_CONDITION_CODE                   A code that indicates the condition of

                                      the property.

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PROP_INSPECTION_DATE                  The date a  property inspection is                         MM/DD/YYYY

                         &