ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENTAssumption Agreement |
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Exhibit 99.16(a)
EXECUTION COPY
ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
THIS ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT (this
"Assignment"), dated as of April 1, 2006, is entered into among
Morgan Stanley
Capital I Inc., a Delaware corporation (the "Depositor"), Morgan
Stanley
Mortgage Capital Inc. ("MSMCI"), Wachovia Mortgage Corporation as
seller
("Wachovia" and, in such capacity, the "Seller") and servicer (in
such
capacity, the "Servicer"), and acknowledged by LaSalle Bank
National
Association, as trustee (the "Trustee") of Morgan Stanley Mortgage
Loan Trust
2006-6AR (the "Trust"), and Wells Fargo Bank, National Association,
as master
servicer (or any successor master servicer, the "Master
Servicer").
RECITALS
WHEREAS MSMCI, the Seller and the Servicer have entered into a
certain Seller's Purchase, Warranties and Servicing Agreement,
dated as of
September 1, 2004 (the "Initial Agreement"), as supplemented by the
Regulation
AB Compliance Addendum (the "Reg AB Addendum"), dated as of
November 22, 2005,
(as further amended or modified to the date hereof, the
"Agreement"), pursuant
to which MSMCI has acquired certain Mortgage Loans pursuant to the
terms of
the Agreement and the Servicer has agreed to service such Mortgage
Loans;
WHEREAS the Depositor has agreed, on the terms and conditions
contained herein, to purchase from MSMCI certain of the Mortgage
Loans (the
"Specified Mortgage Loans") which are subject to the provisions of
the
Agreement and are listed on the mortgage loan schedule attached as
Exhibit I
hereto (the "Specified Mortgage Loan Schedule"); and
WHEREAS the Trustee, on behalf of the Trust, has agreed, on the
terms
and conditions contained herein, to purchase from the Depositor the
Specified
Mortgage Loans;
NOW, THEREFORE, in consideration of the mutual promises
contained
herein and other good and valuable consideration (the receipt and
sufficiency
of which are hereby acknowledged), the parties agree as
follows:
1. Assignment and Assumption
(a) On and as of the date hereof, MSMCI hereby sells, assigns
and
transfers to the Depositor all of its right, title and interest in
the
Specified Mortgage Loans and all rights and obligations related
thereto as
provided under the Agreement to the extent relating to the
Specified Mortgage
Loans, the Depositor hereby accepts such assignment from MSMCI (the
"First
Assignment and Assumption"), and the Seller hereby acknowledges the
First
Assignment and Assumption.
MSMCI specifically reserves and does not assign to the
Depositor hereunder any and all right, title and interest in, to
and under and
all obligations of MSMCI with respect to any Mortgage Loans subject
to the
Agreement which are not the Specified Mortgage Loans.
(b) On and as of the date hereof, immediately after giving effect
to
the First Assignment and Assumption, the Depositor hereby sells,
assigns and
transfers to the Trustee, on behalf of the Trust, all of its right,
title and
interest in the Specified Mortgage Loans and all rights and
obligations
related thereto as provided under the Agreement to the extent
relating to the
Specified Mortgage Loans, and the Trustee, on behalf of the Trust,
hereby
accepts such assignment from the Depositor (the "Second Assignment
and
Assumption"), and the Seller hereby acknowledges the Second
Assignment and
Assumption.
<PAGE>
(c) On and as of the date hereof, MSMCI represents and warrants
to
the Depositor and the Trustee that MSMCI has not taken any action
that would
serve to impair or encumber the respective ownership interests of
the
Depositor and the Trustee in the Specified Mortgage Loans since the
date of
MSMCI's acquisition of the Specified Mortgage Loans.
2. Recognition of Trustee
(a) From and after the date hereof, both MSMCI and the Seller
shall
note the transfer of the Specified Mortgage Loans to the Trustee,
in their
respective books and records and shall recognize the Trustee, on
behalf of the
Trust, as of the date hereof, as the owner of the Specified
Mortgage Loans,
and Servicer shall service the Specified Mortgage Loans for the
benefit of the
Trust pursuant to the Agreement, as modified hereby, the terms of
which are
incorporated herein by reference. It is the intention of the
Seller, the
Servicer, the Depositor, the Trustee and MSMCI that this Assignment
shall be
binding upon and inure to the benefit of the Depositor, the Trustee
and MSMCI
and their respective successors and assigns.
(b) Without in any way limiting the foregoing, the parties
confirm
that this Assignment includes the rights relating to amendments or
waivers
under the Agreement. Accordingly, the right of MSMCI to consent to
any
amendment of the Agreement and its rights concerning waivers as set
forth in
Sections 11.02 and 8.02 of the Agreement shall be exercisable, to
the extent
any such amendment or waiver affects the Specified Mortgage Loans
or any of
the rights under the Agreement with respect thereto (other than the
servicing
of the Specified Mortgage Loans, which shall be enforced by the
Master
Servicer) by the Trustee as assignee of MSMCI.
(c) It is expressly understood and agreed by the parties hereto
that
(i) this Assignment is executed and delivered by LaSalle Bank
National
Association, not individually or personally but solely on behalf of
the Trust,
as the assignee, in the exercise of the powers and authority
conferred and
vested in it, as Trustee, pursuant to the Pooling and Servicing
Agreement
dated as of the date hereof among the Depositor, the Master
Servicer, Wells
Fargo Bank, National Association, as securities administrator (the
"Securities
Administrator") and the Trustee (the "Pooling and Servicing
Agreement"), (ii)
each of the representations, undertakings and agreements herein
made on the
part of assignee is made and intended not as personal
representations,
undertakings and agreements by LaSalle Bank National Association
but is made
and intended for the purpose of binding only the Trust , (iii)
nothing herein
contained shall be construed as creating any liability for LaSalle
Bank
National Association, individually or personally, to perform any
covenant
(either express or implied) contained herein and (iv) under no
circumstances
shall LaSalle Bank National Association be personally liable for
the payment
of any indebtedness or expenses of the Trust, or be liable for the
breach or
failure of any obligation, representation, warranty or covenant
made or
undertaken by the Trust under this Assignment and (v) all recourse
for any
payment liability or other obligation of the assignee shall be had
solely to
the assets of the Trust.
3. Representations and Warranties
(a) The Depositor represents and warrants that it is a
sophisticated
investor able to evaluate the risks and merits of the
transactions
contemplated hereby, and that it has not relied in connection
therewith upon
any statements or representations of the Seller or MSMCI other than
those
contained in the Agreement or this Assignment.
(b) Each of the parties hereto represents and warrants that it
is
duly and legally authorized to enter into this Assignment.
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<PAGE>
(c) Each of the Depositor, MSMCI, Seller and Servicer hereto
represents and warrants that this Assignment has been duly
authorized,
executed and delivered by it and (assuming due authorization,
execution and
delivery thereof by each of the other parties hereto) constitutes
its legal,
valid and binding obligation, enforceable against it in accordance
with its
terms, except as such enforcement may be limited by bankruptcy,
insolvency,
reorganization or other similar laws affecting the enforcement of
creditors'
rights generally and by general equitable principles (regardless of
whether
such enforcement is considered in a proceeding in equity or at
law).
(d) The Seller hereby makes, as of the Closing Date (as defined
in
the Pooling and Servicing Agreement referred to below), the
representations
and warranties set forth in Section 3.01 of the Agreement, to and
for the
benefit of the Depositor, the Trustee and the Trust, and by this
reference
incorporates such representations and warranties herein, as of such
Closing
Date.
4. The Servicer hereby acknowledges that Wells Fargo Bank,
National
Association has been appointed as the Master Servicer of the
Specified
Mortgage Loans pursuant to the Pooling and Servicing Agreement and,
therefore,
has the right to enforce all obligations of the Servicer under the
Agreement.
Such rights will include, without limitation, the right to
terminate the
Servicer under the Agreement upon the occurrence of an event of
default
thereunder, the right to receive all remittances required to be
made by the
Servicer under the Agreement, the right to receive all monthly
reports and
other data required to be delivered by the Servicer under the
Agreement, the
right to examine the books and records of the Servicer,
indemnification rights
and the right to exercise certain rights of consent and approval of
MSMCI. The
Servicer shall make all distributions under the Agreement to the
Master
Servicer by wire transfer of immediately available funds to:
Wells Fargo Bank, National Association
ABA Number: 121-000-248
Account Name: Corporate Trust Clearing
Account number: 3970771416
For further credit to: 50913800, MSM 2006-6AR
The Servicer shall deliver all reports required to be delivered
under
the Agreement to the Master Servicer at the following address:
Wells Fargo Bank, National Association
9062 Old Annapolis Road
Columbia, Maryland 21045
Attention: Client Manager, MSM 2006-6AR
Telecopier: (410) 715-2380
5. Amendments to the Initial Agreement
The parties to this Assignment hereby agree to amend the
Initial
Agreement as follows:
(a) With respect to the Specified Mortgage Loans, "Permitted
Investments" shall mean at any time, any one or more of the
following obligations and securities:
(i) obligations of the United States or any agency
thereof, provided that 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
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<PAGE>
each Rating Agency, or such lower rating as shall not
result in the downgrading or withdrawal of the ratings
then assigned to the Certificates by the Rating Agencies,
as evidenced by a signed writing delivered 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 rating such paper, or such
lower rating as shall not result in the downgrading or
withdrawal of the ratings then assigned to the
Certificates by the Rating Agencies, as evidenced by a
signed writing delivered 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, provided that the commercial paper and/or
long-term unsecured debt obligations of such depository
institution or trust company (or in the case of the
principal depository institution in a holding company
system, the commercial paper or long-term unsecured debt
obligations of such holding company, but only if Moody's
is not the applicable Rating Agency) are then rated one of
the two highest long-term and the highest short-term
ratings of each Rating Agency for such securities, or such
lower ratings as shall not result in the downgrading or
withdrawal of the ratings then assigned to the
Certificates by the Rating Agencies, as evidenced by a
signed writing delivered by each 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 acceptable to
the Rating Agencies at the time of the issuance of such
agreements, as evidenced by a signed writing delivered by
each 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 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 series),
or such lower rating as shall not result in the
downgrading or withdrawal of the ratings then assigned to
the Certificates by the Rating Agencies, as evidenced by a
signed writing delivered by each Rating Agency;
(ix) interests in any money market fund 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 rating by each Rating Agency
rating such fund or such
4
<PAGE>
lower rating as shall not result in a change in the rating
then assigned to the Certificates by each Rating Agency,
as evidenced by a signed writing delivered by each Rating
Agency, including funds for which the Trustee, the Master
Servicer, the Securities Administrator or any of its
Affiliates is investment manager or adviser;
(x) short-term investment funds sponsored by any trust
company or national banking association incorporated under
the laws of the United States or any state thereof which
on the date of acquisition has been rated by each
applicable Rating Agency in their respective highest
applicable rating category or such lower rating as shall
not result in a change in the rating then specified stated
maturity and bearing interest or sold at a discount
acceptable to each Rating Agency as shall not result in
the downgrading or withdrawal of the ratings then assigned
to the Certificates by the Rating Agencies, as evidenced
by a signed writing delivered by each Rating Agency; and
(xi) such other investments having a specified stated
maturity and bearing interest or sold at a discount
acceptable to the Rating Agencies as shall not result in
the downgrading or withdrawal of the ratings then assigned
to the Certificates by the Rating Agencies, as evidenced
by a signed writing delivered by each Rating Agency;
provided, that no such instrument shall be a Permitted
Investment if (i) such instrument evidences the right to
receive interest only payments with respect to the
obligations underlying such instrument or (ii) such
instrument would require the Depositor to register as an
investment company under the Investment Company Act of
1940, as amended.
(b) The definition of "Remittance Date" in Section 1.01 of the
Initial Agreement is hereby amended and restated in its
entirety as follows:
"Remittance Date: The 18th day of each month (or, if such 18th day
is
not a Business Day, the following Business Day)."
(c) The definition of "Servicing Fee" in Section 1.01 of the
Initial Agreement is hereby amended and restated in its
entirety as follows:
"The Servicing Fee with respect to each Mortgage Loan for any
calendar month (or a portion thereof) shall be 1/12 of the product
of (i) the
Scheduled Principal Balance of the Mortgage Loan and (ii) the
Servicing Fee
Rate applicable to such Mortgage Loan. Such fee shall be payable
monthly,
computed on the basis of the same principal amount and period
respecting which
any related interest payment on a Mortgage Loan is computed."
(d) The definition of "Servicing Fee Rate" in Section 1.01 of
the Initial Agreement is hereby amended and restated in its
entirety as follows:
"Servicing Fee Rate": With respect to the adjustable rate
Mortgage
Loans, 0.250% per annum."
(e) Subsection 3.02(d) of the Initial Agreement is hereby
amended and restated in its entirety as follows:
"As of the Closing Date, none of the Mortgage Loans are
contractually
past due by more than 30 days;"
5
<PAGE>
(f) The following paragraphs are hereby incorporated into the
Initial Agreement at the end of Section 4.13:
"The Seller shall prepare for and deliver to the Purchaser, or
its
designee, a statement with respect to each REO Property that has
been rented
showing the aggregate rental income received and all expenses
incurred in
connection with the maintenance of such REO Property at such times
as is
necessary to enable the Purchaser, or its designee, 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
Certificate Account
no later than the close of business on each Determination Date. The
Seller
shall perform the tax reporting and withholding required by
Sections 1445 and
6050J of the Code with respect to foreclosures and abandonments,
the tax
reporting required by Section 6050H of the Code with respect to the
receipt of
mortgage interest from individuals and any tax reporting required
by Section
6050P of the Code with respect to the cancellation of indebtedness
by certain
financial entities, by preparing such tax and information returns
as may be
required, in the form required, and delivering the same to the
Purchaser, or
its designee, for filing.
Notwithstanding any other provision of this Agreement, no
Mortgaged
Property acquired by the Purchaser, or its designee, shall be
rented (or
allowed to continue to be rented) or otherwise used for the
production of
income by or on behalf of the Purchaser, or its designee, 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 REMIC 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 Seller has
agreed to
indemnify and hold harmless the Purchaser, or its designee, with
respect to
the imposition of any such taxes."
(g) The second paragraph of Section 5.01 of the Initial
Agreement is hereby amended and restated in its entirety as
follows:
"With respect to any remittance received by the Purchaser after
the
Business Day on which such payment was due, the Seller shall pay to
the
Purchaser interest on any such late payment at an annual rate equal
to the
Prime Rate, adjusted as of the date of each change, plus two
percentage
points, but in no event greater than the maximum amount permitted
by
applicable law. Such interest shall be deposited in the Custodial
Account by
the Seller on the date such late payment is made and shall cover
the period
commencing with such Business Day on which such payment was due and
ending
with the Business Day on which such payment is made, both
inclusive. Such
interest shall be remitted along with the distribution payable on
the next
succeeding Remittance Date. The payment by the Seller of any such
interest
shall not be deemed an extension of time for payment or a waiver of
any Event
of Default by the Seller."
(h) The first paragraph of Section 5.02 of the Initial
Agreement is hereby amended and restated in its entirety as
follows:
"Not later than the 5th Business Day of each month (or if such
5th
day is not a Business Day, the Business Day next succeeding such
5th day), the
Seller shall furnish to the Master Servicer in electronic form
mortgage loan
level data as mutually agreed upon by the Seller and the Master
Servicer and
the monthly reports substantially in the form of Exhibit J attached
hereto
with respect to the Mortgage Loans and the period from but
including the first
day of the preceding calendar month through but excluding the first
day of
such month."
(i) The first paragraph of Section 5.03 of the Initial
Agreement is hereby amended and restated in its entirety as
follows:
"Not later than the close of business on the Business Day
preceding
each Remittance Date, the Seller shall either (a) deposit in the
Custodial
Account from its own funds an amount equal to the
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<PAGE>
principal and interest portion of all Monthly Payments (with
interest adjusted
to the Mortgage Loan Remittance Rate) which were due on the
Mortgage Loans
during the applicable Due Period and which were delinquent at the
close of
business on the immediately preceding Determination Date or which
were
deferred pursuant to Section 4.01, (b) cause to be made an
appropriate entry
in the records of the Custodial Account that amounts held for
future
distribution have been, as permitted by this Section 5.03, used by
the Seller
in discharge of any such Monthly Advance or (c) make Monthly
Advances in the
form of any combination of (a) or (b) aggregating the total amount
of Monthly
Advances to be made, whether or not deferred pursuant to Section
4.01, which
were due on a Mortgage Loan on the immediately preceding Due Date
and
delinquent at the close of business on the related Determination
Date."
(j) The word "or" is deleted from the end of Section 8.01(vii),
the word "or" is added at the end of Section 8.01(viii) and the
following paragraph is hereby incorporated into the Agreement
as new Section 10.01(ix):
"(ix) failure by the Seller to duly perform, within the required
time
period, its obligations under Section 2.04 and Section 2.05 of the
Reg AB
Addendum which failure continues unremedied for a period of
fourteen (14) days
after the date on which written notice of such failure, requiring
the same to
be remedied, shall have been given to the Seller by any party to
this
Agreement or by any master servicer responsible for master
servicing the
Mortgage Loans pursuant to a securitization of such Mortgage
Loans;"
(k) The following paragraph is hereby incorporated into the
Initial Agreement as new Section 11.19:
"Third Party Beneficiary. For purposes of this Agreement,
including
but not limited to Section 2.04 and Section 2.05, respectively, of
the Reg AB
Addendum, any Master Servicer shall be considered a third party
beneficiary to
this Agreement (including the Reg AB Addendum and any other
amendments or
modifications thereto) entitled to all the rights and benefits
accruing to any
Master Servicer herein as if it were a direct party to this
Agreement."
(l) Section 6.04 and Section 6.05 are hereby deleted from the
Initial Agreement, it being understood that they are superseded
by Section 2.04 and Section 2.05, respectively, of the Reg AB
Addendum.
(m) The second sentence in Section 8.01 of the Initial
Agreement is hereby replaced by the following:
"On or after the receipt by the Seller of such written notice
of
termination, all authority and power of the Seller, as servicer,
under this
Agreement, whether with respect to the Mortgage Loans or otherwise,
shall pass
to and be vested in the successor appointed pursuant to Section
11.01."
(n) Exhibit J to the Initial Agreement is hereby replaced in
its entirety with the Amended and Restated Exhibit J attached
to this Assignment as Exhibit II.
6. Amendments to the Reg AB Addendum
(a) The following is added as new defined terms in Article I of
the
Reg AB Addendum:
Indemnified Party: each Party described in the first sentence of
Section
2.07(a) hereof.
(b) The words "for a period" are hereby deleted from and the
reference to "Securitization Transfer" is revised to read
"Securitization Transaction" in each case in the second
paragraph of Section 2.01(a) of the Reg AB Addendum.
7
<PAGE>
(c) Section 2.03(d) of the Reg AB Addendum is hereby amended
and
restated in its entirety as follows:
"For the purpose of satisfying its reporting obligation under the
Exchange
Act with respect to any class of asset-backed securities, the
Company shall
(or shall cause each Subservicer and Third-Party Originator to) (i)
promptly
notify the Purchaser, any Master Servicer and any Depositor in
writing of (A)
any litigation or governmental proceedings pending against the
Company, any
Subservicer or any Third-Party Originator that would be material
to
securityholders, (B) any affiliations or relationships that develop
following
the closing date of a Securitization Transaction between the
Company, any
Subservicer or any Third-Party Originator and any of the parties
specified in
clause (D) of paragraph (a) of this Section (and any other parties
identified
in writing by the requesting party) with respect to such
Securitization
Transaction, but only to the extent that such affiliations or
relationships do
not include the Purchaser, Depositor or any of their respective
affiliates as
a party, (C) any Event of Default under the terms of the Agreement
or any
Reconstitution Agreement, and (D) any merger, consolidation or sale
of
substantially all of the assets of the Company and (E) the
Company's entry
into an agreement with a Subservicer to perform or assist the
Company with the
performance of any of the Company's obligations under the Agreement
or any
Reconstitution Agreement, and (ii) provide to the Purchaser and any
Depositor
a description of such proceedings, affiliations or
relationships."
(d) Section 2.03(f) of the Reg AB Addendum is hereby amended
and
restated in its entirety as follows:
"In addition to such information as the Company, as servicer, is
obligated
to provide pursuant to other provisions of the Agreement, not later
than ten
(10) days prior to the deadline for the filing of any distribution
report on
Form 10-D in respect of any Securitization Transaction that
includes any of
the Mortgage Loans serviced by the Company or any Subservicer, the
Company or
such Subservicer, as applicable, shall, to the extent the Company
or such
Subservicer has knowledge, provide to the party responsible for
filing such
report (including, if applicable, the Master Servicer) notice of
the
occurrence of any of the following events along with all
information, data,
and materials related thereto as may be required to be included in
the related
distribution report on Form 10-D (as specified in the provisions of
Regulation
AB referenced below):
(i) 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);
(ii) material breaches of pool asset representations or
warranties or transaction covenants (Item 1121(a)(12) of
Regulation
AB); and
(iii) information regarding 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).
(e) The following is inserted as Section 2.03(g) of the Reg AB
Addendum:
"The Company shall provide to the Purchaser, any Master Servicer
and
any Depositor, evidence of the authorization of the person signing
any
certification or statement, copies or other evidence of Fidelity
Bond
Insurance and Errors and Omission Insurance policy, financial
information and
reports, and such other information related to the Company or any
Subservicer
or the Company or such Subservicer's performance hereunder as may
be
reasonably requested by the Purchaser, any Master Servicer or any
Depositor."
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<PAGE>
(f) Section 2.04 and Section 2.05 of the Reg AB Addendum are
each
revised to require that the delivery of the documents,
certifications and reports thereunder shall occur on or before
March 15 of each calendar year, commencing in March 2007.
(g) Section 2.05(a)(iv) of the Reg AB Addendum is hereby
amended
and restated in its entirety as follows:
"deliver, and cause each Subservicer and Subcontractor described in
clause
(iii) above to deliver, to the Purchaser, the Master Servicer, any
Depositor
and any other Person that will be responsible for signing the
certification (a
"Sarbanes Certification") required by Rules 13a-14(d) and 15d-14(d)
under the
Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act of
2002) on
behalf of an asset-backed issuer with respect to a Securitization
Transaction
a certification, signed by an appropriate officer of the Company,
in the form
attached hereto as Exhibit A. In addition to providing the
Sarbanes
Certification, the Servicer shall also cooperate with the Depositor
and
provide such additional information as the Depositor may reasonably
request
with respect thereto."
(h) The second sentence of Section 2.06(a) is amended to
require
the Company to cause any Subservicer or Subcontractor to comply
with all of the following Sections of the Reg AB Addendum:
Section 2.02, Section 2.03(c), (e), (f) and (g), Section 2.04,
Section 2.05, Section 2.06(a) and Section 2.07.
(i) The last sentence of the second paragraph of Section 2.06(b)
is
amended to require the Company to cause any Subservicer or
Subcontractor to provide any assessment of compliance and
attestation but also any other certifications required to
delivered under this Section 2.05.
(j) Section 2.07(a)(ii) of the Reg AB Addendum is hereby
amended
and restated in its entirety as follows:
"(ii) any breach by the Company under this Article II,
including
particularly any failure by the Company, any Subservicer, any
Subcontractor or any Third-Party Originator to deliver any
information, report, certification, accountants' letter or
other
material when and as required, under this Article II, including
any
failure by the Company to identify pursuant to Section 2.06(b)
any
Subcontractor "participating in the servicing function" within
the
meaning of Item 1122 of Regulation AB;"
(k) The word "or" is added at the end of Section 2.07(a)(iii)
of
the Reg AB Addendum and the following is inserted to Section
2.07(a) of the Reg AB Addendum:
"(iv) negligence, bad faith or willful misconduct of the
Company
in connection with its performance under this Article II.
If the indemnification provided for herein is unavailable or
insufficient to
hold harmless an Indemnified Party, then the Company agrees that it
shall
contribute to the amount paid or payable by such Indemnified Party
as a result
of any claims, losses, damages or liabilities incurred by such
Indemnified
Party in such proportion as is appropriate to reflect the relative
fault of
such Indemnified Party on the one hand and the Company on the
other.
This indemnification shall survive the termination of this
Agreement or the
termination of any party to this Agreement."
(l) The following parenthetical is inserted directly before the
proviso in the last sentence of the first paragraph of Section
2.07(b)(i) of the Reg AB Addendum:
9
<PAGE>
"(and if the Company is servicing any of the Mortgage Loans in
a
Securitization Transaction, appoint a successor servicer reasonably
acceptable
to the Master Servicer for such Securitization Transaction)"
(m) Exhibit B to the Reg AB Addendum is hereby replaced by
Exhibit
A-1 hereto.
(n) Written notice provided in compliance with Sections
2.03(d),
(e) or (g) of the Reg AB Addendum shall be substantially in the
form of Exhibit B-1 to this Agreement.
7. Continuing Effect
Except as contemplated hereby, the Agreement shall remain in
full
force and effect in accordance with its terms.
8. Governing Law
This Assignment and the rights and obligations hereunder shall
be
governed by and construed in accordance with the internal laws of
the State of
New York.
9. Notices
Any notices or other communications permitted or required under
the
Agreement to be made to the Depositor, MSMCI, the Seller, the
Servicer and the
Trustee shall be made in accordance with the terms of the Agreement
and shall
be sent as follows:
In the case of MSMCI:
Morgan Stanley Mortgage Capital Inc.
1221 Avenue of the Americas
New York, New York 10020
Attention: Morgan Stanley Mortgage Loan Trust 2006-6AR
With a copy to:
Morgan Stanley & Co. Incorporated
1585 Broadway
New York, New York 10036
Attention: General Counsel's Office
In the case of the Depositor:
Morgan Stanley Capital I Inc.
1585 Broadway
New York, New York 10036
Attention: Morgan Stanley Mortgage Loan Trust 2006-6AR
10
<PAGE>
In the case of the Trustee:
LaSalle Bank National Association
135 South LaSalle Street, Suite 1625
Chicago, Illinois 60603
Attention: Global Securities and Trust Services MSM 2006-6AR
In the case of Wachovia and the Servicer:
Wachovia Mortgage Corporation
901 South Tryon Street
Charlotte, North Carolina 28202
Attention: Kendal Leeson
With a copy to:
Wachovia Mortgage Corporation
1100 Corporate Center Drive
Raleigh, North Carolina 27607
Attention: Tom Fowler
or to such other address as may hereafter be furnished by the
Depositor and
the Trustee to the parties in accordance with the provisions of the
Agreement.
10. Ratification
Except as modified and expressly amended by this Assignment,
the
Agreement is in all respects ratified and confirmed, and all terms,
provisions
and conditions thereof shall be and remain in full force and
effect.
11. Counterparts
This Assignment may be executed in counterparts, each of which
when
so executed shall be deemed to be an original and all of which when
taken
together shall constitute one and the same instrument.
12. Definitions
Any capitalized term used but not defined in this Assignment has
the
same meaning as in the Agreement.
[SIGNATURE PAGE FOLLOWS]
11
<PAGE>
IN WITNESS WHEREOF, the parties hereto have executed this
Assignment
the day and year first above written.
MORGAN STANLEY MORTGAGE CAPITAL INC.
By: /s/ Valerie Kay
------------------------------------
Name: Valerie Kay
Title: Vice President
MORGAN STANLEY CAPITAL I INC.
By: /s/ Valerie Kay
------------------------------------
Name: Valerie Kay
Title: Vice President
WACHOVIA MORTGAGE CORPORATION
By: /s/ Kendal Leeson
------------------------------------
Name: Kendal Leeson
Title: Vice President
Acknowledged and Agreed:
WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Master Servicer
By: /s/ Patricia Russo
----------------------------------
Name: Patricia Russo
Title: Vice President
LASALLE BANK, NATIONAL
ASSOCIATION, as Trustee of Morgan Stanley
Mortgage Loan Trust 2006-6AR
By: /s/ Christopher Lewis
----------------------------------
Name: Christopher Lewis
Title: Assistant Vice President
<PAGE>
EXHIBIT I
Mortgage Loan Schedule
[see Schedule A to Pooling and Servicing Agreement]
<PAGE>
Exhibit IIA: Standard File Layout - Delinquency Reporting
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
Column/Header Name Description Decimal Format Comment
---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
SERVICER_LOAN_NBR A unique number assigned to a loan by the
Servicer. This
may be different than the LOAN_NBR
---------------------------------------------------------------------------------------------------------------------------
LOAN_NBR A unique identifier assigned to each loan by the
originator.
---------------------------------------------------------------------------------------------------------------------------
CLIENT_NBR Servicer Client Number
---------------------------------------------------------------------------------------------------------------------------
SERV_INVESTOR_NBR Contains a unique number as assigned by an
external
servicer to identify a group of loans in their system.
---------------------------------------------------------------------------------------------------------------------------
BORROWER_FIRST_NAME First Name of the Borrower.
-------------------------------------------------------






