AMENDMENT NUMBER ONE
to the
POOLING AND SERVICING
AGREEMENT
LUMINENT MORTGAGE TRUST
2006-3,
Dated as of April 1, 2006
among
STRUCTURED ASSET MORTGAGE
INVESTMENTS II INC.,
as Depositor
LUMINENT MORTGAGE CAPITAL,
INC.,
as Sponsor
WELLS FARGO BANK, NATIONAL
ASSOCIATION,
as Master Servicer and Securities
Administrator
and
HSBC BANK USA, NATIONAL
ASSOCIATION,
as Trustee
This AMENDMENT NUMBER ONE is made and entered
into this 12 th day of January, 2007, by and among
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., a Delaware limited
liability company, as depositor (the “Depositor”),
LUMINENT MORTGAGE CAPITAL, INC., a Maryland corporation and real
estate investment trust (the “Sponsor”), WELLS FARGO
BANK, NATIONAL ASSOCIATION, a national banking association, as
master servicer (in such capacity, the “Master
Servicer”) and as securities administrator (in such capacity,
the “Securities Administrator”) and HSBC BANK USA,
NATIONAL ASSOCIATION, a national banking association, as trustee
(the “Trustee”), in connection with the Pooling and
Servicing Agreement, dated as of April 1, 2006, among the
above-mentioned parties (the “Agreement”), and the
issuance of Mortgage-Pass Through Certificates, Series 2006-3. This
amendment is made pursuant to Section 11.01 of the
Agreement.
1. Capitalized terms used herein and not defined
herein shall have the meanings assigned to such terms in the
Agreement.
2. Section 1.01 of the Agreement is hereby amended
by deleting the definition of “Delinquent” in its
entirety and replacing it with the following:
Delinquent : A Mortgage Loan
