AMENDMENT TO
POOLING AND SERVICING
AGREEMENT
DATED AS OF JANUARY 1,
2002
AMONG
BEAR STEARNS ASSET BACKED SECURITIES,
INC.,
AS DEPOSITOR
EMC MORTGAGE CORPORATION,
AS SELLER AND COMPANY
WELLS FARGO BANK, N.A., as successor by
consolidation to WELLS FARGO BANK MINNESOTA, NATIONAL
ASSOCIATION,
AS MASTER SERVICER AND SECURITIES
ADMINISTRATOR
AND
JPMORGAN CHASE BANK, N.A., as successor to BANK
ONE, NATIONAL ASSOCIATION
AS TRUSTEE
BEAR STEARNS ASSET BACKED SECURITIES
TRUST 2002-AC1
ASSET-BACKED CERTIFICATES, SERIES
2002-AC1
This AMENDMENT is made and entered
into this 1st day of August, 2005 to that certain Pooling and
Servicing Agreement (the “Agreement”), dated as of
January 1, 2002, by and among BEAR STEARNS ASSET BACKED SECURITIES,
INC., as Depositor (the “Depositor”), EMC MORTGAGE
CORPORATION, as Seller (in such capacity, the “Seller”)
and Company (in such capacity, the “Company”), WELLS
FARGO BANK, N.A., as successor by consolidation to WELLS FARGO BANK
MINNESOTA, NATIONAL ASSOCIATION, as Master Servicer (in such
capacity, the “Master Servicer”) and Securities
Administrator (in such capacity, the “Securities
Administrator”) and JPMORGAN CHASE BANK, N.A., as successor
to BANK ONE, NATIONAL ASSOCIATION, as trustee (the
“Trustee”). This amendment is made pursuant to Section
12.01 of the Agreement.
SECTION 1. Defined
Terms . Unless otherwise amended by the terms of this
Amendment, terms used in this Amendment shall have the meanings
assigned in the Agreement.
SECTION 2.
Amendment to Agreement . Section 8.05(b) of the Agreement is
hereby amended effective as of the date of the related Agreement by
deleting such section in its entirety and replacing it with the
following:
(b)
The Company shall not resign from
the obligations and duties hereby imposed on it except (i) upon the
assignment of its servicing duties with respect to all or a portion
of the EMC Loans to an institution that is a Fannie Mae and Freddie
Mac approved seller/servicer in good standing that has a net worth
of not less than $10,000,000 an
