POOLING AND SERVICING AGREEMENT

ARTICLE I DEFINITIONS

Section 1.01. Definitions

ARTICLE II CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES

Section 2.01. Conveyance of Mortgage Loans

Section 2.02. Acceptance by the Trustee or Trust Administrator of the Mortgage Loans

Section 2.03. Representations, Warranties and Covenants of the Originator and the Servicer

Section 2.04. Delivery of Opinion of Counsel in Connection with Substitution; Non-Qualified Mortgages

Section 2.05. Execution and Delivery of Certificates

Section 2.06. Representations and Warranties of the Depositor

Section 2.07. Representations, Warranties and Covenants of the Servicer, the Originator and the Master Servicer

ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS

Section 3.01. Servicer to Service Mortgage Loans

Section 3.02. Subservicing Agreements between the Servicer and Subservicers

Section 3.03. Successor Subservicers

Section 3.04. Liability of the Servicer

Section 3.05. No Contractual Relationship between Subservicers and the Trustee, Master Servicer, Swap Administrator, Trust Administrator or Certificateholder

Section 3.06. Assumption or Termination of Subservicing Agreements by Master Servicer, Trustee or Trust Administrator

Section 3.07. Collection of Certain Mortgage Loan Payments

Section 3.08. Subservicing Accounts

Section 3.09. Collection of Taxes, Assessments and Similar Items; Escrow Accounts

Section 3.10. Collection Account

Section 3.11. Withdrawals from the Collection Account

Section 3.12. Investment of Funds in the Collection Account and the Distribution Account

Section 3.13. Maintenance of Hazard Insurance, Errors and Omissions and Fidelity Coverage

Section 3.14. Enforcement of Due-on-Sale Clauses; Assumption Agreements

Section 3.15. Realization upon Defaulted Mortgage Loans

Section 3.16. Release of Mortgage Files

Section 3.17. Title, Conservation and Disposition of REO Property

Section 3.18. Notification of Adjustments

Section 3.19. Access to Certain Documentation and Information Regarding the Mortgage Loans

Section 3.20. Documents, Records and Funds in Possession of the Servicer to Be Held for the Trustee

Section 3.21. Servicing Compensation

Section 3.22. Annual Statement as to Compliance

Section 3.23. Report on Assessment of Compliance and Attestation

Section 3.24. Master Servicer to Act as Servicer

Section 3.25. Compensating Interest

Section 3.26. Credit Reporting; Gramm-Leach-Bliley Act

Section 3.27. Net WAC Rate Carryover Reserve Account; Distribution Account; Swap Account

Section 3.28. Optional Purchase of Delinquent Mortgage Loans

Section 3.29. REMIC-Related Covenants

Section 3A.01 Master Servicer

Section 3A.02 REMIC-Related Covenants

Section 3A.03 Monitoring of Servicer

Section 3A.04 Fidelity Bond

Section 3A.05 Power to Act; Procedures

Section 3A.06 Due-on-Sale Clauses; Assumption Agreements

Section 3A.07 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee

Section 3A.08 [RESERVED]

Section 3A.09 Compensation for the Master Servicer

Section 3A.10 [RESERVED]

Section 3A.11 [RESERVED]

Section 3A.12 Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls

ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE SERVICER

Section 4.01. Advances

Section 4.02. Priorities of Distribution

Section 4.03. Monthly Statements to Certificateholders

Section 4.04. Certain Matters Relating to the Determination of LIBOR

Section 4.05. Allocation of Realized Loss Amounts

Section 4.06. Compliance with Withholding Requirements

Section 4.07. Commission Reporting

Section 4.08. REMIC Distributions and Allocation of Losses

ARTICLE V THE CERTIFICATES

Section 5.01. The Certificates

Section 5.02. Certificate Register; Registration of Transfer and Exchange of Certificates

Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates

Section 5.04. Persons Deemed Owners

Section 5.05. Access to List of Certificateholders’ Names and Addresses

Section 5.06. Maintenance of Office or Agency

ARTICLE VI THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SWAP ADMINISTRATOR AND THE SERVICER

Section 6.01. Respective Liabilities of the Depositor, the Originator, the Master Servicer, the Swap Administrator and the Servicer

Section 6.02. Merger or Consolidation of the Depositor, the Originator, the Master Servicer, the Swap Administrator or the Servicer

Section 6.03. Limitation on Liability of the Depositor, the Originator, the Master Servicer, the Swap Administrator, the Trust Administrator, the Servicer and Others

Section 6.04. Limitation on Resignation of the Servicer

Section 6.05. Additional Indemnification by the Servicer; Third Party Claims

Section 6.06. Rights of the Depositor, the Master Servicer, the Swap Administrator, the Trust Administrator and the Trustee in Respect of the Servicer

Section 6.07. Limitation on Resignation of the Master Servicer

Section 6.08. Assignment of Master Servicing

ARTICLE VII DEFAULT

Section 7.01. Events of Default

Section 7.02. Master Servicer to Act; Appointment of Successor

Section 7.03. Notification to Certificateholders

ARTICLE VIII CONCERNING THE TRUSTEE AND THE TRUST ADMINISTRATOR

Section 8.01. Duties of the Trustee

Section 8.02. Certain Matters Affecting the Trustee and the Trust Administrator

Section 8.03. Neither the Trustee Nor the Trust Administrator Liable for Certificates or Mortgage Loans

Section 8.04. Trustee and Trust Administrator May Own Certificates

Section 8.05. Fees and Expenses of the Trustee and Trust Administrator

Section 8.06. Eligibility Requirements for the Trustee and Trust Administrator

Section 8.07. Resignation and Removal of the Trustee or Trust Administrator

Section 8.08. Successor Trustee or Trust Administrator

Section 8.09. Merger or Consolidation of the Trustee or the Trust Administrator

Section 8.10. Appointment of Co-Trustee or Separate Trustee

Section 8.11. Representations and Warranties of the Trustee, Trust Administrator and Swap Administrator

ARTICLE IX TERMINATION

Section 9.01. Termination upon Liquidation or Purchase of the Mortgage Loans

Section 9.02. Final Distribution on the Certificates

Section 9.03. Additional Termination Requirements

ARTICLE X MISCELLANEOUS PROVISIONS

Section 10.01. Amendment

Section 10.02. Recordation of Agreement; Counterparts

Section 10.03. Governing Law

Section 10.04. Intention of Parties

Section 10.05. Notices

Section 10.06. Severability of Provisions

Section 10.07. Assignment; Sales; Advance Facilities

Section 10.08. Limitation on Rights of Certificateholders

Section 10.09. Inspection and Audit Rights

Section 10.10. Certificates Nonassessable and Fully Paid

Section 10.11. Waiver of Jury Trial

Section 10.12. Benefit of Agreement

ARTICLE XI REMIC PROVISIONS

Section 11.01. REMIC Administration

Section 11.02. Prohibited Transactions and Activities

Section 11.03. Indemnification

Schedule I

Schedule II

Schedule III

Schedule IV

Exhibit A

Exhibit B

Exhibit C

Exhibit D

Exhibit E

Exhibit F

Exhibit G

Exhibit H

Exhibit I

Exhibit J

Exhibit K

Exhibit L

Exhibit M

Exhibit N

Exhibit O

Exhibit P

Exhibit Q

Exhibit R

Exhibit S

Exhibit T

I

I-1-A

I-1-B

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II

II-1-A

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II-3-A

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II-14-A

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II-15-A

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II-16-A

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