Common use of CONCERNING THE TRUSTEE Clause in Contracts

CONCERNING THE TRUSTEE. 96 Section 8.01. Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 00.00.Xx Petition.........................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 00.00.Xxxxxx on Assessment of Compliance and Attestation..................124 Section 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 94 Section 8.01. Duties of Trustee....................................................96 ......................................94 Section 8.02. Certain Matters Affecting the Trustee................................97 ..................95 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ..................................................97 Section 8.04. Trustee May Own Certificates.........................................99 ...........................97 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..............................97 Section 8.06. Eligibility Requirements for Trustee................................100 ...................98 Section 8.07. Resignation and Removal of the Trustee..............................101 .................99 Section 8.08. Successor Trustee...................................................102 .....................................100 Section 8.09. Merger or Consolidation of Trustee..................................102 ....................100 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .........100 Section 8.11. Appointment of Custodians...........................................103 .............................101 Section 8.12. Appointment of Office or Agency.....................................104 .......................102 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ........102 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans.................................................102 Section 9.02. Additional Termination Requirements.................................108 ...................106 Section 9.03. Termination of Multiple REMICs......................................109 ........................106 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114............................................107

CONCERNING THE TRUSTEE. 96 Section 8.0166 SECTION 7.01. Duties of Trustee....................................................96 Section 8.02................................ 66 SECTION 7.02. Between Trustee and Sub- Administrative Agents............................ 70 SECTION 7.03. Certain Matters Affecting the Trustee................................97 Section 8.03.......................................... 71 SECTION 7.04. Trustee Not Liable for Recitals in Certificates or Mortgage Loans................99 Section 8.04Underlying Securities....................................... 73 SECTION 7.05. Trustee May Own Certificates.........................................99 Section 8.05..................... 73 SECTION 7.06. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06...................... 73 SECTION 7.07. Eligibility Requirements for Trustee................................100 Section 8.07............. 74 SECTION 7.08. Resignation and or Removal of the Trustee..............................101 Section 8.08. ; Appointment of Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12.......................................... 75 SECTION 7.09. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01.................. 77 SECTION 7.10. Optional Purchase Representations and Warranties of Trustee.......................................... 77 SECTION 7.11. Indemnification of Trustee by the Master Servicer Depositor; Contribution.......................... 78 SECTION 7.12. Indemnification of All Certificates; Termination Upon Purchase Depositor by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Trustee.......................................... 80 SECTION 7.13. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 No Liability of the Series Supplement 114 Section 10.04.Distributions on Trustee with Respect to the Uncertificated REMIC I Underlying Securities; Certificateholders to Proceed Directly Against the Issuer(s)................... 80 SECTION 7.14. The Depositor To Furnish Trustee with Names and REMIC II Regular Interests. As provided in Section 10.04 Addresses of the Series Supplement..............114Certificateholders............................... 81 SECTION 7.15.

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................105 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................106 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of August 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.01. Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans ..............................................105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement .........................................................114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..................114

CONCERNING THE TRUSTEE. 96 Section 8.01. Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..................................................99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement Supplement...............................................114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement.............................................................114

CONCERNING THE TRUSTEE. 96 97 Section 8.01. Duties of Trustee....................................................96 ................................................................97 Section 8.02. Certain Matters Affecting the Trustee................................97 ............................................98 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................100 Section 8.04. Trustee May Own Certificates.........................................99 ....................................................100 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.............100 Section 8.06. Eligibility Requirements for Trustee................................100 ............................................101 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................................102 Section 8.08. Successor Trustee...................................................102 ...............................................................103 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................................103 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................104 Section 8.11. Appointment of Custodians...........................................103 .......................................................105 Section 8.12. Appointment of Office or Agency.....................................104 .................................................105 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES.............................................................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............105 Section 9.02. Additional Termination Requirements.................................108 .............................................109 Section 9.03. Termination of Multiple REMICs......................................109 ..................................................110 ARTICLE X REMIC PROVISIONS.....................................................................................................................................110 Section 10.01.REMIC 10.01. REMIC Administration............................................................................................................110 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement ................114 Section 10.04.Distributions 10.03. Designation of REMIC(s).........................................................114 Section 10.04. Distributions on the Uncertificated REMIC I and REMIC II Regular Interests......114 Section 10.05. As provided in Compliance with Withholding Requirements........................................114 ARTICLE XI MISCELLANEOUS PROVISIONS.....................................................................114 Section 10.04 11.01. Amendment.......................................................................115 Section 11.02. Recordation of Agreement; Counterparts..........................................117 Section 11.03. Limitation on Rights of Certificateholders......................................117 Section 11.04. Governing Law...................................................................118 Section 11.05. Notices.........................................................................118 Section 11.06. Required Notices to Rating Agency and Subservicer...............................118 Section 11.07. Severability of Provisions......................................................119 Section 11.08. Supplemental Provisions for Resecuritization....................................119 Section 11.09. Allocation of Voting Rights.....................................................120 Section 11.10. No Petition.....................................................................120 ARTICLE XII COMPLIANCE WITH REGULATION AB................................................................120 Section 12.01. Intent of Parties; Reasonableness...............................................120 Section 12.02. Additional Representations and Warranties of the Trustee........................121 Section 12.03. Information to be Provided by the Trustee.......................................121 Section 12.04. Report on Assessment of Compliance and Attestation..............................122 Section 12.05. Indemnification; Remedies.......................................................122 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of April 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the date specified therein, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in ...............................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARXXXXX XXI COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Xxxxxxn 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. ........................................31 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. .............................................................32 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities........................33 SECTION 7.04 May Hold Securities...................................................................33 SECTION 7.05 Moneys Held in Trust..................................................................33 SECTION 7.06 Compensation and Reimbursement........................................................33 SECTION 7.07 Reliance on Officers' Certificate.....................................................34 SECTION 7.08 Disqualification; Conflicting Interests...............................................34 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility...............................................34 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor.....................................34 SECTION 7.11 Acceptance of Appointment By Successor................................................36 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business...........................37 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company.................................37 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 Action by Securityholders.................................................37 SECTION 8.02 Proof of Execution by Securityholders.................................................38 SECTION 8.03 Who May be Deemed Owners..............................................................38 SECTION 8.04 Certain Securities Owned by Company Disregarded.......................................38 SECTION 8.05 Actions Binding on Future Securityholders.............................................38 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase SUPPLEMENTAL INDENTURES SECTION 9.01 Supplemental Indentures Without the Consent of Securityholders........................39 SECTION 9.02 Supplemental Indentures With Consent of Securityholders...............................40 SECTION 9.03 Effect of Supplemental Indentures....................................................... SECTION 9.04 Securities Affected by the Master Servicer Supplemental Indentures........................................41 SECTION 9.05 Execution of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 Supplemental Indentures..................................................41 iii ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master ServicerCONSOLIDATION, REMIC Administrator MERGER, CONVEYANCE, TRANSFER OR LEASE SECTION 10.01 When the Company May Consolidate, Merge, Etc..........................................42 ARTICLE XI SATISFACTION AND DISCHARGE SECTION 11.01 Satisfaction and Trustee Indemnification....113 Section 10.03.Designation Discharge of REMIC(s). As provided Indenture...............................................43 SECTION 11.02 Deposited Moneys and Governmental Obligations to be Held in Section 10.03 Trust.....................43 SECTION 11.03 Payment of the Series Supplement 114 Section 10.04.Distributions Moneys Held by Paying Agents...............................................43 SECTION 11.04 Repayment to Company..................................................................43 ARTICLE XII IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS SECTION 12.01 No Recourse...........................................................................44 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE SECTION 13.01 Company's Option to Effect Defeasance or Covenant Defeasance..........................44 SECTION 13.02 Defeasance and Discharge..............................................................44 SECTION 13.03 Covenant Defeasance...................................................................45 SECTION 13.04 Conditions to Defeasance or Covenant Defeasance.......................................45 SECTION 13.05 Deposited Money and Government Obligations to Be Held in Trust; Miscellaneous Provisions............................................................................47 SECTION 13.06 Reinstatement.........................................................................47 ARTICLE XIV MISCELLANEOUS PROVISIONS SECTION 14.01 Effect on the Uncertificated REMIC I Successors and REMIC II Regular Interests. As provided in Section 10.04 Assigns......................................................47 SECTION 14.02 Actions by Successor..................................................................48 SECTION 14.03 Notices...............................................................................48 SECTION 14.04 Governing Law.........................................................................48 SECTION 14.05 Treatment of the Series Supplement..............114Securities as Debt.......................................................48 SECTION 14.06 Compliance Certificates and Opinions..................................................48 SECTION 14.07 Payments on Business Days.............................................................49 SECTION 14.08 Conflict with Trust Indenture Act.....................................................49 SECTION 14.09 Counterparts..........................................................................49 SECTION 14.10 Separability..........................................................................49 SECTION 14.11 Assignment............................................................................49 SECTION 14.12 Acknowledgment of Rights..............................................................50

CONCERNING THE TRUSTEE. 96 Section 8.0197 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02.....................................................................97 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03.................................................98 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans.................................................99 Section 8.04SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.........................................................100 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..........................................................100 SECTION 9.06. Eligibility Requirements for Trustee.................................................................................100 Section 8.07SECTION 9.07. Resignation and Removal of the Trustee.................................................................................101 Section 8.08SECTION 9.08. Successor Trustee...................................................102 Section 8.09....................................................................101 SECTION 9.09. Merger or Consolidation of Trustee.....................................................................................102 Section 8.10SECTION 9.10. Appointment of Co-Trustee or Separate Trustee...............................................................102 Section 8.11SECTION 9.11. Office of the Trustee................................................................103 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR....................................................................104 SECTION 10.01. Duties of Trust Administrator........................................................104 SECTION 10.02. Certain Matters Affecting the Trust Administrator....................................105 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans....................107 SECTION 10.04. Trust Administrator May Own Certificates.............................................107 SECTION 10.05. Trust Administrator's Fees and Expenses..............................................107 SECTION 10.06. Eligibility Requirements for Trust Administrator.....................................108 SECTION 10.07. Resignation and Removal of Trust Administrator.......................................108 SECTION 10.08. Successor Trust Administrator........................................................109 SECTION 10.09. Merger or Consolidation of Trust Administrator.......................................110 SECTION 10.10. Appointment of CustodiansCo-Trust Administrator or Separate Trust Administrator................110 SECTION 10.11. Office of the Trust Administrator....................................................111 SECTION 10.12. Tax Return...........................................................................111 SECTION 10.13. Determination of Certificate Index...................................................111 ARTICLE XI TERMINATION..........................................................................................112 ARTICLE XII MISCELLANEOUS PROVISIONS............................................................................112 SECTION 12.01. Amendment............................................................................112 SECTION 12.02. Recordation of Agreement; Counterparts...............................................114 SECTION 12.03. Governing Law........................................................................114 SECTION 12.04. Intention of Parties.................................................................115 SECTION 12.05. Notices..............................................................................116 SECTION 12.06. Severability of Provisions...........................................................117 SECTION 12.07. Limitation on Rights of Certificateholders...........................................103 Section 8.12117 SECTION 12.08. Appointment Certificates Nonassessable and Fully Paid............................................118 SECTION 12.09. Protection of Office or Agency.....................................104 Assets.................................................................118 SECTION 12.10. Non-Solicitation.....................................................................118 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE XIII EXCHANGE ACT REPORTING.............................................................................119 SECTION 13.01. Commission Reporting.................................................................119 SECTION 13.02. Form 10-D Reporting..................................................................119 SECTION 13.03. Form 10-K Reporting..................................................................120 SECTION 13.04. Form 8-K Reporting...................................................................121 SECTION 13.05. Delisting; Amendment; Late Filing of Reports.........................................122 SECTION 13.06. Annual Statements of Compliance......................................................123 SECTION 13.07. Annual Assessments of Compliance.....................................................124 SECTION 13.08. Accountant's Attestation.............................................................125 SECTION 13.09. Xxxxxxxx-Xxxxx Certification.........................................................126 SECTION 13.10. Indemnification......................................................................126 EXHIBITS Exhibit A: Form of Class A Certificate..........................................................A-1 Exhibit B: Form of Class M Certificate..........................................................B-1 Exhibit C: Form of Class B Certificate..........................................................C-1 Exhibit D-1: Form of Class AR Certificate.......................................................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.....................................................D-2-1 Exhibit E: Form of Class P Certificate..........................................................E-1 Exhibit F: Form of Class X Certificate..........................................................F-1 Exhibit G: Form of Reverse of Certificates......................................................G-1 Exhibit H-1: Form of Servicer Information.......................................................H-1-1 Exhibit H-2: Reporting Data for Defaulted Loans.................................................H-2-1 Exhibit H-3: Form of Realized Loss Calculation..................................................H-3-1 Exhibit H-4: Reporting Data for Modified Mortgage Loans.........................................H-4-1 Exhibit I-1: Form of Trust Receipt and Initial Certification....................................I-1-1 Exhibit I-2: Form of Trust Receipt and Subsequent Certification.................................I-2-1 Exhibit J: Form of Trust Receipt and Final Certification........................................J-1 Exhibit K: Form of Request for Release..........................................................K-1 Exhibit L: Form of Transferor Certificate.......................................................L-1 Exhibit M-1: Form of Investment Letter..........................................................M-1-1 Exhibit M-2: Form of Rule 144A Letter...........................................................M-2-1 Exhibit M-3: Form of Regulation S Letter........................................................M-3-1 Exhibit N: Form of Transferee Affidavit and Agreement...........................................N-1 Exhibit O: Form of Transfer Certificate.........................................................O-1 Exhibit P: Form of SPS Mortgage Loans Report....................................................P-1 Exhibit Q: Form of SPS Foreclosure Settlement Statement.........................................Q-1 Exhibit R: Relevant Servicing Criteria..........................................................R-1 Exhibit S: Additional Form 10-D Disclosure......................................................S-1 Exhibit T: Form of Monthly Statement to Certificateholders......................................T-1 Exhibit U: Form 8-K Disclosure Information .....................................................U-1 Exhibit V: Form of Back-Up Certification .......................................................V-1 Exhibit W: Additional Disclosure Notification ..................................................W-1 Exhibit X: Form of Subsequent Transfer Agreement ...............................................X-1 Exhibit Y: Additional Form 10-K Disclosure .....................................................Y-1 Exhibit Z: Form of Certification Regarding Substitution of Defective Mortgage Loans ............Z-1 SCHEDULES Schedule I: Mortgage Loan Schedule...............................................................I-1 Schedule IIA: Representations and Warranties of Seller - DLJMC...................................IIA-1 Schedule IIB: Representations and Warranties of Servicer, Special Servicer and Modification Oversight Agent - SPS.................................................IIC-1 Schedule IIC: Representations and Warranties of Servicer - Xxxxx Fargo...........................IID-1 Schedule IID: Representations and Warranties of Servicer - GreenPoint............................IIE-1 Schedule IIE: Representations and Warranties of Servicer - WMMSC.................................IIF-1 Schedule III: Representations and Warranties of DLJMC - Mortgage Loans...........................III-1 This is the STANDARD TERMS OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase POOLING AND SERVICING AGREEMENT, dated as of May 1, 2007 (the "Standard Terms" and as incorporated by reference into a Series Supplement, the "Agreement"), by and among the Depositor, the Seller(s), the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator the Trust Administrator, the Special Servicer, the Modification Oversight Agent, the Trustee and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of Servicers that are party to the Series Supplement..............114. Capitalized terms used in this Agreement and not otherwise defined shall have the meanings assigned to them in Article I below or, if not defined therein, in the applicable Series Supplement.

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................105 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of June 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARTICLE XII COMPLXXXXX XXTH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Section 12.05.Ixxxxxxxxxxxxon; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance axx Xxxxxxxxxon..................124 Section 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 7.01. Duties and Responsibilities of Trustee........................................................... 31 Section 7.02. Reliance on Documents, Opinions, Etc......................................................... 33 Section 7.03. No Responsibility for Recitals, Etc............................................................... 35 Section 7.04. Trustee, Paying Agents, Conversion Agents or Registrar May Own Notes.. 35 Section 7.05. Monies to Be Held in Trust............................................................................ 35 Section 7.06. Compensation and Expenses of Trustee........................................................ 35 Section 7.07. Officers’ Certificate as Evidence................................................................... 36 Section 7.08. Conflicting Interests of Trustee...................................................................... 36 Section 7.09. Eligibility of Trustee...................................................................................... 36 Section 7.10. Resignation or Removal of Trustee............................................................... 36 Section 7.11. Acceptance by Successor Trustee.................................................................. 37 Section 7.12. Succession by Merger, Etc............................................................................. 38 Section 7.13. Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee..................................................................... 38 Section 7.14. Agents; General Provisions........................................................................... 39 ARTICLE 8 CONCERNING THE NOTEHOLDERS Section 8.01. Duties of Trustee....................................................96 Action by Noteholders................................................................................. 39 Section 8.02. Certain Matters Affecting the Trustee................................97 Proof of Execution by Noteholders............................................................. 40 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Who Are Deemed Absolute Owners........................................................... 40 Section 8.04. Trustee May Own Certificates.........................................99 Company-Owned Notes Disregarded......................................................... 40 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRevocation of Consents; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 Future Noteholders Bound................................. 40 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............1149

CONCERNING THE TRUSTEE. 96 Section 8.01193 SECTION 8.1. Duties of Trustee....................................................96 Section 8.02......................................................193 SECTION 8.2. Certain Matters Affecting the Trustee................................97 Section 8.03..................................196 SECTION 8.3. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04..................199 SECTION 8.4. Trustee and Fiscal Agent May Own Certificates.........................................99 Section 8.05..........................201 SECTION 8.5. Master Servicer to Pay Payment of Trustee's Fees and Expenses; Indemnification.99 Section 8.06Indemnification................201 SECTION 8.6. Eligibility Requirements for Trustee................................100 Section 8.07...................................203 SECTION 8.7. Resignation and Removal of the Trustee..............................101 Section 8.08.................................204 SECTION 8.8. Successor Trustee...................................................102 Section 8.09......................................................205 SECTION 8.9. Merger or Consolidation of Trustee..................................102 Section .....................................206 SECTION 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section ..........................207 SECTION 8.11. Authenticating Agent...................................................208 SECTION 8.12. Appointment of Custodians...........................................103 Section 8.12..............................................209 SECTION 8.13. Appointment of Office or Agency.....................................104 Fiscal Agent Appointed; Concerning the Fiscal Agent....................210 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01TERMINATION..........................................211 SECTION 9.1. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination............................................................211 SECTION 9.2. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ....................................214 ARTICLE X REMIC MISCELLANEOUS PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114....................................215

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARTICLE XII COMPXXXXXX XITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Section 12.05.Xxxxxxxxxxxxion; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 103 SECTION 8.01. Duties of the Trustee....................................................96 Section .............................................................................103 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section .............................................................104 SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section .............................................................106 SECTION 8.04. Trustee May Own Certificates.........................................99 Section ......................................................................106 SECTION 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section .......................................................................106 SECTION 8.06. Indemnification of Trustee........................................................................106 SECTION 8.07. Eligibility Requirements for Trustee................................100 Section 8.07..............................................................107 SECTION 8.08. Resignation and Removal of the Trustee..............................101 Section 8.08................................................................107 SECTION 8.09. Successor Trustee...................................................102 Section 8.09.................................................................................108 SECTION 8.10. Merger or Consolidation of Trustee..................................102 Section 8.10................................................................109 SECTION 8.11. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section .....................................................109 SECTION 8.12. Appointment of Office or Agency.....................................104 Tax Matters.......................................................................................110 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section TERMINATION......................................................................................................112 SECTION 9.01. Optional Purchase by Termination upon Liquidation or Repurchase of all Mortgage Loans..................................112 SECTION 9.02. Final Distribution on the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02............................................................113 SECTION 9.03. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ...............................................................114 ARTICLE X REMIC MISCELLANEOUS PROVISIONS.........................................................................................115 SECTION 10.01. Amendment.........................................................................................115 SECTION 10.02. Counterparts......................................................................................117 SECTION 10.03. Governing Law.....................................................................................117 SECTION 10.04. Intention of Parties..............................................................................117 SECTION 10.05. Notices...........................................................................................118 SECTION 10.06. Severability of Provisions........................................................................119 SECTION 10.07. Assignment; Advance Facility......................................................................119 SECTION 10.08. Limitation on Rights of Certificateholders........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master 120 SECTION 10.09. Inspection and Audit Rights.......................................................................121 SECTION 10.10. Certificates Nonassessable and Fully Paid.........................................................121 SECTION 10.11. Third Party Rights................................................................................121 SECTION 10.12. Additional Rights of the NIMs Insurer.............................................................121 TABLE OF CONTENTS (continued) EXHIBIT A FORMS OF CERTIFICATES EXHIBIT B-1 MORTGAGE LOAN SCHEDULE - MORTGAGE POOL EXHIBIT B-2 MORTGAGE LOAN SCHEDULE - GROUP ONE MORTGAGE LOANS EXHIBIT B-3 MORTGAGE LOAN SCHEDULE - GROUP TWO MORTGAGE LOANS EXHIBIT C [RESERVED] EXHIBIT D FORM OF TRUSTEE CERTIFICATION EXHIBIT E-1 FORM OF TRANSFEREE'S LETTER AND AFFIDAVIT EXHIBIT E-2 FORM OF TRANSFEROR'S AFFIDAVIT EXHIBIT F FORM OF TRANSFEROR CERTIFICATE EXHIBIT G FORM OF INVESTMENT LETTER (ACCREDITED INVESTOR) EXHIBIT H FORM OF RULE 144A INVESTMENT LETTER (QUALIFIED INSTITUTIONAL BUYER) EXHIBIT I FORM OF REQUEST FOR RELEASE EXHIBIT J [RESERVED] EXHIBIT K FORM OF OFFICER'S CERTIFICATE OF TRUSTEE EXHIBIT L FORM OF OFFICER'S CERTIFICATE OF SERVICER EXHIBIT M [RESERVED] EXHIBIT N-1 FORM OF CLASS A-1 CAP CONTRACT EXHIBIT N-2 FORM OF CLASS A-2 CAP CONTRACT EXHIBIT N-3 FORM OF SUBORDINATED CERTIFICATE CAP CONTRACT EXHIBIT O-1 ONE-MONTH LIBOR CAP TABLE - CLASS A-1 CAP EXHIBIT O-2 ONE MONTH LIBOR CAP TABLE - CLASS A-2 CAP EXHIBIT O-3 ONE MONTH LIBOR CAP TABLE - SUBORDINATED CERTIFICATE CAP CONTRACT POOLING AND SERVICING AGREEMENT (the "Agreement"), dated as of May 1, 2005, among MERRILL LYNCH MORTGAGE INVESTORS, INC., a Delaware corporation, as depxxxxxx (xxx "Depositor"), WELLS FARGO BANK, N.A, a national banking association, as trustee (the "Xxxstee") and WILSHIRE CREDIT CORPORATION, a Nevada corporation, as servicer (the "Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s"). As provided The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of (i) two real estate mortgage investment conduits in a tiered structure, (ii) the right to receive payments distributable to the Class P Certificates pursuant to Section 4.04(b)(i) hereof, (iii) each Cap Contract and the Cap Contract Account and (iv) the grantor trusts described in Section 10.03 2.07 hereof. The Lower Tier REMIC will consist of all of the Series Supplement 114 Section 10.04.Distributions on assets constituting the Uncertificated Trust Fund (other than the assets described in clauses (ii), (iii) and (iv) above and the Lower Tier REMIC I Regular Interests) and will be evidenced by the Lower Tier REMIC II Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC Regular Interests. As provided in Section 10.04 The Upper Tier REMIC will consist of the Series Supplement..............114Lower Tier REMIC Regular Interests and will be evidenced by the REMIC Regular Interests (which will represent the "regular interests" in the Upper Tier REMIC) and the Residual Interest as the single "residual interest" in the Upper Tier REMIC. The Class R Certificate will represent beneficial ownership of the Class LTR Interest and the Residual Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. All covenants and agreements made by the Seller in the Sale Agreement and by the Depositor and the Trustee herein with respect to the Mortgage Loans and the other property constituting the Trust Fund are for the benefit of the Holders from time to time of the Certificates and, to the extent provided herein, the NIMs Insurer. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee hereby agree as follows:

CONCERNING THE TRUSTEE. 96 101 Section 8.01. 8.1 Duties of Trustee....................................................96 ........................................................ 101 Section 8.02. 8.2 Certain Matters Affecting the Trustee................................97 ........................................ 103 Section 8.03. 8.3 Trustee Not Required to Make Investigation............................... 104 Section 8.4 Trustee Not Liable for Certificates or Mortgage Loans................99 ............................. 104 Section 8.04. 8.5 Trustee May Own Certificates.........................................99 ............................................. 105 Section 8.05. Master 8.6 Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .............................. 105 Section 8.06. 8.7 Eligibility Requirements for Trustee................................100 ..................................... 105 Section 8.07. 8.8 Resignation and Removal of the Trustee..............................101 ....................................... 106 Section 8.08. 8.9 Successor Trustee...................................................102 ........................................................ 106 Section 8.09. 8.10 Merger or Consolidation of Trustee..................................102 ....................................... 107 Section 8.10. 8.11 Appointment of Co-Trustee CoTrustee or Separate Trustee.......................102 ............................ 107 Section 8.11. 8.12 Appointment of Custodians...........................................103 ................................................ 108 Section 8.12. Appointment of Office or Agency.....................................104 8.13 Authenticating Agent..................................................... 109 Section 8.14 Bloomberg................................................................ 109 Section 8.15 Reports to Securities and Exchange Commission............................ 110 Section 8.16 [Reserved]............................................................... 110 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION................................................................................ 108 Section 9.01. Optional 9.1 Termination upon Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or Liquidation of All Mortgage Loans105 Loans......................................... 108 Section 9.02. 9.2 Trusts Irrevocable....................................................... 110 Section 9.3 Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...................................... 110

CONCERNING THE TRUSTEE. 96 124 Section 8.01. Duties of Trustee....................................................96 ...............................................................124 Section 8.02. Certain Matters Affecting the Trustee................................97 ...........................................126 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................127 Section 8.04. Trustee May Own Certificates.........................................99 ....................................................128 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.............128 Section 8.06. Eligibility Requirements for Trustee................................100 ............................................129 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................................129 Section 8.08. Successor Trustee...................................................102 ...............................................................130 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................................131 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................131 Section 8.11. Appointment of Custodians...........................................103 .......................................................132 Section 8.12. Appointment of Office or Agency.....................................104 .................................................132 Section 8.13. DTC Letter of Representations...................................................132 Section 8.14. Yield Maintenance Agreement, Basic Risk Cap Agreement and Swap Agreement........132 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION..............................................................................133 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Residential Funding or Liquidation of All Mortgage Loans105 Loans..................................................................133 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .............................................136 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114X

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. ......................25 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. ...........................................26 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities......27 SECTION 7.04 May Hold Securities.................................................27 SECTION 7.05 Moneys Held in Trust................................................28 SECTION 7.06 Compensation and Reimbursement......................................28 SECTION 7.07 Reliance on Officers' Certificate...................................28 SECTION 7.08 Disqualification; Conflicting Interests.............................29 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility.............................29 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor...................29 SECTION 7.11 Acceptance of Appointment By Successor..............................30 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business.........32 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company...............32 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Action by the Master Servicer Securityholders...............................32 SECTION 8.02 Proof of All Certificates; Termination Upon Purchase Execution by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Securityholders...............................33 SECTION 8.03 Who May be Deemed Owners............................................33 SECTION 8.04 Certain Securities Owned by Company Disregarded.....................33 -iii-

CONCERNING THE TRUSTEE. 96 66 Section 8.01. Duties of the Trustee and Supplemental Interest Trust Trustee....................................................96 ....66 Section 8.02. Certain Matters Affecting the Trustee and Supplemental Interest Trust Trustee................................97 ...........................................68 Section 8.03. Trustee and Supplemental Interest Trust Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................69 Section 8.04. Trustee and Supplemental Interest Trust Trustee May Own Certificates.........................................99 .....................................................70 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..................................................70 Section 8.06. Eligibility Requirements for Trustee................................100 .............................71 Section 8.07. Resignation and Removal of the Trustee and Supplemental Interest Trust Trustee..............................101 ...........................................71 Section 8.08. Successor Trustee and Successor Supplemental Interest Trust Trustee...................................................102 ..........................................................73 Section 8.09. Merger or Consolidation of Trustee..................................102 Trustee ..............................73 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ....................74 Section 8.11. Appointment of Custodians...........................................103 ........................................74 Section 8.12. Appointment of Office or Agency.....................................104 ..................................74 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION..............................................................75 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans....................75 Section 9.02. Additional Termination Requirements.................................108 Distributions....................................................77 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of Statements to Certificateholders; Statements to the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Rating Agencies; Exchange Act Reporting.................................77

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 AXXXXXX XII COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Xxxxxon 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.01APPOINTMENT OF REGISTRAR AND PAYING AGENT, REMARKETING AGENT, AUCTION AGENT AND INDEXING AGENT SECTION 11.01. Duties Appointment of Trustee....................................................96 Section 8.02................................. XI-1 SECTION 11.02. Certain Matters Affecting the Trustee................................97 Section 8.03Indemnification of Trustee as Condition for Remedial Action........................................ XI-1 SECTION 11.03. Trustee Not Liable for Certificates Failure of the Authority or Mortgage Loans................99 Section 8.04Company to Act......................................... XI-1 SECTION 11.04. Certain Duties and Responsibilities of the Trustee..... XI-2 SECTION 11.05. Limitations on Obligations and Responsibilities of Trustee............................................. XI-4 SECTION 11.06. Compensation and Indemnification of Trustee............ XI-4 SECTION 11.07. Statements from Trustee................................ XI-4 SECTION 11.08. Notice of Default...................................... XI-5 SECTION 11.09. Trustee May Own Certificates.........................................99 Section 8.05Deal in Bonds.............................. XI-5 SECTION 11.10. Master Servicer to Pay Trustee Not Responsible For Recitals................... XI-5 SECTION 11.11. Qualification of the Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07........................... XI-5 SECTION 11.12. Resignation and Removal of the Trustee..............................101 Section 8.08..................... XI-6 SECTION 11.13. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10...................................... XI-7 SECTION 11.14. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11Remarketing Agent....................... XI-7 SECTION 11.15. Appointment of Custodians...........................................103 Section 8.12Registrar and Paying Agent.............. XI-8 SECTION 11.16. General Provisions Regarding Registrar and Paying Agent........................................... XI-8 SECTION 11.17. Payment of Registrar and Paying Agent; Indemnification........................................ XI-9 SECTION 11.18. Registrar and Paying Agent's Performance; Duty of Care........................................... XI-9 SECTION 11.19. Qualifications of Registrar and Paying Agent........... XI-10 SECTION 11.20. Resignation or Removal of Registrar and Paying Agent and Successor to Registrar and Paying Agent; Termination of Registrar and Paying Agent's Obligations............... XI-10 SECTION 11.21. Appointment of Office Auction Agent; Qualifications of Auction Agent, Resignation; Removal.................... XI-10 SECTION 11.22. Appointment of Broker-Dealers.......................... XI-11 SECTION 11.23. Appointment of Additional Paying Agents; Each Paying Agent to Hold Money in Trust............... XI-11 SECTION 11.24. Appointment and Duties of Indexing Agents.............. XI-11 SECTION 11.25. Qualifications of Indexing Agents...................... XI-12 ARTICLE XII EVENTS OF DEFAULT; REMEDIES UPON OCCURRENCE THEREOF SECTION 12.01. Events of Default...................................... XII-1 SECTION 12.02. Notice to Holders and Others Upon Occurrence of an Event of Default or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01a Payment Default............... XII-1 SECTION 12.03. Optional Purchase by the Master Servicer Declaration of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator Principal and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sInterest As Due........... XII-2 (iv). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114

CONCERNING THE TRUSTEE. 96 103 Section 8.01. Duties of Trustee....................................................96 ...............................................103 Section 8.02. Certain Matters Affecting the Trustee................................97 ...........................104 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........105 Section 8.04. Trustee May Own Certificates.........................................99 ....................................106 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................106 Section 8.06. Eligibility Requirements for Trustee................................100 ............................106 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................107 Section 8.08. Successor Trustee...................................................102 ...............................................108 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................108 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................108 Section 8.11. Appointment of Custodians...........................................103 .......................................109 Section 8.12. Appointment of Office or Agency.................................110 Section 8.13. DTC Letter of Representations...................................110 Section 8.14. Yield Maintenance Agreement.....................................104 110 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION....................................................................111 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...........................................................111 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .............................114 ARTICLE X REMIC PROVISIONS........................................................110 ................................................................116 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ............................................116 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 .................................................119 ARTICLE XI MISCELLANEOUS PROVISIONS.......................................................120 Section 10.03.Designation 11.01. Amendment.......................................................120 Section 11.02. Recordation of REMIC(s)Agreement; Counterparts..........................122 Section 11.03. As provided in Limitation on Rights of Certificateholders......................122 Section 10.03 11.04. Governing Law...................................................123 Section 11.05. Notices.........................................................123 Section 11.06. Notices to Rating Agencies......................................124 Section 11.07. Severability of Provisions......................................124 Section 11.08. Supplemental Provisions for Resecuritization....................124 Section 11.09. Third-Party Beneficiary.........................................125 ARTICLE XII COMPLIANCE WITH REGULATION AB.................................................125 Section 12.01. Intent of Parties; Reasonableness...............................125 Section 12.02. Additional Representations and Warranties of the Series Supplement 114 Trustee........126 Section 10.04.Distributions 12.03. Information to be Provided by the Trustee.......................126 Section 12.04. Report on Assessment of Compliance and Attestation..............127 Section 12.05. Indemnification; Remedies.......................................127 Exhibit A Form of Class A Certificate................................................A-1 Exhibit B Form of Class M Certificate................................................B-1 Exhibit C Form of Class SB Certificate...............................................C-1 Exhibit D Form of Class R Certificate................................................D-1 Exhibit E Form of Custodial Agreement................................................E-1 Exhibit F Mortgage Loan Schedule.....................................................F-1 Exhibit G Form of Request for Release................................................G-1 Exhibit H-1 Form of Transfer Affidavit and Agreement.................................H-1-1 Exhibit H-2 Form of Transferor Certificate...........................................H-2-1 Exhibit I Form of Investor Representation Letter.....................................I-1 Exhibit J Form of Transferor Representation Letter...................................J-1 Exhibit K Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty....................................K-1 Exhibit L Form of Limited Guaranty...................................................L-1 Exhibit M Form of Lender Certification for Assignment of Mortgage Loan...............M-1 Exhibit N Form of Rule 144A Investment Representation................................N-1 Exhibit O [Reserved].................................................................O-1 Exhibit P Form of ERISA Letter.......................................................P-1 Exhibit Q [Reserved].................................................................Q-1 Exhibit R Assignment Agreement......................................................R-1 Exhibit S Servicing Criteria.........................................................S-1 Exhibit T-1 Form of 10-K Certification...............................................T-1-1 Exhibit T-2 Form of Back-Up Certification............................................T-2-1 Exhibit U Information to be Provided by the Uncertificated REMIC I Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans....................U-1 This Pooling and REMIC II Regular Interests. As provided in Section 10.04 Servicing Agreement, effective as of February 1, 2006, among RESIDENTIAL ASSET SECURITIES CORPORATION, as the depositor (together with its permitted successors and assigns, the "Depositor"), RESIDENTIAL FUNDING CORPORATION, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and U.S. BANK NATIONAL ASSOCIATION, a banking association organized under the laws of the Series Supplement..............114United States, as trustee (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 116 Section 8.01. Duties of Trustee....................................................96 .........................................................116 Section 8.02. Certain Matters Affecting the Trustee................................97 .....................................117 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 .....................119 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.......119 Section 8.068.05. Eligibility Requirements for Trustee................................100 ......................................120 Section 8.078.06. Resignation and Removal of the Trustee..............................101 ....................................121 Section 8.088.07. Successor Trustee...................................................102 .........................................................122 Section 8.098.08. Merger or Consolidation of Trustee..................................102 ........................................122 Section 8.108.09. Appointment of Co-Trustee or Separate Trustee.......................102 .............................122 Section 8.118.10. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 .................................................123 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION.....................................................................125 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Residential Funding or Liquidation of All Mortgage Loans105 Loans........................................................125 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .......................................128 ARTICLE X REMIC PROVISIONS........................................................110 .................................................................129 Section 10.01.REMIC Administration................................................110 ......................................................129 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 ..........132 ARTICLE XI MISCELLANEOUS PROVISIONS........................................................134 Section 10.03.Designation 11.01.Amendment.................................................................134 Section 11.02.Recordation of REMIC(sAgreement; Counterparts....................................136 Section 11.03.Limitation on Rights of Certificateholders................................137 Section 11.04.Governing Law.............................................................137 Section 11.05.Notices...................................................................138 Section 11.06.Notices to Rating Agencies................................................138 Section 11.07.Severability of Provisions................................................139 Section 11.08.Supplemental Provisions for Resecuritization..............................139 Section 11.09.[Reserved]................................................................140 Section 11.10.Third Party Beneficiary...................................................140 Exhibits Exhibit A Form of Class A Certificate Exhibit B Form of Class M Certificate Exhibit C Form of Class SB Certificate Exhibit D Form of Class R Certificate Exhibit E Form of Custodial Agreement Exhibit F-1 Group I Loan Schedule Exhibit F-2 Group II Loan Schedule Exhibit G Forms of Request for Release Exhibit H-1 Form of Transfer Affidavit and Agreement Exhibit H-2 Form of Transferor Certificate Exhibit I Form of Investor Representation Letter Exhibit J Form of Transferor Representation Letter Exhibit K Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L Form of Limited Guaranty Exhibit M Form of Lender Certification for Assignment of Mortgage Loan Exhibit N Form of Rule 144A Investment Representation Exhibit O [Reserved] Exhibit P Form of ERISA Representation Letter (Class M Certificates) Exhibit Q [Reserved] Exhibit R-1 Form 10-K Certification Exhibit R-2 Form 10-K Back-up Certification Exhibit S Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit T Schedule of Yield Maintenance Agreement Notional Balances Exhibit U Schedule of Monthly Strike Rates and Monthly Ceiling Rates This Pooling and Servicing Agreement, effective as of February 1, 2005, among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as depositor (together with its permitted successors and assigns, the “Depositor”). As provided in Section 10.03 , RESIDENTIAL FUNDING CORPORATION, as master servicer (together with its permitted successors and assigns, the “Master Servicer”), and JPMORGAN CHASE BANK, N.A., a banking association organized under the laws of the Series Supplement 114 Section 10.04.Distributions on United States, as trustee (together with its permitted successors and assigns, the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114“Trustee”).

CONCERNING THE TRUSTEE. 96 56 Section 8.01. Duties of the Trustee....................................................96 ............................................56 Section 8.02. Certain Matters Affecting the Trustee................................97 ............................57 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ............59 Section 8.04. Trustee May Own Certificates.........................................99 .....................................59 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..................................................59 Section 8.06. Eligibility Requirements for Trustee................................100 .............................61 Section 8.07. Resignation and Removal of the Trustee..............................101 ...........................61 Section 8.08. Successor Trustee...................................................102 ................................................62 Section 8.09. Merger or Consolidation of Trustee..................................102 ...............................62 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ....................63 Section 8.11. Appointment of Custodians...........................................103 ........................................63 Section 8.12. Appointment of Office or Agency.....................................104 ..................................63 Section 8.13. [Reserved].......................................................63 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION.....................................................................64 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans....................64 Section 9.02. Additional Termination Requirements.................................108 ..............................67 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...................................67

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. ...................... 25 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. ........................................... 26 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities...... 27 SECTION 7.04 May Hold Securities................................................. 27 SECTION 7.05 Moneys Held in Trust................................................ 27 SECTION 7.06 Compensation and Reimbursement...................................... 27 SECTION 7.07 Reliance on Officers' Certificate................................... 28 SECTION 7.08 Disqualification; Conflicting Interests............................. 28 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility............................. 28 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor................... 29 SECTION 7.11 Acceptance of Appointment By Successor.............................. 30 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business......... 31 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company............... 31 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Action by the Master Servicer Securityholders............................... 32 SECTION 8.02 Proof of All Certificates; Termination Upon Purchase Execution by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Securityholders............................... 32 SECTION 8.03 Who May be Deemed Owners............................................ 33 SECTION 8.04 Certain Securities Owned by Company Disregarded..................... 33 -iii-

CONCERNING THE TRUSTEE. 96 69 Section 8.018.1. Duties of Trustee....................................................96 ; Notice of Defaults.................................................69 Section 8.028.2. Certain Matters Affecting the Trustee................................97 .................................................72 Section 8.038.3. Trustee Not Liable for Recitals in Certificates or Mortgage Loans................99 Underlying Securities..............73 Section 8.048.4. Trustee May Own Certificates.........................................99 ..........................................................73 Section 8.058.5. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification; Undertaking for Costs...................73 Section 8.068.6. Eligibility Requirements for Trustee................................100 ..................................................74 Section 8.078.7. Resignation and or Removal of the Trustee..............................101 .................................................75 Section 8.088.8. Successor Trustee...................................................102 .....................................................................75 Section 8.098.9. Merger or Consolidation of Trustee..................................102 ....................................................76 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .........................................76 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .......................................................77 Section 9.018.12. Optional Purchase by the Master Servicer Representations and Warranties of All Certificates; Termination Upon Purchase by the Master Servicer Trustee.............................................77 Section 8.13. Trustee to Act Only in Accordance With These Standard Terms or Liquidation Pursuant to Instructions of All Mortgage Loans105 Certificateholders....................................................78 Section 9.028.14. Additional Termination Requirements.................................108 Accounting and Reports to Certificateholders, Internal Revenue Service and Others................................................................................78 Section 9.038.15. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Signature on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Returns..................................................................78

CONCERNING THE TRUSTEE. 96 Section 8.01150 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02....................................................................150 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03................................................151 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04................................152 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.........................................................153 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..........................................................153 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.................................................153 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08...................................................154 SECTION 9.08. Successor Trustee...................................................102 Section 8.09....................................................................154 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10...................................................155 SECTION 9.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11........................................155 SECTION 9.11. Office of the Trustee................................................................156 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR....................................................................157 SECTION 10.01. Duties of Trust Administrator........................................................157 SECTION 10.02. Certain Matters Affecting the Trust Administrator....................................158 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans....................160 SECTION 10.04. Trust Administrator May Own Certificates.............................................160 SECTION 10.05. Trust Administrator's Fees and Expenses..............................................160 SECTION 10.06. Eligibility Requirements for Trust Administrator.....................................161 SECTION 10.07. Resignation and Removal of Trust Administrator.......................................161 SECTION 10.08. Successor Trust Administrator........................................................162 SECTION 10.09. Merger or Consolidation of Trust Administrator.......................................163 SECTION 10.10. Appointment of Custodians...........................................103 Section 8.12Co-Trust Administrator or Separate Trust Administrator........................................................................163 SECTION 10.11. Appointment Office of Office the Trust Administrator....................................................164 SECTION 10.12. Tax Return...........................................................................164 SECTION 10.13. Determination of Certificate Index...................................................164 ARTICLE XI TERMINATION..........................................................................................165 SECTION 11.01. Termination upon Liquidation or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01Purchase of all Mortgage Loans.......................165 SECTION 11.02. Determination of the Terminating Entity..............................................167 SECTION 11.03. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Terminating Auction Sale......................168 SECTION 11.04. Additional Termination Requirements.................................108 Section 9.03..................................................169 ARTICLE XII MISCELLANEOUS PROVISIONS............................................................................171 SECTION 12.01. Termination Amendment............................................................................171 SECTION 12.02. Recordation of Multiple REMICsAgreement; Counterparts...............................................173 SECTION 12.03. Governing Law........................................................................173 SECTION 12.04. Intention of Parties.................................................................173 SECTION 12.05. Notices..............................................................................175 SECTION 12.06. Severability of Provisions...........................................................175 SECTION 12.07. Limitation on Rights of Certificateholders...........................................176 SECTION 12.08. Certificates Nonassessable and Fully Paid............................................176 SECTION 12.09. Protection of Assets.................................................................176 SECTION 12.10. Non-Solicitation.....................................................................177 ARTICLE XIII EXCHANGE ACT REPORTING.............................................................................177 SECTION 13.01. Commission Reporting.................................................................177 SECTION 13.02. Form 10-D Reporting..................................................................178 SECTION 13.03. Form 10-K Reporting..................................................................179 SECTION 13.04. Form 8-K Reporting...................................................................180 SECTION 13.05. Delisting; Amendment; Late Filing of Reports.........................................181 SECTION 13.06. Annual Statements of Compliance......................................................181 SECTION 13.07. Annual Assessments of Compliance.....................................................182 SECTION 13.08. Accountant's Attestation.............................................................183 SECTION 13.09. Sarbanes-Oxley Certification.........................................................184 SXXXXXX 00.00. Indemnification......................................................................185 EXHIBITS Exhibit A: Form of Class A Certificate..........................................................A-1 Exhibit B: Form of Class 4-M Certificate........................................................B-1 Exhibit C: Form of Class B Certificate..........................................................C-1 Exhibit D-1: Form of Class AR Certificate.......................................................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.....................................................D-2-1 Exhibit E: Form of Class P Certificate..........................................................E-1 Exhibit F: Form of Class X Certificate..........................................................F-1 Exhibit G: Form of Reverse of Certificates......................................................G-1 Exhibit H-1: Form of Servicer Information.......................................................H-1-1 Exhibit H-2: Reporting Data for Defaulted Loans.................................................H-2-1 Exhibit H-3: Form of Realized Loss Calculation..................................................H-3-1 Exhibit I: Form of Trust Receipt and Initial Certification......................................109 ARTICLE X REMIC PROVISIONSI-1 Exhibit J: Form of Trust Receipt and Final Certification........................................J-1 Exhibit K: Form of Request for Release..........................................................K-1 Exhibit L: Form of Transferor Certificate.......................................................L-1 Exhibit M-1: Form of Investment Letter..........................................................M-1-1 Exhibit M-2: Form of Rule 144A Letter...........................................................M-2-1 Exhibit M-3: Form of Regulation S Letter........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master M-3-1 Exhibit N: Form of Transferee Affidavit and Agreement...........................................N-1 Exhibit O: Form of Transfer Certificate.........................................................O-1 Exhibit P: Form of SPS Mortgage Loans Report....................................................P-1 Exhibit Q: Form of SPS Foreclosure Settlement Statement.........................................Q-1 Exhibit R: Relevant Servicing Criteria..........................................................R-1 Exhibit S: Additional Form 10-D Disclosure......................................................S-1 Exhibit T: Form of Monthly Statement to Certificateholders......................................T-1 Exhibit U: Form 8-K Disclosure Information .....................................................U-1 Exhibit V: Form of Back-Up Certification .......................................................V-1 Exhibit W: Additional Disclosure Notification ..................................................W-1 Exhibit X: [Reserved] ..........................................................................X-1 Exhibit Y: Additional Form 10-K Disclosure .....................................................Y-1 Exhibit Z: Form of Certification Regarding Substitution of Defective Mortgage Loans ..............................................................................Z-1 SCHEDULES Schedule I: Mortgage Loan Schedule...............................................................I-1 Schedule IIA: Representations and Warranties of Seller - DLJMC...................................IIA-1 Schedule IIB: Representations and Warranties of Master Servicer - Wells Fargo....................IIB-1 Schedule IIC: Representations and Warrantiex xx Servicer and Special Servicer - SPS................................................................................IIC-1 Schedule IID: Representations and Warranties of Servicer - Wells Fargo...........................IID-1 Schedule IIE: Representations and Waxxxxxies of Servicer - GreenPoint............................IIE-1 Schedule III: Representations and Warranties of DLJMC - Mortgage Loans...........................III-1 APPENDICES Appendix A: Calculation of Class Y Principal Reduction Amounts .........................Appendix A-1 THIS POOLING AND SERVICING AGREEMENT, dated as of July 1, 2006, is hereby executed by and among CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., as depositor (the "Depositor"), DLJ MORTGAGE CAPITAL, INC. ("DLJMC"), as seller (in such capacity, the "Seller"), WELLS FARGO BANK, N.A., as master servicer (in such capacity, the "Master Servicer"), REMIC Administrator xx x servicer (in such capacity, a "Servicer"), and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sas trust administrator (in such capacity, the "Trust Administrator"), GREENPOINT MORTGAGE FUNDING, INC. ("GreenPoint"), as servicer (in such capacity, a "Servicer"), SELECT PORTFOLIO SERVICING, INC. ("SPS"), as a servicer (in such capacity, a "Servicer"), and as special servicer (in such capacity, the "Special Servicer"), and U.S. BANK NATIONAL ASSOCIATION, as trustee (in such capacity, the "Trustee"). As provided Capitalized terms used in Section 10.03 of this Agreement and not otherwise defined shall have the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC meanings assigned to them in Article I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114below.

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 6.1 Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal Responsibilities of the Trustee..............................101 Section 8.08; During Default; Prior to Default...........................................................40 SECTION 6.2 Certain Rights of the Trustee.......................................................42 SECTION 6.3 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof.......................................43 SECTION 6.4 Trustee and Agents May Hold Securities; Collections, etc. ...............................................................................43 SECTION 6.5 Moneys Held by Trustee..............................................................43 SECTION 6.6 Compensation and Indemnification of Trustee and Its Prior Claim.........................................................................43 SECTION 6.7 Right of Trustee to Rely on Officer's Certificate, etc. ............................44 SECTION 6.8 Qualification of Trustee; Conflicting Interests.....................................44 SECTION 6.9 Persons Eligible for Appointment as Trustee.........................................50 SECTION 6.10 Resignation and Removal; Appointment of Successor Trustee...................................................102 Section 8.09. Merger .............................................................................51 SECTION 6.11 Acceptance of Appointment by Successor Trustee......................................52 SECTION 6.12 Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee..................................102 Section 8.10. Appointment .................................................................53 SECTION 6.13 Preferential Collection of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by Claims Against the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Issuer................................54 SECTION 6.14

CONCERNING THE TRUSTEE. 96 Section 8.01. 9.01 Duties and Responsibilities of Trustee....................................................96 .............................43 Section 8.02. Certain Matters Affecting the 9.02 Reliance on Documents, Opinions, Etc...............................45 Section 9.03 No Responsibility For Recitals, Etc................................45 Section 9.04 Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee , Authenticating Agent, Paying Agent Or Registrar May Own CertificatesNotes......................................................46 Section 9.05 Moneys To Be Held In Trust.........................................99 46 Section 8.05. Master Servicer to Pay 9.06 Compensation And Expenses Of Trustee's Fees and Expenses; Indemnification.99 ...............................46 Section 8.06. 9.07 Officers' Certificate As Evidence..................................46 Section 9.08 Conflicting Interest Of Trustee....................................46 Section 9.09 Existence And Eligibility Requirements for Of Trustee................................100 ...............................47 Section 8.07. 9.10 Resignation and Or Removal of the Of Trustee..............................101 ..................................47 iii Section 8.08. 9.11 Appointment Of Successor Trustee...................................................102 ...................................48 Section 8.09. Merger or Consolidation of 9.12 Acceptance By Successor Trustee..................................102 ....................................48 Section 8.10. Appointment of Co-9.13 Succession By Merger, Etc..........................................49 Section 9.14 Limitations On Rights Of Trustee or Separate Trustee.......................102 As A Creditor.....................49 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 9.15 Authenticating Agent...............................................49 ARTICLE X REMIC PROVISIONS........................................................110 CONCERNING THE NOTEHOLDERS Section 10.01.REMIC Administration................................................110 10.01 Action By Noteholders..............................................50 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in 10.02 Proof Of Execution By Noteholders..................................50 Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Persons Deemed Absolute Owners.....................................51 Section 10.04 of the Series Supplement..............114Company-Owned Notes Disregarded....................................51 Section 10.05 Revocation Of Consents; Future Holders Bound.......................51 Section 10.06 Record Date For Noteholder Acts....................................51 ARTICLE XI NOTEHOLDERS' MEETING Section 11.01 Purposes Of Meetings...............................................52 Section 11.02 Call Of Meetings By Trustee........................................52 Section 11.03 Call Of Meetings By Company Or Noteholders.........................53 Section 11.04 Qualifications For Voting..........................................53 Section 11.05 Regulations........................................................53 Section 11.06 Voting.............................................................54 Section 11.07 Rights Of Trustee Or Noteholders Not Delayed.......................54 ARTICLE XII CONSOLIDATION, MERGER, SALE, TRANSFER OR CONVEYANCE

CONCERNING THE TRUSTEE. 96 Section 8.01. 47 SECTION 6.1 Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal Responsibilities of the Trustee..............................101 Section 8.08. ; During Default; Prior to Default......47 SECTION 6.2 Certain Rights of the Trustee.....................................................48 SECTION 6.3 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof..................................................................49 SECTION 6.4 Trustee and Agents May Hold Securities; Collections, etc..........................50 SECTION 6.5 Moneys Held by Trustee............................................................50 SECTION 6.6 Compensation and Indemnification of Trustee and Its Prior Claim...................50 SECTION 6.7 Right of Trustee to Rely on Officers' Certificate, etc............................51 SECTION 6.8 Disqualification of Trustee; Conflicting Interests................................51 SECTION 6.9 Persons Eligible for Appointment as Trustee.......................................51 SECTION 6.10 Resignation and Removal; Appointment of Successor Trustee...................................................102 Section 8.09. Merger .........................51 SECTION 6.11 Acceptance of Appointment by Successor Trustee....................................53 SECTION 6.12 Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee..................................102 Section 8.10. Appointment ............54 SECTION 6.13 Preferential Collection of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment Claims Against the Company.............................54 ARTICLE SEVEN CONCERNING THE SECURITYHOLDERS....................................................54 SECTION 7.1 Evidence of Custodians...........................................103 Section 8.12. Appointment Action Taken by Securityholders.......................................54 SECTION 7.2 Proof of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Execution of Instruments.................................................55 SECTION 7.3 Holders to Be Treated as Owners...................................................55 SECTION 7.4 Securities Owned by the Master Servicer Company Deemed Not Outstanding................................55 SECTION 7.5 Right of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation Revocation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination Action Taken...............................................56 SECTION 7.6 Record Date for Determination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Holders Entitled to Vote.........................56

CONCERNING THE TRUSTEE. 96 AND THE TRUST ADMINISTRATOR Section 8.01. Duties of Trustee....................................................96 Trustee and Trust Administrator.................................................107 Section 8.02. Certain Matters Affecting the Trustee................................97 Trustee and the Trust Administrator.........................108 Section 8.03. Neither Trustee Not nor Trust Administrator Liable for Certificates or Mortgage Loans................99 .........110 Section 8.04. Trustee and Trust Administrator May Own Certificates.........................................99 ......................................110 Section 8.05. Master Servicer to Pay Trustee's and Trust Administrator's Fees and Expenses; Indemnification.99 .....................................110 Section 8.06. Eligibility Requirements for Trustee................................100 Trustee and Trust Administrator..............................111 Section 8.07. Resignation and Removal of the Trustee..............................101 Trustee and the Trust Administrator........................111 Section 8.08. Successor Trustee...................................................102 Trustee or Trust Administrator..................................................112 Section 8.09. Merger or Consolidation of Trustee..................................102 Trustee or Trust Administrator.................................113 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .............................................113 Section 8.11. Appointment of Custodians...........................................103 [intentionally omitted]...................................................................114 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement ...........................................................114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............1148.13.

CONCERNING THE TRUSTEE. 96 89 Section 8.01. 8.01 Duties of Trustee and Grantor Trust Trustee....................................................96 ......................................89 Section 8.02. 8.02 Certain Matters Affecting the Trustee and Grantor Trust Trustee................................97 ..................91 Section 8.03. 8.03 Trustee and Grantor Trust Trustee Not Liable for Certificates or Mortgage Loans................99 ..92 Section 8.04. 8.04 Trustee and Grantor Trust Trustee May Own Certificates.........................................99 ...........................93 Section 8.05. 8.05 Master Servicer to Pay Trustee's and Grantor Trust Trustee's Fees and Expenses; Indemnification.99 Indemnification ................................................................93 Section 8.06. 8.06 Eligibility Requirements for Trustee................................100 .............................................94 Section 8.07. 8.07 Resignation and Removal of the Trustee and Grantor Trust Trustee..............................101 .................94 Section 8.08. Successor Trustee and Successor Grantor Trust Trustee...................................................102 ............................96 Section 8.09. Merger or Consolidation of Trustee..................................102 ...............................................96 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ....................................97 Section 8.11. Appointment of Custodians...........................................103 the Custodian.....................................................97 Section 8.12. Appointment of Office or Agency..................................................97 Section 8.13. Authorization of Deferred Interest Cap Agreements...............................97 Section 8.14. Authorization of Yield Maintenance Agreement.....................................104 97 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION...............................................................................98 Section 9.01. 9.01 Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by By the Master Servicer or Liquidation of All Mortgage Loans105 Loans.... .......98 Section 9.02. 9.02 Additional Termination Requirements.................................108 .............................................101 Section 9.03. 9.03 Termination of Multiple REMICs......................................109 ..................................................101 Section 9.04 Termination of Grantor Trusts...................................................101 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................102 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ............................................................102 Section 10.02.Master 10.02. Master Servicer, ; REMIC Administrator and Trustee Indemnification....113 ................102 Section 10.03.Designation 10.03. Designation of REMIC(s)REMICs...........................................................102 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..................................102 Section 10.05. As provided Compliance with Withholding Requirements........................................103 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................103 Section 11.01. Amendment.......................................................................103 Section 11.02. Recordation of Agreement; Counterparts..........................................103 Section 11.03. Limitation on Rights of Certificateholders......................................103 Section 11.04. Governing Law...................................................................103 Section 11.05. Notices.........................................................................103 Section 11.06. Required Notices to Rating Agency and Subservicer...............................104 Section 11.07. Severability of Provisions......................................................104 Section 11.08. Supplemental Provisions for Resecuritization....................................104 Section 11.09. Allocation of Voting Rights.....................................................104 Section 11.10. No Petition.....................................................................105 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................106 EXHIBITS Exhibit One: Mortgage Loan Schedule Exhibit Two: Information to be Included in Section 10.04 Monthly Distribution Date Statement Exhibit Three: Standard Terms of the Pooling and Servicing Agreement, dated as of October 30, 2006 This is a Series Supplement..............114, dated as of October 30, 2006 (the "Series Supplement"), to the Standard Terms of Pooling and Servicing Agreement, dated as of October 30, 2006 and attached as Exhibit Three hereto (the "Standard Terms" and, together with this Series Supplement, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee and Grantor Trust Trustee (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 AND THE SECURITIES ADMINISTRATOR; EVENTS OF DEFAULT............................................ 70 Section 8.016.01. Duties of Trustee....................................................96 Trustee and Securities Administrator......... 70 Section 8.026.02. Certain Matters Affecting the Trustee................................97 Trustee and the Securities Administrator............................... 72 Section 8.036.03. Trustee and Securities Administrator Not Liable for Certificates or Mortgage Loans................99 ......................... 74 Section 8.046.04. Trustee and Securities Administrator May Own Certificates.........................................99 ........................................... 74 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.066.05. Eligibility Requirements for Trustee................................100 Trustee and Securities Administrator.......................................... 74 Section 8.076.06. Resignation and Removal of the Trustee..............................101 Trustee and Securities Administrator.......................................... 75 Section 8.086.07. Successor Trustee...................................................102 Trustee or Successor Securities Administrator.......................................... 75 Section 8.096.08. Merger or Consolidation of Trustee..................................102 Trustee or Securities Administrator.......................................... 76 Section 8.106.09. Appointment of Co-Trustee, Separate Trustee or Separate Trustee.......................102 Custodian.............................................. 76 Section 8.116.10. Appointment Authenticating Agents.................................. 78 Section 6.11. Indemnification of Custodians...........................................103 Trustee and Securities Administrator.......................................... 79 Section 8.126.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator Fees and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 Expenses of the Series Supplement 114 Trustee and the Securities Administrator.......................................... 79 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests6.13. As provided in Section 10.04 Collection of the Series Supplement..............114Monies................................... 79

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................105 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................106 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............................107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of September 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 81 Section 8.01. 9.01 Duties of Indenture Trustee....................................................96 ........................................................... 81 Section 8.02. 9.02 Certain Matters Affecting the Indenture Trustee................................97 ....................................... 83 Section 8.03. 9.03 Indenture Trustee Not not Liable for Certificates Notes or Mortgage Loans................99 Contracts................................... 84 Section 8.04. 9.04 Indenture Trustee May Own Certificates.........................................99 Notes....................................................... 84 Section 8.05. Master 9.05 Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Expenses of Indenture Trustee and Certificate of Administrator......................................................................... 84 Section 8.06. 9.06 Eligibility Requirements for Indenture Trustee................................100 ........................................ 85 Section 8.07. 9.07 Resignation and Removal of the Indenture Trustee..............................101 ...................................... 85 Section 8.08. 9.08 Successor Indenture Trustee...................................................102 ........................................................... 86 Section 8.09. 9.09 Merger or Consolidation of Indenture Trustee..................................102 .......................................... 87 TABLE OF CONTENTS (Continued) Page Section 8.10. 9.10 Appointment of Co-Indenture Trustee or Separate Indenture Trustee.......................102 ..................... 87 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. 9.11 Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ....................................................... 88 Section 9.01. Optional Purchase by the Master Servicer 9.14 Determination of All CertificatesLIBOR; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 Auction Procedures............................................ 89 ARTICLE X REMIC PROVISIONS........................................................110 TERMINATION................................................................................ 89 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............11410.01 Termination.......................................................................... 89

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................105 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................106 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans................107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of August 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. ........................................25 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. .............................................................26 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities........................27 SECTION 7.04 May Hold Securities...................................................................27 SECTION 7.05 Moneys Held in Trust..................................................................27 SECTION 7.06 Compensation and Reimbursement........................................................28 SECTION 7.07 Reliance on Officers' Certificate.....................................................28 SECTION 7.08 Disqualification; Conflicting Interests...............................................28 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility...............................................28 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor.....................................29 SECTION 7.11 Acceptance of Appointment By Successor................................................30 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business...........................31 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company.................................32 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Action by the Master Servicer Securityholders.................................................32 SECTION 8.02 Proof of All Certificates; Termination Upon Purchase Execution by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Securityholders.................................................32 SECTION 8.03 Who May be Deemed Owners..............................................................33 SECTION 8.04 Certain Securities Owned by Company Disregarded.......................................33 -iv-

CONCERNING THE TRUSTEE. 96 Section 8.018.1. Duties of Trustee....................................................96 ; Notice of Defaults....................................................... 62 Section 8.028.2. Certain Matters Affecting the Trustee................................97 ....................................................... 64 Section 8.038.3. Trustee Not Liable for Recitals in Certificates or Mortgage Loans................99 Term Assets.............................. 66 Section 8.048.4. Trustee May Own Certificates.........................................99 ................................................................ 66 Section 8.058.5. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................................................ 66 Section 8.068.6. Eligibility Requirements for Trustee................................100 ........................................................ 67 Section 8.078.7. Resignation and or Removal of the Trustee..............................101 ....................................................... 67 Section 8.088.8. Successor Trustee...................................................102 ........................................................................... 68 Section 8.098.9. Merger or Consolidation of Trustee..................................102 .......................................................... 68 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .............................................. 69 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ............................................................ 70 Section 8.12. Representations and Warranties of Trustee.................................................. 70 Section 8.13. Trustee to Act Only in Accordance With This Agreement or Pursuant to Instructions of Certificateholders................................................................ 70 Section 8.14. Accounting and Reports to Certificateholders, Internal Revenue Service and Others................................................................................... 71 Section 8.15. Signature on Returns....................................................................... 71 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114X

CONCERNING THE TRUSTEE. 96 53 Section 8.01. 8.01 Duties of the Trustee....................................................96 . (See Section 8.02. 8.01 of the Standard Terms)....53 Section 8.02 Certain Matters Affecting the Trustee................................97 Trustee (See Section 8.03. 8.02 of the Standard Terms)....................................................53 Section 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 . (See Section 8.04. 8.03 of the Standard Terms)........................................53 Section 8.04 Trustee May Own Certificates.........................................99 . (See Section 8.05. 8.04 of the Standard Terms).............................................................53 Section 8.05 Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification. (See Section 8.06. 8.05 of the Standard Terms)...........................53 Section 8.06 Eligibility Requirements for Trustee................................100 Trustee (See Section 8.07. 8.06 of the Standard Terms)....................................................53 Section 8.07 Resignation and Removal of Trustee. (See Section 8.07 of the Trustee..............................101 Standard Terms)....................................................53 Section 8.08. 8.08 Successor Trustee...................................................102 . (See Section 8.09. 8.08 of the Standard Terms).......53 Section 8.09 Merger or Consolidation of Trustee..................................102 . (See Section 8.10. 8.09 of the Standard Terms)....................................................54 Section 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 Trustee (See Section 8.11. 8.10 of the Standard Terms)................................................54 Section 8.11 Appointment of CustodiansCustodian...........................................103 54 Section 8.12. 8.12 Appointment of Office or Agency.....................................104 . (See Section 8.12 of the Standard Terms).............................................................54 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .........................................................55 Section 9.01. 9.01 Optional Purchase by the Master Servicer of All all Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans.................................................55 Section 9.02. 9.02 Additional Termination Requirements.................................108 . (See Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 9.02 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Standard Terms)....................................................58

CONCERNING THE TRUSTEE. 96 66 Section 8.01. Duties of the Trustee....................................................96 ............................................................66 Section 8.02. Certain Matters Affecting the Trustee................................97 ............................................68 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ............................69 Section 8.04. Trustee Trustee May Own Certificates.........................................99 .............................................70 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..............70 Section 8.06. Eligibility Requirements for Trustee................................100 .............................................71 Section 8.07. Resignation and Removal of the Trustee..............................101 ...........................................71 Section 8.08. Successor Trustee...................................................102 Trustee ...............................................................73 Section 8.09. Merger or Consolidation of Trustee..................................102 Trustee ..............................................73 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ....................................74 Section 8.11. Appointment of Custodians...........................................103 ........................................................74 Section 8.12. Appointment of Office or Agency.....................................104 ..................................................74 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ......................................75 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans........75 Section 9.02. Additional Termination Requirements.................................108 ..............................................77 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...................................................77

CONCERNING THE TRUSTEE. 96 42 Section 8.01. 9.01 Duties and Responsibilities of Trustee....................................................96 .........................................42 Section 8.02. Certain Matters Affecting the 9.02 Reliance on Documents, Opinions, Etc...........................................44 Section 9.03 No Responsibility For Recitals, Etc............................................45 Section 9.04 Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee , Authenticating Agent, Paying Agent Or Registrar May Own Certificates.........................................99 Notes.........45 Section 8.05. Master Servicer to Pay 9.05 Moneys To Be Held In Trust.....................................................45 Section 9.06 Compensation And Expenses Of Trustee's Fees and Expenses; Indemnification.99 ...........................................45 Section 8.06. 9.07 Officers' Certificate As Evidence..............................................45 Section 9.08 Conflicting Interest Of Trustee................................................46 Section 9.09 Existence And Eligibility Requirements for Of Trustee................................100 ...........................................46 Section 8.07. 9.10 Resignation and Or Removal of the Of Trustee..............................101 ..............................................46 Section 8.08. 9.11 Appointment Of Successor Trustee...................................................102 ...............................................47 Section 8.09. Merger or Consolidation of 9.12 Acceptance By Successor Trustee..................................102 ................................................47 Section 8.10. Appointment of Co-9.13 Succession By Merger, Etc......................................................48 Section 9.14 Limitations On Rights Of Trustee or Separate Trustee.......................102 As A Creditor.................................48 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 9.15 Authenticating Agent...........................................................48 ARTICLE X REMIC PROVISIONS........................................................110 CONCERNING THE NOTEHOLDERS.....................................................49 Section 10.01.REMIC Administration................................................110 10.01 Action By Noteholders..........................................................49 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in 10.02 Proof Of Execution By Noteholders..............................................49 Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Persons Deemed Absolute Owners.................................................49 Section 10.04 of the Series Supplement..............114Company-Owned Notes Disregarded................................................50 Section 10.05 Revocation Of Consents; Future Holders Bound...................................50 Section 10.06 Record Date For Noteholder Acts................................................50 ARTICLE XI NOTEHOLDERS' MEETING...........................................................51 Section 11.01 Purposes Of Meetings...........................................................51 Section 11.02 Call Of Meetings By Trustee....................................................51 Section 11.03 Call Of Meetings By Company Or Noteholders.....................................51 Section 11.04 Qualifications For Voting......................................................51 Section 11.05 Regulations....................................................................52 Section 11.06 Voting.........................................................................52 Section 11.07 Rights Of Trustee Or Noteholders Not Delayed...................................53 ARTICLE XII CONSOLIDATION, MERGER, SALE, TRANSFER OR CONVEYANCE............................53 Section 12.01 Company May Consolidate, Etc. Only On Certain Terms............................53 Section 12.02 Successor Corporation Substituted..............................................53

CONCERNING THE TRUSTEE. 96 137 Section 8.019.01. Duties of Trustee....................................................96 ...............................................................137 Section 8.029.02. Certain Matters Affecting the Trustee................................97 ...........................................139 Section 8.039.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................140 Section 8.049.04. Trustee May Own Certificates.........................................99 ....................................................141 Section 8.059.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................................141 Section 8.069.06. Eligibility Requirements for Trustee................................100 ............................................141 Section 8.079.07. Insurance.......................................................................141 Section 9.08. Resignation and Removal of the Trustee..............................101 ..........................................142 Section 8.089.09. Successor Trustee...................................................102 ...............................................................142 Section 8.099.10. Merger or Consolidation of Trustee..................................102 ..............................................143 Section 8.109.11. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................143 Section 8.119.12. Appointment of Custodians...........................................103 Federal Information Returns and Reports to Certificateholders; REMIC Administration; Grantor Trust Administration..............................144 ARTICLE X TERMINATION..............................................................................146 Section 8.1210.01. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Termination Upon Repurchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or Liquidation of All Mortgage Loans105 its Designee or Xxxxxxxxxxx xx xxx Xxxxxxxx Xxxxx...............................................146 Section 9.0210.02. Additional Termination Requirements.................................108 .............................................149 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................150 Section 9.0311.01. Termination Intent of Multiple REMICsParties...............................................................150 Section 11.02. Amendment.......................................................................150 Section 11.03. Recordation of Agreement........................................................151 Section 11.04. Limitation on Rights of Certificateholders......................................109 ARTICLE 151 Section 11.05. Acts of Certificateholders......................................................152 Section 11.06. Governing Law...................................................................153 Section 11.07. Notices.........................................................................153 Section 11.08. Severability of Provisions......................................................154 Section 11.09. Successors and Assigns..........................................................154 Section 11.10. Article and Section Headings....................................................154 Section 11.11. Counterparts....................................................................154 Section 11.12. Notice to Rating Agencies.......................................................154 Section 11.13. Use of Subservicers and Subcontractors..........................................155 EXHIBITS Exhibit A-1 - Form of Class A Certificates Exhibit A-2 - Reserved Exhibit A-3 - Form of Class B Certificates Exhibit A-4 - Form of Class B-IO Certificates Exhibit A-5 - Form of Class R Certificates Exhibit A-6 - Form of Class R-X REMIC PROVISIONS........................................................110 Certificate Exhibit A-7 - Form of Class X Certificate Exhibit A-8 - Form of Class XP Certificate Exhibit B - Mortgage Loan Schedule Exhibit C - Reserved Exhibit D - Request for Release of Documents Exhibit E - Form of Affidavit pursuant to Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer860E(e)(4) Exhibit F-1 - Form of Investment Letter (Non-Rule 144A) Exhibit F-2 - Form of Rule 144A Investment Representation Exhibit F-3 - Form of Transferor Representation Letter Exhibit G - Form of Custodial Agreement Exhibit H - Form of Mortgage Loan Purchase Agreement Exhibit I - Form of Trustee Limited Power of Attorney Exhibit J - Reserved Exhibit K - Loan Level Format for Tape Input, REMIC Administrator Servicer Period Reporting Exhibit L - Reporting Data for Defaulted Loans Exhibit M - Swap Agreements Exhibit N - Form of Cap Contracts Exhibit O - Reserved Exhibit P Servicing Criteria to be Addressed in Assessment of Compliance Exhibit Q-1 - Form of Servicer Back-Up Certification Exhibit Q-2 - Form of Trustee Back-Up Certification Exhibit R - Form 10-D, Form 8-K and Trustee Indemnification....113 Section 10.03.Designation Form 10-K Reporting Responsibility Exhibit S - Additional Disclosure Information Exhibit T - Form of REMIC(sServicer Certification SCHEDULES Schedule A - Coupon Strip Reserve Account Schedule POOLING AND SERVICING AGREEMENT Pooling and Servicing Agreement dated as of October 1, 2006, among Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor"). As provided in Section 10.03 , Wells Fargo Bank, National Association, a banking association organized under the laws of the Series Supplement 114 Section 10.04.Distributions on United Xxxxxs, not in its individual capacity but solely as trustee (the Uncertificated REMIC I "Trustee") and REMIC II Regular Interests. As provided EMC Mortgage Corporation, as servicer (in Section 10.04 of such capacity, the Series Supplement..............114"Servicer"), as company (in such capacity, the "Company" or "EMC") and, as sponsor (in such capacity, the "Sponsor").

CONCERNING THE TRUSTEE. 96 117 Section 8.019.01. Duties of Trustee....................................................96 ...............................................................117 Section 8.029.02. Certain Matters Affecting the Trustee................................97 ...........................................119 Section 8.039.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................120 Section 8.049.04. Trustee May Own Certificates.........................................99 ....................................................121 Section 8.059.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................................121 Section 8.069.06. Eligibility Requirements for Trustee................................100 ............................................121 Section 8.079.07. Insurance.......................................................................121 Section 9.08. Resignation and Removal of the Trustee..............................101 ..........................................122 Section 8.089.09. Successor Trustee...................................................102 ...............................................................122 Section 8.099.10. Merger or Consolidation of Trustee..................................102 ..............................................123 Section 8.109.11. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................123 Section 8.119.12. Appointment of Custodians...........................................103 Section 8.12Federal Information Returns and Reports to Certificateholders; REMIC Administration............................................................124 ARTICLE X TERMINATION..............................................................................127 Xxxxxxx 00.00. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Xxxxxxxxxxx Xxxx Xxxxxxxxxx by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or its Designee or Liquidation of All the Mortgage Loans105 Loans...............................................127 Section 9.0210.02. Additional Termination Requirements.................................108 .............................................129 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................131 Section 9.0311.01. Termination Intent of Multiple REMICsParties...............................................................131 Section 11.02. Amendment.......................................................................131 Section 11.03. Recordation of Agreement........................................................132 Section 11.04. Limitation on Rights of Certificateholders......................................109 ARTICLE 132 Section 11.05. Acts of Certificateholders......................................................133 Section 11.06. Governing Law...................................................................134 Section 11.07. Notices.........................................................................134 Section 11.08. Severability of Provisions......................................................135 Section 11.09. Successors and Assigns..........................................................135 Section 11.10. Article and Section Headings....................................................135 Section 11.11. Counterparts....................................................................135 Section 11.12. Notice to Rating Agencies.......................................................135 Section 11.13. Use of Subservicers and Subcontractors..........................................136 EXHIBITS Exhibit A-1 - Form of Class A Certificate Exhibit A-2 - Reserved Exhibit A-3 - Reserved Exhibit A-4 - Form of Class B-1, Class B-2, Class B-3 and Class B-4 Certificates Exhibit A-5 - Form of Class B-5 Certificate Exhibit A-6 - Form of Class B-IO Certificate Exhibit A-7 - Form of Class R Certificate Exhibit A-8 - Form of Class R-X REMIC PROVISIONS........................................................110 Certificate Exhibit A-9 - Reserved Exhibit A-10 - Form of Class XP Certificate Exhibit B - Mortgage Loan Schedule Exhibit C - Reserved Exhibit D - Request for Release of Documents Exhibit E - Form of Affidavit pursuant to Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer860E(e)(4) Exhibit F-1 - Form of Investment Letter (Non-Rule 144A) Exhibit F-2 - Form of Rule 144A Investment Representation Exhibit F-3 - Form of Transferor Representation Letter Exhibit G - Form of Custodial Agreement Exhibit H - Form of Mortgage Loan Purchase Agreement Exhibit I - Form of Trustee Limited Power of Attorney Exhibit J - Reserved Exhibit K - Loan Level Format for Tape Input, REMIC Administrator Servicer Period Reporting Exhibit L - Reporting Data for Defaulted Loans Exhibit M - Reserved Exhibit N - Form of Corridor Contracts Exhibit O - Reserved Exhibit P - Servicing Criteria to be Addressed in Assessment of Compliance Exhibit Q-1 - Form of Servicer Back-Up Certification Exhibit Q-2 - Form of Trustee Back-Up Certification Exhibit R - Form 10-D, Form 8-K and Trustee Indemnification....113 Section 10.03.Designation Form 10-K Reporting Responsibility Exhibit S - Additional Disclosure Information POOLING AND SERVICING AGREEMENT Pooling and Servicing Agreement dated as of REMIC(sFebruary 1, 2007, among Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor"). As provided in Section 10.03 , Xxxxx Fargo Bank, National Association, a banking association organized under the laws of the Series Supplement 114 Section 10.04.Distributions on United States, not in its individual capacity but solely as trustee (the Uncertificated REMIC I "Trustee") and REMIC II Regular Interests. As provided EMC Mortgage Corporation, as servicer (in Section 10.04 of such capacity, the Series Supplement..............114"Servicer"), as company (in such capacity, the "Company" or "EMC") and, as sponsor (in such capacity, the "Sponsor").

CONCERNING THE TRUSTEE. 96 68 Section 8.01. 8.01 Duties of Trustee....................................................96 ................................................................68 Section 8.02. 8.02 Certain Matters Affecting the Trustee................................97 ............................................68 Section 8.03. 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 ............................68 Section 8.04. 8.04 Trustee May Own Certificates.........................................99 .....................................................68 Section 8.05. 8.05 Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..................................................................68 Section 8.06. 8.06 Eligibility Requirements for Trustee................................100 .............................................68 Section 8.07. 8.07 Resignation and Removal of the Trustee..............................101 ...........................................68 Section 8.08. 8.08 Successor Trustee...................................................102 ................................................................68 Section 8.09. 8.09 Merger or Consolidation of Trustee..................................102 ...............................................68 Section 8.10. 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 ....................................68 Section 8.11. 8.11 Appointment of Custodians...........................................103 ........................................................68 Section 8.12. 8.12 Appointment of Office or Agency.....................................104 ..................................................68 Section 8.13 Preparation of Form W-9..........................................................68 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ......................................70 Section 9.01. 9.01 Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............................................................70 Section 9.02. 9.02 Additional Termination Requirements.................................108 ..............................................72 Section 9.03. 9.03 Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...................................................72

CONCERNING THE TRUSTEE. 96 Section 8.01SECTION 9.01. Duties of Trustee.........................................................................................................................96 Section 8.02SECTION 9.02. Certain Matters Affecting the Trustee.................................................................................97 Section 8.03SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04.................................98 SECTION 9.04. Trustee May Own Certificates...................................................................................................99 Section 8.05SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06...........................................................99 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07..................................................99 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08...................................................100 SECTION 9.08. Successor Trustee...................................................102 Section 8.09....................................................................100 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10...................................................101 SECTION 9.10. Appointment of Co-Trustee or Separate Trustee...............................................................101 SECTION 9.11. Office of the Trustee................................................................102 Section 8.11ARTICLE X CONCERNING THE TRUST ADMINISTRATOR....................................................................103 SECTION 10.01. Duties of Trust Administrator........................................................103 SECTION 10.02. Certain Matters Affecting the Trust Administrator....................................104 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans....................106 SECTION 10.04. Trust Administrator May Own Certificates.............................................106 SECTION 10.05. Trust Administrator's Fees and Expenses..............................................106 SECTION 10.06. Eligibility Requirements for Trust Administrator.....................................107 SECTION 10.07. Resignation and Removal of Trust Administrator.......................................107 SECTION 10.08. Successor Trust Administrator........................................................108 SECTION 10.09. Merger or Consolidation of Trust Administrator.......................................109 SECTION 10.10. Appointment of CustodiansCo-Trust Administrator or Separate Trust Administrator........................................................................109 SECTION 10.11. Office of the Trust Administrator....................................................110 SECTION 10.12. Tax Return...........................................................................110 SECTION 10.13. Determination of Certificate Index...................................................110 ARTICLE XI TERMINATION..........................................................................................111 ARTICLE XII MISCELLANEOUS PROVISIONS............................................................................111 SECTION 12.01. Amendment............................................................................111 SECTION 12.02. Recordation of Agreement; Counterparts...............................................113 SECTION 12.03. Governing Law........................................................................113 SECTION 12.04. Intention of Parties.................................................................114 SECTION 12.05. Notices..............................................................................115 SECTION 12.06. Severability of Provisions...........................................................116 SECTION 12.07. Limitation on Rights of Certificateholders...........................................103 Section 8.12116 SECTION 12.08. Appointment Certificates Nonassessable and Fully Paid............................................117 SECTION 12.09. Protection of Office or Agency.....................................104 Assets.................................................................117 SECTION 12.10. Non-Solicitation.....................................................................117 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE XIII EXCHANGE ACT REPORTING.............................................................................118 SECTION 13.01. Commission Reporting.................................................................118 SECTION 13.02. Form 10-D Reporting..................................................................118 SECTION 13.03. Form 10-K Reporting..................................................................119 SECTION 13.04. Form 8-K Reporting...................................................................121 SECTION 13.05. Delisting; Amendment; Late Filing of Reports.........................................122 SECTION 13.06. Annual Statements of Compliance......................................................122 SECTION 13.07. Annual Assessments of Compliance.....................................................123 SECTION 13.08. Accountant's Attestation.............................................................124 SECTION 13.09. Xxxxxxxx-Xxxxx Certification.........................................................125 SECTION 13.10. Indemnification......................................................................126 -iii- EXHIBITS Exhibit A: Form of Class A Certificate..........................................................A-1 Exhibit B: Form of Class M Certificate..........................................................B-1 Exhibit C: Form of Class B Certificate..........................................................C-1 Exhibit D-1: Form of Class AR Certificate.......................................................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.....................................................D-2-1 Exhibit E: Form of Class P Certificate..........................................................E-1 Exhibit F: Form of Class X Certificate..........................................................F-1 Exhibit G: Form of Reverse of Certificates......................................................G-1 Exhibit H-1: Form of Servicer Information.......................................................H-1-1 Exhibit H-2: Reporting Data for Defaulted Loans.................................................H-2-1 Exhibit H-3: Form of Realized Loss Calculation..................................................H-3-1 Exhibit I-1: Form of Trust Receipt and Initial Certification....................................I-1-1 Exhibit I-2: Form of Trust Receipt and Subsequent Certification.................................I-2-1 Exhibit J: Form of Trust Receipt and Final Certification........................................J-1 Exhibit K: Form of Request for Release..........................................................K-1 Exhibit L: Form of Transferor Certificate.......................................................L-1 Exhibit M-1: Form of Investment Letter..........................................................M-1-1 Exhibit M-2: Form of Rule 144A Letter...........................................................M-2-1 Exhibit M-3: Form of Regulation S Letter........................................................M-3-1 Exhibit N: Form of Transferee Affidavit and Agreement...........................................N-1 Exhibit O: Form of Transfer Certificate.........................................................O-1 Exhibit P: Form of SPS Mortgage Loans Report....................................................P-1 Exhibit Q: Form of SPS Foreclosure Settlement Statement.........................................Q-1 Exhibit R: Relevant Servicing Criteria..........................................................R-1 Exhibit S: Additional Form 10-D Disclosure......................................................S-1 Exhibit T: Form of Monthly Statement to Certificateholders......................................T-1 Exhibit U: Form 8-K Disclosure Information .....................................................U-1 Exhibit V: Form of Back-Up Certification .......................................................V-1 Exhibit W: Additional Disclosure Notification ..................................................W-1 Exhibit X: Form of Subsequent Transfer Agreement ...............................................X-1 Exhibit Y: Additional Form 10-K Disclosure .....................................................Y-1 Exhibit Z: Form of Certification Regarding Substitution of Defective Mortgage Loans ...............................................................................Z-1 SCHEDULES Schedule I: Mortgage Loan Schedule...............................................................I-1 Schedule IIA: Representations and Warranties of Seller - DLJMC...................................IIA-1 Schedule IIB: Representations and Warranties of Servicer, Special Servicer and Modification Oversight Agent - SPS.................................................IIC-1 Schedule IIC: Representations and Warranties of Servicer - Xxxxx Fargo...........................IID-1 Schedule IID: Representations and Warranties of Servicer - GreenPoint............................IIE-1 Schedule IIE: Representations and Warranties of Servicer - WMMSC.................................IIF-1 Schedule III: Representations and Warranties of DLJMC - Mortgage Loans...........................III-1 -iv- This is the STANDARD TERMS OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase POOLING AND SERVICING AGREEMENT, dated as of February 1, 2007 (the "Standard Terms" and as incorporated by reference into a Series Supplement, the "Agreement"), by and among the Depositor, the Seller(s), the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator the Trust Administrator, the Special Servicer, the Modification Oversight Agent, the Trustee and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of Servicers that are party to the Series Supplement..............114. Capitalized terms used in this Agreement and not otherwise defined shall have the meanings assigned to them in Article I below or, if not defined therein, in the applicable Series Supplement.

CONCERNING THE TRUSTEE. 96 Section 8.01. Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement ...............................................................114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114

CONCERNING THE TRUSTEE. 96 124 Section 8.01. Duties of Trustee....................................................96 ...............................................................124 Section 8.02. Certain Matters Affecting the Trustee................................97 ...........................................126 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................127 Section 8.04. Trustee May Own Certificates.........................................99 ....................................................127 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.............128 Section 8.06. Eligibility Requirements for Trustee................................100 ............................................129 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................................129 Section 8.08. Successor Trustee...................................................102 ...............................................................130 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................................130 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................131 Section 8.11. Appointment of Custodians...........................................103 .......................................................132 Section 8.12. Appointment of Office or Agency.....................................104 .................................................132 Section 8.13. DTC Letter of Representations...................................................132 Section 8.14. Yield Maintenance Agreement and Swap Agreement..................................132 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION..............................................................................132 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Residential Funding or Liquidation of All Mortgage Loans105 Loans..................................................................132 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .............................................135 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................136 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ............................................................136 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ................140 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................140 Section 10.03.Designation 11.01. Amendment.......................................................................140 Section 11.02. Recordation of REMIC(s)Agreement; Counterparts..........................................143 Section 11.03. As provided in Limitation on Rights of Certificateholders......................................143 Section 10.03 11.04. Governing Law...................................................................144 Section 11.05. Notices.........................................................................144 Section 11.06. Notices to Rating Agencies......................................................145 Section 11.07. Severability of Provisions......................................................146 Section 11.08. Supplemental Provisions for Resecuritization....................................146 Section 11.09. [Reserved]......................................................................146 Section 11.10. Third Party Beneficiaries.......................................................146 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................147 Section 12.01. Intent of Parties; Reasonableness...............................................147 Section 12.02. Additional Representations and Warranties of the Series Supplement 114 Trustee........................147 Section 10.04.Distributions 12.03. Information to be Provided by the Trustee.......................................148 Section 12.04. Report on Assessment of Compliance and Attestation..............................148 Section 12.05. Indemnification; Remedies.......................................................148 EXHIBITS Exhibit A Form of Class A Certificate Exhibit B Form of Class M Certificate Exhibit C [Reserved] Exhibit D Form of Class SB Certificate Exhibit E Form of Class R Certificate Exhibit F Form of Custodial Agreement Exhibit G Mortgage Loan Schedule Exhibit H Form of Request for Release Exhibit I-1 Form of Transfer Affidavit and Agreement Exhibit I-2 Form of Transferor Certificate Exhibit J Form of Investor Representation Letter Exhibit K Form of Transferor Representation Letter Exhibit L Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit M Form of Limited Guaranty Exhibit N Form of Lender Certification for Assignment of Mortgage Loan Exhibit O Form of Rule 144A Investment Representation Exhibit P [Reserved] Exhibit Q Form of ERISA Representation Letter (Class M Certificates) Exhibit R-1 Form of Form 10-K Certification Exhibit R-2 Form Back-up Certification to Form 10-K Certificate Exhibit S Information to be Provided by the Uncertificated REMIC I Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit T [Reserved] Exhibit U Yield Maintenance Agreement Exhibit V Servicing Criteria to be addressed in Assessment of Compliance Exhibit W Form of ERISA Representation Letter (Class A Certificates) This Pooling and REMIC II Regular Interests. As provided in Section 10.04 Servicing Agreement, effective as of March 1, 2007, among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as depositor (together with its permitted successors and assigns, the "Depositor"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and LASALLE BANK NATIONAL ASSOCIATION, a banking association organized under the laws of the Series Supplement..............114United States, as trustee and supplemental interest trust trustee (together with its permitted successors and assigns, the "Trustee" and the "Supplemental Interest Trust Trustee"), respectively.

CONCERNING THE TRUSTEE. 96 Section 8.01SECTION 7.1. Duties and Responsibilities of the Trustee....................................................96 Section 8.02; During Default; Prior to Default......................43 SECTION 7.2. Certain Matters Affecting Rights of the Trustee................................97 Section 8.0344 SECTION 7.3. Trustee Not Liable Responsible for Certificates Recitals, Disposition of Securities or Mortgage Loans................99 Section 8.04Application of Proceeds Thereof...................................45 SECTION 7.4. Trustee and Agents May Own Certificates.........................................99 Section 8.05Hold Securities; Collections, etc......................................45 SECTION 7.5. Master Servicer Moneys Held by Trustee.......................................46 SECTION 7.6. Compensation and Indemnification of Trustee and Its Prior Claim...................................46 SECTION 7.7. Right of Trustee to Pay Rely on Officers' Certificate, etc......................................46 SECTION 7.8. Qualification of Trustee's Fees and Expenses; Indemnification.99 Section 8.06Conflicting Interests.............................................47 SECTION 7.9. Eligibility Requirements Persons Eligible for Appointment as Trustee................................100 Section 8.07..................47 SECTION 7.10. Resignation and Removal Removal; Appointment of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09.....................................48 SECTION 7.11. Merger Acceptance of Appointment by Successor Trustee...............................................49 SECTION 7.12. Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee..................................102 Section 8.10.....................50 SECTION 7.13. Appointment Preferential Collection of Co-Trustee or Separate Trustee.......................102 Section 8.11Claims Against the Company...........................................50 SECTION 7.14. Appointment Authenticating Agent........................................55 ARTICLE VIII. CONCERNING THE HOLDERS OF SECURITIES SECTION 8.1. Action by Holders............................................57 SECTION 8.2. Proof of CustodiansExecution of Instruments by Holders of Securities.........................................57 SECTION 8.3. Holders to be Treated as Owners..............................58 SECTION 8.4. Securities Owned by Company Deemed Not Outstanding...........................................103 Section 8.1258 SECTION 8.5. Appointment Right of Office or Agency.....................................104 Revocation of Action Taken..........................59 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01IX. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114HOLDERS' MEETINGS

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in ...............................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 AXXXXXX XII COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Xxxxxon 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.0197 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02. 97 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03. 98 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................. 99 Section 8.04SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay 100 SECTION 9.05. Trustee's Fees and Expenses; Indemnification.99 Section 8.06. 100 SECTION 9.06. Eligibility Requirements for Trustee................................. 100 Section 8.07SECTION 9.07. Resignation and Removal of the Trustee............................... 101 Section 8.08SECTION 9.08. Successor Trustee...................................................102 Section 8.09. 101 SECTION 9.09. Merger or Consolidation of Trustee................................... 102 Section 8.10SECTION 9.10. Appointment of Co-Trustee or Separate Trustee........................ 102 Section 8.11SECTION 9.11. Office of the Trustee. 103 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR................................................................ ....104 SECTION 10.01. Duties of Trust Administrator. 104 SECTION 10.02. Certain Matters Affecting the Trust Administrator. 105 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans. 107 SECTION 10.04. Trust Administrator May Own Certificates. 107 SECTION 10.05. Trust Administrator's Fees and Expenses. 107 SECTION 10.06. Eligibility Requirements for Trust Administrator. 108 SECTION 10.07. Resignation and Removal of Trust Administrator. 108 SECTION 10.08. Successor Trust Administrator. 109 SECTION 10.09. Merger or Consolidation of Trust Administrator. 110 SECTION 10.10. Appointment of Custodians...........................................103 Section 8.12Co-Trust Administrator or Separate Trust Administrator. Appointment of 110 SECTION 10.11. Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement Trust Administrator. 111 SECTION 10.12. Tax Return....................................................................... ....111 SECTION 10.13. Determination of Certificate Index. 111 ARTICLE XI TERMINATION.................................................................. ........................112 ARTICLE XII MISCELLANEOUS PROVISIONS................................................................... .........112 SECTION 12.01. Amendment.................................................................... ........112 SECTION 12.02. Recordation of Agreement; Counterparts. 114 Section 10.04.Distributions SECTION 12.03. Governing Law. 114 SECTION 12.04. Intention of Parties. 115 SECTION 12.05. Notices...................................................................... ........116 SECTION 12.06. Severability of Provisions. 117 SECTION 12.07. Limitation on the Uncertificated REMIC I Rights of Certificateholders. 117 SECTION 12.08. Certificates Nonassessable and REMIC II Regular InterestsFully Paid. As provided in Section 10.04 118 SECTION 12.09. Protection of the Series Supplement..............114Assets. 118 SECTION 12.10. Non- Solicitation................................................................. ....118 ARTICLE XIII EXCHANGE ACT REPORTING.................................................................... .........119 SECTION 13.01. Commission Reporting. 119 SECTION 13.02. Form 10-D Reporting. 119 SECTION 13.03. Form 10-K Reporting. 120 SECTION 13.04. Form 8-K Reporting. 1

CONCERNING THE TRUSTEE. 96 Section 8.01113 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02........................................113 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03....................115 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04....................................................116 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.............................116 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..............................116 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.....................117 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08.......................117 SECTION 9.08. Successor Trustee...................................................102 Section 8.09........................................118 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10.......................118 SECTION 9.10. Appointment of Co Trustee or Separate Trustee............119 SECTION 9.11. Office of the Trustee....................................120 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR...............................121 SECTION 10.01. Duties of Trust Administrator............................121 SECTION 10.02. Certain Matters Affecting the Trust Administrator........122 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans...........................................124 SECTION 10.04. Trust Administrator May Own Certificates.................124 SECTION 10.05. Trust Administrator's Fees and Expenses..................124 SECTION 10.06. Eligibility Requirements for Trust Administrator.........125 SECTION 10.07. Resignation and Removal of Trust Administrator...........125 SECTION 10.08. Successor Trust Administrator............................126 SECTION 10.09. Merger or Consolidation of Trust Administrator...........127 SECTION 10.10. Appointment of Co-Trustee Trust Administrator or Separate TrusteeTrust Administrator......................................127 SECTION 10.11. Office of the Trust Administrator........................128 SECTION 10.12. Tax Return...............................................128 SECTION 10.13. Commission Reporting.....................................128 SECTION 10.14. Determination of Certificate Index.......................102 Section 8.11131 ARTICLE XI TERMINATION.....................................................132 SECTION 11.01. Appointment Termination upon Liquidation or Purchase of Custodiansall Mortgage Loans...........................................103 Section 8.12132 SECTION 11.02. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination......................133 SECTION 11.03. Additional Termination Requirements.................................108 Section 9.03......................134 ARTICLE XII MISCELLANEOUS PROVISIONS.......................................135 SECTION 12.01. Termination Amendment................................................135 SECTION 12.02. Recordation of Multiple REMICsAgreement; Counterparts...................137 SECTION 12.03. Governing Law............................................137 SECTION 12.04. Intention of Parties.....................................137 SECTION 12.05. Notices..................................................138 SECTION 12.06. Severability of Provisions...............................139 SECTION 12.07. Limitation on Rights of Certificateholders...............139 SECTION 12.08. Certificates Nonassessable and Fully Paid................140 SECTION 12.09. Protection of Assets.....................................140 SECTION 12.10. Non-Solicitation.........................................140 ARTICLE XIII SPS AND THE MASTER SERVICER...................................141 SECTION 13.01. Reports and Notices......................................109 ARTICLE 141 SECTION 13.02. Master Servicer's Oversight With Respect to the SPS Mortgage Loans.......................................142 SECTION 13.03. Termination..............................................142 SECTION 13.04. Liability and Indemnification............................142 SECTION 13.05. Confidentiality..........................................142 EXHIBITS Exhibit A: Form of Class A Certificate..............................A-1 Exhibit B: Form of Class C-M Certificate............................B-1 Exhibit C: Form of Class C-B Certificate............................C-1 Exhibit D: Form of Class AR Certificate.............................D-1 Exhibit E: Form of Class AR-L Certificate...........................E-1 Exhibit F: Form of Class X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Certificate .............................F-1 Exhibit G: Form of Servicer Information.............................G-1 Exhibit H: Form of Trust Receipt and Initial Certification..........H-1 Exhibit I: Form of Trust Receipt and Final Certification............I-1 Exhibit J: Form of Request for Release..............................J-1 Exhibit K: Form of Transferor Certificate...........................K-1 Exhibit L-1: Form of Investment Letter..............................L-1-1 Exhibit L-2: Form of Rule 144A Letter...............................L-2-1 Exhibit M: Form of Investor Transfer Affidavit and Agreement........M-1 Exhibit N: Form of Transfer Certificate.............................N-1 Exhibit O: Form of SPS Mortgage Loans Report........................O-1 Exhibit P: Form of Foreclosure Settlement Statement...............P-1-1 Exhibit Q: Form of Monthly Statement to Certificateholders..........Q-1 Exhibit R: Form of Depositor Certification............................. Exhibit S: Form of Trust Administrator and Trustee Indemnification....113 Section 10.03.Designation Certification................S-1 Exhibit T-1: Form of REMIC(s). As provided in Section 10.03 Master Servicer Certification..................T-1-1 Exhibit T-2: Form of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Servicer Certification.........................T-2-1 SCHEDULES

CONCERNING THE TRUSTEE. 96 Section 113 8.01. Duties of Trustee....................................................96 Section the Trustee ......................................... 113 8.02. Certain Matters Affecting the Trustee................................97 Section Trustee ......................... 114 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section Loans ......... 116 8.04. Trustee May Own Certificates.........................................99 Section Certificates .................................. 116 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section Expenses ................................... 116 8.06. Indemnification and Expenses of Trustee ....................... 116 8.07. Eligibility Requirements for Trustee................................100 Section 8.07Trustee .......................... 117 ii PAGE 8.08. Resignation and Removal of the Trustee..............................101 Section 8.08Trustee ............................ 118 8.09. Successor Trustee...................................................102 Section 8.09Trustee ............................................. 118 8.10. Merger or Consolidation of Trustee..................................102 Section 8.10Trustee ............................ 119 8.11. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section Trustee ................. 119 8.12. Appointment of Office or Agency.....................................104 Tax Matters ................................................... 120 ARTICLE IX IX. TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section ................................................ 122 9.01. Optional Purchase by Termination upon Liquidation or Repurchase of all Mortgage Loans ......................................................... 122 9.02. Final Distribution on the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Certificates ........................ 123 9.03. Additional Termination Requirements.................................108 Section 9.03Requirements ........................... 124 ARTICLE X. MISCELLANEOUS PROVISIONS ................................... 125 10.01. Termination Amendment ..................................................... 125 10.02. Counterparts .................................................. 127 10.03. Governing Law ................................................. 127 10.04. Intention of Multiple REMICs......................................109 ARTICLE Parties .......................................... 127 10.05. Notices ....................................................... 128 10.06. Severability of Provisions .................................... 129 10.07. Assignment .................................................... 129 10.08. Limitation on Rights of Certificateholders .................... 130 10.09. Inspection and Audit Rights ................................... 131 10.10. Certificates Nonassessable and Fully Paid ..................... 131 10.11. Compliance with Regulation AB ................................. 131 EXHIBIT A FORMS OF CERTIFICATES EXHIBIT B MORTGAGE LOAN SCHEDULE EXHIBIT C [RESERVED] EXHIBIT D FORM OF TRUSTEE CERTIFICATION EXHIBIT E-1 FORM OF CLASS R TRANSFEREE'S LETTER AND AFFIDAVIT EXHIBIT E-2 FORM OF CLASS R TRANSFEROR'S AFFIDAVIT EXHIBIT F FORM OF TRANSFEROR CERTIFICATE EXHIBIT G FORM OF INVESTMENT LETTER (ACCREDITED INVESTOR) EXHIBIT H FORM OF RULE 144A LETTER (QUALIFIED INSTITUTIONAL BUYER) EXHIBIT I FORM OF REQUEST FOR RELEASE EXHIBIT J MLML LIST OF TRANSFER AGREEMENTS AND BRING DOWN LETTERS EXHIBIT K FORM OF BACK-UP CERTIFICATION OF TRUSTEE EXHIBIT L FORM OF OFFICER'S CERTIFICATE OF SERVICER EXHIBIT M-1 [RESERVED] EXHIBIT M-2 FORM OF MONTHLY REMITTANCE ADVICE EXHIBIT N-1 FORM OF CLASS A-1 CAP CONTRACT EXHIBIT N-2 FORM OF CLASS A-2 CAP CONTRACT EXHIBIT N-3 FORM OF SUBORDINATED CERTIFICATE CAP CONTRACT EXHIBIT O-1 ONE-MONTH LIBOR CAP TABLE - CLASS A-1 CAP CONTRACT EXHIBIT O-2 ONE-MONTH LIBOR CAP TABLE - CLASS A-2 CAP CONTRACT EXHIBIT O-3 ONE-MONTH LIBOR CAP TABLE - SUBORDINATED CERTIFICATE CAP CONTRACT EXHIBIT P FORM OF ASSESSMENT OF COMPLIANCE EXHIBIT Q FORM OF ASSESSMENT OF COMPLIANCE (CUSTODIAN) EXHIBIT R FORM OF XXXXXXXX-XXXXX CERTIFICATION EXHIBIT S FORM OF ITEM 1123 CERTIFICATION OF SERVICER EXHIBIT T FORM OF ADDITIONAL DISCLOSURE NOTIFICATION SCHEDULE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master ITEMS FOR FORM 8-K SCHEDULE Y ITEMS FOR FORM 10-D SCHEDULE Z ITEMS FOR FORM 10-K iv POOLING AND SERVICING AGREEMENT, dated as of January 1, 2006 (the "Agreement"), among XXXXXXX XXXXX MORTGAGE INVESTORS, INC., a Delaware corporation, as depositor (the "Depositor"), WILSHIRE CREDIT CORPORATION, a Nevada corporation, as servicer (the "Servicer"), REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sXXXXX FARGO BANK, N.A., a national banking association, as trustee (the "Trustee"). As provided The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of (i) two real estate mortgage investment conduits, (ii) the right to receive payments distributable to the Class P Certificates pursuant to Section 4.04(b)(i) hereof, (iii) the Cap Contracts and the Cap Contract Account, and (iv) the grantor trusts described in Section 10.03 2.07 hereof. The Lower Tier REMIC will consist of all of the Series Supplement 114 Section 10.04.Distributions on assets constituting the Uncertificated Trust Fund (other than the assets described in clauses (ii), (iii) and (iv) above and other than the Lower Tier REMIC I Regular Interests) and will be evidenced by the Lower Tier REMIC II Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC Regular Interests. As provided in Section 10.04 The Upper Tier REMIC will consist of the Series Supplement..............114Lower Tier REMIC Regular Interests and will be evidenced by the REMIC Regular Interests (which will represent the "regular interests" in the Upper Tier REMIC) and the Residual Interest as the single "residual interest" in the Upper Tier REMIC. The Class R Certificate will represent beneficial ownership of the Class LTR Interest and the Residual Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. All covenants and agreements made by the Transferors in the Transfer Agreements, the Sponsor in the Sale Agreement and by the Depositor and the Trustee herein with respect to the Mortgage Loans and the other property constituting the Trust Fund are for the benefit of the Holders from time to time of the Certificates. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee hereby agree as follows:

CONCERNING THE TRUSTEE. 96 Section 8.01123 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02....................................................................123 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03................................................125 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04................................126 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.........................................................126 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..........................................................127 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.................................................127 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08...................................................127 SECTION 9.08. Successor Trustee...................................................102 Section 8.09....................................................................128 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10...................................................128 SECTION 9.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11........................................129 SECTION 9.11. Office of the Trustee................................................................130 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR....................................................................131 SECTION 10.01. Duties of Trust Administrator........................................................131 SECTION 10.02. Certain Matters Affecting the Trust Administrator....................................132 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans....................134 SECTION 10.04. Trust Administrator May Own Certificates.............................................134 SECTION 10.05. Trust Administrator's Fees and Expenses..............................................134 SECTION 10.06. Eligibility Requirements for Trust Administrator.....................................135 SECTION 10.07. Resignation and Removal of Trust Administrator.......................................135 SECTION 10.08. Successor Trust Administrator........................................................136 SECTION 10.09. Merger or Consolidation of Trust Administrator.......................................137 SECTION 10.10. Appointment of Custodians...........................................103 Section 8.12Co-Trust Administrator or Separate Trust Administrator................137 SECTION 10.11. Appointment Office of Office the Trust Administrator....................................................138 SECTION 10.12. Tax Return...........................................................................138 SECTION 10.13. Commission Reporting.................................................................138 SECTION 10.14. Determination of Certificate Index...................................................141 ARTICLE XI TERMINATION..........................................................................................142 SECTION 11.01. Termination upon Liquidation or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01Purchase of all Mortgage Loans.......................142 SECTION 11.02. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination..................................................143 SECTION 11.03. Additional Termination Requirements.................................108 Section 9.03..................................................144 ARTICLE XII MISCELLANEOUS PROVISIONS............................................................................146 SECTION 12.01. Termination Amendment............................................................................146 SECTION 12.02. Recordation of Multiple REMICsAgreement; Counterparts...............................................148 SECTION 12.03. Governing Law........................................................................148 SECTION 12.04. Intention of Parties.................................................................148 SECTION 12.05. Notices..............................................................................149 SECTION 12.06. Severability of Provisions...........................................................150 SECTION 12.07. Limitation on Rights of Certificateholders...........................................150 SECTION 12.08. Certificates Nonassessable and Fully Paid............................................151 SECTION 12.09. Protection of Assets.................................................................151 SECTION 12.10. Non-Solicitation.....................................................................152 ARTICLE XIII SPS AND THE MASTER SERVICER........................................................................153 SECTION 13.01. Reports and Notices..................................................................153 SECTION 13.02. Master Servicer's Oversight With Respect to the SPS Mortgage Loans...................154 SECTION 13.03. Termination..........................................................................154 SECTION 13.04. Liability and Indemnification........................................................154 SECTION 13.05. Confidentiality......................................................................154 EXHIBITS Exhibit A: Form of Class A Certificate..........................................................A-1 Exhibit B: Form of Class B Certificate..........................................................B-1 Exhibit C: Form of Class X Certificate..........................................................C-1 Exhibit D-1: Form of Class AR Certificate.......................................................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.....................................................D-2-1 Exhibit E: Form of Class P Certificate..........................................................E-1 Exhibit F: Form of Servicer Information.........................................................F-1 Exhibit G: Form of Trust Receipt and Initial Certification......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master G-1 Exhibit H: Form of Trust Receipt and Final Certification........................................H-1 Exhibit I: Form of Request for Release..........................................................I-1 Exhibit J: Form of Transferor Certificate.......................................................J-1 Exhibit K-1: Form of Investment Letter..........................................................K-1-1 Exhibit K-2: Form of Rule 144A Letter...........................................................K-2-1 Exhibit L: Form of Investor Transfer Affidavit and Agreement....................................L-1 Exhibit M: Form of Transfer Certificate.........................................................M-1 Exhibit N: Form of SPS Mortgage Loans Report..................................................N-1-1 Exhibit O: Form of Foreclosure Settlement Statement.............................................O-1 Exhibit P: Form of Monthly Statement to Certificateholders......................................P-1 Exhibit Q: Form of Depositor Certification .....................................................Q-1 Exhibit R: Form of Trust Administrator Certification ...........................................R-1 Exhibit S-1: Form of Master Servicer Certification .............................................S-1-1 Exhibit S-2: Form of Servicer Certification ....................................................S-2-1 Exhibit T: Form of Certification Regarding Substitution of Defective Mortgage Loans ............T-1 SCHEDULES Schedule I: Mortgage Loan Schedule...............................................................I-1 Schedule IIA: Representations and Warranties of Seller - DLJMC...................................IIA-1 Schedule IIB: Representations and Warranties of Master Servicer - Wxxxx Fargo....................IIB-1 Schedule IIC: Representations and Warranties of Servicer - SPS...................................IIC-1 Schedule IID: Representations and Warranties of Servicer - Wxxxx Fargo...........................IID-1 Schedule IIE: Representations and Warranties of Special Servicer - Wilshire......................IIE-1 Schedule III: Representations and Warranties of DLJMC - Mortgage Loans...........................III-1 THIS POOLING AND SERVICING AGREEMENT, dated as of July 1, 2005, is hereby executed by and among CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP., as depositor (the “Depositor”), DLJ MORTGAGE CAPITAL, INC. (“DLJMC”), as seller (in such capacity, the “Seller”), WXXXX FARGO BANK, N.A., as master servicer (in such capacity, the “Master Servicer”), REMIC Administrator as a servicer (in such capacity, a “Servicer”), as back-up servicer (in such capacity, the “Back-Up Servicer”) and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sas trust administrator (in such capacity, the “Trust Administrator”), SELECT PORTFOLIO SERVICING, INC. (“SPS”), as a servicer (in such capacity, a “Servicer”), WILSHIRE CREDIT CORPORATION, as special servicer (in such capacity, the “Special Servicer”), and U.S. BANK NATIONAL ASSOCIATION, as trustee (in such capacity, the “Trustee”). As provided Capitalized terms used in Section 10.03 of this Agreement and not otherwise defined will have the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC meanings assigned to them in Article I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114below.

CONCERNING THE TRUSTEE. 96 Section 8.01156 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02........................................156 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03....................158 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04....................................................159 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.............................159 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..............................159 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.....................160 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08.......................160 SECTION 9.08. Successor Trustee...................................................102 Section 8.09........................................161 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10.......................161 SECTION 9.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11............162 SECTION 9.11. Office of the Trustee....................................163 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR...............................164 SECTION 10.01. Duties of Trust Administrator............................164 SECTION 10.02. Certain Matters Affecting the Trust Administrator........165 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans...........................................167 SECTION 10.04. Trust Administrator May Own Certificates.................167 SECTION 10.05. Trust Administrator's Fees and Expenses..................167 SECTION 10.06. Eligibility Requirements for Trust Administrator.........168 SECTION 10.07. Resignation and Removal of Trust Administrator...........168 SECTION 10.08. Successor Trust Administrator............................169 SECTION 10.09. Merger or Consolidation of Trust Administrator...........170 SECTION 10.10. Appointment of CustodiansCo-Trust Administrator or Separate Trust Administrator......................................170 SECTION 10.11. Office of the Trust Administrator........................171 SECTION 10.12. Tax Return...............................................171 SECTION 10.13. Commission Reporting.....................................171 SECTION 10.14. Determination of Certificate Index.......................174 ARTICLE XI TERMINATION.....................................................175 SECTION 11.01. Termination upon Liquidation or Purchase of all Mortgage Loans...........................................103 Section 8.12175 SECTION 11.02. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination......................176 SECTION 11.03. Additional Termination Requirements.................................108 Section 9.03......................177 ARTICLE XII MISCELLANEOUS PROVISIONS.......................................179 SECTION 12.01. Termination Amendment................................................179 SECTION 12.02. Recordation of Multiple REMICsAgreement; Counterparts...................181 SECTION 12.03. Governing Law............................................181 SECTION 12.04. Intention of Parties.....................................181 SECTION 12.05. Notices..................................................182 SECTION 12.06. Severability of Provisions...............................183 SECTION 12.07. Limitation on Rights of Certificateholders...............183 SECTION 12.08. Certificates Nonassessable and Fully Paid................184 SECTION 12.09. Protection of Assets.....................................184 SECTION 12.10. Non-Solicitation.........................................184 ARTICLE XIII SPS AND THE MASTER SERVICER...................................186 SECTION 13.01. Reports and Notices......................................109 ARTICLE 186 SECTION 13.02. Master Servicer's Oversight With Respect to the SPS Mortgage Loans.......................................187 SECTION 13.03. Termination..............................................187 SECTION 13.04. Liability and Indemnification............................187 SECTION 13.05. Confidentiality..........................................187 EXHIBITS Exhibit A: Form of Class A Certificate..............................A-1 Exhibit B: Form of Class 5-M Certificate............................B-1 Exhibit C: Form of Class C-B Certificate............................C-1 Exhibit D-1: Form of Class AR Certificate...........................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.........................D-2-1 Exhibit E: Form of Class P Certificate..............................E-1 Exhibit F: Form of Class 5-X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Certificate............................F-1 Exhibit G: Reserved.................................................G-1 Exhibit H: Form of Servicer Information.............................H-1 Exhibit I-1: Form of Trust Receipt and Initial Certification..........I-1 Exhibit I-2: Form of Trust Receipt and Subsequent Certification.......I-1 Exhibit J: Form of Trust Receipt and Final Certification............J-1 Exhibit K: Form of Request for Release..............................K-1 Exhibit L: Form of Transferor Certificate...........................L-1 Exhibit M-1: Form of Investment Letter..............................M-1-1 Exhibit M-2: Form of Rule 144A Letter...............................M-2-1 Exhibit N: Form of Investor Transfer Affidavit and Agreement........N-1 Exhibit O: Form of Transfer Certificate.............................O-1 Exhibit P: Form of SPS Mortgage Loans Report......................P-1-1 Exhibit Q: Form of Foreclosure Settlement Statement.................Q-1 Exhibit R: Form of Subsequent Transfer Agreement....................R-1 Exhibit S: Form of Monthly Statement to Certificateholders..........S-1 Exhibit T: Form of Depositor Certification .........................T-1 Exhibit U: Form of Trust Administrator and Trustee Indemnification....113 Section 10.03.Designation Certification ...............U-1 Exhibit V-1: Form of REMIC(s). As provided in Section 10.03 Master Servicer Certification .................V-1-1 Exhibit V-2: Form of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Servicer Certification ........................V-2-1 SCHEDULES

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 9.01 -- Duties and Responsibilities of Trustee....................................................96 Section 8.02. Certain Matters Affecting the .............. 30 SECTION 9.02 -- Reliance on Documents, Opinions, etc................ 31 SECTION 9.03 -- No Responsibility for Recitals, etc................. 32 SECTION 9.04 -- Trustee................................97 Section 8.03. Trustee Not Liable for Certificates , Authenticating Agent, Paying Agent or Mortgage Loans................99 Section 8.04. Trustee Registrar May Own Certificates.........................................99 Section 8.05. Master Servicer Notes............................. 32 SECTION 9.05 -- Moneys to Pay be Held in Trust.......................... 32 SECTION 9.06 -- Compensation and Expenses of Trustee's Fees ................ 32 SECTION 9.07 -- Officers' Certificate as Evidence................... 32 SECTION 9.08 -- Conflicting Interest of Trustee..................... 32 SECTION 9.09 -- Existence and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for of Trustee................................100 Section 8.07. ................ 33 SECTION 9.10 -- Resignation and or Removal of the Trustee..............................101 Section 8.08. ................... 33 SECTION 9.11 -- Appointment of Successor Trustee...................................................102 Section 8.09.................... 33 SECTION 9.12 -- Acceptance by Successor Trustee..................... 34 SECTION 9.13 -- Succession by Xxxxxx, etc........................... 34 SECTION 9.14 -- Limitations on Rights of Trustee as a Creditor...... 34 SECTION 9.15 -- Authenticating Agent................................ 35 ARTICLE TEN. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114CONCERNING THE NOTEHOLDERS

CONCERNING THE TRUSTEE. 96 Section 8.01. 8.1 Duties of Trustee....................................................96 ; Notice of Defaults.........................................................67 Section 8.02. 8.2 Certain Matters Affecting the Trustee................................97 .........................................................69 Section 8.03. 8.3 Trustee Not Liable for Recitals in Certificates or Mortgage Loans................99 Underlying Securities......................71 Section 8.04. 8.4 Trustee May Own Certificates.........................................99 ..................................................................71 Section 8.05. Master Servicer to Pay 8.5 Trustee's Fees and Expenses; Indemnification.99 Indemnification; Undertaking for Costs...........................71 Section 8.06. 8.6 Eligibility Requirements for Trustee................................100 ..........................................................72 Section 8.07. 8.7 Resignation and or Removal of the Trustee..............................101 .........................................................72 Section 8.08. 8.8 Successor Trustee...................................................102 .............................................................................73 Section 8.09. 8.9 Merger or Consolidation of Trustee..................................102 ............................................................73 Section 8.10. 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 .................................................74 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. 8.11 Appointment of Office or Agency.....................................104 ...............................................................75 Section 8.12 Representations and Warranties of Trustee.....................................................75 Section 8.13 Trustee to Act Only in Accordance With This Agreement or Pursuant to Instructions of Certificateholders............................................................................75 Section 8.14 Accounting and Reports to Certificateholders, Internal Revenue Service and Others.............75 Section 8.15 Signature on Returns..........................................................................76 Section 8.16 Grantor Trust Status..........................................................................76 -iii- ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114IX

CONCERNING THE TRUSTEE. 96 Section 8.0133 SECTION 7.01. Certain Duties and Responsibilities of Trustee...................................33 (a) Upon Event of Default............................................................33 (b) Negligence or Willful Misconduct by Trustee......................................34 SECTION 7.02. Certain Rights of Trustee........................................................35 (a) Trustee Reliance on Documents....................................................35 TABLE OF CONTENTS (Continued) Page ---- (b) Evidence Provided for Certain Instruments.......................................35 (c) Trustee may Consult with Counsel and Act on Advice or Opinion of Counsel........35 (d) Trustee may Require Indemnity from Securityholders..............................35 (e) Trustee not Liable for Actions in Good Faith Believed to be Authorized..........35 (f) Trustee not Bound to Investigate Facts or Matters...............................35 (g) Trustee may Perform Duties Directly or through Agents or Attorneys..............36 (h) Permissive Rights of Trustee....................................................96 Section 8.0236 SECTION 7.03. Certain Matters Affecting the Limitations in Liability of Trustee................................97 Section 8.03. .............................................36 (a) Trustee Not not Liable for Certificates Recitals in Indenture or Mortgage Loansin Securities...................36 (b) No Representations by Trustee as to Validity or Indenture or of Securities......36 (c) Trustee not Accountable for Use of Securities or Proceeds.......................36 SECTION 7.04. Trustee, Paying Agent or Security Registrar may Own Securities..................36 SECTION 7.05. Monies Received by Trustee to be Held in Trust without Interest.................36 SECTION 7.06. Compensation and Reimbursement of Trustee.......................................36 (a) Trustee Entitled to Compensation, Reimbursement and Indemnity...................37 (b) Obligations to Trustee to be Secured by Lien prior to Securities................99 Section 8.0437 (c) Nature of Expenses..............................................................37 (d) Survival of Obligations.........................................................37 SECTION 7.07. Trustee May Own Certificates.........................................99 Section 8.05Rely on Certificate of Officers of Company..........................37 SECTION 7.08. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06Trustee Must Eliminate Conflict or Resign.......................................37 SECTION 7.09. Eligibility Requirements for Eligibility of Trustee................................100 Section 8.07.........................................38 SECTION 7.10. Trustee.........................................................................38 (a) Resignation of Trustee and Appointment of Successor.............................38 (b) Removal of the Trustee..............................101 Section 8.08Trustee by Company or by Court on Securityholders' Application.......38 (c) Removal of Trustee by Holders of Majority in Principal Amount of Securities.....39 (d) Time when Resignation or Removal of Trustee Effective...........................39 (e) One Trustee for each Series.....................................................39 SECTION 7.11. Successor Trustee...................................................102 Section 8.09...............................................................39 (a) Acceptance by Successor Trustee.................................................39 (b) Trustee with Respect to Less than all Series....................................40 (c) Company to Confirm Trustee's Rights.............................................40 (d) Successor Trustee to be Qualified...............................................40 (e) Notice of Succession............................................................40 SECTION 7.12. Merger or Successor to Trustee by Merger, Consolidation of Trustee..................................102 Section 8.10Succession to Business.........41 TABLE OF CONTENTS (Continued) Page ---- SECTION 7.13. Appointment Limitations on Rights of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment as a Creditor to Obtain Payment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Certain Claims..........................................................................41

CONCERNING THE TRUSTEE. 96 Section 107 SECTION 8.01. Duties of the Trustee....................................................96 Section .................................................. 107 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section .................................. 108 SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section .................................. 109 TABLE OF CONTENTS (continued) SECTION 8.04. Trustee May Own Certificates.........................................99 Section ........................................... 109 SECTION 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section ............................................ 110 SECTION 8.06. Indemnification of Trustee............................................. 110 SECTION 8.07. Eligibility Requirements for Trustee................................100 Section 8.07................................... 111 SECTION 8.08. Resignation and Removal of the Trustee..............................101 Section 8.08..................................... 111 SECTION 8.09. Successor Trustee...................................................102 Section 8.09...................................................... 112 SECTION 8.10. Merger or Consolidation of Trustee..................................102 Section 8.10..................................... 112 SECTION 8.11. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section .......................... 112 SECTION 8.12. Appointment of Office or Agency.....................................104 Tax Matters............................................................ 113 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section TERMINATION.................................................................................. 116 SECTION 9.01. Optional Purchase by Termination upon Liquidation or Repurchase of all Mortgage Loans....... 116 SECTION 9.02. Final Distribution on the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02................................. 117 SECTION 9.03. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .................................... 118 ARTICLE X REMIC MISCELLANEOUS PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master ..................................................................... 119 SECTION 10.01. Amendment.............................................................. 119 SECTION 10.02. Counterparts........................................................... 121 SECTION 10.03. Governing Law.......................................................... 121 SECTION 10.04. Intention of Parties................................................... 121 SECTION 10.05. Notices................................................................ 121 SECTION 10.06. Severability of Provisions............................................. 122 SECTION 10.07. Assignment; Advance Facility........................................... 122 SECTION 10.08. Limitation on Rights of Certificateholders............................. 123 SECTION 10.09. Inspection and Audit Rights............................................ 124 SECTION 10.10. Certificates Nonassessable and Fully Paid.............................. 124 SECTION 10.11. Third Party Rights..................................................... 125 SECTION 10.12. Additional Rights of the NIMs Insurer.................................. 125 TABLE OF CONTENTS (continued) EXHIBIT A FORMS OF CERTIFICATES EXHIBIT B-1 MORTGAGE LOAN SCHEDULE - MORTGAGE POOL EXHIBIT B-2 MORTGAGE LOAN SCHEDULE - GROUP ONE MORTGAGE LOANS EXHIBIT B-3 MORTGAGE LOAN SCHEDULE - GROUP TWO MORTGAGE LOANS EXHIBIT C [RESERVED] EXHIBIT D FORM OF TRUSTEE CERTIFICATION EXHIBIT E-1 FORM OF TRANSFEREE'S LETTER AND AFFIDAVIT EXHIBIT E-2 FORM OF TRANSFEROR'S AFFIDAVIT EXHIBIT F FORM OF TRANSFEROR CERTIFICATE EXHIBIT G FORM OF INVESTMENT LETTER (ACCREDITED INVESTOR) EXHIBIT H FORM OF RULE 144A INVESTMENT LETTER (QUALIFIED INSTITUTIONAL BUYER) EXHIBIT I FORM OF REQUEST FOR RELEASE EXHIBIT J [RESERVED] EXHIBIT K FORM OF OFFICER'S CERTIFICATE OF TRUSTEE EXHIBIT L FORM OF OFFICER'S CERTIFICATE OF SERVICER EXHIBIT M [RESERVED] EXHIBIT N-1 FORM OF CLASS A-1 CAP CONTRACT EXHIBIT N-2 FORM OF CLASS A-2 CAP CONTRACT EXHIBIT N-3 FORM OF SUBORDINATED CERTIFICATE CAP CONTRACT EXHIBIT O-1 ONE-MONTH LIBOR CAP TABLE - CLASS A-1 CAP CONTRACT EXHIBIT O-2 ONE MONTH LIBOR CAP TABLE - CLASS A-2 CAP CONTRACT EXHIBIT O-3 ONE MONTH LIBOR CAP TABLE - SUBORDINATED CERTIFICATE CAP CONTRACT EXHIBIT P SCHEDULE OF INTERIM SERVICED LOANS POOLING AND SERVICING AGREEMENT (the "Agreement"), dated as of May 1, 2005, among XXXXXXX XXXXX MORTGAGE INVESTORS, INC., a Delaware corporation, as depositor (the "Depositor"), XXXXX FARGO BANK, N.A, a national banking association, as trustee (the "Trustee") and WILSHIRE CREDIT CORPORATION, a Nevada corporation, as servicer (the "Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s"). As provided The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of (i) two real estate mortgage investment conduits in a tiered structure, (ii) the right to receive payments distributable to the Class P Certificates pursuant to Section 4.04(b)(i) hereof, (iii) each Cap Contract and the Cap Contract Account and (iv) the grantor trusts described in Section 10.03 2.07 hereof. The Lower Tier REMIC will consist of all of the Series Supplement 114 Section 10.04.Distributions on assets constituting the Uncertificated Trust Fund (other than the assets described in clauses (ii), (iii) and (iv) above and the Lower Tier REMIC I Regular Interests) and will be evidenced by the Lower Tier REMIC II Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC Regular Interests. As provided in Section 10.04 The Upper Tier REMIC will consist of the Series Supplement..............114Lower Tier REMIC Regular Interests and will be evidenced by the REMIC Regular Interests (which will represent the "regular interests" in the Upper Tier REMIC) and the Residual Interest as the single "residual interest" in the Upper Tier REMIC. The Class R Certificate will represent beneficial ownership of the Class LTR Interest and the Residual Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. All covenants and agreements made by the Seller in the Sale Agreement and by the Depositor and the Trustee herein with respect to the Mortgage Loans and the other property constituting the Trust Fund are for the benefit of the Holders from time to time of the Certificates and, to the extent provided herein, the NIMs Insurer. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee hereby agree as follows:

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................105 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................106 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans............................107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of July 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARTICLE XII COMPLIANCE WITH RXXXXXXXXN AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Section 12.05.Indemnificatixx; Xxxxxxxx...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 46- Section 7.01. Duties and Responsibilities of Trustee........................-46- Section 7.02. Reliance on Documents, Opinions, etc..........................-48- Section 7.03. No Responsibility for Recitals, etc...........................-49- Section 7.04. Ownership of Securities or Coupons............................-49- Section 7.05. Moneys to Be Held in Trust....................................-49- Section 7.06. Compensation and Expenses of Trustee..........................-49- Section 7.07. Officer's Certificate as Evidence.............................-50- Section 7.08. Conflicting Interest of Trustee...............................-50- Section 7.09. Eligibility of Trustee........................................-57- Section 7.10. Resignation or Removal of Trustee.............................-58- Section 7.11. Acceptance by Successor Trustee..............................-59- Section 7.12. Successor by Merger, etc......................................-61- Section 7.13. Limitations on Rights of Trustee as Creditor..................-61- ARTICLE EIGHT - CONCERNING THE SECURITYHOLDERS..............................-66- Section 8.01. Duties of Trustee....................................................96 Action by Securityholders.....................................-66- Section 8.02. Certain Matters Affecting the Trustee................................97 Proof of Execution by Securityholders.........................-66- Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Who Are Deemed Absolute Owners................................-68- Section 8.04. Trustee May Own Certificates.........................................99 Company-owned Securities Disregarded..........................-68- Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRevocation of Consents; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or AgencyFuture Securityholders Bound.......................................-68- ARTICLE NINE- SECURITYHOLDERS' MEETINGS.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 -69- Section 9.01. Optional Purchase by the Master Servicer Purposes of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Meetings..........................................-69- Section 9.02. Additional Termination Requirements.................................108 Call of Meetings by Trustee...................................-69- Section 9.03. Termination Call of Multiple REMICsMeetings by Company or Securityholders................-70- Section 9.04. Qualification for Voting......................................109 -71- Section 9.05. Regulations...................................................-71- Section 9.06. Voting........................................................-72- ARTICLE X REMIC PROVISIONS........................................................110 TEN - SUPPLEMENTAL INDENTURES.......................................-72- Section 10.01.REMIC Administration................................................110 10.01. Supplemental Indentures without Consent of Securityholders............................................-72- Section 10.02.Master Servicer10.02. Supplemental Indentures with Consent of Securityholders............................................-74- Section 10.03. Compliance with Trust Indenture Act; Effect of Supplemental Indentures....................................-76- Section 10.04. Notation on Securities.......................................-76- ARTICLE ELEVEN - CONSOLIDATION, REMIC Administrator MERGER, -iii- CONVEYANCE, TRANSFER OR LEASE...............................................-77- Section 11.01. Company May Consolidate, etc., Only on Certain Terms......................................-77- Section 11.02. Successor Corporation Substituted...........................-78- ARTICLE TWELVE - SATISFACTION AND DISCHARGE OF INDENTURE UNCLAIMED MONEYS............................................................-78- Section 12.01. Discharge of Indenture.......................................-78- Section 12.02. Deposited Moneys to Be Held in Trust by Trustee..............-79- Section 12.03. Paying Agent to Repay Moneys Held............................-80- Section 12.04. Return of Unclaimed Moneys...................................-80- ARTICLE THIRTEEN - DEFEASANCE AND COVENANT DEFEASANCE.......................-80- Section 13.01. Applicability of Article; Company's Option to Effect Defeasance or Covenant Defeasance...................-80- Section 13.02. Defeasance and Trustee Indemnification....113 Discharge.....................................-81- Section 10.03.Designation 13.03. Covenant Defeasance..........................................-81- Section 13.04. Conditions to Defeasance or Covenant Defeasance........................................-82- Section 13.05. Deposited Money and Government Obligations to be Held in Trust; Other Miscellaneous Provisions...................................-84- ARTICLE FOURTEEN - SUBORDINATION............................................-85- Section 14.01. Agreement to Subordinate.....................................-85- Section 14.02. No Payment on Securities if Senior Indebtedness in Default....................................-85- Section 14.03. Distribution on Acceleration of REMIC(s)Securities; Dissolution and Reorganization; Subrogation of Securities..................................-87- Section 14.04. As provided in Reliance by Senior Indebtedness on Subordination Provisions...................................-91- Section 10.03 of the Series Supplement 114 14.05. Trustee's Relation to Senior Indebtedness....................-91- Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests14.06. As provided in Section 10.04 of the Series Supplement..............114Other Provisions Subject Hereto..............................-92-

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARTICLE XXX COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Xxxxxxx 00.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 Section 8.01. 9.1 Certain Rights and Duties of Trustee....................................................96 .................................... 114 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. 9.2 Trustee Not Liable Responsible for Recitals, Etc............................... 117 Section 9.3 Trustee and Others May Hold Bonds....................................... 117 Section 9.4 Moneys held by Trustee or Paying Agent; Investments..................... 117 Section 9.5 Compensation of Trustee and Its Lien.................................... 117 Section 9.6 Right of Trustee to Rely on Officer's Certificates or Mortgage Loans................99 and Opinions of Counsel............................................................ 118 Section 8.04. Trustee May Own Certificates.........................................99 9.7 Persons Eligible for Appointment As Trustee............................. 119 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. 9.8 Resignation and Removal of the Trustee..............................101 ; Appointment of Successor............ 119 Section 8.08. 9.9 Acceptance of Appointment by Successor Trustee...................................................102 .......................... 120 Section 8.09. Merger 9.10 Merger, Conversion or Consolidation of Trustee..................................102 .......................... 121 Section 8.10. 9.11 Maintenance of Offices and Agencies..................................... 122 Section 9.12 Trustee Risk............................................................ 124 Section 9.13 Appointment of Co-Trustee............................................... 124 Section 9.14 Disqualification; Conflicting Interests................................. 125 Section 9.15 Reports by Trustee...................................................... 131 Section 9.16 Limitation on Duty of Trustee or Separate Trustee.......................102 in Respect of Collateral.................. 131 Section 8.11. Appointment 9.17 No Liability for Clean-up of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Hazardous Materials........................ 132

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................105 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...........................................................107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests.......................................................................116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of November 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 33 Section 8.01. 9.1 Certain Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal Responsibilities of the Trustee..............................101 .........................................33 Section 8.08. Successor Trustee...................................................102 9.2 Notice of Defaults.........................................................................34 Section 8.09. Merger or Consolidation 9.3 Certain Rights of Trustee..................................102 ..................................................................35 Section 8.10. 9.4 Trustee Not Responsible for Recitals, etc..................................................36 Section 9.5 May Hold Debentures........................................................................36 Section 9.6 Moneys Held in Trust.......................................................................36 Section 9.7 Compensation and Reimbursement.............................................................36 Section 9.8 Reliance on Officers' Certificate..........................................................37 Section 9.9 Disqualification: Conflicting Interests...................................................37 Section 9.10 Corporate Trustee Required; Eligibility....................................................37 Section 9.11 Resignation and Removal; Appointment of Co-Trustee Successor..........................................38 Section 9.12 Acceptance of Appointment by Successor.....................................................39 Section 9.13 Merger, Conversion, Consolidation or Separate Trustee.......................102 Succession to Business................................39 Section 8.11. Appointment 9.14 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE Claims Against the Company......................................40 TABLE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 CONTENTS (continued) Page ARTICLE X REMIC PROVISIONS........................................................110 CONCERNING THE DEBENTUREHOLDERS............................................................40 Section 10.01.REMIC Administration................................................110 10.1 Evidence of Action by Holders..............................................................40 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 10.2 Proof of Execution by Debentureholders.....................................................40 Section 10.03.Designation of REMIC(s). As provided in 10.3 Who May be Deemed Owners...................................................................41 Section 10.03 of the Series Supplement 114 10.4 Certain Debentures Owned by Company Disregarded............................................41 Section 10.04.Distributions 10.5 Actions Binding on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Future Debentureholders.................................................41

CONCERNING THE TRUSTEE. 96 30 Section 8.01. 7.1 Duties and Responsibilities of Trustee....................................................96 ....................30 Section 8.02. Certain Matters Affecting the 7.2 Reports by Trustee to Holders.............................31 Section 7.3 Reliance on Documents, Opinions, Etc......................31 Section 7.4 No Responsibility for Recitals, Etc.......................33 Section 7.5 Trustee................................97 Section 8.03. Trustee Not Liable for Certificates , Paying Agents, Conversion Agents or Mortgage Loans................99 Section 8.04. Trustee Registrar May Own Certificates.........................................99 Notes.............................................33 Section 8.05. Master Servicer 7.6 Monies to Pay Be Held in Trust................................33 Section 7.7 Compensation and Expenses of Trustee's Fees and Expenses; Indemnification.99 ......................33 Section 8.06. 7.8 Officers'Certificate as Evidence..........................33 Section 7.9 Conflicting Interests of Trustee..........................34 Section 7.10 Eligibility Requirements for of Trustee................................100 ....................................34 Section 8.07. 7.11 Resignation and or Removal of the Trustee..............................101 .........................34 Section 8.08. 7.12 Acceptance by Successor Trustee...................................................102 ...........................35 Section 8.09. Merger or Consolidation 7.13 Successor, by Merger, Etc.................................36 Section 7.14 Limitation on Rights of Trustee..................................102 Trustee as Creditor...............36 CONCERNING THE NOTEHOLDERS..............................................36 Section 8.10. Appointment 8.1 Action by Noteholders.....................................36 Section 8.2 Proof of CoExecution by Noteholders.........................37 Section 8.3 Who Are Deemed Absolute Owners............................37 Section 8.4 Company-Trustee or Separate Trustee.......................102 Owned Notes Disregarded...........................37 Section 8.11. Appointment 8.5 Revocation of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 Consents, Future Holders Bound..............38 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114NOTEHOLDERS'MEETINGS....................................................38

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 ....................................................................98 Section 8.02. Certain Matters Affecting the Trustee................................97 ................................................99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............................101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification................101 Section 8.06. Eligibility Requirements for Trustee................................100 ................................................102 Section 8.07. Resignation and Removal of the Trustee..............................101 ..............................................103 Section 8.08. Successor Trustee...................................................102 ...................................................................104 Section 8.09. Merger or Consolidation of Trustee..................................102 ..................................................104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .......................................105 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................................106 Section 8.12. Appointment of Office or Agency.....................................104 .....................................................106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 .....................................107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans................107 Section 9.02. Additional Termination Requirements.................................108 .................................................110 Section 9.03. Termination of Multiple REMICs......................................109 ......................................................111 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................112 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ................................................................112 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ....................115 Section 10.03.Designation 10.03. Designation of REMIC(s)REMIC(s).............................................................116 Section 10.04. As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Distributions on the Uncertificated REMIC I and REMIC II Regular Interests..........116 Section 10.05. As provided in Compliance with Withholding Requirements............................................116 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................117 Section 10.04 11.01. Amendment...........................................................................117 Section 11.02. Recordation of Agreement; Counterparts..............................................119 Section 11.03. Limitation on Rights of Certificateholders..........................................120 Section 11.04. Governing Law.......................................................................120 Section 11.05. Notices.............................................................................121 Section 11.06. Required Notices to Rating Agency and Subservicer...................................121 Section 11.07. Severability of Provisions..........................................................122 Section 11.08. Supplemental Provisions for Resecuritization........................................122 Section 11.09. Allocation of Voting Rights.........................................................122 Section 11.10. No Petition.........................................................................122 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................123 Section 12.01. Intent of the Parties; Reasonableness...............................................123 Section 12.02. Additional Representations and Warranties of the Trustee............................123 Section 12.03. Information to Be Provided by the Trustee...........................................124 Section 12.04. Report on Assessment of Compliance and Attestation..................................124 Section 12.05. Indemnification; Remedies...........................................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of July 1, 2007 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 98 Section 8.01. Duties of Trustee....................................................96 98 Section 8.02. Certain Matters Affecting the Trustee................................97 99 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...............101 Section 8.04. Trustee May Own Certificates.........................................99 ........................................101 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.................................................101 Section 8.06. Eligibility Requirements for Trustee................................100 102 Section 8.07. Resignation and Removal of the Trustee..............................101 103 Section 8.08. Successor Trustee...................................................102 104 Section 8.09. Merger or Consolidation of Trustee..................................102 104 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 104 Section 8.11. Appointment of Custodians...........................................103 the Custodian........................................105 Section 8.12. Appointment of Office or Agency.....................................104 106 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 107 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans...............................107 Section 9.02. Additional Termination Requirements.................................108 110 Section 9.03. Termination of Multiple REMICs......................................109 111 ARTICLE X REMIC PROVISIONS........................................................110 112 Section 10.01.REMIC Administration................................................110 112 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 115 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 REMIC(s).............................................116 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in .......................................................116 Section 10.04 10.05.Compliance with Withholding Requirements............................116 ARTICLE XI MISCELLANEOUS PROVISIONS................................................117 Section 11.01.Amendment...........................................................117 Section 11.02.Recordation of Agreement; Counterparts..............................119 Section 11.03.Limitation on Rights of Certificateholders..........................120 Section 11.04.Governing Law.......................................................120 Section 11.05.Notices.............................................................121 Section 11.06.Required Notices to Rating Agency and Subservicer...................121 Section 11.07.Severability of Provisions..........................................122 Section 11.08.Supplemental Provisions for Resecuritization........................122 Section 11.09.Allocation of Voting Rights.........................................122 Section 11.10.No Petition.........................................................122 ARXXXXX XXI COMPLIANCE WITH REGULATION AB...........................................123 Section 12.01.Intent of the Parties; Reasonableness...............................123 Section 12.02.Additional Representations and Warranties of the Trustee............123 Section 12.03.Information to Be Provided by the Trustee...........................124 Section 12.04.Report on Assessment of Compliance and Attestation..................124 Xxxxxxn 12.05.Indemnification; Remedies...........................................125 EXHIBITS Exhibit A: Form of Class A Certificate Exhibit A-I: Form of Class X Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit C-I: Form of Class P Certificate Exhibit C-II: Form of Class SB Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria This is the Standard Terms of Pooling and Servicing Agreement, dated as of December 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement..............114Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee").

CONCERNING THE TRUSTEE. 96 49 Section 8.01. 8.01 Duties of Trustee....................................................96 ................................................................49 Section 8.02. 8.02 Certain Matters Affecting the Trustee................................97 ............................................49 Section 8.03. 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 ............................49 Section 8.04. 8.04 Trustee May Own Certificates.........................................99 .....................................................49 Section 8.05. 8.05 Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification..............49 Section 8.06. 8.06 Eligibility Requirements for Trustee................................100 .............................................49 Section 8.07. 8.07 Resignation and Removal of the Trustee..............................101 ...........................................49 Section 8.08. 8.08 Successor Trustee...................................................102 ................................................................49 Section 8.09. 8.09 Merger or Consolidation of Trustee..................................102 ...............................................49 Section 8.10. 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 ....................................49 Section 8.11. 8.11 Appointment of Custodians...........................................103 ........................................................49 Section 8.12. 8.12 Appointment of Office or Agency.....................................104 ..................................................49 Section 8.13 Preparation of Form W-9..........................................................49 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ......................................51 Section 9.01. 9.01 Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans........51 Section 9.02. 9.02 Additional Termination Requirements.................................108 ..............................................51 Section 9.03. 9.03 Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...................................................51

CONCERNING THE TRUSTEE. 96 Section 8.01. 113 SECTION 9.01 Duties of Trustee....................................................96 Section 8.02. ....................................................................113 SECTION 9.02 Certain Matters Affecting the Trustee................................97 Section 8.03. ................................................115 SECTION 9.03 Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. ................................116 SECTION 9.04 Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay .........................................................117 SECTION 9.05 Trustee's Fees and Expenses; Indemnification.99 Section 8.06. ..........................................................117 SECTION 9.06 Eligibility Requirements for Trustee................................100 Section 8.07. .................................................117 SECTION 9.07 Resignation and Removal of the Trustee..............................101 Section 8.08. ...................................................118 SECTION 9.08 Successor Trustee...................................................102 Section 8.09. ....................................................................119 SECTION 9.09 Merger or Consolidation of Trustee..................................102 Section 8.10. ...................................................119 SECTION 9.10 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. ........................................119 SECTION 9.11 Office of the Trustee................................................................121 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR..............................................................................121 SECTION 10.01 Duties of Trust Administrator........................................................121 SECTION 10.02 Certain Matters Affecting the Trust Administrator....................................123 SECTION 10.03 Trust Administrator Not Liable for Certificates or Mortgage Loans....................124 SECTION 10.04 Trust Administrator May Own Certificates.............................................125 SECTION 10.05 Trust Administrator's Fees and Expenses..............................................125 SECTION 10.06 Eligibility Requirements for Trust Administrator.....................................126 SECTION 10.07 Resignation and Removal of Trust Administrator.......................................126 SECTION 10.08 Successor Trust Administrator........................................................127 SECTION 10.09 Merger or Consolidation of Trust Administrator.......................................127 SECTION 10.10 Appointment of Custodians...........................................103 Section 8.12. Appointment of Co-Trust Administrator or Separate Trust Administrator................128 SECTION 10.11 Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 Trust Administrator....................................................129 SECTION 10.12 Tax Return...........................................................................129 SECTION 10.13 Filings..............................................................................129 SECTION 10.14 Determination of the Series Supplement..............114Certificate Index...................................................130

CONCERNING THE TRUSTEE. 96 3 Section 8.01. Duties of Trustee....................................................96 .................................................................3 Section 8.02. Certain Matters Affecting the Trustee................................97 .............................................3 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 .............................3 Section 8.04. Trustee May Own Certificates.........................................99 ......................................................3 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification...............3 Section 8.06. Eligibility Requirements for Trustee................................100 ..............................................3 Section 8.07. Resignation and Removal of the Trustee..............................101 ............................................3 Section 8.08. Successor Trustee...................................................102 .................................................................3 Section 8.09. Merger or Consolidation of Trustee..................................102 ................................................3 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 .....................................3 Section 8.11. Appointment of Custodians...........................................103 .........................................................3 Section 8.12. Appointment of Office or Agency.....................................104 ...................................................3 Section 8.13. DTC Letter of Representations.....................................................3 Section 8.14. Yield Maintenance Agreement.......................................................3 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION...........................................................................................3 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans....................3 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114...............................................3

CONCERNING THE TRUSTEE. 96 156 Section 8.019.01. Duties of Trustee....................................................96 ...............................................................156 Section 8.029.02. Certain Matters Affecting the Trustee................................97 ...........................................158 Section 8.039.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................159 Section 8.049.04. Trustee May Own Certificates.........................................99 ....................................................160 Section 8.059.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................................160 Section 8.069.06. Eligibility Requirements for Trustee................................100 ............................................160 Section 8.079.07. Insurance.......................................................................160 Section 9.08. Resignation and Removal of the Trustee..............................101 ..........................................161 Section 8.089.09. Successor Trustee...................................................102 ...............................................................161 Section 8.099.10. Merger or Consolidation of Trustee..................................102 ..............................................162 Section 8.109.11. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................162 Section 8.119.12. Appointment of Custodians...........................................103 Section 8.12Federal Information Returns and Reports to Certificateholders; REMIC Administration............................................................163 ARTICLE X TERMINATION..............................................................................166 Xxxxxxx 00.00. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Xxxxxxxxxxx Xxxx Xxxxxxxxxx by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or its Designee or Liquidation of All the Mortgage Loans105 Loans............................................166 Section 9.0210.02. Additional Termination Requirements.................................108 .............................................168 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................169 Section 9.0311.01. Termination Intent of Multiple REMICsParties...............................................................169 Section 11.02. Amendment.......................................................................170 Section 11.03. Recordation of Agreement........................................................171 Section 11.04. Limitation on Rights of Certificateholders......................................109 ARTICLE 171 Section 11.05. Acts of Certificateholders......................................................172 Section 11.06. Governing Law...................................................................173 Section 11.07. Notices.........................................................................173 Section 11.08. Severability of Provisions......................................................173 Section 11.09. Successors and Assigns..........................................................174 Section 11.10. Article and Section Headings....................................................174 Section 11.11. Counterparts....................................................................174 Section 11.12. Notice to Rating Agencies.......................................................174 Section 11.13. Use of Subservicers and Subcontractors..........................................174 -iii- TABLE OF CONTENTS (continued) EXHIBITS Exhibit A-1 - Form of Class A Certificate Exhibit A-2 - Reserved Exhibit A-3 - Form of Class I-B Certificate Exhibit A-4 - Form of Class II-B-1, Class II-B-2, Class II-B-3, Class II-B-4 and Class II-B-5 Certificates Exhibit A-5 - Form of Class II-B-6 Certificate Exhibit A-6 - Form of Class B-IO Certificate Exhibit A-7 - Form of Class R Certificate Exhibit A-8 - Form of Class R-X REMIC PROVISIONS........................................................110 Certificate Exhibit A-9 - Form of Class X Certificate Exhibit A-10 - Form of Class XP Certificate Exhibit B - Mortgage Loan Schedule Exhibit C - Reserved Exhibit D - Request for Release of Documents Exhibit E - Form of Affidavit pursuant to Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer860E(e)(4) Exhibit F-1 - Form of Investment Letter (Non-Rule 144A) Exhibit F-2 - Form of Rule 144A Investment Representation Exhibit F-3 - Form of Transferor Representation Letter Exhibit G - Form of Custodial Agreement Exhibit H - Form of Mortgage Loan Purchase Agreement Exhibit I - Form of Trustee Limited Power of Attorney Exhibit J - Reserved Exhibit K - Loan Level Format for Tape Input, REMIC Administrator Servicer Period Reporting Exhibit L - Reporting Data for Defaulted Loans Exhibit M - Reserved Exhibit N - Form of Corridor Contracts Exhibit O - Reserved Exhibit P - Servicing Criteria to be Addressed in Assessment of Compliance Exhibit Q-1 - Form of Servicer Back-Up Certification Exhibit Q-2 - Form of Trustee Back-Up Certification Exhibit R - Form 10-D, Form 8-K and Trustee Indemnification....113 Section 10.03.Designation Form 10-K Reporting Responsibility Exhibit S - Additional Disclosure Information SCHEDULES Schedule A - Coupon Strip Reserve Account Schedule -iv- POOLING AND SERVICING AGREEMENT Pooling and Servicing Agreement dated as of REMIC(sMarch 1, 2007, among Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor"). As provided in Section 10.03 , Xxxxx Fargo Bank, National Association, a banking association organized under the laws of the Series Supplement 114 Section 10.04.Distributions on United States, not in its individual capacity but solely as trustee (the Uncertificated REMIC I "Trustee") and REMIC II Regular Interests. As provided EMC Mortgage Corporation, as servicer (in Section 10.04 of such capacity, the Series Supplement..............114"Servicer"), as company (in such capacity, the "Company" or "EMC") and, as sponsor (in such capacity, the "Sponsor").

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. .......................25 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. ............................................26 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities.......27 SECTION 7.04 May Hold Securities..................................................27 SECTION 7.05 Moneys Held in Trust.................................................27 SECTION 7.06 Compensation and Reimbursement.......................................28 SECTION 7.07 Reliance on Officers' Certificate....................................28 SECTION 7.08 Disqualification; Conflicting Interests..............................28 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility..............................29 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor....................29 SECTION 7.11 Acceptance of Appointment By Successor...............................30 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business..........31 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company................32 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Action by the Master Servicer Securityholders................................32 SECTION 8.02 Proof of All Certificates; Termination Upon Purchase Execution by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Securityholders................................33 SECTION 8.03 Who May be Deemed Owners.............................................33 SECTION 8.04 Certain Securities Owned by Company Disregarded......................33 -iii-

CONCERNING THE TRUSTEE. 96 Section 104 SECTION 8.01. Duties of Trustee....................................................96 Section .......................................................... 104 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section ...................................... 105 SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section ...................................... 106 SECTION 8.04. Trustee May Own Certificates.........................................99 Section ............................................... 107 SECTION 8.05. Master Servicer to Pay Trustee's Fees and Fees............................................................. 107 SECTION 8.06. Indemnification of Trustee; Expenses; Indemnification.99 Section 8.06....................................... 107 SECTION 8.07. Eligibility Requirements for Trustee................................100 Section 8.07....................................... 108 SECTION 8.08. Resignation and Removal of the Trustee..............................101 Section 8.08......................................... 108 SECTION 8.09. Successor Trustee...................................................102 Section 8.09.......................................................... 109 SECTION 8.10. Merger or Consolidation of Trustee..................................102 Section 8.10......................................... 109 SECTION 8.11. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section .............................. 109 SECTION 8.12. Appointment of Office or Agency.....................................104 Tax Matters................................................................ 111 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section TERMINATION.............................................................................. 113 SECTION 9.01. Optional Purchase by Termination upon Liquidation or Repurchase of all Mortgage Loans........... 113 SECTION 9.02. Final Distribution on the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02..................................... 114 SECTION 9.03. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ........................................ 115 ARTICLE X REMIC MISCELLANEOUS PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master ................................................................. 116 TABLE OF CONTENTS (continued) PAGE SECTION 10.01. Amendment.................................................................. 116 SECTION 10.02. Counterparts............................................................... 118 SECTION 10.03. Governing Law.............................................................. 118 SECTION 10.04. Intention of Parties....................................................... 118 SECTION 10.05. Notices.................................................................... 119 SECTION 10.06. Severability of Provisions................................................. 119 SECTION 10.07. Assignment................................................................. 120 SECTION 10.08. Limitation on Rights of Certificateholders................................. 120 SECTION 10.09. Inspection and Audit Rights................................................ 120 SECTION 10.10. Certificates Nonassessable and Fully Paid.................................. 121 SECTION 10.11. Third Party Rights......................................................... 121 SECTION 10.12. [RESERVED]................................................................. 121 SECTION 10.13. [RESERVED]................................................................. 121 SECTION 10.14. Assignment; Sales; Advance Facilities...................................... 121 EXHIBIT A FORMS OF OFFERED CERTIFICATES AND CLASS B-4 CERTIFICATES EXHIBIT B-1 MORTGAGE LOAN SCHEDULE - MORTGAGE POOL EXHIBIT B-2 MORTGAGE LOAN SCHEDULE - GROUP ONE MORTGAGE LOANS EXHIBIT B-3 MORTGAGE LOAN SCHEDULE - GROUP TWO MORTGAGE LOANS EXHIBIT C MI MORTGAGE LOANS EXHIBIT D FORM OF TRUSTEE CERTIFICATION EXHIBIT E-1 FORM OF TRANSFEREE'S LETTER AND AFFIDAVIT EXHIBIT E-2 FORM OF TRANSFEROR'S AFFIDAVIT EXHIBIT F FORM OF TRANSFEROR CERTIFICATE FOR CLASS P, CLASS C AND CLASS B-4 CERTIFICATES EXHIBIT G FORM OF INVESTMENT LETTER EXHIBIT H FORM OF RULE 144A INVESTMENT LETTER EXHIBIT I REQUEST FOR RELEASE OF DOCUMENTS EXHIBIT J FORM OF POWER OF ATTORNEY EXHIBIT K FORM OF OFFICER'S CERTIFICATE OF TRUSTEE EXHIBIT L FORM OF OFFICER'S CERTIFICATE OF SERVICER EXHIBIT M [RESERVED] EXHIBIT N FORM OF AUCTION PROCEDURES EXHIBIT O-1 FORM OF CLASS A-1 CAP CONTRACT EXHIBIT O-2 FORM OF CLASS A-2 CAP CONTRACT EXHIBIT O-3 FORM OF SUBORDINATED CERTIFICATE CONTRACT EXHIBIT P-1 ONE MONTH LIBOR CAP TABLE - A-1 CAP CONTRACT EXHIBIT P-2 ONE MONTH LIBOR CAP TABLE - A-2 CAP CONTRACT EXHIBIT P-3 ONE MONTH LIBOR CAP TABLE - SUBORDINATED CERTIFICATE CAP CONTRACT POOLING AND SERVICING AGREEMENT, dated as of September 1, 2005, among MERRILL LYNCH MORTGAGE INVESTORS, INC., a Delaware corporation, as xxxxxxxox (xxe "Depositor"), WILSHIRE CREDIT CORPORATION, a Nevada corporation, as servicer (the "Servicer") and JPMORGAN CHASE BANK, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sN.A., a national banking association, as trustee (the "Trustee"). As provided The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of (i) two real estate mortgage investment conduits in a tiered structure, (ii) the right to receive the payments distributable to the Class P Certificates pursuant to Section 4.04(b)(i) hereof, (iii) the grantor trusts described in Section 10.03 2.07 hereof and (iv) each Cap Contract and the Cap Contract Account. The Lower Tier REMIC will consist of all of the Series Supplement 114 Section 10.04.Distributions on assets constituting the Uncertificated Trust Fund (other than the assets described in clauses (ii), (iii) and (iv) above and the Lower Tier REMIC I Regular Interests) and will be evidenced by the Lower Tier REMIC II Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC Regular Interests. As provided in Section 10.04 The Upper Tier REMIC will consist of the Series Supplement..............114Lower Tier REMIC Regular Interests and will be evidenced by the REMIC Regular Interests (which will represent the "regular interests" in the Upper Tier REMIC) and the Residual Interest as the single "residual interest" in the Upper Tier REMIC. The Class R Certificate will represent beneficial ownership of the Class LTR Interest and the Residual Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. All covenants and agreements made by the Seller in the Sale Agreement and by the Depositor and the Trustee herein with respect to the Mortgage Loans and the other property constituting the Trust Fund are for the benefit of the Holders from time to time of the Certificates. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee hereby agree as follows:

CONCERNING THE TRUSTEE. 96 111- Section 8.01. 8.1 Duties of Trustee....................................................96 ...............................................................-111- Section 8.02. 8.2 Certain Matters Affecting the Trustee................................97 ...............................................-113- Section 8.03. 8.3 Trustee Not Required to Make Investigation......................................-114- Section 8.4 Trustee Not Liable for Certificates or Mortgage Loans................99 ....................................-114- Section 8.04. 8.5 Trustee May Own Certificates.........................................99 ....................................................-115- Section 8.05. Master 8.6 Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................-115- Section 8.06. 8.7 Eligibility Requirements for Trustee................................100 ............................................-116- Section 8.07. 8.8 Resignation and Removal of the Trustee..............................101 ..............................................-116- Section 8.08. 8.9 Successor Trustee...................................................102 ...............................................................-117- Section 8.09. 8.10 Merger or Consolidation of Trustee..................................102 ..............................................-117- Section 8.10. 8.11 Appointment of Co-Trustee or Separate Trustee.......................102 ...................................-118- Section 8.11. 8.12 Appointment of Custodians...........................................103 .......................................................-119- Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 8.13 Authenticating Agent............................................................-119- Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 8.14 Bloomberg.......................................................................-120- Section 9.02. Additional Termination Requirements.................................108 8.15 Reports to Securities and Exchange Commission...................................-120- Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............1148.16 [Reserved]......................................................................-120-

CONCERNING THE TRUSTEE. 96 54 Section 8.01. Duties 10.1 Acceptance of the Trusts............................................... 54 Section 10.2 Acceptance of Trusts by Credit Facility Trustee....................................................96 ........................ 55 Section 8.02. Certain Matters Affecting the Trustee................................97 10.3 Trustee or Credit Facility Trustee to Give Notice...................... 56 Section 8.03. 10.4 Trustee and The Credit Facility Trustee Entitled to Indemnity.......... 57 Section 10.5 Trustee nor Credit Facility Trustee Responsible for Insurance, Taxes, Execution of Indenture, Acts of Issuer or Application of Moneys Applied in Accordance with Indenture................................... 58 Section 10.6 Compensation........................................................... 59 Section 10.7 Trustee to Preserve Records............................................ 59 Section 10.8 Trustee or Credit Facility Trustee May Be a Bondholder................. 59 Section 10.9 Trustee and Credit Facility Trustee Not Liable Responsible for Certificates Recitals....... 59 Section 10.10 No Responsibility for Recording or Mortgage Loans................99 Filing.............................. 59 Section 8.04. 10.11 Trustee and Credit Facility Trustee May Own Require Information............ 60 Section 10.12 Trustee and Credit Facility Trustee May Rely on Certificates.........................................99 ........... 60 Section 8.05. Master Servicer to Pay 10.13 Trustee or Credit Facility Trustee Bond................................ 60 Section 10.14 Segregation of Funds; Interests........................................ 60 Section 10.15 Qualification of the Trustee and the Credit Facility Trustee's Fees and Expenses; Indemnification.99 ........... 60 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. 10.16 Resignation and Removal of the Trustee or Credit Facility Trustee..............................101 ...... 61 Section 8.08. 10.17 Successor Trustee...................................................102 Trustee or Credit Facility Trust............................. 62 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of 10.18 Co-Trustee or Separate Trustee.......................102 ............................................................. 63 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............11410.19 Notice to Moodx'x xx S&P............................................... 64

CONCERNING THE TRUSTEE. 96 Section 14 SECTION 8.01. Duties of Trustee....................................................96 Section DUTIES OF THE TRUSTEE............................................................14 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section CERTAIN MATTERS AFFECTING THE TRUSTEE............................................14 SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS............................14 SECTION 8.04. Trustee May Own Certificates.........................................99 Section TRUSTEE MAY OWN CERTIFICATES.....................................................14 SECTION 8.05. Master Servicer to Pay Trustee's Fees and ExpensesMASTER SERVICER TO PAY TRUSTEE'S FEES AND EXPENSES; Indemnification.99 Section INDEMNIFICATION..............14 SECTION 8.06. Eligibility Requirements for Trustee................................100 Section ELIGIBILITY REQUIREMENTS FOR TRUSTEE.............................................14 SECTION 8.07. Resignation and Removal of the Trustee..............................101 Section RESIGNATION AND REMOVAL OF THE TRUSTEE...........................................14 SECTION 8.08. Successor Trustee...................................................102 Section SUCCESSOR TRUSTEE................................................................14 SECTION 8.09. Merger or Consolidation of Trustee..................................102 Section MERGER OR CONSOLIDATION OF TRUSTEE...............................................14 SECTION 8.10. Appointment of CoAPPOINTMENT OF CO-Trustee or Separate Trustee.......................102 Section TRUSTEE OR SEPARATE TRUSTEE....................................14 SECTION 8.11. Appointment of Custodians...........................................103 Section APPOINTMENT OF CUSTODIANS........................................................14 SECTION 8.12. Appointment of Office or Agency.....................................104 APPOINTMENT OF OFFICE OR AGENCY..................................................14 ARTICLE IX TERMINATION OR TERMINATION..........................................................................................14 SECTION 9.01. OPTIONAL PURCHASE BY THE MASTER SERVICER OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114TERMINATION UPON PURCHASE BY THE MASTER SERVICER OR LIQUIDATION OF ALL MORTGAGE LOANS.............................14

CONCERNING THE TRUSTEE. 96 Section 8.01168 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02........................................168 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03....................170 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04....171 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.............................171 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..............................171 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.....................172 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08.......................172 SECTION 9.08. Successor Trustee...................................................102 Section 8.09........................................173 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10.......................173 SECTION 9.10. Appointment of Co Trustee or Separate Trustee............174 SECTION 9.11. Office of the Trustee....................................175 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR...............................176 SECTION 10.01. Duties of Trust Administrator............................176 SECTION 10.02. Certain Matters Affecting the Trust Administrator........177 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans........................................179 SECTION 10.04. Trust Administrator May Own Certificates.................179 SECTION 10.05. Trust Administrator's Fees and Expenses..................179 SECTION 10.06. Eligibility Requirements for Trust Administrator.........180 SECTION 10.07. Resignation and Removal of Trust Administrator...........180 SECTION 10.08. Successor Trust Administrator............................181 SECTION 10.09. Merger or Consolidation of Trust Administrator...........182 SECTION 10.10. Appointment of Co-Trustee Trust Administrator or Separate TrusteeTrust Administrator............................................182 SECTION 10.11. Office of the Trust Administrator........................183 SECTION 10.12. Tax Return...............................................183 SECTION 10.13. Commission Reporting.....................................183 SECTION 10.14. Determination of Certificate Index.......................102 Section 8.11186 ARTICLE XI TERMINATION.....................................................187 SECTION 11.01. Appointment Termination upon Liquidation or Purchase of Custodians...........................................103 Section 8.12all Mortgage Loans.................................187 SECTION 11.02. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination......................188 SECTION 11.03. Additional Termination Requirements.................................108 Section 9.03......................189 ARTICLE XII MISCELLANEOUS PROVISIONS.......................................191 SECTION 12.01. Termination Amendment................................................191 SECTION 12.02. Recordation of Multiple REMICsAgreement; Counterparts...................193 SECTION 12.03. Governing Law............................................193 SECTION 12.04. Intention of Parties.....................................193 SECTION 12.05. Notices..................................................194 SECTION 12.06. Severability of Provisions...............................195 SECTION 12.07. Limitation on Rights of Certificateholders...............195 SECTION 12.08. Certificates Nonassessable and Fully Paid................196 SECTION 12.09. Protection of Assets.....................................196 SECTION 12.10. Non-Solicitation.........................................196 ARTICLE XIII SPS AND THE MASTER SERVICER...................................198 SECTION 13.01. Reports and Notices......................................109 ARTICLE 198 SECTION 13.02. Master Servicer's Oversight With Respect to the SPS Mortgage Loans.......................................199 SECTION 13.03. Termination..............................................199 SECTION 13.04. Liability and Indemnification............................199 SECTION 13.05. Confidentiality..........................................199 EXHIBITS Exhibit A: Form of Class A Certificate..............................A-1 Exhibit B: Form of Class 7-M Certificate............................B-1 Exhibit C: Form of Class C-B Certificate............................C-1 Exhibit D: Form of Class AR Certificate.............................D-1 Exhibit E: Form of Class AR-L Certificate...........................E-1 Exhibit F: Form of Class 7-X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Certificate............................F-1 Exhibit G: Form of Class C-B-1X Certificate.........................G-1 Exhibit H: Form of Servicer Information.............................H-1 Exhibit I-1: Form of Trust Receipt and Initial Certification........I-1-1 Exhibit I-2: Form of Trust Receipt and Subsequent Certification.....I-2-1 Exhibit J: Form of Trust Receipt and Final Certification............J-1 Exhibit K: Form of Request for Release..............................K-1 Exhibit L: Form of Transferor Certificate...........................L-1 Exhibit M-1: Form of Investment Letter..............................M-1-1 Exhibit M-2: Form of Rule 144A Letter...............................M-2-1 Exhibit N: Form of Investor Transfer Affidavit and Agreement........N-1 Exhibit O: Form of Transfer Certificate.............................O-1 Exhibit P: Form of SPS Mortgage Loans Report......................P-1-1 Exhibit Q: Form of Foreclosure Settlement Statement.................Q-1 Exhibit R: Form of Subsequent Transfer Agreement....................R-1 Exhibit S: Form of Monthly Statement to Certificateholders..........S-1 Exhibit T: Form of Depositor Certification .........................T-1 Exhibit U: Form of Trust Administrator and Trustee Indemnification....113 Section 10.03.Designation Certification ...............U-1 Exhibit V-1: Form of REMIC(s). As provided in Section 10.03 Master Servicer Certification .................V-1-1 Exhibit V-2: Form of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Servicer Certification ........................V-2-1 SCHEDULES

CONCERNING THE TRUSTEE. 96 212 Section 8.01. 8.01 Duties of the Trustee....................................................96 ...........................................................212 Section 8.02. 8.02 Certain Matters Affecting the Trustee................................97 ...........................................213 Section 8.03. 8.03 Trustee Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans................99 ..................................................................215 Section 8.04. 8.04 Trustee May Own Certificates.........................................99 ....................................................215 Section 8.05. Master Servicer to Pay Trustee's 8.05 Fees and ExpensesExpenses of Trustee; Indemnification.99 Indemnification of Trustee........................215 Section 8.06. 8.06 Eligibility Requirements for Trustee................................100 ............................................216 Section 8.07. 8.07 Resignation and Removal of the Trustee..............................101 ..........................................217 Section 8.08. 8.08 Successor Trustee...................................................102 ...............................................................217 Section 8.09. 8.09 Merger or Consolidation of Trustee..................................102 ..............................................218 Section 8.10. 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 ...................................218 Section 8.11. 8.11 Appointment of Custodians...........................................103 .......................................................219 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 8.12 Access to Certain Information...................................................220 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator 8.13 Representations and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 Warranties of the Series Supplement 114 Trustee...................................221 Section 10.04.Distributions on 8.14 Filings with the Uncertificated REMIC I Securities and REMIC II Regular Interests. As provided in Exchange Commission.............................222 Section 10.04 of the Series Supplement..............1148.15 Serviced Companion Loan Paying Agent............................................224 Section 8.16 Serviced Companion Loan Holder Register.........................................225

CONCERNING THE TRUSTEE. 96 Section 8.01SECTION 5.01. Duties and Responsibilities of the Trustee....................................................96 Section 8.02; During Default; Prior to Default.............................27 SECTION 5.02. Certain Matters Affecting Rights of the Trustee................................97 Section 8.03............................................................................28 SECTION 5.03. Trustee Not Liable Responsible for Certificates Recitals, Disposition of Securities or Mortgage Loans................99 Section 8.04Application of Proceeds Thereof.......30 SECTION 5.04. Trustee and Agents May Own Certificates.........................................99 Section 8.05Hold Securities; Collections, etc.................................................30 SECTION 5.05. Master Servicer Moneys Held by Trustee...................................................................................30 SECTION 5.06. Notice of Default........................................................................................31 SECTION 5.07. Compensation and Indemnification of Trustee and Its Prior Claim..........................................31 SECTION 5.08. Right of Trustee to Pay Rely on Officers' Certificate, etc...................................................32 SECTION 5.09. Persons Eligible for Appointment as Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07..............................................................32 SECTION 5.10. Resignation and Removal Removal; Appointment of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09................................................32 SECTION 5.11. Merger Acceptance of Appointment by Successor Trustee...........................................................34 SECTION 5.12. Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee..................................102 Section 8.10...................................34 SECTION 5.13. Appointment Preferential Collection of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Claims........................................................................35 ii 4

CONCERNING THE TRUSTEE. 96 139 Section 8.019.01. Duties of Trustee....................................................96 ...............................................................139 Section 8.029.02. Certain Matters Affecting the Trustee................................97 ...........................................141 Section 8.039.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................142 Section 8.049.04. Trustee May Own Certificates.........................................99 ....................................................143 Section 8.059.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................................143 Section 8.069.06. Eligibility Requirements for Trustee................................100 ............................................143 Section 8.079.07. Insurance.......................................................................143 Section 9.08. Resignation and Removal of the Trustee..............................101 ..........................................144 Section 8.089.09. Successor Trustee...................................................102 ...............................................................144 Section 8.099.10. Merger or Consolidation of Trustee..................................102 ..............................................145 Section 8.109.11. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................145 Section 8.119.12. Appointment of Custodians...........................................103 Section 8.12Federal Information Returns and Reports to Certificateholders; REMIC Administration..................................................................146 ARTICLE X TERMINATION..............................................................................149 Xxxxxxx 00.00. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Xxxxxxxxxxx Xxxx Xxxxxxxxxx by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or its Designee or Liquidation of All the Mortgage Loans105 Loans...............................................149 Section 9.0210.02. Additional Termination Requirements.................................108 .............................................151 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................153 Section 9.0311.01. Termination Intent of Multiple REMICsParties...............................................................153 Section 11.02. Amendment.......................................................................153 Section 11.03. Recordation of Agreement........................................................154 Section 11.04. Limitation on Rights of Certificateholders......................................109 ARTICLE 154 Section 11.05. Acts of Certificateholders......................................................155 Section 11.06. Governing Law...................................................................156 Section 11.07. Notices.........................................................................156 Section 11.08. Severability of Provisions......................................................157 Section 11.09. Successors and Assigns..........................................................157 Section 11.10. Article and Section Headings....................................................157 Section 11.11. Counterparts....................................................................157 Section 11.12. Notice to Rating Agencies.......................................................157 Section 11.13. Use of Subservicers and Subcontractors..........................................158 EXHIBITS Exhibit A-1 - Form of Class A Certificates Exhibit A-2 - [Reserved] Exhibit A-3 - Form of Class B Certificates Exhibit A-4 - Form of Class B-IO Certificates Exhibit A-5 - Form of Class R Certificates Exhibit A-6 - Form of Class R-X REMIC PROVISIONS........................................................110 Certificate Exhibit A-7 - Form of Class X Certificate Exhibit A-8 - Form of Class XP Certificate Exhibit B - Mortgage Loan Schedule Exhibit C - [Reserved] Exhibit D - Request for Release of Documents Exhibit E - Form of Affidavit pursuant to Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer860E(e)(4) Exhibit F-1 - Form of Investment Letter (Non-Rule 144A) Exhibit F-2 - Form of Rule 144A Investment Representation Exhibit F-3 - Form of Transferor Representation Letter Exhibit G - Form of Custodial Agreement Exhibit H - Form of Mortgage Loan Purchase Agreement Exhibit I - Form of Trustee Limited Power of Attorney Exhibit J - [Reserved] Exhibit K - Loan Level Format for Tape Input, REMIC Administrator Servicer Period Reporting Exhibit L - Reporting Data for Defaulted Loans Exhibit M - [Reserved] Exhibit N - Form of Cap Contracts Exhibit O - Servicing Criteria to be Addressed in Assessment of Compliance Exhibit P-1 - Form of Servicer Back-Up Certification Exhibit P-2 - Form of Trustee Back-Up Certification Exhibit Q - Form 10-D, Form 8-K and Trustee Indemnification....113 Section 10.03.Designation Form 10-K Reporting Responsibility Exhibit R - Additional Disclosure Information Exhibit S - Form of REMIC(sServicer Certification SCHEDULES Schedule A - Coupon Strip Reserve Account Schedule POOLING AND SERVICING AGREEMENT Pooling and Servicing Agreement dated as of July 1, 2006, among Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor"). As provided in Section 10.03 , Xxxxx Fargo Bank, National Association, a banking association organized under the laws of the Series Supplement 114 Section 10.04.Distributions on United States, not in its individual capacity but solely as trustee (the Uncertificated REMIC I "Trustee") and REMIC II Regular Interests. As provided EMC Mortgage Corporation, as servicer (in Section 10.04 of such capacity, the Series Supplement..............114"Servicer"), as company (in such capacity, the "Company" or "EMC") and, as sponsor (in such capacity, the "Sponsor").

CONCERNING THE TRUSTEE. 96 Section 8.01. 119 SECTION 8.01 Duties of Trustee....................................................96 Section 8.02. .............................................................................119 SECTION 8.02 Certain Matters Affecting the Trustee................................97 Section 8.03. .........................................................121 SECTION 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. .........................................122 SECTION 8.04 Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay ..................................................................122 SECTION 8.05 Trustee's Fees and Expenses; Indemnification.99 Section 8.06. ...................................................................123 SECTION 8.06 Eligibility Requirements for Trustee................................100 Section 8.07. ..........................................................123 SECTION 8.07 Resignation and Removal of the Trustee..............................101 Section 8.08. ........................................................124 SECTION 8.08 Successor Trustee...................................................102 Section 8.09. .............................................................................125 SECTION 8.09 Merger or Consolidation of Trustee..................................102 Section 8.10. ............................................................125 SECTION 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. .................................................125 SECTION 8.11 Trustee to Execute Custodial Agreement and Swap Agreement.....................................126 SECTION 8.12 Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator ...............................................................126 SECTION 8.13 Representations and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 Warranties of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 Trustee.................................................127 SECTION 8.14 Appointment of the Series Supplement..............114Custodian..................................................................

CONCERNING THE TRUSTEE. 96 Section 8.01159 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02........................................159 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03....................161 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04....................................................162 SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.............................162 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..............................163 SECTION 9.06. Eligibility Requirements for Trustee................................100 Section 8.07.....................163 SECTION 9.07. Resignation and Removal of the Trustee..............................101 Section 8.08.......................163 SECTION 9.08. Successor Trustee...................................................102 Section 8.09........................................164 SECTION 9.09. Merger or Consolidation of Trustee..................................102 Section 8.10.......................165 SECTION 9.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11............165 SECTION 9.11. Office of the Trustee....................................166 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR.............................167 SECTION 10.01. Duties of Trust Administrator............................167 SECTION 10.02. Certain Matters Affecting the Trust Administrator........168 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans...........................................170 SECTION 10.04. Trust Administrator May Own Certificates.................170 SECTION 10.05. Trust Administrator's Fees and Expenses..................170 SECTION 10.06. Eligibility Requirements for Trust Administrator.........171 SECTION 10.07. Resignation and Removal of Trust Administrator...........171 SECTION 10.08. Successor Trust Administrator............................172 SECTION 10.09. Merger or Consolidation of Trust Administrator...........173 SECTION 10.10. Appointment of CustodiansCo-Trust Administrator or Separate Trust Administrator......................................173 SECTION 10.11. Office of the Trust Administrator........................174 SECTION 10.12. Tax Return...............................................174 SECTION 10.13. Commission Reporting.....................................174 SECTION 10.14. Determination of Certificate Index.......................177 ARTICLE XI TERMINATION...................................................178 SECTION 11.01. Termination upon Liquidation or Purchase of all Mortgage Loans...........................................103 Section 8.12178 SECTION 11.02. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Procedure Upon Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02Termination......................179 SECTION 11.03. Additional Termination Requirements......................180 ARTICLE XII MISCELLANEOUS PROVISIONS.....................................182 SECTION 12.01. Amendment................................................182 SECTION 12.02. Recordation of Agreement; Counterparts...................184 SECTION 12.03. Governing Law............................................184 SECTION 12.04. Intention of Parties.....................................184 SECTION 12.05. Notices..................................................185 SECTION 12.06. Severability of Provisions...............................186 SECTION 12.07. Limitation on Rights of Certificateholders...............186 SECTION 12.08. Certificates Nonassessable and Fully Paid................187 SECTION 12.09. Protection of Assets.....................................187 SECTION 12.10. Non-Solicitation.........................................187 ARTICLE XIII SPS AND THE MASTER SERVICER.................................108 Section 9.03189 SECTION 13.01. Termination Reports and Notices......................................189 SECTION 13.02. Master Servicer's Oversight With Respect to the SPS Mortgage Loans.......................................190 SECTION 13.03. Termination..............................................190 SECTION 13.04. Liability and Indemnification............................190 SECTION 13.05. Confidentiality..........................................190 EXHIBITS Exhibit A: Form of Multiple REMICs......................................109 ARTICLE Class A Certificate..............................A-1 Exhibit B: Form of Class 5-M Certificate............................B-1 Exhibit C: Form of Class C-B Certificate............................C-1 Exhibit D-1: Form of Class AR Certificate...........................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.........................D-2-1 Exhibit E: Form of Class P Certificate..............................E-1 Exhibit F: Form of Class 5-X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Certificate............................F-1 Exhibit G: Form of Class C-B-1X Certificate.........................G-1 Exhibit H: Form of Servicer Information.............................H-1 Exhibit I: Form of Trust Receipt and Initial Certification..........I-1 Exhibit J: Form of Trust Receipt and Final Certification............J-1 Exhibit K: Form of Request for Release..............................K-1 Exhibit L: Form of Transferor Certificate...........................L-1 Exhibit M-1: Form of Investment Letter..............................M-1-1 Exhibit M-2: Form of Rule 144A Letter...............................M-2-1 Exhibit N: Form of Investor Transfer Affidavit and Agreement........N-1 Exhibit O: Form of Transfer Certificate.............................O-1 Exhibit P: Form of SPS Mortgage Loans Report......................P-1-1 Exhibit Q: Form of Foreclosure Settlement Statement.................Q-1 Exhibit R: [Reserved]...............................................R-1 Exhibit S: Form of Monthly Statement to Certificateholders..........S-1 Exhibit T: Form of Depositor Certification .........................T-1 Exhibit U: Form of Trust Administrator and Trustee Indemnification....113 Section 10.03.Designation Certification ...............U-1 Exhibit V-1: Form of REMIC(s). As provided in Section 10.03 Master Servicer Certification .................V-1-1 Exhibit V-2: Form of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Servicer Certification ........................V-2-1 SCHEDULES

CONCERNING THE TRUSTEE. 96 Section 8.01.........................................................................25 SECTION 7.01. Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02..............................................25 (a) Upon Event of Default..............................................................................25 (b) Negligence or Willful Misconduct by Trustee........................................................25 SECTION 7.02. Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. ...................................................................25 (a) Trustee Not Reliance on Documents......................................................................26 (b) Evidence Provided for Certain Instruments..........................................................26 (c) Trustee may Consult with Counsel and Act on Advice or Opinion of Counsel...........................26 (d) Trustee may Require Indemnity from Securityholders.................................................26 (e) Trustee not Liable for Certificates Actions in Good Faith Believed to be Authorized.............................26 (f) Trustee not Bound to Investigate Facts or Mortgage Loans................99 Section 8.04Matters..................................................26 (g) Trustee may Perform Duties Directly or through Agents or Attorneys.................................26 (h) Permissive Rights of Trustee.......................................................................26 SECTION 7.03. Limitations in Liability of Trustee.........................................................26 (a) Trustee not Liable for Recitals in Indenture or in Securities......................................27 (b) No Representations by Trustee as to Validity or Indenture or of Securities.........................27 (c) Trustee not Accountable for Use of Securities or Proceeds..........................................27 SECTION 7.04. Trustee, Paying Agent or Security Registrar may Own Securities..............................27 SECTION 7.05. Monies Received by Trustee to be Held in Trust without Interest.............................27 SECTION 7.06. Compensation and Reimbursement of Trustee...................................................27 (a) Trustee Entitled to Compensation, Reimbursement and Indemnity......................................27 (b) Obligations to Trustee to be Secured by Lien prior to Securities...................................27 (c) Nature of Expenses.................................................................................27 (d) Survival of Obligations............................................................................27 SECTION 7.07. Trustee May Own Certificates.........................................99 Section 8.05Rely on Certificate of Officers of Company......................................28 SECTION 7.08. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06Trustee Must Eliminate Conflict or Resign...................................................28 SECTION 7.09. Eligibility Requirements for Eligibility of Trustee................................100 Section 8.07.....................................................28 SECTION 7.10. Trustee.....................................................................................28 (a) Resignation of Trustee and Appointment of Successor................................................28 (b) Removal of Trustee by Company or by Court on Securityholders' Application..........................28 (c) Removal of Trustee by Holders of Majority in Principal Amount of Securities........................29 (d) Time when Resignation or Removal of Trustee Effective..............................................29 (e) One Trustee for each Series........................................................................29 (f) Removal of Trustee by the Trustee..............................101 Section 8.08Company..................................................................29 SECTION 7.11. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation ...........................................................................29 (a) Acceptance by Successor Trustee....................................................................29 (b) Trustee with Respect to Less than all Series.......................................................29 (c) Company to Confirm Trustee's Rights................................................................30 (d) Successor Trustee to be Qualified..................................................................30 (e) Notice of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE Succession...............................................................................30 TABLE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sCONTENTS (continued). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 6.01 Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal Responsibilities of the Trustee..............................101 Section 8.08. ; During Default; Prior to Default...............................................................................35 SECTION 6.02 Certain Rights of the Trustee.........................................................37 SECTION 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof.......................................................38 SECTION 6.04 Trustee and Agents May Hold Securities or Coupons; Collections, etc...................38 SECTION 6.05 Moneys Held by Trustee................................................................38 SECTION 6.06 Compensation and Indemnification of Trustee and Its Prior Claim.......................38 SECTION 6.07 Right of Trustee to Rely on Officer's Certificate, etc................................39 SECTION 6.08 Right of Trustee to Seek Instruction from Court.......................................39 SECTION 6.09 Indentures Not Creating Potential Conflicting Interests for the Trustee...............39 SECTION 6.10 Persons Eligible for Appointment as Trustee...........................................39 SECTION 6.11 Resignation and Removal; Appointment of Successor Trustee...................................................102 Section 8.09. Merger .............................40 SECTION 6.12 Acceptance of Appointment by Successor Trustee........................................41 SECTION 6.13 Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee................42 SECTION 6.14 Preferential Collection of Claims Against the Issuer..................................102 Section 8.10. 42 SECTION 6.15 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Authenticating Agent...................................................43

CONCERNING THE TRUSTEE. 96 Section 8.01SECTION 5.01. Duties and Responsibilities of the Trustee....................................................96 Section 8.02; During Default; Prior to Default .....................................................................................28 SECTION 5.02. Certain Matters Affecting Rights of the Trustee................................97 Section 8.03...................................................29 SECTION 5.03. Trustee Not Liable Responsible for Certificates Recitals, Disposition of Securities or Mortgage Loans................99 Section 8.04Application of Proceeds Thereof.........................................30 SECTION 5.04. Trustee and Agents May Own Certificates.........................................99 Section 8.05Hold Securities; Collections, etc........................31 SECTION 5.05. Master Servicer Moneys Held by Trustee..........................................................31 SECTION 5.06. Notice of Default...............................................................31 SECTION 5.07. Compensation and Indemnification of Trustee and Its Prior Claim...........................................................................31 SECTION 5.08. Right of Trustee to Pay Rely on Officers' Certificate, etc..........................32 SECTION 5.09. Persons Eligible for Appointment as Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07.....................................32 SECTION 5.10. Resignation and Removal Removal; Appointment of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09...............................................................................33 SECTION 5.11. Merger Acceptance of Appointment by Successor Trustee..................................34 SECTION 5.12. Merger, Conversion, Consolidation or Consolidation Succession to Business of Trustee..................................102 Section 8.10...................................................................35 SECTION 5.13. Appointment Preferential Collection of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Claims...............................................35

CONCERNING THE TRUSTEE. 96 50 Section 8.01. 8.01 Duties of Trustee....................................................96 . (See Section 8.02. 8.01 of the Standard Terms).....................50 Section 8.02 Certain Matters Affecting the Trustee................................97 . (See Section 8.03. 8.02 of the Standard Terms)...........................................................................50 Section 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 . (See Section 8.04. 8.03 of the Standard Terms)...........................................................50 Section 8.04 Trustee May Own Certificates.........................................99 . (See Section 8.05. 8.04 of the Standard Terms)..........50 Section 8.05 Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification. (See Section 8.06. 8.05 of the Standard Terms).........................................50 Section 8.06 Eligibility Requirements for Trustee................................100 . (See Section 8.07. 8.06 of the Standard Terms)...........................................................................50 Section 8.07 Resignation and Removal of Trustee. (See Section 8.07 of the Trustee..............................101 Standard Terms)...........................................................................50 Section 8.08. 8.08 Successor Trustee...................................................102 ................................................................50 Section 8.09. 8.09 Merger or Consolidation of Trustee..................................102 . (See Section 8.10. 8.09 of the Standard Terms)...........................................................................51 Section 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 . (See Section 8.11. 8.10 of the Standard Terms)..................................................................51 Section 8.11 Appointment of Custodians...........................................103 Custodian.........................................................51 Section 8.12. 8.12 Appointment of Office or Agency.....................................104 . (See Section 8.12 of the Standard Terms)...........................................................................51 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 ......................................52 Section 9.01. 9.01 Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans........52 Section 9.02. 9.02 Additional Termination Requirements.................................108 . (See Section 9.03. 9.02 of the Standard Terms)...........................................................................53 Section 9.03 Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 . (See Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 9.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Standard Terms)........53

CONCERNING THE TRUSTEE. 96 Section 167 SECTION 8.01. Duties of Trustee....................................................96 Section ..........................................167 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section ..........................168 SECTION 8.03. Trustee Not Liable for Validity or Sufficiency of Certificates or Mortgage Loans................99 Section .........................169 SECTION 8.04. Trustee May Own Certificates.........................................99 Section ...............................170 SECTION 8.05. Master Servicer to Pay Trustee's Fees and ExpensesExpenses of Trustee; Indemnification.99 Section Indemnification of Trustee................................................170 SECTION 8.06. Eligibility Requirements for Trustee................................100 Section .......................171 SECTION 8.07. Resignation and Removal of the Trustee..............................101 Section .........................172 SECTION 8.08. Successor Trustee...................................................102 Section ..........................................173 SECTION 8.09. Merger or Consolidation of Trustee..................................102 Section .........................173 SECTION 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section ..............174 SECTION 8.11. Appointment of Custodians...........................................103 Section ..................................175 SECTION 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01Authenticating Agents.......................175 SECTION 8.13. Optional Purchase by the Master Servicer Appointment of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation Paying Agent................................176 SECTION 8.14. Appointment of All Mortgage Loans105 Section 9.02REMIC Administrators........................177 SECTION 8.15. Additional Termination Requirements.................................108 Section 9.03Access to Certain Information..............................178 SECTION 8.16. Termination Representations, Warranties and Covenants of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Trustee.......

CONCERNING THE TRUSTEE. 96 Section 8.0197 SECTION 9.01. Duties of Trustee....................................................96 Section 8.02.....................................................................97 SECTION 9.02. Certain Matters Affecting the Trustee................................97 Section 8.03.................................................98 SECTION 9.03. Trustee Not Liable for Certificates or Mortgage Loans.................................................99 Section 8.04SECTION 9.04. Trustee May Own Certificates.........................................99 Section 8.05.........................................................100 SECTION 9.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Section 8.06..........................................................100 SECTION 9.06. Eligibility Requirements for Trustee.................................................................................100 Section 8.07SECTION 9.07. Resignation and Removal of the Trustee.................................................................................101 Section 8.08SECTION 9.08. Successor Trustee...................................................102 Section 8.09....................................................................101 SECTION 9.09. Merger or Consolidation of Trustee.....................................................................................102 Section 8.10SECTION 9.10. Appointment of Co-Trustee or Separate Trustee...............................................................102 Section 8.11SECTION 9.11. Office of the Trustee................................................................103 ARTICLE X CONCERNING THE TRUST ADMINISTRATOR....................................................................104 SECTION 10.01. Duties of Trust Administrator........................................................104 SECTION 10.02. Certain Matters Affecting the Trust Administrator....................................105 SECTION 10.03. Trust Administrator Not Liable for Certificates or Mortgage Loans....................107 SECTION 10.04. Trust Administrator May Own Certificates.............................................107 SECTION 10.05. Trust Administrator's Fees and Expenses..............................................107 SECTION 10.06. Eligibility Requirements for Trust Administrator.....................................108 SECTION 10.07. Resignation and Removal of Trust Administrator.......................................108 SECTION 10.08. Successor Trust Administrator........................................................109 SECTION 10.09. Merger or Consolidation of Trust Administrator.......................................110 SECTION 10.10. Appointment of CustodiansCo-Trust Administrator or Separate Trust Administrator................110 SECTION 10.11. Office of the Trust Administrator....................................................111 SECTION 10.12. Tax Return...........................................................................111 SECTION 10.13. Determination of Certificate Index...................................................111 ARTICLE XI TERMINATION..........................................................................................112 ARTICLE XII MISCELLANEOUS PROVISIONS............................................................................112 SECTION 12.01. Amendment............................................................................112 SECTION 12.02. Recordation of Agreement; Counterparts...............................................114 SECTION 12.03. Governing Law........................................................................114 SECTION 12.04. Intention of Parties.................................................................115 SECTION 12.05. Notices..............................................................................116 SECTION 12.06. Severability of Provisions...........................................................117 SECTION 12.07. Limitation on Rights of Certificateholders...........................................103 Section 8.12117 SECTION 12.08. Appointment Certificates Nonassessable and Fully Paid............................................118 SECTION 12.09. Protection of Office or Agency.....................................104 Assets.................................................................118 SECTION 12.10. Non-Solicitation.....................................................................118 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE XIII EXCHANGE ACT REPORTING.............................................................................119 SECTION 13.01. Commission Reporting.................................................................119 SECTION 13.02. Form 10-D Reporting..................................................................119 SECTION 13.03. Form 10-K Reporting..................................................................120 SECTION 13.04. Form 8-K Reporting...................................................................121 SECTION 13.05. Delisting; Amendment; Late Filing of Reports.........................................122 SECTION 13.06. Annual Statements of Compliance......................................................123 SECTION 13.07. Annual Assessments of Compliance.....................................................124 SECTION 13.08. Accountant's Attestation.............................................................125 SECTION 13.09. Xxxxxxxx-Xxxxx Certification.........................................................126 SECTION 13.10. Indemnification......................................................................126 EXHIBITS Exhibit A: Form of Class A Certificate..........................................................A-1 Exhibit B: Form of Class M Certificate..........................................................B-1 Exhibit C: Form of Class B Certificate..........................................................C-1 Exhibit D-1: Form of Class AR Certificate.......................................................D-1-1 Exhibit D-2: Form of Class AR-L Certificate.....................................................D-2-1 Exhibit E: Form of Class P Certificate..........................................................E-1 Exhibit F: Form of Class X Certificate..........................................................F-1 Exhibit G: Form of Reverse of Certificates......................................................G-1 Exhibit H-1: Form of Servicer Information.......................................................H-1-1 Exhibit H-2: Reporting Data for Defaulted Loans.................................................H-2-1 Exhibit H-3: Form of Realized Loss Calculation..................................................H-3-1 Exhibit I-1: Form of Trust Receipt and Initial Certification....................................I-1-1 Exhibit I-2: Form of Trust Receipt and Subsequent Certification.................................I-2-1 Exhibit J: Form of Trust Receipt and Final Certification........................................J-1 Exhibit K: Form of Request for Release..........................................................K-1 Exhibit L: Form of Transferor Certificate.......................................................L-1 Exhibit M-1: Form of Investment Letter..........................................................M-1-1 Exhibit M-2: Form of Rule 144A Letter...........................................................M-2-1 Exhibit M-3: Form of Regulation S Letter........................................................M-3-1 Exhibit N: Form of Transferee Affidavit and Agreement...........................................N-1 Exhibit O: Form of Transfer Certificate.........................................................O-1 Exhibit P: Form of SPS Mortgage Loans Report....................................................P-1 Exhibit Q: Form of SPS Foreclosure Settlement Statement.........................................Q-1 Exhibit R: Relevant Servicing Criteria..........................................................R-1 Exhibit S: Additional Form 10-D Disclosure......................................................S-1 Exhibit T: Form of Monthly Statement to Certificateholders......................................T-1 Exhibit U: Form 8-K Disclosure Information .....................................................U-1 Exhibit V: Form of Back-Up Certification .......................................................V-1 Exhibit W: Additional Disclosure Notification ..................................................W-1 Exhibit X: Form of Subsequent Transfer Agreement ...............................................X-1 Exhibit Y: Additional Form 10-K Disclosure .....................................................Y-1 Exhibit Z: Form of Certification Regarding Substitution of Defective Mortgage Loans ............Z-1 SCHEDULES Schedule I: Mortgage Loan Schedule...............................................................I-1 Schedule IIA: Representations and Warranties of Seller - DLJMC...................................IIA-1 Schedule IIB: Representations and Warranties of Servicer, Special Servicer and Modification Oversight Agent - SPS..............................................................IIC-1 Schedule IIC: Representations and Warranties of Servicer - Xxxxx Fargo...........................IID-1 Schedule IID: Representations and Warranties of Servicer - GreenPoint............................IIE-1 Schedule IIE: Representations and Warranties of Servicer - WMMSC.................................IIF-1 Schedule III: Representations and Warranties of DLJMC - Mortgage Loans...........................III-1 This is the STANDARD TERMS OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase POOLING AND SERVICING AGREEMENT, dated as of February 1, 2007 (the "Standard Terms" and as incorporated by reference into a Series Supplement, the "Agreement"), by and among the Depositor, the Seller(s), the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator the Trust Administrator, the Special Servicer, the Modification Oversight Agent, the Trustee and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of Servicers that are party to the Series Supplement..............114. Capitalized terms used in this Agreement and not otherwise defined shall have the meanings assigned to them in Article I below or, if not defined therein, in the applicable Series Supplement.

CONCERNING THE TRUSTEE. 96 Section 8.01. 112 SECTION 8.01 Duties of Trustee....................................................96 Section 8.02. ....................................................................112 SECTION 8.02 Certain Matters Affecting the Trustee................................97 Section 8.03. ................................................113 SECTION 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. ................................115 SECTION 8.04 Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay .........................................................115 SECTION 8.05 Trustee's Fees and Expenses; Indemnification.99 Section 8.06. ..........................................................115 SECTION 8.06 Eligibility Requirements for Trustee................................100 Section 8.07. .................................................116 SECTION 8.07 Resignation and Removal of the Trustee..............................101 Section 8.08. ...............................................116 SECTION 8.08 Successor Trustee...................................................102 Section 8.09. ....................................................................117 SECTION 8.09 Merger or Consolidation of Trustee..................................102 Section 8.10. ...................................................118 SECTION 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. ........................................118 SECTION 8.11 Trustee to Execute Cap Contract......................................................119 -iii- TABLE OF CONTENTS (continued) PAGE SECTION 8.12 Appointment of Office or Agency.....................................104 ......................................................119 SECTION 8.13 Representations and Warranties of the Trustee........................................119 SECTION 8.14 Appointment of the Custodian.........................................................120 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114TERMINATION.................................................................................120

CONCERNING THE TRUSTEE. 96 130 Section 8.01. Duties of Trustee....................................................96 ...............................................................130 Section 8.02. Certain Matters Affecting the Trustee................................97 ...........................................132 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................133 Section 8.04. Trustee May Own Certificates.........................................99 ....................................................133 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.............134 Section 8.06. Eligibility Requirements for Trustee................................100 ............................................135 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................................135 Section 8.08. Successor Trustee...................................................102 ...............................................................136 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................................136 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................137 Section 8.11. Appointment of Custodians...........................................103 the Custodian....................................................138 Section 8.12. Appointment of Office or Agency.....................................104 .................................................138 Section 8.13. DTC Letter of Representations...................................................138 Section 8.14. Swap Agreement..................................................................138 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION..............................................................................138 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Residential Funding or Liquidation of All Mortgage Loans105 Loans 138 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .............................................144 ARTICLE X REMIC PROVISIONS........................................................110 .........................................................................144 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ............................................................144 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ................148 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................149 Section 10.03.Designation 11.01. Amendment.......................................................................149 Section 11.02. Recordation of REMIC(s)Agreement; Counterparts..........................................151 Section 11.03. As provided in Limitation on Rights of Certificateholders......................................152 Section 10.03 11.04. Governing Law...................................................................153 Section 11.05. Notices.........................................................................153 Section 11.06. Notices to Rating Agencies......................................................153 Section 11.07. Severability of Provisions......................................................154 Section 11.08. Supplemental Provisions for Resecuritization....................................154 Section 11.09. [Reserved]......................................................................155 Section 11.10. Third Party Beneficiaries.......................................................155 ARTICLE XII COMPLIANCE WITH REGULATION AB............................................................155 Section 12.01. Intent of Parties; Reasonableness...............................................155 Section 12.02. Additional Representations and Warranties of the Series Supplement 114 Trustee........................155 Section 10.04.Distributions 12.03. Information to be Provided by the Trustee.......................................156 Section 12.04. Report on Assessment of Compliance and Attestation..............................157 Section 12.05. Indemnification; Remedies.......................................................157 EXHIBITS Exhibit A Form of Class A Certificate Exhibit B Form of Class M Certificate Exhibit C-1 Form of Rule 144A Global Class B Certificate Exhibit C-2 Form of Temporary Regulation S Global Class B Certificate Exhibit C-3 Form of Permanent Regulation S Global Class B Certificate Exhibit D-1 Form of Rule 144A Global Class SB Certificate Exhibit D-2 Form of Temporary Regulation S Global Class SB Certificate Exhibit D-3 Form of Permanent Regulation S Global Class SB Certificate Exhibit E Form of Class R Certificate Exhibit F Form of Custodial Agreement Exhibit G Mortgage Loan Schedule Exhibit H Form of Request for Release Exhibit I-1 Form of Transfer Affidavit and Agreement Exhibit I-2 Form of Transferor Certificate Exhibit J Form of Investor Representation Letter Exhibit K Form of Transferor Representation Letter Exhibit L Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit M Form of Limited Guaranty Exhibit N Form of Lender Certification for Assignment of Mortgage Loan Exhibit O Form of Rule 144A Investment Representation Exhibit P [Reserved] Exhibit Q-1 Form of ERISA Representation Letter [Class B Certificates] Exhibit Q-2 Form of ERISA Representation Letter [Class A Certificates and Class M Certificates] Exhibit R-1 Form 10-K Certification Exhibit R-2 Form 10-K Back-up Certification Exhibit S Information to be Provided by the Uncertificated REMIC I Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit T Schedule of Swap Agreement Notional Balances Exhibit U Swap Agreement Exhibit V Servicing Criteria To Be Addressed In Assessment of Compliance Exhibit W-1 Form of Certificate to be Given by Certificate Owner Exhibit W-2 Form of Certificate to be Given by Euroclear or Cedel Exhibit X Form of Certificate to be Given by Transferee of Beneficial Interest in a Regulation S Book-Entry Certificate Exhibit Y Form of Transfer Certificate for Exchange or Transfer from 144A Book-Entry Certificate to Regulation S Book-Entry Certificate Exhibit Z Form of Initial Purchaser Exchange Instructions Exhibit AA Premium Amount Percentage This Pooling and REMIC II Regular Interests. As provided in Section 10.04 Servicing Agreement, effective as of November 1, 2006, among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as depositor (together with its permitted successors and assigns, the "Depositor"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and U.S. BANK NATIONAL ASSOCIATION, a national association organized under the laws of the Series Supplement..............114United States, as trustee and supplemental interest trust trustee (together with its permitted successors and assigns, the "Trustee" and the "Supplemental Interest Trust Trustee", respectively).

CONCERNING THE TRUSTEE. 96 137 Section 8.019.01. Duties of Trustee....................................................96 ...............................................................137 Section 8.029.02. Certain Matters Affecting the Trustee................................97 ...........................................139 Section 8.039.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................140 Section 8.049.04. Trustee May Own Certificates.........................................99 ....................................................141 Section 8.059.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 .....................................................141 Section 8.069.06. Eligibility Requirements for Trustee................................100 ............................................141 Section 8.079.07. Insurance.......................................................................141 Section 9.08. Resignation and Removal of the Trustee..............................101 ..........................................142 Section 8.089.09. Successor Trustee...................................................102 ...............................................................142 Section 8.099.10. Merger or Consolidation of Trustee..................................102 ..............................................143 Section 8.109.11. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................143 Section 8.119.12. Appointment of Custodians...........................................103 Federal Information Returns and Reports to Certificateholders; REMIC Administration; Grantor Trust Administration..............................144 ARTICLE X TERMINATION..............................................................................146 Section 8.1210.01. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Termination Upon Repurchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer Depositor or Liquidation of All Mortgage Loans105 its Designee or Xxxxxxxxxxx xx xxx Xxxxxxxx Loans...............................................146 Section 9.0210.02. Additional Termination Requirements.................................108 .............................................149 ARTICLE XI MISCELLANEOUS PROVISIONS.................................................................150 Section 9.0311.01. Termination Intent of Multiple REMICsParties...............................................................150 Section 11.02. Amendment.......................................................................150 Section 11.03. Recordation of Agreement........................................................151 Section 11.04. Limitation on Rights of Certificateholders......................................109 ARTICLE 151 Section 11.05. Acts of Certificateholders......................................................152 Section 11.06. Governing Law...................................................................153 Section 11.07. Notices.........................................................................153 Section 11.08. Severability of Provisions......................................................154 Section 11.09. Successors and Assigns..........................................................154 Section 11.10. Article and Section Headings....................................................154 Section 11.11. Counterparts....................................................................154 Section 11.12. Notice to Rating Agencies.......................................................154 Section 11.13. Use of Subservicers and Subcontractors..........................................155 EXHIBITS Exhibit A-1 - Form of Class A Certificates Exhibit A-2 - Reserved Exhibit A-3 - Form of Class B Certificates Exhibit A-4 - Form of Class B-IO Certificates Exhibit A-5 - Form of Class R Certificates Exhibit A-6 - Form of Class R-X REMIC PROVISIONS........................................................110 Certificate Exhibit A-7 - Form of Class X Certificate Exhibit A-8 - Form of Class XP Certificate Exhibit B - Mortgage Loan Schedule Exhibit C - Reserved Exhibit D - Request for Release of Documents Exhibit E - Form of Affidavit pursuant to Section 10.01.REMIC Administration................................................110 Section 10.02.Master 860E(e)(4) Exhibit F-1 - Form of Investment Letter (Non-Rule 144A) Exhibit F-2 - Form of Rule 144A Investment Representation Exhibit F-3 - Form of Transferor Representation Letter Exhibit G - Form of Custodial Agreement Exhibit H - Form of Mortgage Loan Purchase Agreement Exhibit I - Form of Trustee Limited Power of Attorney Exhibit J - Reserved Exhibit K - Loan Level Format for Tape Input, Servicer Period Reporting Exhibit L - Reporting Data for Defaulted Loans Exhibit M - Swap Agreements Exhibit N - Form of Cap Contracts Exhibit O - Reserved Exhibit P Servicing Criteria to be Addressed in Assessment of Compliance Exhibit Q-1 - Form of Servicer Back-Up Certification Exhibit Q-2 - Form of Trustee Back-Up Certification Exhibit R - Form 10-D, Form 8-K and Form 10-K Reporting Responsibility Exhibit S - Additional Disclosure Information Exhibit T - Form of Servicer Certification SCHEDULES Schedule A - Coupon Strip Reserve Account Schedule POOLING AND SERVICING AGREEMENT Pooling and Servicing Agreement dated as of October 1, 2006, among Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor"), Wells Fargo Bank, National Association, a banking association organized under the laws of thx Xxxted States, not in its individual capacity but solely as trustee (the "Trustee") and EMC Mortgage Corporation, as servicer (in such capacity, the "Servicer"), REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(sas company (in such capacity, the "Company" or "EMC") and, as sponsor (in such capacity, the "Sponsor"). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114.

CONCERNING THE TRUSTEE. 96 101 Section 8.01. 8.01 Duties of the Trustee....................................................96 ................................................................101 Section 8.02. 8.02 Certain Matters Affecting the Trustee................................97 ................................................101 Section 8.03. 8.03 Trustee Not Liable for Certificates or Mortgage Loans................99 ................................102 Section 8.04. 8.04 Trustee May Own Certificates.........................................99 .........................................................103 Section 8.05. Master Servicer to Pay 8.05 Trustee's Fees and Expenses; Indemnification.99 ..........................................................103 Section 8.06. 8.06 Eligibility Requirements for the Trustee................................100 .............................................104 Section 8.07. 8.07 Resignation and Removal of the Trustee..............................101 ...............................................104 Section 8.08. 8.08 Successor Trustee...................................................102 ....................................................................105 Section 8.09. 8.09 Merger or Consolidation of the Trustee..................................102 ...............................................105 Section 8.10. 8.10 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES............................................................105 Section 9.01. Optional 8.11 Tax Matters..........................................................................106 Section 8.12 Periodic Filings.....................................................................108 ARTICLE NINE TERMINATION..........................................................................110 Section 9.01 Termination upon Liquidation or Purchase by of the Master Servicer of All Mortgage Loans.......................110 Section 9.02 Final Distribution on the Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 ...............................................110 Section 9.02. 9.03 Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ..................................................111 ARTICLE X REMIC TEN MISCELLANEOUS PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114.............................................................113

CONCERNING THE TRUSTEE. 96 125 Section 8.01. Duties of Trustee....................................................96 ...............................................................125 Section 8.02. Certain Matters Affecting the Trustee................................97 ...........................................127 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 ...........................128 Section 8.04. Trustee May Own Certificates.........................................99 ....................................................128 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.99 Indemnification.............128 Section 8.06. Eligibility Requirements for Trustee................................100 ............................................129 Section 8.07. Resignation and Removal of the Trustee..............................101 ..........................................129 Section 8.08. Successor Trustee...................................................102 ...............................................................130 Section 8.09. Merger or Consolidation of Trustee..................................102 ..............................................131 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 ...................................131 Section 8.11. Appointment of Custodians...........................................103 .......................................................132 Section 8.12. Appointment of Office or Agency.....................................104 .................................................132 Section 8.13. DTC Letter of Representations...................................................132 Section 8.14. Swap Agreement..................................................................132 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 TERMINATION.........................................................................................133 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Loans..................133 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 .............................................137 ARTICLE X REMIC PROVISIONS........................................................110 .....................................................................................138 Section 10.01.REMIC 10.01. REMIC Administration................................................110 ............................................................138 Section 10.02.Master 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification....113 ................141 ARTICLE XI MISCELLANEOUS PROVISIONS............................................................................142 Section 10.03.Designation 11.01. Amendment.......................................................................142 Section 11.02. Recordation of REMIC(s)Agreement; Counterparts..........................................144 Section 11.03. As provided in Limitation on Rights of Certificateholders......................................144 Section 10.03 11.04. Governing Law...................................................................145 Section 11.05. Notices.........................................................................145 Section 11.06. Notices to Rating Agencies......................................................146 Section 11.07. Severability of Provisions......................................................146 Section 11.08. Supplemental Provisions for Resecuritization....................................146 Section 11.09. Third-Party Beneficiary.........................................................147 Section 11.10. Tax Treatment...................................................................147 ARTICLE XII COMPLIANCE WITH REGULATION AB......................................................................147 Section 12.01. Intent of Parties; Reasonableness...............................................147 Section 12.02. Additional Representations and Warranties of the Series Supplement 114 Trustee........................148 Section 10.04.Distributions 12.03. Information to be Provided by the Trustee.......................................148 Section 12.04. Report on Assessment of Compliance and Attestation..............................149 Section 12.05. Indemnification; Remedies.......................................................149 Exhibit A Form of Class A Certificate..................................................................A-1 Exhibit B-1 Form of Class M Certificate................................................................B-1-1 Exhibit B-2 Form of Class B Certificate................................................................B-2-1 Exhibit C Form of Class SB Certificate.................................................................C-1 Exhibit D Form of Class R Certificate..................................................................D-1 Exhibit E Form of Custodial Agreement..................................................................E-1 Exhibit F Mortgage Loan Schedule.......................................................................F-1 Exhibit G Form of Request for Release..................................................................G-1 Exhibit H-1 Form of Transfer Affidavit and Agreement...................................................H-1-1 Exhibit H-2 Form of Transferor Certificate.............................................................H-2-1 Exhibit I Form of Investor Representation Letter.......................................................I-1 Exhibit J Form of Transferor Representation Letter.....................................................J-1 Exhibit K Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty......................................................K-1 Exhibit L Form of Limited Guaranty.....................................................................L-1 Exhibit M Form of Lender Certification for Assignment of Mortgage Loan.................................M-1 Exhibit N-1 Form of Rule 144A Investment Representation................................................N-1-1 Exhibit N-2 Form of Transferor Certificate (144A Transferor to 144A Transferee)........................N-2-1 Exhibit N-3 Form of Transferor Certificate (144A Transferor to Regulation S Transferee)................N-3-1 Exhibit N-4 Form of Regulation S Transferee Certificate................................................N-4-1 Exhibit N-5 Form of Transferor Certificate (Regulation S Transferor)...................................N-5-1 Exhibit O Swap Agreement...............................................................................N-1 Exhibit P Form of ERISA Representation Letter for Class SB Certificates................................P-1 Exhibit Q Form of ERISA Representation Letter for Class M/B Certificates...............................Q-1 Exhibit R SB-AMB Swap Agreement........................................................................R-1 Exhibit S Assignment Agreement........................................................................S-1 Exhibit T Servicing Criteria...........................................................................T-1 Exhibit U-1 Form of 10-K Certification.................................................................U-1-1 Exhibit U-2 Form of Back-Up Certification..............................................................U-2-1 Exhibit V Information to be Provided by the Uncertificated REMIC I Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans...............................................................................V-1 Exhibit W Form of Certificate to be Given by Certificate Owner.........................................W-1 Exhibit X Form of Certificate to be Given by Euroclear or Cedel........................................X-1 This Pooling and REMIC II Regular Interests. As provided in Section 10.04 Servicing Agreement, effective as of February 1, 2007, among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as the depositor (together with its permitted successors and assigns, the "Depositor"), RESIDENTIAL FUNDING COMPANY, LLC, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and LASALLE BANK NATIONAL ASSOCIATION, a banking association organized under the laws of the Series Supplement..............114United States, as trustee and supplemental interest trust trustee (together with its permitted successors and assigns, the "Trustee" and the "Supplemental Interest Trust Trustee", respectively).

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 8.1 Certain Rights and Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. ............................59 SECTION 8.2 Trustee Not Liable Responsible for Recitals; Etc.......................62 SECTION 8.3 Trustee and Others May Hold Notes...............................62 SECTION 8.4 Moneys Held by Trustee or Paying Agent..........................62 SECTION 8.5 Compensation of the Trustee and its Lien........................63 SECTION 8.6 Right of Trustee to Rely on Officer's Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay and Opinions of Counsel.............................................64 SECTION 8.7 Persons Eligible for Appointment as Trustee's Fees and Expenses; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. .....................64 SECTION 8.8 Resignation and Removal of the Trustee..............................101 Section 8.08. ; Appointment of Successor....64 SECTION 8.9 Acceptance of Appointment by Successor Trustee...................................................102 Section 8.09. Merger ..................65 SECTION 8.10 Merger, Conversion or Consolidation of Trustee..................................102 Section 8.10. .................66 SECTION 8.11 Maintenance of Offices and Agencies............................66 SECTION 8.12 Reports by Trustee.............................................69 SECTION 8.13 Trustee Risk...................................................69 SECTION 8.14 Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment ......................................69 SECTION 8.15 Knowledge of CustodiansDefault...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 70 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114CONCERNING THE HOLDERS

CONCERNING THE TRUSTEE. 96 Section 8.01. SECTION 7.01 Certain Duties and Responsibilities of Trustee....................................................96 Section 8.02. ..................... 25 SECTION 7.02 Certain Matters Affecting the Rights of Trustee................................97 Section 8.03. .......................................... 26 SECTION 7.03 Trustee Not Liable Responsible for Certificates Recitals or Mortgage Loans................99 Section 8.04. Issuance or Securities..... 27 SECTION 7.04 May Hold Securities................................................ 27 SECTION 7.05 Moneys Held in Trust............................................... 27 SECTION 7.06 Compensation and Reimbursement..................................... 27 SECTION 7.07 Reliance on Officers' Certificate.................................. 28 SECTION 7.08 Disqualification; Conflicting Interests............................ 28 SECTION 7.09 Corporate Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and ExpensesRequired; Indemnification.99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Eligibility............................ 28 SECTION 7.10 Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Removal; Appointment of Co-Trustee Successor.................. 29 SECTION 7.11 Acceptance of Appointment By Successor............................. 30 SECTION 7.12 Merger, Conversion, Consolidation or Separate Trustee.......................102 Section 8.11. Appointment Succession to Business........ 31 SECTION 7.13 Preferential Collection of Custodians...........................................103 Section 8.12. Appointment Claims Against the Company.............. 31 ARTICLE VIII CONCERNING THE SECURITYHOLDERS SECTION 8.01 Evidence of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase Action by the Master Servicer Securityholders.............................. 32 SECTION 8.02 Proof of All Certificates; Termination Upon Purchase Execution by the Master Servicer or Liquidation of All Mortgage Loans105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Securityholders.............................. 32 SECTION 8.03 Who May be Deemed Owners........................................... 33 SECTION 8.04 Certain Securities Owned by Company Disregarded.................... 33 -iii-

CONCERNING THE TRUSTEE. 96 Section 117 SECTION 8.01. Duties of Trustee....................................................96 Section ...................................... 117 SECTION 8.02. Certain Matters Affecting the Trustee................................97 Section .................. 118 SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section .................. 120 SECTION 8.04. Trustee May Own Certificates.........................................99 Section ........................... 120 SECTION 8.05. Master Servicer to Pay Trustee's Fees and Fees......................................... 120 SECTION 8.06. Indemnification of Trustee; Expenses; Indemnification.99 Section 8.06................... 120 SECTION 8.07. Eligibility Requirements for Trustee................................100 Section 8.07................... 121 SECTION 8.08. Resignation and Removal of the Trustee..............................101 Section 8.08..................... 122 SECTION 8.09. Successor Trustee...................................................102 Section 8.09...................................... 122 SECTION 8.10. Merger or Consolidation of Trustee..................................102 Section 8.10..................... 123 SECTION 8.11. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section .......... 123 SECTION 8.12. Appointment of Office or Agency.....................................104 Tax Matters............................................ 124 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section TERMINATION................................................... 126 SECTION 9.01. Optional Purchase by the Master Servicer Termination upon Liquidation or Repurchase of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All all Mortgage Loans105 Section Loans......................................... 126 SECTION 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement 114 Section 10.04.Distributions Final Distribution on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement..............114Certificates................. 128 -iii- TABLE OF CONTENTS (continued)