BEAR XXXXXXX ASSET BACKED SECURITIES I LLC
SACO I Trust 2006-3
Mortgage-Backed Certificates Series 2006-3
TERMS AGREEMENT
Dated: as of February 17, 2006
To: BEAR XXXXXXX ASSET BACKED SECURITIES I LLC
Re: Underwriting Agreement, dated January 10, 2006
Underwriter: Bear, Xxxxxxx & Co. Inc. (the "Underwriter")
Series Designation: Series 2006-3
Class Designation Schedule of the Certificates: Class A-1, Class A-2, Class A-3,
Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1,
Class B-2 and Class B-3, Certificates
TERMS OF THE CERTIFICATES:
CLASS ORIGINAL CERTIFICATE PRINCIPAL PASS-THROUGH
BALANCE RATE
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Class A-1 $487,011,000 Adjustable
Class A-2 $37,426,000 Adjustable
Class A-3 $32,574,000 Adjustable
Class M-1 $42,390,000 Adjustable
Class M-2 $40,805,000 Adjustable
Class M-3 $17,431,000 Adjustable
Class M-4 $18,224,000 Adjustable
Class M-5 $16,243,000 Adjustable
Class M-6 $11,885,000 Adjustable
Class B-1 $13,073,000 Adjustable
Class B-2 $11,093,000 Adjustable
Class B-3 $11,092,000 Adjustable
The Certificates purchased by the Underwriter will be offered from time to time
by the Underwriter in negotiated transactions at varying prices to be determined
at the time of sale.
DEFINED TERMS: Terms not otherwise defined herein shall have the meanings given
to such terms in the Pooling and Servicing Agreement, dated as of February 1,
2006, among Bear Xxxxxxx Asset Backed Securities I LLC, as depositor, EMC
Mortgage Corporation, as sponsor and master servicer and LaSalle Bank National
Association, as trustee.
FORM OF CERTIFICATES BEING PURCHASED BY THE UNDERWRITER: Book-Entry.
DISTRIBUTION DATES: The 25th day of each month or, if such 25th day is not a
business day, the next succeeding business day beginning in March 2006.
CERTIFICATE RATING FOR THE CERTIFICATES BEING PURCHASED BY THE UNDERWRITER:
STANDARD &
CLASS POOR'S RATING XXXXX'X RATING
A-1 AAA Aaa
A-2 AAA Aaa
A-3 AAA Aaa
M-1 AA+ Aa1
M-2 AA Aa2
M-3 AA- Aa3
M-4 A+ A1
M-5 A A2
M-6 A- A3
B-1 BBB+ Baa1
B-2 BBB Baa2
B-3 BBB- Baa3
MORTGAGE ASSETS: The Mortgage Loans to be included in the Trust Fund are as
described in Annex A hereto.
PURCHASE PRICE: The aggregate purchase price payable by the Underwriter for the
Certificates covered by thisAgreement will be $ * (plus
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$ * in accrued interest).
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CREDIT ENHANCEMENT: Excess spread, overcollateralization, subordination and,
with respect to each of the Class A, Class M and Class B Certificates only, an
interest rate swap agreement, as described in the related Prospectus Supplement.
CLOSING DATE: February 28, 2006.
[Signature Page Follows]
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* Please contact Bear, Xxxxxxx & Co. Inc. for pricing information
The undersigned, as Underwriter, agrees, subject to the terms and provisions of
the above-referenced Underwriting Agreement, which is incorporated herein in its
entirety and made a part hereof, to purchase the respective principal amounts of
the Classes of the above-referenced Series of Certificates as set forth herein.
BEAR, XXXXXXX & CO. INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Vice President
Accepted:
BEAR XXXXXXX ASSET BACKED
SECURITIES I LLC
By: /s/ Xxxxx Xxxxxxxxxxx
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Name: Xxxxx Xxxxxxxxxxx
Title: Vice President
ANNEX A
Mortgage Loan Schedule
[Available Upon Request]
