Common use of Reserve Fund Clause in Contracts

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") in the name of the Trustee on behalf of the Holders of the Class AGroup I Offered, Class B I-B-3 and Class M B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo BankCitibank, N.A. as Securities Administrator for the benefit Trustee f/b/o holders of Holders of Structured Asset Mortgage Investments II Inc., Bear Sxxxxxx Asset Backed Securities I LLCStearns ALT-A Trust 2006-8, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”8." The Sexxxxxxxs Administrator shall demand payment of all money payable by the Counterparty under the Cap Contracts. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Securities Administrator shall deposit in the Reserve Fund an amount equal all payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(a), all payments described under the Ninth and Tenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts and the amounts described in the Ninth and Tenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Holders of the Group I Offered Certificates and the Class I-B-3 Certificates, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class AGroup I Offered, Class M I-B-3, and Class B Certificates B-IO Certificateholders in respect accordance with the Ninth and Tenth clauses of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CSection 6.01(a) and (D) of Section 6.04(a)(36.01(b). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Asset Backed Securities SACO I LLCTrust, Asset2005-Backed WM1, Mortgage Pass-Through Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class CWM1”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M and Class B Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses clause (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses clause (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, Class M or and Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Basis Risk Shortfall Reserve Fund, Wxxxx Fargo Bank, N.A. U.S. Bank National Association as Securities Administrator Trustee for the benefit of Holders of Bear Sxxxxxx Structured Asset Backed Securities I LLCMortgage Investments II Inc., AssetMortgage Pass-Backed Through Certificates, BankUnited Trust Series 20062005-AC41, Class 1-A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 I-A-2 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. I-X Certificates.” On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Carryover Amount payable to any of the Class of I-A-1 Certificates or Class I-A-2 Certificates, the Securities Administrator shall deposit the amounts distributable in respect of any such Basis Risk Shortfall Carryover Amount pursuant to clauses (C) priorities first and (D) second of Section 6.04(a)(36.01(a)(i) into the Reserve Fund, and the Securities Administrator has been directed by the Class C I-X Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M I-A-1 Certificates and Class B I-A-2 Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) priorities first and (D) second of Section 6.04(a)(36.01(a)(i). Any amount paid to the Holders of Class A, I-A-1 Certificates and Class M or Class B I-A-2 Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Carryover Amounts shall be treated as distributed to the Class C I-X Certificateholder in respect of the Class C I-X Certificates and paid by the Class C I-X Certificateholder to the Holders of the Class A, Class M I-A-1 Certificates or Class B I-A-2 Certificates, as applicable. Any payments to the Holders of the Class A, I-A-1 Certificates and Class M or Class B I-A-2 Certificates in respect of Basis Risk Shortfall Carry Forwards Carryover Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, as Securities Administrator on behalf of Citibank, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, AssetMortgage-Backed Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C7”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M or Class B Certificates, the Securities Administrator shall deposit the amounts distributable pursuant to clauses clause (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and or Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses clause (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") on behalf of the Holders of the Group I Certificates (other than the Class AX Certificates), Class B I-B-IO Certificates, Group II Certificates and Class M II-B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Wells Fargo Bank, N.A. National Association as Securities Administrator Trustee f/b/o holders of Structured Asset Mortgagx Xxvestments II Inc., Bear Stearns Mortgage Funding Trust 2006-AR3, Mortgage Pass-Through Certificates, Series 2000-XX0." The Trustee shall demand payment of all money payable by each Cap Counterparty under each Cap Contract. The Trustee shall deposit in the Reserve Fund all Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.01(b), all payments from Excess Cash Flow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth clauses of Section 6.01(b). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Excess Cash Flow amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group I Certificateholders (other than the Holders of Bear Sxxxxxx Asset Backed Securities I LLC, Assetthe Class X Certificates) and the Class I-Backed Certificates, Series 2006B-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 IO Certificateholders in accordance with the terms and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Depositprovisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to held in trust for the benefit of the Group I Certificateholders (other than the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CX Certificates) and (D) the Class I-B-IO Certificateholders in accordance with the Fourteenth and Fifteenth clauses of Section 6.04(a)(36.01(a) and Section 6.01(c). Any amount paid to the Holders of Class A, Class M or Class B Certificates All Cap Contract Payment Amounts received from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to Cap Contracts benefiting the Holders of the Class A, Class M or Class B Certificates. Any payments Group II Certificates and the Excess Cash Flow amounts described in the Ninth and Tenth clauses of Section 6.01(b) deposited to the Holders Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class AII-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class M or Class B II-B-IO Certificateholders in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to accordance with the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning Ninth and Tenth clauses of Section 860G(a)(16.01(b) of the Codeand Section 6.01(d).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On or prior to the Closing Date, the Depositor will deposit, or Master Servicer shall cause to be depositedestablished and maintained the Class II-A-3 Reserve Fund, into the Reserve Fund which an amount equal to $6,200 shall be contributed by the Underwriter, to provide coverage with respect to any Class II-A-3 Covered Interest Shortfall Amount. For each Distribution Date, so long as funds remain on deposit in the Class II-A-3 Reserve Fund DepositFund, the Master Servicer shall calculate the Class II-A-3 Covered Interest Shortfall Amount for such Distribution Date, and shall notify the Trustee and the Certificate Insurer by noon New York City time two Business Days prior to the Distribution Date of such amount. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit then withdraw from the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Class II-A-3 Reserve Fund, to the extent funds are available therein, the Class II-A-3 Covered Interest Shortfall Amount, and deposit such amount in the Securities Administrator Certificate Account for payment to the Class II-A-3 Certificateholders pursuant to Section 4.05(a) (and shall be deemed to have distributed such amount to the Class II-A-3-L Regular Interest pursuant to Section 4.04). The Trustee shall withdraw from the Class II-A-3 Reserve Fund and pay to the Underwriter any amounts remaining in the Class II-A-3 Reserve Fund on the Distribution Date on which the Class II-A-3 Principal Balance has been directed by the Class C Certificateholder reduced to distribute any amounts then zero. Amounts on deposit in the Class II-A-3 Reserve Fund shall not be invested and shall not be held in an interest-bearing account. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Class II-A-3 Reserve Fund established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Underwriter, and the Underwriter shall report all amounts of income, deduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts fund shall be treated as distributed by the REMIC to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the CodeUnderwriter.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, LLC Asset-Backed Certificates, Series 20062004-AC4HE8, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”The Trustee shall demand payment of all money payable by Bear Stearns Financial Pxxxxxxx Inc. (the "Counterparty") under the Yield Maintenance Agreements. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, A and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Asset Backed Securities SACO I LLCTrust 2005-WM3, AssetMortgage Pass-Backed Through Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class CWM3”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M and Class B Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount Amounts for each such Class in the the priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, Class M or and Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") on behalf of the Holders of the Group I Offered Certificates (other than the Class AX Certificates), Class B I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and Class M II-B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. National Association as Securities Administrator for the benefit Trustee f/b/o holders of Holders of Structured Asset Mortgage Investments II Inc., Bear Sxxxxxx Asset Backed Securities I LLCXxxxxxx Mortgage Funding Trust 2006-AR1, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”AR1." The Trustee shall demand payment of all money payable by the Counterparty under the Cap Contracts. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.01(b), all payments described under the Twelfth and Thirteenth clauses of Section 6.01(a) and the Ninth and Tenth clauses of Section 6.01(b). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Class X Certificates) and the amounts described in the Twelfth and Thirteenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates), as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses Group I Certificateholders (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to other than the Holders of the Class AX Certificates) and the Class I-B-IO Certificateholders in accordance with the Twelfth, Thirteenth and Fourteenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group II Offered, Class M or II-B-5 and Class B Certificates. Any payments to II-B-IO Certificateholders in accordance with the Holders of the Class ANinth, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning Tenth and Eleventh clauses of Section 860G(a)(1) of the Code6.01(b).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, Asset-Backed Certificates, Series 20062004-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”FR3". On The Trustee shall demand payment of all money payable by Bear Stearns Financial Pxxxxxxx Inc. (the Closing Date, "Counterparty") under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A Certificates and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo Welxx Xxrgo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Stexxxx Xxset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") in the name of the Trustee on behalf of the Holders of the Class AGroup I Offered, Class B I-B-3, Class B-IO, Class II-B-1, Class II-B-2, Class II-X-B1 and Class M II-X-B2 Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo BankU.S. Bank National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLCXxxxxxx ALT-A Trust 2006-3, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”3." The Securities Administrator shall demand payment of all money payable by the Counterparty under the Cap Contracts. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Securities Administrator shall deposit in the Reserve Fund an amount equal all payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.02(i)(a), all payments described under the ninth and tenth clauses of Section 6.01(a) and clause (J) of Section 6.02(i)(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Offered and Class I-B-3 Certificateholders and the amounts described in the ninth and tenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered and Class I-B-3 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. All Cap Contract Payment Amounts received from Cap Contracts benefiting the Class II-B-1 and Class II-B-2 Certificateholders and the amounts described in Section 6.02(i)(a)(J) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Class II-B-1 and Class II-B-2 Certificateholders, as applicable, and the Class II-X-B Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to (i) the Holders of the Class AGroup I Offered, Class M I-B-3, and Class B Certificates B-IO Certificateholders in respect accordance with the ninth and tenth clauses of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CSection 6.01(a) and Section 6.01(b) and (Dii) of Section 6.04(a)(3). Any amount paid to the Holders of Class AII-B-1, Class M or II-B-2, Class B Certificates from amounts distributable pursuant to clauses (CII-X-B1 and Class II-X-B2 Certificateholders in accordance with Sections 6.02(i)(a)(J) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code6.02(i)(f).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Asset Backed Securities SACO I LLCTrust 2005-WM2, AssetMortgage Pass-Backed Through Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class CWM2”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M and Class B Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount Amounts for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, Class M or and Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Asset Backed Securities SACO I LLCTrust 2005-9, AssetMortgage Pass-Backed Through Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C9”. The “Counterparty” shall pay to the Trustee all amounts required to be paid by it under the Cap Contract. The Trustee shall deposit in the Reserve Fund all payments received by it from the Counterparty pursuant to the Cap Contract. On the Closing each Distribution Date, the Depositor will depositTrustee shall remit Cap Contract Payment Amounts received by it from the Counterparty on such Distribution Date (i) first, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund DepositHolders of the Class M-4 Certificates to the extent of any Basis Risk Shortfall Carry Forward Amount in respect of each Class M-4 Certificate for such Distribution Date, and (ii) second, any remainder to the Class C Certificates. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M and Class B Certificates and after payment of the Cap Contract Payment Amounts to the Class M-4 Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund (other than any Cap Contract Payment Amounts) to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount Amounts for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, Class M or and Class B Certificates pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.03(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062004-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”HE11". On The Trustee shall demand payment of all money payable by Bear Xxxxxxx Financial Products Inc. (the Closing Date, "Counterparty") under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A Certificates and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A Certificates and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") in the name of the Trustee on behalf of the Holders of the Class AGroup I Offered, Class B I-B-3, Class B-IO, Class II-B-1, Class II-B-2, Class II-X-B1 and Class M II-X-B2 Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo BankU.S. Bank National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLCXxxxxxx ALT-A Trust 2006-3, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”3." The Securities Administrator shall demand payment of all money payable by the Counterparty under the Cap Contracts. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Securities Administrator shall deposit in the Reserve Fund an amount equal all payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.02(i)(a), all payments described under the Ninth and Tenth clauses of Section 6.01(a) and clause (J) of Section 6.02(i)(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Offered and Class I-B-3 Certificateholders and the amounts described in the Ninth and Tenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered and Class I-B-3 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. All Cap Contract Payment Amounts received from Cap Contracts benefiting the Class II-B-1 and Class II-B-2 Certificateholders and the amounts described in Section 6.02(i)(a)(J) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Class II-B-1 and Class II-B-2 Certificateholders, as applicable, and the Class II-X-B Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to (i) the Holders of the Class AGroup I Offered, Class M I-B-3, and Class B Certificates B-IO Certificateholders in respect accordance with the Ninth and Tenth clauses of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CSection 6.01(a) and Section 6.01(b) and (Dii) of Section 6.04(a)(3). Any amount paid to the Holders of Class AII-B-1, Class M or II-B-2, Class B Certificates from amounts distributable pursuant to clauses (CII-X-B1 and Class II-X-B2 Certificateholders in accordance with Sections 6.02(i)(a)(J) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code6.02(i)(f).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund No later than the Closing Date, the Trustee, on behalf of the Holders of the Class ACertificateholders, Class B shall establish and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wxxxx Fargo BankBankers Trust Company of California, N.A. as Securities Administrator N.A., in trust for the benefit of registered Holders of Bear Sxxxxxx Asset Backed Securities I LLCLong Beach Mortgage Loan Trust 2001-2, Asset-Backed Certificates, Series 20060000-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On 0." Xx the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit$1,000. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Net WAC Rate Carryover Amount payable to any the Class of A-1V Certificates, Class A-2 Certificates or Mezzanine Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(ix), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A-1V Certificates, Class A-2 Certificates and Mezzanine Certificates, and will distribute any such amounts then to the Holders of the Class A-1V Certificates, Class A-2 Certificates and Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders shall be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 3 to 100 the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A-1V Certificates, Class A-2 Certificates and Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund to will be released by the Holders of the Class A, Class M Trustee and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect Certificateholders or their designees. The Reserve Fund will be part of the Class C Certificates Trust but not part of any REMIC and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any any payments to the Holders of the Class AA-1V Certificates, Class M A-2 Certificates or Class B in respect Mezzanine Certificates of Basis Risk Shortfall Carry Forwards Net WAC Rate Carryover Amounts pursuant to the second preceding sentence shall will not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder shall be deemed to have directed the Trustee, and the Trustee shall pursuant to such direction, deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the Codedefinition of Permitted Investments. Notwithstanding the foregoing, any funds in the Reserve Fund shall be invested in Bankers Trust's Institutional Cash Management Fund 1679 for so long as such investment complies with clause (vi) of the definition of Permitted Investments. All income and gain earned upon such investment shall be deposited into the Reserve Fund. For federal tax return and information reporting, the right of the Holders of the Class A-1V Certificates, the Holders of the Class A-2 Certificates and the Holders of the Mezzanine Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a one or more segregated trust accounts (the "Reserve Fund Fund") on behalf of the Holders of the Group I Certificates (other than the Class AX Certificates), Class B I-B-IO Certificates, Group II Certificates and Class M II-B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Wells Fargo Bank, N.A. National Association as Securities Administrator for the benefit Trustee f/b/o holders of Holders of Structured Asset Mortgage Investxxxxx II Inc., Bear Sxxxxxx Asset Backed Securities I LLCStearns Mortgage Funding Trust 2006-AR3, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”AR3." Xxx Xrustee shall demand payment of all money payable by each Cap Counterparty under each Cap Contract. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.01(b), all payments from Excess Cash Flow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth clauses of Section 6.01(b). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Excess Cash Flow amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to held in trust for the benefit of the Group I Certificateholders (other than the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CX Certificates) and (D) the Class I-B-IO Certificateholders in accordance with the Fourteenth and Fifteenth clauses of Section 6.04(a)(36.01(a) and Section 6.01(c). Any amount paid to the Holders of Class A, Class M or Class B Certificates All Cap Contract Payment Amounts received from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to Cap Contracts benefiting the Holders of the Class A, Class M or Class B Certificates. Any payments Group II Certificates and the Excess Cash Flow amounts described in the Ninth and Tenth clauses of Section 6.01(b) deposited to the Holders Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class AII-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class M or Class B II-B-IO Certificateholders in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to accordance with the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning Ninth and Tenth clauses of Section 860G(a)(16.01(b) of the Codeand Section 6.01(d).

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class ACertificates. On the Closing Date, Class B and Class M Certificatesthe Depositor shall cause an amount equal to the Reserve Fund Deposit to be deposited in the Reserve Fund. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, as Securities Administrator on behalf of Citibank, N.A. as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, AssetMortgage-Backed Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C8”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A, Class M or Class B Certificates, the Securities Administrator shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and or Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount Amounts for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or and Class B Certificates, as applicable. Any payments to the Holders of the Class A, Class M or and Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Forward Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Section 860G(a)(1860(G)(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, Asset-Backed Certificates, Series 20062004-AC4HE7". The Trustee shall demand payment of all money payable by Wells Fargo Bank, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”N.X. (the "Counterparty") under the Yield Maintenance Agreements. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A, Class M and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any of the Class of A and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4ST1, Class A-1X-0, Class A-2, Class A-3Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. The Securities Administrator shall deposit in the Reserve Fund all payments received from the Counterparty pursuant to the Yield Maintenance Agreement. On each Distribution Date following such deposit, the Securities Administrator shall remit amounts then on deposit in the Reserve Fund to the Holders of the Class M, Class B and Class C Certificates in the manner provided in clause (b) below. In addition, following such distribution of amounts received under the Yield Maintenance Agreement pursuant to clause (b) below, on each Distribution Date as to which there is a any Basis Risk Shortfall Carry Forward Amount payable remaining unpaid to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a one or more segregated trust accounts (the “Reserve Fund Fund”) on behalf of the Holders of the Group I Offered Certificates (other than the Class AX Certificates and the Grantor Trust Certificates), the Underlying Class II-A-2 Certificates, Class B I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and Class M II-B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Wells Fargo Bank, N.A. National Association as Securities Administrator for the benefit Trustee f/b/o holders of Holders of Structured Asset Mortgage Investxxxxx II Inc., Bear Sxxxxxx Asset Backed Securities I LLCStearns Mortgage Funding Trust 2006-AR2, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4AR2.” Thx Xxxxxee shall demand payment of all money payable by the related Cap Counterparty under the related Cap Contract, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”as applicable. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all payments received by it from the related Cap Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.01(b), all payments described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth clauses of Section 6.01(b). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and the amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates, as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses Group I Certificateholders (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to other than the Holders of the Class AX Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth, Fifteenth and Seventeenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group II Offered, Class M or II-B-5 and Class B Certificates. Any payments to II-B-IO Certificateholders in accordance with the Holders of the Class ANinth, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning Tenth and Eleventh clauses of Section 860G(a)(1) of the Code6.01(b).

Reserve Fund. (a) The Securities Administrator Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B B, Class M and Class M C Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator Trustee for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062007-AC4, Class A-1, Class A-2X-0, Xxxxx X-0, Class A-3X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-2 and Class CC Certificates”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount Amounts for each such Class in the priorities set forth in clauses (CD) and (DE) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, Asset-Backed Certificates, Series 20062004-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”HE9". On The Trustee shall demand payment of all money payable by Bear Stearns Financial Pxxxxxxx Inc. (the Closing Date, "Counterparty") under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A Certificates and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A Certificates and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062004-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”BO1". On The Trustee shall demand payment of all money payable by the Closing Date, Counterparty under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received by it from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty, if any, to the Holders of the Class A, Class M and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any of the Class of A and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund No later than the Closing Date, the Trustee, on behalf of the Holders of the Class ACertificateholders, Class B shall establish and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “maintain with itself a separate, 100 segregated trust account titled, "Reserve Fund, Wxxxx Fargo BankBankers Trust Company of California, N.A. as Securities Administrator N.A., in trust for the benefit of registered Holders of Bear Sxxxxxx Asset Backed Securities I LLCLong Beach Mortgage Loan Trust 2001-3, Asset-Backed Certificates, Series 20060000-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On 0." Xx the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit$1,000. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Net WAC Rate Carryover Amount payable to any the Class of A-1 Certificates, Class A-2 Certificates or Mezzanine Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(viii), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A-1 Certificates, Class A-2 Certificates and Mezzanine Certificates, and will distribute any such amounts then to the Holders of the Class A-1 Certificates, Class A-2 Certificates and Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders shall be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 3 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A-1 Certificates, Class A-2 Certificates and Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund to will be released by the Holders of the Class A, Class M Trustee and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect Certificateholders or their designees. The Reserve Fund will be part of the Class C Certificates Trust but not part of any REMIC and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any any payments to the Holders of the Class AA-1 Certificates, Class M A-2 Certificates or Class B in respect Mezzanine Certificates of Basis Risk Shortfall Carry Forwards Net WAC Rate Carryover Amounts pursuant to the second preceding sentence shall will not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder shall be deemed to have directed the Trustee, and the Trustee shall pursuant to such direction, deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on 101 which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the Codedefinition of Permitted Investments. Notwithstanding the foregoing, any funds in the Reserve Fund shall be invested in Bankers Trust's Institutional Cash Management Fund 1679 for so long as such investment complies with clause (vi) of the definition of Permitted Investments. All income and gain earned upon such investment shall be deposited into the Reserve Fund. For federal tax return and information reporting, the right of the Holders of the Class A-1 Certificates, the Holders of the Class A-2 Certificates and the Holders of the Mezzanine Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On or prior to the Closing Date, the Depositor will deposit, or Master Servicer shall cause to be depositedestablished and maintained the Class III-A-7 Reserve Fund, into the Reserve Fund which an amount equal to $2,000 shall be contributed by the Reserve Fund Deposit. On each Distribution Date as Underwriter, to which there is a Basis Risk Shortfall Carry Forward Amount payable provide coverage with respect to any Class of CertificatesIII-A-7 Covered Interest Shortfall Amount. For each Distribution Date, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then so long as funds remain on deposit in the Class III-A-7 Reserve Fund, the Master Servicer shall calculate the Class III-A-7 Covered Interest Shortfall Amount for such Distribution Date, and shall notify the Trustee and the Certificate Insurer by noon New York City time two Business Days prior to the Distribution Date of such amount. On each such Distribution Date, the Trustee shall then withdraw from the Class III-A-7 Reserve Fund, to the extent funds are available therein, the Class III-A-7 Covered Interest Shortfall Amount, and deposit such amount in the Certificate Account for payment to the Class III-A-7 Certificateholders pursuant to Section 4.05(a) (and shall be deemed to have distributed such amount to the Class III-A-7-L Regular Interest pursuant to Section 4.04). The Trustee shall withdraw from the Class III-A-7 Reserve Fund and pay to the Holders Underwriter any amounts remaining in the Class III-A-7 Reserve Fund on the Distribution Date on which the Class III-A-7 Principal Balance has been reduced to zero. Amounts on deposit in the Class III-A-7 Reserve Fund shall not be invested and shall not be held in an interest-bearing account. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Class AIII-A-7 Reserve Fund established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), Class M and Class B Certificates in respect that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Basis Risk Shortfall Carry Forward Amount for each such Class in Underwriter, and the priorities set forth in clauses (C) Underwriter shall report all amounts of income, deduction, gain or loss accruing therefrom, and (Diii) of Section 6.04(a)(3). Any amount paid amounts transferred by the REMIC to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts fund shall be treated as distributed by the REMIC to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the CodeUnderwriter.

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”. On or prior to the Closing Date, the Depositor will deposit, or Master Servicer shall cause to be depositedestablished and maintained the Class II-A-24 Reserve Fund, into the Reserve Fund which an amount equal to $15,000 shall be contributed by the Underwriter, to provide coverage with respect to any Class II-A-24 Covered Interest Shortfall Amount. For each Distribution Date, so long as funds remain on deposit in the Class II-A-24 Reserve Fund DepositFund, the Master Servicer shall calculate the Class II-A-24 Covered Interest Shortfall Amount for such Distribution Date, and shall notify the Trustee and the Certificate Insurer by noon New York City time two Business Days prior to the Distribution Date of such amount. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit then withdraw from the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Class II-A-24 Reserve Fund, to the extent funds are available therein, the Class II-A-24 Covered Interest Shortfall Amount, and deposit such amount in the Securities Administrator Certificate Account for payment to the Class II-A-24 Certificateholders pursuant to Section 4.04(a) (and shall be deemed to have distributed such amount to the Class II-A-24-L Regular Interest pursuant to Section 4.01). The Trustee shall withdraw from the Class II-A-24 Reserve Fund and pay to the Underwriter any amounts remaining in the Class II-A-24 Reserve Fund on the Distribution Date on which the Class II-A-24 Principal Balance has been directed by the Class C Certificateholder reduced to distribute any amounts then zero. Amounts on deposit in the Class II-A-24 Reserve Fund shall not be invested and shall not be held in an interest-bearing account. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Class II-A-24 Reserve Fund established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of either REMIC, (ii) such fund shall be owned for federal tax purposes by the Underwriter, and the Underwriter shall report all amounts of income, deduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts fund shall be treated as distributed by the REMIC to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the CodeUnderwriter.

Reserve Fund. (a) The Securities Administrator Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B B, Class M and Class M C Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator Trustee for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062007-AC4AC2, Class A-1X-0, Class A-2, Class A-3Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator Trustee shall deposit the amounts pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CD) and (DE) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B B, Class M and Class M C Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062007-AC4AC1, Class A-1, Class A-2X-0, Class A-3Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CD) and (DE) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, Asset-Backed Certificates, Series 2006-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”2004- FR2". On The Trustee shall demand payment of all money payable by Bear Stearns Financial Pxxxxxxx Inc. (the Closing Date, "Counterparty") under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of A and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (DE) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “"Reserve Fund, Wxxxx Fargo Bank, N.A. LaSalle Bank National Association as Securities Administrator Trustee for the benefit of Holders holders of Bear Sxxxxxx Stearns Asset Backed Securities Backex Xxxxxities I LLC, Asset-Backed Certificates, Series 20062004-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”HE10". On The Trustee shall demand payment of all money payable by Bear Stearns Financial Pxxxxxxx Inc. (the Closing Date, "Counterparty") under the Depositor will deposit, or cause to be deposited, into Yield Maintenance Agreements. The Trustee shall deposit in the Reserve Fund an amount equal all payments received from the Counterparty pursuant to the Reserve Fund DepositYield Maintenance Agreements. On each Distribution Date the Trustee shall remit amounts received from the Counterparty to the Holders of the Class A Certificates, Class M Certificates and Class CE Certificates in the manner provided in clause (b) below. In addition, on each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Class A Certificates and/or Class M Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(35.04(a)(4) into the Reserve Fund, Fund and the Securities Administrator Trustee has been directed by the Class C CE Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(35.04(a)(4). Any amount paid to the Holders of Class A, A Certificates and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts Amount shall be treated as distributed to the Class C CE Certificateholder in respect of the Class C CE Certificates and paid by the Class C CE Certificateholder to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amount, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest "regular interest" in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B B, Class M and Class M C Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator Trustee for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062007-AC4AC3, Class A-1X-0, Class A-2, Class A-3Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator Trustee shall deposit the amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (CD) and (DE) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (CD) and (DE) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The Securities Administrator Trustee shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator Trustee for the benefit of Holders of Bear Sxxxxxx Asset Backed Securities I LLCXxxxxxx Mortgage Funding Trust 2006-AC1, Asset-Backed Certificates, Series 2006-AC4AC1, Class A-1, Class A-2X-0, Xxxxx X-0, Class A-3A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator Trustee shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator Trustee has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.

Reserve Fund. (a) The On or before the Closing Date, the Securities Administrator shall establish a Reserve Fund in the name of the Securities Administrator for the benefit of the Trustee on behalf of the Holders of the Class A, Class B and Class M Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Fargo BankLaSalle Bank National Association, N.A. as Securities Administrator for the benefit of Holders Citibank, N.A., in trust for registered holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20062005-AC4, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class CCL1”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any of the Class of A Certificates and/or Class M Certificates, the Securities Administrator shall deposit the amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, Fund and the Securities Administrator has been directed by the Class C B-IO Certificateholder to distribute any such amounts then on deposit in the Reserve Fund to the Holders of the Class A, A Certificates and/or Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the amounts and priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, A Certificates and/or Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C B-IO Certificateholder in respect of the Class C B-IO Certificates and paid by the Class C B-IO Certificateholder to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates. Any payments to the Holders of the Class A, A Certificates and/or Class M or Class B Certificates in respect of Basis Risk Shortfall Carry Forwards Amounts Forward Amounts, whether pursuant to the second preceding sentence or pursuant to subsection (b) below, shall not be payments with respect to a Regular Interest “regular interest” in a REMIC within the meaning of Code Section 860G(a)(1) of the Code860(G)(a)(1).

Reserve Fund. (a) The Securities Administrator On or before the Closing Date, the Trustee shall establish a one or more segregated trust accounts (the “Reserve Fund Fund”) on behalf of the Holders of the Group I Offered Certificates (other than the Class AX Certificates and the Grantor Trust Certificates), the Underlying Class II-A-2 Certificates, Class B I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and Class M II-B-IO Certificates. The Reserve Fund shall must be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Wells Fargo Bank, N.A. National Association as Securities Administrator for the benefit Trustee f/b/o holders of Holders of Structured Asset Mortgage Investmentx XX Inc., Bear Sxxxxxx Asset Backed Securities I LLCStearns Mortgage Funding Trust 2006-AR2, AssetMortgage Pass-Backed Through Certificates, Series 2006-AC4AR2.” The Trxxxxx shall demand payment of all money payable by the related Cap Counterparty under the related Cap Contract, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class C”as applicable. On the Closing Date, the Depositor will deposit, or cause to be deposited, into The Trustee shall deposit in the Reserve Fund an amount equal all payments received by it from the related Cap Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Sections 6.01(a) and 6.01(b), all payments described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth clauses of Section 6.01(b). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and the amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund Depositshall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates, as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of CertificatesDate, the Securities Administrator Trustee shall deposit the distribute amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses Group I Certificateholders (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to other than the Holders of the Class AX Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth, Fifteenth and Seventeenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group II Offered, Class M or II-B-5 and Class B Certificates. Any payments to II-B-IO Certificateholders in accordance with the Holders of the Class ANinth, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning Tenth and Eleventh clauses of Section 860G(a)(1) of the Code6.01(b).

Reserve Fund. (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B B, Class M and Class M C Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wxxxx Xxxxx Fargo Bank, N.A. as Securities Administrator for the benefit of Holders of Bear Sxxxxxx Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 2006-AC4AC5, Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund an amount equal to the Reserve Fund Deposit. On each Distribution Date as to which there is a Basis Risk Shortfall Carry Forward Amount payable to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 6.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 6.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 6.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholder in respect of the Class C Certificates and paid by the Class C Certificateholder to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code.