Common use of CONCERNING THE GRANTOR TRUSTEE Clause in Contracts

CONCERNING THE GRANTOR TRUSTEE. 18 Section 7.01. DUTIES OF THE GRANTOR TRUSTEE....................................................18 Section 7.02. CERTAIN MATTERS AFFECTING THE GRANTOR TRUSTEE....................................20 Section 7.03. GRANTOR TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS....................21 Section 7.04. GRANTOR TRUSTEE MAY OWN CERTIFICATES.............................................21 Section 7.05. EXPENSES.........................................................................22 Section 7.06. ELIGIBILITY REQUIREMENTS FOR GRANTOR TRUSTEE.....................................22 Section 7.07. INSURANCE........................................................................22 Section 7.08. RESIGNATION AND REMOVAL OF THE GRANTOR TRUSTEE...................................22 Section 7.09. SUCCESSOR GRANTOR TRUSTEE........................................................23 Section 7.10. MERGER OR CONSOLIDATION OF GRANTOR TRUSTEE.......................................24 Section 7.11. APPOINTMENT OF CO-GRANTOR TRUSTEE OR SEPARATE GRANTOR TRUSTEE....................24 Section 7.12. FEDERAL INFORMATION RETURNS AND REPORTS TO CERTIFICATEHOLDERS; GRANTOR TRUST ADMINISTRATION.............................................................25 ARTICLE VIII TERMINATION...............................................................................28 Section 8.01. TERMINATION UPON REPURCHASE BY THE DEPOSITOR OR ITS DESIGNEE OR LIQUIDATION OF THE MORTGAGE LOANS................................................28 ARTICLE IX MISCELLANEOUS PROVISIONS..................................................................29 Section 9.01. INTENT OF PARTIES................................................................29 Section 9.02. ACTION UNDER UNDERLYING DOCUMENTS................................................29 Section 9.03. AMENDMENT........................................................................29

CONCERNING THE GRANTOR TRUSTEE. 18 17 Section 7.01. DUTIES OF THE GRANTOR TRUSTEE....................................................18 17 Section 7.02. CERTAIN MATTERS AFFECTING THE GRANTOR TRUSTEE....................................20 19 Section 7.03. GRANTOR TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS....................21 20 Section 7.04. GRANTOR TRUSTEE MAY OWN CERTIFICATES.............................................21 Section 7.05. EXPENSES.........................................................................22 21 Section 7.06. ELIGIBILITY REQUIREMENTS FOR GRANTOR TRUSTEE.....................................22 21 Section 7.07. INSURANCE........................................................................22 Section 7.08. RESIGNATION AND REMOVAL OF THE GRANTOR TRUSTEE...................................22 Section 7.09. SUCCESSOR GRANTOR TRUSTEE........................................................23 Section 7.10. MERGER OR CONSOLIDATION OF GRANTOR TRUSTEE.......................................24 23 Section 7.11. APPOINTMENT OF CO-GRANTOR TRUSTEE OR SEPARATE GRANTOR TRUSTEE....................24 23 Section 7.12. FEDERAL INFORMATION RETURNS AND REPORTS TO CERTIFICATEHOLDERS; GRANTOR TRUST ADMINISTRATION..................................................................................................................25 ARTICLE VIII TERMINATION...............................................................................28 26 Section 8.01. TERMINATION UPON REPURCHASE BY THE DEPOSITOR OR ITS DESIGNEE OR LIQUIDATION OF THE MORTGAGE LOANS................................................28 ARTICLE IX MISCELLANEOUS PROVISIONS..................................................................29 Section 9.01. INTENT OF PARTIES................................................................29 Section 9.02. ACTION UNDER UNDERLYING DOCUMENTS................................................29 Section 9.03. AMENDMENT........................................................................2926

CONCERNING THE GRANTOR TRUSTEE. 18 21 Section 7.01. DUTIES OF THE GRANTOR TRUSTEE....................................................18 ..........................21 Section 7.02. CERTAIN MATTERS AFFECTING THE GRANTOR TRUSTEE....................................20 ..........22 Section 7.03. GRANTOR TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS....................21 .........................................23 Section 7.04. GRANTOR TRUSTEE MAY OWN CERTIFICATES.............................................21 ...................24 Section 7.05. EXPENSES.........................................................................22 ...............................................24 Section 7.06. ELIGIBILITY REQUIREMENTS FOR GRANTOR TRUSTEE.....................................22 TRUSTEE ..........24 Section 7.07. INSURANCE........................................................................22 ..............................................25 Section 7.08. RESIGNATION AND REMOVAL OF THE GRANTOR TRUSTEE...................................22 TRUSTEE ........25 Section 7.09. SUCCESSOR GRANTOR TRUSTEE........................................................23 ..............................26 Section 7.10. MERGER OR CONSOLIDATION OF GRANTOR TRUSTEE.......................................24 .............26 Section 7.11. APPOINTMENT OF CO-GRANTOR TRUSTEE OR SEPARATE GRANTOR TRUSTEE....................24 ........................................27 Section 7.12. FEDERAL INFORMATION RETURNS AND REPORTS TO CERTIFICATEHOLDERS; GRANTOR TRUST ADMINISTRATION.............................................................25 .......28 ARTICLE VIII TERMINATION...............................................................................28 ..................................................29 Section 8.01. TERMINATION UPON REPURCHASE BY THE DEPOSITOR OR ITS DESIGNEE OR LIQUIDATION OF THE MORTGAGE LOANS................................................28 ......29 ARTICLE IX MISCELLANEOUS PROVISIONS..................................................................29 .....................................30 Section 9.01. INTENT OF PARTIES................................................................29 ......................................30 Section 9.02. ACTION UNDER UNDERLYING DOCUMENTS................................................29 ......................30 Section 9.03. AMENDMENT........................................................................29..............................................30 Section 9.04. RECORDATION OF AGREEMENT...............................31 Section 9.05. LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS.............31 Section 9.06. ACTS OF CERTIFICATEHOLDERS.............................32 Section 9.07. GOVERNING LAW..........................................33 Section 9.08. NOTICES................................................33 Section 9.09. SEVERABILITY OF PROVISIONS.............................34 Section 9.10. SUCCESSORS AND ASSIGNS.................................34 Section 9.11. ARTICLE AND SECTION HEADINGS...........................34 Section 9.12. COUNTERPARTS...........................................34 Section 9.13. NOTICE TO RATING AGENCIES..............................34 Section 9.14. ENFORCEMENT OF RIGHTS..................................34 Exhibit A GRANTOR TRUST CLASS III-A-1 CERTIFICATE Exhibit B COPY OF UNDERLYING CERTIFICATES Exhibit C SWAP AGREEMENT Exhibit D UNDERLYING POOLING AND SERVICING AGREEMENT GRANTOR TRUST AGREEMENT Grantor Trust Agreement, dated March 31, 2006, between Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor") and Xxxxx Fargo Bank, National Association, as grantor trustee (the "Grantor Trustee").

CONCERNING THE GRANTOR TRUSTEE. 18 17 Section 7.01. DUTIES OF THE GRANTOR TRUSTEE....................................................18 17 Section 7.02. CERTAIN MATTERS AFFECTING THE GRANTOR TRUSTEE....................................20 18 Section 7.03. GRANTOR TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS....................21 20 Section 7.04. GRANTOR TRUSTEE MAY OWN CERTIFICATES.............................................21 20 Section 7.05. EXPENSES.........................................................................22 20 Section 7.06. ELIGIBILITY REQUIREMENTS FOR GRANTOR TRUSTEE.....................................22 21 Section 7.07. INSURANCE........................................................................22 21 Section 7.08. RESIGNATION AND REMOVAL OF THE GRANTOR TRUSTEE...................................22 21 Section 7.09. SUCCESSOR GRANTOR TRUSTEE........................................................23 22 Section 7.10. MERGER OR CONSOLIDATION OF GRANTOR TRUSTEE.......................................24 23 Section 7.11. APPOINTMENT OF CO-GRANTOR TRUSTEE OR SEPARATE GRANTOR TRUSTEE....................24 23 Section 7.12. FEDERAL INFORMATION RETURNS AND REPORTS TO CERTIFICATEHOLDERS; GRANTOR TRUST ADMINISTRATION.............................................................25 .....................................................24 ARTICLE VIII TERMINATION...............................................................................28 25 Section 8.01. TERMINATION UPON REPURCHASE BY THE DEPOSITOR OR ITS DESIGNEE OR LIQUIDATION OF THE MORTGAGE LOANS................................................28 25 ARTICLE IX MISCELLANEOUS PROVISIONS..................................................................29 26 Section 9.01. INTENT OF PARTIES................................................................29 26 Section 9.02. ACTION UNDER UNDERLYING DOCUMENTS................................................29 26 Section 9.03. AMENDMENT........................................................................26 Section 9.04. RECORDATION OF AGREEMENT.........................................................27 Section 9.05. LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS.......................................28 Section 9.06. ACTS OF CERTIFICATEHOLDERS.......................................................28 Section 9.07. GOVERNING LAW....................................................................29 Section 9.08. NOTICES..........................................................................29

CONCERNING THE GRANTOR TRUSTEE. 18 Section 7.01. DUTIES OF THE GRANTOR TRUSTEE....................................................18 Section 7.02. CERTAIN MATTERS AFFECTING THE GRANTOR TRUSTEE....................................20 Section 7.03. GRANTOR TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS....................21 Section 7.04. GRANTOR TRUSTEE MAY OWN CERTIFICATES.............................................21 Section 7.05. EXPENSES.........................................................................22 Section 7.06. ELIGIBILITY REQUIREMENTS FOR GRANTOR TRUSTEE.....................................22 Section 7.07. INSURANCE........................................................................22 Section 7.08. RESIGNATION AND REMOVAL OF THE GRANTOR TRUSTEE...................................22 Section 7.09. SUCCESSOR GRANTOR TRUSTEE........................................................23 Section 7.10. MERGER OR CONSOLIDATION OF GRANTOR TRUSTEE.......................................24 Section 7.11. APPOINTMENT OF CO-GRANTOR TRUSTEE OR SEPARATE GRANTOR TRUSTEE....................24 Section 7.12. FEDERAL INFORMATION RETURNS AND REPORTS TO CERTIFICATEHOLDERS; GRANTOR TRUST ADMINISTRATION..................................................................................................................25 ARTICLE VIII TERMINATION...............................................................................28 Section 8.01. TERMINATION UPON REPURCHASE BY THE DEPOSITOR OR ITS DESIGNEE OR LIQUIDATION OF THE MORTGAGE LOANS................................................28 ARTICLE IX MISCELLANEOUS PROVISIONS..................................................................29 Section 9.01. INTENT OF PARTIES................................................................29 Section 9.02. ACTION UNDER UNDERLYING DOCUMENTS................................................29 Section 9.03. AMENDMENT........................................................................2929 Section 9.04. RECORDATION OF AGREEMENT.........................................................30 Section 9.05. LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS.......................................30 Section 9.06. ACTS OF CERTIFICATEHOLDERS.......................................................31 Section 9.07. GOVERNING LAW....................................................................32 Section 9.08. NOTICES..........................................................................32 Section 9.09. SEVERABILITY OF PROVISIONS.......................................................33 Section 9.10. SUCCESSORS AND ASSIGNS...........................................................33 Section 9.11. ARTICLE AND SECTION HEADINGS.....................................................33 Section 9.12. COUNTERPARTS.....................................................................33 Section 9.13. NOTICE TO RATING AGENCIES........................................................33 Section 9.14. ENFORCEMENT OF RIGHTS............................................................33 Exhibit A FORM OF CERTIFICATES Exhibit B-1 COPY OF UNDERLYING CLASS I-A-3 CERTIFICATE Exhibit B-2 COPY OF UNDERLYING CLASS II-A-2B CERTIFICATE Exhibit C FORM OF SWAP AGREEMENT Exhibit D UNDERLYING POOLING AND SERVICING AGREEMENT GRANTOR TRUST AGREEMENT Grantor Trust Agreement, dated as of April 30, 2007, between Structured Asset Mortgage Investments II Inc., a Delaware corporation, as depositor (the "Depositor") and Xxxxx Fargo Bank, National Association, a national banking association, as grantor trustee (the "Grantor Trustee").