AMENDMENT NUMBER ONE to the POOLING AND SERVICING AGREEMENT LUMINENT MORTGAGE TRUST 2006-3, Dated as of April 1, 2006 among STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., as Depositor LUMINENT MORTGAGE CAPITAL, INC., as Sponsor WELLS FARGO BANK,...
AMENDMENT
NUMBER ONE
to
the
Dated
as
of April 1, 2006
among
STRUCTURED
ASSET MORTGAGE INVESTMENTS II INC.,
as
Depositor
LUMINENT
MORTGAGE CAPITAL, INC.,
as
Sponsor
XXXXX
FARGO BANK, NATIONAL ASSOCIATION,
as
Master
Servicer and Securities Administrator
and
HSBC
BANK
USA, NATIONAL ASSOCIATION,
as
Trustee
This
AMENDMENT NUMBER ONE is made and entered into this 12th
day of
January, 2007, by and among STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.,
a
Delaware limited liability company, as depositor (the “Depositor”), LUMINENT
MORTGAGE CAPITAL, INC., a Maryland corporation and real estate investment trust
(the “Sponsor”), XXXXX FARGO BANK, NATIONAL ASSOCIATION, a national banking
association, as master servicer (in such capacity, the “Master Servicer”) and as
securities administrator (in such capacity, the “Securities Administrator”) and
HSBC BANK USA, NATIONAL ASSOCIATION, a national banking association, as trustee
(the “Trustee”), in connection with the Pooling and Servicing Agreement, dated
as of April 1, 2006, among the above-mentioned parties (the “Agreement”), and
the issuance of Mortgage-Pass Through Certificates, Series 2006-3. This
amendment is made pursuant to Section 11.01 of the Agreement.
1. Capitalized
terms used herein and not defined herein shall have the meanings assigned to
such terms in the Agreement.
2. Section
1.01 of the Agreement is hereby amended by deleting the definition of
“Delinquent” in its entirety and replacing it with the following:
Delinquent:
A
Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to
the terms of such Mortgage Loan by the close of business on the day such payment
is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment
has not been received by the close of business on the last day of the month
in
which such payment was due. For example, a Mortgage Loan with a payment due
on
December 1 that remained unpaid as of the close of business on December 31
would
then be considered to be 30 to 59 days delinquent. Similarly for “60 days
delinquent,” “90 days delinquent” and so on. The determination as to
whether a Mortgage Loan falls into these categories is made as of the close
of
business on the last Business Day of each month. This method of determining
delinquencies is also referred to as the MBA method.
3. Section
5.06(a)(xiii) of the Agreement is hereby amended by deleting “[reserved];” and
replacing it with the following:
information
regarding any Mortgage Loan delinquencies as of the end of the previous calendar
month, including the aggregate number and aggregate Outstanding Principal
Balance of Mortgage Loans using the MBA method of calculation (a) Delinquent
30
to 59 days on a contractual basis, (b) Delinquent 60 to 89 days on a contractual
basis, and (c) Delinquent 90 or more days on a contractual basis, in each case
as of the close of business on the last Business Day of the immediately
preceding month;
4. Except
as
amended above, the Agreement shall continue to be in full force and effect
in
accordance with its terms.
[Signature
Page Follows]
IN
WITNESS WHEREOF, the Depositor, the Master Servicer, the Sponsor, the Securities
Administrator and the Trustee have caused their names to be signed hereto by
their respective officers thereunto duly authorized as of the day and year
first
above written.
STRUCTURED
ASSET MORTGAGE INVESTMENTS II INC.,
as
Depositor
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By:
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/s/
Xxxxx Xxxxxxxxxxx
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Name:
Xxxxx Xxxxxxxxxxx
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Title:
Vice President
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LUMINENT
MORTGAGE CAPITAL, INC.,
as
Sponsor
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By:
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/s/
Xxxxxxxxxxx X. Xxxx
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Name:
Xxxxxxxxxxx X. Xxxx
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Title:
Chief Financial Officer
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XXXXX
FARGO BANK, NATIONAL
ASSOCIATION,
as
Securities Administrator and Master Servicer
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By:
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/s/
Xxxxx Xxxxxxxx
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Name:
Xxxxx Xxxxxxxx
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Title:
Vice President
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HSBC
BANK USA, NATIONAL ASSOCIATION,
as
Trustee
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By:
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/s/
Xxxxx Xxxxx
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Name:
Xxxxx Xxxxx
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Title:
Assistant Vice President
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