STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., DEPOSITOR DEUTSCHE BANK NATIONAL TRUST COMPANY TRUSTEE WELLS FARGO BANK, NATIONAL ASSOCIATION, MASTER SERVICER AND SECURITIES ADMINISTRATOR and MORTGAGEIT, INC. SELLER AND COMPANY AMENDMENT NO. 1 dated as...
STRUCTURED
ASSET MORTGAGE INVESTMENTS II INC.,
DEPOSITOR
DEUTSCHE
BANK NATIONAL TRUST COMPANY
TRUSTEE
XXXXX
FARGO BANK, NATIONAL ASSOCIATION,
MASTER
SERVICER AND SECURITIES ADMINISTRATOR
and
MORTGAGEIT,
INC.
SELLER
AND COMPANY
_________________________________
AMENDMENT
NO. 1 dated as of
June
19,
2006 to the
Dated
as
of November 1, 2005
_________________________________
STRUCTURED
ASSET MORTGAGE INVESTMENTS II INC.
MortgageIT
Trust 2005-AR1,
Mortgage
Pass-Through Certificates, Series 2005-AR1
AMENDMENT
NO. 1 made as of this 19 day of June 2006, among Structured Asset Mortgage
Investments II Inc., as depositor (the “Depositor”), Xxxxx Fargo Bank, N.A, as
master servicer (the “Master Servicer”) and securities administrator (the
“Securities Administrator”), Deutsche Bank National Trust Company, as trustee
(the “Trustee”) and MortgageIT, Inc., as seller (the “Seller”) and company (the
“Company”).
W
I T N E
S S E T H
WHEREAS,
the Depositor, the Trustee, the Master Servicer, the Securities Administrator,
the Seller and the Company have entered into a Pooling and Servicing Agreement
(the “Agreement”) dated as of November 1, 2005, relating to the issuance of
MortgageIT Trust 2005-AR1 Mortgage Pass-Through Certificates, Series 2005-AR1;
and
WHEREAS,
the Depositor, the Trustee, the Master Servicer, the Securities Administrator,
the Seller and the Company desire to amend the terms of the Agreement to correct
any mistake or cure any ambiguity pursuant to and in accordance with Section
11.02(a) of the Agreement.
NOW,
THEREFORE, in consideration of the mutual premises and agreements herein, the
Depositor, the Trustee, the Master Servicer, the Securities Administrator,
the
Seller and the Company agree as follows:
1. Capitalized
terms used herein and not defined herein shall have the meanings assigned to
such terms in the Agreement.
2. Section
3.15(a) shall be deleted in its entirety and replaced with the
following:
“In
the
event the Trust Fund acquires ownership of any REO Property in respect of any
related Mortgage Loan, the deed or certificate of sale shall be issued to the
Trustee, or to its nominee, on behalf of the related Certificateholders. The
Master Servicer shall, to the extent provided in the Servicing Agreement, cause
the Servicer to sell, any REO Property as expeditiously as possible and in
accordance with the provisions of this Agreement and the Servicing Agreement,
as
applicable. Pursuant to its efforts to sell such REO Property, the Master
Servicer shall cause the Servicer to protect and conserve, such REO Property
in
the manner and to the extent required by the Servicing Agreement, in accordance
with the REMIC Provisions and in a manner that does not result in a tax on
“net
income from foreclosure property” or cause such REO Property to fail to qualify
as “foreclosure property” within the meaning of Section 860G(a)(8) of the
Code.”
IN
WITNESS WHEREOF, the Depositor, the Trustee, the Master Servicer, the Servicer,
the Securities Administrator and the Seller 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
By:
/s/ Xxxxx Xxxxxxxxxxx
Name:
Xxxxx Xxxxxxxxxxx
Title:
Vice President
DEUTSCHE
BANK NATIONAL TRUST COMPANY, as Trustee
By:
/s/ Xxxxxxx
Xxxxxxxx
Name:
Xxxxxxx Xxxxxxxx
Title:
Vice President
XXXXX
FARGO BANK, NATIONAL ASSOCIATION, as Master Servicer
By:
/s/ Xxxx
Xxxxxxx
Name:
Xxxx Xxxxxxx
Title:
Vice President
XXXXX
FARGO BANK, NATIONAL ASSOCIATION, as Securities Administrator
By:
/s/ Xxxx
Xxxxxxx
Name:
Xxxx Xxxxxxx
Title:
Vice President
MORTGAGEIT,
INC. as Seller
By:
/s/ Xxxxxx X.
Xxxx
Name:
Xxxxxx X. Xxxx
Title:
Chief Financial Officer
MORTGAGEIT,
INC.
as
Company
By:
/s/ Xxxxxx X.
Xxxx
Name:
Xxxxxx X. Xxxx
Title:
Chief Financial Officer
