0001136999-07-000736 Sample Contracts

EMC MORTGAGE CORPORATION Purchaser, FIRST TENNESSEE MORTGAGE SERVICES, INC. Servicer, FIRST HORIZON HOME LOAN CORPORATION
Purchase, Warranties and Servicing Agreement • April 2nd, 2007 • SACO I Trust 2006-5 • Asset-backed securities • New York

This is a Purchase, Warranties and Servicing Agreement, dated as of September 1, 2003 and is executed among EMC MORTGAGE CORPORATION, as Purchaser, with offices located at Mac Arthur Ridge II, 909 Hidden Ridge Drive, Suite 200, Irving, Texas 75038 (the "Purchaser"), FIRST TENNESSEE MORTGAGE SERVICES, INC., as servicer (the “Servicer”) with offices located at 4000 Horizon Way, Irving, Texas 75063 and FIRST HORIZON HOME LOAN CORPORATION, as seller (the “Seller”) with offices located at 4000 Horizon Way, Irving, Texas 75063 (the Servicer and the Seller together referred to as the "Company").

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ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement • April 2nd, 2007 • SACO I Trust 2006-5 • Asset-backed securities • New York

This Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) is made and entered into as of April 28, 2006 (the “Closing Date”), among EMC Mortgage Corporation (the “Assignor”), Citibank, N.A., not individually but solely as trustee for the holders of SACO I Trust 2006-5, Mortgage Pass-Through Certificates, Series 2006-5 (the “Assignee”) and GMAC Mortgage Corporation (the “Company”).

ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement • April 2nd, 2007 • SACO I Trust 2006-5 • Asset-backed securities • New York

This is an Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) made as of April 28, 2006, among EMC Mortgage Corporation (the “Assignor”), Citibank, N.A., not individually but solely as trustee for the holders of the SACO I Trust 2006-5, Mortgage Pass-Through Certificates, Series 2006-5 (the “Assignee”) and First Tennessee Mortgage Services, Inc. (the “Company”).

AMENDMENT NO. 2 TO PURCHASE, WARRANTIES AND SERVICING AGREEMENT
Purchase, Warranties and Servicing Agreement • April 2nd, 2007 • SACO I Trust 2006-5 • Asset-backed securities

THIS AMENDMENT NO. 2, effective as of June 16, 2005, amends the Purchase, Warranties and Servicing Agreement among EMC Mortgage Corporation (the “Purchaser”), First Tennessee Mortgage Services, Inc., as servicer (the “Servicer”) and First Horizon Home Loan Corporation (the “Seller”, and together with the Servicer, the “Company”), previously entered into as of September 1, 2003 (the “Agreement”), as previously amended.

AMENDMENT NO. 3 TO PURCHASE, WARRANTIES AND SERVICING AGREEMENT
Purchase, Warranties and Servicing Agreement • April 2nd, 2007 • SACO I Trust 2006-5 • Asset-backed securities

THIS AMENDMENT NO. 3, effective as of August 8, 2005, amends the Purchase, Warranties and Servicing Agreement among EMC Mortgage Corporation (the “Purchaser”), First Tennessee Mortgage Services, Inc., as servicer (the “Servicer”) and First Horizon Home Loan Corporation (the “Seller”, and together with the Servicer, the “Company”), previously entered into as of September 1, 2003 (the “Agreement”), as previously amended.

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