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Cognitive radio and femtocells are recent technology breakthroughs that aim at achieving throughput improvement by means of spectrum management and interference mitigation, respectively. However, these technologies are limited by the former's susceptibility to interference and the latter's dependence on bandwidth availability. In this paper, we overcome these limitations by integrating cognitive radio and femtocell technology and explore the byproduct's feasibility and throughput improvement. To realize this, we propose an integrated architecture and optimization framework based on power control, coverage assignment, and compensation schemes. Based on numerical results, the optimization framework is found to be both stable and converging. Simulation studies further show that the proposed architecture and optimization framework improves the aggregate throughput as the client population rises, hence confirming the successful and beneficial integration of these technologies.