Common use of Conveyance of Mortgage Loans; Acceptance of REMIC I and Additional Interest Grantor Trust by Trustee Clause in Contracts

Conveyance of Mortgage Loans; Acceptance of REMIC I and Additional Interest Grantor Trust by Trustee. The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to (a) the Mortgage Loans (other than any Additional Interest related thereto) and the other property comprising REMIC I to the Trustee for the benefit of the Holders of the Class R-I Certificates (in respect of the residual interest in REMIC I) and REMIC II as the holder of the REMIC I Regular Interests and (b) the Additional Interest and the other property comprising the Additional Interest Grantor Trust to the Trustee for the benefit of the Holders of the Class Z Certificates. The Trustee acknowledges the assignment to it of the Mortgage Loans and the other property comprising REMIC I and the Additional Interest Grantor Trust, and declares that it holds and will hold the same in trust for the exclusive use and benefit of REMIC II as the holder of the REMIC I Regular Interests and present and future holders of the Certificates (other than the Class Z Certificates) and, as to the Additional Interest Grantor Trust, for the benefit of the Holders of the Class Z Certificates.

Conveyance of Mortgage Loans; Acceptance of REMIC I and Additional Interest Grantor Trust by Trustee. The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to (a) the Mortgage Loans (other than any Additional Interest related thereto) and the other property comprising REMIC I to the Trustee for the benefit of the Holders of the Class R-R I Certificates (in respect of the residual interest in REMIC I) and REMIC II as the holder of the REMIC I Regular Interests and (b) the Additional Interest and the other property comprising the Additional Interest Grantor Trust to the Trustee for the benefit of the Holders of the Class Z Certificates. The Trustee acknowledges the assignment to it of the Mortgage Loans and the other property comprising REMIC I and the Additional Interest Grantor Trust, and declares that it holds and will hold the same in trust for the exclusive use and benefit of REMIC II as the holder of the REMIC I Regular Interests and present and future holders of the Certificates (other than the Class Z Certificates) and, as to the Additional Interest Grantor Trust, for the benefit of the Holders of the Class Z Certificates.