Common use of Designation of Interests in REMIC Clause in Contracts

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, to pay principal on the Class 1 in amount equal to 132% of the amount allocated to the Class A-6F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F Turbo"), second, to pay interest to Class 1 and third, to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class 2. An amount equal to 132% of the A-6F Turbo will be added (as accrued interest) to the principal balance of Class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class 3. All Realized Losses on Loan Group F will be allocated first, to Class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: Corresponding Class of Certificates(1) -------------------------------- REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Rate Principal Interest 1 $ 47,520,000 (2) (3) (4) 2 $312,480,000 (2) (3) (5) 3 $ 85,000,000 (6) (3) (5) (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group F and Certificate Group A as described in Article 5. (4) 757.57 basis points of interest on the principal balance of this class will be allocated to the Class IOF Certificate and interest in excess of such amount will be allocated to the Certificate Group F (other than the Class IOF) and Certificate Group A as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group F as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate and the Trustee Fee Rate.

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount from Loan Group F will be used to pay principal on the class 1 described below in an amount equal the amount distributed to the Class A-5F Certificates pursuant to Section 5.01(b) herein and Excess Funding any remaining Basic Principal Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, used (1) to pay principal on the Class class 1 in amount equal to 132% of the amount allocated to the Class A-6F A-5F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F A-5F Turbo"), second, (2) to pay interest to Class class 1 and third, (3) to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class class 2. An The amount equal to 132% of the A-6F A-5F Turbo will be added (as accrued interest) to the principal balance of Class class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class class 3. All Realized Losses on Loan Group F will be allocated first, to Class class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. class 3 The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: Corresponding Class of Certificates(1) -------------------------------- ---------------------------------- Allocation Allocation REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Regular Interests Initial Balance Rate Principal Interest ----------------- --------------- ------------ --------- -------- 1 $ 47,520,000 31,500,000 (2) (3) (4) 2 $312,480,000 283,500,000 (2) (3) (5) 3 $ 85,000,000 (6) (3) (5)) ------------------ (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group F and Certificate Group A as described in Article 5. (4) 757.57 650 basis points of the interest on the principal balance of this class will be allocated to the Class IOF A-5IO Certificate and interest in excess of such amount 650 basis points will be allocated to the Certificate Group F (other than the Class IOFA-5IO) and Certificate Group A as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group F as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate and the Trustee Fee Rate.

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount from Loan Group F will be used to pay principal on the class 1 described below in an amount equal the amount distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein and Excess Funding any remaining Basic Principal Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, used (1) to pay principal on the Class class 1 in amount equal to 132% of the amount allocated to the Class A-6F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F Turbo"), second, (2) to pay interest to Class class 1 and third, (3) to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class class 2. An The amount equal to 132% of the A-6F Turbo will be added (as accrued interest) to the principal balance of Class class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class class 3. All Realized Losses on Loan Group F will be allocated first, to Class class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. class 3 The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: [CAPTION] Corresponding Class of Certificates(1) -------------------------------- ----------------------------------------------- REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Interests Balance Rate Principal Interest --------- ------- ------------- ----------- ----------- 1 $ 47,520,000 $26,500,000 (2) (3) (4) 2 $312,480,000 238,500,000 (2) (3) (5) 3 $ 85,000,000 $75,000,000 (6) (3) (5) (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group F and Certificate Group A as described in Article 5. (4) 757.57 650 basis points of the interest on the principal balance of this class will be allocated to the Class IOF A-6IO Certificate and interest in excess of such amount 650 basis points will be allocated to the Certificate Group F (other than the Class IOFA-6IO) and Certificate Group A as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group F as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate and the Trustee Fee Rate.

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-non- transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, to pay principal on the Class 1 in amount equal to 132% of the amount allocated to the Class A-6F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F Turbo"), second, to pay interest to Class 1 and third, to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class 2. An amount equal to 132% of the A-6F Turbo will be added (as accrued interest) to the principal balance of Class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class 3. All Realized Losses on Loan Group F will be allocated first, to Class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: Corresponding Class of Certificates(1) -------------------------------- --------------------------------- REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Interests Balance Rate Principal Interest Principal 1 $ 47,520,000 $83,709,000 (2) (3) (4A-1 A-1(3) 2 $312,480,000 54,267,000 (2) (3) (5A-2 A-2(4) 3 $ 85,000,000 $14,084,000 (62) A-3 A-3(5) 4 $10,374,000 (32) A-4 A-4(6) 5 $11,966,000 (5)2) A-5 A-5(7) 6 $23,600,000 (2) A-6 A-6(8) __________________ (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest Interests 1 through 6 for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F 1 less the sum of the Servicing Fee Rate, the Trustee Fee Rate and the Trustee Fee RatePremium Percentage. (3) Principal will Interest shall be allocated between this Class and the Class S-1 Component in proportion to the Certificate Group F Rate applicable to this Class and Certificate Group A as described in Article 5the related Strip Rate. (4) 757.57 basis points of interest on the principal balance of this class will Interest shall be allocated to between this Class and the Class IOF Certificate and interest S-2 Component in excess of such amount will be allocated proportion to the Certificate Group F (other than Rate applicable to this Class and the Class IOF) and Certificate Group A as described in Article 5related Strip Rate. (5) Interest will shall be allocated between this Class and the Class S-3 Component in proportion to the Certificate Group A Rate applicable to this Class and Certificate Group F as described in Article 5the related Strip Rate. (6) The pass-through rate on Interest shall be allocated between this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate Class and the Trustee Fee Class S-4 Component in proportion to the Certificate Rate applicable to this Class and the related Strip Rate. (7) Interest shall be allocated between this Class and the Class S-5 Component in proportion to the Certificate Rate applicable to this Class and the related Strip Rate. (8) Interest shall be allocated between this Class and the Class S-6 Component in proportion to the Certificate Rate applicable to this Class and the related Strip Rate.

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated certificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount and Excess Funding Amount from Loan Group F A will be used to pay principal on the Class class 1 described below in an amount equal to 132120% of such amounts the amount distributed to the Class A-6F A-6 Certificates pursuant to Section 5.01(b) herein, herein and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class class 2 described below. The Basic Principal Amount from Loan Group B will be used to pay principal on the class 3 described below. The Interest Remittance Amount for Loan Group F A will be used, first, used (1) to pay principal on the Class class 1 in amount equal to 132120% of the amount allocated to the Class A-6F Certificates A-6 pursuant to Section 5.01(a)A.(iv5.01(a)(C)(ii) (the "A-6F A-6 Turbo"), second, (2) to pay interest to Class class 1 and third, (3) to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class class 2. An The amount equal to 132% of the A-6F A-6 Turbo will be added (as accrued interest) to the principal balance of Class class 2. The Interest Remittance Amount from Loan Group A B will be used to pay interest on the Class class 3. All Realized Losses on Loan Group F will be allocated first, to Class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. class 2 and all Realized Losses on Loan Group B will be allocated to class 3 The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: Corresponding Class of Certificates(1) -------------------------------- ----------------------------------------------- Allocation Allocation REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Regular Interests Balance Rate Principal Interest -------------------- ---------------- ------------ ---------- ------------ 1 $ 47,520,000 21,000,000 (2) (3) (4) 2 $312,480,000 189,000,000 (2) (3) (5) 3 $ 85,000,000 50,000,000 (6) (3) (5) (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group F and Certificate Group A as described in Article 5. (4) 757.57 basis points of interest on the principal balance of this class will be allocated to the Class IOF Certificate and interest in excess of such amount will be allocated to the Certificate Group F (other than the Class IOF) and Certificate Group A as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group F as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group A and Certificate Group B as described in Article 5. (4) 650 basis points of the interest on this class will be allocated to the Class A-IO Certificate and interest in excess of 650 basis points will be allocated to the Certificate Group A (other than the Class A-IO) and Certificate Group B as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group B as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group B less the sum of the Servicing Fee Rate and the Trustee Fee Rate.

Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, to pay principal on the Class 1 in amount equal to 132% of the amount allocated to the Class A-6F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F Turbo"), second, to pay interest to Class 1 and third, to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class 2. An amount equal to 132% of the A-6F Turbo will be added (as accrued interest) to the principal balance of Class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class 3. All Realized Losses on Loan Group F will be allocated first, to Class 2 class 1 and second, to Class 1, -IO and all Realized Losses on Loan Group A will be allocated to class 3 and 3-IO (and between the class 1 and class 1-IO and between the class 3 and class 3-IO in accordance with the way the losses are allocated between their corresponding classes (and in the case of losses allocable to Class M-1F or Class B-1A first to class 1 or class 3, respectively)). The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: - 57 - Corresponding Class of Certificates(1) -------------------------------- ---------------------------- REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Interests Balance Rate Principal Interest 1 $ 47,520,000 --------- ------- ------------ --------- ---------- 1-IO $50,050,000 (2) (3) (4) 2 1 $312,480,000 257,950,000 (2) (3) (5) 3-IO $10,120,000 (6) (3) (7) 3 $ 85,000,000 $81,880,000 (6) (3) (5)) ----------------- (1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMIC I after payment of the REMIC I Regular Interests and any expenses shall be allocable to the Class R-1 Certificates. (2) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group F less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (3) Principal will be allocated to the Certificate Group F as described in Article 5 will be distributed on class 1, except that principal payable on Class A-6F and the last $3,850,000 on Class M-1F shall be distributed on class 1-IO. Principal allocated to Certificate Group A as described in Article 55 will be distributed on class 3, except that principal payable on Classes M-1A and M-2A and the last $1,794,000 of the Class B-1A shall be distributed to on the class 3-IO. (4) 757.57 700 basis points of the interest on the principal balance of this class will be allocated to the Class IOF Certificate and interest in excess of such amount 700 basis points will be allocated to the Certificate Group F (other than the Class IOF) and Certificate Group A as described in Article 5. (5) Interest will be allocated to the Certificate Group A and Certificate Group F as described in Article 5. (6) The pass-through rate on this REMIC I Regular Interest for any Distribution Date shall equal the weighted average of the Loan Rates on the Mortgage Loans in Loan Group A less the sum of the Servicing Fee Rate and the Trustee Fee Rate. (7) 680 basis points of the interest on this Class will be allocated to the Class IOA Certificate and interest in excess of 680 basis points will be allocated to the Certificate Group A (other than the Class IOA) as described in Article 5.