Common use of Designation of REMIC(s) Clause in Contracts

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-1 Certificates, Class A-2A-2 Certificates, Class A-3A-3 Certificates, Class A-4M-1 Certificates, Class A-5M-2 Certificates, Class A-6M-3 Certificates, Class A-PM-4 Certificates, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 M-5 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in SB-IO and to which will be represented by the Class ASB-V Certificates, PO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage LoansLoans but excluding the Initial Monthly Payment Fund) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates and Class M-7 Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool HELs in Loan Group I and the proceeds of assets described the HELs in Loan Group I on deposit in the definition of Trust FundDistribution Account, the Custodial Account and subject to this Agreement (including the Mortgage Loans) Payment Account as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. Further, the REMIC Administrator shall make an election to treat the pool of assets comprised of the REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. On The REMIC III Regular Interests will be "regular interests" in REMIC III and after the date Class R-III Certificates will be the sole class of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under the federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund and the Yield Maintenance Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests, and subject to this Agreement, as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC II Regular Interests SB-IO and SB-PO, and subject to this Agreement, as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class Class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1I-A Certificates, Class A-2II-A Certificates, Class A-3III-A Certificates, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 M Certificates and Class B-3 X Certificates will represent ownership of, and the Uncertificated REMIC II Regular Interests ZSB-IO and SB-PO will be, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class Class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class SB Certificates will represent ownership of the REMIC III Regular Interest, the single "regular interest" in REMIC III, and the Class R-X Certificates will be the sole Class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date The Class P Certificates will not represent ownership of issuance of an interest in any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionREMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R-1 Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and Component II of the Class R-II R-1 Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates and Class M-5 Certificates, and Component III of the Class R-1 Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4A-4 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Zwill be the "regular interests" in REMIC II, the rights in and to ownership of which will be represented by the Class A-V A-1 Certificates, will be "regular interests" in REMIC IIClass A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates and Class SB Certificates, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R-1 Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and Component II of the Class R-II R-1 Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and Class M-6 Certificates, and Component III of the Class R-1 Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate (but excluding the Pre-Funding Account and the Capitalized Interest Account), and subject to this Agreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.[Signature Page Follows]

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("“REMIC I") and will ”), shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I Regular Interests as a REMIC ("“REMIC II"”) for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II Regular Interests as a REMIC (“REMIC III”) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "“regular interests" ” in REMIC I and the Class R-I Certificates will be the sole class of "“residual interests" ” in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be “regular interests” in REMIC II, and the Class R-II Certificates will be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-PA-7, Class A-8, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "“regular interests" ” in REMIC IIIII, and the Class R-II III Certificates will be the sole class of "“residual interests" ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AMB Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class B Certificates and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund and the Final Maturity Reserve Account), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-1 Certificates, Class A-2A-2 Certificates, Class A-3A-3 Certificates, Class A-4M-1 Certificates, Class A-5M-2 Certificates, Class A-6M-3 Certificates, Class A-PM-4 Certificates, Class M-1M-5 Certificates, Class M-2M-6 Certificates, Class M-3M-7 Certificates, Class B-1M-8 Certificates, Class B-2 and Class B-3 M-9 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in SB-PO and to which will be represented by the Class ASB-V Certificates, IO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1, Class A-2, Class A-3X-0, Xxxxx X-0, Class A-4, Class A-5, Class A-6, Class A-PX, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent "regular interests" in REMIC II, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans ), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A, Class A-2M-1 Certificates, Class A-3M-2 Certificates, Class A-4M-3 Certificates, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 M-4 Certificates and Class B-3 Certificates M-5 Certificates, and the Uncertificated REMIC II Regular Interests Z, the rights in SB-PO and to which will be represented by the Class ASB-V Certificates, IO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interest will be the single "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates and Class M-9 Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement, the SB-AMB Swap Agreement and the Yield Maintenance Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO, IO and P as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO, IO and P, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 and Class B Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates and after Class P Certificates, and the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4X, Class A-5X-0, Class A-6, Class A-P, Class M-1, Class M-2Xxxxx X-0, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent "regular interests" in REMIC II, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans ), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-1 Certificates, Class A-2A-1-a Certificates, Class A-3A-2 Certificates, Class A-4A-3 Certificates, Class A-5M-1 Certificates, Class A-6M-2 Certificates, Class A-PM-3 Certificates, Class M-1M-4 Certificates, Class M-2M-5 Certificates, Class M-3M-6 Certificates, Class B-1M-7 Certificates, Class B-2 M-8 Certificates, Class M-9 Certificates, and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in SB-PO and to which will be represented by the Class ASB-V Certificates, IO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interest will be the single "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool HELs in Loan Group I and the proceeds of assets described the HELs in Loan Group I and the proceeds of the Group I Policy on deposit in the definition of Trust FundDistribution Account, the Custodial Account and subject to this Agreement (including the Mortgage Loans) Payment Account as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. Further, the REMIC Administrator shall make an election to treat the pool of assets comprised of the REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. On The REMIC III Regular Interests will be "regular interests" in REMIC III and after the date Class R-III Certificates will be the sole class of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under the federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC III Regular Interests as a REMIC (REMIC IV) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC IV Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC V) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which, except in the case of REMIC IV Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class M-10 Certificates, and the Class R-IV Certificates will represent the sole class of "residual interests" in REMIC IV for purposes of the REMIC Provisions under federal income tax law. On The REMIC V Regular Interests will be the "regular interests" in REMIC V, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder V for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law. Section 10.04.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund and the Class P Reserve Account), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund and the Class P Reserve Account), as a REMIC ("REMIC II") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests (excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund and the Class P Reserve Account), as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will represent ownership of the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The Class I-A-1 (exclusive of rights to receive Carryover Shortfall Amounts, including such amounts payable under any Yield Maintenance Agreement), Class I-A-2 (exclusive of rights to receive Carryover Shortfall Amounts, including such amounts payable under any Yield Maintenance Agreement), Class I-A-IO, Class II-A-1, Class II-A-2, Class A-3II-A-IO, Class A-4III-A-1, Class A-5III-A-2, Class A-6, Class III-A-PIO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent ownership of "regular interests" in REMIC II, III and the Class R-II III Certificates will be represent ownership of the sole class of "residual interests" therein in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax lawProvisions. On and after the date The Class P Certificates will not represent ownership of issuance of an interest in any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionREMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Swap Account, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class M-10 Certificates and Class SB Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Securities Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC 1, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("“REMIC I") and will 1”), shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I 1 Regular Interests as a REMIC ("“REMIC II"2”) for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC 2 Regular Interests as a REMIC (“REMIC 3”) for federal income tax purposes. The Uncertificated REMIC I 1 Regular Interests will be "“regular interests" ” in REMIC I 1 and the Class R-I R-1 Interest of the Class R Certificates will be the sole class of "“residual interests" ” in REMIC I 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II 2 Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "“regular interests" ” in REMIC II2, and the Class R-II R-2 Interest of the Class R Certificates will be the sole class of "“residual interests" ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The Uncertificated REMIC 3 Regular Interests, the ownership of which is evidenced by the Exchangeable and after Exchanged Certificates, as the date of issuance of any Subclass of case may be, the Class I-A-V Certificates pursuant to Section 5.01(c)I, any such Subclass Class I-A-2, Class II-A-4, Class III-A-5, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates, will represent the Uncertificated be “regular interests” in REMIC II Regular 3 and Class R-3 Interest or Interests Z specified by the initial Holder of the Class A-V R Certificates pursuant to said Sectionwill be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election elections to treat the entire segregated pool each of assets described in the definition of Trust FundREMIC I, REMIC II and REMIC III and subject to this Agreement (including the Mortgage LoansLoans but excluding the Auction Proceeds Account and the Swap Proceeds Account) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will shall be designated as the "regular interests" in REMIC I and the Class R-I Certificates will Interest shall be designated as the sole class of "residual interests" in REMIC I for purposes I.. The Uncertificated REMIC II Regular Interests shall be designated as the "regular interests" and the Class R-II Interest shall be designated as the sole class of the "residual interests" in REMIC Provisions (as defined herein) under the federal income tax lawII. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V S Certificates, will be represent ownership of "regular interests" in REMIC IIIII and will generally be treated as debt instruments of REMIC III, the Class A, Class M and Class B Certificates will also represent the right to receive payments in respect of the Adjusted Net WAC Shortfall Amount, which will not be an entitlement from any REMIC, and the Class S-1 certificates will also represent an obligation to make payments in respect of the Adjusted Net WAC Shortfall Amount. The Class A Certificates will also represent the right to receive payments in respect of the swap agreement, which will not be an entitlement from any REMIC; and the Class R-II Certificates III Interest will be the sole class of "residual interests" therein for purposes of the in REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionIII.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, and the other Uncertificated REMIC II Regular Interests, the rights in and to which will be represented by their Related Classes of Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans) Loans but excluding the Initial Monthly Payment Fund), as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes and will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I II Regular Interests Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under in the federal income tax lawStandard Terms). The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined in the Standard Terms). The Class I-A, Class II-A-1, Class II-A-2, Class II-A-3, Class A-4III-A, Class A-5, Class A-6, Class IV-A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-0, Xxxxx X-0, Class A-2A-2A, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I III Regular Interests as a REMIC ("REMIC II"IV) for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the pool of assets comprised of REMIC IV Regular Interests SB-IO and SB-PO as a REMIC (REMIC V) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The Class A-1I-A, Class A-2II-A, Class A-3M, Class A-4B, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 SB Certificates and the Uncertificated REMIC II IV Regular Interests Z, the rights in SB-IO and to which will be represented by the Class ASB-V Certificates, PO will be "regular interests" in REMIC IIIV, and the Class R-II IV Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC V Regular Interest will be the "regular interest" in REMIC V, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder V for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans) Loans but excluding the Initial Monthly Payment Fund and amounts, including the prepayment charges, to which the Class P Certificates are entitled), as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests Interests, and subject to this Agreement, as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under in the federal income tax lawStandard Terms). The Class I-A-1, Class I-A-2, Class A-3II-A-1, Class A-4II-A-2, Class A-5I-A-V, Class A-6I-A-P, Class II-A-V, Class II-A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and Certificates, the Uncertificated REMIC II Regular Interests ZZ1 and Uncertificated REMIC II Regular Interest Z2, the rights in and to which will be represented by the related Class A-V Certificates, will be "regular interests" in the REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. On and after the date of issuance of any Subclass of related Class A-V Certificates pursuant to Section SECTION 5.01(c)) of the Standard Terms, any such Subclass will represent the related Uncertificated REMIC II Regular Interest Interests Z1 or Uncertificated REMIC II Regular Interests Z Z2, as applicable, specified by the initial Holder of the related Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2A-2 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1Clxxx X-0, Class Xxxxx B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund and the Carryover Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund and the Carryover Shortfall Reserve Fund), as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4X, Class A-5X-0, Class A-6, Class A-P, Class M-1, Class M-2Xxxxx X-0, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent "regular interests" in REMIC II, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Group I Loans but excluding the Swap Account, the Swap Agreement, the SB-AM Swap Agreement and the Class P Reserve Account), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC II (as defined herein) (including the Group II Loans but excluding the Class P Reserve Account), and subject to this Agreement, as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "“regular interests" ” in REMIC I and the Class I-R-I Certificates will be the sole class of "“residual interests" ” in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "“regular interests" ” in REMIC II, II and the Class I-R-II Certificates will be the sole class of "“residual interests" therein ” in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the “regular interests” in REMIC III, ownership of which will be represented by the Class I-A Certificates, Class I-M-1 Certificates, Class I-M-2 Certificates, Class I-M-3 Certificates, Class I-M-4 Certificates, Class I-M-5 Certificates, Class I-M-6 Certificates, Class I-M-7 Certificates, Class I-M-8 Certificates, Class I-M-9 Certificates and Class I-SB Certificates, Class I-P Certificates and the Class I-R-III Certificates will represent the sole class of “residual interests” in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after The REMIC IV Regular Interests will be the date “regular interests” in REMIC IV, ownership of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass which will represent the Uncertificated REMIC II Regular Interest or Interests Z specified be represented by the initial Holder Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-M-1 Certificates, Class II-M-2 Certificates, Class II-M-3 Certificates, Class II-B-1 Certificates, Class II-B-2 Certificates, Class II-B-3 Certificates, Class II-P Certificates and the Class II-R-I Certificates will be the sole class of “residual interests” in REMIC IV for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-V P Certificates pursuant to said Sectionwill not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets (including the Mortgage Loans) described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage LoansLoans but excluding the Initial Monthly Payment Fund, the Rounding Account and the Reserve Fund) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised composed of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual residential interests" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated Class A-V REMIC II Regular Interests ZInterests, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIthe REMIC, and the Class R-II R Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined hereinabove) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated Class A-V REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Securities Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC 1, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("“REMIC I") and will 1 ”), shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I 1 Regular Interests as a REMIC ("“REMIC II"2 ”) for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC 2 Regular Interests as a REMIC (“REMIC 3 ”) for federal income tax purposes. The Uncertificated REMIC I 1 Regular Interests will be "“regular interests" ” in REMIC I 1 and Component R-1 of the Class R-I R Certificates will be the sole class of "“residual interests" ” in REMIC I 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II 2 Regular Interests Z, the rights in and to which will be represented by “regular interests” in REMIC 2 , and Component R-2 of the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II R Certificates will be the sole class of "“residual interests" ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The Uncertificated REMIC 3 Regular Interest, the ownership of which is evidenced by the Exchangeable and after Exchanged Certificates, as the date of issuance of any Subclass of case may be, the Class I-A-I, Class A-V Certificates pursuant to Section 5.01(c)PO, any such Subclass Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class P Certificates, will represent the Uncertificated be “regular interests” in REMIC II Regular Interest or Interests Z specified by the initial Holder 3 and Component R-3 of the Class A-V R Certificates pursuant to said Section.will be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. 123

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Certificate Supplemental Interest Trust FundAccount, the Class A-1-A Supplemental Interest Trust Account and the Swap Agreements), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R-1 Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and Component II of the Class R-II R-1 Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates and Class M-4 Certificates, and Component III of the Class R-1 Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4X, Class A-5X-0, Class A-6, Class A-P, Class M-1, Class M-2Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class B-1, Class B-2 B-2, Class B-3 and Class B-3 P Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent "regular interests" in REMIC II, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Certificate Supplemental Interest Trust FundAccount, the Certificate Swap Agreement, the Class A-1 Supplemental Interest Trust Account, the Class A-1 Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R-1 Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and Component II of the Class R-II R-1 Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates and Class M-5 Certificates, and Component III of the Class R-1 Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans, but excluding the Pre-Funding Account and the Capitalized Interest Account as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC III Regular Interests as a REMIC (REMIC IV) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC IV Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC V) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which, except in the case of REMIC IV Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class M-10 Certificates, and the Class R-IV Certificates will represent the sole class of "residual interests" in REMIC IV for purposes of the REMIC Provisions under federal income tax law. On 118 The REMIC V Regular Interests will be the "regular interests" in REMIC V, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder V for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement, the SB-AM Swap Agreement and the Corridor Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC III Regular Interests as a REMIC (REMIC IV) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC IV Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC V) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which, except in the case of REMIC IV Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and the Class R-IV Certificates will represent the sole class of "residual interests" in REMIC IV for purposes of the REMIC Provisions under federal income tax law. On The REMIC V Regular Interests will be the "regular interests" in REMIC V, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder V for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") ), will make an election to treat the pool of assets comprised of the REMIC I Regular Interests as a REMIC ("REMIC II"), and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests as a REMIC ("REMIC IIIII") ), for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interests will be "regular interests" in REMIC III and after the date Class R-III Certificates will be the sole class of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder "residual interests" therein for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.[Signature Page Follows]

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("for federal income tax purposes. The REMIC I") and Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC ("REMIC II") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will represent ownership of the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The Class I-A-1, Class I-A-IO, Class II-A-1, Class III-A-1, Class IV-A-1, Class IV-A-2, Class A-3V-A-1, Class A-4, Class A-5, Class A-6, Class AVI-PA-1, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent ownership of "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be represent ownership of the sole class of "residual interests" therein in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding Swap Account, Swap Agreement and the Class P Reserve Account), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which will be represented by the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class M-10 Certificates and Class SB Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date The Class P Certificates will not represent ownership of issuance of an interest in any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionREMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans, but excluding the Pre-Funding Account and the Capitalized Interest Account as set forth in Section 2.06 of the Trust Agreement, and disregarding the right of the Class A-IO Certificateholders to Interest Shortfalls) as a REMIC ("REMIC I") and ). The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the pool of assets comprised of the REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will ), shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The Class 1-A-1, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6, Class 2-A-7, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and after Class B-3 Certificates, will be "regular interests" in REMIC III, and the date Class R-III Certificates will be the sole class of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder "residual interests" therein for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions (as defined herein) under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Swap Account, the Swap Agreement and the SB-AMB Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which will be represented by the Class A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates, Class B Certificates and Class SB Certificates, and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Group I Loans and Group II Loans) as a REMIC ("REMIC I") and will for federal income tax purposes. The REMIC Administrator shall make an election to treat the entire segregated pool of assets described in the definition of REMIC II, and subject to this Agreement (including the Group III Loans) as a REMIC ("REMIC II") for federal income tax purposes. The REMIC Administrator shall make an election to treat the entire segregated pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC Administrator shall make an election to treat the entire segregated pool of assets comprised of the Uncertificated REMIC II Regular Interests and Uncertificated REMIC III Regular Interests as a REMIC ("REMIC IV") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class A-1R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Uncertificated REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class I-A-1 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class I-A-6, Class I-A-7, Class I-A-V, Class I-A-P, Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class II-A-5, Class II-A-6, Class II-A-P, Class II-A-V, Class III-A-1, Class III-A-2, Class III-A-3, Class III-A-P, Class III-A-V, Class I-M-1, Class I-M-2, Class I-M-3, Class I-B-1, Class I-B-2, Class I-B-3, Class II-M-1, Class II-M-2, Class II-M-3, Class II-B-1, Class II-B-2 and Class II-B-3 Certificates and the Uncertificated REMIC II IV Regular Interests Z, Z the rights in and to which will be represented by the related Class A-V Certificates, will be "regular interests" in REMIC IIIV, and the Class R-II IV Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of related Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II IV Regular Interest or Interests Z specified by the initial Holder of the related Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC III Regular Interests as a REMIC (REMIC IV) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC IV Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC V) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which, except in the case of REMIC IV Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and the Class R-IV Certificates will represent the sole class of "residual interests" in REMIC IV for purposes of the REMIC Provisions under federal income tax law. On The REMIC V Regular Interests will be the "regular interests" in REMIC V, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder V for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Zwill be the "regular interests" in REMIC II, the rights in and to ownership of which will be represented by the Class A-V A-1 Certificates, will be "regular interests" in REMIC IIClass A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates and Class SB Certificates, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Supplemental Interest Trust FundAccount, the Swap Agreement and the SB-AM Swap Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-PO, SB-IO and IO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which, except in the case of REMIC III Regular Interests SB-IO, SB-PO and IO, will be represented by the Class A, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 Certificates and the Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. On The REMIC IV Regular Interests will be the "regular interests" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") and shall make an election to treat the pool of assets comprised of the underlying REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIII and Component II of the Class R Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. 119 Each Class of Class A, Class M and Class B Certificates will be "regular interests" in REMIC III, and Component III of the Class R-II R Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-I, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6CB, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated Class A-V REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund (except for the Reserve Fund and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage LoansLoans but excluding the Initial Monthly Payment Fund) as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1CB, Class A-2NB-1, Class A-3NB-2, Class A-4, Class A-5, Class A-6NB-3, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund ), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests P, SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-1 Certificates, Class A-2A-2 Certificates, Class A-3A-3 Certificates, Class A-4M-1 Certificates, Class A-5M-2 Certificates, Class A-6M-3 Certificates, Class A-PM-4 Certificates, Class M-1M-5 Certificates, Class M-2M-6 Certificates, Class M-3M-7 Certificates, Class B-1M-8 Certificates, Class B-2 and M-9 Certificates, Class B-3 B Certificates and the Uncertificated REMIC II Regular Interests ZP, the rights in SB-PO and to which will be represented by the Class ASB-V Certificates, IO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interests will be the "regular interests" in REMIC III, ownership of which will be represented by the Class SB Certificates and after Class P Certificates and the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Interest Shortfall Reserve Fund, the Yield Maintenance Agreement Reserve Fund, the Yield Maintenance Floor Agreement Reserve Fund, the Yield Maintenance Agreement and the Yield Maintenance Floor Agreement), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests, and subject to this Agreement, as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II Regular Interests, and subject to this Agreement, as a REMIC (REMIC III) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of REMIC III Regular Interests SB-IO and SB-PO, and subject to this Agreement, as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class Class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, II and the Class R-II Certificates will be the sole class Class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class I-A Certificates, Class II-A Certificates, Class III-A Certificates, Class M Certificates and Class X Certificates will represent ownership of, and REMIC III Regular Interests SB-IO and SB-PO will be, "regular interests" in REMIC III and the Class R-III Certificates will be the sole Class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law. The Class SB Certificates will represent ownership of the REMIC IV Regular Interest, the single "regular interest" in REMIC IV, and the Class R-X Certificates will be the sole Class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date The Class P Certificates will not represent ownership of issuance of an interest in any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionREMIC.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2A-2 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9 ,Class A-10, Class 11, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II-A) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC II-A Regular Interests as a REMIC (REMIC II-B) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II-B Regular Interests as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC Administrator will make an election to treat the pool of assets comprised of REMIC III Regular Interests SB-IO and SB-PO as a REMIC (REMIC IV) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II-A Regular Interests will be "regular interests" in REMIC II-A and Component I of the Class R-II Certificates will be the sole class of "residual interests" in REMIC II-A for purposes of the REMIC Provisions under the federal income tax law. The REMIC II-B Regular Interests will be "regular interests" in REMIC II-B and Component II of the Class R-II Certificates will be the sole class of "residual interests" in REMIC II-B for purposes of the REMIC Provisions under the federal income tax law. The Class A-1I-A Certificates, Class A-2II-A Certificates, Class A-3M Certificates, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 SB Certificates and the Uncertificated REMIC II III Regular Interests Z, the rights in SB-IO and to which will be represented by the Class ASB-V Certificates, PO will be "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC IV Regular Interest will be the "regular interest" in REMIC IV, ownership of which will be represented by the Class SB Certificates, and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder IV for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests ("and excluding the Initial Monthly Payment Fund), as a REMIC I") for federal income tax purposes, and will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I II Regular Interests (and excluding the Initial Monthly Payment Fund), and subject to this Agreement, as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class A-1R-II Certificates will represent ownership of the sole "residual interest" in REMIC II for purposes of the REMIC Provisions. The Class CB I, Class A-2CB-II, Class A-3NB-I-1, Class A-4NB-II-1, Class A-5, Class A-6, Class ANB-PII-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II III Regular Interests Z, Interest NB-I-2A and the rights in and to which will be represented by the Class AREMIC III Regular Interest NB-V CertificatesI-2B, will be "regular interests" in REMIC IIIII, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionProvisions.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6Class-17, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and Certificates, the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, and the other Uncertificated REMIC II Regular Interests, the rights in and to which will be represented by their Related Classes of Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust FundFund (exclusive of the Hedge Agreement and the Swap Agreement), and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") and shall make an election to treat the pool of assets comprised of the underlying REMIC II Regular Interests as a REMIC ("REMIC III") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and Component 1 of the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be "regular interests" in REMIC II and Component 2 of the Class R-I Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-PX, Class M-1M-0, Class M-2Xxxxx X-0, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIIII, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.107

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundEstate, and subject to this Agreement (including the Mortgage Loans, but excluding the Pre-funding Account and the Capitalized Interest Account as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") and will make an and election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6A-I, Class A-PII-1, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V CertificatesII-2, Class A-II-3, Class A-II-4, Class A-II-5, Class A-II-6, Class A-IO Notes and the Class SB Certificates will be "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests ("and excluding the Initial Monthly Payment Fund), as a REMIC I") for federal income tax purposes, and will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I II Regular Interests (and excluding the Initial Monthly Payment Fund), and subject to this Agreement, as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class A-1, R-II Certificates will represent ownership of the sole "residual interest" in REMIC II for purposes of the REMIC Provisions. The Class A-2, Class A-3, Class A-4, Class A-5, Class A-6A-I, Class A-PI-IO, Class A-II, Class A-III-1, Class A-III-IO-1, Class A-III-2, Class A-III-3, Class A-III-IO-2 Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said SectionProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Basis Risk Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class A-1R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class I-A Certificates, Class A-2II-A Certificates, Class A-3M Certificates, Class A-4, Class A-5, Class A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 SB Certificates and the Uncertificated REMIC II III Regular Interests Z, the rights in and to which will be represented by the Class A-V CertificatesInterests, will be "regular interests" in REMIC IIIII, and the Class R-II III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust FundREMIC I (as defined herein) (including the Mortgage Loans ), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC ("REMIC I") and for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the Uncertificated REMIC I II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC II"III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1A-1 Certificates, Class A-2A-2 Certificates, Class A-3A-3 Certificates, Class A-4M-1 Certificates, Class A-5M-2 Certificates, Class A-6M-3 Certificates, Class A-PM-4 Certificates, Class M-1M-5 Certificates, Class M-2M-6 Certificates, Class M-3M-7 Certificates, Class B-1M-8 Certificates, Class B-2 M-9 Certificates, and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in SB-PO and to which will be represented by the Class ASB-V Certificates, IO will be "regular interests" in REMIC II, and the Class R-II Certificates will be represent the sole class of "residual interests" therein in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On The REMIC III Regular Interest will be the single "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates and after the date of issuance of any Subclass of Class AR-V X Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated sole class of "residual interests" in REMIC II Regular Interest or Interests Z specified by the initial Holder III for purposes of the Class A-V Certificates pursuant to said SectionREMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and will shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3A-3 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-4, Class A-5, Class A-6, Class A-P, Class M-1Clasx X-0, Class M-2Xxxxx X-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c)) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund and the Carryover Shortfall Reserve Fund), and subject to this Agreement (including the Mortgage Loans) Agreement, as a REMIC for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests ("and excluding the Initial Monthly Payment Fund and the Carryover Shortfall Reserve Fund), and subject to this Agreement, as a REMIC I") for federal income tax purposes, and will make an election to treat the segregated pool of assets comprised consisting of the Uncertificated REMIC I II Regular Interests (and excluding the Initial Monthly Payment Fund and the Carryover Shortfall Reserve Fund), and subject to this Agreement, as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and Component 1 of the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Uncertificated REMIC II Regular Interests will represent "regular interests" in REMIC II and Component 2 of the Class R-I Certificates will represent ownership of the sole "residual interest" in REMIC II for purposes of the REMIC Provisions. The Class 1-A-1, Class 1-A-2, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class A-43-A-1, Class A-53-A-2, Class A-63-A-3, Class A-PX-1, Class X-2, Class X-3, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be represent "regular interests" in REMIC IIIII, and the Class R-II Certificates will be represent ownership of the sole class of "residual interestsinterest" therein in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund (except for the Reserve Fund and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage LoansLoans but excluding the Initial Monthly Payment Fund) as a REMIC ("REMIC I") and will make an and election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-2A, Class A-3, Class A-4, Class A-5Cxxxx X-0, Class Xxxxs A-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.