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), 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 Certificates, will be "regular interests" in REMIC IIClass M, Class B and Class X 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 The Class P Certificates will not represent 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 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 Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R 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 Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6A-I-1, Class A-PI-2, Class A-II-1, Class A-II-2, Class A-III-1, Class A-III-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 II, and the Class R-II R 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 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 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 shall make an election to treat the entire segregated pool Mortgage Loans in Loan Group II and the proceeds of assets described the Mortgage Loans in Loan Group II and the proceeds of the Group II Policy on deposit in the definition of Trust FundDistribution Account, the Custodial Account and subject to this Agreement (including the Mortgage Loans) Note 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. 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-6, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates II Notes and the Uncertificated REMIC Class SB-II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, 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). (a) 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. . (b) 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. . (c) 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, and the rights in and to which will be represented by the Class A-V Certificates, Grantor Trust 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" 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 (a) 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"), (b) and will make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II"), and (c) 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 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 II, II and Component II of the Class R-II R 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 Class A, Class M and Class B Certificates, will be "regular interests" in REMIC III, and Component III of the Class R Certificates will be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions 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), 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 M-1 Certificated, Class M-2 Certificates, Class M-3 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.