Common use of Distributions From Available Funds Clause in Contracts

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (L) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in the following order of priority: (1) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero;

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (L) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: : (a) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; ; (b) second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on until their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and and (c) third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: : (a) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; ; (b) second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and and (c) third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in the following order of priority: (1) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class B-6 Certificates, until the Class Principal Balance thereof has been reduced to zero; (7) to the Holders of the Class B-7 Certificates, until the Class Principal Balance thereof has been reduced to zero; (8) to the Holders of the Class B-8 Certificates, until the Class Principal Balance thereof has been reduced to zero; (9) to the Holders of the Class B-9 Certificates, until the Class Principal Balance thereof has been reduced to zero; and (10) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the Senior Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) the Group 1 Principal Distribution Amount shall be distributed in the following order of priority: (a) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; (b) second, to the Holders of the Class 1A-1A Certificates, until their Class Principal Balance has been reduced to zero; and (c) third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining undistributed for such Distribution Date. (2) the Group 2 Principal Distribution Amount shall be distributed in the following order of priority: (a) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; (b) second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and (c) third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining undistributed for such Distribution Date. (B) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; (2) to the Holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount (3) to the Holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount; (4) to the Holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount; (5) to the Holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount; (6) to the Holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount (7) to the Holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount; (8) to the Holders of the Class B-8 Certificates, the Class B-8 Principal Distribution Amount; (9) to the Holders of the Class B-9 Certificates, the Class B-9 Principal Distribution Amount; and (10) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Net Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Net Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distributions beginning with the Class B-1 Certificates, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distributions beginning with the Class B-1 Certificates, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) to the Holders of the Class C Certificates, the Class C Distributable Amount; (J) on the Distribution Date immediately following the last Distribution date on which Prepayment Penalty Amounts can be collected by any Servicer, to the Holders of the Class P Certificates, $100.00; and (K) to the Holders of the Residual Certificates, pro rata, any Available Funds then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above except that any Premium Proceeds will be distributable in respect of the Class C Certificates.

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below; provided, that amounts that are available for payment to the Swap Provider shall be paid on the related Swap Payment Date: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date (or, with respect to clause (A) below, on the related Swap Payment Date) other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from for deposit into the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Swap Account, the Group 1 Final Maturity Reserve Amount, if any, for that allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (including amounts remaining unpaid from previous Distribution DateDates); (2B) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders holders of the Class 1A-1A A-1A and Class 1A-1B CertificatesA-1B, as applicable, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrentlyeach case, on a pro rata basis, basis to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, based on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each amounts due such Class is entitled, to the extent not paid pursuant to clause (A)(3) aboveClass; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (LJ) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (or, with respect to clause (A) below, on the related Swap Payment Date) (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall will be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to for deposit into the Final Maturity Reserve Swap Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the distributions under clauses Swap Provider (a)(i)(A)(1) and (a)(i)(B)(2to the extent not paid previously or from the Interest Remittance Amount pursuant to Section 5.01(a)(i)(A) above; ); (B) second, to the Holders holder of the Class 1A-1A and Class 1A-1B Senior Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective the Class Principal Balances have been of the Senior Certificates are reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining.; (BC) from the Principal Distribution Amount for both Loan Groups, in the following order of prioritythird: (1) to the Holders holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (6) to the holders of the Class B-6 Certificates, until the Class Principal Balance thereof has been reduced to zero; (7) to the holders of the Class B-7 Certificates, until the Class Principal Balance thereof has been reduced to zero; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (or, with respect to clause (A) below, on the related Swap Payment Date) (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount will be distributed in the following amounts and order of priority: (A) first, for deposit into the Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (to the extent not paid previously or from the Interest Remittance Amount pursuant to Section 5.01(a)(i)(A) above); (B) second, to the holder of the Senior Certificates, the Principal Distribution Amount, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until the Class Principal Balances of the Senior Certificates are reduced to zero; (C) third: (1) to the holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; (2) to the holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount (3) to the holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount; (4) to the holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount; (5) to the holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount; (6) to the holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount (7) to the holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date (or, with respect to clause (I) below, on the related Swap Payment Date), other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Class prior to such Distribution Date as a distribution in respect of principal; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, any Required Reserve Fund Deposit for such Distribution Date, and then from the Basis Risk Reserve Fund, to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) to the Swap Provider, any Swap Termination Payment resulting from a Swap Provider Trigger Event; (J) to the Holders of the Class C Certificates, the Class C Distributable Amount; and (K) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above, except the Holders of the Class C Certificates shall be entitled to any Premium Proceeds.

Distributions From Available Funds. On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, for deposit into the Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) for Loan Group 1 (based on the applicable Group Percentage) owed to the Swap Provider (including amounts remaining unpaid from previous Distribution Dates); (2) second, for deposit into the Swap Account, the amount of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider to the extent not paid previously or from the Interest Remittance Amount related to Loan Group 2 in accordance with clause (B)(1) below; (3) third, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (24) secondfourth, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1B)(3) below; (35) third, concurrently, on a pro rata basisfifth, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (46) fourthsixth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3B)(5) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, for deposit into the Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) for Loan Group 2 (based on the applicable Group Percentage) owed to the Swap Provider (including amounts remaining unpaid from previous Distribution Dates); (2) second, for deposit into the Swap Account, the amount of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider to the extent not paid previously or from the Interest Remittance Amount related to Loan Group 1 in accordance with clause (A)(1) above (3) third, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (24) secondfourth, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1A)(3) above; (35) thirdfifth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (46) fourth, concurrently, on a pro rata basissixth, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3A)(5) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (L) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to for deposit into the Final Maturity Reserve Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) for Loan Group 1 Final Maturity Reserve (based on the applicable Group Percentage) owed to the Swap Provider (to the extent not previously paid or paid from the Interest Remittance Amount); second, for deposit into the Swap Account, the amount of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (to the extent not previously paid, paid from the Interest Remittance Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1or paid from Section 5.01(a)(ii)(A)(2) and (a)(i)(B)(2) abovebelow); secondthird, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on until their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and thirdfourth, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to for deposit into the Final Maturity Reserve Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) for Loan Group 2 Final Maturity Reserve (based on the applicable Group Percentage) owed to the Swap Provider (to the extent not previously paid or paid from the Interest Remittance Amount, if any); second, for that Distribution Date remaining unpaid after giving effect deposit into the Swap Account, the amount of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the distribution under clauses Swap Provider (a)(i)(A)(2) and (a)(i)(B)(1to the extent not previously paid, paid from the Interest Remittance Amount or paid from Section 5.01(a)(ii)(A)(1) above); secondthird, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and thirdfourth, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in the following order of priority: (1) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class B-6 Certificates, until the Class Principal Balance thereof has been reduced to zero;

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B 2A-1B, Class 2A-1C and Class 2A-1C 2A-2C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B 2A-1B, Class 2A-1C and Class 2A-1C 2A-2C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (DE) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (EF) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (FG) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (GH) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (HI) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (IJ) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (LK) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions distribution under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on until their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B 2A-1B1, Class 2A-1C and Class 2A-1C 2A-2C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero;

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (DE) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (EF) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (FG) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (GH) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (HI) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (IJ) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (JK) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (L) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on until their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero;

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount andfor the related Loan Group, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments Available Funds for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from on the Interest Remittance Amount Distribution Date commencing in March 2017 and Principal Prepayments related to on each Distribution Date thereafter until the Group 1 Mortgage LoansFinal Maturity Reserve Termination Date, for deposit in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, Amount and the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3B) third, concurrently, on a from the remaining Interest Remittance Amount for the related Loan Group pro rata basis, to the Holders holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount Certificates and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B 2A-1B, Class 2A-1C1 and Class 2A-1C 2A-1C2 Certificates, as applicable, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrentlyeach case, on a pro rata basis, basis to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class in the related Certificate Group based on the amounts due such Class; provided, that if the Interest Remittance Amount for Loan Group 1 is entitled; and (4) fourth, concurrently, on a pro rata basis, insufficient to the Holders of pay the Class 1A-1A and Class 1A-1B Certificates, the Monthly related Interest Distributable Amount, the Trustee shall withdraw the amount of such deficiency shortfalls from the Interest Remittance Amount for Loan Group 2 after distributions are made of the Interest Distributable Amount to the Class 2A-1A, Class 2A-1B, Class 2A-1C1 and Class 2A-1C2 Certificates, and if the Unpaid Interest Shortfall Remittance Amount for Loan Group 2 is insufficient to pay the Class 2A-1A, Class 2A-1B, Class 2A-1C1 and Class 2A-1C2 Certificates the related Interest Distributable Amount, if any, to which each the Trustee shall withdraw the amount of such Class is entitled, deficiency shortfalls from the Interest Remittance Amount for Loan Group 1 after distributions are made of the Interest Distributable Amount to the extent not paid pursuant to clause (A)(3) aboveClass 1A-1A and Class 1A-1B Certificates; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, reimbursement amounts owed to the Certificate Insurer; (D) from the remaining Interest Remittance Amounts for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (DE) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (EF) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (FG) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (GH) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (HI) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (IJ) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (JK) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (L) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall will be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) Amount and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses clause (a)(i)(A)(2) and (a)(i)(B)(1a)(i)(A) above; second, ; (2) to the Holders holders of the Class 2A-1A, Class 2A-1B 1A-1A and Class 2A-1C 1A-1B Certificates, the Principal Distribution Amount for Loan Group 1, pro rata, rata based on their respective Class Certificate Principal Balances immediately prior to such Distribution Date, until their respective Class Certificate Principal Balances have been are reduced to zero; and (3) to the holders of the Class 2A-1A, Class 2A-1B, Class 2A-1C1 and thirdClass 2A-1C2 Certificates, for application pursuant to clause (B) below, any Group 2 the Principal Distribution Amount remaining.for Loan Group 2, pro rata based on their respective Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero; (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the remaining Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class B-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (7) to the Holders of the Class B-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (8) to the Holders of the Class B-8 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and (9) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group will be distributed in the following amounts and order of priority: (A) from the Group 1 Principal Distribution Amount and the Group 2 Distribution Amount for the related Loan Group, concurrently as follows: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount and the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clause (a)(i)(A) above; (2) to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Principal Distribution Amount for Loan Group 1, pro rata based on their respective Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero; and (3) to the Holders of the Class 2A-1A, Class 2A-1B, Class 2A-1C1 and Class 2A-1C2 Certificates, the Principal Distribution Amount for Loan Group 2, pro rata based on their respective Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero; (B) from the remaining Principal Distribution Amount for both Loan Groups, to the Certificate Insurer any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; and (C) from the remaining Principal Distribution Amount for both Loan Groups, (1) to the Holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; (2) to the Holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount (3) to the Holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount; (4) to the Holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount; (5) to the Holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount; (6) to the Holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount (7) to the Holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount; (8) to the Holders of the Class B-8 Certificates, the Class B-8 Principal Distribution Amount; and (9) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Class prior to such Distribution Date as a distribution in respect of principal; (D) to the Certificate Insurer, any unpaid remaining Certificate Insurer Reimbursement Amounts; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Net Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Net Interest Shortfalls allocated thereto; (F) to the Holders of the Senior Certificates and the Subordinate Certificates, any Net Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Net Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (G) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distribution, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (H) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Net Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Net Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (I) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (J) to the Holders of the Class C Certificates, the Class C Distributable Amount; and (K) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above, except, no amounts will be distributed pursuant to Sections 5.01(a)(iv)(J) and 5.01(a)(iv)(K) above, and the portion of Available Funds remaining after the distribution pursuant to Section 5.01(a)(iv)(I) will be applied in the following order: (A) to the Holders of the Class C Certificates, the Class C Distributable Amount and any Premium Proceeds; and (B) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (vi) With respect to any Distribution Date and Insured Amounts, the Trustee shall make payments pursuant to Sections 5.01(a)(i), 5.01(a)(ii) and 5.01(a)(iii), after application of Available Funds, with respect to the Insured Certificates, from the amount received by the Trustee under the Financial Guaranty Insurance Policy for such Distribution Date pursuant to Section 4.02. Funds received by the Trustee as a result of any claim under the Financial Guaranty Insurance Policy shall be applied solely to payments to the Insured Certificateholders and may not be applied to satisfy any other Classes of Certificates or costs, expenses or liabilities of the Servicer, the Trustee or the Trust Fund.

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group for the related Prepayment Period, shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Class B-1 Certificates, the related Monthly Interest Distributable AmountCertificate Insurer; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 M-1 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 M-2 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 M-3 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 M-4 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 M-5 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 M-6 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 M-7 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 M-8 Certificates, the related Monthly Interest Distributable Amount; (L) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class M-9 Certificates, the related Monthly Interest Distributable Amount; and (LM) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on their Class Principal Balances class principal balances immediately prior to such Distribution Date, distribution date until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B1 and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Principal Distribution Amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, to the Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class M-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class M-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class M-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class M-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class M-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class M-6 Certificates, until the Class Principal Balance thereof has been reduced to zero; (7) to the Holders of the Class M-7 Certificates, until the Class Principal Balance thereof has been reduced to zero; (8) to the Holders of the Class M-8 Certificates, until the Class Principal Balance thereof has been reduced to zero; (9) to the Holders of the Class M-9 Certificates, until the Class Principal Balance thereof has been reduced to zero; and (10) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) from the Senior Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) the Group 1 Principal Distribution Amount shall be distributed in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on their class principal balances immediately prior to such distribution date, until their Class Principal Balance has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining undistributed for such Distribution Date. (2) the Group 2 Principal Distribution Amount shall be distributed in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remainingremaining undistributed for such Distribution Date. (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; and (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 M-1 Certificates, until the Class M-1 Principal Balance thereof has been reduced to zeroDistribution Amount; (2) to the Holders of the Class B-2 M-2 Certificates, until the Class M-2 Principal Balance thereof has been reduced to zero;Distribution Amount (3) to the Holders of the Class B-3 M-3 Certificates, until the Class M-3 Principal Balance thereof has been reduced to zeroDistribution Amount; (4) to the Holders of the Class B-4 M-4 Certificates, until the Class M-4 Principal Balance thereof has been reduced to zeroDistribution Amount; (5) to the Holders of the Class B-5 M-5 Certificates, until the Class M-5 Principal Distribution Amount; (6) to the Holders of the Class M-6 Certificates, the Class M-6 Principal Distribution Amount (7) to the Holders of the Class M-7 Certificates, the Class M-7 Principal Distribution Amount; (8) to the Holders of the Class M-8 Certificates, the Class M-8 Principal Distribution Amount; (9) to the Holders of the Class M-9 Certificates, the Class M-9 Principal Distribution Amount; and (10) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance thereof has been reduced of such certificates, pro rata, to zeroeach such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, distributable to such Holders as described under Sections 5.01(a)(ii) and (iii) above; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distribution, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distribution, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) to the Holders of the Class C Certificates, the Class C Distributable Amount; (J) on the Distribution Date immediately following the last Distribution date on which Prepayment Penalty Amounts can be collected by the Servicer, to the Holders of the Class P Certificates, $100.00; and (K) to the Holders of the Class R Certificates, any Available Funds then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above except that any Premium Proceeds will be distributable in respect of the Class C Certificates. (vi) With respect to any Distribution Date and Insured Amounts, the Securities Administrator shall make payments pursuant to Sections 5.01(a)(i), 5.01(a)(ii) and 5.01(a)(iii), after application of Available Funds, with respect to the Insured Certificates, from the amount received by the Securities Administrator under the Certificate Insurance Policy for such Distribution Date pursuant to Section 4.02. Funds received by the Securities Administrator as a result of any claim under the Certificate Insurance Policy shall be applied solely to payments to the Insured Certificateholders and may not be applied to satisfy any other Classes of Certificates or costs, expenses or liabilities of the Servicer, the Securities Administrator or the Trust Fund.

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The From the Interest Remittance Amount andAmount, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group Available Funds shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from on the Interest Remittance Amount Distribution Date commencing in November 2016 and Principal Prepayments related to on each Distribution Date thereafter until the Group 1 Mortgage LoansFinal Maturity Reserve Termination Date, for deposit in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2B) second, from the remaining Interest Remittance Amount to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders holders of the Class 1A-1A A-1A and Class 1A-1B CertificatesA-1B, as applicable, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrentlyeach case, on a pro rata basis, basis to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, based on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each amounts due such Class is entitled, to the extent not paid pursuant to clause (A)(3) aboveClass; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-1 M-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-2 M-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-3 M-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-4 M-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-5 M-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-6 M-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsAmount, to the Holders holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 M-7 Certificates, the related Monthly Interest Distributable Amount; and (LJ) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below;; On any Distribution Date, any shortfalls resulting from the application of the Relief Act and any Interest Shortfalls to the extent not covered by Compensating Interest Payments will be allocated to the Monthly Interest Distributable Amounts with respect to the MTA Certificates and the LIBOR Certificates on a pro rata basis, based on the respective amounts of interest accrued on such Certificates for such Distribution Date. The holders of the MTA Certificates and the LIBOR Certificates will not be entitled to reimbursement for any such interest shortfalls. (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall will be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Groupfirst, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: firstAmount, to the Final Maturity Reserve Accountholder of the Senior Certificates, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; secondand, to the Holders extent of the Class 1A-1A and C Priority Principal Amount, to the holders of the Class 1A-1B C Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata, based on their respective Class Principal Balances Balances, in the case of the Senior Certificates, and based on the Class C Priority Principal Amount, in the case of the Class C Certificates, immediately prior to such Distribution Date, until their respective the Class Principal Balances have been of the Senior Certificates and the Class C Priority Principal Amount are reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining.; (B) second, from the remaining Principal Distribution Amount for both Loan Groups, in the following order of priorityAmount: (1) to the Holders holders of the Class B-1 M-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2) to the Holders holders of the Class B-2 M-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3) to the Holders holders of the Class B-3 M-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4) to the Holders holders of the Class B-4 M-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5) to the Holders holders of the Class B-5 M-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (6) to the holders of the Class M-6 Certificates, until the Class Principal Balance thereof has been reduced to zero; (7) to the holders of the Class M-7 Certificates, until the Class Principal Balance thereof has been reduced to zero; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount will be distributed in the following amounts and order of priority: (A) first, from the Principal Distribution Amount, to the holder of the Senior Certificates, and, to the extent of the Class C Priority Principal Amount, to the holders of the Class C Certificates, the Senior Principal Distribution Amount, pro rata, based on their respective Class Principal Balances, in the case of the Senior Certificates, and based on the Class C Priority Principal Amount, in the case of the Class C Certificates, immediately prior to such Distribution Date, until the Class Principal Balances of the Senior Certificates and the Class C Priority Principal Amount are reduced to zero; (B) second, from the remaining Principal Distribution Amount, (1) to the holders of the Class M-1 Certificates, the Class M-1 Principal Distribution Amount; (2) to the holders of the Class M-2 Certificates, the Class M-2 Principal Distribution Amount (3) to the holders of the Class M-3 Certificates, the Class M-3 Principal Distribution Amount; (4) to the holders of the Class M-4 Certificates, the Class M-4 Principal Distribution Amount; (5) to the holders of the Class M-5 Certificates, the Class M-5 Principal Distribution Amount; (6) to the holders of the Class M-6 Certificates, the Class M-6 Principal Distribution Amount (7) to the holders of the Class M-7 Certificates, the Class M-7 Principal Distribution Amount; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Class prior to such Distribution Date as a distribution in respect of principal; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, any Required Reserve Fund Deposit for such Distribution Date, and then from the Basis Risk Reserve Fund, to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) if on any Distribution Date after the Distribution Date in November 2026 the aggregate Stated Principal Balance of Mortgage Loans having 40-year original terms to maturity is greater than the Overcollateralization Target Amount for that Distribution Date, to the Senior Certificates and the Subordinate Certificates, in the priority set forth under Section 5.01(a)(ii) or Section 5.01(a)(iii), as applicable, as though a Trigger Event were in effect for such Distribution Date; (J) to the Holders of the Class C Certificates, the Class C Distributable Amount; and (K) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above, except, no amounts will distributed pursuant to Sections 5.01(a)(iv)(J) and 5.01(a)(iv)(K) above, and the portion of Available Funds remaining after the distribution pursuant to Sections 5.01(a)(i), 5.01(a)(ii), 5.01(a)(iii) and 5.01(a)(iv) will be applied in the following order: (A) to the Holders of the Class C Certificates, the Class C Distributable Amount and any Premium Proceeds; and (B) to the Holder of the Class R Certificate, remaining amounts.

Distributions From Available Funds. On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities Administrator, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to for deposit into the Final Maturity Reserve Swap Account, the Group 1 Final Maturity Reserve Amount, if any, for that amount of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (including amounts remaining unpaid from previous Distribution DateDates); (2B) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A A-1A, Class A-1B and Class 1A-1B A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (E) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (F) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (G) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (H) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (I) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan GroupsPrepayments, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (LK) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall be distributed in the following amounts and order of priority: (A) first, for deposit into the Swap Account, any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (to the extent not previously paid or paid from the related Principal Distribution Amount for the related Loan Group, concurrently as follows:Interest Remittance Amount); and (1B) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A A-A1, Class A-1B and Class 1A-1B Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C A-1C Certificates, pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and third, for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount remaining.; (B) from the Principal Distribution Amount for both Loan Groups, in the following order of priority: (1C) to the Holders of the Class B-1 Certificates, until the Class Principal Balance thereof has been reduced to zero; (2D) to the Holders of the Class B-2 Certificates, until the Class Principal Balance thereof has been reduced to zero; (3E) to the Holders of the Class B-3 Certificates, until the Class Principal Balance thereof has been reduced to zero; (4F) to the Holders of the Class B-4 Certificates, until the Class Principal Balance thereof has been reduced to zero; (5G) to the Holders of the Class B-5 Certificates, until the Class Principal Balance thereof has been reduced to zero; (H) to the Holders of the Class B-6 Certificates, until the Class Principal Balance thereof has been reduced to zero; (I) to the Holders of the Class B-7 Certificates, until the Class Principal Balance thereof has been reduced to zero; (J) to the Holders of the Class B-8 Certificates, until the Class Principal Balance thereof has been reduced to zero; and (K) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date) (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount shall be distributed in the following amounts and order of priority: (A) first, for deposit into the Swap Account, the allocable portion of any Net Swap Payment or Swap Termination Payment (not due to a Swap Provider Trigger Event) owed to the Swap Provider (to the extent not paid previously or paid from the Interest Remittance Amount); (B) second, to the Holders of the Class A-A1, Class A-B1 and Class A-1C Certificates, the Senior Principal Distribution Amount pro rata, based on their respective Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero; and (C) to the Holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (D) to the Holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (E) to the Holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (F) to the Holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (G) to the Holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (H) to the Holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero (I) to the Holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; (J) to the Holders of the Class B-8 Certificates, the Class B-8 Principal Distribution Amount, until the class principal balance thereof has been reduced to zero; and (K) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date (or, in the case of payments to the Swap Provider, the related Swap Payment Date), other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Net Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Net Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, on a pro rata basis based on the amount of Basis Risk Shortfalls remaining unpaid, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distributions beginning with the Class B-1 Certificates, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distributions beginning with the Class B-1 Certificates, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) to the Swap Provider, any Swap Termination Payment resulting from a Swap Provider Trigger Event; (J) to the Holders of the Class C Certificates, the Class C Distributable Amount; (K) on the Distribution Date immediately following the last Distribution date on which Prepayment Penalty Amounts can be collected by the Servicer, to the Holders of the Class P Certificates, $100.00; and (L) to the Holders of the Residual Certificates, pro rata, any Available Funds then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above except that any Premium Proceeds will be distributable in respect of the Class C Certificates.

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount and, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from the Interest Remittance Amount and Principal Prepayments related to the Group 1 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, any for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Datedate; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, any for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (A)(3) above; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, reimbursement amounts owed to the Certificate Insurer; (D) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (DE) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (EF) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (FG) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (GH) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (HI) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (IJ) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (LK) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall will be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: : (a) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions distribution under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; second, ; (b) to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, rata based on their Class Certificate Principal Balances immediately prior to such Distribution Date, until their respective Class Certificate Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been are reduced to zero; and third, and (c) for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: : (a) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; second, ; (b) to the Holders of the Class 2A-1A, Class 2A-1B 2A-1B1 and Class 2A-1C Certificates, pro rata, rata based on their respective Class Certificate Principal Balances immediately prior to such Distribution Date, until their respective Class Certificate Principal Balances have been are reduced to zero; and third, and (c) for application pursuant to clause (B) below, any Group 2 Principal Distribution Amount amount remaining. (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class B-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (7) to the Holders of the Class B-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group will be distributed in the following amounts and order of priority: (A) from the Senior Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) the Group 1 Principal Distribution Amount will be distributed in the following order of priority: (a) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(1) and (a)(i)(B)(2) above; (b) to the Class 1A-1A and Class 1A-1B Certificates, pro rata based on their Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero; and (c) for application pursuant to clause (B) below, any amount remaining undistributed for such Distribution Date. (2) the Group 2 Principal Distribution Amount will be distributed in the following order of priority: (a) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses (a)(i)(A)(2) and (a)(i)(B)(1) above; (b) to the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro rata based on their respective Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero; and (c) for application pursuant to clause (B) below, any amount remaining undistributed for such Distribution Date. (B) to the Certificate Insurer any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; and (C) from the Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; (2) to the Holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount (3) to the Holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount; (4) to the Holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount; (5) to the Holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount; (6) to the Holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount (7) to the Holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (D) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, any Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (F) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (G) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (H) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (I) to the Holders of the Class C Certificates, the Class C Distributable Amount on the Final Distribution Date; and (J) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above, except the Holders of the Class C Certificates shall be entitled to any Premium Proceeds. (vi) With respect to any Distribution Date and Insured Amounts, the Trustee shall make payments pursuant to Sections 5.01(a)(i), 5.01(a)(ii) and 5.01(a)(iii), after application of Available Funds, with respect to the Insured Certificates, from the amount received by the Trustee under the Financial Guaranty Insurance Policy for such Distribution Date pursuant to Section 4.02. Funds received by the Trustee as a result of any claim under the Financial Guaranty Insurance Policy shall be applied solely to payments to the Insured Certificateholders and may not be applied to satisfy any other Classes of Certificates or costs, expenses or liabilities of the Servicer, the Trustee or the Trust Fund.

Distributions From Available Funds. On each Distribution Date and after making any withdrawals from the Distribution Account pursuant to Section 4.03(a), including in respect of the Credit Risk Manager Fee for such Distribution Date, the Securities AdministratorTrustee, as Paying Agent, shall withdraw funds on deposit in the Distribution Account to the extent of Available Funds for each Loan Group for such Distribution Date and, based on the Distribution Date Statement, make the following disbursements and transfers as set forth below: (i) The Interest Remittance Amount andfor the related Loan Group, solely to the extent of Deferred Interest for such Distribution Date, Principal Prepayments Available Funds for each Loan Group shall be distributed on each Distribution Date other than on the Distribution Date following the optional purchase of the Mortgage Loans by the Terminator pursuant to Section 10.01(a) in the following order of priority: (A) from on the Interest Remittance Amount Distribution Date commencing in December 2016 and Principal Prepayments related to on each Distribution Date thereafter until the Group 1 Mortgage LoansFinal Maturity Reserve Termination Date, for deposit in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, Amount and the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (B)(1) below; (3B) third, concurrently, on a pro rata basis, from the remaining Interest Remittance Amount for the related Loan Group to the Holders holders of the Class 1A-1A and pro rata to the Class 1A-1B 2A-1A, Class 2A-1A2, Class 2A-1A3, Class 2A-1B, Class 2A-2A, Class 2A-2B and Class 2A-2C Certificates, as applicable, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to the Holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each such Class is entitled, to the extent not paid pursuant to clause (B)(3) below; (B) from the Interest Remittance Amount and Principal Prepayments related to the Group 2 Mortgage Loans, in the following priority: (1) first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date; (2) second, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date, to the extent not paid pursuant to clause (A)(1) above; (3) third, concurrentlyeach case, on a pro rata basisbasis to each such Class in the related Certificate Group based on the amounts due such Class; provided, that if the Interest Remittance Amount for Loan Group 1 is insufficient to the Holders of pay the Class 2A-1A, Class 2A-1B and Class 2A-1C 1A-1A Certificates, the related Monthly Interest Distributable Amount and the Unpaid Interest Shortfall Amount, if any, to which each the Trustee shall withdraw the amount of such Class is entitled; and (4) fourth, concurrently, on a pro rata basis, to deficiency shortfalls from the Holders Interest Remittance Amount for Loan Group 2 after distributions are made of the Class 1A-1A and Class 1A-1B Certificates, the Monthly Interest Distributable Amount to the Class 2A-1A, Class 2A-1A2, Class 2A-1A3, Class 2A-1B, Class 2A-2A, Class 2A-2B and Class 2A-2C Certificates, and if the Unpaid Interest Shortfall Remittance Amount for Loan Group 2 is insufficient to pay the Class 2A-1A1, Class 2A-1A2, Class 2A-1A3, Class 2A-1B, Class 2A-2A, Class 2A-2B and Class 2A-2C Certificates the related Monthly Interest Distributable Amount, if any, to which each the Trustee shall withdraw the amount of such Class is entitled, deficiency shortfalls from the Interest Remittance Amount for Loan Group 1 after distributions are made of the Monthly Interest Distributable Amount to the extent not paid pursuant to clause (A)(3) aboveClass 1A-1A Certificates; (C) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, reimbursement amounts owed to the Certificate Insurer; (D) from the remaining Interest Remittance Amounts for both Loan Groups, to the Holders of the Class B-1 Certificates, the related Monthly Interest Distributable Amount; (DE) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-2 Certificates, the related Monthly Interest Distributable Amount; (EF) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-3 Certificates, the related Monthly Interest Distributable Amount; (FG) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-4 Certificates, the related Monthly Interest Distributable Amount; (GH) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-5 Certificates, the related Monthly Interest Distributable Amount; (HI) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-6 Certificates, the related Monthly Interest Distributable Amount; (IJ) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-7 Certificates, the related Monthly Interest Distributable Amount; (J) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-8 Certificates, the related Monthly Interest Distributable Amount; (K) from the remaining Interest Remittance Amounts and Principal Prepayments for both Loan Groups, to the Holders of the Class B-9 Certificates, the related Monthly Interest Distributable Amount; and (LK) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below; (ii) On each Distribution Date (a) prior to the applicable Stepdown Date or (b) on which a Trigger Event is in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group shall will be distributed in the following amounts and order of priority: (A) from the related Principal Distribution Amount for the related Loan Group, concurrently as follows: (1) from the Principal Distribution Amount related to the Group 1 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distributions under clauses (a)(i)(A)(1) Amount and (a)(i)(B)(2) above; second, to the Holders of the Class 1A-1A and Class 1A-1B Certificates, pro rata, based on their Class Principal Balances immediately prior to such Distribution Date, until their respective Class Principal Balances have been reduced to zero, provided, however, that if a Sequential Trigger Event is in effect, principal distributions to the Class 1A-1A and Class 1A-1B Certificates will be allocated first to the Class 1A-1A Certificates, until the Class Principal Balance thereof has been reduced to zero, and second to the Class 1A-1B Certificates, until the Class Principal Balance thereof has been reduced to zero; and third, for application pursuant to clause (B) below, any Group 1 Principal Distribution Amount remaining. (2) from the Principal Distribution Amount related to the Group 2 Mortgage Loans, in the following order of priority: first, to the Final Maturity Reserve Account, the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clauses clause (a)(i)(A)(2) and (a)(i)(B)(1a)(i)(A) above; second, ; (2) to the Holders holders of the Class 2A-1A1A-1A Certificates, the Principal Distribution Amount for Loan Group 1, based on its Certificate Principal Balance immediately prior to such Distribution Date, until its Certificate Principal Balance is reduced to zero; and (3) to the holders of the Class 2A-1A1, Class 2A-1B 2A-1A2, Class 2A-1A3 and Class 2A-1C 2A-1B, Class 2A-2A, Class 2A-2B and Class 2A-2C Certificates, the Principal Distribution Amount for Loan Group 2, pro rata, rata based on their respective Class Certificate Principal Balances immediately prior to such Distribution Date, until their respective Class Certificate Principal Balances have been are reduced to zero; provided, however, that principal shall be allocated sequentially, first, to the Class 2A-1A1 Certificates, until the Class Principal Balance thereof is reduced zero, second, to Class 2A-1A2 Certificates, until the Class Principal Balance thereof is reduced zero and thirdthen, for application pursuant to clause (B) below, any Group 2 the Class 2A-1A3 Certificates until the Class Principal Distribution Amount remaining.Balance thereof is reduced zero; (B) from the Principal Distribution Amount for both Loan Groups, in to the following order of priority:Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; (C) from the remaining Principal Distribution Amount for both Loan Groups (1) to the Holders of the Class B-1 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (2) to the Holders of the Class B-2 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (3) to the Holders of the Class B-3 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (4) to the Holders of the Class B-4 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (5) to the Holders of the Class B-5 Certificates, until the Class Certificate Principal Balance thereof has been reduced to zero; (6) to the Holders of the Class B-6 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (7) to the Holders of the Class B-7 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iii) On each Distribution Date (a) on or after the applicable Stepdown Date and (b) on which a Trigger Event is not in effect, distributions in respect of principal to the extent of the Principal Distribution Amount for each Loan Group will be distributed in the following amounts and order of priority: (A) from the Group 1 Principal Distribution Amount and the Group 2 Distribution Amount for the related Loan Group, concurrently as follows: (1) first, to the Final Maturity Reserve Account, the Group 1 Final Maturity Reserve Amount and the Group 2 Final Maturity Reserve Amount, if any, for that Distribution Date remaining unpaid after giving effect to the distribution under clause (a)(i)(A) above; (2) to the Holders of the Class 1A-1A Certificates, the Principal Distribution Amount for Loan Group 1, based on its Certificate Principal Balance immediately prior to such Distribution Date, until its Certificate Principal Balance is reduced to zero, such that each class of Senior Certificates will have at least 23.750% credit enhancement if the Stepdown Date is reached prior to the Distribution Date in December 2012 or 19.000% credit enhancement if the Stepdown Date is reached on or after the Distribution Date in December 2012; and (3) to the Holders of the Class 2A-1A1, Class 2A-1A2, Class 2A-1A3 and Class 2A-1B, Class 2A-2A, Class 2A-2B and Class 2A-2C Certificates, the Principal Distribution Amount for Loan Group 2, pro rata based on their respective Certificate Principal Balances immediately prior to such Distribution Date, until their respective Certificate Principal Balances are reduced to zero, provided, however, that principal shall be allocated sequentially, first, to the Class 2A-1A1 Certificates, until the Class Principal Balance thereof is reduced zero, second, to Class 2A-1A2 Certificates, until the Class Principal Balance thereof is reduced zero and then, to the Class 2A-1A3 Certificates until the Class Principal Balance thereof is reduced zero, such that each class of Senior Certificates will have at least 23.750% credit enhancement if the Stepdown Date is reached prior to the Distribution Date in December 2012 or 19.000% credit enhancement if the Stepdown Date is reached on or after the Distribution Date in December 2012; (B) from the remaining Principal Distribution Amount for both Loan Groups, to the Certificate Insurer any Certificate Insurer Reimbursement Amounts due to the Certificate Insurer; and (C) from the remaining Principal Distribution Amount for both Loan Groups, (1) to the Holders of the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; (2) to the Holders of the Class B-2 Certificates, the Class B-2 Principal Distribution Amount (3) to the Holders of the Class B-3 Certificates, the Class B-3 Principal Distribution Amount; (4) to the Holders of the Class B-4 Certificates, the Class B-4 Principal Distribution Amount; (5) to the Holders of the Class B-5 Certificates, the Class B-5 Principal Distribution Amount; (6) to the Holders of the Class B-6 Certificates, the Class B-6 Principal Distribution Amount (7) to the Holders of the Class B-7 Certificates, the Class B-7 Principal Distribution Amount; and (8) for application as part of Net Monthly Excess Cashflow for such Distribution Date, as described under Section 5.01(a)(iv) below. (iv) On each Distribution Date, other than the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess Cashflow shall be distributed as follows: (A) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to the principal portion of Realized Losses previously allocated to reduce the Class Principal Balance of such certificates, pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal, but only to the extent of Recoveries for that Distribution Date: (B) as part of the Principal Distribution Amount, to pay to the Holders of the Senior Certificates and the Subordinate Certificates in reduction of their Class Principal Balances, the principal portion of Realized Losses incurred on the Mortgage Loans in the preceding calendar month; pro rata, to each such Class based on the Class Principal Balance of each such Certificate prior to such Distribution Date as a distribution in respect of principal; (C) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Extra Principal Distribution Amount, pro rata, to each such Class based on the Class Principal Balance of each such Class prior to such Distribution Date as a distribution in respect of principal; (D) to the Certificate Insurer, any unpaid remaining Certificate Insurer Reimbursement Amounts; (E) to the Holders of the Senior Certificates and the Subordinate Certificates, the amount of any Interest Shortfalls computed without regard to any Relief Act Reductions allocated thereto for such Distribution Date, on a pro rata basis based on Interest Shortfalls allocated thereto, to the extent not covered by the Servicing Fee on that Distribution Date; (F) to the Holders of the Senior Certificates and the Subordinate Certificates, any Interest Shortfalls remaining unpaid from prior Distribution Dates together with interest thereon, on a pro rata basis based on unpaid Interest Shortfalls computed without regard to any Relief Act Reductions previously allocated thereto; (G) to the Basis Risk Reserve Fund, the Required Reserve Fund Deposit, if any, and then from the Basis Risk Reserve Fund to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in order of priority of distribution, the amount of any Basis Risk Shortfall remaining unpaid as of such Distribution Date; (H) to the Holders of the Senior Certificates and the Subordinate Certificates, in an amount equal to any Interest Shortfalls resulting from Relief Act Reductions for such Distribution Date, pro rata, based on the amount of Interest Shortfalls resulting from Relief Act Reductions allocated to each Class for such Distribution Date; (I) to the Holders of the Senior Certificates, pro rata, and then to the Holders of the Subordinate Certificates, sequentially, in that order, the principal portion of any Allocated Realized Loss Amounts remaining unreimbursed; (J) to the Holders of the Class C Certificates, the Class C Distributable Amount; and (K) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (v) On the Distribution Date following the optional purchase of the Mortgage Loans pursuant to Section 10.01, Available Funds will be applied in the amounts and in the order specified above, except, no amounts will be distributed pursuant to Sections 5.01(a)(iv)(J) and 5.01(a)(iv)(K) above, and the portion of Available Funds remaining after the distribution pursuant to Section 5.01(a)(iv)(J) will be applied in the following order: (A) to the Holders of the Class C Certificates, the Class C Distributable Amount and any Premium Proceeds; and (B) to the Holder of the Class R Certificate, any Available Funds, other than any portion thereof in respect of Premium Proceeds, then remaining. (vi) With respect to any Distribution Date and Insured Amounts, the Trustee shall make payments pursuant to Sections 5.01(a)(i), 5.01(a)(ii) and 5.01(a)(iii), after application of Available Funds, with respect to the Insured Certificates, from the amount received by the Trustee under the Financial Guaranty Insurance Policy for such Distribution Date pursuant to Section 4.02. Funds received by the Trustee as a result of any claim under the Financial Guaranty Insurance Policy shall be applied solely to payments to the Insured Certificateholders and may not be applied to satisfy any other Classes of Certificates or costs, expenses or liabilities of the Servicer, the Trustee or the Trust Fund.