Common use of Issuance of Certificates and the Uncertificated Regular Interests Clause in Contracts

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X and Residual Certificates) in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X and Class R Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are issuable only in minimum Percentage Interests of 50%. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests and the uncertificated REMIC X/N Regular Interests and declares that it holds the REMIC 1 Regular Interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and the REMIC 2 X/N Interest as the asset of REMIC X/N. The Trustee acknowledges the issuance of the uncertificated REMIC X/N X/N Interest, beneficial ownership of which is evidenced by the Class X/N Interest, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N and Class X Certificates. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X CE, Class P and Residual Certificates) in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X CE and Class R P Certificates are issuable only in minimum any Percentage Interests Interest; provided, however, at no time shall there be more than ten (10) Certificates of 10%each such Class. The Each Class R-X Certificates are of Residual Certificate is issuable only in minimum Percentage Interests of 50%as a single Certificate. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests and the uncertificated REMIC X/N Regular Interests and declares that it holds the REMIC 1 Regular Interests such regular interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and the REMIC 2 X/N Interest as the asset of REMIC X/N. . The Trustee acknowledges the issuance of the uncertificated REMIC X/N X/N Interest, beneficial ownership 2 Regular Interests and declares that it holds such regular interests as assets of which is evidenced by REMIC 3. The Trustee acknowledges the issuance of the uncertificated Class CX XXXXX 3 Regular Interest and declares that it holds such regular interest as the asset of REMIC 4. The Trustee acknowledges the issuance of the uncertificated Class P REMIC 3 Regular Interest and declares that it holds such regular interest as the asset of REMIC 5. The Trustee acknowledges the issuance of the uncertificated Class Swap-IO REMIC 3 Regular Interest and declares that it holds such regular interest as the asset of REMIC 6. The Trustee acknowledges the obligation of the Class X/N InterestCE Certificates to pay Cap Carryover Amounts, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N Offered Certificates and Class X B Certificates, which shall be treated as beneficially owning the right to receive the Cap Carryover Amounts. The interests evidenced by the Certificates and the Class Swap-IO REMIC 6 Regular Interest constitute the entire beneficial ownership interest in the Trust Fund. Back The Trustee acknowledges the obligation of the Offered Certificates and Class B Certificates to Contentspay Class IO Distribution Amounts. The “latest possible maturity date” for all REMIC Regular Interests pursuant to Section 1.860G-1(a)(4)(iii) of the Treasury regulations is the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date.

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X and Residual Certificates) in minimum dollar denominations or of $25,000 100,000 and integral dollar multiples of $1 in excess. The Class X CE and Class R P Certificates are issuable only in minimum Percentage Interests of 10%. The Class R and Class R-X Certificates are issuable only in minimum Percentage Interests of 50100%. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests and the uncertificated REMIC X/N Regular Interests and declares that it holds the REMIC 1 Regular Interests such regular interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and the REMIC 2 X/N Interest as the asset of REMIC X/N. . The Trustee acknowledges the issuance of the uncertificated REMIC X/N X/N Interest, beneficial ownership 2 Regular Interests and declares that it holds such regular interests as assets of which is evidenced by REMIC 3. The Trustee acknowledges the obligation of the Class X/N InterestCE-1 Certificates to pay Cap Carryover Amounts, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N A, Class B and Class X M Certificates, respectively, which shall be treated as beneficially owning the right to receive the Cap Carryover Amounts. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back The Trustee acknowledges the issuance of the uncertificated REMIC 3 Class CE-1 Interest and declares that it holds such regular interest as the asset of REMIC A. The Trustee acknowledges the issuance of the uncertificated REMIC 3 Class P Interest and declares that it holds such regular interest as the asset of REMIC B. The Trustee acknowledges the issuance of the uncertificated REMIC 3 Class B-1 Regular Interest and declares that it holds such regular interest as the asset of REMIC C. The Trustee acknowledges the issuance of the uncertificated REMIC 3 Class CE-2 Interest and declares that it holds such regular interest as the asset of REMIC D. The Trustee acknowledges the obligation of the Class CE Certificate to Contentspay Cap Carryover Amounts, Swap Termination Payments and Class Swap-IO Distribution Amounts. The Trustee also acknowledges the obligation of the Offered Certificates and Class B-1 Certificates to pay Class SWAP-IO Distribution Amounts. The “latest possible maturity date” for all REMIC Regular Interests pursuant to Section 1.860G-1(a)(4)(iii) of the Treasury Regulations is the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date.

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X CE-1 and Residual Certificates) 72 in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X CE-1 and Class R Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are issuable only in minimum Percentage Interests of 50%. The Trustee acknowledges the issuance of the uncertificated SWAP REMIC Regular Interests, the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC M-5 Regular Interests, the uncertificated REMIC M-6 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests, the uncertificated REMIC CE-1 Regular Interests and the uncertificated REMIC X/N IO Regular Interests and declares that it holds the SWAP REMIC Regular Interests as assets of REMIC 1, the REMIC 1 Regular Interests as assets of REMIC 2, the REMIC 2 M-5 Interest as the asset of REMIC M-5, the REMIC 2 M-6 Interest as the asset of REMIC M-6, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and B-5, the REMIC 2 X/N CE-1 Interest as the asset of REMIC X/N. The Trustee acknowledges CE-1, the issuance REMIC 2 IO Interest as the asset of REMIC IO and the uncertificated REMIC X/N X/N Interest, beneficial ownership 2 CE-2 Interest as the asset of which is evidenced by the Class X/N Interest, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N and Class X CertificatesREMIC CE-2. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents.

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) on its behalf of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the TrusteeSecurities Administrator, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X CE, Class P and Residual Class R Certificates) in minimum dollar denominations or of $25,000 and integral dollar multiples of $1 in excess. The Class X CE and Class R P Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are R Certificate is issuable only in minimum Percentage Interests of 50%as a single certificate. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests and the uncertificated REMIC X/N Regular Interests and declares that it holds the REMIC 1 Regular Interests hold such regular interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and the REMIC 2 X/N Interest as the asset of REMIC X/N. . The Trustee acknowledges the issuance obligation of the uncertificated REMIC X/N X/N Interest, beneficial ownership of which is evidenced by the Class X/N InterestCE Certificates to pay Cap Carryover Amounts, and declares that it holds hold the same as assets of the Grantor Trust on behalf of the Holders of the Class N AI-1A, Class AII-1A, Class AII-1B, Class AIII-1, Class AIII-2, Class AIII-3, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8A and Class X M-9 Certificates, respectively. In addition to the assets described in the preceding sentence, the assets of the Grantor Trust shall also include (i) Prepayment Penalties, any Servicer Prepayment Penalty Payment Amounts, any Originator Prepayment Penalty Payment Amounts and the beneficial interest of the Class P Certificates with respect thereto and (ii) the Yield Maintenance Agreements, the Reserve Accounts and the beneficial interest of the Class CE Certificates with respect thereto, subject to the obligation to pay Cap Carryover Amounts. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents.

Issuance of Certificates and the Uncertificated Regular Interests. (i) The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the TrusteeTrustee shall, pursuant to the a Written Order to Authenticate executed by an officer of the Depositordelivered in accordance with Section 5.01, has executed, execute and deliver to the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X and Residual Certificates) as provided for in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X and Class R Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are issuable only in minimum Percentage Interests of 50%Section 5.01. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 Regular Interests and the uncertificated REMIC X/N Uncertificated Regular Interests and declares 66 that it holds hold such regular interests in trust for the exclusive use and benefit of the Offered Certificates and the REMIC 1 2 Uncertificated Regular Interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 and the REMIC 2 X/N Interest as the asset of REMIC X/N. . (ii) The Trustee acknowledges the issuance of the uncertificated REMIC X/N X/N Class M-3 Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class M-3 Certificates and the Class RX Certificates (in respect of the Class R-3 Interest, beneficial ownership of which is ). The interests evidenced by the Class X/N R-3 Interest, together with the Class M-3 Certificates, constitute the entire beneficial ownership interest in REMIC 3. (iii) The Trustee acknowledges the issuance of the Class M-4 Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class M-4 Certificates and the Class RX Certificates (in respect of the Class R-4 Interest). The interests evidenced by the Class R-4 Interest, together with the Class M-4 Certificates, constitute the entire beneficial ownership interest in REMIC 4. (iv) The Trustee acknowledges the issuance of the Class M-5 Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class M-5 Certificates and the Class RX Certificates (in respect of the Class R-5 Interest). The interests evidenced by the Class R-5 Interest, together with the Class M-5 Certificates, constitute the entire beneficial ownership interest in REMIC 5. (v) The Trustee acknowledges the issuance of the Class M-6 Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class M-6 Certificates and the Class RX Certificates (in respect of the Class R-6 Interest). The interests evidenced by the Class R-6 Interest, together with the Class M-6 Certificates, constitute the entire beneficial ownership interest in REMIC 6. (vi) The Trustee acknowledges the issuance of the Class M-7 Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class M-7 Certificates and the Class RX Certificates (in respect of the Class R-7 Interest). The interests evidenced by the Class R-7 Interest, together with the Class M-7 Certificates, constitute the entire beneficial ownership interest in REMIC 7. (vii) The Trustee acknowledges the issuance of the Class CE Interest and declares that it holds such regular interest for the exclusive use and the benefit of the Holders of the Class CE Certificates and the Class RX Certificates (in respect of the Class R-8 Interest). The interests evidenced by the Class R-8 Interest, together with the Class CE Certificates, constitute the entire beneficial ownership interest in REMIC 8. (viii) The Trustee acknowledges the obligation of the Class CE Certificates to pay Net WAC Rate Carryover Amounts, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class X M-7 Certificates, respectively. In addition to the assets described in the preceding sentence, the assets of the Grantor Trust shall also include (i) any Prepayment Charges, Servicer Prepayment Charge Payment Amounts, Transferor Prepayment Charge Payment Amounts and the beneficial interest of the Class P Certificates with respect thereto and (ii) the Yield Maintenance Agreement, the Reserve Account and the beneficial interest of the Class CE Certificates with respect thereto, subject to the obligation to pay Net WAC Rate Carryover Amounts. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents.

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X CE and Residual Certificates) in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X CE and Class R Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are issuable only in minimum Percentage Interests of 50%. The Trustee acknowledges the issuance of the uncertificated SWAP REMIC Regular Interests, the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 Regular Interests, the uncertificated REMIC B-2 Regular Interests, the uncertificated REMIC B-3 Regular Interests, the uncertificated REMIC B-4 Regular Interests, the uncertificated REMIC B-5 CE Regular Interests and the uncertificated REMIC X/N IO Regular Interests and declares that it holds the SWAP REMIC Regular Interests as assets of REMIC 1, the REMIC 1 Regular Interests as assets of REMIC 2, the REMIC 2 B-1 Interest as the asset of REMIC B-1, the REMIC 2 B-2 Interest as the asset of REMIC B-2, the REMIC 2 B-3 Interest as the asset of REMIC B-3, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 CE Interest as the asset of REMIC B-5 CE and the REMIC 2 X/N IO Interest as the asset of REMIC X/N. The Trustee acknowledges the issuance of the uncertificated REMIC X/N X/N Interest, beneficial ownership of which is evidenced by the Class X/N Interest, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N and Class X CertificatesIO. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents.

Issuance of Certificates and the Uncertificated Regular Interests. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery to it (or the Custodian, as bailee and Custodian of the Trustee) of the Mortgage Files, subject to the provisions of Sections 2.01 and 2.02, and the Trustee acknowledges the assignment to it of all other assets included in the Trust Fund, receipt of which is hereby acknowledged. Concurrently with such assignment and delivery and in exchange therefor, the Trustee, pursuant to the Written Order to Authenticate executed by an officer of the Depositor, has executed, and the Certificate Registrar has authenticated and delivered to or upon the order of the Depositor, the Certificates (other than the Class X and Residual Certificates) in minimum dollar denominations or $25,000 and integral dollar multiples of $1 in excess. The Class X and Class R Certificates are issuable only in minimum Percentage Interests of 10%. The Class R-X Certificates are issuable only in minimum Percentage Interests of 50%. The Trustee acknowledges the issuance of the uncertificated REMIC 1 Regular Interests, the uncertificated REMIC 2 Regular Interests, the uncertificated REMIC B-1 4 Regular Interests, the uncertificated REMIC B-2 5 Regular Interests, the uncertificated REMIC B-3 6 Regular Interests, the uncertificated REMIC B-4 7 Regular Interests, the uncertificated REMIC B-5 8 Regular Interests and the uncertificated REMIC X/N 9 Regular Interests and declares that it holds the REMIC 1 Regular Interests as assets of REMIC 2, the REMIC 2 AF-3 Interest as the asset of REMIC 3, the REMIC 2 M-3 Interest as the asset of REIMC 4, the REMIC 2 B-1 Interest as the asset of REMIC B-15, the REMIC 2 B-2 Interest as the asset of REMIC B-26, the REMIC 2 B-3 Interest as the asset of REMIC B-37, the REMIC 2 B-4 Interest as the asset of REMIC B-4, the REMIC 2 B-5 Interest as the asset of REMIC B-5 8 and the REMIC 2 X/N Interest as the asset of REMIC X/N. 9. The Trustee acknowledges the issuance of the uncertificated REMIC X/N 9 X/N Interest, beneficial ownership of which is evidenced by the Class X/N Interest, and declares that it holds the same as assets of the Grantor Trust on behalf of the Holders of the Class N and Class X Certificates. The interests evidenced by the Certificates constitute the entire beneficial ownership interest in the Trust Fund. Back to Contents.