Common use of Lower-Tier REMIC Clause in Contracts

Lower-Tier REMIC. The Lower-Tier REMIC will hold the Mortgage Loans (exclusive of Excess Interest) and will issue the Class LA1, Class LA2, Class LASB, Class LA3, Class LA4, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG and LRR Uncertificated Interests (the “Lower-Tier Regular Interests”), which will evidence the “regular interests” in the Lower-Tier REMIC created hereunder. The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class of “residual interests” in the Lower-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates. The following table sets forth the Original Lower-Tier Principal Amounts and per annum rates of interest for the Lower-Tier Regular Interests and the Class LR Interest: Class LA1 (1) $ 33,805,000 Class LA2 (1) $ 88,384,000 Class LASB (1) $ 44,824,000 Class LA3 (1) $ 235,000,000 Class LA4 (1) $ 268,432,000 Class LAS (1) $ 67,045,000 Class LB (1) $ 43,100,000 Class LC (1) $ 45,494,000 Class LD (1) $ 56,270,000 Class LE (1) $ 21,550,000 Class LF (1) $ 10,775,000 Class LG (1) $ 43,100,400 Class LR None(2) None LRR (1) $ 50,409,442