Common use of Miscellaneous REMIC Provisions Clause in Contracts

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that the Upper-Tier REMIC and the Lower-Tier REMIC shall be treated as REMICs under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A Certificates and the Class B Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class of "residual interest" with respect to the Upper-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A Certificates, Class LT-1 Certificates, Class LT-2 Certificates, Class LT-3 Certificates, Class LT-4 Certificates, Class LT-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL Certificates, which are hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests"). The Lower-Tier Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 Certificates, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Interest, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTLower-M CertificatesTier Interest 6, Class LTLower-AL Certificates, Class LT-5L Certificates Tier Interest 7 and Class LTLower-ML Certificates Tier Interest 8 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Interest, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. On each Payment Date, principal payments on the Mortgage Loans shall be allocated 98% to Lower-Tier Interest 8, 1% to Lower-Tier Interest 7, and 1% among Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, Lower-Tier Interest 4, Lower-Tier Interest 5, and Lower-Tier Interest 6 in the same proportions as principal is distributed on the Corresponding Class (as defined below) for each such Lower-Tier Interest.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 Certificates, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Interest, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.. Lower-Tier Interest 1 shall have an initial principal balance equal to one percent of the sum of the initial principal balances of the Group I Certificates (that is, $4,115,000). Lower-Tier Interest 2 shall have an initial principal balance equal to one percent of the Group I Original Balance (that is, $4,115,000). Lower-Tier Interest 3 shall have an initial principal balance equal to one percent of the initial principal balance of the Class A-7 Certificates (that is, $1,048,000). Lower-Tier Interest 4 shall have an initial principal balance equal to one percent of the Group II Original Balance (that is, $1,048,000). Lower-Tier Interest 5 shall have an initial principal balance equal to the excess of (i) the sum of the Group I Original Balance and the Group II Original Balance over (ii) the sum of the initial principal balances of Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, and Lower-tier Interest 4 (that is, $507,156,000). On each Payment Date, principal payments on the Mortgage Loans shall be allocated 99% to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5, and 1% to Lower-Tier Interest 1 and Lower-Tier Interest 3 until paid in full. The aggregate amount of principal allocated to the Lower-Tier Interest 1 and Lower-Tier Interest 3 shall be apportioned between such Interests in the same manner in which principal on the Mortgage Loans is payable with respect to the Group I Certificates and the Class A-7 Certificates, respectively. The aggregate amount of principal allocated to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 shall be allocated and apportioned among such Interests first, to Lower-Tier Interest 2 and Lower-Tier Interest 4 the least amount of principal necessary which when applied to such Interests can be applied so that the ratio of the principal balance of Lower-Tier Interest 2 to the principal balance of Lower-Tier Interest 4 equals the ratio of the sum of Loan Balances of the Mortgage Loans in Group I to the sum of the Loan Balances of the Mortgage Loans in Group II (the "Balance Ratio") and second, to Lower-Tier Interest 5. Any Overcollateralization Increase Amount will not be paid as interest to the Lower-Tier REMIC Regular Interests, but instead to the extent available, a portion of the interest payable with respect to Lower-Tier Interest 5 which equals 1% of the Overcollateralization Increase Amount (and, to the extent 1% of the Overcollateralization Increase Amount exceeds the interest payable on Lower-Tier Interest 5, a pro rata portion of the interest payable on the Lower-Tier Interest 2 and Lower-Tier Interest 4 equal to such excess) will be payable as a reduction of the principal balances of Lower-Tier Interest 1 and Lower-Tier Interest 3 in the same manner in which the Overcollateralization Increase Amount is allocated among the Class A-1, X-0, X-0, X-0, X-0, X-0 xxx Class A-7 Certificates, respectively (and will be accrued and added to principal on Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 in the same proportion as interest payable on such Interests is used to reduce principal on other Interests as just described). Notwithstanding the above, principal payments on the Mortgage Loans that are attributable to the Overcollateralization Reduction Amount shall be allocated to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 (allocated first to Lower-Tier Interest

Miscellaneous REMIC Provisions. (a) The Certificate Administrator as agent of the Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 6 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesCertificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesCertificate, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. The Lower-Tier REMIC Interests will have the following designations and Lower-Tier Pass-Through Rates, and distributions of principal, interest and Realized Losses thereon shall be allocated to the Certificates in the following manner: Lower-Tier Pass-Through Allocation of Allocation of Interests Initial Balance Rate Principal (3) Interest (4) --------- --------------- ---- ------------- ------------ 1 $216,200,000 (1) A1 A1, AIO 2 $4,600,000 (1) M1 M1, AIO 3 $2,760,000 (1) M2 M2, AIO 4 $2,760,000 (1) M3 M3, AIO 5 $3,680,000 (1) O AIO 6 (2) (2) (2) P Class RL (5) (5) (5) (5) (1) The Lower-Tier Pass-Through Rate on these Lower-Tier REMIC Regular Interests shall at any time of determination equal the Weighted Average Mortgage Rate of the Mortgage Loans. (2) Lower-Tier REMIC Interest 6 is entitled to distributions of all Prepayment Charges. It is not entitled to any other distributions of principal or interest. (3) Distributions of principal and Realized Losses from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (4) Distributions of interest from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1.

Miscellaneous REMIC Provisions. (a) The Trustee Trust shall elect that the Upper-Tier REMIC and the Lower-Tier REMIC shall be treated as REMICs under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A Certificates and A-1 Group I Certificates, the Class B Certificates A-2 Group I Certificates, the Class A-3 Group I Certificates, the Class A-4 Group I Certificates, the Class A-5 Group II Certificates, the uncertificated right of the 42 Supplemental Interest Account to receive the distributions described in Section 7.3(c) (the "Uncertificated Interest") are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class class of "residual interest" with respect to the Upper-Tier REMIC. The Class LT-1, LT-2, LT-3, LT-4, XX-0, XX-0, LT-7 and LT-8 Certificates are hereby designated as "regular interests" with respect to the Lower-Tier REMIC and the Class RL Certificates are hereby designated as the single class of "residual interest" with respect to the Lower-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A Certificates, Class LT-1 Certificates, Class LT-2 Certificates, Class LT-3 Certificates, Class LT-4 Certificates, Class LT-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in beneficial ownership interest of the Lower-Tier REMIC and shall be evidenced by the interests (y) the Class RL Certificates, which are hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests"). The Lower-Tier Regular Interests shall be recorded on ) having the records of the Lower-Tier REMIC characteristics and terms as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.follows: Original Final Class Companion Principal Interest Payment Designation Classes Balance Rate Date ----------- ------- ------- ---- ----

Miscellaneous REMIC Provisions. (a) The Trustee Indenture Trustee, as agent of the REMIC Trust, shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 6 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesR-1 Certificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesR-1 Certificate, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Indenture Trustee on behalf of the Upper-Tier REMIC.. Lower-Tier Interest 1 shall have an initial principal balance equal to one percent of the sum of the initial principal balances of the Class A Notes and the Mezzanine Notes (that is, $3,511,050.00). Lower-Tier Interest 2 shall have an initial principal balance equal to one percent of the original principal balance of the Mortgage Pool (that is, $3,511,050.00). Lower-Tier Interest 3 shall have an initial principal balance equal to the excess of (i) original principal balance of the Mortgage Pool over (ii) the sum of the initial principal balances of Lower-Tier Interest 1 and Lower-Tier Interest 2 (that is, $344,082,900.00). On each Payment Date, principal payments on the Mortgage Loans shall be allocated 99% to Lower-Tier Interest 2 and Lower-Tier Interest 3 and 1% to Lower-Tier Interest 1 until paid in full. Any Overcollateralization Increase Amount will not be paid as interest to the Lower-Tier REMIC Regular Interests, but instead to the extent available, a portion of the interest payable with respect to Lower-Tier Interest 3 which equals 1% of the Overcollateralization Increase Amount will be payable as a reduction of the principal balance of Lower-Tier Interest 1 in the same manner in which the Overcollateralization Increase Amount is allocated among the Class A Notes and the Mezzanine Notes, respectively (and will be accrued and added to principal on Lower-Tier Interest 3 in the same proportion as interest payable on such Interest is used to reduce principal on the other Interest as just described). Notwithstanding the above, principal payments on the Mortgage Loans that are attributable to the Overcollateralization Reduction Amount shall be allocated to Lower-Tier Interest 2 and Lower-Tier Interest 3 (allocated first to Lower-Tier Interest 3 until such certificates are paid in full, and second to Lower-Tier Interest 2). Realized Losses shall be applied such that after all distributions have been made on such Payment Date the principal balance of Lower-Tier Interest 1 is 1% of the principal balance of the Class A Notes and the Mezzanine Notes and the aggregate principal balance of Lower-Tier Interest 2 and Lower-Tier Interest 3 is equal to the sum of the principal balances of the Mortgage Loans less an amount equal to the principal balance of Lower-Tier Interest 1. Lower-Tier Interest 1, Lower-Tier Interest 2 and Lower-Tier Interest 3 shall each have Interest Rates equal to the Net WAC Rate. Lower-Tier Interest 4 shall have no principal balance and no Interest Rate and shall be entitled only to any Prepayment Charges. The Class R-1 Certificate shall have no principal balance and no Interest Rate and shall be entitled to only those distributable assets, if any, remaining in the Lower-Tier REMIC on each Payment Date after all amounts required to be distributed to Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3 and Lower-Tier Interest 4 and applicable Trust expenses have been paid. The Lower-Tier REMIC Interests will have the following designations and Interest Rates, and distributions of principal and interest thereon shall be allocated to the Notes and the Certificates in the following manner:

Miscellaneous REMIC Provisions. (a) The Trustee Trust shall elect that each of the Upper-Tier REMIC and REMIC, the Lower-Tier REMIC and REMIC I shall be treated as REMICs under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A A-1 Group I Certificates, the Class A-2 Group I Certificates, the Class A-3 Group I Certificates, the Class A-4 Group I Certificates, the Class A-5 Group I Certificates, the Class A-6 Group II Certificates and the Class B Certificates uncertificated right of the Supplemental Interest Account to receive the distributions described in Section 7.3(c) (the "Uncertificated Interest") are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class class of "residual interest" with respect to the Upper-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A CertificatesLT-1, Class LT-1 CertificatesLT-2, Class LT-2 CertificatesLT-3, Class LT-3 CertificatesLT-4, Class LT-4 CertificatesLT-5, Class LT-M CertificatesXX-0, Class LT-AL CertificatesXX-0, Class LT-5L LT-8 and LT-9 Certificates and Class LT-ML Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in with respect to the Lower-Tier REMIC and (y) the Class RL Certificates, which Certificates are hereby designated as the single class of "residual interest" in with respect to the Lower-Tier REMIC. The beneficial ownership interest of the Lower-Tier REMIC shall be evidenced by the interests (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests"). The Lower-Tier Regular Interests shall be recorded on ) having the records of the Lower-Tier REMIC characteristics and terms as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.follows:

Miscellaneous REMIC Provisions. (a) The Certificate Administrator as agent of the Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower- Tier Interest 5, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 6 (the "Lower-Tier REMIC Regular ------------------------ Interests"), which will be uncertificated and non-transferable and are hereby --------- designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesCertificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesCertificate, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC -------------------------- Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. The Lower-Tier REMIC Interests will have the following designations and Lower-Tier Pass-Through Rates, and distributions of principal, interest and Realized Losses thereon shall be allocated to the Certificates in the following manner: Lower-Tier Initial Pass-Through Allocation of Allocation of Interests Balance Rate Principal (3) Interest (4) --------- ------- ---- ------------- ------------ 1 $_________ (1) A1 A1, AIO 2 $_________ (1) M1 M1, AIO (1) M2 M2, AIO 4 $_________ (1) M3 M3, AIO 5 $_________ (6) (1) O AIO 6 (2) (2) (2) P Class RL (5) (5) (5) (5) (2) Lower-Tier REMIC Interest 6 is entitled to distributions of all Prepayment Charges. It is not entitled to any other distributions of principal or interest. (3) Distributions of principal and Realized Losses from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (4) Distributions of interest from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (5) On each Distribution Date, available funds, if any, remaining in the Lower- Tier REMIC after payments of interest and principal, as designated above, will be distributed to the Class RL Certificate. It is expected that there shall not be any distributions on the Class RL Certificate.

Miscellaneous REMIC Provisions. (a) The Certificate Administrator as agent of the Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower- Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 6 (the "Lower-Tier REMIC Regular ------------------------ Interests"), which will be uncertificated and non-transferable and are hereby --------- designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesCertificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesCertificate, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC -------------------------- Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. The Lower-Tier REMIC Interests will have the following designations and Lower-Tier Pass-Through Rates, and distributions of principal, interest and Realized Losses thereon shall be allocated to the Certificates in the following manner: Lower-Tier Pass-Through Allocation of Allocation of Interests Initial Balance Rate Principal (3) Interest (4) ------------------ ------------------- ---------------------- ---------------- -------------------- 1 $ 385,950,000 LIBOR + 0.28% (1) A1 A1, AIO 2 $ 8,300,000 LIBOR + 0.65% (1) M1 M1, AIO 3 $ 8,300,000 LIBOR + 1.35% (1) M2 M2, AIO 4 $ 6,225,000 LIBOR + 2.30% (1) M3 M3, AIO 5 $415,000,000 (6) (1) O AIO 6 $415,000,000 (6) (2) (2) P Class RL (5) (5) (5) (5) (1) The Lower-Tier Pass-Through Rate on these Lower-Tier REMIC Regular Interests shall at any time of determination equal the Weighted Average Mortgage Rate of the Mortgage Loans. (2) Lower-Tier REMIC Interest 6 is entitled to distributions of all Prepayment Charges. It is not entitled to any other distributions of principal or interest. (3) Distributions of principal and Realized Losses from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (4) Distributions of interest from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (5) On each Distribution Date, available funds, if any, remaining in the Lower- Tier REMIC after payments of interest and principal, as designated above, will be distributed to the Class RL Certificate. It is expected that there shall not be any distributions on the Class RL Certificate.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that the Upper-Tier REMIC and the Lower-Tier REMIC shall be treated as REMICs under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A Certificates (other than the Class A-5 Certificates), the Class A-5 Regular Interest and the Class B Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class of "residual interest" with respect to the Upper-Tier REMIC. Each Beneficial Owner of a Class A-5 Certificate shall be deemed to own an undivided beneficial ownership interest in two assets: (i) the Class A-5 Regular Interest and (ii) the Cap Agreement. The Cap Agreement is not included as part of either the Lower-Tier REMIC or the Upper-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A Certificates, Class LT-1 Certificates, Class LT-2 Certificates, Class LT-3 Certificates, Class LT-4 Certificates, Class LT-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML LT-5L Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL Certificates, which are hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests"). The Lower-Tier Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.

Miscellaneous REMIC Provisions. (a) The Certificate Administrator as agent of the Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTLower Tier Interest 6, Lower Tier Interest 7 and Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 8 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and ---------------------------------- non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesCertificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesCertificate, the "Lower-Tier REMIC ---------------- Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the --------- records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. The Lower-Tier REMIC Interests will have the following designations and Lower-Tier Pass-Through Rates, and distributions of principal, interest and Realized Losses thereon shall be allocated to the Certificates in the following manner: Lower-Tier Pass-Through Allocation of Allocation of Interests Initial Balance Rate Principal (3) Interest (4) --------- --------------- ---- ------------- ------------ 1 $200,000,000 (1) A1 A1, AIO 2 $200,000,000 (1) A2 A2, AIO 3 $344,000,000 (1) A3 A3, AIO 4 $16,000,000 (1) M1 M1, AIO 5 $16,000,000 (1) M2 M2, AIO 6 $12,000,000 (1) M3 M3, AIO 7 (6) (1) O AIO 8 $100 (2) P P Class RL (5) (5) (5) (5) (1) The Lower-Tier Pass-Through Rate on these Lower-Tier REMIC Regular Interests shall at any time of determination equal the Weighted Average Mortgage Rate of the Mortgage Loans. (2) Lower-Tier REMIC Interest 8 is entitled to distributions of all Prepayment Charges. (3) Distributions of principal and Realized Losses from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (4) Distributions of interest from the Lower-Tier REMIC Interests will be allocated to the related Upper-Tier REMIC Interests in the amounts and priorities provided for such Upper-Tier REMIC Interests in Section 4.1. (5) On each Distribution Date, available funds, if any, remaining in the Lower-Tier REMIC after payments of interest and principal, as designated above, will be distributed to the Class RL Certificate. It is expected that there shall not be any distributions on the Class RL Certificate. (6) The initial overcollateralization amount. (c) The Class A-1, Class A-2, Class A-3, Class AIO, Class M-1, Class M-2, Class M-3, Class O and Class P Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC (the "Upper-Tier REMIC Regular ------------------------ Interests") and the Class RU Certificate is hereby designated as the single --------- "residual interest" with respect to the Upper-Tier REMIC. On each Distribution Date, available funds, if any, remaining in the Upper-Tier REMIC after payments of interest and principal as designated herein shall be distributed to the Class RU Certificates. (d) For federal income tax purposes, the "latest possible maturity date" for each of the Lower-Tier REMIC Regular Interests and Upper-Tier REMIC Regular Interests is hereby set to be the Distribution Date of September, 2031.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts, any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-tier Interest 4, Class LT-4 Certificates, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Class, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Class, the "Lower-Tier InterestsREMIC Certificates"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.. Lower-Tier Interest 1 shall have an initial principal balance equal to one percent of the initial principal balance of the Class A-1 Certificates (that is, $5,000,000). Lower-Tier Interest 2 shall have an initial principal balance equal to one percent of the Group I Original Pool Balance (that is, $5,000,000). Lower-Tier Interest 3 shall have an initial principal balance equal to one percent of the initial principal balance of the Class A-2 Certificates (that is, $5,000,000) Lower-Tier Interest 4 shall have an initial principal balance equal to one percent of the Group II Original Pool Balance (that is, $5,000,000). Lower-Tier Interest 5 shall have an initial principal 32 40 balance equal to the excess of (i) the sum of the Group I Original Pool Balance and the Group II Original Pool Balance over (ii) the sum of the initial principal balances of Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, and Lower-Tier Interest 4 (that is, $980,000,000). On each Payment Date, principal payments on the Mortgage Loans shall be allocated 99% to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5, and 1% to Lower-Tier Interest 1 and Lower-Tier Interest 3 until paid in full. The aggregate amount of principal allocated to the Lower-Tier Interest 1 and Lower-Tier Interest 3 shall be apportioned between such Interests in the same manner in which principal on the Mortgage Loans is payable with respect to the Class A-1 and Class A-2 Certificates, respectively. The aggregate amount of principal allocated to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 shall be allocated and apportioned among such Interests first, to Lower-Tier Interest 2 and Lower-Tier Interest 4 the least amount of principal necessary which when applied to such Interests can be applied so that the ratio of the principal balance of Lower-Tier Interest 2 to the principal balance of Lower-Tier Interest 4 equals the ratio of the sum of Loan Balances of the Mortgage Loans in Group I to the sum of the Loan Balances of the Mortgage Loans in Group II (the "Balance Ratio") and second, to Lower-Tier Interest 5. Any Subordination Increase Amount will not be paid as interest to the Lower-Tier REMIC Regular Interests, but instead to the extent available, a portion of the interest payable with respect to Lower-Tier Interest 5 which equals 1% of the Subordination Increase Amount (and, to the extent 1% of the Subordination Increase Amount exceeds the interest payable on Lower-Tier Interest 5, a pro rata portion of the interest payable on the Lower-Tier Interest 2 and Lower-Tier Interest 4 equal to such excess) will be payable as a reduction of the principal balances of Lower-Tier Interest 1 and Lower-Tier Interest 3 in the same manner in which the Subordination Increase Amount is allocated among the Class A-1 and Class A-2 Certificates, respectively (and will be accrued and added to principal on Lower-Tier Interest 2 and Lower-Tier Interest 4 in the same proportion as interest payable on such Interests is used to reduce principal on other Interests as just described). Notwithstanding the above, principal payments on the Mortgage Loans that are attributable to the Overcollateralization Release Amount shall be allocated to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 (allocated first to Lower-Tier Interest 5 until such certificates are paid in full, and second to Lower-Tier Interest 2 and Lower-Tier Interest 4 and apportioned between Lower-Tier Interest 2 and Lower-Tier Interest 4 in such a manner that the Balance Ratio is maintained until paid in full). Realized Losses shall be applied such that after all distributions have been made on such Payment Date the principal balances Lower-Tier Interest 1 and Lower-Tier Interest 3 are each 1% of the principal balances of the Class A-1 and Class A-2 Certificates, respectively, and the aggregate principal balance of Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5 is equal to the sum of the Loan Balances of the Mortgage Loans less an amount equal to the sum of the principal balances of Lower-Tier Interest 1 and Lower-Tier Interest 3 and is allocated and apportioned first, to Lower-Tier Interest 2 and Lower-Tier Interest 4 the least amount of Realized Losses necessary which when applied to such Interests can be applied in such a manner that the Balance Ratio is maintained, and second, to Lower-Tier Interest 5. Lower-Tier Interest 1 and Lower-Tier Interest 2 shall each have Pass-Through Rates equal to the Group I Net Weighted Average Coupon Rate (the sum expressed as a per annum rate on the sum of the Loan Balances for Mortgage Loans in Group I). Lower-Tier Interest 3 and Lower-Tier Interest 4 shall each have a Pass-Through Rate equal to the Group II Net

Miscellaneous REMIC Provisions. (a) The Certificate Administrator as agent of the Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (other than the Non-REMIC Accounts), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 CertificatesLower-Tier Interest 5, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 6 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesCertificate, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesCertificate, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.. The Lower-Tier REMIC Interests will have the following designations and Lower-Tier Pass-Through Rates, and distributions of principal, interest and Realized Losses thereon shall be allocated to the Certificates in the following manner:

Miscellaneous REMIC Provisions. (a) The Trustee Trust shall elect that the Upper-Tier REMIC and the Lower-Tier REMIC shall be treated as REMICs REMICS under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A Certificates and the Class B Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class of "residual interest" with respect to the Upper-Tier REMIC. The Class LT Certificates are hereby designated as "regular interests" with respect to the Lower-Tier REMIC and the Class RL Certificates are hereby designated as the single class of "residual interest" with respect to the Lower-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A Certificates, Class LT-1 Certificates, Class LT-2 Certificates, Class LT-3 Certificates, Class LT-4 Certificates, Class LT-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in beneficial ownership interest of the Lower-Tier REMIC and shall be evidenced by the interests (y) the Class RL Certificates, which are hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests")) having the characteristics and terms as follows: Original Class Companion Principal Interest Final Scheduled Designation Classes Balance Rate Payment Date ------------ ------------ --------------- -------- ------------------- LT A, B $80,000,000 (1) January 25, 2028 RL N/A (2) (2) January 25, 2028 (1) The Net Weighted Average Coupon Rate of the Mortgage Loans. (2) The RL Certificate has no principal balance and does not bear interest. The Lower-Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC. On each Payment Date, the Lower Tier Distribution Amount shall be applied as principal and interest of particular Lower Tier Interests, other than the RL Certificate, in amounts corresponding to the aggregate respective amounts required to be applied as principal and interest of their related Companion Classes (as set forth above) pursuant to the priorities set forth in section 7.5 hereof. No distributions will be made on the Class RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the holder thereof upon presentation and surrender of the Class RL Certificate. (d) The Startup Day is hereby designated as the "startup day" of the Trust within the meaning of Section 860G(a)(9) of the Code.

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 Certificates, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Interest, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.. Lower-Tier Interest 1 shall have an initial principal balance equal to one percent of the sum of the initial principal balances of the Group I Certificates (that is, $3,750,000). Lower-Tier Interest 2 shall have an initial principal balance equal to one percent of the Group I Original Balance (that is, $3,776,435). Lower-Tier Interest 3 shall have an initial principal balance equal to one percent of the initial principal balance of the Class A-7 Certificates (that is, $1,500,000). Lower-Tier Interest 4 shall have an initial principal balance equal to one percent of the Group II Original Balance (that is, $1,556,824). Lower-Tier Interest 5 shall have an initial principal balance equal to the excess of (i) the sum of the Group I Original Balance and the Group II Original Balance over (ii) the sum of the initial principal balances of Lower-Tier Interest 1, Lower-Tier Interest 2, Lower-Tier Interest 3, and Lower-tier Interest 4 (that is, $522,742,652). On each Payment Date, principal payments on the Mortgage Loans shall be allocated 99% to Lower-Tier Interest 2, Lower-Tier Interest 4 and Lower-Tier Interest 5, and 1% to Lower-Tier Interest 1 and Lower-Tier Interest 3 until paid in full. The aggregate amount of principal allocated to the Lower-Tier Interest 1 and Lower-Tier Interest 3 shall be apportioned

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that each of the UpperLower-Tier REMIC and the LowerUpper-Tier REMIC shall be treated as REMICs a REMIC under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. (b) . The Class A Certificates and assets of the Class B Certificates are hereby designated as "regular interests" with respect to the UpperLower-Tier REMIC shall include the Mortgage Loans, the Accounts (except for the Non-REMIC Estate), any REO Property, and any proceeds of the Class RU Certificates are hereby designated foregoing. The Lower-Tier REMIC Regular Interests (as defined below) shall constitute the single Class assets of "residual interest" with respect to the Upper-Tier REMIC. (cb) The Lower-Tier REMIC will be evidenced by (x) the Class LTLower-A CertificatesTier Interest 1, Class LT-1 CertificatesLower-Tier Interest 2, Class LT-2 CertificatesLower-Tier Interest 3, Class LT-3 CertificatesLower-Tier Interest 4, Class LT-4 Certificates, Class LTand Lower-M Certificates, Class LT-AL Certificates, Class LT-5L Certificates and Class LT-ML Certificates Tier Interest 5 (the "Lower-Tier REMIC Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL CertificatesLower-Tier REMIC Residual Interest, which are is hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier REMIC Regular Interests, together with the Class RL CertificatesLower-Tier REMIC Residual Interest, the "Lower-Tier REMIC Interests"). The Lower-Tier REMIC Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.. Lower-Tier Interest 1 shall have an initial principal balance equal to one percent of the sum of the initial principal balances of the Group I Certificates (that is, $4,000,000). Lower-Tier Interest 2 shall have an initial principal balance equal to one percent of the Group I Original Balance (that is, $4,000,000). Lower-Tier Interest 3 shall have an initial principal

Miscellaneous REMIC Provisions. (a) The Trustee shall elect that the Upper-Tier REMIC and the Lower-Tier REMIC shall be treated as REMICs under Section 860D of the Code, as described in Section 11.15. Any inconsistencies or ambiguities in this Agreement or in the administration of the Trust shall be resolved in a manner that preserves the validity of such REMIC elections. (b) The Class A Certificates and the Class B Certificates are hereby designated as "regular interests" with respect to the Upper-Tier REMIC and the Class RU Certificates are hereby designated as the single Class of "residual interest" with respect to the Upper-Tier REMIC. (c) The Lower-Tier REMIC will be evidenced by (x) the Class LT-A CertificatesA, Class LT-1 CertificatesLT-1, Class LT-2 CertificatesLT-2, Class LT-3 CertificatesLT-3, Class LT-4 CertificatesLT-4, Class LT-M CertificatesM, Class LT-AL CertificatesAL, Class LT-5L Certificates and Class LT-LT- ML Certificates (the "Lower-Tier Regular Interests"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Lower-Tier REMIC and (y) the Class RL Certificates, which are hereby designated as the single "residual interest" in the Lower-Tier REMIC (the Lower-Tier Regular Interests, together with the Class RL Certificates, the "Lower-Tier Interests"). The Lower-Tier Regular Interests shall be recorded on the records of the Lower-Tier REMIC as being issued to and held by the Trustee on behalf of the Upper-Tier REMIC.