Common use of REMIC 2 Clause in Contracts

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the deemed obligation to make payments in respect of Class Payment Shortfalls) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 Interest being related to the Class A-1 Certificates, the REMIC 2 A-2A Interest being related to the Class A-2A Certificates, the REMIC 2 A-2B Interest being related to the Class A-2B Certificates, the REMIC 2 A-2C Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid and allocated to the REMIC 2 CE-2 Interest equal to amounts paid and allocated to the Class LT1-CE2 Interest. Amounts shall be deemed paid and allocated to the REMIC 2 IO Interest equal to amounts paid and allocated to the Class LT1-IO Interest. On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the Net WAC Carryover Amounts, which shall be deemed obligation to make payments paid in respect of Class Payment Shortfallsthe REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxxvi) or (xxxvii)) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 AV-1 Interest being related to the Class A-1 AV-1 Certificates, the REMIC 2 A-2A AV-2 Interest being related to the Class A-2A AV-2 Certificates, the REMIC 2 A-2B AV-3 Interest being related to the Class A-2B Certificates, the REMIC 2 A-2C Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D AV-3 Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid and allocated to , the REMIC 2 CE-2 B-4 Interest equal to amounts paid and allocated being related to the Class LT1-CE2 Interest. Amounts shall be deemed paid and allocated to B-4 Certificates, the REMIC 2 IO B-5 Interest equal to amounts paid and allocated being related to the Class LT1-IO InterestB-5 Certificates and the REMIC 2 B-6 Interest being related to the Class B-6 Certificates). On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 X or Class N Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the deemed obligation to make payments in respect of Class Payment Shortfalls) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 AV-1 Interest being related to the Class A-1 AV-1 Certificates, the REMIC 2 A-2A AV-2 Interest being related to the Class A-2A AV-2 Certificates, the REMIC 2 A-2B AV-3 Interest being related to the Class A-2B AV-3 Certificates, the REMIC 2 A-2C AV-4 Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D AV-4 Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid , and allocated to the REMIC 2 CE-2 B-4 Interest equal to amounts paid and allocated being related to the Class LT1-CE2 InterestB-4 Certificates). Amounts shall be deemed paid and allocated to the REMIC 2 IO Interest equal to amounts paid and allocated to the Class LT1-IO Interest. On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 CE Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 CE Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the Net WAC Carryover Amounts, which shall be deemed obligation to make payments paid in respect of Class Payment Shortfallsthe REMIC 2 X/N Interest if made from sources other than the Reserve Account) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 AV Interest being related to the Class A-1 Certificates, the REMIC 2 A-2A Interest being related to the Class A-2A Certificates, the REMIC 2 A-2B Interest being related to the Class A-2B Certificates, the REMIC 2 A-2C Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D AV Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid and allocated to , the REMIC 2 CE-2 B-4 Interest equal to amounts paid and allocated being related to the Class LT1-CE2 Interest. Amounts shall be deemed paid B-4 Certificates and allocated to the REMIC 2 IO B-5 Interest equal to amounts paid and allocated being related to the Class LT1-IO InterestB-5 Certificates). On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 X or Class N Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the Net WAC Amounts, which shall be deemed obligation to make payments paid in respect of Class Payment Shortfallsthe REMIC 2 X/N Interest if made from sources other than the Reserve Account) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 Interest being related to the Class A-1 Certificates, the REMIC 2 A-2A A-2 Interest being related to the Class A-2A A-2 Certificates, the REMIC 2 A-2B A-3 Interest being related to the Class A-2B A-3 Certificates, the REMIC 2 A-2C A-4 Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D A-4 Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid and allocated to , the REMIC 2 CE-2 B-4 Interest equal to amounts paid and allocated being related to the Class LT1-CE2 Interest. Amounts shall be deemed paid B-4 Certificates and allocated to the REMIC 2 IO B-5 Interest equal to amounts paid and allocated being related to the Class LT1-IO InterestB-5 Certificates). On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 X or Class N Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2R-2 Interest. If on any Distribution Date the Certificate Principal Balance of any Class of Certificates is increased pursuant to the last sentence of the definition of “Certificate Principal Balance”, then there shall be an equivalent increase in the principal amounts of the REMIC 2 Regular Interests, with each Corresponding REMIC 2 Regular Interest having an increase in its principal amount equal to the increase in the Certificate Principal Balance of the Corresponding Cap Carryover Certificates.

REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Excess Interest and disregarding the LIBOR Carryover Amounts, which shall be deemed obligation to make payments paid in respect of Class Payment Shortfallsthe REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxvii) or (xxviii)) are paid or allocated in respect of the related Certificates (the REMIC 2 A-1 AV-1 Interest being related to the Class A-1 AV-1 Certificates, the REMIC 2 A-2A AF-3 Interest being related to the Class A-2A Certificates, the REMIC 2 A-2B Interest being related to the Class A-2B Certificates, the REMIC 2 A-2C Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D AF-3 Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates and Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates). Amounts shall be deemed paid Certificates and allocated to the REMIC 2 CE-2 B-4 Interest equal to amounts paid and allocated being related to the Class LT1-CE2 Interest. Amounts shall be deemed paid and allocated to the REMIC 2 IO Interest equal to amounts paid and allocated to the Class LT1-IO InterestB-4 Certificates). On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 CE-1 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class CE-1 X or Class N Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2