Common use of Reserve Fund Clause in Contracts

Reserve Fund. No later than the Closing Date, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for registered Holders of First Franklin Mortgage Loan Trust 2001-FF1, Asset-Backed Certificates, Series 2001-FF1." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee Trustee, on behalf of the Certificateholders, shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Deutsche Bank Minnesota, N.A.National Trust Company, as XxxxteeTrustee, in trust for registered Holders of First Franklin Long Beach Mortgage Loan Trust 20012003-FF14, Asset-Backed Certificates, Series 20012003-FF14." The Trustee shall account for the right to receive payments from the Reserve Fund as property that the Trustee holds separate and apart from the REMIC Regular Interests. (a) The following amounts shall be deposited into the Reserve Fund: (i) On each Distribution Date, the Trustee shall deposit all amounts received with respect to the Cap Agreement; (ii) On the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund $1,000. ; (iii) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any of the Class A AV Certificates or the Mezzanine Certificates, the Trustee has been directed by the Holders of the Class C Certificateholders Certificates to, and therefore willshall, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(i)(o), rather than distributing such amounts to the Class C Certificateholders. ; and (iv) On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts Date as to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If which there are no Net WAC Rate Carryover Amounts are payable on a Distribution DateAmounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class C CertificateholdersCertificates, from amounts otherwise distributable to the such Class C CertificateholdersCertificates, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. (b) The Reserve Fund shall be segregated into two separate portions, for which the Trustee shall keep separate accounts. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners "Portion 1" of the Reserve Fund and all will consist of amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as pursuant to Section 3.26(a)(i), above, plus any amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining earned on any such funds while on deposit in the Reserve Fund will be released by Fund. "Portion 2" of the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part consist of the Trust but not part of any REMIC and any payments amounts deposited pursuant to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1Sections 3.26(a)(ii). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee(a)(iii), and (a)(iv), above, plus any amounts earned on any such funds while on deposit in the Trustee hereby is directed, to deposit into Reserve Fund. Amounts distributed from the Reserve Fund the amounts described above on each Distribution Date as under Sections 4.01(d)(ii) and 3.26(c) shall be deemed to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency be distributed first from Portion 1 of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, extent thereof and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn then from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroPortion 2.

Reserve Fund. No later than the Closing Date, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Wxxxx Fargo Bank Minnesota, N.A., as XxxxteeTrustee, in trust for registered Holders of First Franklin Option One Mortgage Loan Trust 2001-FF12, Asset-Backed Certificates, Series 20012000-FF10." On Xx the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(viii), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 3 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Wac Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee Trustee, on behalf of the Certificateholders, shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Deutsche Bank Minnesota, N.A.National Trust Company, as XxxxteeTrustee, in trust for registered Holders of First Franklin Long Beach Mortgage Loan Trust 20012003-FF12, Asset-Backed Certificates, Series 20012003-FF12." The Trustee shall account for the right to receive payments from the Reserve Fund as property that the Trustee holds separate and apart from the REMIC Regular Interests. (a) The following amounts shall be deposited into the Reserve Fund: (i) On each Distribution Date, the Trustee shall deposit all amounts received with respect to the Cap Agreement; (ii) On the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund $1,000. ; (iii) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any of the Class A AV Certificates or the Mezzanine Certificates, the Trustee has been directed by the Holders of the Class C Certificateholders Certificates to, and therefore willshall, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(i)(m), rather than distributing such amounts to the Class C Certificateholders. ; and (iv) On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts Date as to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If which there are no Net WAC Rate Carryover Amounts are payable on a Distribution DateAmounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class C CertificateholdersCertificates, from amounts otherwise distributable to the such Class C CertificateholdersCertificates, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. (b) The Reserve Fund shall be segregated into two separate portions, for which the Trustee shall keep separate accounts. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners "Portion 1" of the Reserve Fund and all will consist of amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as pursuant to Section 3.26(a)(i), above, plus any amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining earned on any such funds while on deposit in the Reserve Fund will be released by Fund. "Portion 2" of the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part consist of the Trust but not part of any REMIC and any payments amounts deposited pursuant to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1Sections 3.26(a)(ii). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investmenta)(iii), and (ii) no later than the date a)(iv), above, plus any amounts earned on which any such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest while on deposit in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted InvestmentsFund. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments Amounts distributed from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.under Sections 4.01(d)(ii) and 3.26

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "“Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Deutsche Alt-A Securities Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012006-FF1." AR5, Mortgage Pass-Through Certificates”. On the Closing Date, the Depositor will deposit, deposit or cause to be deposited, deposited into the Reserve Fund an amount equal to $1,000. . (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Group I Senior Certificates or the Group I Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.1(a)(iii)(f), rather than distributing such amounts to the Class C I- CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Group I Senior Certificates and the Group I Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Group I Senior Certificates and the Group I Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d4.1(a)(iv). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C I-CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 IV to the Holders of the Class C I-CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine CertificatesCase f1u:l1l 4o-fcvth-0e8G17ro5u-pLGI SS-eSnNior DCoecrtuifmiceatnets1a-n1d FthileedG1ro0u/p10I/1M4 ezPzaangiene86Ceorfti3fi5c9ates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C I-CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Group I Senior Certificates or the Group I Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C I-CE Certificate, each Class C I-CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C I-CE Certificateholders. By accepting a Class C I-CE Certificate, each Class C I-CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At . (e) The Securities Administrator, as directed by the direction majority Holder of the Holders of a majority in Percentage Interest in the Class C CertificatesI-CE Certifictaes, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C I-CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, Securities Administrator without liability for interest or compensation. All income and gain earned upon such investment shall be deposited into the Trustee Reserve Fund. In no event shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroe).

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Xxxxx Fargo Bank Minnesota, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Deutsche Mortgage Securities, Inc. Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012004-FF11, Mortgage Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Agreement and deposited into the Reserve Fund for the benefit of the Group III Senior Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, or the Group III Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.3(iii)(3), rather than distributing such amounts to the Class C III-CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, and the Group III Mezzanine Certificates, and will distribute such amounts to the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, and the Group III Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d4.3(iii)(3). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, based on the instructions received by it from the Securities Administrator, into the Reserve Fund on behalf of the Class C III-CE Certificateholders, from amounts otherwise distributable to the Class C III-CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C III-CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 III to the Holders of the Class C III-CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Group III Senior Certificates and the Group III Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C III-CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, or the Group III Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C III-CE Certificate, each Class C III-CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C III-CE Certificateholders. By accepting a Class C III-CE Certificate, each Class C III-CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee . (e) The Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no All income and gain earned upon such investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to shall be deposited into the Reserve Fund is received by Fund. In no event shall the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vie). (f) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Holders of the Group III Senior Certificates, other than the Class A Certificateholders III-A-IO Certificates, and the Holders of the Group III Mezzanine Certificateholders Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee Trustee, on behalf of the Certificateholders, shall establish and maintain with itself a separate, segregated trust account titled, "“Reserve Fund, Wells Fargo Deutsche Bank Minnesota, N.A.National Trust Company, as XxxxteeTrustee, in trust for registered Holders of First Franklin Long Beach Mortgage Loan Trust 20012005-FF1WL1, Asset-Backed Certificates, Series 20012005-FF1WL1." ” The Trustee shall account for the right to receive payments from the Reserve Fund as property that the Trustee holds separate and apart from the REMIC Regular Interests. (a) The following amounts shall be deposited into the Reserve Fund: (i) On each Distribution Date, the Trustee shall deposit all amounts received with respect to the Cap Agreements; (ii) On the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund $1,000. ; (iii) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any of the Class A Group I/II Certificates or the Mezzanine Group III Certificates, the Trustee has been directed by the Holders of the Class I/II-C Certificateholders Certificates and the Class III-C Certificates to, and therefore willshall, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(g)(A)(ee) and Section 4.01(g)(B)(aa), rather than distributing such amounts to the Class C Certificateholders. respectively; and (iv) On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts Date as to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If which there are no Net WAC Rate Carryover Amounts are payable on a Distribution DateAmounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class I/II-C CertificateholdersCertificates, from amounts otherwise distributable to the such Class I/II-C CertificateholdersCertificates, an amount such that when added to other amounts already on deposit in the Reserve FundFund with respect to the Group I/II Mortgage Loans and the Group I/II Cap Agreement, the aggregate amount on deposit therein with respect to such amounts is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund 500. (other than the initial deposit therein of $1,000v) shall be treated as amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on On each Distribution Date as to which there is any are no Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable considerationAmounts, the receipt and sufficiency of which is acknowledged by such acceptance. At Trustee shall deposit into the direction Reserve Fund on behalf of the Holders of a majority in Percentage Interest in the Class III-C Certificates, from amounts otherwise distributable to such Class III-C Certificates, an amount such that when added to other amounts already on deposit in the Reserve Fund with respect to the Group III Mortgage Loans and the Group III Cap Agreement, the aggregate amount on deposit therein with respect to such amounts is equal to $500. (b) The Reserve Fund shall be segregated into two separate portions, for which the Trustee shall direct keep separate accounts. “Portion 1” of the Reserve Fund shall consist of amounts deposited pursuant to Section 3.26(a)(i), above, plus any depository institution maintaining amounts earned on any such funds while on deposit in the Reserve Fund. “Portion 2” of the Reserve Fund shall consist of amounts deposited pursuant to Sections 3.26(a)(ii), (a)(iii), (a)(iv) and (a)(v), above, plus any amounts earned on any such funds while on deposit in the Reserve Fund. Amounts distributed from the Reserve Fund under Sections 4.01(g)(C) and 3.26(c) shall be deemed to be distributed first from Portion 1 of the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, extent thereof and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn then from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroPortion 2.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as Xxxxtee, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012004-FF1HE4, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Group I Cap Contract and deposited into Reserve Fund for the benefit of the Class A-1 Certificates, Mezzanine Certificates and the Class B Certificates and under the Group II Cap Contract and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine CertificatesDate, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(vi), rather than distributing such amounts to the Class C CE Certificateholders, and Section 5.01(a)(7)(vii). On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates, Class B Certificates and will distribute such amounts to the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates Class B Certificates, in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) and any amounts paid to the Reserve Fund from the Cap Contracts shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders, the Mezzanine Certificateholders and the Mezzanine Class B Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero$58,000 with respect to Certificates covered by the Group I Cap Contract and $55,000 with respect to Certificates covered by the Group II Cap Contract.

Reserve Fund. No later than the Closing Date, the Trustee (a) The Securities Administrator shall establish a Reserve Fund on behalf of the Holders of the Class A, Class B and maintain with itself a separate, segregated trust account titled, "Class M Certificates. The Reserve Fund shall be an Eligible Account. The Reserve Fund shall be entitled “Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., N.A. as Xxxxtee, in trust Securities Administrator for registered the benefit of Holders of First Franklin Mortgage Loan Trust 2001-FF1Bear Xxxxxxx Asset Backed Securities I LLC, Asset-Backed Certificates, Series 20012006-FF1." ST1, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3, Class B-4 and Class C”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000an amount equal to the Reserve Fund Deposit. The Securities Administrator shall deposit in the Reserve Fund all payments received from the Counterparty pursuant to the Yield Maintenance Agreement. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificatesfollowing such deposit, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall remit amounts then on deposit into in the Reserve Fund the amounts described in Section 4.01(d)(vi), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates M, Class B and the Mezzanine Class C Certificates in the manner provided in clause (b) below. In addition, following such distribution of amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Datereceived under the Yield Maintenance Agreement pursuant to clause (b) below, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Basis Risk Shortfall Carry Forward Amount rather than distributing remaining unpaid to any Class of Certificates, the Securities Administrator shall deposit the amounts pursuant to clauses (C) and (D) of Section 5.04(a)(3) into the Reserve Fund, and the Securities Administrator has been directed by the Class C Certificateholder to distribute any amounts then on deposit in the Reserve Fund to the Holders of the Class A, Class M and Class B Certificates in respect of the Basis Risk Shortfall Carry Forward Amount for each such Class in the priorities set forth in clauses (C) and (D) of Section 5.04(a)(3). Any amount paid to the Holders of Class A, Class M or Class B Certificates from amounts distributable pursuant to clauses (C) and (D) of Section 5.04(a)(3) pursuant to the preceding sentence in respect of Basis Risk Shortfall Carry Forward Amounts shall be treated as distributed to the Class C Certificateholders. By accepting a Certificateholder in respect of the Class C Certificate, each Certificates and paid by the Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of to the Holders of the Class A, Class M or Class B Certificates. Any payments to the Holders of the Class A, Class M or Class B in respect of Basis Risk Shortfall Carry Forwards Amounts pursuant to the second preceding sentence shall not be payments with respect to a majority in Percentage Regular Interest in a REMIC within the meaning of Section 860G(a)(1) of the Code. (b) On each Distribution Date the Securities Administrator shall distribute amounts in the Reserve Fund after depositing amounts received from the Yield Maintenance Agreement (other than a Yield Maintenance Agreement Termination Payment) with respect to such Distribution Date to the following Classes of Certificates in the following order of priority; provided, however, that to the extent Xxxxxx Xxx or an affiliate thereof holds all or a portion of any of the Class M Certificates or Class B Certificates, no distribution will be made to the holder of any such Certificate or to the Class C Certificates, and to the Trustee extent Xxxxxx Mae or an affiliate thereof holds all or a portion of any of the Class C Certificates, no distribution will be made to the holder of such Certificate from amounts received under the Yield Maintenance Agreement and any such amounts withheld from such Certificates (the “Additional Amounts”) will be distributed to the Counterparty pursuant to clause (iii) below. (i) first, sequentially to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, in that order, to pay Current Interest to the extent not fully paid pursuant to Section 5.04(a)(1) and any Interest Carry Forward Amount, in each case to the extent due to the interest portion of a Realized Loss; (ii) second, sequentially to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, in that order, any Basis Risk Shortfall Carry Forward Amounts for such Distribution Date; (iii) third, any Additional Amounts, to the Counterparty; and (iv) fourth, any remaining amounts received under the Yield Maintenance Agreement, to the Class C Certificates. (c) In the event that the Yield Maintenance Agreement is terminated prior to the Distribution Date in August 2017, the Securities Administrator, at the direction of the Depositor, shall direct use reasonable efforts to appoint a successor counterparty using any depository institution maintaining Yield Maintenance Agreement Termination Payments paid by the Counterparty. If the Securities Administrator is unable to locate a qualified successor counterparty within thirty (30) days of the Early Termination Date (as defined in the Yield Maintenance Agreement), any Yield Maintenance Agreement Termination Payments paid by the Counterparty will be deposited into a reserve fund and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Yield Maintenance Agreement or the appointment of a successor counterparty), will withdraw from the amount then remaining on deposit in the reserve account an amount equal to the payment, if any, that would have been paid to the Securities Administrator by the original Counterparty calculated in accordance with the terms of the original Yield Maintenance Agreement, and deposit such amount into the Reserve Fund in accordance with Section 5.08(a) for distribution to invest the funds holders of the Certificates in such accordance with Section 5.08(b). Such reserve account shall be an Eligible Account. (d) The Reserve Fund is an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any REMIC. The Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. The Class C Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Securities Administrator to transfer amounts under Section 5.04(a)(3). Amounts in one the Reserve Fund shall be held either uninvested in a trust or more deposit account of the Securities Administrator with no liability for interest or other compensation thereof or, at the direction of the Class C Certificateholder, be invested in Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) that mature no later than the Business Day immediately preceding prior to the date on which such funds are required to be withdrawn next succeeding Distribution Date. All net income and gain from such account pursuant investments shall be distributed to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with Certificateholder, not as a distribution in respect to of any interest in any REMIC, on such Distribution Date. All amounts earned on amounts on deposit in the Reserve Fund is received shall be taxable to the Class C Certificateholder. Any losses on such investments shall be deposited in the Reserve Fund by the TrusteeClass C Certificateholder out of its own funds immediately as realized. In the event that the Class C Certificateholder shall fail to provide investment instructions to the Securities Administrator, the Trustee amounts on deposit in the Reserve Fund shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause be held uninvested. (vie) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Holders of the Class A Certificateholders A, Class M and the Mezzanine Certificateholders Class B Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount Basis Risk Shortfall Carry Forward Amounts shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank MinnesotaMinnesxxx, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Deutsche Mortgage Securities, Inc. Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012004-FF11, Mortgage Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Agreement and deposited into the Reserve Fund for the benefit of the Group III Senior Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, or the Group III Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.3(iii)(3), rather than distributing such amounts to the Class C III-CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, and the Group III Mezzanine Certificates, and will distribute such amounts to the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, and the Group III Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d4.3(iii)(3). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, based on the instructions received by it from the Securities Administrator, into the Reserve Fund on behalf of the Class C III-CE Certificateholders, from amounts otherwise distributable to the Class C III-CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C III-CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 III to the Holders of the Class C III-CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Group III Senior Certificates and the Group III Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C III-CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Group III Senior Certificates, other than the Class A Certificates III-A-IO Certificates, or the Group III Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C III-CE Certificate, each Class C III-CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C III-CE Certificateholders. By accepting a Class C III-CE Certificate, each Class C III-CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee . (e) The Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no All income and gain earned upon such investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to shall be deposited into the Reserve Fund is received by Fund. In no event shall the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vie). (f) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Holders of the Group III Senior Certificates, other than the Class A Certificateholders III-A-IO Certificates, and the Holders of the Group III Mezzanine Certificateholders Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as XxxxteeNaxxxxxl Association, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012003-FF1NC1, Asset Backed Pass-Thxxxxx Xxxxxxxxxtes." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Trustee under the Cap Contracts and deposited into Reserve Fund for the benefit of the Offered Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A A-1 Certificates or the Mezzanine Class A-2 Certificates, the Trustee has been directed by the Class C Certificateholders toSecurities Administrator shall deposit, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(xxi), rather than distributing such amounts to the Class C CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for registered Holders of First Franklin Option One Mortgage Loan Trust 20012000-FF14, Asset-Backed Certificates, Series 20012000-FF14." On the Closing Date, the Depositor will Dexxxxxxx xxxl deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(viii), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 3 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Wac Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee Trustee, on behalf of the Certificateholders, shall establish and maintain with itself a separate, segregated trust account titled, "“Reserve Fund, Wells Fargo Deutsche Bank Minnesota, N.A.National Trust Company, as XxxxteeTrustee, in trust for registered Holders of First Franklin Long Beach Mortgage Loan Trust 2001-FF12005‑WL1, Asset-Backed Asset‑Backed Certificates, Series 2001-FF12005‑WL1." ” The Trustee shall account for the right to receive payments from the Reserve Fund as property that the Trustee holds separate and apart from the REMIC Regular Interests. (a) The following amounts shall be deposited into the Reserve Fund: (i) On each Distribution Date, the Trustee shall deposit all amounts received with respect to the Cap Agreements; (ii) On the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund $1,000. ; (iii) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any of the Class A Group I/II Certificates or the Mezzanine Group III Certificates, the Trustee has been directed by the Holders of the Class C Certificateholders I/II‑C Certificates and the Class III‑C Certificates to, and therefore willshall, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(g)(A)(ee) and Section 4.01(g)(B)(aa), rather than distributing such amounts to the Class C Certificateholders. respectively; and (iv) On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts Date as to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If which there are no Net WAC Rate Carryover Amounts are payable on a Distribution DateAmounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class C CertificateholdersI/II‑C Certificates, from amounts otherwise distributable to the such Class C CertificateholdersI/II‑C Certificates, an amount such that when added to other amounts already on deposit in the Reserve FundFund with respect to the Group I/II Mortgage Loans and the Group I/II Cap Agreement, the aggregate amount on deposit therein with respect to such amounts is equal to $1,000500. (v) On each Distribution Date as to which there are no Net WAC Rate Carryover Amounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class III‑C Certificates, from amounts otherwise distributable to such Class III‑C Certificates, an amount such that when added to other amounts already on deposit in the Reserve Fund with respect to the Group III Mortgage Loans and the Group III Cap Agreement, the aggregate amount on deposit therein with respect to such amounts is equal to $500. (b) The Reserve Fund shall be segregated into two separate portions, for which the Trustee shall keep separate accounts. “Portion 1” of the Reserve Fund shall consist of amounts deposited pursuant to Section 3.26(a)(i), above, plus any amounts earned on any such funds while on deposit in the Reserve Fund. “Portion 2” of the Reserve Fund shall consist of amounts deposited pursuant to Sections 3.26(a)(ii), (a)(iii), (a)(iv) and (a)(v), above, plus any amounts earned on any such funds while on deposit in the Reserve Fund. Amounts distributed from the Reserve Fund under Sections 4.01(g)(C) and 3.26(c) shall be deemed to be distributed first from Portion 1 of the Reserve Fund to the extent thereof and then from Portion 2. (c) Each Portion of the Reserve Fund shall be treated as an “outside reserve fund” under applicable Treasury regulations and shall not be part of any REMIC created hereunder. For federal and state income tax purposes, the Trustee shall be deemed to be the owner of Portion 1 of the Reserve Fund and no amount shall be transferred by any REMIC to Portion 1 of the Reserve Fund. For federal and state income tax purposes, the Holders of the Class C Certificateholders will Certificates shall be deemed to be the owners of Portion 2 of the Reserve Fund and all amounts deposited into Portion 2 of the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 I/II‑2 to REMIC I/II‑CX or by REMIC III‑2 to REMIC III‑CX, as applicable, in respect of the Class C Interest, and then distributed by REMIC I/II‑CX to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A I/II‑C Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments III‑CX to the Holders of the Class III‑C Certificates. For federal and state income tax purposes, payments in respect of the Class A Certificates or Certificates, the Mezzanine Certificates and the Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860(G)(a)(1860G(a)(1). (d) By accepting a Class C Certificate, each Holder of a Class C Certificate shall be deemed to have directed the Trustee to, and the Trustee shall pursuant to such direction, deposit into the Reserve Fund the amounts described in Section 3.26(a)(iii), (a)(iv) and (a)(v) above on each Distribution Date. By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting Holder of a Class C Certificate, each Class C Certificateholder Certificate further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C I/II‑C Certificates, the Trustee shall direct any depository institution maintaining Portion 2 of the Reserve Fund to invest the funds in such account with respect to the Group I/II Mortgage Loans and at the direction of the Holders of a majority in Percentage Interest in the Class III‑C Certificates, the Trustee shall direct any depository institution maintaining Portion 2 of the Reserve Fund to invest the funds in such account with respect to the Group III Mortgage Loans in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C I/II‑C Certificates or the Class III‑C Certificates with respect to Portion 2 of the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account Portion 2 of the Reserve Fund in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. Notwithstanding the foregoing, any funds in Portion 2 of the Reserve Fund shall be invested in Deutsche Bank Cash Management Fund 541 for so long as such investment complies with clause (vi) of the definition of Permitted Investments. All income and gain earned upon such investment shall be deposited into Portion 2 of the Reserve Fund. The Trustee shall hold the funds in Portion 1 of the Reserve Fund uninvested in an Eligible Account. (f) For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments payment on account of the Class A Certificates, the Mezzanine Certificates and the Class B Certificates from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Deutsche Alt-A Securities, Inc. Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012005-FF11, Mortgage Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Contract and deposited into the Reserve Fund for the benefit of the Class I-A-1, Class I-A-3 and Class I-A-4 Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine I-A-1, Class I-A-3 and Class I-A-4 Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.1(a)(v) and (b)(iv), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates I-A-1, Class I-A-3 and the Mezzanine Class I-A-4 Certificates, and will distribute such amounts to the Holders of the Class A I-A-1, Class I-A-3 and Class I-A-4 Certificates and the Mezzanine Certificates in the amounts and priorities as set forth in Section 4.01(d4.1(a)(v) and (b)(iv). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, based on the instructions received by it from the Securities Administrator, into the Reserve Fund on behalf of the Class C CertificateholdersI-A-1, from amounts otherwise distributable to the Class C Certificateholders, I-A-3 and Class I-A-4 Certificateholders an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C Certificateholders Seller will be deemed to be the owners owner of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 to the Holders of the Class C CertificatesFund. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C Certificateholders Seller or their its designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates I-A-1, Class I-A-3 or the Mezzanine Class I-A-4 Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder . (d) The Seller hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CertificateholdersDate. By accepting a Class C Certificate, each Class C Certificateholder The Seller further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee . (e) The Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Eligible Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no All income and gain earned upon such investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to shall be deposited into the Reserve Fund is received by Fund. In no event shall the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vie). (f) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Holders of the Class A Certificateholders I-A-1, Class I-A-3 and the Mezzanine Certificateholders Class I-A-4 Certificates to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero$4,310,000.

Reserve Fund. No later than the Closing Date, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for registered Holders of First Franklin Option One Mortgage Loan Trust 2001-FF11, Asset-Backed Certificates, Series 2001-FF11." On the Closing Date, the Depositor will Dexxxxxxx xxxl deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(viii), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 3 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.such

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "“Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012006-FF1ASAP6, Asset Backed Pass-Through Certificates." ” On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Group IA Cap Contract and deposited into the Reserve Fund for the benefit of the Class A A-1A Certificates or and the Mezzanine Certificates, under the Trustee has been directed by Group IB Cap Contract and deposited into the Reserve Fund for the benefit of the Class C Certificateholders toA-1B Certificates and the Mezzanine Certificates and under the Group II Cap Contract and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates and the Mezzanine Certificates. (b) On each Distribution Date, and therefore will, the Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(c)(8)(vi), rather than distributing such amounts to the Class C CertificateholdersCE Certificateholders pursuant to Section 5.01(c)(8)(viii). On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, Certificates and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates Certificates, in the amounts and priorities set forth in Section 4.01(d5.01(c). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. (c) The Reserve Fund constitutes an “outside reserve fund” within the meaning of Treasury Regulation § 1.860G-2(h) and is not an asset of any REMIC. For It is the intention of the parties hereto that, for federal and state income and state and local franchise tax purposes, the Reserve Fund be disregarded as an entity separate from the Holder of the Class C Certificateholders will be deemed CE Certificates unless and until the date when either (a) there is more than one Class CE Certificateholder or (b) any Class of Certificates in addition to be the owners of Class CE Certificates is recharacterized as an equity interest in the Reserve Fund for federal income tax purposes, in which case it is the intention of the parties hereto that, for federal and all state income and state and local franchise tax purposes, the Reserve Fund be treated as a partnership. The Master Servicer shall not be required to prepare and file partnership tax returns in respect of such partnership unless it receives additional reasonable compensation (not to exceed $10,000 per year) for the preparation of such filings, written notification recognizing the creation of a partnership agreement or comparable documentation evidencing the partnership. All amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,0001,000 and any amounts paid to the Reserve Fund from the Cap Contracts) shall be treated as amounts distributed by REMIC 2 III to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution Depository Institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund and the Supplemental Interest Trust in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero$1000. (g) In the event that a Cap Contract is terminated prior to the Distribution Date in May 2007, the Securities Administrator, at the direction of the Depositor, shall use reasonable efforts to appoint a successor cap counterparty using any cap agreement termination payments paid by the Cap Counterparty. If the Securities Administrator is unable to locate a qualified successor cap counterparty within thirty (30) days of the Early Termination Date (as defined in the Cap Contract), any cap agreement termination payments paid by the Cap Counterparty will be deposited into a separate non-interest bearing Eligible Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the Cap Contract or the appointment of a successor cap counterparty), will withdraw from the amount then remaining on deposit in such reserve account an amount equal to the payment, if any, that would have been paid to the Securities Administrator by the original Cap Counterparty calculated in accordance with the terms of the original Cap Contract, and distribute such amount to the holders of the Certificates in accordance with Section 5.01. (h) In the event that the Cap Counterparty fails to perform any of its obligations under a Cap Contract (including, without limitation, its obligation to make any payment or transfer collateral), or breaches any of its representations and warranties thereunder, or in the event that an Event of Default, Termination Event, or Additional Termination Event (each as defined in the Cap Contract) occurs with respect to the related Cap Contract, the Securities Administrator shall immediately, but no later than the next Business Day following such failure or breach, notify the Depositor and send any notices and make any demands, on behalf of the Holders of the Offered Certificates, in accordance with the Cap Contract. (i) In the event that the Cap Counterparty’s obligations are guaranteed by a third party under a guaranty relating to a Cap Contract (such guaranty the “Guaranty” and such third party the “Guarantor”), then to the extent that the Cap Counterparty fails to make any payment by the close of business on the day it is required to make payment under the terms of the Cap Contract, the Securities Administrator shall, as soon as practicable, but no later than two (2) business days after the Swap Provider’s failure to pay, demand that the Guarantor make any and all payments then required to be made by the Guarantor pursuant to such Guaranty; provided, that the Securities Administrator shall in no event be liable for any failure or delay in the performance by the Cap Counterparty or any Guarantor of its obligations hereunder or pursuant to the Cap Contract and the Guaranty, nor for any special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits) in connection therewith.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as XxxxteeNatxxxxx Association, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012003-FF1HS1, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. . (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders toSecurities Administrator shall deposit, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(xvii), rather than distributing such amounts to the Class C CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "“Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin PHH Alternative Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012007-FF1." 1, Mortgage Pass-Through Certificates”. On the Closing Date, the Depositor will deposit, deposit or cause to be deposited, deposited into the Reserve Fund an amount equal to $1,000. . (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Group I Senior Certificates or the Group I Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.1(a)(iii)(f), rather than distributing such amounts to the Class C I-CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Group I Senior Certificates and the Group I Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Group I Senior Certificates and the Group I Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d4.1(a)(iv). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C I-CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 III to the Holders of the Class C I-CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Group I Senior Certificates and the Group I Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C I-CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Group I Senior Certificates or the Group I Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C I-CE Certificate, each Class C I-CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C I-CE Certificateholders. By accepting a Class C I-CE Certificate, each Class C I-CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At . (e) The Securities Administrator, as directed by the direction majority Holder of the Holders of a majority in Percentage Interest in the Class C I-CE Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C I-CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, Securities Administrator without liability for interest or compensation. All income and gain earned upon such investment shall be deposited into the Trustee Reserve Fund. In no event shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroe).

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Xxxxx Fargo Bank Minnesota, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Deutsche Alt-A Securities, Inc. Mortgage Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012003-FF12XS, Mortgage Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. . (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Class M Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator will deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.1(a)(iii)(E), rather than distributing such amounts to the Class C CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates Certificates, other than the Class A-IO Certificates, and the Mezzanine Class M Certificates, and will distribute such amounts to the Holders of the Class A Certificates Certificates, other than the Class A-IO Certificates, and the Mezzanine Class M Certificates in the amounts and priorities set forth in Section 4.01(d4.1(a)(iii). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, based on the instructions received by it from the Securities Administrator, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 III to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Class M Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Class M Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee . (e) The Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. If no All income and gain earned upon such investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to shall be deposited into the Reserve Fund is received by Fund. In no event shall the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in Securities Administrator be liable for any investments made pursuant to this clause (vie). (f) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Class M Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as Xxxxteeax Xxxstee, in trust for registered Holders of First Franklin Option One Mortgage Loan Trust 2001-FF13, Asset-Backed Certificates, Series 2001-FF13." On the Closing Date, the Depositor will Dxxxxxxxx xxll deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(viii), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 3 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Wac Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as Xxxxtee, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012004-FF1HE1, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Contract relating to the Group I Mortgage Loans and deposited into Reserve Fund for the benefit of the Class A-1 Certificates, Class A-3 Certificates, Mezzanine Certificates and the Class B Certificates and under the Cap Contract relating to the Group II Mortgage Loans and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine CertificatesDate, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(xxiv), rather than distributing such amounts to the Class C CE Certificateholders, and Section 5.01(a)(7)(xxv). On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates, Class B Certificates and will distribute such amounts to the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates Class B Certificates, in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders, the Mezzanine Certificateholders and the Mezzanine Class B Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. No later than the Closing Date, the Trustee Trustee, on behalf of the Certificateholders, shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Deutsche Bank Minnesota, N.A.National Trust Company, as XxxxteeTrustee, in trust for registered Holders of First Franklin Long Beach Mortgage Loan Trust 20012003-FF13, Asset-Backed Certificates, Series 20012003-FF13." The Trustee shall account for the right to receive payments from the Reserve Fund as property that the Trustee holds separate and apart from the REMIC Regular Interests. (a) The following amounts shall be deposited into the Reserve Fund: (i) On each Distribution Date, the Trustee shall deposit all amounts received with respect to the Cap Agreement; (ii) On the Closing Date, the Depositor will shall deposit, or cause to be deposited, into the Reserve Fund $1,000. ; (iii) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any of the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Holders of the Class C Certificateholders Certificates to, and therefore willshall, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi4.01(d)(i)(k), rather than distributing such amounts to the Class C Certificateholders. ; and (iv) On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts Date as to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d). If which there are no Net WAC Rate Carryover Amounts are payable on a Distribution DateAmounts, the Trustee shall deposit into the Reserve Fund on behalf of the Holders of the Class C CertificateholdersCertificates, from amounts otherwise distributable to the such Class C CertificateholdersCertificates, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. (b) The Reserve Fund shall be segregated into two separate portions, for which the Trustee shall keep separate accounts. For federal and state income tax purposes, the Class C Certificateholders will be deemed to be the owners "Portion 1" of the Reserve Fund and all will consist of amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as pursuant to Section 3.26(a)(i), above, plus any amounts distributed by REMIC 2 to the Holders of the Class C Certificates. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining earned on any such funds while on deposit in the Reserve Fund will be released by Fund. "Portion 2" of the Trust and distributed to the Class C Certificateholders or their designees. The Reserve Fund will be part consist of the Trust but not part of any REMIC and any payments amounts deposited pursuant to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1Sections 3.26(a)(ii). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee(a)(iii), and (a)(iv), above, plus any amounts earned on any such funds while on deposit in the Trustee hereby is directed, to deposit into Reserve Fund. Amounts distributed from the Reserve Fund the amounts described above on each Distribution Date as under Sections 4.01(d)(ii) and 3.26(c) shall be deemed to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency be distributed first from Portion 1 of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, extent thereof and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn then from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroPortion 2.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as XxxxteeNaxxxxxl Association, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012003-FF1OP1, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Contract relating to Group I and deposited into Reserve Fund for the benefit of the Class A-1 Certificates, Class A-3 Certificates, Mezzanine Certificates and Class B Certificates and under the Cap Contract relating to Group II and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, Mezzanine Certificates and Class B Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(xxv), rather than distributing such amounts to the Class C CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, and will distribute such amounts to the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders, the Mezzanine Certificateholders and the Mezzanine Class B Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Fargo Bank MinnesotaBank, N.A., as Xxxxtee, in trust for truxx xxr the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012004-FF1RM1, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Contract relating to the Group I Mortgage Loans and deposited into Reserve Fund for the benefit of the Class A-1 Certificates, Mezzanine Certificates and the Class B Certificates and under the Cap Contract relating to the Group II Mortgage Loans and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine CertificatesDate, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(ix), rather than distributing such amounts to the Class C CE Certificateholders, and Section 5.01(a)(7)(x). On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates, Class B Certificates and will distribute such amounts to the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates Class B Certificates, in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders, the Mezzanine Certificateholders and the Mezzanine Class B Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero$255,000.00 with respect to Certificates covered by the Group I Cap Contract and $60,000.00 with respect to Certificates covered by the Group II Cap Contract.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "“Reserve Fund, Wells Xxxxx Fargo Bank MinnesotaBank, N.A., as Xxxxtee, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012005-FF1HE2, Asset Backed Pass-Through Certificates." ” On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Group I Cap Contract and deposited into the Reserve Fund for the benefit of the Class A-1 Certificates, Mezzanine Certificates and the Class B Certificates and under the Group II Cap Contract and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine CertificatesDate, the Trustee has been directed by the Class C Certificateholders to, and therefore will, Securities Administrator shall deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(vi), rather than distributing such amounts to the Class C CE Certificateholders, and Section 5.01(a)(7)(vii). On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates, Class B Certificates and will distribute such amounts to the Holders of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Certificates Class B Certificates, in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit deposit, into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) and any amounts paid to the Reserve Fund from the Cap Contracts shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates, the Mezzanine Certificates or the Mezzanine Class B Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "“regular interest" ” in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders, the Mezzanine Certificateholders and the Mezzanine Class B Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero$95,000 with respect to Certificates covered by the Group I Cap Contract and $72,000 with respect to Certificates covered by the Group II Cap Contract.

Reserve Fund. No later than the Closing Date(a) The Indenture Trustee, the Trustee shall establish and maintain with itself a separate, segregated trust account titled, "Reserve Fund, Wells Fargo Bank Minnesota, N.A., as Xxxxtee, in trust for registered Holders of First Franklin Mortgage Loan Trust 2001-FF1, Asset-Backed Certificates, Series 2001-FF1." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders to, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi), rather than distributing such amounts to the Class C Certificateholders. On each such Distribution Date, the Trustee shall hold all such amounts for the benefit of the Holders Series 2006-3 Noteholders, will establish and maintain with the Indenture Trustee or its nominee in the name of the Class A Certificates Indenture Trustee, on behalf of the Issuer, a Qualified Account (including any subaccounts thereof) bearing a designation clearly indicating that the funds and other property credited thereto are held for the benefit of the Series 2006-3 Noteholders (the "RESERVE FUND"). The Reserve Fund will consist of two segregated subaccounts: (i) the "RESERVE FUND SECURITIES SUBACCOUNT" to which financial assets (other than cash and money) credited to the Reserve Fund will be credited and (ii) the "RESERVE FUND CASH DEPOSIT SUBACCOUNT" to which cash and money deposited in the Reserve Fund will be credited. The Indenture Trustee will possess all right, title and interest in all Eligible Investments and all monies, cash, instruments, securities, securities entitlements, documents, certificates of deposit and other property from time to time on deposit in or credited to the Reserve Fund and in all interest, proceeds, earnings, income, revenue, dividends and other distributions thereof (including any accrued discount realized on liquidation of any investment purchased at a discount) for the benefit of the Series 2006-3 Noteholders. Except as expressly provided in this Indenture Supplement and the Mezzanine CertificatesTransfer and Servicing Agreements, the Servicer agrees that it has no right of setoff or banker's lien against, and no right to otherwise deduct from, any funds and other property held in the Reserve Fund for any amount owed to it by the Indenture Trustee, the Issuer, any Noteholder or any Series Enhancer. If, at any time, (x) the Reserve Fund ceases to be a Qualified Account or (y) the Indenture Trustee no longer maintains the Reserve Fund, then within ten Business Days (or such longer period as to which each Rating Agency may consent), the Indenture Trustee (or the Servicer on its behalf) will distribute establish a new Reserve Fund meeting the conditions specified above, transfer any monies, instruments, securities, security entitlements, documents, certificates of deposit and other property to such amounts new Reserve Fund and from the date such new Reserve Fund is established, it will be the "Reserve Fund." Any Eligible Institution at which the successor Reserve Fund is established will deliver a written acceptance of its appointment and will agree to be bound by the provisions in the Indenture relating to the Holders Securities Intermediary and the Bank as they relate to the Reserve Fund. The Indenture Trustee, at the written direction of the Class A Certificates Servicer, will make deposits to and withdrawals from the Mezzanine Certificates Reserve Fund from time to time, in the amounts and priorities for the purposes set forth in Section 4.01(d). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee shall deposit into the Reserve Fund on behalf of the Class C Certificateholders, from amounts otherwise distributable to the Class C Certificateholders, an amount such that when added to other amounts already this Indenture Supplement. (b) Funds on deposit in the Reserve FundFund will, at the aggregate amount on deposit therein is equal to $1,000written direction of the Servicer, be invested by the Indenture Trustee or its nominee (including the Securities Intermediary) in Eligible Investments selected by the Servicer. For federal and state income tax purposes, the Class C Certificateholders All such Eligible Investments will be deemed held by the Indenture Trustee or its nominee for the benefit of the Series 2006-3 Noteholders. The Indenture Trustee will cause each Eligible Investment to be the owners of delivered to it or its nominee (including a securities intermediary) and will be credited to the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 to the Holders of the Class C CertificatesSecurities Subaccount. Upon the termination of the Trust, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining Funds on deposit in the Reserve Fund will be released invested in Eligible Investments that will mature so that such funds will be available no later than the following Distribution Date. On each Distribution Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Reserve Fund will be treated as Available Investor Interest Collections for such Distribution Date. The Indenture Trustee will bear no responsibility or liability for any losses resulting from investment or reinvestment of any funds in accordance with this Section 4.11(b) nor for the selection of Eligible Investments in accordance with the provisions of this Indenture Supplement, the Indenture or the Transfer and Servicing Agreements. (c) The Reserve Fund will be funded by the Trust Transferors on the Closing Date in the amount of the Reserve Fund Initial Amount, and distributed will be increased and decreased thereafter as described herein. (d) If on any Distribution Date, after giving effect to all withdrawals from and deposits to the Class C Certificateholders or their designeesReserve Fund, the amount on deposit in the Reserve Fund (excluding amounts relating to investment earnings) exceeds the Reserve Fund Required Amount then in effect, the Indenture Trustee will, at the written direction of the Servicer, distribute such excess to the Owner Trustee for distribution to the holders of the Transferor Interest in accordance with the Trust Agreement. (e) Upon the earlier to occur of the date on which the Series 2006-3 Notes are paid in full and the Series Final Maturity Date, any funds remaining in the Reserve Fund, after giving effect to any deposits and withdrawals made therefrom on such date, will be treated as Available Investor Principal Collections. The Reserve Fund will thereafter be part deemed to have terminated for purposes of the Trust but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class C Certificate, each Class C Certificateholder hereby agrees to direct the Trustee, and the Trustee hereby is directed, to deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C Certificateholders. By accepting a Class C Certificate, each Class C Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. At the direction of the Holders of a majority in Percentage Interest in the Class C Certificates, the Trustee shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee or an Affiliate manages or advises such investment. If no investment direction of the Holders of a majority in Percentage Interest in the Class C Certificates with respect to the Reserve Fund is received by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee or an Affiliate of the kind described in clause (vi) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zeroIndenture Supplement.

Reserve Fund. (a) No later than the Closing Date, the Trustee Securities Administrator shall establish and maintain with itself a separate, segregated trust account titledentitled, "Reserve Fund, Wells Xxxxx Fargo Bank Minnesota, N.A., as XxxxteeNational Association, in trust for the registered Holders holders of First Franklin Mortgage ACE Securities Corp. Home Equity Loan Trust 2001-FF1, Asset-Backed CertificatesTrust, Series 20012003-FF1HE1, Asset Backed Pass-Through Certificates." On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Reserve Fund $1,000. In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Cap Contracts and deposited into Reserve Fund for the benefit of the Offered Certificates. (b) On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates or the Mezzanine Certificates, the Trustee has been directed by the Class C Certificateholders toSecurities Administrator shall deposit, and therefore will, deposit into the Reserve Fund the amounts described in Section 4.01(d)(vi5.01(a)(7)(xxi), rather than distributing such amounts to the Class C CE Certificateholders. On each such Distribution Date, the Trustee Securities Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(d5.01(a). If no Net WAC Rate Carryover Amounts are payable on a Distribution Date, the Trustee Securities Administrator shall deposit into the Reserve Fund on behalf of the Class C CE Certificateholders, from amounts otherwise distributable to the Class C CE Certificateholders, an amount such that when added to other amounts already on deposit in the Reserve Fund, the aggregate amount on deposit therein is equal to $1,000. . (c) For federal and state income tax purposes, the Class C CE Certificateholders will be deemed to be the owners of the Reserve Fund and all amounts deposited into the Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 2 II to the Holders of the Class C CE Certificates. Upon the termination of the TrustTrust Fund, or the payment in full of the Class A Certificates and the Mezzanine Certificates, all amounts remaining on deposit in the Reserve Fund will be released by the Trust Fund and distributed to the Class C CE Certificateholders or their designees. The Reserve Fund will be part of the Trust Fund but not part of any REMIC and any payments to the Holders of the Class A Certificates or the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a "regular interest" in a REMIC within the meaning of Code Section 860(G)(a)(1). . (d) By accepting a Class C CE Certificate, each Class C CE Certificateholder hereby agrees to direct that the Trustee, and the Trustee hereby is directed, to Securities Administrator will deposit into the Reserve Fund the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class C CE Certificateholders. By accepting a Class C CE Certificate, each Class C CE Certificateholder further agrees that its agreement to such direction action by the Securities Administrator is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. . (e) At the direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates, the Trustee Securities Administrator shall direct any depository institution maintaining the Reserve Fund to invest the funds in such account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee Securities Administrator or an Affiliate manages or advises such investment, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee Securities Administrator or an Affiliate manages or advises such investment. All income and gain earned upon such investment shall be deposited into the Reserve Fund. In no event shall the Securities Administrator be liable for any investments made pursuant to this clause (e). If no investment direction of the Holders of a majority in Percentage Interest in the Class C CE Certificates with respect fail to provide investment instructions, funds on deposit in the Reserve Fund is received shall be held uninvested by the Trustee, the Trustee shall invest the funds in such account in Permitted Investments managed by the Trustee Securities Administrator without liability for interest or an Affiliate of the kind described in clause compensation. (vif) of the definition of Permitted Investments. For federal tax return and information reporting, the right of the Class A Certificateholders and the Mezzanine Certificateholders to receive payments from the Reserve Fund in respect of any Net WAC Rate Carryover Amount shall be assigned a value of zero.