Common use of Reserve Fund Clause in Contracts

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5, Mortgage Pass-Through Certificates, Series 2007-AR5." The Trustee shall demand payment of all money payable by each Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 2007-AR5 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5AR4, Mortgage Pass-Through Certificates, Series 2007-AR5AR4." The Trustee shall demand payment of all money payable by each Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 2007-AR5 AR4 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 AR4 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered Certificates and the I Offered, Class I-B-3, Class B-IO, Class II-BB-1, Class II-IO B-2, Class II-X-B1 and Class II-X-B2 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, U.S. Bank National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding ALT-A Trust 20072006-AR53, Mortgage Pass-Through Certificates, Series 20072006-AR53." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a) and 6.02(i)(a), all payments from Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and clause (J) of Section 6.02(i)(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II I Offered Certificates and Class I-B-3 Certificateholders and the Excess Cashflow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II I Offered and Class I-B-3 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. All Cap Contract Payment Amounts received from Cap Contracts benefiting the Class II-B-1 and Class II-B-2 Certificateholders and the amounts described in Section 6.02(i)(a)(J) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Class II-B-1 and Class II-B-2 Certificateholders, as applicable, and the Class II-BX-IO B Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to (i) the Group II Certificateholders I Offered, Class I-B-3, and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(a) and Section 6.01(b) and Section 6.01(c(ii) the Class II-B-1, Class II-B-2, Class II-X-B1 and Class II-X-B2 Certificateholders in accordance with Sections 6.02(i)(a)(J) and 6.02(i)(f). (b) 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 20072006-AR5 3 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class B-IO, Class II-BX-IO B1 and Class II-X-B2 Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(a), Section 6.01(b), Section 6.02(a)(J) and and Section 6.01(c6.02(i)(f) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) will be treated as first distributed to the Class B-IO Certificateholders and then paid from the Class B-IO Certificateholders to the applicable Group I Offered or Class I-B-3 Certificateholders and (ii) amounts distributed to Certificateholders pursuant to Section 6.01(c6.02(i)(a)(J) will be treated as first distributed to the Class II-BX-IO Certificateholders B1 or Class II-X-B2 Certificateholders, as applicable, and then paid from such Class II-X-B1 or Class II-X-B2 Certificateholders to the Class II-BB-1 or Class II-IO Certificateholders to such HoldersB-2 Certificateholders, as applicable. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Amounts in the Reserve Fund held in trust for the benefit of the Class II-B-1 or Class II-B-2 Certificateholders, as applicable, and the Class II-X-B1 or Class II-X-B2 Certificateholders, as applicable, shall, at the written direction of the Class II-X-B1 or Class II-X-B2 Certificateholders, as applicable, or invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable, to the Securities Administrator out of such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class B-IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class B-IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable, not as a distribution in respect of any interest in any 20072006-AR5 3 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders Group I Offered, Class I-B-3 and Class B-IO Certificateholders shall be taxable to the Class B-IO Certificateholders. All amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Offered Certificates Class II-B-1 or Class II-B-2 Certificateholders, as applicable, and the Class II-BX-IO Certificates B1 or Class II-X-B2 Certificateholders, as applicable, shall be taxable to the Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "a Reserve Fund") Fund on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Fargo Bank, National Association JPMorgan Chase Bank as Trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007ALT-AR5A Trust, Mortgage Pass-Through Certificates, Series 20072003-AR5." 2, Class A, Class M-1, Class M-2 and Class M-3”. The Trustee shall demand payment of all money payable by each Corridor Counterparty Bear Xxxxxxx Financial Products Inc. (the “Counterparty”) under each Corridor Contractthe Cap Contracts. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(b6.01(a), all payments from Excess Cashflow described under the Tenth and Eleventh clauses seventh clause of Section 6.01(b6.01(a). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute remit amounts on deposit received by it from the Counterparty to the Holders of the Offered Certificates in the Reserve Fund held manner provided in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) The Reserve Fund is an "“outside reserve fund" ” within the meaning of Treasury Regulation Section 1.860G-2(h¨1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any 2007-AR5 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the The Class II-B-IO Certificateholders Certificateholder shall be the beneficial owners owner of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and the seventh clause of Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom6.01(a). For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses seventh clause of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders Certificates and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable holders of the Offered Certificates. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO CertificateholdersCertificateholder, be held either uninvested in a trust or deposit account of the Trustee with no liability for interest or other compensation thereon or invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the The Trustee shall distribute all net income and gain from such Permitted Investments investments in the Reserve Fund to the Class II-B-IO CertificateholdersCertificateholder, not as a distribution in respect of any interest in any 2007-AR5 REMIC, on each Distribution Date. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO CertificateholdersCertificateholder. Any losses on such investments shall be deposited in the Reserve Fund by the Class B-IO Certificateholder out of its own funds immediately as realized.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "a Reserve Fund") Fund on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO A-4 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankDeutsche Bank Trust Company Americas, National Association as Trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Residential Accredit Loans, Inc., Bear Xxxxxxx Mortgage Funding Trust 2007Asset-AR5, Mortgage Backed Pass-Through Certificates, Series 20072006-AR5." QS8". The Trustee shall demand payment of all money payable by each Corridor Counterparty the Yield Maintenance Agreement Provider under each Corridor Contractthe Yield Maintenance Agreement. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts payments received by it from the Yield Maintenance Agreement Provider pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Yield Maintenance Agreement. On each Distribution Date, the Trustee shall distribute remit the Yield Maintenance Payment, if any, from amounts on deposit received by it from the Yield Maintenance Agreement Provider to the Holders of the Class A-4 Certificates, in the Reserve Fund held manner provided in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b4.02(f) and Section 6.01(c).shall remit the Yield Maintenance Agreement Excess Amount, if any, to Citigroup Global Markets Realty Corp., an affiliate of Citigroup Global Markets Inc., as it is directed by the Master Servicer. The Trustee shall invest any cash collateral received pursuant to the Yield Maintenance Agreement as directed by the Master Servicer in consultation with Citibank, N.A.. (b) The Reserve Fund is an "outside reserve fund" within the meaning of Treasury Regulation Section 1.860G-2(hRegulationss.1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any 20072006-AR5 QS8 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders Citigroup Global Markets Inc. shall be the beneficial owners owner of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders4.02(f). Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shallFund, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later other than the Business Day prior cash collateral received pursuant to the next succeeding Distribution Date. If no written direction is receivedYield Maintenance Agreement, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out held uninvested in a trust account of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any no liability for interest in any 2007-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholdersor other compensation thereon.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5AR3, Mortgage Pass-Through Certificates, Series 2007-AR5AR3." The Trustee shall demand payment of all money payable by each Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow Cash Flow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow Cash Flow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 2007-AR5 AR3 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 AR3 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "“Reserve Fund"”) in the name of the Trustee on behalf of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Fargo BankCitibank, National Association N.A. as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Stearns ALT-A Trust 20072006-AR56, Mortgage Pass-Through Certificates, Series 20072006-AR56." ” The Trustee Securxxxxx Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a) and 6.02(i)(a), all payments from Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and clause (J) of Section 6.02(i)(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II I Offered Certificates and the Excess Cashflow Class I-B-3 Certificates and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Holders of the Group II Certificateholders I Offered Certificates and the Class III-B-3 Certificates, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders I Offered, Class I-B-3, and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b). (b) 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 20072006-AR5 6 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable Group I Offered or Class I-B-3 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee Securities Administrator out of the Class II-B-IO such Certificateholders' ’ own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class II-B-B- IO Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 6 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "a Reserve Fund") Fund on behalf of the Holders of the Group II Offered Certificates Class A-1, Class A-9 and the Class II-B-IO A-10 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association Deutsche Bank Trust Company Americas as Trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Residential Accredit Loans, Inc., Bear Xxxxxxx Mortgage Funding Trust 2007Asset-AR5, Mortgage Backed Pass-Through Certificates, Series 20072005-AR5." QS16". The Trustee shall demand payment of all money payable by each Corridor Counterparty the Yield Maintenance Agreement Provider under each Corridor Contractthe Yield Maintenance Agreement. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts payments received by it from the Yield Maintenance Agreement Provider pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Yield Maintenance Agreement. On each Distribution Date, the Trustee shall distribute remit the Yield Maintenance Payment, if any, from amounts on deposit received by it from the Yield Maintenance Agreement Provider to the Holders of the Class A-1, Class A-9 and Class A-10 Certificates in the Reserve Fund held manner provided in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b4.02(f) and Section 6.01(c).shall remit the Yield Maintenance Agreement Excess Amount to Citigroup Global Markets Realty Corp., an affiliate of Citigroup Global Markets Inc., as it is directed by the Master Servicer. The Trustee shall invest any cash collateral received pursuant to the Yield Maintenance Agreement as directed by the Master Servicer in consultation with Citibank, N.A. (b) The Reserve Fund is an "outside reserve fund" within the meaning of Treasury Regulation Section 1.860G-2(hss.1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any 20072005-AR5 QS16 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders Citigroup Global Markets Inc. shall be the beneficial owners owner of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders4.02(f). Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out held uninvested in a trust account of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any no liability for interest in any 2007-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.or other compensation thereon

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 20072006-AR5, Mortgage Pass-Through Certificates, Series 20072006-AR5." The Trustee shall demand payment of all money payable by each Corridor Cap Counterparty under each Corridor Cap Contract. The Trustee shall deposit in the Reserve Fund all Corridor Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow Cash Flow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow Cash Flow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 20072006-AR5 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' ’ own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5, Mortgage Pass-Through Certificates, Series 2007-AR5." The Trustee shall demand payment of all money payable by each Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in into the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this AgreementDeposit. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit Required Reserve Fund Deposit. On any Distribution Date, the Trustee shall withdraw from the Reserve Fund and distribute to the Holders of the Group Class A-II Certificateholders Certificates an amount equal to the lesser of (i) any Basis Risk Shortfall Carry-Forward Amount for such Distribution Date and (ii) the excess of (x) the amount in the Reserve Fund (including amounts deposited in the Reserve Fund on such Distribution Date) over (y) $10,000. Following the payments described in the preceding sentence, any amounts remaining in the Reserve Fund in excess of the Required Reserve Fund Deposit shall be distributed to the Class IISB-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c)II Certificates. (b) The Reserve Fund is shall be an Eligible Account. Amounts held in the Reserve Fund from time to time shall continue to constitute assets of the Trust Fund, but not of the REMICs, until released from the Reserve Fund pursuant to this Section 4.10. The Reserve Fund constitutes an "outside reserve fund" within the meaning of Treasury Regulation Section 1.860G-2(hss.1.860G-2(h) and shall be is not an asset of the Trust Fund but not an asset of any 2007-AR5 REMICREMICs. The Trustee on behalf Holders of the Trust Class SB-II Certificates are the owners of the Reserve Fund and, for all federal tax purposes, amounts transferred by the REMICs to the Reserve Fund are treated as amounts distributed by the REMICs to the Holders of the Class SB-II Certificates and then transferred by the Holder of the Class SB-II Certificate to the Reserve Fund. (c) The Trustee shall be keep records that accurately reflect the nominal owner of funds on deposit in the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders The Trustee shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in invest the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, Permitted Investments at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be Holder of at least a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out 50.01% Percentage Interest of the Class IISB-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve FundII Certificates. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on On each Distribution Date Date, the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the holder of the Class IISB-B-IO Certificateholders, not as a distribution in respect of II Certificates any interest in any 2007-AR5 REMIC. All monies earned investment earnings on amounts on deposit in the Reserve Fund held in trust for Fund. Upon the benefit termination of the Holders Trust Fund pursuant to Section 9.01 of this Agreement, any amounts remaining in the Reserve Fund shall be distributed to the holder of the Group Class SB-II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO CertificateholdersCertificates.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered I Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankCitibank, National Association N.A. as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding ALT-A Trust 20072006-AR57, Mortgage Pass-Through Certificates, Series 20072006-AR57." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(b6.01(a), all payments from Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered I Certificates and the Excess Cashflow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Holders of the Group II Certificateholders I Certificates and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders I and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b). (b) 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 20072006-AR5 7 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II I Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable Group I Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee Securities Administrator out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 7 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates Class A-2, the Class A-3 and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Structured Asset Mortgage Funding Investments II Trust 2007-AR5AR4, Mortgage Pass-Through Certificates, Series 2007-AR5AR4." The Trustee shall demand payment of all money payable by each the Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b6.01(a), all payments from Excess Cashflow described under the Tenth Thirteenth and Eleventh Fourteenth clauses of Section 6.01(b6.01(a). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Class A-2 Certificates and the Class A-3 Certificates and the Excess Cashflow amounts described in the Tenth Thirteenth and Eleventh Fourteenth clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II applicable Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth Thirteenth and Eleventh Fourteenth clauses of Section 6.01(b6.01(a) and Section 6.01(c). (b) 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 2007-AR5 AR4 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth Thirteenth and Eleventh Fourteenth clauses of Section 6.01(b6.01(a) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II applicable Certificateholders pursuant to the Tenth Thirteenth and Eleventh Fourteenth clauses of Section 6.01(b6.01(a) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Class A-2 Certificates and the Class II-A-3 Certificates and the Class B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 AR4 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Class A-5, Class A-6 and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group I Certificates (other than the Class X Certificates), Class I-B-IO Certificates, Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Wells Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments Mortgagx Xxvestments II Inc., Bear Xxxxxxx Stearns Mortgage Funding Trust 20072006-AR5AR3, Mortgage Pass-Through Certificates, Series 20072000-AR5XX0." The Trustee shall demand payment of all money payable by each Corridor Cap Counterparty under each Corridor Cap Contract. The Trustee shall deposit in the Reserve Fund all Corridor Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section Sections 6.01(a) and 6.01(b), all payments from Excess Cashflow Cash Flow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Excess Cash Flow amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth and Fifteenth clauses of Section 6.01(a) and Section 6.01(c). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow Cash Flow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(d). (b) 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 20072006-AR5 AR3 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Fourteenth and Fifteenth clauses of Section 6.01(a), the Ninth and Tenth and Eleventh clauses of Section 6.01(b), Section 6.01(c) and Section 6.01(c6.01(d) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group I Certificateholders pursuant to the Fourteenth and Fifteenth clauses of Section 6.01(a) and Section 6.01(c) will be treated as first distributed to the Class I-B-IO Certificateholders and then paid from the Class I-B-IO Certificateholders to such Holders and (ii) amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(d) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group I Certificates (other than the Class X Certificates) and Class I-B-IO Certificates shall, at the written direction of the Class I-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the related Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the related Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the such Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR3 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group I Certificates (other than the Class X Certificates) and the Class I-B-IO Certificates shall be taxable to the Class I-B-IO Certificateholders. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "“Reserve Fund"”) on behalf of the Holders of the Group II I Offered Certificates (other than the Class X Certificates and the Grantor Trust Certificates), the Underlying Class II-A-2 Certificates, Class I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Wells Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments Investxxxxx II Inc., Bear Xxxxxxx Stearns Mortgage Funding Trust 20072006-AR5AR2, Mortgage Pass-Through Certificates, Series 20072006-AR5AR2." The Trustee ” Thx Xxxxxee shall demand payment of all money payable by each Corridor the related Cap Counterparty under each Corridor the related Cap Contract, as applicable. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the related Cap Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section Sections 6.01(a) and 6.01(b), all payments from Excess Cashflow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Group II Offered Class X Certificates and the Excess Cashflow Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and the amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates, as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth, Fifteenth and Seventeenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders Offered, Class II-B-5 and the Class II-B-IO Certificateholders in accordance with the Ninth, Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 20072006-AR5 AR2 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Fourteenth and Fifteenth clauses of Section 6.01(a) will be treated as first distributed to the Class I-B-IO Certificateholders and and then paid from the Class I-B-IO Certificateholders to the Group I Offered Certificateholders (other than the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and (ii) amounts distributed to Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and and then paid from the Class II-B-IO Certificateholders to such Holdersthe Group II Offered Certificateholders and the Class II-B-5 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group I Offered Certificates (other than the Holders of the Class X Certificates and the Grantor Trust Certificates), the Underlying Class I-A-2 Certificates and Class I-B-IO Certificateholders shall, at the written direction of the Class I-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Certificates, the Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the related Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' ’ own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the related Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the such Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR2 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group I Offered Certificates (other than the Class X Certificates and the Grantor Trust Certificates), the Underlying Class I-A-2 and Class I-B-IO Certificateholders shall be taxable to the Class I-B-IO Certificateholders. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Certificates, the Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "a Reserve Fund") Fund on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO A-4 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankDeutsche Bank Trust Company Americas, National Association as Trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Residential Accredit Loans, Inc., Bear Xxxxxxx Mortgage Funding Trust 2007Asset-AR5, Mortgage Backed Pass-Through Certificates, Series 20072006-AR5." QS7". The Trustee shall demand payment of all money payable by each Corridor Counterparty the Yield Maintenance Agreement Provider under each Corridor Contractthe Yield Maintenance Agreement. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts payments received by it from the Yield Maintenance Agreement Provider pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Yield Maintenance Agreement. On each Distribution Date, the Trustee shall distribute remit the Yield Maintenance Payment, if any, from amounts on deposit received by it from the Yield Maintenance Agreement Provider to the Holders of the Class A-4 Certificates, in the Reserve Fund held manner provided in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b4.02(f) and Section 6.01(c).shall remit the Yield Maintenance Agreement Excess Amount, if any, to Citigroup Global Markets Realty Corp., an affiliate of Citigroup Global Markets Inc., as it is directed by the Master Servicer. The Trustee shall invest any cash collateral received pursuant to the Yield Maintenance Agreement as directed by the Master Servicer in consultation with Citibank, N.A.. (b) The Reserve Fund is an "outside reserve fund" within the meaning of Treasury Regulation Section 1.860G-2(hRegulationss.1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any 20072006-AR5 QS7 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders Citigroup Global Markets Inc. shall be the beneficial owners owner of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders4.02(f). Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shallFund, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later other than the Business Day prior cash collateral received pursuant to the next succeeding Distribution Date. If no written direction is receivedYield Maintenance Agreement, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out held uninvested in a trust account of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any no liability for interest in any 2007-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholdersor other compensation thereon.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "“Reserve Fund"”) on behalf of the Holders of the Group II I Offered Certificates (other than the Class X Certificates and the Grantor Trust Certificates), the Underlying Class II-A-2 Certificates, Class I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Wells Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Investmentx XX Inc., Bear Xxxxxxx Stearns Mortgage Funding Trust 20072006-AR5AR2, Mortgage Pass-Through Certificates, Series 20072006-AR5AR2." ” The Trustee Trxxxxx shall demand payment of all money payable by each Corridor the related Cap Counterparty under each Corridor the related Cap Contract, as applicable. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the related Cap Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section Sections 6.01(a) and 6.01(b), all payments from Excess Cashflow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Group II Offered Class X Certificates and the Excess Cashflow Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and the amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates, as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth, Fifteenth and Seventeenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders Offered, Class II-B-5 and the Class II-B-IO Certificateholders in accordance with the Ninth, Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 20072006-AR5 AR2 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Fourteenth and Fifteenth clauses of Section 6.01(a) will be treated as first distributed to the Class I-B-IO Certificateholders and and then paid from the Class I-B-IO Certificateholders to the Group I Offered Certificateholders (other than the Class X Certificates and the Grantor Trust Certificates) and the Underlying Class I-A-2 Certificates and (ii) amounts distributed to Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and and then paid from the Class II-B-IO Certificateholders to such Holdersthe Group II Offered Certificateholders and the Class II-B-5 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group I Offered Certificates (other than the Holders of the Class X Certificates and the Grantor Trust Certificates), the Underlying Class I-A-2 Certificates and Class I-B-IO Certificateholders shall, at the written direction of the Class I-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Certificates, the Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the related Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' ’ own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the related Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the such Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR2 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group I Offered Certificates (other than the Class X Certificates and the Grantor Trust Certificates), the Underlying Class I-A-2 and Class I-B-IO Certificateholders shall be taxable to the Class I-B-IO Certificateholders. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Certificates, the Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "“Reserve Fund"”) on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "“Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5AR1, Mortgage Pass-Through Certificates, Series 2007-AR5AR1." ” The Trustee shall demand payment of all money payable by each Corridor Cap Counterparty under each Corridor Cap Contract. The Trustee shall deposit in the Reserve Fund all Corridor Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(b), all payments from Excess Cashflow Cash Flow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow Cash Flow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 2007-AR5 AR1 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO Certificateholders' ’ own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 AR1 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered Principal Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankCitibank, National Association N.A. as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding ALT-A Trust 2007-AR53, Mortgage Pass-Through Certificates, Series 2007-AR53." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b6.01(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered Certificates Principal Certificateholders and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders Principal Certificateholders, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for to the benefit of the Group II Principal Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b). (b) 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 2007-AR5 3 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable Principal Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Principal Certificateholders and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee Securities Administrator out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 3 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates Principal Certificateholders and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group I Certificates (other than the Class X Certificates), Class I-B-IO Certificates, Group II Offered Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Wells Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments Investxxxxx II Inc., Bear Xxxxxxx Stearns Mortgage Funding Trust 20072006-AR5AR3, Mortgage Pass-Through Certificates, Series 20072006-AR5AR3." The Trustee Xxx Xrustee shall demand payment of all money payable by each Corridor Cap Counterparty under each Corridor Cap Contract. The Trustee shall deposit in the Reserve Fund all Corridor Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section Sections 6.01(a) and 6.01(b), all payments from Excess Cashflow Cash Flow described under the Fourteenth and Fifteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Excess Cash Flow amounts described in the Fourteenth and Fifteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the Fourteenth and Fifteenth clauses of Section 6.01(a) and Section 6.01(c). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow Cash Flow amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(d). (b) 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 20072006-AR5 AR3 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Fourteenth and Fifteenth clauses of Section 6.01(a), the Ninth and Tenth and Eleventh clauses of Section 6.01(b), Section 6.01(c) and Section 6.01(c6.01(d) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group I Certificateholders pursuant to the Fourteenth and Fifteenth clauses of Section 6.01(a) and Section 6.01(c) will be treated as first distributed to the Class I-B-IO Certificateholders and then paid from the Class I-B-IO Certificateholders to such Holders and (ii) amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(d) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group I Certificates (other than the Class X Certificates) and Class I-B-IO Certificates shall, at the written direction of the Class I-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the related Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the related Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the such Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR3 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group I Certificates (other than the Class X Certificates) and the Class I-B-IO Certificates shall be taxable to the Class I-B-IO Certificateholders. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered I Offered, the Class I-B-4 Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankCitibank, National Association N.A. as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Stearns ALT-A Trust 2007-AR52, Mortgage PassPasx-Through Xxxxxgh Certificates, Series 2007-AR52." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(b6.01(a), all payments from Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Holders of the Group II Certificateholders I Offered Certificates and the Class III-B-4 Certificates, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders I Offered, Class I-B-4 and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b). (b) 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 2007-AR5 2 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II I Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable Group I Offered or Class I-B-4 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-4 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee Securities Administrator out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 2 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-4 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group I Offered Certificates (other than the Class X Certificates), Class I-B-IO Certificates, Group II Offered Certificates, Class II-B-5 Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 20072006-AR5AR1, Mortgage Pass-Through Certificates, Series 20072006-AR5AR1." The Trustee shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section Sections 6.01(a) and 6.01(b), all payments from Excess Cashflow described under the Twelfth and Thirteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Group I Offered Certificateholders (other than the Holders of the Group II Offered Certificates Class X Certificates) and the Excess Cashflow amounts described in the Twelfth and Thirteenth clauses of Section 6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates), as applicable, and the Class I-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund to the Group I Certificateholders (other than the Holders of the Class X Certificates) and the Class I-B-IO Certificateholders in accordance with the Twelfth, Thirteenth and Fourteenth clauses of Section 6.01(a). All Cap Contract Payment Amounts received from Cap Contracts benefiting the Group II Offered Certificateholders and the Class II-B-5 Certificateholders and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders Offered, Class II-B-5 and the Class II-B-IO Certificateholders in accordance with the Ninth, Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c). (b) 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 20072006-AR5 AR1 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Twelfth and Thirteenth clauses of Section 6.01(a) and the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Twelfth and Thirteenth clauses of Section 6.01(a) will be treated as first distributed to the Class I-B-IO Certificateholders and and then paid from the Class I-B-IO Certificateholders to the Group I Offered Certificateholders and (ii) amounts distributed to Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and and then paid from the Class II-B-IO Certificateholders to such Holdersthe Group II Offered Certificateholders and the Class II-B-5 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Group I Offered Certificateholders (other than the Holders of the Class X Certificates) and Class I-B-IO Certificateholders shall, at the written direction of the Class I-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. Amounts in the Reserve Fund held in trust for the benefit of the Group II Offered Certificates Offered, Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the related Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the related Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the such Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR1 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders Group I Offered and Class I-B-IO Certificateholders shall be taxable to the Class I-B-IO Certificateholders. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Offered Certificates Offered, Class II-B-5 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered Certificates and the I Offered, Class I-B-3, Class B-IO, Class II-BB-1, Class II-IO B-2, Class II-X-B1 and Class II-X-B2 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, U.S. Bank National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding ALT-A Trust 20072006-AR53, Mortgage Pass-Through Certificates, Series 20072006-AR53." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a) and 6.02(i)(a), all payments from Excess Cashflow described under the Tenth ninth and Eleventh tenth clauses of Section 6.01(b6.01(a) and clause (J) of Section 6.02(i)(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II I Offered Certificates and Class I-B-3 Certificateholders and the Excess Cashflow amounts described in the Tenth ninth and Eleventh tenth clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II I Offered and Class I-B-3 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. All Cap Contract Payment Amounts received from Cap Contracts benefiting the Class II-B-1 and Class II-B-2 Certificateholders and the amounts described in Section 6.02(i)(a)(J) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the Class II-B-1 and Class II-B-2 Certificateholders, as applicable, and the Class II-BX-IO B Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to (i) the Group II Certificateholders I Offered, Class I-B-3, and the Class II-B-IO Certificateholders in accordance with the Tenth ninth and Eleventh tenth clauses of Section 6.01(a) and Section 6.01(b) and Section 6.01(c(ii) the Class II-B-1, Class II-B-2, Class II-X-B1 and Class II-X-B2 Certificateholders in accordance with Sections 6.02(i)(a)(J) and 6.02(i)(f). (b) 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 20072006-AR5 3 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class B-IO, Class II-BX-IO B1 and Class II-X-B2 Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Tenth ninth and Eleventh tenth clauses of Section 6.01(a), Section 6.01(b), Section 6.02(a)(J) and and Section 6.01(c6.02(i)(f) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Tenth ninth and Eleventh tenth clauses of Section 6.01(b6.01(a) will be treated as first distributed to the Class B-IO Certificateholders and then paid from the Class B-IO Certificateholders to the applicable Group I Offered or Class I-B-3 Certificateholders and (ii) amounts distributed to Certificateholders pursuant to Section 6.01(c6.02(i)(a)(J) will be treated as first distributed to the Class II-BX-IO Certificateholders B1 or Class II-X-B2 Certificateholders, as applicable, and then paid from such Class II-X-B1 or Class II-X-B2 Certificateholders to the Class II-BB-1 or Class II-IO Certificateholders to such HoldersB-2 Certificateholders, as applicable. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Amounts in the Reserve Fund held in trust for the benefit of the Class II-B-1 or Class II-B-2 Certificateholders, as applicable, and the Class II-X-B1 or Class II-X-B2 Certificateholders, as applicable, shall, at the written direction of the Class II-X-B1 or Class II-X-B2 Certificateholders, as applicable, or invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable, to the Securities Administrator out of such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class B-IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class B-IO, Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable, not as a distribution in respect of any interest in any 20072006-AR5 3 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders Group I Offered, Class I-B-3 and Class B-IO Certificateholders shall be taxable to the Class B-IO Certificateholders. All amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Group II Offered Certificates Class II-B-1 or Class II-B-2 Certificateholders, as applicable, and the Class II-BX-IO Certificates B1 or Class II-X-B2 Certificateholders, as applicable, shall be taxable to the Class II-BX-IO B1 or Class II-X-B2 Certificateholders, as applicable.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates, Class B-5 Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo Bank, National Association as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR5AR2, Mortgage Pass-Through Certificates, Series 2007-AR5AR2." The Trustee shall demand payment of all money payable by each the Corridor Counterparty under each Corridor Contract. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a), all payments from the Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates Certificateholders and the Excess Cashflow Class B-5 Certificateholders and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for to the benefit Holders of the Group II Certificateholders Offered Certificates, Class B-5 Certificates and the Class II-B-IO Certificateholders Certificates in accordance with the Ninth, Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a). (b) 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 2007-AR5 AR2 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe Offered Certificateholders and the Class B-5 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates, the Class B-5 Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 2007-AR5 AR2 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates, the Class B-5 Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee Securities Administrator shall establish one or more segregated trust accounts (the "Reserve Fund") in the name of the Trustee on behalf of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankCitibank, National Association N.A. as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding ALT-A Trust 20072006-AR56, Mortgage Pass-Through Certificates, Series 20072006-AR56." The Trustee Securities Administrator shall demand payment of all money payable by each Corridor the Counterparty under each Corridor Contractthe Cap Contracts. The Trustee Securities Administrator shall deposit in the Reserve Fund all Corridor Contract Payment Amounts payments received by it from the Counterparty pursuant to the Cap Contracts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a) and 6.02(i)(a), all payments from Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and clause (J) of Section 6.02(i)(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II I Offered Certificates and the Excess Cashflow Class I-B-3 Certificates and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Securities Administrator in the name of the Trustee on behalf of the Trust, in trust for the benefit of the applicable Holders of the Group II Certificateholders I Offered Certificates and the Class III-B-3 Certificates, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee Securities Administrator shall distribute amounts on deposit in the Reserve Fund held in trust for the benefit of to the Group II Certificateholders I Offered, Class I-B-3, and the Class II-B-IO Certificateholders in accordance with the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b). (b) 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 20072006-AR5 6 REMIC. The Trustee Securities Administrator on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee Securities Administrator to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) and Section 6.01(c6.01(b) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, (i) amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe applicable Group I Offered or Class I-B-3 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related such Permitted Investments shall not in any case be a liability of the Trustee, Securities Administrator but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee Securities Administrator out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee Securities Administrator into the Reserve Fund. To the extent that the Class II-B-B- IO Certificateholders have provided the Trustee Securities Administrator with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee Securities Administrator shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 6 REMIC. All monies amounts earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates I Offered, Class I-B-3 and the Class II-B-IO Certificates Certificateholders shall be taxable to the Class II-B-IO Certificateholders.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "a Reserve Fund") Fund on behalf of the Holders of the Group II Offered Certificates and the Class II-B-IO A-7 Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Fargo BankDeutsche Bank Trust Company Americas, National Association as Trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Residential Accredit Loans, Inc., Bear Xxxxxxx Mortgage Funding Trust 2007Asset-AR5, Mortgage Backed Pass-Through Certificates, Series 20072006-AR5." QS5". The Trustee shall demand payment of all money payable by each Corridor Counterparty the Yield Maintenance Agreement Provider under each Corridor Contractthe Yield Maintenance Agreement. The Trustee shall deposit in the Reserve Fund all Corridor Contract Payment Amounts and, prior to distribution of such amounts payments received by it from the Yield Maintenance Agreement Provider pursuant to Section 6.01(b), all payments from Excess Cashflow described under the Tenth and Eleventh clauses of Section 6.01(b). All Corridor Contract Payment Amounts received from Corridor Contracts benefiting the Holders of the Group II Offered Certificates and the Excess Cashflow amounts described in the Tenth and Eleventh clauses of Section 6.01(b) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the terms and provisions of this Yield Maintenance Agreement. On each Distribution Date, the Trustee shall distribute remit the Yield Maintenance Payment, if any, from amounts on deposit received by it from the Yield Maintenance Agreement Provider to the Holders of the Class A-7 Certificates, in the Reserve Fund held manner provided in trust for the benefit of the Group II Certificateholders and the Class II-B-IO Certificateholders in accordance with the Tenth and Eleventh clauses of Section 6.01(b4.02(f) and Section 6.01(c).shall remit the Yield Maintenance Agreement Excess Amount, if any, to Merrill Lynch, Pierce, Fenner & Smith Incorporated, as it is directed by the Xxxxxx Servicer. The Txxxxxx sxxxx invest any cash collateral received pursuant to the Yield Maintenance Agreement as directed by the Master Servicer in consultation with Merrill Lynch, Pierce, Fenner & Smith Incorporated (b) The Reserve Txx Xxxxrve Fund is an "outside reserve ouxxxxx resexxx fund" within the meaning of Treasury Regulation Section 1.860G-2(hRegulationss.1.860G-2(h) and shall be an asset of the Trust Fund but not an asset of any 20072006-AR5 QS5 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposesMerrill Lynch, the Class II-B-IO Certificateholders Pierce, Fenner & Smith Incorporated shall be the beneficial owners of oxxxx xx the Reserve Fund, subject to the xxxxect xx xhe power of the Trustee to distribute amounts under the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holders4.02(f). Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out held uninvested in a trust account of the Class II-B-IO Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any no liability for interest in any 2007-AR5 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholdersor other compensation thereon.

Reserve Fund. (a) On or before the Closing Date, the Trustee shall establish one or more segregated trust accounts (the "Reserve Fund") on behalf of the Holders of the Group II Offered Certificates, Class B-5 Certificates and the Class II-B-IO Certificates. The Reserve Fund must be an Eligible Account. The Reserve Fund shall be entitled "Reserve Fund, Xxxxx Wells Fargo Bank, National Association as Trustee f/b/o holders Holders of Structured Asset Xxxet Mortgage Investments II Inc., Bear Xxxxxxx Stearns Mortgage Funding Trust 20072006-AR5AR4, Mortgage Pass-Through Certificates, Series 2007Xxxxxx 2006-AR5AR4." The Trustee shall demand payment of all money payable by each Corridor the Cap Counterparty under each Corridor Cap Contract. The Trustee shall deposit in the Reserve Fund all Corridor Cap Contract Payment Amounts and, prior to distribution of such amounts pursuant to Section 6.01(bSections 6.01(a), all payments from the Excess Cashflow described under the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a). All Corridor Cap Contract Payment Amounts received from Corridor Cap Contracts benefiting the Holders of the Group II Offered Certificates Certificateholders and the Excess Cashflow Class B-5 Certificateholders and the amounts described in the Ninth and Tenth and Eleventh clauses of Section 6.01(b6.01(a) deposited to the Reserve Fund shall be held by the Trustee on behalf of the Trust, in trust for the benefit of the applicable Group II Offered Certificateholders and the Class II-B-5 Certificateholders, as applicable, and the Class B-IO Certificateholders in accordance with the terms and provisions of this Agreement. On each Distribution Date, the Trustee shall distribute amounts on deposit in the Reserve Fund held in trust for to the benefit Holders of the Group II Certificateholders Offered Certificates, Class B-5 Certificates and the Class II-B-IO Certificateholders Certificates in accordance with the Ninth, Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a). (b) 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 20072006-AR5 AR4 REMIC. The Trustee on behalf of the Trust shall be the nominal owner of the Reserve Fund. For federal income tax purposes, the Class II-B-IO Certificateholders shall be the beneficial owners of the Reserve Fund, subject to the power of the Trustee to distribute amounts under the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) and shall report items of income, deduction, gain or loss arising therefrom. For federal income tax purposes, amounts distributed to Group II Certificateholders pursuant to the Ninth and Tenth and Eleventh clauses of Section 6.01(b) and Section 6.01(c6.01(a) will be treated as first distributed to the Class II-B-IO Certificateholders and then paid from the Class II-B-IO Certificateholders to such Holdersthe Offered Certificateholders and the Class B-5 Certificateholders. Amounts in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates, the Class B-5 Certificates and the Class II-B-IO Certificates shall, at the written direction of the Class II-B-IO Certificateholders, be invested in Permitted Investments that mature no later than the Business Day prior to the next succeeding Distribution Date. If no written direction is received, the amounts in the Reserve Fund shall remain uninvested. Any losses on the related Permitted Investments shall not in any case be a liability of the Trustee, but an amount equal to such losses shall be given by the Class II-B-IO Certificateholders to the Trustee out of the Class II-B-IO such Certificateholders' own funds immediately as realized, for deposit by the Trustee into the Reserve Fund. To the extent that the Class II-B-IO Certificateholders have provided the Trustee with such written direction to invest such funds in Permitted Investments, on each Distribution Date the Trustee shall distribute all net income and gain from such Permitted Investments in the Reserve Fund to the Class II-B-IO Certificateholders, not as a distribution in respect of any interest in any 20072006-AR5 AR4 REMIC. All monies earned on amounts on deposit in the Reserve Fund held in trust for the benefit of the Holders of the Group II Offered Certificates, the Class B-5 Certificates and the Class II-B-IO Certificates shall be taxable to the Class II-B-IO Certificateholders.