Common use of Separate Interest Trust Clause in Contracts

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator in respect of the Corridor Contracts pursuant to the Corridor Contract Administration Agreements. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 A-8 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Pursuant to the Novation Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of DBAG has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of DBAG's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner DBAG will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Novation Agreements on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 A-8 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Novation Agreements on behalf of the Separate Interest Trust and shall do so solely in its capacities capacity as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) Pursuant to the Corridor Contracts, the Corridor Contract Counterparty shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor Contract Counterparty pursuant to the related Corridor Contract for each Distribution Date occurring after the initial Distribution Date and prior to the Corridor Contract Termination Date. The Trustee shall will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund any and all amounts received from time for application as provided in Section 4.7(b). The Trustee shall distribute to time from the Corridor Contract Administrator in respect DBAG, as owner of the Corridor Contracts residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contract Administration AgreementsContracts in connection with a Distribution Date occurring after the initial Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall on behalf of the Separate Interest Trust terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 Certificates and Class I-A-7 A-3 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration AgreementsPursuant to the Novation Agreement, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Novation Agreement on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 A-3 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements Novation Agreement and shall do so solely in its capacities capacity as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) Pursuant to the Corridor Contracts, the Corridor Contract Counterparty shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor Contract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee shall will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund any and all amounts received from time for application as provided in Section 4.7(b). The Trustee shall pay to time from the Corridor Contract Administrator in respect CHL, as owner of the Corridor Contracts residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contract Administration AgreementsContracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates A-2 (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(b), the Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon the termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds as provided in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof4.7(c), the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund and Separate Interest Trust after payment of the applicable Yield Supplement Amountsamounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-2 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates A-16 (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(b), the Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon the termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds as provided in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof4.7(c), the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund and Separate Interest Trust after payment of the applicable Yield Supplement Amountsamounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-16 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 A-6 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner Citigroup Global Markets Inc. will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Contracts on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 A-6 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements Contracts and shall do so solely in its capacities capacity as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) Pursuant to the Corridor Contracts, the Corridor Contract Counterparty shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor Contract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the applicable Corridor Contract Termination Date. The Trustee shall will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund any and all amounts received from time for application as provided in Section 4.7(b). The Trustee shall pay to time from the Corridor Contract Administrator in respect Citigroup Global Markets Inc., as owner of the Corridor Contracts residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contract Administration AgreementsContracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the applicable Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the a Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountsAmount, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor Seller hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 X Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 and all of its right, title and interest in and to the Underlying Yield Supplement Amounts into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Separate Interest Distribution Account and the Corridor Reserve Fund will also be assets an asset of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacityFund. (b) The Trustee shall deposit into the Corridor Reserve Fund Separate Interest Distribution Account any and all amounts Underlying Yield Supplement Amounts received from time to time from the Corridor Contract Administrator in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsUnderlying Certificates. (c) On the Closing Date, the Separate Interest Trust will issue the Class X Certificates in substantially the form attached hereto as Exhibit D. The Class X Certificates will evidence an undivided beneficial ownership interest in the Separate Interest Trust. Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunderCertificates, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b3.5(b) hereof, the Trustee shall terminate the Corridor Reserve Fund Separate Interest Distribution Account and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund Separate Interest Distribution Account and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund Separate Interest Distribution Account after payment distribution of the applicable Underlying Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 X Certificates, shall be distributed to the Corridor Residual OwnerSeller.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 A-4 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) Upon termination of the Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountsAmount, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-4 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 A-1, Class I-A-2 and Class I-A-7 A-4 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration AgreementsPursuant to the Novation Agreement, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Novation Agreement on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the A-1, Class I-A-7 A-2 and Class I-A-4 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements Novation Agreement and shall do so solely in its capacities capacity as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) Pursuant to the Corridor Contracts, the Corridor Contract Counterparty shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor Contract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee shall will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund any and all amounts received from time for application as provided in Section 4.7(b). The Trustee shall pay to time from the Corridor Contract Administrator in respect CHL, as owner of the Corridor Contracts residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contract Administration AgreementsContracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates A-3 (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(b), the Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountsAmount, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-3 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class III-A-1 and Class I-A-7 Certificates A-11 (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountsAmount, if any, owed to the holders of the Class III-A-1 and Class I-A-7 A-11 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 A-1, Class I-A-6 and Class I-A-7 A-8 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account Contracts and the Corridor Reserve Fund will Funds shall also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will shall own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. . (b) The Depositor Trustee is hereby directs The Bank of New York directed to execute, execute and deliver the Contracts and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Disclosure Agreement on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, Depositor and the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, executing and delivering the Contracts and entering into the Corridor Contract Administration Agreements Disclosure Agreement on behalf of the Separate Interest Trust and shall do so solely in its capacities capacity as trustee Trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator in respect of the Corridor Contracts pursuant to the Corridor Contract Administration Agreements. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account Accounts on the applicable Distribution Date to pay distribute the amounts owed pursuant to specified in Section 4.7(b), (c) and (d) hereof, the Trustee shall terminate the Corridor Reserve Fund Funds and the Separate Interest Trust. Upon Any amounts remaining in each Reserve Fund on the earlier of (i) the Distribution Date on which the Class Certificate Balance of the related Certificates is reduced to zero and (ii) the termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 A-3 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account Contracts and the Corridor Reserve Fund Funds will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contracts on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund Funds any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the applicable Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the a Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor related Reserve Fund and (after both Reserve Funds are terminated) the Separate Interest Trust. Upon termination of the Corridor Reserve Fund Funds and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund Funds after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-3 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacityFund. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b3.5(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(b), the Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon the termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds as provided in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof4.7(c), the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund and Separate Interest Trust after payment of the applicable Yield Supplement Amountsamounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 A-4 and Class I-A-7 A-10 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account Contracts and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contracts on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the applicable Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 A-4 and Class I-A-7 A-10 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates A-5 (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The In addition to the deposits to be made on each Distribution Date pursuant to Section 4.7(b), the Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon the termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunderReserve Fund, following application by the Trustee of funds as provided in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof4.7(c), the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund and Separate Interest Trust after payment of the applicable Yield Supplement Amountsamounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 A-5 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 A-3 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Pursuant to the Novation Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of CHL has transferred by novation to the Separate Interest Trust, and the Separate Interest Trust has accepted the transfer by novation of all of CHL's rights, liabilities, duties and obligations under the Corridor Contracts. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, Contracts including without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner CHL will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Trustee is hereby directed by the Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee Novation Agreements on behalf of the Separate Interest Trust and as the Corridor Contract AdministratorTrust. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 A-3 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Novation Agreements and shall do so solely in its capacities capacity as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) Pursuant to the Corridor Contracts, the Corridor Contract Counterparty shall pay to the Trustee for the account of the Separate Interest Trust any amounts required to be paid by the Corridor Contract Counterparty pursuant to the related Corridor Contract for each Distribution Date prior to the Corridor Contract Termination Date. The Trustee shall will deposit an amount equal to the aggregate Yield Supplement Amounts for such Distribution Date into the Corridor Reserve Fund any and all amounts received from time for application as provided in Section 4.7(b). The Trustee shall pay to time from the Corridor Contract Administrator in respect CHL, as owner of the Corridor Contracts residual interest in the Separate Interest Trust, any amount received by the Trustee pursuant to the Corridor Contract Administration AgreementsContracts in connection with a Distribution Date in excess of the aggregate Yield Supplement Amounts, if any, for such Distribution Date. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 and Class I-A-7 Certificates (such trust is referred to herein as the "“Separate Interest Trust"”) and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust, shall sign the Corridor Contract on behalf of the Separate Interest Trust as such, and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor ContractsContract, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates and the Class I-A-7 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator Counterparty in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContract. (c) The Trustee will treat the Separate Interest Trust for Federal tax purposes as a grantor trust with the Corridor Residual Owner as the sole beneficiary and will apply for a separate Federal tax identification number for the Separate Interest Trust. (d) Upon termination of the Corridor Contracts Contract and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement AmountsAmount, if any, owed to the holders of the Class I-A-1 and Class I-A-7 Certificates, shall be distributed to the Corridor Residual Owner.

Separate Interest Trust. (a) The Depositor hereby creates a trust, separate from the Trust, for the benefit of the holders of the Class I-A-1 A-6 and Class I-A-7 A-11 Certificates (such trust is referred to herein as the "Separate Interest Trust") and hereby transfers, assigns and conveys the sum of $1.00 into the Separate Interest Trust. The Corridor Contract Administration Agreements, the Corridor Contracts, the Corridor Contract Account and the Corridor Reserve Fund will also be assets of the Separate Interest Trust. The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract Administration Agreements or the Corridor Contracts, including, without limitation, the representations and warranties of the parties contained therein. The Corridor Residual Owner will own the residual interest in the Separate Interest Trust. The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby. The Depositor hereby directs The Bank of New York to execute, deliver and enter into the Corridor Contract Administration Agreements, in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator. The Seller, the Depositor, the Master Servicer and the Holders of the Class I-A-1 Certificates A-6 and the Class I-A-7 A-11 Certificates (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing, delivering and entering into the Corridor Contract Administration Agreements and shall do so solely in its capacities as trustee of the Separate Interest Trust and as the Corridor Contract Administrator, and not in its individual capacity. (b) The Trustee shall deposit into the Corridor Reserve Fund any and all amounts received from time to time from the Corridor Contract Administrator in respect of the Corridor Contracts pursuant to the Corridor Contract Administration AgreementsContracts. (c) Upon termination of the Corridor Contracts and payment of all amounts owed by the Corridor Contract Counterparty thereunder, following application by the Trustee of funds in the Corridor Reserve Account on the applicable Distribution Date to pay amounts owed pursuant to Section 4.7(b) hereof, the Trustee shall terminate the Corridor Reserve Fund and the Separate Interest Trust. Upon termination of the Corridor Reserve Fund and the Separate Interest Trust, any amounts remaining in the Corridor Reserve Fund after payment of the applicable Yield Supplement Amounts, if any, owed to the holders of the Class I-A-1 A-6 and Class I-A-7 A-11 Certificates, shall be distributed to the Corridor Residual Owner.