Common use of The Lower Tier REMIC Clause in Contracts

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D $282,000,000.00 6.5% January 2004 Lower Tier Interest 2 F/S $141,000,000.00 8.0% January 2004 (Group 2) Lower Tier Interest 3 PA/SA $ 9,276,691.00 (1) August 2023 Class 72-RL Certificate (2) (2) August 2023 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR). (2) The Class 72-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 72-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 72-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 72-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 72-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 72-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 72-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes and Components Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 R $1,000.00 7.00% March 2027 Lower Tier Interest 2 A/AB/B/C/D $282,000,000.00 6.5D/EV A/VB/Z 254,999,000.00 7.00% January 2004 Lower Tier Interest 2 F/S $141,000,000.00 8.0% January 2004 (Group 2) March 2027 Lower Tier Interest 3 PAF1/S 17,775,625.00 9.50% September 0000 Xxxxx Xxxx Xxxxxxxx 0 XX 10,665,375.00 5.50% September 2012 Lower Tier Interest 5 PB 123,525,000.00 8.00% March 2027 Lower Tier Interest 6 FC/SC 44,516,000.00 7.50% September 2025 Lower Tier Interest 7 CB 11,484,250.00 7.50% May 2026 Lower Tier Interest 8 F2/SA $ 9,276,691.00 (1) August 2023 18,666,750.00 9.50% May 2026 Lower Tier Interest 9 FB/SB/CD 23,366,000.00 8.00% March 2027 Class 7225-RL Certificate (2) (2) August 2023 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.01151,000.00 8.00% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR). (2) The Class 72-RL Certificate has no principal balance and does not bear interest. March 2027 The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7225-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 heretohereto and shall be in an authorized denomination of $1,000. The Class 7225-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of Distributions on the Lower Tier Regular Interests Class 25-RL Certificate on any Distribution Date shall equal be made by check mailed by the Lower Tier Distribution Amount on Paying Agent not later than such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first Date to the distribution address of interest accrued on each Class the respective Holder thereof as of Lower Tier Regular Interests during the preceding Interest Accrual Period at Record Date; provided, however, that the per annum rate specified above and second final distribution to the principal thereof as described below. On each Distribution Date, Holder of the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests Class 25-RL Certificate shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 72-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof only upon presentation and surrender of the Class 7225-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7225-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7225-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Class Certificate Principal Balance of the Class 25-RL Certificate and the Principal Balances of the each Class of Lower Tier Regular Interests have been reduced to zero. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Adjusted Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Adjusted Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Class 25-RL Principal Distribution Amount shall be applied to the distribution of Principal of the Class 25-RL Certificate. On each Distribution Date, the Lower Tier Adjusted Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes and Components from the Cash Flow Distribution Amount pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest to be distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date Group (Group 1) Lower Tier Interest 1 A/BG/CH/D J/K/L/ $282,000,000.00 6.5400,000,000.00 7.000% January 2004 Lower Tier Interest 2 FPA/S $141,000,000.00 8.0PD/PE/PG/ 104,282,000.00 7.000% January 2004 (Group 2) Lower Tier Interest 3 PAPB/SA $ 9,276,691.00 (1) August 2023 Class 72-RL Certificate (2) (2) August 2023 (1) During its initial Interest Accrual Period, PC/PH 53,451,000.00 7.000% Lower Tier Interest 3 shall bear interest at a rate of 8.0115FA/SA/AP 42,267,000.00 7.000% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024QA/QB/QC/QD/ 150,000,000.00 6.500% per annum and a minimum rate of 0.00Lower Tier TA 54,767,000.00 8.000% per annum, at a rate per annum equal to 24.024Lower Tier T/TH 28,475,000.0 8.00% - (2.8 x LIBOR).Lower Tier FB/SB 16,758,000.0 8.000% (21) The Class 7213-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7213-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7213-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7213-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7213-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7213-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7213-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Class Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 AF/BS/C/D FA $282,000,000.00 6.5308,716,000.00 8.5% January 2004 March 2012 Lower Tier Interest 2 FZ/S ZA $141,000,000.00 8.041,284,000.00 8.5% January 2004 February 2027 (Group 2) Lower Tier Interest 3 PA/SA $ 9,276,691.00 $7,753,754.00 (1) August 2023 April 2022 (Group 3) Lower Tier Interest 4 SB/SC (2) (3) March 2024 Class 722-RL Certificate (24) (24) August 2023February 2027 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.01152.45000% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.0247.9500% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.0247.95% - (2.8 x LIBOR). (2) Lower Tier Interest 4 has no principal balance and shall bear interest on its notional principal balance at the rate described herein. The notional principal balance of Lower Tier Interest 4 shall at all times be equal to the Security Notional Principal Balance of the Class 1994- 40-S REMIC Certificate. (3) During its initial Interest Accrual Period, Lower Tier Interest 4 shall bear interest at a rate of 3.03125% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 4 shall bear interest, subject to a maximum rate of 8.5% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 8.5% - LIBOR. (4) The Class 722-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 722-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 722-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the applicable portion of the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 722-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 722-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 722-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 722-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date, except, as specified below, in the case of Lower Tier Interest 2. The total amount of interest to be distributed or added to principal with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance or notional principal balance, as applicable, of such Lower Tier Regular Interest immediately prior to such Distribution Date. The interest accrued on Lower Tier Interest 2 during each Interest Accrual Period shall not be distributed thereon but shall instead be added to the Principal Balance thereof on the related Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D FA $282,000,000.00 6.5% January 2004 5,000,000.00 (1) December 2022 Lower Tier Interest 2 FFB 18,223,670.00 (2) December 2022 Lower Tier Interest 3 FA/S FB/SA $141,000,000.00 8.0% January 2004 11,611,835.00 (3) December 2022 Lower Tier Interest 4 FA/FB/SB $11,611,835.00 (4) December 2022 (Group 2) Lower Tier Interest 3 PA5 FC/SA $ 9,276,691.00 SC 9,056,372.00 9.5% March 2017 (1Group 3) August Lower Tier Interest 6 FD/SD $17,112,256.00 9.5% February 2017 (Group 4) Lower Tier Interest 7 A/FE $3,000,000.00 (5) October 2023 (Group 5) Lower Tier Interest 8 FG/J $10,000.00 9.0% February 2017 Lower Tier Interest 9 FG/SG $7,646.93 (6) February 2017 Lower Tier Interest 10 FH/SH $8,615.04 (7) February 2017 Lower Tier Interest 11 FG $7,646.93 (8) February 2017 Lower Tier Interest 12 Lower Tier Interest 13 FH $8,615.04 (9) February 2017 FG/SG $7,646.93 (6) February 2017 Lower Tier Interest 14 FH/SH $8,615.04 (7) February 2017 Lower Tier Interest 15 FG $7,646.93 (8) February 2017 Lower Tier Interest 16 FH $8,615.04 (9) February 2017 Lower Tier Interest 17 J/SG/SH (10) 9.0% February 2017 Lower Tier Interest 18 FG/FH $16,091,958.12 (11) February 2017 Class 7227-RL Certificate (212) (212) August October 2023 (1) During its initial Interest Accrual Period, Lower Tier Interest 1 shall bear interest at a rate of 11.875% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 1 shall bear interest, subject to a maximum rate of 18.00% per annum and a minimum rate of 1.00% per annum, at a rate per annum equal to (2 x LIBOR) + 100 basis points. (2) During its initial Interest Accrual Period, Lower Tier Interest 2 shall bear interest at a rate of 11.875% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 2 shall bear interest, subject to a maximum rate of 19.00% per annum and a minimum rate of 1.00% per annum, at a rate per annum equal to (2 x LIBOR) + 100 basis points. (3) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.011513.8194% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.02435.5694% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.02435.5694% - (2.8 4 x LIBOR). (24) During its initial Interest Accrual Period, Lower Tier Interest 4 shall bear interest at a rate of 0.00% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 4 shall bear interest calculated as follows: If the level of LIBOR is less than or equal to 8.5% or greater than or equal to 9.0%, the Interest Rate for Lower Tier Interest 4 for the related Interest Accrual Period shall be 0.0%. If the level of LIBOR is greater than 8.5% and less than 9.0%, the formula for calculation of the Interest Rate for Lower Tier Interest 4 shall be as follows: If LIBOR is Maximum Interest Rate Minimum Interest Rate Formula for Calculation of Interest Rate Greater than 8.5% and less than or equal to 8.89235%................................. 0.33788% 0.0% (0.86119032 X LIBOR) — 7.32008% Greater than 8.89235% and less than 9.0% ........................................................... 0.33788% 0.0% 28.24928% — (3.13880964 X LIBOR) (5) During its initial Interest Accrual Period, Lower Tier Interest 7 shall bear interest at a rate of 11.69532% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 7 shall bear interest, subject to a maximum rate of 13.00% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to (LIBOR x 4.25) - 11.54687%. (6) During their initial Interest Accrual Period, Lower Tier Interests 9 and 13 shall bear interest at a rate of 3.44131% per annum. During each Interest Accrual Period thereafter, Lower Tier Interests 9 and 13 shall bear interest, subject to a maximum rate of 8.59263% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 8.59263% - (0.94736842 x LIBOR). (7) During their initial Interest Accrual Period, Lower Tier Interests 10 and 14 shall bear interest at a rate of 3.375% per annum. During each Interest Accrual Period thereafter, Lower Tier Interests 10 and 14 shall bear interest, subject to a maximum rate of 8.52632% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 8.52632% - (0.94736842 x LIBOR). (8) During their initial Interest Accrual Period, Lower Tier Interests 11 and 15 shall bear interest at a rate of 5.558684211% per annum. During each Interest Accrual Period thereafter, Lower Tier Interests 11 and 15 shall bear interest, subject to a maximum rate of 9.00% per annum and a minimum rate of 0.40737% per annum, at a rate per annum equal to (0.94736842 x LIBOR) + 0.40737%. (9) During their initial Interest Accrual Period, Lower Tier Interests 12 and 16 shall bear interest at a rate of 5.625% per annum. During each Interest Accrual Period thereafter, Lower Tier Interests 12 and 16 shall bear interest, subject to a maximum rate of 9.00% per annum and a minimum rate of 0.47368% per annum, at a rate per annum equal to (0.94736842 x LIBOR) + 0.47368%. (10) Lower Tier Interest 17 is an interest only Class and shall bear interest on its notional principal balance which at any time shall be equal to the notional balance of the interest only Trust SMBS designated 000001-CL times a factor equal to 1 minus a fraction the numerator of which is the sum of the Principal Balances of Lower Tier Interests 8, 9, 10, 11 and 12 and the denominator of which is the notional principal balance of such interest only Trust SMBS. (11) Lower Tier Interest 18 is a principal only Class and shall bear no interest. (12) The Class 7227-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7227-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7227-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02; provided, however, that (i) distributions of principal of Lower Tier Interests 1, 2 , 3 and 4 shall be made, concurrently, in proportion to their original Principal Balances (or 10.6748791082%, 39.2351208918%, 25.0000000000% and 25.0000000000%, respectively); (ii) distributions of principal of Lower Tier Interest 8 shall be made in an amount equal to 0.1905866218% of the Class 1989-102-A Principal Distribution Amount for such Distribution Date; (iii) distributions of principal of Lower Tier Interests 9, 11, 13, 15 and 18 shall be made, concurrently, in proportion to the then outstanding Principal Balances thereof in an amount equal to the excess of (x) the amount distributable as principal of the Class 27-FG Certificates pursuant to Section 3.02 hereof on such Distribution Date over (y) the amount specified in clause (ii) of this paragraph for such Distribution Date; and (iv) distributions of principal of Lower Tier Interests 10, 12, 14, 16 and 18 shall be made, concurrently, in proportion to the then outstanding Principal Balances thereof in an amount equal to the amount distributable as principal of the Class 27-FH Certificates on such Distribution Date pursuant to Section 3.02 hereof. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7227-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7227-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7227-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7227-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Final Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D 0 X,X $282,000,000.00 6.5% January 2004 Lower Tier Interest 2 F/S $141,000,000.00 8.0% January 2004 (Group 2) Lower Tier Interest 3 PA/SA $ 9,276,691.00 68,960,000 (1) August 2023 September 0000 Xxxxx Xxxx Xxxxxxxx 0 X,X 99,746,000 (1) June 0000 Xxxxx Xxxx Xxxxxxxx 0 X,X 39,980,000 (1) June 0000 Xxxxx Xxxx Xxxxxxxx 0 X,X 70,200,364 (1) May 2036 Class 727-RL Certificate (2) (2) August 2023May 2036 (1) During its initial Interest Accrual Period, Lower Tier Interest Interests 1,, 2, 3 shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 and 4 shall bear interest, subject as to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annumeach Distribution Date, at a rate per annum equal to 24.024% - (2.8 x LIBOR)the Weighted Average Pass-Through Rate for such Distribution Date. (2) The Class 727-RL Certificate has no principal balance Principal Balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 727-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 727-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period (except, to the extent described below, for interest accrued on Lower Tier Interest 4) at the applicable rate per annum rate specified above and second to the distribution of principal thereof as described belowof the Lower Tier Regular Interests. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts of the Principal Distribution Amount required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 727-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC REMIC, if any, shall be distributed to the Holder thereof upon presentation and surrender of the Class 727-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 727-RL Certificate as provided herein. Xxxxxx Xxx will shall distribute to the Holder of the Class 727-RL Certificate Certificateholder the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Except to the extent provided below with respect to Lower Tier Interest 4, interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to accrued on any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date. Prior to the Initial Interest Distribution Date, that portion of the interest accrued on Lower Tier Interest 4 with respect to each Distribution Date which is equal to the product of (x) the interest accrued on Lower Tier Interest 4 for the related Interest Accrual Period and (y) a fraction the numerator of which is equal to the excess of the Weighted Average Pass-Through Rate for such Distribution Date over 0.985% and the denominator of which is equal to the Weighted Average Pass-Through rate for such Distribution Date, shall not be distributable as interest on Lower Tier Interest 4 but shall instead be added to the Principal Balance thereof on such Distribution Date. In addition to interest distributable thereon as provided in the preceding paragraph, on each Distribution Date the Prepayment Penalty Amount, if any, for such Distribution Date will be distributed on particular Lower Tier Regular Interests in amounts corresponding to the respective amounts of such Prepayment Penalty Amount required to be distributed on their related Companion Classes pursuant to Section 3.02, with the amount allocable to the Interest Only Certificates to be allocated among the Lower Tier Regular Interests on a pro rata basis.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D $282,000,000.00 6.5A $ 4,000,000 8.50% January 2004 May 2000 Lower Tier Interest 2 F/S $141,000,000.00 8.0B 36,513,700 7.50% January 2004 (Group 2) April 2021 Lower Tier Interest 3 PAFA/SA $ 9,276,691.00 (1) August 73,027,300 9.00% April 2021 Lower Tier Interest 4 FD/SE/SG/SH 13,633,000 8.00% September 2023 Lower Tier Interest 5 D/E/G 18,289,140 8.00% March 2026 Lower Tier Interest 6 FB/SD/SB 37,010,378 8.80% March 2026 Lower Tier Interest 7 FC/SC/SB 16,193,182 8.80% March 2026 Lower Tier Interest 8 Z 1,333,300 8.50% November 2026 Class 7247-RL Certificate (21) (21) August 2023November 2026 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR). (2) The Class 7247-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7247-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7247-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period (together with, on any Redemption Distribution Date, twenty-four days’ interest on the respective Principal Balances of Lower Tier Interests 1, 2, 5 and 8 that would have been outstanding immediately following such Redemption Distribution Date on the basis of the assumptions set forth in clauses (x) and (y) of the fourth paragraph of Section 3.02) at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7247-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7247-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7247-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7247-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to (i) one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution DateDate and (ii) in the case of any Redemption Distribution Date and Lower Tier Interests 1, 2, 5 and 8, such additional amount as shall be calculated pursuant to the parenthetical clause in the third paragraph of this Section 2.02.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Classes Principal Balance Rate Lower Tier Interest 1 A/B/C/D PA $282,000,000.00 6.55,180,000.00 5.0% January 2004 2011 Lower Tier Interest 2 F/S S/SA $141,000,000.00 86,679,000.00 9.0% May 2027 Lower Tier Interest 3 PB/PH $42,562,000.00 7.5% March 2018 Lower Tier Interest 4 PC/PH $41,341,000.00 7.5% March 2022 Lower Tier Interest 5 PD/PE/PG/PH $85,336,000.00 7.5% May 2027 Lower Tier Interest 7 FB/SB $25,596,000.00 9.0% May 2027 Lower Tier Interest 8 Z $7,075,000.00 8.0% January 2004 May 2027 Lower Tier Interest 9 G/H/J/K/LL/ZA $200,000,000.00 7.5% April 2027 Lower Tier Interest 10 A/B/C $150,000,000.00 7.0% May 2027 (Group 1) Lower Tier Interest 6 is a principal only Class and shall bear no interest. (2) Lower Tier Interest 3 PA/SA $ 9,276,691.00 (1) August 2023 Class 72-RL Certificate (2) (2) August 2023 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 11 shall bear interest at a rate of 8.0115% per annum. During during each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to at a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR)the Weighted Average Pool Accrual Rate. (23) The Class 7228-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7228-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7228-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on during any Distribution Date calendar month shall equal the Lower Tier Distribution Amount on such Distribution Datetherefor. On each Distribution Date, the applicable portion of the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each applicable Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the applicable portion of the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.023.02 from the Cash Flow Distribution Amount and the Group 1 Accrual Amount. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7228-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7228-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7228-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7228-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. Date except, as specified below, in the case of Lower Tier Interest 8 The total amount of interest to be distributed or added to principal with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date. On each Distribution Date, the interest accrued on Lower Tier Interest 8 during the prior Interest Accrual Period shall not be distributed as interest thereon but shall instead be added to the Principal Balance thereof.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Class Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D 0 X,X $282,000,000.00 6.5% January 2004 10,880,000 (1) November 0000 Xxxxx Xxxx Xxxxxxxx 0 X,X 37,076,000 (1) November 0000 Xxxxx Xxxx Xxxxxxxx 0 X,X 112,868,000 (1) November 2036 Lower Tier Interest 2 F/S $141,000,000.00 8.0% January 2004 (Group 2) Lower Tier Interest 3 PA/SA $ 9,276,691.00 4 V 23,300,000 (1) August 2023 December 0000 Xxxxx Xxxx Xxxxxxxx 0 X, X 19,959,000 (1) November 0000 Xxxxx Xxxx Xxxxxxxx 0 XX, X 12,525,590 (1) November 2036 Class 724-RL Certificate (2) (2) August 2023November 2036 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafterInterests 1, Lower Tier Interest 3 2, 3, 4, 5 and 6 shall bear interest, subject as to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annumeach Distribution Date, at a rate per annum equal to 24.024% - (2.8 x LIBOR)the Weighted Average Pass-Through Rate for such Distribution Date. (2) The Class 724-RL Certificate has no principal balance Principal Balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 724-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 724-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period (except, to the extent described below, for interest accrued on Lower Tier Interest 5 or Lower Tier Interest 6) at the rate per annum rate specified above and second to the distribution of principal thereof as described belowof the Lower Tier Regular Interests. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts of the Principal Distribution Amount required to be applied as principal of their related Companion Classes pursuant to the priorities set forth specified in Section 3.02the Prospectus Supplement. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 724-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC REMIC, if any, shall be distributed to the Holder thereof upon presentation and surrender of the Class 724-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 724-RL Certificate as provided herein. Xxxxxx Xxx will shall distribute to the Holder of the Class 724-RL Certificate Certificateholder the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Class Balances of the Lower Tier Interests have been reduced to zero. Interest Except to the extent provided below with respect to Lower Tier Interests 5 and 6, interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to accrued on any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Class Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date. Prior to the Initial Interest Distribution Date with respect to Lower Tier Interest 5, that portion of the interest accrued on Lower Tier Interest 5 with respect to each Distribution Date that is equal to the interest accrued during the related Interest Accrual Period on the Class 4-Z Certificates shall not be distributable as interest on Lower Tier Interest 5 but shall instead be added to the Class Balance thereof on such Distribution Date. Prior to the Initial Interest Distribution Date with respect to Lower Tier Interest 6, that portion of the interest accrued on Lower Tier Interest 6 with respect to each Distribution Date that is equal to the interest accrued during the related Interest Accrual Period on the Class 4-ZA Certificates shall not be distributable as interest on Lower Tier Interest 6 but shall instead be added to the Class Balance thereof on such Distribution Date. In addition to interest distributable thereon as provided in the preceding paragraph, on each Distribution Date the Prepayment Penalty Amount, if any, for such Distribution Date will be distributed on particular Lower Tier Regular Interests in amounts corresponding to the respective amounts of such Prepayment Penalty Amount required to be distributed on their related Companion Classes pursuant to Section 3.02, with the amount allocable to the Interest Only Class to be allocated among the Lower Tier Regular Interests on a pro rata basis.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Classes Principal Balance Date (Group 1) Lower Tier Interest 1 A/BF/CS/D Z PD $282,000,000.00 6.579,115,000.00 7.00000% January 2004 March 2027 Lower Tier Interest 2 FPG/S PB/PC PJ $141,000,000.00 8.095,885,000.00 7.00000% January 2004 (Group 2) April 2026 Lower Tier Interest 3 PA/SA $ 9,276,691.00 PJ $25,000,000.00 7.00000% April 2026 Lower Tier Interest 4 G/GA/GB GC/H/HA/VA VB/ZB $200,000,000.00 7.00000% March 2027 Lower Tier Interest 5 PE/ZA $112,696,838.00 8.00000% March 2027 Lower Tier Interest 6 FA/SA/B $93,178,159.00 8.00000% March 2027 Lower Tier Interest 7 FC/SC/C $19,125,003.00 8.00000% March 2027 Lower Tier Interest 8 J/SJ $8,090,264.00 (1) August March 2023 Lower Tier Interest 9 D/SD $11,779,721.00 (1) February 2023 Lower Tier Interest 10 M/SM $10,987,659.00 (1) February 2023 Class 7216-RL Certificate (2) (2) August 2023March 2027 (1) During its initial each Interest Accrual Period, Lower Tier Interest 3 Interests 8, 9 and 10 shall bear interest at a rate of 8.0115% per annum. During each the respective Certificate Interest Rates for such Interest Accrual Period thereafterof the Class 16-SJ, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024% per annum Class 16-SD and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR)Class 16-SM Certificates. (2) The Class 7216-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7216-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7216-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes from the Cash Flow Distribution Amount pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7216-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7216-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7216-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7216-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 A/B/C/D D/E $282,000,000.00 6.5300,000,000.00 7.000% January 2004 March 2027 Lower Tier Interest 2 G/H/F/S $141,000,000.00 8.0S/J 132,000,000.00 8.000% January 2004 (Group 2) February 2027 Lower Tier Interest 3 PAK 78,004,000.00 7.125% May 2023 Lower Tier Interest 4 W/SA $ 9,276,691.00 (1) August Y 76,410,000.00 7.000% May 2023 Lower Tier Interest 5 L/M 44,971,000.00 9.000% May 2023 Lower Tier Interest 6 N/TZ 70,792,000.00 7.500% March 2027 Lower Tier Interest 7 U/AC 6,127,000.00 7.500% September 2012 Lower Tier Interest 8 V/AC 10,102,000.00 7.500% September 0000 Xxxxx Xxxx Xxxxxxxx XX/XX 13,594,000.00 7.500% September 2012 Class 7211-RL Certificate (21) (21) August 2023March 2027 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall bear interest, subject to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR). (2) The Class 7211-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7211-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7211-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes from the Cash Flow Distribution Amount pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7211-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7211-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7211-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7211-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date. The total amount of interest distributed with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date.

The Lower Tier REMIC. The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the characteristics and terms as follows: Class Designation Companion Classes Original Principal Balance Interest Rate Final Distribution Date (Group 1) Lower Tier Interest 1 J $25,000,000.00 7.50% April 2027 Lower Tier Interest 2 A/B/CBF/D $282,000,000.00 6.5BG/BKB L/BP 78,075,000.00 7.00% January 2004 Lower Tier Interest 2 F/S $141,000,000.00 8.0% January 2004 (Group 2) February 2025 Lower Tier Interest 3 PAF1/SA $ 9,276,691.00 S/SC 19,085,000.00 9.00% February 2025 Lower Tier Interest 4 F2/SA/SC 28,850,000.00 9.00% February 2025 Lower Tier Interest 5 F3/S/SC 6,940,000.00 9.00% February 2025 Lower Tier Interest 6 HA/HB 5,770,000.00 (1) August January 2023 Lower Tier Interest 7 C/G 5,160,000.00 7.50% February 2002 Lower Tier Interest 8 D/E/G 19,370,000.00 7.50% April 2012 Lower Tier Interest 9 Z 11,750,000.00 7.50% April 2027 Class 7227-RL Certificate (2) (2) August 2023April 2027 (1) During its initial Interest Accrual Period, Lower Tier Interest 3 6 is a principal only Class and shall bear interest at a rate of 8.0115% per annum. During each Interest Accrual Period thereafter, Lower Tier Interest 3 shall not bear interest, subject to a maximum rate of 24.024% per annum and a minimum rate of 0.00% per annum, at a rate per annum equal to 24.024% - (2.8 x LIBOR). (2) The Class 7227-RL Certificate has no principal balance and does not bear interest. The Lower Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The Class 7227-RL Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-2 hereto. The Class 7227-RL Certificate may be transferred and is otherwise subject to the provisions of Article V hereof. The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Interests on any Distribution Date shall equal the Lower Tier Distribution Amount on such Distribution Date. On each Distribution Date, the Lower Tier Distribution Amount shall be applied first to the distribution of interest accrued on each Class of Lower Tier Regular Interests during the preceding Interest Accrual Period at the per annum rate specified above and second to the principal thereof as described below. On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes pursuant to the priorities set forth in Section 3.02. All computations of interest accrued on the Lower Tier Regular Interests shall be made as if each year consisted of twelve months of thirty days each. Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account. No distribution will be made on the Class 7227-RL Certificate, except that any distribution of the proceeds of the final remaining assets of the Lower Tier REMIC shall be distributed to the Holder thereof upon presentation and surrender of the Class 7227-RL Certificate at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from Xxxxxx Xxx. Xxxxxx Xxx hereby initially appoints State Street Bank and Trust Company at its corporate trust office as Paying Agent for the purpose of making distributions on the Class 7227-RL Certificate as provided herein. Xxxxxx Xxx will distribute to the Holder of the Class 7227-RL Certificate the proceeds of the remaining assets of the Lower Tier REMIC, if any, after the Principal Balances of the Lower Tier Interests have been reduced to zero. Interest accrued on each Class of Lower Tier Regular Interests for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each Distribution Date, except, as specified below, in the case of Lower Tier Interest 9. The total amount of interest distributed or added to principal with respect to any Lower Tier Regular Interest on any Distribution Date shall be equal to one month’s interest at the applicable Interest Rate on the Principal Balance of such Lower Tier Regular Interest immediately prior to such Distribution Date. On each Distribution Date prior to the Initial Interest Distribution Date, the interest accrued on Lower Tier Interest 9 during the prior Interest Accrual Period shall not be distributed thereon on the following Distribution Date but shall instead be added to the Principal Balance thereof.