The Upper Tier REMIC Sample Clauses

The Upper Tier REMIC. Xxxxxx Mae, acting in its corporate capacity, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee of the Upper Tier REMIC, all of Xxxxxx Mae’s right, title and interest in and to the Lower Tier Regular Interests, including all payments of principal and interest thereon received after the month of the Issue Date. The beneficial ownership interest of the Upper Tier REMIC shall be evidenced by the interests having the designations, original Class Balances, Certificate Interest Rates and Final Distribution Dates set forth on the Upper Tier Schedule. The Upper Tier Regular Interests shall be issued as non-certificated interests and recorded on the records of the Upper Tier REMIC as being issued to and held by the Trustee of the Trust Fund. The R Class Certificate shall be issued as a single fully registered certificate substantially in the form of Exhibit B-1 hereto. The R Class 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 Upper Tier Regular Interests during any calendar month shall equal the Upper Tier Distribution Amount for such calendar month. On each Distribution Date, the portion of the Upper Tier Distribution Amount distributable thereon shall be applied first to the distribution of interest accrued on each applicable Class of Upper Tier Regular Interests during the preceding Interest Accrual Period in the amount specified on the Upper Tier Schedule and second to the principal thereof as described below. All computations of interest accrued on the Upper Tier Regular Interests (other than Upper Tier Interests 1 and 8) shall be made as if each year consisted of 12 months of 30 days each; and all computations of interest on Upper Tier Interests 1 and 8 shall be made on the basis of an assumed 360-day year and the actual number of days elapsed. On each Distribution Date, the Upper Tier Principal Distribution Amount shall be applied as principal of particular Upper Tier Regular Interests in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes from the Principal Distribution Amount as provided herein. Distributions on the Upper Tier Regular Interests shall be made to the Trustee of the Trust by transfer of immediately available funds to the Certificate Account. No distribution will be made on the R Class Certific...
Sample 1
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The Upper Tier REMIC. The beneficial ownership interest of the Upper Tier REMIC constituted by the Trust shall be evidenced by the Certificates (other than the RM and RL Classes). The Certificates (other than the AR, RM and RL Classes) will be the Regular Interests in the REMIC constituted by the Trust. The AR Class Certificate shall be issued as a single fully registered certificate either as a part of a Combined Residual Certificate substantially in the form of Exhibit F hereto or as a separate Residual Certificate substantially in the form of Exhibit G hereto. The AR Class may be transferred and is otherwise subject to the provisions of Article V hereof.
Sample 1Sample 2
The Upper Tier REMIC. The beneficial ownership interest of the Upper Tier REMIC constituted by the Trust shall be evidenced by the Certificates (other than the RM and RL Classes). The Certificates (other than the A-R, RM and RL Classes) will be the Regular Interests in the Upper Tier REMIC constituted by the Trust. The A-R Class Certificate shall be issued as a single fully registered certificate either as part of a Combined Residual Certificate substantially in the form of Exhibit G hereto or as a Separate Residual Certificate substantially in the form of Exhibit H hereto. The A-R Class may be transferred and is otherwise subject to the provisions of Article V hereof.
Sample 1
The Upper Tier REMIC. As provided herein, the Trustee, at the direction of the Depositor, will make an election to treat the segregated pool of assets consisting of the Lower-Tier REMIC Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated the “Upper-Tier REMIC”. The Class UX-X-0, XX-X-0, XX-X-00, XX-X-X-0, UT-A-X-5, UT-A-X-6, UX-X-X-0, XX-X-0, XX-X-0, XX-X-0, XX-X-0, XX-X-0 and UT-B-6 Upper-Tier Interests referenced below each constitute regular interests in the Upper-Tier REMIC that correspond to the Certificates indicated in the chart below, and the UT-R Interest corresponds to the Class R Certificate and constitutes the sole Class of residual interest in the Upper-Tier REMIC. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each of the regular interests in the Upper-Tier REMIC will be the Latest Possible Maturity Date as defined herein. Designation Initial Certificate Principal Amount or Notional Amount Interest Rate Corresponding Classes of Certificates UT-A-6 $ 15,327,000 (1 ) Class A-0, Xxxxx X-0, Class A-0, Xxxxx X-0, Xxxxx X-0 XX-X-0 $ 160,183,000 (1 ) Class A-0, Xxxxx X-0, Class A-3, Class A-4, Class A-0, Xxxxx X-0, Xxxxx X-0 XX-X-00 $ 53,394,000 (1 ) Class A-0, Xxxxx X-0, Class A-3, Class A-4, Class A-7, Class A-10, Class A-11 UT-A-X-1 $ 228,904,000 (2) (3 ) Class A-X-1, Class A-X-2, Class A-7 UT-A-X-5 $ 15,327,000 (4) (5 ) Class A-X-2, Class A-X-3, Class A-X-5, Class A-1, Class A-5, Class A-7 UT-A-X-6 $ 160,183,000 (6) (5 ) Class A-X-2, Class A-X-3, Class A-X-4, Class A-X-6, Class A-1, Class A-3, Class A-7, Class A-8 UT-A-X-7 $ 53,394,000 (7) (5 ) Class A-X-2, Class A-X-3, Class A-X-4, Class A-X-7, Class A-1, Class A-3, Class A-0, Xxxxx X-00 XX-X-0 $ 8,041,000 (8 ) Class B-1 UT-B-2 $ 5,653,000 (8 ) Class B-2 UT-B-3 $ 4,146,000 (8 ) Class B-3 UT-B-4 $ 2,010,000 (8 ) Class B-4 UT-B-5 $ 1,257,000 (8 ) Class B-5 UT-B-6 $ 1,256,547 (8 ) Class B-0
Sample 1
The Upper Tier REMIC. Xxxxxx Xxx hereby elects to treat the Trust Fund, except for that portion which constitutes the Carryover Reserve Account and all amounts held therein or credited thereto, as a REMIC for federal income tax purposes.
Sample 1

Related to The Upper Tier REMIC

  • UPPER-TIER REMIC REMIC 4.

  • REMIC The Mortgage Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard to the rule in the U.S. Department of Treasury regulations (the “Treasury Regulations”) Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components, such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan (or related Whole Loan) was originated at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date, provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Section 1.860G-2(a)(1)(ii) of the Treasury Regulations). If the Mortgage Loan was “significantly modified” prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto. Any prepayment premium and yield maintenance charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Section 1.860G-1(b)(2) of the Treasury Regulations. All terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.

  • REMIC Election for REMIC II The Tax Matters Person shall, on behalf of REMIC II, elect to treat REMIC II as a REMIC within the meaning of Section 860D of the Code and, if necessary, under applicable state laws. Such election shall be included in the Form 1066 and any appropriate state return to be filed on behalf of REMIC II for its first taxable year. The Closing Date is hereby designated as the “startup day” of REMIC II within the meaning of Section 860G(a)(9) of the Code. The regular interests (as set forth in the table contained in the Preliminary Statement hereto) relating to REMIC II are hereby designated as “regular interests” in REMIC II for purposes of Section 860G(a)(1) of the Code. The Class R-2 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC II for purposes of Section 860G(a)(2) of the Code. The REMIC II Regular Interests and the Class R-2 Residual Interest shall together be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute. The parties intend that the affairs of REMIC II shall constitute, and that the affairs of REMIC II shall be conducted so as to qualify it as, a REMIC. In furtherance of such intention, the Tax Matters Person shall, on behalf of REMIC II: (a) prepare and file, or cause to be prepared and filed, a federal tax return using a calendar year as the taxable year for REMIC II when and as required by the REMIC provisions and other applicable federal income tax laws; (b) make an election, on behalf of REMIC II, to be treated as a REMIC on the federal tax return of REMIC II for its first taxable year, in accordance with the REMIC provisions; (c) prepare and forward, or cause to be prepared and forwarded, to the Certificateholders and the Holders of the Class R-2 Residual Interest all information reports as and when required to be provided to them in accordance with the REMIC provisions; (d) conduct the affairs of REMIC II at all times that any of the Certificates are outstanding so as to maintain the status of REMIC II as a REMIC under the REMIC provisions; (e) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of REMIC II; and (f) pay the amount of any federal prohibited transaction penalty taxes imposed on REMIC II when and as the same shall be due and payable (but such obligation shall not prevent the Company or any other appropriate person from contesting any such tax in appropriate proceedings and shall not prevent the Company from withholding payment of such tax, if permitted by law, pending the outcome of such proceedings); provided, that the Company shall be entitled to be indemnified from REMIC II for any such prohibited transaction penalty taxes if the Company’s failure to exercise reasonable care was not the primary cause of the imposition of such prohibited transaction penalty taxes.

  • REMIC I The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Group I Mortgage Loans and certain other related assets subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account and any rights or obligations in respect of the Swap Administration Agreement) as a REMIC (as defined herein) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I”. The Class I-R-1 Certificates will be the sole class of Residual Interests (as defined herein) in REMIC I for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interests (as defined herein). None of the REMIC I Regular Interests will be certificated. Designation Uncertificated REMIC I Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) I-1-A Variable(2) $ 1,093,659.04 September 25, 2036 I-1-B Variable(2) $ 1,093,659.04 September 25, 2036 I-2-A Variable(2) $ 1,380,302.56 September 25, 2036 I-2-B Variable(2) $ 1,380,302.56 September 25, 2036 I-3-A Variable(2) $ 1,665,750.76 September 25, 2036 I-3-B Variable(2) $ 1,665,750.76 September 25, 2036 I-4-A Variable(2) $ 1,947,494.94 September 25, 2036 I-4-B Variable(2) $ 1,947,494.94 September 25, 2036 I-5-A Variable(2) $ 2,222,929.79 September 25, 2036 I-5-B Variable(2) $ 2,222,929.79 September 25, 2036 I-6-A Variable(2) $ 2,489,383.09 September 25, 2036 I-6-B Variable(2) $ 2,489,383.09 September 25, 2036 I-7-A Variable(2) $ 2,744,149.03 September 25, 2036 I-7-B Variable(2) $ 2,744,149.03 September 25, 2036 I-8-A Variable(2) $ 2,974,438.68 September 25, 2036 I-8-B Variable(2) $ 2,974,438.68 September 25, 2036 I-9-A Variable(2) $ 3,187,097.36 September 25, 2036 I-9-B Variable(2) $ 3,187,097.36 September 25, 2036 I-10-A Variable(2) $ 3,297,419.05 September 25, 2036 I-10-B Variable(2) $ 3,297,419.05 September 25, 2036 I-11-A Variable(2) $ 3,155,673.33 September 25, 2036 I-11-B Variable(2) $ 3,155,673.33 September 25, 2036 I-12-A Variable(2) $ 3,012,167.42 September 25, 2036 I-12-B Variable(2) $ 3,012,167.42 September 25, 2036 I-13-A Variable(2) $ 2,875,253.91 September 25, 2036 I-13-B Variable(2) $ 2,875,253.91 September 25, 2036 I-14-A Variable(2) $ 2,744,627.80 September 25, 2036 I-14-B Variable(2) $ 2,744,627.80 September 25, 2036 I-15-A Variable(2) $ 2,619,998.35 September 25, 2036 I-15-B Variable(2) $ 2,619,998.35 September 25, 2036 I-16-A Variable(2) $ 2,501,088.25 September 25, 2036 I-16-B Variable(2) $ 2,501,088.25 September 25, 2036 I-17-A Variable(2) $ 2,387,633.09 September 25, 2036 I-17-B Variable(2) $ 2,387,633.09 September 25, 2036 I-18-A Variable(2) $ 2,279,380.79 September 25, 2036 I-18-B Variable(2) $ 2,279,380.79 September 25, 2036 I-19-A Variable(2) $ 2,176,090.92 September 25, 2036 I-19-B Variable(2) $ 2,176,090.92 September 25, 2036 I-20-A Variable(2) $ 2,077,792.42 September 25, 2036 I-20-B Variable(2) $ 2,077,792.42 September 25, 2036 I-21-A Variable(2) $ 1,983,740.00 September 25, 2036 I-21-B Variable(2) $ 1,983,740.00 September 25, 2036 I-22-A Variable(2) $ 1,893,369.67 September 25, 2036 I-22-B Variable(2) $ 1,893,369.67 September 25, 2036 I-23-A Variable(2) $ 1,803,569.09 September 25, 2036 I-23-B Variable(2) $ 1,803,569.09 September 25, 2036 I-24-A Variable(2) $ 1,722,266.22 September 25, 2036 I-24-B Variable(2) $ 1,722,266.22 September 25, 2036 I-25-A Variable(2) $ 1,644,673.14 September 25, 2036 I-25-B Variable(2) $ 1,644,673.14 September 25, 2036 I-26-A Variable(2) $ 1,570,582.96 September 25, 2036 I-26-B Variable(2) $ 1,570,582.96 September 25, 2036 I-27-A Variable(2) $ 1,499,906.52 September 25, 2036 I-27-B Variable(2) $ 1,499,906.52 September 25, 2036 I-28-A Variable(2) $ 1,432,452.79 September 25, 2036 I-28-B Variable(2) $ 1,432,452.79 September 25, 2036 I-29-A Variable(2) $ 1,368,032.84 September 25, 2036 I-29-B Variable(2) $ 1,368,032.84 September 25, 2036 I-30-A Variable(2) $ 1,306,586.45 September 25, 2036 I-30-B Variable(2) $ 1,306,586.45 September 25, 2036 I-31-A Variable(2) $ 1,247,936.47 September 25, 2036 I-31-B Variable(2) $ 1,247,936.47 September 25, 2036 I-32-A Variable(2) $ 1,191,949.20 September 25, 2036 I-32-B Variable(2) $ 1,191,949.20 September 25, 2036 I-33-A Variable(2) $ 1,138,513.08 September 25, 2036 I-33-B Variable(2) $ 1,138,513.08 September 25, 2036 I-34-A Variable(2) $ 1,087,397.57 September 25, 2036 I-34-B Variable(2) $ 1,087,397.57 September 25, 2036 I-35-A Variable(2) $ 1,038,650.20 September 25, 2036 I-35-B Variable(2) $ 1,038,650.20 September 25, 2036 I-36-A Variable(2) $ 992,185.48 September 25, 2036 I-36-B Variable(2) $ 992,185.48 September 25, 2036 I-37-A Variable(2) $ 947,829.12 September 25, 2036 I-37-B Variable(2) $ 947,829.12 September 25, 2036 I-38-A Variable(2) $ 905,484.47 September 25, 2036 I-38-B Variable(2) $ 905,484.47 September 25, 2036 I-39-A Variable(2) $ 865,059.32 September 25, 2036 I-39-B Variable(2) $ 865,059.32 September 25, 2036 I-40-A Variable(2) $ 826,458.40 September 25, 2036 I-40-B Variable(2) $ 826,458.40 September 25, 2036 I-41-A Variable(2) $ 789,613.20 September 25, 2036 I-41-B Variable(2) $ 789,613.20 September 25, 2036 I-42-A Variable(2) $ 754,435.65 September 25, 2036 I-42-B Variable(2) $ 754,435.65 September 25, 2036 I-43-A Variable(2) $ 720,849.45 September 25, 2036 I-43-B Variable(2) $ 720,849.45 September 25, 2036 I-44-A Variable(2) $ 688,781.79 September 25, 2036 I-44-B Variable(2) $ 688,781.79 September 25, 2036 I-45-A Variable(2) $ 658,163.24 September 25, 2036 I-45-B Variable(2) $ 658,163.24 September 25, 2036 I-46-A Variable(2) $ 628,927.57 September 25, 2036 I-46-B Variable(2) $ 628,927.57 September 25, 2036 I-47-A Variable(2) $ 601,011.57 September 25, 2036 I-47-B Variable(2) $ 601,011.57 September 25, 2036 I-48-A Variable(2) $ 10,190,521.39 September 25, 2036 I-48-B Variable(2) $ 10,190,521.39 September 25, 2036 I-49-A Variable(2) $ 96,029.84 September 25, 2036 I-49-B Variable(2) $ 96,029.84 September 25, 2036 I-50-A Variable(2) $ 93,024.89 September 25, 2036 I-50-B Variable(2) $ 93,024.89 September 25, 2036 I-51-A Variable(2) $ 90,113.56 September 25, 2036 I-51-B Variable(2) $ 90,113.56 September 25, 2036 I-52-A Variable(2) $ 87,292.93 September 25, 2036 I-52-B Variable(2) $ 87,292.93 September 25, 2036 I-53-A Variable(2) $ 84,560.21 September 25, 2036 I-53-B Variable(2) $ 84,560.21 September 25, 2036 I-54-A Variable(2) $ 81,912.63 September 25, 2036 I-54-B Variable(2) $ 81,912.63 September 25, 2036 I-55-A Variable(2) $ 79,347.57 September 25, 2036 I-55-B Variable(2) $ 79,347.57 September 25, 2036 I-56-A Variable(2) $ 76,862.47 September 25, 2036 I-56-B Variable(2) $ 76,862.47 September 25, 2036 I-57-A Variable(2) $ 74,454.83 September 25, 2036 I-57-B Variable(2) $ 74,454.83 September 25, 2036 I-58-A Variable(2) $ 72,122.26 September 25, 2036 I-58-B Variable(2) $ 72,122.26 September 25, 2036 I-59-A Variable(2) $ 69,894.25 September 25, 2036 I-59-B Variable(2) $ 69,894.25 September 25, 2036 I-60-A Variable(2) $ 2,144,578.05 September 25, 2036 I-60-B Variable(2) $ 2,144,578.05 September 25, 2036 P 0.00% $ 100.00 September 25, 2036 ___________________________

  • Regular Interests Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Swap Assets, (iii) the Excess Reserve Fund Account, and (iv) the right of the Offered Certificates to receive Upper-Tier CarryForward Amounts including, but without duplication, Basis Risk CarryForward Amounts and the obligation to pay Class IO Shortfalls). For federal income tax purposes, each Class of Offered Certificates represents a beneficial ownership of a regular interest in the Upper-Tier REMIC, the right to receive Upper-Tier CarryForward Amounts (including, but without duplication, Basis Risk CarryForward Amounts), and the obligation to pay Class IO Shortfalls; the Class X Certificates represent beneficial ownership of the Class X Interest, the Class IO Interest, the Interest Rate Swap Agreement, the Swap Account, the Excess Reserve Fund Account and the right to receive Class IO Shortfalls, subject to the obligation to pay Upper-Tier CarryForward Amounts (including, but without duplication, Basis Risk CarryForward Amounts); and the Class P Certificates represent beneficial ownership of the Prepayment Premiums, which portions of the Trust Fund shall be treated as a grantor trust. Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 shall issue the following interests in Pooling-Tier REMIC-1, and each such interest, other than the Class PT1-R Interest is hereby designated as a regular interest in the Pooling-Tier REMIC-1. Pooling-Tier REMIC-1 Interests with an "I" in their designation shall relate to Loan Group I and Pooling Tier REMIC-1 Interests with a "II" in their designation shall relate to Loan Group II. Pooling-Tier REMIC-1 shall also issue the Class PT1-R Interest, which is hereby designated as the sole class of residual interest in Pooling-Tier REMIC-1. The Class PT1-R Interest shall be represented by the Class R Certificates, shall not have a principal balance and shall have no interest rate. Pooling-Tier REMIC-1 Initial Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 Interest Interest Rate Principal Amount ------------------------------- -------------------- ---------------------------- Class PT1-I-1 (1) $ 21,923,060.51 Class PT1-I-2A (2) $ 18,231,751.88 Class PT1-I-2B (3) $ 18,231,751.88 Class PT1-I-3A (2) $ 9,887,132.83 Class PT1-I-3B (3) $ 9,887,132.83 Class PT1-I-4A (2) $ 9,509,304.53 Class PT1-I-4B (3) $ 9,509,304.53 Class PT1-I-5A (2) $ 9,151,924.20 Class PT1-I-5B (3) $ 9,151,924.20 Class PT1-I-6A (2) $ 8,825,694.08 Class PT1-I-6B (3) $ 8,825,694.08 Class PT1-I-7A (2) $ 8,514,431.73 Class PT1-I-7B (3) $ 8,514,431.73 Class PT1-I-8A (2) $ 8,217,071.19 Class PT1-I-8B (3) $ 8,217,071.19 Class PT1-I-9A (2) $ 7,932,590.08 Class PT1-I-9B (3) $ 7,932,590.08 Class PT1-I-10A (2) $ 7,659,994.40 Class PT1-I-10B (3) $ 7,659,994.40 Class PT1-I-11A (2) $ 7,398,361.27 Class PT1-I-11B (3) $ 7,398,361.27 Class PT1-I-12A (2) $ 7,146,337.06 Class PT1-I-12B (3) $ 7,146,337.06 Class PT1-I-13A (2) $ 6,898,858.70 Class PT1-I-13B (3) $ 6,898,858.70 Class PT1-I-14A (2) $ 6,633,819.24 Class PT1-I-14B (3) $ 6,633,819.24 Class PT1-I-15A (2) $ 6,345,967.13 Class PT1-I-15B (3) $ 6,345,967.13 Class PT1-I-16A (2) $ 6,070,663.81 Class PT1-I-16B (3) $ 6,070,663.81 Class PT1-I-17A (2) $ 5,807,359.92 Class PT1-I-17B (3) $ 5,807,359.92 Class PT1-I-18A (2) $ 5,555,530.44 Class PT1-I-18B (3) $ 5,555,530.44 Class PT1-I-19A (2) $ 6,235,599.52 Class PT1-I-19B (3) $ 6,235,599.52 Class PT1-I-20A (2) $ 10,040,675.50 Class PT1-I-20B (3) $ 10,040,675.50 Class PT1-I-21A (2) $ 42,420,379.95 Class PT1-I-21B (3) $ 42,420,379.95 Class PT1-I-22A (2) $ 43,204,615.47 Class PT1-I-22B (3) $ 43,204,615.47 Class PT1-I-23A (2) $ 768,011.88 Class PT1-I-23B (3) $ 768,011.88 Class PT1-I-24A (2) $ 740,433.97 Class PT1-I-24B (3) $ 740,433.97 Class PT1-I-25A (2) $ 713,848.40 Class PT1-I-25B (3) $ 713,848.40 Class PT1-I-26A (2) $ 688,221.81 Class PT1-I-26B (3) $ 688,221.81 Class PT1-I-27A (2) $ 663,524.86 Class PT1-I-27B (3) $ 663,524.86 Class PT1-I-28A (2) $ 639,787.25 Class PT1-I-28B (3) $ 639,787.25 Class PT1-I-29A (2) $ 616,874.73 Class PT1-I-29B (3) $ 616,874.73 Class PT1-I-30A (2) $ 594,726.08 Class PT1-I-30B (3) $ 594,726.08 Class PT1-I-31A (2) $ 656,575.22 Class PT1-I-31B (3) $ 656,575.22 Class PT1-I-32A (2) $ 633,022.04 Class PT1-I-32B (3) $ 633,022.04 Class PT1-I-33A (2) $ 2,245,127.40 Class PT1-I-33B (3) $ 2,245,127.40 Class PT1-I-34A (2) $ 701,127.82 Class PT1-I-34B (3) $ 701,127.82 Class PT1-I-35A (2) $ 402,567.07 Class PT1-I-35B (3) $ 402,567.07 Class PT1-I-36A (2) $ 388,953.75 Class PT1-I-36B (3) $ 388,953.75 Class PT1-I-37A (2) $ 375,792.64 Class PT1-I-37B (3) $ 375,792.64 Class PT1-I-38A (2) $ 363,069.29 Class PT1-I-38B (3) $ 363,069.29 Class PT1-I-39A (2) $ 350,769.18 Class PT1-I-39B (3) $ 350,769.18 Class PT1-I-40A (2) $ 338,882.33 Class PT1-I-40B (3) $ 338,882.33 Class PT1-I-41A (2) $ 327,387.60 Class PT1-I-41B (3) $ 327,387.60 Class PT1-I-42A (2) $ 316,276.08 Class PT1-I-42B (3) $ 316,276.08 Class PT1-I-43A (2) $ 305,535.34 Class PT1-I-43B (3) $ 305,535.34 Class PT1-I-44A (2) $ 295,153.38 Class PT1-I-44B (3) $ 295,153.38 Class PT1-I-45A (2) $ 285,118.35 Class PT1-I-45B (3) $ 285,118.35 Class PT1-I-46A (2) $ 275,419.77 Class PT1-I-46B (3) $ 275,419.77 Class PT1-I-47A (2) $ 266,044.90 Class PT1-I-47B (3) $ 266,044.90 Class PT1-I-48A (2) $ 256,984.00 Class PT1-I-48B (3) $ 256,984.00 Class PT1-I-49A (2) $ 248,226.78 Class PT1-I-49B (3) $ 248,226.78 Class PT1-I-50A (2) $ 239,763.26 Class PT1-I-50B (3) $ 239,763.26 Class PT1-I-51A (2) $ 231,583.78 Class PT1-I-51B (3) $ 231,583.78 Class PT1-I-52A (2) $ 223,679.01 Class PT1-I-52B (3) $ 223,679.01 Class PT1-I-53A (2) $ 216,039.90 Class PT1-I-53B (3) $ 216,039.90 Class PT1-I-54A (2) $ 208,657.65 Class PT1-I-54B (3) $ 208,657.65 Class PT1-I-55A (2) $ 5,811,478.80 Class PT1-I-55B (3) $ 5,811,478.80 Class PT1-II-1 (4) $ 68,750,924.69 Class PT1-II-2A (5) $ 57,174,945.97 Class PT1-II-2B (6) $ 57,174,945.97 Class PT1-II-3A (5) $ 31,006,141.87 Class PT1-II-3B (6) $ 31,006,141.87 Class PT1-II-4A (5) $ 29,821,268.77 Class PT1-II-4B (6) $ 29,821,268.77 Class PT1-II-5A (5) $ 28,700,520.65 Class PT1-II-5B (6) $ 28,700,520.65 Class PT1-II-6A (5) $ 27,677,459.92 Class PT1-II-6B (6) $ 27,677,459.92 Class PT1-II-7A (5) $ 26,701,338.27 Class PT1-II-7B (6) $ 26,701,338.27 Class PT1-II-8A (5) $ 25,768,812.81 Class PT1-II-8B (6) $ 25,768,812.81 Class PT1-II-9A (5) $ 24,876,677.37 Class PT1-II-9B (6) $ 24,876,677.37 Class PT1-II-10A (5) $ 24,021,814.75 Class PT1-II-10B (6) $ 24,021,814.75 Class PT1-II-11A (5) $ 23,201,330.78 Class PT1-II-11B (6) $ 23,201,330.78 Class PT1-II-12A (5) $ 22,410,980.49 Class PT1-II-12B (6) $ 22,410,980.49 Class PT1-II-13A (5) $ 21,634,886.00 Class PT1-II-13B (6) $ 21,634,886.00 Class PT1-II-14A (5) $ 20,803,719.76 Class PT1-II-14B (6) $ 20,803,719.76 Class PT1-II-15A (5) $ 19,901,012.82 Class PT1-II-15B (6) $ 19,901,012.82 Class PT1-II-16A (5) $ 19,037,658.99 Class PT1-II-16B (6) $ 19,037,658.99 Class PT1-II-17A (5) $ 18,211,935.53 Class PT1-II-17B (6) $ 18,211,935.53 Class PT1-II-18A (5) $ 17,422,195.91 Class PT1-II-18B (6) $ 17,422,195.91 Class PT1-II-19A (5) $ 19,554,898.93 Class PT1-II-19B (6) $ 19,554,898.93 Class PT1-II-20A (5) $ 31,487,653.15 Class PT1-II-20B (6) $ 31,487,653.15 Class PT1-II-21A (5) $ 133,030,711.90 Class PT1-II-21B (6) $ 133,030,711.90 Class PT1-II-22A (5) $ 135,490,081.88 Class PT1-II-22B (6) $ 135,490,081.88 Class PT1-II-23A (5) $ 2,408,492.52 Class PT1-II-23B (6) $ 2,408,492.52 Class PT1-II-24A (5) $ 2,322,007.93 Class PT1-II-24B (6) $ 2,322,007.93 Class PT1-II-25A (5) $ 2,238,635.30 Class PT1-II-25B (6) $ 2,238,635.30 Class PT1-II-26A (5) $ 2,158,270.09 Class PT1-II-26B (6) $ 2,158,270.09 Class PT1-II-27A (5) $ 2,080,820.24 Class PT1-II-27B (6) $ 2,080,820.24 Class PT1-II-28A (5) $ 2,006,378.85 Class PT1-II-28B (6) $ 2,006,378.85 Class PT1-II-29A (5) $ 1,934,524.97 Class PT1-II-29B (6) $ 1,934,524.97 Class PT1-II-30A (5) $ 1,865,066.62 Class PT1-II-30B (6) $ 1,865,066.62 Class PT1-II-31A (5) $ 2,059,026.08 Class PT1-II-31B (6) $ 2,059,026.08 Class PT1-II-32A (5) $ 1,985,163.11 Class PT1-II-32B (6) $ 1,985,163.11 Class PT1-II-33A (5) $ 7,040,740.70 Class PT1-II-33B (6) $ 7,040,740.70 Class PT1-II-34A (5) $ 2,198,743.48 Class PT1-II-34B (6) $ 2,198,743.48 Class PT1-II-35A (5) $ 1,262,454.13 Class PT1-II-35B (6) $ 1,262,454.13 Class PT1-II-36A (5) $ 1,219,762.65 Class PT1-II-36B (6) $ 1,219,762.65 Class PT1-II-37A (5) $ 1,178,489.26 Class PT1-II-37B (6) $ 1,178,489.26 Class PT1-II-38A (5) $ 1,138,588.71 Class PT1-II-38B (6) $ 1,138,588.71 Class PT1-II-39A (5) $ 1,100,015.47 Class PT1-II-39B (6) $ 1,100,015.47 Class PT1-II-40A (5) $ 1,062,738.17 Class PT1-II-40B (6) $ 1,062,738.17 Class PT1-II-41A (5) $ 1,026,690.60 Class PT1-II-41B (6) $ 1,026,690.60 Class PT1-II-42A (5) $ 991,844.77 Class PT1-II-42B (6) $ 991,844.77 Class PT1-II-43A (5) $ 958,161.71 Class PT1-II-43B (6) $ 958,161.71 Class PT1-II-44A (5) $ 925,603.77 Class PT1-II-44B (6) $ 925,603.77 Class PT1-II-45A (5) $ 894,133.85 Class PT1-II-45B (6) $ 894,133.85 Class PT1-II-46A (5) $ 863,718.98 Class PT1-II-46B (6) $ 863,718.98 Class PT1-II-47A (5) $ 834,319.30 Class PT1-II-47B (6) $ 834,319.30 Class PT1-II-48A (5) $ 805,904.25 Class PT1-II-48B (6) $ 805,904.25 Class PT1-II-49A (5) $ 778,441.52 Class PT1-II-49B (6) $ 778,441.52 Class PT1-II-50A (5) $ 751,899.84 Class PT1-II-50B (6) $ 751,899.84 Class PT1-II-51A (5) $ 726,248.92 Class PT1-II-51B (6) $ 726,248.92 Class PT1-II-52A (5) $ 701,459.49 Class PT1-II-52B (6) $ 701,459.49 Class PT1-II-53A (5) $ 677,503.15 Class PT1-II-53B (6) $ 677,503.15 Class PT1-II-54A (5) $ 654,352.35 Class PT1-II-54B (6) $ 654,352.35 Class PT1-II-55A (5) $ 18,224,852.35 Class PT1-II-55B (6) $ 18,224,852.35 Class PT1-R (7) (7) ----------------------

  • REMIC Election for REMIC I The Tax Matters Person, shall, on behalf of REMIC I, elect to treat REMIC I as a REMIC within the meaning of Section 860D of the Code and, if necessary, under applicable state laws. Such election shall be included in the Form 1066 and any appropriate state return to be filed on behalf of REMIC I for its first taxable year. The Closing Date is hereby designated as the “startup day” of REMIC I within the meaning of Section 860G(a)(9) of the Code. The regular interests (as set forth in the table contained in the Preliminary Statement hereto) relating to REMIC I are hereby designated as “regular interests” in REMIC I for purposes of Section 860G(a)(1) of the Code. The Class R-1 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC I for purposes of Section 860G(a)(2) of the Code. The REMIC I Regular Interests and the Class R-1 Residual Interest shall together be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute. The parties intend that the affairs of REMIC I shall constitute, and that the affairs of REMIC I shall be conducted so as to qualify REMIC I as a REMIC. In furtherance of such intention, the Tax Matters Person shall, on behalf of REMIC I: (a) prepare and file, or cause to be prepared and filed, a federal tax return using a calendar year as the taxable year and using an accrual method of accounting for REMIC I when and as required by the REMIC Provisions and other applicable federal income tax laws; (b) make an election, on behalf of the trust, for REMIC I to be treated as a REMIC on the federal tax return of REMIC I for its first taxable year, in accordance with the REMIC Provisions; (c) prepare and forward, or cause to be prepared and forwarded, to the Holders of the REMIC I Regular Interests and the Class R-1 Residual Interest and the Trustee, all information reports as and when required to be provided to them in accordance with the REMIC Provisions, and make available the information necessary for the application of Section 860E(e) of the Code; (d) conduct the affairs of REMIC I at all times that any REMIC I Regular Interests are outstanding so as to maintain the status of REMIC I as a REMIC under the REMIC Provisions; (e) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of REMIC I; and (f) pay the amount of any federal prohibited transaction penalty taxes imposed on REMIC I when and as the same shall be due and payable (but such obligation shall not prevent the Company or any other appropriate person from contesting any such tax in appropriate proceedings and shall not prevent the Company from withholding payment of such tax, if permitted by law, pending the outcome of such proceedings); provided, that the Company shall be entitled to be indemnified by REMIC I for any such prohibited transaction penalty taxes if the Company’s failure to exercise reasonable care was not the primary cause of the imposition of such prohibited transaction penalty taxes. The Trustee and the Master Servicer shall promptly provide the Company with such information in the possession of the Trustee or the Master Servicer, respectively, as the Company may from time to time request for the purpose of enabling the Company to prepare tax returns. In the event that a Mortgage Loan is discovered to have a defect which, had such defect been discovered before the startup day, would have prevented such Mortgage Loan from being a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, and the Company does not repurchase such Mortgage Loan within 90 days of such date, the Master Servicer, on behalf of the Trustee, shall within 90 days of the date such defect is discovered sell such Mortgage Loan at such price as the Master Servicer in its sole discretion, determines to be the greatest price that will result in the purchase thereof within 90 days of such date, unless the Master Servicer delivers to the Trustee an Opinion of Counsel to the effect that continuing to hold such Mortgage Loan will not adversely affect the status of the electing portion of REMIC I as a REMIC for federal income tax purposes.

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