Common use of TIER REMIC Clause in Contracts

TIER REMIC. The Lower-Tier REMIC will hold the Mortgage Loans (exclusive of any Excess Interest) and will issue (i) 15 classes of uncertificated Lower-Tier Regular Interests (designated as the Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-AB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG, Class LH, Class XX-XX and Class XX-XX Lower-Tier Regular Interests, respectively), each of which will constitute a class of “regular interests” in the Lower-Tier REMIC, and (ii) the Lower-Tier Residual Interest, which will be the sole class of “residual interests” in the Lower-Tier REMIC and will be evidenced by the Class R Certificates. The following table sets forth the per annum rate at which interest will accrue on, and the original Lower-Tier Principal Balance of, each Lower-Tier Regular Interest: Class LA-1 (1 ) $ 24,868,162 Class LA-2 (1 ) $ 44,674,590 Class LA-3 (1 ) $ 88,310,236 Class LA-4 (1 ) $ 591,802,214 Class LA-AB (1 ) $ 47,747,786 Class LA-S (1 ) $ 72,620,104 Class LB (1 ) $ 52,685,887 Class LC (1 ) $ 55,533,632 Class LD (1 ) $ 35,598,375 Class LE (1 ) $ 29,902,885 Class LF (1 ) $ 15,663,119 Class LG (1 ) $ 14,238,727 Class LH (1 ) $ 12,815,374 Class XX-XX (1 ) $ 18,511,903 Class XX-XX (1 ) $ 34,174,575

TIER REMIC. The Lower-Tier REMIC will hold the Mortgage Loans (exclusive of any Excess Interest) and will issue (i) 15 classes of uncertificated Lower-Tier Regular Interests (designated as the Class XX-0, Xxxxx XX-0LA1, Class LA-3LA2, Class LA-4LA3A1, Class LA-ABLA3A2, Class LA-SLA4A1, Class LA4A2, Class LA5, Class LASB, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG, Class LH, Class XX-XX LG and Class XX-XX LNR Uncertificated Interests (the “Uncertificated Lower-Tier Regular Interests, respectively”), each of which will constitute a class of evidence the “regular interests” in the Lower-Tier REMIC, and (ii) the REMIC created hereunder. The Lower-Tier Residual REMIC will also issue the uncertificated Class LR Interest, which will be is the sole class Class of “residual interestsinterest” in the Lower-Tier REMIC and will be evidenced is represented by the Class R Certificates. The following table sets forth the per annum rate at which interest will accrue on, and the original Original Lower-Tier Principal Balance of, each Amounts and per annum rates of interest for the Uncertificated Lower-Tier Regular Interests and the Class LR Interest: Class LA-1 LA1 (1 1) $ 24,868,162 $33,437,000 Class LA-2 LA2 (1 1) $ 44,674,590 $106,744,000 Class LA-3 LA3A1 (1 1) $ 88,310,236 $73,542,000 Class LA-4 LA3A2 (1 1) $ 591,802,214 $73,542,000 Class LA-AB LA4A1 (1 1) $ 47,747,786 $55,000,000 Class LA-S LA4A2 (1 1) $ 72,620,104 $55,000,000 Class LA5 (1) $161,532,000 Class LASB (1) $55,809,000 Class LAS (1) $37,315,000 Class LB (1 1) $ 52,685,887 $69,143,000 Class LC (1 1) $ 55,533,632 $35,121,000 Class LD (1 1) $ 35,598,375 $55,973,000 Class LE (1 1) $ 29,902,885 $12,072,000 Class LF (1 1) $ 15,663,119 $9,878,000 Class LG (1 1) $ 14,238,727 $9,878,000 Class LH LNR (1 1) $ 12,815,374 $34,022,421 Class XX-XX (1 LR None(2) $ 18,511,903 Class XX-XX (1 ) $ 34,174,575None