Common use of et seq Clause in Contracts

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 --------------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss▇▇▇. Act Loan ▇▇.▇▇. 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable ------------------ -------------------------------------------- ------------------------- Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---- -------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable ------------------ -------------------------------------------- ------------------------- Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---- -------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. -- --- Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan ▇▇.▇▇. 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) --------------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati--------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] SWAP CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] SWAP CONTRACT ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [FORM OF] SWAP CONTRACT ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile ____________________________, as Trustee for _____________________________ _____________________________ Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule: 1. A Principal Prepayment in full or in part was received during the related Prepayment Period;

et seq. Standard & Poor's High Cost Loan Categorization ----------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law ----------------------------------------------------------------------------------------------------------------------------------- Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections of Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ----------------------------------------------------------------------------------------------------------------------------------- South Carolina South Carolina High Cost and Consumer Home Loans Act, High Cost Home Loan S.C. Code Ann. ss.ss. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, Broker and West Virginia Mortgage Loan Broker and Act Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Loa▇ Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ----------------------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's High Covered Loan Categorization -------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇-▇▇an -▇ ▇▇▇▇ - Mar. 6, 2003▇▇ed Loan ▇▇03) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, N.J. Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:-----------------------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ------------------ ------------------ --------------------- Effective July 1, 2000; amended effective January 1, 2004 South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. Sections 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. Sections Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Sections Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. Sections 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ------------------ ------------------ --------------------- STANDARD & POOR'S HOME LOAN CATEGORIZATION Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Sections Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:▇

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, ered Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ 20▇▇ - Mar. 6, 2003▇▇e Loan ▇▇▇3) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [RESERVED] EXHIBIT S-2 [RESERVED] EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Nati▇▇▇▇ AssociationSeries 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 52, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 12003 -------------------------------------------------------------------------------- Colorado Consumer Equity Protection, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇Covered Loan Colo.Stat. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered 5-3.5-101 et seq. Effective for covered loans offered or entered into on or after January 1, 2003. Other provisions of the Act took effect on June 7, 2002 -------------------------------------------------------------------------------- Connecticut Connecticut Abusive Home Loan High Cost Home Loan Lending Practices Act, Conn. Gen. Stat. ▇▇an .▇▇. 36a-746 et seq. Effective October 1, 2001 -------------------------------------------------------------------------------- Exhibit A-1 -------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Law/Effective Date Applicable Anti-Predatory Lending Law -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- District of Columbia Home Loan Protection Act, D.C. Covered Loan Code ▇▇.▇▇. 26-1151.01 et seq. Effective for loans closed on or after January 28, 2003 -------------------------------------------------------------------------------- Florida Fair Lending Act, Fla. Stat. ▇▇▇▇ . High Cost Home Loan ▇▇.▇▇. 494.0078 et seq. Effective October 2, 2002 -------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair Lending Act, Ga. High Cost Home Loan - Mar. 6, 2003) Code ▇▇▇. ▇▇.▇▇. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002-------------------------------------------------------------------------------- Georgia as amended Georgia Fair Lending Act, Covered Ga. High Cost Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27(Mar. 7, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. current) Effective for loans closed on or after March 7, 2003 -------------------------------------------------------------------------------- HOEPA Section 32 Home Ownership and Equity High Cost Loan Protection Act of 1994, 15 U.S.C. ss. 1639, 12 C.F.R. ▇▇.▇▇. 226.32 and 226.34 Effective October 1, 1995, amendments October 1, 2002 - March 6-------------------------------------------------------------------------------- Illinois High Risk Home Loan Act, 2003 --------------------- ------------------------------------------------- -------------------------------- Ill. High Risk Home Loan Comp. Stat. tit. 815, ▇▇.▇▇. 137/5 et seq. Effective January 1, 2004 (prior to this date, regulations under Residential Mortgage License Act effective from May 14, 2001) -------------------------------------------------------------------------------- Indiana Indiana Home Loan Practices Act, High Cost Home Loans Ind. Code ▇▇▇. ▇▇.▇▇. 24-9-1-1 et seq. Effective January 1, 2005; amended by 2005 HB 1179, effective July 1, 2005 -------------------------------------------------------------------------------- Kansas Consumer Credit Code, Kan. Stat. High Loan to Value ▇▇▇. ▇▇.▇▇. 16a-1-101 et seq. Consumer Loan (id. ss. 16a-3-207) and; Sections 16a-1-301 and 16a-3-207 High APR Consumer became effective April 14, 1999; Loan (id. ss. Section 16a-3-308a became 16a-3-308a) effective July 1, 1999 -------------------------------------------------------------------------------- Exhibit A-2 -------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Kentucky 2003 KY H.B.287 - High Cost Home Ownership Security Act of 2002, High Cost Home Loan N.J. Loan Act, Ky. Rev. Stat. ss.ss. 46:10B-22 et se▇▇.▇▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 360.100 et seq. Effective as of January 1June 24, 2004; Revised as of February 262003 -------------------------------------------------------------------------------- Maine Truth in Lending, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Me. Rev. Stat. ss.ssHigh Rate High Fee tit. 249-1.1E A, ▇▇.▇▇. 8-101 et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Mortgage

et seq. Effective May Effecti▇▇ ▇▇y 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇Lending Act, Ga. Code C▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇▇) Ann. ▇▇.▇▇ss.ss. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October Ef▇▇▇ti▇▇ ▇▇tober 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et seseq. Effec▇. Effective ▇▇▇ November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. 7-6A-1 H▇▇▇▇ ▇▇▇▇ ▇▇▇, ▇▇. ) et ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et seseq. Effe▇. Effective ▇▇▇▇ for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 5858-▇▇▇-21A-1 ▇ et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇ec▇▇▇▇ Associationfor loans taken on or after January 1, 2004 ---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-2 [Reserved] EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- N-3 STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ----------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- NAME OF ANTI-PREDATORY CATEGORY UNDER APPLICABLE STATE/JURISDICTION LENDING LAW/EFFECTIVE DATE ANTI-PREDATORY LENDING LAW ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seqET SEQ. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State--------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- NAME OF ANTI-PREDATORY CATEGORY UNDER APPLICABLE STATE/Jurisdiction Name of AntiJURISDICTION LENDING LAW/EFFECTIVE DATE ANTI-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- PREDATORY LENDING LAW ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇Le▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇ered Loa▇ ▇003) ss.ss. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seET SE▇. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State--------------------------------------------- ----------------------------------------------------------------------------------------------------------------------- NAME OF ANTI-PREDATORY CATEGORY UNDER APPLICABLE STATE/Jurisdiction Name of AntiJURISDICTION LENDING LAW/EFFECTIVE DATE ANTI-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- PREDATORY LENDING LAW ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇Le▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇e Loan 2▇▇▇) ss.ss. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seET SE▇. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF OFFERED CERTIFICATES Offered Certificates S&P ▇▇▇▇▇’▇ DBRS Class A-1 AAA Aaa AAA Class A-2 AAA Aaa AAA Class A-3 AAA Aaa AAA Class B-1 AA Aa1 AA Class B-2 A Aa3 A Class B-3 BBB A3 BBB Class ▇-▇ ▇▇▇- ▇▇▇▇ ▇▇▇ The Class B-IO, Class XP, Class R and Class R-X Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that ▇▇▇▇▇ Fargo Bank, National Association, a banking corporation, having a place of business at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, as Trustee for (and in no personal or other representative capacity) under the Holders Pooling and Servicing Agreement, dated as of February 1, 2007, by and among Structured Asset Mortgage Investments II Inc., the Nomura Asset Acceptance CorporationTrustee and EMC Mortgage Corporation (as amended, Alternative Loan Trustrestated, supplemented or otherwise modified from time to time, the “Agreement”; capitalized terms not defined herein have the definitions assigned to such terms in the Agreement), relating to the Bear ▇▇▇▇▇▇▇ Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 20042007-AP3AR2, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee’s true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the “Mortgage Documents”). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Loan Act Loan 31-17-1 et seqET SEQ. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State--------------------------------------------- --------------------------------------------------------------------------------------------------------------------- STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING CATEGORY UNDER APPLICABLE LAW/Effective Date AntiEFFECTIVE DATE ANTI-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- PREDATORY LENDING LAW --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇ET SEQ. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State------------------------------------------ --------------------------------------------------------------------------------------------------------------------- STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING LAW/Effective Date AntiEFFECTIVE CATEGORY UNDER APPLICABLE DATE ANTI-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- PREDATORY LENDING LAW --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇ET SEQ. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seqET SEQ. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seqET SEQ. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------------------------------------------------------------------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ----------------------------------------------- Public Notes ------------

et seq. Effective ▇▇▇ective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken on or after af▇▇▇ January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 -- Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Covered Loan 2003) ▇-▇▇▇▇▇▇-▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - -- March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - -- July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 -- Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Home Loan 2003) ▇-▇▇▇▇▇▇-▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - -- March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or af▇▇▇ January 1, 2004 issued to: ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------------- ------------- --------------------- Offered Certificates S&P Moody's ------------------------------------- ------------- --------------------- Class I-A-1 AAA Aaa ------------------------------------- ------------- --------------------- Class I-A-2A AAA Aaa ------------------------------------- ------------- --------------------- Grantor Trust Class I-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Underlying Class I-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Class I-A-3 AAA Aaa ------------------------------------- ------------- --------------------- Class I-X AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-1 AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-2A AAA Aaa ------------------------------------- ------------- --------------------- Underlying Class II-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Grantor Trust Class II-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-3 AAA Aaa ------------------------------------- ------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------------- ------------- --------------------- Class I-B-2 AA Aa1 ------------------------------------- ------------- --------------------- Class I-B-3 AA- Aa2 ------------------------------------- ------------- --------------------- Class I-B-4 A+ Aa3 ------------------------------------- ------------- --------------------- Class I-B-5 A A2 ------------------------------------- ------------- --------------------- Class I-B-6 BBB Baa2 ------------------------------------- ------------- --------------------- Class I-B-7 BBB- Baa3 ------------------------------------- ------------- --------------------- Class I-B-8 BBB A3 ------------------------------------- ------------- --------------------- Class I-B-9 BBB- Baa2 ------------------------------------- ------------- --------------------- Class II-B-1 AA Aa1 ------------------------------------- ------------- --------------------- Class II-B-2 A Aa2 ------------------------------------- ------------- --------------------- Class II-B-3 BBB A1 ------------------------------------- ------------- --------------------- Class II-B-4 BBB- A3 ------------------------------------- ------------- --------------------- The Class I-XP-1, Class I-XP-2, Class II-XP, Class I-R, Class II-R, Class I-B-IO and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that Wells Fargo Bank, NatiNational Association, a banking corporation, having a place of ▇▇▇▇ness at 9062 Old Annapolis Road, Columbia, Maryland, as Trustee (and in no personal or o▇▇▇▇ Association▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ng and Servicing Agreement, dated as of October 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Trustee for and EMC Mortgage Corporation (as amended, restated, supplemented or otherwise modified from time to time, the Holders of "Agreement"; capitalized terms not defined herein have the Nomura Asset Acceptance Corporationdefinitions assigned to such terms in the Agreement), Alternative Loan Trustrelating to the Bear Stearns Mortgage Funding Trust 2006-AR3, Mortgage Pass-Through Certificates, Series 2004200▇-AP3▇▇▇, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee's true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee's name, place and stead and for the Trustee's benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the "Mortgage Documents"). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ------------------------------------------------------------------------------------------------------------ Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ------------------------------------------------------------------------------------------------------------ O-4 Standard & POOR'S HIGH COST LOAN CATEGORIZATION Poor's High Cost Loan Categorization ----------------------------------------------- ------------------------------------------------------------------------------------------------------------ Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Predatory Lending Law ------------------ --------------------- ------------------------------------------------------------------------------------------------------------ Effective June 5, 2002 Standard & Poor's Covered Loan Categorization --------------------------------------------- ------------------------------------------------------------------------------------------------------------ Category under -------------- State/Jurisdiction Name of Anti-Predatory Lending Applicable Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B- 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ------------------------------------------------------------------------------------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION Poor's Home Loan Categorization ------------------------------------------ ------------------------------------------------------------------------------------------------------------ Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 ------------------------------------------------------------------------------------------------------------ O-5 Standard & Poor's Home Loan Categorization ------------------------------------------ ------------------------------------------------------------------------------------------------------------ Category under -------------- State/Jurisdiction Name of Anti-Predatory Lending Applicable Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------ North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) ------------------------------------------------------------------------------------------------------------ Effective for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank------------------------------------------------------------------------------------------------------------ EXHIBIT P [FORM OF] SUPPLEMENTAL TRANSFER AGREEMENT THIS SUPPLEMENTAL TRANSFER AGREEMENT, Nati▇▇▇▇ Associationdated as of ____________, 200_ (this "Supplemental Transfer Agreement"), among CWALT, INC., a Delaware corporation, as Trustee for depositor (the Holders of the Nomura Asset Acceptance Corporation"Depositor"), Alternative Loan TrustCOUNTRYWIDE HOME LOANS, Mortgage Pass-Through CertificatesINC. ("CHL"), Series 2004-AP3a New York corporation, Class A-4as a seller (a "Seller"), A-5A PARK GRANADA LLC ("Park Granada"), a Delaware limited liability company, as a seller (a "Seller"), PARK MONACO INC. ("Park Monaco"), a Delaware limited liability corporation, as a seller (a "Seller"), PARK SIENNA LLC ("Park Sienna"), a Delaware limited liability company, as a seller (a "Seller" and Class A-6 For all purposes of this Policytogether with CHL, Park Granada and Park Monaco, the following terms shall have "Sellers") under the following meanings:Pooling and Servicing Agreement referred to below, and THE BANK OF NEW YORK, a New York banking corporation, as trustee (the "Trustee");

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for Effect▇▇▇ ▇or loans taken closed on or after January 128, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer 2003 ---------------------------------------------------------------------------------------------------------------------- Florida Fair Lending Act, W. Va. Code Fla. Stat. Ann. ss.ss. Act High Cost Home Loan 31-17-1 494.0078 et seq. Effective June 5October 2, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Ga. Code High Cost Home Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October Effec▇▇▇e ▇▇▇▇▇er 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002---------------------------------------------------------------------------------------------------------------------- Georgia as amended Georgia Fair Lending Act, Covered Ga. Code High Cost Home Loan N.J. Rev. Stat(Mar. 7, 2003 - current) Ann. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective Effec▇▇▇e ▇▇▇ ▇oans closed on or after March 7, 2003 ---------------------------------------------------------------------------------------------------------------------- HOEPA Section 32 Home Ownership and Equity Protection High Cost Loan Act of 1994, 15 U.S.C. ss. 1639, 12 C.F.R. ss.ss. 226.32 and 226.34 Effecti▇▇ ▇▇tober 1, 1995, amendments October 1, 2002 - March 6---------------------------------------------------------------------------------------------------------------------- Illinois High Risk Home Loan Act, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Ill. Comp. High Risk Home Loan Stat. tit. 815, ss.ss. 137/5 et seq. Effective ▇▇▇▇▇ry 1, 2004 (prior to this date, regulations under Residential Mortgage License Act effective from May 14, 2001) ---------------------------------------------------------------------------------------------------------------------- Indiana Indiana Home Loan Practices Act, Ind. Code Ann. High Cost Home Loans ss.ss. ▇4-9-1-1 et seq. Effectiv▇ ▇▇▇uary 1, 2005; amended by 2005 HB 1179, effective July 1, 2005 ---------------------------------------------------------------------------------------------------------------------- Exhibit B-2 ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey ---------------------------------------------------------------------------------------------------------------------- Kansas Consumer Credit Code, Kan. Stat. Ann. High Loan to Value Consumer ss.ss. 16a-1-101 et seq. Loan (id. ss. ▇▇▇-▇-207) and; Sections 16a-1-301 and 16a-3-207 became --------------------------------- effective April 14, 1999; Section 16a-3-308a High APR Consumer Loan (id. ss. became effective July 1, 1999 16a-3-308a) ---------------------------------------------------------------------------------------------------------------------- Kentucky 2003 KY H.B. 287 - High Cost Home Ownership Security Act of 2002, High Cost Home Loan N.J. Loan Act, Ky. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 360.100 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association24, as Trustee for the Holders of the Nomura Asset Acceptance Corporation2003 ---------------------------------------------------------------------------------------------------------------------- Maine Truth in Lending, Alternative Loan TrustMe. Rev. Stat. tit. 9- High Rate High Fee Mortgage A, Mortgage Passss.ss. 8-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:101 et seq.

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, ered Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ----------------------------------------------------------------------------------------------------------------------- O-4 ----------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ 20▇▇ - Mar. 6, 2003▇▇e Loan ▇▇▇3) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank----------------------------------------------------------------------------------------------------------------------- EXHIBIT P [FORM OF] SUPPLEMENTAL TRANSFER AGREEMENT THIS SUPPLEMENTAL TRANSFER AGREEMENT, Nati▇▇▇▇ Associationdated as of ____________, 200_ (this "Supplemental Transfer Agreement"), among CWALT, INC., a Delaware corporation, as Trustee for depositor (the Holders of the Nomura Asset Acceptance Corporation"Depositor"), Alternative Loan TrustCOUNTRYWIDE HOME LOANS, Mortgage Pass-Through CertificatesINC. ("CHL"), Series 2004-AP3a New York corporation, Class A-4as a seller (a "Seller"), A-5A PARK GRANADA LLC ("Park Granada"), a Delaware limited liability company, as a seller (a "Seller"), PARK MONACO INC. ("Park Monaco"), a Delaware limited liability corporation, as a seller (a "Seller"), PARK SIENNA LLC ("Park Sienna"), a Delaware limited liability company, as a seller (a "Seller" and Class A-6 For all purposes of this Policytogether with CHL, Park Granada and Park Monaco, the following terms shall have "Sellers") under the following meanings:Pooling and Servicing Agreement referred to below, and THE BANK OF NEW YORK, a New York banking corporation, as trustee (the "Trustee");

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code Covered Loan 2003) ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 Home Loan 2003) et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [RESERVED] EXHIBIT S-1 [RESERVED] ▇▇▇▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass▇-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:▇ [RESERVED] EXHIBIT T [RESERVED]

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Standard & Poor's High Cost Loan Categorization --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. ▇▇.▇▇. 37-23-10 et seq. -- --- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. -- --- Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. -- --- Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD O-4 ---------------------------------- ------------------------------------------------- -------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. -- --- Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. -- --- Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to -- --- Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code ▇▇▇. ▇▇.▇▇. 37-23-10 et seq. -- --- Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to---------------------------------- ------------------------------------------------- -------------------------------- O-5 EXHIBIT P [Reserved] EXHIBIT Q MONTHLY REPORT [On file with Trustee] EXHIBIT R-1 FORM OF PERFORMANCE CERTIFICATION (Subservicer) Re: Wells Fargo BankThe Pooling and Servicing Agreement dated as of [________] (the "Pooling and Servicing Agreement") among CWALT, NatiInc., as Depositor, Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer, the undersigned, as Trustee and [Subservicing Agreement] dated as of [ ] (the "Agreement") I, ________________________________, the _______________________ of [NAME OF COMPANY] (the "Company"), certify to the Depositor and the Master Servicer, and their officers, with the knowledge and intent that they will rely upon this certification, that: (1) I have reviewed the servicer compliance statement of the Company provided in accordance with Item 1123 of Regulation AB (the "Compliance Statement"), the report on assessment of the Company's compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the "Servicing Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange Act") and Item 1122 of Regulation AB (the "Servicing Assessment"), the registered public accounting firm's attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the "Attestation Report"), all servicing reports, officer's certificates and other information relating to the servicing of the Mortgage Loans by the Company during 200[ ] that were delivered by the Company to the Depositor, the Master Servicer or the Trustee pursuant to the Agreement (collectively, the "Company Servicing Information"); (2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information; (3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the Depositor, the Master Servicer or the Trustee, as applicable; (4) I am responsible for reviewing the activities performed by the Company as a servicer under the Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement in all material respects; and (5) The Compliance Statement required to be delivered by the Company pursuant to the Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Company and by any Subservicer or Subcontractor pursuant to the Agreement, have been provided to the Master Servicer. Any material instances of noncompliance described in such reports have been disclosed to the Master Servicer. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. Date: _________________________ By: ________________________________ Name: Title: ▇▇▇▇▇▇▇ Association▇-▇ FORM OF PERFORMANCE CERTIFICATION (Trustee) Re: The Pooling and Servicing Agreement dated as of [________], (the "Pooling and Servicing Agreement") among CWALT, Inc., as Depositor, Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer, the undersigned, as Trustee I, ________________________________, the _______________________ of [NAME OF COMPANY] (the "Company"), certify to the Depositor and the Master Servicer, and their officers, with the knowledge and intent that they will rely upon this certification, that: (1) I have reviewed the report on assessment of the Company's compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the "Servicing Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the "Exchange Act") and Item 1122 of Regulation AB (the "Servicing Assessment"), the registered public accounting firm's attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the "Attestation Report"), [all reports on Form 10-D containing statements to certificateholders filed in respect of the period included in the year covered by the annual report of the Trust Fund] (collectively, the "Distribution Date Statements"); (2) Assuming the accuracy and completeness of the information delivered to the Company by the Master Servicer as provided in the Pooling and Servicing Agreement and subject to paragraph (4) below, the distribution information determined by the Company and set forth in the Distribution Date Statements contained in all Form 10-D's included in the year covered by the annual report of such Trust on Form 10-K for the Holders calendar year 200[ ], is complete and does not contain any material misstatement of fact as of the Nomura Asset Acceptance Corporationlast day of the period covered by such annual report; (3) Based solely on the information delivered to the Company by the Master Servicer as provided in the Pooling and Servicing Agreement, Alternative Loan Trust(i) the distribution information required under the Pooling and Servicing Agreement to be contained in the Trust Fund's Distribution Date Statements and (ii) the servicing information required to be provided by the Master Servicer to the trustee for inclusion in the Trust Fund's Distribution Date Statements, Mortgage Passto the extent received by the Trustee from the Master Servicer in accordance with the Pooling and Servicing Agreement, is included in such Distribution Date Statements; (4) The Company is not certifying as to the accuracy, completeness or correctness of the information which it received from the Master Servicer and did not independently verify or confirm the accuracy, completeness or correctness of the information provided by the Master Servicer; (5) I am responsible for reviewing the activities performed by the Company as a person "performing a servicing function" under the Pooling and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the Servicing Assessment and except as disclosed in the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Pooling and Servicing Agreement; and (6) The Servicing Assessment and Attestation Report required to be provided by the Company and by Subcontractor pursuant to the Pooling and Servicing Agreement, have been provided to the Master Servicer and the Depositor. Any material instances of noncompliance described in such reports have been disclosed to the Master Servicer and the Depositor. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports. Date: _________________________ By: ________________________________ Name: Title: EXHIBIT S [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": (i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. --------------------- ---------------------- If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance 1122(d)(1)(ii) with such servicing activities. --------------------- ---------------------- Any requirements in the transaction agreements to maintain 1122(d)(1)(iii) a back-Through Certificatesup servicer for the mortgage loans are maintained. --------------------- ---------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with 1122(d)(1)(iv) the terms of the transaction agreements. --------------------- ---------------------- Cash Collection and Administration --------------------- ---------------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Series 2004-AP3or such other number of 1122(d)(2)(i) days specified in the transaction agreements. --------------------- ---------------------- Disbursements made via wire transfer on behalf of an 1122(d)(2)(ii) obligor or to an investor are made only by authorized personnel. --------------------- ---------------------- Advances of funds or guarantees regarding collections, Class A-4cash flows or distributions, A-5A and Class A-6 any interest or other fees charged for such advances, are made, reviewed and 1122(d)(2)(iii) approved as specified in the transaction agreements. --------------------- ---------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the 1122(d)(2)(iv) transaction agreements. --------------------- ---------------------- Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For all purposes of this Policycriterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the following terms shall have the following meanings:requirements of 1122(d)(2)

et seq. Effective Effect▇▇▇ May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Rhode Island Rhode Island Home Loan Protection Act, R.I. High Cost Home Loan Gen. Lawsss.ss.34-25.2-1 et seq. Effective December 31, 2006. ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann.ss.ss.37-23-10 et seq. Effective for loans taken on or after Ja▇▇▇ry 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Tennessee Tennessee Home Loan Protection Act, Tenn. Code High Cost Home Loan Ann.ss.ss.45-20-101 et seq. Effective January 1, 2004 --------------------- 2007. ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ssAnn.ss.ss. Act Loan 31-17-1 et seq. Effective ▇▇fective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:CATEGORIZATION

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇Lending Act, Ga. ▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, red Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. Ga. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ ▇▇▇▇ 20Loan 2▇▇ - Mar. 6, 2003▇▇) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [RESERVED] EXHIBIT S-1 [RESERVED] EXHIBIT S-2 [RESERVED] EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Nati▇▇▇▇ AssociationSeries 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWMBS, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------- --------------------------------------- ---------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------- --------------------------------------- ---------------------- West Virginia West Virginia Residential Mortgage West Virginia Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Mortgage Loan Act Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Loa▇ Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------- --------------------------------------- ---------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------- -------------------------------------------- ---------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------- -------------------------------------------- ---------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ------------------------------------------- ------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan 2002, N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------- ------------------------------------------- ------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization --------------------------- --------------------------------------------- ---------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------- --------------------------------------------- ---------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇Ga. Code Ann. Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 ▇▇:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan ss.ss. 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------- -------------------------------------------- ------------------------ EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [RESERVED] [RESERVED] EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Nati▇▇▇▇ AssociationSeries 200_-__ [Date] Via Facsimile ____________________, as Trustee for _______________ _______________________ Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------------------------------------------- South Carolina South Carolina High Cost and High Cost Home Loan Consumer Home Loans Act, S.C. Code Ann. ss.ss. 37-23-▇▇ e▇ ▇▇▇. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, Loan Act Loan W. Va. Code Ann. ss.ss. Act Loan 31-17-1 17-▇ et seq▇▇▇. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- Georgia (Oct. Oct 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ 2002 - Mar. Mar 6, 2003) Georgia Fair Lending Act, Ga. Code Covered Loan Ann. ss.ss. 7-6A-1 et seq6A-▇ ▇t ▇▇▇. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- Georgia (Oct. Oct 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. Mar 6, 2003) Georgia Fair Lending Act, Ga. Code Home Loan Ann. ss.ss. 7-6A-1 et seq6A-▇ ▇t ▇▇▇. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Home Loan Rev. Stat. ss.ss. Home Loan 58-21A-1 et seqe▇ ▇▇▇. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Act Loan Ann. ss.ss. Act Loan 31-17-1 et seq17-▇ ▇T ▇▇▇. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State---------------------------------- ------------------------------------------------- -------------------------------- STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING CATEGORY UNDER APPLICABLE LAW/Effective Date AntiEFFECTIVE DATE ANTI-Predatory Lending Law --------------------- PREDATORY LENDING LAW ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Cov▇▇▇d ▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seE▇ ▇▇▇. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State---------------------------------- ------------------------------------------------- -------------------------------- STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING CATEGORY UNDER APPLICABLE LAW/Effective Date AntiEFFECTIVE DATE ANTI-Predatory Lending Law --------------------- PREDATORY LENDING LAW ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇Lending Act, Ga. Code Ann. ss.ss. Hom▇ ▇▇▇, ▇▇. ▇▇▇oa▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seqET SEQ. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seE▇ ▇▇▇. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seqET SEQ. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, NatiET ▇▇▇▇ Association. Effective July 1, as Trustee 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- Effective for the Holders loans taken on or after January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES PUBLIC CERTIFICATES Class S&P Moody's --------------- ------- ------- Class I-A-1 AAA Aaa Class II-A-1 AAA Aaa Class II-A-2 AAA Aaa Class II-A-3 AAA Aaa Class II-X-1 AAA Aaa Class III-A-1 AAA Aaa Class IV-A-1 AAA Aaa Class R-I AAA -- Class R-II AAA -- Class R-III AAA -- Class B-1 AA+ Aa1 Class B-2 AA+ Aa2 Class B-3 AA Aa3 Class B-4 AA A1 Class B-5 AA- A2 Class B-6 A+ A3 Class B-7 A Baa1 Class B-8 A- Baa2 Class B-9 BBB -- None of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes above ratings has been lowered since the respective dates of this Policy, the following terms shall have the following meanings:such letters.

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. ss.ss. 37-23-10 et seq. -- --- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇▇ - Mar. 6, 2003Loan 2▇▇▇) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇▇▇ 20▇▇ - Mar. 6, ▇an 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of AntiIndiana Indiana Home Loan Practices Act, Ind. Code Ann. Home Loan ss.ss. 24-Predatory Category under Applicable Lending Law/9-1-1 et seq. Effective Date Anti-Predatory Lending Law --------------------- for loans originated on or after January 1, 2005. ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:2003

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 --------------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- O-4 Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's High Cost Loan Categorization ----------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Predatory Lending Law ------------------ --------------------- --------------------------------------------------------------------------------------------------------------------- Effective June 5, 2002 --------------------------------------------------------------------------------------------------------------------- Standard & Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Lending Applicable Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B- 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B- 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:---------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24March 22, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia 2001 and amended from time to time ---------------------------------------------------------------------------------------------------------------------- Massachusetts Predatory Home Loan Practices Act High Cost Home Mortgage Loan Broker and Servicer ActMass. Gen. Laws ch. 183C, W. Va. Code Ann▇▇.▇▇. ss.ss. Act Loan 31-17-1 et seq. Effective June 5November 7, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇2004 ---------------------------------------------------------------------------------------------------------------------- Nevada Assembly ▇▇▇▇ ▇▇▇No. 284, ▇▇. ▇▇▇▇ ▇▇▇Nev. Rev. Stat. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 Home Loan 598D.010 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered High Cost Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 46:10B-22 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss▇▇.▇▇. High Cost Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New York N.Y. Banking Law Article 6-l High Cost Home Loan Effective for applications made on or after April 1, 2003 ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer High Cost Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ---------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage PassAnti-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Predatory Lending Law ----------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------- South Carolina South Carolina High Cost and High Cost Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- West Virginia West Virginia Residential West Virginia Mortgage Lender, West Virginia Broker and Mortgage Loan Broker and Act Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. Act §§ Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD -------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Anti-Predatory Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Covered ▇▇an ▇▇▇▇ Loan - Mar. 6, 2003) Code ▇▇▇. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Covered Home Loan Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD -------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Anti-Predatory Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Home Lo▇▇ 20▇▇ Loan - Mar. 6, 2003) Code ▇▇▇. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Home Loan Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Home Loan Rev. Stat. ss.ss. Home Loan §§ 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) -------------------------------------------------------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati-------------------------------------------------------------------------------- Certificates S&P Moodys Class I-1A-1 AAA Aaa Class I-1A-2 AAA Aaa Class I-2A-1 AAA Aaa Class I-2A-2 AAA Aaa Class I-2A-3 AAA Aaa Class II-1A-1 AAA Aaa Class II-2A-1 AAA Aaa Class II-2A-2 AAA Aaa Class II-3A-1 AAA Aaa Class II-4A-1 AAA Aaa Class II-5A-1 AAA Aaa Class II-6A-1 AAA Aaa Class I-M-1 AA Aa2 Class I-M-2 A A2 Class I-B-1 BBB Baa2 Class I-B-2 BBB- Baa3 Class I-B-3 BB Ba2 Class II-B-1 AA+ Aa1 Class II-B-2 AA Aa2 Class II-B-3 AA Aa3 Class II-B-4 AA- A1 Class II-B-5 A+ A2 Class ▇▇-▇-▇ ▇ ▇▇ ▇▇▇▇▇ ▇▇-▇-▇ ▇- ▇▇▇▇ Class II-B-8 BBB+ Baa2 Class II-B-9 BBB Baa3 Class II-B-10 BB NA Class II-B-11 B NA -------------------------------------------------------------------------------------------- The Class XP, Class B-IO, Class R, Class R-X and Class II-B-12 Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT L Pursuant to this Subsequent Transfer Instrument, dated September 30, 2005 (this "Instrument"), between Structured Asset Mortgage Investments II Inc., as seller (the "Seller"), and JPMorgan Chase Bank, National Association, as Trustee for the Holders trustee of the Nomura Asset Acceptance Corporation, Alternative Loan Bear ▇▇▇▇▇▇▇ ALT-A Trust, Mortgage Pass-Through Certificates, Series 20042005-AP39, Class A-4as purchaser (the "Trustee"), A-5A and Class A-6 For all purposes pursuant to the Pooling and Servicing Agreement, dated as of this PolicySeptember 1, 2005 (the "Pooling and Servicing Agreement"), among the Seller, as the seller, ▇▇▇▇▇ Fargo Bank, National Association, as master servicer and securities administrator, EMC Mortgage Corporation and the Trustee, as trustee, the following Seller and the Trustee agree to the sale by the Seller and the purchase by the Trustee in trust, on behalf of the Trust, of the Subsequent Mortgage Loans listed on the Schedule of Mortgage Loans attached to this Instrument as Exhibit 1 hereto (the "Subsequent Mortgage Loans"). Capitalized terms used but not otherwise defined herein shall have the following meanings:meanings set forth in the Pooling and Servicing Agreement.

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, ered Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ 20▇▇ - Mar. 6, 2003▇▇e Loan ▇▇▇3) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] SWAP CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] SWAP CONTRACT ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [▇▇▇▇ ▇▇] ▇▇▇▇ ▇ONTRACT ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24March 22, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia 2001 and amended from time to time --------------------------------------------------------------------------------------------------------------- Massachusetts Predatory Home Loan Practices Act High Cost Home Mortgage Loan Broker and Servicer ActMass. Gen. Laws ch. 183C, W. Va. Code Ann▇▇.▇▇. ss.ss. Act Loan 31-17-1 et seq. Effective June 5November 7, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇2004 --------------------------------------------------------------------------------------------------------------- Nevada Assembly ▇▇▇▇ ▇▇▇No. 284, ▇▇. ▇▇▇▇ ▇▇▇Nev. Rev. Stat. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 Home Loan 598D.010 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered High Cost Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 46:10B-22 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss▇▇.▇▇. High Cost Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New York N.Y. Banking Law Article 6-l High Cost Home Loan Effective for applications made on or after April 1, 2003 --------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer High Cost Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) --------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION --------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage PassAnti-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Predatory Lending Law ---------------------------------------------------------------------------------------------------------------

et seq. Effective May 24June 2, 2002 2003 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Colorado Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Equity Protection, Colo. Stat. Ann. Covered Loan ss.ss. 5-3.5-101 et s▇▇. Effective for loans taken covered ▇▇▇▇s offered or entered into on or after January 1, 2004 2003. Other provisions of the Act took effect on June 7, 2002 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Connecticut Connecticut Abusive Home Loan Broker and Servicer Lending Practices High Cost Home Loan Act, W. Va. Conn. Gen. Stat. ss.ss. 36a-746 et seq. Effective October 1, 20▇▇ --------------------- ------------------------------------------------- -------------------------------- District of Columbia Home Loan Protection Act, D.C. Covered Loan Code ss.ss. 26-1151.01 et seq. Effective for loans ▇▇▇▇▇d on or after January 28, 2003 --------------------- ------------------------------------------------- -------------------------------- Florida Fair Lending Act, Fla. Stat. Ann. ss.ss. High Cost Home Loan 494.00▇▇ et ▇▇▇. Effective October 2, 2002 --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Act Loan 31High Cost ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ - ▇▇▇. ▇, ▇▇▇▇) ▇-17-1 ▇▇-1 et seqse▇. Effective June 5October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- Georgia as amended Georgia Fair Lending Act, Ga. Code High Cost Home Loan --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. Mar. 7, 2003 Ann. ss.ss. 7-6A-1 et seq. - current) Effective for loan▇ ▇lo▇▇▇ ▇n or after March 7, 2003 --------------------- ------------------------------------------------- -------------------------------- HOEPA Section 32 Home Ownership and Equity Protection Act of High Cost Loan 1994, 15 U.S.C. ss. 1639, 12 C.F.R. ss.ss. 226.32 and 226.34 ▇▇fective October 1, Georgia Fair 1995, amendments October 1, 2002 --------------------- ------------------------------------------------- -------------------------------- Illinois High Risk Home Loan Act, Ill. Comp. Stat. tit. High Risk Home Loan 815, ss.ss. 137/5 et seq. Effective January 1, 200▇ (▇rior to this date, regulations under Residential Mortgage License Act effective from May 14, 2001) --------------------- ------------------------------------------------- -------------------------------- Indiana Indiana Home Loan Practices Act, Ind. Code Ann. High Cost Home Loan ss.ss. 24-9-1-1 et ▇▇q. Effective for loans or▇▇▇▇▇ted on or after January 1, 2005. --------------------- ------------------------------------------------- -------------------------------- Kansas Consumer Credit Code, Kan. Stat. Ann. ss.ss. High Loan to Value Consumer ▇6a-▇-▇▇▇ et seq. Loan (id. ss. 16a-3-207) and; --------------------------------- Sections 16a-1-301 and 16a-3-207 became High APR Consumer Loan (id. ss. effective April 14, 1999; Section 16a-3-308a 16a-3-308a) became effective July 1, 1999 --------------------- ------------------------------------------------- -------------------------------- Kentucky 2003 KY H.B. 287 - High Cost Home Loan Act, Ky. High Cost Home Loan ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 .100 et seq. Effective October 1, 2002 - March 6June 24, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002Maine Truth in Lending, Covered Home Loan N.J. Me. Rev. Stat. tit. 9-A, ss.ss. 46:10B-22 High Rate High Fee Mortgage 8-101 et ses▇▇. Effective September 29, 1995 and as amended from time to time --------------------- ------------------------------------------------- -------------------------------- Massachusetts Part 40 and Part 32, 209 C.M.R. ss.ss. 32.00 et High Cost Home Loan seq. and ▇▇▇ C.M.R. ss.ss. 40.01 et seq. Effective March 22, 2001 ▇▇▇ amended from time to time --------------------- ------------------------------------------------- -------------------------------- Massachusetts Predatory Home Loan Practices Act High Cost Home Mortgage Loan Mass. Gen. Laws ch. 183C, ss.ss. 1 et seq. Effective November 27, 2003 - July 57, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1Nevada Assembly Bill No. 284, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Nev. Rev. Stat. ss.ss. Home Loan 58-21A-1 598D.010 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------- South Carolina South Carolina High Cost and High Cost Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- West Virginia West Virginia Residential West Virginia Mortgage Lender, West Virginia Broker and Mortgage Loan Broker and Act Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. Act §§ Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD -------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Anti-Predatory Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Covered ▇▇an ▇▇▇▇ Loan - Mar. 6, 2003) Code ▇▇▇. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Covered Home Loan Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD -------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization -------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Anti-Predatory Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Home Lo▇▇ 20▇▇ Loan - Mar. 6, 2003) Code ▇▇▇. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Home Loan Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Home Loan Rev. Stat. ss.ss. Home Loan §§ 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) -------------------------------------------------------------------------------- South Carolina South Carolina High Cost and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30Consumer Home Loan Consumer Home Loans Act, 2004 issued to: Wells Fargo Bank, NatiS.C. Code ▇▇▇▇ Association. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:2004 --------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ----------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan Lo▇▇ 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered Cover▇▇an ▇ Loa▇ ▇▇▇▇ - Mar. 6, 20033) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇▇▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003▇n 2▇▇▇) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:---------------------------------------------------------------------------------------------------------------------

et seq. O-3 Standard & Poor's High Cost Loan Categorization ----------------------------------------------- ---------------------- -------------------------------------------------------------- ------------------------------- Name of Anti-Predatory Lending Category under Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ---------------------- -------------------------------------------------------------- ------------------------------- ss.ss. 1349.25 et seq. -- --- Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ----------------------- ----------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections of Title Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------- -------------------------------------------------------------- ------------------------------- South Carolina South Carolina High Cost and Consumer Home Loans Act, S.C. High Cost Home Loan Code Ann. ss.ss. 37-23-10 et seq. -- --- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------- ----------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, Broker and Servicer West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Act Loan -- --- Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------- -------------------------------------------------------------- ------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization --------------------------------------------- ---------------------- -------------------------------------------------------------- ------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------- -------------------------------------------------------------- ------------------------------- Georgia (Oct. 1, 2002 Georgia Fair Lending Act, Ga. Code ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ - ▇▇▇. ▇▇.▇▇. Covered ▇▇an , ▇▇▇▇ - Mar. 6, 2003▇) Ann. ss.ss. 7-6A-1 et seq. Effective October Octob▇▇ 1, 2002 ▇▇▇▇ - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------- -------------------------------------------------------------- ------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, N.J. Rev. Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:---------------------- -------------------------------------------------------------- -------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ West Virginia West Virginia Residential Mortgage West Virginia Lender, West Virginia Mortgage Loan Broker and Servicer Act, Mortgage Loan Act W. Va. Code Ann. ss.ss. Act Loan 31-17-1 Loan et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ------------------------------------------------------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 Georgia Fair Lending Act, Ga. ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ - ▇▇▇. ▇▇.▇▇. Covered ▇▇an , ▇▇▇▇ - Mar. 6, 20033) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:1▇▇ ▇▇ et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ------------------------------------------------------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇Lending Act, Ga. ▇▇▇▇ ▇▇▇, ▇▇. ▇ ▇▇▇▇ - ▇▇▇. ▇▇., ▇▇▇▇) Ann. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:1▇▇ ▇▇ et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------ North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati------------------------------------------------------------------------------ EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [▇▇▇▇ ▇▇] ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile ________________________, as Trustee for _______________ _________________________ Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. ss.ss. 37-23-10 et seq. -- --- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. Act Loan ss.ss. Act Loan 31-17-1 et seq. -- --- Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. Ga. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇▇ - Mar. 6, 2003Loan 20▇▇) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. -- --- Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Q-4 Standard & Poor's Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. Ga. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇▇▇ 20▇▇ - Mar. 6, ▇▇n 2003) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. -- --- Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. -- --- Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to -- --- Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code Ann. ss.ss. 37-23-10 et seq. -- --- Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------- ------------------------------------------------- -------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [▇▇▇▇ ▇▇] ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [Reserved] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as Trustee below as "Applicable Servicing Criteria": ------------------------------------------------------------------------------------------ ---------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- (i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. --------------------- ---------------------- If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance 1122(d)(1)(ii) with such servicing activities. --------------------- ---------------------- Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the Holders mortgage loans are maintained. --------------------- ---------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with 1122(d)(1)(iv) the terms of the Nomura Asset Acceptance Corporationtransaction agreements. --------------------- ---------------------- Cash Collection and Administration --------------------- ---------------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes or such other number of this Policy, 1122(d)(2)(i) days specified in the following terms shall have the following meanings:transaction agreements. --------------------- ---------------------- Disbursements made via wire transfer on behalf of an obligor or to 1122(d)(2)(ii) an investor are made only by --------------------- ---------------------- W-1 Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- authorized personnel. --------------------- ----------------------

et seq. Effective Effecti▇▇ May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer High Cost Home Loan Home Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken on or after January Jan▇▇▇y 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Mortgage Loan Act Loan Ann. ss.ss. Act Loan §§ 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. Georgia Fair Lending Act, Ga. Code Covered Loan 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ 2002 - Mar. 6, 2003) Ann. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. Georgia Fair Lending Act, Ga. Code Home Loan 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. 6, 2003) Ann. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Effective Date of Endorsement: part of Policy NoConsumer Consumer Home Loan Home Loans Act, S.C. Code Ann. AB0824BE November 30§§ 37-23-10 et seq. Effect▇▇▇ for loans taken on or after January 1, 2004 issued to: ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- ----------------- --------------------- Offered Certificates S&P Moody’s ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-1 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-2 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-3 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-X AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-A-1 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-A-2 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-2 AA Aa1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-3 AA- Aa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-4 A+ Aa3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-5 A A2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-6 BBB Baa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-7 BBB- Baa3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-8 BBB A3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-9 BBB- Baa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-1 AA Aa1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-2 A Aa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-3 BBB A1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-4 BBB- A3 ------------------------------- ----------------- --------------------- The Class I-XP, Class II-XP, Class I-R, Class II-R, Class I-B-IO and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that Wells Fargo Bank, NatiNational Association, a banking corporation, having a place of busines▇ ▇▇ 9062 Old Annapolis Road, Columbia, Maryland, as Trustee (and in no personal or other repr▇▇▇▇▇▇▇▇▇▇ Association▇▇▇▇▇▇▇▇) ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇rvicing Agreement, dated as of September 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Trustee for and EMC Mortgage Corporation (as amended, restated, supplemented or otherwise modified from time to time, the Holders of “Agreement”; capitalized terms not defined herein have the Nomura Asset Acceptance Corporationdefinitions assigned to such terms in the Agreement), Alternative Loan Trustrelating to the Bear Stearns Mortgage Funding Trust 2006-AR2, Mortgage Pass-Through Certificates, Series 20042006-▇▇▇, ▇▇reby appoints _______________, in its capacity as Servicer under the Agreement, as the Trustee’s true and lawful Special Attorney-AP3in-Fact, Class A-4in the Trustee’s name, A-5A place and Class A-6 For stead and for the Trustee’s benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the “Mortgage Documents”). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May M▇▇ 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer High Cost Home Loan Home Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Mortgage Loan Act Loan Ann. ss.ss. Act Loan §§ 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. Georgia Fair Lending Act, Ga. Code Covered Loan 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ 2002 - Mar. 6, 2003) Ann. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. Georgia Fair Lending Act, Ga. Code Home Loan 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. 6, 2003) Ann. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Consumer Home Loan Home Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30▇▇▇ loans taken on or after January 1, 2004 issued to: ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- ----------------- --------------------- Offered Certificates S&P Moody’s ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-1 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-2 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-A-3 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-X AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-A-1 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-A-2 AAA Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-2 AA Aa1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-3 AA- Aa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-4 A+ Aa3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-5 A A2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-6 BBB Baa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-7 BBB- Baa3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-8 BBB A3 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class I-B-9 BBB- Baa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-1 AA Aa1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-2 A Aa2 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-3 BBB A1 ------------------------------- ----------------- --------------------- ------------------------------- ----------------- --------------------- Class II-B-4 BBB- A3 ------------------------------- ----------------- --------------------- The Class I-XP, Class II-XP, Class I-R, Class II-R, Class I-B-IO and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that Wells Fargo Bank, NatiNational Association, a banking corporation, having a place of business at ▇▇▇▇ AssociationOld Annapolis Road, Columbia, Maryland, as Trustee for (and in no personal or other represen▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ing Agreement, dated as of September 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Holders of Trustee and EMC Mortgage Corporation (as amended, restated, supplemented or otherwise modified from time to time, the Nomura Asset Acceptance Corporation“Agreement”; capitalized terms not defined herein have the definitions assigned to such terms in the Agreement), Alternative Loan Trustrelating to the Bear Stearns Mortgage Funding Trust 2006-AR2, Mortgage Pass-Through Certificates, Series 20042006-AP3AR2, Class A-4▇▇▇▇▇▇ appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee’s true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the “Mortgage Documents”). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------------------------------- South Carolina South Carolina High Cost and Consumer High Cost Home Loan Home Loans Act, S.C. Code -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law -------------------------------------------------------------------------------------------------------- Ann. Sections 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage West Virginia Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Mortgage Loan Act Code Ann. ss.ss. Act Loan Sections 31-17-1 et seq. Loan Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. ▇▇▇▇ ▇▇▇. ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) Sections 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act Covered Home Loan of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. Sections 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇Lending Act, Ga. ▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇ ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) Sections 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HOME LOAN CATEGORIZATION Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law -------------------------------------------------------------------------------------------------------- Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. Sections 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss. Home Loan Sections 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ss. Sections 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:-------------------------------------------------------------------------------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF NOTES Public Notes

et seq. Effective May ▇▇y 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken on or after January Janua▇▇ 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 -- Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Covered Loan 2003) ▇-▇▇▇▇▇▇-▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - -- March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - -- July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 -- Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Home Loan 2003) 7-6▇▇▇▇▇▇-▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - -- March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after Janua▇▇ 1, 2004 issued to: ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------------- ------------- --------------------- Offered Certificates S&P Moody's ------------------------------------- ------------- --------------------- Class I-A-1 AAA Aaa ------------------------------------- ------------- --------------------- Class I-A-2A AAA Aaa ------------------------------------- ------------- --------------------- Grantor Trust Class I-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Underlying Class I-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Class I-A-3 AAA Aaa ------------------------------------- ------------- --------------------- Class I-X AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-1 AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-2A AAA Aaa ------------------------------------- ------------- --------------------- Underlying Class II-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Grantor Trust Class II-A-2B AAA Aaa ------------------------------------- ------------- --------------------- Class II-A-3 AAA Aaa ------------------------------------- ------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------------- ------------- --------------------- Class I-B-2 AA Aa1 ------------------------------------- ------------- --------------------- Class I-B-3 AA- Aa2 ------------------------------------- ------------- --------------------- Class I-B-4 A+ Aa3 ------------------------------------- ------------- --------------------- Class I-B-5 A A2 ------------------------------------- ------------- --------------------- Class I-B-6 BBB Baa2 ------------------------------------- ------------- --------------------- Class I-B-7 BBB- Baa3 ------------------------------------- ------------- --------------------- Class I-B-8 BBB A3 ------------------------------------- ------------- --------------------- Class I-B-9 BBB- Baa2 ------------------------------------- ------------- --------------------- Class II-B-1 AA Aa1 ------------------------------------- ------------- --------------------- Class II-B-2 A Aa2 ------------------------------------- ------------- --------------------- Class II-B-3 BBB A1 ------------------------------------- ------------- --------------------- Class II-B-4 BBB- A3 ------------------------------------- ------------- --------------------- The Class I-XP-1, Class I-XP-2, Class II-XP, Class I-R, Class II-R, Class I-B-IO and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that Wells Fargo Bank, NatiNational Association, a banking corporation, having a place of business ▇▇ ▇062 Old Annapolis Road, Columbia, Maryland, as Trustee (and in no personal or other rep▇▇▇▇▇▇▇▇▇▇▇ Association▇▇▇▇▇▇▇▇) ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇rvicing Agreement, dated as of October 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Trustee for and EMC Mortgage Corporation (as amended, restated, supplemented or otherwise modified from time to time, the Holders of "Agreement"; capitalized terms not defined herein have the Nomura Asset Acceptance Corporationdefinitions assigned to such terms in the Agreement), Alternative Loan Trustrelating to the Bear Stearns Mortgage Funding Trust 2006-AR3, Mortgage Pass-Through Certificates, Series 20042006-AP3AR3, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee's true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee's name, place and stead and for the Trustee's benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the "Mortgage Documents"). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ▇▇▇▇ ------------------------------------------------------------------------------------ Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective for loans taken fo▇ ▇oa▇▇ ▇▇ken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ West Virginia West Virginia Residential Mortgage West Virginia Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Mortgage Loan Act Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Loan Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ------------------------------------------------------------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization ------------------------------------------------ ------------------------------------------------------------------------------------ Category under Applicable Anti- Name of Anti-Predatory Category under Applicable Lending Predatory Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 Georgia Fair Lending Act, Ga. Code Covered Loa▇ - ▇▇▇. ▇, ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ) ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) s. 7-6A-1 et seq. Effective October Octo▇▇▇ 1, 2002 ▇▇▇2 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27Novembe▇ ▇▇, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ------------------------------------------------------------------------------------ Category under Applicable Anti- Name of Anti-Predatory Category under Applicable Lending Predatory Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ Georgia (Oct. 1, 2002 Georgia Fair Lending Act, Ga. Code Home Loa▇ - ▇▇▇. ▇, ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ) ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) s. 7-6A-1 et seq. Effective October Octo▇▇▇ 1, 2002 ▇▇▇2 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January J▇▇▇▇▇y 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------ North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30fo▇ ▇oa▇▇ ▇▇ken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------------------------------------------------------- EXHIBIT R [RESERVED] EXHIBIT S-1 [RESERVED] EXHIBIT S-2 [RESERVED] EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Nati▇▇▇▇ AssociationSeries 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective ▇▇▇▇ctive May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. ss.ss. 37-23-10 et seq. Effective for loans taken on loa▇▇ ta▇▇▇ ▇n or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇Lending Act, Ga. Code Ann. ss.ss. Covered Lo▇▇ ▇▇▇, ▇▇. ▇▇▇▇ - ▇▇▇. ▇▇.▇▇. Covered ▇▇an , ▇▇▇▇) ▇-▇▇-▇ - Mar. 6, 2003) 7-6A-1 et seq▇▇ ▇eq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 ▇▇▇3 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization --------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending ------------------------------ -------------- State/Jurisdiction Law/Effective Date Anti-Applicable Anti- ------------------ ------------------ ---------------- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Covered Loan Mar. 6, 2003) ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 46:10B- 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ------------------------------------------ ---------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending ------------------------------ -------------- State/Jurisdiction Law/Effective Date Anti-Applicable Anti- ------------------ ------------------ ---------------- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Home Loan Mar. 6, 2003) ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 46:10B- 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) ---------------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] SWAP CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] SWAP CONTRACT ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [FORM OF] SWAP CONTRACT ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile __________________, as Trustee for _______________ _______________________ Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule: 1. A Principal Prepayment in full or in part was received during the related Prepayment Period;

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code ▇▇▇. §§ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization --------------------------------------------------------------------------------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code ▇▇▇. §§ ▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------

et seq. Exh 2-4 Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------- ------------------------------------- ---------------------------- South Carolina South Carolina High Cost and High Cost Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. ▇▇.▇▇. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- STANDARD & POOR'S HIGH COST ----------------- COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ --------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- Georgia (Oct. Oct 1, 2002 - Mar 6, 2003) Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Covered Loan ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- STANDARD & POOR'S HIGH COST ----------------- HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ------------------------ Exh 2-5 State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- Georgia (Oct. Oct 1, 2002 - Mar 6, 2003) Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Home Loan ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-------------------------------------------------- ------------------------------------- ---------------------------- Indiana Indiana Home Loan Practices Act, Home Loan Ind. Code ▇▇▇. ▇▇.▇▇. 24-Predatory Category under Applicable Lending Law/9-1-1 ET SEQ. Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- for loans originated on or after January 1, 2005. -------------------------------------------------- ------------------------------------- ---------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------- ------------------------------------- ---------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) -------------------------------------------------- ------------------------------------- ---------------------------- South Carolina South Carolina High Cost and Consumer Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. ▇▇.▇▇. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 -------------------------------------------------- ------------------------------------- ---------------------------- Exh 2-6 EXHIBIT O Q CERTIFICATE GUARANTY INSURANCE POLICY Ambac Ambac Assurance Corporation ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Telephone: (▇▇▇) ▇▇▇ ▇▇▇▇ CERTIFICATE GUARANTY INSURANCE POLICY Insured Obligations: Policy Number: Homestar Mortgage Acceptance Corp. AB0826BE Asset-Backed Pass-Through Certificates, Series 2004-6, Class A-3B Premium: As specified in the endorsement attached hereto. AMBAC ASSURANCE CORPORATION (AMBAC), a Wisconsin stock insurance corporation, in consideration of the payment of the premium and subject to the terms of this Policy, hereby agrees unconditionally and irrevocably to pay to the Trustee for the benefit of the Holders of the Insured Obligations, that portion of the Insured Amounts which shall become Due for Payment but shall be unpaid by reason of Nonpayment. Ambac will make such payments to the Trustee from its own funds on the later of (a) one (1) Business Day following notification to Ambac of Nonpayment or (b) the Business Day on which the Insured Amounts are Due for Payment. Such payments of principal or interest shall be made only upon presentation of an instrument of assignment in form and substance satisfactory to Ambac, transferring to Ambac all rights under such insured Obligations to receive the principal of and Interest on the Insured Obligation. Ambac shall be subrogated to all the Holders' rights to payment on the Insured Obligations to the extent of the insurance disbursements so made. Once payments of the Insured Amounts have been made to the Trustee, Ambac shall have no further obligation hereunder in respect of such Insured Amounts. In the event the Trustee for the Insured Obligations has notice that any payment of principal or interest on an Insured Obligation which has become Due for Payment and which is made to a Holder by or on behalf of the Trustee has been deemed a preferential transfer and theretofore recovered from its Holder pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court of competent jurisdiction, such Holder will be entitled to payment from Ambac to the extent of such recovery if sufficient funds are not otherwise available. This Policy is noncancelable by Ambac for any reason, including failure to receive payment of any premium due hereunder. The premium on this Policy is not refundable for any reason. This Policy does not insure against loss of any prepayment or other acceleration payment which at any time may become due in respect of any Insured Obligation, other than at the sole option of Ambac, nor against any risk other than Nonpayment, including failure of the Trustee to make any payment due Holders of Insured Amounts. To the fullest extent permitted by applicable law, Ambac hereby waives and agrees not to assert any and all rights and defenses, to the extent such rights and defenses may be available to Ambac, to avoid payment of its obligations under this Policy in accordance with the express provisions hereof. Any capitalized terms not defined herein shall have the meaning given such terms in the endorsement attached hereto or in the Agreement. In witness whereof, Ambac has caused this Policy to be affixed with its corporate seal and to be signed by its duly authorized officers in facsimile to become effective as their original signatures and binding upon Ambac by virtue of the countersignature of its duly authorized representative. President Secretary [Seal] Effective Date: November 19, 2004 Authorized Representative CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE AB0826BE November 3019, 2004 issued to: Wells Fargo BankHSBC Bank USA, Nati▇▇▇▇ National Association, as Trustee for the Holders of the Nomura Asset Homestar Mortgage Acceptance Corporation, Alternative Loan Trust, Mortgage Corp. Asset-Backed Pass-Through Certificates, Series 2004Series2004-AP36, Class A-4, A-5A and Class A-6 A-3B For all purposes of this Policy, the following terms shall have the following meanings:

et seq. Effective May 24▇▇, 2002 --------------------- ------------------------------------------------- -------------------------------- ▇002 ---------------------------- ---------------------------------------- -------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------- ---------------------------------------- -------------------------- Effective for loans taken on or after January 1, 2004 ---------------------------- ---------------------------------------- -------------------------- Standard & Poor's Covered Loan Categorization --------------------------------------------- ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under ------------------ ------------------------------ -------------- Law/Effective Date Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5▇▇ne ▇, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ▇002 ---------------------------- ---------------------------------------- -------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's High Cost Loan Categorization ----------------------------------------------- ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending ------------------ ------------------------------ -------------- Law/Effective Date Anti-Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1▇▇▇ob▇▇ ▇, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Covered Home Loan of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------- ---------------------------------------- -------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending ------------------ ------------------------------ -------------- Law/Effective Date Anti-Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1▇▇▇ob▇▇ ▇, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Home Loan of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:---------------------------- ---------------------------------------- --------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION -------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law -------------------------------------------------------------------------------------------------------- South Carolina South Carolina High Cost and Consumer High Cost Home Loan Home Loans Act, S.C. Code ▇▇▇. Sections 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan Code ▇▇▇. Sections 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction -------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Sections 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. Sections 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction -------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) Sections 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------------------- EXHIBIT 1-4 STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction -------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- ----------------- --------------------- Offered Certificates S&P ▇▇▇▇▇'▇ ------------------------------- ----------------- --------------------- Class I-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class I-X AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-4 AAA Aaa ------------------------------- ----------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------- ----------------- --------------------- Class I-B-2 AA Aa1 ------------------------------- ----------------- --------------------- Class I-B-3 AA- Aa1 ------------------------------- ----------------- --------------------- Class I-B-4 A+ Aa2 ------------------------------- ----------------- --------------------- Class I-B-5 A Aa3 ------------------------------- ----------------- --------------------- Class I-B-6 A- A1 ------------------------------- ----------------- --------------------- Class I-B-7 BBB+ A3 ------------------------------- ----------------- --------------------- Class I-B-8 BBB Baa2 ------------------------------- ----------------- --------------------- Class I-B-9 BBB- Baa3 ------------------------------- ----------------- --------------------- Class II-B-1 AA Aaa ------------------------------- ----------------- --------------------- Class II-B-2 A Aa3 ------------------------------- ----------------- --------------------- Class II-B-3 BBB A3 ------------------------------- ----------------- --------------------- Class II-B-4 BBB- Baa1 ------------------------------- ----------------- --------------------- The Class I-XP-1, NatiClass I-XP-2, Class I-B-IO, Class II-XP, Class II-B-IO, Class R and Class R-X Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that ▇▇▇▇▇ Fargo Bank, National Association, a banking corporation, having a place of business at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, as Trustee for (and in no personal or other representative capacity) under the Holders Pooling and Servicing Agreement, dated as of January 1, 2007, by and among Structured Asset Mortgage Investments II Inc., the Nomura Asset Acceptance CorporationTrustee and EMC Mortgage Corporation (as amended, Alternative Loan Trustrestated, supplemented or otherwise modified from time to time, the "Agreement"; capitalized terms not defined herein have the definitions assigned to such terms in the Agreement), relating to the Bear ▇▇▇▇▇▇▇ Mortgage Funding Trust 2007-AR1, Mortgage Pass-Through Certificates, Series 20042007-AP3AR1, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee's true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee's name, place and stead and for the Trustee's benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the "Mortgage Documents"). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Q-3 ---------------------------------- ----------------------------------------------------- ----------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------- ----------------------------------------------------- ----------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) Ann. ss.ss. 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, -- --- 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------- ----------------------------------------------------- ------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ ---------------------------------- ----------------------------------------------------- ------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ ▇▇▇▇ 20▇▇ - Mar. 6, ▇an 2003) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. -- --- Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. -- --- Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming -- --- Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to---------------------------------- ----------------------------------------------------- ------------------------------ EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. [RESERVED] [RESERVED] EXHIBIT T [RESERVED] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": Wells Fargo Bank------------------------------------------------------------------------------------------ ---------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- General Servicing Considerations --------------------- ---------------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in 1122(d)(1)(i) accordance with the transaction agreements. --------------------- ---------------------- If any material servicing activities are outsourced to third parties, Nati▇▇▇▇ Association, as Trustee policies and procedures are instituted to monitor the third party's performance and compliance with such servicing activities. 1122(d)(1)(ii) --------------------- ---------------------- Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the Holders mortgage loans are maintained. --------------------- ---------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the Nomura Asset Acceptance Corporationtransaction agreements. 1122(d)(1)(iv) --------------------- ---------------------- Cash Collection and Administration --------------------- ---------------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes or such other number of this Policy, 1122(d)(2)(i) days specified in the following terms shall have the following meanings:transaction agreements. --------------------- ---------------------- Disbursements made via wire transfer on behalf of an obligor or to 1122(d)(2)(ii) an investor are made only by authorized personnel. W-2

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 --------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential West Virginia Mortgage Lender, West Virginia Broker and Mortgage Loan Broker and Act Loan Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending ------------------ ------------------------------ ---------- Law/Effective Date Anti-Predatory ------------------ -------------- Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------- --------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Covered ▇▇an ▇▇▇▇ Loan - Mar. 6, 2003) Code Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Covered Home Loan Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending ------------------ ------------------------------ ---------- Law/Effective Date Anti-Predatory ------------------ -------------- Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------- --------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Home Lo▇▇ 20▇▇ Loan - Mar. 6, 2003) Code Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Home Loan Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Home Loan Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) --------------------------------------------------------------------------------------------------------------- Effective for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as --------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee for at closing and on file with the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Trustee. EXHIBIT S-1 [RESERVED] EXHIBIT S-2 [RESERVED] EXHIBIT T [RESERVED] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee]

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor’s Home Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- ----------------- --------------------- Offered Certificates S&P ▇▇▇▇▇’▇ ------------------------------- ----------------- --------------------- Class I-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class I-X AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------- ----------------- --------------------- Class I-B-2 AA Aa1 ------------------------------- ----------------- --------------------- Class I-B-3 AA- Aa1 ------------------------------- ----------------- --------------------- Class I-B-4 A+ Aa2 ------------------------------- ----------------- --------------------- Class I-B-5 A Aa3 ------------------------------- ----------------- --------------------- Class I-B-6 A- A1 ------------------------------- ----------------- --------------------- Class I-B-7 BBB+ A3 ------------------------------- ----------------- --------------------- Class I-B-8 BBB Baa2 ------------------------------- ----------------- --------------------- Class I-B-9 BBB- Baa3 ------------------------------- ----------------- --------------------- Class II-B-1 AA Aaa ------------------------------- ----------------- --------------------- Class II-B-2 A Aa3 ------------------------------- ----------------- --------------------- Class II-B-3 BBB A3 ------------------------------- ----------------- --------------------- Class II-B-4 BBB- Baa1 ------------------------------- ----------------- --------------------- The Class I-XP-1, NatiClass I-XP-2, Class II-XP, Class R, Class R-X, Class I-B-IO, Class II-B-5 and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that ▇▇▇▇▇ Fargo Bank, National Association, a banking corporation, having a place of business at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, as Trustee for (and in no personal or other representative capacity) under the Holders Pooling and Servicing Agreement, dated as of December 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Nomura Asset Acceptance CorporationTrustee and EMC Mortgage Corporation (as amended, Alternative Loan Trustrestated, supplemented or otherwise modified from time to time, the “Agreement”; capitalized terms not defined herein have the definitions assigned to such terms in the Agreement), relating to the Bear ▇▇▇▇▇▇▇ Mortgage Funding Trust 2006-AR5, Mortgage Pass-Through Certificates, Series 20042006-AP3AR5, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee’s true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the “Mortgage Documents”). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage in various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ------------------------------------------------------------------------------------------------------------------ South Carolina South Carolina High Cost and High Cost Home Loan Consumer Home Loans Act, S.C. Code ▇▇▇. ▇▇.▇▇. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ West Virginia West Virginia Residential West Virginia Mortgage Mortgage Lender, West Virginia Mortgage Loan Broker and Loan Act Loan Servicer Act, W. Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ Georgia (Oct. Oct 1, 2002 - Mar 6, 2003) Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Covered Loan Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Covered Home Loan Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Applicable Anti- Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ Georgia (Oct. Oct 1, 2002 - Mar 6, 2003) Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Home Loan Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti------------------------------------------------------------------------------------------------------------------ Indiana Indiana Home Loan Practices Act, Home Loan Ind. Code ▇▇▇. ▇▇.▇▇. 24-Predatory Category under Applicable Lending Law/9-1-1 et seq. Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- for loans originated on or after January 1, 2005. ------------------------------------------------------------------------------------------------------------------ New Jersey New Jersey Home Ownership Home Loan Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ New Mexico Home Loan Protection Act, N.M. Home Loan Rev. Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ------------------------------------------------------------------------------------------------------------------ North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ------------------------------------------------------------------------------------------------------------------ South Carolina South Carolina High Cost and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30Consumer Home Loan Consumer Home Loans Act, 2004 issued to: Wells Fargo Bank, NatiS.C. Code ▇▇▇▇ Association. ▇▇.▇▇. 37-23-10 et seq. Effective for loans taken on or after January 1, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:2004 ------------------------------------------------------------------------------------------------------------------ SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ----------------------------------------------- Public Certificates -------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, ered Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ 20▇▇ - Mar. 6, 2003▇▇e Loan ▇▇▇3) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] SWAP CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [▇▇▇▇ ▇▇] ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile ------------------, as Trustee for --------------- ----------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWALT, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 -------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ----------------------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code AnnAnn.ss.ss. ss.ss. Act Loan 31-17-1 et seq17-▇ ▇▇ ▇▇▇. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State--------------------------------------------- -------------------------------------------------------------------------------------------- CATEGORY UNDER STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING APPLICABLE ANTI- LAW/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- EFFECTIVE DATE PREDATORY LENDING LAW -------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇Lending Act, Ga. Code Covered Loan Mar. 6, 2003) Ann.ss.ss. 7-6A-1 ▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ssStat.ss.ss. 46:10B-22 et se▇ET SEQ. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State------------------------------------------ -------------------------------------------------------------------------------------------- CATEGORY UNDER STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING APPLICABLE ANTI- LAW/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- EFFECTIVE DATE PREDATORY LENDING LAW -------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇Lending Act, Ga. Code Home Loan Mar. 6, 2003) Ann.ss.ss. 7-6A-1 ▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State------------------------------------------ -------------------------------------------------------------------------------------------- CATEGORY UNDER STATE/Jurisdiction Name of AntiJURISDICTION NAME OF ANTI-Predatory Category under Applicable Lending LawPREDATORY LENDING APPLICABLE ANTI- LAW/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- EFFECTIVE DATE PREDATORY LENDING LAW -------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ssStat.ss.ss. 46:10B-22 et se▇ET SEQ. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan Stat.ss.ss. 58-21A-1 et seq21▇-▇ ▇▇ ▇▇▇. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24Stat.ss.ss.24-1.1E et seqET SEQ. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, -------------------------------------------------------------------------------------------- SCHEDULE A ---------- REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES Public Certificates ------------------- Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:S&P Moody's ----------------------- --------------------------- ---------------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 – Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - – March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - – July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 – Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. §§ Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - – March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code ▇▇▇. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- ----------------- --------------------- Offered Certificates S&P ▇▇▇▇▇'▇ ------------------------------- ----------------- --------------------- Class I-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class I-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class I-X AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-1 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-2 AAA Aaa ------------------------------- ----------------- --------------------- Class II-A-3 AAA Aaa ------------------------------- ----------------- --------------------- Class I-B-1 AA+ Aaa ------------------------------- ----------------- --------------------- Class I-B-2 AA Aa1 ------------------------------- ----------------- --------------------- Class I-B-3 AA- Aa2 ------------------------------- ----------------- --------------------- Class I-B-4 A+ Aa3 ------------------------------- ----------------- --------------------- Class I-B-5 A A2 ------------------------------- ----------------- --------------------- Class I-B-6 BBB Baa2 ------------------------------- ----------------- --------------------- Class I-B-7 BBB- Baa3 ------------------------------- ----------------- --------------------- Class II-B-1 AA Aa1 ------------------------------- ----------------- --------------------- Class II-B-2 A Aa2 ------------------------------- ----------------- --------------------- Class II-B-3 BBB A1 ------------------------------- ----------------- --------------------- Class II-B-4 BBB- A3 ------------------------------- ----------------- --------------------- The Class I-XP, NatiClass II-XP, Class I-R, Class II-R, Class I-B-IO and Class II-B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that ▇▇▇▇▇ Fargo Bank, National Association, a banking corporation, having a place of business at ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, as Trustee for (and in no personal or other representative capacity) under the Holders Pooling and Servicing Agreement, dated as of July 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Nomura Asset Acceptance CorporationTrustee and EMC Mortgage Corporation (as amended, Alternative Loan Trustrestated, supplemented or otherwise modified from time to time, the "Agreement"; capitalized terms not defined herein have the definitions assigned to such terms in the Agreement), relating to the Bear ▇▇▇▇▇▇▇ Mortgage Funding Trust 2006-AR1, Mortgage Pass-Through Certificates, Series 20042006-AP3AR1, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee's true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee's name, place and stead and for the Trustee's benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the "Mortgage Documents"). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May Effectiv▇ ▇▇▇ 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇Lending Act, Ga. Code Co▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇▇) Ann. ▇▇.▇▇ss.ss. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October Eff▇▇▇iv▇ ▇▇▇ober 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. 7-6A-1 Ho▇▇▇▇ ▇▇▇▇ ▇▇▇, ▇) ▇. t ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et seseq. Effec▇. Effective ▇▇▇ for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 2▇▇-▇ et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, NatiE▇▇▇ct▇▇▇ Association▇or loans taken on or after January 1, as 2004 ---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee for at closing and on file with the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Trustee. EXHIBIT S-1 [Reserved] EXHIBIT S-2 [Reserved] EXHIBIT T [Reserved]

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective for loans taken ▇▇▇en on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. §§ Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Covered Loan 2003) 7▇-6A-1 et seq▇▇-▇ ▇▇ ▇eq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------- ------------------------------------------------- -------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Category under Applicable Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. §§ Home Loan 2003) ▇-▇▇▇▇▇-▇ ▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. §§ 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. §§ Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. §§ 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------------- ------------------------------------------------- -------------------------------- South Carolina South Carolina High Cost and forming Consumer Home Consumer Home Loan Loans Act, S.C. Code Ann. §§ 37-23-10 et seq. Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans ▇▇▇en on or after January 1, 2004 issued to: ---------------------------------- ------------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES ------------------------------- -------------------- --------------------- Offered Certificates S&P Moody's ------------------------------- -------------------- --------------------- Class A-1 AAA Aaa ------------------------------- -------------------- --------------------- Class A-2 AAA Aaa ------------------------------- -------------------- --------------------- Class B-1 AA Aaa ------------------------------- -------------------- --------------------- Class B-2 A Aa3 ------------------------------- -------------------- --------------------- Class B-3 BBB A3 ------------------------------- -------------------- --------------------- Class B-4 BBB- Baa1 ------------------------------- -------------------- --------------------- The Class XP, Class R, Class R-X and Class B-IO Certificates have not been rated. None of the above ratings has been lowered, qualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. SCHEDULE B MORTGAGE LOAN SCHEDULE (Provided upon request) EXHIBIT I FORM OF TRUSTEE LIMITED POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that Wells Fargo Bank, NatiNational Association, a banking corporation, havi▇▇ ▇ place of business at 9062 Old Annapolis Road, Columbia, Maryland, as Trustee (and in no p▇▇▇▇▇▇▇ Association▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇er the Pooling and Servicing Agreement, dated as of November 1, 2006, by and among Structured Asset Mortgage Investments II Inc., the Trustee for and EMC Mortgage Corporation (as amended, restated, supplemented or otherwise modified from time to time, the Holders of "Agreement"; capitalized terms not defined herein have the Nomura Asset Acceptance Corporationdefinitions assigned to such terms in the Agreement), Alternative Loan Trustrelating to the Bear Stearns Mortgage Funding Trust 2006-AR4, Mortgage Pass-Through CertificatesCertif▇▇▇▇▇▇, Series 20042006-AP3AR4, Class A-4hereby appoints _______________, A-5A in its capacity as Servicer under the Agreement, as the Trustee's true and Class A-6 For lawful Special Attorney-in-Fact, in the Trustee's name, place and stead and for the Trustee's benefit, but only in its capacity as Trustee aforesaid, to perform all purposes of this Policyacts and execute all documents as may be customary, necessary and appropriate to effectuate the following terms enumerated transactions in respect of any mortgage, deed of trust, promissory note or real estate owned from time to time owned (beneficially or in title, whether the Trustee is named therein as mortgagee or beneficiary or has become mortgagee or beneficiary by virtue of endorsement, assignment or other conveyance) or held by or registered to the Trustee (directly or through custodians or nominees), or in respect of which the Trustee has a security interest or other lien, all as provided under the applicable Agreement and only to the extent the respective Trustee has an interest therein under the Agreement, and in respect of which the Servicer is acting as servicer pursuant to the Agreement (the "Mortgage Documents"). This appointment shall have apply to the following meaningsenumerated transactions under the Agreement only:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- Oklahoma Consumer Credit Code (codified in various sections of Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 --------------------------------------- ---------------------------------------------------------- --------------------------------- South Carolina South Carolina High Cost and Consumer Home Loans Act, High Cost Home Loan S.C. Code Ann. ss.ss. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- West Virginia West Virginia Residential Mortgage Lender, Broker and West Virginia Mortgage Loan Broker and Act L Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ --------------------------------------- ---------------------------------------------------------- --------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ 2002 - Mar. 6, 2003) Georgia Fair Lending Act, Ga. Code Ann. ss.ss. 7-6A-1 et seq. Covere▇ ▇oa▇ Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, N.J. Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. 6, 2003) Georgia Fair Lending Act, Ga. Code Ann. ss.ss. 7-6A-1 et seq. Home L▇▇▇ Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, N.J. Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------- ---------------------------------------------------------- --------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:.

et seq. Standard & Poor's High Cost Loan Categorization ----------------------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law ----------------------------------------------------------------------------------------------------------------------------------- Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various sections of Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ----------------------------------------------------------------------------------------------------------------------------------- South Carolina South Carolina High Cost and Consumer Home Loans Act, High Cost Home Loan S.C. Code Ann. ss.ss. 37-23-10 et seq. Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, Broker and West Virginia Mortgage Loan Broker and Act Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. ▇oa▇ Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ----------------------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ----------------------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. ▇-▇▇-▇ ▇▇ Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003▇) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, N.J. Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:-----------------------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for July 1, 2000; amended effective January 1, 2004 -------------------------------------- ----------------------------------------------- ------------------------------- South Carolina South Carolina High Cost and Consumer Home High Cost Home Loan Loans Act, S.C. Code -------------------------------------- ----------------------------------------------- ------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION -------------------------------------- ----------------------------------------------- ------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Law/Effective Date Anti-Predatory Lending Law -------------------------------------- ----------------------------------------------- ------------------------------- Ann. ss.ss. 37-23-10 et seq. E▇▇▇ct▇▇▇ ▇or loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seqe▇ ▇eq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------- ----------------------------------------------- ------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Covered Loan 2003) 7-6▇▇▇▇▇▇-▇ e▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan 2002, N.J. Rev. Stat. ss.ss. 46:10B-22 et seseq. Effec▇. Effective ▇▇▇ November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------- ----------------------------------------------- ------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- -------------------------------------- ----------------------------------------------- ------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Home Loan 2003) 7-6A-1 et seq▇▇ s▇▇. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------------- ---------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Home Loan -------------------------------------- ---------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ -------------------------------------- ----------------------------------------------- ------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security -------------------------------------- ----------------------------------------------- ------------------------------- Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------------- ---------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seqs▇▇. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------------- ---------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders -------------------------------------- ---------------------------------------------- -------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES Public Certificates Class S&P Moody's --------- ------- --------- I-A-1 AAA Aaa I-A-2 AAA Aaa I-A-3 AAA Aaa I-M-1 AA+ Aa1 I-M-2 AA Aa2 I-M-3 AA- Aa3 I-M-4 A A2 I-B-1 A- A3 I-B-2 BBB+ Baa1 I-B-3 BBB Baa2 I-B-4 BBB- Baa3 II-A-1 AAA Aaa II-A-2 AAA Aaa II-A-3 AAA Aaa II-M-1 AA+ Aa1 II-M-2 AA Aa2 II-M-3 AA- Aa3 II-M-4 A A2 II-B-1 A- A3 II-B-2 BBB+ Baa1 II-B-3 BBB Baa2 II-B-4 BBB- Baa3 None of the Nomura Asset Acceptance Corporationabove ratings has been lowered, Alternative Loan Trust, Mortgage Passqualified or withdrawn since the dates of issuance of such ratings by the Rating Agencies. Private Certificates Class S&P Moody's --------- ----------- ----------- I-Through Certificates, Series 2004B-6 BB+ Ba1 I-AP3, Class A-4, A-5A and Class A-6 For all purposes B-7 BB Ba2 II-B-6 BB+ Ba1 II-B-7 BB Ba2 I-R-1 Not Rated Not Rated I-R-2 Not Rated Not Rated I-R-3 Not Rated Not Rated I-RX Not Rated Not Rated II-R-1 Not Rated Not Rated II-R-2 Not Rated Not Rated II-R-3 Not Rated Not Rated II-RX Not Rated Not Rated EXHIBIT N SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE KEY: ---- X - obligation [X] - under consideration for obligation Where there are multiple checks for criteria the attesting party will identify in their management assertion that they are attesting only to the portion of this Policy, the following terms shall have distribution chain they are responsible for in the following meanings:related transaction agreements.

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- West Virginia West Virginia Residential West Virginia Mortgage Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Loan Act Loan Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. 31-17-1 ET SEQ. Effective June 5, 2002 -------------------------------------------------------------------------------------------- STANDARD & POOR'S COVERED LOAN CATEGORIZATION --------------------------------------------- -------------------------------------------------------------------------------------------- STATE/JURISDICTION NAME OF ANTI-PREDATORY LENDING CATEGORY UNDER APPLICABLE LAW/EFFECTIVE DATE ANTI-PREDATORY LENDING LAW -------------------------------------------------------------------------------------------- Georgia Georgia Fair Lending Act, Ga. Code Covered ▇▇an Loan (Oct. 1, 2002 - ▇▇▇▇ - . ▇▇.▇▇. 7-6A-1 ET SEQ. Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇ET SEQ. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti------------------------------------------ E-7-Predatory Category under Applicable Lending Law/4 Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. for loans originated on or after January 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇2005. -------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, ▇▇. ▇▇▇▇ ▇▇▇N.J. Rev. Stat. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇ET SEQ. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seqET SEQ. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- -------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:ET SEQ.

et seq. Effective May 24, 2002 ---------------------------------------------------------------------------------------------------------------------- Standard & Poor's High Cost Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans Effectiv▇ ▇or ▇▇▇▇s taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seqse▇. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇Ga. Code Ann. Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) 7ss.ss. ▇-6A-1 ▇A-1 et seq. Effective October 1Octob▇▇ ▇, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10I-B-22 et se▇seq. Effective November ▇▇▇▇▇ber 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇Ga. Code Ann. ▇▇▇▇ ▇▇▇ss.ss. ▇▇.▇▇. 7-6A-1 Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) 7-6A-1 et seq▇▇▇. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti---------------------------------------------------------------------------------------------------------------------- Indiana Indiana Home Loan Practices Act, Ind. Code Ann. Home Loan ss.ss. 24-Predatory Category under Applicable Lending Law/9-▇-1 et seq. Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- for ▇▇▇▇▇ originated on or after January 1, 2005. ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10I-B-22 et se▇seq. Effective for loans f▇▇ ▇▇ans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seqe▇ ▇▇▇. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇r ▇▇▇▇▇ Associationtaken on or after January 1, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, 2004 ---------------------------------------------------------------------------------------------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES Public Certificates Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Fitch S&P ------------------------------- ------------- ----------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- Standard & Poor's High Cost Loan Categorization ----------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under ------------------ ------------------------------ -------------- Law/Effective Date Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. ▇▇q. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending ------------------ ------------------------------ -------------- Law/Effective Date Anti-Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Covered Loa▇ ▇▇▇▇▇▇) 7-6A-▇ et ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seseq. Effec▇. Effective ▇▇▇ November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending ------------------ ------------------------------ -------------- Law/Effective Date Anti-Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ 2002 - Mar. 6, 2003Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Home Loan 2▇▇▇) 7-6A-1 et seq▇▇ se▇. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending ------------------ ------------------------------ -------------- Law/Effective Date Anti-Applicable Anti- ------------------ ---------------- Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et seseq. Effec▇. Effective ▇▇▇ for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seqse▇. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date Effecti▇▇ ▇▇ly 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) ---------------------------------- ------------------------------------------------- -------------------------------- E▇▇▇ct▇▇▇ ▇or loans taken on or after January 1, 2004 issued to---------------------------------- ------------------------------------------------- -------------------------------- EXHIBIT R FORM OF LOST NOTE AFFIDAVIT - LA SALLE AS CUSTODIAN I, as _________________________ (title) of ________ (the "Custodian"), am authorized to make this Lost Note Affidavit on behalf of __________. In connection with the administration of the Mortgage Loans held by _______________ as Custodian on behalf of ____________ ("____") or the Trust of such mortgage loans, as the case may be (the "Investor"), I (hereinafter called "Deponent"), being duly sworn, depose and say that: Wells Fargo BankCustodian's address is: [CUSTODIAN'S Address] Custodian previously delivered to the Investor a signed Trust Receipt with respect to the Mortgage Note referred to below; Such Mortgage Note was endorsed or sold to the Investor by _________________________ pursuant to the terms and provisions of a ____________________ Agreement dated and effective as of _________ ______, Nati____; Such Mortgage Note is not outstanding pursuant to a Request for Release of Documents; Such Mortgage Note (hereinafter called the "Original") has been lost; Deponent has made or has caused to be made diligent search for Original and has been unable to find or recover same; The Custodian was the Custodian of the Original at the time of loss; and Deponent agrees that, if the Original should ever come into Custodian's possession, custody or power, Custodian will immediately and without consideration surrender Original to the Investor. Attached hereto is a true and correct copy of the (i) Mortgage Note, endorsed in blank by the Mortgagee, and (ii) [Mortgage][Deed of Trust] with evidence of recording thereon which secures the Mortgage Note. Deponent hereby agrees that the Custodian shall indemnify and hold harmless the Purchaser, the Trust, the Servicer of the related Mortgage Loan and their respective employees, officers, directors and agents against any loss, liability or damage, including reasonable attorney's fees, resulting from the unavailability of the Mortgage Note, including but not limited to any loss, liability or damage arising from (i) any false statement contained in this Lost Note Affidavit, (ii) any claim of any party that it has already purchased a mortgage loan evidenced by the lost Mortgage Note or any interest in such mortgage loan, (iii) any claim of any borrower with respect to the existence of terms of a Mortgage Loan evidenced by the lost Mortgage Note, (iv) the issuance of new instrument in lieu thereof and (v) any claim whether or not based upon or arising from honoring or refusing to honor the Original when presented by anyone (items (i) through (iv) above are hereinafter referred to as the "Losses") and (b) if required by any Rating Agency in connection with placing such lost Mortgage Note into a securitization transaction, shall obtain a surety bond from an insurer acceptable to the applicable Rating Agency in an amount acceptable to such Rating Agency to cover any Losses with respect to such lost Mortgage Note. Capitalized terms used herein but not defined herein have the meanings given them in the Custodial Agreement, dated as of July 1, 2006, between Morgan Stanley Mortgage Capital Inc. and the Custodian. T▇▇▇ ▇▇s▇ ▇▇▇▇ AssociationAffidavit is intended to be relied on by the Investor, as Trustee for its successors, and assigns and _______________________ represents and warrants that it has the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of authority to perform its obligations under this Policy, the following terms shall have the following meanings:Lost Note Affidavit.

et seq. Effective May 24March 22, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia 2001 and amended from time to time --------------------------------------------------------------------------------------------------------------------- Massachusetts Predatory Home Loan High Cost Home Practices Act Mortgage Loan Broker and Servicer ActMass. Gen. Laws ch. 183C, W. Va. Code Ann▇▇.▇▇. ss.ss. Act Loan 31-17-1 et seq. Effective June 5November 7, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇2004 --------------------------------------------------------------------------------------------------------------------- Nevada Assembly ▇▇▇▇ ▇▇▇No. 284, ▇▇. ▇▇▇▇ ▇▇▇Nev. Rev. Home Loan Stat. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 598D.010 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security High Cost Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 46:10B-22 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. High Cost Home Loan Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New York N.Y. Banking Law Article 6-l High Cost Home Loan Effective for applications made on or after April 1, 2003 --------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High High Cost Home Consumer Loan Cost Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit) --------------------------------------------------------------------------------------------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION --------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage PassAnti-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Predatory Lending Law ---------------------------------------------------------------------------------------------------------------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- South Carolina South Carolina High Cost and Consumer High Cost Home Loan Home Loans Act, S.C. Code Ann.ss.ss. 37-23-10 et seq. ▇▇▇ective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann. ss.ss. Act Loan 31Ann.ss.ss.31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ---------------------------- ---------------------------------------- -------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) 7Ann.ss.ss.7-6A-1 et seq. Effective October 1, 2002 - March ▇arch 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Covered Home Loan of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 Stat.ss.ss.46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------ ---------------------------- ---------------------------------------- -------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) 7Ann.ss.ss.7-6A-1 et seq. Effective October 1, 2002 - March ▇arch 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Home Loan of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 Stat.ss.ss.46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58Stat.ss.ss.58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ssStat.ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association▇ctive July 1, as Trustee 2000; amended October 1, 2003 (adding open-end lines of credit) ---------------------------- ---------------------------------------- -------------------------- ---------------------------- ---------------------------------------- -------------------------- South Carolina South Carolina High Cost and Consumer Consumer Home Loan Home Loans Act, S.C. Code Ann.ss.ss. 37-23-10 et seq. ▇▇▇ective for the Holders of the Nomura Asset Acceptance Corporationloans taken on or after January 1, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:2004 ---------------------------- ---------------------------------------- --------------------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. Act Loan ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇▇ - Mar. 6, ▇▇▇n 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD -------------------------------- Q-4 Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's High Cost Loan Categorization ----------------------------------------------- --------------------------------------------------------------------------------------------------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇▇▇ 20▇▇▇▇ - Mar. 6, 2003▇003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 issued to---------------------------------- ------------------------------------------------- -------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 EXHIBIT S-2 EXHIBIT T [Reserved] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": Wells Fargo Bank------------------------------------------------------------------------------------------ ---------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- General Servicing Considerations --------------------- ---------------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in 1122(d)(1)(i) accordance with the transaction agreements. --------------------- ---------------------- If any material servicing activities are outsourced to third parties, Nati▇▇▇▇ Association, as Trustee policies and procedures are instituted to monitor the third party's performance and compliance 1122(d)(1)(ii) with such servicing activities. --------------------- ---------------------- Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the Holders mortgage loans are maintained. --------------------- ---------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with 1122(d)(1)(iv) the terms of the Nomura Asset Acceptance Corporationtransaction agreements. --------------------- ---------------------- Cash Collection and Administration --------------------- ---------------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Alternative Loan Trustor such other number of 1122(d)(2)(i) days specified in the transaction agreements. --------------------- ---------------------- Disbursements made via wire transfer on behalf of an 1122(d)(2)(ii) obligor or to an investor are made only by --------------------- ---------------------- W-1 Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- authorized personnel. --------------------- ---------------------- Advances of funds or guarantees regarding collections, Mortgage Pass-Through Certificatescash flows or distributions, Series 2004-AP3and any interest or other fees charged for such advances, Class A-4are made, A-5A reviewed and Class A-6 1122(d)(2)(iii) approved as specified in the transaction agreements. --------------------- ---------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the 1122(d)(2)(iv) transaction agreements. --------------------- ---------------------- Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For all purposes of this Policycriterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the following terms shall have the following meanings:requirements of 1122(d)(2)

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Q-3 ---------------------------------- ----------------------------------------------------- ----------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------- ----------------------------------------------------- ----------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair Lending Act, Ga. ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) Ann. ss.ss. 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, -- --- 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------- ----------------------------------------------------- ------------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ ---------------------------------- ----------------------------------------------------- ------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Category under Applicable Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. Ga. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ ▇▇▇▇ 20▇▇ - Mar. 6, ▇▇n 2003) 7-6A-1 et seq. -- --- Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. -- --- Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. -- --- Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------- ----------------------------------------------------- ------------------------------ North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming -- --- Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to---------------------------------- ----------------------------------------------------- ------------------------------ EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. [RESERVED] [RESERVED] EXHIBIT T [RESERVED] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": Wells Fargo Bank------------------------------------------------------------------------------------------ ---------------------- Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------------------ ---------------------- Reference Criteria --------------------- -------------------------------------------------------------------- ---------------------- General Servicing Considerations --------------------- ---------------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in 1122(d)(1)(i) accordance with the transaction agreements. --------------------- ---------------------- If any material servicing activities are outsourced to third parties, Nati▇▇▇▇ Association, as Trustee policies and procedures are instituted to monitor the third party's performance and compliance with such servicing activities. 1122(d)(1)(ii) --------------------- ---------------------- Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the Holders mortgage loans are maintained. --------------------- ---------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the Nomura Asset Acceptance Corporationtransaction agreements. 1122(d)(1)(iv) --------------------- ---------------------- Cash Collection and Administration --------------------- ---------------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes or such other number of this Policy, 1122(d)(2)(i) days specified in the following terms shall have the following meanings:transaction agreements. --------------------- ---------------------- Disbursements made via wire transfer on behalf of an obligor or to 1122(d)(2)(ii) an investor are made only by authorized personnel. W-2

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1▇, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ Loan 2002 - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 et se▇. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:--------------------------------

et seq. Effective May 24, 2002 ---------------------------------------------------------------------------------------------------------------------- Standard & Poor's High Cost Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Lending Applicable Anti- State/Jurisdiction Law/Effective Date Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans Effecti▇▇ fo▇ ▇▇▇ns taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seqs▇▇. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇Ga. Code Ann. Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) 7-6A-1 ss.ss. ▇-6A-1 et seq. Effective October 1Octo▇▇▇ ▇, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10I-B-22 et se▇seq. Effective November ▇▇▇▇mber 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under Name of Anti-Predatory Category under Lending Applicable Lending Anti- State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ------------------ ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇Ga. Code Ann. ▇▇▇▇ ▇▇▇ss.ss. ▇▇.▇▇. 7-6A-1 Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) 7-6A-1 et seq. ▇▇q. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti---------------------------------------------------------------------------------------------------------------------- Indiana Indiana Home Loan Practices Act, Ind. Code Ann. Home Loan ss.ss. 24-▇-Predatory Category under Applicable Lending Law/▇-1 et seq. Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- for ▇▇▇▇s originated on or after January 1, 2005. ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10I-B-22 et se▇seq. Effective for loans ▇▇▇ ▇oans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss. Home Loan 58-21A-1 et seq. ▇▇ ▇▇q. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30, 2004 issued to: Wells Fargo Bank, NatiEffectiv▇ ▇or ▇▇▇▇ Association▇s taken on or after January 1, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, 2004 ---------------------------------------------------------------------------------------------------------------------- SCHEDULE A REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES Public Certificates Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:Fitch S&P ------------------------------- ------------- ----------------

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization --------------------------------------------- --------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B- 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD --------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- O-4 --------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B- 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- --------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank--------------------------------------------------------------------------------------------------------------------- EXHIBIT P [FORM OF] SUPPLEMENTAL TRANSFER AGREEMENT THIS SUPPLEMENTAL TRANSFER AGREEMENT, Nati▇▇▇▇ Associationdated as of ____________, 200_ (this "Supplemental Transfer Agreement"), among CWALT, INC., a Delaware corporation, as Trustee for depositor (the Holders of the Nomura Asset Acceptance Corporation"Depositor"), Alternative Loan TrustCOUNTRYWIDE HOME LOANS, Mortgage Pass-Through CertificatesINC. ("CHL"), Series 2004-AP3a New York corporation, Class A-4as a seller (a "Seller"), A-5A PARK GRANADA LLC ("Park Granada"), a Delaware limited liability company, as a seller (a "Seller"), PARK MONACO INC. ("Park Monaco"), a Delaware limited liability corporation, as a seller (a "Seller"), PARK SIENNA LLC ("Park Sienna"), a Delaware limited liability company, as a seller (a "Seller" and Class A-6 For all purposes of this Policytogether with CHL, Park Granada and Park Monaco, the following terms shall have "Sellers") under the following meanings:Pooling and Servicing Agreement referred to below, and THE BANK OF NEW YORK, a New York banking corporation, as trustee (the "Trustee");

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Loan Act Loan Va. Code Ann▇▇▇. ss.ss▇▇.▇▇. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- STANDARD & POOR'S HIGH COST COVERED LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ---------------------------- ---------------------------------------- -------------------------- State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Covered Loan Mar. 6, 2003) ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Covered Home Loan of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- STANDARD & POOR'S HIGH COST HOME LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ Ga. Code Home Loan Mar. 6, 2003) ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Jersey New Jersey Home Ownership Security Act Home Loan of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ---------------------------------------- -------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Cost Home Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------- ---------------------------------------- -------------------------- EXHIBIT A REVISED July 11, Nati▇▇▇▇ Association▇▇▇▇▇▇▇▇ ▇ - STANDARD & POOR'S PREDATORY LENDING CATEGORIES Standard & Poor's has categorized loans governed by anti-predatory lending laws in the Jurisdictions listed below into three categories based upon a combination of factors that include (a) the risk exposure associated with the assignee liability and (b) the tests and thresholds set forth in those laws. Note that certain loans classified by the relevant statute as Covered are included in Standard & Poor's High Cost Loan Category because they included thresholds and tests that are typical of what is generally considered High Cost by the industry. STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Law ---------------------------- ---------------------------------------- -------------------------- Arkansas Arkansas Home Loan Protection Act, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative High Cost Home Loan Trust, Mortgage PassArk. Code ▇▇▇. ▇▇.▇▇. ▇▇-Through Certificates, Series 2004▇▇-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policy, the following terms shall have the following meanings:▇▇▇ et seq.

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various sections Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Covered Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇Lending Act, Ga. ▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, red Loan 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ Poor's Home Loan Categorization ---------------------------------------------------------------------------------------------------------------------- Category under -------------- State/Jurisdiction Name of Anti-Predatory Category under Lending Applicable Lending Anti- ------------------ ------------------------------ ---------------- Law/Effective Date Anti-Predatory Lending Law ------------------ --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 - Mar. 6, Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. Ga. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇-▇▇-▇ ▇▇▇▇ 20Loan 2▇▇ - Mar. 6, 2003▇▇) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to---------------------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [Reserved] EXHIBIT S-2 [Reserved] EXHIBIT T [Reserved] EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": Wells Fargo Bank------------------------------------------------------------------------------ Applicable Servicing Servicing Criteria Criteria ------------------------------------------------------------------------------ Reference Criteria ------------------------------------------------------------------------------ General Servicing Considerations --------------- ---------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the 1122(d)(1)(i) transaction agreements. --------------- ---------------- If any material servicing activities are outsourced to third parties, Nati▇▇▇▇ Association, as Trustee policies and procedures are instituted to monitor the third party's performance and compliance 1122(d)(1)(ii) with such servicing activities. --------------- ---------------- Any requirements in the transaction agreements to maintain a back-up servicer 1122(d)(1)(iii) for the Holders mortgage loans are maintained. --------------- ---------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the Nomura Asset Acceptance Corporation1122(d)(1)(iv) transaction agreements. --------------- ---------------- Cash Collection and Administration --------------- ---------------- Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes or such other number of this Policy, days specified in the following terms shall have the following meanings:1122(d)(2)(i) transaction agreements. --------------- ---------------- Disbursements made via wire transfer on behalf of an obligor or to an investor are 1122(d)(2)(ii) made only by --------------- ----------------

et seq. Effective May 24, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective July 1, 2000; amended effective January 1, 2004 ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Va. Code Ann. ss.ss▇▇▇. Act Loan ▇▇.▇▇. 31-17-1 et seq. Effective June 5, 2002 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's High Cost Loan Categorization ----------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Effective June 5, 2002 ---------------------------------- ------------------------------------------------- -------------------------------- Standard & Poor's Covered Loan Categorization --------------------------------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- STANDARD Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Georgia (Oct. 1, Georgia Fair 2002 - Mar. ▇, ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇, ▇▇. ▇▇▇▇ Code ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ - Mar. 6, Loan 2003) 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Home Loan N.J. Rev. Stat. ss.ss▇▇.▇▇. 46:10B-22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- Standard & Poor's Home Loan Categorization ------------------------------------------ --------------------------------------------------------------------------------------------------------------------- Name of Anti-Predatory Lending Category under Applicable State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law ---------------------------------- ------------------------------------------------- -------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Stat. ss.ss▇▇.▇▇. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ---------------------------------- ------------------------------------------------- -------------------------------- North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss▇▇.▇▇. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date July 1, 2000; amended October 1, 2003 (adding open-end lines of Endorsement: part of Policy No. AB0824BE November 30credit) ---------------------------------- ------------------------------------------------- -------------------------------- Effective for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati▇▇▇▇ Association, as ---------------------------------- ------------------------------------------------- -------------------------------- EXHIBIT R-1 [FORM OF] CLASS A-1 AND A-5 CORRIDOR CONTRACT Delivered to the Trustee for at closing and on file with the Holders of Trustee. EXHIBIT R-2 [FORM OF] CLASS A-4 CORRIDOR CONTRACT Delivered to the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A Trustee at closing and Class A-6 For all purposes of this Policy, on file with the following terms shall have the following meaningsTrustee. EXHIBIT R-3 [FORM OF] CLASS A-9 CORRIDOR CONTRACT DATE:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage various sections of Title 14A) Mortgage Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- West Virginia West Virginia Residential Mortgage West Virginia Lender, West Virginia Mortgage Loan Broker and Servicer Act, W. Mortgage Loan Act Va. Code Ann. ss.ss. Act Loan 31-17-1 et seq. Loan Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ----------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization --------------------------------------------- Category under Applicable Name of Anti-Predatory Category under Applicable Lending Anti-Predatory State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Covered ▇▇an ▇▇▇▇ Loan - Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Covered Home Loan Act of 2002, Covered Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:▇▇▇ 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ----------------------------------------------------------------------------------------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization ------------------------------------------ Category under Applicable Name of Anti-Predatory Category under Applicable Lending Anti-Predatory State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- Georgia (Oct. 1, 2002 Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇G▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Home Lo▇▇ 20▇▇ Loan - Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 46:▇▇▇ ▇2 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- New Mexico Home Loan Protection Act, N.M. Rev. Home Loan Rev.Stat. ss.ss. Home Loan 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ----------------------------------------------------------------------------------------------------------- North Carolina Restrictions and Limitations on Consumer Home Loan High Cost Home Consumer Home Loan Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank, Nati----------------------------------------------------------------------------------------------------------- EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 [FORM OF] ASSIGNMENT AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. ▇▇▇▇▇▇▇ Association▇-▇ [▇▇▇▇ ▇▇] ADMINISTRATION AGREEMENT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT T [FORM OF] OFFICER'S CERTIFICATE WITH RESPECT TO PREPAYMENTS MORTGAGE BACKED CERTIFICATES, Series 200_-__ [Date] Via Facsimile --------------------, as Trustee for --------------------- --------------------- Dear Sir or Madam: Reference is made to the Holders Pooling and Servicing Agreement, dated as of _________, 200_, (the Nomura Asset Acceptance Corporation"Pooling and Servicing Agreement") among [CWMBS, Alternative Loan TrustInc.], Mortgage Pass-Through Certificatesas Depositor, Series 2004-AP3[Countrywide Home Loans, Class A-4Inc.], A-5A as a Seller, [Park Granada LLC], as a Seller, [Park Monaco Inc.], as a Seller, [Park Sienna LLC], as a Seller, [Countrywide Home Loans Servicing LP], as Master Servicer and Class A-6 For all purposes of this Policy__________________, the following as Trustee. Capitalized terms used herein shall have the following meaningsmeanings ascribed to such terms in the Pooling and Servicing Agreement. __________________ hereby certifies that he/she is a Servicing Officer, holding the office set forth beneath his/her name and hereby further certifies as follows: With respect to the Distribution Date in _________ 200_ and each Mortgage Loan set forth in the attached schedule:

et seq. Effective May 24, 2002 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ------------------------------------------- ------------------------ Oklahoma Consumer Credit Code (codified in various Subsection 10 Mortgage sections of Title 14A) Effective for loans taken on or after January 1, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ------------------------------------------- ------------------------ West Virginia West Virginia Residential Mortgage Lender, West Virginia Mortgage Loan Lender, Broker and Servicer Act, W. Va. Loan Act Loan Code Ann. ss.ss. Act Loan 31-17-1 et seq. Effective June 5, 2002 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------- ------------------------------------------- ------------------------ Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Covered Loan Categorization _____________________________________________ ---------------------------- ------------------------------------------- ------------------------- Category under Applicable Name of Anti-Predatory Category under Applicable Lending Anti-Predatory Lending State/Jurisdiction Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ------------------------------------------- ------------------------- Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇. Ga. Code Covered ▇▇an ▇▇▇▇ - Loan Mar. 6, 2003) Ann. ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- ------------------------------------------- ------------------------- New Jersey New Jersey Home Ownership Security Act of 2002, Covered Home Loan 2002, N.J. Rev. Stat. ss.ss. 46:10B-22 46:10B 22 et se▇seq. Effective November 27, 2003 - July 5, 2004 --------------------- ------------------------------------------------- -------------------------------- STANDARD ---------------------------- ------------------------------------------- ------------------------- Standard & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Poor's Home Loan Categorization __________________________________________ ---------------------------- -------------------------------------------- ------------------------ Category under Applicable Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending State/Jurisdiction Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ Georgia (Oct. 1, 2002 - Georgia Fair ▇▇▇▇▇▇▇ ▇▇▇Lending Act, ▇▇. ▇▇▇▇ ▇▇▇. ▇▇.▇▇Ga. Code Ann. Home Lo▇▇ 20▇▇ - Loan Mar. 6, 2003) ss.ss. 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003 --------------------- ------------------------------------------------- -------------------------------- STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Category under Applicable Lending Law/Effective Date Anti-Predatory Lending Law --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ New Jersey New Jersey Home Ownership Security Home Loan Act of 2002, Home Loan N.J. Rev. Stat. ss.ss. 46:10B-22 ▇▇:10B 22 et se▇seq. Effective for loans closed on or after November 27, 2003 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ New Mexico Home Loan Protection Act, N.M. Rev. Rev.Stat. ss.ss. Home Loan ss.ss. 58-21A-1 et seq. Effective as of January 1, 2004; Revised as of February 26, 2004 --------------------- ------------------------------------------------- -------------------------------- ---------------------------- -------------------------------------------- ------------------------ North Carolina Restrictions and Limitations on High Cost Home Consumer Home Loan Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq. EXHIBIT O CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT Attached to and forming Effective Date of Endorsement: part of Policy No. AB0824BE November 30for loans taken on or after January 1, 2004 issued to: Wells Fargo Bank---------------------------- -------------------------------------------- ------------------------ EXHIBIT R [FORM OF] CORRIDOR CONTRACT Delivered to the Trustee at closing and on file with the Trustee. EXHIBIT S-1 EXHIBIT S-2 EXHIBIT T [Reserved] T-1 EXHIBIT U MONTHLY STATEMENT [On file with Trustee] EXHIBIT V-1 [FORM OF] PERFORMANCE CERTIFICATION (Servicer) [On file with Trustee] EXHIBIT V-2 [FORM OF] PERFORMANCE CERTIFICATION (Trustee) [On file with Trustee] EXHIBIT W [FORM OF] SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE STATEMENT The assessment of compliance to be delivered by [the Master Servicer] [Trustee] [Name of Subservicer] shall address, Nati▇▇▇▇ Association, as Trustee for the Holders of the Nomura Asset Acceptance Corporation, Alternative Loan Trust, Mortgage Pass-Through Certificates, Series 2004-AP3, Class A-4, A-5A and Class A-6 For all purposes of this Policyat a minimum, the following terms shall have the following meaningscriteria identified as below as "Applicable Servicing Criteria":