Common use of Execution and Delivery of Certificates Clause in Contracts

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Middle-Tier Interests and Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee Securities Administrator (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee Securities Administrator (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Middle-Tier Interests and Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations Denominations which, together with the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Regular Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Certificateholders Certificateholders, and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates (other than the Exchangeable Certificates) in authorized denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares (A) that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and Certificateholders, (B) that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee Securities Administrator (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, the Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee acknowledges (i) acknowledges the assignment to it of the Mortgage Loans, (ii) the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and (iii) the issuance of and hereby declares that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and Certificateholders. The Trustee acknowledges the Certificateholders and (ii) delivery of the Owner Mortgage Loan Files to the Custodian on behalf of the Trustee. The Paying Agent, concurrently with such delivery has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Loans and Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee Securities Administrator (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Regular Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Certificateholders Certificateholders, and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "“Trust Estate," ” receipt of which is hereby acknowledged, Certificates in authorized denominations Denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee Securities Administrator (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and the Certificateholders and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, the Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated Lower-Tier Interests and the Uncertificated Middle-Tier Interests and Uncertificated Lower-Tier Intereststhe assets of the Grantor Trust, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee acknowledges (i) acknowledges the assignment to it of the Mortgage Loans, (ii) the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Middle-Tier REMIC and the Certificateholders and (iii) the issuance of and hereby declares that it holds the Uncertificated Middle-Tier Interests on behalf of the Upper-Tier REMIC and Certificateholders. The Trustee acknowledges the Certificateholders and (ii) delivery of the Owner Mortgage Loan Files to the Custodian, on behalf of the Trustee. The Paying Agent, concurrently with such delivery, has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Loans and Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates in authorized denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.

Execution and Delivery of Certificates. The Trustee (i) acknowledges the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Regular Interests on behalf of the Middle-Tier REMIC and the Certificateholders and that it holds the Uncertificated Middle-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Certificateholders Certificateholders, and (ii) has executed and delivered to or upon the order of the Depositor, in exchange for the Mortgage Loans, Uncertificated Lower-Tier Interests and Uncertificated Middle-Tier Interests, together with all other assets included in the definition of "Trust Estate," receipt of which is hereby acknowledged, Certificates (other than the Exchangeable Certificates) in authorized denominations Denominations which, together with the Uncertificated MiddleLower-Tier Interests and the Uncertificated LowerMiddle-Tier Interests, evidence ownership of the entire Trust Estate.