Common use of REMIC II Regular Interests Clause in Contracts

REMIC II Regular Interests. INITIAL REMIC II INITIAL UNCERTIFICATED DESIGNATION REMITTANCE RATE PRINCIPAL BALANCE -------------------------------------------------------------------------------------------- A-1 7.49% $101,000,000 -------------------------------------------------------------------------------------------- A-2 7.49% $339,885,000 -------------------------------------------------------------------------------------------- B 7.49% $ 33,185,000 -------------------------------------------------------------------------------------------- C 7.49% $ 26,864,000 -------------------------------------------------------------------------------------------- D 7.49% $ 12,642,000 -------------------------------------------------------------------------------------------- E 7.49% $ 30,025,000 -------------------------------------------------------------------------------------------- F 7.49% $ 14,222,000 -------------------------------------------------------------------------------------------- G 7.49% $ 20,543,000 -------------------------------------------------------------------------------------------- H 7.49% $ 7,901,000 -------------------------------------------------------------------------------------------- J 7.49% $ 9,481,000 -------------------------------------------------------------------------------------------- K 7.49% $ 7,902,000 -------------------------------------------------------------------------------------------- L 7.49% $ 6,321,000 -------------------------------------------------------------------------------------------- M 7.49% $ 6,321,000 -------------------------------------------------------------------------------------------- N 7.49% $ 9,481,000 -------------------------------------------------------------------------------------------- O 7.49% $ 6,321,383 -------------------------------------------------------------------------------------------- REMIC III As provided herein, the Trustee will make the election described in Section 12.1 for the segregated pool of assets hereof consisting of the REMIC II Regular Interests to be treated for federal income tax purposes as a separate REMIC (such particular pool of assets, "REMIC III"). The REMIC III Regular Certificates (and, in the case of the Class O Certificates, the Class O REMIC Interest represented by the Class O Certificates) will be designated as representing the "regular interests" in REMIC III and the Class R-III Certificates will be designated as representing the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions. Sixteen separate Classes of REMIC III Regular Certificates will be issued, which will represent in the aggregate thirty separate "regular interests" in REMIC III. The following table irrevocably sets forth the designation, the pass-through rate (the "PASS-THROUGH RATE") and the initial aggregate principal balance (the "CLASS PRINCIPAL BALANCE") for each Class of REMIC III Regular Certificates. For purposes of Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" of each Class of REMIC III Regular Certificates shall be the Rated Final Distribution Date. The Class R-III Certificates will have no principal balances and no pass-through rate, but will be entitled to receive on each Distribution Date any portion of the REMIC III Distribution Amount for such Distribution Date not otherwise deemed distributed on the REMIC III Regular Certificates.

REMIC II Regular Interests. INITIAL REMIC II INITIAL UNCERTIFICATED DESIGNATION REMITTANCE RATE PRINCIPAL BALANCE -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- A-1 7.497.709% $101,000,000 -------------------------------------------------------------------------------------------- 171,000,000 -------------------------------------------------------------------------------- A-2 7.497.709% $339,885,000 -------------------------------------------------------------------------------------------- 532,326,000 -------------------------------------------------------------------------------- B 7.497.709% $ 33,185,000 -------------------------------------------------------------------------------------------- $43,062,000 -------------------------------------------------------------------------------- C 7.497.709% $ 26,864,000 -------------------------------------------------------------------------------------------- $47,846,000 -------------------------------------------------------------------------------- D 7.497.709% $ 12,642,000 -------------------------------------------------------------------------------------------- $11,962,000 -------------------------------------------------------------------------------- E 7.497.709% $ 30,025,000 -------------------------------------------------------------------------------------------- $35,885,000 -------------------------------------------------------------------------------- F 7.497.709% $ 14,222,000 -------------------------------------------------------------------------------------------- $14,354,000 -------------------------------------------------------------------------------- G 7.497.709% $ 20,543,000 -------------------------------------------------------------------------------------------- $26,316,000 -------------------------------------------------------------------------------- H 7.497.709% $ 7,901,000 -------------------------------------------------------------------------------------------- $19,139,000 -------------------------------------------------------------------------------- J 7.497.709% $ 9,481,000 -------------------------------------------------------------------------------------------- $9,570,000 -------------------------------------------------------------------------------- K 7.497.709% $ 7,902,000 -------------------------------------------------------------------------------------------- $7,177,000 -------------------------------------------------------------------------------- L 7.497.709% $ 6,321,000 -------------------------------------------------------------------------------------------- $9,570,000 -------------------------------------------------------------------------------- M 7.497.709% $ 6,321,000 -------------------------------------------------------------------------------------------- $9,570,000 -------------------------------------------------------------------------------- N 7.497.709% $ 9,481,000 -------------------------------------------------------------------------------------------- O 7.49% $ 6,321,383 -------------------------------------------------------------------------------------------- $19,139,238 -------------------------------------------------------------------------------- REMIC III As provided herein, the Trustee will make the election described in Section 12.1 for the segregated pool of assets hereof consisting of the REMIC II Regular Interests to be treated for federal income tax purposes as a separate REMIC (such particular pool of assets, "REMIC III"). The REMIC III Regular Certificates (and, in the case of the Class O N Certificates, the Class O N REMIC Interest represented by the Class O N Certificates) will be designated as representing the "regular interests" in REMIC III and the Class R-III Certificates will be designated as representing the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions. Sixteen Fifteen separate Classes of REMIC III Regular Certificates will be issued, which will represent in the aggregate thirty twenty-nine separate "regular interests" in REMIC III. The following table irrevocably sets forth the designation, the pass-through rate (the "PASS-THROUGH RATE") and the initial aggregate principal balance (the "CLASS PRINCIPAL BALANCE") for each Class of REMIC III Regular Certificates. For purposes of Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" of each Class of REMIC III Regular Certificates shall be the Rated Final Distribution Date. The Class R-III Certificates will have no principal balances and no pass-through rate, but will be entitled to receive on each Distribution Date any portion of the REMIC III Distribution Amount for such Distribution Date not otherwise deemed distributed on the REMIC III Regular Certificates.