Common use of REMIC III Clause in Contracts

REMIC III. As provided herein, the Trust Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests and certain other related assets (exclusive of the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds, the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Accounts, the Prefunding Account and the Capitalized Interest Account) subject to this Agreement as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC III." Component I of the Class AR Certificates will represent the sole Class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC III Pass-Through Rate") and initial Uncertificated Principal Balance for each of the "regular interests" in REMIC III (the "REMIC III Regular Interests") and Component I of the Class AR Certificates. The "latest possible maturity date" (determined solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for each REMIC III Regular Interest shall be the Maturity Date. None of the REMIC III Regular Interests will be certificated. Class Designation for each REMIC III Regular Interest and Uncertificated Initial Component I of REMIC III Uncertificated the Class AR Type of Pass-Through Principal Certificates Interest Rate Balance Final Maturity Date* Class 1-A-1L Regular Variable(1) $47,485,000.00 February 2035 Class 2-A-1L Regular Variable(2) $25,000,000.00 February 2035 Class 2-A-2L Regular Variable(2) $31,840,000.00 February 2035 Class 3-A-1L Regular Variable(3) $89,120,000.00 February 2035 Class 4-A-1L Regular Variable(4) $21,705,000.00 February 2035 Class 4-A-2L Regular Variable(4) $7,720,000.00 February 2035 Class 4-A-3L Regular Variable(4) $6,000,000.00 February 2035 Class 5-A-1L Regular Variable(5) $110,900,000.00 February 2035 Class 6-A-1L Regular Variable(6) $178,510,000.00 February 2035 Class C-B-1L Regular Variable(7) $26,760,000.00 February 2035 Class C-B-2L Regular Variable(7) $8,170,000.00 February 2035 Class C-B-3L Regular Variable(7) $3,380,000.00 February 2035 Class C-B-4L Regular Variable(7) $2,250,000.00 February 2035 Class C-B-5L Regular Variable(7) $2,820,000.00 February 2035 Class C-B-6L Regular Variable(7) $1,696,872.74 February 2035 Class LT-1 Regular Variable(8) $107,628,953.06 February 2035 Class LT-2 Regular Variable(8) $2,198.82 February 2035 Class LT-3 Regular 0.00% $8,571.39 February 2035 Class LT-4 Regular Variable(9) $8,571.39 February 2035 Class LT-Y7A Regular Variable(10) $53,851.07 February 2035 Class LT-Y7B Regular Variable(11) $170,967.44 February 2035 Class LT-5 Regular Variable(12) $342,240,306.94 February 2035 Class LT-6 Regular Variable(12) $6,701.06 February 2035 Class LT-7 Regular 0.00% $27,546.25 February 2035 Class LT-8 Regular Variable(13) $27,546.25 February 2035 Class IOL Regular Variable(14) $0.00 February 2035 Component I of the Class AR Residual Variable(1) $50.00 February 2035

REMIC III. As provided herein, the Trust Securities Administrator on behalf of the Trustee will make an election elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests and certain other related assets (exclusive of the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds, the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Accounts, the Prefunding Account and the Capitalized Interest Account) subject to this Agreement as a real estate mortgage investment conduit (a "REMIC") REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "“REMIC III." Component I of the ”. The Class AR R-3 Certificates will represent the sole Class class of "residual interests" Residual Interests in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax lawProvisions. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC III Pass-Through Rate") and , Initial Certificate Principal Balance (or initial Uncertificated Principal Balance for each of Balance, in the "regular interests" in REMIC III (the "REMIC III Regular Interests") and Component I case of the Class AR Certificates. The "latest possible maturity date" (determined solely C Interest and the Class IO Interest) and, for purposes of satisfying Treasury regulation Regulation Section 1.860G-1(a)(4)(iii)) , the “latest possible maturity date” for each class of Certificates and interests that represents ownership of one or more of the Regular Interests in REMIC III created hereunder. Each Certificate, other than the Class C Certificates and Class R Certificates, represents ownership of a Regular Interest in REMIC III and also represents (i) the right to receive certain amounts specified herein in respect of Basis Risk Shortfall Carry Forward Amounts (as defined herein) and (ii) the obligation to pay Class IO Distribution Amounts (as defined herein). The entitlement to principal of the Regular Interest which corresponds to each Certificate shall be equal in amount and timing to the Maturity Dateentitlement to principal of such Certificate. None Each Class C Certificate represents ownership of the a Regular Interest in REMIC III Regular Interests will be certificatedand also represents (i) the obligation to pay certain amounts specified herein in respect of Basis Risk Shortfall Carry Forward Amounts and (ii) the right to receive Class IO Distribution Amounts. Class Designation for each REMIC III Regular Interest and Uncertificated Initial Component I of REMIC III Uncertificated the Class AR Type of Pass-Through Principal Certificates Interest Rate Balance Final Maturity Date* Class 1-A-1L Regular Variable(1A(4) $47,485,000.00 February 2035 Class 2-A-1L Regular Variable(2) $25,000,000.00 February 2035 Class 2-A-2L Regular $ 439,629,000.00 June 25, 2036 M-1(4) Variable(2) $31,840,000.00 February 2035 $ 32,858,000.00 June 25, 2036 M-2(4) Variable(2) $ 29,511,000.00 June 25, 2036 M-3(4) Variable(2) $ 13,691,000.00 June 25, 2036 M-4(4) Variable(2) $ 13,387,000.00 June 25, 2036 M-5(4) Variable(2) $ 10,953,000.00 June 25, 2036 M-6(4) Variable(2) $ 9,736,000.00 June 25, 2036 Class 3-A-1L Regular Variable(3C Interest Variable(2)(3) $89,120,000.00 February 2035 Class 4-A-1L Regular Variable(4) $21,705,000.00 February 2035 Class 4-A-2L Regular Variable(4) $7,720,000.00 February 2035 Class 4-A-3L Regular Variable(4) $6,000,000.00 February 2035 Class 5-A-1L Regular Variable(5) $110,900,000.00 February 2035 Class 6-A-1L Regular Variable(6) $178,510,000.00 February 2035 Class C-B-1L Regular Variable(7) $26,760,000.00 February 2035 Class C-B-2L Regular Variable(7) $8,170,000.00 February 2035 Class C-B-3L Regular Variable(7) $3,380,000.00 February 2035 Class C-B-4L Regular Variable(7) $2,250,000.00 February 2035 Class C-B-5L Regular Variable(7) $2,820,000.00 February 2035 Class C-B-6L Regular Variable(7) $1,696,872.74 February 2035 Class LT-1 Regular Variable(8) $107,628,953.06 February 2035 Class LT-2 Regular Variable(8) $2,198.82 February 2035 Class LT-3 Regular 0.00% $8,571.39 February 2035 Class LT-4 Regular Variable(9) $8,571.39 February 2035 Class LT-Y7A Regular Variable(10) $53,851.07 February 2035 Class LT-Y7B Regular Variable(11) $170,967.44 February 2035 Class LT-5 Regular Variable(12) $342,240,306.94 February 2035 Class LT-6 Regular Variable(12) $6,701.06 February 2035 Class LT-7 Regular 0.00% $27,546.25 February 2035 Class LT-8 Regular Variable(13) $27,546.25 February 2035 Class IOL Regular Variable(14) $0.00 February 2035 Component I of the Class AR Residual Variable(1) $50.00 February 2035$ 27,381,946.67 June 25, 2036 ______________________________________

REMIC III. As provided herein, the Trust Securities Administrator on behalf of the Trustee will make an election elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests and certain other related assets (exclusive of the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds, the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Accounts, the Prefunding Account and the Capitalized Interest Account) subject to this Agreement as a real estate mortgage investment conduit (a "REMIC") REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "“REMIC III." Component I of the ”. The Class AR R-3 Certificates will represent the sole Class class of "residual interests" Residual Interests in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax lawProvisions. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC III Pass-Through Rate") and , Initial Certificate Principal Balance (or initial Uncertificated Principal Balance for each of Balance, in the "regular interests" in REMIC III (the "REMIC III Regular Interests") and Component I case of the Class AR Certificates. The "latest possible maturity date" (determined solely CE, P and IO Interests) and, for purposes of satisfying Treasury regulation Regulation Section 1.860G-1(a)(4)(iii)) , the “latest possible maturity date” for each class of Certificates and interests that represents ownership of one or more of the Regular Interests in REMIC III created hereunder. Each Certificate, other than the Class P, Class CE and Class R Certificates, represents ownership of a Regular Interest in REMIC III and also represents (i) the right to receive payments with respect to Basis Risk Shortfall Carry Forward Amounts (as defined herein) and (ii) the obligation to pay Class IO Distribution Amounts (as defined herein). The entitlement to principal of the Regular Interest which corresponds to each Certificate shall be equal in amount and timing to the Maturity Dateentitlement to principal of such Certificate. None of the REMIC III Regular Interests will be certificated. Class Designation for each REMIC III Regular Interest and Uncertificated Initial Component I of REMIC III Uncertificated the Class AR Type of Pass-Through Rate Initial Certificate or Uncertificated Principal Certificates Balance Latest Possible Maturity Date(1) I-A-1(2) Variable(3 ) $ 183,843,000.00 May 25, 2036 I-A-2(2) Variable(3 ) $ 94,107,000.00 May 25, 2036 I-A-3(2) Variable(3 ) $ 26,790,000.00 May 25, 2036 II-A(2) Variable(3 ) $ 264,889,000.00 May 25, 2036 M-1(2) Variable(3 ) $ 27,751,000.00 May 25, 2036 M-2(2) Variable(3 ) $ 25,560,000.00 May 25, 2036 M-3(2) Variable(3 ) $ 15,336,000.00 May 25, 2036 M-4(2) Variable(3 ) $ 12,780,000.00 May 25, 2036 M-5(2) Variable(3 ) $ 12,780,000.00 May 25, 2036 M-6(2) Variable(3 ) $ 11,685,000.00 May 25, 2036 M-7(2) Variable(3 ) $ 10,954,000.00 May 25, 2036 M-8(2) Variable(3 ) $ 10,224,000.00 May 25, 2036 M-9(2) Variable(3 ) $ 7,303,000.00 May 25, 2036 M-10(2) Variable(3 ) $ 7,303,000.00 May 25, 2036 Class CE Interest Rate Balance Final Maturity Date* Variable(3)(4 ) $ 18,988,736.24 May 25, 2036 Class 1-A-1L Regular Variable(1P Interest 0.00%(5 ) $47,485,000.00 February 2035 $ 100.00 May 25, 2036 Class 2-A-1L Regular Variable(2IO Interest (6 ) $25,000,000.00 February 2035 Class 2-A-2L Regular Variable(2(7 ) $31,840,000.00 February 2035 Class 3-A-1L Regular Variable(3) $89,120,000.00 February 2035 Class 4-A-1L Regular Variable(4) $21,705,000.00 February 2035 Class 4-A-2L Regular Variable(4) $7,720,000.00 February 2035 Class 4-A-3L Regular Variable(4) $6,000,000.00 February 2035 Class 5-A-1L Regular Variable(5) $110,900,000.00 February 2035 Class 6-A-1L Regular Variable(6) $178,510,000.00 February 2035 Class C-B-1L Regular Variable(7) $26,760,000.00 February 2035 Class C-B-2L Regular Variable(7) $8,170,000.00 February 2035 Class C-B-3L Regular Variable(7) $3,380,000.00 February 2035 Class C-B-4L Regular Variable(7) $2,250,000.00 February 2035 Class C-B-5L Regular Variable(7) $2,820,000.00 February 2035 Class C-B-6L Regular Variable(7) $1,696,872.74 February 2035 Class LT-1 Regular Variable(8) $107,628,953.06 February 2035 Class LT-2 Regular Variable(8) $2,198.82 February 2035 Class LT-3 Regular 0.00% $8,571.39 February 2035 Class LT-4 Regular Variable(9) $8,571.39 February 2035 Class LT-Y7A Regular Variable(10) $53,851.07 February 2035 Class LT-Y7B Regular Variable(11) $170,967.44 February 2035 Class LT-5 Regular Variable(12) $342,240,306.94 February 2035 Class LT-6 Regular Variable(12) $6,701.06 February 2035 Class LT-7 Regular 0.00% $27,546.25 February 2035 Class LT-8 Regular Variable(13) $27,546.25 February 2035 Class IOL Regular Variable(14) $0.00 February 2035 Component I of the Class AR Residual Variable(1) $50.00 February 2035May 25, 2036 ___________________

REMIC III. As provided herein, the Trust Securities Administrator on behalf of the Trustee will make an election elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests and certain other related assets (exclusive of the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds, the Class C-B-1, Class 7-A-3, Class 7-A-4 and Class 7-M-4 Interest Rate Cap Accounts, the Prefunding Account and the Capitalized Interest Account) subject to this Agreement as a real estate mortgage investment conduit (a "REMIC") REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "“REMIC III." Component I of the ”. The Class AR R-3 Certificates will represent the sole Class class of "residual interests" Residual Interests in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax lawProvisions. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC III Pass-Through Rate") and , Initial Certificate Principal Balance (or initial Uncertificated Principal Balance for each of Balance, in the "regular interests" in REMIC III (the "REMIC III Regular Interests") and Component I case of the Class AR Certificates. The "latest possible maturity date" (determined solely C Interest and the Class IO Interest) and, for purposes of satisfying Treasury regulation Regulation Section 1.860G-1(a)(4)(iii)) , the “latest possible maturity date” for each class of Certificates and interests that represents ownership of one or more of the Regular Interests in REMIC III created hereunder. Each Certificate, other than the Class C Certificates and Class R Certificates, represents ownership of a Regular Interest in REMIC III and also represents (i) the right to receive certain amounts specified herein in respect of Basis Risk Shortfall Carry Forward Amounts (as defined herein) and (ii) the obligation to pay Class IO Distribution Amounts (as defined herein). The entitlement to principal of the Regular Interest which corresponds to each Certificate shall be equal in amount and timing to the Maturity Dateentitlement to principal of such Certificate. None of the REMIC III Regular Interests will be certificated. Class Designation for each REMIC III Regular Interest and Uncertificated Initial Component I of REMIC III Uncertificated the Class AR Type of Pass-Through Principal Certificates Interest Rate Balance Final Maturity Date* Class 1-A-1L Regular Variable(1A(2) $47,485,000.00 February 2035 Class 2-A-1L Regular Variable(2) $25,000,000.00 February 2035 Class 2-A-2L Regular Variable(2) $31,840,000.00 February 2035 Class 3-A-1L Regular Variable(3) $89,120,000.00 February 2035 $ 351,075,000.00 August 25, 2036 M-1(2) Variable(3) $ 20,108,000.00 August 25, 2036 M-2(2) Variable(3) $ 20,108,000.00 August 25, 2036 M-3(2) Variable(3) $ 7,165,000.00 August 25, 2036 M-4(2) Variable(3) $ 6,471,000.00 August 25, 2036 M-5(2) Variable(3) $ 6,240,000.00 August 25, 2036 M-6(2) Variable(3) $ 6,009,000.00 August 25, 2036 B-1(2) Variable(3) $ 5,316,000.00 August 25, 2036 B-3(2) Variable(3) $ 5,778,000.00 August 25, 2036 Class 4-A-1L Regular Variable(4C Interest Variable(3)(4) $21,705,000.00 February 2035 Class 4-A-2L Regular Variable(4) $7,720,000.00 February 2035 Class 4-A-3L Regular Variable(4) $6,000,000.00 February 2035 Class 5-A-1L Regular Variable(5) $110,900,000.00 February 2035 Class 6-A-1L Regular Variable(6) $178,510,000.00 February 2035 Class C-B-1L Regular Variable(7) $26,760,000.00 February 2035 Class C-B-2L Regular Variable(7) $8,170,000.00 February 2035 Class C-B-3L Regular Variable(7) $3,380,000.00 February 2035 Class C-B-4L Regular Variable(7) $2,250,000.00 February 2035 Class C-B-5L Regular Variable(7) $2,820,000.00 February 2035 Class C-B-6L Regular Variable(7) $1,696,872.74 February 2035 Class LT-1 Regular Variable(8) $107,628,953.06 February 2035 Class LT-2 Regular Variable(8) $2,198.82 February 2035 Class LT-3 Regular 0.00% $8,571.39 February 2035 Class LT-4 Regular Variable(9) $8,571.39 February 2035 Class LT-Y7A Regular Variable(10) $53,851.07 February 2035 Class LT-Y7B Regular Variable(11) $170,967.44 February 2035 Class LT-5 Regular Variable(12) $342,240,306.94 February 2035 Class LT-6 Regular Variable(12) $6,701.06 February 2035 Class LT-7 Regular 0.00% $27,546.25 February 2035 Class LT-8 Regular Variable(13) $27,546.25 February 2035 Class IOL Regular Variable(14) $0.00 February 2035 Component I of the Class AR Residual Variable(1) $50.00 February 2035$ 23,113,008.63 August 25, 2036 ______________________________________

REMIC III. As provided herein, the Trust Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests and certain other related assets (exclusive of any entitlement to Assigned Prepayment Premiums, the Class C-B-1, Class 7-A-3, Class 7-A-4 B-1 and Class 75-M-4 A-3 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds, the Class C-B-1, Class 7-A-3, Class 7-A-4 B-1 and Class 75-M-4 A-3 Interest Rate Cap Accounts, the Prefunding Account and the Capitalized Interest Account) subject to this Agreement as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC III." Component I of the Class AR Certificates will represent the sole Class of "residual interests" in REMIC III for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC III Pass-Through Rate") and initial Uncertificated Principal Balance for each of the "regular interests" in REMIC III (the "REMIC III Regular Interests") and the Class Principal Balance of Component I of the Class AR Certificates. The "latest possible maturity date" (determined solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for each REMIC III Regular Interest shall be the Maturity Date. None of the REMIC III Regular Interests will be certificated. Class Initial Designation for Uncertificated each REMIC III Regular Principal Interest and Uncertificated Initial Balance or Component I of REMIC III Uncertificated Class the Class AR Type of Pass-Through Principal Certificates Interest Rate Balance Final Maturity Date* Class 1-A-1L Regular Variable(1) $47,485,000.00 February 66,590,000.00 March 2035 Class 2-A-1L Regular Variable(2) $25,000,000.00 February 2035 Class 2-A-2L Regular Variable(2) $31,840,000.00 February 149,650,000.00 March 2035 Class 3-A-1L Regular Variable(3) $89,120,000.00 February 94,800,000.00 March 2035 Class 4-A-1L Regular Variable(4) $21,705,000.00 February 2035 Class 4-A-2L Regular Variable(4) $7,720,000.00 February 2035 Class 4-A-3L Regular Variable(4) $6,000,000.00 February 2035 Class 5-A-1L Regular Variable(5) $110,900,000.00 February 2035 Class 6-A-1L Regular Variable(6) $178,510,000.00 February 168,860,000.00 March 2035 Class C-B-1L Regular Variable(7Variable(5) $26,760,000.00 February 23,473,000.00 March 2035 Class C-B-2L Regular Variable(7Variable(5) $8,170,000.00 February 6,517,000.00 March 2035 Class C-B-3L Regular Variable(7Variable(5) $3,380,000.00 February 3,913,000.00 March 2035 Class C-B-4L Regular Variable(7Variable(5) $2,250,000.00 February 2,607,000.00 March 2035 Class C-B-5L Regular Variable(7Variable(5) $2,820,000.00 February 3,394,000.00 March 2035 Class C-B-6L Regular Variable(7Variable(5) $1,696,872.74 February 1,828,091.00 March 2035 Class LT-1 Regular Variable(8Variable(6) $107,628,953.06 February 135,581,275.31 March 2035 Class LT-2 Regular Variable(8Variable(6) $2,198.82 February 2,968.39 March 2035 Class LT-3 Regular 0.00% $8,571.39 February 10,598.89 March 2035 Class LT-4 Regular Variable(9Variable(7) $8,571.39 February 2035 Class LT-Y7A Regular Variable(10) $53,851.07 February 2035 Class LT-Y7B Regular Variable(11) $170,967.44 February 10,598.89 March 2035 Class LT-5 Regular Variable(12Variable(8) $342,240,306.94 February 275,550,093.54 March 2035 Class LT-6 Regular Variable(12Variable(8) $6,701.06 February 6,017.71 March 2035 Class LT-7 Regular 0.00% $27,546.25 February 21,556.00 March 2035 Class LT-8 Regular Variable(9) $21,556.00 March 2035 Class LT-9 Regular Variable(10) $138,627,767.48 March 2035 Class LT-10 Regular Variable(10) $4,438.36 March 2035 Class LT-11 Regular 0.00% $9,433.68 March 2035 Class LT-12 Regular Variable(11) $9,433.68 March 2035 Class LT-Y5A Regular Variable(12) $137,868.55 March 2035 Class LT-Y5B Regular Variable(13) $27,546.25 February 67,277.92 March 2035 Class LT-Y5C Regular Variable(14) $69,360.22 March 2035 Class IOL Regular Variable(14Variable(15) $0.00 February March 2035 Component I of the Class AR Residual Variable(1) $50.00 February March 2035