Common use of W I T N E S S E T H T H A T Clause in Contracts

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund (exclusive of any amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 hereof) for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, REMICs ("REMIC 1," "REMIC 2" and the "Master REMIC"). The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Each Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which A-R Certificate, will represent the "ownership of one or more regular interests" interests in the Master REMIC) and REMIC for purposes of the MR Interest as the single "residual interest" in the Master REMICREMIC Provisions. The Class A-R Certificates will represent beneficial Certificate represents ownership of the SR sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the REMIC 2 Regular Interests. REMIC 2 will hold as assets the REMIC 1 Regular Interests. REMIC 1 will hold as assets all property of the Trust Fund other than the interests in REMIC 1. For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each REMIC 1 Regular Interest and REMIC 2 Regular Interest, IR Interest as defined below, is designated as a regular interest in REMIC 1 and the MR InterestREMIC 2, respectively. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 hereof will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created hereunder. The Master Supplemental Interest Trust, the Supplemental Interest Reserve Fund and the Corridor Contract shall not constitute any part of any REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================described herein.

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary Intermediate REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by (i) the Subsidiary REMIC Regular Interests (whichInterests, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and (ii) the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest Interests (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Integral Class M-2 Multiples in Certificate Pass-Through Minimum Excess of Balance Rate Denomination Minimum ----------------------------------------------------------------------------------- Class A-1 $5,687,800 7.00%(2)(3128,244,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ----------------------------------------------------------------------------------- Class B A-2 $4,063,000 7.00%(2)(362,191,000 4.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ----------------------------------------------------------------------------------- Class A-3 $115,000,000 5.04%(2) $25,000 $1,000 ----------------------------------------------------------------------------------- Class A-4 $41,862,000 5.99%(2) $25,000 $1,000 ----------------------------------------------------------------------------------- Class A-5 $32,703,000 6.23%(2)(3) $25,000 $1,000 ----------------------------------------------------------------------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ----------------------------------------------------------------------------------- Class A-R $100.00 N/A $100 N/A ----------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- Class M-1 $11,000,000 5.46%(2)(3) $25,000 $1,000 ----------------------------------------------------------------------------------- Class M-2 $6,000,000 5.85%(2)(3) $25,000 $1,000 ----------------------------------------------------------------------------------- Class B $3,000,000 6.20%(2)(3) $25,000 $1,000 ----------------------------------------------------------------------------------- Class OC N/A (6) N/A $1,000 ----------------------------------------------------------------------------------- Class P $1,000 100.00 (7) N/A N/A ========================= ======================= ======================= ======================= ===========================================================

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) two REMICs (the "Uncertificated Subsidiary REMIC Regular Interests") Lower Tier REMIC" and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC"). The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates Each Certificate, other than the Class P Certificates (which A-R Certificate, will represent the "ownership of one or more regular interests" interests in the Master REMIC) and REMIC for purposes of the MR Interest as the single "residual interest" in the Master REMICREMIC Provisions. The Class A-R Certificates will represent beneficial Certificate represents ownership of the SR sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the Lower Tier REMIC Regular Interests. The Lower Tier REMIC will hold as assets all property of the Trust Fund other than the interests in the Lower Tier REMIC. For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each Lower Tier REMIC Regular Interest, IR Interest and as defined below, is designated as a regular interest in the MR InterestLower Tier REMIC. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created hereunder. The Master Supplemental Interest Trust, the Supplemental Interest Reserve Fund and the Corridor Contract shall not constitute any part of any REMIC described herein. Lower Tier REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate Lower Tier REMIC Regular Interests: Lower Tier REMIC Regular Allocation of each Class Allocation of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Interests Principal Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Interest Principal --------- ----------------- ----------------- -------- --------- LT-A-1 (1) 6.50% Class A-1, A-2 Class A-1 $94,000,000 Variable(1LT-A-3 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ▇.▇▇% ▇▇▇▇▇ ▇-▇ Class A-3 $30,300,000 6.75%(2LT-A-4 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.50% ▇▇▇▇▇ ▇-▇ Class A-4 $32,100,000 7.00%(2LT-A-5 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.50% ▇▇▇▇▇ ▇-▇ Class A-5 $43,836,000 7.00%(2)(3LT-A-6 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.50% ▇▇▇▇▇ ▇-▇ Class A-6 LT-A-7 (1) 6.50% ▇▇▇▇▇ ▇-▇ Class A-7 LT-PO (1) 0.00% ▇/▇ Class PO LT-A-X (1) 6.50% Class A-IO X N/A LT-$100 (41) 2.506.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 Class A-R LT-B-1 (1) 6.50% Class B-1 Class B-1 LT-B-2 (1) 6.50% Class B-2 Class B-2 LT-B-3 (1) 6.50% Class B-3 Class B-3 Lower Tier REMIC Regular Allocation of Allocation of Interests Principal Balance Pass-Through Rate Interest Principal --------- ----------------- ----------------- -------- --------- LT-B-4 (1) 6.50% Class B-4 Class B-4 LT-B-5 (1) 6.50% Class B-5 Class B-5 LT-B-6 (1) 6.50% Class B-6 Class B-6 LT-P (1) N/A(2) N/A $100 Class P LT-R (3) N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================N/A

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided in this Agreement, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding other than the Pre-Funding Account, Account and the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as Interest, which will be the single sole "residual interest" in the Subsidiary REMIC, each of which (other than the SR Interest) will represent ownership of the Subsidiary REMIC (each of the Subsidiary REMIC Regular Interest and the SR Interest is referred to as a "Subsidiary Interest"). The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests) and will represent the "regular interests" in the Master REMIC) , and the MR Interest as will be the single sole "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Change Date for each Subsidiary REMIC Regular Interest: -------------------- -------------------- ---------------------- -------------------------- Initial Class Initial Pass-Through Corresponding Master Class Designation Certificate Balance Rate REMIC Interests -------------------- -------------------- ---------------------- -------------------------- Class SA1 (1) 3.75% Class A-1 $94,000,000 Variable(1-------------------- -------------------- ---------------------- -------------------------- Class SA2 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 7.00% Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- and Class A-3 $30,300,000 6.75%(2-------------------- -------------------- ---------------------- -------------------------- Class SA4 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 2.65% Class A-4 $32,100,000 7.00%(2-------------------- -------------------- ---------------------- -------------------------- Class SA5 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 4.25% Class A-5 $43,836,000 7.00%(2)(3-------------------- -------------------- ---------------------- -------------------------- Class SR (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.504.75% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------- -------------------- ---------------------- -------------------------- Class M-1 $7,313,000 7.00%(2)(3SB1 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= 4.75% Class M-2 $5,687,800 7.00%(2)(3B-1 -------------------- -------------------- ---------------------- -------------------------- Class SB2 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 4.75% Class B $4,063,000 7.00%(2)(3B-2 -------------------- -------------------- ---------------------- -------------------------- Class SB3 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 4.75% Class OC N/A B-3 -------------------- -------------------- ---------------------- -------------------------- Class SB4 (61) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================4.75% Class B-4 -------------------- -------------------- ---------------------- -------------------------- Class SB5 (1) 4.75% Class B-5 -------------------- -------------------- ---------------------- -------------------------- Class SB6 (1) 4.75% Class B-6 -------------------- -------------------- ---------------------- -------------------------- Class SPO (1) 0.00% Class PO -------------------- -------------------- ---------------------- --------------------------

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided herein, the Trustee will elect that the Trust Fund (except for the Prefunding Account and the Capitalized Interest Account) be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust except for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, Prefunding Account and the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee ; each of which (other than the Class SR Certificate) will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit represent ownership of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate Subsidiary REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests), and which will represent the "regular interests" in the Master REMIC) and the . The MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum Change Date for each Subsidiary REMIC Regular Interest: ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Initial Class Initial Pass-Through Corresponding Master REMIC Class Designation Certificate Balance Rate Interests ------------------------ ------------------------- -------------------------- -------------------------------- Class SA1 (1) 5.75% Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- and Class A-R $100.00 N/A $100 N/A ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class M-1 $7,313,000 7.00%(2)(3SA2 (1) $25,000 $1,000 5.15% Class A-2 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= -------------------------- -------------------------------- Class M-2 $5,687,800 7.00%(2)(3SA3 (1) $25,000 $1,000 5.25% Class A-3 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class B $4,063,000 7.00%(2)(3SA4 (1) $25,000 $1,000 5.75% Class A-4 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class OC N/A SA5 (61) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================4.40% Class A-5 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA6 (1) 8.50% Class A-6 and Class A-7 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA8 (1) 5.00% Class A-8 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA9 (1) 5.75% Class A-9 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA10 (1) 5.75% Class A-10 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA11 (1) 5.75% Class A-11 and Class A-12 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA13 (1) 4.75% Class A-13 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA14 (1) 6.00% Class A-14 ------------------------ ------------------------- -------------------------- --------------------------------

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T [SUBJECT TO SIDLEY TAX REVIEW] The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund (exclusive of any amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to Section 3.20(b) and any amounts in respect of waived Late Payment Fees paid by the Servicer to the Class L Certificates pursuant to Section 3.21(b)) for federal income tax purposes will consist of three REMICs: the Subsidiary REMICREMICs ( "REMIC 1", the Intermediary REMIC, "REMIC 2" and the "Master REMIC"). The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Each Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which A-R Certificate, will represent the "ownership of one or more regular interests" interests in the Master REMIC) and REMIC for purposes of the MR Interest as the single "residual interest" in the Master REMICREMIC Provisions. The Class A-R Certificates will represent beneficial Certificate represents ownership of the SR sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the REMIC 2 Regular Interests. REMIC 2 will hold as assets the REMIC 1 Regular Interests. REMIC 1 will hold as assets all property of the Trust Fund other than the interests in any REMIC created under this Agreement. For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each REMIC 1 Regular Interest and REMIC 2 Regular Interest, IR Interest as defined below, is designated as a regular interest in REMIC 1 and the MR InterestREMIC 2, respectively. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will in this Agreement shall be the Latest Possible Maturity Date. The Master All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to Section 3.20(b) will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC The following table sets forth characteristics created hereunder. All amounts in respect of waived Late Payment Fees paid by the Certificates, together with Servicer to the minimum denominations Class L Certificates will be treated as paid directly by the Servicer to the Class L Certificates pursuant to Section 3.21(b) and integral multiples not as paid by or through any REMIC created under this Agreement or by or through the Grantor Trust described in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================this Agreement.

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three two REMICs: the Subsidiary REMIC, the Intermediary REMIC, REMIC and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, Agreements and the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by (i) the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) Interest (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and (ii) the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate Master REMIC. The Intermediate Master REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ===================== ================= ======================= Integral Multiples Class Certificate Minimum in Excess of Balance Pass-Through Rate Denomination Minimum ------------------- --------------------- --------------------- ----------------- ----------------------- Class A $300,800,000 Variable(1) $25,000 $1,000 ------------------- --------------------- --------------------- ----------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------- --------------------- --------------------- ----------------- ----------------------- Class M-1 $11,200,000 Variable(2) $25,000 $1,000 ------------------- --------------------- --------------------- ----------------- ----------------------- Class M-2 $4,000,000 Variable(3) $25,000 $1,000 ------------------- --------------------- --------------------- ----------------- ----------------------- Class B $4,000,000 Variable(4) $25,000 $1,000 ------------------- --------------------- --------------------- ----------------- ----------------------- Class OC N/A (5) N/A $1,000 ------------------- --------------------- --------------------- ----------------- ----------------------- Class P $100.00 (6) N/A N/A =================== ===================== ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================--------------

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided herein, the Trustee will elect that the Trust Fund (except for the Prefunding Account and the Capitalized Interest Account) be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust except for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, Prefunding Account and the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by (a) the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated uncertificated Subsidiary REMIC Regular Interests") and , which will represent the "regular interests" in the Subsidiary REMIC REMIC, and (b) the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee ; each of which (other than the Class SR Certificate) will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit represent ownership of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate Subsidiary REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests), which will represent the "regular interests" in the Master REMIC) and the . The MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================Change Date for each Subsidiary REMIC Regular Interest:

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary Intermediate REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by (i) the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and (ii) the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest Interests (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= =============================== Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-1 $94,000,000 131,382,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-2 $107,700,000 6.18%(2147,290,000 5.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-3 $30,300,000 6.75%(246,280,000 5.94%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-4 $32,100,000 7.00%(242,026,000 6.26%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-5 $43,836,000 7.00%(2)(362,772,000 6.55%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class M-1 $7,313,000 7.00%(2)(39,000,000 6.55%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ------------------------------------------------------------------------------------------------------------------------- Class M-2 $6,750,000 6.55%(2)(3) $25,000 $1,000 ------------------------------------------------------------------------------------------------------------------------- Class B $4,500,000 6.55%(2)(3) $25,000 $1,000 ------------------------------------------------------------------------------------------------------------------------- Class OC N/A $1,000 $1,000 (6) ------------------------------------------------------------------------------------------------------------------------- Class P $100.00 N/A N/A (7) ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =========================================================================

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================):

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided in this Agreement, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC; each of which (other than the Class SR Certificate) will represent ownership of the Subsidiary REMIC (each of the Subsidiary REMIC Regular Interest and the SR Interest is referred to as a "Subsidiary Interest"). The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests), and which will represent the "regular interests" in the Master REMIC) and the . The MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum Change Date for each Subsidiary REMIC Regular Interest: ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Initial Class Initial Pass-Through Corresponding Master REMIC Class Designation Certificate Balance Rate Interests ------------------------ ------------------------- -------------------------- -------------------------------- Class SA1 (1) 5.50% Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- and Class A-R $100.00 N/A $100 N/A ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class M-1 $7,313,000 7.00%(2)(3SA2 (1) $25,000 $1,000 5.50% Class A-2 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= -------------------------- -------------------------------- Class M-2 $5,687,800 7.00%(2)(3SA3 (1) $25,000 $1,000 5.50% Class A-3 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class B $4,063,000 7.00%(2)(3SA4 (1) $25,000 $1,000 4.75% Class A-4 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Class OC N/A SA5 (61) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================5.50% Class A-5 and Class A-6 ------------------------ ------------------------- -------------------------- -------------------------------- Class SA7 (1) 5.50% Class A-7 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB1 (1) 5.50% Class B-1 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB2 (1) 5.50% Class B-2 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB3 (1) 5.50% Class B-3 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB4 (1) 5.50% Class B-4 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB5 (1) 5.50% Class B-5 ------------------------ ------------------------- -------------------------- -------------------------------- Class SB6 (1) 5.50% Class B-6 ------------------------ ------------------------- -------------------------- --------------------------------

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided herein, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee ; each of which (other than the Class SR Certificate) will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit represent ownership of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate Subsidiary REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Master REMIC regular interests), and which will represent the "regular interests" in the Master REMIC) and the . The MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Change Date for each Subsidiary REMIC Regular Interest: Initial Class Initial Class Certificate Pass-Through Corresponding Master Designation Balance Rate REMIC Interests ---------------------------------------------------------------------------- Class S1A1 (1) 5.75 Class 1-A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- and Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3S2A1 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= 5.75 Class M-2 $5,687,800 7.00%(2)(32-A-1 Class S2A2 (▇) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ▇.75 Class B $4,063,000 7.00%(2)(32-A-2 Class S2A3 (▇) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ▇.75 Class OC N/A 2-A-3 Class S2A4 (6▇) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================▇.75 Class 2-A-4 Class S2A5 (▇) ▇.75 Class 2-A-5 Class S1B1 (1) 5.75 Class B-1-1 Class S1B2 (1) 5.75 Class B-2-1 Class S1B3 (1) 5.75 Class B-3-1

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided in this Agreement, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as Interest, which will be the single sole "residual interest" in the Subsidiary REMIC (each of the Subsidiary REMIC Regular Interest and the SR Interest is referred to as a "Subsidiary Interest"). The Subsidiary REMIC Regular Interests will represent ownership of the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which and will represent the "regular interests" in the Master REMIC) , and the MR Interest as will be the single sole "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Change Date for each Subsidiary REMIC Regular Interest: Initial Class Initial Pass-Through Corresponding Master Class Designation Certificate Balance Rate REMIC Interests Class SA1 (1) 4.25% Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- and Class A-R $100.00 Class SA2 (1) 8.50% Class A-2 and Class A-3 Class SA4 (1) 5.75% Class A-4 Class SA5 (1) 5.75% Class A-5 Class SA6 (1) 5.75% Class A-6 Class SA7 (1) 5.75% Class A-7 Class SA8 (1) 5.75% Class A-8 Class SA9 (1) 6.00% Class A-9 Class SB1 (1) 5.75% Class B-1 Class SB2 (1) 5.75% Class B-2 Class SB3 (1) 5.75% Class B-3 Class SB4 (1) 5.75% Class B-4 Class SB5 (1) 5.75% Class B-5 Class SB6 (1) 5.75% Class B-6 Class SPO (1) 0.00% Class PO Class SP (1) 0.00%(2) Class P Class SAX (3) (3) Class A-X Class SR N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================A

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) two REMICs (the "Uncertificated Subsidiary REMIC Regular Interests") Lower Tier REMIC" and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC"). The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates Each Certificate, other than the Class P Certificates (which A-R Certificate, will represent the "ownership of one or more regular interests" interests in the Master REMIC) and REMIC for purposes of the MR Interest as the single "residual interest" in the Master REMICREMIC Provisions. The Class A-R Certificates will represent beneficial Certificate represents ownership of the SR sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the Lower Tier REMIC Regular Interests. The Lower Tier REMIC will hold as assets all property of the Trust Fund other than the interests in the Lower Tier REMIC. For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each Lower Tier REMIC Regular Interest, IR Interest and as defined below, is designated as a regular interest in the MR InterestLower Tier REMIC. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created hereunder. The Master Supplemental Interest Trust, the Supplemental Interest Reserve Fund and the Corridor Contract shall not constitute any part of any REMIC described in this Agreement. Lower Tier REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================Lower Tier REMIC Regular Interests:

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided in this Agreement, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee ; each of which (other than the Class SR Certificate) will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit represent ownership of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate Subsidiary REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests), and which will represent the "regular interests" in the Master REMIC) and the . The MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (4) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================Change Date for each Subsidiary REMIC Regular Interest:

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The As provided in this Agreement, the Trustee will elect that the Trust Fund be treated for federal income tax purposes will consist of three REMICs: the Subsidiary as comprising two real estate mortgage investment conduits (each, a "REMIC, the Intermediary REMIC, and the Master REMIC"). The Subsidiary REMIC will consist hold as assets all property of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of other than the Class P Certificate, but excluding the Pre-Funding A-8 Rounding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Prepayment Reserve Fund and the Available Funds Cap Relief Act Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate which will be uncertificated) (the "Uncertificated Subsidiary REMIC Regular Interests") uncertificated and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as Interest, which will be the single sole "residual interest" in the Subsidiary REMIC, each of which (other than the SR Interest) will represent ownership of the Subsidiary REMIC (each of the Subsidiary REMIC Regular Interest and the SR Interest is referred to as a "Subsidiary Interest"). The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (except in the case of the Subordinated Certificates, which will be represented by two Subsidiary REMIC regular interests) and will represent the "regular interests" in the Master REMIC) , and the MR Interest as will be the single sole "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will herein shall be the Latest Possible Maturity Date. The Master Subsidiary REMIC The following table sets forth characteristics of Class Designation, the CertificatesInitial Principal Balance, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate, and the Rate Minimum Denomination Excess of Minimum Change Date for each Subsidiary REMIC Regular Interest: ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- -------------------------- -------------------------------- Initial Class Initial Pass-Through Corresponding Master REMIC Class Designation Certificate Balance Rate Interests ------------------------ ------------------------- -------------------------- -------------------------------- SA-1 (1) 5.50% A-1 $94,000,000 Variable(1------------------------ ------------------------- -------------------------- -------------------------------- SA-2 (1) $25,000 $1,000 5.50% A-2, A-3 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2-------------------------- -------------------------------- SA-4 (1) $25,000 $1,000 5.50% A-3, A-4 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(2-------------------------- -------------------------------- SA-5 (1) $25,000 $1,000 5.50% A-5 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(2-------------------------- -------------------------------- SA-6 (1) $25,000 $1,000 5.50% A-6 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(3-------------------------- -------------------------------- SA-7 (1) $25,000 $1,000 5.50% A-7 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-------------------------- -------------------------------- SA-8 (1) 5.45% A-8, A-9 ------------------------ ------------------------- -------------------------- -------------------------------- SA-10 (1) (3) A-10 ------------------------ ------------------------- -------------------------- -------------------------------- SA-11 (1) (3) A-11 ------------------------ ------------------------- -------------------------- -------------------------------- SA-12 (1) 5.50% A-12 ------------------------ ------------------------- -------------------------- -------------------------------- SA-13 (1) (3) A-13 ------------------------ ------------------------- -------------------------- -------------------------------- SA-14 (1) (3) A-14 ------------------------ ------------------------- -------------------------- -------------------------------- ------------------------ ------------------------- -------------------------- -------------------------------- S-IO PO (1) 0% PO ------------------------ ------------------------- -------------------------- -------------------------------- SA-X (1) (4) 2.50A-X ------------------------ ------------------------- -------------------------- -------------------------------- S-$100 (1) 5.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3-------------------------- -------------------------------- SB-1 (1) $25,000 $1,000 5.50% B-1 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3-------------------------- -------------------------------- SB-2 (1) $25,000 $1,000 5.50% B-2 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3-------------------------- -------------------------------- SB-3 (1) $25,000 $1,000 5.50% B-3 ------------------------ ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A -------------------------- -------------------------------- SB-4 (61) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================5.50% B-4 ------------------------ ------------------------- -------------------------- -------------------------------- SB-5 (1) 5.50% B-5 ------------------------ ------------------------- -------------------------- -------------------------------- SB-6 (1) 5.50% B-6 ------------------------ ------------------------- -------------------------- -------------------------------- S-P (2) 0% P ------------------------ ------------------------- -------------------------- --------------------------------

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein containedset forth in this Agreement, the parties agree as follows: P R E L I M I N A R Y S T A T E M E N T The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund (exclusive of the Yield Maintenance Agreements, Yield Maintenance Reserve Funds, Pre-Funding Account, Capitalized Interest Account, Final Maturity Reserve Fund and any amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 hereof) for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) two REMICs (the "Uncertificated Subsidiary REMIC Regular Interests") Lower Tier REMIC" and will represent the "regular interests" in the Subsidiary REMIC and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC"). The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates Each Certificate, other than the Class P Certificates (which A-R Certificate, will represent the "ownership of one or more regular interests" interests in the Master REMIC) and REMIC for purposes of the MR Interest as the single "residual interest" in the Master REMICREMIC Provisions. The Class A-R Certificates will represent beneficial Certificate represents ownership of the SR sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the Lower Tier Regular Interests. The Lower Tier REMIC will hold as assets all property of the Trust Fund (exclusive of the Yield Maintenance Agreement and Yield Maintenance Reserve Fund). For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each Lower Tier Regular Interest, IR Interest and as defined below, is designated as a regular interest in the MR InterestLower Tier REMIC. The "latest possible maturity date" for federal income tax purposes date of all REMIC regular interests created hereby will in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 hereof will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created hereunder. The Master Lower Tier REMIC The following table sets forth characteristics of the CertificatesLower Tier Regular Interests: ============================ ==================== ================== ================== ============================ Class Principal Allocation of Class Designation Balance Pass-Through Rate Interest Allocation of Principal ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-1 (1) 6.00% Class A-1, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable Class A-1 Class A-2 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-3 (except that one Certificate of each 1) 6.00% Class of Certificates may be issued in a different amount andA-3 Class A-3 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-4 (1) 6.00% Class A-4 Class A-4 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-5 (1) 6.00% Class A-5, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): Class A-5 Class A-6 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-7 (1) 6.00% Class A-7 Class A-7 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-8 (1) 6.00% Class A-8 Class A-8 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-9 (1) 6.00% Class A-9 Class A-9 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-10 (1) 6.00% Class A-10 Class A-10 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-11 (1) 6.00% Class A-11 Class A-11 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-12 (1) 6.00% Class A-12 Class A-12 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-13 (1) 6.00% Class A-13 Class A-13 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-PO (1) 0.00% Class PO Class PO ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-A-X (1) Variable(2) Class A-X Class A-X ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-$100 (1) Variable(3) Class A-R Class A-R ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-B-1 (1) 6.00% Class B-1 Class B-1 ============================ ==================== ================== ================== ============================ ============================ ==================== ================== ================== ======================= ======================= Class Certificate Integral Multiples in Balance Pass1-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- B-2 (1) 6.00% Class A-1 $94,000,000 Variable(1B-2 Class B-2 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-B-3 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.00% Class A-2 $107,700,000 6.18%(2B-3 Class B-3 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-B-4 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.00% Class A-3 $30,300,000 6.75%(2B-4 Class B-4 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-B-5 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.00% Class A-4 $32,100,000 7.00%(2B-5 Class B-5 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-B-6 (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 6.00% Class A-5 $43,836,000 7.00%(2)(3B-6 Class B-6 ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class 1-P (1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- 0.000%(4) Class A-IO (4P Class P ---------------------------- -------------------- ------------------ ------------------ ---------------------------- Class R-1(5) 2.50% $25,000(5) $1,000(5) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N▇/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ▇ ▇/▇ ▇/▇ ============================ ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(3) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A (6) $1,000 $1,000 ========================= ======================= ======================= ======================= ============================

W I T N E S S E T H T H A T. In consideration of the mutual agreements herein contained, the parties agree as follows: The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. The Trust Fund for federal income tax purposes will consist of three REMICs: the Subsidiary REMIC, the Intermediary Intermediate REMIC, and the Master REMIC. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Pre-Funding Account, the Capitalized Interest Account, the Yield Maintenance Agreement, the Carryover Reserve Fund and the Available Funds Cap Net WAC Shortfall Reserve Fund) and will be evidenced by the Subsidiary REMIC Regular Interests (which, excluding the Class P Certificate will be uncertificated) uncertificated (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC REMIC) and the SR Interest as the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Uncertificated Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Uncertificated Subsidiary REMIC Regular Interests and will be evidenced by the Intermediate REMIC Regular Interest (which will represent the "regular interests" in the Intermediate REMIC) and the IR Interest as the single "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Intermediate REMIC Regular Interests and will be evidenced by the Regular Certificates other than the Class P Certificates (which will represent the "regular interests" in the Master REMIC) and the MR Interest as the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Latest Possible Maturity Date. The Master REMIC The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): ========================= ======================= ======================= ======================= ======================= Class Certificate Integral Multiples in Balance Pass-Through Rate Minimum Denomination Excess of Minimum ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-1 $94,000,000 153,340,000 Variable(1) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-2 $107,700,000 6.18%(2163,208,000 5.35%(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-3 $30,300,000 6.75%(251,733,000 6.13%(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-4 $32,100,000 7.00%(245,748,000 6.59%(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-5 $43,836,000 7.00%(2)(370,071,000 6.86%(4)(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-IO (42) 2.505.75% $25,000(525,000(3) $1,000(51,000(3) ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class A-R $100.00 N/A $100 N/A ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class M-1 $7,313,000 7.00%(2)(311,588,000 6.69%(4)(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- ========================= ======================= ======================= ======================= ======================= Class M-2 $5,687,800 7.00%(2)(310,300,000 7.00%(4)(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class B $4,063,000 7.00%(2)(39,012,000 7.00%(4)(6) $25,000 $1,000 ------------------------- ----------------------- ----------------------- ----------------------- ----------------------- Class OC N/A $0 (65) $1,000 $1,000 ========================= ======================= ======================= ======================= =======================