Common use of Class P REMIC Clause in Contracts

Class P REMIC. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Class P Regular Interest in the Master REMIC as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as the “Class P REMIC.” The Class P REMIC shall also issue the Class R-X2 Interest, which shall evidence the sole class of “residual interests” in the Class P REMIC for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, and the initial aggregate Certificate Principal Balance for the indicated Class of Certificates. Designation Pass-Through Rate Initial Aggregate Certificate Principal Balance Latest Possible Maturity Date(1) Class P (2) (2) April 25, 2046 _______________

Class P REMIC. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Class P Regular Interest in interest issued by the Master REMIC as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as the “Class P REMIC.” The Class P REMIC shall also issue the Class R-X2 XP Interest, which shall evidence the sole class of “residual interests” in the Class P REMIC for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, and the initial aggregate Certificate Principal Balance for the indicated Class of Certificates. Designation Pass-Through Rate Initial Aggregate Certificate Principal Balance Latest Possible Maturity Date(1) Class P (2) (2) April March 25, 2046 2047 _______________

Class P REMIC. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Class P Regular Interest in interest issued by the Master REMIC as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as the “Class P REMIC.” The Class P REMIC shall also issue the Class R-X2 XP Interest, which shall evidence the sole class of “residual interests” in the Class P REMIC for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, and the initial aggregate Certificate Principal Balance for the indicated Class of Certificates. Designation Pass-Through Rate Initial Aggregate Certificate Principal Balance Latest Possible Maturity Date(1) Class P (2) (2) April May 25, 2046 2037 _______________