Common use of Designation of REMIC(s) Clause in Contracts

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-P, Class M-5 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the segregated pool HELs in Loan Group I and the proceeds of assets described the HELs in Loan Group I on deposit in the definition of REMIC I (as defined herein) (including Distribution Account, the Mortgage Loans but excluding Custodial Account and the Yield Maintenance Agreements), and subject to this Agreement, Payment Account as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. Further, the REMIC Administrator shall make an election to treat the pool of assets comprised of the REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interest Interests will be the "regular interestinterests" in REMIC III, ownership of which will be represented by the Class SB Certificates, III and the Class R-X III Certificates will represent be the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under the federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesI-A-1, Class A-2 CertificatesI-A-2, Class A-3 CertificatesI-A-3, Class M-1 CertificatesI-A-4, Class M-2 CertificatesI-A-5, Class M-3 CertificatesI-A-6, Class M-4 CertificatesI-A-7, Class M-5 I-A-8, Class II-A-1, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance AgreementsAgreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesX-0, Xxxxx X-0, Class M-1 CertificatesX, Class M-2 CertificatesM-1, Class M-3 CertificatesM-2, Class M-4 CertificatesM-3, Class M-5 B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be represent "regular interests" in REMIC II, and the Class R-II Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-I-1, Class A-2 CertificatesA-I-2, Class A-3 CertificatesA-II-1, Class M-1 CertificatesA-II-2, Class M-2 CertificatesA-III-1, Class M-3 CertificatesA-III-2, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC (“REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will ”), shall make an election to treat the pool of assets comprised of the uncertificated REMIC I Regular Interests as a REMIC (“REMIC II”) for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II Regular Interests SB-IO and SB-PO as a REMIC (“REMIC III”) for federal income tax purposes. The REMIC I Regular Interests will be "“regular interests" ” in REMIC I and the Class R-I Certificates will be the sole class of "“residual interests" ” in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "“regular interests" ” in REMIC II, and the Class R-II Certificates will represent be the sole class of "“residual interests" in REMIC II ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, will be the "“regular interest" interests” in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X III Certificates will represent be the sole class of "“residual interests" in REMIC III ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class M-2 CertificatesA-5, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Estate (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsPre-Funding Account and the Capitalized Interest Account), and subject to this AgreementAgreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.[Signature Page Follows]

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) except for the Reserve Fund and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesCB, Class A-2 CertificatesNB-1, Class A-3 CertificatesNB-2, Class M-1 CertificatesNB-3, Class M-2 CertificatesA-P, Class M-3 CertificatesM-1, Class M-4 CertificatesM-2, Class M-5 M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-5A, Class M-4 CertificatesA-6, Class M-5 A-7, Class A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-I, Class A-2 CertificatesCB, Class A-3 CertificatesA-P, Class M-1 CertificatesM-1, Class M-2 CertificatesM-2, Class M-3 CertificatesM-3, Class M-4 CertificatesB-1, Class M-5 B-2 and Class B-3 Certificates and the Uncertificated Class A-V REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 Certificates(exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Clxxx X-0, Xxxxx B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will shall make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will shall be "regular interests" in REMIC I and the Class R Certificates (with respect to the Class R-I Certificates will Interest) shall be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-I-1, Class A-2 CertificatesA-I-2, Class A-3 CertificatesA-II-1, Class M-1 CertificatesA-II-2, Class M-2 CertificatesA-III-1, Class M-3 CertificatesA-III-2, Class M-4 CertificatesA-IV-1, Class M-5 A-IV-2, Class A-V, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will shall be "regular interests" in REMIC II, and the Class R Certificates (with respect to the Class R-II Certificates will Interest) shall represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-0X, Xxxxx X-4, Class M-2 CertificatesA-4A, Class M-3 CertificatesA-5, Class M-4 CertificatesA-6, Class M-5 A-7, Class A-7A, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 Certificates(exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9 ,Class A-10, Class 11, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") and shall make an election to treat the pool of assets comprised of the underlying REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and Component II of the Class R-II R Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interest 119 Each Class of Class A, Class M and Class B Certificates will be the "regular interestinterests" in REMIC III, ownership and Component III of which the Class R Certificates will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreements)Agreement and the Reserve Fund) described in the definition of Trust Fund, and subject to this Agreement, as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) II"), in each case, for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC I Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes I Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) ), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law). The Class A-1 CertificatesI-A-1, Class A-2 CertificatesI-A-2, Class A-3 CertificatesI-A-3, Class M-1 CertificatesII-A, Class M-2 CertificatesIII-A, Class M-3 CertificatesM-1, Class M-4 CertificatesM-2, Class M-5 M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA1-I, Class A-2 CertificatesA1-II, Class A-3 CertificatesCB-I, Class M-1 CertificatesCB-II, Class M-2 CertificatesNB-I, Class M-3 CertificatesNB-II, Class M-4 CertificatesA2-I, Class M-5 A2-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Estate, and subject to this AgreementAgreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.[Signature Page Follows]

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesX-0, Xxxxx X-0, Class M-5 PO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SB-Interests, the rights in and to which will be represented by the Class IO and SB-PO Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesX, Class M-2 CertificatesX-0, Xxxxx X-0, Class M-3 CertificatesM-3, Class M-4 CertificatesM-4, Class M-5 M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class B-1, Class B-2, Class B-3 and Class P Certificates and REMIC II Regular Interests SB-IO and SB-PO will be represent "regular interests" in REMIC II, and the Class R-II Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election elections to treat the segregated pool of assets described in the definition each of REMIC I (as defined herein) I, REMIC II and REMIC III and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), Auction Proceeds Account and subject to this Agreement, the Swap Proceeds Account) as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests shall be designated as a the "regular interests" and the Class R-I Interest shall be designated as the sole class of "residual interests" in REMIC (REMIC II) for federal income tax purposes. I.. The REMIC Administrator will make an election to treat the pool of assets comprised of Uncertificated REMIC II Regular Interests SBshall be designated as the "regular interests" and the Class R-IO and SB-PO II Interest shall be designated as a the sole class of "residual interests" in REMIC (REMIC III) for federal income tax purposesII. The REMIC I Regular Interests Class A-1, Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the rights in and to which will be represented by the Class S Certificates, will represent ownership of "regular interests" in REMIC I III and will generally be treated as debt instruments of REMIC III, the Class A, Class M and Class B Certificates will also represent the right to receive payments in respect of the Adjusted Net WAC Shortfall Amount, which will not be an entitlement from any REMIC, and the Class S-1 certificates will also represent an obligation to make payments in respect of the Adjusted Net WAC Shortfall Amount. The Class A Certificates will also represent the right to receive payments in respect of the swap agreement, which will not be an entitlement from any REMIC; and the Class R-I Certificates III Interest will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesX-0, Xxxxx X-0, Class A-2 CertificatesA-3, Class A-3 CertificatesA-3A, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO Interest as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-1A, Class A-3 CertificatesA-1B, Class M-1 CertificatesA-2, Class M-2 CertificatesA-3, Class M-3 CertificatesX-0, Xxxxx X-0, Class M-4 CertificatesA-6, Class M-5 A-6A, Class A-7, Class A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBInterests, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest Z or Interests specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) except for the Reserve Fund and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-2A, Class M-1 CertificatesA-3, Class M-2 CertificatesA-4, Cxxxx X-0, Xxxxs A-6, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-15, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) ), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests Interests, and subject to this Agreement (excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under in the federal income tax lawStandard Terms). The Class A-1 CertificatesI-A, Class A-2 CertificatesII-A, Class A-3 CertificatesIII-A, Class M-1 CertificatesM-1, Class M-2 CertificatesM-2, Class M-3 CertificatesM-3, Class M-4 CertificatesB-1, Class M-5 B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Estate, and subject to this AgreementAgreement (including the Mortgage Loans, as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator "), will make an election to treat the pool of assets comprised of the REMIC I Regular Interests as a REMIC ("REMIC II"), and will make an election to treat the pool of assets comprised of the REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) "), for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest Interests will be the "regular interestinterests" in REMIC III, ownership of which will be represented by the Class SB Certificates, III and the Class R-X III Certificates will represent be the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB-I-1, Class A-2 CertificatesCB-I-2, Class A-3 CertificatesNB-II-1, Class M-1 CertificatesNB-II-2, Class M-2 CertificatesCB-III, Class M-3 CertificatesNB-IV-1, Class M-4 CertificatesNB-IV-2, Class M-5 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-2A, Class M-1 CertificatesA-3, Class M-2 CertificatesA-3A, Class M-3 CertificatesA-4, Xxxxx X-0, Xxass A-6, Class M-4 CertificatesA-6A, Class M-5 A-7, Class A-8, Class A-9, Class A-9A, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesI-A-1, Class A-2 CertificatesI-A-2, Class A-3 CertificatesII-A-1, Class M-1 CertificatesIII-A-1, Class M-2 CertificatesIII-A-2, Class M-3 CertificatesM-1, Class M-4 CertificatesM-2, Class M-5 M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) except for the Reserve Fund and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-2A, Claxx X-0, Xxxxx A-4, Class M-1 CertificatesA-5, Class M-2 CertificatesA-6, Class M-3 CertificatesA-7, Class M-4 CertificatesA-8, Class M-5 A-9, Class A-9A, Class A-10, Class A-11, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-1A, Class A-3 CertificatesA-2, Class M-1 CertificatesA-3, Class M-2 CertificatesA-4, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Estate, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class A-4, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO V Certificates, and SB-PO the other Uncertificated REMIC II Regular Interests, the rights in and to which will be represented by their Related Classes of Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets (including the Mortgage Loans) described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), Rounding Account and subject to this Agreement, the Reserve Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised composed of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC I Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC I Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB I, Class A-2 CertificatesNB-I, Class A-3 CertificatesCB-II, Class M-1 CertificatesNB-II, Class M-2 CertificatesNB-III-1, Class M-3 CertificatesNB-III-2, Class M-4 CertificatesNB-III-3, Class M-5 NB-IV, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB-I-1, Class A-2 CertificatesCB-I-2, Class A-3 CertificatesNB-I, Class M-1 CertificatesCB-II-1, Class M-2 CertificatesCB-II-2, Class M-3 CertificatesNB-II, Class M-4 CertificatesCB-III, Class M-5 NB-III, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the segregated pool Mortgage Loans in Loan Group II and the proceeds of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding in Loan Group II and the Yield Maintenance Agreements)proceeds of the Group II Policy on deposit in the Distribution Account, the Custodial Account and subject to this Agreement, the Note Payment Account as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class A-1 Certificates, II Notes and the Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO II Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesCB, Class M-3 CertificatesNB-1, Class M-4 CertificatesNB-2, Class M-5 NB-3, Class NB-3A, Class NB-4, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall (a) make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I"), (b) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of the REMIC I Regular Interests as a REMIC ("REMIC II"), and (c) make an election to treat the pool of assets comprised of the REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) "), for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component I of the Class R-I R Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and Component II of the Class R-II R Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interest Class A, Class M and Class B Certificates, will be the "regular interestinterests" in REMIC III, ownership and Component III of which the Class R Certificates will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Securities Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)1, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC (“REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will 1 ”), shall make an election to treat the pool of assets comprised of the uncertificated REMIC II 1 Regular Interests SB-IO and SB-PO as a REMIC (“REMIC III2 ”) for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC 2 Regular Interests as a REMIC (“REMIC 3 ”) for federal income tax purposes. The REMIC I 1 Regular Interests will be "“regular interests" ” in REMIC I 1 and Component R-1 of the Class R-I R Certificates will be the sole class of "“residual interests" ” in REMIC I 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II 2 Regular Interests SB-IO and SB-PO will be "“regular interests" ” in REMIC II2 , and Component R-2 of the Class R-II R Certificates will represent be the sole class of "“residual interests" in REMIC II ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Uncertificated REMIC III 3 Regular Interest will be Interest, the "regular interest" in REMIC III, ownership of which is evidenced by the Exchangeable and Exchanged Certificates, as the case may be, the Class I-A-I, Class A-PO, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class P Certificates, will be represented by “regular interests” in REMIC 3 and Component R-3 of the Class SB Certificates, and the Class R-X R Certificates will represent be the sole class of "“residual interests" in REMIC III ” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.. 123

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) except for Reserve Fund I, Reserve Fund II and the Initial Monthly Payment Fund), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB-I, Class A-2 CertificatesNB-II, Class A-3 CertificatesCB-III, Class M-1 CertificatesNB-IV, Class M-2 CertificatesNB-V, Class M-3 CertificatesM-1, Class M-4 CertificatesM-2, Class M-5 M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreements)Agreement and the Reserve Fund) described in the definition of Trust Fund, and subject to this Agreement, as a REMIC ("REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will "), and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) II"), in each case, for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-15, Class A-16, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes I Regular Interest or Interests Z, and correspondingly, the Uncertificated REMIC II Regular Interests Z, specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Initial Monthly Payment Fund) described in the definition of Trust Fund, and subject to this Agreement, as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised composed of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) II"), in each case, for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 I-A-1, Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class I-A-6, Class I-A-7, Class I-A-8, Class I-A-9, Class II-A, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC I Regular Interests Z , the rights in and to which will be represented by the Class A-V Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes I Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-P, Class M-5 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-11A, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 Certificates(exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-P, Clasx X-0, Xxxxx X-2, Class M-5 M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-0, Xxxxx X-0, Class A-2 CertificatesA-2A, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-15, Class A-16, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-9, Class A-10, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class-17, Class A-1 A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO V Certificates, and SB-PO the other Uncertificated REMIC II Regular Interests, the rights in and to which will be represented by their Related Classes of Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Estate, and subject to this AgreementAgreement (including the Mortgage Loans, but excluding the Pre-funding Account and the Capitalized Interest Account as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an and election to treat the segregated pool of assets consisting comprised of the REMIC I Regular Interests as a REMIC ("REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The Class A-I, Class A-II-1, Class A-II-2, Class A-II-3, Class A-II-4, Class A-II-5, Class A-II-6, Class A-IO Notes and the Class SB Certificates will be "regular interests" in REMIC III, and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-7A, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election elections to treat the segregated pool of assets described in the definition each of REMIC I (as defined herein) and REMIC II, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), Initial Monthly Payment Fund and subject to this Agreement, the Reserve Fund) as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests shall be designated as a the "regular interests" and the Class R-I Certificates shall be designated as the sole class of "residual interest" in the REMIC (REMIC I. The Class I-A-1, Class I-A-2, Class I-A-3, Class I-A-4, Class I-A-5, Class II) for federal income tax purposes. The REMIC Administrator -A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class II-A-5, Class I-A-P, Class II-A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the rights in and to which will make an election to treat be represented by the pool of assets comprised of REMIC II Regular Interests SBrelated Class A-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests V Certificates, will be "regular interests" in the REMIC I II, and the Class R-I II Certificates will be the sole class of "residual interests" in REMIC I therein for purposes of the REMIC Provisions (as defined herein) under in the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined hereinStandard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in related Uncertificated Class A-V REMIC III for purposes Regular Interest or Interests specified by the initial Holder of the REMIC Provisions under federal income tax lawrelated Class A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-7A, Class A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Initial Monthly Payment Fund) described in the definition of Trust Fund, and subject to this Agreement, as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised composed of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III) II"), in each case, for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC I Regular Interests Z , the rights in and to which will be represented by the Class A-V Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes I Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R Certificates (with respect to the Class R-I Certificates Interest) will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-I, Class A-2 CertificatesA-II, Class A-3 CertificatesM-1, Class M-1 CertificatesM-2, Class M-2 CertificatesM-3, Class M-3 CertificatesB-1, Class M-4 Certificates, B-2 and Class M-5 B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R Certificates (with respect to the Class R-II Certificates Interest) will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7 (exclusive of any rights to payment of amounts received pursuant to the Yield Maintenance Agreement), Class M-5 A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will "), shall make an election to treat the pool of assets comprised of the uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest Class 1-A-1, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6, Class 2-A-7, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, will be the "regular interestinterests" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X III Certificates will represent be the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets (including the Mortgage Loans) described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Initial Monthly Payment Fund, the Rounding Account and subject to this Agreement, the Reserve Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised composed of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual residential interests" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests, the rights in and to which will be represented by the Class A-V Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC IIthe REMIC, and the Class R-II R Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinabove) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated Class A-V REMIC III for purposes Regular Interest or Interests specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) (including except for the Mortgage Loans but excluding the Yield Maintenance AgreementsReserve Fund), and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance Agreements), and subject to this Agreement, Initial Monthly Payment Fund) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator and will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an and election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-5A, Class M-4 CertificatesA-6, Class M-5 A-7, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-P, Class M-5 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)I, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO V Certificates, and SB-PO the other Uncertificated REMIC II Regular Interests, the rights in and to which will be represented by their Related Classes of Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Estate, and subject to this AgreementAgreement (including the Mortgage Loans, but excluding the Pre-Funding Account and the Capitalized Interest Account as set forth in Section 2.06 of the Trust Agreement ) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions under the federal income tax law. The REMIC III Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-I-1, Class A-2 CertificatesA-I-2, Class A-3 CertificatesA-II-1, Class M-1 CertificatesA-II-2, Class M-2 CertificatesA-III-1, Class M-3 CertificatesA-III-2, Class M-4 CertificatesA-IV-1, Class M-5 A-IV-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) ), and subject to this Agreement (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund and amounts, including the prepayment charges, to which the Class P Certificates are entitled), and subject to this Agreement, as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests Interests, and subject to this Agreement, as a REMIC ("REMIC II") for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under in the federal income tax lawStandard Terms). The Class A-1 I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class I-A-V, Class I-A-P, Class II-A-V, Class II-A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and the Uncertificated REMIC II Regular Interests SBZ1 and Uncertificated REMIC II Regular Interest Z2, the rights in and to which will be represented by the related Class A-IO and SB-PO V Certificates, will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of related Class A-V Certificates pursuant to SECTION 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in related Uncertificated REMIC III for purposes II Regular Interests Z1 or Uncertificated REMIC II Regular Interests Z2, as applicable, specified by the initial Holder of the REMIC Provisions under federal income tax lawrelated Class A-V Certificates pursuant to said Section. The Class P Certificates will not represent ownership of an interest in any REMIC.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance AgreementsAgreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement Reserve Fund, the Class P Reserve Account and the Carryover Shortfall Reserve Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be represent "regular interests" in REMIC I and the Class R-I Certificates will be represent ownership of the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesX, Class M-2 CertificatesX-0, Xxxxx X-0, Class M-3 CertificatesM-3, Class M-4 CertificatesB-1, Class M-5 B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be represent "regular interests" in REMIC II, and the Class R-II Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB I, Class A-2 CertificatesNB-I, Class A-3 CertificatesCB-II, Class M-1 CertificatesNB-II, Class M-2 CertificatesCB-III, Class M-3 CertificatesNB-III, Class M-4 CertificatesCB-IV, Class M-5 NB-IV, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsBasis Risk Shortfall Reserve Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC II Regular Interests will be the "regular interests" in REMIC II, ownership of which will be represented by the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates, Class M-9 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC IIClass SB Certificates, and the Class R-II Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), and subject to this Agreement, as a REMIC (REMIC I) for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests (and excluding the Initial Monthly Payment Fund), as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will make an election to treat the pool of assets comprised of REMIC II Regular Interests SB-IO and SB-PO as a REMIC (REMIC III) for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I R Certificates will be the sole class of "residual interestsinterest" in REMIC I for purposes of the REMIC Provisions (as defined hereinin the Standard Terms) under the federal income tax law. The Class A-1 CertificatesCB I, Class A-2 CertificatesNB-I, Class A-3 CertificatesCB-II, Class M-1 CertificatesNB-II-1, Class M-2 CertificatesNB-II-2, Class M-3 CertificatesNB-II-3, Class M-4 CertificatesA-III-1, Class M-5 A-III-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, and the Class R-II R Certificates will represent ownership of the sole class of "residual interestsinterest" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax lawProvisions.

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-15, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-P, Class M-5 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I Trust Fund (as defined herein) (including exclusive of the Mortgage Loans but excluding Hedge Agreement and the Yield Maintenance AgreementsSwap Agreement), and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") and shall make an election to treat the pool of assets comprised of the underlying REMIC II Regular Interests SB-IO and SB-PO as a REMIC ("REMIC III") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and Component 1 of the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in REMIC II, II and Component 2 of the Class R-II I Certificates will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The REMIC III Regular Interest Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class X, Class M-0, Xxxxx X-0, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, will be the "regular interestinterests" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X II Certificates will represent be the sole class of "residual interests" in REMIC III therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law.. 107

Designation of REMIC(s). The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator and will make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-P, Class M-4 CertificatesM-1, Class M-5 M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class PO, Class IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class M-5 Certificates and REMIC II Regular Interests SB-IO and SB-PO will be "regular interests" in the REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be the "regular interest" in REMIC III, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law.

Designation of REMIC(s). The REMIC Administrator will shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Yield Maintenance Agreements)Trust Fund, and subject to this Agreement, Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") for federal income tax purposes. The REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC (REMIC II) for federal income tax purposes. The REMIC Administrator will and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC II I Regular Interests SB-IO and SB-PO as a REMIC ("REMIC IIIII") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1 CertificatesA-1, Class A-2 CertificatesA-2, Class A-3 CertificatesA-3, Class M-1 CertificatesA-4, Class M-2 CertificatesA-5, Class M-3 CertificatesA-6, Class M-4 CertificatesA-7, Class M-5 A-8, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests SBZ, the rights in and to which will be represented by the Class A-IO and SB-PO V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will represent be the sole class of "residual interests" in REMIC II therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The REMIC III Regular Interest will be On and after the "regular interest" in REMIC IIIdate of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, ownership of which will be represented by the Class SB Certificates, and the Class R-X Certificates any such Subclass will represent the sole class of "residual interests" in Uncertificated REMIC III for purposes II Regular Interest or Interests Z specified by the initial Holder of the REMIC Provisions under federal income tax lawClass A-V Certificates pursuant to said Section.