Common use of PRELIMINARY STATEMENT Clause in Contracts

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of sixteen classes of certificates, designated as (i) the Class A1-A Certificates, (ii) the Class A1-B Certificates, (iii) the Class A1-C Certificates, (iv) the Class AM Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class B Certificates, (xiv) the Class C Certificates, (xv) the Class P Certificates and (xvi) the Class R Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and, for the avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate (1) 1-1-A Variable(2) $ 1,291,504.09 September 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable 2037 1-1-B Variable(2) $ 1,291,504.09 September 25, 2037 1-2-A Variable(2) $ 2,392,637.16 September 25, 2037 1-2-B Variable(2) $ 2,392,637.16 September 25, 2037 1-3-A Variable(2) $ 3,515,987.98 September 25, 2037 1-3-B Variable(2) $ 3,515,987.98 September 25, 2037 1-4-A Variable(2) $ 4,652,077.16 September 25, 2037 1-4-B Variable(2) $ 4,652,077.16 September 25, 2037 1-5-A Variable(2) $ 5,790,398.31 September 25, 2037 1-5-B Variable(2) $ 5,790,398.31 September 25, 2037 1-6-A Variable(2) $ 6,916,224.67 September 25, 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) 1-6-B Variable(2) $ 6,916,224.67 September 25, 2037 1-7-A Variable(2) $ 8,020,326.33 September 25, 2037 1-7-B Variable(2) $ 8,020,326.33 September 25, 2037 1-8-A Variable(2) $ 9,083,173.44 September 25, 2037 1-8-B Variable(2) $ 9,083,173.44 September 25, 2037 1-9-A Variable(2) $ 10,058,672.05 September 25, 2037 1-9-B Variable(2) $ 10,058,672.05 September 25, 2037 1-10-A Variable(2) $ 10,765,542.83 September 25, 2037 1-10-B Variable(2) $ 10,765,542.83 September 25, 2037 1-11-A Variable(2) $ 11,463,933.03 September 25, 2037 1-11-B Variable(2) $ 11,463,933.03 September 25, 2037 1-12-A Variable(2) $ 11,644,488.25 September 25, 2037 1-12-B Variable(2) $ 11,644,488.25 September 25, 2037 1-13-A Variable(2) $ 11,067,336.89 September 25, 2037 1-13-B Variable(2) $ 11,067,336.89 September 25, 2037 1-14-A Variable(2) $ 10,518,483.57 September 25, 2037 1-14-B Variable(2) $ 10,518,483.57 September 25, 2037 1-15-A Variable(2) $ 9,996,426.10 September 25, 2037 1-15-B Variable(2) $ 9,996,426.10 September 25, 2037 1-16-A Variable(2) $ 9,499,998.27 September 25, 2037 1-16-B Variable(2) $ 9,499,998.27 September 25, 2037 1-17-A Variable(2) $ 9,027,876.59 September 25, 2037 1-17-B Variable(2) $ 9,027,876.59 September 25, 2037 1-18-A Variable(2) $ 8,578,837.10 September 25, 2037 1-18-B Variable(2) $ 8,578,837.10 September 25, 2037 1-19-A Variable(2) $ 8,151,847.46 September 25, 2037 1-19-B Variable(2) $ 8,151,847.46 September 25, 2037 1-20-A Variable(2) $ 7,798,892.21 September 25, 2037 1-20-B Variable(2) $ 7,798,892.21 September 25, 2037 1-21-A Variable(2) $ 7,396,029.40 September 25, 2037 1-21-B Variable(2) $ 7,396,029.40 September 25, 2037 1-22-A Variable(2) $ 7,016,763.42 September 25, 2037 1-22-B Variable(2) $ 7,016,763.42 September 25, 2037 1-23-A Variable(2) $ 6,425,008.72 September 25, 2037 1-23-B Variable(2) $ 6,425,008.72 September 25, 2037 1-24-A Variable(2) $ 3,611,587.50 September 25, 2037 1-24-B Variable(2) $ 3,611,587.50 September 25, 2037 1-25-A Variable(2) $ 3,502,440.00 September 25, 2037 1-25-B Variable(2) $ 3,502,440.00 September 25, 2037 1-26-A Variable(2) $ 3,396,127.50 September 25, 2037 1-26-B Variable(2) $ 3,396,127.50 September 25, 2037 1-27-A Variable(2) $ 3,293,460.00 September 25, 2037 1-27-B Variable(2) $ 3,293,460.00 September 25, 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-28-A Variable(2) $ 3,193,627.50 September 25, 2037 1-28-B Variable(2) $ 3,193,627.50 September 25, 2037 1-29-A Variable(2) $ 3,096,832.50 September 25, 2037 1-29-B Variable(2) $ 3,096,832.50 September 25, 2037 1-30-A Variable(2) $ 3,003,075.00 September 25, 2037 1-30-B Variable(2) $ 3,003,075.00 September 25, 2037 1-31-A Variable(2) $ 2,911,950.00 September 25, 2037 1-31-B Variable(2) $ 2,911,950.00 September 25, 2037 1-32-A Variable(2) $ 2,823,862.50 September 25, 2037 1-32-B Variable(2) $ 2,823,862.50 September 25, 2037 1-33-A Variable(2) $ 2,738,205.00 September 25, 2037 1-33-B Variable(2) $ 2,738,205.00 September 25, 2037 1-34-A Variable(2) $ 2,654,977.50 September 25, 2037 1-34-B Variable(2) $ 2,654,977.50 September 25, 2037 1-35-A Variable(2) $ 2,574,585.00 September 25, 2037 1-35-B Variable(2) $ 2,574,585.00 September 25, 2037 1-36-A Variable(2) $ 20,079,787.50 September 25, 2037 1-36-B Variable(2) $ 20,079,787.50 September 25, 2037 1-37-A Variable(2) $ 1,882,755.00 September 25, 2037 1-37-B Variable(2) $ 1,882,755.00 September 25, 2037 1-38-A Variable(2) $ 1,825,582.50 September 25, 2037 1-38-B Variable(2) $ 1,825,582.50 September 25, 2037 1-39-A Variable(2) $ 1,770,300.00 September 25, 2037 1-39-B Variable(2) $ 1,770,300.00 September 25, 2037 1-40-A Variable(2) $ 1,716,435.00 September 25, 2037 1-40-B Variable(2) $ 1,716,435.00 September 25, 2037 1-41-A Variable(2) $ 1,664,460.00 September 25, 2037 1-41-B Variable(2) $ 1,664,460.00 September 25, 2037 1-42-A Variable(2) $ 1,613,745.00 September 25, 2037 1-42-B Variable(2) $ 1,613,745.00 September 25, 2037 1-43-A Variable(2) $ 1,564,762.50 September 25, 2037 1-43-B Variable(2) $ 1,564,762.50 September 25, 2037 1-44-A Variable(2) $ 1,517,355.00 September 25, 2037 1-44-B Variable(2) $ 1,517,355.00 September 25, 2037 1-45-A Variable(2) $ 1,471,050.00 September 25, 2037 1-45-B Variable(2) $ 1,471,050.00 September 25, 2037 1-46-A Variable(2) $ 1,426,477.50 September 25, 2037 1-46-B Variable(2) $ 1,426,477.50 September 25, 2037 1-47-A Variable(2) $ 1,383,007.50 September 25, 2037 1-47-B Variable(2) $ 1,383,007.50 September 25, 2037 1-48-A Variable(2) $ 1,341,112.50 September 25, 2037 1-48-B Variable(2) $ 1,341,112.50 September 25, 2037 1-49-A Variable(2) $ 1,300,162.50 September 25, 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-49-B Variable(2) $ 1,300,162.50 September 25, 2037 1-50-A Variable(2) $ 1,260,630.00 September 25, 2037 1-50-B Variable(2) $ 1,260,630.00 September 25, 2037 1-51-A Variable(2) $ 1,222,357.50 September 25, 2037 1-51-B Variable(2) $ 1,222,357.50 September 25, 2037 1-52-A Variable(2) $ 1,185,030.00 September 25, 2037 1-52-B Variable(2) $ 1,185,030.00 September 25, 2037 1-53-A Variable(2) $ 1,148,962.50 September 25, 2037 1-53-B Variable(2) $ 1,148,962.50 September 25, 2037 1-54-A Variable(2) $ 1,113,997.50 September 25, 2037 1-54-B Variable(2) $ 1,113,997.50 September 25, 2037 1-55-A Variable(2) $ 1,080,135.00 September 25, 2037 1-55-B Variable(2) $ 1,080,135.00 September 25, 2037 1-56-A Variable(2) $ 1,047,217.50 September 25, 2037 1-56-B Variable(2) $ 1,047,217.50 September 25, 2037 1-57-A Variable(2) $ 1,015,245.00 September 25, 2037 1-57-B Variable(2) $ 1,015,245.00 September 25, 2037 1-58-A Variable(2) $ 984,375.00 September 25, 2037 1-58-B Variable(2) $ 984,375.00 September 25, 2037 1-59-A Variable(2) $ 954,292.50 September 25, 2037 1-59-B Variable(2) $ 954,292.50 September 25, 2037 1-60-A Variable(2) $ 30,051,630.00 September 25, 2037 1-60-B Variable(2) $ 30,051,630.00 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 OC Variable(2) $ 196,613,419.09 September 25, 2037 ________________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Class A Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO A-P Certificates), the Class 30-B Certificates ) and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO A-P Component, Class 12-IO A-P Component, Class 3-A-P Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 41-PO WIO Component, Class 2-WIO Component and Class 43-SES WIO Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Class A Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class A-PO Certificates), the Class 30-B Certificates ) and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2A-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3A-PO Component, Class 31-A-SES Component, Class 4-PO Component, Component and Class 42-A-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of seventeen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class M-9 Certificates, (xiv) the Class C Certificates, (xv) the Class P Certificates, (xvi) the Class R Certificates and (xvii) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 43,200,091.53 March 25, 2037 II Variable(2) $ 8,046,584.07 March 25, 2037 I-1-B Variable(2) $ 4,917,437.46 March 25, 2037 I-3-B Variable(2) $ 6,683,617.74 March 25, 2037 I-4-B Variable(2) $ 7,559,243.48 March 25, 2037 I-5-B Variable(2) $ 8,395,396.74 March 25, 2037 I-6-B Variable(2) $ 9,199,397.74 March 25, 2037 I-7-B Variable(2) $ 9,765,853.13 March 25, 2037 I-8-B Variable(2) $ 9,968,153.03 March 25, 2037 I-10-B Variable(2) $ 9,671,900.88 March 25, 2037 I-11-A Variable(2) $ 9,378,402.50 March 25, 2037 I-11-B Variable(2) $ 9,378,402.50 March 25, 2037 I-12-B Variable(2) $ 9,082,472.90 March 25, 2037 I-13-A Variable(2) $ 8,793,313.47 March 25, 2037 I-13-B Variable(2) $ 8,793,313.47 March 25, 2037 I-14-B Variable(2) $ 8,533,905.53 March 25, 2037 I-15-B Variable(2) $ 8,285,929.66 March 25, 2037 I-16-B Variable(2) $ 8,049,176.19 March 25, 2037 I-17-B Variable(2) $ 7,905,614.92 March 25, 2037 I-18-A Variable(2) $ 9,624,741.95 March 25, 2037 I-18-B Variable(2) $ 9,624,741.95 March 25, 2037 I-19-B Variable(2) $ 12,780,615.97 March 25, 2037 I-20-B Variable(2) $ 14,847,514.92 March 25, 2037 I-21-B Variable(2) $ 15,023,940.84 March 25, 2037 I-25-B Variable(2) $ 6,627,023.32 March 25, 2037 I-26-B Variable(2) $ 5,824,803.04 March 25, 2037 I-27-A Variable(2) $ 5,611,916.17 March 25, 2037 I-27-B Variable(2) $ 5,611,916.17 March 25, 2037 I-28-B Variable(2) $ 5,412,683.97 March 25, 2037 I-29-A Variable(2) $ 5,220,542.54 March 25, 2037 I-29-B Variable(2) $ 5,220,542.54 March 25, 2037 I-30-B Variable(2) $ 5,035,198.16 March 25, 2037 I-31-B Variable(2) $ 4,856,379.46 March 25, 2037 I-32-A Variable(2) $ 4,683,802.84 March 25, 2037 I-32-B Variable(2) $ 4,683,802.84 March 25, 2037 I-33-B Variable(2) $ 4,517,323.52 March 25, 2037 I-34-B Variable(2) $ 4,356,848.75 March 25, 2037 I-35-B Variable(2) $ 4,202,131.89 March 25, 2037 I-36-B Variable(2) $ 1,159,238.77 March 25, 2037 I-38-A Variable(2) $ 3,128,307.81 March 25, 2037 I-38-B Variable(2) $ 3,128,307.81 March 25, 2037 I-39-A Variable(2) $ 3,017,211.50 March 25, 2037 I-39-B Variable(2) $ 3,017,211.50 March 25, 2037 I-40-A Variable(2) $ 2,910,042.28 March 25, 2037 I-40-B Variable(2) $ 2,910,042.28 March 25, 2037 I-41-B Variable(2) $ 2,806,668.77 March 25, 2037 I-42-B Variable(2) $ 2,706,936.27 March 25, 2037 I-43-B Variable(2) $ 2,610,787.79 March 25, 2037 I-44-A Variable(2) $ 2,518,012.45 March 25, 2037 I-44-B Variable(2) $ 2,518,012.45 March 25, 2037 I-45-B Variable(2) $ 2,428,525.11 March 25, 2037 I-47-A Variable(2) $ 2,258,959.29 March 25, 2037 I-47-B Variable(2) $ 2,258,959.29 March 25, 2037 I-48-A Variable(2) $ 2,178,658.48 March 25, 2037 I-48-B Variable(2) $ 2,178,658.48 March 25, 2037 I-49-B Variable(2) $ 2,101,207.67 March 25, 2037 I-50-A Variable(2) $ 2,026,503.61 March 25, 2037 I-50-B Variable(2) $ 2,026,503.61 March 25, 2037 I-51-B Variable(2) $ 1,954,465.65 March 25, 2037 I-52-A Variable(2) $ 1,884,999.52 March 25, 2037 I-52-B Variable(2) $ 1,884,999.52 March 25, 2037 I-53-B Variable(2) $ 1,818,610.34 March 25, 2037 I-54-B Variable(2) $ 1,755,199.05 March 25, 2037 I-55-B Variable(2) $ 1,694,238.85 March 25, 2037 I-57-B Variable(2) $ 1,576,171.65 March 25, 2037 I-58-B Variable(2) $ 1,520,001.97 March 25, 2037 I-59-B Variable(2) $ 1,465,820.83 March 25, 2037 I-60-A Variable(2) $ 1,413,535.84 March 25, 2037 I-60-B Variable(2) $ 1,413,535.84 March 25, 2037 I-61-B Variable(2) $ 1,363,114.00 March 25, 2037 I-62-A Variable(2) $ 1,314,509.59 March 25, 2037 I-62-B Variable(2) $ 1,314,509.59 March 25, 2037 I-63-A Variable(2) $ 35,403,831.08 March 25, 2037 I-63-B Variable(2) $ 35,403,831.08 March 25, 2037

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class M-11 Certificate, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xvix) the Class R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Accounts, any Subsequent Mortgage Loan Interest, the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) LT1 Variable(2) $ 509,694,907.11 February 2037 LT1PF Variable(2) $ 185,365,645.51 February 2037 LT2 Variable(2) $ 590,304,841.03 February 2037 LT2PF Variable(2) $ 214,634,606.35 February 2037 ________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of nineteen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class C Certificates, (xvii) the Class P Certificates, (xviii) the Class R Certificates and (xix) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Accounts, the Interest Coverage Accounts, any Subsequent Mortgage Loan Interest, the Net WAC Rate Carryover Reserve Account, the Cap Allocation Agreement, the Cap Account, the Interest Rate Swap Agreement, the Swap Acount, the Supplemental Interest Trust, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Cap Agreement and the Interest Rate Cap Contract) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I-LT1 Variable(2 ) $ 444,210,719.25 February 25, 2037 I-LT1PF Variable(2 ) $ 229,839,482.91 February 25, 2▇▇▇ ▇-▇▇▇ Variable(2 ) $ 618,617,188.27 February 25, 2037 I-LT2PF Variable(2 ) $ 337,068,542.52 February 25, 2▇▇▇ ▇-▇▇▇ Variable(2 ) $ 100.00 February 25, 2037 ________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThe Depositor intends to sell pass-through certificates to be issued hereunder in multiple classes, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trusteach REMIC (as defined herein) created hereunder. The Trust Fund will consist of a segregated pool of assets comprising of the Mortgage Loans and certain other related assets subject to this Agreement. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Servicer Prepayment Charge Payment Amount) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC I." 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). The following table irrevocably sets forth the designation, the REMIC I Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for federal income tax purposes each of all interests created hereby the REMIC I Regular Interests (as defined herein). None of the REMIC I Regular Interests will be the certificated. REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):INITIAL LATEST POSSIBLE DESIGNATION REMITTANCE RATE UNCERTIFICATED BALANCE(1) MATURITY DATE(3) ----------- --------------- ------------------------- ---------------- I-LT1 Variable(2) I-LT4 Variable(2) I-LT5 Variable(2) I-LT6 Variable(2) I-LT7 Variable(2) I-LT8 Variable(2) I-LT9 Variable(2) LTPI(3) Variable(2) I-LT3 Variable(2)

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the DSLA Mortgage Loan Trust Estate to 2004-AR1, DSLA Mortgage Pass-Through Certificates, Series 2004-AR1 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of fifteen classes of certificates, designated as (i) the Class A-1A Certificates, (ii) the Class A-1B Certificates, (iii) the Class A-2A Certificates, (iv) the Class A-2B Certificates, (v) the Class X-1 Certificates, (vi) the Class X-2, (vii) the Class A-R Certificate, (viii) the Class B-1 Certificates, (ix) the Class B-2 Certificates, (x) the Class B-3 Certificates, (xi) the Class B-4 Certificates, (xii) the Class B-5 Certificates, (xiii) the Class B-6 Certificates and (xiv) the Class Y Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class A-1A, Class ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07. The owners of the Class X-2 Certificates beneficially own the Basis Risk Reserve Fund. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, and the interests created in any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the REMIC Certificate Maturity excess, if any, of (i) amounts received pursuant to the Yield Maintenance Agreements for that Distribution date over (ii) the portion thereof payable to the Class A-1A, Class A-1B, Class A-2A and Class A-2B Certificates on that Distribution Date. The Class Y Certificates will not represent an interest in any REMIC. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates may be issued in any amount in excess of the minimum denomination):LTA-1A (1) $ 77,399,000.00 Class A-1A LTA-1B (1) $ 8,600,000.00 Class ▇-▇▇ ▇▇▇-▇▇ (1) $ 98,225,000.00 Class A-2A LTA-2B (1) $ 27,027,000.00 Class A-2B LTA-R (1) $ 25.00 Class A-R LTB-6 (1) $ 920,250.87 Class B-6 LT-Group 1 (2) $ 93,178,214.71 N/A LT-SC-1 (2) $ 299,133.95 N/A LT-Group 2 (3) $ 135,708,010.12 N/A LT-SC-2 (3) $ 435,667.09 N/A LTQ (1) $ 459,242,051.75 N/A LT-R (4) (4) Class A-R __________________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two classes of certificates, designated as (i) the Class AV-1 Certificates, (ii) the Class AV-2 Certificates, (iii) the Class AV-3 Certificates, (iv) the Class AF-1 Certificates, (v) the Class AF-2 Certificates, (vi) Class AF-3 Certificates, (vii) the Class AF-4 Certificates, (viii) the Class AF-5 Certificates, (ix) the Class AF-6 Certificates, (x) the Class M-1 Certificates (xi) the Class M-2 Certificates, (xii) the Class M-3 Certificates, (xiii) the Class M-4 Certificates, (xiv) the Class M-5 Certificates, (xv) the Class M-6 Certificates, (xvii) the Class M-7 Certificates, (xviii) the Class M-8 Certificates, (xix) the Class M-9 Certificates, (xx) the Class C Certificates, (xxi) the Class P Certificates and (xxii) the Class R Certificates. As provided herein, the Securities Administrator shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Basis Risk Reserve Account, the Interest Rate Swap Agreement, the Swap Account, the Supplemental Interest Trust and any Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. _______________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate sell mortgage investment conduits (the "Upperpass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple Classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustMortgage Loans (as defined herein). The "latest possible maturity date" As provided herein, the Trustee will make, in accordance with Section 9.12, an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement, as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes and such segregated pool of all interests created hereby assets will be designated as “REMIC I.” The REMIC I Regular Interests will be the “regular interests” in REMIC Certificate Maturity DateI 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. A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” and the Trustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Uncertificated Class A-IO-1 Component and Uncertificated Class A-IO-2 Component (each represented and beneficially owned by a holder of the Class A-IO Certificates), Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be “regular interests” in REMIC II, and the Class R-II 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 following table irrevocably sets forth characteristics the designation, the REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the Certificates and “latest possible maturity date” for the ComponentsREMIC I Regular Interests. The REMIC I Regular Interests will not be certificated. REMIC I Regular Interest Designation REMIC I Pass- Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity(1) M-3 Variable (2) $ 2,922,000.00 June 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2035 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which Certificates in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of eight classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class M Certificates, (v) the Class B Certificates, (vi) the Class C Certificates, (vii) the Class P Certificates and (viii) the Class R Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Excess Reserve Fund Account and the other assets identified as excluded in accordance with the definition of “REMIC 1” herein) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest represents the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate(1) LT1AA Variable(2) $ 165,478,105.44 April 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2012 LT1A1 Variable(2) $ 968,290.00 April 25, 2012 LT1A2 Variable(2) $ 490,450.00 April 25, 2012 LT1A3 Variable(2) $ 207,860.00 April 25, 2012 LT1M Variable(2) $ 7,590.00 April 25, 2012 LT1B Variable(2) $ 14,362.09 April 25, 2012 LT1ZZ Variable(2) $ 1,688,552.10 April 25, 2012 LT1P Variable(2) $ 100.00 April 25, 2012 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8A Certificates, (xiv) the Class M-8B Certificates, (xv) the Class M-9 Certificates, (xvi) the Class M-10 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R-X Certificates and (xxi) the Class X Certificates, (xxi) the Class X Certificates, (xxii) the Class FL Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Basis Risk Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) ________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-one classes of certificates, designated as (i) the Class A-1A Certificates, (ii) the Class A-1F1 Certificates, (iii) the Class A-1F2 Certificates, (iv) the Class A-2A Certificates, (v) the Class A-2F Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class B-1 Certificates, (xvi) the Class P Certificates, (xvii) the Class X-1 Certificates, (xviii) the Class X-2 Certificates, (xix) the Class X-S Certificates, (xx) the Class A-R Certificates and (xxi) the Class A-RL Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, Basis Risk Reserve Fund, Swap Account, the Capitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class A-RL Certificates will represent the sole class of “residual interests” in REMIC 1 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the Certificates and “regular interests” in REMIC 1 (the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess “REMIC 1 Regular Interests”). None of the minimum denomination):REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “REMIC” or, in the "alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"”). The Senior Certificates (Each Certificate, other than the Class CBA-IO, R Certificate and the Class SES, Class 1-A-R-II Certificate, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. The In addition, (i) the Class 1-PO ComponentA-1A, Class 1-IO ComponentA-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-SES ComponentA-1B, Class 2-PO ComponentA-1A, Class 2-IO ComponentA-1B, and Class 2-SES Component, A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, X-1 and Class 4-SES Component (collectively, X-2 Certificates beneficially own the "Components") shall also constitute "regular interests" in Basis Risk Reserve Fund and the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMICYield Maintenance Account. The Class 1-P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate shall be represents the "sole class of residual interest" interest in the Upper-Tier REMIC and the Class 1-A-LR R-II Certificate shall be represents the "sole class of residual interest" interest in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent REMIC shall hold as assets all property of the entire beneficial ownership interest Trust Fund other than the assets held in the TrustBasis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The "latest possible maturity date" for federal income tax purposes Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each evidenced by the Class of Certificates may be issued in any amount in excess of the minimum denomination):A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class 15-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 415-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-IO Component, Class 4-PO Component, Class 4-SES Component, Class 5-PO Component, Class 5-IO Component and Class 45-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate The Company intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate sell mortgage investment conduits (the "Upperpass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "ComponentsCertificates") shall also constitute "regular interests" ), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustMortgage Loans (as defined herein). As provided herein, the Trustee will make, in accordance with Section 10.01, an election to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans), as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be designated as "REMIC I." 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. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the Trustee will make, in accordance with Section 10.01, a separate REMIC election with respect thereto. The Class A-1, Class A-2, Class A-3, Class A-4, ▇▇▇▇▇ ▇-▇, ▇▇▇ss A-6, Class A-7, Class A-8, Class M-1, Class M-2, ▇▇▇▇▇ ▇-▇, ▇▇▇ss B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II, and the Class R-II 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 following table irrevocably sets forth the designation, the Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for federal income tax purposes each of all interests created hereby the REMIC I Regular Interests. None of the REMIC I Regular Interests will be the certificated. Uncertificated REMIC Certificate I Initial Uncertificated Latest Possible Designation Pass-Through Rate Principal Balance Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate(1) ----------- ----------------- ----------------- ---------------- Uncertificated REMIC I 8.225003725% $147,664,000.00 July 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable 2030 Regular Interest T Uncertificated REMIC I 9.05% $73,831,000.00 July 25, 2030 Regular Interest U Uncertificated REMIC I 8.50% $3,966,000.00 July 25, 2030 Regular Interest V Uncertificated REMIC I 8.50% $27,500,000.00 July 25, 2030 Regular Interest W REMIC I Regular Interest X 8.50% $22,001,363.83 July 25, 2030 REMIC I Regular Interest Y 0.00% $42,449.00 July 25, 2030 REMIC I IO Regular Interest (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) (3) July 25, 2030 -----------------------------

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class II-A-5 Certificates, (vii) the Class II-A-6 Certificates, (viii) the Class M-1 Certificates, (ix) the Class M-2 Certificates, (x) the Class M-3 Certificates, (xi) the Class M-4 Certificates, (xii) the Class M-5 Certificates, (xiii) the Class M-6 Certificates, (xiv) the Class M-7 Certificates, (xv) the Class M-8 Certificates, (xvi) the Class M-9 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account and any Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate(2) Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) LTAA Variable $ 686,000,128.05 March 2037 LTIA1 Variable $ 3,883,520.00 March 2037 LTIIA1 Variable $ 694,760.00 March 2037 LTIIA2 Variable $ 233,830.00 March 2037 LTIIA3 Variable $ 332,630.00 March 2037 LTIIA4 Variable $ 168,350.00 March 2037 LTIIA5 Variable $ 178,910.00 March 2037 LTIIA6 Variable $ 143,000.00 March 2037 LTM1 Variable $ 329,000.00 March 2037 LTM2 Variable $ 185,500.00 March 2037 LTM3 Variable $ 108,500.00 March 2037 LTM4 Variable $ 101,500.00 March 2037 LTM5 Variable $ 91,000.00 March 2037 LTM6 Variable $ 84,000.00 March 2037 LTM7 Variable $ 77,000.00 March 2037 LTM8 Variable $ 56,000.00 March 2037 LTM9 Variable $ 70,000.00 March 2037 LTZZ Variable $ 7,262,502.61 March 2037 LTP Variable $ 100.00 March 2037 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-APT, Class I-A1A, Class I-A1B, Class I-A1C1, Class I-A1C2, Class II-APT, Class II-A1 and Class II-A2 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, (iii) the Class C Certificates, (iv) the Class P Certificates and (v) the Class R Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Trust Fund (exclusive of the Basis Risk Shortfall Reserve Fund and for the avoidance of doubt, the Supplemental Interest Trust, the Yield Maintenance Agreement and the Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1”. The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Certificate Principal Balance Assumed Final Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate(1) I (2) $ 5,568,372.55 April 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable 2036 I-1-A (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 4,962,215.12 April 25, 2036 I-1-B (2) $ 4,962,215.12 April 25, 2036 I-2-B (2) $ 6,020,180.07 April 25, 2036 I-3-B (2) $ 7,068,202.11 April 25, 2036 I-4-A (2) $ 8,097,438.32 April 25, 2036 I-4-B (2) $ 8,097,438.32 April 25, 2036 I-5-A (2) $ 9,098,776.97 April 25, 2036 I-5-B (2) $ 9,098,776.97 April 25, 2036 I-6-A (2) $ 10,062,942.88 April 25, 2036 I-6-B (2) $ 10,062,942.88 April 25, 2036 I-7-A (2) $ 10,980,614.69 April 25, 2036 I-7-B (2) $ 10,980,614.69 April 25, 2036 I-8-A (2) $ 11,840,392.57 April 25, 2036 I-8-B (2) $ 11,840,392.57 April 25, 2036 I-9-A (2) $ 12,578,345.90 April 25, 2036 I-9-B (2) $ 12,578,345.90 April 25, 2036 I-10-A (2) $ 12,559,583.04 April 25, 2036 I-10-B (2) $ 12,559,583.04 April 25, 2036 I-11-A (2) $ 12,016,785.27 April 25, 2036 I-11-B (2) $ 12,016,785.27 April 25, 2036 I-12-A (2) $ 11,498,594.12 April 25, 2036 I-12-B (2) $ 11,498,594.12 April 25, 2036 I-13-A (2) $ 11,003,859.79 April 25, 2036 I-13-B (2) $ 11,003,859.79 April 25, 2036 I-14-A (2) $ 10,531,487.24 April 25, 2036 I-14-B (2) $ 10,531,487.24 April 25, 2036 I-15-A (2) $ 10,080,433.38 April 25, 2036 I-15-B (2) $ 10,080,433.38 April 25, 2036 I-16-A (2) $ 9,649,704.80 April 25, 2036 I-16-B (2) $ 9,649,704.80 April 25, 2036 I-17-B (2) $ 9,238,355.19 April 25, 2036 I-18-A (2) $ 8,845,483.22 April 25, 2036 I-18-B (2) $ 8,845,483.22 April 25, 2036 I-19-A (2) $ 8,470,230.27 April 25, 2036 I-19-B (2) $ 8,470,230.27 April 25, 2036 I-20-A (2) $ 8,111,778.51 April 25, 2036 I-20-B (2) $ 8,111,778.51 April 25, 2036 I-21-A (2) $ 7,769,276.09 April 25, 2036 I-21-B (2) $ 7,769,276.09 April 25, 2036 I-22-B (2) $ 7,439,619.58 April 25, 2036 I-23-A (2) $ 7,127,286.24 April 25, 2036 I-23-B (2) $ 7,127,286.24 April 25, 2036 I-24-A (2) $ 33,024,835.99 April 25, 2036 I-24-B (2) $ 33,024,835.99 April 25, 2036 I-25-A (2) $ 5,267,523.34 April 25, 2036 I-25-B (2) $ 5,267,523.34 April 25, 2036 I-26-A (2) $ 5,057,082.14 April 25, 2036 I-26-B (2) $ 5,057,082.14 April 25, 2036 I-27-A (2) $ 4,855,665.26 April 25, 2036 I-27-B (2) $ 4,855,665.26 April 25, 2036 I-28-A (2) $ 4,662,865.65 April 25, 2036 I-28-B (2) $ 4,662,865.65 April 25, 2036 I-29-A (2) $ 4,478,295.26 April 25, 2036 I-29-B (2) $ 4,478,295.26 April 25, 2036 I-30-A (2) $ 4,301,584.10 April 25, 2036 I-30-B (2) $ 4,301,584.10 April 25, 2036 I-31-B (2) $ 4,132,379.37 April 25, 2036 I-32-A (2) $ 3,970,338.99 April 25, 2036 I-32-B (2) $ 3,970,338.99 April 25, 2036 I-33-A (2) $ 3,815,154.05 April 25, 2036 I-33-B (2) $ 3,815,154.05 April 25, 2036 I-34-A (2) $ 3,666,433.93 April 25, 2036 I-34-B (2) $ 3,666,433.93 April 25, 2036 I-35-A (2) $ 3,523,999.22 April 25, 2036 I-35-B (2) $ 3,523,999.22 April 25, 2036 I-36-A (2) $ 6,569,745.64 April 25, 2036 I-36-B (2) $ 6,569,745.64 April 25, 2036 I-37-A (2) $ 3,102,027.62 April 25, 2036 I-37-B (2) $ 3,102,027.62 April 25, 2036 I-38-A (2) $ 2,984,318.66 April 25, 2036 I-38-B (2) $ 2,984,318.66 April 25, 2036 I-39-A (2) $ 2,871,455.53 April 25, 2036 I-39-B (2) $ 2,871,455.53 April 25, 2036 I-40-A (2) $ 2,763,225.70 April 25, 2036 I-40-B (2) $ 2,763,225.70 April 25, 2036 I-41-A (2) $ 2,659,426.43 April 25, 2036 I-41-B (2) $ 2,659,426.43 April 25, 2036 I-42-A (2) $ 2,559,864.19 April 25, 2036 I-42-B (2) $ 2,559,864.19 April 25, 2036 I-43-A (2) $ 2,464,354.34 April 25, 2036 I-43-B (2) $ 2,464,354.34 April 25, 2036 I-44-A (2) $ 2,372,720.63 April 25, 2036 I-44-B (2) $ 2,372,720.63 April 25, 2036 I-45-A (2) $ 2,284,794.83 April 25, 2036 I-45-B (2) $ 2,284,794.83 April 25, 2036 I-46-B (2) $ 2,200,416.35 April 25, 2036 I-47-A (2) $ 2,119,431.92 April 25, 2036 I-47-B (2) $ 2,119,431.92 April 25, 2036 I-48-A (2) $ 2,041,695.19 April 25, 2036 I-48-B (2) $ 2,041,695.19 April 25, 2036 I-49-A (2) $ 1,967,066.47 April 25, 2036 I-49-B (2) $ 1,967,066.47 April 25, 2036 I-50-A (2) $ 1,895,412.35 April 25, 2036 I-50-B (2) $ 1,895,412.35 April 25, 2036 I-51-A (2) $ 1,826,605.45 April 25, 2036 I-51-B (2) $ 1,826,605.45 April 25, 2036 I-52-A (2) $ 1,760,524.14 April 25, 2036 I-52-B (2) $ 1,760,524.14 April 25, 2036 I-53-A (2) $ 1,697,052.26 April 25, 2036 I-53-B (2) $ 1,697,052.26 April 25, 2036 I-54-A (2) $ 1,636,078.85 April 25, 2036 I-54-B (2) $ 1,636,078.85 April 25, 2036 I-55-A (2) $ 1,577,497.98 April 25, 2036 I-55-B (2) $ 1,577,497.98 April 25, 2036 I-56-A (2) $ 1,521,208.38 April 25, 2036 I-56-B (2) $ 1,521,208.38 April 25, 2036 I-57-A (2) $ 1,467,139.55 April 25, 2036 I-57-B (2) $ 1,467,139.55 April 25, 2036 I-58-A (2) $ 1,415,178.23 April 25, 2036 I-58-B (2) $ 1,415,178.23 April 25, 2036 I-59-A (2) $ 1,365,210.94 April 25, 2036 I-59-B (2) $ 1,365,210.94 April 25, 2036 I-60-A (2) $ 11,292,474.54 April 25, 2036 I-60-B (2) $ 11,292,474.54 April 25, 2036 I-61-A (2) $ 785,203.65 April 25, 2036 I-61-B (2) $ 785,203.65 April 25, 2036 I-62-A (2) $ 764,417.47 April 25, 2036 I-62-B (2) $ 764,417.47 April 25, 2036 I-63-A (2) $ 744,179.02 April 25, 2036 I-63-B (2) $ 744,179.02 April 25, 2036 I-64-A (2) $ 724,473.93 April 25, 2036 I-64-B (2) $ 724,473.93 April 25, 2036 I-65-A (2) $ 705,288.18 April 25, 2036 I-65-B (2) $ 705,288.18 April 25, 2036 I-66-A (2) $ 686,608.12 April 25, 2036 I-66-B (2) $ 686,608.12 April 25, 2036 I-67-A (2) $ 668,420.52 April 25, 2036 I-67-B (2) $ 668,420.52 April 25, 2036 I-68-A (2) $ 650,712.39 April 25, 2036 I-68-B (2) $ 650,712.39 April 25, 2036 I-69-A (2) $ 633,471.16 April 25, 2036 I-69-B (2) $ 633,471.16 April 25, 2036 I-70-A (2) $ 616,684.58 April 25, 2036 I-70-B (2) $ 616,684.58 April 25, 2036 I-71-A (2) $ 600,340.67 April 25, 2036 I-71-B (2) $ 600,340.67 April 25, 2036 I-72-A (2) $ 21,905,664.84 April 25, 2036 I-72-B (2) $ 21,905,664.84 April 25, 2036 II (2) $ 145,226,751.56 April 25, 2036 P (2) $ 100.00 April 25, 2036

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the DSLA Mortgage Loan Trust 2005-AR4 DSLA Mortgage Pass-Through Certificates, Series 2005-AR4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of eighteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A1A Certificates, (iii) the Class 2-A1B Certificates, (iv) the Class 2-A1C Certificates, (v) the Class 2-A1D Certificates, (vi) the Class 2-A2 Certificates, (vii) the Class X-1 Certificates, (viii) the Class X-2, (ix) the Class PO Certificates (x) the Class A-R Certificate, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class B-7 Certificates and (xviii) the Class A-R-II Certificate. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes will be treated as two separate comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the "Upper-Tier REMIC" and alternative, the "“Lower-Tier REMIC," respectively, ” the “Middle-Tier REMIC,” and each, a "the “Upper-Tier REMIC"”). The Senior Certificates (Each Certificate, other than the Class CBA-IOR and Class A-R-II Certificates, Class SESshall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class 1-A-R, Class 12-A1A, Class 2-A1B, Class 2-A1C, Class 2-A1D, Class 2-A2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6, and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls. The Class X-2 Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-LR R Certificate represents the ownership of the sole residual interest in each of the Middle-Tier REMIC and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1A-PO Component, Class 1R-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, II Certificate represents ownership of the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the UpperLower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests in the Lower-Tier REMIC, other than the Class 1LT-AR Interest, and each such Lower-LR Certificate shall be the "residual interest" Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Certificates and Upper-Tier REMIC shall hold as assets the Uncertificated Loweruncertificated Middle-Tier Interests will represent in the entire beneficial ownership Middle-Tier REMIC, other than the Class MT-R Interest, and each such Middle-Tier Interest is hereby designated as a regular interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Middle-Tier REMIC.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-7 Mortgage Loan Pass-Through Certificates, Series 2005-7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of twenty-four classes of certificates, designated as (i) the Class 1-A1 Certificates, (ii) the Class 1-A2 Certificates, (iii) the Class 2-A1 Certificates, (iv) the Class 2-A2A Certificates, (v) the Class 2-A2B Certificates, (vi) the Class 1-X Certificates, (vii) the Class 2-X Certificates, (viii) the Class 1-PO Certificates, (ix) the Class 2-PO Certificates, (x) the Class A-R Certificates, (xi) the Class 1-B1 Certificates, (xii) the Class 1-B2 Certificates, (xiii) the Class 1-B3 Certificates, (xiv) the Class 1-B4 Certificates, (xv) the Class 1-B5 Certificates, (xvi) the Class 1-B6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates and (xxiv) the Class P Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Group 1 and Group 2 Basis Risk Reserve Funds and the Yield Maintenance Account and the Yield Maintenance Agreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “REMIC” or, in the "alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"”). The Senior Certificates (Each Certificate, other than the Class CBA-IOR and Class AR-II Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the COFI and LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Group 1 and Group 2 Basis Risk Reserve Funds as provided in Section 5.07 and (ii) the Class 2-A1, Class SES2-A2A, and Class 2-A2B Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class 1-X Certificates beneficially own the Group 1 Basis Risk Reserve Fund and the owners of the Class 2-X Certificates beneficially own the Group 2 Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R, Class 1-AII Certificate represents the sole class of residual interest in the Lower-LR and Class PO Certificates), the Class 30-B Certificates Tier REMIC and the Class 4A-B Certificates are referred to collectively as R Certificate represents the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests REMIC shall constitute hold as assets all property of the "regular interests" Trust Fund other than the Excluded Trust Property and the interests in the Lower-Tier REMICREMIC formed hereby. The Class 1-A-R Certificate Upper Tier REMIC shall be hold as assets the "residual interest" in the Upperuncertificated Lower-Tier REMIC and Interests, other than the Class 1LT-A-LR Certificate shall be the "residual interest" in the R Interest. Each such Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created Interest is hereby will be the designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: LT1-A1 (1) $ 104,576,050.00 Class 1-A1 & A-R LT1-A2 (1) $ 26,144,500.00 Class 1-A2 LT1B-6 (1) $ 643,116.06 Class 1-B-6 LT1Q (1) $ 136,925,537.41 N/A LT1Z (1) $ 2,852,614.32 N/A LT1Y (1) $ 2,852,614.32 N/A LT2-A1 (2) $ 138,132,500.00 Class 2-A1 LT2-A2A (2) $ 61,214,500.00 Class 2-A1A LT2-A2B (2) $ 30,874,500.00 Class 2-A1B LT2B-1 (2) $ 6,012,500.00 Class 2-B-1 LT2B-2 (2) $ 4,759,500.00 Class 2-B-2 LT2B-3 (2) $ 3,507,000.00 Class 2-B-3 LT2B-4 (2) $ 3,131,000.00 Class 2-B-4 LT2B-5 (2) $ 1,628,000.00 Class 2-B-5 LT2B-6 (2) $ 1,253,785.56 Class 2-B-6 LT2Q (2) $ 240,492,852.13 N/A LT2Z (2) $ 5,010,266.71 N/A LT2Y (2) $ 5,010,266.71 N/A LT-R (2) (2) Class A-R-II __________________________

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-13 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of ten classes of certificates, designated as (i) the Class A Certificates, (ii) the Class X Certificates, (iii) the Class A-R Certificates, (iv) the Class B-1 Certificates, (v) the Class B-2 Certificates, (vi) the Class B-3 Certificates, (vii) the Class B-4 Certificates, (viii) the Class B-5 Certificates, (ix) the Class B-6 Certificates and (x) the Class P Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreement, the Final Maturity Reserve Trust, the Final Maturity Reserve Account and the Collateral Account (the "“Excluded Trust Property”)) comprises two REMICs in a tiered REMIC structure: the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and .” Each Certificate, other than the "LowerClass A-R Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC," respectively, as described herein. The Class A, Class B-1, Class B-2 and each, a "REMIC"Class B-3 Certificates represent the right to receive (i) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 5.01(g). The Senior owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund, the Yield Maintenance Account, the Final Maturity Reserve Account and the Final Maturity Reserve Trust. Each Class of Certificates (other than the Class CB-IO, X Certificates) represents the right to receive payments in respect of the Final Maturity Reserve Account. The Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), R Certificate represents the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, as well as the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" sole residual interest in the Lower-Tier REMIC. The Class 1Lower-A-R Certificate Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and shall issue 12 uncertificated interests, 11 of which shall be the "residual interest" in the Upper“Lower-Tier REMIC Regular Interests” and one residual interest (the Class 1“LT-A-LR Certificate shall be R Interest”), which will represent the "sole class of residual interest" interest in the Lower-Tier REMIC. The Certificates and Trustee will hold the Uncertificated Lower-Tier Regular Interests will represent as assets of the entire beneficial ownership interest in the TrustUpper-Tier REMIC. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of (or describes) the Certificates designation, interest rate, and initial principal balance for each interest in the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Lower-Tier REMIC: Lower-Tier REMIC Interest Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates may be issued in any amount in excess of the minimum denomination):LT-A (1) $ 380,792,000.00 A LT-AR (1) $ 100.00 A-R LT-P (1) $ 100.00 P LT-I (2) (2) N/A LT-R (3) (3) N/A __________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple Classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two Classes of Certificates, designated as (i) the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class P Certificates, (v) the Class CE-1 and Class CE-2 Certificates, (vi) the Class R Certificates and (vii) the Class R-X Certificates. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders its interests and rights in the Mortgage Loans. As provided herein, for federal income tax purposes, the Trustee will elect to treat the segregated pools of assets subject to this Agreement (exclusive of the Cap Account, the Basis Risk Reserve Fund, the Supplemental Interest Trust and the Swap Account) as ten real estate mortgage investment conduits (each, a “REMIC”): the Subsidiary REMIC 1, the Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class ▇▇ ▇▇▇▇▇, the Class P REMIC and the four Class B REMICs. The Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. The Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” in the Subsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in the Subsidiary REMIC 1. The Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. The Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class CE-1, Class CE-2, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class BM Interests, which will represent the “regular interests” in the Master REMIC and (ii) the Class MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class ▇▇ ▇▇▇▇▇. The assets of the Class ▇▇ ▇▇▇▇▇ will consist of the Class CEM Interest in the Master REMIC and interests in the Class ▇▇ ▇▇▇▇▇ will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class ▇▇ ▇▇▇▇▇ and (ii) the Class CER-X Interest, which will represent the single class of “residual interest” in the Class ▇▇ ▇▇▇▇▇. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class SR2, Class IR, and Class MR Interests, and the Class R-X Certificates will represent ownership of the residual interest in each of the Class ▇▇ ▇▇▇▇▇, the Class P REMIC and the four Class B REMICs. The “latest possible maturity date" ” for federal income tax purposes of all REMICs, and regular and residual interests created hereby will be hereunder is the REMIC Certificate Maturity Date36th month following the month of the scheduled maturity of the Mortgage Loan held in the Trust Fund as of the Closing Date having the latest maturity date. The following table sets forth characteristics Subsidiary REMIC 1 Interests, each of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each for the Class of Certificates may be issued SR1 Interests) is hereby designated a REMIC regular interest for federal income tax purposes, will have the principal balances and pass-through rates as set forth in any amount in excess of the minimum denomination):following table: Class LT1-Pool (1) (1) Class LT1-F1 $ 8,455,574.51 (2) Class LT1-V1 $ 8,455,574.51 (3) Class LT1-F2 $ 9,745,591.63 (2) Class LT1-V2 $ 9,745,591.63 (3) Class LT1-F3 $ 10,971,141.89 (2) Class LT1-V3 $ 10,971,141.89 (3) Class LT1-F4 $ 12,147,327.14 (2) Class LT1-V4 $ 12,147,327.14 (3) Class LT1-F5 $ 13,246,206.33 (2) Class LT1-V5 $ 13,246,206.33 (3) Class LT1-F6 $ 14,274,602.86 (2) Class LT1-V6 $ 14,274,602.86 (3) Class LT1-F7 $ 15,152,326.46 (2) Class LT1-V7 $ 15,152,326.46 (3) Class LT1-F8 $ 15,511,251.03 (2) Class LT1-V8 $ 15,511,251.03 (3) Class LT1-F9 $ 15,437,985.87 (2) Class LT1-V9 $ 15,437,985.87 (3) Class LT1-F10 $ 15,088,232.42 (2) Class LT1-V10 $ 15,088,232.42 (3) Class LT1-F11 $ 14,534,144.56 (2) Class LT1-V11 $ 14,534,144.56 (3) Class LT1-F12 $ 13,875,556.71 (2) Class LT1-V12 $ 13,875,556.71 (3) Class LT1-F13 $ 13,243,216.32 (2) Class LT1-V13 $ 13,243,216.32 (3) Class LT1-F14 $ 12,650,928.67 (2) Class LT1-V14 $ 12,650,928.67 (3) Class LT1-F15 $ 12,100,883.68 (2) Class LT1-V15 $ 12,100,883.68 (3) Class LT1-F16 $ 11,559,804.60 (2) Class LT1-V16 $ 11,559,804.60 (3) Class LT1-F17 $ 11,062,424.83 (2) Class LT1-V17 $ 11,062,424.83 (3) Class LT1-F18 $ 10,610,513.60 (2) Class LT1-V18 $ 10,610,513.60 (3) Class LT1-F19 $ 19,978,798.39 (2) Class LT1-V19 $ 19,978,798.39 (3) Class LT1-F20 $ 32,131,670.88 (2) Class LT1-V20 $ 32,131,670.88 (3) Class LT1-F21 $ 12,512,363.37 (2) Class LT1-V21 $ 12,512,363.37 (3) Class LT1-F22 $ 24,913,525.07 (2) Class LT1-V22 $ 24,913,525.07 (3) Class LT1-F23 $ 11,224,061.29 (2) Class LT1-V23 $ 11,224,061.29 (3) Class LT1-F24 $ 5,764,043.39 (2) Class LT1-V24 $ 5,764,043.39 (3)

PRELIMINARY STATEMENT. In exchange for the Certificates, The Board of Directors of the Depositor hereby conveys has duly authorized the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits formation of a trust (the "UpperTrust") to issue a series of asset backed certificates with an aggregate initial Certificate Principal Balance of $490,000,000 to be known as the Saxon Asset Securities Trust 2001-Tier REMIC" and 1, Mortgage Loan Asset Backed Certificates, Series 2001-1 (the "Lower-Tier REMIC," respectively, and each, a "REMICCertificates"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent aggregate evidence the entire beneficial ownership interest in the Trust. The Certificates consist of the following: the Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5, Class AF-6, Class MF-1, Class MF-2, Class BF-1, Class AV-1, Class MV-1, Class MV-2, Class BV-1, Class A-IO, Class PF-1, Class PV-1, Class C and Class R Certificates. In accordance with Section 10.01 of the Standard Terms, the Trustee will make elections to treat each of the segregated pools of assets described below as a real estate mortgage investment conduit (each a "REMIC" or, in the alternative, the POOLING REMIC, the SECOND-TIER REMIC, and the ISSUING REMIC). The Certificates, other than the Class R Certificates, represent ownership of the regular interests in the ISSUING REMIC for purposes of the REMIC Provisions. The Class R Certificates represents ownership of the sole class of residual interest in each of the POOLING REMIC, the SECOND-TIER REMIC, and the ISSUING REMIC for purposes of the REMIC Provisions. The ISSUING REMIC shall hold as its assets the several classes of uncertificated Lower Tier Interests in the SECOND-TIER REMIC, other than the Class LT2-R Interest, and each such Lower Tier Interest is hereby designated as a regular interest in the SECOND-TIER REMIC for purposes of the REMIC Provisions. The SECOND-TIER REMIC shall hold as its assets the several classes of uncertificated Lower Tier Interests in the POOLING REMIC, other than the Class LT1-R Interest, and each such Lower Tier Interest is hereby designated as a regular interest in the POOLING REMIC. The POOLING REMIC shall hold as its assets the property of the Trust Estate other than the Lower Tier Interests in the POOLING REMIC and the SECOND-TIER REMIC, the Prefunding Account and the Capitalized Interest Account. The startup day for each REMIC created hereby for purposes of the REMIC Provisions is the Closing Date. In addition, for purposes of the REMIC Provisions, the latest possible maturity date" date for federal income tax purposes of all interests each regular interest in each REMIC created hereby will be is the Distribution Date in March 2033. POOLING REMIC Certificate Maturity Date. The following table sets forth characteristics (or describes) the class designation, interest rate, and principal amount for each class of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each POOLING REMIC Lower Tier Interests. POOLING REMIC POOLING REMIC Lower Tier Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower Tier Initial Class Designation Interest Rate Principal Amount ----------- ------------- ----------------

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component sell pass‑through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II‑A4 Certificates, (vi) the Class M‑1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M‑4 Certificates, (x) the Class M‑5 Certificates, (xi) the Class M‑6 Certificates, (xii) the Class M‑7 Certificates, (xiii) the Class M‑8 Certificates, (xiv) the Class M‑9 Certificates, (xv) the Class B Certificates, (xvi) the Class C Certificates, (xvii) the Class P Certificates, (xviii) the Class R Certificates, (xix) the Class R‑CX Certificates and (xx) the Class R‑PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Supplemental Interest Account, the Swap Agreement the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Assumed Final Maturity Date1 IX $ 71,489,876.61 Variable2 July 25, 2049 I-1-A $ 905,858.58 Variable2 July 25, 2049 I-1-B $ 905,858.58 Variable2 July 25, 2049 I-2-B $ 1,197,433.72 Variable2 July 25, 2049 I-3-B $ 1,451,772.20 Variable2 July 25, 2049 I-4-B $ 1,697,595.76 Variable2 July 25, 2049 I-5-A $ 528,759.23 Variable2 July 25, 2049 I-5-B $ 528,759.23 Variable2 July 25, 2049 I-6-A $ 766,429.29 Variable2 July 25, 2049 I-6-B $ 766,429.29 Variable2 July 25, 2049 I-7-A $ 977,920.28 Variable2 July 25, 2049 I-7-B $ 977,920.28 Variable2 July 25, 2049 I-8-B $ 1,184,672.56 Variable2 July 25, 2049 I-9-B $ 1,438,548.39 Variable2 July 25, 2049 I-10-A $ 2,093,305.59 Variable2 July 25, 2049 I-10-B $ 2,093,305.59 Variable2 July 25, 2049 I-11-A $ 2,769,503.63 Variable2 July 25, 2049 I-11-B $ 2,769,503.63 Variable2 July 25, 2049 I-12-A $ 3,131,850.53 Variable2 July 25, 2049 I-12-B $ 3,131,850.53 Variable2 July 25, 2049 I-13-A $ 2,996,878.94 Variable2 July 25, 2049 I-13-B $ 2,996,878.94 Variable2 July 25, 2049 I-14-A $ 2,808,347.52 Variable2 July 25, 2049 I-14-B $ 2,808,347.52 Variable2 July 25, 2049 I-15-A $ 2,632,020.11 Variable2 July 25, 2049 I-15-B $ 2,632,020.11 Variable2 July 25, 2049 I-16-A $ 2,472,875.05 Variable2 July 25, 2049 I-16-B $ 2,472,875.05 Variable2 July 25, 2049 I-17-A $ 2,354,427.43 Variable2 July 25, 2049 I-17-B $ 2,354,427.43 Variable2 July 25, 2049 I-18-A $ 2,238,858.03 Variable2 July 25, 2049 I-18-B $ 2,238,858.03 Variable2 July 25, 2049 I-19-A $ 2,114,379.24 Variable2 July 25, 2049 I-19-B $ 2,114,379.24 Variable2 July 25, 2049 I-20-A $ 2,001,293.57 Variable2 July 25, 2049 I-20-B $ 2,001,293.57 Variable2 July 25, 2049 I-21-A $ 1,104,574.30 Variable2 July 25, 2049 I-21-B $ 1,104,574.30 Variable2 July 25, 2049 I-22-B $ 36,167,417.07 Variable2 July 25, 2049 I-23-A $ 3,082,227.06 Variable2 July 25, 2049 I-23-B $ 3,082,227.06 Variable2 July 25, 2049 I-24-A $ 2,690,789.82 Variable2 July 25, 2049 I-24-B $ 2,690,789.82 Variable2 July 25, 2049 I-25-A $ 2,131,241.07 Variable2 July 25, 2049 I-25-B $ 2,131,241.07 Variable2 July 25, 2049 I-26-A $ 1,796,099.98 Variable2 July 25, 2049 I-26-B $ 1,796,099.98 Variable2 July 25, 2049 I-27-A $ 1,558,452.33 Variable2 July 25, 2049 I-27-B $ 1,558,452.33 Variable2 July 25, 2049 I-28-A $ 1,389,196.45 Variable2 July 25, 2049 I-28-B $ 1,389,196.45 Variable2 July 25, 2049 I-29-A $ 1,262,341.15 Variable2 July 25, 2049 I-29-B $ 1,262,341.15 Variable2 July 25, 2049 I-30-A $ 1,173,382.50 Variable2 July 25, 2049 I-30-B $ 1,173,382.50 Variable2 July 25, 2049 I-31-B $ 1,125,096.11 Variable2 July 25, 2049 I-32-A $ 1,077,004.53 Variable2 July 25, 2049 I-32-B $ 1,077,004.53 Variable2 July 25, 2049 I-33-A $ 1,099,168.22 Variable2 July 25, 2049 I-33-B $ 1,099,168.22 Variable2 July 25, 2049 I-34-A $ 1,391,544.08 Variable2 July 25, 2049 I-34-B $ 1,391,544.08 Variable2 July 25, 2049 I-35-A $ 165,693.41 Variable2 July 25, 2049 I-35-B $ 165,693.41 Variable2 July 25, 2049 I-36-A $ 1,511,188.73 Variable2 July 25, 2049 I-36-B $ 1,511,188.73 Variable2 July 25, 2049 I-37-A $ 944,329.49 Variable2 July 25, 2049 I-37-B $ 944,329.49 Variable2 July 25, 2049 I-38-A $ 872,970.08 Variable2 July 25, 2049 I-38-B $ 872,970.08 Variable2 July 25, 2049 I-39-A $ 807,008.19 Variable2 July 25, 2049 I-39-B $ 807,008.19 Variable2 July 25, 2049 I-40-A $ 746,097.21 Variable2 July 25, 2049 I-40-B $ 746,097.21 Variable2 July 25, 2049 I-41-A $ 712,328.03 Variable2 July 25, 2049 I-41-B $ 712,328.03 Variable2 July 25, 2049 I-42-A $ 654,200.27 Variable2 July 25, 2049 I-42-B $ 654,200.27 Variable2 July 25, 2049 I-43-A $ 630,911.64 Variable2 July 25, 2049 I-43-B $ 630,911.64 Variable2 July 25, 2049 I-44-A $ 570,729.28 Variable2 July 25, 2049 I-44-B $ 570,729.28 Variable2 July 25, 2049 I-45-A $ 552,847.66 Variable2 July 25, 2049 I-45-B $ 552,847.66 Variable2 July 25, 2049 I-46-A $ 537,378.60 Variable2 July 25, 2049 I-46-B $ 537,378.60 Variable2 July 25, 2049 I-47-A $ 517,003.07 Variable2 July 25, 2049 I-47-B $ 517,003.07 Variable2 July 25, 2049 I-48-A $ 505,493.24 Variable2 July 25, 2049 I-48-B $ 505,493.24 Variable2 July 25, 2049 I-49-A $ 491,643.19 Variable2 July 25, 2049 I-49-B $ 491,643.19 Variable2 July 25, 2049 I-50-A $ 483,292.12 Variable2 July 25, 2049 I-50-B $ 483,292.12 Variable2 July 25, 2049 I-51-A $ 472,067.00 Variable2 July 25, 2049 I-51-B $ 472,067.00 Variable2 July 25, 2049 I-52-A $ 460,767.00 Variable2 July 25, 2049 I-52-B $ 460,767.00 Variable2 July 25, 2049 I-53-A $ 449,335.29 Variable2 July 25, 2049 I-53-B $ 449,335.29 Variable2 July 25, 2049 I-54-A $ 437,874.92 Variable2 July 25, 2049 I-54-B $ 437,874.92 Variable2 July 25, 2049 I-55-A $ 426,760.03 Variable2 July 25, 2049 I-55-B $ 426,760.03 Variable2 July 25, 2049 I-56-A $ 410,928.16 Variable2 July 25, 2049 I-56-B $ 410,928.16 Variable2 July 25, 2049 I-57-A $ 394,258.59 Variable2 July 25, 2049 I-57-B $ 394,258.59 Variable2 July 25, 2049 I-58-A $ 376,724.07 Variable2 July 25, 2049 I-58-B $ 376,724.07 Variable2 July 25, 2049 I-59-A $ 12,295,683.04 Variable2 July 25, 2049 I-59-B $ 12,295,683.04 Variable2 July 25, 2049 IIX $ 83,191,014.24 Variable2 July 25, 2049 II-1-A $ 1,054,123.92 Variable2 July 25, 2049 II-1-B $ 1,054,123.92 Variable2 July 25, 2049 II-2-A $ 1,393,422.28 Variable2 July 25, 2049 II-2-B $ 1,393,422.28 Variable2 July 25, 2049 II-3-A $ 1,689,389.30 Variable2 July 25, 2049 II-3-B $ 1,689,389.30 Variable2 July 25, 2049 II-4-A $ 1,975,447.74 Variable2 July 25, 2049 II-4-B $ 1,975,447.74 Variable2 July 25, 2049 II-5-A $ 615,303.27 Variable2 July 25, 2049 II-5-B $ 615,303.27 Variable2 July 25, 2049 II-6-A $ 891,873.71 Variable2 July 25, 2049 II-6-B $ 891,873.71 Variable2 July 25, 2049 II-7-A $ 1,137,980.22 Variable2 July 25, 2049 II-7-B $ 1,137,980.22 Variable2 July 25, 2049 II-8-A $ 1,378,572.44 Variable2 July 25, 2049 II-8-B $ 1,378,572.44 Variable2 July 25, 2049 II-9-A $ 1,674,001.11 Variable2 July 25, 2049 II-9-B $ 1,674,001.11 Variable2 July 25, 2049 II-10-A $ 2,435,924.91 Variable2 July 25, 2049 II-10-B $ 2,435,924.91 Variable2 July 25, 2049 II-11-A $ 3,222,798.87 Variable2 July 25, 2049 II-11-B $ 3,222,798.87 Variable2 July 25, 2049 II-12-A $ 3,644,452.47 Variable2 July 25, 2049 II-12-B $ 3,644,452.47 Variable2 July 25, 2049 II-13-A $ 3,487,389.56 Variable2 July 25, 2049 II-13-B $ 3,487,389.56 Variable2 July 25, 2049 II-14-A $ 3,268,000.48 Variable2 July 25, 2049 II-14-B $ 3,268,000.48 Variable2 July 25, 2049 II-15-A $ 3,062,812.89 Variable2 July 25, 2049 II-15-B $ 3,062,812.89 Variable2 July 25, 2049 II-16-A $ 2,877,619.95 Variable2 July 25, 2049 II-16-B $ 2,877,619.95 Variable2 July 25, 2049 II-17-A $ 2,739,785.57 Variable2 July 25, 2049 II-17-B $ 2,739,785.57 Variable2 July 25, 2049 II-18-A $ 2,605,300.47 Variable2 July 25, 2049 II-18-B $ 2,605,300.47 Variable2 July 25, 2049 II-19-A $ 2,460,447.76 Variable2 July 25, 2049 II-19-B $ 2,460,447.76 Variable2 July 25, 2049 II-20-A $ 2,328,852.93 Variable2 July 25, 2049 II-20-B $ 2,328,852.93 Variable2 July 25, 2049 II-21-A $ 1,285,364.20 Variable2 July 25, 2049 II-21-B $ 1,285,364.20 Variable2 July 25, 2049 II-22-A $ 42,087,076.43 Variable2 July 25, 2049 II-22-B $ 42,087,076.43 Variable2 July 25, 2049 II-23-A $ 3,586,706.94 Variable2 July 25, 2049 II-23-B $ 3,586,706.94 Variable2 July 25, 2049 II-24-A $ 3,131,201.68 Variable2 July 25, 2049 II-24-B $ 3,131,201.68 Variable2 July 25, 2049 II-25-A $ 2,480,069.43 Variable2 July 25, 2049 II-25-B $ 2,480,069.43 Variable2 July 25, 2049 II-26-A $ 2,090,074.52 Variable2 July 25, 2049 II-26-B $ 2,090,074.52 Variable2 July 25, 2049 II-27-A $ 1,813,530.17 Variable2 July 25, 2049 II-27-B $ 1,813,530.17 Variable2 July 25, 2049 II-28-A $ 1,616,571.55 Variable2 July 25, 2049 II-28-B $ 1,616,571.55 Variable2 July 25, 2049 II-29-A $ 1,468,953.35 Variable2 July 25, 2049 II-29-B $ 1,468,953.35 Variable2 July 25, 2049 II-30-A $ 1,365,434.50 Variable2 July 25, 2049 II-30-B $ 1,365,434.50 Variable2 July 25, 2049 II-31-A $ 1,309,244.89 Variable2 July 25, 2049 II-31-B $ 1,309,244.89 Variable2 July 25, 2049 II-32-A $ 1,253,281.97 Variable2 July 25, 2049 II-32-B $ 1,253,281.97 Variable2 July 25, 2049 II-33-A $ 1,279,073.28 Variable2 July 25, 2049 II-33-B $ 1,279,073.28 Variable2 July 25, 2049 II-34-A $ 1,619,303.42 Variable2 July 25, 2049 II-34-B $ 1,619,303.42 Variable2 July 25, 2049 II-35-A $ 192,813.09 Variable2 July 25, 2049 II-35-B $ 192,813.09 Variable2 July 25, 2049 II-36-A $ 1,758,530.77 Variable2 July 25, 2049 II-36-B $ 1,758,530.77 Variable2 July 25, 2049 II-37-A $ 1,098,891.51 Variable2 July 25, 2049 II-37-B $ 1,098,891.51 Variable2 July 25, 2049 II-38-A $ 1,015,852.42 Variable2 July 25, 2049 II-38-B $ 1,015,852.42 Variable2 July 25, 2049 II-39-A $ 939,094.31 Variable2 July 25, 2049 II-39-B $ 939,094.31 Variable2 July 25, 2049 II-40-A $ 868,213.79 Variable2 July 25, 2049 II-40-B $ 868,213.79 Variable2 July 25, 2049 II-41-A $ 828,917.47 Variable2 July 25, 2049 II-41-B $ 828,917.47 Variable2 July 25, 2049 II-42-A $ 761,275.73 Variable2 July 25, 2049 II-42-B $ 761,275.73 Variable2 July 25, 2049 II-43-A $ 734,175.36 Variable2 July 25, 2049 II-43-B $ 734,175.36 Variable2 July 25, 2049 II-44-A $ 664,142.72 Variable2 July 25, 2049 II-44-B $ 664,142.72 Variable2 July 25, 2049 II-45-A $ 643,334.34 Variable2 July 25, 2049 II-45-B $ 643,334.34 Variable2 July 25, 2049 II-46-A $ 625,333.40 Variable2 July 25, 2049 II-46-B $ 625,333.40 Variable2 July 25, 2049 II-47-A $ 601,622.93 Variable2 July 25, 2049 II-47-B $ 601,622.93 Variable2 July 25, 2049 II-48-A $ 588,229.26 Variable2 July 25, 2049 II-48-B $ 588,229.26 Variable2 July 25, 2049 II-49-A $ 572,112.31 Variable2 July 25, 2049 II-49-B $ 572,112.31 Variable2 July 25, 2049 II-50-A $ 562,394.38 Variable2 July 25, 2049 II-50-B $ 562,394.38 Variable2 July 25, 2049 II-51-A $ 549,332.00 Variable2 July 25, 2049 II-51-B $ 549,332.00 Variable2 July 25, 2049 II-52-A $ 536,182.50 Variable2 July 25, 2049 II-52-B $ 536,182.50 Variable2 July 25, 2049 II-53-A $ 522,879.71 Variable2 July 25, 2049 II-53-B $ 522,879.71 Variable2 July 25, 2049 II-54-A $ 509,543.58 Variable2 July 25, 2049 II-54-B $ 509,543.58 Variable2 July 25, 2049 II-55-A $ 496,609.47 Variable2 July 25, 2049 II-55-B $ 496,609.47 Variable2 July 25, 2049 II-56-A $ 478,186.34 Variable2 July 25, 2049 II-56-B $ 478,186.34 Variable2 July 25, 2049 II-57-A $ 458,788.41 Variable2 July 25, 2049 II-57-B $ 458,788.41 Variable2 July 25, 2049 II-58-A $ 438,383.93 Variable2 July 25, 2049 II-58-B $ 438,383.93 Variable2 July 25, 2049 II-59-A $ 14,308,164.46 Variable2 July 25, 2049 II-59-B $ 14,308,164.46 Variable2 July 25, 2049 P $ 100.00 Variable2 July 25, 2049 1 Solely for purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics Section 1.860G‑1(a)(4)(iii) of the Certificates and Treasury regulations, the Components, together Distribution Date in the month following the maturity date for the Mortgage Loan with the minimum denominations and integral multiples latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in excess thereof in which accordance with the Classes definition of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):“Uncertificated REMIC 1 Pass‑Through Rate” herein.

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2006-BU1 Mortgage Loan Pass-Through Certificates, Series 2006-BU1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class 1A-1B Certificates, (iii) the Class 2A-1A Certificates, (iv) the Class 2A-1B Certificate, (v) the Class 2A-1C Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class R Certificates, (xvi) the Class R-II Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates and (xix) the Class ES Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Class ES Distributable Amount (the "“Excluded Trust Property”)) comprises two REMICs in a tiered REMIC structure – the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively”. Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CBR Certificate, shall represent ownership of a regular interest in the Upper-IOTier REMIC, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates)as described herein. In addition, the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.08. The owners of the Class 30C Certificates beneficially own the Basis Risk Reserve Fund. The Class R-B Certificates II Certificate represents the sole class of residual interest in Lower-Tier REMIC and the Class 4-B Certificates are referred to collectively as R Certificate represents the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1Lower-PO Component, Class 1Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, Tier Regular Interests”) (which will be uncertificated and Class 4-SES Component (collectively, will represent the "Components") shall also constitute "regular interests" interests in the UpperLower-Tier REMIC. The Uncertificated Lower) and a residual interest (the “Class LT-Tier Interests shall constitute R Interest”) which will also be uncertificated and which will represent the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Class 1Trustee will hold the Lower-ATier Regular Interests as assets of the Upper-R Certificate shall be Tier REMIC. For purposes of the "residual interest" in REMIC Provisions, the startup day for the Lower-Tier REMIC and the Upper-Tier REMIC is the Closing Date. All REMIC regular and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of (or describes) the Certificates designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate initial principal balance of each Class Lower-Tier Interest in the Lower-Tier REMIC, each of Certificates may be issued which, other than the LT-R Lower-Tier Interest) is hereby designated as a regular interest in any amount in excess of the minimum denomination):Lower-Tier REMIC (the “Lower-Tier REMIC Regular Interests): LT-Group 1 (1) (4) N/A LT-SC1 (1) (5) N/A LT-Group 2 (2) (6) N/A LT-SC2 (2) (7) N/A LT-1A1A (3) (8) 1A-1A LT-1A1B (3) (8) 1A-1B LT-2A1A (3) (8) 2A-1A LT-2A1B (3) (8) ▇▇-▇▇ ▇▇-▇▇▇▇ (3) (8) 2A-1C LT-M1 (3) (8) M1 LT-M2 (3) (8) M2 LT-M3 (3) (8) M3 LT-M4 (3) (8) M4 LT-M5 (3) (8) M5 LT-M6 (3) (8) M6 LT-M7 (3) (8) M7 LT-M8 (3) (8) M8 LT-M9 (3) (8) M9 LT-Q (3) (9) N/A LT-R (10) (10) N/A

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "ComponentsCERTIFICATES") shall also constitute "regular interests" ), to be issued hereunder in multiple classes, which in the Upperaggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of ten classes of certificates, designated as (i) the Class A Certificates, (ii) the Class A-R Certificate, (iii) the Class LTA-R Certificate, (iv) the Class B-1 Certificates, (v) the Class B-2 Certificates, (vi) the Class B-3 Certificates, (vii) the Class B-4 Certificates, (viii) the Class B-5 Certificates and (ix) the Class B-6 Certificates. For federal income tax purposes, the Trust Fund will consist of two REMICs, the Lower Tier REMIC and the Upper Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute "LOWER TIER REMIC" will hold as its assets all of the assets constituting the Trust Fund and will issue the "LOWER TIER REMIC REGULAR INTERESTS" (which will be uncertificated and will represent the "regular interests" in the Lower-Lower Tier REMIC. The ) and the Class 1-ALTA-R Certificate shall Certificate, which will be the single "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Lower Tier REMIC. The Certificates Trustee will hold the Lower Tier REMIC Regular Interests. On each Distribution Date, following the allocation of Realized Losses and the Uncertificated Lower-payments of principal, each Lower Tier Interests REMIC Interest will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes have a principal balance equal to that of all interests created hereby will be the its Upper Tier REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Corresponding Class.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-four classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-2M Certificates, (iv) the Class A-3 Certificates, (v) the Class A-3M Certificates, (vi) the Class A-4 Certificates, (vii) the Class A-4M Certificates, (viii) the Class A-5 Certificates, (ix) the Class A-5M Certificates, (x) the Class A-6 Certificates, (xi) the Class A-6M Certificates, (xii) the Class A-7 Certificates, (xiii) the Class M-1 Certificates, (xiv) the Class M-2 Certificates, (xv) the Class M-3 Certificates, (xvi) the Class M-4 Certificates, (xvii) the Class M-5 Certificates, (xviii) the Class M-6 Certificates, (xix) the Class M-7 Certificates, (xx) the Class M-8 Certificates, (xxi) the Class B Certificates, (xxii) Class C Certificates, (xxiii) the Class P Certificates and (xxiv) the Class R Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the Supplemental Interest Trust, the Swap Account and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate (1) 1-1-A Variable(2) $ 4,035,240.13 November 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2036 1-1-B Variable(2) $ 4,035,240.13 November 25, 2036 1-2-A Variable(2) $ 10,270,515.54 November 25, 2036 1-2-B Variable(2) $ 10,270,515.54 November 25, 2036 1-3-A Variable(2) $ 11,473,338.76 November 25, 2036 1-3-B Variable(2) $ 11,473,338.76 November 25, 2036 1-4-A Variable(2) $ 12,664,406.46 November 25, 2036 1-4-B Variable(2) $ 12,664,406.46 November 25, 2036 1-5-A Variable(2) $ 13,828,621.13 November 25, 2036 1-5-B Variable(2) $ 13,828,621.13 November 25, 2036 1-6-A Variable(2) $ 14,831,555.44 November 25, 2036 1-6-B Variable(2) $ 14,831,555.44 November 25, 2036 1-7-A Variable(2) $ 15,937,156.87 November 25, 2036 1-7-B Variable(2) $ 15,937,156.87 November 25, 2036 1-8-A Variable(2) $ 17,006,124.63 November 25, 2036 1-8-B Variable(2) $ 17,006,124.63 November 25, 2036 1-9-A Variable(2) $ 18,441,306.82 November 25, 2036 1-9-B Variable(2) $ 18,441,306.82 November 25, 2036 1-10-A Variable(2) $ 19,805,091.14 November 25, 2036 1-10-B Variable(2) $ 19,805,091.14 November 25, 2036 1-11-A Variable(2) $ 20,784,991.55 November 25, 2036 1-11-B Variable(2) $ 20,784,991.55 November 25, 2036 1-12-A Variable(2) $ 21,363,336.84 November 25, 2036 1-12-B Variable(2) $ 21,363,336.84 November 25, 2036 1-13-A Variable(2) $ 21,951,123.30 November 25, 2036 1-13-B Variable(2) $ 21,951,123.30 November 25, 2036 1-14-A Variable(2) $ 22,485,948.91 November 25, 2036 1-14-B Variable(2) $ 22,485,948.91 November 25, 2036 1-15-A Variable(2) $ 22,965,095.29 November 25, 2036 1-15-B Variable(2) $ 22,965,095.29 November 25, 2036 1-16-A Variable(2) $ 23,374,043.22 November 25, 2036 1-16-B Variable(2) $ 23,374,043.22 November 25, 2036 1-17-A Variable(2) $ 23,537,333.58 November 25, 2036 1-17-B Variable(2) $ 23,537,333.58 November 25, 2036 1-18-A Variable(2) $ 22,778,692.08 November 25, 2036 1-18-B Variable(2) $ 22,778,692.08 November 25, 2036 1-19-A Variable(2) $ 22,043,990.96 November 25, 2036 1-19-B Variable(2) $ 22,043,990.96 November 25, 2036 1-20-A Variable(2) $ 2,907,012.14 November 25, 2036 1-20-B Variable(2) $ 2,907,012.14 November 25, 2036 1-21-A Variable(2) $ 21,206,980.89 November 25, 2036 1-21-B Variable(2) $ 21,206,980.89 November 25, 2036 1-22-A Variable(2) $ 20,979,297.75 November 25, 2036 1-22-B Variable(2) $ 20,979,297.75 November 25, 2036 1-23-A Variable(2) $ 20,274,456.03 November 25, 2036 1-23-B Variable(2) $ 20,274,456.03 November 25, 2036 1-24-A Variable(2) $ 37,985,465.93 November 25, 2036 1-24-B Variable(2) $ 37,985,465.93 November 25, 2036 1-25-A Variable(2) $ 18,319,637.52 November 25, 2036 1-25-B Variable(2) $ 18,319,637.52 November 25, 2036 1-26-A Variable(2) $ 17,682,504.42 November 25, 2036 1-26-B Variable(2) $ 17,682,504.42 November 25, 2036 1-27-A Variable(2) $ 17,068,083.84 November 25, 2036 1-27-B Variable(2) $ 17,068,083.84 November 25, 2036 1-28-A Variable(2) $ 16,197,103.54 November 25, 2036 1-28-B Variable(2) $ 16,197,103.54 November 25, 2036 1-29-A Variable(2) $ 6,771,406.29 November 25, 2036 1-29-B Variable(2) $ 6,771,406.29 November 25, 2036 1-30-A Variable(2) $ 15,069,047.37 November 25, 2036 1-30-B Variable(2) $ 15,069,047.37 November 25, 2036 1-31-A Variable(2) $ 15,342,175.95 November 25, 2036 1-31-B Variable(2) $ 15,342,175.95 November 25, 2036 1-32-A Variable(2) $ 14,775,068.01 November 25, 2036 1-32-B Variable(2) $ 14,775,068.01 November 25, 2036 1-33-A Variable(2) $ 66,967,043.62 November 25, 2036 1-33-B Variable(2) $ 66,967,043.62 November 25, 2036 1-34-A Variable(2) $ 12,086,942.77 November 25, 2036 1-34-B Variable(2) $ 12,086,942.77 November 25, 2036 1-35-A Variable(2) $ 11,638,320.35 November 25, 2036 1-35-B Variable(2) $ 11,638,320.35 November 25, 2036 1-36-A Variable(2) $ 11,206,527.13 November 25, 2036 1-36-B Variable(2) $ 11,206,527.13 November 25, 2036 1-37-A Variable(2) $ 10,337,860.78 November 25, 2036 1-37-B Variable(2) $ 10,337,860.78 November 25, 2036 1-38-A Variable(2) $ 93,446,243.33 November 25, 2036 1-38-B Variable(2) $ 93,446,243.33 November 25, 2036 1-39-A Variable(2) $ 6,656,034.17 November 25, 2036 1-39-B Variable(2) $ 6,656,034.17 November 25, 2036 1-40-A Variable(2) $ 6,453,943.03 November 25, 2036 1-40-B Variable(2) $ 6,453,943.03 November 25, 2036 1-41-A Variable(2) $ 6,257,542.49 November 25, 2036 1-41-B Variable(2) $ 6,257,542.49 November 25, 2036 1-42-A Variable(2) $ 6,067,543.43 November 25, 2036 1-42-B Variable(2) $ 6,067,543.43 November 25, 2036 1-43-A Variable(2) $ 5,882,841.08 November 25, 2036 1-43-B Variable(2) $ 5,882,841.08 November 25, 2036 1-44-A Variable(2) $ 5,704,062.46 November 25, 2036 1-44-B Variable(2) $ 5,704,062.46 November 25, 2036 1-45-A Variable(2) $ 5,530,387.39 November 25, 2036 1-45-B Variable(2) $ 5,530,387.39 November 25, 2036 1-46-A Variable(2) $ 5,362,038.48 November 25, 2036 1-46-B Variable(2) $ 5,362,038.48 November 25, 2036 1-47-A Variable(2) $ 5,198,886.12 November 25, 2036 1-47-B Variable(2) $ 5,198,886.12 November 25, 2036 1-48-A Variable(2) $ 5,040,498.98 November 25, 2036 1-48-B Variable(2) $ 5,040,498.98 November 25, 2036 1-49-A Variable(2) $ 4,887,110.98 November 25, 2036 1-49-B Variable(2) $ 4,887,110.98 November 25, 2036 1-50-A Variable(2) $ 4,738,313.31 November 25, 2036 1-50-B Variable(2) $ 4,738,313.31 November 25, 2036 1-51-A Variable(2) $ 4,594,002.40 November 25, 2036 1-51-B Variable(2) $ 4,594,002.40 November 25, 2036 1-52-A Variable(2) $ 5,378,663.93 November 25, 2036 1-52-B Variable(2) $ 5,378,663.93 November 25, 2036 1-53-A Variable(2) $ 16,032,701.81 November 25, 2036 1-53-B Variable(2) $ 16,032,701.81 November 25, 2036 1-54-A Variable(2) $ 40,875,708.66 November 25, 2036 1-54-B Variable(2) $ 40,875,708.66 November 25, 2036 1-55-A Variable(2) $ 27,320,129.36 November 25, 2036 1-55-B Variable(2) $ 27,320,129.36 November 25, 2036 1-56-A Variable(2) $ 45,157,444.46 November 25, 2036 1-56-B Variable(2) $ 45,157,444.46 November 25, 2036 1-57-A Variable(2) $ 3,082,737.26 November 25, 2036 1-57-B Variable(2) $ 3,082,737.26 November 25, 2036 1-58-A Variable(2) $ 213,945.22 November 25, 2036 1-58-B Variable(2) $ 213,945.22 November 25, 2036 1-59-A Variable(2) $ 207,417.02 November 25, 2036 1-59-B Variable(2) $ 207,417.02 November 25, 2036 1-60-A Variable(2) $ 201,086.53 November 25, 2036 1-60-B Variable(2) $ 201,086.53 November 25, 2036 1-61-A Variable(2) $ 194,947.79 November 25, 2036 1-61-B Variable(2) $ 194,947.79 November 25, 2036 1-62-A Variable(2) $ 188,995.04 November 25, 2036 1-62-B Variable(2) $ 188,995.04 November 25, 2036 1-63-A Variable(2) $ 183,222.66 November 25, 2036 1-63-B Variable(2) $ 183,222.66 November 25, 2036 1-64-A Variable(2) $ 177,625.23 November 25, 2036 1-64-B Variable(2) $ 177,625.23 November 25, 2036 1-65-A Variable(2) $ 172,197.48 November 25, 2036 1-65-B Variable(2) $ 172,197.48 November 25, 2036 1-66-A Variable(2) $ 166,934.29 November 25, 2036 1-66-B Variable(2) $ 166,934.29 November 25, 2036 1-67-A Variable(2) $ 161,830.71 November 25, 2036 1-67-B Variable(2) $ 161,830.71 November 25, 2036 1-68-A Variable(2) $ 156,881.93 November 25, 2036 1-68-B Variable(2) $ 156,881.93 November 25, 2036 1-69-A Variable(2) $ 152,083.28 November 25, 2036 1-69-B Variable(2) $ 152,083.28 November 25, 2036 1-70-A Variable(2) $ 147,430.23 November 25, 2036 1-70-B Variable(2) $ 147,430.23 November 25, 2036 1-71-A Variable(2) $ 142,918.39 November 25, 2036 1-71-B Variable(2) $ 142,918.39 November 25, 2036 1-72-A Variable(2) $ 138,543.52 November 25, 2036 1-72-B Variable(2) $ 138,543.52 November 25, 2036 1-73-A Variable(2) $ 134,301.46 November 25, 2036 1-73-B Variable(2) $ 134,301.46 November 25, 2036 1-74-A Variable(2) $ 130,188.23 November 25, 2036 1-74-B Variable(2) $ 130,188.23 November 25, 2036 1-75-A Variable(2) $ 126,199.93 November 25, 2036 1-75-B Variable(2) $ 126,199.93 November 25, 2036 1-76-A Variable(2) $ 122,332.79 November 25, 2036 1-76-B Variable(2) $ 122,332.79 November 25, 2036 1-77-A Variable(2) $ 118,583.16 November 25, 2036 1-77-B Variable(2) $ 118,583.16 November 25, 2036 1-78-A Variable(2) $ 114,947.49 November 25, 2036 1-78-B Variable(2) $ 114,947.49 November 25, 2036 1-79-A Variable(2) $ 1,417,073.07 November 25, 2036 1-79-B Variable(2) $ 1,417,073.07 November 25, 2036 1-80-A Variable(2) $ 1,590,733.44 November 25, 2036 1-80-B Variable(2) $ 1,590,733.44 November 25, 2036 1-81-A Variable(2) $ 583,900.97 November 25, 2036 1-81-B Variable(2) $ 583,900.97 November 25, 2036 OC Variable(2) $ 19,946,570.47 November 25, 2036 P Variable(2) $ 100.00 November 25, 2036 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Class A Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR LR, Class A-PO, Class 15-IO, Class 30-IO and Class PO SES Certificates), ) and the Class 30-B, Class X-B Certificates and the Class 415-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-A-PO Component, Class 2-A-PO Component, Class 3-A-PO Component, Class 4-A-PO Component, Class 1-30-IO Component, Class 2-30-IO Component, 3-15-IO Component, 4-15-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, Component and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):): =================== ==================== ============== ================ ================= Initial Class Integral Certificate Multiples Balance or Pass-Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-1 $18,955,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-2 $2,500,000.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-3 $19,702,554.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-4 $4,909,946.00 6.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-5 $16,178,727.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-6 $227,273.00 (1) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-7 $205,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-8 $119,777,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-9 $2,237,500.00 (1) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-R $50.00 5.500% $50 N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-LR $50.00 5.500% $50 N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-1 $79,880,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-2 $13,242,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-3 $7,487,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-4 $3,531,000.00 5.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-1 $121,320,000.00 4.500% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-2 $50,008,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-3 $120,000,000.00 5.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-4 $1,320,000.00 5.000% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-5 $39,262,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-6 $10,745,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 4-A-1 $147,067,000.00 4.750% $1,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class A-PO (2) (2) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-IO (3) (3) $10,000,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-IO (4) (4) $10,000,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-1 $2,395,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-2 $958,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-3 $479,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-4 $383,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-5 $383,000.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 30-B-6 $192,553.00 5.500% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-1 $2,834,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-2 $515,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-3 $387,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-4 $257,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-5 $258,000.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class X-B-6 $129,255.00 (5) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-1 $1,573,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-2 $699,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-3 $525,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-4 $349,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-5 $350,000.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class 15-B-6 $349,936.00 4.750% $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- Class SES (6) (6) $25,000 $1 ------------------- -------------------- -------------- ---------------- ----------------- =================== ==================== ============== ================ ================= Integral Initial Component Multiples Balance or Pass-Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ------------------- -------------------- -------------- ---------------- ----------------- Class 1-30-IO $31,575,390.80 (7) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-30-IO $19,078,586.36 (8) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-15-IO $128,039,756.17 (9) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-15-IO $60,485,320.24 (10) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-SES $191,598,060.16 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-SES $106,989,476.01 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-SES $349,601,000.80 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-SES $150,606,900.15 0.200% N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 1-A-PO $2,114,407.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 2-A-PO $1,030,434.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 3-A-PO $3,100,064.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- ----------------- Class 4-A-PO $978,687.00 (11) N/A N/A ------------------- -------------------- -------------- ---------------- -----------------

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2004-10 Mortgage Loan Pass-Through Certificates, Series 2004-10 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1 Certificates, (ii) the Class 1-A-2A Certificates, (iii) the Class 1-A-2B Certificates, (iv) the Class 2-A Certificates, (v) the Class 3-A-1A Certificates, (vi) the Class 3 A 1B Certificates, (vii) the Class 4-A Certificates, (viii) the Class X-1 Certificates, (ix) the Class X-2 Certificates, (x) the Class X-3 Certificates, (xi) the Class A-R Certificates, (xii) the Class B-1 Certificates, (xiii) the Class B-2 Certificates, (xiv) the Class B-3 Certificates, (xv) the Class B-4 Certificates, (xvi) the Class B-5 Certificates, (xvii) the Class B-6 Certificates, (xviii) the Class P Certificate and (xix) the Class Y Certificate. As provided herein, the Trustee shall elect that the Trust Fund be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class P, Class Y and Class A-R Certificates, shall represent ownership of all interests a regular interest in the Upper-Tier REMIC, as described herein. Each of the Class P and Class Y Certificates represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereby will be the REMIC Certificate Maturity Datehereunder. The following table sets forth characteristics Class A-R Certificate represents the sole class of residual interest in each REMIC. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the Certificates and excess, if any, of amounts paid with respect to the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount Yield Maintenance Agreement in excess of the minimum denomination):Yield Maintenance Distributable Amount for the Yield Maintenance Agreement. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund and the interests in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower Tier REMIC Class Designation Interest Rate Initial Class Principal Balance Related Loan Group Class LT-Group 1 (1) $ 158,612,755.32 Group1 Class LT-Group 2 (2) $ 115,245,188.61 Group 2 Class LT-SC2 (2) $ 89,961.50 Group 2 Class LT-Group 3 (3) $ 279,719,560.29 Group 3 Class LT-SC3 (3) $ 218,359.19 Group 3 Class LT-Group 4 (4) $ 174,016,743.64 Group 4 Class LT-SC4 (4) $ 135,844.89 Group 4 Class LT-R (5) (5) N/A _________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate The Company intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple Classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-three Classes of Certificates, designated as the Class 1-A-1, Class 1-A-X, Class 2-A, Class 3-A-1, Class 3-A-X, Class 4-A, Class 5-A-1, Class 5-A-2, Class 5-A-3, Class 5-A-4, Class 5-A-5, Class 5-A-6, Class 5-A-7, Class 5-A-X, Class R-I, Class R-II, Class R-III, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement as a REMIC for federal income tax purposes purposes, and such segregated pool of all interests created hereby assets will be designated as “REMIC 1.” The Class R-I Certificates will be the sole Class of “residual interests” in REMIC Certificate Maturity Date1 for purposes of the REMIC Provisions (as defined herein). None of the REMIC 1 Regular Interests will be certificated. The following table irrevocably sets forth characteristics the designation, Uncertificated REMIC 1 Pass-Through Rate and initial Uncertificate Principal Balance for each of the Certificates and the Components, together with the minimum denominations and integral multiples “regular interests” in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 created hereunder:

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of eighteen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates, (xvii) the Class R Certificates and (xviii) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Swap Account, the Serivicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 17,496,713.97 June 25, 2036 I-1-B Variable (2) $ 5,753,132.50 June 25, 2036 I-2-B Variable (2) $ 7,256,463.75 June 25, 2036 I-4-B Variable (2) $ 10,627,846.25 June 25, 2036 I-5-B Variable (2) $ 11,524,808.75 June 25, 2036 I-6-B Variable (2) $ 12,391,703.75 June 25, 2036 I-8-B Variable (2) $ 13,966,521.25 June 25, 2036 I-10-B Variable (2) $ 14,107,172.50 June 25, 2036 I-11-A Variable (2) $ 13,588,531.25 June 25, 2036 I-11-B Variable (2) $ 13,588,531.25 June 25, 2036 I-13-B Variable (2) $ 12,853,521.25 June 25, 2036 I-14-A Variable (2) $ 12,713,747.50 June 25, 2036 I-14-B Variable (2) $ 12,713,747.50 June 25, 2036 I-16-B Variable (2) $ 13,561,303.75 June 25, 2036 I-18-B Variable (2) $ 11,908,905.00 June 25, 2036 I-20-B Variable (2) $ 11,540,486.25 June 25, 2036 I-21-B Variable (2) $ 19,189,106.25 June 25, 2036 I-23-B Variable (2) $ 16,867,867.50 June 25, 2036 I-25-B Variable (2) $ 8,340,720.00 June 25, 2036 I-26-B Variable (2) $ 6,974,502.50 June 25, 2036 I-27-A Variable (2) $ 6,670,391.25 June 25, 2036 I-27-B Variable (2) $ 6,670,391.25 June 25, 2036 I-28-A Variable (2) $ 6,384,757.50 June 25, 2036 I-28-B Variable (2) $ 6,384,757.50 June 25, 2036 I-29-B Variable (2) $ 6,112,287.50 June 25, 2036 I-30-B Variable (2) $ 5,852,255.00 June 25, 2036 I-32-B Variable (2) $ 5,366,286.25 June 25, 2036 I-34-B Variable (2) $ 4,922,025.00 June 25, 2036 I-35-B Variable (2) $ 4,714,528.75 June 25, 2036 I-37-B Variable (2) $ 4,327,101.25 June 25, 2036 I-38-A Variable (2) $ 4,146,092.50 June 25, 2036 I-38-B Variable (2) $ 4,146,092.50 June 25, 2036 I-39-B Variable (2) $ 3,973,048.75 June 25, 2036 I-40-B Variable (2) $ 3,807,596.25 June 25, 2036 I-41-A Variable (2) $ 3,649,391.25 June 25, 2036 I-41-B Variable (2) $ 3,649,391.25 June 25, 2036 I-42-A Variable (2) $ 3,498,125.00 June 25, 2036 I-42-B Variable (2) $ 3,498,125.00 June 25, 2036 I-43-B Variable (2) $ 3,353,476.25 June 25, 2036 I-44-B Variable (2) $ 3,215,138.75 June 25, 2036 I-45-A Variable (2) $ 3,082,832.50 June 25, 2036 I-45-B Variable (2) $ 3,082,832.50 June 25, 2036 I-47-B Variable (2) $ 2,835,231.25 June 25, 2036 I-48-A Variable (2) $ 2,719,432.50 June 25, 2036 I-48-B Variable (2) $ 2,719,432.50 June 25, 2036 I-49-B Variable (2) $ 2,608,693.75 June 25, 2036 I-50-A Variable (2) $ 2,502,832.50 June 25, 2036 I-50-B Variable (2) $ 2,502,832.50 June 25, 2036 I-51-B Variable (2) $ 2,401,787.50 June 25, 2036 I-52-A Variable (2) $ 2,305,307.50 June 25, 2036 I-52-B Variable (2) $ 2,305,307.50 June 25, 2036 I-53-B Variable (2) $ 2,212,431.25 June 25, 2036 I-54-A Variable (2) $ 2,123,461.25 June 25, 2036 I-54-B Variable (2) $ 2,123,461.25 June 25, 2036 I-55-B Variable (2) $ 2,038,327.50 June 25, 2036 I-56-B Variable (2) $ 1,957,076.25 June 25, 2036 I-57-A Variable (2) $ 51,590,613.75 June 25, 2036 I-57-B Variable (2) $ 51,590,613.75 June 25, 2036 ________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A1-A Certificates, (ii) the Class 1-A1-B Certificates, (iii) the Class 1-A1-C Certificates, (iv) the Class 1-AM Certificates, (v) the Class 2-A Certificates, (vi) the Class 1-M-1 Certificates, (vii) the Class 1-M-2 Certificates, (viii) the Class 1-M-3 Certificates, (ix) the Class 1-M-4 Certificates, (x) the Class 1-M-5 Certificates, (xi) the Class 1-M-6 Certificates, (xii) the Class 1-M-7 Certificates, (xiii) the Class 1-M-8 Certificates, (xiv) the Class 1-B Certificates, (xv) the Class 1-C Certificates, (xvi) the Class 2-C Certificates, (xvii) the Class 1-P Certificates, (xviii) the Class 2-P Certificates, and (xix) the Class R Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of Loan Group 1 and certain other related assets (other than the Group 1 Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the Group 1 Supplemental Interest Trust, the Group 1 Derivative Account, the Group 1 Interest Rate Swap Agreement and the Group 1 Cap Contracts) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable Date (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) 1-1-A Variable(2) $ 2,082,479.45 February 2037 1-1-B Variable(2) $ 2,082,479.45 February 2037 1-2-A Variable(2) $ 3,149,113.15 February 2037 1-2-B Variable(2) $ 3,149,113.15 February 2037 1-3-A Variable(2) $ 4,223,864.23 February 2037 1-3-B Variable(2) $ 4,223,864.23 February 2037 1-4-A Variable(2) $ 5,300,288.69 February 2037 1-4-B Variable(2) $ 5,300,288.69 February 2037 1-5-A Variable(2) $ 6,371,739.35 February 2037 1-5-B Variable(2) $ 6,371,739.35 February 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-6-A Variable(2) $ 7,431,484.42 February 2037 1-6-B Variable(2) $ 7,431,484.42 February 2037 1-7-A Variable(2) $ 8,472,191.08 February 2037 1-7-B Variable(2) $ 8,472,191.08 February 2037 1-8-A Variable(2) $ 9,486,612.86 February 2037 1-8-B Variable(2) $ 9,486,612.86 February 2037 1-9-A Variable(2) $ 10,468,074.44 February 2037 1-9-B Variable(2) $ 10,468,074.44 February 2037 1-10-A Variable(2) $ 11,408,929.13 February 2037 1-10-B Variable(2) $ 11,408,929.13 February 2037 1-11-A Variable(2) $ 12,302,217.99 February 2037 1-11-B Variable(2) $ 12,302,217.99 February 2037 1-12-A Variable(2) $ 12,580,468.56 February 2037 1-12-B Variable(2) $ 12,580,468.56 February 2037 1-13-A Variable(2) $ 12,200,224.90 February 2037 1-13-B Variable(2) $ 12,200,224.90 February 2037 1-14-A Variable(2) $ 11,831,589.24 February 2037 1-14-B Variable(2) $ 11,831,589.24 February 2037 1-15-A Variable(2) $ 11,474,117.67 February 2037 1-15-B Variable(2) $ 11,474,117.67 February 2037 1-16-A Variable(2) $ 11,127,289.52 February 2037 1-16-B Variable(2) $ 11,127,289.52 February 2037 1-17-A Variable(2) $ 10,790,883.78 February 2037 1-17-B Variable(2) $ 10,790,883.78 February 2037 1-18-A Variable(2) $ 10,464,394.17 February 2037 1-18-B Variable(2) $ 10,464,394.17 February 2037 1-19-A Variable(2) $ 10,148,019.07 February 2037 1-19-B Variable(2) $ 10,148,019.07 February 2037 1-20-A Variable(2) $ 9,841,317.56 February 2037 1-20-B Variable(2) $ 9,841,317.56 February 2037 1-21-A Variable(2) $ 9,543,336.88 February 2037 1-21-B Variable(2) $ 9,543,336.88 February 2037 1-22-A Variable(2) $ 9,254,469.47 February 2037 1-22-B Variable(2) $ 9,254,469.47 February 2037 1-23-A Variable(2) $ 14,644,161.40 February 2037 1-23-B Variable(2) $ 14,644,161.40 February 2037 1-24-A Variable(2) $ 19,869,300.43 February 2037 1-24-B Variable(2) $ 19,869,300.43 February 2037 1-25-A Variable(2) $ 7,925,826.45 February 2037 1-25-B Variable(2) $ 7,925,826.45 February 2037 1-26-A Variable(2) $ 7,685,708.54 February 2037 1-26-B Variable(2) $ 7,685,708.54 February 2037 1-27-A Variable(2) $ 7,453,065.89 February 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-27-B Variable(2) $ 7,453,065.89 February 2037 1-28-A Variable(2) $ 7,348,094.00 February 2037 1-28-B Variable(2) $ 7,348,094.00 February 2037 1-29-A Variable(2) $ 9,797,485.19 February 2037 1-29-B Variable(2) $ 9,797,485.19 February 2037 1-30-A Variable(2) $ 9,283,442.21 February 2037 1-30-B Variable(2) $ 9,283,442.21 February 2037 1-31-A Variable(2) $ 8,814,140.86 February 2037 1-31-B Variable(2) $ 8,814,140.86 February 2037 1-32-A Variable(2) $ 8,404,996.08 February 2037 1-32-B Variable(2) $ 8,404,996.08 February 2037 1-33-A Variable(2) $ 8,033,554.75 February 2037 1-33-B Variable(2) $ 8,033,554.75 February 2037 1-34-A Variable(2) $ 7,692,243.83 February 2037 1-34-B Variable(2) $ 7,692,243.83 February 2037 1-35-A Variable(2) $ 7,585,654.37 February 2037 1-35-B Variable(2) $ 7,585,654.37 February 2037 1-36-A Variable(2) $ 87,320,147.27 February 2037 1-36-B Variable(2) $ 87,320,147.27 February 2037 1-37-A Variable(2) $ 2,522,861.13 February 2037 1-37-B Variable(2) $ 2,522,861.13 February 2037 1-38-A Variable(2) $ 2,446,455.48 February 2037 1-38-B Variable(2) $ 2,446,455.48 February 2037 1-39-A Variable(2) $ 2,372,025.07 February 2037 1-39-B Variable(2) $ 2,372,025.07 February 2037 1-40-A Variable(2) $ 2,300,189.20 February 2037 1-40-B Variable(2) $ 2,300,189.20 February 2037 1-41-A Variable(2) $ 2,230,114.71 February 2037 1-41-B Variable(2) $ 2,230,114.71 February 2037 1-42-A Variable(2) $ 2,162,421.06 February 2037 1-42-B Variable(2) $ 2,162,421.06 February 2037 1-43-A Variable(2) $ 2,096,897.81 February 2037 1-43-B Variable(2) $ 2,096,897.81 February 2037 1-44-A Variable(2) $ 2,032,919.59 February 2037 1-44-B Variable(2) $ 2,032,919.59 February 2037 1-45-A Variable(2) $ 1,971,313.61 February 2037 1-45-B Variable(2) $ 1,971,313.61 February 2037 1-46-A Variable(2) $ 1,911,247.20 February 2037 1-46-B Variable(2) $ 1,911,247.20 February 2037 1-47-A Variable(2) $ 1,853,340.22 February 2037 1-47-B Variable(2) $ 1,853,340.22 February 2037 1-48-A Variable(2) $ 1,796,760.15 February 2037 1-48-B Variable(2) $ 1,796,760.15 February 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-49-A Variable(2) $ 1,742,127.02 February 2037 1-49-B Variable(2) $ 1,742,127.02 February 2037 1-50-A Variable(2) $ 1,689,230.96 February 2037 1-50-B Variable(2) $ 1,689,230.96 February 2037 1-51-A Variable(2) $ 1,637,654.63 February 2037 1-51-B Variable(2) $ 1,637,654.63 February 2037 1-52-A Variable(2) $ 1,587,810.80 February 2037 1-52-B Variable(2) $ 1,587,810.80 February 2037 1-53-A Variable(2) $ 1,539,489.80 February 2037 1-53-B Variable(2) $ 1,539,489.80 February 2037 1-54-A Variable(2) $ 1,492,689.49 February 2037 1-54-B Variable(2) $ 1,492,689.49 February 2037 1-55-A Variable(2) $ 1,447,200.34 February 2037 1-55-B Variable(2) $ 1,447,200.34 February 2037 1-56-A Variable(2) $ 1,403,020.35 February 2037 1-56-B Variable(2) $ 1,403,020.35 February 2037 1-57-A Variable(2) $ 1,360,355.11 February 2037 1-57-B Variable(2) $ 1,360,355.11 February 2037 1-58-A Variable(2) $ 1,318,787.72 February 2037 1-58-B Variable(2) $ 1,318,787.72 February 2037 1-59-A Variable(2) $ 39,651,498.88 February 2037 1-59-B Variable(2) $ 39,651,498.88 February 2037 1-60-A Variable(2) $ 57,849.32 February 2037 1-60-B Variable(2) $ 57,849.32 February 2037 1-61-A Variable(2) $ 56,084.85 February 2037 1-61-B Variable(2) $ 56,084.85 February 2037 1-62-A Variable(2) $ 54,373.79 February 2037 1-62-B Variable(2) $ 54,373.79 February 2037 1-63-A Variable(2) $ 52,714.56 February 2037 1-63-B Variable(2) $ 52,714.56 February 2037 1-64-A Variable(2) $ 51,105.56 February 2037 1-64-B Variable(2) $ 51,105.56 February 2037 1-65-A Variable(2) $ 49,545.32 February 2037 1-65-B Variable(2) $ 49,545.32 February 2037 1-66-A Variable(2) $ 48,032.33 February 2037 1-66-B Variable(2) $ 48,032.33 February 2037 1-67-A Variable(2) $ 46,565.20 February 2037 1-67-B Variable(2) $ 46,565.20 February 2037 1-68-A Variable(2) $ 45,142.55 February 2037 1-68-B Variable(2) $ 45,142.55 February 2037 1-69-A Variable(2) $ 43,763.01 February 2037 1-69-B Variable(2) $ 43,763.01 February 2037 1-70-A Variable(2) $ 42,425.31 February 2037 Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-70-B Variable(2) $ 42,425.31 February 2037 1-71-A Variable(2) $ 41,128.17 February 2037 1-71-B Variable(2) $ 41,128.17 February 2037 1-72-A Variable(2) $ 39,870.38 February 2037 1-72-B Variable(2) $ 39,870.38 February 2037 1-73-A Variable(2) $ 38,650.75 February 2037 1-73-B Variable(2) $ 38,650.75 February 2037 1-74-A Variable(2) $ 37,468.13 February 2037 1-74-B Variable(2) $ 37,468.13 February 2037 1-75-A Variable(2) $ 36,321.40 February 2037 1-75-B Variable(2) $ 36,321.40 February 2037 1-76-A Variable(2) $ 35,209.48 February 2037 1-76-B Variable(2) $ 35,209.48 February 2037 1-77-A Variable(2) $ 34,131.32 February 2037 1-77-B Variable(2) $ 34,131.32 February 2037 1-78-A Variable(2) $ 33,085.91 February 2037 1-78-B Variable(2) $ 33,085.91 February 2037 1-79-A Variable(2) $ 32,072.25 February 2037 1-79-B Variable(2) $ 32,072.25 February 2037 1-80-A Variable(2) $ 31,089.39 February 2037 1-80-B Variable(2) $ 31,089.39 February 2037 1-81-A Variable(2) $ 30,136.39 February 2037 1-81-B Variable(2) $ 30,136.39 February 2037 1-82-A Variable(2) $ 29,212.36 February 2037 1-82-B Variable(2) $ 29,212.36 February 2037 1-83-A Variable(2) $ 463,533.33 February 2037 1-83-B Variable(2) $ 463,533.33 February 2037 1-84-A Variable(2) $ 449,154.60 February 2037 1-84-B Variable(2) $ 449,154.60 February 2037 P Variable(2) $ 100.00 February 2037 OC Variable(2) $ 321,489,158.20 February 2037 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of nineteen classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class M-1 Certificates, (v) the Class M-2 Certificates, (vi) the Class M-3 Certificates, (vii) the Class M-4 Certificates, (viii) the Class M-5 Certificates, (ix) the Class M-6 Certificates, (x) the Class M-7 Certificates, (xi) the Class M-8 Certificates, (xii) the Class M-9 Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class P Certificates, (xvi) the Class X-1 Certificates, (xvii) the Class X-2 Certificates, (xviii) the Class X-S Certificates and (xix) the Class A-R Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, Basis Risk Reserve Fund, Swap Account, the Capitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the Certificates and “regular interests” in REMIC 1 (the Components, together with “REMIC 1 Regular Interests”). None of the minimum denominations and integral multiples in excess thereof in which the Classes REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of Certificates shall be issuable (except that one Certificate satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 Regular Interests will be the Latest Possible Maturity Date as defined herein. LTI-1 Variable(1) $ 471,360,959.55 LTI-PF Variable(1) $ 53,889,040.00 LTI-AR Variable(1) $ 100.00 LTI-P Variable(1) $ 100.00 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple Classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two Classes of Certificates, designated as (i) the Class AF-1A, Class AF-1B, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class B-1 and Class B-2 Certificates, (iv) the Class P Certificates, (v) the Class CE-1 and Class CE-2 Certificates, (vi) the Class R Certificates and (vii) the Class R-X Certificates. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders its interests and rights in the Mortgage Loans. As provided herein, for federal income tax purposes, the Trustee will elect to treat the segregated pools of assets subject to this Agreement (exclusive of the Basis Risk Reserve Fund, the Supplemental Interest Trust and the Swap Account) as ten real estate mortgage investment conduits (each, a “REMIC”): Subsidiary REMIC 1, Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class ▇▇ ▇▇▇▇▇, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” in Subsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in Subsidiary REMIC 1. Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class CE-1, Class CE-2, Class P, Class M-7, Class M-8 and Class B Certificates), the Class CEM Interest, the Class PM Interest, the Class M-7M Interest, the Class M-8M Interest and the two Class BM Interests, which will represent the “regular interests” in the Master REMIC and (ii) the Class MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class ▇▇ ▇▇▇▇▇. The assets of the Class ▇▇ ▇▇▇▇▇ will consist of the Class CEM Interest in the Master REMIC and interests in the Class ▇▇ ▇▇▇▇▇ will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class ▇▇ ▇▇▇▇▇ and (ii) the Class CER-X Interest, which will represent the single class of “residual interest” in the Class ▇▇ ▇▇▇▇▇. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold the Class M-7M Interest in the Master REMIC for the benefit of the Class M-7 REMIC. The assets of the Class M-7 REMIC will consist of the Class M-7M Interest in the Master REMIC and interests in the Class M-7 REMIC will be evidenced by (i) the Class M-7 Certificate, which will represent the “regular interest” in the Class M-7 REMIC and (ii) the uncertificated Class M-7R Interest, which will represent the single class of “residual interest” in the Class M-7 REMIC. The Trustee will hold the Class M-8M Interest in the Master REMIC for the benefit of the Class M-8 REMIC. The assets of the Class M-8 REMIC will consist of the Class M-8M Interest in the Master REMIC and interests in the Class M-8 REMIC will be evidenced by (i) the Class M-8 Certificate, which will represent the “regular interest” in the Class M-8 REMIC and (ii) the uncertificated Class M-8R Interest, which will represent the single class of “residual interest” in the Class M-8 REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class IR, and Class MR Interests, and the Class R-X Certificates will represent ownership of the residual interest in each of the Subsidiary REMIC 2, Class ▇▇ ▇▇▇▇▇, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. The “latest possible maturity date" ” for federal income tax purposes of all REMICs, and regular and residual interests created hereby will be hereunder is the REMIC Certificate Maturity Date. The 36th month following table sets forth characteristics the month of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess scheduled maturity of the minimum denomination):Mortgage Loan held in the Trust Fund as of the Closing Date having the latest maturity date.

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2007-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of sixteen classes of certificates, designated as (i) the Class A-1A Certificates, (ii) the Class A-1B Certificates, (iii) the Class A-1C Certificates, (iv) the Class B-1 Certificates, (v) the Class B-2 Certificates, (vi) Class B-3 Certificates, (vii) the Class B-4 Certificates, (viii) the Class B-5 Certificates, (ix) the Class B-6 Certificates, (x) the Class B-7 Certificates, (xi) the Class B-8 Certificates, (xii) the Class C Certificates, (xiii) the Class P Certificates and (xiv) the Class R Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Prefunding Account, the Basis Risk Reserve Fund, the Basis Risk Cap Agreement, the Basis Risk Cap Replacement Receipts Account, the Basis Risk Cap Account, the Basis Risk Cap Amount, the Swap Agreement, the Swap Account, the Swap Amount, the Swap Replacement Receipts Account, the Swap Termination Receipts Account, the Supplemental Interest Trust, and the Collateral Account (the "Upper-Tier REMIC" and “Excluded Trust Property”)) comprises four REMICs in a tiered REMIC structure: the "“Lower-Tier REMIC," respectively” the “Middle-Tier REMIC 1,” the “Middle-Tier REMIC 2,” and the “Upper-Tier REMIC.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IOR Certificates, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, as provide in section 5.01(g), (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07, (iii) payments in respect of Basis Risk Shortfalls from the Basis Risk Cap Amount as provided in Section 5.01(j), (iii) payments in respect of Basis Risk Shortfalls from the Supplemental Interest Trust as provided in Section 5.01(k), and (iv) the obligation to pay Class I Shortfalls. The owners of the Class C Certificates beneficially own the Basis Risk Reserve Fund, the Basis Risk Cap Account, the Supplemental Interest Trust, the Swap Account, the Final Maturity Reserve Account, and the Final Maturity Reserve Trust. The Class 1R Certificates represent the only classes of residual interests in each REMIC created hereby. The Upper Tier REMIC shall hold as its assets the uncertificated interests in the Middle-PO ComponentTier REMIC 2 other than the Class MT2-R interest (each, Class 1a “Middle-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO ComponentTier REMIC 2 Regular Interest”), and each such Middle-Tier REMIC 2 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 2 for purposes of the REMIC Provisions. Middle-Tier REMIC 2 shall hold as its assets the uncertificated interests in Middle-Tier REMIC 1 other than the Class 4MT1-SES Component R interest (collectivelyeach a “Middle-Tier REMIC 1 Regular Interest”), and each such Middle-Tier REMIC 1 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 1. Middle-Tier REMIC 1 shall hold as its assets the "Components") shall also constitute "regular interests" uncertificated interests in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute REMIC other than the "Class LT-R interest (each a “Lower-Tier REMIC Regular Interest”), and each such Lower-Tier REMIC Regular Interest is hereby designated as a regular interests" interest in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the UpperLower-Tier REMIC shall hold as its assets the property of the Trust Fund other than the Excluded Trust Property and the Class 1-A-LR Certificate shall be the "residual interest" interests in the Lower-Tier REMICany other REMIC created hereby. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics (or describes) the designation, interest rate, and initial principal balance of the Certificates each Lower-Tier REMIC Regular Interests and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable LT-R Interest: LT-Initial (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $1,060,953,758.42 LT-Subsequent (2) $ 53,979,820.00 LT-C (3) (3) LT-R (5) (5)

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class A-4 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class M-9 Certificates, (xiv) the Class M-10 Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates, (xvii) the Class R Certificates and (xviii) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Basis Risk Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 128,208,389.97 October 2036 I-1-B Variable (2) $ 19,951,661.31 October 2036 I-3-B Variable (2) $ 24,325,920.95 October 2036 I-4-B Variable (2) $ 26,261,445.43 October 2036 I-5-B Variable (2) $ 28,021,892.55 October 2036 I-8-B Variable (2) $ 24,824,168.13 October 2036 I-9-B Variable (2) $ 23,825,036.63 October 2036 I-10-B Variable (2) $ 22,866,616.78 October 2036 I-11-B Variable (2) $ 21,947,233.15 October 2036 I-12-B Variable (2) $ 21,065,279.75 October 2036 I-13-B Variable (2) $ 20,221,276.55 October 2036 I-14-B Variable (2) $ 19,409,275.96 October 2036 I-15-B Variable (2) $ 18,630,325.60 October 2036 I-16-B Variable (2) $ 17,883,063.14 October 2036 I-17-B Variable (2) $ 282,407,903.40 October 2036 I-18-A Variable (2) $ 9,581,404.50 October 2036 I-18-B Variable (2) $ 9,581,404.50 October 2036 I-19-B Variable (2) $ 6,969,477.48 October 2036 I-20-B Variable (2) $ 6,427,898.80 October 2036 I-21-A Variable (2) $ 4,598,823.68 October 2036 I-21-B Variable (2) $ 4,598,823.68 October 2036 I-23-B Variable (2) $ 4,134,380.65 October 2036 I-24-B Variable (2) $ 3,986,973.64 October 2036 I-25-B Variable (2) $ 3,853,558.66 October 2036 I-26-B Variable (2) $ 3,708,176.85 October 2036 I-27-A Variable (2) $ 3,576,809.30 October 2036 I-27-B Variable (2) $ 3,576,809.30 October 2036 I-28-A Variable (2) $ 3,450,356.95 October 2036 I-28-B Variable (2) $ 3,450,356.95 October 2036 I-29-A Variable (2) $ 12,777,877.05 October 2036 I-29-B Variable (2) $ 12,777,877.05 October 2036 I-30-B Variable (2) $ 3,275,574.07 October 2036 I-33-B Variable (2) $ 2,437,648.55 October 2036 I-34-A Variable (2) $ 2,360,268.74 October 2036 I-34-B Variable (2) $ 2,360,268.74 October 2036 I-35-A Variable (2) $ 2,285,369.37 October 2036 I-35-B Variable (2) $ 2,285,369.37 October 2036 I-36-A Variable (2) $ 2,212,869.41 October 2036 I-36-B Variable (2) $ 2,212,869.41 October 2036 I-37-B Variable (2) $ 2,142,690.54 October 2036 I-38-A Variable (2) $ 2,074,757.10 October 2036 I-38-B Variable (2) $ 2,074,757.10 October 2036 I-39-A Variable (2) $ 2,008,995.96 October 2036 I-39-B Variable (2) $ 2,008,995.96 October 2036 I-40-A Variable (2) $ 1,945,336.43 October 2036 I-40-B Variable (2) $ 1,945,336.43 October 2036 I-41-A Variable (2) $ 1,883,710.22 October 2036 I-41-B Variable (2) $ 1,883,710.22 October 2036 I-42-A Variable (2) $ 1,824,051.29 October 2036 I-42-B Variable (2) $ 1,824,051.29 October 2036 I-43-A Variable (2) $ 1,766,295.82 October 2036 I-43-B Variable (2) $ 1,766,295.82 October 2036 I-44-A Variable (2) $ 1,710,382.12 October 2036 I-44-B Variable (2) $ 1,710,382.12 October 2036 I-45-A Variable (2) $ 1,656,250.55 October 2036 I-45-B Variable (2) $ 1,656,250.55 October 2036 I-47-A Variable (2) $ 1,553,105.09 October 2036 I-47-B Variable (2) $ 1,553,105.09 October 2036 I-48-A Variable (2) $ 1,503,981.56 October 2036 I-48-B Variable (2) $ 1,503,981.56 October 2036 I-49-A Variable (2) $ 1,456,420.76 October 2036 I-49-B Variable (2) $ 1,456,420.76 October 2036 I-50-A Variable (2) $ 1,410,372.29 October 2036 I-50-B Variable (2) $ 1,410,372.29 October 2036 I-51-A Variable (2) $ 1,365,787.44 October 2036 I-51-B Variable (2) $ 1,365,787.44 October 2036 I-52-A Variable (2) $ 1,322,619.08 October 2036 I-52-B Variable (2) $ 1,322,619.08 October 2036 I-53-B Variable (2) $ 1,633,122.41 October 2036 I-54-B Variable (2) $ 1,344,594.11 October 2036 I-55-A Variable (2) $ 37,506,630.05 October 2036 I-55-B Variable (2) $ 37,506,630.05 October 2036 P Variable (2) $ 100.00 October 2036 ________________

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-8 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of fifteen classes of certificates, designated as (i) the Class 1A-1 Certificates, (ii) the Class 2A-1A Certificates, (iii) the Class 2A-1B Certificates, (iv) the Class 2A-1C Certificates, (v) the Class B-1 Certificates, (vi) the Class B-2 Certificates, (vii) Class B-3 Certificates, (viii) the Class B-4 Certificates, (ix) the Class B-5 Certificates, (x) the Class B-6 Certificates, (xi) the Class B-7 Certificates, (xii) the Class B-8 Certificates, (xiii) the Class C Certificates, (xiv) the Class P Certificates and (xv) the Class R Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the "“Excluded Trust Property”)) comprises two REMICs in a tiered REMIC structure—the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CBR Certificate, shall represent ownership of a regular interest in the Upper-IOTier REMIC, as described herein. The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account and (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07. The owners of the Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates)C Certificates beneficially own the Basis Risk Reserve Fund, the Class 30-B Certificates Final Maturity Reserve Account and the Final Maturity Reserve Trust. The Class 4-B Certificates are referred to collectively as R Certificate represents the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1Lower-PO Component, Class 1Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, Tier Regular Interests”) (which will be uncertificated and Class 4-SES Component (collectively, will represent the "Components") shall also constitute "regular interests" interests in the UpperLower-Tier REMIC. The Uncertificated Lower) and a residual interest (the “Class LT-Tier Interests shall constitute R Interest”) which will also be uncertificated and which will represent the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Class 1Trustee will hold the Lower-ATier Regular Interests as assets of the Upper-R Certificate shall be Tier REMIC. For purposes of the "residual interest" in REMIC Provisions, the startup day for the Lower-Tier REMIC and the Upper-Tier REMIC is the Closing Date. All REMIC regular and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of (or describes) the Certificates designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate initial principal balance of each Class Lower-Tier Interest in the Lower-Tier REMIC, each of Certificates may be issued which, other than the LT-R Lower-Tier Interest) is hereby designated as a regular interest in any amount in excess of the minimum denomination):Lower-Tier REMIC (the “Lower-Tier Regular Interests): LT-1A-1 (1) $ 180,269,500.00 1A-1 LT-2A-1A (1) $ 211,386,000.00 2A-1A LT-2A-1B (1) $ 88,077,500.00 2A-1B LT-2A-1C (1) $ 52,846,500.00 2A-1C LT-B-1 (1) $ 14,910,000.00 B-▇ ▇▇-▇-▇ (1) $ 12,822,500.00 B-▇ ▇▇-▇-▇ (1) $ 2,982,000.00 B-▇ ▇▇-▇-▇ (1) $ 9,542,500.00 B-▇ ▇▇-▇-▇ (1) $ 4,175,000.00 B-▇ ▇▇-▇-▇ (1) $ 5,964,000.00 B-▇ ▇▇-▇-▇ (1) $ 3,876,500.00 B-▇ ▇▇-▇-▇ (1) $ 4,771,000.00 B-8 LT-Q (1) $ 601,163,746.61 N/A LT-I (2) (2) N/A LT-R (3) (3) N/A

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two three separate real estate mortgage investment conduits (the "Upper-Tier REMIC," the "Middle-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class 1-CB-1, Class 1-CB-5, Class 1-CB-6, Class CB-IO, Class SESX-IO, Class CB-PO, Class X-PO and Class 1-ACB-R, R Certificates and the right of the Class 1-A-LR and Class PO Certificates), CB-1 Certificates to receive amounts from the Class 30-B Certificates and the Class 4-B Certificates Reserve Fund) are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2CB-PO Component, Class 2-CB-PO Component and Class 3-CB-PO Component (the "Class CB-PO Components"), the Class 4-X-PO Component and Class 5-X-PO Component (the "Class X-PO Components" and, together with the Class CB-PO Components, the "PO Components"), the Class 1-CB-IO Component, Class 2-SES Component, CB-IO Component and Class 3-PO ComponentCB-IO Component (the "Class CB-IO Components"), Class 3-SES Component, the Class 4-PO Component, X-IO Component and Class 45-SES X-IO Component (collectivelythe "Class X-IO Components" and, together with the Class CB-IO Components, the "IO Components" and, collectively with the PO Components, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Class 1-CB-1 Interest, the Class 1-CB-5 Interest and the Class 1-CB-6 Interest (collectively, the "Uncertificated Upper-Tier Interests") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Middle-Tier Interests shall constitute the "regular interests" in the Middle-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1R-A-R Certificate U Interest shall be the sole "residual interest" in the Upper-Tier REMIC and the REMIC. The Class 1R-A-LR Certificate M Interest shall be the sole "residual interest" in the Middle-Tier REMIC. The Class R-L Interest shall be the sole "residual interest" in the Lower-Tier REMICRE▇▇▇. The Class 1-CB-R Certificate shall represent ownership of the Class R-U Interest, the Class R-M Interest and the Class R-L Interest. The portion of the Trust Estate consisting of (i) the Res▇▇▇e Fund and the Yield Maintenance Agreement and the right of the Class 1-CB-1 Certificates to receive amounts from the Reserve Fund and (ii) the Uncertificated Upper-Tier Interests and the rights of the Class 1-CB-1 Certificates, the Class 1-CB-5 Certificates and the Class 1-CB-6 Certificates to receive payments with respect thereto shall not be assets of any REMIC created hereunder, but rather shall be assets of the Grantor Trust. The assets of the Grantor Trust, the Certificates, the Uncertificated Upper-Tier Interests, the Uncertificated Middle-Tier Interests and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets tables set forth characteristics of the Certificates Certificates, the Components and the ComponentsUncertificated Upper-Tier Interests, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):issuable:

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2005-10 Mortgage Loan Pass-Through Certificates, Series 2005-10 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-two classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 2-A1A Certificates, (iv) the Class 2-A1B Certificates, (v) the Class 2-A1C1 Certificates, (vi) the Class 2-A1C2 Certificates, (vii) the Class X Certificates, (viii) the Class PO Certificates, (ix) the Class A-R Certificates, (x) the Class A-R-II Certificates, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class B-7 Certificates, (xviii) the Class B-8 Certificates, (xix) the Class B-9 Certificates, (xx) the Class B-10 Certificates, (xxi) the Class B-11 Certificates and (xxii) the Class B-12 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Basis Risk Reserve Fund, and the Yield Maintenance Account and the Yield Maintenance Agreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R and Class A-R-II Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A1A, Class 1-A1B, Class 2-A1A, Class 2-A1B, Class 2-A1C1 and Class 2-A1C2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund, other than the Excluded Trust Property and the interests created in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable initial principal amount for each Lower-Tier REMIC Interest: LT-Group 1 (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 699,317,501.60 Group 1 LT-Group 1 SCA (1) $ 682,498.50 Group 1 LT-Group 2 (2) $ 1,598,440,000.52 Group 2 LT-Group 2 SCA (2) $ 1,559,999.50 Group 2 LT-R (3) (3) N/A

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of nineteen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class C Certificates, (xvii) the Class P Certificates, (xviii) the Class R Certificates and (xix) the Class R-X Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the Net WAC Rate Carryover Reserve Account, the Master Servicer Prepayment Charge Payment Amounts, the Swap Account and the Interest Rate Swap Agreement) as a real estate investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate(2) Initial Uncertificated Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Date(1)

PRELIMINARY STATEMENT. In exchange The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate Fund for federal income tax purposes will be treated consist of three separate REMICs, each having assets as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMICprovided herein. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the TrustTrust Fund. The "Regular Certificates will represent “regular interests” in the Upper REMIC. The Class II-A-R Certificates will represent the residual interests in the Lower REMIC, Middle REMIC and Upper REMIC, as described in Section 2.7. The “latest possible maturity date" ” for federal income tax purposes of all REMIC regular interests created hereby will be the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsCertificates, together with the minimum denominations and integral multiples in excess thereof in which the such Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): Class I-A-1 $ 25,000 $ 1,000 Class I-A-2 $ 25,000 $ 1,000 Class II-A-1 $ 25,000 $ 1,000 Class II-A-R $ 100 $ N/A Class III-A-1 $ 25,000 $ 1,000 Class IV-A-1 $ 25,000 $ 1,000 Class IV-A-2 $ 25,000 $ 1,000 Class B-1 $ 100,000 $ 1,000 Class B-2 $ 100,000 $ 1,000 Class B-3 $ 100,000 $ 1,000 Class B-4 $ 100,000 $ 1,000 Class B-5 $ 100,000 $ 1,000 Class B-6 $ 100,000 $ 1,000 Accretion Directed Certificates None. Accrual Certificates None. Accrual Components None. Book-Entry Certificates All Classes of Certificates other than the Physical Certificates. Certificate Group With respect to Pool I, the Group I Senior Certificates; with respect to Pool II, the Group II Senior Certificates; with respect to Pool III, the Group III Senior Certificates; and with respect to Pool IV, the Group IV Senior Certificates. COFI Certificates None. Component Certificates None. Components None. Delay Certificates All interest-bearing Classes of Certificates other than the Non-Delay Certificates, if any. ERISA-Restricted Certificates The Residual Certificates, Private Certificates and Certificates of any amount in excess Class that no longer satisfy the applicable rating requirement of the minimum denomination):Underwriters’ Exemption. Floating Rate Certificates None. Group I Senior Certificates The Class I-A-1 and Class I-A-2 Certificates. Group II Senior Certificates The Class II-A-1 and Class II-A-R Certificates. Group III Senior Certificates The Class III-A-1 Certificates. Group IV Senior Certificates The Class IV-A-1 and Class IV-A-2 Certificates. Insured Retail Certificates None. Inverse Floating Rate Certificates None. LIBOR Certificates None. Non-Delay Certificates None. Notional Amount Components None. Notional Amount Certificates None. Offered Certificates All Classes of the Certificates other than the Private Certificates. Physical Certificates The Residual Certificates and the Private Certificates. Planned Principal Classes None. Principal Only Certificates None. Private Certificates The Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies Fitch and ▇▇▇▇▇’▇; except that, for the purposes of the Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, Fitch shall be the sole Rating Agency. The Class B-6 Certificates will not be rated. Regular Certificates All Classes of Certificates, other than the Residual Certificates. Residual Certificates The Class II-A-R Certificates. Scheduled Principal Classes None. Senior Certificates The Group I Senior Certificates, the Group II Senior Certificates, the Group III Senior Certificates and the Group IV Senior Certificates, collectively. Senior Mezzanine Certificates The Class IV-A-2 Certificates. Subordinated Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. Super Senior Certificates The Class IV-A-1 Certificates. Support Classes None. Targeted Principal Classes None. Underwriters ______________ With respect to any of the foregoing designations as to which the corresponding reference is “None,” all defined terms and provisions herein relating solely to such designations shall be of no force or effect, and any calculations herein incorporating references to such designations shall be interpreted without reference to such designations and amounts. Defined terms and provisions herein relating to statistical rating agencies not designated above as Rating Agencies shall be of no force or effect.

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-12 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of eighteen classes of certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class 2A-1A1 Certificates, (iii) the Class 2A-1A2 Certificates, (iv) the Class 2A-1A3 Certificates, (v) the Class 2A-1B Certificates, (vi) the Class 2A-2A Certificates, (vii) the Class 2A-2B Certificates, (viii) the Class 2A-2C Certificates, (ix) the Class B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates, (xv) the Class B-7 Certificates, (xvi) the Class C Certificates, (xvi) the Class P Certificates and (xvii) the Class R Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Prefunding Account, the Capitalized Interest Account, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Class 2-A-1A3 and Class ▇-▇-▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Agreements and Yield Maintenance Accounts, the Final Maturity Reserve Trust, the Final Maturity Reserve Account and the Collateral Account (the "Upper-Tier REMIC" and “Excluded Trust Property”)) comprises three REMICs in a tiered REMIC structure: the "“Lower-Tier REMIC," respectively” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IOR Certificates, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iii) payments in respect of Basis Risk Shortfalls as provided in Section 5.01(h), (i), or (j), as applicable. The owners of the Class C Certificates beneficially own the Basis Risk Reserve Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account and the Yield Maintenance Account. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, R Certificate represents the "Components") shall also constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Uncertificated , as well as the sole residual interest in each of the Lower-Tier Interests REMIC and the Middle-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue three uncertificated interests, two of which shall constitute be the "regular interests" “Lower-Tier Regular Interests” and one residual interest (the “LT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Class 1Middle-ATier REMIC will hold as its assets all of the Lower-R Certificate Tier Regular Interests and shall issue 19 uncertificated interests, 18 of which shall be the "“Middle-Tier Regular Interests” and one residual interest" interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the LowerMiddle-Tier REMIC. The Certificates and the Uncertificated LowerUpper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests will represent and shall issue the entire beneficial ownership interest in the TrustCertificates. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics (or describes) the designation, interest rate, and initial principal balance of the Certificates each Lower-Tier Regular Interest and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable LT-R Interest: LT-Initial (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 3,101,363,102.41 LT-Subsequent (2) $ 1,838,636,897.60 LT-C (3) (3) LT-R (4) (4)

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2005-12 Mortgage Loan Pass-Through Certificates, Series 2005-12 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-two classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 2-A1A1 Certificates, (iv) the Class 2-A1A2 Certificates, (v) the Class 2-A1B Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2A Certificates, (viii) the Class X-2B Certificates, (ix) the Class X-B Certificates, (x) the Class PO-1 Certificates, (xi) the Class PO-2A Certificates, (xii) the Class PO-2B Certificates, (xiii) the Class PO-B Certificates, (xiv) the Class A-R Certificates, (xv) the Class A-R-II Certificates, (xvi) the Class B-1 Certificates, (xvii) the Class B-2 Certificates, (xviii) the Class B-3 Certificates, (xix) the Class B-4 Certificates, (xx) the Class B-5 Certificates, (xxi) the Class B-6 Certificates and (xxii) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreement (collectively, the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R and Class A-R-II Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the MTA and LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 2-A1A2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1, Class X-2A, Class X-2B and Class X-B Certificates beneficially own the Basis Risk Reserve Fund and the owners of the Class X-2B Certificates beneficially own the Yield Maintenance Account. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund, other than the Excluded Trust Property and the interests created in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 509,075,890.62 Group 1 LT-Group 1 SCA (1) $ 547,845.86 Group 1 LT-Group 2 (2) $ 556,820,067.10 Group 2 LT-Group 2 SCA (2) $ 599,232.50 Group 2 LT-R (3) (3) N/A

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2006-2 Mortgage Loan Pass-Through Certificates, Series 2006-2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectivelyissued hereunder in multiple classes, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of thirty-eight classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A1A Certificates, (iii) the Class 2-A1B Certificates, (iv) the Class 3-A1A Certificates, (v) the Class 3-A1B Certificates, (vi) the Class 4-A Certificates, (vii) the Class X Certificates, (viii) the Class A-R Certificates, (ix) the Class B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates and (xv) the Class P Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account and the Yield Maintenance Agreements, and amounts distributable on the Class P Certificates (collectively, the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R and Class P Certificates, shall represent ownership of all interests created hereby will be a regular interest in the REMIC Certificate Maturity DateUpper-Tier REMIC, as described herein. In addition, (i) the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class B-1, Class B-2 and Class B-3 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The following table sets forth characteristics owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Components, together with Yield Maintenance Account. The Class A-R Certificate represents the minimum denominations and integral multiples sole class of residual interest in excess thereof in which the Classes of Certificates each REMIC. The Lower-Tier REMIC shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess hold as assets all property of the minimum denomination):Trust Fund, other than the Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2006-CB1 Mortgage Loan Pass-Through Certificates, Series 2006-CB1 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of sixteen classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 1-A1C, (iv) the Class 2-A1A Certificates, (v) the Class 2-A1B Certificates, (vi) the Class 2-A1C Certificates, (vii) the Class 2-X Certificates, (viii) the Class 2-PO Certificates, (ix) the Class 2-A-R Certificates, (x) the Class 2-B1 Certificates, (xi) the Class 2-B2 Certificates, (xii) the Class 2-B3 Certificates, (xiii) the Class 2-B4 Certificates, (xiv) the Class 2-B5 Certificates, and (xvi) the Class 2-B6 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising four real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” the “Group 2 REMIC,” and the “Group 1 REMIC”). Each Certificate having a “1” in its class designation shall represent ownership of a regular interest in the Group 1 REMIC, as described herein. Each Certificate having a “2” in its class designation, other than the Class 2-A-R Certificates, shall represent ownership of a regular interest in the Group 2 REMIC, as described herein. In addition, the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 of this Agreement. The owners of the Class 2-X Certificates beneficially own the Basis Risk Reserve Fund. The Class 2-A-R Certificate represents ownership of the sole class of residual interest in each of the Lower-Tier REMIC, the Middle-Tier REMIC, the Group 2 REMIC, and the Group 1 REMIC. The Lower-Tier REMIC shall hold as assets all interests created property of the Trust Fund related to Loan Group 2, other than the Excluded Trust Property and the Lower-Tier REMIC Interests and the Middle-Tier REMIC Interests. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Group 2 REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC Certificate Maturity Dateregular interest. The Group 1 REMIC shall hold as assets all of the property of the Trust Fund related to Loan Group 1. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related Subgroup LT-SUB-2A (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 64,846,055.77 Subgroup 2A LT-SC-2A (1) $ 63,282.38 Subgroup 2A LT-SUB-2B (2) $ 59,806,254.47 Subgroup 2B LT-SC-2B (2) $ 58,366.21 Subgroup 2B LT-SUB-2C (3) $ 238,156,270.72 Subgroup ▇▇ ▇▇-▇▇-▇▇ (3) $ 232,437.08 Subgroup 2C LT-R (4) (4) N/A

PRELIMINARY STATEMENT. In exchange The Depositor is the owner of the Trust that is hereby conveyed to the Trustee in return for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate [(exclusive of the Pre-Funding Account)] for federal income tax purposes will be treated as consist of two separate real estate mortgage investment conduits REMICs (the "Upper-Tier Subsidiary REMIC" and the "Lower-Tier REMIC," respectively, and each, a "Master REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The assets of the Trust [(exclusive of the Pre-Funding Account)] will constitute the assets of the Subsidiary REMIC and the Subsidiary REMIC will issue eleven uncertificated regular interests that will be held as the sole assets of the Master REMIC. The Class R-1 and Class R-2 Interests will be the residual interests in each of the Subsidiary REMIC and the Master REMIC, respectively. The Class A, Class M, Class B and Class X Certificates will represent the "latest possible maturity dateregular interests" in the Master REMIC and the Class R Certificates will represent the single "residual interest" in each of the Subsidiary REMIC and the Master REMIC. All interests created hereby will be retired on or before the Latest Possible Maturity Date, which shall be the Distribution Date in [___________]. The Subsidiary REMIC will be evidenced by the Class 1-Accrual Interest (the "REMIC 1 Accrual Class"), and the Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-M-1, Class 1-M-2, Class 1-B-1 Interests (the "REMIC 1 Accretion Directed Classes"), which will be uncertificated and non-transferable and are hereby designated as the "regular interests" in the Subsidiary REMIC. The REMIC 1 Accrual Class and each REMIC 1 Accretion Directed Class are each hereby designated regular interests in the Subsidiary REMIC for federal income tax purposes of all interests created hereby and will be have the REMIC Certificate Maturity Date. The following table sets forth characteristics designations, initial principal balances, pass-through rates, and Corresponding Classes of the Master REMIC Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination"Corresponding Classes"):

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component sell pass‑through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II‑A4 Certificates, (vi) the Class M‑1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M‑4 Certificates, (x) the Class M‑5 Certificates, (xi) the Class M‑6 Certificates, (xii) the Class M‑7 Certificates, (xiii) the Class M‑8 Certificates, (xiv) the Class M‑9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class B Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 91,012,721.51 Variable2 N/A November 2046 I-5-B 724,073.82 Variable2 November 2046 I-12-B 5,720,371.90 Variable2 November 2046 I-14-B 5,616,680.52 Variable2 November 2046 I-15-B 5,455,296.25 Variable2 November 2046 I-18-A 4,674,500.26 Variable2 May 2008 November 2046 I-18-B 4,674,500.26 Variable2 November 2046 I-20-B 5,528,213.69 Variable2 November 2046 I-21-B 5,240,769.64 Variable2 November 2046 I-22-B 47,271,953.89 Variable2 November 2046 I-23-B 6,443,588.38 Variable2 November 2046 I-24-B 6,661,376.34 Variable2 November 2046 I-25-B 5,736,844.07 Variable2 November 2046 I-26-B 4,434,964.01 Variable2 November 2046 I-27-B 3,663,717.77 Variable2 November 2046 I-28-B 3,161,185.92 Variable2 November 2046 I-29-A 2,747,466.50 Variable2 April 2009 November 2046 I-29-B 2,747,466.50 Variable2 November 2046 I-30-B 2,333,351.15 Variable2 November 2046 I-33-B 1,996,035.21 Variable2 November 2046 I-34-B 2,640,303.00 Variable2 November 2046 I-35-A 371,178.94 Variable2 October 2009 November 2046 I-35-B 371,178.94 Variable2 November 2046 I-38-B 1,942,136.87 Variable2 November 2046 I-40-B 1,764,913.09 Variable2 November 2046 I-41-A 1,676,399.20 Variable2 April 2010 November 2046 I-42-A 1,548,675.58 Variable2 May 2010 November 2046 I-42-B 1,548,675.58 Variable2 November 2046 I-44-A 1,248,031.02 Variable2 July 2010 November 2046 I-44-B 1,248,031.02 Variable2 November 2046 I-45-A 1,195,354.70 Variable2 August 2010 November 2046 I-45-B 1,195,354.70 Variable2 November 2046 I-47-B 1,362,344.89 Variable2 November 2046 I-48-B 1,312,950.54 Variable2 November 2046 I-49-B 1,245,215.60 Variable2 November 2046 I-50-B 1,193,674.38 Variable2 November 2046 I-51-A 1,103,113.95 Variable2 February 2011 November 2046 I-51-B 1,103,113.95 Variable2 November 2046 I-52-A 1,020,761.85 Variable2 March 2011 November 2046 I-52-B 1,020,761.85 Variable2 November 2046 I-53-A 966,559.99 Variable2 April 2011 November 2046 I-53-B 966,559.99 Variable2 November 2046 I-54-B 994,234.22 Variable2 November 2046 I-55-B 1,033,070.16 Variable2 November 2046 I-56-A 935,359.69 Variable2 July 2011 November 2046 I-56-B 935,359.69 Variable2 November 2046 I-57-A 858,790.80 Variable2 August 2011 November 2046 I-57-B 858,790.80 Variable2 November 2046 I-58-A 767,515.77 Variable2 September 2011 November 2046 I-58-B 767,515.77 Variable2 November 2046 I-59-B 11,056,071.12 Variable2 November 2046 IIX3 173,903,265.59 Variable2 N/A November 2046 II-1-B 3,452,994.13 Variable2 November 2046 II-2-B 4,074,496.02 Variable2 November 2046 II-3-B 4,692,764.58 Variable2 November 2046 II-4-B 5,302,799.66 Variable2 November 2046 II-6-B 2,121,653.29 Variable2 November 2046 II-8-B 3,952,346.36 Variable2 November 2046 II-9-B 5,001,236.51 Variable2 November 2046 II-10-B 6,388,425.55 Variable2 November 2046 II-11-A 10,286,135.84 Variable2 October 2007 November 2046 II-11-B 10,286,135.84 Variable2 November 2046 II-12-A 10,930,245.10 Variable2 November 2007 November 2046 II-12-B 10,930,245.10 Variable2 November 2046 II-13-A 11,030,022.73 Variable2 December 2007 November 2046 II-13-B 11,030,022.73 Variable2 November 2046 II-14-B 10,732,115.98 Variable2 November 2046 II-15-B 10,423,749.75 Variable2 November 2046 II-16-B 10,141,474.32 Variable2 November 2046 II-18-A 8,931,837.74 Variable2 May 2008 November 2046 II-18-B 8,931,837.74 Variable2 November 2046 II-19-A 11,216,814.02 Variable2 June 2008 November 2046 II-19-B 11,216,814.02 Variable2 November 2046 II-20-A 10,563,077.31 Variable2 July 2008 November 2046 II-20-B 10,563,077.31 Variable2 November 2046 II-21-B 10,013,841.36 Variable2 November 2046 II-22-B 90,325,253.61 Variable2 November 2046 II-23-B 12,312,136.62 Variable2 November 2046 II-24-B 12,728,276.66 Variable2 November 2046 II-25-B 10,961,719.43 Variable2 November 2046 II-26-A 8,474,141.99 Variable2 January 2009 November 2046 II-26-B 8,474,141.99 Variable2 November 2046 II-27-A 7,000,477.23 Variable2 February 2009 November 2046 II-27-B 7,000,477.23 Variable2 November 2046 II-28-B 6,040,260.58 Variable2 November 2046 II-29-A 5,249,743.00 Variable2 April 2009 November 2046 II-29-B 5,249,743.00 Variable2 November 2046 II-30-A 4,458,468.85 Variable2 May 2009 November 2046 II-30-B 4,458,468.85 Variable2 November 2046 II-31-B 4,178,349.85 Variable2 November 2046 II-32-A 4,013,977.53 Variable2 July 2009 November 2046 II-32-B 4,013,977.53 Variable2 November 2046 II-33-A 3,813,939.79 Variable2 August 2009 November 2046 II-33-B 3,813,939.79 Variable2 November 2046 II-34-A 5,044,979.50 Variable2 September 2009 November 2046 II-34-B 5,044,979.50 Variable2 November 2046 II-35-A 709,233.06 Variable2 October 2009 November 2046 II-35-B 709,233.06 Variable2 November 2046 II-36-B 7,423,525.06 Variable2 November 2046 II-37-B 3,939,801.99 Variable2 November 2046 II-38-A 3,710,953.13 Variable2 January 2010 November 2046 II-38-B 3,710,953.13 Variable2 November 2046 II-39-A 3,533,025.51 Variable2 February 2010 November 2046 II-39-B 3,533,025.51 Variable2 November 2046 II-40-A 3,372,321.41 Variable2 March 2010 November 2046 II-40-B 3,372,321.41 Variable2 November 2046 II-41-A 3,203,192.80 Variable2 April 2010 November 2046 II-41-B 3,203,192.80 Variable2 November 2046 II-42-A 2,959,143.92 Variable2 May 2010 November 2046 II-42-B 2,959,143.92 Variable2 November 2046 II-43-A 2,802,342.40 Variable2 June 2010 November 2046 II-43-B 2,802,342.40 Variable2 November 2046 II-44-A 2,384,684.98 Variable2 July 2010 November 2046 II-44-B 2,384,684.98 Variable2 November 2046 II-45-A 2,284,033.30 Variable2 August 2010 November 2046 II-45-B 2,284,033.30 Variable2 November 2046 II-47-A 2,603,111.11 Variable2 October 2010 November 2046 II-47-B 2,603,111.11 Variable2 November 2046 II-48-A 2,508,730.46 Variable2 November 2010 November 2046 II-48-B 2,508,730.46 Variable2 November 2046 II-49-A 2,379,305.40 Variable2 December 2010 November 2046 II-49-B 2,379,305.40 Variable2 November 2046 II-50-A 2,280,822.62 Variable2 January 2011 November 2046 II-50-B 2,280,822.62 Variable2 November 2046 II-51-A 2,107,783.55 Variable2 February 2011 November 2046 II-51-B 2,107,783.55 Variable2 November 2046 II-52-A 1,950,428.65 Variable2 March 2011 November 2046 II-52-B 1,950,428.65 Variable2 November 2046 II-55-A 1,973,946.84 Variable2 June 2011 November 2046 II-55-B 1,973,946.84 Variable2 November 2046 II-56-A 1,787,245.81 Variable2 July 2011 November 2046 II-56-B 1,787,245.81 Variable2 November 2046 II-57-A 1,640,941.20 Variable2 August 2011 November 2046 II-57-B 1,640,941.20 Variable2 November 2046 II-58-A 1,466,536.73 Variable2 September 2011 November 2046 II-58-B 1,466,536.73 Variable2 November 2046 II-59-A 21,125,473.88 Variable2 October 2011 November 2046 II-59-B 21,125,473.88 Variable2 November 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $744,842,230.21 Variable2 November 2046 A-IA 2,101,980.00 Variable2 November 2046 A-IIA1 1,647,385.00 Variable2 November 2046 A-IIA2 714,610.00 Variable2 November 2046 A-IIA3 1,220,790.00 Variable2 November 2046 A-IIA4 433,605.00 Variable2 November 2046 M1 243,215.00 Variable2 November 2046 M2 228,015.00 Variable2 November 2046 M3 140,610.00 Variable2 November 2046 M4 125,410.00 Variable2 November 2046 M5 125,410.00 Variable2 November 2046 M6 110,205.00 Variable2 November 2046 M7 79,805.00 Variable2 November 2046 M8 79,805.00 Variable2 November 2046 M9 53,205.00 Variable2 November 2046 M10 53,205.00 Variable2 November 2046 B 76,005.00 Variable2 November 2046 ZZ 7,767,601.84 Variable2 November 2046 1GRP 52,223.04 Variable2 November 2046 1SUB 10,183.44 Variable2 November 2046 2GRP 99,785.58 Variable2 November 2046 2SUB 19,457.78 Variable2 November 2046 Swap IO N/A3 Variable2 November 2046 FMR IO N/A4 Variable2 November 2046 XX 759,861,442.21 Variable2 November 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC Certificate Maturity Date1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 3.” The Class R‑3 Interest represents the sole class of “residual interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth characteristics of (or describes) the Certificates Class designation, Pass-Through Rate and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Original Class Certificate of Principal Balance for each Class of Certificates may be issued in any amount in excess that represents one or more of the minimum denomination):“regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: I‑A $420,396,000.00 Variable2 November 2046 II-A1 329,477,000.00 Variable2 November 2046 II-A2 142,922,000.00 Variable2 November 2046 II-A3 244,158,000.00 Variable2 November 2046 II-A4 86,721,000.00 Variable2 November 2046 M‑1 48,643,000.00 Variable2 November 2046 M‑2 45,603,000.00 Variable2 November 2046 M‑3 28,122,000.00 Variable2 November 2046 M‑4 25,082,000.00 Variable2 November 2046 M‑5 25,082,000.00 Variable2 November 2046 M‑6 22,041,000.00 Variable2 November 2046 M‑7 15,961,000.00 Variable2 November 2046 M‑8 15,961,000.00 Variable2 November 2046 M‑9 10,641,000.00 Variable2 November 2046 M-10 10,641,000.00 Variable2 November 2046 B 15,201,000.00 Variable2 November 2046 Swap IO N/A Variable5 November 2046 FM Reserve IO N/A Variable5 November 2046 Class C Interest3 33,434,084.10 Variable2 November 2046 Class P Interest $100.00 N/A4 November 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC 2 Regular Interests. The Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the interest paid on REMIC 2 Regular Interests Swap IO and FMR IO, respectively. These interests will not be certificated.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2005-11 Mortgage Loan Pass-Through Certificates, Series 2005-11 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-four classes of certificates, designated as (i) the Class 1-A-1 Certificates, (ii) the Class 1-A2 Certificates, (iii) the Class 2-A-1 Certificates, (iv) the Class 2-A2A Certificates, (v) the Class 2-A2B Certificates, (vi) the Class 1-X Certificates, (vii) the Class X Certificates, (viii) the Class PO Certificates, (ix) the Class 2-PO Certificates, (x) the Class A-R Certificates, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates and (xxiv) the Class P Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, and the Yield Maintenance Account and the Yield Maintenance Agreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R and Class A-R-II Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund, other than the Excluded Trust Property and the interests created in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC Certificate Maturity Dateregular interest. Lower-Tier REMIC Interests The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 222,415,510.10 Group 1 LT-Group 1 SCA (1) $ 238,235.96 Group 1 LT-Group 2 (2) $ 463,586,139.55 Group 2 LT-Group 2 SCA (2) $ 496,566.56 Group 2 LT-R (3) (3) N/A

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2004-8 Mortgage Loan Pass-Through Certificates, Series 2004-8 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of seventeen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A1 Certificates, (iii) the Class 2-A2 Certificates, (iv) the Class 2-A3 Certificates, (v) the Class 2-A4A Certificates, (vi) the Class 2-A4B Certificates, (vii) the Class 3-A1 Certificates, (viii) the Class 3-A2 Certificates, (ix) the Class X Certificates, (x) the Class A-R Certificates, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates and (xvii) the Class Y Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account and the Class 1-A Basis Risk Account) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A, Class 2-A2, Class 2-A3, Class 2-A4A, Class 2-A4B, Class 3-A2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07, (ii) the Class 2-A3, Class 2-A4A, Class 2-A4B and Class 3-A2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04 and (iii) the Class 1-A Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Class 1-A Basis Risk Account as provided in Section 4.05. The owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Class 1-A Basis Risk Account, and the interests created in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be the designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates may be issued in any amount in excess of the minimum denomination):LT1-A (1) $ 110,995,250.00 Class 1-A LT2-A1 (1) $ 25,000,000.00 Class 2-A1 LT2-A2 (1) $ 50,000,000.00 Class 2-A2 LT2-A3 (1) $ 31,250,000.00 Class 2-A3 LT2-A4A (1) $ 59,006,500.00 Class 2-A4A LT2-A4B (1) $ 10,413,000.00 Class 2-A4B LT3-A1 (1) $ 16,176,750.00 Class 3-A1 LT3-A2 (1) $ 25,000,000.00 Class 3-A2 LTA-R (1) $ 25.00 Class A-R LT-Group 1 (2) $ 118,647,290.45 N/A LT-SC-1 (2) $ 318,835.02 N/A LT-Group 2 (3) $ 187,780,038.44 N/A LT-SC-2 (3) $ 504,605.77 N/A LT-Group 3 (4) $ 44,015,523.86 N/A LT-SC-3 (4) $ 118,282.24 N/A LTQ (1) $ 702,769,151.57 N/A LT-R (5) (5) Class A-R __________________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class M-1 Certificates, (v) the Class M-2 Certificates, (vi) the Class M-3 Certificates, (vii) the Class M-4 Certificates, (viii) the Class M-5 Certificates, (ix) the Class M-6 Certificates, (x) the Class M-7 Certificates, (xi) the Class M-8 Certificates, (xii) the Class M-9 Certificates, (xiii) the Class M-10 Certificates, (xiv) the Class B-1 Certificates, (xv) the Class B-2 Certificates, (xvi) the Class P Certificates, (xvii) the Class X-1 Certificates, (xviii) the Class X-2 Certificates, (xix) the Class X-S Certificates and (x) the Class A-R Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, Basis Risk Reserve Fund, Swap Account, the Capitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the Certificates and “regular interests” in REMIC 1 (the Components, together with “REMIC 1 Regular Interests”). None of the minimum denominations and integral multiples in excess thereof in which the Classes REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of Certificates shall be issuable (except that one Certificate satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 Regular Interests will be the Latest Possible Maturity Date as defined herein. ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twelve classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class III-A-1 Certificates, (iv) the Class III-A-2 Certificates, (v) the Class III-A-3 Certificates, (vi) the Class III-A-4 Certificates, (vii) the Class III-A-5 Certificates, (viii) the Class III-A-6 Certificates, (ix) the Class C Certificates, (x) the Class P Certificates, (xi) the Class R Certificates and (xii) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Certificate Principal Balance Assumed Final Maturity Date(1) I (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 739,920,723.03 February 2037 I-2-B (2) $ 1,447,501.25 February 2037 I-3-B (2) $ 1,644,746.25 February 2037 I-5-B (2) $ 2,027,721.25 February 2037 I-8-B (2) $ 2,558,896.25 February 2037 I-9-B (2) $ 2,646,161.25 February 2037 I-11-B (2) $ 2,594,476.25 February 2037 I-14-B (2) $ 2,427,408.75 February 2037 I-18-B (2) $ 2,221,170.00 February 2037 I-19-B (2) $ 2,172,392.50 February 2037 P (2) $ 100.00 February 2037 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which Certificates in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of seven classes of certificates, designated as (i) the Class A Certificates, (ii) the Class IO Certificates, (iii) the Class M Certificates, (iv) the Class B Certificates, (v) the Class C Certificates, (vi) the Class P Certificates and (vii) the Class R Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, the Interest Coverage Account, the Excess Reserve Fund Account and the other assets identified as excluded in accordance with the definition of “REMIC 1” herein) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest represents the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate(1) LT1AA Variable(2) $156,800,000.00 August 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2012 LT1A Variable(2) $1,568,800.00 August 25, 2012 LT1M Variable(2) $11,200.00 August 25, 2012 LT1B Variable(2) $20,000.00 August 25, 2012 LT1ZZ Variable(2) $1,600,000.00 August 25, 2012 LT1P Variable(2) $100.00 August 25, 2012 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class A-4 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class M-9 Certificates, (xiv) the Class M-10 Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates, (xvii) the Class R Certificates and (xviii) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Basis Risk Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 119,783,432.50 January 2037 I-7-B Variable (2) $ 10,377,761.25 January 2037 I-8-B Variable (2) $ 9,998,421.25 January 2037 I-11-B Variable (2) $ 8,947,216.25 January 2037 I-12-B Variable (2) $ 8,621,106.25 January 2037 I-13-B Variable (2) $ 8,484,503.75 January 2037 I-16-B Variable (2) $ 3,214,431.25 January 2037 I-19-B Variable (2) $ 2,042,495.00 January 2037 I-24-B Variable (2) $ 1,728,581.25 January 2037 I-27-B Variable (2) $ 1,398,851.25 January 2037 I-29-B Variable (2) $ 1,314,318.75 January 2037 I-35-B Variable (2) $ 1,091,092.50 January 2037 I-38-A Variable (2) $ 994,577.50 January 2037 I-38-B Variable (2) $ 994,577.50 January 2037 I-39-A Variable (2) $ 964,403.75 January 2037 I-39-B Variable (2) $ 964,403.75 January 2037 I-40-B Variable (2) $ 935,172.50 January 2037 I-41-A Variable (2) $ 906,855.00 January 2037 I-41-B Variable (2) $ 906,855.00 January 2037 I-42-A Variable (2) $ 879,421.25 January 2037 I-42-B Variable (2) $ 879,421.25 January 2037 I-43-A Variable (2) $ 852,841.25 January 2037 I-43-B Variable (2) $ 852,841.25 January 2037 I-44-A Variable (2) $ 827,088.75 January 2037 I-44-B Variable (2) $ 827,088.75 January 2037 I-45-A Variable (2) $ 814,118.75 January 2037 I-45-B Variable (2) $ 814,118.75 January 2037 I-47-A Variable (2) $ 753,991.25 January 2037 I-47-B Variable (2) $ 753,991.25 January 2037 I-48-A Variable (2) $ 732,963.75 January 2037 I-48-B Variable (2) $ 732,963.75 January 2037 I-49-B Variable (2) $ 709,252.50 January 2037 I-50-A Variable (2) $ 1,838,346.25 January 2037 I-50-B Variable (2) $ 1,838,346.25 January 2037 I-51-A Variable (2) $ 21,370,137.50 January 2037 I-51-B Variable (2) $ 21,370,137.50 January 2037 P Variable (2) $ 100.00 January 2037 ________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2004-5 Mortgage Loan Pass-Through Certificates, Series 2004-5 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of thirteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A-1 Certificates, (iii) the Class 2-A-2A Certificates, (iv) the Class 2-A-2B Certificates, (v) the Class 2-A-3 Certificates, (vi) the Class 2-A-4 Certificates, (vii) the Class 2-A-5 Certificates, (viii) the Class 2-A-6 Certificates, (ix) the Class 3-A Certificates, (x) the Class X Certificates, (xi) the Class A-R Certificates, (xii) the Class B-1 Certificate, (xiii) the Class B-2 Certificates, (xiv) the Class B-3 Certificates, (xv) the Class B-4 Certificates, (xvi) the Class B-5 Certificates, (xvii) the Class B-6 Certificates and (xiii) the Class P Certificate. As provided herein, the Trustee shall elect that the Trust Fund be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC”, the “Middle-Tier REMIC”, and the “Upper-Tier REMIC”). Each Certificate, other than the Class P Certificate and the Class A-R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund and the interests created in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the several classes of uncertificated interests of the Lower-Tier REMIC, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Certificate Maturity DateInterests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: Lower Tier REMICClass Designation Interest Rate Initial Class Principal Balance Related Loan Group Class LT-Group 1 (1) $171,603,744.87 Group1 Class LT-SC1 (1) $86,704.49 Group 1 Class LT-Group 2 (2) $355,317,685.06 Group 2 Class LT-SC2 (2) $179,532.17 Group 2 Class LT-Group 3 (3) $78,608,507.85 Group 3 Class LT-SC3 (3) $39,722.30 Group 3 Class LT-R (4) (4) N/A __________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class M-11 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xvix) the Class R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the Net WAC Rate Carryover Reserve Account, the Master Servicer Prepayment Charge Payment Amounts, the Swap Account and the Interest Rate Swap Agreement) as a real estate investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the REMIC Certificate Maturity Datecertificated. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):I Variable $ 36,457,680.32 January 2036 I-1-A Variable $ 23,099,640.00 January 2036 I-1-B Variable $ 23,099,640.00 January 2036 I-2-A Variable $ 27,947,357.50 January 2036 I-2-B Variable $ 27,947,357.50 January 2036 I-3-A Variable $ 32,736,901.25 January 2036 I-3-B Variable $ 32,736,901.25 January 2036 I-4-A Variable $ 37,421,968.75 January 2036 I-4-B Variable $ 37,421,968.75 January 2036 I-5-A Variable $ 41,954,925.00 January 2036 I-5-B Variable $ 41,954,925.00 January 2036 I-6-A Variable $ 46,286,948.75 January 2036 I-6-B Variable $ 46,286,948.75 January 2036 I-7-A Variable $ 50,368,903.75 January 2036 I-7-B Variable $ 50,368,903.75 January 2036 I-8-A Variable $ 54,126,473.75 January 2036 I-8-B Variable $ 54,126,473.75 January 2036 I-9-A Variable $ 54,051,031.25 January 2036 I-9-B Variable $ 54,051,031.25 January 2036 I-10-A Variable $ 51,546,743.75 January 2036 I-10-B Variable $ 51,546,743.75 January 2036 I-11-A Variable $ 49,150,301.25 January 2036 I-11-B Variable $ 49,150,301.25 January 2036 I-12-A Variable $ 46,866,570.00 January 2036 I-12-B Variable $ 46,866,570.00 January 2036 I-13-A Variable $ 44,690,212.50 January 2036 I-13-B Variable $ 44,690,212.50 January 2036 I-14-A Variable $ 42,616,127.50 January 2036 I-14-B Variable $ 42,616,127.50 January 2036 I-15-A Variable $ 40,639,418.75 January 2036 I-15-B Variable $ 40,639,418.75 January 2036 I-16-A Variable $ 38,758,293.75 January 2036 I-16-B Variable $ 38,758,293.75 January 2036 I-17-A Variable $ 36,967,147.50 January 2036 I-17-B Variable $ 36,967,147.50 January 2036 I-18-A Variable $ 35,264,071.25 January 2036 I-18-B Variable $ 35,264,071.25 January 2036 I-19-A Variable $ 33,953,441.25 January 2036 I-19-B Variable $ 33,953,441.25 January 2036 I-20-A Variable $ 70,592,941.25 January 2036 I-20-B Variable $ 70,592,941.25 January 2036 I-21-A Variable $ 85,972,655.00 January 2036 I-21-B Variable $ 85,972,655.00 January 2036 I-22-A Variable $ 71,862,706.25 January 2036 I-22-B Variable $ 71,862,706.25 January 2036 I-23-A Variable $ 60,008,702.50 January 2036 I-23-B Variable $ 60,008,702.50 January 2036 I-24-A Variable $ 34,223,337.50 January 2036 I-24-B Variable $ 34,223,337.50 January 2036 I-25-A Variable $ 19,266,568.75 January 2036 I-25-B Variable $ 19,266,568.75 January 2036 I-26-A Variable $ 18,194,422.50 January 2036 I-26-B Variable $ 18,194,422.50 January 2036 I-27-A Variable $ 17,227,297.50 January 2036 I-27-B Variable $ 17,227,297.50 January 2036 I-28-A Variable $ 16,313,706.25 January 2036 I-28-B Variable $ 16,313,706.25 January 2036 I-29-A Variable $ 15,450,972.50 January 2036 I-29-B Variable $ 15,450,972.50 January 2036 I-30-A Variable $ 14,635,982.50 January 2036 I-30-B Variable $ 14,635,982.50 January 2036 I-31-A Variable $ 13,866,007.50 January 2036 I-31-B Variable $ 13,866,007.50 January 2036 I-32-A Variable $ 13,138,326.25 January 2036 I-32-B Variable $ 13,138,326.25 January 2036 I-33-A Variable $ 12,450,007.50 January 2036 I-33-B Variable $ 12,450,007.50 January 2036 I-34-A Variable $ 11,800,291.25 January 2036 I-34-B Variable $ 11,800,291.25 January 2036 I-35-A Variable $ 11,186,247.50 January 2036 I-35-B Variable $ 11,186,247.50 January 2036 I-36-A Variable $ 10,605,783.75 January 2036 I-36-B Variable $ 10,605,783.75 January 2036 I-37-A Variable $ 10,056,988.75 January 2036 I-37-B Variable $ 10,056,988.75 January 2036 I-38-A Variable $ 9,538,071.25 January 2036 I-38-B Variable $ 9,538,071.25 January 2036 I-39-A Variable $ 9,047,342.50 January 2036 I-39-B Variable $ 9,047,342.50 January 2036 I-40-A Variable $ 8,583,208.75 January 2036 I-40-B Variable $ 8,583,208.75 January 2036 I-41-A Variable $ 8,144,183.75 January 2036 I-41-B Variable $ 8,144,183.75 January 2036 I-42-A Variable $ 7,728,843.75 January 2036 I-42-B Variable $ 7,728,843.75 January 2036 I-43-A Variable $ 154,382,580.00 January 2036 I-43-B Variable $ 154,382,580.00 January 2036 P Variable $ 100.00 January 2036

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component sell pass‑through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II‑A4 Certificates, (vi) the Class M‑1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M‑4 Certificates, (x) the Class M‑5 Certificates, (xi) the Class M‑6 Certificates, (xii) the Class M‑7 Certificates, (xiii) the Class M‑8 Certificates, (xiv) the Class M‑9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class M-11 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 69,055,533.90 Variable2 N/A September 2046 I-5-B 809,527.24 Variable2 September 2046 I-11-B 4,962,685.80 Variable2 September 2046 I-13-B 5,260,790.23 Variable2 September 2046 I-14-B 5,108,881.09 Variable2 September 2046 I-18-B 5,350,858.39 Variable2 September 2046 I-21-B 4,423,276.85 Variable2 September 2046 I-22-B 38,627,646.06 Variable2 September 2046 I-23-B 5,398,719.47 Variable2 September 2046 I-24-B 5,782,309.39 Variable2 September 2046 I-25-B 4,756,253.02 Variable2 September 2046 I-26-A 3,670,650.79 Variable2 November 2008 September 2046 I-26-B 3,670,650.79 Variable2 September 2046 I-27-A 3,028,452.45 Variable2 December 2008 September 2046 I-27-B 3,028,452.45 Variable2 September 2046 I-28-B 2,610,073.37 Variable2 September 2046 I-29-A 2,310,421.80 Variable2 February 2009 September 2046 I-29-B 2,310,421.80 Variable2 September 2046 I-30-B 1,974,020.47 Variable2 September 2046 I-34-B 2,173,428.98 Variable2 September 2046 I-35-B 2,132,749.37 Variable2 September 2046 I-36-A 779,569.33 Variable2 September 2009 September 2046 I-36-B 779,569.33 Variable2 September 2046 I-38-B 1,588,609.32 Variable2 September 2046 I-39-A 1,535,261.76 Variable2 December 2009 September 2046 I-39-B 1,535,261.76 Variable2 September 2046 I-40-B 1,473,266.51 Variable2 September 2046 I-41-B 1,431,467.73 Variable2 September 2046 I-42-A 1,344,435.95 Variable2 March 2010 September 2046 I-42-B 1,344,435.95 Variable2 September 2046 I-43-A 1,242,297.71 Variable2 April 2010 September 2046 I-44-A 1,012,984.03 Variable2 May 2010 September 2046 I-44-B 1,012,984.03 Variable2 September 2046 I-45-A 970,865.81 Variable2 June 2010 September 2046 I-45-B 970,865.81 Variable2 September 2046 I-47-B 899,495.38 Variable2 September 2046 I-48-B 856,459.15 Variable2 September 2046 I-49-A 805,765.34 Variable2 October 2010 September 2046 I-49-B 805,765.34 Variable2 September 2046 I-50-A 890,746.41 Variable2 November 2010 September 2046 I-50-B 890,746.41 Variable2 September 2046 I-51-A 885,985.03 Variable2 December 2010 September 2046 I-51-B 885,985.03 Variable2 September 2046 I-52-A 822,331.60 Variable2 January 2011 September 2046 I-52-B 822,331.60 Variable2 September 2046 I-53-B 780,114.76 Variable2 September 2046 I-54-A 803,777.96 Variable2 March 2011 September 2046 I-54-B 803,777.96 Variable2 September 2046 I-55-A 724,199.80 Variable2 April 2011 September 2046 I-55-B 724,199.80 Variable2 September 2046 I-56-A 766,582.93 Variable2 May 2011 September 2046 I-56-B 766,582.93 Variable2 September 2046 I-57-A 704,101.11 Variable2 June 2011 September 2046 I-57-B 704,101.11 Variable2 September 2046 I-58-A 630,308.64 Variable2 July 2011 September 2046 I-58-B 630,308.64 Variable2 September 2046 IIX3 178,464,568.91 Variable2 N/A September 2046 II-1-B 4,236,495.26 Variable2 September 2046 II-2-B 4,985,283.67 Variable2 September 2046 II-3-B 5,727,381.46 Variable2 September 2046 II-4-B 6,459,568.24 Variable2 September 2046 II-6-B 2,967,674.49 Variable2 September 2046 II-8-A 5,354,481.01 Variable2 May 2007 September 2046 II-8-B 5,354,481.01 Variable2 September 2046 II-10-B 8,248,277.53 Variable2 September 2046 II-11-B 12,825,381.70 Variable2 September 2046 II-12-B 13,487,190.30 Variable2 September 2046 II-13-A 13,595,791.77 Variable2 October 2007 September 2046 II-13-B 13,595,791.77 Variable2 September 2046 II-14-B 13,203,203.41 Variable2 September 2046 II-15-B 16,502,150.82 Variable2 September 2046 II-16-B 15,857,809.06 Variable2 September 2046 II-17-B 14,642,120.27 Variable2 September 2046 II-18-A 13,828,560.61 Variable2 March 2008 September 2046 II-18-B 13,828,560.61 Variable2 September 2046 II-19-A 12,943,845.16 Variable2 April 2008 September 2046 II-19-B 12,943,845.16 Variable2 September 2046 II-20-A 12,159,168.81 Variable2 May 2008 September 2046 II-20-B 12,159,168.81 Variable2 September 2046 II-21-B 11,431,353.15 Variable2 September 2046 II-22-B 99,827,860.44 Variable2 September 2046 II-23-B 13,952,251.03 Variable2 September 2046 II-24-A 14,943,586.61 Variable2 September 2008 September 2046 II-24-B 14,943,586.61 Variable2 September 2046 II-25-A 12,291,884.48 Variable2 October 2008 September 2046 II-25-B 12,291,884.48 Variable2 September 2046 II-26-A 9,486,294.21 Variable2 November 2008 September 2046 II-26-B 9,486,294.21 Variable2 September 2046 II-27-A 7,826,620.55 Variable2 December 2008 September 2046 II-27-B 7,826,620.55 Variable2 September 2046 II-28-A 6,745,377.13 Variable2 January 2009 September 2046 II-28-B 6,745,377.13 Variable2 September 2046 II-29-A 5,970,968.70 Variable2 February 2009 September 2046 II-29-B 5,970,968.70 Variable2 September 2046 II-30-A 5,101,585.53 Variable2 March 2009 September 2046 II-30-B 5,101,585.53 Variable2 September 2046 II-32-A 4,701,168.08 Variable2 May 2009 September 2046 II-32-B 4,701,168.08 Variable2 September 2046 II-33-A 4,513,387.04 Variable2 June 2009 September 2046 II-33-B 4,513,387.04 Variable2 September 2046 II-34-A 5,616,929.52 Variable2 July 2009 September 2046 II-34-B 5,616,929.52 Variable2 September 2046 II-35-A 5,511,798.63 Variable2 August 2009 September 2046 II-35-B 5,511,798.63 Variable2 September 2046 II-36-A 2,014,690.17 Variable2 September 2009 September 2046 II-36-B 2,014,690.17 Variable2 September 2046 II-37-A 3,098,748.05 Variable2 October 2009 September 2046 II-37-B 3,098,748.05 Variable2 September 2046 II-38-A 4,105,543.18 Variable2 November 2009 September 2046 II-38-B 4,105,543.18 Variable2 September 2046 II-39-A 3,967,673.74 Variable2 December 2009 September 2046 II-39-B 3,967,673.74 Variable2 September 2046 II-40-A 3,807,455.49 Variable2 January 2010 September 2046 II-40-B 3,807,455.49 Variable2 September 2046 II-41-A 3,699,432.27 Variable2 February 2010 September 2046 II-41-B 3,699,432.27 Variable2 September 2046 II-42-A 3,474,510.55 Variable2 March 2010 September 2046 II-42-B 3,474,510.55 Variable2 September 2046 II-43-A 3,210,548.29 Variable2 April 2010 September 2046 II-43-B 3,210,548.29 Variable2 September 2046 II-44-A 2,617,918.47 Variable2 May 2010 September 2046 II-44-B 2,617,918.47 Variable2 September 2046 II-45-A 2,509,069.69 Variable2 June 2010 September 2046 II-45-B 2,509,069.69 Variable2 September 2046 II-47-A 2,324,622.62 Variable2 August 2010 September 2046 II-47-B 2,324,622.62 Variable2 September 2046 II-48-A 2,213,401.35 Variable2 September 2010 September 2046 II-48-B 2,213,401.35 Variable2 September 2046 II-49-A 2,082,390.16 Variable2 October 2010 September 2046 II-49-B 2,082,390.16 Variable2 September 2046 II-50-A 2,302,012.09 Variable2 November 2010 September 2046 II-50-B 2,302,012.09 Variable2 September 2046 II-51-B 2,289,706.97 Variable2 September 2046 II-52-A 2,125,203.40 Variable2 January 2011 September 2046 II-52-B 2,125,203.40 Variable2 September 2046 II-53-A 2,016,099.74 Variable2 February 2011 September 2046 II-53-B 2,016,099.74 Variable2 September 2046 II-54-A 2,077,254.04 Variable2 March 2011 September 2046 II-54-B 2,077,254.04 Variable2 September 2046 II-55-A 1,871,595.20 Variable2 April 2011 September 2046 II-55-B 1,871,595.20 Variable2 September 2046 II-56-A 1,981,128.57 Variable2 May 2011 September 2046 II-56-B 1,981,128.57 Variable2 September 2046 II-57-A 1,819,652.89 Variable2 June 2011 September 2046 II-57-B 1,819,652.89 Variable2 September 2046 II-58-A 1,628,946.36 Variable2 July 2011 September 2046 II-58-B 1,628,946.36 Variable2 September 2046 II-59-A 23,940,936.99 Variable2 August 2011 September 2046 II-59-B 23,940,936.99 Variable2 September 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $782,339,394.81 Variable2 September 2046 A-IA 1,800,695.00 Variable2 September 2046 A-IIA1 2,045,840.00 Variable2 September 2046 A-IIA2 711,390.00 Variable2 September 2046 A-IIA3 1,431,045.00 Variable2 September 2046 A-IIA4 465,345.00 Variable2 September 2046 M1 255,460.00 Variable2 September 2046 M2 239,490.00 Variable2 September 2046 M3 147,685.00 Variable2 September 2046 M4 131,720.00 Variable2 September 2046 M5 127,730.00 Variable2 September 2046 M6 103,780.00 Variable2 September 2046 M7 79,830.00 Variable2 September 2046 M8 79,830.00 Variable2 September 2046 M9 55,880.00 Variable2 September 2046 M10 55,880.00 Variable2 September 2046 M11 79,830.00 Variable2 September 2046 ZZ 8,154,680.10 Variable2 September 2046 1GRP 44,543.79 Variable2 September 2046 1SUB 8,529.89 Variable2 September 2046 2GRP 22,044.91 Variable2 September 2046 2SUB 115,117.31 Variable2 September 2046 Swap IO N/A3 Variable2 September 2046 FMR IO N/A4 Variable2 September 2046 XX 798,115,269.00 Variable2 September 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC Certificate Maturity Date1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 3.” The Class R‑3 Interest represents the sole class of “residual interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth characteristics of (or describes) the Certificates Class designation, Pass-Through Rate and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Original Class Certificate of Principal Balance for each Class of Certificates may be issued in any amount in excess that represents one or more of the minimum denomination):“regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: I‑A $360,139,000.00 Variable2 September 2046 II-A1 409,168,000.00 Variable2 September 2046 II-A2 142,278,000.00 Variable2 September 2046 II-A3 286,209,000.00 Variable2 September 2046 II-A4 93,069,000.00 Variable2 September 2046 M‑1 51,092,000.00 Variable2 September 2046 M‑2 47,898,000.00 Variable2 September 2046 M‑3 29,537,000.00 Variable2 September 2046 M‑4 26,344,000.00 Variable2 September 2046 M‑5 25,546,000.00 Variable2 September 2046 M‑6 20,756,000.00 Variable2 September 2046 M‑7 15,966,000.00 Variable2 September 2046 M‑8 15,966,000.00 Variable2 September 2046 M‑9 11,176,000.00 Variable2 September 2046 M-10 11,176,000.00 Variable2 September 2046 M‑11 15,966,000.00 Variable2 September 2046 Swap IO N/A Variable5 September 2046 FM Reserve IO N/A Variable5 September 2046 Class C Interest3 34,324,909.81 Variable2 September 2046 Class P Interest $100.00 N/A4 September 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC 2 Regular Interests. The Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the interest paid on REMIC 2 Regular Interests Swap IO and FMR IO, respectively. These interests will not be certificated.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty one classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class A-4 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class M-9 Certificates, (xiv) the Class M-10 Certificates, (xv) the Class M-11 Certificates, (xvi) the Class M-12 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the Net WAC Rate Carryover Reserve Account, the Master Servicer Prepayment Charge Payment Amounts, the Interest Coverage Account, the Swap Account and the Interest Rate Swap Agreement) as a real estate investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the REMIC Certificate Maturity Datecertificated. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):I-1-B Variable $ 9,290,151.64 November 2035 I-2-A Variable $ 11,097,571.46 November 2035 I-2-B Variable $ 11,097,571.46 November 2035 I-3-B Variable $ 12,884,895.21 November 2035 I-4-B Variable $ 14,643,735.33 November 2035 I-5-A Variable $ 16,364,029.36 November 2035 I-5-B Variable $ 16,364,029.36 November 2035 I-6-A Variable $ 18,036,032.89 November 2035 I-6-B Variable $ 18,036,032.89 November 2035 I-7-A Variable $ 19,649,898.60 November 2035 I-7-B Variable $ 19,649,898.60 November 2035 I-8-A Variable $ 21,195,830.08 November 2035 I-8-B Variable $ 21,195,830.08 November 2035 I-9-A Variable $ 22,664,150.14 November 2035 I-9-B Variable $ 22,664,150.14 November 2035 I-10-A Variable $ 24,040,720.65 November 2035 I-10-B Variable $ 24,040,720.65 November 2035 I-11-A Variable $ 24,985,439.45 November 2035 I-11-B Variable $ 24,985,439.45 November 2035 I-12-A Variable $ 25,773,669.19 November 2035 I-12-B Variable $ 25,773,669.19 November 2035 I-13-A Variable $ 26,479,760.65 November 2035 I-13-B Variable $ 26,479,760.65 November 2035 I-14-A Variable $ 27,098,101.21 November 2035 I-14-B Variable $ 27,098,101.21 November 2035 I-15-A Variable $ 27,623,771.23 November 2035 I-15-B Variable $ 27,623,771.23 November 2035 I-16-A Variable $ 28,052,508.34 November 2035 I-16-B Variable $ 28,052,508.34 November 2035 I-17-A Variable $ 28,380,726.96 November 2035 I-17-B Variable $ 28,380,726.96 November 2035 I-18-A Variable $ 28,605,727.66 November 2035 I-18-B Variable $ 28,605,727.66 November 2035 I-19-A Variable $ 28,725,298.35 November 2035 I-19-B Variable $ 28,725,298.35 November 2035 I-20-A Variable $ 28,737,978.06 November 2035 I-20-B Variable $ 28,737,978.06 November 2035 I-21-A Variable $ 28,643,233.90 November 2035 I-21-B Variable $ 28,643,233.90 November 2035 I-22-B Variable $ 28,433,299.30 November 2035 I-23-A Variable $ 26,797,776.75 November 2035 I-23-B Variable $ 26,797,776.75 November 2035 I-24-A Variable $ 25,280,895.43 November 2035 I-24-B Variable $ 25,280,895.43 November 2035 I-25-A Variable $ 23,853,628.18 November 2035 I-25-B Variable $ 23,853,628.18 November 2035 I-26-A Variable $ 22,509,559.50 November 2035 I-26-B Variable $ 22,509,559.50 November 2035 I-27-A Variable $ 21,243,755.83 November 2035 I-27-B Variable $ 21,243,755.83 November 2035 I-28-A Variable $ 20,051,578.73 November 2035 I-28-B Variable $ 20,051,578.73 November 2035 I-29-A Variable $ 18,928,607.50 November 2035 I-29-B Variable $ 18,928,607.50 November 2035 I-30-A Variable $ 17,870,787.08 November 2035 I-30-B Variable $ 17,870,787.08 November 2035 I-32-B Variable $ 15,935,605.04 November 2035 I-33-A Variable $ 15,051,145.14 November 2035 I-33-B Variable $ 15,051,145.14 November 2035 I-34-A Variable $ 14,217,545.79 November 2035 I-34-B Variable $ 14,217,545.79 November 2035 I-35-A Variable $ 13,431,020.73 November 2035 I-35-B Variable $ 13,431,020.73 November 2035 I-36-A Variable $ 12,691,027.83 November 2035 I-36-B Variable $ 12,691,027.83 November 2035 I-37-A Variable $ 11,993,631.98 November 2035 I-37-B Variable $ 11,993,631.98 November 2035 I-38-A Variable $ 11,336,274.36 November 2035 I-38-B Variable $ 11,336,274.36 November 2035 I-39-A Variable $ 10,716,599.64 November 2035 I-39-B Variable $ 10,716,599.64 November 2035 I-40-A Variable $ 10,132,392.80 November 2035 I-40-B Variable $ 10,132,392.80 November 2035 I-41-A Variable $ 9,581,570.75 November 2035 I-41-B Variable $ 9,581,570.75 November 2035 I-42-A Variable $ 9,062,174.36 November 2035 I-42-B Variable $ 9,062,174.36 November 2035 I-43-A Variable $ 8,572,361.14 November 2035 I-43-B Variable $ 8,572,361.14 November 2035 I-44-A Variable $ 8,110,398.11 November 2035 I-44-B Variable $ 8,110,398.11 November 2035 I-45-A Variable $ 7,674,655.39 November 2035 I-45-B Variable $ 7,674,655.39 November 2035 I-46-B Variable $ 7,263,599.86 November 2035 I-47-A Variable $ 6,875,789.56 November 2035 I-47-B Variable $ 6,875,789.56 November 2035 I-48-A Variable $ 6,509,868.05 November 2035 I-48-B Variable $ 6,509,868.05 November 2035 I-49-A Variable $ 6,164,559.40 November 2035 I-49-B Variable $ 6,164,559.40 November 2035 I-50-A Variable $ 5,838,663.38 November 2035 I-50-B Variable $ 5,838,663.38 November 2035 I-51-A Variable $ 5,531,050.81 November 2035 I-51-B Variable $ 5,531,050.81 November 2035 I-52-A Variable $ 5,240,659.47 November 2035 I-52-B Variable $ 5,240,659.47 November 2035 I-53-A Variable $ 104,532,091.24 November 2035 I-53-B Variable $ 104,532,091.24 November 2035

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the DSLA Mortgage Loan Trust 2005-AR5 DSLA Mortgage Pass-Through Certificates, Series 2005-AR5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of sixteen classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 2-A1A Certificates, (iv) the Class 2-A1B Certificates, (v) the Class X-1 Certificates, (vi) the Class X-2 Certificates, (vii) the Class PO Certificates (viii) the Class A-R Certificate, (ix) the Class B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates, (xv) the Class B-7 Certificates and (xvi) the Class A-R-II Certificate. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes will be treated as two separate comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the "Upper-Tier REMIC" and alternative, the "“Lower-Tier REMIC," respectively, ” the “Middle-Tier REMIC,” and each, a "the “Upper-Tier REMIC"”). The Senior Certificates (Each Certificate, other than the Class CBA-IOR and Class A-R-II Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class SES1-A1A, Class 1-A1B, Class 2-A1A, Class 2-A1B, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6, and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls. The Class X-2 Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R, Class 1R Certificate represents the ownership of the sole residual interest in each of the Middle-A-LR Tier REMIC and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1A-PO Component, Class 1R-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, II Certificate represents ownership of the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the UpperLower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests in the Lower-Tier REMIC, other than the Class 1LT-AR Interest, and each such Lower-LR Certificate shall be the "residual interest" Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Certificates and Upper-Tier REMIC shall hold as assets the Uncertificated Loweruncertificated Middle-Tier Interests will represent in the entire beneficial ownership Middle-Tier REMIC, other than the Class MT-R Interest, and each such Middle-Tier Interest is hereby designated as a regular interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Middle-Tier REMIC.

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES15-IO, Class 15-PO, Class X-PO, Class 1-A-R, R and Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 415-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 24-SES IO Component, Class 35-IO Component, Class 1-X-PO Component, Class 2-X-PO Component, Class 3-SES X-PO Component, Class 4-X-PO Component, and Class 5-X-PO Component, Class 4-SES 15-PO Component and Class 5-15-PO Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):): Initial Class Integral Certificate Pass- Multiples Balance or Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------- ----------------- ------- ------------ ---------- Class 1-A-1 $145,430,000.00 6.000% $1,000 $1 Class 1-A-R $50.00 6.000% $50 N/A Class 1-A-LR $50.00 6.000% $50 N/A Class 2-A-1 $105,495,000.00 6.000% $1,000 $1 Class 2-A-2 $1,066,000.00 6.000% $1,000 $1 Class CB-IO $8,068,501.00(1) (1) $1,000,000 $1 Class 3-A-1 $5,228,000.00 6.000% $1,000 $1 Class 3-A-2 $38,861,000.00 6.000% $1,000 $1 Class 3-A-3 $2,120,000.00 6.000% $1,000 $1 Class 3-A-4 $2,120,000.00 6.000% $1,000 $1 Class 3-IO $956,431.00 6.000% $956,431 N/A Class 4-A-1 $34,348,000.00 5.000% $1,000 $1 Class 5-A-1 $54,305,000.00 5.500% $1,000 $1 Class 15-IO $2,876,449.00(2) (2) $1,000,000 $1 Class 15-PO $947,416.00(3) (3) $25,000 $1 Class X-PO $4,719,787.00(4) (4) $25,000 $1 Class 30-B-1 $6,744,000.00 6.000% $25,000 $1 Class 30-B-2 $3,210,000.00 6.000% $25,000 $1 Class 30-B-3 $1,927,000.00 6.000% $25,000 $1 Class 30-B-4 $1,766,000.00 6.000% $25,000 $1 Class 30-B-5 $1,444,000.00 6.000% $25,000 $1 Class 30-B-6 $964,206.00 6.000% $25,000 $1 Class 15-B-1 $2,420,000.00 (5) $25,000 $1 Class 15-B-2 $279,000.00 (5) $25,000 $1 Class 15-B-3 $279,000.00 (5) $25,000 $1 Class 15-B-4 $187,000.00 (5) $25,000 $1 Class 15-B-5 $93,000.00 (5) $25,000 $1 Class 15-B-6 $186,199.00 (5) $25,000 $1 Integral Initial Component Pass- Multiples Balance or Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ------------- ----------------- ------- ------------ ---------- Class 1-IO $4,872,703.63 6.000% N/A N/A Class 2-IO $3,195,797.72 6.000% N/A N/A Class 4-IO $803,505.75 5.000% N/A N/A Class 5-IO $2,072,944.12 5.000% N/A N/A Class 1-X-PO $2,108,136.00 (6) N/A N/A Class 2-X-PO $1,254,580.00 (6) N/A N/A Class 3-X-PO $1,337,071.00 (6) N/A N/A Class 4-X-PO $10,000.00 (6) N/A N/A Class 5-X-PO $10,000.00 (6) N/A N/A Class 4-15-PO $736,801.00 (6) N/A N/A Class 5-15-PO $210,615.00 (6) N/A N/A

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2007-7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of seventeen classes of certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class 2A-1A Certificates, (iii) the Class 2A-1B Certificates, (iv) the Class 2A-1C Certificates, (v) the Class B-1 Certificates, (vi) the Class B-2 Certificates, (vii) Class B-3 Certificates, (viii) the Class B-4 Certificates, (ix) the Class B-5 Certificates, (x) the Class B-6 Certificates, (xi) the Class B-7 Certificates, (xii) the Class B-8 Certificates, (xiii) the Class B-9 Certificates, (xiv) the Class C Certificates, (xv) the Class P Certificates, (xvi) the Class R Certificates, (xvii) the Class LT-R Certificates and (xviii) the Class ES Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Basis Risk Reserve Fund, the Basis Risk Cap Agreement, the Basis Risk Cap Replacement Receipts Account, the Basis Risk Cap Account, the Basis Risk Cap Amount, the Class ES Distributable Amount, the Swap Agreement, the Swap Account, the Swap Amount, the Swap Replacement Receipts Account, the Swap Termination Receipts Account, the Supplemental Interest Trust, the Collateral Account, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the "Upper-Tier REMIC" and “Excluded Trust Property”)) comprises four REMICs in a tiered REMIC structure: the "“Lower-Tier REMIC," respectively” the “Middle-Tier REMIC 1,” the “Middle-Tier REMIC 2,” and the “Upper-Tier REMIC.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1LT-A-LR R and Class PO ES Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, as provided in section 5.01(g), (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07, (iii) payments in respect of Basis Risk Shortfalls from the Basis Risk Cap Account as provided in Section 5.01(j), (iii) payments in respect of Basis Risk Shortfalls from the Supplemental Interest Trust as provided in Section 5.01(k), and (iv) the obligation to pay Class I Shortfalls. The owners of the Class C Certificates beneficially own the Basis Risk Reserve Fund, the Basis Risk Cap Account, the Supplemental Interest Trust, the Swap Account, the Final Maturity Reserve Account, and the Final Maturity Reserve Trust. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, R Certificate represents the "Components") shall also constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC, the Middle-Tier REMIC 1 and the Middle-Tier REMIC 2. The Uncertificated LowerClass LT-Tier Interests shall constitute R Certificate represents ownership of the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Upper Tier REMIC shall hold as its assets the uncertificated interests in the Middle-Tier REMIC 2 other than the Class 1-ALT-R Certificate shall be and other than the "residual interest" in the UpperClass MT2-R interest (each, a “Middle-Tier REMIC 2 Regular Interest”), and each such Middle-Tier REMIC 2 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 2 for purposes of the REMIC Provisions. Middle-Tier REMIC 2 shall hold as its assets the uncertificated interests in Middle-Tier REMIC 1 other than the Class MT1-R interest (each a “Middle-Tier REMIC 1 Regular Interest”), and each such Middle-Tier REMIC 1 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 1. Middle-ATier REMIC 1 shall hold as its assets the uncertificated interests in the Lower-LR Certificate shall be Tier REMIC (each a “Lower-Tier REMIC Regular Interest”) and one residual interest in the "residual interest" Lower-Tier REMIC (the “LT-R Interest”). Each such Lower-Tier REMIC Regular Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent REMIC shall hold as its assets the entire beneficial ownership interest property of the Trust Fund other than the Excluded Trust Property and the interests in the Trustany other REMIC created hereby. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics (or describes) the designation, interest rate, and initial principal balance of the Certificates each Lower-Tier REMIC Regular Interests and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable Class LT-R Certificate: LT-Initial (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $ 1,577,396,956.28 LT-C (3) (3) LT-I (4) (4) LT-R (5) (5)

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of nineteen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) Class II-A-3 Certificates, (v) the Class X-1 Certificates, (vi) the Class X-2 Certificates, (vii) the Class M-1 Certificates (viii) the Class M-2 Certificates, (ix) the Class M-3 Certificates, (x) the Class M-4 Certificates, (xi) the Class M-5 Certificates, (xii) the Class M-6 Certificates, (xiii) the Class M-7 Certificates, (xiv) the Class M-8 Certificates, (xv) the Class M-9 Certificates, (xvi) the Class C Certificates, (xvii) the Class P Certificates, (xviii) the Class R Certificates and (xix) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Swap Account, any Servicer Prepayment Charge Payment Amounts, the Interest Coverage Account, the Supplemental Interest Trust, the Cap Trust, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, the Interest Rate Swap Agreement and the Basis Risk Cap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. I Variable(2) $ 36,129,153.56 September 25, 2037 I-1-B Variable(2) $ 2,980,509.38 September 25, 2037 I-2-B Variable(2) $ 2,919,426.57 September 25, 2037 I-3-B Variable(2) $ 2,874,056.90 September 25, 2037 I-4-B Variable(2) $ 2,800,689.88 September 25, 2037 I-5-B Variable(2) $ 2,743,297.53 September 25, 2037 I-6-B Variable(2) $ 2,724,509.42 September 25, 2037 I-7-B Variable(2) $ 2,729,589.27 September 25, 2037 I-8-B Variable(2) $ 2,657,331.94 September 25, 2037 I-9-B Variable(2) $ 2,853,113.75 September 25, 2037 I-10-B Variable(2) $ 3,003,565.49 September 25, 2037 I-11-B Variable(2) $ 6,395,638.60 September 25, 2037 I-12-B Variable(2) $ 30,812,323.62 September 25, 2037 I-13-B Variable(2) $ 39,481,406.02 September 25, 2037 I-14-B Variable(2) $ 1,604,016.32 September 25, 2037 I-15-B Variable(2) $ 1,482,574.27 September 25, 2037 I-16-B Variable(2) $ 1,246,009.26 September 25, 2037 I-17-B Variable(2) $ 793,343.04 September 25, 2037 I-18-B Variable(2) $ 774,583.80 September 25, 2037 I-19-B Variable(2) $ 756,304.75 September 25, 2037 I-20-B Variable(2) $ 738,488.56 September 25, 2037 I-21-B Variable(2) $ 721,126.14 September 25, 2037 I-23-B Variable(2) $ 824,412.89 September 25, 2037 I-24-B Variable(2) $ 1,212,164.76 September 25, 2037 I-25-B Variable(2) $ 4,676,334.31 September 25, 2037 I-26-A Variable(2) $ 494,308.31 September 25, 2037 I-26-B Variable(2) $ 494,308.31 September 25, 2037 I-27-A Variable(2) $ 483,959.66 September 25, 2037 I-27-B Variable(2) $ 483,959.66 September 25, 2037 I-28-B Variable(2) $ 473,842.86 September 25, 2037 I-29-A Variable(2) $ 463,954.60 September 25, 2037 I-29-B Variable(2) $ 463,954.60 September 25, 2037 I-30-B Variable(2) $ 454,285.80 September 25, 2037 I-32-B Variable(2) $ 435,594.23 September 25, 2037 I-33-A Variable(2) $ 426,559.89 September 25, 2037 I-33-B Variable(2) $ 426,559.89 September 25, 2037 I-34-A Variable(2) $ 417,726.05 September 25, 2037 I-34-B Variable(2) $ 417,726.05 September 25, 2037 I-35-B Variable(2) $ 409,088.57 September 25, 2037 I-36-B Variable(2) $ 400,641.67 September 25, 2037 I-38-B Variable(2) $ 384,303.97 September 25, 2037 I-39-A Variable(2) $ 376,404.91 September 25, 2037 I-39-B Variable(2) $ 376,404.91 September 25, 2037 I-40-A Variable(2) $ 368,679.12 September 25, 2037 I-40-B Variable(2) $ 368,679.12 September 25, 2037 I-41-A Variable(2) $ 361,122.45 September 25, 2037 I-41-B Variable(2) $ 361,122.45 September 25, 2037 I-42-A Variable(2) $ 353,730.80 September 25, 2037 I-42-B Variable(2) $ 353,730.80 September 25, 2037 I-43-A Variable(2) $ 346,502.51 September 25, 2037 I-43-B Variable(2) $ 346,502.51 September 25, 2037 I-44-A Variable(2) $ 339,430.16 September 25, 2037 I-44-B Variable(2) $ 339,430.16 September 25, 2037 I-45-A Variable(2) $ 340,855.85 September 25, 2037 I-45-B Variable(2) $ 340,855.85 September 25, 2037 I-47-A Variable(2) $ 424,391.65 September 25, 2037 I-47-B Variable(2) $ 424,391.65 September 25, 2037 I-48-B Variable(2) $ 1,147,089.52 September 25, 2037 I-49-A Variable(2) $ 1,239,006.21 September 25, 2037 I-49-B Variable(2) $ 1,239,006.21 September 25, 2037 I-50-A Variable(2) $ 241,111.88 September 25, 2037 I-50-B Variable(2) $ 241,111.88 September 25, 2037 I-51-A Variable(2) $ 13,255,744.98 September 25, 2037 I-51-B Variable(2) $ 13,255,744.98 September 25, 2037 II Variable(2) $ 18,608,514.63 September 25, 2037 II-1-A Variable(2) $ 1,535,123.12 September 25, 2037 II-1-B Variable(2) $ 1,535,123.12 September 25, 2037 II-2-B Variable(2) $ 1,503,662.18 September 25, 2037 II-3-A Variable(2) $ 1,480,294.35 September 25, 2037 II-3-B Variable(2) $ 1,480,294.35 September 25, 2037 II-4-A Variable(2) $ 1,442,506.37 September 25, 2037 II-4-B Variable(2) $ 1,442,506.37 September 25, 2037 II-5-A Variable(2) $ 1,412,946.22 September 25, 2037 II-5-B Variable(2) $ 1,412,946.22 September 25, 2037 II-6-A Variable(2) $ 1,403,269.33 September 25, 2037 II-6-B Variable(2) $ 1,403,269.33 September 25, 2037 II-7-A Variable(2) $ 1,405,885.73 September 25, 2037 II-7-B Variable(2) $ 1,405,885.73 September 25, 2037 II-8-A Variable(2) $ 1,368,669.31 September 25, 2037 II-8-B Variable(2) $ 1,368,669.31 September 25, 2037 II-9-A Variable(2) $ 1,469,507.50 September 25, 2037 II-9-B Variable(2) $ 1,469,507.50 September 25, 2037 II-10-B Variable(2) $ 1,546,998.26 September 25, 2037 II-11-A Variable(2) $ 3,294,098.90 September 25, 2037 II-11-B Variable(2) $ 3,294,098.90 September 25, 2037 II-12-A Variable(2) $ 15,870,008.88 September 25, 2037 II-12-B Variable(2) $ 15,870,008.88 September 25, 2037 II-13-A Variable(2) $ 20,335,053.98 September 25, 2037 II-13-B Variable(2) $ 20,335,053.98 September 25, 2037 II-14-A Variable(2) $ 826,154.93 September 25, 2037 II-14-B Variable(2) $ 826,154.93 September 25, 2037 II-15-A Variable(2) $ 763,605.73 September 25, 2037 II-15-B Variable(2) $ 763,605.73 September 25, 2037 II-16-A Variable(2) $ 641,761.99 September 25, 2037 II-16-B Variable(2) $ 641,761.99 September 25, 2037 II-17-B Variable(2) $ 408,614.46 September 25, 2037 II-18-A Variable(2) $ 398,952.45 September 25, 2037 II-18-B Variable(2) $ 398,952.45 September 25, 2037 II-19-A Variable(2) $ 389,537.75 September 25, 2037 II-19-B Variable(2) $ 389,537.75 September 25, 2037 II-20-A Variable(2) $ 380,361.44 September 25, 2037 II-20-B Variable(2) $ 380,361.44 September 25, 2037 II-21-A Variable(2) $ 371,418.86 September 25, 2037 II-21-B Variable(2) $ 371,418.86 September 25, 2037 II-22-B Variable(2) $ 362,702.78 September 25, 2037 II-23-B Variable(2) $ 424,617.11 September 25, 2037 II-24-A Variable(2) $ 624,330.24 September 25, 2037 II-24-B Variable(2) $ 624,330.24 September 25, 2037 II-25-A Variable(2) $ 2,408,564.44 September 25, 2037 II-25-B Variable(2) $ 2,408,564.44 September 25, 2037 II-26-A Variable(2) $ 254,595.44 September 25, 2037 II-26-B Variable(2) $ 254,595.44 September 25, 2037 II-27-A Variable(2) $ 249,265.34 September 25, 2037 II-27-B Variable(2) $ 249,265.34 September 25, 2037 II-28-A Variable(2) $ 244,054.64 September 25, 2037 II-28-B Variable(2) $ 244,054.64 September 25, 2037 II-29-A Variable(2) $ 238,961.65 September 25, 2037 II-29-B Variable(2) $ 238,961.65 September 25, 2037 II-30-A Variable(2) $ 233,981.70 September 25, 2037 II-30-B Variable(2) $ 233,981.70 September 25, 2037 II-31-B Variable(2) $ 229,114.35 September 25, 2037 II-32-A Variable(2) $ 224,354.52 September 25, 2037 II-32-B Variable(2) $ 224,354.52 September 25, 2037 II-33-A Variable(2) $ 219,701.36 September 25, 2037 II-33-B Variable(2) $ 219,701.36 September 25, 2037 II-34-A Variable(2) $ 215,151.45 September 25, 2037 II-34-B Variable(2) $ 215,151.45 September 25, 2037 II-35-A Variable(2) $ 210,702.68 September 25, 2037 II-35-B Variable(2) $ 210,702.68 September 25, 2037 II-36-B Variable(2) $ 206,352.08 September 25, 2037 II-37-B Variable(2) $ 202,097.93 September 25, 2037 I-38-A Variable(2) $ 197,937.28 September 25, 2037 II-38-B Variable(2) $ 197,937.28 September 25, 2037 II-39-A Variable(2) $ 193,868.84 September 25, 2037 II-39-B Variable(2) $ 193,868.84 September 25, 2037 II-40-A Variable(2) $ 189,889.63 September 25, 2037 II-40-B Variable(2) $ 189,889.63 September 25, 2037 II-41-A Variable(2) $ 185,997.55 September 25, 2037 II-41-B Variable(2) $ 185,997.55 September 25, 2037 II-42-A Variable(2) $ 182,190.45 September 25, 2037 II-42-B Variable(2) $ 182,190.45 September 25, 2037 II-43-A Variable(2) $ 178,467.49 September 25, 2037 II-43-B Variable(2) $ 178,467.49 September 25, 2037 II-44-A Variable(2) $ 174,824.84 September 25, 2037 II-44-B Variable(2) $ 174,824.84 September 25, 2037 II-45-A Variable(2) $ 175,559.15 September 25, 2037 II-45-B Variable(2) $ 175,559.15 September 25, 2037 II-47-A Variable(2) $ 218,584.60 September 25, 2037 II-47-B Variable(2) $ 218,584.60 September 25, 2037 II-48-A Variable(2) $ 590,812.98 September 25, 2037 II-48-B Variable(2) $ 590,812.98 September 25, 2037 II-49-A Variable(2) $ 638,155.04 September 25, 2037 II-49-B Variable(2) $ 638,155.04 September 25, 2037 II-50-A Variable(2) $ 124,185.62 September 25, 2037 II-50-B Variable(2) $ 124,185.62 September 25, 2037 II-51-A Variable(2) $ 6,827,423.77 September 25, 2037 II-51-B Variable(2) $ 6,827,423.77 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 ________________

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the DSLA Mortgage Loan Trust 2006-AR1 Mortgage Loan Pass-Through Certificates, Series 2006-AR1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class 1A-1B Certificates, (iii) the Class 2A-1A Certificates, (iv) the Class 2A-1B Certificate, (v) the Class 2A-1C Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class R Certificates, (xvii) the Class R-II Certificates, (xviii) the Class C Certificates and (xix) the Class P Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund (the "Upper-Tier REMIC" and “Excluded Trust Property”)) comprises two REMICs in a tiered REMIC structure – the "“Lower-Tier REMIC," respectively” and the “Upper Tier REMIC”. Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR R and Class PO R-II Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. In addition, the Offered Certificates and the Class M-10 Certficates represent the right to receive payments in respect of Basis Risk Shortfalls as provided in Section 5.08. The owners of the Class C Certificates beneficially own the Basis Risk Reserve Fund. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be represents the "sole class of residual interest" interest in the Upper-Tier REMIC and the Class 1R-A-LR II Certificate shall be represents the "sole class of residual interest" interest in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the entire beneficial ownership interest regular interests in the TrustLower-Tier REMIC) and the Class R-II Certificate (which represents the sole class of residual interests in the Lower-Tier REMIC. The "latest possible maturity date" for federal income tax Trustee will hold the Lower-Tier Regular Interests as assets of the Upper-Tier REMIC. For purposes of all the REMIC Provisions, the startup day for the Lower-Tier REMIC and the Upper-Tier REMIC is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of (or describes) the Certificates designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate initial principal balance of each Class Lower-Tier Interest in the Lower-Tier REMIC, each of Certificates may be issued which (other than the R-II Certificate) is hereby designated as a regular interest in any amount in excess of the minimum denomination):Lower-Tier REMIC (the “Lower-Tier REMIC Regular Interests). LT-1A1A (1) (2) 1A-1A LT-1A1B (1) (2) 1A-1B LT-2A1A (1) (2) 2A-1A LT-2A1B (1) (2) ▇▇-▇▇ ▇▇-▇▇▇▇ (1) (2) 2A-1C LT-M1 (1) (2) M1 LT-M2 (1) (2) M2 LT-M3 (1) (2) M3 LT-M4 (1) (2) M4 LT-M5 (1) (2) M5 LT-M6 (1) (2) M6 LT-M7 (1) (2) M7 LT-M8 (1) (2) M8 LT-M9 (1) (2) M9 LT-M10 (1) (2) ▇▇▇ ▇▇-▇ (1) (3) N/A R-II Certificate (4) (4) N/A

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the Luminent Mortgage Trust 2006-2’s Mortgage Pass-Through Certificates, Series 2006-2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of twelve classes of certificates, designated as (i) the Class A1A Certificates, (ii) the Class A1B Certificates, (iii) the Class A1C Certificates, (iv) the Class X Certificates, (v) the Class PO Certificates, (vi) the Class A-R Certificates, (vii) the Class B-1 Certificates, (viii) the Class B-2 Certificates, (ix) the Class B-3 Certificates, (x) the Class B-4 Certificates, (xi) the Class B-5 Certificates and (xii) the Class B-6 Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund (the “Excluded Trust Property”)) be treated for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “REMIC” or, in the "alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"”). The Senior Certificates (Each Certificate, other than the Class CB-IO, Class SES, Class 1-A-RR Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07. The owners of the Class 1-X Certificates beneficially own the Basis Risk Reserve Fund. The Class A-LR R Certificate represents ownership of the sole class of residual interest in each of the Lower-Tier REMIC and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests REMIC shall constitute hold as assets all property of the "regular interests" in Trust Fund, other than the Excluded Trust Property and the Lower-Tier REMICREMIC Interests. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and shall hold as assets the Class 1-A-LR Certificate shall be the "residual interest" in the uncertificated Lower-Tier REMICInterests, other than the Class LT-R Interest. The Certificates and the Uncertificated Each such Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created Interest is hereby will be the designated as a REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):regular interest.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2006-1 Mortgage Loan Pass-Through Certificates, Series 2006-1 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of twenty-three classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 2-A1A Certificates, (iv) the Class 2-A1B Certificates, (v) the Class 2-A1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2A1B Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2A1B Certificates, (x) the Class A-R Certificates, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class B-7 Certificates, (xviii) the Class B-8 Certificates, (xix) the Class B-9 Certificates, (xx) the Class B-10 Certificates, (xxi) the Class B-11 Certificates, (xxii) the Class B-12 Certificates and (xxiii) the Class A-R-II Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R and Class A-R-II Certificates, shall represent ownership of all interests created hereby will be a regular interest in the REMIC Certificate Maturity DateUpper-Tier REMIC, as described herein. In addition, the MTA and LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07. The following table sets forth characteristics owners of the Class X-1 and Class X-2A1B Certificates beneficially own the Basis Risk Reserve Fund. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Class A-R Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess represent ownership of the minimum denomination):sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund, other than the Excluded Trust Property and the Lower-Tier REMIC Interests and the Middle-Tier REMIC Interests. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class A-4 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class M-4 Certificates, (ix) the Class M-5 Certificates, (x) the Class M-6 Certificates, (xi) the Class M-7 Certificates, (xii) the Class M-8 Certificates, (xiii) the Class M-9 Certificates, (xiv) the Class M-10 Certificates, (xv) the Class B-1 Certificates, (xvi) the Class B-2 Certificates, (xvii) the Class B-3 Certificates, (xviii) the Class C Certificates, (xix) the Class P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Cap Contract, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 186,096,599.99 March 25, 2036 I-1-B Variable(2) $ 10,939,343.75 March 25, 2036 I-4-B Variable(2) $ 11,505,936.25 March 25, 2036 I-5-B Variable(2) $ 11,618,112.50 March 25, 2036 I-6-B Variable(2) $ 11,809,545.00 March 25, 2036 I-8-B Variable(2) $ 12,276,161.25 March 25, 2036 I-9-A Variable(2) $ 42,006,962.50 March 25, 2036 I-9-B Variable(2) $ 42,006,962.50 March 25, 2036 I-10-A Variable(2) $ 100,564,707.50 March 25, 2036 I-10-B Variable(2) $ 100,564,707.50 March 25, 2036 I-11-A Variable(2) $ 19,827,321.25 March 25, 2036 I-11-B Variable(2) $ 19,827,321.25 March 25, 2036 I-12-B Variable(2) $ 2,450,530.00 March 25, 2036 I-13-B Variable(2) $ 2,338,713.75 March 25, 2036 I-14-B Variable(2) $ 2,232,358.75 March 25, 2036 I-15-B Variable(2) $ 2,131,183.75 March 25, 2036 I-16-B Variable(2) $ 2,034,917.50 March 25, 2036 I-17-B Variable(2) $ 1,943,306.25 March 25, 2036 I-18-A Variable(2) $ 1,856,112.50 March 25, 2036 I-18-B Variable(2) $ 1,856,112.50 March 25, 2036 I-19-B Variable(2) $ 1,773,107.50 March 25, 2036 I-20-B Variable(2) $ 2,896,131.25 March 25, 2036 I-21-A Variable(2) $ 6,745,461.25 March 25, 2036 I-21-B Variable(2) $ 6,745,461.25 March 25, 2036 I-22-B Variable(2) $ 1,739,076.25 March 25, 2036 I-23-B Variable(2) $ 1,221,613.75 March 25, 2036 I-24-B Variable(2) $ 1,033,476.25 March 25, 2036 I-25-B Variable(2) $ 994,543.75 March 25, 2036 I-26-A Variable(2) $ 957,122.50 March 25, 2036 I-26-B Variable(2) $ 957,122.50 March 25, 2036 I-27-A Variable(2) $ 921,148.75 March 25, 2036 I-27-B Variable(2) $ 921,148.75 March 25, 2036 I-28-B Variable(2) $ 886,565.00 March 25, 2036 I-29-A Variable(2) $ 853,316.25 March 25, 2036 I-29-B Variable(2) $ 853,316.25 March 25, 2036 I-30-A Variable(2) $ 821,346.25 March 25, 2036 I-30-B Variable(2) $ 821,346.25 March 25, 2036 I-31-B Variable(2) $ 790,606.25 March 25, 2036 I-32-A Variable(2) $ 761,043.75 March 25, 2036 I-32-B Variable(2) $ 761,043.75 March 25, 2036 I-33-A Variable(2) $ 732,615.00 March 25, 2036 I-33-B Variable(2) $ 732,615.00 March 25, 2036 I-34-B Variable(2) $ 705,273.75 March 25, 2036 I-35-A Variable(2) $ 678,976.25 March 25, 2036 I-35-B Variable(2) $ 678,976.25 March 25, 2036 I-36-A Variable(2) $ 653,681.25 March 25, 2036 I-36-B Variable(2) $ 653,681.25 March 25, 2036 I-37-B Variable(2) $ 629,350.00 March 25, 2036 I-38-A Variable(2) $ 605,941.25 March 25, 2036 I-38-B Variable(2) $ 605,941.25 March 25, 2036 I-39-A Variable(2) $ 15,833,661.25 March 25, 2036 I-39-B Variable(2) $ 15,833,661.25 March 25, 2036 P Variable(2) $ 100.00 March 25, 2036 ________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the RBSGC Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2007-A (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund created hereunder. The Trust Estate for Certificates will consist of 20 classes of certificates, designated as (i) the Class 1-A-1 Certificates, (ii) the Class 2-A-1 Certificates, (iii) the Class 2-A-2 Certificates, (iv) the Class 2-A-3 Certificates, (v) the Class 2-A-4 Certificates, (vi) the Class 2-A-5 Certificates, (vi) the Class 3-A-1 Certificates, (vii) the Class 3-A-2 Certificates, (viii) the Class X Certificates, (ix) the Class PO Certificates, (x) the Class B-1 Certificates, (xi) the Class B-2 Certificates, (xii) the Class B-3 Certificates, (xiii) the Class B-4 Certificates, (xiv) the Class B-5 Certificates, (xv) the Class B-6 Certificates, (xvi) the Class B-7 Certificates, (xvii) the Class P Certificates and (xviii) the Class LT-R Certificates and (xviii) the Class R Certificates. For federal income tax purposes will be treated as purposes, the Trust Fund comprises two separate real estate mortgage investment conduits (REMICs in a tiered REMIC structure: the "Upper-Tier REMIC" and the "“Lower-Tier REMIC," respectively” and the “Upper-Tier REMIC.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR R and Class PO LT-R Certificates), shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. The Class 30-B Certificates and R Certificate represents the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1LT-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, R Certificate represents ownership of the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" sole class of residual interest in the Lower-Tier REMIC. The Class 1Lower-A-R Certificate Tier REMIC will hold as its assets all of the assets constituting the Trust Fund and will issue nine uncertificated interests, eight of which shall be the "residual interest" in the Upper“Lower-Tier REMIC Regular Interests” and one residual interest (the Class 1“LT-A-LR Certificate shall R Interest”), which will be the "residual interest" interest in the Lower-Tier REMIC. The Certificates and Upper-Tier REMIC will hold as its assets all of the Uncertificated Lower-Tier Regular Interests will represent and shall issue the entire beneficial ownership interest in the TrustCertificates. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics (or describes) the designation, interest rate, and initial principal balance of the Certificates each Lower-Tier Regular Interest and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable LT-R Interest: LT-SG1 6.00 % $ 41,4506,654.47 Subgroup 1 LT-SUB1 6.00 % $ 29,306.54 Subgroup 1 ▇▇-▇▇▇ 0.00 % $ 415,593.00 Subgroup 1 LT-SG2 6.25 % $ 215,222,394.63 Subgroup 2 LT-SUB2 6.25 % $ 150,760.55 Subgroup 2 LT-SG3 7.00 % $ 223,266,770.01 Subgroup 3 LT-SUB3 7.00 % $ 156,401.72 Subgroup 3 LT-X3 (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1 ) (2 ) Subgroup 3 LT-P 0.00 % $ 100.00 LT-R (3 ) (3 ) N/A

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty- one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II-A4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class B Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R-CX Certificates and (xxi) the Class R-PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Account, the Interest Coverage Account and the Master Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $59,668,893.53 ▇▇▇▇▇▇▇▇▇ ▇/▇ ▇▇▇▇, ▇▇▇▇ I-8-B 7,913,220.85 Variable2 June, 2046 I-20-B 74,281,182.99 Variable2 June, 2046 I-28-B 915,709.21 Variable2 June, 2046 I-29-A 530,669.05 Variable2 October 2008 June, 2046 I-29-B 530,669.05 Variable2 June, 2046 I-30-B 518,140.59 Variable2 June, 2046 I-33-A 691,838.99 Variable2 May 2009 June, 2046 I-33-B 691,838.99 Variable2 June, 2046 I-34-B 108,619.57 Variable2 June, 2046 I-38-B 1,437,249.53 Variable2 June, 2046 I-45-B 1,292,140.21 Variable2 June, 2046 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 I-49-B 1,074,461.33 Variable2 June, 2046 I-50-A 989,074.53 Variable2 November 2010 June, 2046 I-50-B 989,074.53 Variable2 June, 2046 I-51-A 918,007.93 Variable2 December 2010 June, 2046 I-51-B 918,007.93 Variable2 June, 2046 I-52-A 860,908.47 Variable2 January 2011 June, 2046 I-52-B 860,908.47 Variable2 June, 2046 I-53-B 796,330.13 Variable2 June, 2046 I-54-B 725,616.40 Variable2 June, 2046 I-55-B 13,183,513.10 Variable2 June, 2046 IIX3 101,397,378.87 Variable2 N/A June, 2046 II-1-B 5,925,408.83 Variable2 June, 2046 II-3-B 7,902,959.38 Variable2 June, 2046 II-5-B 9,799,062.48 Variable2 June, 2046 II-6-B 11,000,053.37 Variable2 June, 2046 II-7-B 12,159,347.11 Variable2 June, 2046 II-8-B 13,447,205.15 Variable2 June, 2046 II-9-B 15,034,657.30 Variable2 June, 2046 II-12-B 19,995,625.80 Variable2 June, 2046 II-13-A 18,657,337.03 Variable2 June 2007 June, 2046 II-13-B 18,657,337.03 Variable2 June, 2046 II-14-B 17,451,745.47 Variable2 June, 2046 II-15-B 16,362,003.75 Variable2 June, 2046 II-16-B 14,642,698.28 Variable2 June, 2046 II-17-B 13,458,736.72 Variable2 June, 2046 II-18-B 12,325,854.94 Variable2 June, 2046 II-19-B 11,310,406.60 Variable2 June, 2046 II-20-B 126,228,539.01 Variable2 June, 2046 II-21-B 11,046,964.05 Variable2 June, 2046 II-24-B 3,665,791.46 Variable2 June, 2046 II-25-B 3,454,743.48 Variable2 June, 2046 II-26-B 3,123,423.80 Variable2 June, 2046 II-27-B 2,111,639.37 Variable2 June, 2046 II-28-B 1,556,095.79 Variable2 June, 2046 II-29-A 901,783.95 Variable2 October 2008 June, 2046 II-29-B 901,783.95 Variable2 June, 2046 II-30-A 880,493.91 Variable2 November 2008 June, 2046 II-30-B 880,493.91 Variable2 June, 2046 II-33-B 1,175,665.51 Variable2 June, 2046 II-34-A 184,580.93 Variable2 July 2009 June, 2046 II-34-B 184,580.93 Variable2 June, 2046 II-35-B 3,094,912.01 Variable2 June, 2046 II-36-B 2,905,460.66 Variable2 June, 2046 II-37-B 2,586,402.18 Variable2 June, 2046 II-38-A 2,442,366.97 Variable2 November 2009 June, 2046 II-38-B 2,442,366.97 Variable2 June, 2046 II-39-A 2,713,383.19 Variable2 December 2009 June, 2046 II-39-B 2,713,383.19 Variable2 June, 2046 II-40-B 2,719,319.42 Variable2 June, 2046 II-41-A 2,634,253.69 Variable2 February 2010 June, 2046 II-41-B 2,634,253.69 Variable2 June, 2046 II-42-A 2,551,109.63 Variable2 March 2010 June, 2046 II-42-B 2,551,109.63 Variable2 June, 2046 II-43-B 2,453,294.50 Variable2 June, 2046 II-44-A 2,308,777.70 Variable2 May 2010 June, 2046 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1A Pass-Through Rate Rate Change Date Assumed Final Maturity Date1 II-44-B 2,308,777.70 Variable2 June, 2046 II-45-A 2,195,777.79 Variable2 June 2010 June, 2046 II-45-B 2,195,777.79 Variable2 June, 2046 II-47-B 1,899,292.03 Variable2 June, 2046 II-48-B 1,806,749.27 Variable2 June, 2046 II-50-B 1,680,767.97 Variable2 June, 2046 II-51-B 1,560,002.07 Variable2 June, 2046 II-52-B 1,462,971.03 Variable2 June, 2046 II-55-A 22,403,191.90 Variable2 April 2011 June, 2046 II-55-B 22,403,191.90 Variable2 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Account, the Interest Coverage Account, and the Master Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R-2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Certificates and REMIC 2 Regular Interests. None of the ComponentsREMIC 2 Regular Interests will be certificated. Initial Uncertificated Assumed Final Designation Principal Balance Rate Maturity Date1 AA $854,460,105.86 Variable2 June, together 2046 A-IA 2,569,505.00 Variable2 June, 2046 A-IIA1 1,815,495.00 Variable2 June, 2046 A-IIA2 846,335.00 Variable2 June, 2046 A-IIA3 1,460,820.00 Variable2 June, 2046 A-IIA4 243,795.00 Variable2 June, 2046 M1 292,085.00 Variable2 June, 2046 M2 270,290.00 Variable2 June, 2046 M3 165,660.00 Variable2 June, 2046 M4 148,225.00 Variable2 June, 2046 M5 143,865.00 Variable2 June, 2046 M6 135,145.00 Variable2 June, 2046 M7 126,425.00 Variable2 June, 2046 M8 82,830.00 Variable2 June, 2046 M9 74,110.00 Variable2 June, 2046 M10 74,110.00 Variable2 June, 2046 B 87,190.00 Variable2 June, 2046 ZZ 8,902,076.34 Variable2 June, 2046 1GRP 64,600.98 Variable2 June, 2046 1SUB 13,210.88 Variable2 June, 2046 2GRP 109,778.64 Variable2 June, 2046 2SUB 22,449.74 Variable2 June, 2046 Swap IO FMR IO N/A3 N/A4 Variable2 Variable2 June, 2046 June, 2046 XX N/A4 Variable2 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the minimum denominations and integral multiples latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in excess thereof in which accordance with the Classes definition of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):“Uncertificated REMIC 2 Pass-Through Rate” herein.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "ComponentsCertificates") shall also constitute "regular interests" ), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The Certificates will consist of twenty-two classes of certificates, designated as (i) the Class A-1A1 Certificates, (ii) the Class A-1A2 Certificates, (iii) the Class A-1B Certificates, (iv) the Class A-1F Certificates, (v) the Class A-2 Certificates, (vi) the Class A-3 Certificates, (vii) the Class M-1 Certificates, (viii) the Class M-2 Certificates, (ix) the Class M-3 Certificates, (x) the Class M-4 Certificates, (xi) the Class M-5 Certificates, (xii) the Class M-6 Certificates, (xiii) the Class M-7 Certificates, (xiv) the Class M-8 Certificates, (xv) the Class M-9 Certificates, (xvi) the Class B-1 Certificates, (xvii) the Class P Certificates, (xviii) the Class X-1 Certificates, (xix) the Class X-2 Certificates, (xx) the Class X-S Certificates, (xxi) the Class A-R Certificates and (xxii) the Class A-RL Certificates. REMIC 1 As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, Basis Risk Reserve Fund, Swap Account, the Capitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a "latest possible maturity date" REMIC") for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 1." The Class A-RL Certificates will represent the sole class of "residual interests" in REMIC 1 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the Certificates and "regular interests" in REMIC 1 (the Components, together with "REMIC 1 Regular Interests"). None of the minimum denominations and integral multiples in excess thereof in which the Classes REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of Certificates shall be issuable (except that one Certificate satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 Regular Interests will be the Latest Possible Maturity Date as defined herein. INITIAL UNCERTIFICATED REMIC 1 UNCERTIFICATED DESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE ----------- ----------------- ----------------- LTI-1 Variable(1) $ 501,666,393.49 LTI-PF Variable(1) $ 73,333,806.51 LTI-S1 Variable(1) (2) LTI-S2 Variable(1) (2) ------------------- (1) Calculated as provided in the definition of Uncertificated REMIC 1 Pass-Through Rate.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II-A4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates, (xvii) the Class R Certificates, (xviii) the Class R-CX Certificates and (xix) the Class R-PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. IX $129,509,320.86 Variable2 May 25, 2047 I-1-A $ 1,955,190.52 Variable2 May 25, 2047 I-1-B $ 1,955,190.52 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-2-B $ 2,478,702.37 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-3-B $ 2,936,857.68 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-4-B $ 3,383,948.09 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-5-B $ 1,086,748.06 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,533,744.66 Variable2 May 25, 2047 I-6-B $ 1,533,744.66 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,933,650.21 Variable2 May 25, 2047 I-7-B $ 1,933,650.21 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 2,365,426.69 Variable2 May 25, 2047 I-8-B $ 2,365,426.69 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-9-B $ 3,103,020.97 Variable2 May 25, 2047 I-10-B $ 4,330,930.90 Variable2 May 25, 2047 I-11-A $ 5,518,260.80 Variable2 May 25, 2047 I-11-B $ 5,518,260.80 Variable2 May 25, 2047 I-12-A $ 5,812,419.67 Variable2 May 25, 2047 I-12-B $ 5,812,419.67 Variable2 May 25, 2047 I-13-A $ 5,579,166.42 Variable2 May 25, 2047 I-13-B $ 5,579,166.42 Variable2 May 25, 2047 I-14-A $ 5,259,276.62 Variable2 May 25, 2047 I-14-B $ 5,259,276.62 Variable2 May 25, 2047 I-15-A $ 4,946,674.17 Variable2 May 25, 2047 I-15-B $ 4,946,674.17 Variable2 May 25, 2047 I-16-A $ 4,677,720.88 Variable2 May 25, 2047 I-16-B $ 4,677,720.88 Variable2 May 25, 2047 I-17-A $ 4,478,668.50 Variable2 May 25, 2047 I-17-B $ 4,478,668.50 Variable2 May 25, 2047 I-18-A $ 4,273,483.34 Variable2 May 25, 2047 I-18-B $ 4,273,483.34 Variable2 May 25, 2047 I-19-A $ 4,049,969.15 Variable2 May 25, 2047 I-19-B $ 4,049,969.15 Variable2 May 25, 2047 I-20-A $ 3,835,204.58 Variable2 May 25, 2047 I-20-B $ 3,835,204.58 Variable2 May 25, 2047 I-21-A $ 4,830,929.47 Variable2 May 25, 2047 I-21-B $ 4,830,929.47 Variable2 May 25, 2047 I-22-B $ 59,187,491.39 Variable2 May 25, 2047 I-23-A $ 6,003,384.40 Variable2 May 25, 2047 I-23-B $ 6,003,384.40 Variable2 May 25, 2047 I-24-A $ 5,129,553.91 Variable2 May 25, 2047 I-24-B $ 5,129,553.91 Variable2 May 25, 2047 I-25-A $ 4,219,558.16 Variable2 May 25, 2047 I-25-B $ 4,219,558.16 Variable2 May 25, 2047 I-26-A $ 3,618,746.37 Variable2 May 25, 2047 I-26-B $ 3,618,746.37 Variable2 May 25, 2047 I-27-A $ 3,195,050.89 Variable2 May 25, 2047 I-27-B $ 3,195,050.89 Variable2 May 25, 2047 I-28-A $ 2,877,192.27 Variable2 May 25, 2047 I-28-B $ 2,877,192.27 Variable2 May 25, 2047 I-29-A $ 2,606,574.65 Variable2 May 25, 2047 I-29-B $ 2,606,574.65 Variable2 May 25, 2047 I-30-A $ 2,445,444.33 Variable2 May 25, 2047 I-30-B $ 2,445,444.33 Variable2 May 25, 2047 I-31-A $ 2,316,424.69 Variable2 May 25, 2047 I-31-B $ 2,316,424.69 Variable2 May 25, 2047 I-32-A $ 2,217,421.38 Variable2 May 25, 2047 I-32-B $ 2,217,421.38 Variable2 May 25, 2047 I-33-A $ 2,593,673.98 Variable2 May 25, 2047 I-33-B $ 2,593,673.98 Variable2 May 25, 2047 I-34-A $ 3,138,512.27 Variable2 May 25, 2047 I-34-B $ 3,138,512.27 Variable2 May 25, 2047 I-35-A $ 424,034.75 Variable2 May 25, 2047 I-35-B $ 424,034.75 Variable2 May 25, 2047 I-36-A $ 4,372,967.67 Variable2 May 25, 2047 I-36-B $ 4,372,967.67 Variable2 May 25, 2047 I-37-A $ 2,121,274.28 Variable2 May 25, 2047 I-37-B $ 2,121,274.28 Variable2 May 25, 2047 I-38-A $ 1,961,580.35 Variable2 May 25, 2047 I-38-B $ 1,961,580.35 Variable2 May 25, 2047 I-39-A $ 1,817,984.10 Variable2 May 25, 2047 I-39-B $ 1,817,984.10 Variable2 May 25, 2047 I-40-A $ 1,697,199.39 Variable2 May 25, 2047 I-40-B $ 1,697,199.39 Variable2 May 25, 2047 I-41-A $ 1,593,754.09 Variable2 May 25, 2047 I-41-B $ 1,593,754.09 Variable2 May 25, 2047 I-42-A $ 1,490,041.84 Variable2 May 25, 2047 I-42-B $ 1,490,041.84 Variable2 May 25, 2047 I-43-A $ 1,396,433.02 Variable2 May 25, 2047 I-43-B $ 1,396,433.02 Variable2 May 25, 2047 I-44-A $ 1,291,816.38 Variable2 May 25, 2047 I-44-B $ 1,291,816.38 Variable2 May 25, 2047 I-45-A $ 1,257,902.84 Variable2 May 25, 2047 I-45-B $ 1,257,902.84 Variable2 May 25, 2047 I-46-B $ 1,224,724.15 Variable2 May 25, 2047 I-47-A $ 1,183,164.01 Variable2 May 25, 2047 I-47-B $ 1,183,164.01 Variable2 May 25, 2047 I-48-A $ 1,154,768.08 Variable2 May 25, 2047 I-48-B $ 1,154,768.08 Variable2 May 25, 2047 I-49-A $ 1,121,669.11 Variable2 May 25, 2047 I-49-B $ 1,121,669.11 Variable2 May 25, 2047 I-50-A $ 1,099,979.62 Variable2 May 25, 2047 I-50-B $ 1,099,979.62 Variable2 May 25, 2047 I-51-A $ 1,072,576.92 Variable2 May 25, 2047 I-51-B $ 1,072,576.92 Variable2 May 25, 2047 I-52-A $ 1,045,428.43 Variable2 May 25, 2047 I-52-B $ 1,045,428.43 Variable2 May 25, 2047 I-53-A $ 1,018,205.92 Variable2 May 25, 2047 I-53-B $ 1,018,205.92 Variable2 May 25, 2047 I-54-A $ 991,121.37 Variable2 May 25, 2047 I-54-B $ 991,121.37 Variable2 May 25, 2047 I-55-A $ 964,810.47 Variable2 May 25, 2047 I-55-B $ 964,810.47 Variable2 May 25, 2047 I-56-A $ 928,957.07 Variable2 May 25, 2047 I-56-B $ 928,957.07 Variable2 May 25, 2047 I-57-A $ 891,368.93 Variable2 May 25, 2047 I-57-B $ 891,368.93 Variable2 May 25, 2047 I-58-A $ 852,206.84 Variable2 May 25, 2047 I-58-B $ 852,206.84 Variable2 May 25, 2047 I-59-A $ 27,587,521.32 Variable2 May 25, 2047 I-59-B $ 27,587,521.32 Variable2 May 25, 2047 IIX $210,811,616.18 Variable2 May 25, 2047 II-1-A $ 3,182,601.48 Variable2 May 25, 2047 II-1-B $ 3,182,601.48 Variable2 May 25, 2047 II-2-A $ 4,034,758.63 Variable2 May 25, 2047 II-2-B $ 4,034,758.63 Variable2 May 25, 2047 II-3-A $ 4,780,530.32 Variable2 May 25, 2047 II-3-B $ 4,780,530.32 Variable2 May 25, 2047 II-4-A $ 5,508,290.91 Variable2 May 25, 2047 II-4-B $ 5,508,290.91 Variable2 May 25, 2047 II-5-A $ 1,768,976.44 Variable2 May 25, 2047 II-5-B $ 1,768,976.44 Variable2 May 25, 2047 II-6-A $ 2,496,584.34 Variable2 May 25, 2047 II-6-B $ 2,496,584.34 Variable2 May 25, 2047 II-7-A $ 3,147,538.79 Variable2 May 25, 2047 II-7-B $ 3,147,538.79 Variable2 May 25, 2047 II-8-A $ 3,850,371.81 Variable2 May 25, 2047 II-8-B $ 3,850,371.81 Variable2 May 25, 2047 II-9-A $ 5,051,006.03 Variable2 May 25, 2047 II-9-B $ 5,051,006.03 Variable2 May 25, 2047 II-10-A $ 7,049,761.60 Variable2 May 25, 2047 II-10-B $ 7,049,761.60 Variable2 May 25, 2047 II-11-A $ 8,982,462.20 Variable2 May 25, 2047 II-11-B $ 8,982,462.20 Variable2 May 25, 2047 II-12-A $ 9,461,285.33 Variable2 May 25, 2047 II-12-B $ 9,461,285.33 Variable2 May 25, 2047 II-13-A $ 9,081,602.58 Variable2 May 25, 2047 II-13-B $ 9,081,602.58 Variable2 May 25, 2047 II-14-A $ 8,560,895.38 Variable2 May 25, 2047 II-14-B $ 8,560,895.38 Variable2 May 25, 2047 II-15-A $ 8,052,050.33 Variable2 May 25, 2047 II-15-B $ 8,052,050.33 Variable2 May 25, 2047 II-16-A $ 7,614,256.12 Variable2 May 25, 2047 II-16-B $ 7,614,256.12 Variable2 May 25, 2047 II-17-A $ 7,290,244.50 Variable2 May 25, 2047 II-17-B $ 7,290,244.50 Variable2 May 25, 2047 II-18-A $ 6,956,250.16 Variable2 May 25, 2047 II-18-B $ 6,956,250.16 Variable2 May 25, 2047 II-19-A $ 6,592,420.35 Variable2 May 25, 2047 II-19-B $ 6,592,420.35 Variable2 May 25, 2047 II-20-A $ 6,242,832.92 Variable2 May 25, 2047 II-20-B $ 6,242,832.92 Variable2 May 25, 2047 II-21-A $ 7,863,644.53 Variable2 May 25, 2047 II-21-B $ 7,863,644.53 Variable2 May 25, 2047 II-22-A $ 6,343,653.11 Variable2 May 25, 2047 II-22-B $ 96,343,653.11 Variable2 May 25, 2047 II-23-A $ 9,772,132.10 Variable2 May 25, 2047 II-23-B $ 9,772,132.10 Variable2 May 25, 2047 II-24-A $ 8,349,736.59 Variable2 May 25, 2047 II-24-B $ 8,349,736.59 Variable2 May 25, 2047 II-25-A $ 6,868,472.34 Variable2 May 25, 2047 II-25-B $ 6,868,472.34 Variable2 May 25, 2047 II-26-A $ 5,890,488.63 Variable2 May 25, 2047 II-26-B $ 5,890,488.63 Variable2 May 25, 2047 II-27-A $ 5,200,809.61 Variable2 May 25, 2047 II-27-B $ 5,200,809.61 Variable2 May 25, 2047 II-28-A $ 4,683,408.73 Variable2 May 25, 2047 II-28-B $ 4,683,408.73 Variable2 May 25, 2047 II-29-A $ 4,242,905.35 Variable2 May 25, 2047 II-29-B $ 4,242,905.35 Variable2 May 25, 2047 II-30-A $ 3,980,622.17 Variable2 May 25, 2047 II-30-B $ 3,980,622.17 Variable2 May 25, 2047 II-31-A $ 3,770,607.81 Variable2 May 25, 2047 II-31-B $ 3,770,607.81 Variable2 May 25, 2047 II-32-A $ 3,609,453.12 Variable2 May 25, 2047 II-32-B $ 3,609,453.12 Variable2 May 25, 2047 II-33-A $ 4,221,906.02 Variable2 May 25, 2047 II-33-B $ 4,221,906.02 Variable2 May 25, 2047 II-34-A $ 5,108,777.73 Variable2 May 25, 2047 II-34-B $ 5,108,777.73 Variable2 May 25, 2047 II-35-A $ 690,231.25 Variable2 May 25, 2047 II-35-B $ 690,231.25 Variable2 May 25, 2047 II-36-A $ 7,118,187.83 Variable2 May 25, 2047 II-36-B $ 7,118,187.83 Variable2 May 25, 2047 II-37-A $ 3,452,947.72 Variable2 May 25, 2047 II-37-B $ 3,452,947.72 Variable2 May 25, 2047 II-38-A $ 3,193,002.65 Variable2 May 25, 2047 II-38-B $ 3,193,002.65 Variable2 May 25, 2047 II-39-A $ 2,959,260.90 Variable2 May 25, 2047 II-39-B $ 2,959,260.90 Variable2 May 25, 2047 II-40-A $ 2,762,651.11 Variable2 May 25, 2047 II-40-B $ 2,762,651.11 Variable2 May 25, 2047 II-41-A $ 2,594,265.91 Variable2 May 25, 2047 II-41-B $ 2,594,265.91 Variable2 May 25, 2047 II-42-A $ 2,425,446.16 Variable2 May 25, 2047 II-42-B $ 2,425,446.16 Variable2 May 25, 2047 II-43-A $ 2,273,072.48 Variable2 May 25, 2047 II-43-B $ 2,273,072.48 Variable2 May 25, 2047 II-44-A $ 2,102,780.62 Variable2 May 25, 2047 II-44-B $ 2,102,780.62 Variable2 May 25, 2047 II-45-A $ 2,047,577.16 Variable2 May 25, 2047 II-45-B $ 2,047,577.16 Variable2 May 25, 2047 II-46-A $ 1,993,569.85 Variable2 May 25, 2047 II-46-B $ 1,993,569.85 Variable2 May 25, 2047 II-47-A $ 1,925,919.49 Variable2 May 25, 2047 II-47-B $ 1,925,919.49 Variable2 May 25, 2047 II-48-A $ 1,879,697.42 Variable2 May 25, 2047 II-48-B $ 1,879,697.42 Variable2 May 25, 2047 II-49-A $ 1,825,819.89 Variable2 May 25, 2047 II-49-B $ 1,825,819.89 Variable2 May 25, 2047 II-50-A $ 1,790,514.38 Variable2 May 25, 2047 II-50-B $ 1,790,514.38 Variable2 May 25, 2047 II-51-A $ 1,745,909.08 Variable2 May 25, 2047 II-51-B $ 1,745,909.08 Variable2 May 25, 2047 II-52-A $ 1,701,717.57 Variable2 May 25, 2047 II-52-B $ 1,701,717.57 Variable2 May 25, 2047 II-53-A $ 1,657,405.58 Variable2 May 25, 2047 II-53-B $ 1,657,405.58 Variable2 May 25, 2047 II-54-A $ 1,613,318.13 Variable2 May 25, 2047 II-54-B $ 1,613,318.13 Variable2 May 25, 2047 II-55-A $ 1,570,490.03 Variable2 May 25, 2047 II-55-B $ 1,570,490.03 Variable2 May 25, 2047 II-56-A $ 1,512,128.93 Variable2 May 25, 2047 II-56-B $ 1,512,128.93 Variable2 May 25, 2047 II-57-A $ 1,450,944.07 Variable2 May 25, 2047 II-57-B $ 1,450,944.07 Variable2 May 25, 2047 II-58-A $ 1,387,197.16 Variable2 May 25, 2047 II-58-B $ 1,387,197.16 Variable2 May 25, 2047 II-59-A $ 44,906,153.68 Variable2 May 25, 2047 II-59-B $ 44,906,153.68 Variable2 May 25, 2047 P $ 100.00 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R-2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Certificates and REMIC 2 Regular Interests. None of the ComponentsREMIC 2 Regular Interests will be certificated. AA $780,895,878.44 Variable2 May 25, together 2047 A-IA $ 2,457,750.00 Variable2 May 25, 2047 A-IIA1 $ 1,787,125.00 Variable2 May 25, 2047 A-IIA2 $ 626,610.00 Variable2 May 25, 2047 A-IIA3 $ 997,070.00 Variable2 May 25, 2047 A-IIA4 $ 589,775.00 Variable2 May 25, 2047 M1 $ 254,985.00 Variable2 May 25, 2047 M2 $ 223,115.00 Variable2 May 25, 2047 M3 $ 135,460.00 Variable2 May 25, 2047 M4 $ 119,525.00 Variable2 May 25, 2047 M5 $ 115,540.00 Variable2 May 25, 2047 M6 $ 107,570.00 Variable2 May 25, 2047 M7 $ 103,590.00 Variable2 May 25, 2047 M8 $ 63,745.00 Variable2 May 25, 2047 M9 $ 87,655.00 Variable2 May 25, 2047 ZZ $ 8,267,135.58 Variable2 May 25, 2047 1GRP $ 11,492.04 Variable2 May 25, 2047 1SUB $ 60,647.04 Variable2 May 25, 2047 2GRP $ 18,707.87 Variable2 May 25, 2047 2SUB $ 98,719.47 Variable2 May 25, 2047 XX $796,642,962.59 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the minimum denominations and integral multiples latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in excess thereof in which accordance with the Classes definition of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount in excess of the minimum denomination):but will accrue interest on its Uncertificated Notional Amount, as defined herein.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2005-1 Mortgage Loan Pass-Through Certificates, Series 2005-1 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of thirteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A1A Certificates, (iii) the Class 2-A1B Certificates, (iv) the Class 2-A2 Certificates, (v) the Class X Certificates, (vi) the Class A-R Certificates, (vii) the Class B-1 Certificates, (viii) the Class B-2 Certificates, (ix) the Class B-3 Certificates, (x) the Class B-4 Certificates, (xi) the Class B-5 Certificates, (xii) the Class B-6 Certificates and (xiii) the Class Y Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreement) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A, Class 2-A1A, Class 2-A1B, Class 2-A2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 2-A1A, Class 2-A1B, Class 2-A2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreement, and the interests created in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be the designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: LT1-A (1) $ 273,382,050.00 Class 1-A and A-R LT2-A1A (1) $ 210,185,000.00 Class 2-A1A LT2-A1B (1) $ 140,123,500.00 Class 2-A1B LT2-A2 (1) $ 30,376,000.00 Class 2-A2 LTB-6 (1) $ 3,544,783.00 Class B-6 LTQ (1) $ 708,247,833.06 N/A LT-R (2) (2) Class A-R __________________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-five classes of certificates, designated as (i) the Class 1-A-1-1 Certificates, (ii) the Class 1-A-1-2 Certificates, (iii) the Class 1-A-2A Certificates, (iv) the Class 1-A-2B Certificates, (v) the Class 1-A-2C Certificates,(vi) the Class 2-A-1 Certificates, (vii) the Class 2-A-2 Certificates, (viii) the Class 1-M-1 Certificates, (ix) the Class 1-M-2 Certificates, (x) the Class 1-M-3 Certificates, (xi) the Class 1-M-4 Certificates, (xii) the Class 1-M-5 Certificates, (xiii) the Class 1-M-6 Certificates, (xiv) the Class 1-M-7 Certificates, (x) the Class 1-M-8 Certificates, (xi) the Class 2-M-1 Certificates, (xii) the Class 2-M-2 Certificates, (xiii) the Class 2-M-3 Certificates, (xix) the Class 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificats, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of Loan Group 1 and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the Supplemental Interest Trust, the Swap Account and the Group 1-A-2 Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable Date (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) 1-A-1 Variable(2) $ 130,047,000.00 May 2036 1-A-1-OC Variable(2) $ 9,654,854.61 May 2036 1-A-1-P Variable(2) $ 100.00 May 2036 1-1-A Variable(2) $ 1,219,478.33 May 2036 1-1-B Variable(2) $ 1,219,478.33 May 2036 1-2-A Variable(2) $ 1,689,392.90 May 2036 1-2-B Variable(2) $ 1,689,392.90 May 2036 1-3-A Variable(2) $ 2,161,020.85 May 2036 1-3-B Variable(2) $ 2,161,020.85 May 2036 1-4-A Variable(2) $ 2,631,457.93 May 2036 1-4-B Variable(2) $ 2,631,457.93 May 2036 1-5-A Variable(2) $ 3,097,708.88 May 2036 1-5-B Variable(2) $ 3,097,708.88 May 2036 1-6-A Variable(2) $ 3,556,747.08 May 2036 1-6-B Variable(2) $ 3,556,747.08 May 2036 1-7-A Variable(2) $ 4,005,464.50 May 2036 1-7-B Variable(2) $ 4,005,464.50 May 2036 1-8-A Variable(2) $ 4,440,538.91 May 2036 1-8-B Variable(2) $ 4,440,538.91 May 2036 1-9-A Variable(2) $ 4,859,095.41 May 2036 1-9-B Variable(2) $ 4,859,095.41 May 2036 1-10-A Variable(2) $ 5,137,294.00 May 2036 1-10-B Variable(2) $ 5,137,294.00 May 2036 1-11-A Variable(2) $ 5,358,136.54 May 2036 1-11-B Variable(2) $ 5,358,136.54 May 2036 1-12-A Variable(2) $ 5,425,595.41 May 2036 1-12-B Variable(2) $ 5,425,595.41 May 2036 1-13-A Variable(2) $ 5,261,614.90 May 2036 1-13-B Variable(2) $ 5,261,614.90 May 2036 1-14-A Variable(2) $ 5,102,598.27 May 2036 1-14-B Variable(2) $ 5,102,598.27 May 2036 1-15-A Variable(2) $ 4,948,414.66 May 2036 1-15-B Variable(2) $ 4,948,414.66 May 2036 1-16-A Variable(2) $ 4,798,797.43 May 2036 1-16-B Variable(2) $ 4,798,797.43 May 2036 1-17-A Variable(2) $ 4,653,731.96 May 2036 1-17-B Variable(2) $ 4,653,731.96 May 2036 1-18-A Variable(2) $ 4,512,951.51 May 2036 1-18-B Variable(2) $ 4,512,951.51 May 2036 1-19-A Variable(2) $ 4,376,430.06 May 2036 1-19-B Variable(2) $ 4,376,430.06 May 2036 1-20-A Variable(2) $ 4,244,140.25 May 2036 1-20-B Variable(2) $ 4,244,140.25 May 2036 1-21-A Variable(2) $ 19,707,148.45 May 2036 1-21-B Variable(2) $ 19,707,148.45 May 2036 1-22-A Variable(2) $ 7,767,674.53 May 2036 1-22-B Variable(2) $ 7,767,674.53 May 2036 1-23-A Variable(2) $ 7,531,609.12 May 2036 1-23-B Variable(2) $ 7,531,609.12 May 2036 1-24-A Variable(2) $ 3,050,425.72 May 2036 1-24-B Variable(2) $ 3,050,425.72 May 2036 1-25-A Variable(2) $ 2,958,088.08 May 2036 1-25-B Variable(2) $ 2,958,088.08 May 2036 1-26-A Variable(2) $ 2,868,424.69 May 2036 1-26-B Variable(2) $ 2,868,424.69 May 2036 1-27-A Variable(2) $ 2,781,616.07 May 2036 1-27-B Variable(2) $ 2,781,616.07 May 2036 1-28-A Variable(2) $ 2,697,296.69 May 2036 1-28-B Variable(2) $ 2,697,296.69 May 2036 1-29-A Variable(2) $ 2,615,584.21 May 2036 1-29-B Variable(2) $ 2,615,584.21 May 2036 1-30-A Variable(2) $ 2,536,331.10 May 2036 1-30-B Variable(2) $ 2,536,331.10 May 2036 1-31-A Variable(2) $ 2,459,422.13 May 2036 1-31-B Variable(2) $ 2,459,422.13 May 2036 1-32-A Variable(2) $ 2,384,937.54 May 2036 1-32-B Variable(2) $ 2,384,937.54 May 2036 1-33-A Variable(2) $ 4,266,259.46 May 2036 1-33-B Variable(2) $ 4,266,259.46 May 2036 1-34-A Variable(2) $ 3,159,440.38 May 2036 1-34-B Variable(2) $ 3,159,440.38 May 2036 1-35-A Variable(2) $ 5,017,115.56 May 2036 1-35-B Variable(2) $ 5,017,115.56 May 2036 1-36-A Variable(2) $ 36,172,180.59 May 2036 1-36-B Variable(2) $ 36,172,180.59 May 2036 1-37-A Variable(2) $ 827,402.50 May 2036 1-37-B Variable(2) $ 827,402.50 May 2036 1-38-A Variable(2) $ 802,330.00 May 2036 1-38-B Variable(2) $ 802,330.00 May 2036 1-39-A Variable(2) $ 777,930.00 May 2036 1-39-B Variable(2) $ 777,930.00 May 2036 1-40-A Variable(2) $ 754,337.50 May 2036 1-40-B Variable(2) $ 754,337.50 May 2036 1-41-A Variable(2) $ 731,402.50 May 2036 1-41-B Variable(2) $ 731,402.50 May 2036 1-42-A Variable(2) $ 709,172.50 May 2036 1-42-B Variable(2) $ 709,172.50 May 2036 1-43-A Variable(2) $ 687,667.50 May 2036 1-43-B Variable(2) $ 687,667.50 May 2036 1-44-A Variable(2) $ 666,715.00 May 2036 1-44-B Variable(2) $ 666,715.00 May 2036 1-45-A Variable(2) $ 646,492.50 May 2036 1-45-B Variable(2) $ 646,492.50 May 2036 1-46-A Variable(2) $ 626,802.50 May 2036 1-46-B Variable(2) $ 626,802.50 May 2036 1-47-A Variable(2) $ 607,775.00 May 2036 1-47-B Variable(2) $ 607,775.00 May 2036 1-48-A Variable(2) $ 589,260.00 May 2036 1-48-B Variable(2) $ 589,260.00 May 2036 1-49-A Variable(2) $ 571,322.50 May 2036 1-49-B Variable(2) $ 571,322.50 May 2036 1-50-A Variable(2) $ 553,955.00 May 2036 1-50-B Variable(2) $ 553,955.00 May 2036 1-51-A Variable(2) $ 537,065.00 May 2036 1-51-B Variable(2) $ 537,065.00 May 2036 1-52-A Variable(2) $ 520,720.00 May 2036 1-52-B Variable(2) $ 520,720.00 May 2036 1-53-A Variable(2) $ 504,870.00 May 2036 1-53-B Variable(2) $ 504,870.00 May 2036 1-54-A Variable(2) $ 489,502.50 May 2036 1-54-B Variable(2) $ 489,502.50 May 2036 1-55-A Variable(2) $ 474,592.50 May 2036 1-55-B Variable(2) $ 474,592.50 May 2036 1-56-A Variable(2) $ 460,107.50 May 2036 1-56-B Variable(2) $ 460,107.50 May 2036 1-57-A Variable(2) $ 3,682,367.50 May 2036 1-57-B Variable(2) $ 3,682,367.50 May 2036 1-58-A Variable(2) $ 1,719,787.50 May 2036 1-58-B Variable(2) $ 1,719,787.50 May 2036 1-59-A Variable(2) $ 8,139,465.00 May 2036 1-59-B Variable(2) $ 8,139,465.00 May 2036 1-60-A Variable(2) $ 954,020.00 May 2036 1-60-B Variable(2) $ 954,020.00 May 2036 1-A-2-OC Variable(2) $ 87,073,388.47 May 2036 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twelve classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) the Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class C Certificates, (vii) the Class P Certificates, (viii) the Class R Certificates and (ix) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Certificate Principal Balance Assumed Final Maturity Date(1) I (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) $ 156,488,564.28 February 2038 I-4-B (2) $ 8,363,471.25 February 2038 I-5-B (2) $ 9,243,401.25 February 2038 I-8-B (2) $ 11,145,846.25 February 2038 I-11-B (2) $ 9,264,968.75 February 2038 I-18-B (2) $ 8,394,027.50 February 2038 I-20-B (2) $ 17,327,707.50 February 2038 I-24-B (2) $ 6,274,632.50 February 2038 I-25-B (2) $ 6,011,301.25 February 2038 I-26-B (2) $ 5,798,306.25 February 2038 I-27-B (2) $ 5,592,841.25 February 2038 I-29-B (2) $ 5,203,481.25 February 2038 I-30-B (2) $ 5,019,075.00 February 2038 I-33-B (2) $ 4,503,590.00 February 2038 I-34-B (2) $ 4,343,961.25 February 2038 I-38-B (2) $ 1,956,200.00 February 2038 I-39-B (2) $ 1,886,818.75 February 2038 I-41-B (2) $ 1,755,341.25 February 2038 I-42-A (2) $ 1,693,073.75 February 2038 I-42-B (2) $ 1,693,073.75 February 2038 I-43-B (2) $ 1,633,011.25 February 2038 I-44-B (2) $ 1,575,077.50 February 2038 I-45-B (2) $ 1,519,193.75 February 2038 I-47-B (2) $ 1,415,723.75 February 2038 I-48-B (2) $ 1,368,262.50 February 2038 I-49-B (2) $ 1,319,603.75 February 2038 I-50-B (2) $ 1,272,636.25 February 2038 I-51-B (2) $ 1,227,338.75 February 2038 I-52-B (2) $ 1,183,628.75 February 2038 I-55-B (2) $ 1,061,615.00 February 2038 P (2) $ 100.00 February 2038 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A1 Certificates, (ii) the Class I-A2 Certificates, (iii) the Class II-A1 Certificates, (iv) the Class II-A2 Certificates, (v) the Class II-A3 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class B-1 Certificates, (xvi) the Class B-2 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R-CX Certificates and (xxi) the Class R-PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Account and the Master Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 LT1-AA $[___________.__] Variable2 [_____, 20__] LT1-IA1 $[___________.__] Variable2 [_____, 20__] LT1-IA2 $[___________.__] Variable2 [_____, 20__] LT1-IIA1 $[___________.__] Variable2 [_____, 20__] LT1-IIA2 $[___________.__] Variable2 [_____, 20__] LT1-IIA3 $[___________.__] Variable2 [_____, 20__] LT1-M1 $[___________.__] Variable2 [_____, 20__] LT1-M2 $[___________.__] Variable2 [_____, 20__] LT1-M3 $[___________.__] Variable2 [_____, 20__] LT1-M4 $[___________.__] Variable2 [_____, 20__] LT1-M5 $[___________.__] Variable2 [_____, 20__] LT1-M6 $[___________.__] Variable2 [_____, 20__] LT1-M7 $[___________.__] Variable2 [_____, 20__] LT1-M8 $[___________.__] Variable2 [_____, 20__] LT1-M9 $[___________.__] Variable2 [_____, 20__] LT1-B1 $[___________.__] Variable2 [_____, 20__] LT1-B2 $[___________.__] Variable2 [_____, 20__] LT1-ZZ $[___________.__] Variable2 [_____, 20__] LT1-1SUB $[___________.__] Variable2 [_____, 20__] LT1-1GRP $[___________.__] Variable2 [_____, 20__] LT1-2SUB $[___________.__] Variable2 [_____, 20__] LT1-2GRP $[___________.__] Variable2 [_____, 20__] LT1-XX $[___________.__] Variable2 [_____, 20__] LT1-P $[___________.__] Variable2 [_____, 20__] 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 2.” The Class R-2 Interest represents the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions. The following table sets forth characteristics of (or describes) the Certificates Class designation, Pass-Through Rate and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Original Class Certificate of Principal Balance for each Class of Certificates may be issued in any amount in excess that represents one or more of the minimum denomination):“regular interests” in REMIC 2 and each class of uncertificated “regular interests” in REMIC 2: Class Designation Original Class Certificate Principal Balance Pass-Through Rate Assumed Final Maturity Date1 I-A1 $[___________.__] Variable2 [_____, 20__] I-A2 $[___________.__] Variable2 [_____, 20__] II-A1 $[___________.__] Variable2 [_____, 20__] II-A2 $[___________.__] Variable2 [_____, 20__] II-A3 $[___________.__] Variable2 [_____, 20__] M-1 $[___________.__] Variable2 [_____, 20__] M-2 $[___________.__] Variable2 [_____, 20__] M-3 $[___________.__] Variable2 [_____, 20__] M-4 $[___________.__] Variable2 [_____, 20__] M-5 $[___________.__] Variable2 [_____, 20__] M-6 $[___________.__] Variable2 [_____, 20__] M-7 $[___________.__] Variable2 [_____, 20__] M-8 $[___________.__] Variable2 [_____, 20__] M-9 $[___________.__] Variable2 [_____, 20__] Swap IO N/A5 Variable5 [_____, 20__] Class C Interest3 $[___________.__] Variable2 [_____, 20__] Class P Interest $[___________.__] N/A4 [_____, 20__] ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 2. 2 Calculated in accordance with the definition of “Pass-Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC 1 Regular Interests. The Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” will not have principal amounts or interest rates but will be entitled to 100% of the interest paid on REMIC 1 Regular Interests [__________]. These interests will not be certificated.

PRELIMINARY STATEMENT. In exchange for the CertificatesThe Company intends to sell Mortgage Pass-Through Certificates (collectively, the Depositor hereby conveys "Certificates"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate Fund. As provided herein, the REMIC Administrator will make an election to treat the Trustee entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to create this Agreement (including the Trust. The Trust Estate Mortgage Loans), as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be treated designated as two separate real estate mortgage investment conduits (the "Upper-Tier REMICREMIC I." and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Uncertificated REMIC I Regular Certificates" and shall constitute Interests will be "regular interests" in REMIC I and the UpperClass R-Tier REMICI Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Uncertificated 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. A segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests will be designated as "REMIC III" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class 1-PO ComponentA-1 Certificates, Class 1-IO ComponentA-2 Certificates, Class 1-SES ComponentA-3 Certificates, Class 1-A-4 Certificates, Class 2-PO ComponentA-1 Certificates, Class 2-IO ComponentA-2 Certificates, Class 2-SES ComponentA-3 Certificates, Class 2-A-4 Certificates, Class 3-PO ComponentA-1 Certificates, Class 3-SES ComponentA-2 Certificates, Class 3-A-3 Certificates, Class 3-A-4 Certificates, Class 4-PO ComponentA-1 Certificates, and Class 4-SES Component (collectivelyA-2 Certificates, the "Components") shall also constitute Class 4-A-3 Certificates, Class 4-A-4 Certificates, Class 4-A-5 Certificates, Class 4-A-6 Certificates, Class 4-A-7 Certificates, Class 4-A-8 Certificates, Class 4-A-9 Certificates, Class 4-A- 10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Uncertificated Class A-X-1 REMIC Regular Interests and Uncertificated Class A-X-2 REMIC Regular Interests will be "regular interests" in REMIC III and the UpperClass R-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute III Certificates will be the sole class of "regular residual interests" in therein for purposes of the Lower-Tier REMICREMIC Provisions. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC X-1 and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The X- 2 Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the TrustUncertificated Class A-X- 1 REMIC Regular Interests and the Uncertificated Class A-X-2 REMIC Regular Interests, respectively. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the designation, the Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for federal income tax purposes each of all interests created hereby the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be the certificated. Initial Uncertificated Uncertificated ---Principal-Balance---- Latest --REMIC-I-Pass Possible-Maturity(1)- Designation Through Rate REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsI Regular Interest LT-I-SUB 6.00% $ 811.57 December 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable 2032 REMIC I Regular Interest (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) LT-I-IO N/A (3) December 25, 2032 REMIC I Regular Interest LT-I-ZZZ 6.00% $318,251,932.43 December 25, 2032 REMIC I Regular Interest LT-II-SUB 6.00% $1,706.63 December 25, 2032 REMIC I Regular Interest (4) LT-II-IO N/A (3) December 25, 2032 REMIC I Regular Interest LT-II-ZZZ 6.00% $669,255,616.37 December 25, 2032 REMIC I Regular Interest LT-III-SUB 6.00% $577.44 December 25, 2032 REMIC I Regular Interest LT-III-PO 0.00% $ 229,726.88 December 25, 2032 REMIC I Regular Interest (5) LT-III-IO N/A (3) December 25, 2032 REMIC I Regular Interest LT-III-ZZZ 6.00% $226,141,794.56 December 25, 2032 REMIC I Regular Interest LT-IV-SUB 5.75% $ 582.12 December 25, 2032 REMIC I Regular Interest LT-IV-PO 0.00% $ 444,363.00 December 25, 2032 REMIC I Regular Interest (6) LT-IV-IO N/A (3) December 25, 2032 REMIC I Regular Interest 5.75% $227,809,863.88 December 25, 2032 LT-IV-ZZZ

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class I- A-2 Certificates, (iii) the Class II-A-1 Certificates, (iv) the Class II-A-2 Certificates, (v) Class II-A-3 Certificates, (vi) the Class II-A-4 Certificates, (vii) the Class M-1 Certificates (viii) the Class M-2 Certificates, (ix) the Class M-3 Certificates, (x) the Class M-4 Certificates, (xi) the Class M-5 Certificates, (xii) the Class M-6 Certificates, (xiii) the Class M-7 Certificates, (xiv) the Class M-8 Certificates, (xv) the Class M-9 Certificates, (xvi) the Class M-10 Certificates, (xvii) the Class M-11 Certificates, (xviii) the Class C Certificates, (xix) the Class P Certificates, (xx) the Class R Certificates and (xxi) the Class R-X Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Rate Carryover Reserve Account, the Swap Account, the Serivicer Prepayment Charge Payment Amounts and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate(1) I Variable(2) $ 2,076.89 December 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2035 I-1-B Variable(2) $ 5,259,880.00 December 25, 2035 I-3-B Variable(2) $ 10,029,910.00 December 25, 2035 I-4-B Variable(2) $ 12,433,741.25 December 25, 2035 I-5-A Variable(2) $ 14,822,491.25 December 25, 2035 I-5-B Variable(2) $ 14,822,491.25 December 25, 2035 I-6-A Variable(2) $ 17,174,060.00 December 25, 2035 I-6-B Variable(2) $ 17,174,060.00 December 25, 2035 I-7-B Variable(2) $ 19,465,716.25 December 25, 2035 I-8-A Variable(2) $ 21,673,803.75 December 25, 2035 I-8-B Variable(2) $ 21,673,803.75 December 25, 2035 I-9-B Variable(2) $ 23,774,552.50 December 25, 2035 I-10-B Variable(2) $ 25,744,280.00 December 25, 2035 I-11-A Variable(2) $ 27,500,061.25 December 25, 2035 I-11-B Variable(2) $ 27,500,061.25 December 25, 2035 I-12-A Variable(2) $ 26,242,806.25 December 25, 2035 I-12-B Variable(2) $ 26,242,806.25 December 25, 2035 I-13-A Variable(2) $ 25,044,475.00 December 25, 2035 I-13-B Variable(2) $ 25,044,475.00 December 25, 2035 I-14-B Variable(2) $ 23,902,175.00 December 25, 2035 I-15-A Variable(2) $ 22,813,246.25 December 25, 2035 I-15-B Variable(2) $ 22,813,246.25 December 25, 2035 I-16-A Variable(2) $ 21,775,151.25 December 25, 2035 I-16-B Variable(2) $ 21,775,151.25 December 25, 2035 I-17-B Variable(2) $ 20,785,470.00 December 25, 2035 I-18-A Variable(2) $ 19,841,877.50 December 25, 2035 I-18-B Variable(2) $ 19,841,877.50 December 25, 2035 I-19-A Variable(2) $ 18,942,278.75 December 25, 2035 I-19-B Variable(2) $ 18,942,278.75 December 25, 2035 I-20-A Variable(2) $ 18,084,536.25 December 25, 2035 I-20-B Variable(2) $ 18,084,536.25 December 25, 2035 I-21-A Variable(2) $ 17,266,667.50 December 25, 2035 I-21-B Variable(2) $ 17,266,667.50 December 25, 2035 I-22-B Variable(2) $ 17,130,847.50 December 25, 2035 I-23-B Variable(2) $ 47,570,257.50 December 25, 2035 I-24-A Variable(2) $ 39,690,008.75 December 25, 2035 I-24-B Variable(2) $ 39,690,008.75 December 25, 2035 I-25-A Variable(2) $ 33,211,137.50 December 25, 2035 I-25-B Variable(2) $ 33,211,137.50 December 25, 2035 I-26-A Variable(2) $ 27,580,762.50 December 25, 2035 I-26-B Variable(2) $ 27,580,762.50 December 25, 2035 I-27-A Variable(2) $ 10,019,858.75 December 25, 2035 I-27-B Variable(2) $ 10,019,858.75 December 25, 2035 I-28-A Variable(2) $ 9,502,957.50 December 25, 2035 I-28-B Variable(2) $ 9,502,957.50 December 25, 2035 I-29-A Variable(2) $ 9,014,620.00 December 25, 2035 I-29-B Variable(2) $ 9,014,620.00 December 25, 2035 I-30-A Variable(2) $ 8,553,053.75 December 25, 2035 I-30-B Variable(2) $ 8,553,053.75 December 25, 2035 I-31-B Variable(2) $ 8,117,012.50 December 25, 2035 I-32-B Variable(2) $ 7,704,883.75 December 25, 2035 I-33-A Variable(2) $ 7,315,290.00 December 25, 2035 I-33-B Variable(2) $ 7,315,290.00 December 25, 2035 I-34-A Variable(2) $ 6,946,945.00 December 25, 2035 I-34-B Variable(2) $ 6,946,945.00 December 25, 2035 I-35-A Variable(2) $ 6,598,623.75 December 25, 2035 I-35-B Variable(2) $ 6,598,623.75 December 25, 2035 I-36-A Variable(2) $ 6,268,662.50 December 25, 2035 I-36-B Variable(2) $ 6,268,662.50 December 25, 2035 I-37-B Variable(2) $ 5,957,120.00 December 25, 2035 I-38-A Variable(2) $ 5,662,370.00 December 25, 2035 I-38-B Variable(2) $ 5,662,370.00 December 25, 2035 I-39-A Variable(2) $ 5,383,465.00 December 25, 2035 I-39-B Variable(2) $ 5,383,465.00 December 25, 2035 I-40-A Variable(2) $ 5,119,500.00 December 25, 2035 I-40-B Variable(2) $ 5,119,500.00 December 25, 2035 I-41-A Variable(2) $ 4,869,631.25 December 25, 2035 I-41-B Variable(2) $ 4,869,631.25 December 25, 2035 I-42-A Variable(2) $ 4,633,066.25 December 25, 2035 I-42-B Variable(2) $ 4,633,066.25 December 25, 2035 I-43-A Variable(2) $ 4,409,053.75 December 25, 2035 I-43-B Variable(2) $ 4,409,053.75 December 25, 2035 I-44-A Variable(2) $ 4,196,888.75 December 25, 2035 I-44-B Variable(2) $ 4,196,888.75 December 25, 2035 I-45-A Variable(2) $ 3,995,906.25 December 25, 2035 I-45-B Variable(2) $ 3,995,906.25 December 25, 2035 I-46-B Variable(2) $ 3,805,477.50 December 25, 2035 I-47-A Variable(2) $ 3,625,013.75 December 25, 2035 I-47-B Variable(2) $ 3,625,013.75 December 25, 2035 I-48-A Variable(2) $ 3,453,961.25 December 25, 2035 I-48-B Variable(2) $ 3,453,961.25 December 25, 2035 I-49-A Variable(2) $ 78,979,318.75 December 25, 2035 I-49-B Variable(2) $ 78,979,318.75 December 25, 2035 ________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThe Company intends to sell Mortgage Pass-Through Certificates (collectively, the Depositor hereby conveys "Certificates"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate Fund. As provided herein, the REMIC Administrator will make an election to treat the Trustee entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to create this Agreement (including the Trust. The Trust Estate Mortgage Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be treated designated as two separate real estate mortgage investment conduits (the "Upper-Tier REMICREMIC I." and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Uncertificated REMIC I Regular Certificates" and shall constitute Interests will be "regular interests" in REMIC I and the UpperClass R-Tier REMICI Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class 1-PO ComponentA-1 Certificates, Class 1-IO ComponentA-2 Certificates, Class 1-SES ComponentA-3 Certificates, Class 2-PO ComponentA-4 Certificates, Class 2-IO ComponentA-5 Certificates, Class 2-SES ComponentA-6 Certificates, Class 3-PO ComponentA-7 Certificates, Class 3-SES ComponentA-7A Certificates, Class 4A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20 Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23 Certificates, Class A-24 Certificates, Class A-25 Certificates, Class A-26 Certificates, Class A-27 Certificates, Class A-28, Class A-PO ComponentP Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class 4A-SES Component (collectively, the "Components") shall also constitute V REMIC Regular Interests will be "regular interests" in REMIC II and the UpperClass R-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute II Certificates will be the sole class of "regular residual interests" in therein for purposes of the Lower-Tier REMICREMIC Provisions. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The V Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the TrustUncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross- reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the designation, the Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for federal income tax purposes each of all interests created hereby the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be the certificated. Uncertificated REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsI Pass-Through Initial Uncertificated Latest DESIGNATION U Rate Principal Balance Possible Maturity(1) REMIC I Regular Interest O 8.00% $60,000,000.00 May 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable 2033 REMIC I Regular Interest P 8.00% $11,200,000.00 May 25, 2033 REMIC I Regular Interest Q 8.00% $60,000,000.00 May 25, 2033 REMIC I Regular Interest R 8.00% $84,000,000.00 May 25, 2033 REMIC I Regular Interest S 5.50% $344,347,343.78 May 25, 2033 REMIC I Regular Interest T 5.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest U 5.00% $40,000,000.00 May 25, 2033 REMIC I Regular Interest V 4.75% $40,000,000.00 May 25, 2033 REMIC I Regular Interest W 4.50% $68,000,000.00 May 25, 2033 REMIC I Regular Interest X 4.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest Y 4.00% $240,000,000.00 May 25, 2033 REMIC I Regular Interest Z 0.00% $2,869,793.25 May 25, 2033 REMIC I IO Regular Interests (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2) (3) May 25, 2033 -------------------

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which Certificates in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of six classes of certificates, designated as (i) the Class A-1 Certificates , (ii) the Class A-2 Certificates, (iii) the Class M Certificates, (iv) the Class B Certificates, (v) the Class C Certificates and (vi) the Class R Certificates. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Excess Reserve Fund Account, the Swap Account and the Interest Rate Swap Agreement) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be the REMIC Certificate Maturity Datecertificated. The following table sets forth characteristics of the Certificates and the ComponentsLTA Variable(2) $ 7,875,000.00 October 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2010 LTB Variable(2) $ 95,000,000.00 October 25, 2010 LTC Variable(2) $ 147,125,000.00 October 25, 2010 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "ComponentsCertificates") shall also constitute "regular interests" ), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of ten classes of certificates, designated as (i) the Class A-1F Certificates, (ii) the Class A-2F Certificates, (iii) the Class A-1A Certificates, (iv) the Class M-1 Certificates, (v) the Class M-2 Certificates, (vi) the Class B-1 Certificates, (vii) the Class B-2 Certificates, (viii) the Class N Certificates, (ix) the Class X Certificates, and (x) the Class R Certificates. The Class A-1A Certificates represent (i) a Regular Interest in REMIC 2 and (ii) the right to receive the Class A-1A LIBOR Carryover Amounts. The Class N and Class X Certificates represent beneficial ownership of the Class X/N Interest, subject to the obligation to pay Rate Payments and Class A-1A LIBOR Carryover Amounts. If the Class N and Class X Certificates are beneficially owned by different Persons, they will be treated as interests in a partnership that holds the Class X/N Interest for federal income tax purposes as described in Section 9.01(n). For federal income tax purposes, the Trust Fund (exclusive of the Class N Reserve Fund and the Excess Reserve Fund Account) will consist of two REMICs, REMIC1 and REMIC 2. REMIC 1 will consist of all interests created hereby of the assets constituting the Trust Fund (exclusive of the Class N Reserve Fund and the Excess Reserve Fund Account) and will be evidenced by the REMIC Certificate Maturity Date1 Regular Interests (which will be uncertificated and will represent the "regular interests" in REMIC 1) and the R-1 Interest as the single "residual interest" in REMIC 1. The following table sets forth characteristics of Trustee will hold the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 regular interests.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of seventeen classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2A Certificates, (iii) the Class A-2B Certificates, (iv) the Class A-2C Certificates, (v) the Class A-M Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class B Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates and (xvii) the Class R Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts and the Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsDate (1) 1-1-A Variable(2) $ 2,549,538.82 January 25, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):2037 1-1-B Variable(2) $ 2,549,538.82 January 25, 2037 1-2-A Variable(2) $ 3,717,238.42 January 25, 2037 1-2-B Variable(2) $ 3,717,238.42 January 25, 2037 1-3-A Variable(2) $ 4,892,153.19 January 25, 2037 1-3-B Variable(2) $ 4,892,153.19 January 25, 2037 1-4-A Variable(2) $ 6,067,186.07 January 25, 2037 1-4-B Variable(2) $ 6,067,186.07 January 25, 2037 1-5-A Variable(2) $ 7,235,055.74 January 25, 2037 1-5-B Variable(2) $ 7,235,055.74 January 25, 2037 1-6-A Variable(2) $ 8,388,251.63 January 25, 2037 1-6-B Variable(2) $ 8,388,251.63 January 25, 2037 1-7-A Variable(2) $ 9,518,782.54 January 25, 2037 1-7-B Variable(2) $ 9,518,782.54 January 25, 2037 1-8-A Variable(2) $ 10,618,869.68 January 25, 2037 1-8-B Variable(2) $ 10,618,869.68 January 25, 2037 1-9-A Variable(2) $ 11,674,956.63 January 25, 2037 1-9-B Variable(2) $ 11,674,956.63 January 25, 2037 1-10-A Variable(2) $ 12,685,264.62 January 25, 2037 1-10-B Variable(2) $ 12,685,264.62 January 25, 2037 1-11-A Variable(2) $ 19,843,227.24 January 25, 2037 1-11-B Variable(2) $ 19,843,227.24 January 25, 2037 1-12-A Variable(2) $ 19,633,382.10 January 25, 2037 1-12-B Variable(2) $ 19,633,382.10 January 25, 2037 1-13-A Variable(2) $ 18,760,949.69 January 25, 2037 1-13-B Variable(2) $ 18,760,949.69 January 25, 2037 1-14-A Variable(2) $ 17,927,901.53 January 25, 2037 1-14-B Variable(2) $ 17,927,901.53 January 25, 2037 1-15-A Variable(2) $ 17,132,434.54 January 25, 2037 1-15-B Variable(2) $ 17,132,434.54 January 25, 2037 1-16-A Variable(2) $ 16,372,829.21 January 25, 2037 1-16-B Variable(2) $ 16,372,829.21 January 25, 2037 1-17-A Variable(2) $ 15,647,445.63 January 25, 2037 1-17-B Variable(2) $ 15,647,445.63 January 25, 2037 1-18-A Variable(2) $ 14,954,719.84 January 25, 2037 1-18-B Variable(2) $ 14,954,719.84 January 25, 2037 1-19-A Variable(2) $ 14,293,160.23 January 25, 2037 1-19-B Variable(2) $ 14,293,160.23 January 25, 2037 1-20-A Variable(2) $ 13,661,344.17 January 25, 2037 1-20-B Variable(2) $ 13,661,344.17 January 25, 2037 1-21-A Variable(2) $ 13,057,914.81 January 25, 2037 1-21-B Variable(2) $ 13,057,914.81 January 25, 2037 1-22-A Variable(2) $ 12,481,577.95 January 25, 2037 1-22-B Variable(2) $ 12,481,577.95 January 25, 2037 1-23-A Variable(2) $ 11,931,059.85 January 25, 2037 1-23-B Variable(2) $ 11,931,059.85 January 25, 2037 1-24-A Variable(2) $ 11,405,259.46 January 25, 2037 1-24-B Variable(2) $ 11,405,259.46 January 25, 2037 1-25-A Variable(2) $ 10,903,022.81 January 25, 2037 1-25-B Variable(2) $ 10,903,022.81 January 25, 2037 1-26-A Variable(2) $ 10,423,272.00 January 25, 2037 1-26-B Variable(2) $ 10,423,272.00 January 25, 2037 1-27-A Variable(2) $ 9,964,985.07 January 25, 2037 1-27-B Variable(2) $ 9,964,985.07 January 25, 2037 1-28-A Variable(2) $ 9,527,187.10 January 25, 2037 1-28-B Variable(2) $ 9,527,187.10 January 25, 2037 1-29-A Variable(2) $ 9,108,947.12 January 25, 2037 1-29-B Variable(2) $ 9,108,947.12 January 25, 2037 1-30-A Variable(2) $ 8,709,379.82 January 25, 2037 1-30-B Variable(2) $ 8,709,379.82 January 25, 2037 1-31-A Variable(2) $ 8,327,637.73 January 25, 2037 1-31-B Variable(2) $ 8,327,637.73 January 25, 2037 1-32-A Variable(2) $ 7,962,913.26 January 25, 2037 1-32-B Variable(2) $ 7,962,913.26 January 25, 2037 1-33-A Variable(2) $ 7,614,433.51 January 25, 2037 1-33-B Variable(2) $ 7,614,433.51 January 25, 2037 1-34-A Variable(2) $ 7,281,468.46 January 25, 2037 1-34-B Variable(2) $ 7,281,468.46 January 25, 2037 1-35-A Variable(2) $ 6,963,273.17 January 25, 2037 1-35-B Variable(2) $ 6,963,273.17 January 25, 2037 1-36-A Variable(2) $ 29,186,152.85 January 25, 2037 1-36-B Variable(2) $ 29,186,152.85 January 25, 2037 1-37-A Variable(2) $ 3,647,994.85 January 25, 2037 1-37-B Variable(2) $ 3,647,994.85 January 25, 2037 1-38-A Variable(2) $ 3,537,412.43 January 25, 2037 1-38-B Variable(2) $ 3,537,412.43 January 25, 2037 1-39-A Variable(2) $ 3,429,898.27 January 25, 2037 1-39-B Variable(2) $ 3,429,898.27 January 25, 2037 1-40-A Variable(2) $ 3,325,895.56 January 25, 2037 1-40-B Variable(2) $ 3,325,895.56 January 25, 2037 1-41-A Variable(2) $ 3,224,662.65 January 25, 2037 1-41-B Variable(2) $ 3,224,662.65 January 25, 2037 1-42-A Variable(2) $ 3,126,795.47 January 25, 2037 1-42-B Variable(2) $ 3,126,795.47 January 25, 2037 1-43-A Variable(2) $ 3,031,927.61 January 25, 2037 1-43-B Variable(2) $ 3,031,927.61 January 25, 2037 1-44-A Variable(2) $ 2,939,557.76 January 25, 2037 1-44-B Variable(2) $ 2,939,557.76 January 25, 2037 1-45-A Variable(2) $ 2,850,364.73 January 25, 2037 1-45-B Variable(2) $ 2,850,364.73 January 25, 2037 1-46-A Variable(2) $ 2,763,619.94 January 25, 2037 1-46-B Variable(2) $ 2,763,619.94 January 25, 2037 1-47-A Variable(2) $ 2,679,754.90 January 25, 2037 1-47-B Variable(2) $ 2,679,754.90 January 25, 2037 1-48-A Variable(2) $ 2,598,028.75 January 25, 2037 1-48-B Variable(2) $ 2,598,028.75 January 25, 2037 1-49-A Variable(2) $ 2,519,038.21 January 25, 2037 1-49-B Variable(2) $ 2,519,038.21 January 25, 2037 1-50-A Variable(2) $ 2,442,472.61 January 25, 2037 1-50-B Variable(2) $ 2,442,472.61 January 25, 2037 1-51-A Variable(2) $ 2,367,956.38 January 25, 2037 1-51-B Variable(2) $ 2,367,956.38 January 25, 2037 1-52-A Variable(2) $ 2,295,876.53 January 25, 2037 1-52-B Variable(2) $ 2,295,876.53 January 25, 2037 1-53-A Variable(2) $ 2,226,020.16 January 25, 2037 1-53-B Variable(2) $ 2,226,020.16 January 25, 2037 1-54-A Variable(2) $ 2,158,316.96 January 25, 2037 1-54-B Variable(2) $ 2,158,316.96 January 25, 2037 1-55-A Variable(2) $ 2,092,529.20 January 25, 2037 1-55-B Variable(2) $ 2,092,529.20 January 25, 2037 1-56-A Variable(2) $ 2,028,696.75 January 25, 2037 1-56-B Variable(2) $ 2,028,696.75 January 25, 2037 1-57-A Variable(2) $ 1,966,942.03 January 25, 2037 1-57-B Variable(2) $ 1,966,942.03 January 25, 2037 1-58-A Variable(2) $ 14,463,060.05 January 25, 2037 1-58-B Variable(2) $ 14,463,060.05 January 25, 2037 1-59-A Variable(2) $ 42,608,933.41 January 25, 2037 1-59-B Variable(2) $ 42,608,933.41 January 25, 2037 1-60-A Variable(2) $ 2,461,937.26 January 25, 2037 1-60-B Variable(2) $ 2,461,937.26 January 25, 2037 1-61-A Variable(2) $ 74,541.83 January 25, 2037 1-61-B Variable(2) $ 74,541.83 January 25, 2037 1-62-A Variable(2) $ 72,267.41 January 25, 2037 1-62-B Variable(2) $ 72,267.41 January 25, 2037 1-63-A Variable(2) $ 70,061.88 January 25, 2037 1-63-B Variable(2) $ 70,061.88 January 25, 2037 1-64-A Variable(2) $ 67,923.14 January 25, 2037 1-64-B Variable(2) $ 67,923.14 January 25, 2037 1-65-A Variable(2) $ 65,849.20 January 25, 2037 1-65-B Variable(2) $ 65,849.20 January 25, 2037 1-66-A Variable(2) $ 63,838.10 January 25, 2037 1-66-B Variable(2) $ 63,838.10 January 25, 2037 1-67-A Variable(2) $ 61,887.95 January 25, 2037 1-67-B Variable(2) $ 61,887.95 January 25, 2037 1-68-A Variable(2) $ 59,996.92 January 25, 2037 1-68-B Variable(2) $ 59,996.92 January 25, 2037 1-69-A Variable(2) $ 58,163.21 January 25, 2037 1-69-B Variable(2) $ 58,163.21 January 25, 2037 1-70-A Variable(2) $ 56,385.12 January 25, 2037 1-70-B Variable(2) $ 56,385.12 January 25, 2037 1-71-A Variable(2) $ 54,660.95 January 25, 2037 1-71-B Variable(2) $ 54,660.95 January 25, 2037 1-72-A Variable(2) $ 52,989.08 January 25, 2037 1-72-B Variable(2) $ 52,989.08 January 25, 2037 1-73-A Variable(2) $ 51,367.94 January 25, 2037 1-73-B Variable(2) $ 51,367.94 January 25, 2037 1-74-A Variable(2) $ 49,796.00 January 25, 2037 1-74-B Variable(2) $ 49,796.00 January 25, 2037 1-75-A Variable(2) $ 48,271.78 January 25, 2037 1-75-B Variable(2) $ 48,271.78 January 25, 2037 1-76-A Variable(2) $ 46,793.82 January 25, 2037 1-76-B Variable(2) $ 46,793.82 January 25, 2037 1-77-A Variable(2) $ 45,360.75 January 25, 2037 1-77-B Variable(2) $ 45,360.75 January 25, 2037 1-78-A Variable(2) $ 43,971.21 January 25, 2037 1-78-B Variable(2) $ 43,971.21 January 25, 2037 1-79-A Variable(2) $ 42,623.87 January 25, 2037 1-79-B Variable(2) $ 42,623.87 January 25, 2037 1-80-A Variable(2) $ 41,317.47 January 25, 2037 1-80-B Variable(2) $ 41,317.47 January 25, 2037 1-81-A Variable(2) $ 40,050.78 January 25, 2037 1-81-B Variable(2) $ 40,050.78 January 25, 2037 1-82-A Variable(2) $ 38,822.59 January 25, 2037 1-82-B Variable(2) $ 38,822.59 January 25, 2037 1-83-A Variable(2) $ 1,212,717.41 January 25, 2037 1-83-B Variable(2) $ 1,212,717.41 January 25, 2037 P Variable(2) $ 100.00 January 25, 2037 OC Variable(2) $ 320,740,082.35 January 25, 2037 ___________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the DSLA Mortgage Loan Trust 2004-AR2, DSLA Mortgage Pass-Through Certificates, Series 2004-AR2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of fifteen classes of certificates, designated as (i) the Class A-1A Certificates, (ii) the Class A-1B Certificates, (iii) the Class A-2A Certificates, (iv) the Class A-2B Certificates, (v) the Class X-1 Certificates, (vi) the Class X-2, (vii) the Class A-R Certificate, (viii) the Class B-1 Certificates, (ix) the Class B-2 Certificates, (x) the Class B-3 Certificates, (xi) the Class B-4 Certificates, (xii) the Class B-5 Certificates, (xiii) the Class B-6 Certificates, (xiv) the Class Y Certificates and (xv) the Class C Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes will be treated as two separate comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the "Upper-Tier REMIC" and alternative, the "“Lower-Tier REMIC," respectively, ” the “Middle-Tier REMIC,” and each, a "the “Upper-Tier REMIC"”). The Senior Certificates (Each Certificate, other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR Y, and Class PO Certificates)C Certificates shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class 30A-1A, Class ▇-B ▇▇, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls. The Class X-2 Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class 4A-B Certificates are referred to collectively as R Certificate represents the "Regular Certificates" ownership of the sole residual interest in each of the Lower-Tier REMIC, the Middle-Tier REMIC, and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO ComponentY Certificates, which will not have a Class 1-IO ComponentPrincipal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the excess, if any, of amounts paid with respect to any Yield Maintenance Agreement in excess of the Yield Maintenance Distributable Amount for such Yield Maintenance Agreement. The Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" Y Certificates will not represent an interest in the Upper-Tier any REMIC. The Uncertificated Class C Certificate shall represent a right to direct the termination of the Trust but shall not represent an interest in any REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier Interests shall constitute in the "Lower-Tier REMIC, other than the Class LT-R Interest, and each such Lower-Tier Interest is hereby designated as a regular interests" interest in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and shall hold as assets the Class 1uncertificated Middle-A-LR Certificate shall be the "residual interest" Tier Interests in the LowerMiddle-Tier REMIC. The Certificates , other than the Class MT-R Interest, and the Uncertificated Lowereach such Middle-Tier Interests will represent the entire beneficial ownership Interest is hereby designated as a regular interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Middle-Tier REMIC..

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple Classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two Classes of Certificates, designated as (i) the Class AF-1A, Class AF-1B, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class B-1 and Class B-2 Certificates, (iv) the Class P Certificates, (v) the Class CE-1 and Class CE-2 Certificates, (vi) the Class R Certificates and (vii) the Class R-X Certificates. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders its interests and rights in the Mortgage Loans. As provided herein, for federal income tax purposes, the Trustee will elect to treat the segregated pools of assets subject to this Agreement (exclusive of the Basis Risk Reserve Fund, the Supplemental Interest Trust and the Swap Account) as ten real estate mortgage investment conduits (each, a “REMIC”): Subsidiary REMIC 1, Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class ▇▇ ▇▇▇▇▇, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” in Subsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in Subsidiary REMIC 1. Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class CE-1, Class CE-2, Class P, Class M-7, Class M-8 and Class B Certificates), the Class CEM Interest, the Class PM Interest, the Class M-7M Interest, the Class M-8M Interest and the two Class BM Interests, which will represent the “regular interests” in the Master REMIC and (ii) the Class MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class ▇▇ ▇▇▇▇▇. The assets of the Class ▇▇ ▇▇▇▇▇ will consist of the Class CEM Interest in the Master REMIC and interests in the Class ▇▇ ▇▇▇▇▇ will be evidenced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class ▇▇ ▇▇▇▇▇ and (ii) the Class CER-X Interest, which will represent the single class of “residual interest” in the Class ▇▇ ▇▇▇▇▇. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold the Class M-7M Interest in the Master REMIC for the benefit of the Class M-7 REMIC. The assets of the Class M-7 REMIC will consist of the Class M-7M Interest in the Master REMIC and interests in the Class M-7 REMIC will be evidenced by (i) the Class M-7 Certificate, which will represent the “regular interest” in the Class M-7 REMIC and (ii) the uncertificated Class M-7R Interest, which will represent the single class of “residual interest” in the Class M-7 REMIC. The Trustee will hold the Class M-8M Interest in the Master REMIC for the benefit of the Class M-8 REMIC. The assets of the Class M-8 REMIC will consist of the Class M-8M Interest in the Master REMIC and interests in the Class M-8 REMIC will be evidenced by (i) the Class M-8 Certificate, which will represent the “regular interest” in the Class M-8 REMIC and (ii) the uncertificated Class M-8R Interest, which will represent the single class of “residual interest” in the Class M-8 REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class SR2, Class IR, and Class MR Interests, and the Class R-X Certificates will represent ownership of the residual interest in each of the Class ▇▇ ▇▇▇▇▇, the Class P REMIC, the Class M-7 REMIC, the Class M-8 REMIC and the two Class B REMICs. The “latest possible maturity date" ” for federal income tax purposes of all REMICs, and regular and residual interests created hereby will be hereunder is the REMIC Certificate Maturity Date. The 36th month following table sets forth characteristics the month of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess scheduled maturity of the minimum denomination):Mortgage Loan held in the Trust Fund as of the Closing Date having the latest maturity date.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty six classes of certificates, designated as (i) the Class 1-A-1-1 Certificates, (ii) the Class 1-A-1-2 Certificates, (iii) the Class 1-A-2A Certificates, (iv) the Class 1-A-2B Certificates, (v) the Class 1-A-2C Certificates,(vi) the Class 2-A-1 Certificates, (vii) the Class 2-A-2 Certificates, (viii) the Class 1-M-1 Certificates, (ix) the Class 1-M-2 Certificates, (x) the Class 1-M-3 Certificates, (xi) the Class 1-M-4 Certificates, (xii) the Class 1-M-5 Certificates, (xiii) the Class 1-M-6 Certificates, (xiv) the Class 1-M-7 Certificates, (x) the Class 1-M-8 Certificates, (xi) the Class 2-M-1 Certificates, (xii) the Class 2-M-2 Certificates, (xiii) the Class 2-M-3 Certificates, (xix) the Class 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificats, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. REMIC 1 As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of Loan Group 1 and certain other related assets (other than the Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the Supplemental Interest Trust, the Swap Account and the Group 1-A-2 Interest Rate Swap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will be the sole class of Residual Interests in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby the REMIC 1 Regular Interests (as defined herein). None of the REMIC 1 Regular Interests will be the certificated. Designation Uncertificated REMIC Certificate 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable Date (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) 1-A-1 Variable(2) $ 130,047,000.00 May 2036 1-A-1-OC Variable(2) $ 9,809,572.11 May 2036 1-A-1-P Variable(2) $ 100.00 May 2036 1-1-A Variable(2) $ 1,219,478.33 May 2036 1-1-B Variable(2) $ 1,219,478.33 May 2036 1-2-A Variable(2) $ 1,689,392.90 May 2036 1-2-B Variable(2) $ 1,689,392.90 May 2036 1-3-A Variable(2) $ 2,161,020.85 May 2036 1-3-B Variable(2) $ 2,161,020.85 May 2036 1-4-A Variable(2) $ 2,631,457.93 May 2036 1-4-B Variable(2) $ 2,631,457.93 May 2036 1-5-A Variable(2) $ 3,097,708.88 May 2036 1-5-B Variable(2) $ 3,097,708.88 May 2036 1-6-A Variable(2) $ 3,556,747.08 May 2036 1-6-B Variable(2) $ 3,556,747.08 May 2036 1-7-A Variable(2) $ 4,005,464.50 May 2036 1-7-B Variable(2) $ 4,005,464.50 May 2036 1-8-A Variable(2) $ 4,440,538.91 May 2036 1-8-B Variable(2) $ 4,440,538.91 May 2036 1-9-A Variable(2) $ 4,859,095.41 May 2036 1-9-B Variable(2) $ 4,859,095.41 May 2036 1-10-A Variable(2) $ 5,137,294.00 May 2036 1-10-B Variable(2) $ 5,137,294.00 May 2036 1-11-A Variable(2) $ 5,358,136.54 May 2036 1-11-B Variable(2) $ 5,358,136.54 May 2036 1-12-A Variable(2) $ 5,425,595.41 May 2036 1-12-B Variable(2) $ 5,425,595.41 May 2036 1-13-A Variable(2) $ 5,261,614.90 May 2036 1-13-B Variable(2) $ 5,261,614.90 May 2036 1-14-A Variable(2) $ 5,102,598.27 May 2036 1-14-B Variable(2) $ 5,102,598.27 May 2036 1-15-A Variable(2) $ 4,948,414.66 May 2036 1-15-B Variable(2) $ 4,948,414.66 May 2036 1-16-A Variable(2) $ 4,798,797.43 May 2036 1-16-B Variable(2) $ 4,798,797.43 May 2036 1-17-A Variable(2) $ 4,653,731.96 May 2036 1-17-B Variable(2) $ 4,653,731.96 May 2036 1-18-A Variable(2) $ 4,512,951.51 May 2036 1-18-B Variable(2) $ 4,512,951.51 May 2036 1-19-A Variable(2) $ 4,376,430.06 May 2036 1-19-B Variable(2) $ 4,376,430.06 May 2036 1-20-A Variable(2) $ 4,244,140.25 May 2036 1-20-B Variable(2) $ 4,244,140.25 May 2036 1-21-A Variable(2) $ 19,707,148.45 May 2036 1-21-B Variable(2) $ 19,707,148.45 May 2036 1-22-A Variable(2) $ 7,767,674.53 May 2036 1-22-B Variable(2) $ 7,767,674.53 May 2036 1-23-A Variable(2) $ 7,531,609.12 May 2036 1-23-B Variable(2) $ 7,531,609.12 May 2036 1-24-A Variable(2) $ 3,050,425.72 May 2036 1-24-B Variable(2) $ 3,050,425.72 May 2036 1-25-A Variable(2) $ 2,958,088.08 May 2036 1-25-B Variable(2) $ 2,958,088.08 May 2036 1-26-A Variable(2) $ 2,868,424.69 May 2036 1-26-B Variable(2) $ 2,868,424.69 May 2036 1-27-A Variable(2) $ 2,781,616.07 May 2036 1-27-B Variable(2) $ 2,781,616.07 May 2036 1-28-A Variable(2) $ 2,697,296.69 May 2036 1-28-B Variable(2) $ 2,697,296.69 May 2036 1-29-A Variable(2) $ 2,615,584.21 May 2036 1-29-B Variable(2) $ 2,615,584.21 May 2036 1-30-A Variable(2) $ 2,536,331.10 May 2036 1-30-B Variable(2) $ 2,536,331.10 May 2036 1-31-A Variable(2) $ 2,459,422.13 May 2036 1-31-B Variable(2) $ 2,459,422.13 May 2036 1-32-A Variable(2) $ 2,384,937.54 May 2036 1-32-B Variable(2) $ 2,384,937.54 May 2036 1-33-A Variable(2) $ 4,266,259.46 May 2036 1-33-B Variable(2) $ 4,266,259.46 May 2036 1-34-A Variable(2) $ 3,159,440.38 May 2036 1-34-B Variable(2) $ 3,159,440.38 May 2036 1-35-A Variable(2) $ 5,017,115.56 May 2036 1-35-B Variable(2) $ 5,017,115.56 May 2036 1-36-A Variable(2) $ 36,172,180.59 May 2036 1-36-B Variable(2) $ 36,172,180.59 May 2036 1-37-A Variable(2) $ 827,402.50 May 2036 1-37-B Variable(2) $ 827,402.50 May 2036 1-38-A Variable(2) $ 802,330.00 May 2036 1-38-B Variable(2) $ 802,330.00 May 2036 1-39-A Variable(2) $ 777,930.00 May 2036 1-39-B Variable(2) $ 777,930.00 May 2036 1-40-A Variable(2) $ 754,337.50 May 2036 1-40-B Variable(2) $ 754,337.50 May 2036 1-41-A Variable(2) $ 731,402.50 May 2036 1-41-B Variable(2) $ 731,402.50 May 2036 1-42-A Variable(2) $ 709,172.50 May 2036 1-42-B Variable(2) $ 709,172.50 May 2036 1-43-A Variable(2) $ 687,667.50 May 2036 1-43-B Variable(2) $ 687,667.50 May 2036 1-44-A Variable(2) $ 666,715.00 May 2036 1-44-B Variable(2) $ 666,715.00 May 2036 1-45-A Variable(2) $ 646,492.50 May 2036 1-45-B Variable(2) $ 646,492.50 May 2036 1-46-A Variable(2) $ 626,802.50 May 2036 1-46-B Variable(2) $ 626,802.50 May 2036 1-47-A Variable(2) $ 607,775.00 May 2036 1-47-B Variable(2) $ 607,775.00 May 2036 1-48-A Variable(2) $ 589,260.00 May 2036 1-48-B Variable(2) $ 589,260.00 May 2036 1-49-A Variable(2) $ 571,322.50 May 2036 1-49-B Variable(2) $ 571,322.50 May 2036 1-50-A Variable(2) $ 553,955.00 May 2036 1-50-B Variable(2) $ 553,955.00 May 2036 1-51-A Variable(2) $ 537,065.00 May 2036 1-51-B Variable(2) $ 537,065.00 May 2036 1-52-A Variable(2) $ 520,720.00 May 2036 1-52-B Variable(2) $ 520,720.00 May 2036 1-53-A Variable(2) $ 504,870.00 May 2036 1-53-B Variable(2) $ 504,870.00 May 2036 1-54-A Variable(2) $ 489,502.50 May 2036 1-54-B Variable(2) $ 489,502.50 May 2036 1-55-A Variable(2) $ 474,592.50 May 2036 1-55-B Variable(2) $ 474,592.50 May 2036 1-56-A Variable(2) $ 460,107.50 May 2036 1-56-B Variable(2) $ 460,107.50 May 2036 1-57-A Variable(2) $ 3,682,367.50 May 2036 1-57-B Variable(2) $ 3,682,367.50 May 2036 1-58-A Variable(2) $ 1,719,787.50 May 2036 1-58-B Variable(2) $ 1,719,787.50 May 2036 1-59-A Variable(2) $ 8,139,465.00 May 2036 1-59-B Variable(2) $ 8,139,465.00 May 2036 1-60-A Variable(2) $ 954,020.00 May 2036 1-60-B Variable(2) $ 954,020.00 May 2036 1-A-2-OC Variable(2) $ 86,764,971.66 May 2036 ___________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component sell pass‑through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II‑A4 Certificates, (vi) the Class M‑1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M‑4 Certificates, (x) the Class M‑5 Certificates, (xi) the Class M‑6 Certificates, (xii) the Class M‑7 Certificates, (xiii) the Class M‑8 Certificates, (xiv) the Class M‑9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class B Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $76,414,071.06 Variable2 N/A December 2046 I-5-B 383,696.98 Variable2 December 2046 I-6-B 637,294.15 Variable2 December 2046 I-7-B 932,708.98 Variable2 December 2046 I-13-B 3,740,251.85 Variable2 December 2046 I-20-B 2,646,246.86 Variable2 December 2046 I-23-B 4,834,504.15 Variable2 December 2046 I-24-B 5,173,758.71 Variable2 December 2046 I-25-B 4,255,081.30 Variable2 December 2046 I-26-A 3,276,601.33 Variable2 February 2009 December 2046 I-26-B 3,276,601.33 Variable2 December 2046 I-27-A 2,696,345.95 Variable2 March 2009 December 2046 I-27-B 2,696,345.95 Variable2 December 2046 I-29-B 2,015,277.41 Variable2 December 2046 I-35-A 279,556.88 Variable2 November 2009 December 2046 I-35-B 279,556.88 Variable2 December 2046 I-38-A 1,398,727.50 Variable2 February 2010 December 2046 I-38-B 1,398,727.50 Variable2 December 2046 I-39-A 1,316,615.34 Variable2 March 2010 December 2046 I-39-B 1,316,615.34 Variable2 December 2046 I-41-B 1,190,632.29 Variable2 December 2046 I-42-A 1,103,817.96 Variable2 June 2010 December 2046 I-42-B 1,103,817.96 Variable2 December 2046 I-44-A 929,160.54 Variable2 August 2010 December 2046 I-44-B 929,160.54 Variable2 December 2046 I-45-A 894,250.67 Variable2 September 2010 December 2046 I-45-B 894,250.67 Variable2 December 2046 I-47-B 929,130.63 Variable2 December 2046 I-48-B 959,391.73 Variable2 December 2046 I-49-A 905,256.00 Variable2 January 2011 December 2046 I-49-B 905,256.00 Variable2 December 2046 I-50-A 863,544.27 Variable2 February 2011 December 2046 I-50-B 863,544.27 Variable2 December 2046 I-51-A 923,470.03 Variable2 March 2011 December 2046 I-51-B 923,470.03 Variable2 December 2046 I-52-A 844,356.87 Variable2 April 2011 December 2046 I-52-B 844,356.87 Variable2 December 2046 I-53-B 789,040.70 Variable2 December 2046 I-54-B 790,303.57 Variable2 December 2046 I-55-A 708,832.91 Variable2 July 2011 December 2046 I-55-B 708,832.91 Variable2 December 2046 I-56-A 642,949.40 Variable2 August 2011 December 2046 I-56-B 642,949.40 Variable2 December 2046 I-57-A 591,224.58 Variable2 September 2011 December 2046 I-57-B 591,224.58 Variable2 December 2046 I-58-A 528,942.03 Variable2 October 2011 December 2046 I-58-B 528,942.03 Variable2 December 2046 IIX3 138,177,628.52 Variable2 N/A December 2046 II-3-B 2,896,969.33 Variable2 December 2046 II-5-B 693,829.52 Variable2 December 2046 II-6-B 1,152,402.85 Variable2 December 2046 II-7-B 1,686,594.02 Variable2 December 2046 II-8-B 2,224,305.11 Variable2 December 2046 II-10-B 3,743,184.86 Variable2 December 2046 II-11-B 6,264,815.82 Variable2 December 2046 II-13-B 6,763,402.65 Variable2 December 2046 II-14-B 6,542,388.13 Variable2 December 2046 II-15-B 6,334,222.82 Variable2 December 2046 II-17-B 5,648,418.34 Variable2 December 2046 II-18-A 5,365,337.38 Variable2 June 2008 December 2046 II-18-B 5,365,337.38 Variable2 December 2046 II-19-A 5,054,768.90 Variable2 July 2008 December 2046 II-19-B 5,054,768.90 Variable2 December 2046 II-20-A 4,785,141.14 Variable2 August 2008 December 2046 II-20-B 4,785,141.14 Variable2 December 2046 II-21-A 2,927,415.62 Variable2 September 2008 December 2046 II-21-B 2,927,415.62 Variable2 December 2046 II-22-B 52,985,851.24 Variable2 December 2046 II-23-B 8,742,111.35 Variable2 December 2046 II-24-B 9,355,576.79 Variable2 December 2046 II-25-A 7,694,355.70 Variable2 January 2009 December 2046 II-25-B 7,694,355.70 Variable2 December 2046 II-26-B 5,924,995.17 Variable2 December 2046 II-27-A 4,875,734.05 Variable2 March 2009 December 2046 II-27-B 4,875,734.05 Variable2 December 2046 II-28-A 4,185,506.88 Variable2 April 2009 December 2046 II-28-B 4,185,506.88 Variable2 December 2046 II-29-A 3,644,175.09 Variable2 May 2009 December 2046 II-29-B 3,644,175.09 Variable2 December 2046 II-30-A 3,091,225.23 Variable2 June 2009 December 2046 II-30-B 3,091,225.23 Variable2 December 2046 II-31-B 2,897,846.34 Variable2 December 2046 II-33-B 2,661,166.46 Variable2 December 2046 II-34-B 3,598,504.20 Variable2 December 2046 II-35-A 505,515.62 Variable2 November 2009 December 2046 II-35-B 505,515.62 Variable2 December 2046 II-36-B 5,018,453.05 Variable2 December 2046 II-37-B 2,644,369.44 Variable2 December 2046 II-38-A 2,529,283.50 Variable2 February 2010 December 2046 II-38-B 2,529,283.50 Variable2 December 2046 II-39-A 2,380,802.16 Variable2 March 2010 December 2046 II-39-B 2,380,802.16 Variable2 December 2046 II-40-A 2,260,950.32 Variable2 April 2010 December 2046 II-40-B 2,260,950.32 Variable2 December 2046 II-41-A 2,152,990.21 Variable2 May 2010 December 2046 II-41-B 2,152,990.21 Variable2 December 2046 II-42-A 1,996,006.04 Variable2 June 2010 December 2046 II-42-B 1,996,006.04 Variable2 December 2046 II-43-A 1,888,554.29 Variable2 July 2010 December 2046 II-43-B 1,888,554.29 Variable2 December 2046 II-44-B 1,680,177.46 Variable2 December 2046 II-45-B 1,617,050.83 Variable2 December 2046 II-47-B 1,680,123.37 Variable2 December 2046 II-48-A 1,734,843.77 Variable2 December 2010 December 2046 II-48-B 1,734,843.77 Variable2 December 2046 II-49-A 1,636,951.50 Variable2 January 2011 December 2046 II-49-B 1,636,951.50 Variable2 December 2046 II-50-A 1,561,525.23 Variable2 February 2011 December 2046 II-50-B 1,561,525.23 Variable2 December 2046 II-51-A 1,669,887.47 Variable2 March 2011 December 2046 II-51-B 1,669,887.47 Variable2 December 2046 II-52-A 1,526,829.13 Variable2 April 2011 December 2046 II-52-B 1,526,829.13 Variable2 December 2046 II-53-B 1,426,802.30 Variable2 December 2046 II-55-A 1,281,764.59 Variable2 July 2011 December 2046 II-55-B 1,281,764.59 Variable2 December 2046 II-56-A 1,162,629.10 Variable2 August 2011 December 2046 II-56-B 1,162,629.10 Variable2 December 2046 II-57-A 1,069,096.42 Variable2 September 2011 December 2046 II-57-B 1,069,096.42 Variable2 December 2046 II-58-A 956,472.47 Variable2 October 2011 December 2046 II-58-B 956,472.47 Variable2 December 2046 II-59-B 14,069,015.07 Variable2 December 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $494,017,938.05 Variable2 December 2046 A-IA 1,441,900.00 Variable2 December 2046 A-IIA1 1,064,015.00 Variable2 December 2046 A-IIA2 476,050.00 Variable2 December 2046 A-IIA3 788,800.00 Variable2 December 2046 A-IIA4 274,640.00 Variable2 December 2046 M1 161,310.00 Variable2 December 2046 M2 153,750.00 Variable2 December 2046 M3 93,260.00 Variable2 December 2046 M4 83,175.00 Variable2 December 2046 M5 80,655.00 Variable2 December 2046 M6 75,615.00 Variable2 December 2046 M7 70,575.00 Variable2 December 2046 M8 42,850.00 Variable2 December 2046 M9 40,330.00 Variable2 December 2046 M10 30,245.00 Variable2 December 2046 B 50,410.00 Variable2 December 2046 ZZ 5,154,418.74 Variable2 December 2046 1GRP 35,901.04 Variable2 December 2046 1SUB 7,063.04 Variable2 December 2046 2GRP 64,918.95 Variable2 December 2046 2SUB 12,848.85 Variable2 December 2046 Swap IO N/A3 Variable2 December 2046 FMR IO N/A4 Variable2 December 2046 XX 503,979,204.92 Variable2 December 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC Certificate Maturity Date1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 3.” The Class R‑3 Interest represents the sole class of “residual interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth characteristics of (or describes) the Certificates Class designation, Pass-Through Rate and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Original Class Certificate of Principal Balance for each Class of Certificates may be issued in any amount in excess that represents one or more of the minimum denomination):“regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 I‑A $288,380,000.00 Variable2 December 2046 II-A1 212,803,000.00 Variable2 December 2046 II-A2 95,210,000.00 Variable2 December 2046 II-A3 157,760,000.00 Variable2 December 2046 II-A4 54,928,000.00 Variable2 December 2046 M‑1 32,262,000.00 Variable2 December 2046 M‑2 30,750,000.00 Variable2 December 2046 M‑3 18,652,000.00 Variable2 December 2046 M‑4 16,635,000.00 Variable2 December 2046 M‑5 16,131,000.00 Variable2 December 2046 M‑6 15,123,000.00 Variable2 December 2046 M‑7 14,115,000.00 Variable2 December 2046 M‑8 8,570,000.00 Variable2 December 2046 M‑9 8,066,000.00 Variable2 December 2046 M-10 6,049,000.00 Variable2 December 2046 B 10,082,000.00 Variable2 December 2046 Swap IO N/A Variable5 December 2046 FM Reserve IO N/A Variable5 December 2046 Class C Interest3 22,683,773.58 Variable2 December 2046 Class P Interest $100.00 N/A4 December 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC 2 Regular Interests. The Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the interest paid on REMIC 2 Regular Interests Swap IO and FMR IO, respectively. These interests will not be certificated.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "Certificates will consist of twenty-one classes of certificates, designated as (i) the Class I-A Certificates, (ii) the Class II-A1 Certificates, (iii) the Class II-A2 Certificates, (iv) the Class II-A3 Certificates, (v) the Class II-A4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class C Certificates, (xvi) the Class P Certificates, (xvii) the Class R Certificates, (xviii) the Class R-CX Certificates and (xix) the Class R-PX Certificates. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 IX $129,509,320.86 Variable2 May 25, 2047 I-1-A $ 1,955,190.52 Variable2 May 25, 2047 I-1-B $ 1,955,190.52 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-2-B $ 2,478,702.37 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-3-B $ 2,936,857.68 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-4-B $ 3,383,948.09 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-5-B $ 1,086,748.06 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,533,744.66 Variable2 May 25, 2047 I-6-B $ 1,533,744.66 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,933,650.21 Variable2 May 25, 2047 I-7-B $ 1,933,650.21 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 2,365,426.69 Variable2 May 25, 2047 I-8-B $ 2,365,426.69 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-9-B $ 3,103,020.97 Variable2 May 25, 2047 I-10-B $ 4,330,930.90 Variable2 May 25, 2047 I-11-A $ 5,518,260.80 Variable2 May 25, 2047 I-11-B $ 5,518,260.80 Variable2 May 25, 2047 I-12-A $ 5,812,419.67 Variable2 May 25, 2047 I-12-B $ 5,812,419.67 Variable2 May 25, 2047 I-13-A $ 5,579,166.42 Variable2 May 25, 2047 I-13-B $ 5,579,166.42 Variable2 May 25, 2047 I-14-A $ 5,259,276.62 Variable2 May 25, 2047 I-14-B $ 5,259,276.62 Variable2 May 25, 2047 I-15-A $ 4,946,674.17 Variable2 May 25, 2047 I-15-B $ 4,946,674.17 Variable2 May 25, 2047 I-16-A $ 4,677,720.88 Variable2 May 25, 2047 I-16-B $ 4,677,720.88 Variable2 May 25, 2047 I-17-A $ 4,478,668.50 Variable2 May 25, 2047 I-17-B $ 4,478,668.50 Variable2 May 25, 2047 I-18-A $ 4,273,483.34 Variable2 May 25, 2047 I-18-B $ 4,273,483.34 Variable2 May 25, 2047 I-19-A $ 4,049,969.15 Variable2 May 25, 2047 I-19-B $ 4,049,969.15 Variable2 May 25, 2047 I-20-A $ 3,835,204.58 Variable2 May 25, 2047 I-20-B $ 3,835,204.58 Variable2 May 25, 2047 I-21-A $ 4,830,929.47 Variable2 May 25, 2047 I-21-B $ 4,830,929.47 Variable2 May 25, 2047 I-22-B $ 59,187,491.39 Variable2 May 25, 2047 I-23-A $ 6,003,384.40 Variable2 May 25, 2047 I-23-B $ 6,003,384.40 Variable2 May 25, 2047 I-24-A $ 5,129,553.91 Variable2 May 25, 2047 I-24-B $ 5,129,553.91 Variable2 May 25, 2047 I-25-A $ 4,219,558.16 Variable2 May 25, 2047 I-25-B $ 4,219,558.16 Variable2 May 25, 2047 I-26-A $ 3,618,746.37 Variable2 May 25, 2047 I-26-B $ 3,618,746.37 Variable2 May 25, 2047 I-27-A $ 3,195,050.89 Variable2 May 25, 2047 I-27-B $ 3,195,050.89 Variable2 May 25, 2047 I-28-A $ 2,877,192.27 Variable2 May 25, 2047 I-28-B $ 2,877,192.27 Variable2 May 25, 2047 I-29-A $ 2,606,574.65 Variable2 May 25, 2047 I-29-B $ 2,606,574.65 Variable2 May 25, 2047 I-30-A $ 2,445,444.33 Variable2 May 25, 2047 I-30-B $ 2,445,444.33 Variable2 May 25, 2047 I-31-A $ 2,316,424.69 Variable2 May 25, 2047 I-31-B $ 2,316,424.69 Variable2 May 25, 2047 I-32-A $ 2,217,421.38 Variable2 May 25, 2047 I-32-B $ 2,217,421.38 Variable2 May 25, 2047 I-33-A $ 2,593,673.98 Variable2 May 25, 2047 I-33-B $ 2,593,673.98 Variable2 May 25, 2047 I-34-A $ 3,138,512.27 Variable2 May 25, 2047 I-34-B $ 3,138,512.27 Variable2 May 25, 2047 I-35-A $ 424,034.75 Variable2 May 25, 2047 I-35-B $ 424,034.75 Variable2 May 25, 2047 I-36-A $ 4,372,967.67 Variable2 May 25, 2047 I-36-B $ 4,372,967.67 Variable2 May 25, 2047 I-37-A $ 2,121,274.28 Variable2 May 25, 2047 I-37-B $ 2,121,274.28 Variable2 May 25, 2047 I-38-A $ 1,961,580.35 Variable2 May 25, 2047 I-38-B $ 1,961,580.35 Variable2 May 25, 2047 I-39-A $ 1,817,984.10 Variable2 May 25, 2047 I-39-B $ 1,817,984.10 Variable2 May 25, 2047 I-40-A $ 1,697,199.39 Variable2 May 25, 2047 I-40-B $ 1,697,199.39 Variable2 May 25, 2047 I-41-A $ 1,593,754.09 Variable2 May 25, 2047 I-41-B $ 1,593,754.09 Variable2 May 25, 2047 I-42-A $ 1,490,041.84 Variable2 May 25, 2047 I-42-B $ 1,490,041.84 Variable2 May 25, 2047 I-43-A $ 1,396,433.02 Variable2 May 25, 2047 I-43-B $ 1,396,433.02 Variable2 May 25, 2047 I-44-A $ 1,291,816.38 Variable2 May 25, 2047 I-44-B $ 1,291,816.38 Variable2 May 25, 2047 I-45-A $ 1,257,902.84 Variable2 May 25, 2047 I-45-B $ 1,257,902.84 Variable2 May 25, 2047 I-46-B $ 1,224,724.15 Variable2 May 25, 2047 I-47-A $ 1,183,164.01 Variable2 May 25, 2047 I-47-B $ 1,183,164.01 Variable2 May 25, 2047 I-48-A $ 1,154,768.08 Variable2 May 25, 2047 I-48-B $ 1,154,768.08 Variable2 May 25, 2047 I-49-A $ 1,121,669.11 Variable2 May 25, 2047 I-49-B $ 1,121,669.11 Variable2 May 25, 2047 I-50-A $ 1,099,979.62 Variable2 May 25, 2047 I-50-B $ 1,099,979.62 Variable2 May 25, 2047 I-51-A $ 1,072,576.92 Variable2 May 25, 2047 I-51-B $ 1,072,576.92 Variable2 May 25, 2047 I-52-A $ 1,045,428.43 Variable2 May 25, 2047 I-52-B $ 1,045,428.43 Variable2 May 25, 2047 I-53-A $ 1,018,205.92 Variable2 May 25, 2047 I-53-B $ 1,018,205.92 Variable2 May 25, 2047 I-54-A $ 991,121.37 Variable2 May 25, 2047 I-54-B $ 991,121.37 Variable2 May 25, 2047 I-55-A $ 964,810.47 Variable2 May 25, 2047 I-55-B $ 964,810.47 Variable2 May 25, 2047 I-56-A $ 928,957.07 Variable2 May 25, 2047 I-56-B $ 928,957.07 Variable2 May 25, 2047 I-57-A $ 891,368.93 Variable2 May 25, 2047 I-57-B $ 891,368.93 Variable2 May 25, 2047 I-58-A $ 852,206.84 Variable2 May 25, 2047 I-58-B $ 852,206.84 Variable2 May 25, 2047 I-59-A $ 27,587,521.32 Variable2 May 25, 2047 I-59-B $ 27,587,521.32 Variable2 May 25, 2047 IIX $210,811,616.18 Variable2 May 25, 2047 II-1-A $ 3,182,601.48 Variable2 May 25, 2047 II-1-B $ 3,182,601.48 Variable2 May 25, 2047 II-2-A $ 4,034,758.63 Variable2 May 25, 2047 II-2-B $ 4,034,758.63 Variable2 May 25, 2047 II-3-A $ 4,780,530.32 Variable2 May 25, 2047 II-3-B $ 4,780,530.32 Variable2 May 25, 2047 II-4-A $ 5,508,290.91 Variable2 May 25, 2047 II-4-B $ 5,508,290.91 Variable2 May 25, 2047 II-5-A $ 1,768,976.44 Variable2 May 25, 2047 II-5-B $ 1,768,976.44 Variable2 May 25, 2047 II-6-A $ 2,496,584.34 Variable2 May 25, 2047 II-6-B $ 2,496,584.34 Variable2 May 25, 2047 II-7-A $ 3,147,538.79 Variable2 May 25, 2047 II-7-B $ 3,147,538.79 Variable2 May 25, 2047 II-8-A $ 3,850,371.81 Variable2 May 25, 2047 II-8-B $ 3,850,371.81 Variable2 May 25, 2047 II-9-A $ 5,051,006.03 Variable2 May 25, 2047 II-9-B $ 5,051,006.03 Variable2 May 25, 2047 II-10-A $ 7,049,761.60 Variable2 May 25, 2047 II-10-B $ 7,049,761.60 Variable2 May 25, 2047 II-11-A $ 8,982,462.20 Variable2 May 25, 2047 II-11-B $ 8,982,462.20 Variable2 May 25, 2047 II-12-A $ 9,461,285.33 Variable2 May 25, 2047 II-12-B $ 9,461,285.33 Variable2 May 25, 2047 II-13-A $ 9,081,602.58 Variable2 May 25, 2047 II-13-B $ 9,081,602.58 Variable2 May 25, 2047 II-14-A $ 8,560,895.38 Variable2 May 25, 2047 II-14-B $ 8,560,895.38 Variable2 May 25, 2047 II-15-A $ 8,052,050.33 Variable2 May 25, 2047 II-15-B $ 8,052,050.33 Variable2 May 25, 2047 II-16-A $ 7,614,256.12 Variable2 May 25, 2047 II-16-B $ 7,614,256.12 Variable2 May 25, 2047 II-17-A $ 7,290,244.50 Variable2 May 25, 2047 II-17-B $ 7,290,244.50 Variable2 May 25, 2047 II-18-A $ 6,956,250.16 Variable2 May 25, 2047 II-18-B $ 6,956,250.16 Variable2 May 25, 2047 II-19-A $ 6,592,420.35 Variable2 May 25, 2047 II-19-B $ 6,592,420.35 Variable2 May 25, 2047 II-20-A $ 6,242,832.92 Variable2 May 25, 2047 II-20-B $ 6,242,832.92 Variable2 May 25, 2047 II-21-A $ 7,863,644.53 Variable2 May 25, 2047 II-21-B $ 7,863,644.53 Variable2 May 25, 2047 II-22-A $ 6,343,653.11 Variable2 May 25, 2047 II-22-B $ 96,343,653.11 Variable2 May 25, 2047 II-23-A $ 9,772,132.10 Variable2 May 25, 2047 II-23-B $ 9,772,132.10 Variable2 May 25, 2047 II-24-A $ 8,349,736.59 Variable2 May 25, 2047 II-24-B $ 8,349,736.59 Variable2 May 25, 2047 II-25-A $ 6,868,472.34 Variable2 May 25, 2047 II-25-B $ 6,868,472.34 Variable2 May 25, 2047 II-26-A $ 5,890,488.63 Variable2 May 25, 2047 II-26-B $ 5,890,488.63 Variable2 May 25, 2047 II-27-A $ 5,200,809.61 Variable2 May 25, 2047 II-27-B $ 5,200,809.61 Variable2 May 25, 2047 II-28-A $ 4,683,408.73 Variable2 May 25, 2047 II-28-B $ 4,683,408.73 Variable2 May 25, 2047 II-29-A $ 4,242,905.35 Variable2 May 25, 2047 II-29-B $ 4,242,905.35 Variable2 May 25, 2047 II-30-A $ 3,980,622.17 Variable2 May 25, 2047 II-30-B $ 3,980,622.17 Variable2 May 25, 2047 II-31-A $ 3,770,607.81 Variable2 May 25, 2047 II-31-B $ 3,770,607.81 Variable2 May 25, 2047 II-32-A $ 3,609,453.12 Variable2 May 25, 2047 II-32-B $ 3,609,453.12 Variable2 May 25, 2047 II-33-A $ 4,221,906.02 Variable2 May 25, 2047 II-33-B $ 4,221,906.02 Variable2 May 25, 2047 II-34-A $ 5,108,777.73 Variable2 May 25, 2047 II-34-B $ 5,108,777.73 Variable2 May 25, 2047 II-35-A $ 690,231.25 Variable2 May 25, 2047 II-35-B $ 690,231.25 Variable2 May 25, 2047 II-36-A $ 7,118,187.83 Variable2 May 25, 2047 II-36-B $ 7,118,187.83 Variable2 May 25, 2047 II-37-A $ 3,452,947.72 Variable2 May 25, 2047 II-37-B $ 3,452,947.72 Variable2 May 25, 2047 II-38-A $ 3,193,002.65 Variable2 May 25, 2047 II-38-B $ 3,193,002.65 Variable2 May 25, 2047 II-39-A $ 2,959,260.90 Variable2 May 25, 2047 II-39-B $ 2,959,260.90 Variable2 May 25, 2047 II-40-A $ 2,762,651.11 Variable2 May 25, 2047 II-40-B $ 2,762,651.11 Variable2 May 25, 2047 II-41-A $ 2,594,265.91 Variable2 May 25, 2047 II-41-B $ 2,594,265.91 Variable2 May 25, 2047 II-42-A $ 2,425,446.16 Variable2 May 25, 2047 II-42-B $ 2,425,446.16 Variable2 May 25, 2047 II-43-A $ 2,273,072.48 Variable2 May 25, 2047 II-43-B $ 2,273,072.48 Variable2 May 25, 2047 II-44-A $ 2,102,780.62 Variable2 May 25, 2047 II-44-B $ 2,102,780.62 Variable2 May 25, 2047 II-45-A $ 2,047,577.16 Variable2 May 25, 2047 II-45-B $ 2,047,577.16 Variable2 May 25, 2047 II-46-A $ 1,993,569.85 Variable2 May 25, 2047 II-46-B $ 1,993,569.85 Variable2 May 25, 2047 II-47-A $ 1,925,919.49 Variable2 May 25, 2047 II-47-B $ 1,925,919.49 Variable2 May 25, 2047 II-48-A $ 1,879,697.42 Variable2 May 25, 2047 II-48-B $ 1,879,697.42 Variable2 May 25, 2047 II-49-A $ 1,825,819.89 Variable2 May 25, 2047 II-49-B $ 1,825,819.89 Variable2 May 25, 2047 II-50-A $ 1,790,514.38 Variable2 May 25, 2047 II-50-B $ 1,790,514.38 Variable2 May 25, 2047 II-51-A $ 1,745,909.08 Variable2 May 25, 2047 II-51-B $ 1,745,909.08 Variable2 May 25, 2047 II-52-A $ 1,701,717.57 Variable2 May 25, 2047 II-52-B $ 1,701,717.57 Variable2 May 25, 2047 II-53-A $ 1,657,405.58 Variable2 May 25, 2047 II-53-B $ 1,657,405.58 Variable2 May 25, 2047 II-54-A $ 1,613,318.13 Variable2 May 25, 2047 II-54-B $ 1,613,318.13 Variable2 May 25, 2047 II-55-A $ 1,570,490.03 Variable2 May 25, 2047 II-55-B $ 1,570,490.03 Variable2 May 25, 2047 II-56-A $ 1,512,128.93 Variable2 May 25, 2047 II-56-B $ 1,512,128.93 Variable2 May 25, 2047 II-57-A $ 1,450,944.07 Variable2 May 25, 2047 II-57-B $ 1,450,944.07 Variable2 May 25, 2047 II-58-A $ 1,387,197.16 Variable2 May 25, 2047 II-58-B $ 1,387,197.16 Variable2 May 25, 2047 II-59-A $ 44,906,153.68 Variable2 May 25, 2047 II-59-B $ 44,906,153.68 Variable2 May 25, 2047 P $ 100.00 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R-2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Certificates and REMIC 2 Regular Interests. None of the ComponentsREMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $780,895,878.44 Variable2 May 25, together 2047 A-IA $ 2,457,750.00 Variable2 May 25, 2047 A-IIA1 $ 1,787,125.00 Variable2 May 25, 2047 A-IIA2 $ 626,610.00 Variable2 May 25, 2047 A-IIA3 $ 997,070.00 Variable2 May 25, 2047 A-IIA4 $ 589,775.00 Variable2 May 25, 2047 M1 $ 254,985.00 Variable2 May 25, 2047 M2 $ 223,115.00 Variable2 May 25, 2047 M3 $ 135,460.00 Variable2 May 25, 2047 M4 $ 119,525.00 Variable2 May 25, 2047 M5 $ 115,540.00 Variable2 May 25, 2047 M6 $ 107,570.00 Variable2 May 25, 2047 M7 $ 103,590.00 Variable2 May 25, 2047 M8 $ 63,745.00 Variable2 May 25, 2047 M9 $ 87,655.00 Variable2 May 25, 2047 ZZ $ 8,267,135.58 Variable2 May 25, 2047 1GRP $ 11,492.04 Variable2 May 25, 2047 1SUB $ 60,647.04 Variable2 May 25, 2047 2GRP $ 18,707.87 Variable2 May 25, 2047 2SUB $ 98,719.47 Variable2 May 25, 2047 Swap IO N/A3 Variable2 May 25, 2047 FMR IO N/A4 Variable2 May 25, 2047 XX $796,642,962.59 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the minimum denominations and integral multiples latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in excess thereof in which accordance with the Classes definition of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount in excess of the minimum denomination):but will accrue interest on its Uncertificated Notional Amount, as defined herein.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2005-2 Mortgage Loan Pass-Through Certificates, Series 2005-2 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of fifteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A-1A Certificates, (iii) the Class 2-A-1B Certificates, (iv) the Class 2-A-1C Certificates, (v) the Class 2-A-2 Certificates, (vi) the Class X Certificates, (vii) the Class PO Certificates, (viii) the Class A-R Certificates, (ix) the Class B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates and (xv) the Class Y Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate, shall represent ownership of all interests created hereby will be a regular interest in the REMIC Certificate Maturity DateUpper-Tier REMIC, as described herein. In addition, (i) the Class 1-A, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class 2-A-2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class 2-A-2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The following table sets forth characteristics owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund and the Components, together with Yield Maintenance Account. The Class A-R Certificate represents the minimum denominations and integral multiples sole class of residual interest in excess thereof in which the Classes of Certificates each REMIC. The Lower-Tier REMIC shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess hold as assets all property of the minimum denomination):Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.

PRELIMINARY STATEMENT. In exchange for The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of twenty Classes of Certificates, designated as (i) the Class AV, Class AF-1, Class AF-2, Class AF-3 and Class AF-4 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, (iii) the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class P Certificates, (v) the Class CE Certificates, (vi) the Class R Certificates and (vii) the Class R-X Certificates. The Depositor hereby conveys the Trust Estate assigns to the Trustee to create Trustee, acting on behalf of the TrustCertificateholders its interests and rights in the Mortgage Loans. The Trust Estate As provided herein, for federal income tax purposes purposes, the Trustee will be treated elect to treat the segregated pools of assets subject to this Agreement (exclusive of the Senior Cap Account, the Mezzanine Cap Account, the Basis Risk Reserve Fund and the Final Maturity Reserve Fund) as two separate nine real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than ): the Class CB-IOSubsidiary REMIC, Class SESthe Intermediate REMIC, Class 1-A-R, Class 1-A-LR and Class PO Certificates)the Master REMIC, the Class 30-B Certificates ▇▇ ▇▇▇▇▇, the Class P REMIC and the four Class 4-B Certificates are referred to collectively as REMICs. The Subsidiary REMIC will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans. The Subsidiary REMIC will issue (1) the REMIC regular interests (the "Subsidiary REMIC Regular Certificates" Interests") and shall constitute "regular interests" in (2) the Upper-Tier REMICSR Interest. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, Subsidiary REMIC Regular Interests will be uncertificated and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute will represent the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be Subsidiary REMIC and the SR Interest will represent the single class of "residual interest" in the Upper-Tier Subsidiary REMIC. The Trustee will hold the Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the "regular interests" in the Intermediate REMIC and (ii) the Class 1-A-LR Certificate shall be IR Interest, which will represent the single class of "residual interest" in the Lower-Tier Intermediate REMIC. The Certificates Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the Uncertificated Lower-Tier Interests interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class CE, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class BM Interests, which will represent the entire beneficial ownership "regular interests" in the Master REMIC and (ii) the Class MR Interest, which will represent the single class of "residual interest" in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class ▇▇ ▇▇▇▇▇. The assets of the Class ▇▇ ▇▇▇▇▇ will consist of the Class CEM Interest in the Master REMIC and interests in the Class ▇▇ ▇▇▇▇▇ will be evidenced by (i) the Class CE Certificate, which will represent the "regular interests" in the Class ▇▇ ▇▇▇▇▇ and (ii) the Class CER-X Interest, which will represent the single class of "residual interest" in the Class ▇▇ ▇▇▇▇▇. The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the "regular interests" in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of "residual interest" in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the "regular interest" in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of "residual interest" in that Class B REMIC. The Class R Certificates will represent the Class SR, Class IR and Class MR Interests, and the Class R-X Certificates will represent the residual interest in each of the TrustClass ▇▇ ▇▇▇▇▇, Class P REMIC and four Class B REMICs. The "latest possible maturity date" for federal income tax purposes of all REMICs, and regular and residual interests created hereby hereunder will be the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics Subsidiary REMIC -------------------- The Subsidiary REMIC Interests, each of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each for the Class of Certificates may be issued SR Interests) is hereby designated a REMIC regular interest for federal income tax purposes, will have the principal balances, pass-through rates and Corresponding Loan Groups as set forth in any amount in excess of the minimum denomination):following table:

PRELIMINARY STATEMENT. In exchange for Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-10 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates, to be issued hereunder in multiple classes, which in the Depositor hereby conveys aggregate will evidence the entire beneficial ownership interest in the Trust Estate to the Trustee to create the TrustFund. The Trust Estate for Certificates will consist of sixteen classes of certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class 1A-1B Certificates, (iii) the Class 2A-1A Certificates, (iv) the Class 2A-1B Certificates, (v) the Class 2A-1C Certificates, (vi) the Class B-1 Certificates, (vii) the Class B-2 Certificates, (viii) the Class B-3 Certificates, (ix) the Class B-4 Certificates, (x) the Class B-5 Certificates, (xi) the Class B-6 Certificates, (xii) the Class B-7 Certificates, (xiii) the Class C Certificates, (xiv) the Class P Certificates, (xvi) the Class ES Certificates and (xvi) the Class R Certificates. For federal income tax purposes will be treated as two separate real estate mortgage investment conduits purposes, the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the "Upper-Tier REMIC" and “Excluded Trust Property”)) comprises three REMICs in a tiered REMIC structure: the "“Lower-Tier REMIC," respectively” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC.” Each Certificate, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR R and Class PO ES Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "represent ownership of a regular interests" interest in the Upper-Tier REMIC, as described herein. The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iii) payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 5.01(h). The owners of the Class C Certificates beneficially own the Basis Risk Reserve Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account and the Yield Maintenance Account. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, R Certificate represents the "Components") shall also constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Uncertificated , as well as the sole residual interest in each of the Lower-Tier Interests REMIC and the Middle-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue three uncertificated interests, two of which shall constitute be the "regular interests" “Lower-Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Class 1Middle-ATier REMIC will hold as its assets all of the Lower-R Certificate Tier Regular Interests and shall issue 15 uncertificated interests, 14 of which shall be the "“Middle-Tier Regular Interests” and one residual interest" interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the LowerMiddle-Tier REMIC. The Certificates and the Uncertificated LowerUpper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests will represent and shall issue the entire beneficial ownership interest in the TrustCertificates. The "latest possible maturity date" for federal income tax For purposes of all the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics (or describes) the designation, interest rate, and initial principal balance of the Certificates each Lower-Tier Regular Interest and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable MT-R Interest: MT-Initial (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):1) $1,688,875,880.32 MT-Additional (1) $ 34,249,553.61 MT-R (1) (1)

PRELIMINARY STATEMENT. In exchange for the CertificatesPursuant to this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the Trust’s Mortgage Pass-Through Certificates, Series 2007-4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from the Seller pursuant to the Mortgage Loan Purchase Agreement (as defined below). On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust Estate to and receive in consideration therefor the Trustee to create Certificates evidencing the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will Depositor intends to sell and deliver to the Seller or its designee the Certificates, to be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectivelyissued hereunder in multiple classes, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for Certificates will consist of fourteen classes of certificates, designated as (i) the Class 1A-1 Certificates, (ii) the Class 1A-2 Certificates, (iii) the Class 2A-1 Certificates, (iv) the Class 2A-2 Certificates, (v) the Class 3A-1 Certificates, (vi) the Class 3A-2 Certificates, (vii) the Class A-R Certificate, (viii) the Class B-1 Certificates, (ix) the Class B-2 Certificates, (x) the Class B-3 Certificates, (xi) the Class B-4 Certificates, (xii) the Class B-5 Certificates, (xiii) the Class B-6 Certificates and (xiv) the Class ES Certificates. For federal income tax purposes purposes, the Trust Fund (exclusive of the Additional Collateral and the Class ES Distributable Amount, collectively the “Excluded Trust Assets”) is comprised of two REMICs in a tiered REMIC structure - the lower tier REMIC (the “Lower Tier REMIC”) and the upper tier REMIC (the “Upper Tier REMIC”). The Lower Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Assets) and will issue interests created hereby (the “Lower Tier Regular Interests”) (which will be uncertificated and will represent the REMIC Certificate Maturity Dateregular interests in the Lower Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower Tier REMIC. The following table sets forth characteristics Trustee will hold the Lower Tier Regular Interests as assets of the Certificates Upper Tier REMIC. The Certificates, other than the Class A-R Certificate, will represent “regular interests” in the Upper Tier REMIC, and the ComponentsClass A-R Certificate, together with will represent the minimum denominations and integral multiples sole class of “residual interest” in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess Upper Tier REMIC as well as ownership of the minimum denomination):Class LT-R Interest.

PRELIMINARY STATEMENT. In exchange The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates, the Depositor hereby conveys the . The Trust Estate Fund is being conveyed to the Trustee to create a trust for the Trustbenefit of the Certificateholders. The As provided herein, an election shall be made that the Trust Estate Fund (exclusive of (i) the right to receive and the obligation to pay Net Rate Carryover Amounts, (ii) the Group 1 and Group 2 Carryover Reserve Funds, (iii) the Group 1 Certificate Cap Contract, (iv) the Group 1 Certificate Cap Account, (v) the Group 1 Basis Risk Cap Contract, (vi) the Group 1 Basis Risk Cap Account, (vii) the Group 2 Certificate Cap Contract, (viii) the Group 2 Certificate Cap Account, (ix) the Group 2 Basis Risk Cap Contract, (x) the Group 2 Basis Risk Cap Account, (xi) the Class 2-2A3 Basis Risk Cap Contract, (xii) the Class 2-2A3 Basis Risk Cap Account and (xiii) the Supplemental Interest Trust (collectively, the “Excluded Trust Assets”)) be treated for federal income tax purposes will be treated as two separate comprising twelve real estate mortgage investment conduits under Section 860D of the Code (each a “REMIC” or, in the "Upperalternative the “Subsidiary REMIC 1,” “Middle REMIC 1,” “Master REMIC 1,” the “Class 1-Tier C REMIC" ,” the “Class 1-1P REMIC,” the “Class 1-2P REMIC,” “Subsidiary REMIC 2,” “Middle-REMIC 2,” “Master REMIC 2,” the “Class 2-C REMIC,” the “Class 2-1P REMIC,” and the "Lower“Class 2-Tier 2P REMIC," respectively, and each, a "REMIC".”). The Senior Certificates (Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. Each Certificate, other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-ARX, Class 2-LR R, Class 2-RX, Class 1-1P, Class 1-2P, Class 2-1P, Class 2-2P, Class 1-C and Class PO 2-C Certificates), represents ownership of a regular interest in Master REMIC 1 or Master REMIC 2 for purposes of the REMIC Provisions. In addition, each Certificate, other than the Class 301-B Certificates R, Class 1-RX, Class 2-R, Class 2-RX, Class 1-1P, Class 1-2P, Class 2-1P, Class 2-2P, Class 1-C and Class 2-C Certificates, represents the Class 4-B Certificates are referred right to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMICreceive certain payments with respect to Net Rate Carryover Amounts. The Class 1-PO ComponentR Certificate represents ownership of the sole Class of residual interest in each of Subsidiary REMIC 1, Class Middle REMIC 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, Master REMIC 1 for purposes of the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMICREMIC Provisions. The Class 1-ARX Certificate represents ownership of the sole Class of residual interest in each of the Class 1-R Certificate shall be C REMIC, the "residual interest" in the UpperClass 1-Tier REMIC 1P REMIC, and the Class 1-A-LR Certificate shall be 2P REMIC for purposes of the "residual interest" in the Lower-Tier REMICREMIC Provisions. The Certificates Class 2-R Certificate represents ownership of the sole Class of residual interest in each of Subsidiary REMIC 2, Middle REMIC 2, and Master REMIC 2 for purposes of the REMIC Provisions. The Class 2-RX Certificate represents ownership of the sole Class of residual interest in each of the Class 2-C REMIC, the Class 2-1P REMIC, and the Uncertificated LowerClass 2-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" 2P REMIC for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):Provisions.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the DSLA Mortgage Loan Trust 2004-AR3, DSLA Mortgage Pass-Through Certificates, Series 2004-AR3 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of fifteen classes of certificates, designated as (i) the Class 1-A1A Certificates, (ii) the Class 1-A1B Certificates, (iii) the Class 2-A1 Certificates, (iv) the Class 2-A2A Certificates, (v) the Class 2-A2B Certificates, (vi) the Class X Certificates, (vii) the Class A-R Certificates, (viii) the Class B-1 Certificates, (ix) the Class B-2 Certificates, (x) the Class B-3 Certificates, (xi) the Class B-4 Certificates, (xii) the Class B-5 Certificates, (xiii) the Class B-6 Certificates, (xiv) the Class Y Certificates and (xv) the Class C Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, and the Yield Maintenance Agreement) be treated for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “REMIC” or, in the "Upper-Tier REMIC" and alternative, the "“Lower-Tier REMIC," respectively, ” and each, a "the “Upper-Tier REMIC"”). The Senior Certificates (Each Certificate, other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR Y, and Class PO Certificates)C Certificates shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class 302-B A2A, Class 2-A2B, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, and Class B-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls. The Class X Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class 4A-B Certificates are referred to collectively as R Certificate represents the "Regular Certificates" ownership of the sole residual interest in each of the Lower-Tier REMIC and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO ComponentY Certificates, which will not have a Class 1-IO ComponentPrincipal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the excess, if any, of amounts paid with respect to the Yield Maintenance Agreement in excess of the Yield Maintenance Distributable Amount for such Yield Maintenance Agreement. The Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" Y Certificates will not represent an interest in the Upper-Tier any REMIC. The Uncertificated Class C Certificate shall represent a right to direct the termination of the Trust but shall not represent an interest in any REMIC. The Lower-Tier Interests REMIC shall constitute hold as assets all property of the "regular interests" Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreement, and the interests in the Lower-Tier REMICREMIC formed hereby. The Class 1-A-R Certificate Upper Tier REMIC shall be hold as assets the "residual interest" in the Upperuncertificated Lower-Tier REMIC and Interests, other than the Class 1LT-A-LR Certificate shall be the "residual interest" in the R Interest. Each such Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created Interest is hereby will be the designated as a REMIC Certificate Maturity Dateregular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: LT1-A1A (1) $ 50,000,000.00 Class 1-A1A LT1-A1B (1) $ 5,555,500.00 Class 1-A1B LT2-A1 (1) $ 62,500,000.00 Class 2-A1 LT2-A2A (1) $ 84,823,000.00 Class 2-A2A LT2-A2B (1) $ 21,205,750.00 Class 2-A2B LTA-R (1) $ 25.00 Class A-R LTB-6 (1) $ 728,066.43 Class B-6 LT-Group 1 (2) $ 59,879,892.62 N/A LT-SC-1 (2) $ 180,181.98 N/A LT-Group 2 (3) $ 181,646,686.15 N/A LT-SC-2 (3) $ 546,580.67 N/A LTQ (1) $ 484,506,682.86 N/A LT-R (4) (4) Class A-R __________________________

PRELIMINARY STATEMENT. In exchange The Depositor is the owner of the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate Fund for federal income tax purposes will be treated consist of three separate REMICs, each having assets as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMICprovided herein. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the TrustTrust Fund. The "Regular Certificates will represent “regular interests” in the Upper REMIC. The Class II-A-R Certificates will represent the residual interests in the Lower REMIC, Middle REMIC and Upper REMIC, as described in Section 2.7. The “latest possible maturity date" ” for federal income tax purposes of all REMIC regular interests created hereby will be the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics of the Certificates and the ComponentsCertificates, together with the minimum denominations and integral multiples in excess thereof in which the such Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount): Class Designation Initial Class Certificate Balance Initial Pass Through Rate Minimum Denomination Integral Multiples in Excess Minimum Class I-A-1 $ 25,000 $ 1,000 Class I-A-2 $ 25,000 $ 1,000 Class II-A-1 $ 25,000 $ 1,000 Class II-A-R $ 100 $ N/A Class III-A-1 $ 25,000 $ 1,000 Class IV-A-1 $ 25,000 $ 1,000 Class IV-A-2 $ 25,000 $ 1,000 Class B-1 $ 100,000 $ 1,000 Class B-2 $ 100,000 $ 1,000 Class B-3 $ 100,000 $ 1,000 Class B-4 $ 100,000 $ 1,000 Class B-5 $ 100,000 $ 1,000 Class B-6 $ 100,000 $ 1,000 Accretion Directed Certificates None. Accrual Certificates None. Accrual Components None. Book-Entry Certificates All Classes of Certificates other than the Physical Certificates. Certificate Group With respect to Pool I, the Group I Senior Certificates; with respect to Pool II, the Group II Senior Certificates; with respect to Pool III, the Group III Senior Certificates; and with respect to Pool IV, the Group IV Senior Certificates. COFI Certificates None. Component Certificates None. Components None. Delay Certificates All interest-bearing Classes of Certificates other than the Non-Delay Certificates, if any. ERISA-Restricted Certificates The Residual Certificates, Private Certificates and Certificates of any amount in excess Class that no longer satisfy the applicable rating requirement of the minimum denomination):Underwriters’ Exemption. Floating Rate Certificates None. Group I Senior Certificates The Class I-A-1 and Class I-A-2 Certificates. Group II Senior Certificates The Class II-A-1 and Class II-A-R Certificates. Group III Senior Certificates The Class III-A-1 Certificates. Group IV Senior Certificates The Class IV-A-1 and Class IV-A-2 Certificates. Insured Retail Certificates None. Inverse Floating Rate Certificates None. LIBOR Certificates None. Non-Delay Certificates None. Notional Amount Components None. Notional Amount Certificates None. Offered Certificates All Classes of the Certificates other than the Private Certificates. Physical Certificates The Residual Certificates and the Private Certificates. Planned Principal Classes None. Principal Only Certificates None. Private Certificates The Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies Fitch and ▇▇▇▇▇’▇; except that, for the purposes of the Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, Fitch shall be the sole Rating Agency. The Class B-6 Certificates will not be rated. Regular Certificates All Classes of Certificates, other than the Residual Certificates. Residual Certificates The Class II-A-R Certificates. Scheduled Principal Classes None. Senior Certificates The Group I Senior Certificates, the Group II Senior Certificates, the Group III Senior Certificates and the Group IV Senior Certificates, collectively. Senior Mezzanine Certificates The Class IV-A-2 Certificates. Subordinated Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. Super Senior Certificates The Class IV-A-1 Certificates. Support Classes None. Targeted Principal Classes None. Underwriters ______________ With respect to any of the foregoing designations as to which the corresponding reference is “None,” all defined terms and provisions herein relating solely to such designations shall be of no force or effect, and any calculations herein incorporating references to such designations shall be interpreted without reference to such designations and amounts. Defined terms and provisions herein relating to statistical rating agencies not designated above as Rating Agencies shall be of no force or effect.

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2004-10 Mortgage Loan Pass-Through Certificates, Series 2004-10 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1 Certificates, (ii) the Class 1-A-2A Certificates, (iii) the Class 1-A-2B Certificates, (iv) the Class 2-A Certificates, (v) the Class 3-A-1A Certificates, (vi) the Class 3-A-1B Certificates, (vii) the Class 4-A Certificates, (viii) the Class X-1 Certificates, (ix) the Class X-2 Certificates, (x) the Class X-3 Certificates, (xi) the Class A-R Certificates, (xii) the Class B-1 Certificates, (xiii) the Class B-2 Certificates, (xiv) the Class B-3 Certificates, (xv) the Class B-4 Certificates, (xvi) the Class B-5 Certificates, (xvii) the Class B-6 Certificates, (xviii) the Class P Certificate and (xix) the Class Y Certificate. As provided herein, the Trustee shall elect that the Trust Fund be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class P, Class Y and Class A-R Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. Each of the Class P and Class Y Certificates represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the excess, if any, of amounts paid with respect to the Yield Maintenance Agreement in excess of the Yield Maintenance Distributable Amount for the Yield Maintenance Agreement. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund and the interests created in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Certificate Maturity DateInterests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: Class LT-Group 1 (1) $ 158,612,755.32 Group1 Class LT-SC1 (1) $ 123,815.71 Group 1 Class LT-Group 2 (2) $ 115,245,188.61 Group 2 Class LT-SC2 (2) $ 89,961.50 Group 2 Class LT-Group 3 (3) $ 279,719,560.29 Group 3 Class LT-SC3 (3) $ 218,359.19 Group 3 Class LT-Group 4 (4) $ 174,016,743.64 Group 4 Class LT-SC4 (4) $ 135,844.89 Group 4 Class LT-R (5) (5) N/A __________________

PRELIMINARY STATEMENT. In exchange for The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of twenty Classes of Certificates, designated as (i) the Class AV, Class AF-1, Class AF-2, Class AF-3 and Class AF-4 Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, (iii) the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class P Certificates, (v) the Class CE Certificates, (vi) the Class R Certificates and (vii) the Class R-X Certificates. The Depositor hereby conveys the Trust Estate assigns to the Trustee to create Trustee, acting on behalf of the TrustCertificateholders its interests and rights in the Mortgage Loans. The Trust Estate As provided herein, for federal income tax purposes purposes, the Trustee will be treated elect to treat the segregated pools of assets subject to this Agreement (exclusive of the Senior Cap Account, the Mezzanine Cap Account, the Basis Risk Reserve Fund and the Final Maturity Reserve Fund) as two separate nine real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than ): the Class CB-IOSubsidiary REMIC, Class SESthe Intermediate REMIC, Class 1-A-R, Class 1-A-LR and Class PO Certificates)the Master REMIC, the Class 30-B Certificates CE REMIC, the Class P REMIC and the four Class 4-B Certificates are referred to collectively as REMICs. The Subsid▇▇▇▇ ▇▇▇IC will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans. The Subsidiary REMIC will issue (1) the REMIC regular interests (the "Subsidiary REMIC Regular Certificates" Interests") and shall constitute "regular interests" in (2) the Upper-Tier REMICSR Interest. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, Subsidiary REMIC Regular Interests will be uncertificated and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute will represent the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be Subsidiary REMIC and the SR Interest will represent the single class of "residual interest" in the Upper-Tier Subsidiary REMIC. The Trustee will hold the Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the "regular interests" in the Intermediate REMIC and (ii) the Class 1-A-LR Certificate shall be IR Interest, which will represent the single class of "residual interest" in the Lower-Tier Intermediate REMIC. The Certificates Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the Uncertificated Lower-Tier Interests interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class CE, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class BM Interests, which will represent the entire beneficial ownership "regular interests" in the Master REMIC and (ii) the Class MR Interest, which will represent the single class of "residual interest" in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class CE REMIC. The assets of the Class CE REMIC will consist of the Clas▇ ▇▇▇ ▇▇terest in the Master REMIC ▇▇▇ ▇▇▇erests in the Class CE REMIC will be evidenced by (i) the Class CE Certificate, which w▇▇▇ ▇▇▇▇esent the "regular interests" in the Class CE REMIC and (ii) the Class CER-X Interest, which will represent th▇ ▇▇▇▇▇▇ class of "residual interest" in the Class CE REMIC. The Trustee will hold the Class PM Interest in ▇▇▇ ▇▇▇ter REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the "regular interests" in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of "residual interest" in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the "regular interest" in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of "residual interest" in that Class B REMIC. The Class R Certificates will represent the Class SR, Class IR and Class MR Interests, and the Class R-X Certificates will represent the residual interest in each of the TrustClass CE REMIC, Class P REMIC and four Class B REMICs. The "latest possible maturity possib▇▇ ▇▇▇▇▇ity date" for federal income tax purposes of all REMICs, and regular and residual interests created hereby hereunder will be the REMIC Certificate Latest Possible Maturity Date. The following table sets forth characteristics Subsidiary REMIC -------------------- The Subsidiary REMIC Interests, each of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each for the Class of Certificates may be issued SR Interests) is hereby designated a REMIC regular interest for federal income tax purposes, will have the principal balances, pass-through rates and Corresponding Loan Groups as set forth in any amount in excess of the minimum denomination):following table:

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the HarborView Mortgage Loan Trust Estate to 2004-1 Mortgage Loan Pass-Through Certificates, Series 2004-1 (the Trustee to create “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust. The Trust Estate for federal income tax purposes will be treated , the primary assets of which are the Mortgage Loans (as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"defined below). The Senior Depositor intends to sell the Certificates (other than the Class CB-IOto be issued hereunder in multiple classes, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" which in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "latest possible maturity date" Certificates will consist of thirteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A Certificates, (iii) the Class 3-A Certificates, (iv) the Class 4-A Certificates, (v) the Class X Certificates, (vi) the Class A-R Certificates, (vii) the Class B-1 Certificate, (viii) the Class B-2 Certificates, (ix) the Class B-3 Certificates, (x) the Class B-4 Certificates, (xi) the Class B-5 Certificates, (xii) the Class B-6 Certificates and (xiii) the Class P Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund) be treated for federal income tax purposes as comprising three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC”, the “Middle-Tier REMIC”, and the “Upper-Tier REMIC”). Each Certificate, other than the Class P Certificate and the Class A-R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, the Class 1-A Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07. The owners of the Class X Certificates beneficially own the Basis Risk Reserve Fund. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, and the interests created in any REMIC formed hereby. The Middle-Tier REMIC shall hold as assets the several classes of uncertificated interests of the Lower-Tier REMIC, other than the Class LT-R Interest. Each such Lower-Tier Interest is hereby will be designated as a REMIC regular interest. The Upper Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Certificate Maturity DateInterests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table sets forth characteristics of specifies the Certificates Class designation, interest rate, and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of initial Class Principal Amount for each Class of Certificates may be issued in any amount in excess of the minimum denomination):Lower-Tier REMIC Interest: Class LT-Group 1 (1) $ 209,397,681.47 Group 1 Class LT-SC1 (1) $ 107,895.77 Group 1 Class LT-Group 2 (2) $ 166,706,331.39 Group 2 Class LT-SC2 (2) $ 85,902.34 Group 2 Class LT-Group 3 (3) $ 123,125,654.66 Group 3 Class LT-SC3 (3) $ 63,451.06 Group 3 Class LT-Group 4 (4) $ 102,725,423.35 Group 4 Class LT-SC4 (4) $ 52,933.57 Group 4 Class LT-R (5) (5) N/A __________________

PRELIMINARY STATEMENT. In exchange for the CertificatesThrough this Agreement, the Depositor hereby conveys intends to cause the issuance and sale of the RBSGC Mortgage Loan Trust 2005-A Mortgage Loan Pass-Through Certificates, Series 2005-A (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Estate to Fund created hereunder. The Certificates will consist of eighteen classes of certificates, designated as (i) the Class 1-A Certificates, (ii) the Class 2-A-1 Certificates, (iii) the Class 2-A-2 Certificates, (iv) the Class 2-A-3 Certificates, (v) the Class 3-A Certificates, (vi) the Class 4-A Certificates, (vii) the Class 5-A Certificates, (viii) the Class X Certificates, (ix) the Class PO Certificates, (x) the Class A-R Certificates, (xi) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class A-R-II Certificates and (xviii) the Class P Certificates. As provided herein, the Trustee to create shall elect that the Trust. The Trust Estate Fund (other than the Class P Distributable Amount) be treated for federal income tax purposes will be treated as comprising two separate real estate mortgage investment conduits (each, a “REMIC” or, in the "alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC" ”). Each Certificate, other than the Class P, Class A-R, and Class A-R-II Certificates, shall represent ownership of a regular interest in the "Upper-Tier REMIC, as described herein. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4A-B R Certificates are referred to collectively as represent ownership of the "Regular Certificates" and shall constitute "regular interests" sole class of residual interest in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests REMIC shall constitute hold as assets all property of the "regular interests" Trust Fund, other than the Excluded Trust Property and the interests in the Lower-Tier REMICREMIC formed hereby. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and shall hold as assets the Class 1-A-LR Certificate shall be the "residual interest" in the uncertificated Lower-Tier REMICInterests, other than the Class LT-R Interest. The Certificates and the Uncertificated Each such Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created Interest is hereby will be the designated as a REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):regular interest.

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of nineteen classes of certificates, designated as (i) the Class I-A-1 Certificates, (ii) the Class II-A-1 Certificates, (iii) the Class II-A-2 Certificates, (iv) Class II-A-3 Certificates, (v) the Class II-A-4 Certificates, (vi) the Class M-1 Certificates (vii) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9 Certificates, (xv) the Class M-10 Certificates, (xvi) the Class C Certificates, (xvii) the Class P Certificates, (xviii) the Class R Certificates and (xix) the Class R-X Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, the Swap Account, any Servicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust, the Cap Trust, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, the Interest Rate Swap Agreement and the Basis Risk Cap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. I Variable(2) $ 43,038,994.50 July 25, 2037 I-1-A Variable(2) $ 6,129,095.00 July 25, 2037 I-1-B Variable(2) $ 6,129,095.00 July 25, 2037 I-2-B Variable(2) $ 6,812,836.25 July 25, 2037 I-3-A Variable(2) $ 7,466,911.25 July 25, 2037 I-3-B Variable(2) $ 7,466,911.25 July 25, 2037 I-4-A Variable(2) $ 8,081,538.75 July 25, 2037 I-4-B Variable(2) $ 8,081,538.75 July 25, 2037 I-5-B Variable(2) $ 8,481,060.00 July 25, 2037 I-6-B Variable(2) $ 8,170,468.75 July 25, 2037 I-7-A Variable(2) $ 7,869,093.75 July 25, 2037 I-7-B Variable(2) $ 7,869,093.75 July 25, 2037 I-8-B Variable(2) $ 7,578,945.00 July 25, 2037 I-9-B Variable(2) $ 7,299,601.25 July 25, 2037 I-10-A Variable(2) $ 7,030,656.25 July 25, 2037 I-10-B Variable(2) $ 7,030,656.25 July 25, 2037 I-11-A Variable(2) $ 6,771,720.00 July 25, 2037 I-11-B Variable(2) $ 6,771,720.00 July 25, 2037 I-12-B Variable(2) $ 6,522,417.50 July 25, 2037 I-13-A Variable(2) $ 6,282,387.50 July 25, 2037 I-13-B Variable(2) $ 6,282,387.50 July 25, 2037 I-14-B Variable(2) $ 6,051,280.00 July 25, 2037 I-15-B Variable(2) $ 6,072,953.75 July 25, 2037 I-16-B Variable(2) $ 27,762,252.50 July 25, 2037 I-17-B Variable(2) $ 77,904,133.75 July 25, 2037 I-18-A Variable(2) $ 2,824,771.25 July 25, 2037 I-18-B Variable(2) $ 2,824,771.25 July 25, 2037 I-19-A Variable(2) $ 2,266,532.50 July 25, 2037 I-19-B Variable(2) $ 2,266,532.50 July 25, 2037 I-20-B Variable(2) $ 1,969,250.00 July 25, 2037 I-21-B Variable(2) $ 1,368,276.25 July 25, 2037 I-24-B Variable(2) $ 1,231,562.50 July 25, 2037 I-25-B Variable(2) $ 1,189,288.75 July 25, 2037 I-26-B Variable(2) $ 1,148,558.75 July 25, 2037 I-27-A Variable(2) $ 1,109,312.50 July 25, 2037 I-27-B Variable(2) $ 1,109,312.50 July 25, 2037 I-28-A Variable(2) $ 1,401,328.75 July 25, 2037 I-28-B Variable(2) $ 1,401,328.75 July 25, 2037 I-29-A Variable(2) $ 2,757,042.50 July 25, 2037 I-29-B Variable(2) $ 2,757,042.50 July 25, 2037 I-30-A Variable(2) $ 903,043.75 July 25, 2037 I-30-B Variable(2) $ 903,043.75 July 25, 2037 I-32-B Variable(2) $ 845,446.25 July 25, 2037 I-33-A Variable(2) $ 818,115.00 July 25, 2037 I-33-B Variable(2) $ 818,115.00 July 25, 2037 I-34-B Variable(2) $ 791,716.25 July 25, 2037 I-35-A Variable(2) $ 766,212.50 July 25, 2037 I-35-B Variable(2) $ 766,212.50 July 25, 2037 I-36-B Variable(2) $ 741,576.25 July 25, 2037 I-37-B Variable(2) $ 717,772.50 July 25, 2037 I-38-A Variable(2) $ 694,773.75 July 25, 2037 I-38-B Variable(2) $ 694,773.75 July 25, 2037 I-39-A Variable(2) $ 672,548.75 July 25, 2037 I-39-B Variable(2) $ 672,548.75 July 25, 2037 I-40-A Variable(2) $ 651,071.25 July 25, 2037 I-40-B Variable(2) $ 651,071.25 July 25, 2037 I-41-A Variable(2) $ 630,315.00 July 25, 2037 I-41-B Variable(2) $ 630,315.00 July 25, 2037 I-42-A Variable(2) $ 610,253.75 July 25, 2037 I-42-B Variable(2) $ 610,253.75 July 25, 2037 I-43-A Variable(2) $ 590,862.50 July 25, 2037 I-43-B Variable(2) $ 590,862.50 July 25, 2037 I-44-A Variable(2) $ 572,116.25 July 25, 2037 I-44-B Variable(2) $ 572,116.25 July 25, 2037 I-45-A Variable(2) $ 553,995.00 July 25, 2037 I-45-B Variable(2) $ 553,995.00 July 25, 2037 I-47-A Variable(2) $ 519,536.25 July 25, 2037 I-47-B Variable(2) $ 519,536.25 July 25, 2037 I-48-A Variable(2) $ 503,155.00 July 25, 2037 I-48-B Variable(2) $ 503,155.00 July 25, 2037 I-49-A Variable(2) $ 487,316.25 July 25, 2037 I-49-B Variable(2) $ 487,316.25 July 25, 2037 I-50-A Variable(2) $ 471,998.75 July 25, 2037 I-50-B Variable(2) $ 471,998.75 July 25, 2037 I-51-B Variable(2) $ 500,378.75 July 25, 2037 I-52-A Variable(2) $ 755,640.00 July 25, 2037 I-52-B Variable(2) $ 755,640.00 July 25, 2037 I-53-B Variable(2) $ 1,392,298.75 July 25, 2037 I-54-B Variable(2) $ 353,277.50 July 25, 2037 I-55-A Variable(2) $ 343,247.50 July 25, 2037 I-55-B Variable(2) $ 343,247.50 July 25, 2037 I-56-A Variable(2) $ 333,502.50 July 25, 2037 I-56-B Variable(2) $ 333,502.50 July 25, 2037 I-57-A Variable(2) $ 324,031.25 July 25, 2037 I-57-B Variable(2) $ 324,031.25 July 25, 2037 I-58-A Variable(2) $ 314,827.50 July 25, 2037 I-58-B Variable(2) $ 314,827.50 July 25, 2037 I-60-B Variable(2) $ 297,195.00 July 25, 2037 I-61-A Variable(2) $ 288,750.00 July 25, 2037 I-61-B Variable(2) $ 288,750.00 July 25, 2037 I-62-B Variable(2) $ 280,543.75 July 25, 2037 I-63-A Variable(2) $ 272,570.00 July 25, 2037 I-63-B Variable(2) $ 272,570.00 July 25, 2037 I-64-B Variable(2) $ 264,821.25 July 25, 2037 I-65-A Variable(2) $ 257,291.25 July 25, 2037 I-65-B Variable(2) $ 257,291.25 July 25, 2037 I-66-A Variable(2) $ 8,724,053.75 July 25, 2037 I-66-B Variable(2) $ 8,724,053.75 July 25, 2037 P Variable(2) $ 100.00 July 25, 2037 ________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "Components") shall also constitute "regular interests" “Certificates”), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The "Certificates will consist of twenty-two classes of certificates, designated as (i) the Class A Certificates, (ii) the Class M-1 Certificates, (iii) the Class M-2 Certificates, (iv) the Class M-3 Certificates, (v) the Class M-4 Certificates, (vi) the Class M-5 Certificates, (vii) the Class M-6 Certificates, (viii) the Class M-7 Certificates, (ix) the Class M-8 Certificates, (x) the Class M-9 Certificates, (xi) the Class M-10 Certificates, (xii) the Class M-11 Certificates, (xiii) the Class M-12 Certificates, (xiv) the Class M-13 Certificates, (xv) the Class M-14 Certificates, (xvi) the Class M-15 Certificates, (xvii) the Class C Certificates, (xviii) the Class P Certificates, (xix) the Class R Certificates, (xx) the Class R-X Certificates, (xxi) the Class X-1 Certificates and (xxii) the Class X-2 Certificates. As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Interest Rate Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC 1.” The Class R-1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date" ” for federal income tax purposes each of all interests created hereby will be the REMIC Certificate Maturity Date1 Regular Interests (as defined herein). The following table sets forth characteristics None of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates REMIC 1 Regular Interests shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 126,499,957.41 November 25, 2035 I-1-B Variable(2) $ 10,852,756.25 November 25, 2035 I-3-B Variable(2) $ 9,815,077.50 November 25, 2035 I-4-B Variable(2) $ 9,334,003.75 November 25, 2035 I-6-B Variable(2) $ 8,441,337.50 November 25, 2035 I-7-B Variable(2) $ 8,027,500.00 November 25, 2035 I-8-B Variable(2) $ 7,633,918.75 November 25, 2035 I-9-B Variable(2) $ 7,259,603.75 November 25, 2035 I-10-B Variable(2) $ 7,359,948.75 November 25, 2035 I-11-B Variable(2) $ 8,547,723.75 November 25, 2035 I-13-B Variable(2) $ 5,818,463.75 November 25, 2035 I-14-B Variable(2) $ 5,533,060.00 November 25, 2035 I-15-B Variable(2) $ 5,261,633.75 November 25, 2035 I-16-B Variable(2) $ 5,003,500.00 November 25, 2035 I-18-B Variable(2) $ 4,524,542.50 November 25, 2035 I-19-A Variable(2) $ 4,302,511.25 November 25, 2035 I-19-B Variable(2) $ 4,302,511.25 November 25, 2035 I-20-A Variable(2) $ 4,091,358.75 November 25, 2035 I-20-B Variable(2) $ 4,091,358.75 November 25, 2035 I-21-B Variable(2) $ 3,890,550.00 November 25, 2035 I-23-B Variable(2) $ 3,517,966.25 November 25, 2035 I-24-A Variable(2) $ 3,345,252.50 November 25, 2035 I-24-B Variable(2) $ 3,345,252.50 November 25, 2035 I-25-B Variable(2) $ 3,181,002.50 November 25, 2035 I-26-A Variable(2) $ 3,024,802.50 November 25, 2035 I-26-B Variable(2) $ 3,024,802.50 November 25, 2035 I-27-A Variable(2) $ 2,876,258.75 November 25, 2035 I-27-B Variable(2) $ 2,876,258.75 November 25, 2035 I-28-A Variable(2) $ 2,734,996.25 November 25, 2035 I-28-B Variable(2) $ 2,734,996.25 November 25, 2035 I-29-A Variable(2) $ 2,600,658.75 November 25, 2035 I-29-B Variable(2) $ 2,600,658.75 November 25, 2035 I-30-B Variable(2) $ 2,472,906.25 November 25, 2035 I-32-B Variable(2) $ 2,235,886.25 November 25, 2035 I-33-A Variable(2) $ 2,126,020.00 November 25, 2035 I-33-B Variable(2) $ 2,126,020.00 November 25, 2035 I-34-B Variable(2) $ 2,021,541.25 November 25, 2035 I-35-A Variable(2) $ 1,922,186.25 November 25, 2035 I-35-B Variable(2) $ 1,922,186.25 November 25, 2035 I-36-B Variable(2) $ 1,827,706.25 November 25, 2035 I-38-B Variable(2) $ 1,652,421.25 November 25, 2035 I-39-A Variable(2) $ 1,571,173.75 November 25, 2035 I-39-B Variable(2) $ 1,571,173.75 November 25, 2035 I-40-B Variable(2) $ 1,493,912.50 November 25, 2035 I-41-A Variable(2) $ 28,802,973.75 November 25, 2035 I-41-B Variable(2) $ 28,802,973.75 November 25, 2035 P Variable(2) $ 100.00 November 25, 2035 ________________

PRELIMINARY STATEMENT. In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Class A Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class A-PO Certificates), the Class 30-B Certificates ) and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2A-PO Component, Class 2-IO Component, Class 2A-SES Component, PO Component and Class 3-PO Component, Class 3-SES Component, Class 4A-PO Component, and Class 4-SES Component (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the minimum denomination):): Initial Class Integral Certificate Balance Pass- Multiples or Notional Through Minimum in Excess Classes Amount Rate Denomination of Minimum ------------ ------------------- ------- ------------ ---------- Class 1-A-1 $15,483,666.00 (1) $1,000 $1 Class 1-A-2 $3,653,000.00 6.500% $1,000 $1 Class 1-A-3 $3,103,000.00 6.500% $1,000 $1 Class 1-A-4 $3,210,000.00 6.500% $1,000 $1 Class 1-A-5 $2,868,000.00 6.500% $1,000 $1 Class 1-A-6 $123,869,334.00 6.250% $1,000 $1 Class 1-A-7 $15,483,666.00 (2) $1,000 $1 Class 1-A-8 $50,000,000.00 6.500% $1,000 $1 Class 1-A-9 $13,260,000.00 6.500% $1,000 $1 Class 1-A-10 $24,800,000.00 6.500% $1,000 $1 Class 1-A-11 $155,000.00 6.500% $1,000 $1 Class 1-A-R $50.00 6.500% $50 N/A Class 1-A-LR $50.00 6.500% $50 N/A Class 2-A-1 $147,189,000.00 6.500% $1,000 $1 Class 3-A-1 $108,627,000.00 6.000% $1,000 $1 Class 1-B-1 $3,103,000.00 6.500% $25,000 $1 Class 1-B-2 $1,490,000.00 6.500% $25,000 $1 Class 1-B-3 $869,000.00 6.500% $25,000 $1 Class 1-B-4 $496,000.00 6.500% $25,000 $1 Class 1-B-5 $373,000.00 6.500% $25,000 $1 Class 1-B-6 $496,675.00 6.500% $25,000 $1 Class 2-B-1 $1,443,000.00 6.500% $25,000 $1 Class 2-B-2 $1,214,000.00 6.500% $25,000 $1 Class 2-B-3 $684,000.00 6.500% $25,000 $1 Class 2-B-4 $303,000.00 6.500% $25,000 $1 Class 2-B-5 $228,000.00 6.500% $25,000 $1 Class 2-B-6 $304,441.00 6.500% $25,000 $1 Class 3-B-1 $771,000.00 6.000% $25,000 $1 Class 3-B-2 $275,000.00 6.000% $25,000 $1 Class 3-B-3 $166,000.00 6.000% $25,000 $1 Class 3-B-4 $110,000.00 6.000% $25,000 $1 Class 3-B-5 $110,000.00 6.000% $25,000 $1 Class 3-B-6 $110,613.00 6.000% $25,000 $1 Class A-PO (3) (3) $25,000 $1 Integral Pass- Multiples Initial Component Through Minimum In Excess Components Balance Rate Denomination Of Minimum ------------ ------------------- ------- ------------ ---------- Class 1-A-PO $1,043,938.935 (4) N/A N/A Class 2-A-PO $486,873.25 (4) N/A N/A Class 3-A-PO $14,838.54 (4) N/A N/A

PRELIMINARY STATEMENT. In exchange for the Certificates, the The Depositor hereby conveys the Trust Estate intends to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (the "Uppersell pass-Tier REMIC" and the "Lower-Tier REMIC," respectively, and each, a "REMIC"). The Senior Certificates (other than the Class CB-IO, Class SES, Class 1-A-R, Class 1-A-LR and Class PO Certificates), the Class 30-B Certificates and the Class 4-B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-PO Component, Class 1-IO Component, Class 1-SES Component, Class 2-PO Component, Class 2-IO Component, Class 2-SES Component, Class 3-PO Component, Class 3-SES Component, Class 4-PO Component, and Class 4-SES Component through certificates (collectively, the "ComponentsCertificates") shall also constitute "regular interests" ), to be issued hereunder in multiple classes, which in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests aggregate will represent evidence the entire beneficial ownership interest in the TrustTrust Fund created hereunder. The Certificates will consist of twenty-three classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2A Certificates, (iii) the Class A-2B Certificates, (iv) the Class A-3 Certificates, (v) the Class A-4 Certificates, (vi) the Class M-1 Certificates, (vii) the Class M-2 Certificates, (viii) the Class M-3 Certificates, (ix) the Class M-4 Certificates, (x) the Class M-5 Certificates, (xi) the Class M-6 Certificates, (xii) the Class M-7 Certificates, (xiii) the Class M-8 Certificates, (xiv) the Class M-9A Certificates, (xv) the Class M-9F Certificates, (xvi) the Class B-1 Certificates, (xvii) the Class B-2 Certificates, (xviii) the Class P Certificates, (xix) the Class X-1 Certificates, (xx) the Class X-2 Certificates, (xxi) the Class X-S Certificates, (xxii) the Class A-R Certificates and (xxiii) the Class A-RL Certificates. REMIC 1 ------- As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the Pre-Funding Account, the Capitalized Interest Account and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a "latest possible maturity date" REMIC") for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 1." The Class A-RL Certificates will represent the sole class of "residual interests" in REMIC 1 for purposes of all interests created hereby will be the REMIC Certificate Maturity DateProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth characteristics the designation, the Uncertificated REMIC 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the Certificates and "regular interests" in REMIC 1 (the Components, together with "REMIC 1 Regular Interests"). None of the minimum denominations and integral multiples in excess thereof in which the Classes REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of Certificates shall be issuable (except that one Certificate satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each Class of Certificates may be issued in any amount in excess of the minimum denomination):REMIC 1 Regular Interests will be the Latest Possible Maturity Date as defined herein. Uncertificated REMIC 1 Initial Uncertificated Designation Pass-Through Rate Principal Balance ----------- ----------------- ----------------- LTI-1 Variable(1) $ 619,379,380.54 LTI-PF Variable(1) $ 29,400,300.00 LTI-S1 Variable(1) (2) LTI-S2 Variable(1) (2) LTI-P Variable(1) $ 100.00 LTI-R Variable(1) $ 100.00 ------------------- (1) Calculated as provided in the definition of Uncertificated REMIC 1 Pass-Through Rate.