REMIC 2. On each Distribution Date, the timing and amounts of principal distributions and allocations of Realized Losses on each Class of REMIC 2 Regular Interests shall be identical to the timing, amounts and allocations in respect of the corresponding Classes of REMIC 1 Regular Interests pursuant to Section 4.10(d). For these purposes, the Class T2-1 and Class T2-11 Interests correspond to the Class T1-1 Interest, the Class T2-2 and Class T2-12 Interests correspond to the Class T1-2 Interest, the Class T2-3 and Class T2-13 Interests correspond to the Class T1-3 Interest, and the Class T2-4, Class T2-5 and Class T2-6 Interests correspond to the Class T1-4, Class T1-5 and Class T1-6 Interests, respectively. Interest will accrue on each of the Class T2-1, Class T2-2 and Class T2-3 Interests at the REMIC 2 Pass-Through Rate. Interest will accrue on each of the Class T2-11, Class T2-12 and Class T2-13 Interests at the excess, if any, of the Weighted Average Net Mortgage Rate over the REMIC 2 Pass-Through Rate. Interest will accrue on the Class T2-4, Class T2-5 and Class T2-6 Interests at the Weighted Average Net Mortgage Rate. Any shortfalls of interest will be allocated, first, to the Class T2-4, Class T2-5 and Class T2-6 Interests to the extent that interest shortfalls are allocated to the Class T1-4, Class T1-5 and Class T1-6 Interests; second, pro rata, to the Class T2-11, Class T2-12 and Class T2-13 Interests; and third, pro rata, to the Class T2-1, Class T2-2 and Class T2-3 Interests. Amounts in the Distribution Account deemed distributed in respect of the REMIC 2 Regular Interests shall be treated as held by REMIC 3 for distribution in accordance with Section 4.10(b). Any portion of Available Funds remaining in REMIC 2 on a Distribution Date shall be distributed to the Class R Certificates in respect of the Class R-2
REMIC 2. On each Distribution Date, REMIC 2 shall be deemed to have received the amounts deemed distributed in respect of the REMIC 1 Regular Interests. Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among the REMIC 2 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Net WAC Carryover Amounts, which shall be deemed paid in respect of the REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxxvi) or (xxxvii)) are paid or allocated in respect of the related Certificates (the REMIC 2 AV-1 Interest being related to the Class AV-1 Certificates, the REMIC 2 AV-2 Interest being related to the Class AV-2 Certificates, the REMIC 2 AV-3 Interest being related to the Class AV-3 Certificates, the REMIC 2 M-1 Interest being related to the Class M-1 Certificates, the REMIC 2 M-2 Interest being related to the Class M-2 Certificates, the REMIC 2 M-3 Interest being related to the Class M-3 Certificates, the REMIC 2 M-4 Interest being related to the Class M-4 Certificates, the REMIC 2 B-1 Interest being related to the Class B-1 Certificates, the REMIC 2 B-2 Interest being related to the Class B-2 Certificates, the REMIC 2 B-3 Interest being related to the Class B-3 Certificates, the REMIC 2 B-4 Interest being related to the Class B-4 Certificates, the REMIC 2 B-5 Interest being related to the Class B-5 Certificates and the REMIC 2 B-6 Interest being related to the Class B-6 Certificates). On each Distribution Date, principal shall be paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the principal amount of the REMIC 2 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and Realized Losses have been allocated to such Certificates (other than the Class X or Class N Certificates). The portion of Available Funds remaining in REMIC 2 on a Distribution Date after all distributions have been made to the REMIC 2 Regular Interests shall be distributed to the Class R Certificates in respect of the Class R-2
REMIC 2. 31 REMIC 2 Interest Loss Allocation Amount.................................................................32
REMIC 2. 35 REMIC 2 Group 1 Interest Loss Allocation Amount...................36 REMIC 2 Group 2 Interest Loss Allocation Amount...................36 REMIC 2 Group 1 Overcollateralized Amount.........................36 REMIC 2 Group 2 Overcollateralized Amount.........................36 REMIC 2 Group 1 Principal Loss Allocation Amount..................36 REMIC 2 Group 2 Principal Loss Allocation Amount..................37 REMIC 2 Overcollateralization Target Amount.......................37 REMIC 2 Regular Interest LT2A-IO..................................37 REMIC 2 Regular Interest LT2-1AA..................................37 REMIC 2 Regular Interest LT2-AI1..................................37 REMIC 2 Regular Interest LT2-AI2..................................37 REMIC 2 Regular Interest LT2-AI3..................................38 REMIC 2 Regular Interest LT2-AI4..................................38 REMIC 2 Regular Interest LT2-AI5..................................38 REMIC 2 Regular Interest LT2-1M1..................................38 REMIC 2 Regular Interest LT2-1M2..................................38 REMIC 2 Regular Interest LT2-1B...................................38 REMIC 2 Regular Interest LT2-1ZZ..................................38 REMIC 2 Regular Interest LT2-2AA..................................39 REMIC 2 Regular Interest LT2-AII1.................................39 REMIC 2 Regular Interest LT2-AII2.................................39 REMIC 2 Regular Interest LT2-AII3.................................39 REMIC 2 Regular Interest LT2-2M1..................................39 REMIC 2 Regular Interest LT2-2M2..................................39 REMIC 2 Regular Interest LT2-2B...................................40 REMIC 2 Regular Interest LT2-2ZZ..................................40 REMIC 2 Regular Interest LT2P.....................................40 REMIC 2 Regular Interests.........................................40
REMIC 2. (i) The Trustee will make an election to treat the segregated pool of assets consisting of the Group 2 Mortgage Certificates and such amounts as shall be deemed held in the Group 2 Sub-Account as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class R2 Interest will represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions. REMIC 2 will issue three regular interests for purposes of the REMIC Provisions, designated as the Class 2A1 Interest, Class 2A2 Interest and Class 2A3 Interest, each with an initial Uncertificated Balance equal to the Original Class Balance of the Corresponding Certificates and each with a pass-through rate equal to the Pass-Through Rate of the Corresponding Certificates.
REMIC 2. The following table sets forth the designations, principal balances and interest rates for each interest in REMIC 2, each of which (other than the Class LT2-R Lower Tier Interest) is hereby designated as a regular interest in REMIC 2 (the “REMIC 2 Regular Interests”): Class Designation Initial Principal Balance Interest Rate LT2-A $61,007,388.83 (1) LT2-F1 16,020,500.00 (2) LT2-V1 16,020,500.00 (3) LT2-F2 15,547,500.00 (2) LT2-V2 15,547,500.00 (3) LT2-F3 15,088,500.00 (2) LT2-V3 15,088,500.00 (3) LT2-F4 14,643,000.00 (2) LT2-V4 14,643,000.00 (3) LT2-F5 14,211,000.00 (2) LT2-V5 14,211,000.00 (3) LT2-F6 13,790,500.00 (2) LT2-V6 13,790,500.00 (3) LT2-F7 13,384,000.00 (2) LT2-V7 13,384,000.00 (3) LT2-F8 12,988,000.00 (2) LT2-V8 12,988,000.00 (3) LT2-F9 12,605,000.00 (2) LT2-V9 12,605,000.00 (3) LT2-F10 12,232,000.00 (2) LT2-V10 12,232,000.00 (3) LT2-F11 11,871,000.00 (2) LT2-V11 11,871,000.00 (3) LT2-F12 11,520,500.00 (2) LT2-V12 11,520,500.00 (3) LT2-F13 13,546,500.00 (2) LT2-V13 13,546,500.00 (3) LT2-F14 14,503,500.00 (2) LT2-V14 14,503,500.00 (3) LT2-F15 14,391,500.00 (2) LT2-V15 14,391,500.00 (3) LT2-F16 14,113,000.00 (2) LT2-V16 14,113,000.00 (3) LT2-F17 13,944,500.00 (2) LT2-V17 13,944,500.00 (3) LT2-F18 13,666,000.00 (2) LT2-V18 13,666,000.00 (3) LT2-F19 13,444,000.00 (2) LT2-V19 13,444,000.00 (3) Class Designation Initial Principal Balance Interest Rate LT2-V20 13,165,000.00 (3) LT2-F21 12,829,500.00 (2) LT2-V21 12,829,500.00 (3) LT2-F22 12,495,000.00 (2) LT2-V22 12,495,000.00 (3) LT2-F23 43,174,500.00 (2) LT2-V23 43,174,500.00 (3) LT2-F24 23,205,500.00 (2) LT2-V24 23,205,500.00 (3) LT2-F25 20,247,000.00 (2) LT2-V25 20,247,000.00 (3) LT2-F26 15,396,000.00 (2) LT2-V26 15,396,000.00 (3) LT2-F27 12,049,000.00 (2) LT2-V27 12,049,000.00 (3) LT2-F28 9,539,000.00 (2) LT2-V28 9,539,000.00 (3) LT2-F29 7,642,500.00 (2) LT2-V29 7,642,500.00 (3) LT2-F30 6,247,000.00 (2) LT2-V30 6,247,000.00 (3) LT2-F31 5,076,000.00 (2) LT2-V31 5,076,000.00 (3) LT2-F32 4,183,500.00 (2) LT2-V32 4,183,500.00 (3) LT2-F33 3,961,000.00 (2) LT2-V33 3,961,000.00 (3) LT2-F34 3,737,500.00 (2) LT2-V34 3,737,500.00 (3) LT2-F35 3,569,500.00 (2) LT2-V35 3,569,500.00 (3) LT2-F36 3,402,000.00 (2) LT2-V36 3,402,000.00 (3) LT2-F37 3,235,500.00 (2) LT2-V37 3,235,500.00 (3) LT2-F38 3,068,500.00 (2) LT2-V38 3,068,500.00 (3) LT2-F39 2,956,500.00 (2) LT2-V39 2,956,500.00 (3) LT2-F40 2,733,500.00 (2) LT2-V40 2,733,500.00 (3) LT2-F41 2,676,500.00 (2) LT2-V41 2,676,500.00 (3) Class Designation Initial Prin...
REMIC 2. 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 will be designated as “REMIC 2.” The Class R‑2 Interest represents the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass‑Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “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 A-1 $2,200,000,000 Variable2 February, 2034 A-2 $220,000,000 Variable2 February, 2034 A-3 $1,011,070,000 Variable2 February, 2034 A-4 $194,000,000 Variable2 February, 2034 A-5 $132,450,000 Variable2 February, 2034 M‑1 $123,750,000 Variable2 February, 2034 M-2 $112,500,000 Variable2 February, 2034 M-3 $67,500,000 Variable2 February, 2034 M-4 $67,500,000 Variable2 February, 2034 M-5 $56,250,000 Variable2 February, 2034 M-6 $56,250,000 Variable2 February, 2034 M-7 $56,250,000 Variable2 February, 2034 M-8 $45,000,000 Variable2 February, 2034 M‑9 $56,250,000 Variable2 February, 2034 B $33,750,000 Variable2 February, 2034 Class C Interest $67,479,918.86 Variable2 February, 2034 Class P Interest $100.00 N/A4 February, 2034 ___________________ 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.
REMIC 2. 33 REMIC 2 Group 1 Interest Loss Allocation Amount.........................................................33 REMIC 2 Group 2 Interest Loss Allocation Amount.........................................................33 REMIC 2 Group 1 Overcollateralized Amount...............................................................33 REMIC 2 Group 2 Overcollateralized Amount...............................................................33 REMIC 2 Group 1 Principal Loss Allocation Amount........................................................33
REMIC 2. On each Distribution Date, the timing and amounts of principal distributions and allocations of Realized Losses on each Class of REMIC 2 Regular Interests shall be identical to the timing, amounts and allocations in respect of the corresponding Classes of REMIC 1 Regular Interests pursuant to Section 4.10(d). For these purposes, the Class T2-1 and Class T2-11 Interests correspond to the Class T1-1 Interest, the Class T2-2 and Class T2-12 Interests correspond to the Class T1-2 Interest, the Class T2-3 and Class T2-13 Interests correspond to the Class T1-3 Interest, and the Class T2-4, Class T2-5 and Class T2-6 Interests correspond to the Class T1-4, Class T1-5 and Class T1-6 Interests, respectively. Interest will accrue on each of the Class T2-1, Class T2-2 and Class T2-3 Interests at the REMIC 2 Pass-Through Rate. Interest will accrue on each of the Class T2-11, Class T2-12 and Class T2-13 Interests at the
REMIC 2. 27 REMIC 2 Interest Loss Allocation Amount.................................................................27 REMIC 2 Overcollateralization Target Amount.............................................................27 REMIC 2 Regular Interest MT-AA..........................................................................28 REMIC 2 Regular Interest MT-A1..........................................................................28
