Common use of REMIC 2 Clause in Contracts

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. 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 Excess Interest and disregarding the deemed paid obligation to make payments in respect of the REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxxvi) or (xxxvii)Class Payment Shortfalls) 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 AV-4 Interest being related to the Class AV-4 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 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 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, and the REMIC 2 B-4 Interest being related to the Class B-4 Certificates, ). Amounts shall be deemed paid and allocated to the REMIC 2 B-5 IO Interest being related equal to amounts paid and allocated to the Class B-5 Certificates and the REMIC 2 B-6 Interest being related to the Class B-6 Certificates)LT1-IO Interest. 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 CE 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 CE 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. 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 Excess Interest and disregarding the deemed paid obligation to make payments in respect of the REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxxvi) or (xxxvii)Class Payment Shortfalls) are paid or allocated in respect of the related Certificates (the REMIC 2 AV-1 A-1 Interest being related to the Class AV-1 A-1 Certificates, the REMIC 2 AV-2 A-2A Interest being related to the Class AV-2 A-2A Certificates, the REMIC 2 AV-3 A-2B Interest being related to the Class AV-3 A-2B Certificates, the REMIC 2 A-2C Interest being related to the Class A-2C Certificates, the REMIC 2 A-2D Interest being related to the Class A-2D 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 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 Certificates, the REMIC 2 M-7 Interest being related to the Class M-7 Certificates, the REMIC 2 M-8 Interest being related to the Class M-8 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, Certificates and the REMIC 2 B-3 Interest being related to the Class B-3 Certificates, ). Amounts shall be deemed paid and allocated to the REMIC 2 B-4 CE-2 Interest being related equal to amounts paid and allocated to the Class B-4 Certificates, LT1-CE2 Interest. Amounts shall be deemed paid and allocated to the REMIC 2 B-5 IO Interest being related equal to amounts paid and allocated to the Class B-5 Certificates and the REMIC 2 B-6 Interest being related to the Class B-6 Certificates)LT1-IO Interest. 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 CE-1 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 CE-1 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. 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 Excess 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)from sources other than the Reserve Account) are paid or allocated in respect of the related Certificates (the REMIC 2 AV-1 A-1 Interest being related to the Class AV-1 A-1 Certificates, the REMIC 2 AV-2 A-2 Interest being related to the Class AV-2 A-2 Certificates, the REMIC 2 AV-3 A-3 Interest being related to the Class AV-3 A-3 Certificates, the REMIC 2 A-4 Interest being related to the Class A-4 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 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 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, Certificates and 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-2R-2 Interest. If on any Distribution Date the Certificate Principal Balance of any Class of Certificates is increased pursuant to the last sentence of the definition of “Certificate Principal Balance”, then there shall be an equivalent increase in the principal amounts of the REMIC 2 Regular Interests, with each Corresponding REMIC 2 Regular Interest having an increase in its principal amount equal to the increase in the Certificate Principal Balance of the Corresponding Cap Carryover Certificates.

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)from sources other than the Reserve Account) are paid or allocated in respect of the related Certificates (the REMIC 2 AV-1 AV 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 AV 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 M-5 Interest being related to the Class M-5 Certificates, the REMIC 2 M-6 Interest being related to the Class M-6 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, Certificates and 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. On each Distribution Date, the REMIC 2 Regular Interests shall receive distributions of interest and principal equal in the aggregate to amounts distributable pursuant to Sections 4.01 and 4.02 (other than to the Class R Certificates) from amounts on deposit in the Distribution Account. Such amounts with respect to interest shall accrue at the rate specified in the Preliminary Statement with respect to each REMIC 2 Regular Interest. Any shortfalls of interest on the Group I Mortgage Loans will be deemed allocated, first, to have received the amounts deemed distributed in respect of Class LT2-I-X Interest, then to the remaining REMIC 2 Regular Interests (other than the REMIC 1 2 IO Interests) designated with a "I" in numerical order and finally to the REMIC 2 Regular Interests designated with both a "I" and an "IO". Any shortfalls of interest on the Group II Mortgage Loans will be allocated, first, to the Class LT2-II-X Interest, then to the remaining REMIC 2 Regular Interests (other than the REMIC 2 IO Interests) designated with a "II" in numerical order and finally to the REMIC 2 Regular Interests designated with both a "II" and an "IO". Principal, interest, shortfalls and Realized Losses shall be deemed paid to and allocated among Amounts in reduction of principal balance of the REMIC 2 Regular Interests in respect of Loan Group I shall be allocated first, to the Class LT2-I-X Interest and then to the remaining REMIC 2 Regular Interests (other than the REMIC 2 IO Interests) with the designation "I" in numerical order, so that the principal balance of each REMIC 2 Regular Interest (other than the REMIC 2 IO Interests) designated with a "I" is equal to the principal balance of the REMIC 1 Regular Interest designated with a "I" that has the same numerical designation. Amounts in reduction of principal balance of the REMIC 2 Regular Interests in respect of Loan Group II shall be allocated first, to the Class LT2-II-X Interest and then to the remaining REMIC 2 Regular Interests (other than the REMIC 2 IO Interests) with the designation "II" in numerical order, so that the principal balance of each REMIC 2 Regular Interest (other than the REMIC 2 IO Interests) designated with a "II" is equal to the principal balance of the REMIC 1 Regular Interest designated with a "II" that has the same numerical designation. Realized Losses in respect of principal shall be allocated in the same manner as such items (other than payments amounts in reduction of principal balance. Such amounts with respect to principal and any Realized Losses with respect to principal shall reduce the Cap Carryover Certificates in respect of Net WAC Carryover Amounts, which shall be deemed paid in respect principal balances of the REMIC 2 X/N Interest if made pursuant Regular Interests so that (i) in the aggregate, such balances correspond to Section 4.02(b)(xxxvi) or (xxxvii)) are paid or allocated in respect the Pool Balance of the Mortgage Loans as of the last day of the related Certificates Collection Period, (ii) in the REMIC 2 AV-1 Interest being related to the Class AV-1 Certificatesaggregate, 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 balances of the REMIC 2 X/N Interest so that such principal amount shall equal Regular Interests with the excess of (i) designation "I" correspond to the Pool Balance of the Group I Mortgage Loans as of the close last day of the related Collection Period over and (iiiii) in the aggregate Certificate Principal Balance aggregate, the principal balances 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 with the designation "II" correspond to the Class R Certificates in respect of the Class R-2110

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 LIBOR Carryover Amounts, which shall be deemed paid in respect of the REMIC 2 X/N Interest if made pursuant to Section 4.02(b)(xxxvi4.02(b)(xxvii) or (xxxviixxviii)) 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 AF-3 Interest being related to the Class AV-2 Certificates, the REMIC 2 AV-3 Interest being related to the Class AV-3 AF-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, Certificates and 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