Common use of REMIC Elections Clause in Contracts

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Class/Subgroup Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1-Pool $1,272,075,328.02 (1) N/A(7) 1-Sub-A $ 12,980,360.49 (1) N/A 1-Sub-B $ 12,980,360.49 (1) N/A Subgroup A-X 1-AX(3) (3) 6.50% A-X3 1-AX(4) (4) 6.00% A-X4 1-AX(5) (5) 6.50% A-X5 1-AX(6) (6) 5.00% A-X6 Residual _______________

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “"REMIC I-1,” " the assets of the Trust Estate described in the definition of the term “"REMIC I-2,” " and the assets of the Trust Estate described in the definition of the term “"REMIC I-3” " as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Class/Subgroup Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1-Pool $1,272,075,328.02 968,873,463.18 (1) N/A(7A(4) 1-Sub-A $ 12,980,360.49 9,886,463.91 (1) N/A 1-Sub-B $ 12,980,360.49 9,886,463.91 (1) N/A Subgroup A-X 1-AX(3AX(1) (2) 5.50% A-X1 1-AX(2) (3) 6.50% A-X3 1-AX(4) (4) 6.00% A-X4 1-AX(5) (5) 6.50% A-X5 1-AX(6) (6) 5.00% A-X6 Residual _______________X2 Residual

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Class/Subgroup Class Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1I-VII-Pool $1,272,075,328.02 810,632,300.66 (1) N/A(7A(9) 1I-VII-Sub-A $ 12,980,360.49 8,271,758.17 (1) N/A 1VIII-XIV-Pool 257,475,365.70 (2) N/A VIII-XIV-Sub-B $ 12,980,360.49 2,627,299.65 (12) N/A Subgroup 1-AX(1) (3) 7.50% A-X 1-AX(3) (34) 6.507.50% A-X3 X 1-AX(4) (45) 6.007.50% A-X4 X 1-AX(5) (56) 6.507.50% A-X5 X 1-AX(6) (67) 5.007.50% A-X6 X Residual _______________

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” and the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; I-1 and the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 I-1 and REMIC I-3I-2. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Initial Certificate Balance Class/Subgroup Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1Subgroup I-Pool $1,272,075,328.02 (1) N/A(7) 1-Sub-A $ 12,980,360.49 (1) N/A 1-SubIA-1 $100,000,000.00 6.00% IA-1, IA-2 1-B IA-3 $168,194,400.00 6.00% IA-3 1-IA-4 $ 12,980,360.49 (42,048,600.00 6.00% IA-4 Subgroup II-A 1) N/A -IIA-1 $126,000,000.00 6.00% IIA-1, IIA-2 1-IIA-3 $ 96,741,600.00 6.00% IIA-3 1-IIA-4 $ 24,185,400.00 6.00% IIA-4 1-IIA-P $ 116,091.00 0.00% IIA-P Subgroup A-X 1-AX(3) AX (3) 6.50% A-X3 X Subgroup B 1-AX(4) (4) B $16,054,204.63 6.00% A-X4 1-AX(5) (5) 6.50% A-X5 1-AX(6) (6) 5.00% A-X6 B1, B2, B3, B4, B5, B6 Residual _______________

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Class/Subgroup Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1-Pool $1,272,075,328.02 1,135,199,929.50 (1) N/A(7A(4) 1-Sub-A $ 12,980,360.49 $11,583,672.75 (1) N/A 1-Sub-B $ 12,980,360.49 $11,583,672.75 (1) N/A Subgroup A-X 1-AX(3AX (2) 6.50% A-X 1-AX (3) 6.50% A-X3 1-AX(4) (4) 6.00% A-X4 1-AX(5) (5) 6.50% A-X5 1-AX(6) (6) 5.00% A-X6 X Residual _______________

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Initial Certificate Balance Class/Subgroup Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1-Pool $1,272,075,328.02 (1) N/A(7) 1-Sub-A $ 12,980,360.49 (1) N/A 1-Sub-B $ 12,980,360.49 (1) N/A Subgroup A-X 1-AX(1) (2) 5.50% A-X1 1-AX(3) (3) 6.50% A-X3 1-AX(4) (4) 6.00% A-X4 1-AX(5) (5) 6.50% A-X5 1-AX(6) (6) 5.00% A-X6 Residual _______________

REMIC Elections. Elections shall be made by the Trustee to treat the assets of the Trust Estate described in the definition of the term “REMIC I-1,” the assets of the Trust Estate described in the definition of the term “REMIC I-2,” and the assets of the Trust Estate described in the definition of the term “REMIC I-3” as separate REMICs for federal income tax purposes. The REMIC I-1 Regular Interests will constitute the regular interests in REMIC I-1; the REMIC I-2 Regular Interests will constitute the REMIC regular interests in REMIC I-2; and the REMIC I-3 Certificates will constitute the regular interests in REMIC I-3. The Class R Certificates will represent ownership of the sole class of residual interest in REMIC I-1, REMIC I-2 and REMIC I-3. REMIC I-1 Interests. REMIC I-1 shall issue each of the following Classes of Interests in book-entry form, each of which shall be a Class of REMIC I-1 Interests, having the following Certificate Rates and initial principal balances: Class/Subgroup Class Initial Certificate Balance Or Notional Amount Certificate Rate Corresponding Class 1I-VII-Pool $1,272,075,328.02 810,632,300.66 (1) N/A(7A(9) 1VIII-SubXIV-A $ 12,980,360.49 Pool 257,475,365.70 (12) N/A 1-Sub-B $ 12,980,360.49 AX(1) (13) N/A Subgroup 7.50% A-X 1-AX(3) (34) 6.507.50% A-X3 X 1-AX(4) (45) 6.007.50% A-X4 X 1-AX(5) (56) 6.507.50% A-X5 X 1-AX(6) (67) 5.007.50% A-X6 X Residual _______________