Common use of Reserve Fund Clause in Contracts

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termsthis Series Supplement), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and (3) for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termsthis Series Supplement), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriterperson.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund. , The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2000-3, Class A-5." On the Closing Date Date, the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by the Underwriter and will not be an asset of the Trust. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and Relief Act Shortfalls otherwise allocable allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to the Underwriter. For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the -70- instructions of the Master Servicer. In the absence of written direction from the Master Servicer, all funds on deposit from time to time in the Reserve Fund shall be invested in The Bank of New York cash reserves. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC created hereunder, and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter Xxxxxxx, Sachs & Co. shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer Certificate Administrator shall direct the Trustee in writing on writing, prior to the close of business two Business Days prior to each Distribution Date Date, to withdraw amounts on deposit in the Reserve Fund for deposit into the Trust Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a3.05(a)(i), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter Xxxxxxx, Xxxxx & Co. shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. Xxxxxxx, Sachs & Co. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out Xxxxxxx, Xxxxx & Co.out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. Xxxxxxx, Sachs & Co.. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any the REMIC and (2) it shall be owned by the Senior UnderwriterXxxxxxx, Xxxxx & Co., all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any the REMIC to the Reserve Fund will be treated as amounts distributed by any the REMIC to the Senior Underwriter.Xxxxxxx, Sachs & Co.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured any Retail Certificates pursuant to Section 4.02(a), the amount of (i) any Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured any Retail Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms)) and (ii) any Relief Act Shortfalls otherwise allocable to any Retail Certificates pursuant to the definition of Accrued Certificate Interest, and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriterperson.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termsthis Series Supplement), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and (3) for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than On or prior to the Closing Date, the Trustee will shall establish and thereafter maintain a segregated account held in trust for the benefit of Bondholders as herein provided. On or prior to the Closing Date, the Issuer shall make the Initial Deposit to the Reserve Fund. The Reserve Fund shall at all times be maintained as an Eligible Account. The Reserve Fund shall in no event constitute an asset of the REMIC and shall at all times (i) be maintained as an "outside reserve fund" pursuant to U.S. Treasury Regulation 1.860G-2(h); (ii) be owned for federal income tax purposes by the beneficial owners of the Class AX Bonds; (iii) all amounts deposited in the Reserve Fund pursuant to Section 10 hereof shall be treated as a distribution to the Class AX Bondholders; and (iv) not elect to be treated as an association taxable as a corporation under Treasury Regulations Section 301.7701-3(a). Funds on deposit in the Reserve Fund shall be invested by the Trustee at the direction of the Issuer in Eligible Investments. Any investment earnings on such Eligible Investments on deposit in the Reserve Fund shall be released to the Bond Manager on each Payment Date as compensation for its services rendered under the Bond Management Agreement. On the Closing Date the Senior Underwriter shall deposit with the Trusteeeach Payment Date, and the Trustee shall transfer for deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Depositall amounts required to be so transferred pursuant to clauses first and second of Section10(a)(i). The Master Servicer shall direct To the extent that a Basis Risk Shortfall exists on any Payment Date the Trustee in writing shall withdraw from the Reserve Fund and pay such amount to the Class A Bonds on each Distribution such Payment Date along with amounts otherwise payable pursuant to withdraw Section 10. In addition, if on any Payment Date amounts on deposit in the Reserve Fund exceed the Reserve Fund Requirement for deposit into the Certificate Accountsuch date, and to pay such excess shall be payable to the holders of the Insured Certificates Class AX Bonds on such Payment Date along with amounts otherwise payable thereto pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) 10. Upon retirement of the Standard Terms)Class A Bonds, and to the extent of funds any amounts on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee paid to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior UnderwriterClass AX Bonds.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any the REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC the REMIC, and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date Date, the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2005-6, Class I-A-3." Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, UBS Securities LLC shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by UBS Securities LLC and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and (other than any interest shortfalls resulting from Relief Act Shortfalls otherwise allocable Reductions) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to UBS Securities LLC. For federal income tax purposes, the Senior Underwriter UBS Securities LLC shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. If the Trustee does not receive such written investment instructions it shall retain such funds uninvested. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior UnderwriterUBS Securities LLC. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC created hereunder, and (2) it shall be owned by the Senior UnderwriterUBS Securities LLC, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h1.860G 2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a[4.02(a)(i)], the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termshereof), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the any Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and (3) for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.]

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund. , The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2001-6, Class A-3." On the Closing Date Date, the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by the Underwriter and will not be an asset of the Trust. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and Relief Act Shortfalls otherwise allocable allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to the Underwriter. For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. In the absence of written direction from the Master Servicer, all funds on deposit from time to time in the Reserve Fund shall be invested in The Bank of New York cash reserves. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC created hereunder, and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled “Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2003-7, Class I-A-4.” Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, Xxxxxx Xxxxxxx & Co. Incorporated shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by Xxxxxx Xxxxxxx & Co. Incorporated and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a “Reserve Fund Withdrawal”), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of cover any Net Interest Shortfalls (other than any interest shortfalls resulting from Relief Act Reductions and Net Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable Shortfalls) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to Xxxxxx Xxxxxxx & Co. Incorporated. For federal income tax purposes, the Senior Underwriter Xxxxxx Xxxxxxx & Co. Incorporated shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICthe REMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior UnderwriterXxxxxx Xxxxxxx & Co. Incorporated. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any the REMIC created hereunder, and (2) it shall be owned by the Senior UnderwriterXxxxxx Xxxxxxx & Co. Incorporated, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.Table of Contents

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve There is established hereunder a Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset held by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), Indenture Trustee and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, designated the "Reserve Fund WithdrawalFund"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The moneys in the Reserve Fund shall be invested in Permitted Eligible Investments at as provided in Section 5.7 hereof. Any income or earnings on such moneys shall be credited to the written direction Collection Account in the Collection Fund. To the extent necessary or appropriate, the Issuer and the Indenture Trustee may establish Accounts within the Reserve Fund and subaccounts within such Accounts established under this Section. At any time the balance of the Senior UnderwriterReserve Fund is below its Specified Reserve Fund Balance, the Indenture Trustee shall restore the Reserve Fund to its Specified Reserve Fund Balance by transfers on the next Monthly Distribution Date from the following Accounts in the following order of priority: FIRST, from the Collection Account after making all prior distributions on such Monthly Distribution Date therefrom pursuant to Section 5.5.1 hereof and Article IV of the Terms Supplement; and SECOND, from the Excess Surplus Account. All income If the full amount required to restore the Reserve Fund to its Specified Reserve Fund Balance is not available in the Collection Account or Excess Surplus Account on the next succeeding Monthly Distribution Date, the Indenture Trustee shall continue to transfer funds in such order of priority from the Collection Account as they become available and gain realized in accordance with the instructions for transfers from investment such Account pursuant to Section 5.5.1 hereof and Article IV of funds deposited the Terms Supplement and from the Excess Surplus Account until the deficiency in the Reserve Fund has been eliminated. If the Indenture Trustee transferred amounts from the Reserve Fund to cover a Realized Loss on a Financed Student Loan, the Indenture Trustee shall deposit any subsequent payments of principal received on or with respect to such Financed Student Loan into the Reserve Fund. On each Monthly Distribution Date, the Indenture Trustee shall transfer any excess in the Reserve Fund over the Specified Reserve Fund Balance to the Collection Account. After the transfer of any such excess balance, the Reserve Fund shall be deposited used solely for the following purposes in the Reserve Fund for the sole use and exclusive benefit following order of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.priority:

Reserve Fund. No later than On or prior to the Closing Date, the Trustee will establish Master Servicer shall cause to be established and maintain maintained the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Class II-A-3 Reserve Fund, cash in into which an amount equal to $6,200 shall be contributed by the Reserve Fund DepositUnderwriter, to provide coverage with respect to any Class II-A-3 Covered Interest Shortfall Amount. The Master Servicer shall direct the Trustee in writing on For each Distribution Date to withdraw amounts Date, so long as funds remain on deposit in the Class II-A-3 Reserve Fund for deposit into the Certificate AccountFund, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of shall calculate the Standard Terms)Class II-A-3 Covered Interest Shortfall Amount for such Distribution Date, and shall notify the Trustee and the Certificate Insurer by noon New York City time two Business Days prior to the extent of funds on deposit in the Reserve Fund (the amount Distribution Date of such withdrawal for any amount. On each Distribution Date, the "Trustee shall then withdraw from the Class II-A-3 Reserve Fund Withdrawal"Fund, to the extent funds are available therein, the Class II-A-3 Covered Interest Shortfall Amount, and deposit such amount in the Certificate Account for payment to the Class II-A-3 Certificateholders pursuant to Section 4.05(a) (and shall be deemed to have distributed such amount to the Class II-A-3-L Regular Interest pursuant to Section 4.04). For federal income tax purposes, The Trustee shall withdraw from the Senior Underwriter shall be the owner of the Class II-A-3 Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein pay to the contrary, the Reserve Fund shall not be an asset of Underwriter any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, amounts remaining in the Class II-A-3 Reserve Fund on the Distribution Date on which the Certificate Class II-A-3 Principal Balance of the Insured Certificates is has been reduced to zero will zero. Amounts on deposit in the Class II-A-3 Reserve Fund shall not be distributed by the Trustee to the Senior Underwriterinvested and shall not be held in an interest-bearing account. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Class II-A-3 Reserve Fund constitutes a established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2ii) it such fund shall be owned for federal tax purposes by the Senior Underwriter, and the Underwriter shall report all within the meaning amounts of Section 1.860G-2(hincome, deduction, gain or loss accruing therefrom, and (iii) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any the REMIC to the Reserve Fund will fund shall be treated as amounts distributed by any the REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured any Retail Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured any Retail Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termsthis Series Supplement), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriterperson.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2003-1, Class I-A-7." Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, FTN Financial Capital Markets, a division of First Tennessee Bank National Association, shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by FTN Financial Capital Markets and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of cover any Net Interest Shortfalls (other than any interest shortfalls resulting from Relief Act Reductions or Net Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable Shortfalls) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to FTN Financial Capital Markets. For federal income tax purposes, the Senior Underwriter FTN Financial Capital Markets shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICthe REMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior UnderwriterFTN Financial Capital Markets. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any the REMIC created hereunder, and (2) it shall be owned by the Senior UnderwriterFTN Financial Capital Markets, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than On the Closing Date, the Trustee will establish Trustee, as trustee for the benefit of the Insurer and maintain the Reserve FundCertificateholders, shall purchase the Yield Maintenance Agreements from BSFP for the Yield Maintenance Agreements Purchase Price. On In addition, on the Closing Date the Senior Underwriter shall deposit with the TrusteeDate, and the Trustee shall deposit into the Reserve FundFund the Reserve Fund Deposit. Immediately prior to each Distribution Date, cash in the Trustee shall deposit into the Reserve Fund an amount equal to the Reserve Fund DepositAddition. The Master Servicer shall direct On each Distribution Date, to the extent of the balance of deposits in the Reserve Fund in excess of $10,000, the Trustee shall withdraw from the Reserve Fund (to the extent of funds available on deposit therein) amounts to cover the following items in writing the following order of priority: first, as reimbursement to the Certificate Insurer with respect to Cumulative Insurance Payments; and second, to pay the Class A Certificates, on each a pro rata basis, pursuant to Section 4.05, in respect of any Realized Losses to the extent not covered by the Excess Cash Flow. In addition, if following any Distribution Date and the allocation of Realized Losses with respect to withdraw amounts such Distribution Date, the sum of the Overcollateralization Amount and the amount on deposit in the Reserve Fund for deposit into is greater than the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a)Required Overcollateralization Amount plus $10,000, the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to Trustee shall withdraw from the Insured Certificates pursuant to the definition of Accrued Certificate Interest Reserve Fund (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds available on deposit therein), until the sum of the Overcollateralization Amount and the amount on deposit in the Reserve Fund (is equal to the amount Required Overcollateralization Amount plus $10,000, and pay first, to the holders of such withdrawal for the Class A Certificates, on a pro rata basis, any Distribution DateBasis Risk Shortfall Carry-Forward Amount; and second, to the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner holders of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICResidual Right. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriteran Eligible Account. All income and gain realized from investment of funds deposited Amounts held in the Reserve Fund from time to time shall be deposited in continue to constitute assets of the Trust Fund, but not of the REMICs, until released from the Reserve Fund for the sole use and exclusive benefit pursuant to this Section 4.10. Each of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in Yield Maintenance Agreements and the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be constitute an "outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all fund" within the meaning of Section 1.860G-2(hTreasury Regulation ss.1.860G-2(h) and 95 are not assets of the Treasury RegulationsREMICs. The Holders of the Class SB-I Certificates are the owners of the Reserve Fund may not be owned by more than one Person and the Yield Maintenance Agreements and for all federal tax purposes, any amounts transferred by any REMIC the REMICs to the Reserve Fund will be are treated as amounts distributed by any REMIC the REMICs to the Senior UnderwriterHolders of the Class SB-I Certificates. The Trustee shall keep records that accurately reflect the funds on deposit in the Reserve Fund. The Trustee shall invest the Reserve Fund in Permitted Investments. On each Distribution Date, the Trustee shall distribute any interest on the Reserve Fund to Residential Funding. The holder of the Reserve Fund Residual Right shall initially be Residential Funding, as initial holder of the Class SB-I Certificates. The Reserve Fund Residual Rights shall at all times be owned by and allocated among the Class SB-I Certificateholders on a pro rata basis; provided, that in the event of a transfer of any of the Class SB-I Certificates by Residential Funding, the related Reserve Fund Residual Rights may be transferred along with such Class SB-I Certificates, or they may be retained by Residential Funding. For each Distribution Date and each Yield Maintenance Agreement, the Trustee shall pay to Residential Funding, or to Residential Funding's designee, the excess of the amount paid by BSFP to the Trustee pursuant to such Yield Maintenance Agreement over the Reserve Fund Addition for the same Yield Maintenance Agreement. In the event of the early termination of any Yield Maintenance Agreement, the Trustee shall pay to Residential Funding, or to Residential Funding's designee, the excess of the aggregate amount paid by BSFP to the Trustee pursuant to such early termination over the portion of such aggregate amount which represents the interest of the Certificate Owners in Reserve Fund Additions for the same Yield Maintenance Agreement (which portion will be calculated by BSFP or another party with experience valuing instruments such as the Yield Maintenance Agreements, and chosen by the Trustee for this purpose).

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled “Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2003-6, Class A-4.” Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, Xxxxxx Xxxxxxx & Co. Incorporated shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by Xxxxxx Xxxxxxx & Co. Incorporated and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a “Reserve Fund Withdrawal”), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of cover any Net Interest Shortfalls (other than any interest shortfalls resulting from Relief Act Reductions and Net Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable Shortfalls) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to Xxxxxx Xxxxxxx & Co. Incorporated. For federal income tax purposes, the Senior Underwriter Xxxxxx Xxxxxxx & Co. Incorporated shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICthe REMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.Reserve

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall Bear, Stearns & Co. Inc. xxxxl deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall Bear, Stearns & Co. Inc. xxxxx be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income Bear, Stearns & Co. Inc. Xxx xncome and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of Bear, Stearns & Co. Inc. xxx xf its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the Bear, Stearns & Co. Inc. Xx xxe extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior UnderwriterBear, all Stearns & Co. Inc., xxx within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.Bear, Stearns & Co. Inc.

Reserve Fund. No later than the Closing Date, the Trustee will The Issuer shall establish and the Lender shall maintain a segregated trust account (the "Reserve Fund"), which shall be in the name of the Lender "as the Holder of Cakewalk Royalty-Backed Pay-Through Notes," and which shall be in an Eligible Financial Institution, for the receipt of funds deposited into the Reserve Fund. On Thereafter, the Closing Date the Senior Underwriter Lender shall deposit to the Reserve Fund the amounts referred to Section 13.1(a) and Section 13.1(b). If the bank with which the TrusteeReserve Fund is held ceases to be an Eligible Financial Institution, the Lender shall within ten days of obtaining actual knowledge of such cessation, transfer the Reserve Fund to an account maintained with an Eligible Financial Institution selected by the Issuer (unless an Event of Default shall have occurred and not been waived, in which case, such Eligible Financial Institution shall be selected by the Trustee Lender) Funds in the Reserve Fund shall not be commingled with any other monies. All payments to be made from time to time by the Lender to the Noteholders out of funds in the Reserve Fund pursuant to this Indenture shall be made by the Lender as paying agent of the Issuer. Funds on deposit into in the Reserve Fund shall be invested in Eligible Investments at the written direction of the Issuer. Any interest or other earnings realized on funds on deposit in the Reserve Fund shall be retained in the Reserve Fund, cash subject to withdrawal as set forth in an amount equal to the Reserve Fund DepositSection 13.2. The Master Servicer shall direct maximum permissible maturity or, if applicable, the Trustee in writing on each Distribution Date to withdraw latest redemption date of any Eligible Investments made with amounts on deposit in the Reserve Fund for deposit into a particular Payment Date shall be not later than the Certificate Account, and Business Day preceding such Payment Date. All monies deposited from time to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit time in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter pursuant to this Indenture shall be held by the owner Lender as part of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to Collateral for the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction exclusive benefit of the Senior UnderwriterHolders as herein provided. All income and gain realized from investment of funds deposited Monies in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit subject to withdrawal pursuant to Section 13.2 of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriterthis Indenture.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may Underwriter and not be owned by more than one Person and for all federal tax purposes, (3) any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2004-4, Class I-A-5." Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, Bear, Xxxxxxx & Co. Inc. shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by Bear, Xxxxxxx & Co. Inc. and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and (other than any interest shortfalls resulting from Relief Act Shortfalls otherwise allocable Reductions) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Datethe Insured Retail Certificates has been reduced to zero will be distributed to Bear, the "Reserve Fund Withdrawal"). Xxxxxxx & Co. Inc. For federal income tax purposes, the Senior Underwriter Bear, Xxxxxxx & Co. Inc. shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. If the Trustee does not receive such written investment instructions it shall retain such funds uninvested. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.the

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2004-3, Class I-A-3." Amounts on deposit in the Reserve Fund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust Fund. On the Closing Date the Senior Underwriter Date, Citigroup Global Markets Inc. shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by Citigroup Global Markets Inc. and will not be an asset of the Trust Fund. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and (other than any interest shortfalls resulting from Relief Act Shortfalls otherwise allocable Reductions) allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). Insured Retail Certificates has been reduced to zero will be distributed to Citigroup Global Markets Inc. For federal income tax purposes, the Senior Underwriter Citigroup Global Markets Inc. shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. If the Trustee does not receive such written investment instructions it shall retain such funds uninvested. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. Citigroup Global Markets Inc. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC created hereunder, and (2) it shall be owned by the Senior UnderwriterCitigroup Global Markets Inc., all within the meaning of Section 1.860G-2(h1.860G- 2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the any Insured Certificates pursuant to Section 4.02(a[4.02(a)(i)], the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the any Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Termshereof), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "“Reserve Fund Withdrawal"”). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the any Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and REMIC, (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and (3) for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.]

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund. , Bankers Trust Company, as trustee for the registered holders of Residential Funding Mortgage Securities I, Inc., Mortgage Pass-Through Certificates, Series 1996-S22, Class A-4." On the Closing Date the Senior Underwriter shall deposit with the TrusteeDate, and the Trustee shall deposit from amounts received from Salomon Brothers into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit$8,000.00. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Class A-4 Certificates pursuant to Section 4.02(a), 4.02(a)(i)(X) the amount of any Accrued Certificate Interest thereon not payable from the Available Distribution Amount for such Distribution Date pursuant to Section 4.02(a)(i)(X) and the amount of any Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Class A-4 Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), hereof and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the a "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter Salomon Brothers shall be the owner of the Reserve Fund and shall report xxx xxxxx xxxxxt all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC I or REMIC II. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterSalomon Brothers. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of Salomon Brothers and shall be remitted by the Reserve FundTrustee to Salomon Brothers semi-annually on the first Business Day of the month following such Distribution Date. The amount of any loss incurred in respect of the any such investments shall be deposited in the Reserve Fund by the Senior Underwriter Salomon Brothers out of its own funds immediately as realized without xxxxxxxx xxxxxxx any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Class A-4 Certificates is reduced to zero will be distributed by the Trustee to the Senior UnderwriterSalomon Brothers. To NY1-172102.4 110 the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any either REMIC I or REMIC II and (2) it shall be owned by the Senior UnderwriterSalomon Brothers, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior UnderwriterPerson.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain the Reserve Fund. On the Closing Date Date, the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit into the Reserve Fund, cash in an amount equal to the Reserve Fund Deposit. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw amounts on deposit in the Reserve Fund for deposit into the Certificate Account, and to pay to the holders of the Insured Certificates pursuant to Section 4.02(a), the amount of Prepayment Interest Shortfalls and Relief Act Shortfalls otherwise allocable to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds on deposit in the Reserve Fund (the amount of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal"). For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMIC. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior Underwriter. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Certificate Principal Balance of the Insured Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.

Reserve Fund. No later than the Closing Date, the Trustee will establish and maintain with itself a segregated trust account that is an Eligible Account, which shall be titled "Reserve Fund, The Bank of New York, as Trustee for the registered Holders of First Horizon Mortgage Pass-Through Certificates, Series 2000-4, Class A-3." Amounts on deposit in the Reserve FundFund shall be held by the Trustee in trust for the benefit of the Holders of the Insured Retail Certificates, but such amounts shall not constitute part of the Trust. On the Closing Date Date, the Senior Underwriter shall deposit with the Trustee, and the Trustee shall deposit the Reserve Fund Deposit into the Reserve Fund, cash in an amount equal to the . The Reserve Fund Depositwill be beneficially owned by the Underwriter and will not be an asset of the Trust. The Master Servicer shall direct the Trustee in writing on each Distribution Date to withdraw will make withdrawals of amounts on deposit in the Reserve Fund for deposit into the Certificate Account(each, and to pay a "Reserve Fund Withdrawal"), to the holders of extent funds are available in the Insured Certificates pursuant Reserve Fund, on each Distribution Date to Section 4.02(a), the amount of Prepayment cover any Net Interest Shortfalls and Relief Act Shortfalls otherwise allocable allocated to the Insured Certificates pursuant to the definition of Accrued Certificate Interest (to the extent not offset by the Master Servicer pursuant to Section 3.16(e) of the Standard Terms), and to the extent of funds Retail Certificates. Any amount remaining on deposit in the Reserve Fund (on the amount Distribution Date on which the Certificate Principal Balance of such withdrawal for any Distribution Date, the "Reserve Fund Withdrawal")Insured Retail Certificates has been reduced to zero will be distributed to the Underwriter. For federal income tax purposes, the Senior Underwriter shall be the owner of the Reserve Fund and shall report all items of income, deduction, gain or loss arising therefrom. Notwithstanding anything herein to the contrary, the Reserve Fund shall not be an asset of any REMICREMIC created hereunder. The Reserve Fund shall be invested in Permitted Investments at the written direction of the Senior UnderwriterMaster Servicer. The Trustee shall have no liability for investment losses in Permitted Investments in accordance with the instructions of the Master Servicer. All income and gain realized from investment of funds deposited in the Reserve Fund shall be deposited in the Reserve Fund for the sole use and exclusive benefit of the Reserve Fund. The amount of any loss incurred in respect of any such investments shall be deposited in the Reserve Fund by the Senior Underwriter out of its own funds immediately as realized without any right of reimbursement. The balance, if any, remaining in the Reserve Fund on the Distribution Date on which the Class Certificate Principal Balance of the Insured Retail Certificates is reduced to zero will be distributed by the Trustee to the Senior Underwriter. To the extent that the Reserve Fund constitutes a reserve fund for federal income tax purposes, (1) it shall be an outside reserve fund and not an asset of any REMIC created hereunder, and (2) it shall be owned by the Senior Underwriter, all within the meaning of Section 1.860G-2(h1.860G- 2(h) of the Treasury Regulations. The Reserve Fund may not be owned by more than one Person and for all federal tax purposes, any amounts transferred by any REMIC to the Reserve Fund will be treated as amounts distributed by any REMIC to the Senior Underwriter.