ACE SECURITIES CORP. Depositor COUNTRYWIDE HOME LOANS SERVICING LP Servicer WELLS FARGO BANK, NATIONAL ASSOCIATION Master Servicer and Securities Administrator HSBC BANK USA, NATIONAL ASSOCIATION Trustee POOLING AND SERVICING AGREEMENT Dated as of...
ACE
SECURITIES CORP.
Depositor
COUNTRYWIDE
HOME LOANS SERVICING LP
Servicer
XXXXX
FARGO BANK, NATIONAL ASSOCIATION
Master
Servicer and Securities Administrator
HSBC
BANK
USA, NATIONAL ASSOCIATION
Trustee
Dated
as
of October 1, 2006
Asset
Backed Pass-Through Certificates
TABLE
OF
CONTENTS
|
ARTICLE
I
|
DEFINITIONS
|
9
|
|
SECTION
1.01.
|
Defined
Terms.
|
9
|
|
SECTION
1.02.
|
Allocation
of Certain Interest Shortfalls.
|
85
|
|
ARTICLE
II
|
CONVEYANCE
OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
|
88
|
|
SECTION
2.01.
|
Conveyance
of the Mortgage Loans.
|
88
|
|
SECTION
2.02.
|
Acceptance
of REMIC I by Trustee.
|
89
|
|
SECTION
2.03.
|
Repurchase
or Substitution of Mortgage Loans.
|
89
|
|
SECTION
2.04.
|
Representations
and Warranties of the Master Servicer.
|
92
|
|
SECTION
2.05.
|
Representations,
Warranties and Covenants of the Servicer.
|
94
|
|
SECTION
2.06.
|
Issuance
of the REMIC I Regular Interests and the Class R-I
Interest.
|
96
|
|
SECTION
2.07.
|
Conveyance
of the REMIC I Regular Interests; Acceptance of XXXXX XX and REMIC
III by
the Trustee.
|
96
|
|
SECTION
2.08.
|
Issuance
of the Residual Certificates.
|
97
|
|
SECTION
2.09.
|
Establishment
of the Trust.
|
97
|
|
SECTION
2.10.
|
Purpose
and Powers of the Trust.
|
97
|
|
SECTION
2.11.
|
Representations
and Warranties of the Trustee.
|
98
|
|
ARTICLE
III
|
ADMINISTRATION
AND SERVICING OF THE MORTGAGE LOANS; ACCOUNTS
|
99
|
|
SECTION
3.01.
|
The
Servicer to Act as Servicer.
|
99
|
|
SECTION
3.02.
|
Sub-Servicing
Agreements Between the Servicer and Sub-Servicers.
|
102
|
|
SECTION
3.03.
|
Successor
Sub-Servicers.
|
103
|
|
SECTION
3.04.
|
No
Contractual Relationship Between Sub-Servicer, Subcontractor, Master
Servicer, Trustee or the Certificateholders.
|
103
|
|
SECTION
3.05.
|
Assumption
or Termination of Sub-Servicing Agreement by Successor
Servicer.
|
104
|
|
SECTION
3.06.
|
Collection
of Certain Mortgage Loan Payments.
|
104
|
|
SECTION
3.07.
|
Collection
of Taxes, Assessments and Similar Items; Servicing
Accounts.
|
105
|
|
SECTION
3.08.
|
Collection
Account and Distribution Account.
|
106
|
|
SECTION
3.09.
|
Withdrawals
from the Collection Account and Distribution Account.
|
108
|
|
SECTION
3.10.
|
Investment
of Funds in the Investment Accounts.
|
110
|
|
SECTION
3.11.
|
Maintenance
of Hazard Insurance, Errors and Omissions and Fidelity Coverage and
Primary Mortgage Insurance.
|
112
|
|
SECTION
3.12.
|
Enforcement
of Due-on-Sale Clauses; Assumption Agreements.
|
114
|
|
SECTION
3.13.
|
Realization
Upon Defaulted Mortgage Loans.
|
115
|
|
SECTION
3.14.
|
Trustee
to Cooperate; Release of Mortgage Files.
|
117
|
|
SECTION
3.15.
|
Servicing
Compensation.
|
119
|
|
SECTION
3.16.
|
Collection
Account Statements.
|
119
|
|
SECTION
3.17.
|
Annual
Statement as to Compliance.
|
119
|
i
|
SECTION
3.18.
|
Assessments
of Compliance and Attestation Reports.
|
120
|
|
SECTION
3.19.
|
Annual
Certification; Indemnification and Remedies; Additional
Information.
|
121
|
|
SECTION
3.20.
|
Access
to Certain Documentation.
|
125
|
|
SECTION
3.21.
|
Title,
Management and Disposition of REO Property.
|
125
|
|
SECTION
3.22.
|
Obligations
of the Servicer in Respect of Prepayment Interest Shortfalls; Relief
Act
Interest Shortfalls.
|
128
|
|
SECTION
3.23.
|
Obligations
of the Servicer in Respect of Mortgage Rates and Monthly
Payments.
|
129
|
|
SECTION
3.24.
|
Reserve
Fund.
|
129
|
|
SECTION
3.25.
|
Advance
Facility.
|
131
|
|
SECTION
3.26.
|
Indemnification.
|
133
|
|
SECTION
3.27.
|
Additional
Representations and Warranties.
|
133
|
|
ARTICLE
IV
|
ADMINISTRATION
AND MASTER SERVICING OF THE MORTGAGE LOANS BY THE MASTER
SERVICER
|
135
|
|
SECTION
4.01.
|
Master
Servicer.
|
135
|
|
SECTION
4.02.
|
REMIC-Related
Covenants.
|
136
|
|
SECTION
4.03.
|
Monitoring
of Servicer.
|
136
|
|
SECTION
4.04.
|
Fidelity
Bond.
|
137
|
|
SECTION
4.05.
|
Power
to Act; Procedures.
|
137
|
|
SECTION
4.06.
|
Due-on-Sale
Clauses; Assumption Agreements.
|
138
|
|
SECTION
4.07.
|
Documents,
Records and Funds in Possession of Master Servicer To Be Held for
Trustee.
|
138
|
|
SECTION
4.08.
|
Standard
Hazard Insurance and Flood Insurance Policies.
|
139
|
|
SECTION
4.09.
|
Presentment
of Claims and Collection of Proceeds.
|
139
|
|
SECTION
4.10.
|
Maintenance
of Primary Mortgage Insurance Policies.
|
139
|
|
SECTION
4.11.
|
Trustee
to Retain Possession of Certain Insurance Policies and
Documents.
|
140
|
|
SECTION
4.12.
|
Realization
Upon Defaulted Mortgage Loans.
|
140
|
|
SECTION
4.13.
|
Compensation
for the Master Servicer.
|
140
|
|
SECTION
4.14.
|
REO
Property.
|
141
|
|
SECTION
4.15.
|
Master
Servicer Annual Statement of Compliance.
|
141
|
|
SECTION
4.16.
|
Master
Servicer Assessments of Compliance.
|
142
|
|
SECTION
4.17.
|
Master
Servicer Attestation Reports.
|
143
|
|
SECTION
4.18.
|
Annual
Certification.
|
144
|
|
SECTION
4.19.
|
Obligation
of the Master Servicer in Respect of Prepayment Interest
Shortfalls.
|
145
|
|
SECTION
4.20.
|
Prepayment
Penalty Verification.
|
145
|
|
ARTICLE
V
|
PAYMENTS
TO CERTIFICATEHOLDERS
|
147
|
|
SECTION
5.01.
|
Distributions.
|
147
|
|
SECTION
5.02.
|
Statements
to Certificateholders.
|
161
|
|
SECTION
5.03.
|
Servicer
Reports; P&I Advances.
|
165
|
|
SECTION
5.04.
|
Allocation
of Realized Losses.
|
166
|
|
SECTION
5.05.
|
Compliance
with Withholding Requirements.
|
169
|
ii
|
SECTION
5.06.
|
Reports
Filed with Securities and Exchange Commission.
|
169
|
|
SECTION
5.07.
|
Supplemental
Interest Trust.
|
174
|
|
SECTION
5.08.
|
Tax
Treatment of Swap Payments and Swap Termination Payments.
|
176
|
|
ARTICLE
VI
|
THE
CERTIFICATES
|
178
|
|
SECTION
6.01.
|
The
Certificates.
|
178
|
|
SECTION
6.02.
|
Registration
of Transfer and Exchange of Certificates.
|
180
|
|
SECTION
6.03.
|
Mutilated,
Destroyed, Lost or Stolen Certificates.
|
186
|
|
SECTION
6.04.
|
Persons
Deemed Owners.
|
187
|
|
SECTION
6.05.
|
Certain
Available Information.
|
187
|
|
ARTICLE
VII
|
THE
DEPOSITOR, THE SERVICER AND THE MASTER SERVICER
|
189
|
|
SECTION
7.01.
|
Liability
of the Depositor, the Servicer and the Master Servicer.
|
189
|
|
SECTION
7.02.
|
Merger
or Consolidation of the Depositor, the Servicer or the Master
Servicer.
|
189
|
|
SECTION
7.03.
|
Limitation
on Liability of the Depositor, the Servicer, the Master Servicer
and
Others.
|
189
|
|
SECTION
7.04.
|
Limitation
on Resignation of the Servicer.
|
190
|
|
SECTION
7.05.
|
Limitation
on Resignation of the Master Servicer.
|
192
|
|
SECTION
7.06.
|
Assignment
of Master Servicing.
|
192
|
|
SECTION
7.07.
|
Rights
of the Depositor in Respect of the Servicer and the Master
Servicer.
|
193
|
|
SECTION
7.08.
|
Duties
of the Credit Risk Manager.
|
194
|
|
SECTION
7.09.
|
Limitation
Upon Liability of the Credit Risk Manager.
|
194
|
|
SECTION
7.10.
|
Removal
of the Credit Risk Manager.
|
194
|
|
ARTICLE
VIII
|
DEFAULT
|
195
|
|
SECTION
8.01.
|
Servicer
Events of Default.
|
195
|
|
SECTION
8.02.
|
Master
Servicer to Act; Appointment of Successor.
|
200
|
|
SECTION
8.03.
|
Notification
to Certificateholders.
|
201
|
|
SECTION
8.04.
|
Waiver
of Events of Default.
|
201
|
|
ARTICLE
IX
|
CONCERNING
THE TRUSTEE AND THE SECURITIES ADMINISTRATOR
|
203
|
|
SECTION
9.01.
|
Duties
of Trustee and Securities Administrator.
|
203
|
|
SECTION
9.02.
|
Certain
Matters Affecting Trustee and Securities Administrator.
|
204
|
|
SECTION
9.03.
|
Trustee
and Securities Administrator not Liable for Certificates or Mortgage
Loans.
|
207
|
|
SECTION
9.04.
|
Trustee
and Securities Administrator May Own Certificates.
|
207
|
|
SECTION
9.05.
|
Fees
and Expenses of Trustee, Custodian and Securities
Administrator.
|
207
|
|
SECTION
9.06.
|
Eligibility
Requirements for Trustee and Securities Administrator.
|
208
|
|
SECTION
9.07.
|
Resignation
and Removal of Trustee and Securities Administrator.
|
209
|
|
SECTION
9.08.
|
Successor
Trustee or Securities Administrator.
|
210
|
|
SECTION
9.09.
|
Merger
or Consolidation of Trustee or Securities Administrator.
|
210
|
|
SECTION
9.10.
|
Appointment
of Co-Trustee or Separate Trustee.
|
211
|
iii
|
SECTION
9.11.
|
Appointment
of Office or Agency.
|
212
|
|
SECTION
9.12.
|
Representations
and Warranties.
|
212
|
|
ARTICLE
X
|
TERMINATION
|
214
|
|
SECTION
10.01.
|
Termination
Upon Repurchase or Liquidation of All Mortgage Loans.
|
214
|
|
SECTION
10.02.
|
Additional
Termination Requirements.
|
216
|
|
ARTICLE
XI
|
REMIC
PROVISIONS
|
218
|
|
SECTION
11.01.
|
REMIC
Administration.
|
218
|
|
SECTION
11.02.
|
Prohibited
Transactions and Activities.
|
220
|
|
SECTION
11.03.
|
Indemnification.
|
221
|
|
ARTICLE
XII
|
MISCELLANEOUS
PROVISIONS
|
222
|
|
SECTION
12.01.
|
Amendment.
|
222
|
|
SECTION
12.02.
|
Recordation
of Agreement; Counterparts.
|
223
|
|
SECTION
12.03.
|
Limitation
on Rights of Certificateholders.
|
223
|
|
SECTION
12.04.
|
Governing
Law.
|
224
|
|
SECTION
12.05.
|
Notices.
|
224
|
|
SECTION
12.06.
|
Severability
of Provisions.
|
225
|
|
SECTION
12.07.
|
Notice
to Rating Agencies.
|
225
|
|
SECTION
12.08.
|
Article
and Section References.
|
226
|
|
SECTION
12.09.
|
Grant
of Security Interest.
|
226
|
|
SECTION
12.10.
|
Survival
of Indemnification.
|
227
|
|
SECTION
12.11.
|
Intention
of the Parties and Interpretation.
|
227
|
|
SECTION
12.12.
|
Indemnification.
|
228
|
|
SECTION
12.13.
|
Swap
Provider as a Third Party Beneficiary.
|
228
|
iv
|
Exhibits
|
|
|
Exhibit
A-1
|
Form
of Class A Certificate
|
|
Exhibit
A-2
|
Form
of Class M-[1][2][3][4][5][6][7][8][9] Certificate
|
|
Exhibit
A-3
|
Form
of Class M-10 Certificate
|
|
Exhibit
A-4
|
Form
of Class CE Certificate
|
|
Exhibit
A-5
|
Form
of Class P Certificate
|
|
Exhibit
A-6
|
Form
of Class R Certificate
|
|
Exhibit B-1
|
Form
of Transferor Representation Letter and Form of Transferee Representation
Letter in Connection with Transfer of the Class M-10 Certificates,
Class P
Certificates, Class CE Certificates and Residual Certificates Pursuant
to
Rule 144A Under the Securities Act
|
|
Exhibit
B-2
|
Form
of Transferor Representation Letter and Form of Transferee Representation
Letter in Connection with Transfer of the Class M-10 Certificates,
Class P
Certificates and Class CE Certificates to Regulation S Under the
Securities Act
|
|
Exhibit
B-3
|
Form
of Transferor Representation Letter and Form of Transferee Representation
Letter in Connection with Transfer of the Class M-10 Certificates,
Class P
Certificates, Class CE Certificates and Residual Certificates Pursuant
to
Rule 501(a) Under the Securities Act
|
|
Exhibit
B-4
|
Form
of Transfer Affidavit and Agreement and Form of Transferor Affidavit
in
Connection with Transfer of Residual Certificates
|
|
Exhibit C
|
Form
of Back-Up Certification
|
|
Exhibit D
|
Form
of Power of Attorney
|
|
Exhibit E
|
Servicing
Criteria
|
|
Exhibit F
|
Mortgage
Loan Purchase Agreement
|
|
Exhibit G
|
Form
10-D, Form 8-K and Form 10-K Reporting Responsibility
|
|
Exhibit H
|
Additional
Disclosure Notification
|
|
Exhibit I
|
Swap
Agreement
|
|
Exhibit J
|
Cap
Contracts
|
|
Schedule 1
|
Mortgage
Loan Schedule
|
|
Schedule 2
|
Prepayment
Charge Schedule
|
|
Schedule 3
|
Reserved
|
|
Schedule 4
|
Standard
File Layout - Delinquency Reporting and Realized Losses and
Gains
|
|
Schedule 5
|
Standard
File Layout - Master Servicing
|
|
Schedule 6
|
Data
Requirements of Servicing Advances Incurred Prior to Cut-off
Date
|
v
This
Pooling and Servicing Agreement, is dated and effective as of October 1,
2006, among ACE SECURITIES CORP., as Depositor, COUNTRYWIDE HOME LOANS SERVICING
LP, as Servicer, XXXXX FARGO BANK, NATIONAL ASSOCIATION, Master Servicer and
Securities Administrator and HSBC BANK USA, NATIONAL ASSOCIATION, as
Trustee.
PRELIMINARY
STATEMENT:
The
Depositor intends to sell pass-through certificates to be issued hereunder
in
multiple classes, which in the aggregate will evidence the entire beneficial
ownership interest of the Trust Fund created hereunder. The Trust Fund will
consist of a segregated pool of assets comprised of the Mortgage Loans and
certain other related assets subject to this Agreement.
REMIC
I
As
provided herein, the Securities Administrator will elect to treat the segregated
pool of assets consisting of the Mortgage Loans and certain other related assets
subject to this Agreement (other than the Reserve Fund and, for the avoidance
of
doubt, the Supplemental Interest Trust, the Cap Contracts and the Swap
Agreement) as a REMIC for federal income tax purposes, and such segregated
pool
of assets will be designated as “REMIC I”. The Class R-I Interest will be the
sole class of “residual interests” in REMIC I for purposes of the REMIC
Provisions (as defined herein). The following table irrevocably sets forth
the
designation, the REMIC I Remittance Rate, the initial Uncertificated Balance
and, for purposes of satisfying Treasury regulation
Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each
of the REMIC I Regular Interests (as defined herein). None of the REMIC I
Regular Interests will be certificated.
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
I
|
|
|
Variable(2)
|
|
$
|
60,214,802.67
|
|
|
August
25, 2036
|
|
|
I-1-A
|
|
|
Variable(2)
|
|
$
|
6,697,514.16
|
|
|
August
25, 2036
|
|
|
I-1-B
|
|
|
Variable(2)
|
|
$
|
6,697,514.16
|
|
|
August
25, 2036
|
|
|
I-2-A
|
|
|
Variable(2)
|
|
$
|
7,082,677.86
|
|
|
August
25, 2036
|
|
|
I-2-B
|
|
|
Variable(2)
|
|
$
|
7,082,677.86
|
|
|
August
25, 2036
|
|
|
I-3-A
|
|
|
Variable(2)
|
|
$
|
6,800,222.55
|
|
|
August
25, 2036
|
|
|
I-3-B
|
|
|
Variable(2)
|
|
$
|
6,800,222.55
|
|
|
August
25, 2036
|
|
|
I-4-A
|
|
|
Variable(2)
|
|
$
|
6,517,825.59
|
|
|
August
25, 2036
|
|
|
I-4-B
|
|
|
Variable(2)
|
|
$
|
6,517,825.59
|
|
|
August
25, 2036
|
|
|
I-5-A
|
|
|
Variable(2)
|
|
$
|
6,247,189.53
|
|
|
August
25, 2036
|
|
|
I-5-B
|
|
|
Variable(2)
|
|
$
|
6,247,189.53
|
|
|
August
25, 2036
|
|
|
I-6-A
|
|
|
Variable(2)
|
|
$
|
5,987,822.46
|
|
|
August
25, 2036
|
|
|
I-6-B
|
|
|
Variable(2)
|
|
$
|
5,987,822.46
|
|
|
August
25, 2036
|
|
|
I-7-A
|
|
|
Variable(2)
|
|
$
|
5,739,254.57
|
|
|
August
25, 2036
|
|
|
I-7-B
|
|
|
Variable(2)
|
|
$
|
5,739,254.57
|
|
|
August
25, 2036
|
|
|
I-8-A
|
|
|
Variable(2)
|
|
$
|
5,501,034.97
|
|
|
August
25, 2036
|
|
|
I-8-B
|
|
|
Variable(2)
|
|
$
|
5,501,034.97
|
|
|
August
25, 2036
|
|
|
I-9-A
|
|
|
Variable(2)
|
|
$
|
5,272,731.30
|
|
|
August
25, 2036
|
|
|
I-9-B
|
|
|
Variable(2)
|
|
$
|
5,272,731.30
|
|
|
August
25, 2036
|
|
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
I-10-A
|
|
|
Variable(2)
|
|
$
|
5,053,930.42
|
|
|
August
25, 2036
|
|
|
I-10-B
|
|
|
Variable(2)
|
|
$
|
5,053,930.42
|
|
|
August
25, 2036
|
|
|
I-11-A
|
|
|
Variable(2)
|
|
$
|
4,845,193.70
|
|
|
August
25, 2036
|
|
|
I-11-B
|
|
|
Variable(2)
|
|
$
|
4,845,193.70
|
|
|
August
25, 2036
|
|
|
I-12-A
|
|
|
Variable(2)
|
|
$
|
4,651,809.86
|
|
|
August
25, 2036
|
|
|
I-12-B
|
|
|
Variable(2)
|
|
$
|
4,651,809.86
|
|
|
August
25, 2036
|
|
|
I-13-A
|
|
|
Variable(2)
|
|
$
|
4,627,183.79
|
|
|
August
25, 2036
|
|
|
I-13-B
|
|
|
Variable(2)
|
|
$
|
4,627,183.79
|
|
|
August
25, 2036
|
|
|
I-14-A
|
|
|
Variable(2)
|
|
$
|
15,180,854.46
|
|
|
August
25, 2036
|
|
|
I-14-B
|
|
|
Variable(2)
|
|
$
|
15,180,854.46
|
|
|
August
25, 2036
|
|
|
I-15-A
|
|
|
Variable(2)
|
|
$
|
12,736,672.08
|
|
|
August
25, 2036
|
|
|
I-15-B
|
|
|
Variable(2)
|
|
$
|
12,736,672.08
|
|
|
August
25, 2036
|
|
|
I-16-A
|
|
|
Variable(2)
|
|
$
|
10,599,216.75
|
|
|
August
25, 2036
|
|
|
I-16-B
|
|
|
Variable(2)
|
|
$
|
10,599,216.75
|
|
|
August
25, 2036
|
|
|
I-17-A
|
|
|
Variable(2)
|
|
$
|
8,760,791.50
|
|
|
August
25, 2036
|
|
|
I-17-B
|
|
|
Variable(2)
|
|
$
|
8,760,791.50
|
|
|
August
25, 2036
|
|
|
I-18-A
|
|
|
Variable(2)
|
|
$
|
2,558,196.05
|
|
|
August
25, 2036
|
|
|
I-18-B
|
|
|
Variable(2)
|
|
$
|
2,558,196.05
|
|
|
August
25, 2036
|
|
|
I-19-A
|
|
|
Variable(2)
|
|
$
|
2,376,380.28
|
|
|
August
25, 2036
|
|
|
I-19-B
|
|
|
Variable(2)
|
|
$
|
2,376,380.28
|
|
|
August
25, 2036
|
|
|
I-20-A
|
|
|
Variable(2)
|
|
$
|
2,268,239.70
|
|
|
August
25, 2036
|
|
|
I-20-B
|
|
|
Variable(2)
|
|
$
|
2,268,239.70
|
|
|
August
25, 2036
|
|
|
I-21-A
|
|
|
Variable(2)
|
|
$
|
2,164,759.31
|
|
|
August
25, 2036
|
|
|
I-21-B
|
|
|
Variable(2)
|
|
$
|
2,164,759.31
|
|
|
August
25, 2036
|
|
|
I-22-A
|
|
|
Variable(2)
|
|
$
|
2,066,419.87
|
|
|
August
25, 2036
|
|
|
I-22-B
|
|
|
Variable(2)
|
|
$
|
2,066,419.87
|
|
|
August
25, 2036
|
|
|
I-23-A
|
|
|
Variable(2)
|
|
$
|
1,972,620.15
|
|
|
August
25, 2036
|
|
|
I-23-B
|
|
|
Variable(2)
|
|
$
|
1,972,620.15
|
|
|
August
25, 2036
|
|
|
I-24-A
|
|
|
Variable(2)
|
|
$
|
1,883,145.26
|
|
|
August
25, 2036
|
|
|
I-24-B
|
|
|
Variable(2)
|
|
$
|
1,883,145.26
|
|
|
August
25, 2036
|
|
|
I-25-A
|
|
|
Variable(2)
|
|
$
|
1,797,792.19
|
|
|
August
25, 2036
|
|
|
I-25-B
|
|
|
Variable(2)
|
|
$
|
1,797,792.19
|
|
|
August
25, 2036
|
|
|
I-26-A
|
|
|
Variable(2)
|
|
$
|
1,716,368.34
|
|
|
August
25, 2036
|
|
|
I-26-B
|
|
|
Variable(2)
|
|
$
|
1,716,368.34
|
|
|
August
25, 2036
|
|
|
I-27-A
|
|
|
Variable(2)
|
|
$
|
1,638,641.78
|
|
|
August
25, 2036
|
|
|
I-27-B
|
|
|
Variable(2)
|
|
$
|
1,638,641.78
|
|
|
August
25, 2036
|
|
|
I-28-A
|
|
|
Variable(2)
|
|
$
|
1,564,536.13
|
|
|
August
25, 2036
|
|
|
I-28-B
|
|
|
Variable(2)
|
|
$
|
1,564,536.13
|
|
|
August
25, 2036
|
|
|
I-29-A
|
|
|
Variable(2)
|
|
$
|
1,493,845.52
|
|
|
August
25, 2036
|
|
|
I-29-B
|
|
|
Variable(2)
|
|
$
|
1,493,845.52
|
|
|
August
25, 2036
|
|
|
I-30-A
|
|
|
Variable(2)
|
|
$
|
1,426,401.56
|
|
|
August
25, 2036
|
|
|
I-30-B
|
|
|
Variable(2)
|
|
$
|
1,426,401.56
|
|
|
August
25, 2036
|
|
|
I-31-A
|
|
|
Variable(2)
|
|
$
|
1,362,052.93
|
|
|
August
25, 2036
|
|
|
I-31-B
|
|
|
Variable(2)
|
|
$
|
1,362,052.93
|
|
|
August
25, 2036
|
|
|
I-32-A
|
|
|
Variable(2)
|
|
$
|
1,300,656.15
|
|
|
August
25, 2036
|
|
|
I-32-B
|
|
|
Variable(2)
|
|
$
|
1,300,656.15
|
|
|
August
25, 2036
|
|
2
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
I-33-A
|
|
|
Variable(2)
|
|
$
|
1,242,072.00
|
|
|
August
25, 2036
|
|
|
I-33-B
|
|
|
Variable(2)
|
|
$
|
1,242,072.00
|
|
|
August
25, 2036
|
|
|
I-34-A
|
|
|
Variable(2)
|
|
$
|
1,186,172.87
|
|
|
August
25, 2036
|
|
|
I-34-B
|
|
|
Variable(2)
|
|
$
|
1,186,172.87
|
|
|
August
25, 2036
|
|
|
I-35-A
|
|
|
Variable(2)
|
|
$
|
1,132,832.83
|
|
|
August
25, 2036
|
|
|
I-35-B
|
|
|
Variable(2)
|
|
$
|
1,132,832.83
|
|
|
August
25, 2036
|
|
|
I-36-A
|
|
|
Variable(2)
|
|
$
|
1,081,933.06
|
|
|
August
25, 2036
|
|
|
I-36-B
|
|
|
Variable(2)
|
|
$
|
1,081,933.06
|
|
|
August
25, 2036
|
|
|
I-37-A
|
|
|
Variable(2)
|
|
$
|
1,033,359.71
|
|
|
August
25, 2036
|
|
|
I-37-B
|
|
|
Variable(2)
|
|
$
|
1,033,359.71
|
|
|
August
25, 2036
|
|
|
I-38-A
|
|
|
Variable(2)
|
|
$
|
987,005.34
|
|
|
August
25, 2036
|
|
|
I-38-B
|
|
|
Variable(2)
|
|
$
|
987,005.34
|
|
|
August
25, 2036
|
|
|
I-39-A
|
|
|
Variable(2)
|
|
$
|
942,767.03
|
|
|
August
25, 2036
|
|
|
I-39-B
|
|
|
Variable(2)
|
|
$
|
942,767.03
|
|
|
August
25, 2036
|
|
|
I-40-A
|
|
|
Variable(2)
|
|
$
|
900,546.57
|
|
|
August
25, 2036
|
|
|
I-40-B
|
|
|
Variable(2)
|
|
$
|
900,546.57
|
|
|
August
25, 2036
|
|
|
I-41-A
|
|
|
Variable(2)
|
|
$
|
860,250.77
|
|
|
August
25, 2036
|
|
|
I-41-B
|
|
|
Variable(2)
|
|
$
|
860,250.77
|
|
|
August
25, 2036
|
|
|
I-42-A
|
|
|
Variable(2)
|
|
$
|
821,790.21
|
|
|
August
25, 2036
|
|
|
I-42-B
|
|
|
Variable(2)
|
|
$
|
821,790.21
|
|
|
August
25, 2036
|
|
|
I-43-A
|
|
|
Variable(2)
|
|
$
|
785,080.45
|
|
|
August
25, 2036
|
|
|
I-43-B
|
|
|
Variable(2)
|
|
$
|
785,080.45
|
|
|
August
25, 2036
|
|
|
I-44-A
|
|
|
Variable(2)
|
|
$
|
750,040.15
|
|
|
August
25, 2036
|
|
|
I-44-B
|
|
|
Variable(2)
|
|
$
|
750,040.15
|
|
|
August
25, 2036
|
|
|
I-45-A
|
|
|
Variable(2)
|
|
$
|
716,592.93
|
|
|
August
25, 2036
|
|
|
I-45-B
|
|
|
Variable(2)
|
|
$
|
716,592.93
|
|
|
August
25, 2036
|
|
|
I-46-A
|
|
|
Variable(2)
|
|
$
|
684,664.10
|
|
|
August
25, 2036
|
|
|
I-46-B
|
|
|
Variable(2)
|
|
$
|
684,664.10
|
|
|
August
25, 2036
|
|
|
I-47-A
|
|
|
Variable(2)
|
|
$
|
654,184.85
|
|
|
August
25, 2036
|
|
|
I-47-B
|
|
|
Variable(2)
|
|
$
|
654,184.85
|
|
|
August
25, 2036
|
|
|
I-48-A
|
|
|
Variable(2)
|
|
$
|
625,087.14
|
|
|
August
25, 2036
|
|
|
I-48-B
|
|
|
Variable(2)
|
|
$
|
625,087.14
|
|
|
August
25, 2036
|
|
|
I-49-A
|
|
|
Variable(2)
|
|
$
|
597,308.10
|
|
|
August
25, 2036
|
|
|
I-49-B
|
|
|
Variable(2)
|
|
$
|
597,308.10
|
|
|
August
25, 2036
|
|
|
I-50-A
|
|
|
Variable(2)
|
|
$
|
570,794.38
|
|
|
August
25, 2036
|
|
|
I-50-B
|
|
|
Variable(2)
|
|
$
|
570,794.38
|
|
|
August
25, 2036
|
|
|
I-51-A
|
|
|
Variable(2)
|
|
$
|
546,193.45
|
|
|
August
25, 2036
|
|
|
I-51-B
|
|
|
Variable(2)
|
|
$
|
546,193.45
|
|
|
August
25, 2036
|
|
|
I-52-A
|
|
|
Variable(2)
|
|
$
|
521,963.46
|
|
|
August
25, 2036
|
|
|
I-52-B
|
|
|
Variable(2)
|
|
$
|
521,963.46
|
|
|
August
25, 2036
|
|
|
I-53-A
|
|
|
Variable(2)
|
|
$
|
498,818.06
|
|
|
August
25, 2036
|
|
|
I-53-B
|
|
|
Variable(2)
|
|
$
|
498,818.06
|
|
|
August
25, 2036
|
|
|
I-54-A
|
|
|
Variable(2)
|
|
$
|
10,996,104.34
|
|
|
August
25, 2036
|
|
|
I-54-B
|
|
|
Variable(2)
|
|
$
|
10,996,104.34
|
|
|
August
25, 2036
|
|
|
II
|
|
|
Variable(2)
|
|
$
|
66,728,386.86
|
|
|
August
25, 2036
|
|
|
II-1-A
|
|
|
Variable(2)
|
|
$
|
7,422,000.84
|
|
|
August
25, 2036
|
|
3
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
II-1-B
|
|
|
Variable(2)
|
|
$
|
7,422,000.84
|
|
|
August
25, 2036
|
|
|
II-2-A
|
|
|
Variable(2)
|
|
$
|
7,848,828.64
|
|
|
August
25, 2036
|
|
|
II-2-B
|
|
|
Variable(2)
|
|
$
|
7,848,828.64
|
|
|
August
25, 2036
|
|
|
II-3-A
|
|
|
Variable(2)
|
|
$
|
7,535,819.45
|
|
|
August
25, 2036
|
|
|
II-3-B
|
|
|
Variable(2)
|
|
$
|
7,535,819.45
|
|
|
August
25, 2036
|
|
|
II-4-A
|
|
|
Variable(2)
|
|
$
|
7,222,874.91
|
|
|
August
25, 2036
|
|
|
II-4-B
|
|
|
Variable(2)
|
|
$
|
7,222,874.91
|
|
|
August
25, 2036
|
|
|
II-5-A
|
|
|
Variable(2)
|
|
$
|
6,922,963.47
|
|
|
August
25, 2036
|
|
|
II-5-B
|
|
|
Variable(2)
|
|
$
|
6,922,963.47
|
|
|
August
25, 2036
|
|
|
II-6-A
|
|
|
Variable(2)
|
|
$
|
6,635,540.04
|
|
|
August
25, 2036
|
|
|
II-6-B
|
|
|
Variable(2)
|
|
$
|
6,635,540.04
|
|
|
August
25, 2036
|
|
|
II-7-A
|
|
|
Variable(2)
|
|
$
|
6,360,083.93
|
|
|
August
25, 2036
|
|
|
II-7-B
|
|
|
Variable(2)
|
|
$
|
6,360,083.93
|
|
|
August
25, 2036
|
|
|
II-8-A
|
|
|
Variable(2)
|
|
$
|
6,096,095.53
|
|
|
August
25, 2036
|
|
|
II-8-B
|
|
|
Variable(2)
|
|
$
|
6,096,095.53
|
|
|
August
25, 2036
|
|
|
II-9-A
|
|
|
Variable(2)
|
|
$
|
5,843,095.70
|
|
|
August
25, 2036
|
|
|
II-9-B
|
|
|
Variable(2)
|
|
$
|
5,843,095.70
|
|
|
August
25, 2036
|
|
|
II-10-A
|
|
|
Variable(2)
|
|
$
|
5,600,626.58
|
|
|
August
25, 2036
|
|
|
II-10-B
|
|
|
Variable(2)
|
|
$
|
5,600,626.58
|
|
|
August
25, 2036
|
|
|
II-11-A
|
|
|
Variable(2)
|
|
$
|
5,369,310.30
|
|
|
August
25, 2036
|
|
|
II-11-B
|
|
|
Variable(2)
|
|
$
|
5,369,310.30
|
|
|
August
25, 2036
|
|
|
II-12-A
|
|
|
Variable(2)
|
|
$
|
5,155,007.64
|
|
|
August
25, 2036
|
|
|
II-12-B
|
|
|
Variable(2)
|
|
$
|
5,155,007.64
|
|
|
August
25, 2036
|
|
|
II-13-A
|
|
|
Variable(2)
|
|
$
|
5,127,717.71
|
|
|
August
25, 2036
|
|
|
II-13-B
|
|
|
Variable(2)
|
|
$
|
5,127,717.71
|
|
|
August
25, 2036
|
|
|
II-14-A
|
|
|
Variable(2)
|
|
$
|
16,823,005.04
|
|
|
August
25, 2036
|
|
|
II-14-B
|
|
|
Variable(2)
|
|
$
|
16,823,005.04
|
|
|
August
25, 2036
|
|
|
II-15-A
|
|
|
Variable(2)
|
|
$
|
14,114,429.42
|
|
|
August
25, 2036
|
|
|
II-15-B
|
|
|
Variable(2)
|
|
$
|
14,114,429.42
|
|
|
August
25, 2036
|
|
|
II-16-A
|
|
|
Variable(2)
|
|
$
|
11,745,760.25
|
|
|
August
25, 2036
|
|
|
II-16-B
|
|
|
Variable(2)
|
|
$
|
11,745,760.25
|
|
|
August
25, 2036
|
|
|
II-17-A
|
|
|
Variable(2)
|
|
$
|
9,708,468.00
|
|
|
August
25, 2036
|
|
|
II-17-B
|
|
|
Variable(2)
|
|
$
|
9,708,468.00
|
|
|
August
25, 2036
|
|
|
II-18-A
|
|
|
Variable(2)
|
|
$
|
2,834,922.45
|
|
|
August
25, 2036
|
|
|
II-18-B
|
|
|
Variable(2)
|
|
$
|
2,834,922.45
|
|
|
August
25, 2036
|
|
|
II-19-A
|
|
|
Variable(2)
|
|
$
|
2,633,439.22
|
|
|
August
25, 2036
|
|
|
II-19-B
|
|
|
Variable(2)
|
|
$
|
2,633,439.22
|
|
|
August
25, 2036
|
|
|
II-20-A
|
|
|
Variable(2)
|
|
$
|
2,513,600.80
|
|
|
August
25, 2036
|
|
|
II-20-B
|
|
|
Variable(2)
|
|
$
|
2,513,600.80
|
|
|
August
25, 2036
|
|
|
II-21-A
|
|
|
Variable(2)
|
|
$
|
2,398,926.69
|
|
|
August
25, 2036
|
|
|
II-21-B
|
|
|
Variable(2)
|
|
$
|
2,398,926.69
|
|
|
August
25, 2036
|
|
|
II-22-A
|
|
|
Variable(2)
|
|
$
|
2,289,949.63
|
|
|
August
25, 2036
|
|
|
II-22-B
|
|
|
Variable(2)
|
|
$
|
2,289,949.63
|
|
|
August
25, 2036
|
|
|
II-23-A
|
|
|
Variable(2)
|
|
$
|
2,186,003.35
|
|
|
August
25, 2036
|
|
|
II-23-B
|
|
|
Variable(2)
|
|
$
|
2,186,003.35
|
|
|
August
25, 2036
|
|
|
II-24-A
|
|
|
Variable(2)
|
|
$
|
2,086,849.74
|
|
|
August
25, 2036
|
|
4
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
II-24-B
|
|
|
Variable(2)
|
|
$
|
2,086,849.74
|
|
|
August
25, 2036
|
|
|
II-25-A
|
|
|
Variable(2)
|
|
$
|
1,992,263.81
|
|
|
August
25, 2036
|
|
|
II-25-B
|
|
|
Variable(2)
|
|
$
|
1,992,263.81
|
|
|
August
25, 2036
|
|
|
II-26-A
|
|
|
Variable(2)
|
|
$
|
1,902,032.16
|
|
|
August
25, 2036
|
|
|
II-26-B
|
|
|
Variable(2)
|
|
$
|
1,902,032.16
|
|
|
August
25, 2036
|
|
|
II-27-A
|
|
|
Variable(2)
|
|
$
|
1,815,897.72
|
|
|
August
25, 2036
|
|
|
II-27-B
|
|
|
Variable(2)
|
|
$
|
1,815,897.72
|
|
|
August
25, 2036
|
|
|
II-28-A
|
|
|
Variable(2)
|
|
$
|
1,733,775.87
|
|
|
August
25, 2036
|
|
|
II-28-B
|
|
|
Variable(2)
|
|
$
|
1,733,775.87
|
|
|
August
25, 2036
|
|
|
II-29-A
|
|
|
Variable(2)
|
|
$
|
1,655,438.48
|
|
|
August
25, 2036
|
|
|
II-29-B
|
|
|
Variable(2)
|
|
$
|
1,655,438.48
|
|
|
August
25, 2036
|
|
|
II-30-A
|
|
|
Variable(2)
|
|
$
|
1,580,698.94
|
|
|
August
25, 2036
|
|
|
II-30-B
|
|
|
Variable(2)
|
|
$
|
1,580,698.94
|
|
|
August
25, 2036
|
|
|
II-31-A
|
|
|
Variable(2)
|
|
$
|
1,509,389.57
|
|
|
August
25, 2036
|
|
|
II-31-B
|
|
|
Variable(2)
|
|
$
|
1,509,389.57
|
|
|
August
25, 2036
|
|
|
II-32-A
|
|
|
Variable(2)
|
|
$
|
1,441,351.35
|
|
|
August
25, 2036
|
|
|
II-32-B
|
|
|
Variable(2)
|
|
$
|
1,441,351.35
|
|
|
August
25, 2036
|
|
|
II-33-A
|
|
|
Variable(2)
|
|
$
|
1,376,430.00
|
|
|
August
25, 2036
|
|
|
II-33-B
|
|
|
Variable(2)
|
|
$
|
1,376,430.00
|
|
|
August
25, 2036
|
|
|
II-34-A
|
|
|
Variable(2)
|
|
$
|
1,314,484.13
|
|
|
August
25, 2036
|
|
|
II-34-B
|
|
|
Variable(2)
|
|
$
|
1,314,484.13
|
|
|
August
25, 2036
|
|
|
II-35-A
|
|
|
Variable(2)
|
|
$
|
1,255,374.17
|
|
|
August
25, 2036
|
|
|
II-35-B
|
|
|
Variable(2)
|
|
$
|
1,255,374.17
|
|
|
August
25, 2036
|
|
|
II-36-A
|
|
|
Variable(2)
|
|
$
|
1,198,968.44
|
|
|
August
25, 2036
|
|
|
II-36-B
|
|
|
Variable(2)
|
|
$
|
1,198,968.44
|
|
|
August
25, 2036
|
|
|
II-37-A
|
|
|
Variable(2)
|
|
$
|
1,145,140.79
|
|
|
August
25, 2036
|
|
|
II-37-B
|
|
|
Variable(2)
|
|
$
|
1,145,140.79
|
|
|
August
25, 2036
|
|
|
II-38-A
|
|
|
Variable(2)
|
|
$
|
1,093,772.16
|
|
|
August
25, 2036
|
|
|
II-38-B
|
|
|
Variable(2)
|
|
$
|
1,093,772.16
|
|
|
August
25, 2036
|
|
|
II-39-A
|
|
|
Variable(2)
|
|
$
|
1,044,748.47
|
|
|
August
25, 2036
|
|
|
II-39-B
|
|
|
Variable(2)
|
|
$
|
1,044,748.47
|
|
|
August
25, 2036
|
|
|
II-40-A
|
|
|
Variable(2)
|
|
$
|
997,960.93
|
|
|
August
25, 2036
|
|
|
II-40-B
|
|
|
Variable(2)
|
|
$
|
997,960.93
|
|
|
August
25, 2036
|
|
|
II-41-A
|
|
|
Variable(2)
|
|
$
|
953,306.23
|
|
|
August
25, 2036
|
|
|
II-41-B
|
|
|
Variable(2)
|
|
$
|
953,306.23
|
|
|
August
25, 2036
|
|
|
II-42-A
|
|
|
Variable(2)
|
|
$
|
910,685.29
|
|
|
August
25, 2036
|
|
|
II-42-B
|
|
|
Variable(2)
|
|
$
|
910,685.29
|
|
|
August
25, 2036
|
|
|
II-43-A
|
|
|
Variable(2)
|
|
$
|
870,004.55
|
|
|
August
25, 2036
|
|
|
II-43-B
|
|
|
Variable(2)
|
|
$
|
870,004.55
|
|
|
August
25, 2036
|
|
|
II-44-A
|
|
|
Variable(2)
|
|
$
|
831,173.85
|
|
|
August
25, 2036
|
|
|
II-44-B
|
|
|
Variable(2)
|
|
$
|
831,173.85
|
|
|
August
25, 2036
|
|
|
II-45-A
|
|
|
Variable(2)
|
|
$
|
794,108.57
|
|
|
August
25, 2036
|
|
|
II-45-B
|
|
|
Variable(2)
|
|
$
|
794,108.57
|
|
|
August
25, 2036
|
|
|
II-46-A
|
|
|
Variable(2)
|
|
$
|
758,725.90
|
|
|
August
25, 2036
|
|
|
II-46-B
|
|
|
Variable(2)
|
|
$
|
758,725.90
|
|
|
August
25, 2036
|
|
|
II-47-A
|
|
|
Variable(2)
|
|
$
|
724,949.65
|
|
|
August
25, 2036
|
|
5
|
Designation
|
REMIC
I
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date(1)
|
|||||||
|
II-47-B
|
|
|
Variable(2)
|
|
$
|
724,949.65
|
|
|
August
25, 2036
|
|
|
II-48-A
|
|
|
Variable(2)
|
|
$
|
692,704.36
|
|
|
August
25, 2036
|
|
|
II-48-B
|
|
|
Variable(2)
|
|
$
|
692,704.36
|
|
|
August
25, 2036
|
|
|
II-49-A
|
|
|
Variable(2)
|
|
$
|
661,920.40
|
|
|
August
25, 2036
|
|
|
II-49-B
|
|
|
Variable(2)
|
|
$
|
661,920.40
|
|
|
August
25, 2036
|
|
|
II-50-A
|
|
|
Variable(2)
|
|
$
|
632,538.62
|
|
|
August
25, 2036
|
|
|
II-50-B
|
|
|
Variable(2)
|
|
$
|
632,538.62
|
|
|
August
25, 2036
|
|
|
II-51-A
|
|
|
Variable(2)
|
|
$
|
605,276.55
|
|
|
August
25, 2036
|
|
|
II-51-B
|
|
|
Variable(2)
|
|
$
|
605,276.55
|
|
|
August
25, 2036
|
|
|
II-52-A
|
|
|
Variable(2)
|
|
$
|
578,425.54
|
|
|
August
25, 2036
|
|
|
II-52-B
|
|
|
Variable(2)
|
|
$
|
578,425.54
|
|
|
August
25, 2036
|
|
|
II-53-A
|
|
|
Variable(2)
|
|
$
|
552,776.44
|
|
|
August
25, 2036
|
|
|
II-53-B
|
|
|
Variable(2)
|
|
$
|
552,776.44
|
|
|
August
25, 2036
|
|
|
II-54-A
|
|
|
Variable(2)
|
|
$
|
12,185,580.16
|
|
|
August
25, 2036
|
|
|
II-54-B
|
|
|
Variable(2)
|
|
$
|
12,185,580.16
|
|
|
August
25, 2036
|
|
__________________
(1) For
purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the
Distribution Date immediately following the maturity date for the Mortgage
Loan
with the latest maturity date has been designated as the “latest possible
maturity date” for each REMIC I Regular Interest.
(2) Calculated
in accordance with the definition of “REMIC I Remittance Rate”
herein.
6
REMIC
II
As
provided herein, the Securities Administrator will elect to treat the segregated
pool of assets consisting of the REMIC I Regular Interests as a REMIC for
federal income tax purposes, and such segregated pool of assets will be
designated as “REMIC II.” The Class R-II Interest will evidence the sole class
of “residual interests” in REMIC II for purposes of the REMIC Provisions. The
following table irrevocably sets forth the designation, the REMIC II Remittance
Rate, the initial aggregate Uncertificated Balance and, for purposes of
satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest
possible maturity date” for each of the REMIC II Regular Interests. None of the
REMIC II Regular Interests will be certificated.
|
Designation
|
REMIC
II
Remittance
Rate
|
Initial
Uncertificated
Balance
|
Latest
Possible
Maturity
Date (1)
|
|||||||
|
AA
|
|
|
Variable(2)
|
|
$
|
430,008,623.57
|
|
|
August
25, 2036
|
|
|
A-1
|
|
|
Variable(2)
|
|
$
|
1,656,755.00
|
|
|
August
25, 2036
|
|
|
A-2A
|
|
|
Variable(2)
|
|
$
|
993,940.00
|
|
|
August
25, 2036
|
|
|
A-2B
|
|
|
Variable(2)
|
|
$
|
321,070.00
|
|
|
August
25, 2036
|
|
|
A-2C
|
|
|
Variable(2)
|
|
$
|
243,860.00
|
|
|
August
25, 2036
|
|
|
A-2D
|
|
|
Variable(2)
|
|
$
|
277,100.00
|
|
|
August
25, 2036
|
|
|
M-1
|
|
|
Variable(2)
|
|
$
|
201,840.00
|
|
|
August
25, 2036
|
|
|
M-2
|
|
|
Variable(2)
|
|
$
|
160,155.00
|
|
|
August
25, 2036
|
|
|
M-3
|
|
|
Variable(2)
|
|
$
|
81,175.00
|
|
|
August
25, 2036
|
|
|
M-4
|
|
|
Variable(2)
|
|
$
|
68,010.00
|
|
|
August
25, 2036
|
|
|
M-5
|
|
|
Variable(2)
|
|
$
|
65,820.00
|
|
|
August
25, 2036
|
|
|
M-6
|
|
|
Variable(2)
|
|
$
|
43,880.00
|
|
|
August
25, 2036
|
|
|
M-7
|
|
|
Variable(2)
|
|
$
|
48,265.00
|
|
|
August
25, 2036
|
|
|
M-8
|
|
|
Variable(2)
|
|
$
|
32,910.00
|
|
|
August
25, 2036
|
|
|
M-9
|
|
|
Variable(2)
|
|
$
|
57,040.00
|
|
|
August
25, 2036
|
|
|
M-10
|
|
|
Variable(2)
|
|
$
|
59,235.00
|
|
|
August
25, 2036
|
|
|
ZZ
|
|
|
Variable(2)
|
|
$
|
4,464,631.20
|
|
|
August
25, 2036
|
|
|
P
|
|
|
Variable(2)(4)
|
|
$
|
100.00
|
|
|
August
25, 2036
|
|
|
IO
|
|
|
Variable(2)
|
|
|
(3)
|
|
|
August
25, 2036
|
|
|
I-SUB
|
|
|
Variable(2)
|
|
$
|
8,491.88
|
|
|
August
25, 2036
|
|
|
I-GRP
|
|
|
Variable(2)
|
|
$
|
41,626.99
|
|
|
August
25, 2036
|
|
|
II-SUB
|
|
|
Variable(2)
|
|
$
|
9,410.48
|
|
|
August
25, 2036
|
|
|
II-GRP
|
|
|
Variable(2)
|
|
$
|
46,129.88
|
|
|
August
25, 2036
|
|
|
XX
|
|
|
Variable(2)
|
|
$
|
438,678,650.53
|
|
|
August
25, 2036
|
|
___________________________
|
(1)
|
For
purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
the Distribution Date immediately following the maturity date for
the
Mortgage Loan with the latest maturity date has been designated as
the
“latest possible maturity date” for each REMIC II Regular
Interest.
|
|
(2)
|
Calculated
in accordance with the definition of “REMIC II Remittance Rate”
herein.
|
|
(3)
|
REMIC
II Regular Interest IO will not have an Uncertificated Balance, but
will
accrue interest on its Uncertificated Notional
Amount.
|
(4) REMIC
II
Regular
Interest P will be entitled to 100% of the Prepayment Charges.
7
REMIC
III
As
provided herein, the Securities Administrator will elect to treat the segregated
pool of assets consisting of the REMIC II Regular Interests as a REMIC for
federal income tax purposes, and such segregated pool of assets will be
designated as “REMIC III.” The Class R-III Interest will evidence the sole class
of “residual interests” in REMIC III for purposes of the REMIC Provisions. The
following table irrevocably sets forth the designation, the Pass-Through Rate,
the initial aggregate Certificate Principal Balance and, for purposes of
satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest
possible maturity date” for the indicated Classes of Certificates.
|
Designation
|
Pass-Through
Rate
|
Initial
Aggregate Certificate Principal Balance
|
Latest
Possible
Maturity
Date (1)
|
|||||||
|
Class
A-1
|
|
|
Variable(2)
|
|
$
|
331,351,000.00
|
|
|
August
25, 2036
|
|
|
Class
A-2A
|
|
|
Variable(2)
|
|
$
|
198,788,000.00
|
|
|
August
25, 2036
|
|
|
Class
A-2B
|
|
|
Variable(2)
|
|
$
|
64,214,000.00
|
|
|
August
25, 2036
|
|
|
Class
A-2C
|
|
|
Variable(2)
|
|
$
|
48,772,000.00
|
|
|
August
25, 2036
|
|
|
Class
A-2D
|
|
|
Variable(2)
|
|
$
|
55,420,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-1
|
|
|
Variable(2)
|
|
$
|
40,368,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-2
|
|
|
Variable(2)
|
|
$
|
32,031,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-3
|
|
|
Variable(2)
|
|
$
|
16,235,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-4
|
|
|
Variable(2)
|
|
$
|
13,602,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-5
|
|
|
Variable(2)
|
|
$
|
13,164,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-6
|
|
|
Variable(2)
|
|
$
|
8,776,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-7
|
|
|
Variable(2)
|
|
$
|
9,653,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-8
|
|
|
Variable(2)
|
|
$
|
6,582,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-9
|
|
|
Variable(2)
|
|
$
|
11,408,000.00
|
|
|
August
25, 2036
|
|
|
Class
M-10
|
|
|
Variable(2)
|
|
$
|
11,847,000.00
|
|
|
August
25, 2036
|
|
|
Class
P
|
|
|
N/A(3)
|
|
$
|
100.00
|
|
|
August
25, 2036
|
|
|
Class
CE
|
|
|
N/A(4)
|
|
$
|
15,357,619.53
|
|
|
August
25, 2036
|
|
|
Class
IO Interest
|
|
|
N/A(5)
|
|
|
(5)
|
|
|
August
25, 2036
|
|
_________________
|
(1)
|
For
purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations,
the Distribution Date immediately following the maturity date for
the
Mortgage Loan with the latest maturity date has been designated as
the
“latest possible maturity date” for each Class of
Certificates.
|
|
(2)
|
Calculated
in accordance with the definition of “Pass-Through Rate”
herein.
|
|
(3)
|
The
Class P Certificates will not accrue interest. The Class P Certificates
will entitled to 100% of Prepayment
Charges.
|
|
(4)
|
The
Class CE Certificates will accrue interest at their variable Pass-Through
Rate on the Notional Amount of the Class CE Certificates outstanding
from
time to time which shall equal the Uncertificated Balance of the
REMIC II
Regular Interests (other than REMIC II Regular Interest P). The Class
CE
Certificates will not accrue interest on their Certificate Principal
Balance.
|
|
(5)
|
The
Class IO Interest will not have a Pass-Through Rate or a Certificate
Principal Balance, but will be entitled to 100% of amounts distributed
on
REMIC II Regular Interest IO.
|
The
Mortgage Loans had an aggregate Scheduled Principal Balance as of the Cut-off
Date, after deducting all Monthly Payments due on or before the Cut-off Date,
of
$877,568,719.53. As of the Cut-off Date, the Group I Mortgage Loans had an
aggregate Scheduled Principal Balance equal to $416,269,887.92 and the Group
II
Mortgage Loans had an aggregate Scheduled Principal Balance equal to
$461,298,831.61.
In
consideration of the mutual agreements herein contained, the Depositor, the
Servicer, the Master Servicer, the Securities Administrator and the Trustee
agree as follows:
8
ARTICLE
I
DEFINITIONS
SECTION
1.01. Defined
Terms.
Whenever
used in this Agreement, including, without limitation, in the Preliminary
Statement hereto, the following words and phrases, unless the context otherwise
requires, shall have the meanings specified in this Article. Unless otherwise
specified, all calculations described herein shall be made on the basis of
a
360-day year consisting of twelve 30-day months.
“Accepted
Master Servicing Practices”: With respect to any Mortgage Loan, as applicable,
either (x) those customary mortgage master servicing practices of prudent
mortgage servicing institutions that master service mortgage loans of the same
type and quality as such Mortgage Loan in the jurisdiction where the related
Mortgaged Property is located, to the extent applicable to the Master Servicer
or (y) as provided in Section 3.01 hereof, but in no event below the
standard set forth in clause (x) above.
“Accepted
Servicing Practices”: As defined in Section 3.01.
“Account”:
The Collection Account and the Distribution Account, as the context may
require.
“Accrued
Certificate Interest”: With respect to any Class A Certificate, Mezzanine
Certificate or Class CE Certificate and each Distribution Date, interest accrued
during the related Interest Accrual Period at the Pass-Through Rate for such
Certificate for such Distribution Date on the Certificate Principal Balance,
in
the case of the Class A Certificates and the Mezzanine Certificates, or on
the
Notional Amount in the case of the Class CE Certificates of such Certificate
immediately prior to such Distribution Date. The Class P Certificates are not
entitled to distributions in respect of interest and, accordingly, will not
accrue interest. All distributions of interest on the Class A Certificates
and
the Mezzanine Certificates will be calculated on the basis of a 360-day year
and
the actual number of days in the applicable Interest Accrual Period. All
distributions of interest on the Class CE Certificates will be based on a
360-day year consisting of twelve 30-day months. Accrued Certificate Interest
with respect to each Distribution Date, as to any Class A Certificate, Mezzanine
Certificate or Class CE Certificate shall be reduced by an amount equal to
the
portion allocable to such Certificate pursuant to Section 1.02 hereof, if
any, of the sum of (a) the aggregate Prepayment Interest Shortfall, if any,
for
such Distribution Date to the extent not covered by payments pursuant to
Section 3.22 or Section 4.19 of this Agreement and (b) the aggregate
amount of any Relief Act Interest Shortfall, if any, for such Distribution
Date.
In addition, Accrued Certificate Interest with respect to each Distribution
Date, as to any Class CE Certificate, shall be reduced by an amount equal to
the
portion allocable to such Class CE Certificate of Realized Losses, if any,
pursuant to Section 1.02 and Section 5.04 hereof.
“Additional
Disclosure Notification”: Has the meaning set forth in Section 5.06(a)(ii).
9