EX-10 2 qs1ssfinal.htm EX 10.1
                                                                                EXECUTION COPY


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                              RESIDENTIAL ACCREDIT LOANS, INC.,

                                           Company,

                               RESIDENTIAL FUNDING CORPORATION,

                                       Master Servicer,

                                             and

                            DEUTSCHE BANK TRUST COMPANY AMERICAS,

                                           Trustee

                                      SERIES SUPPLEMENT,

                                 DATED AS OF JANUARY 1, 2006,

                                              TO

                                      STANDARD TERMS OF
                               POOLING AND SERVICING AGREEMENT
                                 dated as of January 1, 2006

                       Mortgage Asset-Backed Pass-Through Certificates

                                       Series 2006-QS1


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Article I DEFINITIONS....................................................................1 Section 1.01. Definitions. ........................................................1 Section 1.02. Use of Words and Phrases............................................16 Section 1.03. Determination of LIBOR..............................................16 Article II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES...............18 Section 2.01. Conveyance of Mortgage Loans........................................18 Section 2.02. Acceptance by Trustee. ............................................19 Section 2.03. Representations, Warranties and Covenants of the Master Servicer and the Company.........................................................19 Section 2.04. Representations and Warranties of Sellers. (See Section 2.04 of the Standard Terms).....................................................22 Section 2.05. Execution and Authentication of Certificates/Issuance of Certificates Evidencing Interests in REMIC I Certificates........................22 Section 2.06. Conveyance of Uncertificated REMIC I and REMIC II Regular Interests; Acceptance by the Trustee...........................................22 Section 2.07. Issuance of Certificates Evidencing Interest in REMIC II............22 Section 2.08. Purposes and Powers of the Trust. (See Section 2.08 of the Standard Terms)..............................................................22 Article III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS................................23 Article IV PAYMENTS TO CERTIFICATEHOLDERS................................................24 Section 4.01. Certificate Account. ...............................................24 Section 4.02. Distributions.......................................................24 Section 4.03. Statements to Certificateholders; Statements to the Rating Agencies; Exchange Act Reporting. (See Section 4.03 of the Standard Terms)....32 Section 4.04. Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer. (See Section 4.04 of the Standard Terms).......32 Section 4.05. Allocation of Realized Losses.......................................32 Section 4.06. Reports of Foreclosures and Abandonment of Mortgaged Property.......33 Section 4.07. Optional Purchase of Defaulted Mortgage Loans.......................33 Section 4.08. Surety Bond.........................................................34 Section 4.09. Reserve Fund........................................................34 Article V THE CERTIFICATES..............................................................35 Section 5.01. The Certificates....................................................35 Section 5.02. Registration of Transfer and Exchange of Certificates...............37 Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates...................37 Section 5.04. Persons Deemed Owners...............................................37 Section 5.05. Appointment of Paying Agent.........................................37 Section 5.06. U.S.A. Patriot Act Compliance.......................................37 Article VI THE COMPANY AND THE MASTER SERVICER...........................................38 Article VII DEFAULT.......................................................................39 Article VIII CONCERNING THE TRUSTEE........................................................40 Section 8.01. Duties of the Trustee...............................................40 Section 8.02. Certain Matters Affecting the Trustee...............................40 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans...............40 Section 8.04. Trustee May Own Certificates........................................40 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification.40 Section 8.06. Eligibility Requirements for Trustee................................40 Section 8.07 Resignation and Removal of the Trustee..............................40 Section 8.08 Successor Trustee...................................................40 Section 8.09 Merger or Consolidation of Trustee..................................40 Section 8.10 Appointment of Co-Trustee or Separate Trustee.......................40 Section 8.11 Appointment of Custodians...........................................40 Section 8.12 Appointment of Office or Agency.....................................40 Article IX TERMINATION...................................................................41 Article X REMIC PROVISIONS..............................................................42 Section 10.01.REMIC Administration. (See Section 10.01 of the Standard Terms)....42 Section 10.02.Master Servicer; REMIC Administrator and Trustee Indemnification. ...................................................42 Section 10.03.Designation of REMICs...............................................42 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests...........................................................42 Section 10.05.Compliance with Withholding Requirements............................44 Article XI MISCELLANEOUS PROVISIONS......................................................45 Section 11.01.Amendment. (See Section 11.01 of the Standard Terms)...............45 Section 11.02.Recordation of Agreement; Counterparts.............................45 Section 11.03.Limitation on Rights of Certificateholders..........................45 Section 11.04.Governing Law.......................................................45 Section 11.05.Notices.............................................................45 Section 11.06.Required Notices to Rating Agency and Subservicer...................46 Section 11.07.Severability of Provisions..........................................46 Section 11.08.Supplemental Provisions for Resecuritization........................46 Section 11.09.Allocation of Voting Rights.........................................46 Section 11.10.No Petition.........................................................46
EXHIBITS Exhibit One: Mortgage Loan Schedule Exhibit Two: Schedule of Discount Fractions Exhibit Three: Information to be Included in Monthly Distribution Date Statement Exhibit Four: Standard Terms of Pooling and Servicing Agreement Dated as of January 1, 2006 Exhibit Five: Aggregate Planned Principal Balances
This is a Series Supplement, dated as of January 1, 2006 (the "Series Supplement"), to the Standard Terms of Pooling and Servicing Agreement, dated as of January 1, 2006 and attached as Exhibit Four hereto (the "Standard Terms" and, together with this Series Supplement, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING CORPORATION, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee (together with its permitted successors and assigns, the "Trustee"). PRELIMINARY STATEMENT: The Company intends to sell mortgage asset-backed pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Mortgage Loans (as defined herein). As provided herein, the REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans), as two real estate mortgage investment conduits (each, a "REMIC") for federal income tax purposes. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement.
The following table sets forth the designation, type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and certain features for each Class of Certificates comprising the interests in the Trust Fund created hereunder. AGGREGATE INITIAL 2) CERTIFICATE PASS-THROUGH PRINCIPAL MATURITY FITCH/MOODY'S/ MINIMUM DESIGNATION RATE BALANCE FEATURES(1) DATE S&P DENOMINATIONS( Class A-1 5.75% $1,200,000.00 Senior/Retail/Fixed January AAA/Aaa/AAA $1,000.00 Rate 25, 2036 Senior/Senior Class A-2 Support/PAC/Fixed January 5.75% $6,775,000.00 Rate 25, 2036 AAA/Aaa/AAA $25,000.00 0 Senior/Super Class A-3 Senior/PAC/Fixed January 5.75% $108,134,000.0 Rate 25, 2036 AAA/Aaa/AAA $25,000.00 Class A-4 5.75% $17,636,000.00 Senior/PAC/Fixed January AAA/Aaa/AAA $25,000.00 Rate 25, 2036 Class A-5 Adjustable $86,970,608.00 Senior/Companion/FloaterJanuary AAA/Aaa/AAA $25,000.00 Rate(3) Adjustable Rate 25, 2036 Senior/Companion/Inver Class A-6 Adjustable $11,343,992.00 Floater/Adjustable seJanuary AAA/Aaa/AAA $25,000.00 Rate(3) Rate 25, 2036 Class A-7 5.75% $25,784,400.00 Senior/Lockout/Fixed January AAA/Aaa/AAA $25,000.00 Rate 25, 2036 Class A-8 Adjustable $42,974,000.00 Senior/Floater/AdjustablJanuary AAA/Aaa/AAA $25,000.00 Rate(3) Rate 25, 2036 4) Senior/Interest Adjustable Only/Inverse January Class A-9 Rate(3) $0.00( Floater/Adjustable 25, 2036 AAA/Aaa/AAA $2,000,000.00 Rate Class A-P 0.00% $2,784,564.75 Senior/Principal January AAA/Aaa/AAA $25,000.00 Only 25, 2036 Class A-V Variable $0.00(6) Senior/Interest January AAA/Aaa/AAA $2,000,000.00 Rate(5) Only/Variable Rate 25, 2036 Class R-I 6.00% $100.00 Senior/Residual/Fixed January AAA/Aaa/AAA (7) Rate 25, 2036 Class R-II 6.00% $100.00 Senior/Residual/Fixed January AAA/Aaa/AAA (7) Rate 25, 2036 Class M-1 6.00% $10,525,500.00 Mezzanine/Fixed Rate January AA/NA/NA $25,000.00 25, 2036 Class M-2 6.00% $3,238,400.00 Mezzanine/Fixed Rate January A/NA/NA $250,000.00 25, 2036 Class M-3 6.00% $2,428,800.00 Mezzanine/Fixed Rate January BBB/NA/NA 25, 2036 $250,000.00 Class B-1 6.00% $1,619,200.00 Subordinate/Fixed January BB/NA/NA Rate 25, 2036 $250,000.00 Class B-2 6.00% $1,295,400.00 Subordinate/Fixed January B/NA/NA Rate 25, 2036 $250,000.00 Class B-3 6.00% $1,133,518.88 Subordinate/Fixed January NA/NA/NA Rate 25, 2036 $250,000.00 (1) The Certificates, other than the Class B and Class R Certificates shall be Book-Entry Certificates. The Class B Certificates and the Class R Certificates shall be delivered to the holders thereof in physical form. (2) The Certificates, other than the Class R Certificates, shall be issuable in minimum dollar denominations as indicated above (by Certificate Principal Balance or Notional Amount, as applicable) and integral multiples of $1 (or $1,000 in the case of the Class B-1, Class B-2 and Class B-3 Certificates) in excess thereof, except that one Certificate of any of the Class B-1, Class B-2 and Class B-3 Certificates that contain an uneven multiple of $1,000 shall be issued in a denomination equal to the sum of the related minimum denomination set forth above and such uneven multiple for such Class or the sum of such denomination and an integral multiple of $1,000. (3) ---------------------------------------------------------------------------------------------- --------------- ---------------- ----------------------- --------------------------- --------------- Adjustable Initial Formula Maximum Minimum Rates: --------------- ---------------- ----------------------- --------------------------- --------------- --------------- ---------------- ----------------------- --------------------------- --------------- Class A-5 5.20375% LIBOR + 0.91% 6.50% 0.91% --------------- ---------------- ----------------------- --------------------------- --------------- --------------- ---------------- ----------------------- --------------------------- --------------- Class A-6 9.93792% 42.85666667% - 42.85666667% 0.00% (7.666667 multiplied by LIBOR) --------------- ---------------- ----------------------- --------------------------- --------------- --------------- ---------------- ----------------------- --------------------------- --------------- Class A-8 4.64375% LIBOR + 0.35% 7.50% 0.35% --------------- ---------------- ----------------------- --------------------------- --------------- --------------- ---------------- ----------------------- --------------------------- --------------- Class A-9 2.85625% 7.15% - LIBOR 7.15% 0.00% (4) The Class A-9 Certificates do not have a certificate principal balance. For the purpose of calculating interest payments, interest on the Class A-9 Certificates will accrue on a notional amount equal to the certificate principal balance of the Class A-8 Certificates immediately prior to the related distribution date, which is initially equal to approximately $42,974,000.00. (5) The initial Pass-Through Rate on the Class A-V Certificates is 0.5042%. (6) The Class A-V Certificates do not have a certificate principal balance. For the purpose of calculating interest payments, interest on the Class A-V Certificates will accrue on a notional amount equal to the aggregate stated principal balance of the mortgage loans, which is initially equal to approximately $323,843,583.63. (7) Each class of the Class R Certificates shall be issuable in minimum denominations of not less than a 20% Percentage Interest; provided, however, that one Class R Certificate of each Class will be issuable to Residential Funding as "tax matters person" pursuant to Section 10.01(c) and (e) in a minimum denomination representing a Percentage Interest of not less than 0.01%. The Mortgage Loans have an aggregate principal balance as of the Cut-off Date of $323,843,583.63 In consideration of the mutual agreements herein contained, the Company, the Master Servicer and the Trustee agree as follows:
ARTICLE I DEFINITIONS Section 1.01 Definitions. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the meanings specified in this Article. Adjustable Rate Certificates: Any of the Class A-5, Class A-6, Class A-8 and Class A-9 Certificates. Aggregate Planned Principal Balance: With respect to any Distribution Date, the amount set forth in the table entitled "Aggregate Planned Principal Balances" in Exhibit Five opposite such date. Bankruptcy Amount: As of any date of determination prior to the first anniversary of the Cut-off Date, an amount equal to the excess, if any, of (A) $115,833 over (B) the aggregate amount of Bankruptcy Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 of this Series Supplement. As of any date of determination on or after the first anniversary of the Cut-off Date, an amount equal to the excess, if any, of (1) the lesser of (a) the Bankruptcy Amount calculated as of the close of business on the Business Day immediately preceding the most recent anniversary of the Cut-off Date coinciding with or preceding such date of determination (or, if such date of determination is an anniversary of the Cut-off Date, the Business Day immediately preceding such date of determination) (for purposes of this definition, the "Relevant Anniversary") and (b) the greatest of (A) (i) if the aggregate principal balance of the Non-Primary Residence Loans as of the Relevant Anniversary is less than 10% of the Stated Principal Balance of the Mortgage Loans as of the Relevant Anniversary, $0.00, or (ii) if the aggregate principal balance of the Non-Primary Residence Loans as of the Relevant Anniversary is equal to or greater than 10% of the Stated Principal Balance of the Mortgage Loans as of the Relevant Anniversary, the sum of (I) the aggregate principal balance of the Non-Primary Residence Loans with a Loan-to-Value Ratio of greater than 80.00% but less than or equal to 90.00% (other than Additional Collateral Loans), times 0.25%, (II) the aggregate principal balance of the Non-Primary Residence Loans with a Loan-to-Value Ratio of greater than 90.00% but less than or equal to 95.00% (other than Additional Collateral Loans), times 0.50%, and (III) the aggregate principal balance of the Non-Primary Residence Loans with a Loan-to-Value Ratio of greater than 95.00% (other than Additional Collateral Loans) times 0.75%, in each case as of the Relevant Anniversary; (B) the greater of (i) the product of (x) an amount equal to the largest difference in the related Monthly Payment for any Non-Primary Residence Loan remaining in the Mortgage Pool (other than Additional Collateral Loans) which had an original Loan-to-Value Ratio of 80% or greater that would result if the Net Mortgage Rate thereof was equal to the weighted average (based on the principal balance of the Mortgage Loans as of the Relevant Anniversary) of the Net Mortgage Rates of all Mortgage Loans as of the Relevant Anniversary less 1.25% per annum, (y) a number equal to the weighted average remaining term to maturity, in months, of all Non-Primary Residence Loans remaining in the Mortgage Pool as of the Relevant Anniversary, and (z) one plus the quotient of the number of all Non-Primary Residence Loans remaining in the Mortgage Pool divided by the total number of Outstanding Mortgage Loans in the Mortgage Pool as of the Relevant Anniversary, and (ii) $50,000; and (C) the greater of (i) 0.0006 times the aggregate principal balance of all the Mortgage Loans in the Mortgage Pool as of the Relevant Anniversary having a Loan-to-Value Ratio (other than Additional Collateral Loans) at origination which exceeds 75% and (ii) $100,000, over (2) the aggregate amount of Bankruptcy Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the Relevant Anniversary. The Bankruptcy Amount may be further reduced by the Master Servicer (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, the Master Servicer shall (i) obtain written confirmation from each Rating Agency that such reduction shall not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency and (ii) provide a copy of such written confirmation to the Trustee. Certificate: Any Class A, Class M, Class B or Class R Certificate. Certificate Account: The separate account or accounts created and maintained pursuant to Section 4.01 of the Standard Terms, which shall be entitled "Deutsche Bank Trust Company Americas, as trustee, in trust for the registered holders of Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series 2006-QS1" and which must be an Eligible Account. Certificate Policy: None. Class A Certificate: Any one of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-V or Class A-P Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed to the Standard Terms as Exhibit A. Class R Certificate: Any one of the Class R-I Certificates and Class R-II Certificates. Class R-I Certificate: Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed to the Standard Terms as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions. Class R-II Certificate: Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed to the Standard Terms as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions. Closing Date: January 30, 2006. Corporate Trust Office: The principal office of the Trustee at which at any particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of the execution of this instrument is located at 1761 East St. Andrew Place, Santa Ana, California 92705-4934, Attention: Residential Funding Corporation Series 2006-QS1. Cut-off Date: January 1, 2006. Determination Date: With respect to any Distribution Date, the second Business Day prior to each Distribution Date. Discount Net Mortgage Rate: 6.00% per annum. Due Period: With respect to each Distribution Date, the calendar month in which such Distribution Date occurs. Eligible Funds: On any Distribution Date, the excess, if any, of the Available Distribution Amount over the sum of (i) the aggregate amount of Accrued Certificate Interest on the Senior Certificates, (ii) the Senior Principal Distribution Amount (determined without regard to Section 4.02(a)(ii)(Y)(D) hereof), (iii) the Class A-P Principal Distribution Amount (determined without regard to clause (E) of the definition of Class A-P Principal Distribution Amount) and (iv) the aggregate amount of Accrued Certificate Interest on the Class M, Class B-1 and Class B-2 Certificates. Floater Certificates: The Class A-5 Certificates and Class A-8 Certificates. Fraud Loss Amount: As of any date of determination after the Cut-off Date, an amount equal to: (X) prior to the first anniversary of the Cut-off Date an amount equal to 3.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the Cut-off Date minus the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 of this Series Supplement since the Cut-off Date up to such date of determination, (Y) from the first to, but not including, the second anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 2.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination, and (Z) from the second to, but not including, the fifth anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 1.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination. On and after the fifth anniversary of the Cut-off Date, the Fraud Loss Amount shall be zero. The Fraud Loss Amount may be further reduced by the Master Servicer (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, the Master Servicer shall (i) obtain written confirmation from each Rating Agency that such reduction shall not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency and (ii) provide a copy of such written confirmation to the Trustee. Initial Monthly Payment Fund: $224,710 representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the February 2006 Due Period, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment. Initial Notional Amount: With respect to the Class A-9 Certificates, $42,974,000. With respect to the Class A-V Certificates or Subclass thereof issued pursuant to Section 5.01(c) of the Standard Terms, the aggregate Cut-off Date Principal Balance of the Mortgage Loans corresponding to the Uncertificated REMIC I Regular Interests Z represented by such Class or Subclass on such date. Initial Subordinate Class Percentage: With respect to each Class of Subordinate Certificates, an amount which is equal to the initial aggregate Certificate Principal Balance of such Class of Subordinate Certificates divided by the aggregate Stated Principal Balance of all the Mortgage Loans as of the Cut-off Date as follows: Class M-1: 3.25% Class B-1: 0.50% Class M-2: 1.00% Class B-2: 0.40% Class M-3: 0.75% Class B-3: 0.35% Interest Accrual Period: With respect to any Class of Certificates (other than the Adjustable Rate Certificates) and any Distribution Date, the calendar month preceding the month in which such Distribution Date occurs. With respect to the Adjustable Rate Certificates and any Distribution Date, the period beginning on the 25th day of the month preceding the month in which such Distribution Date occurs and ending on the 24th day of the month in which such Distribution Date occurs. Interest Only Certificates: Any one of the Class A-9 Certificates or Class A-V Certificates. The Interest Only Certificates will have no Certificate Principal Balance. Inverse Floater Certificates: The Class A-6 Certificates and Class A-9 Certificates. LIBOR: With respect to any Distribution Date, the arithmetic mean of the London interbank offered rate quotations for one-month U.S. Dollar deposits, expressed on a per annum basis, determined in accordance with Section 1.03. Lockout Certificates: The Class A-7 Certificates. Lockout Percentage: For any Distribution Date occurring prior to the Distribution Date in February 2011, 0%. For any Distribution Date occurring thereafter, as follows: 30% for any Distribution Date on or after February 2011 and prior to February 2012; 40% for any Distribution Date on or after February 2012 and prior to February 2013; 60% for any Distribution Date on or after February 2013 and prior to February 2014; 80% for any Distribution Date on or after February 2014 and prior to February 2015; and 100% for any Distribution Date thereafter. Maturity Date: January 25, 2036, the Distribution Date immediately following the latest scheduled maturity date of any Mortgage Loan. Mortgage Loan Schedule: The list or lists of the Mortgage Loans attached hereto as Exhibit One (as amended from time to time to reflect the addition of Qualified Substitute Mortgage Loans), which list or lists shall set forth the following information as to each Mortgage Loan: (i) the Mortgage Loan identifying number ("RFC LOAN #"); (ii) the maturity of the Mortgage Note ("MATURITY DATE"); (iii) the Mortgage Rate ("ORIG RATE"); (iv) the Subservicer pass-through rate ("CURR NET"); (v) the Net Mortgage Rate ("NET MTG RT"); (vi) the Pool Strip Rate ("STRIP"); (vii) the initial scheduled monthly payment of principal, if any, and interest ("ORIGINAL P & I"); (viii) the Cut-off Date Principal Balance ("PRINCIPAL BAL"); (ix) the Loan-to-Value Ratio at origination ("LTV"); (x) the rate at which the Subservicing Fee accrues ("SUBSERV FEE") and at which the Servicing Fee accrues ("MSTR SERV FEE"); (xi) a code "T," "BT" or "CT" under the column "LN FEATURE," indicating that the Mortgage Loan is secured by a second or vacation residence; and (xii) a code "N" under the column "OCCP CODE," indicating that the Mortgage Loan is secured by a non-owner occupied residence. Such schedule may consist of multiple reports that collectively set forth all of the information required. Notional Amount: As of any Distribution Date, (i) with respect to the Class A-9 Certificates, an amount equal to the Certificate Principal Balance of the Class A-8 Certificates immediately prior to such date, provided, however, for federal income tax purposes, as of any Distribution Date, with respect to the Class A-9 Certificates, the equivalent of the foregoing, expressed as the Uncertificated Principal Balance of Uncertificated REMIC I Regular Interest W immediately prior to that date; and (ii) with respect to any Class A-V Certificates or Subclass thereof issued pursuant to Section 5.01(c) of the Standard Terms, the aggregate Stated Principal Balance of the Mortgage Loans corresponding to the Uncertificated REMIC I Regular Interests Z represented by such Class or Subclass immediately prior to such date. Pass-Through Rate: With respect to the Senior Certificates (other than the Adjustable Rate, Class A-V and Class A-P Certificates), Class M Certificates and Class B Certificates and any Distribution Date, the per annum rates set forth in the Preliminary Statement hereto. o With respect to the Class A-5 and the initial Interest Accrual Period, 5.20375% per annum, and as to any Interest Accrual Period thereafter, a per annum rate equal to LIBOR plus 0.91%, subject to a maximum rate of 6.50% and a minimum rate of 0.91% per annum. o With respect to the Class A-6 Certificates and the initial Interest Accrual Period, 9.93792% per annum, and as to any Interest Accrual Period thereafter, a rate equal to 42.85666667% minus (7.666667 multiplied by LIBOR), subject to a maximum rate of 42.85666667% per annum and a minimum rate of 0.00% per annum. o With respect to the Class A-8 Certificates and the initial Interest Accrual Period, 4.6437% per annum, and as to any Interest Accrual Period thereafter, a per annum rate equal to LIBOR plus 0.35%, subject to a maximum rate of 7.50% per annum and a minimum rate of 0.35% per annum. o With respect to the Class A-9 Certificates and the initial Interest Accrual Period, 2.85625% per annum, and as to any Interest Accrual Period thereafter, a rate equal to 7.15 minus LIBOR, subject to a maximum rate of 7.15% per annum and a minimum rate of 0.00% per annum. With respect to the Class A-V Certificates (other than any Subclass thereof) and any Distribution Date, a rate equal to the weighted average, expressed as a percentage, of the Pool Strip Rates of all Mortgage Loans as of the Due Date in the related Due Period, weighted on the basis of the respective Stated Principal Balances of such Mortgage Loans as of the day immediately preceding such Distribution Date (or, with respect to the initial Distribution Date, at the close of business on the Cut-off Date). With respect to the Class A-V Certificates and the initial Distribution Date the Pass-Through Rate is equal to 0.5042% per annum. With respect to any Subclass of Class A-V Certificates and any Distribution Date, a rate equal to the weighted average, expressed as a percentage, of the Pool Strip Rates of all Mortgage Loans corresponding to the Uncertificated REMIC I Regular Interests Z represented by such Subclass as of the Due Date in the related Due Period, weighted on the basis of the respective Stated Principal Balances of such Mortgage Loans as of the day immediately preceding such Distribution Date (or with respect to the initial Distribution Date, at the close of business on the Cut-off Date). The Principal Only Certificates have no Pass-Through Rate and are not entitled to Accrued Certificate Interest. Prepayment Assumption: The prepayment assumption to be used for determining the accrual of original issue discount and premium and market discount on the Certificates for federal income tax purposes, which assumes a constant prepayment rate of 8.0% per annum of the then outstanding principal balance of the related Mortgage Loans in the first month of the life of such Mortgage Loans and an additional approximately 1.0909091% per annum in each month thereafter until the twelfth month, and beginning in the twelfth month and in each month thereafter during the life of the Mortgage Loans, a constant prepayment rate of 20.0% per annum. Prepayment Distribution Percentage: With respect to any Distribution Date and each Class of Subordinate Certificates, under the applicable circumstances set forth below, the respective percentages set forth below: (i) For any Distribution Date prior to the Distribution Date in February 2011 (unless the Certificate Principal Balances of the Senior Certificates (other than the Class A-P Certificates) have been reduced to zero), 0%. (ii) For any Distribution Date not discussed in clause (i) above on which any Class of Subordinate Certificates are outstanding: (a) in the case of the Class of Subordinate Certificates then outstanding with the Highest Priority and each other Class of Subordinate Certificates for which the related Prepayment Distribution Trigger has been satisfied, a fraction, expressed as a percentage, the numerator of which is the Certificate Principal Balance of such Class immediately prior to such date and the denominator of which is the sum of the Certificate Principal Balances immediately prior to such date of (1) the Class of Subordinate Certificates then outstanding with the Highest Priority and (2) all other Classes of Subordinate Certificates for which the respective Prepayment Distribution Triggers have been satisfied; and (b) in the case of each other Class of Subordinate Certificates for which the Prepayment Distribution Triggers have not been satisfied, 0%; and Notwithstanding the foregoing, if the application of the foregoing percentages on any Distribution Date as provided in Section 4.02 of this Series Supplement (determined without regard to the proviso to the definition of "Subordinate Principal Distribution Amount") would result in a distribution in respect of principal of any Class or Classes of Subordinate Certificates in an amount greater than the remaining Certificate Principal Balance thereof (any such class, a "Maturing Class"), then: (a) the Prepayment Distribution Percentage of each Maturing Class shall be reduced to a level that, when applied as described above, would exactly reduce the Certificate Principal Balance of such Class to zero; (b) the Prepayment Distribution Percentage of each other Class of Subordinate Certificates (any such Class, a "Non-Maturing Class") shall be recalculated in accordance with the provisions in paragraph (ii) above, as if the Certificate Principal Balance of each Maturing Class had been reduced to zero (such percentage as recalculated, the "Recalculated Percentage"); (c) the total amount of the reductions in the Prepayment Distribution Percentages of the Maturing Class or Classes pursuant to clause (a) of this sentence, expressed as an aggregate percentage, shall be allocated among the Non-Maturing Classes in proportion to their respective Recalculated Percentages (the portion of such aggregate reduction so allocated to any Non-Maturing Class, the "Adjustment Percentage"); and (d) for purposes of such Distribution Date, the Prepayment Distribution Percentage of each Non-Maturing Class shall be equal to the sum of (1) the Prepayment Distribution Percentage thereof, calculated in accordance with the provisions in paragraph (ii) above as if the Certificate Principal Balance of each Maturing Class had not been reduced to zero, plus (2) the related Adjustment Percentage. Principal Only Certificates: Any one of the Class A-P Certificates. Record Date: With respect to each Distribution Date and each Class of Certificates (other than the Adjustable Rate Certificates for so long as the Adjustable Rate Certificates are in book-entry form), the close of business on the last Business Day of the month preceding the month in which the related Distribution Date occurs. With respect to each Distribution Date and the Adjustable Rate Certificates (so long as they are Book-Entry Certificates), the close of business on the Business Day prior to such Distribution Date. Related Classes: As to any Uncertificated REMIC I Regular Interest, those classes of Certificates identified as "Related Classes of Certificates" to such Uncertificated REMIC I Regular Interest in the definition of Uncertificated REMIC I Regular Interest. REMIC I: The segregated pool of assets with respect to which a REMIC election is to be made, consisting of: (i) the Mortgage Loans and the related Mortgage Files, (ii) all payments and collections in respect of the Mortgage Loans due after the Cut-off Date (other than Monthly Payments due in the month of the Cut-off Date) as shall be on deposit in the Custodial Account or in the Certificate Account and identified as belonging to the Trust Fund, including the proceeds from the liquidation of Additional Collateral for any Additional Collateral Loan, but not including amounts on deposit in the Initial Monthly Payment Fund, (iii) property which secured a Mortgage Loan and which has been acquired for the benefit of the Certificateholders by foreclosure or deed in lieu of foreclosure, (iv) the hazard insurance policies and Primary Insurance Policies, if any, the Pledged Assets with respect to each Pledged Asset Mortgage Loan, and the interest in the Surety Bond transferred to the Trustee pursuant to Section 2.01 herein, and (v) all proceeds of clauses (i) through (iv) above. REMIC I Certificates: The Class R-I Certificates. REMIC II: The segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests conveyed in trust to the Trustee for the benefit of the holders of each Class of Certificates (other than the Class R-I Certificates) pursuant to Section 2.06, with respect to which a separate REMIC election is to be made. Senior Certificate: Any one of the Class A Certificates or Class R Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed to the Standard Terms as Exhibit A and Exhibit D. Senior Interest Distribution Amount: With respect to any Distribution Date, the aggregate amount of Accrued Certificate Interest to be distributed to the Holders of the Senior Certificates for that Distribution Date. Senior Percentage: As of any Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates) immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date. Senior Principal Distribution Amount: With respect to any Distribution Date, the lesser of (a) the balance of the Available Distribution Amount remaining after the distribution of all amounts required to be distributed therefrom pursuant to Section 4.02(a)(i) and Section 4.02(a)(ii)(X) (excluding any amount distributable pursuant to clause (E) of the definition of "Class A-P Principal Distribution Amount") and (b) the sum of the amounts required to be distributed to the Senior Certificateholders on such Distribution Date pursuant to Sections 4.02(a)(ii)(Y), 4.02(a)(xvi) and 4.02(a)(xvii). Senior Support Certificates: The Class A-2 Certificates. Special Hazard Amount: As of any Distribution Date, an amount equal to $3,238,436 minus the sum of (i) the aggregate amount of Special Hazard Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 of this Series Supplement and (ii) the Adjustment Amount (as defined below) as most recently calculated. For each anniversary of the Cut-off Date, the Adjustment Amount shall be equal to the amount, if any, by which the amount calculated in accordance with the preceding sentence (without giving effect to the deduction of the Adjustment Amount for such anniversary) exceeds the greater of (A) the greater of (i) the product of the Special Hazard Percentage for such anniversary multiplied by the outstanding principal balance of all the Mortgage Loans on the Distribution Date immediately preceding such anniversary and (ii) twice the outstanding principal balance of the Mortgage Loan with the largest outstanding principal balance as of the Distribution Date immediately preceding such anniversary and (B) the greater of (i) the product of 0.50% multiplied by the outstanding principal balance of all Mortgage Loans on the Distribution Date immediately preceding such anniversary multiplied by a fraction, the numerator of which is equal to the aggregate outstanding principal balance (as of the immediately preceding Distribution Date) of all of the Mortgage Loans secured by Mortgaged Properties located in the State of California divided by the aggregate outstanding principal balance (as of the immediately preceding Distribution Date) of all of the Mortgage Loans, expressed as a percentage, and the denominator of which is equal to 31.92% (which percentage is equal to the percentage of Mortgage Loans by aggregate principal balance initially secured by Mortgaged Properties located in the State of California) and (ii) the aggregate outstanding principal balance (as of the immediately preceding Distribution Date) of the largest Mortgage Loan secured by a Mortgaged Property (or, with respect to a Cooperative Loan, the related Cooperative Apartment) located in the State of California. The Special Hazard Amount may be further reduced by the Master Servicer (including accelerating the manner in which coverage is reduced) provided that prior to any such reduction, the Master Servicer shall (i) obtain written confirmation from each Rating Agency that such reduction shall not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency and (ii) provide a copy of such written confirmation to the Trustee. Special Hazard Percentage: As of each anniversary of the Cut-off Date, the greater of (i) 1.0% and (ii) the largest percentage obtained by dividing the aggregate outstanding principal balance (as of immediately preceding Distribution Date) of the Mortgage Loans secured by Mortgaged Properties located in a single, five-digit zip code area in the State of California by the outstanding principal balance of all the Mortgage Loans as of the immediately preceding Distribution Date. Subordinate Principal Distribution Amount: With respect to any Distribution Date and each Class of Subordinate Certificates, (a) the sum of (i) the product of (x) the related Subordinate Class Percentage for such Class and (y) the aggregate of the amounts calculated (without giving effect to the related Senior Percentages) for such Distribution Date under clauses (1), (2) and (3) of Section 4.02(a)(ii)(Y)(A); (ii) such Class's pro rata share, based on the Certificate Principal Balance of each Class of Subordinate Certificates then outstanding, of the principal collections described in Section 4.02(a)(ii)(Y)(B)(b) (without giving effect to the Senior Accelerated Distribution Percentage) to the extent such collections are not otherwise distributed to the Senior Certificates; (iii) the product of (x) the related Prepayment Distribution Percentage and (y) the aggregate of all Principal Prepayments in Full received in the related Prepayment Period and Curtailments received in the preceding calendar month (other than the related Discount Fraction of such Principal Prepayments in Full and Curtailments with respect to a Discount Mortgage Loan) to the extent not payable to the Senior Certificates; (iv) if such Class is the Class of Subordinate Certificates with the Highest Priority, any Excess Subordinate Principal Amount for such Distribution Date not paid to the Senior Certificates; and (v) any amounts described in clauses (i), (ii) and (iii) as determined for any previous Distribution Date, that remain undistributed to the extent that such amounts are not attributable to Realized Losses which have been allocated to a Class of Subordinate Certificates; minus (b) the sum of (i) with respect to the Class of Subordinate Certificates with the Lowest Priority, any Excess Subordinate Principal Amount for such Distribution Date; and (ii) the Capitalization Reimbursement Amount for such Distribution Date, other than the related Discount Fraction of any portion of that amount related to each Discount Mortgage Loan, multiplied by a fraction, the numerator of which is the Subordinate Principal Distribution Amount for such Class of Subordinate Certificates, without giving effect to this clause (b)(ii), and the denominator of which is the sum of the principal distribution amounts for all Classes of Certificates other than the Class A-P Certificates, without giving effect to any reductions for the Capitalization Reimbursement Amount. Super Senior Certificates: The Class A-3 Certificates. Uncertificated Accrued Interest: With respect to each Distribution Date, (i) as to each Uncertificated REMIC I Regular Interest other than each Uncertificated REMIC I Regular Interest Z, an amount equal to the aggregate amount of Accrued Certificate Interest that would result under the terms of the definition thereof on the Related Classes of Certificates (excluding any Interest Only Certificates) if the Pass-Through Rate on such Classes were equal to the Uncertificated Pass-Through Rate on such Uncertificated REMIC I Regular Interest, (ii) as to each Uncertificated REMIC I Regular Interest Z and each Uncertificated REMIC II Regular Interest Z, an amount equal to one month's interest at the Pool Strip Rate of the related Mortgage Loan on the principal balance of such Mortgage Loan reduced by such Interest's pro-rata share of any prepayment interest shortfalls or other reductions of interest allocable to the Class A-V Certificates. Uncertificated Pass-Through Rate: With respect to each of the Uncertificated REMIC I Regular Interests, other than the Uncertificated REMIC I Regular Interests Z, the per annum rate specified in the definition of Uncertificated REMIC I Regular Interests. With respect to each Uncertificated REMIC I Regular Interest Z and each Uncertificated REMIC II Regular Interest Z, the Pool Strip Rate for the related Mortgage Loan. Uncertificated Principal Balance: With respect to each Uncertificated REMIC I Regular Interest, as defined in the definition of Uncertificated REMIC I Regular Interests. Uncertificated REMIC I Regular Interests: The Uncertificated REMIC I Regular Interests Z together with the interests identified in the table below, each representing an undivided beneficial ownership interest in REMIC I, and having the following characteristics: 1. The principal balance from time to time of each Uncertificated REMIC I Regular Interest identified in the table below shall be the amount identified as the Initial Principal Balance thereof in such table, minus the sum of (x) the aggregate of all amounts previously deemed distributed with respect to such interest and applied to reduce the Uncertificated Principal Balance thereof pursuant to Section 10.04(a)(ii) and (y) the aggregate of all reductions in Certificate Principal Balance deemed to have occurred in connection with Realized Losses that were previously deemed allocated to the Uncertificated Principal Balance of such Uncertificated REMIC I Regular Interest pursuant to Section 10.04(d), which equals the aggregate principal balance of the Classes of Certificates identified as related to such Uncertificated REMIC I Regular Interest in such table. 2. The Uncertificated Pass-Through Rate for each Uncertificated REMIC I Regular Interest identified in the table below shall be the per annum rate set forth in the Pass-Through Rate column of such table. 3. The Uncertificated REMIC I Distribution Amount for each REMIC I Regular Interest identified in the table below shall be, for any Distribution Date, the amount deemed distributed with respect to such Uncertificated REMIC I Regular Interest on such Distribution Date pursuant to the provisions of Section 10.04(a). -------------------------- --------------------------- --------------------- ------------------ Uncertificated REMIC I Related Classes of Pass-Through Rate Initial Regular Interest Certificates Principal Balance -------------------------- --------------------------- --------------------- ------------------ -------------------------- --------------------------- --------------------- ------------------ V Class A-1, Class A-2, 5.75% $257,844,000.00 Class A-3, Class A-4, Class A-5, Class A-6 and Class A-7 -------------------------- --------------------------- --------------------- ------------------ -------------------------- --------------------------- --------------------- ------------------ W Class A-8 and Class A-9 7.50% $42,974,000.00 -------------------------- --------------------------- --------------------- ------------------ -------------------------- --------------------------- --------------------- ------------------ X Class A-P 0.00% $2,784,564.75 -------------------------- --------------------------- --------------------- ------------------ -------------------------- --------------------------- --------------------- ------------------ Y Class R-II, Class M-1, 6.00% $20,240,918.88 Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 -------------------------- --------------------------- --------------------- ------------------ Uncertificated REMIC I Regular Interests Z: Each of the 1,399 uncertificated partial undivided beneficial ownership interests in the Trust Fund, numbered sequentially from 1 to 1,399, each relating to the particular Mortgage Loan identified by such sequential number on the Mortgage Loan Schedule, each having no principal balance, and each bearing interest at the respective Pool Strip Rate on the Stated Principal Balance of the related Mortgage Loan. Uncertificated REMIC I Regular Interests Z Distribution Amount: With respect to any Distribution Date, the sum of the amounts deemed to be distributed on the Uncertificated REMIC I Regular Interests Z for such Distribution Date pursuant to Section 10.04(a). Uncertificated REMIC I Regular Interest Distribution Amounts: With respect to each Uncertificated REMIC I Regular Interest, other than the Uncertificated REMIC I Regular Interests Z, the amount specified as the Uncertificated REMIC I Regular Interest Distribution Amount with respect thereto in the definition of Uncertificated REMIC I Regular Interests. With respect to the Uncertificated REMIC I Regular Interests Z, the Uncertificated REMIC I Regular Interests Z Distribution Amount. Uncertificated REMIC II Regular Interests Z: Each of the 1,399 uncertificated partial undivided beneficial ownership interests in REMIC II numbered sequentially from 1 through 1,399, each relating to the identically numbered Uncertificated REMIC I Regular Interests Z, each having no principal balance and bearing interest at a rate equal to the related Pool Strip Rate on the Stated Principal Balance of the Mortgage Loan related to the identically numbered Uncertificated REMIC I Regular Interests Z, comprising such Uncertificated REMIC II Regular Interests Z's pro rata share of the amount distributed pursuant to Section 10.04(a). Uncertificated REMIC II Regular Interests Distribution Amount: With respect to any Distribution Date, the sum of the amounts deemed to be distributed on the Uncertificated REMIC I Regular Interests Z for such Distribution Date pursuant to Section 10.04(a). Underwriters: Bear, Stearns & Co., Inc. and J.P. Morgan Securities, Inc.. Section 1.02 Use of Words and Phrases. "Herein," "hereby," "hereunder," "hereof," "hereinbefore," "hereinafter" and other equivalent words refer to the Pooling and Servicing Agreement as a whole. All references herein to Articles, Sections or Subsections shall mean the corresponding Articles, Sections and Subsections in the Pooling and Servicing Agreement. The definitions set forth herein include both the singular and the plural. Section 1.03. Determination of LIBOR. LIBOR applicable to the calculation of the Pass-Through Rates on the Adjustable Rate Certificates for any Interest Accrual Period (other than the initial Interest Accrual Period) will be determined as described below: On each Distribution Date, LIBOR shall be established by the Trustee and, as to any Interest Accrual Period, will equal the rate for one month United States dollar deposits that appears on the Telerate Screen Page 3750 of the Moneyline Telerate Capital Markets Report as of 11:00 a.m., London time, on the second LIBOR Business Day prior to the first day of such Interest Accrual Period ("LIBOR Rate Adjustment Date"). "Telerate Screen Page 3750" means the display designated as page 3750 on the Telerate Service (or such other page as may replace page 3750 on that service for the purpose of displaying London interbank offered rates of major banks). If such rate does not appear on such page (or such other page as may replace that page on that service, or if such service is no longer offered, any other service for displaying LIBOR or comparable rates as may be selected by the Trustee after consultation with the Master Servicer), the rate will be the Reference Bank Rate. The "Reference Bank Rate" will be determined on the basis of the rates at which deposits in U.S. Dollars are offered by the reference banks (which shall be any three major banks that are engaged in transactions in the London interbank market, selected by the Trustee after consultation with the Master Servicer) as of 11:00 a.m., London time, on the day that is one LIBOR Business Day prior to the immediately preceding Distribution Date to prime banks in the London interbank market for a period of one month in amounts approximately equal to the aggregate Certificate Principal Balance of the Adjustable Rate Certificates then outstanding. The Trustee will request the principal London office of each of the reference banks to provide a quotation of its rate. If at least two such quotations are provided, the rate will be the arithmetic mean of the quotations rounded up to the next multiple of 1/16%. If on such date fewer than two quotations are provided as requested, the rate will be the arithmetic mean of the rates quoted by one or more major banks in New York City, selected by the Trustee after consultation with the Master Servicer, as of 11:00 a.m., New York City time, on such date for loans in U.S. Dollars to leading European banks for a period of one month in amounts approximately equal to the aggregate Certificate Principal Balance of the Adjustable Rate Certificates then outstanding. If no such quotations can be obtained, the rate will be LIBOR for the prior Distribution Date, or, in the case of the first LIBOR Rate Adjustment Date, 4.31% per annum; provided, however, if, under the priorities described above, LIBOR for a Distribution Date would be based on LIBOR for the previous Distribution Date for the third consecutive Distribution Date, the Trustee shall, after consultation with the Master Servicer, select an alternative comparable index (over which the Trustee has no control), used for determining one-month Eurodollar lending rates that is calculated and published (or otherwise made available) by an independent party. "LIBOR Business Day" means any day other than (i) a Saturday or a Sunday or (ii) a day on which banking institutions in the city of London, England are required or authorized by law to be closed. The establishment of LIBOR by the Trustee on any LIBOR Rate Adjustment Date and the Master Servicer's subsequent calculation of the Pass-Through Rates applicable to each of the Adjustable Rate Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each LIBOR Rate Adjustment Date the Trustee shall supply the Master Servicer with the results of its determination of LIBOR on such date. Furthermore, the Trustee will supply the Pass-Through Rates on each of the Adjustable Rate Certificates for the current and the immediately preceding Interest Accrual Period via the Trustee's internet website, which may be obtained by telephoning the Trustee at (800) 735-7777.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES Section 2.01 Conveyance of Mortgage Loans. (See Section 2.01 of the Standard Terms). Section 2.02 Acceptance by Trustee. (See Section 2.02 of the Standard Terms) Section 2.03 Representations, Warranties and Covenants of the Master Servicer and the Company. (a) For representations, warranties and covenants of the Master Servicer, see Section 2.03(a) of the Standard Terms. (b) The Company hereby represents and warrants to the Trustee for the benefit of Certificateholders that as of the Closing Date (or, if otherwise specified below, as of the date so specified): (i) No Mortgage Loan is 30 or more days Delinquent in payment of principal and interest as of the Cut-off Date and no Mortgage Loan has been so Delinquent more than once in the 12-month period prior to the Cut-off Date; (ii) The information set forth in Exhibit One hereto with respect to each Mortgage Loan or the Mortgage Loans, as the case may be, is true and correct in all material respects at the date or dates respecting which such information is furnished; (iii) The Mortgage Loans are fully-amortizing (subject to interest only periods, if applicable), fixed-rate mortgage loans with level Monthly Payments due, with respect to a majority of the Mortgage Loans, on the first day of each month and terms to maturity at origination or modification of not more than 30 years; (iv) To the best of the Company's knowledge, except in the case of approximately 0.6% of the aggregate principal balance of the Mortgage Loans, if a Mortgage Loan is secured by a Mortgaged Property with a Loan-to-Value Ratio at origination in excess of 80%, such Mortgage Loan is the subject of a Primary Insurance Policy that insures (a) at least 35% of the Stated Principal Balance of the Mortgage Loan at origination if the Loan-to-Value Ratio is between 100.00% and 95.01%, (b) at least 30% of the Stated Principal Balance of the Mortgage Loan at origination if the Loan-to-Value Ratio is between 95.00% and 90.01%, (c) at least 25% of such balance if the Loan-to-Value Ratio is between 90.00% and 85.01% and (d) at least 12% of such balance if the Loan-to-Value Ratio is between 85.00% and 80.01%. To the best of the Company's knowledge, each such Primary Insurance Policy is in full force and effect and the Trustee is entitled to the benefits thereunder; (v) The issuers of the Primary Insurance Policies are insurance companies whose claims-paying abilities are currently acceptable to each Rating Agency; (vi) No more than 0.6% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date are secured by Mortgaged Properties located in any one zip code area in California and no more than 0.5% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date are secured by Mortgaged Properties located in any one zip code area outside California; (vii) The improvements upon the Mortgaged Properties are insured against loss by fire and other hazards as required by the Program Guide, including flood insurance if required under the National Flood Insurance Act of 1968, as amended. The Mortgage requires the Mortgagor to maintain such casualty insurance at the Mortgagor's expense, and on the Mortgagor's failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at the Mortgagor's expense and to seek reimbursement therefor from the Mortgagor; (viii) Immediately prior to the assignment of the Mortgage Loans to the Trustee, the Company had good title to, and was the sole owner of, each Mortgage Loan free and clear of any pledge, lien, encumbrance or security interest (other than rights to servicing and related compensation) and such assignment validly transfers ownership of the Mortgage Loans to the Trustee free and clear of any pledge, lien, encumbrance or security interest; (ix) Approximately 44.2% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date were underwritten under a reduced loan documentation program, approximately 11.3% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date were underwritten under a no-stated income program, and approximately 18.5% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date were underwritten under a no income/no asset program; (x) Except with respect to approximately 20.1% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date, the Mortgagor represented in its loan application with respect to the related Mortgage Loan that the Mortgaged Property would be owner-occupied; (xi) None of the Mortgage Loans is a Buy-Down Mortgage Loan; (xii) Each Mortgage Loan constitutes a qualified mortgage under Section 860G(a)(3)(A) of the Code and Treasury Regulations Section 1.860G-2(a)(1), (2), (4), (5) and (6), without reliance on the provisions of Treasury Regulation Section 1.860G-2(a)(3) or Treasury Regulation Section 1.860G-2(f)(2) or any other provision that would allow a Mortgage Loan to be treated as a "qualified mortgage" notwithstanding its failure to meet the requirements of Section 860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1), (2), (4), (5) and (6); (xiii) A policy of title insurance was effective as of the closing of each Mortgage Loan and is valid and binding and remains in full force and effect, unless the Mortgaged Properties are located in the State of Iowa and an attorney's certificate has been provided as described in the Program Guide; (xiv) No more than 0.2% of the Mortgage Loans by aggregate Stated Principal Balance as of the Cut-off Date are Cooperative Loans; (xv) With respect to each Mortgage Loan originated under a "streamlined" Mortgage Loan program (through which no new or updated appraisals of Mortgaged Properties are obtained in connection with the refinancing thereof), the related Seller has represented that either (a) the value of the related Mortgaged Property as of the date the Mortgage Loan was originated was not less than the appraised value of such property at the time of origination of the refinanced Mortgage Loan or (b) the Loan-to-Value Ratio of the Mortgage Loan as of the date of origination of the Mortgage Loan generally meets the Company's underwriting guidelines; (xvi) Interest on each Mortgage Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months; (xvii) None of the Mortgage Loans contain in the related Mortgage File a Destroyed Mortgage Note; (xviii) None of the Mortgage Loans has been made to an International Borrower, and no such Mortgagor is a member of a foreign diplomatic mission with diplomatic rank; (xix) No Mortgage Loan provides for payments that are subject to reduction by withholding taxes levied by any foreign (non-United States) sovereign government; and (xx) None of the Mortgage Loans is an Additional Collateral Loan and none of the Mortgage Loans is a Pledged Asset Loan. It is understood and agreed that the representations and warranties set forth in this Section 2.03(b) shall survive delivery of the respective Mortgage Files to the Trustee or any Custodian. Upon discovery by any of the Company, the Master Servicer, the Trustee or any Custodian of a breach of any of the representations and warranties set forth in this Section 2.03(b) that materially and adversely affects the interests of the Certificateholders in any Mortgage Loan, the party discovering such breach shall give prompt written notice to the other parties (any Custodian being so obligated under a Custodial Agreement); provided, however, that in the event of a breach of the representation and warranty set forth in Section 2.03(b)(xii), the party discovering such breach shall give such notice within five days of discovery. Within 90 days of its discovery or its receipt of notice of breach, the Company shall either (i) cure such breach in all material respects or (ii) purchase such Mortgage Loan from the Trust Fund at the Purchase Price and in the manner set forth in Section 2.02; provided that the Company shall have the option to substitute a Qualified Substitute Mortgage Loan or Loans for such Mortgage Loan if such substitution occurs within two years following the Closing Date; provided that if the omission or defect would cause the Mortgage Loan to be other than a "qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within 90 days from the date such breach was discovered. Any such substitution shall be effected by the Company under the same terms and conditions as provided in Section 2.04 for substitutions by Residential Funding. It is understood and agreed that the obligation of the Company to cure such breach or to so purchase or substitute for any Mortgage Loan as to which such a breach has occurred and is continuing shall constitute the sole remedy respecting such breach available to the Certificateholders or the Trustee on behalf of the Certificateholders. Section 2.04 Representations and Warranties of Sellers. (See Section 2.04 of the Standard Terms) Section 2.05 Execution and Authentication of Certificates/Issuance of Certificates Evidencing Interests in REMIC I Certificates. The Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery of the Mortgage Files to it, or any Custodian on its behalf, subject to any exceptions noted, together with the assignment to it of all other assets included in the Trust Fund and/or the applicable REMIC, receipt of which is hereby acknowledged. Concurrently with such delivery and in exchange therefor, the Trustee, pursuant to the written request of the Company executed by an officer of the Company, has executed and caused to be authenticated and delivered to or upon the order of the Company the Class R-I Certificates in authorized denominations which together with the Uncertificated REMIC I Regular Interests, evidence the beneficial interest in REMIC I. Section 2.06 Conveyance of Uncertificated REMIC I and REMIC II Regular Interests; Acceptance by the Trustee. The Company, as of the Closing Date, and concurrently with the execution and delivery hereof, does hereby assign without recourse all the right, title and interest of the Company in and to the Uncertificated REMIC I Regular Interests to the Trustee for the benefit of the Holders of each Class of Certificates (other than the Class R-I Certificates). The Trustee acknowledges receipt of the Uncertificated REMIC I Regular Interests and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of each Class of Certificates (other than the Class R-I Certificates). The rights of the Holders of each Class of Certificates (other than the Class R-I Certificates) to receive distributions from the proceeds of REMIC II in respect of such Classes, and all ownership interests of the Holders of such Classes in such distributions, shall be as set forth in this Agreement. Section 2.07 Issuance of Certificates Evidencing Interest in REMIC II. The Trustee acknowledges the assignment to it of the Uncertificated REMIC I Regular Interests and, concurrently therewith and in exchange therefor, pursuant to the written request of the Company executed by an officer of the Company, the Trustee has executed and caused to be authenticated and delivered to or upon the order of the Company, all Classes of Certificates (other than the Class R-I Certificates) in authorized denominations, which evidence the ownership in the entire REMIC II. Section 2.08 Purposes and Powers of the Trust. (See Section 2.08 of the Standard Terms).
ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS (SEE ARTICLE III OF THE STANDARD TERMS)
ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS Section 4.01 Certificate Account. (See Section 4.01 of the Standard Terms) Section 4.02 Distributions. (a) On each Distribution Date the Master Servicer on behalf of the Trustee (or the Paying Agent appointed by the Trustee) shall distribute to the Master Servicer, in the case of a distribution pursuant to Section 4.02(a)(iii) below, and to each Certificateholder of record on the next preceding Record Date (other than as provided in Section 9.01 of the Standard Terms respecting the final distribution) either in immediately available funds (by wire transfer or otherwise) to the account of such Certificateholder at a bank or other entity having appropriate facilities therefor, if such Certificateholder has so notified the Master Servicer or the Paying Agent, as the case may be, or, if such Certificateholder has not so notified the Master Servicer or the Paying Agent by the Record Date, by check mailed to such Certificateholder at the address of such Holder appearing in the Certificate Register such Certificateholder's share (which share (A) with respect to each Class of Certificates (other than any Subclass of the Class A-V Certificates), shall be based on the aggregate of the Percentage Interests represented by Certificates of the applicable Class held by such Holder or (B) with respect to any Subclass of the Class A-V Certificates, shall be equal to the amount (if any) distributed pursuant to Section 4.02(a)(i) below to each Holder of a Subclass thereof) of the following amounts, in the following order of priority (subject to the provisions of Section 4.02(b), (c) and (e) below), in each case to the extent of the Available Distribution Amount: (i) to the Senior Certificates (other than the Class A-P Certificates), on a pro rata basis based on Accrued Certificate Interest payable on such Certificates with respect to such Distribution Date, Accrued Certificate Interest on such Classes of Certificates (or Subclasses, if any, with respect to the Class A-V Certificates) for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date except as provided in the last paragraph of this Section 4.02(a); and (ii) (X) to the Class A-P Certificates, the Class A-P Principal Distribution Amount (applied to reduce the Certificate Principal Balance of such Senior Certificates); and (Y) to the Senior Certificates (other than the Class A-P, Class A-9 and Class A-V Certificates), in the priorities and amounts set forth in Section 4.02(b) and (c), the sum of the following (applied to reduce the Certificate Principal Balances of such Senior Certificates, as applicable): (A) the Senior Percentage for such Distribution Date times the sum of the following: (1) the principal portion of each Monthly Payment due during the related Due Period on each Outstanding Mortgage Loan (other than the related Discount Fraction of the principal portion of such payment with respect to a Discount Mortgage Loan), whether or not received on or prior to the related Determination Date, minus the principal portion of any Debt Service Reduction (other than the related Discount Fraction of the principal portion of such Debt Service Reductions with respect to each Discount Mortgage Loan) which together with other Bankruptcy Losses exceeds the Bankruptcy Amount; (2) the Stated Principal Balance of any Mortgage Loan repurchased during the preceding calendar month (or deemed to have been so repurchased in accordance with Section 3.07(b) of the Standard Terms) pursuant to Section 2.02, 2.03, 2.04 or 4.07 and the amount of any shortfall deposited in the Custodial Account in connection with the substitution of a Deleted Mortgage Loan pursuant to Section 2.03 or 2.04 during the preceding calendar month (other than the related Discount Fraction of such Stated Principal Balance or shortfall with respect to each Discount Mortgage Loan); and (3) the principal portion of all other unscheduled collections (other than Principal Prepayments in Full and Curtailments and amounts received in connection with a Cash Liquidation or REO Disposition of a Mortgage Loan described in Section 4.02(a)(ii)(Y)(B) of this Series Supplement, including without limitation Insurance Proceeds, Liquidation Proceeds and REO Proceeds), including Subsequent Recoveries, received during the preceding calendar month (or deemed to have been so received in accordance with Section 3.07(b) of the Standard Terms) to the extent applied by the Master Servicer as recoveries of principal of the related Mortgage Loan pursuant to Section 3.14 of the Standard Terms (other than the related Discount Fraction of the principal portion of such unscheduled collections, with respect to each Discount Mortgage Loan); (B) with respect to each Mortgage Loan for which a Cash Liquidation or a REO Disposition occurred during the preceding calendar month (or was deemed to have occurred during such period in accordance with Section 3.07(b) of the Standard Terms) and did not result in any Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses, an amount equal to the lesser of (a) the Senior Percentage for such Distribution Date times the Stated Principal Balance of such Mortgage Loan (other than the related Discount Fraction of such Stated Principal Balance, with respect to each Discount Mortgage Loan) and (b) the Senior Accelerated Distribution Percentage for such Distribution Date times the related unscheduled collections (including without limitation Insurance Proceeds, Liquidation Proceeds and REO Proceeds) to the extent applied by the Master Servicer as recoveries of principal of the related Mortgage Loan pursuant to Section 3.14 of the Standard Terms (in each case other than the portion of such unscheduled collections, with respect to a Discount Mortgage Loan, included in clause (C) of the definition of Class A-P Principal Distribution Amount); (C) the Senior Accelerated Distribution Percentage for such Distribution Date times the aggregate of all Principal Prepayments in Full received in the related Prepayment Period and Curtailments received in the preceding calendar month (other than the related Discount Fraction of such Principal Prepayments in Full and Curtailments, with respect to each Discount Mortgage Loan); (D) any Excess Subordinate Principal Amount for such Distribution Date; and (E) any amounts described in subsection (ii)(Y), clauses (A), (B) and (C) of this Section 4.02(a), as determined for any previous Distribution Date, which remain unpaid after application of amounts previously distributed pursuant to this clause (E) to the extent that such amounts are not attributable to Realized Losses which have been allocated to the Subordinate Certificates; minus (F) the Capitalization Reimbursement Amount for such Distribution Date, other than the related Discount Fraction of any portion of that amount related to each Discount Mortgage Loan, multiplied by a fraction, the numerator of which is the Senior Principal Distribution Amount, without giving effect to this clause (F), and the denominator of which is the sum of the principal distribution amounts for all Classes of Certificates other than the Class A-P Certificates, without giving effect to any reductions for the Capitalization Reimbursement Amount; (iii) if the Certificate Principal Balances of the Subordinate Certificates have not been reduced to zero, to the Master Servicer or a Sub-Servicer, by remitting for deposit to the Custodial Account, to the extent of and in reimbursement for any Advances or Sub-Servicer Advances previously made with respect to any Mortgage Loan or REO Property which remain unreimbursed in whole or in part following the Cash Liquidation or REO Disposition of such Mortgage Loan or REO Property, minus any such Advances that were made with respect to delinquencies that ultimately constituted Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses; (iv) to the Holders of the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below; (v) to the Holders of the Class M-1 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date, minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Sections 4.02(a)(vii), (ix), (xi), (xiii), (xiv) and (xv) of this Series Supplement are insufficient therefor, applied in reduction of the Certificate Principal Balance of the Class M-1 Certificates; (vi) to the Holders of the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below; (vii) to the Holders of the Class M-2 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date, minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Sections 4.02(a) (ix), (xi), (xiii), (xiv) and (xv) are insufficient therefor, applied in reduction of the Certificate Principal Balance of the Class M-2 Certificates; (viii) to the Holders of the Class M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below; (ix) to the Holders of the Class M-3 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Sections 4.02(a)(xi), (xiii), (xiv) and (xv) are insufficient therefor, applied in reduction of the Certificate Principal Balance of the Class M-3 Certificates; (x) to the Holders of the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below; (xi) to the Holders of the Class B-1 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Sections 4.02(a)(xiii), (xiv) and (xv) are insufficient therefor, applied in reduction of the Certificate Principal Balance of the Class B-1 Certificates; (xii) to the Holders of the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below; (xiii) to the Holders of the Class B-2 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Sections 4.02(a)(xiv) and (xv) are insufficient therefor, applied in reduction of the Certificate Principal Balance of the Class B-2 Certificates; (xiv) to the Holders of the Class B-3 Certificates, an amount equal to (x) the Accrued Certificate Interest thereon for such Distribution Date, plus any Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date, except as provided below, minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates, to the extent the amounts available pursuant to clause (x) of Section 4.02(a)(xv) are insufficient therefor; (xv) to the Holders of the Class B-3 Certificates, an amount equal to (x) the Subordinate Principal Distribution Amount for such Class of Certificates for such Distribution Date minus (y) the amount of any Class A-P Collection Shortfalls for such Distribution Date or remaining unpaid for all previous Distribution Dates applied in reduction of the Certificate Principal Balance of the Class B-3 Certificates; (xvi) to the Senior Certificates, on a pro rata basis in accordance with their respective outstanding Certificate Principal Balances, the portion, if any, of the Available Distribution Amount remaining after the foregoing distributions applied to reduce the Certificate Principal Balances of such Senior Certificates, but in no event more than the aggregate of the outstanding Certificate Principal Balances of each such Class of Senior Certificates, and thereafter, to each Class of Subordinate Certificates then outstanding beginning with such Class with the Highest Priority, any portion of the Available Distribution Amount remaining after the Senior Certificates have been retired, applied to reduce the Certificate Principal Balance of each such Class of Subordinate Certificates, but in no event more than the outstanding Certificate Principal Balance of each such Class of Subordinate Certificates; and (xvii) to the Class R-II Certificates, the balance, if any, of the Available Distribution Amount. Notwithstanding the foregoing, on any Distribution Date, with respect to the Class of Subordinate Certificates outstanding on such Distribution Date with the Lowest Priority, or in the event the Subordinate Certificates are no longer outstanding, the Senior Certificates, Accrued Certificate Interest thereon remaining unpaid from any previous Distribution Date will be distributable only to the extent that (1) a shortfall in the amounts available to pay Accrued Certificate Interest on any Class of Certificates results from an interest rate reduction in connection with a Servicing Modification, or (2) such unpaid Accrued Certificate Interest was attributable to interest shortfalls relating to the failure of the Master Servicer to make any required Advance, or the determination by the Master Servicer that any proposed Advance would be a Nonrecoverable Advance with respect to the related Mortgage Loan where such Mortgage Loan has not yet been the subject of a Cash Liquidation or REO Disposition or the related Liquidation Proceeds, Insurance Proceeds and REO Proceeds have not yet been distributed to the Certificateholders. (b) Distributions of principal on the Senior Certificates on each Distribution Date will be made as follows: (i) the Class A-P Principal Distribution Amount shall be distributed to the Class A-P Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (ii) the Senior Principal Distribution Amount shall be distributed: (A) first, to the Class R-I Certificates and Class R-II Certificates, on a pro rata basis in accordance with their respective Certificate Principal Balances, until the Certificate Principal Balances thereof have been reduced to zero; (B) second, the balance of the Senior Principal Distribution Amount remaining after the distributions, if any, described in clause (b)(ii)(A) above shall be distributed concurrently as follows: (a) 85.7142857143% of any remaining amount in the following manner and priority: (1) first, to the Lockout Certificates, until the Certificate Principal Balance of the Lockout Certificates has been reduced to zero, an amount equal to the Lockout Percentage of the Lockout Certificates' pro rata share (based on the Certificate Principal Balance thereof relative to the aggregate Certificate Principal Balance of all classes of Certificates (other than the Class A-P Certificates)) of the aggregate of the collections described in clauses (A), (B), (C), (D) and (E) (net of amounts set forth in clause (F)) of Section 4.02(a)(ii)(Y), without application of the Senior Percentage and the Senior Accelerated Distribution Percentage; provided, however, that if the aggregate of the amounts set forth in clauses (A), (B), (C), (D) and (E) (net of amounts set forth in clause (F)) of Section 4.02(a)(ii)(Y) is more than the balance of the Available Distribution Amount remaining after the amount payable pursuant to Section 4.02(a)(i) and the Class A-P Principal Distribution Amount have been distributed, the amount paid to the Lockout Certificates pursuant to this Section 4.02(b)(ii)(B)(a)(1) shall be reduced by an amount equal to the Lockout Certificates' pro rata share (based on the Certificate Principal Balance of the Lockout Certificates relative to the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates)) of such difference; (2) second, any remaining amount to the Class A-2, Class A-3 and Class A-4 Certificates, until the Certificate Principal Balances thereof have been reduced to the Aggregate Planned Principal Balance for that distribution date, in the following manner and priority: a. first, to the Class A-2 Certificates and Class A-3 Certificates, on a pro rata basis in accordance with their respective Certificate Principal Balances, until the Certificate Principal Balances thereof have been reduced to zero; and b. second, to the Class A-4 Certificates, until the Certificate principal Balance thereof has been reduced to zero; (3) third, any remaining amount to the Class A-5 Certificates and Class A-6 Certificates, on a pro rata basis in accordance with their respective Certificate Principal Balances, until the Certificate Principal Balances thereof have been reduced to zero; (4) fourth, any remaining amount to the Class A-2, Class A-3 and Class A-4 Certificates without regard to the Aggregate Planned Principal Balance for that distribution date, in the following manner and priority: a. first, to the class A-2 Certificates and Class A-3 Certificates, on a pro rata basis in accordance with their respective Certificate Principal Balances, until the Certificate Principal Balances thereof have been reduced to zero; and b. second, to the Class A-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; (5) fifth, any remaining amount to the Class A-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and (6) sixth, any remaining amount to the Lockout Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and (b) 14.2857142857% of any remaining amount to the Class A-8 Certificates until the Certificate Principal Balance thereof has been reduced to zero. (c) Notwithstanding Section 4.02(b), on or after the Credit Support Depletion Date, an amount equal to the Class A-P Principal Distribution Amount will be distributed to the Class A-P Certificates and then the Senior Principal Distribution Amount will be distributed to the remaining Senior Certificates (other than the Class A-P Certificates and the Class A-V Certificates) pro rata in accordance with their respective outstanding Certificate Principal Balances. (d) After the reduction of the Certificate Principal Balances of the Senior Certificates (other than the Class A-P Certificates) to zero but prior to the Credit Support Depletion Date, the Senior Certificates (other than the Class A-P Certificates) will be entitled to no further distributions of principal thereon and the Available Distribution Amount will be distributed solely to the holders of the Class A-P, Class A-V and Subordinate Certificates, in each case as described herein. (e) In addition to the foregoing distributions, with respect to any Subsequent Recoveries, the Master Servicer shall deposit such funds into the Custodial Account pursuant to Section 3.07(b)(iii) of the Standard Terms. If, after taking into account such Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount of such Subsequent Recoveries will be applied to increase the Certificate Principal Balance of the Class of Subordinate Certificates with a Certificate Principal Balance greater than zero with the highest payment priority to which Realized Losses, other than Excess Bankruptcy Losses, Excess Fraud Losses, Excess Special Hazard Losses and Extraordinary Losses, have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Certificates pursuant to Section 4.05. The amount of any remaining Subsequent Recoveries will be applied to increase from zero the Certificate Principal Balance of the Class of Certificates with the next lower payment priority, up to the amount of Realized Losses previously allocated to that Class of Certificates pursuant to Section 4.05. Any remaining Subsequent Recoveries will in turn be applied to increase from zero the Certificate Principal Balance of the Class of Certificates with the next lower payment priority up to the amount of Realized Losses previously allocated to that Class of Certificates pursuant to Section 4.05, and so on. Holders of such Certificates will not be entitled to any payment in respect of Accrued Certificate Interest on the amount of such increases for any Interest Accrual Period preceding the Interest Accrual Period that relates to the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate Principal Balance of each Certificate of such Class in accordance with its respective Percentage Interest. (f) Each distribution with respect to a Book-Entry Certificate shall be paid to the Depository, as Holder thereof, and the Depository shall be solely responsible for crediting the amount of such distribution to the accounts of its Depository Participants in accordance with its normal procedures. Each Depository Participant shall be responsible for disbursing such distribution to the Certificate Owners that it represents and to each indirect participating brokerage firm (a "brokerage firm") for which it acts as agent. Each brokerage firm shall be responsible for disbursing funds to the Certificate Owners that it represents. None of the Trustee, the Certificate Registrar, the Company or the Master Servicer shall have any responsibility therefor. (g) Except as otherwise provided in Section 9.01 of the Standard Terms, if the Master Servicer anticipates that a final distribution with respect to any Class of Certificates will be made on the next Distribution Date, the Master Servicer shall, no later than the Determination Date in the month of such final distribution, notify the Trustee and the Trustee shall, no later than two (2) Business Days after such Determination Date, mail on such date to each Holder of such Class of Certificates a notice to the effect that: (i) the Trustee anticipates that the final distribution with respect to such Class of Certificates will be made on such Distribution Date but only upon presentation and surrender of such Certificates at the office of the Trustee or as otherwise specified therein, and (ii) no interest shall accrue on such Certificates from and after the end of the related Interest Accrual Period. In the event that Certificateholders required to surrender their Certificates pursuant to Section 9.01(c) of the Standard Terms do not surrender their Certificates for final cancellation, the Trustee shall cause funds distributable with respect to such Certificates to be withdrawn from the Certificate Account and credited to a separate escrow account for the benefit of such Certificateholders as provided in Section 9.01(d) of the Standard Terms. Section 4.03 Statements to Certificateholders; Statements to the Rating Agencies; Exchange Act Reporting. (See Section 4.03 of the Standard Terms) Section 4.04 Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer. (See Section 4.04 of the Standard Terms) Section 4.05 Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, if any such Realized Loss is on a Discount Mortgage Loan, to the Class A-P Certificates in an amount equal to the related Discount Fraction of the principal portion of the Realized Loss until the Certificate Principal Balance of the Class A-P Certificates has been reduced to zero, and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on the Non-Discount Mortgage Loans shall be allocated among all Senior Certificates (other than the Class A-P Certificates) on a pro rata basis, as described below; provided, however, that after the Credit Support Depletion Date, such Realized Losses otherwise allocable to the Super Senior Certificates will be allocated to the Senior Support Certificates until the Certificate Principal Balance of the Senior Support Certificates has been reduced to zero. The principal portion of any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses on the Discount Mortgage Loans shall be allocated to the Class A-P Certificates in an amount equal to the related Discount Fraction thereof and the remainder of the principal portion and the entire interest portion of such Realized Losses on the Discount Mortgage Loans and the entire principal and interest portion of such Realized Losses on Non-Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and the Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a "pro rata basis" among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates, on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Subordinate Certificates then outstanding with the Lowest Priority shall be made by operation of the definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount of Accrued Certificate Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 5.01(c) of the Standard Terms, such Realized Losses and other losses allocated to the Class A-V Certificates shall be allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Interest payable on such Distribution Date that would have resulted absent such reductions. Section 4.06 Reports of Foreclosures and Abandonment of Mortgaged Property. (See Section 4.06 of the Standard Terms) Section 4.07 Optional Purchase of Defaulted Mortgage Loans. (See Section 4.07 of the Standard Terms) Section 4.08 Surety Bond. (See Section 4.08 of the Standard Terms) ARTICLE V
THE CERTIFICATES (SEE ARTICLE V OF THE STANDARD TERMS)
ARTICLE VI THE COMPANY AND THE MASTER SERVICER (SEE ARTICLE VI OF THE STANDARD TERMS)
ARTICLE VII DEFAULT (SEE ARTICLE VII OF THE STANDARD TERMS)
ARTICLE VIII CONCERNING THE TRUSTEE (SEE ARTICLE VIII OF THE STANDARD TERMS)
ARTICLE IX TERMINATION (SEE ARTICLE IX OF THE STANDARD TERMS)
ARTICLE X REMIC PROVISIONS Section 10.01 REMIC Administration. (See Section 10.01 of the Standard Terms) Section 10.02 Master Servicer; REMIC Administrator and Trustee Indemnification. (See Section 10.02 of the Standard Terms) Section 10.03 Designation of REMICs. The REMIC Administrator shall make an election to treat the entire segregated pool of assets described in the definition of REMIC I, and subject to this Agreement (including the Mortgage Loans) as a REMIC ("REMIC I") and shall make an election to treat the pool of assets comprised of the Uncertificated REMIC I Regular Interests as a REMIC ("REMIC II") for federal income tax purposes. The Uncertificated REMIC I Regular Interests will be "regular interests" in REMIC I and the Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-P, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z, the rights in and to which will be represented by the Class A-V Certificates, will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section. Section 10.04 Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. (a)On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC I Regular Interest Distribution Amounts in the following order of priority to the extent of the Available Distribution Amount reduced by distributions made to the Class R-I Certificates pursuant to Section 4.02(a): (i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and (ii) In accordance with the priority set forth in Section 10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Certificates (other than the Class R-I Certificates) under Section 4.02(a), as allocated thereto pursuant to Section 4.02(b). (b)The amount described in Section 10.04(a)(ii) shall be deemed distributed to (i) Uncertificated REMIC I Regular Interest V, (ii) Uncertificated REMIC I Regular Interest W, (iii) Uncertificated REMIC I Regular Interest X, and (iv) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to each Related Class of Certificates (other than the Class R-I Certificates), respectively, under Section 4.02(b) until the Uncertificated Principal Balance of each such interest is reduced to zero. (c)The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the Uncertificated REMIC I Regular Interests relative to that assigned to the Certificates under Section 4.02(b). (d)In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts and Uncertificated REMIC II Regular Interest Distribution Amounts: (i) Realized Losses allocated to the Class A-V Certificates under Section 4.05 shall be deemed allocated to the Uncertificated REMIC II Regular Interests Z pro-rata according to the respective amounts of Uncertificated Accrued Interest that would have accrued on such Uncertificated REMIC II Regular Interests Z for the Distribution Date for which such allocation is being made in the absence of such allocation; (ii) Realized Losses allocated to the Class A-1, Class A-3, Class A-4, Class A-5, Class A-6 and Class A-7 Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest V; (iii) Realized Losses allocated to the Class A-8 and Class A-9 Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest W; (iv) Realized Losses allocated to the Class A-P Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest X; (v) Realized Losses allocated to the Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest Y; and (vi) Realized Losses allocated to the Uncertificated REMIC II Regular Interests Z under clause (i), above, shall be deemed allocated, in each case, to the related Uncertificated REMIC I Regular Interest Z. (e)On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the priority set forth in Sections 4.02(a) and (b), to the Holders of each Class of Certificates (other than the Class R-I Certificates) the amounts distributable thereon from the Uncertificated REMIC I Regular Interest Distribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amounts deemed distributed hereunder with respect to the Class A-V Certificates shall be deemed to have been distributed in respect of the Uncertificated REMIC II Regular Interests Z in accordance with their respective Uncertificated REMIC II Regular Interest Distribution Amounts, as such Uncertificated REMIC II Regular Interests Z comprise the Class A-V Certificates. (f)Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests described in this Section 10.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 4.02. Section 10.05 Compliance with Withholding Requirements. Notwithstanding any other provision of this Agreement, the Trustee or any Paying Agent, as applicable, shall comply with all federal withholding requirements respecting payments to Certificateholders, including interest or original issue discount payments or advances thereof that the Trustee or any Paying Agent, as applicable, reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. In the event the Trustee or any Paying Agent, as applicable, does withhold any amount from interest or original issue discount payments or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Trustee or any Paying Agent, as applicable, shall indicate the amount withheld to such Certificateholder pursuant to the terms of such requirements.
ARTICLE XI MISCELLANEOUS PROVISIONS Section 11.01 Amendment. (See Section 11.01 of the Standard Terms) Section 11.02 Recordation of Agreement; Counterparts. (See Section 11.02 of the Standard Terms) Section 11.03 Limitation on Rights of Certificateholders. (See Section 11.03 of the Standard Terms) Section 11.04 Governing Law. (See Section 11.04 of the Standard Terms) Section 11.05 Notices. All demands and notices hereunder shall be in writing and shall be deemed to have been duly given if personally delivered at or mailed by registered mail, postage prepaid (except for notices to the Trustee which shall be deemed to have been duly given only when received), to the appropriate address for each recipient listed in the table below or, in each case, such other address as may hereafter be furnished in writing to the Master Servicer, the Trustee and the Company, as applicable: ---------------------------------- -------------------------------------------------------------- RECIPIENT ADDRESS ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Company 8400 Normandale Lake Boulevard Suite 250, Minneapolis, Minnesota 55437, Attention: President ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Master Servicer 2255 N. Ontario Street, Suite 400 Burbank, California 91504-2130, Attention: Managing Director/Master Servicing ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Trustee Corporate Trust Office 1761 East St. Andrew Place Santa Ana, California 92705-4934, Attention: Residential Accredit Loans, Inc. Series 2006-QS1 The Trustee designates its offices located at DB Services Tennessee, 648 Grassmere Park Road, Nashville, TN 37211-3658, Attn: Transfer Unit, for the purposes of Section 8.12 of the Standard Terms ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Fitch Ratings One State Street Plaza New York, New York 10004 ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Moody's Investors Service, Inc. 99 Church Street, 4th Floor New York, New York 10004 ---------------------------------- -------------------------------------------------------------- ---------------------------------- -------------------------------------------------------------- Standard & Poor's 55 Water Street Ratings Services, a division of New York, New York 10041 The McGraw-Hill Companies, Inc. ---------------------------------- -------------------------------------------------------------- Any notice required or permitted to be mailed to a Certificateholder shall be given by first class mail, postage prepaid, at the address of such holder as shown in the Certificate Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively presumed to have been duly given, whether or not the Certificateholder receives such notice. Section 11.06 Required Notices to Rating Agency and Subservicer. (See Section 11.06 of the Standard Terms) Section 11.07 Severability of Provisions. (See Section 11.07 of the Standard Terms) Section 11.08 Supplemental Provisions for Resecuritization. (See Section 11.08 of the Standard Terms) Section 11.09 Allocation of Voting Rights. Ninety-seven percent of all Voting Rights will be allocated among all Holders of the Certificates, other than the Interest Only Certificates and Class R Certificates, in proportion to their then outstanding Certificate Principal Balances of their respective Certificates, in accordance with each Class's Percentage Interests; 1.0% of all Voting Rights will be allocated among the Holders of the Class A-9 Certificates, in accordance with their respective Percentage Interests; 1.0% of all Voting Rights shall be allocated among the Holders of the Class A-V Certificates, in accordance with their respective Percentage Interests; 0.5% of all Voting Rights shall be allocated among the Holders of the Class R-I Certificates, in accordance with their respective Percentage Interests; and 0.5% of all Voting Rights shall be allocated among the Holders of the Class R-II Certificates, in accordance with their respective Percentage Interests. Section 11.010 No Petition. The Depositor, Master Servicer and the Trustee, by entering into this Agreement, and each Certificateholder, by accepting a Certificate, hereby covenant and agree that they will not at any time institute against the Trust Fund, or join in any institution against the Trust Fund of, any bankruptcy proceedings under any United States federal or state bankruptcy or similar law in connection with any obligation with respect to the Certificates or this Agreement.
IN WITNESS WHEREOF, the Company, the Master Servicer and the Trustee have caused their names to be signed hereto by their respective officers thereunto duly authorized and their respective seals, duly attested, to be hereunto affixed, all as of the day and year first above written. RESIDENTIAL ACCREDIT LOANS, INC. [Seal] By: /s/Heather Anderson Name: Heather Anderson Title: Vice President Attest: __/s/Mark White________ Name: Mark White Title: Vice President RESIDENTIAL FUNDING CORPORATION [Seal] By: /s/Mark White Name: Mark White Title: Associate Attest:__/s/Heather Anderson _____ Name: Heather Anderson Title: Associate DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee [Seal] By: /s/Brent Hoyler Name: Brent Hoyler Title: Associate By: /s/Barbara Campbell Name: Barbara Campbell Title: Vice President Attest:__/s/Eiko Akiyama________ Name: Eiko Akiyama Title: Associate
STATE OF MINNESOTA ) ) ss.: COUNTY OF HENNEPIN ) On the 30th day of January, 2006 before me, a notary public in and for said State, personally appeared Heather Anderson, known to me to be a Vice President of Residential Accredit Loans, Inc., one of the corporations that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. [Notarial Seal] /s/Amy Sue Olson Notary Public
STATE OF MINNESOTA ) ) ss.: COUNTY OF HENNEPIN ) On the 30th day of January, 2006 before me, a notary public in and for said State, personally appeared Mark White, known to me to be an Associate of Residential Funding Corporation, one of the corporations that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. [Notarial Seal] /s/Amy Sue Olson Notary Public
STATE OF CALIFORNIA ) ) ss.: COUNTY OF ORANGE ) On the 30th day of January, 2006 before me, a notary public in and for said State, personally appeared _______________, known to me to be a(n) _________________ of Deutsche Bank Trust Company Americas, the New York banking corporation that executed the within instrument, and also known to me to be the person who executed it on behalf of said banking corporation and acknowledged to me that such banking corporation executed the within instrument. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. /s/Amy Lynn Stoddard Notary Public [Notarial Seal] STATE OF CALIFORNIA ) ) ss.: COUNTY OF ORANGE ) On the 30th day of January, 2006 before me, a notary public in and for said State, personally appeared _______________, known to me to be a(n) _________________ of Deutsche Bank Trust Company Americas, the New York banking corporation that executed the within instrument, and also known to me to be the person who executed it on behalf of said banking corporation and acknowledged to me that such banking corporation executed the within instrument. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. /s/Amy Lynn Stoddard Notary Public [Notarial Seal]
EXHIBIT ONE MORTGAGE LOAN SCHEDULE Fixed Rate Loan Loan Number S/S Code Payment Type Original Bal Loan Feature Orig Term Principal Bal # of Units Orig Rate Original PI LTV Net Curr Current PI City State Zip Loan Purp Note Date MI Co Code Servicer Loan # Prop Type First Pay Date MI Coverage Seller Loan # Occup Code Maturity Date Investor Loan # 8983812 E86/G02 F 229,000.00 ZZ 360 221,496.69 1 6.6250 1466.31 92 6.3750 1466.31 SOUND BEACH NY 11789 1 10/24/03 04 0437215676 05 12/01/03 25.0000 0000415752 O 11/01/33 0 9748275 E82/G02 F 131,200.00 ZZ 360 129,827.00 1 6.3750 818.52 75 6.1250 818.52 ROCHESTER NH 03867 5 01/06/05 00 0401054424 05 03/01/05 0.0000 0401054424 N 02/01/35 0 9872015 E22/G02 F 308,000.00 TX 360 305,675.00 3 7.2500 2101.10 60 7.0000 2101.10 AUSTIN TX 78705 5 03/28/05 00 0423764125 05 05/01/05 0.0000 0423764125 N 04/01/35 0 9873785 E82/G02 F 85,000.00 ZZ 360 84,373.48 1 6.5000 537.26 95 6.2500 537.26 DETROIT MI 48234 2 03/30/05 04 0401098819 05 06/01/05 30.0000 0401098819 O 05/01/35 0 9902685 T08/G02 F 120,000.00 ZZ 360 119,136.87 1 7.2500 818.61 80 7.0000 818.61 ORLANDO FL 32825 5 04/04/05 00 0439201823 05 05/01/05 0.0000 132028238 N 04/01/35 0 9902723 T08/G02 F 192,000.00 ZZ 360 190,302.94 1 6.3750 1197.83 80 6.1250 1197.83 STILLWATER MN 55082 5 03/28/05 00 0439199514 05 05/01/05 0.0000 12156586 O 04/01/35 0 9902739 T08/G02 F 194,310.00 T 360 194,310.00 1 7.2500 1173.96 90 7.0000 1173.96 PONTE VERDA BEFL 32082 1 04/04/05 11 0439203852 01 05/01/05 25.0000 132028501 O 04/01/35 0 9902839 T08/G02 F 359,650.00 ZZ 360 359,650.00 1 6.2500 1873.18 80 6.0000 1873.18 PALMDALE CA 93551 5 03/24/05 00 0439200916 05 05/01/05 0.0000 132313364 O 04/01/35 0 9916811 A11/G02 F 245,000.00 ZZ 360 245,000.00 1 6.2500 1276.05 36 6.0000 1276.04 WOODBURY CT 06798 2 04/15/05 00 0439217290 05 06/01/05 0.0000 4674929940 O 05/01/35 0 9925861 Z51/Z57 F 88,000.00 ZZ 360 87,165.13 1 6.3750 549.01 80 6.1250 549.01 YORK PA 17402 2 02/23/05 00 3892421 01 04/01/05 0.0000 333414158 O 03/01/35 0 9946406 286/286 F 138,400.00 ZZ 360 137,930.90 1 6.8750 909.19 80 6.6250 909.19 WALLED LAKE MI 48390 1 08/17/05 00 0004228247 01 10/01/05 0.0000 0004228247 N 09/01/35 0 9946879 025/025 F 160,000.00 ZZ 360 160,000.00 1 6.5000 866.67 80 6.2500 866.67 ELK RIVER MN 55330 5 03/07/05 00 0201426590 05 05/01/05 0.0000 0201426590 O 04/01/35 0 9949446 286/286 F 179,100.00 ZZ 360 178,576.52 4 7.6250 1267.66 90 6.6472 1267.66 ST LOUIS MO 63118 1 08/05/05 26 0004177432 05 10/01/05 25.0000 0004177432 O 09/01/35 0 9949486 286/286 F 147,250.00 ZZ 360 146,850.77 1 8.0000 1080.47 95 7.0222 1080.47 PHILADELPHIA PA 19146 1 08/16/05 26 0004239470 07 10/01/05 25.0000 0004239470 O 09/01/35 0 9979923 462/G02 F 219,100.00 ZZ 360 214,407.77 1 5.5000 1244.03 80 5.2500 1244.03 TUCSON AZ 85746 1 05/19/05 00 0439462433 03 07/01/05 0.0000 0007419583 O 06/01/35 0 9984603 462/G02 F 430,000.00 ZZ 360 430,000.00 1 5.8750 2105.21 58 5.6250 2105.21 LIVERMORE CA 94550 5 05/19/05 00 0439466939 03 07/01/05 0.0000 0008944688 O 06/01/35 0 9985096 286/286 F 104,000.00 ZZ 360 103,688.33 1 7.5000 727.19 80 7.2500 727.19 KANSAS CITY MO 64157 1 08/24/05 00 0004228908 09 10/01/05 0.0000 0004228908 O 09/01/35 0 9985246 286/286 F 149,625.00 ZZ 360 149,198.45 1 7.7500 1071.94 95 7.0313 1071.94 BALTIMORE MD 21234 1 09/02/05 26 0004188499 07 10/01/05 30.0000 0004188499 O 09/01/35 0 9986220 286/286 F 141,850.00 ZZ 360 141,369.17 1 6.8750 931.86 85 6.6250 931.86 HOMESTEAD FL 33033 1 08/23/05 10 0004238461 09 10/01/05 25.0000 0004238461 N 09/01/35 0 9986312 286/286 F 42,500.00 ZZ 360 42,375.75 2 7.6250 300.82 85 7.3750 300.82 BINGHAMTON NY 13901 1 08/31/05 11 0004269020 05 10/01/05 20.0000 0004269020 N 09/01/35 0 9986318 286/286 F 88,000.00 ZZ 360 87,729.65 2 7.3750 607.80 74 7.1250 607.80 COVINGTON KY 41014 5 08/26/05 00 0004269716 05 10/01/05 0.0000 0004269716 O 09/01/35 0 10009139 E22/U57 F 162,000.00 ZZ 360 161,006.64 1 6.5000 1023.95 47 6.2500 1023.95 JACKSON WY 83001 5 06/27/05 00 0424603967 05 08/01/05 0.0000 0424603967 O 07/01/35 0 10013671 T08/G02 F 125,000.00 ZZ 360 124,296.04 1 6.3750 779.84 45 6.1250 779.84 COMPTON CA 90222 5 06/13/05 00 0439548553 05 08/01/05 0.0000 45010255 O 07/01/35 0 10013677 T08/G02 F 182,000.00 ZZ 360 180,863.30 1 6.7500 1180.45 80 6.5000 1180.45 HIGHLAND CA 92346 1 06/06/05 00 0439543828 05 08/01/05 0.0000 45080024 O 07/01/35 0 10013745 T08/G02 F 199,280.00 ZZ 360 199,280.00 1 6.8750 1141.71 80 6.6250 1141.71 VALRICO FL 33594 1 06/16/05 00 0439543976 05 08/01/05 0.0000 11290186 O 07/01/35 0 10050608 286/286 F 157,600.00 ZZ 360 157,190.61 1 6.7500 1022.20 80 6.5000 1022.20 RICHMOND VA 23238 1 09/26/05 00 0004295992 07 11/01/05 0.0000 0004295992 O 10/01/35 0 10050626 286/286 F 143,920.00 ZZ 360 143,581.15 1 7.2500 981.79 80 7.0000 981.79 PEORIA IL 61615 1 09/16/05 00 0004322443 07 11/01/05 0.0000 0004322443 O 10/01/35 0 10050648 286/286 F 108,720.00 ZZ 360 108,468.25 1 7.3750 750.91 80 7.1250 750.91 SAINT CHARLES MO 63303 1 09/28/05 00 0004346736 09 11/01/05 0.0000 0004346736 O 10/01/35 0 10050748 286/286 F 121,600.00 ZZ 360 121,383.04 1 8.6250 945.80 95 7.8850 945.80 MCDONOUGH GA 30252 1 09/23/05 36 0004282089 05 11/01/05 30.0000 0004282089 O 10/01/35 0 10050762 286/286 F 41,250.00 ZZ 360 41,060.91 1 8.2500 309.90 95 7.6070 309.90 WHEELERSBURG OH 45694 1 09/30/05 36 0004303859 05 11/01/05 30.0000 0004303859 O 10/01/35 0 10050794 286/286 F 178,125.00 ZZ 360 177,764.04 1 8.0000 1307.02 95 7.0310 1307.02 AUSTIN TX 78731 1 09/26/05 36 0004329146 03 11/01/05 30.0000 0004329146 O 10/01/35 0 10051590 286/286 F 260,000.00 ZZ 360 259,238.00 3 6.1250 1579.79 79 5.8750 1579.79 TAMARAC FL 33309 5 09/08/05 00 0004316100 05 11/01/05 0.0000 0004316100 O 10/01/35 0 10051624 286/286 F 209,200.00 ZZ 360 208,880.64 2 7.3750 1444.90 80 7.1250 1444.90 CHICAGO IL 60608 1 10/06/05 00 0004321327 05 12/01/05 0.0000 0004321327 O 11/01/35 0 10051834 286/286 F 378,000.00 ZZ 360 376,969.28 2 6.5000 2389.22 79 6.2500 2389.22 CHICAGO IL 60641 1 09/30/05 00 0004337727 05 11/01/05 0.0000 0004337727 O 10/01/35 0 10052568 286/286 F 81,180.00 ZZ 360 81,010.04 2 7.8750 588.62 90 7.4150 588.62 NORTH ADAMS MA 01247 1 09/23/05 36 0004298803 05 11/01/05 25.0000 0004298803 O 10/01/35 0 10052586 286/286 F 206,900.00 ZZ 360 206,576.21 2 7.2500 1411.43 90 6.9350 1411.43 PITTSFIELD MA 01201 1 10/04/05 36 0004322064 05 12/01/05 25.0000 0004322064 O 11/01/35 0 10066569 L49/G02 F 232,500.00 ZZ 360 231,331.07 1 6.0000 1393.96 95 5.7500 1393.96 BOYNTON BEACH FL 33426 1 07/14/05 10 0439727611 09 09/01/05 30.0000 10025863 O 08/01/35 0 10068581 588/G02 F 120,000.00 ZZ 360 118,871.58 1 5.9990 719.38 80 5.7490 719.38 HADDON TOWNSHINJ 08108 1 06/30/05 00 0439779281 07 08/01/05 0.0000 1153817 O 07/01/35 0 10068647 588/G02 F 140,000.00 ZZ 360 139,998.69 1 6.2500 729.17 80 6.0000 729.17 DOVER TOWNSHIPNJ 08753 1 06/30/05 00 0439777715 01 08/01/05 0.0000 1155142 O 07/01/35 0 10068659 588/G02 F 496,800.00 ZZ 360 496,800.00 1 6.1250 2535.75 80 5.8750 2535.75 FAIRFAX VA 22032 1 06/24/05 00 0439796384 05 08/01/05 0.0000 1155392 O 07/01/35 0 10072569 E22/U57 F 281,000.00 T 360 279,527.83 1 6.7500 1822.56 67 6.5000 1822.56 MIRAMAR FL 33027 1 06/29/05 00 0424744001 05 08/01/05 0.0000 0424744001 O 07/01/35 0 10073169 T08/G02 F 218,800.00 ZZ 360 217,288.42 1 6.1250 1329.45 80 5.8750 1329.45 POPLAR GROVE IL 61065 1 05/27/05 00 0439826413 05 07/01/05 0.0000 1390001001 O 06/01/35 0 10073201 T08/G02 F 132,000.00 ZZ 360 131,503.74 1 7.5000 922.96 100 6.6000 922.96 LARGO FL 33774 1 07/22/05 26 0439826157 05 09/01/05 35.0000 14040378 O 08/01/35 0 10079359 588/G02 F 114,000.00 ZZ 360 113,310.48 1 6.0000 683.49 80 5.7500 683.49 YEADON BOROUGHPA 19050 1 06/27/05 00 0439811027 05 08/01/05 0.0000 1150766 O 07/01/35 0 10123025 E22/G02 F 91,580.00 ZZ 360 91,312.31 1 7.6250 648.20 95 7.3750 648.20 GROVE OK 74344 1 08/25/05 10 0425144102 05 10/01/05 35.0000 0425144102 O 09/01/35 0 10125651 E86/G02 F 174,900.00 ZZ 360 17,939.31 1 6.5000 1105.49 50 6.2500 1105.49 HARRISBURG PA 17110 1 07/15/05 00 0439932419 03 09/01/05 0.0000 885901 O 08/01/35 0 10127682 286/286 F 288,000.00 ZZ 360 287,484.46 1 6.6250 1844.10 75 6.3750 1844.10 KETTERING OH 45429 1 10/14/05 00 0001777019 09 12/01/05 0.0000 0001777019 O 11/01/35 0 10127684 286/286 F 407,407.96 T 360 406,688.71 1 6.8750 2676.39 80 6.6250 2676.39 BULLHEAD CITY AZ 86429 1 10/05/05 00 0003572650 03 12/01/05 0.0000 0003572650 O 11/01/35 0 10127688 286/286 F 276,800.00 ZZ 360 275,928.69 1 7.3750 1911.79 100 7.1250 1911.79 DENHAM SPRINGSLA 70706 2 08/08/05 10 0003781738 05 10/01/05 35.0000 0003781738 O 09/01/35 0 10127690 286/286 F 160,000.00 ZZ 360 159,736.92 2 7.0000 1064.49 80 6.7500 1064.49 FARMVILLE VA 23901 1 10/06/05 00 0003785425 05 12/01/05 0.0000 0003785425 N 11/01/35 0 10127694 286/286 F 168,000.00 ZZ 360 167,702.72 1 6.6250 1075.73 80 6.3750 1075.73 MARION IN 46952 2 10/28/05 00 0003956456 05 12/01/05 0.0000 0003956456 O 11/01/35 0 10127696 286/286 F 283,000.00 ZZ 360 282,461.56 1 6.2500 1742.48 76 6.0000 1742.48 SPARKS NV 89436 1 10/12/05 00 0004021633 03 12/01/05 0.0000 0004021633 O 11/01/35 0 10127702 286/286 F 400,000.00 ZZ 360 399,274.82 1 6.5000 2528.28 77 6.2500 2528.28 STAFFORD VA 22554 1 11/02/05 00 0004098803 03 12/01/05 0.0000 0004098803 O 11/01/35 0 10127706 286/286 F 55,800.00 ZZ 360 55,697.39 1 6.7500 361.92 90 6.5000 361.92 BALTIMORE MD 21229 1 10/20/05 01 0004150766 05 12/01/05 25.0000 0004150766 N 11/01/35 0 10127708 286/286 F 47,700.00 ZZ 360 47,635.77 1 8.0000 350.01 90 7.7500 350.01 CHARLOTTE NC 28226 2 10/14/05 11 0004157220 01 12/01/05 25.0000 0004157220 N 11/01/35 0 10127710 286/286 F 132,800.00 ZZ 360 132,228.96 1 6.1250 806.91 80 5.8750 806.91 NORFOLK VA 23503 5 08/03/05 00 0004210299 05 10/01/05 0.0000 0004210299 O 09/01/35 0 10127716 286/286 F 260,000.00 ZZ 360 259,528.63 1 6.5000 1643.38 80 6.2500 1643.38 QUEEN CREEK AZ 85242 5 10/18/05 00 0004256271 03 12/01/05 0.0000 0004256271 O 11/01/35 0 10127722 286/286 F 194,750.00 ZZ 360 194,137.07 1 5.7500 1136.51 95 5.5000 1136.51 BREMERTON WA 98312 5 09/01/05 11 0004279110 05 11/01/05 25.0000 0004279110 O 10/01/35 0 10127728 286/286 F 60,000.00 ZZ 360 59,891.21 1 6.5000 379.25 80 6.2500 379.25 MARCUS HOOK PA 19061 1 10/31/05 00 0004292231 05 12/01/05 0.0000 0004292231 O 11/01/35 0 10127730 286/286 F 208,000.00 ZZ 360 207,640.81 1 6.7500 1349.09 80 6.5000 1349.09 WESTFIELD MA 01085 1 10/14/05 00 0004294980 05 12/01/05 0.0000 0004294980 O 11/01/35 0 10127732 286/286 F 114,400.00 ZZ 360 114,202.45 1 6.7500 742.00 80 6.5000 742.00 CONNEAUT LAKE PA 16316 1 10/14/05 00 0004295633 05 12/01/05 0.0000 0004295633 O 11/01/35 0 10127734 286/286 F 100,000.00 ZZ 360 99,814.27 1 6.3750 623.87 18 6.1250 623.87 RIVA MD 21140 5 10/06/05 00 0004303136 03 12/01/05 0.0000 0004303136 O 11/01/35 0 10127736 286/286 F 215,000.00 ZZ 360 214,541.46 1 6.5000 1358.95 69 6.2500 1358.95 CAPITAL HEIGHTMD 20743 5 10/12/05 00 0004303282 05 12/01/05 0.0000 0004303282 O 11/01/35 0 10127740 286/286 F 160,000.00 ZZ 360 159,709.93 1 6.5000 1011.31 80 6.2500 1011.31 OXON HILL MD 20745 1 10/20/05 00 0004305962 05 12/01/05 0.0000 0004305962 N 11/01/35 0 10127744 286/286 F 94,000.00 ZZ 360 93,724.50 1 6.1250 571.16 80 5.8750 571.16 CHESTERFIELD MO 63017 1 09/29/05 00 0004308242 01 11/01/05 0.0000 0004308242 O 10/01/35 0 10127748 286/286 F 161,200.00 ZZ 360 160,914.75 1 6.6250 1032.19 69 6.3750 1032.19 GARDNERVILLE NV 89460 5 10/03/05 00 0004311680 03 12/01/05 0.0000 0004311680 N 11/01/35 0 10127750 286/286 F 337,896.00 ZZ 360 337,326.62 1 6.8750 2219.74 80 6.6250 2219.74 KING GEORGE VA 22485 1 11/01/05 00 0004311823 05 12/01/05 0.0000 0004311823 O 11/01/35 0 10127752 286/286 F 191,900.00 ZZ 360 191,567.94 1 6.7500 1244.66 80 6.5000 1244.66 CHICOPEE MA 01013 1 10/18/05 00 0004311843 05 12/01/05 0.0000 0004311843 O 11/01/35 0 10127760 286/286 F 140,000.00 ZZ 360 139,720.43 1 6.0000 839.38 80 5.7500 839.38 BULLHEAD CITY AZ 86442 1 10/14/05 00 0004319643 05 12/01/05 0.0000 0004319643 O 11/01/35 0 10127764 286/286 F 188,000.00 ZZ 360 187,667.34 1 6.6250 1203.79 80 6.3750 1203.79 RINDGE NH 03461 1 10/28/05 00 0004322777 05 12/01/05 0.0000 0004322777 O 11/01/35 0 10127766 286/286 F 105,366.00 ZZ 360 105,057.19 1 6.1250 640.22 80 5.8750 640.22 MCKINNEY TX 75070 1 09/29/05 00 0004323706 03 11/01/05 0.0000 0004323706 O 10/01/35 0 10127768 286/286 F 244,000.00 ZZ 360 243,568.25 1 6.6250 1562.36 80 6.3750 1562.36 ESCONDIDO CA 92025 1 10/19/05 00 0004325112 01 12/01/05 0.0000 0004325112 O 11/01/35 0 10127776 286/286 F 76,800.00 ZZ 360 76,644.32 1 6.7500 498.13 76 6.5000 498.13 DETROIT MI 48205 5 10/17/05 00 0004329526 05 12/01/05 0.0000 0004329526 O 11/01/35 0 10127782 286/286 F 211,375.00 ZZ 360 211,018.56 1 6.8750 1388.59 95 6.6250 1388.59 CHARLEMONT MA 01339 1 10/28/05 01 0004332347 05 12/01/05 30.0000 0004332347 O 11/01/35 0 10127784 286/286 F 61,840.00 ZZ 360 61,786.75 1 6.7500 401.10 80 6.5000 401.10 HAGERSTOWN MD 21740 1 11/01/05 00 0004332666 05 01/01/06 0.0000 0004332666 N 12/01/35 0 10127786 286/286 F 61,840.00 ZZ 360 61,786.75 1 6.7500 401.10 80 6.5000 401.10 HAGERSTOWN MD 21740 1 11/01/05 00 0004332669 05 01/01/06 0.0000 0004332669 N 12/01/35 0 10127788 286/286 F 441,000.00 ZZ 360 440,200.48 1 6.5000 2787.43 70 6.2500 2787.43 WASHINGTON DC 20002 1 10/20/05 00 0004332979 07 12/01/05 0.0000 0004332979 N 11/01/35 0 10127790 286/286 F 327,500.00 ZZ 360 326,948.12 1 6.8750 2151.45 77 6.6250 2151.45 MUNDELEIN IL 60060 5 10/21/05 00 0004335159 05 12/01/05 0.0000 0004335159 O 11/01/35 0 10127792 286/286 F 60,000.00 ZZ 360 59,912.86 2 7.6250 424.68 75 7.3750 424.68 COVINGTON KY 41014 5 10/12/05 00 0004336931 05 12/01/05 0.0000 0004336931 N 11/01/35 0 10127794 286/286 F 248,000.00 ZZ 360 247,539.38 1 6.3750 1547.20 78 6.1250 1547.20 WALLINGFORD CT 06492 1 10/28/05 00 0004336979 05 12/01/05 0.0000 0004336979 O 11/01/35 0 10127796 286/286 F 157,500.00 T 360 157,221.31 1 6.6250 1008.49 50 6.3750 1008.49 GLOUCESTER MA 01938 1 10/14/05 00 0004337106 05 12/01/05 0.0000 0004337106 O 11/01/35 0 10127800 286/286 F 424,000.00 ZZ 360 423,193.27 1 6.2500 2610.65 80 6.0000 2610.65 ELMHURST IL 60126 1 10/14/05 00 0004337652 05 12/01/05 0.0000 0004337652 O 11/01/35 0 10127802 286/286 F 18,900.00 ZZ 360 18,870.41 1 7.2500 128.94 90 7.0000 128.94 BALTIMORE MD 21205 1 10/13/05 01 0004337982 05 12/01/05 25.0000 0004337982 N 11/01/35 0 10127804 286/286 F 42,300.00 ZZ 360 42,223.31 1 6.5000 267.37 90 6.2500 267.37 BALTIMORE MD 21215 1 10/24/05 01 0004340514 07 12/01/05 25.0000 0004340514 N 11/01/35 0 10127808 286/286 F 150,400.00 ZZ 240 149,775.73 1 6.3750 1110.31 80 6.1250 1110.31 GLEN ALLEN VA 23059 5 10/12/05 00 0004340697 05 12/01/05 0.0000 0004340697 O 11/01/25 0 10127810 286/286 F 67,500.00 ZZ 360 66,876.42 1 7.6250 477.77 75 7.3750 477.77 LOVES PARK IL 61111 5 10/05/05 00 0004340953 05 12/01/05 0.0000 0004340953 O 11/01/35 0 10127814 286/286 F 304,000.00 ZZ 240 302,738.20 1 6.3750 2244.23 95 6.1250 2244.23 PORT ORCHARD WA 98366 2 10/21/05 01 0004342983 05 12/01/05 30.0000 0004342983 O 11/01/25 0 10127816 286/286 F 88,000.00 ZZ 360 87,858.82 1 7.1250 592.88 80 6.8750 592.88 NORFOLK VA 23509 1 10/17/05 00 0004343258 05 12/01/05 0.0000 0004343258 N 11/01/35 0 10127818 286/286 F 94,500.00 ZZ 360 94,348.39 1 7.1250 636.67 70 6.8750 636.67 NORFOLK VA 23509 5 10/17/05 00 0004343260 05 12/01/05 0.0000 0004343260 N 11/01/35 0 10127824 286/286 F 422,000.00 ZZ 360 421,216.20 1 6.3750 2632.74 40 6.1250 2632.74 LAGUNA NIGUEL CA 92677 5 10/13/05 00 0004345263 03 12/01/05 0.0000 0004345263 N 11/01/35 0 10127826 286/286 F 134,372.00 ZZ 360 134,116.32 1 6.2500 827.36 80 6.0000 827.36 PASCO WA 99301 1 10/19/05 00 0004345282 05 12/01/05 0.0000 0004345282 O 11/01/35 0 10127828 286/286 F 134,000.00 ZZ 360 133,800.48 3 7.5000 936.95 69 7.2500 936.95 NORFOLK VA 23523 2 10/24/05 00 0004345520 05 12/01/05 0.0000 0004345520 N 11/01/35 0 10127832 286/286 F 160,000.00 ZZ 360 159,702.81 3 6.3750 998.20 80 6.1250 998.20 TORRINGTON CT 06790 1 10/12/05 00 0004345898 05 12/01/05 0.0000 0004345898 N 11/01/35 0 10127836 286/286 F 600,000.00 ZZ 360 598,858.41 1 6.2500 3694.31 80 6.0000 3694.31 NORCO CA 92860 5 10/13/05 00 0004346287 05 12/01/05 0.0000 0004346287 O 11/01/35 0 10127990 286/286 F 51,200.00 ZZ 360 51,102.58 1 6.2500 315.25 80 6.0000 315.25 SPRING TX 77381 1 10/13/05 00 0004348092 01 12/01/05 0.0000 0004348092 N 11/01/35 0 10127994 286/286 F 64,000.00 ZZ 360 63,889.47 2 6.7500 415.11 80 6.5000 415.11 DEARBORN MI 48126 1 10/27/05 00 0004349001 05 12/01/05 0.0000 0004349001 O 11/01/35 0 10128000 286/286 F 299,950.00 ZZ 360 299,456.82 4 7.0000 1995.58 75 6.7500 1995.58 LEOMINSTER MA 01453 1 10/27/05 00 0004350086 05 12/01/05 0.0000 0004350086 N 11/01/35 0 10128002 286/286 F 96,850.00 ZZ 360 96,323.33 1 6.0000 580.67 90 5.7500 580.67 WEBSTER TX 77598 1 09/09/05 10 0004350443 03 11/01/05 25.0000 0004350443 N 10/01/35 0 10128008 286/286 F 272,000.00 ZZ 360 271,469.89 1 6.1250 1652.71 80 5.8750 1652.71 WAYNE NJ 07470 1 10/14/05 00 0004351841 05 12/01/05 0.0000 0004351841 O 11/01/35 0 10128010 286/286 F 65,000.00 ZZ 360 64,950.54 1 7.3750 448.94 68 7.1250 448.94 BALTIMORE MD 21218 5 11/04/05 00 0004352080 07 01/01/06 0.0000 0004352080 N 12/01/35 0 10128012 286/286 F 39,600.00 ZZ 360 39,538.01 2 7.2500 270.15 90 7.0000 270.15 BLOOMINGTON IL 61701 1 10/14/05 01 0004352180 05 12/01/05 25.0000 0004352180 N 11/01/35 0 10128014 286/286 F 448,000.00 ZZ 360 447,147.61 1 6.2500 2758.42 60 6.0000 2758.42 STATELINE NV 89449 1 10/07/05 00 0004353079 09 12/01/05 0.0000 0004353079 N 11/01/35 0 10128018 286/286 F 288,000.00 ZZ 360 287,720.08 1 6.1250 1749.92 80 5.8750 1749.92 LIVINGSTON CA 95334 1 11/02/05 00 0004353899 05 01/01/06 0.0000 0004353899 O 12/01/35 0 10128022 286/286 F 52,500.00 ZZ 360 52,423.74 1 7.6250 371.60 75 7.3750 371.60 INDIANAPOLIS IN 46208 5 10/14/05 00 0004354191 05 12/01/05 0.0000 0004354191 N 11/01/35 0 10128024 286/286 F 525,000.00 ZZ 360 521,062.76 1 6.6250 3361.64 75 6.3750 3361.64 NORTH BERGEN NJ 07047 5 10/20/05 00 0004354302 05 12/01/05 0.0000 0004354302 O 11/01/35 0 10128026 286/286 F 88,000.00 ZZ 360 87,848.03 1 6.7500 570.77 80 6.5000 570.77 WASHINGTON DC 20020 5 10/12/05 00 0004354391 01 12/01/05 0.0000 0004354391 N 11/01/35 0 10128028 286/286 F 49,500.00 ZZ 360 49,426.29 1 7.5000 346.12 90 7.2500 346.12 BALTIMORE MD 21224 1 10/27/05 01 0004356729 05 12/01/05 25.0000 0004356729 N 11/01/35 0 10128032 286/286 F 88,650.00 ZZ 360 88,493.13 1 6.6250 567.64 90 6.3750 567.64 CHAMPAIGN IL 61821 1 10/12/05 01 0004356923 05 12/01/05 25.0000 0004356923 N 11/01/35 0 10128036 286/286 F 76,500.00 ZZ 360 76,383.22 1 7.3750 528.37 85 7.1250 528.37 BALTIMORE MD 21224 1 10/31/05 01 0004358370 07 12/01/05 25.0000 0004358370 N 11/01/35 0 10128042 286/286 F 88,000.00 ZZ 360 87,855.30 1 7.0000 585.47 80 6.7500 585.47 BALTIMORE MD 21218 1 10/24/05 00 0004359011 08 12/01/05 0.0000 0004359011 N 11/01/35 0 10128044 286/286 F 52,800.00 ZZ 360 52,711.03 4 6.8750 346.86 80 6.6250 346.86 DAYTON OH 45405 1 10/25/05 00 0004359046 05 12/01/05 0.0000 0004359046 N 11/01/35 0 10128046 286/286 F 63,600.00 ZZ 360 63,487.96 1 6.7500 412.51 80 6.5000 412.51 BALTIMORE MD 21223 1 10/20/05 00 0004359055 07 12/01/05 0.0000 0004359055 O 11/01/35 0 10128052 286/286 F 311,800.00 ZZ 360 311,206.76 1 6.2500 1919.81 80 6.0000 1919.81 SHREVEPORT LA 71106 1 10/27/05 00 0004359875 03 12/01/05 0.0000 0004359875 O 11/01/35 0 10128056 286/286 F 369,000.00 ZZ 360 368,362.81 2 6.7500 2393.33 90 6.5000 2393.33 NORWALK CT 06850 1 10/26/05 10 0004361598 05 12/01/05 25.0000 0004361598 O 11/01/35 0 10128060 286/286 F 55,250.00 ZZ 360 55,149.83 1 6.5000 349.22 85 6.2500 349.22 BALTIMORE MD 21217 1 10/24/05 01 0004361928 07 12/01/05 20.0000 0004361928 N 11/01/35 0 10128062 286/286 F 127,800.00 ZZ 360 127,568.29 3 6.5000 807.79 90 6.2500 807.79 NORFOLK VA 23517 1 10/24/05 01 0004361985 05 12/01/05 25.0000 0004361985 N 11/01/35 0 10128064 286/286 F 51,000.00 ZZ 360 50,907.53 1 6.5000 322.36 85 6.2500 322.36 BALTIMORE MD 21217 1 10/28/05 01 0004362038 07 12/01/05 20.0000 0004362038 N 11/01/35 0 10128066 286/286 F 279,200.00 ZZ 360 278,681.43 1 6.3750 1741.85 80 6.1250 1741.85 RICHLAND WA 99352 1 10/13/05 00 0004362131 03 12/01/05 0.0000 0004362131 O 11/01/35 0 10128068 286/286 F 54,400.00 ZZ 360 54,308.33 1 6.8750 357.37 80 6.6250 357.37 BALTIMORE MD 21216 5 10/19/05 00 0004362342 05 12/01/05 0.0000 0004362342 N 11/01/35 0 10128070 286/286 F 148,000.00 ZZ 360 147,779.63 1 7.5000 1034.84 80 7.2500 1034.84 INDIANAPOLIS IN 46217 2 10/26/05 00 0004362537 05 12/01/05 0.0000 0004362537 N 11/01/35 0 10128072 286/286 F 39,500.00 ZZ 360 39,411.51 1 7.5000 276.19 79 7.2500 276.19 LUBBOCK TX 79404 2 09/29/05 00 0004363397 05 11/01/05 0.0000 0004363397 N 10/01/35 0 10128074 286/286 F 224,000.00 T 360 223,583.96 1 6.3750 1397.47 80 6.1250 1397.47 MARYSVILLE CA 95901 1 10/11/05 00 0004364481 05 12/01/05 0.0000 0004364481 O 11/01/35 0 10128076 286/286 F 46,550.00 ZZ 360 46,473.46 1 7.0000 309.70 95 6.7500 309.70 SHELBY OH 44875 1 10/17/05 01 0004364726 05 12/01/05 30.0000 0004364726 O 11/01/35 0 10128078 286/286 F 270,000.00 ZZ 360 269,522.25 1 6.6250 1728.84 90 6.3750 1728.84 CANFIELD OH 44406 1 10/17/05 01 0004365055 05 12/01/05 25.0000 0004365055 O 11/01/35 0 10128084 286/286 F 210,000.00 ZZ 360 209,597.96 1 6.6250 1344.66 84 6.3750 1344.66 DOVER FL 33527 5 10/12/05 01 0004365195 05 12/01/05 12.0000 0004365195 O 11/01/35 0 10128090 286/286 F 40,500.00 ZZ 360 40,431.75 1 6.8750 266.06 90 6.6250 266.06 BALTIMORE MD 21213 5 10/25/05 01 0004367007 05 12/01/05 25.0000 0004367007 N 11/01/35 0 10128094 286/286 F 54,000.00 ZZ 360 53,953.50 1 6.7500 350.25 90 6.5000 350.25 URBANA IL 61801 1 11/02/05 01 0004367090 05 01/01/06 25.0000 0004367090 N 12/01/35 0 10128098 286/286 F 40,000.00 ZZ 360 39,910.37 1 7.5000 279.69 80 7.2500 279.69 LUBBOCK TX 79404 2 09/29/05 00 0004367599 05 11/01/05 0.0000 0004367599 N 10/01/35 0 10128100 286/286 F 188,000.00 ZZ 360 187,675.35 1 6.7500 1219.37 80 6.5000 1219.37 GLENDALE AZ 85308 1 10/25/05 00 0004368343 05 12/01/05 0.0000 0004368343 O 11/01/35 0 10128102 286/286 F 79,325.00 ZZ 360 79,196.64 1 7.1250 534.43 95 6.8750 534.43 ROCKFORD IL 61108 1 10/14/05 01 0004369345 05 12/01/05 30.0000 0004369345 O 11/01/35 0 10128104 286/286 F 117,900.00 ZZ 360 117,710.86 1 7.1250 794.32 90 6.8750 794.32 NORFOLK VA 23502 1 10/31/05 10 0004369512 05 12/01/05 25.0000 0004369512 N 11/01/35 0 10128106 286/286 F 50,000.00 ZZ 360 49,887.36 1 6.1250 303.81 17 5.8750 303.81 SEATTLE WA 98125 1 10/19/05 00 0004369580 01 12/01/05 0.0000 0004369580 O 11/01/35 0 10128112 286/286 F 145,600.00 ZZ 360 145,336.02 1 6.5000 920.30 80 6.2500 920.30 NORWOOD OH 45212 1 10/18/05 00 0004371497 05 12/01/05 0.0000 0004371497 O 11/01/35 0 10128114 286/286 F 144,400.00 ZZ 360 144,125.25 1 6.2500 889.10 80 6.0000 889.10 CENTERVILLE OH 45458 1 10/11/05 00 0004371697 01 12/01/05 0.0000 0004371697 O 11/01/35 0 10128116 286/286 F 305,400.00 ZZ 360 304,859.61 1 6.6250 1955.51 61 6.3750 1955.51 VIRGINIA BEACHVA 23455 1 10/28/05 00 0004371874 05 12/01/05 0.0000 0004371874 O 11/01/35 0 10128120 286/286 F 67,200.00 ZZ 360 67,086.76 1 6.8750 441.46 80 6.6250 441.46 BALTIMORE MD 21213 5 10/19/05 00 0004372434 07 12/01/05 0.0000 0004372434 N 11/01/35 0 10128122 286/286 F 106,250.00 ZZ 360 106,070.95 1 6.8750 697.99 85 6.6250 697.99 OCEAN SHORES WA 98569 1 10/10/05 01 0004372870 03 12/01/05 20.0000 0004372870 N 11/01/35 0 10128124 286/286 F 98,800.00 ZZ 360 98,612.02 2 6.2500 608.33 80 6.0000 608.33 LAKEWOOD OH 44107 1 10/27/05 00 0004373915 05 12/01/05 0.0000 0004373915 O 11/01/35 0 10128128 286/286 F 65,000.00 ZZ 360 64,863.93 1 5.7500 379.33 21 5.5000 379.33 PORT ORCHARD WA 98366 1 10/12/05 00 0004374322 05 12/01/05 0.0000 0004374322 O 11/01/35 0 10128130 286/286 F 396,000.00 ZZ 360 395,146.02 1 6.2500 2438.25 80 6.0000 2438.25 GIG HARBOR WA 98335 2 10/18/05 00 0004374548 05 12/01/05 0.0000 0004374548 O 11/01/35 0 10128132 286/286 F 596,000.00 ZZ 360 594,798.70 1 6.1250 3621.36 80 5.8750 3621.36 PACIFIC GROVE CA 93950 1 10/25/05 00 0004374658 05 12/01/05 0.0000 0004374658 O 11/01/35 0 10128134 286/286 F 37,600.00 ZZ 360 37,539.68 1 7.1250 253.32 80 6.8750 253.32 DAYTON KY 41074 1 10/14/05 00 0004376441 05 12/01/05 0.0000 0004376441 O 11/01/35 0 10128138 286/286 F 45,050.00 ZZ 360 44,877.71 1 7.1250 303.52 85 6.8750 303.52 GREENSBORO NC 27409 1 10/27/05 01 0004376572 01 12/01/05 20.0000 0004376572 N 11/01/35 0 10128142 286/286 F 157,500.00 ZZ 360 157,287.77 1 8.0000 1155.68 90 7.7500 1155.68 BALTIMORE MD 21231 1 10/20/05 01 0004376803 05 12/01/05 25.0000 0004376803 N 11/01/35 0 10128144 286/286 F 45,050.00 ZZ 360 44,877.71 1 7.1250 303.52 85 6.8750 303.52 GREENSBORO NC 27409 1 10/27/05 01 0004377024 01 12/01/05 20.0000 0004377024 N 11/01/35 0 10128146 286/286 F 149,400.00 ZZ 360 149,089.65 4 6.8750 981.46 90 6.6250 981.46 TURNERS FALLS MA 01376 1 10/25/05 11 0004377204 05 12/01/05 25.0000 0004377204 N 11/01/35 0 10128290 286/286 F 210,889.00 ZZ 360 210,487.74 1 6.2500 1298.49 74 6.0000 1298.49 FALLS CHURCH VA 22041 2 10/27/05 00 0004377234 08 12/01/05 0.0000 0004377234 O 11/01/35 0 10128294 286/286 F 480,000.00 ZZ 360 479,337.15 2 7.8750 3480.34 80 7.6250 3480.34 TEMPLE CITY CA 91780 1 10/12/05 00 0004377501 05 12/01/05 0.0000 0004377501 N 11/01/35 0 10128298 286/286 F 155,800.00 ZZ 360 155,524.32 1 6.6250 997.61 95 6.3750 997.61 ALBUQUERQUE NM 87110 1 10/25/05 11 0004378456 05 12/01/05 30.0000 0004378456 O 11/01/35 0 10128300 286/286 F 63,750.00 ZZ 360 63,655.08 1 7.5000 445.75 75 7.2500 445.75 KANSAS CITY MO 64128 5 10/18/05 00 0004378541 05 12/01/05 0.0000 0004378541 N 11/01/35 0 10128306 286/286 F 55,900.00 ZZ 360 55,805.39 1 6.8750 367.23 80 6.6250 367.23 KANSAS CITY KS 66112 1 10/31/05 00 0004378987 05 12/01/05 0.0000 0004378987 N 11/01/35 0 10128310 286/286 F 40,500.00 ZZ 360 40,435.03 1 7.1250 272.86 90 6.8750 272.86 HARRISBURG PA 17103 1 10/31/05 01 0004379086 05 12/01/05 25.0000 0004379086 N 11/01/35 0 10128316 286/286 F 148,000.00 ZZ 360 147,744.42 1 6.7500 959.93 79 6.5000 959.93 ROCHESTER HILLMI 48306 2 10/26/05 00 0004380929 01 12/01/05 0.0000 0004380929 O 11/01/35 0 10128318 286/286 F 110,800.00 ZZ 360 110,563.90 1 6.5000 700.34 80 6.2500 700.34 WESTON OH 43569 1 10/24/05 00 0004381487 05 12/01/05 0.0000 0004381487 O 11/01/35 0 10128322 286/286 F 125,200.00 ZZ 360 124,973.02 1 6.5000 791.35 80 6.2500 791.35 DAYTON OH 45402 1 10/26/05 00 0004381825 05 12/01/05 0.0000 0004381825 O 11/01/35 0 10128324 286/286 F 47,685.00 ZZ 360 47,610.37 1 7.2500 325.30 85 7.0000 325.30 CHESTER PA 19013 1 11/01/05 01 0004381999 05 12/01/05 20.0000 0004381999 N 11/01/35 0 10128328 286/286 F 192,000.00 ZZ 360 191,643.38 1 6.3750 1197.84 80 6.1250 1197.84 CITRUS HEIGHTSCA 95621 1 10/21/05 00 0004383549 01 12/01/05 0.0000 0004383549 O 11/01/35 0 10128334 286/286 F 264,800.00 ZZ 360 264,308.18 1 6.3750 1652.01 80 6.1250 1652.01 CULVER CITY CA 90230 1 10/26/05 00 0004384221 01 12/01/05 0.0000 0004384221 O 11/01/35 0 10128336 286/286 F 448,000.00 ZZ 360 447,298.93 1 7.2500 3056.15 80 7.0000 3056.15 GARDEN GROVE CA 92844 2 10/27/05 00 0004384526 05 12/01/05 0.0000 0004384526 O 11/01/35 0 10128338 286/286 F 61,200.00 ZZ 360 61,106.56 1 7.3750 422.70 90 7.1250 422.70 MADISON OH 44057 1 11/01/05 01 0004384798 05 12/01/05 25.0000 0004384798 N 11/01/35 0 10128344 286/286 F 112,000.00 ZZ 360 111,811.26 4 6.8750 735.77 80 6.6250 735.77 HUBER HEIGHTS OH 45424 1 10/25/05 00 0004385609 05 12/01/05 0.0000 0004385609 N 11/01/35 0 10128346 286/286 F 276,250.00 ZZ 360 275,703.37 1 7.0000 1837.90 85 6.7500 1837.90 KISSIMMEE FL 34746 1 10/13/05 01 0004385622 03 12/01/05 12.0000 0004385622 O 11/01/35 0 10128348 286/286 F 141,600.00 ZZ 360 141,468.85 1 6.3750 883.40 80 6.1250 883.40 ROANOKE VA 24018 1 11/04/05 00 0004385846 01 01/01/06 0.0000 0004385846 O 12/01/35 0 10128350 286/286 F 128,000.00 ZZ 360 127,784.31 1 6.8750 840.87 80 6.6250 840.87 NORFOLK VA 23503 1 10/14/05 00 0004386011 01 12/01/05 0.0000 0004386011 N 11/01/35 0 10128354 286/286 F 114,400.00 ZZ 360 114,225.35 1 7.3750 790.14 80 7.1250 790.14 SWANTON VT 05488 5 10/25/05 00 0004387893 05 12/01/05 0.0000 0004387893 O 11/01/35 0 10128358 286/286 F 138,400.00 ZZ 360 138,130.27 1 6.1250 840.94 80 5.8750 840.94 AURORA IL 60502 1 10/14/05 00 0004388070 01 12/01/05 0.0000 0004388070 O 11/01/35 0 10128360 286/286 F 80,000.00 ZZ 360 77,398.60 1 6.2500 492.58 59 6.0000 492.58 BAY CITY MI 48706 1 10/28/05 00 0004388399 05 12/01/05 0.0000 0004388399 O 11/01/35 0 10128362 286/286 F 90,000.00 ZZ 360 89,155.25 1 6.7500 583.74 79 6.5000 583.74 NEWPORT NEWS VA 23607 2 10/25/05 00 0004388491 05 12/01/05 0.0000 0004388491 N 11/01/35 0 10128364 286/286 F 500,000.00 ZZ 360 499,048.69 1 6.2500 3078.59 80 6.0000 3078.59 ADAMSTOWN MD 21710 5 10/24/05 00 0004388763 03 12/01/05 0.0000 0004388763 O 11/01/35 0 10128366 286/286 F 280,000.00 ZZ 360 279,528.17 1 6.8750 1839.41 67 6.6250 1839.41 MANASSAS VA 20110 5 10/24/05 00 0004390326 05 12/01/05 0.0000 0004390326 O 11/01/35 0 10128370 286/286 F 165,560.00 ZZ 360 165,259.83 1 6.5000 1046.46 80 6.2500 1046.46 MIDLOTHIAN VA 23114 1 10/28/05 00 0004390494 05 12/01/05 0.0000 0004390494 O 11/01/35 0 10128372 286/286 F 95,200.00 ZZ 360 95,132.80 1 7.7500 682.03 85 7.5000 682.03 SPRINGFIELD MA 01108 1 11/03/05 01 0004390667 05 01/01/06 20.0000 0004390667 N 12/01/35 0 10128374 286/286 F 137,842.00 ZZ 360 137,578.45 1 6.2500 848.72 79 6.0000 848.72 BELLEVILLE IL 62221 1 10/27/05 00 0004390767 05 12/01/05 0.0000 0004390767 O 11/01/35 0 10128376 286/286 F 111,200.00 ZZ 360 111,011.77 1 6.8750 730.51 80 6.6250 730.51 SUFFOLK VA 23438 1 10/21/05 00 0004390854 05 12/01/05 0.0000 0004390854 O 11/01/35 0 10128378 286/286 F 157,200.00 ZZ 360 156,914.98 1 6.5000 993.62 80 6.2500 993.62 PLANO IL 60545 2 10/26/05 00 0004391393 05 12/01/05 0.0000 0004391393 O 11/01/35 0 10128380 286/286 F 76,000.00 ZZ 360 75,943.59 2 7.5000 531.41 90 7.2500 531.41 COLUMBUS OH 43211 2 11/02/05 01 0004392062 05 01/01/06 25.0000 0004392062 N 12/01/35 0 10128382 286/286 F 38,250.00 ZZ 360 38,185.54 1 6.8750 251.28 85 6.6250 251.28 PAYETTE ID 83661 1 10/21/05 01 0004392404 05 12/01/05 20.0000 0004392404 N 11/01/35 0 10128384 286/286 F 24,000.00 ZZ 360 23,957.31 1 6.8750 157.67 71 6.6250 157.67 FAYETTEVILLE NC 28303 1 10/31/05 00 0004392686 05 12/01/05 0.0000 0004392686 O 11/01/35 0 10128388 286/286 F 293,760.00 ZZ 360 293,115.72 1 6.5000 1856.77 80 6.2500 1856.77 REVERE MA 02151 1 10/28/05 00 0004393410 05 12/01/05 0.0000 0004393410 O 11/01/35 0 10128390 286/286 F 260,000.00 ZZ 360 259,561.87 1 6.8750 1708.02 80 6.6250 1708.02 BLOOMINGDALE IL 60108 1 10/19/05 00 0004393705 05 12/01/05 0.0000 0004393705 O 11/01/35 0 10128396 286/286 F 37,000.00 ZZ 360 36,936.10 1 6.7500 239.99 79 6.5000 239.99 PRAIRIE CITY OR 97869 1 10/21/05 00 0004394368 05 12/01/05 0.0000 0004394368 O 11/01/35 0 10128404 286/286 F 40,000.00 ZZ 360 39,908.10 1 6.1250 243.05 53 5.8750 243.05 SAN ANTONIO TX 78237 1 10/21/05 00 0004397116 05 12/01/05 0.0000 0004397116 N 11/01/35 0 10128410 286/286 F 210,250.00 ZZ 360 209,868.81 1 6.5000 1328.93 80 6.2500 1328.93 SOUTH BRUNSWICNJ 08810 1 10/21/05 00 0004397994 03 12/01/05 0.0000 0004397994 O 11/01/35 0 10128412 286/286 F 208,000.00 ZZ 360 207,649.50 4 6.8750 1366.42 80 6.6250 1366.42 REXBURG ID 83440 1 10/26/05 00 0004398073 05 12/01/05 0.0000 0004398073 N 11/01/35 0 10128414 286/286 F 85,000.00 ZZ 360 84,811.97 1 6.2500 523.36 42 6.0000 523.36 DALLAS TX 75229 1 10/19/05 00 0004398634 05 12/01/05 0.0000 0004398634 O 11/01/35 0 10128418 286/286 F 479,825.00 ZZ 360 478,975.97 1 6.6250 3072.38 85 6.3750 3072.38 ROCKVILLE MD 20852 1 10/27/05 01 0004399840 09 12/01/05 12.0000 0004399840 O 11/01/35 0 10128420 286/286 F 50,000.00 ZZ 360 49,915.74 1 6.8750 328.47 80 6.6250 328.47 PONTIAC MI 48340 1 11/04/05 00 0004400865 05 12/01/05 0.0000 0004400865 N 11/01/35 0 10128422 286/286 F 50,000.00 ZZ 360 49,915.74 1 6.8750 328.47 80 6.6250 328.47 PONTIAC MI 48340 1 11/04/05 00 0004400868 05 12/01/05 0.0000 0004400868 N 11/01/35 0 10128428 286/286 F 275,900.00 ZZ 360 275,411.81 1 6.6250 1766.62 80 6.3750 1766.62 BURTONSVILLE MD 20866 1 10/31/05 00 0004402235 09 12/01/05 0.0000 0004402235 O 11/01/35 0 10128432 286/286 F 48,750.00 TX 360 48,679.21 1 7.6250 345.05 75 7.3750 345.05 DALLAS TX 75216 5 10/13/05 00 0004403201 05 12/01/05 0.0000 0004403201 N 11/01/35 0 10128440 286/286 F 58,000.00 ZZ 360 57,953.62 1 7.1250 390.76 80 6.8750 390.76 MECHANICSBURG PA 17055 1 11/04/05 00 0004406100 05 01/01/06 0.0000 0004406100 N 12/01/35 0 10128446 286/286 F 96,800.00 ZZ 360 96,666.32 1 7.8750 701.87 80 7.6250 701.87 FELTON DE 19943 1 11/01/05 00 0004409222 05 12/01/05 0.0000 0004409222 N 11/01/35 0 10128448 286/286 F 320,000.00 ZZ 360 319,405.65 1 6.3750 1996.39 80 6.1250 1996.39 EAST GREENWICHRI 02818 1 11/01/05 00 0004411316 05 12/01/05 0.0000 0004411316 O 11/01/35 0 10128452 286/286 F 40,500.00 ZZ 360 40,430.05 1 6.7500 262.69 75 6.5000 262.69 SHREVEPORT LA 71107 5 10/28/05 00 0004415345 05 12/01/05 0.0000 0004415345 N 11/01/35 0 10128454 286/286 F 68,400.00 ZZ 360 68,342.54 1 6.8750 449.34 80 6.6250 449.34 DENVER CO 80204 1 11/02/05 00 0004416468 05 01/01/06 0.0000 0004416468 N 12/01/35 0 10128456 286/286 F 180,000.00 ZZ 360 179,309.46 1 6.6250 1152.56 80 6.3750 1152.56 VIRGINIA BEACHVA 23462 1 11/03/05 00 0004417543 05 12/01/05 0.0000 0004417543 O 11/01/35 0 10128458 286/286 F 246,400.00 ZZ 360 246,177.25 1 6.5000 1557.42 80 6.2500 1557.42 ALEXANDRIA VA 22307 1 11/04/05 00 0004422624 01 01/01/06 0.0000 0004422624 O 12/01/35 0 10128460 286/286 F 92,000.00 ZZ 360 91,833.19 1 6.5000 581.51 80 6.2500 581.51 SALISBURY PA 15558 1 11/01/05 00 0004422975 05 12/01/05 0.0000 0004422975 O 11/01/35 0 10128630 286/286 F 49,410.00 ZZ 360 49,324.66 2 6.7500 320.48 90 6.0954 320.48 ROCHESTER NY 14611 1 10/13/05 36 0004197101 05 12/01/05 25.0000 0004197101 N 11/01/35 0 10128632 286/286 F 68,242.00 ZZ 360 67,914.85 1 6.2500 420.18 90 5.5954 420.18 GLENCOE AL 35905 1 08/04/05 36 0004220464 05 09/01/05 25.0000 0004220464 N 08/01/35 0 10128634 286/286 F 237,650.00 ZZ 360 236,619.71 1 6.3750 1482.63 97 5.7204 1482.63 VIRGINIA BEACHVA 23456 1 09/01/05 36 0004224890 05 10/01/05 25.0000 0004224890 O 09/01/35 0 10128636 286/286 F 44,100.00 ZZ 360 44,035.96 1 7.6250 312.14 90 6.9704 312.14 LUBBOCK TX 79413 1 10/18/05 36 0004236007 05 12/01/05 25.0000 0004236007 N 11/01/35 0 10128638 286/286 F 44,100.00 ZZ 360 44,035.96 1 7.6250 312.14 90 6.9704 312.14 LUBBOCK TX 79413 1 10/18/05 36 0004236008 05 12/01/05 25.0000 0004236008 N 11/01/35 0 10128640 286/286 F 53,350.00 ZZ 360 53,170.58 1 7.0000 354.94 97 6.3454 354.94 INDIANAPOLIS IN 46241 1 09/02/05 36 0004252873 05 10/01/05 35.0000 0004252873 O 09/01/35 0 10128642 286/286 F 73,100.00 ZZ 360 72,988.40 1 7.3750 504.89 85 6.7204 504.89 BLOOMINGTON IL 61701 2 10/24/05 36 0004257144 05 12/01/05 12.0000 0004257144 N 11/01/35 0 10128644 286/286 F 176,500.00 ZZ 360 176,063.43 1 7.0000 1174.26 97 6.3454 1174.26 INDIANAPOLIS IN 46235 1 09/13/05 36 0004299079 01 11/01/05 35.0000 0004299079 O 10/01/35 0 10128646 286/286 F 177,750.00 ZZ 360 177,504.52 1 7.8750 1288.82 90 7.2204 1288.82 WARWICK RI 02889 1 10/11/05 36 0004311445 01 12/01/05 25.0000 0004311445 O 11/01/35 0 10128648 286/286 F 80,550.00 ZZ 360 80,427.04 2 7.3750 556.34 90 6.7204 556.34 WESTFIR OR 97492 1 10/03/05 36 0004315797 05 12/01/05 25.0000 0004315797 N 11/01/35 0 10128654 286/286 F 160,000.00 ZZ 360 159,604.23 1 7.0000 1064.49 97 6.3454 1064.49 FORT WAYNE IN 46825 1 09/28/05 36 0004319727 05 11/01/05 35.0000 0004319727 O 10/01/35 0 10128656 286/286 F 122,400.00 ZZ 360 122,178.42 2 6.6250 783.75 90 5.9704 783.75 TROY NY 12180 1 10/06/05 36 0004330628 05 12/01/05 25.0000 0004330628 N 11/01/35 0 10128658 286/286 F 120,510.00 ZZ 360 120,303.12 1 7.0000 801.76 90 6.3454 801.76 ATHENS OH 45701 1 10/13/05 36 0004333921 05 12/01/05 25.0000 0004333921 N 11/01/35 0 10128660 286/286 F 85,500.00 ZZ 360 85,348.70 1 6.6250 547.47 90 5.9704 547.47 HOPEWELL VA 23860 1 10/06/05 36 0004337435 05 12/01/05 25.0000 0004337435 N 11/01/35 0 10128662 286/286 F 130,450.00 ZZ 360 130,142.86 1 7.2500 889.90 90 6.5954 889.90 HOMESTEAD FL 33033 1 10/05/05 36 0004338609 01 11/01/05 25.0000 0004338609 N 10/01/35 0 10128668 286/286 F 305,000.00 ZZ 360 304,486.05 1 6.8750 2003.64 85 6.2204 2003.64 HEDGESVILLE WV 25427 5 10/13/05 36 0004354574 03 12/01/05 12.0000 0004354574 O 11/01/35 0 10128670 286/286 F 238,500.00 ZZ 360 238,077.98 2 6.6250 1527.15 90 5.9704 1527.15 CICERO IL 60804 1 10/06/05 36 0004354769 05 12/01/05 25.0000 0004354769 N 11/01/35 0 10128676 286/286 F 164,700.00 ZZ 360 164,435.79 1 7.1250 1109.62 90 6.4704 1109.62 MERIDIAN ID 83642 1 10/06/05 36 0004361978 05 12/01/05 25.0000 0004361978 N 11/01/35 0 10128678 286/286 F 185,000.00 ZZ 360 184,672.64 1 6.6250 1184.58 96 5.9704 1184.58 GOSHEN IN 46528 1 10/27/05 36 0004381283 05 12/01/05 35.0000 0004381283 O 11/01/35 0 10128680 286/286 F 154,000.00 ZZ 360 153,781.90 1 7.7500 1103.28 87 7.0954 1103.28 MCKINNEY TX 75070 2 10/18/05 36 0004382896 03 12/01/05 25.0000 0004382896 N 11/01/35 0 10128682 286/286 F 488,300.00 ZZ 360 487,659.00 1 8.1250 3625.62 95 7.4704 3625.62 GILBERT AZ 85234 1 10/18/05 36 0004390462 03 12/01/05 30.0000 0004390462 O 11/01/35 0 10128684 286/286 F 100,800.00 ZZ 360 100,649.91 1 7.5000 704.81 90 6.8454 704.81 SPOKANE WA 99202 1 10/25/05 36 0004395840 05 12/01/05 25.0000 0004395840 N 11/01/35 0 10128686 286/286 F 140,000.00 ZZ 360 139,775.42 1 7.1250 943.21 83 6.4704 943.21 FRANKLIN OH 45005 2 10/31/05 36 0004403592 05 12/01/05 12.0000 0004403592 N 11/01/35 0 10128688 286/286 F 158,750.00 ZZ 360 158,525.18 1 7.7500 1137.31 90 7.0954 1137.31 ROUND ROCK TX 78664 1 11/01/05 36 0004411647 03 12/01/05 25.0000 0004411647 N 11/01/35 0 10128776 286/286 F 147,781.00 ZZ 360 146,860.96 1 7.5000 1033.31 76 7.2500 1033.31 BARDSTOWN KY 40004 2 10/24/05 00 0004055761 05 12/01/05 0.0000 0004055761 O 11/01/35 0 10128782 286/286 F 316,000.00 ZZ 360 315,465.29 1 6.8750 2075.90 69 6.6250 2075.90 GAITHERSBURG MD 20882 5 10/14/05 00 0004270612 03 12/01/05 0.0000 0004270612 O 11/01/35 0 10128792 286/286 F 500,000.00 T 360 499,360.13 1 8.2500 3756.34 80 8.0000 3756.34 SCOTTSDALE AZ 85259 1 10/25/05 00 0004320009 01 12/01/05 0.0000 0004320009 O 11/01/35 0 10128800 286/286 F 90,000.00 ZZ 360 89,865.98 1 7.5000 629.30 55 7.2500 629.30 MAGNOLIA TX 77354 1 10/17/05 00 0004335861 05 12/01/05 0.0000 0004335861 O 11/01/35 0 10128804 286/286 F 231,000.00 T 360 230,610.75 1 6.8750 1517.51 60 6.6250 1517.51 SPARKS NV 89436 5 10/22/05 00 0004337585 05 12/01/05 0.0000 0004337585 O 11/01/35 0 10128806 286/286 F 399,000.00 ZZ 360 398,359.95 1 7.1250 2688.14 76 6.8750 2688.14 CHESAPEAKE VA 23322 1 10/24/05 00 0004338025 05 12/01/05 0.0000 0004338025 O 11/01/35 0 10128814 286/286 F 65,000.00 ZZ 360 64,900.78 1 7.3750 448.94 49 7.1250 448.94 CENTERVILLE OH 45458 1 10/18/05 00 0004351672 01 12/01/05 0.0000 0004351672 O 11/01/35 0 10128822 286/286 F 500,000.00 ZZ 360 499,217.53 1 7.2500 3410.89 39 7.0000 3410.89 VIRGINIA BEACHVA 23451 5 10/07/05 00 0004361527 05 12/01/05 0.0000 0004361527 O 11/01/35 0 10128830 286/286 F 235,000.00 ZZ 360 234,658.74 1 7.6250 1663.32 67 7.3750 1663.32 MIAMI FL 33173 2 10/07/05 00 0004366503 05 12/01/05 0.0000 0004366503 O 11/01/35 0 10128832 286/286 F 127,750.00 ZZ 360 127,536.59 1 7.0000 849.93 80 6.7500 849.93 STUARTS DRAFT VA 24477 1 10/19/05 00 0004366811 05 12/01/05 0.0000 0004366811 O 11/01/35 0 10128834 286/286 F 200,000.00 ZZ 360 199,687.00 1 7.2500 1364.36 55 7.0000 1364.36 SMITHSBURG MD 21783 1 10/17/05 00 0004366968 05 12/01/05 0.0000 0004366968 O 11/01/35 0 10128836 286/286 F 100,750.00 ZZ 360 100,675.23 1 7.5000 704.46 65 7.2500 704.46 NEWPORT NEWS VA 23608 1 11/02/05 00 0004369062 05 01/01/06 0.0000 0004369062 N 12/01/35 0 10128838 286/286 F 109,500.00 ZZ 360 109,303.36 1 6.6250 701.15 61 6.3750 701.15 JONESBORO GA 30236 2 10/14/05 00 0004369604 05 12/01/05 0.0000 0004369604 O 11/01/35 0 10128848 286/286 F 47,400.00 TX 360 47,339.33 1 8.2500 356.11 60 8.0000 356.11 TOMBALL TX 77375 5 10/21/05 00 0004376997 05 12/01/05 0.0000 0004376997 N 11/01/35 0 10128850 286/286 F 48,000.00 TX 360 47,938.57 1 8.2500 360.61 60 8.0000 360.61 TOMBALL TX 77375 5 10/21/05 00 0004377017 05 12/01/05 0.0000 0004377017 N 11/01/35 0 10128852 286/286 F 240,000.00 ZZ 360 239,660.13 1 7.7500 1719.39 80 7.5000 1719.39 ATLANTA GA 30309 1 11/01/05 00 0004378118 05 12/01/05 0.0000 0004378118 O 11/01/35 0 10128854 286/286 F 69,200.00 ZZ 360 69,074.45 1 7.0000 460.39 80 6.7500 460.39 KNOXVILLE TN 37912 1 10/31/05 00 0004378800 05 12/01/05 0.0000 0004378800 O 11/01/35 0 10128864 286/286 F 60,000.00 ZZ 360 59,957.50 1 7.7500 429.85 57 7.5000 429.85 CHAMPAIGN IL 61821 5 10/27/05 00 0004386440 05 01/01/06 0.0000 0004386440 O 12/01/35 0 10128872 286/286 F 57,000.00 ZZ 360 56,796.39 1 6.5000 360.28 55 6.2500 360.28 BETHLEHEM PA 18018 1 10/27/05 00 0004390259 05 12/01/05 0.0000 0004390259 O 11/01/35 0 10128874 286/286 F 40,000.00 ZZ 360 39,944.76 1 7.8750 290.03 62 7.6250 290.03 DETROIT MI 48209 5 10/26/05 00 0004394927 05 12/01/05 0.0000 0004394927 O 11/01/35 0 10128878 286/286 F 650,000.00 ZZ 360 649,146.72 1 8.1250 4826.24 75 7.8750 4826.24 ST GEORGE UT 84790 1 10/31/05 00 0004400234 03 12/01/05 0.0000 0004400234 O 11/01/35 0 10128880 286/286 F 60,000.00 ZZ 360 59,912.86 1 7.6250 424.68 38 7.3750 424.68 COLORADO SPRINCO 80909 5 10/25/05 00 0004403191 05 12/01/05 0.0000 0004403191 O 11/01/35 0 10128882 286/286 F 61,200.00 T 360 61,108.14 1 7.8750 443.75 80 7.6250 443.75 HOT SPRINGS VIAR 71909 1 10/21/05 00 0004411904 03 12/01/05 0.0000 0004411904 O 11/01/35 0 10128886 286/286 F 415,150.00 ZZ 360 414,580.19 1 8.1250 3082.48 95 7.3154 3082.48 CLOVIS CA 93612 1 10/21/05 36 0003900771 05 12/01/05 30.0000 0003900771 O 11/01/35 0 10128888 286/286 F 373,450.00 T 360 373,051.00 1 9.1250 3038.52 90 8.3154 3038.52 LAND O LAKES FL 33609 1 10/28/05 36 0003986580 03 12/01/05 25.0000 0003986580 O 11/01/35 0 10128890 286/286 F 102,600.00 ZZ 360 102,429.43 1 7.2500 699.92 95 6.4404 699.92 FORT WAYNE IN 46807 1 10/17/05 36 0004150875 05 12/01/05 30.0000 0004150875 O 11/01/35 0 10128892 286/286 F 101,650.00 ZZ 360 101,526.38 1 8.5000 781.61 95 7.6904 781.61 PHOENIX AZ 85029 1 10/20/05 36 0004245066 05 12/01/05 30.0000 0004245066 O 11/01/35 0 10128896 286/286 F 70,200.00 ZZ 360 70,112.41 1 8.3750 533.58 90 7.5654 533.58 CELINA OH 45822 5 10/07/05 36 0004259318 05 12/01/05 25.0000 0004259318 O 11/01/35 0 10128898 286/286 F 182,400.00 ZZ 360 182,135.16 1 8.5000 1402.50 95 7.6904 1402.50 PHOENIX AZ 85041 1 10/03/05 36 0004276647 05 12/01/05 30.0000 0004276647 O 11/01/35 0 10128900 286/286 F 244,150.00 ZZ 360 243,812.88 1 8.0000 1791.49 95 7.1904 1791.49 ANDERSON CA 96007 1 10/06/05 36 0004292329 05 12/01/05 30.0000 0004292329 O 11/01/35 0 10128904 286/286 F 526,700.00 ZZ 360 526,008.56 1 8.1250 3910.74 90 7.3154 3910.74 FREDERICK MD 21702 1 10/21/05 36 0004317864 09 12/01/05 25.0000 0004317864 O 11/01/35 0 10128910 286/286 F 98,100.00 ZZ 360 97,974.45 1 8.2500 737.00 90 7.4404 737.00 FAIRFIELD IA 52556 5 10/20/05 36 0004335296 05 12/01/05 25.0000 0004335296 O 11/01/35 0 10128912 286/286 F 368,125.00 ZZ 360 367,653.89 1 8.2500 2765.61 95 7.4404 2765.61 ORLANDO FL 32826 1 10/07/05 36 0004336935 05 12/01/05 25.0000 0004336935 O 11/01/35 0 10128914 286/286 F 94,500.00 ZZ 360 94,385.08 1 8.5000 726.63 90 7.6904 726.63 CENTRALIA WA 98532 1 09/29/05 36 0004337393 05 12/01/05 25.0000 0004337393 O 11/01/35 0 10128916 286/286 F 88,400.00 ZZ 360 88,265.05 1 7.3750 610.56 85 6.5654 610.56 SUMRALL MS 39482 1 10/14/05 36 0004340547 05 12/01/05 12.0000 0004340547 O 11/01/35 0 10128918 286/286 F 266,000.00 ZZ 360 265,658.47 1 8.2500 1998.37 95 7.4404 1998.37 EGG HARBOR TOWNJ 08234 1 10/13/05 36 0004340563 05 12/01/05 30.0000 0004340563 O 11/01/35 0 10128922 286/286 F 304,950.00 ZZ 360 304,495.94 1 7.5000 2132.26 95 6.6904 2132.26 BURLINGTON VT 05401 1 10/06/05 36 0004345443 05 12/01/05 30.0000 0004345443 O 11/01/35 0 10128924 286/286 F 220,875.00 ZZ 360 220,546.11 1 7.5000 1544.40 95 6.6904 1544.40 SAINT GEORGE UT 84790 1 10/07/05 36 0004349256 05 12/01/05 30.0000 0004349256 O 11/01/35 0 10128930 286/286 F 231,371.00 ZZ 360 231,059.47 1 8.0000 1697.72 95 7.1904 1697.72 OLYMPIA WA 98503 1 10/17/05 36 0004356249 03 12/01/05 30.0000 0004356249 O 11/01/35 0 10128932 286/286 F 103,550.00 ZZ 360 103,159.29 1 8.0000 759.82 95 7.1904 759.82 MARENGO OH 43334 1 10/28/05 36 0004359076 05 12/01/05 30.0000 0004359076 O 11/01/35 0 10128934 286/286 F 351,500.00 ZZ 360 350,971.88 1 8.5000 2702.74 95 7.6904 2702.74 WHITE LAKE MI 48383 1 10/14/05 36 0004359295 05 12/01/05 30.0000 0004359295 O 11/01/35 0 10128936 286/286 F 84,330.00 ZZ 360 84,219.29 1 8.1250 626.15 90 7.3154 626.15 WASHINGTON IL 61571 1 10/25/05 36 0004359349 05 12/01/05 25.0000 0004359349 O 11/01/35 0 10128940 286/286 F 285,000.00 ZZ 360 284,644.47 2 8.3750 2166.21 95 7.5654 2166.21 AYER MA 01432 1 10/06/05 36 0004361663 05 12/01/05 30.0000 0004361663 O 11/01/35 0 10128944 286/286 F 489,250.00 ZZ 360 488,655.12 1 8.5000 3761.91 95 7.6904 3761.91 SPRINGFIELD TWMI 48348 1 10/31/05 36 0004364270 01 12/01/05 30.0000 0004364270 O 11/01/35 0 10128946 286/286 F 298,200.00 ZZ 360 297,808.54 1 8.1250 2214.13 95 7.3154 2214.13 DUPONT WA 98327 1 10/24/05 36 0004364279 03 12/01/05 30.0000 0004364279 O 11/01/35 0 10128948 286/286 F 109,250.00 ZZ 360 109,102.89 1 8.0000 801.64 95 7.1904 801.64 NEPTUNE NJ 07753 1 10/13/05 36 0004369231 05 12/01/05 30.0000 0004369231 O 11/01/35 0 10128950 286/286 F 182,700.00 ZZ 360 182,472.07 1 8.3750 1388.66 90 7.5654 1388.66 PEORIA AZ 85345 5 10/10/05 36 0004369865 05 12/01/05 25.0000 0004369865 O 11/01/35 0 10128952 286/286 F 113,900.00 ZZ 360 113,744.89 1 8.8750 906.24 95 8.0654 906.24 ALLENTOWN PA 18103 1 10/12/05 36 0004372084 05 12/01/05 30.0000 0004372084 O 11/01/35 0 10128956 286/286 F 194,750.00 ZZ 360 194,487.77 1 8.0000 1429.01 95 7.1904 1429.01 VIRGINIA BEACHVA 23454 1 10/31/05 36 0004374082 05 12/01/05 30.0000 0004374082 O 11/01/35 0 10128958 286/286 F 55,950.00 ZZ 360 55,883.68 1 8.6250 435.18 95 7.8154 435.18 FARMINGTON IL 61531 1 10/24/05 36 0004376381 05 12/01/05 30.0000 0004376381 O 11/01/35 0 10128960 286/286 F 235,800.00 ZZ 360 235,457.58 1 7.6250 1668.98 90 6.8154 1668.98 NORTH PORT FL 34288 1 10/27/05 36 0004376647 05 12/01/05 25.0000 0004376647 O 11/01/35 0 10128962 286/286 F 388,000.00 ZZ 360 387,515.97 1 8.3750 2949.09 95 7.5654 2949.09 WASHINGTON DC 20016 1 10/05/05 36 0004380023 01 12/01/05 30.0000 0004380023 O 11/01/35 0 10128964 286/286 F 399,000.00 ZZ 360 398,405.91 1 7.5000 2789.87 95 6.6904 2789.87 ROCKVILLE MD 20853 1 10/27/05 36 0004380931 05 12/01/05 30.0000 0004380931 O 11/01/35 0 10128968 286/286 F 223,250.00 ZZ 360 222,949.40 1 8.0000 1638.13 95 7.1904 1638.13 VIRGINIA CITY NV 89440 1 10/19/05 36 0004381270 05 12/01/05 30.0000 0004381270 O 11/01/35 0 10128972 286/286 F 495,000.00 ZZ 360 494,428.34 1 8.7500 3894.17 90 7.9404 3894.17 PROVO UT 84604 1 10/27/05 36 0004381986 03 12/01/05 25.0000 0004381986 O 11/01/35 0 10128974 286/286 F 460,750.00 ZZ 360 460,097.52 1 7.7500 3300.87 95 6.9404 3300.87 TRUMBULL CT 06611 1 10/13/05 36 0004387816 05 12/01/05 25.0000 0004387816 O 11/01/35 0 10128976 286/286 F 641,250.00 ZZ 360 640,490.08 1 8.6250 4987.58 90 7.8154 4987.58 REHOBOTH DE 19971 1 10/27/05 36 0004390381 01 12/01/05 25.0000 0004390381 O 11/01/35 0 10128978 286/286 F 192,900.00 ZZ 360 192,640.26 1 8.0000 1415.44 95 7.1904 1415.44 PRESCOTT VALLEAZ 86314 1 10/10/05 36 0004391089 05 12/01/05 30.0000 0004391089 O 11/01/35 0 10128980 286/286 F 81,900.00 T 360 81,795.18 1 8.2500 615.29 90 7.4404 615.29 AUBURN AL 36830 2 10/20/05 36 0004392619 05 12/01/05 25.0000 0004392619 O 11/01/35 0 10136913 E22/G02 F 58,300.00 ZZ 360 58,102.39 1 6.8750 382.99 100 6.6250 382.99 LYONS KS 67554 1 08/31/05 10 0425166105 05 10/01/05 35.0000 0425166105 O 09/01/35 0 10165678 286/286 F 345,500.00 ZZ 360 345,179.99 1 6.3750 2155.48 80 6.1250 2155.48 BRIDGEWATER MA 02324 1 11/10/05 00 0003820229 05 01/01/06 0.0000 0003820229 O 12/01/35 0 10165680 286/286 F 146,740.00 ZZ 360 146,002.22 1 6.0000 879.79 80 5.7500 879.79 ALBUQUERQUE NM 87114 1 07/29/05 00 0004148098 03 09/01/05 0.0000 0004148098 N 08/01/35 0 10165682 286/286 F 100,500.00 ZZ 360 99,960.55 2 6.6250 643.52 78 6.3750 643.52 HAMMOND LA 70403 2 06/28/05 00 0004202040 05 08/01/05 0.0000 0004202040 N 07/01/35 0 10165684 286/286 F 63,900.00 ZZ 360 63,778.41 1 6.2500 393.45 90 6.0000 393.45 SPOKANE VALLEYWA 99212 1 10/03/05 01 0004267579 05 12/01/05 25.0000 0004267579 N 11/01/35 0 10165686 286/286 F 123,922.00 ZZ 360 123,341.95 1 6.3750 773.12 80 6.1250 773.12 FOX LAKE IL 60020 1 07/06/05 00 0004285246 01 09/01/05 0.0000 0004285246 O 08/01/35 0 10165690 286/286 F 148,000.00 ZZ 360 147,738.10 1 6.6250 947.67 80 6.3750 947.67 TROY OH 45373 1 10/31/05 00 0004335326 05 12/01/05 0.0000 0004335326 O 11/01/35 0 10165692 286/286 F 64,800.00 ZZ 360 64,667.54 1 5.8750 383.32 90 5.6250 383.32 CLARKSTON WA 99403 5 10/17/05 01 0004336885 05 12/01/05 30.0000 0004336885 O 11/01/35 0 10165694 286/286 F 285,000.00 ZZ 360 284,729.57 1 6.2500 1754.80 75 6.0000 1754.80 SANTA ANA CA 92701 5 10/27/05 00 0004339716 01 01/01/06 0.0000 0004339716 N 12/01/35 0 10165696 286/286 F 171,350.00 ZZ 360 170,859.68 1 6.2500 1055.04 80 6.0000 1055.04 ALBUQUERQUE NM 87114 1 09/28/05 00 0004339798 03 11/01/05 0.0000 0004339798 N 10/01/35 0 10165698 286/286 F 344,000.00 ZZ 360 343,681.38 1 6.3750 2146.12 80 6.1250 2146.12 ARLINGTON HEIGIL 60005 2 11/04/05 00 0004340326 05 01/01/06 0.0000 0004340326 O 12/01/35 0 10165700 286/286 F 66,405.00 ZZ 360 66,284.60 1 6.5000 419.73 95 6.2500 419.73 WAYNESBORO PA 17268 1 10/31/05 01 0004345350 05 12/01/05 35.0000 0004345350 O 11/01/35 0 10165702 286/286 F 206,622.00 ZZ 360 205,793.01 1 6.0000 1238.81 80 5.7500 1238.81 PORTLAND ME 04103 1 08/19/05 00 0004347755 01 10/01/05 0.0000 0004347755 O 09/01/35 0 10165706 286/286 F 124,900.00 ZZ 360 124,335.87 1 5.8750 738.84 79 5.6250 738.84 MESA AZ 85205 1 08/03/05 00 0004349810 03 10/01/05 0.0000 0004349810 O 09/01/35 0 10165710 286/286 F 62,000.00 ZZ 360 61,846.00 1 6.3750 386.80 80 6.1250 386.80 BELLA VISTA AR 72714 1 10/26/05 00 0004358447 09 12/01/05 0.0000 0004358447 N 11/01/35 0 10165714 286/286 F 50,000.00 ZZ 360 49,904.87 1 6.2500 307.86 74 6.0000 307.86 AUGUSTA GA 30906 2 10/04/05 00 0004363306 05 12/01/05 0.0000 0004363306 N 11/01/35 0 10165716 286/286 F 62,608.00 ZZ 360 62,497.21 1 6.6250 400.89 80 6.3750 400.89 ROCKFORD IL 61108 1 10/28/05 00 0004364255 05 12/01/05 0.0000 0004364255 O 11/01/35 0 10165718 286/286 F 142,400.00 T 360 142,141.83 1 6.5000 900.07 80 6.2500 900.07 PALM COAST FL 32137 5 10/07/05 00 0004370429 05 12/01/05 0.0000 0004370429 O 11/01/35 0 10165722 286/286 F 50,000.00 ZZ 360 49,765.94 1 6.3750 311.94 67 6.1250 311.94 DUNEDIN FL 34698 5 07/18/05 00 0004371136 01 09/01/05 0.0000 0004371136 O 08/01/35 0 10165724 286/286 F 252,000.00 ZZ 360 251,519.69 1 6.2500 1551.61 80 6.0000 1551.61 TACOMA WA 98446 2 10/24/05 00 0004371766 05 12/01/05 0.0000 0004371766 O 11/01/35 0 10165726 286/286 F 352,000.00 ZZ 360 351,681.79 1 6.5000 2224.88 80 6.2500 2224.88 ALBUQUERQUE NM 87123 2 11/01/05 00 0004373290 05 01/01/06 0.0000 0004373290 O 12/01/35 0 10165740 286/286 F 320,800.00 ZZ 360 320,259.43 1 6.8750 2107.43 80 6.6250 2107.43 AUSTIN TX 78704 1 10/28/05 00 0004379533 05 12/01/05 0.0000 0004379533 N 11/01/35 0 10165742 286/286 F 165,750.00 ZZ 348 165,433.23 1 6.6250 1073.03 79 6.3750 1073.03 YAKIMA WA 98908 2 10/24/05 00 0004381791 05 12/01/05 0.0000 0004381791 O 11/01/34 0 10165750 286/286 F 108,000.00 ZZ 360 107,822.42 1 7.0000 718.53 80 6.7500 718.53 MC MURRAY PA 15317 1 10/28/05 00 0004383328 05 12/01/05 0.0000 0004383328 N 11/01/35 0 10165754 286/286 F 216,000.00 ZZ 360 215,536.08 1 5.8750 1277.73 80 5.6250 1277.73 SAN DIEGO CA 92110 1 10/21/05 00 0004385192 01 12/01/05 0.0000 0004385192 O 11/01/35 0 10165756 286/286 F 359,650.00 ZZ 360 358,932.13 1 6.0000 2156.29 80 5.7500 2156.29 APOPKA FL 32712 5 10/24/05 00 0004385468 05 12/01/05 0.0000 0004385468 O 11/01/35 0 10165760 286/286 F 50,000.00 ZZ 360 49,957.99 1 6.8750 328.47 80 6.6250 328.47 AMARILLO TX 79106 1 11/08/05 00 0004391347 05 01/01/06 0.0000 0004391347 N 12/01/35 0 10165764 286/286 F 120,000.00 ZZ 360 119,777.11 1 6.3750 748.65 80 6.1250 748.65 LAKE OSWEGO OR 97035 2 10/24/05 00 0004391389 01 12/01/05 0.0000 0004391389 N 11/01/35 0 10165768 286/286 F 57,500.00 ZZ 360 57,421.55 1 6.5000 363.44 78 6.2500 363.44 HUBBARD OH 44425 1 11/03/05 00 0004393014 05 01/01/06 0.0000 0004393014 O 12/01/35 0 10165776 286/286 F 107,600.00 ZZ 360 107,395.26 1 6.2500 662.52 80 6.0000 662.52 MONTGOMERY AL 36116 1 10/27/05 00 0004398328 05 12/01/05 0.0000 0004398328 O 11/01/35 0 10165784 286/286 F 63,000.00 ZZ 360 62,893.83 1 6.8750 413.87 90 6.6250 413.87 NORRISTOWN PA 19401 1 10/31/05 01 0004399492 07 12/01/05 25.0000 0004399492 N 11/01/35 0 10165786 286/286 F 295,000.00 ZZ 360 294,720.09 1 6.2500 1816.37 78 6.0000 1816.37 FONTANA CA 92336 1 11/01/05 00 0004400508 05 01/01/06 0.0000 0004400508 N 12/01/35 0 10165788 286/286 F 262,400.00 ZZ 360 261,863.63 1 5.8750 1552.20 78 5.6250 1552.20 PHOENIX AZ 85022 5 10/17/05 00 0004400625 03 12/01/05 0.0000 0004400625 O 11/01/35 0 10165792 286/286 F 691,600.00 ZZ 360 690,434.59 4 6.8750 4543.33 62 6.6250 4543.33 PALO ALTO CA 94306 1 10/21/05 00 0004401125 05 12/01/05 0.0000 0004401125 N 11/01/35 0 10165796 286/286 F 99,450.00 ZZ 360 99,253.60 1 6.8750 653.32 90 6.6250 653.32 HOUSTON TX 77042 1 10/24/05 10 0004402590 01 12/01/05 10.0000 0004402590 N 11/01/35 0 10165800 286/286 F 320,000.00 ZZ 360 319,419.86 1 6.5000 2022.62 80 6.2500 2022.62 RIALTO CA 92376 5 10/25/05 00 0004403376 05 12/01/05 0.0000 0004403376 O 11/01/35 0 10165802 286/286 F 202,500.00 ZZ 360 202,091.87 1 6.8750 1330.29 90 6.6250 1330.29 DESERT HOT SPRCA 92240 1 10/24/05 01 0004404820 05 12/01/05 25.0000 0004404820 N 11/01/35 0 10165804 286/286 F 288,000.00 ZZ 360 287,257.20 1 5.7500 1680.69 80 5.5000 1680.69 HOUSTON TX 77055 1 10/31/05 00 0004404950 05 12/01/05 0.0000 0004404950 O 11/01/35 0 10165810 286/286 F 492,000.00 ZZ 360 491,498.38 4 5.8750 2910.37 66 5.6250 2910.37 LOS ANGELES CA 90006 5 10/31/05 00 0004412579 05 01/01/06 0.0000 0004412579 O 12/01/35 0 10165812 286/286 F 288,000.00 ZZ 360 287,490.40 1 6.6250 1844.10 80 6.3750 1844.10 PALMDALE CA 93551 5 10/27/05 00 0004412682 05 12/01/05 0.0000 0004412682 O 11/01/35 0 10165814 286/286 F 592,000.00 ZZ 360 591,477.68 4 6.6250 3790.65 80 6.3750 3790.65 CHICAGO IL 60647 2 11/07/05 00 0004414091 03 01/01/06 0.0000 0004414091 N 12/01/35 0 10165818 286/286 F 288,000.00 T 360 287,752.03 1 6.7500 1867.97 80 6.5000 1867.97 SCOTTSDALE AZ 85254 5 11/01/05 00 0004416216 05 01/01/06 0.0000 0004416216 O 12/01/35 0 10165822 286/286 F 288,000.00 ZZ 360 287,726.73 1 6.2500 1773.27 80 6.0000 1773.27 DALLAS TX 75244 1 11/11/05 00 0004420835 05 01/01/06 0.0000 0004420835 O 12/01/35 0 10168671 E22/G02 F 212,000.00 ZZ 360 211,500.86 1 7.2500 1446.21 80 7.0000 1446.21 FAIRHOPE AL 36532 5 09/16/05 00 0425352432 05 11/01/05 0.0000 0425352432 O 10/01/35 0 10169365 588/G02 F 110,000.00 ZZ 360 109,608.08 2 6.6250 704.34 74 6.3750 704.34 BETHLEHEM CITYPA 18015 1 08/26/05 00 0440082816 05 10/01/05 0.0000 1153717 O 09/01/35 0 10170060 944/G02 F 300,000.00 ZZ 360 299,386.78 1 5.8750 1774.61 60 5.6250 1774.61 SANTA MARIA CA 93455 5 10/31/05 00 0440578870 05 12/01/05 0.0000 1001851295 N 11/01/35 0 10170080 944/G02 F 185,000.00 T 360 184,828.65 1 6.3750 1154.16 65 6.1250 1154.16 PALM COAST FL 32164 5 11/16/05 00 0440579944 05 01/01/06 0.0000 1001853023 O 12/01/35 0 10170088 944/G02 F 359,650.00 ZZ 360 359,300.44 1 6.1250 2185.27 48 5.8750 2185.27 SAN JOSE CA 95130 5 11/01/05 00 0440579498 05 01/01/06 0.0000 1001854160 O 12/01/35 0 10170096 944/G02 F 55,900.00 ZZ 360 55,843.01 1 5.8750 330.67 42 5.6250 330.67 WEST VALLEY CIUT 84119 5 11/02/05 00 0440579456 05 01/01/06 0.0000 1001854450 O 12/01/35 0 10170104 944/G02 F 75,000.00 ZZ 360 74,935.43 1 6.7500 486.45 43 6.5000 486.45 VANCOUVER WA 98685 1 11/01/05 00 0440579910 03 01/01/06 0.0000 1001854845 O 12/01/35 0 10170110 944/G02 F 162,500.00 ZZ 360 162,330.33 1 5.7500 948.31 67 5.5000 948.31 SONORA CA 95370 5 11/03/05 00 0440579423 05 01/01/06 0.0000 1001855204 O 12/01/35 0 10170112 944/G02 F 131,000.00 ZZ 360 130,878.67 1 6.3750 817.27 77 6.1250 817.27 TALYLORSVILLE UT 84119 2 11/10/05 00 0440579233 05 01/01/06 0.0000 1001855211 O 12/01/35 0 10170114 944/G02 F 400,000.00 ZZ 360 399,582.38 1 5.7500 2334.29 71 5.5000 2334.29 LIVERMORE CA 94551 5 11/11/05 00 0440591592 05 01/01/06 0.0000 1001855335 O 12/01/35 0 10170116 944/G02 F 346,000.00 ZZ 360 345,671.70 1 6.2500 2130.38 56 6.0000 2130.38 FREMONT CA 94538 5 11/09/05 00 0440579928 05 01/01/06 0.0000 1001855339 O 12/01/35 0 10170120 944/G02 F 422,500.00 ZZ 360 422,127.24 1 6.6250 2705.31 65 6.3750 2705.31 DALY CITY CA 94014 5 11/08/05 00 0440579761 01 01/01/06 0.0000 1001855378 O 12/01/35 0 10170122 944/G02 F 605,000.00 ZZ 360 604,368.34 1 5.7500 3530.62 62 5.5000 3530.62 GILROY CA 95020 5 11/03/05 00 0440580579 05 01/01/06 0.0000 1001855461 O 12/01/35 0 10170124 944/G02 F 103,200.00 ZZ 360 103,108.95 1 6.6250 660.80 80 6.3750 660.80 TAMPA FL 33629 1 11/11/05 00 0440579985 01 01/01/06 0.0000 1001855477 O 12/01/35 0 10170126 944/G02 F 132,800.00 ZZ 360 132,570.68 1 6.7500 861.34 80 6.5000 861.34 SUPERIOR WI 54880 1 11/04/05 00 0440579290 05 12/01/05 0.0000 1001855481 O 11/01/35 0 10170128 944/G02 F 400,000.00 ZZ 360 399,638.40 2 6.5000 2528.27 50 6.2500 2528.27 LAGUNA NIGUEL CA 92677 5 11/11/05 00 0440580124 03 01/01/06 0.0000 1001855723 O 12/01/35 0 10170567 E22/G02 F 144,000.00 T 360 143,616.74 1 6.6250 922.05 80 6.3750 922.05 SAINT GEORGE UT 84770 1 09/13/05 00 0425485281 09 11/01/05 0.0000 0425485281 O 10/01/35 0 10181343 E22/G02 F 42,750.00 ZZ 360 42,645.36 1 7.8750 309.97 75 7.6250 309.97 ABERDEEN WA 98520 5 09/13/05 00 0425011335 05 11/01/05 0.0000 0425011335 N 10/01/35 0 10181345 E22/G02 F 61,600.00 ZZ 360 61,468.22 1 7.8750 446.64 80 7.6250 446.64 HOQUIAM WA 98550 2 09/13/05 00 0425011384 05 11/01/05 0.0000 0425011384 N 10/01/35 0 10181347 E22/G02 F 39,200.00 ZZ 360 39,101.03 1 7.1250 264.10 55 6.8750 264.10 HOQUIAM WA 98550 2 09/13/05 00 0425013778 05 11/01/05 0.0000 0425013778 N 10/01/35 0 10181355 E22/G02 F 69,000.00 ZZ 360 68,856.60 1 7.8750 500.30 75 7.6250 500.30 ABERDEEN WA 98520 5 09/13/05 00 0425015963 05 11/01/05 0.0000 0425015963 N 10/01/35 0 10183531 E22/G02 F 166,500.00 ZZ 360 166,098.18 1 7.1250 1121.74 90 6.8750 1121.74 LAKE WORTH FL 33463 1 09/28/05 10 0425401403 09 11/01/05 30.0000 0425401403 O 10/01/35 0 10184873 P60/G02 F 145,800.00 ZZ 360 145,402.43 2 6.5000 921.56 90 6.2500 921.56 CLEVELAND OH 44118 1 09/20/05 11 0440199214 05 11/01/05 25.0000 1310981220 N 10/01/35 0 10187228 A21/G02 F 380,000.00 ZZ 360 379,717.98 1 7.5000 2657.02 80 7.2500 2657.02 FORT WASHINGTOMD 20744 1 11/15/05 00 0440678068 05 01/01/06 0.0000 0100137162 O 12/01/35 0 10187250 286/286 F 75,000.00 ZZ 360 74,945.71 1 7.6250 530.85 63 7.3750 530.85 HOPKINS MI 49328 1 11/10/05 00 0003197072 05 01/01/06 0.0000 0003197072 O 12/01/35 0 10187292 286/286 F 50,000.00 ZZ 360 49,863.81 1 7.6250 353.90 23 7.3750 353.90 BROWNSBURG IN 46112 1 11/09/05 00 0004405445 05 01/01/06 0.0000 0004405445 O 12/01/35 0 10187294 286/286 F 45,500.00 ZZ 360 45,467.88 1 7.7500 325.97 80 7.5000 325.97 HAMTRAMCK MI 48212 1 11/23/05 00 0004405853 05 01/01/06 0.0000 0004405853 O 12/01/35 0 10187310 286/286 F 80,000.00 ZZ 360 79,935.67 1 7.6250 566.24 54 7.3750 566.24 HORIZON CITY TX 79928 1 11/09/05 00 0004423853 05 01/01/06 0.0000 0004423853 O 12/01/35 0 10187322 286/286 F 87,000.00 ZZ 360 86,941.62 1 8.0000 638.38 54 7.7500 638.38 CLARKSVILLE TN 37043 1 11/22/05 00 0004439668 05 01/01/06 0.0000 0004439668 O 12/01/35 0 10187496 944/G02 F 275,000.00 ZZ 360 274,763.24 1 6.7500 1783.64 79 6.5000 1783.64 KEIZER OR 97303 2 11/15/05 00 0440710150 05 01/01/06 0.0000 1001853455 O 12/01/35 0 10187945 E22/G02 F 60,800.00 ZZ 360 60,668.26 1 7.8750 440.84 80 7.6250 440.84 HOQUIAM WA 98550 2 09/13/05 00 0425011194 05 11/01/05 0.0000 0425011194 N 10/01/35 0 10188362 286/286 F 97,500.00 T 360 97,418.08 1 6.8750 640.51 75 6.6250 640.51 DALTON MA 01226 1 11/09/05 00 0004101713 05 01/01/06 0.0000 0004101713 O 12/01/35 0 10188374 286/286 F 52,700.00 ZZ 360 52,474.12 1 6.5000 333.10 85 6.2500 333.10 BALTIMORE MD 21223 1 08/10/05 01 0004213183 07 10/01/05 20.0000 0004213183 N 09/01/35 0 10188376 286/286 F 260,000.00 ZZ 360 258,919.87 1 7.0000 1729.79 80 6.7500 1729.79 ROSELLE PARK NJ 07204 2 07/19/05 00 0004229627 05 09/01/05 0.0000 0004229627 O 08/01/35 0 10188378 286/286 F 60,000.00 ZZ 360 59,955.47 2 7.5000 419.53 80 7.2500 419.53 BINGHAMTON NY 13905 1 11/07/05 00 0004237575 05 01/01/06 0.0000 0004237575 N 12/01/35 0 10188388 286/286 F 63,200.00 ZZ 360 63,200.00 1 7.3750 388.42 80 7.1250 388.42 BALTIMORE MD 21213 5 11/22/05 00 0004256146 07 01/01/06 0.0000 0004256146 N 12/01/35 0 10188394 286/286 F 271,960.00 ZZ 360 271,960.00 1 6.2500 1416.46 80 6.0000 1416.46 COVINGTON WA 98042 1 09/28/05 00 0004256290 05 11/01/05 0.0000 0004256290 O 10/01/35 0 10188408 286/286 F 234,150.00 ZZ 360 234,149.99 1 7.0000 1365.88 85 6.7500 1365.88 RICHMOND VA 23229 2 10/11/05 11 0004306691 05 12/01/05 20.0000 0004306691 N 11/01/35 0 10188412 286/286 F 240,000.00 ZZ 360 240,000.00 1 6.1250 1225.00 80 5.8750 1225.00 COLORADO SPRINCO 80904 1 09/16/05 00 0004325794 05 11/01/05 0.0000 0004325794 O 10/01/35 0 10188414 286/286 F 117,900.00 ZZ 360 117,900.00 1 6.8750 675.47 90 6.6250 675.47 SEATAC WA 98188 1 09/15/05 01 0004329822 01 11/01/05 25.0000 0004329822 N 10/01/35 0 10188416 286/286 F 155,053.00 ZZ 360 154,587.59 1 6.0000 929.63 80 5.7500 929.63 CANTON GA 30114 1 09/29/05 00 0004331486 03 11/01/05 0.0000 0004331486 O 10/01/35 0 10188418 286/286 F 136,000.00 ZZ 360 135,600.00 1 6.3750 722.50 80 6.1250 722.50 WESTLAND MI 48185 5 09/26/05 00 0004331863 05 11/01/05 0.0000 0004331863 O 10/01/35 0 10188422 286/286 F 415,500.00 ZZ 360 415,500.00 1 7.1250 2467.03 68 6.8750 2467.03 LAS CRUCES NM 88011 2 09/26/05 00 0004335723 05 11/01/05 0.0000 0004335723 N 10/01/35 0 10188428 286/286 F 160,000.00 ZZ 360 160,000.00 3 6.8750 916.67 80 6.6250 916.67 MACON GA 31201 2 09/21/05 00 0004339046 05 11/01/05 0.0000 0004339046 N 10/01/35 0 10188436 286/286 F 332,000.00 T 360 332,000.00 1 7.5000 2075.00 80 7.2500 2075.00 MAUREPAS LA 70449 5 09/26/05 00 0004344940 05 11/01/05 0.0000 0004344940 O 10/01/35 0 10188442 286/286 F 520,000.00 ZZ 360 520,000.00 1 6.0000 2600.00 80 5.7500 2600.00 MILPITAS CA 95132 1 10/07/05 00 0004346267 01 12/01/05 0.0000 0004346267 O 11/01/35 0 10188446 286/286 F 450,000.00 ZZ 360 449,998.75 1 6.0000 2250.00 72 5.7500 2250.00 WAIPAHU HI 96797 5 09/27/05 00 0004350836 05 11/01/05 0.0000 0004350836 O 10/01/35 0 10188450 286/286 F 70,000.00 ZZ 316 69,771.63 1 7.1250 491.30 74 6.8750 491.30 BALTIMORE MD 21212 2 09/28/05 00 0004352077 05 11/01/05 0.0000 0004352077 N 02/01/32 0 10188464 286/286 F 62,250.00 ZZ 360 62,192.34 2 6.3750 388.36 75 6.1250 388.36 BOWLING GREEN KY 42101 5 11/14/05 00 0004358924 05 01/01/06 0.0000 0004358924 N 12/01/35 0 10188466 286/286 F 52,100.00 ZZ 360 52,050.56 1 6.2500 320.79 75 6.0000 320.79 BOWLING GREEN KY 42101 5 11/14/05 00 0004358973 05 01/01/06 0.0000 0004358973 N 12/01/35 0 10188468 286/286 F 209,084.00 ZZ 360 208,456.42 1 6.0000 1253.57 80 5.7500 1253.57 GAINESVILLE GA 30507 1 09/21/05 00 0004363377 03 11/01/05 0.0000 0004363377 O 10/01/35 0 10188470 286/286 F 191,750.00 ZZ 360 191,129.74 1 6.1250 1165.10 80 5.8750 1165.10 BEND OR 97701 1 09/26/05 00 0004363423 03 11/01/05 0.0000 0004363423 O 10/01/35 0 10188476 286/286 F 284,000.00 ZZ 360 284,000.00 1 6.0000 1420.00 59 5.7500 1420.00 RANCHO CUCAMONCA 91701 5 10/07/05 00 0004366740 05 12/01/05 0.0000 0004366740 O 11/01/35 0 10188482 286/286 F 275,400.00 ZZ 360 275,400.00 1 6.1250 1405.69 87 5.8750 1405.69 RICHMOND VA 23227 1 10/13/05 11 0004368982 05 12/01/05 12.0000 0004368982 O 11/01/35 0 10188492 286/286 F 281,250.00 ZZ 360 281,250.00 1 7.5000 1757.81 75 7.2500 1757.81 ONTARIO CA 91762 1 10/11/05 00 0004372330 05 12/01/05 0.0000 0004372330 O 11/01/35 0 10188498 286/286 F 204,000.00 ZZ 360 203,482.88 1 6.8750 1340.14 80 6.6250 1340.14 SPRING TX 77381 1 09/30/05 00 0004373552 05 11/01/05 0.0000 0004373552 O 10/01/35 0 10188502 286/286 F 191,920.00 ZZ 360 191,920.00 1 6.6250 1059.56 80 6.3750 1059.56 MCDONOUGH GA 30252 1 10/20/05 00 0004374409 03 12/01/05 0.0000 0004374409 O 11/01/35 0 10188510 286/286 F 120,000.00 ZZ 360 120,000.00 1 6.3750 637.50 80 6.1250 637.50 RICHMOND VA 23236 1 10/28/05 00 0004379138 05 12/01/05 0.0000 0004379138 N 11/01/35 0 10188748 286/286 F 38,700.00 ZZ 360 38,665.01 1 6.5000 244.62 90 6.2500 244.62 WASHINGTON DC 20032 1 11/17/05 01 0004381078 07 01/01/06 25.0000 0004381078 N 12/01/35 0 10188760 286/286 F 202,500.00 ZZ 360 202,334.01 3 7.0000 1347.24 90 6.7500 1347.24 ST ALBANS VT 05478 1 11/21/05 01 0004381700 05 01/01/06 25.0000 0004381700 N 12/01/35 0 10188774 286/286 F 148,800.00 ZZ 360 148,743.09 1 6.8750 852.50 80 6.6250 852.50 GREENBELT MD 20770 1 10/14/05 00 0004385679 01 12/01/05 0.0000 0004385679 O 11/01/35 0 10188776 286/286 F 47,250.00 ZZ 360 47,211.26 1 7.0000 314.36 90 6.7500 314.36 BALTIMORE MD 21211 1 11/07/05 01 0004385739 07 01/01/06 25.0000 0004385739 N 12/01/35 0 10188782 286/286 F 278,000.00 ZZ 360 278,000.00 1 6.5000 1505.83 80 6.2500 1505.83 VICTORVILLE CA 92392 5 10/25/05 00 0004386390 05 12/01/05 0.0000 0004386390 O 11/01/35 0 10188787 E22/G02 F 76,000.00 ZZ 360 75,792.26 1 6.8750 499.27 80 6.6250 499.27 BENTLEY LA 71407 5 09/26/05 00 0425668860 05 11/01/05 0.0000 0425668860 O 10/01/35 0 10188788 286/286 F 612,000.00 ZZ 360 612,000.00 1 7.1250 3633.75 80 6.8750 3633.75 ASHBURN VA 20148 2 10/25/05 00 0004387874 03 12/01/05 0.0000 0004387874 O 11/01/35 0 10188796 286/286 F 116,000.00 T 360 115,967.98 1 6.6250 640.42 80 6.3750 640.42 COEUR D ALENE ID 83814 1 11/01/05 00 0004388380 05 01/01/06 0.0000 0004388380 O 12/01/35 0 10188798 286/286 F 40,150.00 ZZ 360 40,118.67 1 7.2500 273.90 90 7.0000 273.90 BALTIMORE MD 21215 1 11/14/05 01 0004388664 07 01/01/06 25.0000 0004388664 N 12/01/35 0 10188814 286/286 F 88,800.00 ZZ 360 88,708.75 1 6.8750 583.36 80 6.6250 583.36 ATHENS IL 62613 2 11/14/05 00 0004392528 05 01/01/06 0.0000 0004392528 O 12/01/35 0 10188836 286/286 F 317,000.00 ZZ 360 317,000.00 1 6.7500 1783.13 77 6.5000 1783.13 ROCKLIN CA 95765 1 10/21/05 00 0004396281 05 12/01/05 0.0000 0004396281 N 11/01/35 0 10188860 286/286 F 68,500.00 ZZ 360 68,443.84 1 7.0000 455.74 77 6.7500 455.74 CHARLOTTE NC 28215 2 11/10/05 00 0004399870 05 01/01/06 0.0000 0004399870 N 12/01/35 0 10188872 286/286 F 431,250.00 ZZ 360 430,887.69 1 6.8750 2470.70 75 6.6250 2470.70 JACKSON CA 95642 5 10/27/05 00 0004400491 05 12/01/05 0.0000 0004400491 O 11/01/35 0 10188892 286/286 F 461,250.00 ZZ 360 461,249.99 1 7.0000 2690.63 75 6.7500 2690.63 POWAY CA 92064 2 11/08/05 00 0004404986 03 01/01/06 0.0000 0004404986 O 12/01/35 0 10188902 286/286 F 255,200.00 ZZ 360 255,010.60 1 7.5000 1784.40 80 7.2500 1784.40 PALM DESERT CA 92211 1 10/28/05 00 0004407027 03 01/01/06 0.0000 0004407027 N 12/01/35 0 10188915 E22/G02 F 102,000.00 ZZ 360 101,747.70 1 7.0000 678.61 80 6.7500 678.61 RIDGELAND MS 39157 1 09/30/05 00 0425727179 07 11/01/05 0.0000 0425727179 O 10/01/35 0 10188959 E22/G02 F 111,200.00 ZZ 360 110,896.78 1 6.5000 702.86 80 6.2500 702.86 CECIL PA 15017 1 09/30/05 00 0425752177 09 11/01/05 0.0000 0425752177 O 10/01/35 0 10190450 286/286 F 62,100.00 ZZ 360 62,042.48 1 6.3750 387.43 63 6.1250 387.43 CHILLICOTHE OH 45601 1 11/17/05 00 0004408517 05 01/01/06 0.0000 0004408517 O 12/01/35 0 10190452 286/286 F 60,000.00 T 240 59,847.50 1 6.2500 438.56 39 6.0000 438.56 PENSACOLA FL 32507 5 11/08/05 00 0004408527 05 01/01/06 0.0000 0004408527 O 12/01/25 0 10190482 286/286 F 282,550.00 T 360 282,288.30 1 6.3750 1762.75 80 6.1250 1762.75 LAVEEN AZ 85041 1 11/10/05 00 0004411120 03 01/01/06 0.0000 0004411120 O 12/01/35 0 10190496 286/286 F 69,700.00 ZZ 360 69,642.86 1 7.0000 463.72 85 6.7500 463.72 PHOENIX AZ 85033 1 11/01/05 01 0004412013 05 01/01/06 25.0000 0004412013 N 12/01/35 0 10190514 286/286 F 457,600.00 ZZ 360 457,600.00 1 6.8750 2621.67 80 6.6250 2621.67 MURRIETA CA 92562 5 10/27/05 00 0004414978 05 12/01/05 0.0000 0004414978 O 11/01/35 0 10190524 286/286 F 59,920.00 ZZ 360 59,868.41 1 6.7500 388.64 80 6.5000 388.64 BARTOW FL 33830 1 11/16/05 00 0004415703 05 01/01/06 0.0000 0004415703 N 12/01/35 0 10190596 286/286 F 47,200.00 ZZ 360 47,163.18 1 7.2500 321.99 80 7.0000 321.99 SPRINGFIELD MO 65803 5 11/14/05 00 0004426563 05 01/01/06 0.0000 0004426563 N 12/01/35 0 10190668 286/286 F 73,100.00 ZZ 240 72,955.36 1 6.7500 555.83 74 6.5000 555.83 MACHESNEY PARKIL 61115 2 11/16/05 00 0004428408 05 01/01/06 0.0000 0004428408 O 12/01/25 0 10190692 286/286 F 40,000.00 ZZ 360 39,972.47 1 7.8750 290.03 80 7.6250 290.03 BALTIMORE MD 21213 1 11/11/05 00 0004431592 07 01/01/06 0.0000 0004431592 N 12/01/35 0 10190734 286/286 F 148,520.00 ZZ 360 148,520.00 1 7.1250 881.84 80 6.8750 881.84 HOFFMAN ESTATEIL 60195 1 11/22/05 00 0004438154 01 01/01/06 0.0000 0004438154 N 12/01/35 0 10190740 286/286 F 81,520.00 ZZ 360 81,451.51 1 6.8750 535.53 80 6.6250 535.53 SPOKANE WA 99207 1 11/21/05 00 0004441075 05 01/01/06 0.0000 0004441075 O 12/01/35 0 10196619 168/168 F 213,400.00 ZZ 360 212,349.10 1 6.5000 1348.84 80 6.2500 1348.84 CORINTH TX 76210 1 08/29/05 00 0569819857 03 10/01/05 0.0000 0569819857 O 09/01/35 0 10200773 E22/G02 F 133,600.00 ZZ 360 133,369.29 2 6.7500 866.53 80 6.5000 866.53 GREENFIELD MA 01301 1 10/07/05 00 0425366838 05 12/01/05 0.0000 0425366838 O 11/01/35 0 10201173 E22/G01 F 82,500.00 ZZ 360 82,331.36 1 5.8750 488.02 67 5.6250 488.02 BLACK EARTH WI 53515 5 10/03/05 00 0425599024 05 12/01/05 0.0000 0425599024 O 11/01/35 0 10207859 E22/G02 F 121,400.00 ZZ 360 121,223.72 1 7.6250 859.26 90 7.3750 859.26 BATON ROUGE LA 70816 1 10/12/05 04 0425566106 05 12/01/05 25.0000 0425566106 N 11/01/35 0 10212492 X78/G02 F 116,000.00 ZZ 360 115,911.74 1 7.3750 801.18 80 7.1250 801.18 AUSTELL GA 30168 2 11/30/05 00 0440695500 05 01/01/06 0.0000 991538 O 12/01/35 0 10213495 Z74/G02 F 85,200.00 ZZ 360 85,056.73 2 7.0000 566.84 80 6.7500 566.84 MOUNT CLEMENS MI 48043 1 10/13/05 00 0440313484 05 12/01/05 0.0000 01048858 O 11/01/35 0 10217833 225/225 F 341,100.00 ZZ 360 340,480.40 2 6.8750 2240.79 90 6.6250 2240.79 FISHKILL NY 12524 1 10/05/05 12 005772491 05 12/01/05 25.0000 005772491 O 11/01/35 0 10217955 225/225 F 141,500.00 ZZ 360 141,166.85 2 7.2500 965.28 95 7.0000 965.28 AUSTIN TX 78745 1 09/09/05 12 003932065 05 11/01/05 30.0000 003932065 O 10/01/35 0 10221192 696/G02 F 492,300.00 ZZ 360 491,407.50 1 6.5000 3111.67 80 6.2500 3111.67 WOODBRIDGE VA 22192 1 10/24/05 00 0440630762 03 12/01/05 0.0000 23305077 O 11/01/35 0 10223527 168/168 F 350,000.00 ZZ 360 348,974.24 2 6.1250 2126.64 78 5.8750 2126.64 QUEENS NY 11426 1 09/28/05 00 0569945615 05 11/01/05 0.0000 0569945615 O 10/01/35 0 10223639 168/168 F 650,000.00 ZZ 360 648,821.58 2 6.5000 4108.45 80 6.2500 4108.45 MOUNT VERNON NY 10552 1 10/06/05 00 0569732042 05 12/01/05 0.0000 0569732042 O 11/01/35 0 10223678 696/G02 F 58,700.00 ZZ 360 58,649.46 1 6.7500 380.73 08 6.5000 380.73 WASHINGTON DC 20007 2 12/01/05 00 0440673853 05 01/01/06 0.0000 31205399 N 12/01/35 0 10223913 E22/G02 F 52,200.00 ZZ 360 52,127.91 1 7.8750 378.49 90 7.6250 378.49 HARRISBURG PA 17104 1 10/25/05 10 0425663275 07 12/01/05 25.0000 0425663275 N 11/01/35 0 10225729 E22/G01 F 192,000.00 ZZ 360 191,616.76 1 6.0000 1151.14 48 5.7500 1151.14 OCEAN NJ 07712 5 10/21/05 00 0425793072 05 12/01/05 0.0000 0425793072 O 11/01/35 0 10226345 369/G02 F 92,700.00 ZZ 360 92,476.28 1 7.1250 624.54 90 6.8750 624.54 PHILADELPHIA PA 19138 1 09/30/05 10 0440323244 07 11/01/05 25.0000 79831798 O 10/01/35 0 10226429 369/G02 F 70,000.00 ZZ 360 69,835.20 2 7.2500 477.52 75 7.0000 477.52 RACINE WI 53402 1 09/23/05 00 0440320794 05 11/01/05 0.0000 80092000 O 10/01/35 0 10228343 E22/G01 F 184,000.00 ZZ 360 183,666.42 1 6.5000 1163.01 80 6.2500 1163.01 YORKVILLE IL 60560 1 10/27/05 00 0425750684 03 12/01/05 0.0000 0425750684 O 11/01/35 0 10228597 E82/G02 F 136,000.00 TX 360 135,768.67 1 6.8750 893.42 80 6.6250 893.42 MISSOURI CITY TX 77459 5 10/25/05 00 0401164579 03 12/01/05 0.0000 0401164579 O 11/01/35 0 10230046 196/G02 F 584,000.00 ZZ 360 583,459.09 1 6.3750 3643.41 80 6.1250 3643.41 ELLIOT CITY MD 21043 1 11/21/05 00 0440710499 03 01/01/06 0.0000 6506391 O 12/01/35 0 10230054 196/G02 F 820,000.00 ZZ 360 819,311.10 1 6.8750 5386.82 75 6.6250 5386.82 WOODLAND HILLSCA 91364 2 11/10/05 00 0440712198 05 01/01/06 0.0000 6507487 O 12/01/35 0 10230058 196/G02 F 425,000.00 ZZ 360 424,566.69 1 5.8750 2514.04 65 5.6250 2514.04 RANCHO CUCAMONCA 91701 5 11/01/05 00 0440710655 05 01/01/06 0.0000 6507627 O 12/01/35 0 10230062 196/G02 F 455,000.00 ZZ 360 454,636.14 1 7.1250 3065.42 65 6.8750 3065.42 ORLAND PARK IL 60467 1 11/30/05 00 0440710622 05 01/01/06 0.0000 6507708 O 12/01/35 0 10230074 196/G02 F 434,000.00 ZZ 360 433,626.33 1 6.7500 2814.92 83 6.5000 2814.92 BURSON CA 95225 1 11/18/05 14 0440713006 05 01/01/06 12.0000 6508250 O 12/01/35 0 10230076 196/G02 F 421,200.00 ZZ 360 420,809.88 1 6.3750 2627.75 76 6.1250 2627.75 BIG LAKE MN 55308 4 11/18/05 00 0440707263 05 01/01/06 0.0000 6750556 O 12/01/35 0 10230204 196/G02 F 100,000.00 TX 360 99,818.71 1 6.5000 632.07 56 6.2500 632.07 LAGO VISTA TX 78645 5 10/12/05 00 0440714731 03 12/01/05 0.0000 6506033 O 11/01/35 0 10230206 196/G02 F 105,750.00 ZZ 360 105,553.34 1 6.3750 659.74 75 6.1250 659.74 LAFAYETTE LA 70506 1 10/21/05 00 0440715712 29 12/01/05 0.0000 6506257 N 11/01/35 0 10230210 196/G02 F 295,000.00 ZZ 360 294,425.08 1 6.1250 1792.46 49 5.8750 1792.46 AUBURN CA 95603 5 10/26/05 00 0440712461 05 12/01/05 0.0000 6506423 O 11/01/35 0 10230212 196/G02 F 156,000.00 ZZ 360 155,855.51 1 6.3750 973.24 45 6.1250 973.24 MORENO VALLEY CA 92557 5 11/11/05 00 0440703759 05 01/01/06 0.0000 6507203 O 12/01/35 0 10230214 196/G02 F 117,500.00 ZZ 360 117,391.17 1 6.3750 733.05 61 6.1250 733.05 CORAL GABLES FL 33146 1 11/10/05 00 0440713642 01 01/01/06 0.0000 6507235 N 12/01/35 0 10230216 196/G02 F 252,000.00 ZZ 360 251,760.89 1 6.2500 1551.61 50 6.0000 1551.61 VIRGINIA BEACHVA 23451 5 11/18/05 00 0440714855 05 01/01/06 0.0000 6507293 N 12/01/35 0 10230218 196/G02 F 300,000.00 ZZ 360 299,701.34 1 6.0000 1798.66 62 5.7500 1798.66 BOOTHWYN PA 19061 5 11/04/05 00 0440714418 05 01/01/06 0.0000 6507295 O 12/01/35 0 10230224 196/G02 F 312,000.00 ZZ 360 311,711.02 1 6.3750 1946.48 65 6.1250 1946.48 ARCADIA CA 91006 5 11/04/05 00 0440713782 05 01/01/06 0.0000 6507471 O 12/01/35 0 10230226 196/G02 F 83,700.00 ZZ 360 83,639.41 1 7.6250 592.43 90 7.3750 592.43 MILWAUKEE WI 53209 5 11/07/05 11 0440737070 05 01/01/06 25.0000 6507550 O 12/01/35 0 10230242 196/G02 F 349,000.00 ZZ 360 348,713.92 1 7.0000 2321.91 75 6.7500 2321.91 CHICAGO IL 60634 5 11/04/05 00 0440691418 05 01/01/06 0.0000 6507725 O 12/01/35 0 10230258 196/G02 F 278,400.00 ZZ 360 278,154.37 1 6.6250 1782.63 80 6.3750 1782.63 PEPPERELL MA 01463 1 11/21/05 00 0440688349 05 01/01/06 0.0000 6507891 O 12/01/35 0 10230262 196/G02 F 340,000.00 ZZ 360 339,692.09 1 6.5000 2149.04 80 6.2500 2149.04 ORLANDO FL 32837 5 11/14/05 00 0440737971 03 01/01/06 0.0000 6507901 O 12/01/35 0 10230266 196/G02 F 359,650.00 ZZ 360 359,308.75 1 6.2500 2214.43 55 6.0000 2214.43 CONCORD CA 94521 5 11/03/05 00 0440707834 05 01/01/06 0.0000 6507969 N 12/01/35 0 10230268 196/G02 F 359,650.00 ZZ 360 359,308.75 1 6.2500 2214.43 49 6.0000 2214.43 CONCORD CA 94519 5 11/03/05 00 0440749547 05 01/01/06 0.0000 6507970 N 12/01/35 0 10230282 196/G02 F 148,000.00 ZZ 360 147,875.66 1 6.8750 972.26 80 6.6250 972.26 CANTON GA 30114 2 11/10/05 00 0440715506 05 01/01/06 0.0000 6508076 O 12/01/35 0 10230284 196/G02 F 82,725.00 ZZ 360 82,657.18 1 7.0000 550.38 84 6.7500 550.38 HARVEY LA 70058 1 11/18/05 11 0440714939 05 01/01/06 12.0000 6508081 N 12/01/35 0 10230294 196/G02 F 215,000.00 ZZ 360 214,805.63 1 6.5000 1358.95 45 6.2500 1358.95 SAN LEANDRO CA 94577 5 11/15/05 00 0440749554 05 01/01/06 0.0000 6508174 O 12/01/35 0 10230300 196/G02 F 135,200.00 ZZ 360 135,086.41 1 6.8750 888.17 80 6.6250 888.17 SHEBOYGAN WI 53081 2 11/23/05 00 0440715399 01 01/01/06 0.0000 6508233 O 12/01/35 0 10230310 196/G02 F 131,000.00 ZZ 360 130,878.67 1 6.3750 817.27 29 6.1250 817.27 HEMET CA 92543 2 11/18/05 00 0440710770 05 01/01/06 0.0000 6650673 O 12/01/35 0 10230358 X78/G02 F 81,000.00 ZZ 360 81,000.00 1 8.0000 594.35 90 7.7500 594.35 HINESVILLE GA 31313 1 12/08/05 10 0440753945 05 02/01/06 25.0000 991567 N 01/01/36 0 10231877 E22/G01 F 184,000.00 ZZ 360 183,600.68 1 6.2500 1132.92 80 6.0000 1132.92 ROCKY HILL CT 06067 1 10/31/05 00 0425137734 05 12/01/05 0.0000 0425137734 O 11/01/35 0 10232281 E22/G01 F 218,400.00 ZZ 360 217,852.44 1 6.6250 1398.44 80 6.3750 1398.44 RENO NV 89511 5 10/20/05 00 0425900347 05 12/01/05 0.0000 0425900347 O 11/01/35 0 10232400 196/G02 F 800,000.00 ZZ 360 799,276.79 1 6.5000 5056.54 63 6.2500 5056.54 ALAMO CA 94507 5 11/15/05 00 0440712131 05 01/01/06 0.0000 6755524 O 12/01/35 0 10232475 E22/G02 F 328,000.00 ZZ 360 327,460.71 4 7.0000 2182.19 80 6.7500 2182.19 BRIDGEPORT CT 06604 1 10/31/05 00 0425881265 05 12/01/05 0.0000 0425881265 N 11/01/35 0 10232992 196/G02 F 260,000.00 ZZ 360 259,776.14 1 6.7500 1686.36 80 6.5000 1686.36 MONTGOMERY IL 60538 5 11/23/05 00 0440688190 05 01/01/06 0.0000 6507941 O 12/01/35 0 10233022 196/G02 F 88,000.00 ZZ 360 87,918.49 1 6.3750 549.01 30 6.1250 549.01 MERCED CA 95340 5 11/23/05 00 0440711885 05 01/01/06 0.0000 6650678 O 12/01/35 0 10233024 196/G02 F 216,000.00 ZZ 360 215,804.73 1 6.5000 1365.27 50 6.2500 1365.27 LOS ANGELES CA 90027 1 11/18/05 00 0440711950 01 01/01/06 0.0000 6755525 O 12/01/35 0 10233093 E82/G01 F 87,200.00 ZZ 360 87,081.42 1 6.6250 558.35 70 6.3750 558.35 SPRING TX 77388 2 10/28/05 00 0401185798 03 01/01/06 0.0000 0401185798 O 12/01/35 0 10236641 E22/G02 F 238,500.00 T 360 238,098.11 1 6.8750 1566.78 90 6.6250 1566.78 INDIALANTIC FL 32903 1 11/01/05 10 0425787959 05 12/01/05 25.0000 0425787959 O 11/01/35 0 10237305 T91/G01 F 81,000.00 ZZ 300 80,667.35 1 6.3750 540.61 74 6.1250 540.61 CROSSVILLE TN 38572 5 10/20/05 00 0440335255 03 11/25/05 0.0000 3000021378 O 10/25/30 0 10238318 696/G02 F 280,000.00 ZZ 360 280,000.00 1 7.2500 1691.67 80 7.0000 1691.67 WASHINGTON DC 20011 1 10/17/05 00 0440706943 05 12/01/05 0.0000 20205112 N 11/01/35 0 10239988 696/G02 F 259,600.00 ZZ 360 259,600.00 1 6.3750 1379.13 71 6.1250 1379.13 FORT WASHINGTOMD 20744 5 12/13/05 00 0440733251 05 02/01/06 0.0000 20205142 O 01/01/36 0 10240000 696/G02 F 313,950.00 ZZ 360 313,950.00 1 6.7500 1765.97 63 6.5000 1765.97 CENTREVILLE VA 20120 5 12/09/05 00 0440716660 03 02/01/06 0.0000 23305343 O 01/01/36 0 10240312 696/G02 F 512,000.00 ZZ 360 512,000.00 1 6.5000 2773.33 80 6.2500 2773.33 WASHINGTON DC 20018 1 11/30/05 00 0440738227 05 01/01/06 0.0000 40105506 O 12/01/35 0 10242902 696/G02 F 47,900.00 ZZ 360 47,900.00 1 6.1250 244.49 80 5.8750 244.49 BALTIMORE MD 21223 1 11/18/05 00 0440764207 02 01/01/06 0.0000 20205119 N 12/01/35 0 10242922 696/G02 F 179,200.00 ZZ 360 179,200.00 1 6.7500 1008.00 70 6.5000 1008.00 SEMINOLE FL 33772 1 12/12/05 00 0440764132 05 02/01/06 0.0000 32605285 O 01/01/36 0 10245206 B44/G02 F 452,000.00 ZZ 360 452,000.00 1 7.3750 2777.92 80 7.1250 2777.92 DAVIS CA 95616 1 12/02/05 00 0440770410 05 02/01/06 0.0000 2050184 N 01/01/36 0 10245406 696/G02 F 286,000.00 ZZ 360 286,000.00 1 6.3750 1519.38 80 6.1250 1519.38 MCLEAN VA 22102 1 12/16/05 00 0440762938 06 02/01/06 0.0000 25105211 O 01/01/36 0 10247075 E22/G02 F 59,850.00 ZZ 360 59,769.41 1 8.0000 439.16 90 7.7500 439.16 VERO BEACH FL 32962 1 10/31/05 01 0425613551 05 12/01/05 25.0000 0425613551 N 11/01/35 0 10247348 696/G02 F 649,950.00 ZZ 360 649,950.00 1 6.6250 3588.27 70 6.3750 3588.27 ASHBURN VA 20148 5 12/09/05 00 0440763423 03 02/01/06 0.0000 80905001 O 01/01/36 0 10247589 P60/G01 F 75,905.00 ZZ 360 75,760.56 1 6.2500 467.37 95 6.0000 467.37 BETHEL PARK PA 15102 1 10/21/05 10 0440342517 05 12/01/05 30.0000 1311018683 O 11/01/35 0 10248625 F44/G02 F 116,000.00 ZZ 360 115,654.35 1 6.2500 714.23 78 6.0000 714.23 NORRISTOWN PA 19401 5 09/07/05 00 0440425304 07 11/01/05 0.0000 55058819 O 10/01/35 0 10249259 U85/G02 F 150,320.00 ZZ 360 150,057.37 2 6.6900 968.98 80 6.4400 968.98 MILWAUKEE WI 53219 1 10/28/05 00 0440414001 05 12/01/05 0.0000 0510100030 O 11/01/35 0 10249955 E22/G02 F 388,000.00 ZZ 360 387,689.72 2 7.1250 2614.03 80 6.8750 2614.03 SAINT ALBANS NY 11412 1 11/04/05 00 0425943800 05 01/01/06 0.0000 0425943800 O 12/01/35 0 10250523 U05/G02 F 82,450.00 ZZ 360 82,317.75 4 7.1250 555.48 80 6.8750 555.48 LUBBOCK TX 79401 1 10/27/05 00 0440677276 05 12/01/05 0.0000 3000799872 N 11/01/35 0 10251506 696/G02 F 284,000.00 ZZ 360 284,000.00 1 6.8750 1627.08 80 6.6250 1627.08 PURCELLVILLE VA 20132 1 12/09/05 00 0440769164 09 02/01/06 0.0000 24005242 O 01/01/36 0 10251512 696/G02 F 238,500.00 ZZ 360 238,500.00 1 6.5000 1291.88 43 6.2500 1291.88 ARLINGTON VA 22207 5 12/02/05 00 0440769297 05 01/01/06 0.0000 40105531 N 12/01/35 0 10251516 696/G02 F 416,000.00 ZZ 360 416,000.00 1 6.7500 2340.00 80 6.5000 2340.00 WOODBRIDGE VA 22193 1 12/21/05 00 0440769131 03 02/01/06 0.0000 26405297 O 01/01/36 0 10251575 H58/G01 F 180,000.00 ZZ 360 179,665.67 1 6.3750 1122.97 65 6.1250 1122.97 CHANDLER AZ 85224 1 10/27/05 00 0440351013 05 12/01/05 0.0000 341543 O 11/01/35 0 10251725 369/G02 F 179,200.00 ZZ 360 178,912.55 4 7.1250 1207.30 80 6.8750 1207.30 VERNON ROCKVILCT 06066 1 10/12/05 00 0440480234 05 12/01/05 0.0000 80024532 N 11/01/35 0 10251763 369/G02 F 120,000.00 ZZ 360 119,802.71 4 7.0000 798.36 80 6.7500 798.36 EL PASO TX 79904 1 10/05/05 00 0440564490 05 12/01/05 0.0000 80116536 N 11/01/35 0 10251809 369/G02 F 120,000.00 ZZ 360 119,802.71 4 7.0000 798.36 80 6.7500 798.36 EL PASO TX 79904 1 10/05/05 00 0440564383 05 12/01/05 0.0000 80148935 N 11/01/35 0 10251825 369/G02 F 60,000.00 ZZ 360 60,000.00 1 7.0000 350.00 80 6.7500 350.00 PLYMOUTH IN 46563 1 10/04/05 00 0440564789 05 11/01/05 0.0000 80155146 N 10/01/35 0 10251853 369/G02 F 127,900.00 ZZ 360 127,744.49 3 8.5000 983.44 80 8.2500 983.44 NORTH BENNINGTVT 05257 1 10/12/05 00 0440480077 05 12/01/05 0.0000 80165905 N 11/01/35 0 10251863 369/G02 F 69,200.00 ZZ 360 69,089.01 2 7.1250 466.21 80 6.8750 466.21 SAINT ANN MO 63074 1 10/14/05 00 0440554301 05 12/01/05 0.0000 80170210 N 11/01/35 0 10251901 369/G02 F 169,000.00 ZZ 360 168,748.38 3 7.5000 1181.67 80 7.2500 1181.67 SALT LAKE CITYUT 84103 1 10/11/05 00 0440483527 05 12/01/05 0.0000 80183775 N 11/01/35 0 10253405 U05/G02 F 76,650.00 ZZ 360 76,527.04 3 7.1250 516.41 80 6.8750 516.41 LUBBOCK TX 79401 1 10/27/05 00 0440678076 05 12/01/05 0.0000 3000799863 N 11/01/35 0 10253699 T61/G02 F 83,893.00 ZZ 360 83,777.16 1 7.8750 608.28 90 7.6250 608.28 COATESVILLE PA 19320 1 10/31/05 10 0440448843 07 12/01/05 25.0000 14453 N 11/01/35 0 10253717 Y78/G02 F 103,548.00 ZZ 360 103,350.99 1 6.2500 637.56 78 6.0000 637.56 BAY CITY MI 48706 5 11/01/05 00 0440407393 05 12/01/05 0.0000 22211197 O 11/01/35 0 10254341 E22/G02 F 204,800.00 ZZ 360 204,428.70 1 6.5000 1294.48 79 6.2500 1294.48 MOBILE AL 36608 2 11/04/05 00 0426049524 05 12/01/05 0.0000 0426049524 N 11/01/35 0 10255687 462/G02 F 150,750.00 ZZ 360 150,525.54 1 7.5000 1054.07 80 7.2500 1054.07 VALRICO FL 33594 1 10/31/05 00 0440554624 03 12/01/05 0.0000 0006010375 N 11/01/35 0 10255695 462/G02 F 297,000.00 ZZ 360 296,546.61 1 7.3750 2051.31 90 7.1250 2051.31 LOVELAND CO 80538 1 10/31/05 01 0440550689 03 12/01/05 25.0000 0006042873 O 11/01/35 0 10255751 462/G02 F 200,550.00 T 360 200,168.42 1 6.2500 1234.83 80 6.0000 1234.83 BRADENTON FL 34212 1 10/26/05 00 0440551851 09 12/01/05 0.0000 0006229280 O 11/01/35 0 10255855 462/G02 F 445,000.00 ZZ 360 444,250.16 1 6.8750 2923.33 75 6.6250 2923.33 CAPE CORAL FL 33914 4 10/20/05 00 0440567956 05 12/01/05 0.0000 0008585390 O 11/01/35 0 10257407 E22/G01 F 176,000.00 ZZ 360 176,000.00 1 6.2500 916.67 80 6.0000 916.67 PEMBROKE PINESFL 33024 5 11/04/05 00 0425948411 01 01/01/06 0.0000 0425948411 O 12/01/35 0 10257499 E22/G01 F 220,000.00 ZZ 360 219,815.18 1 6.8750 1445.24 79 6.6250 1445.24 COLORADO SPRINCO 80922 2 11/03/05 00 0426058608 03 01/01/06 0.0000 0426058608 O 12/01/35 0 10260279 E22/G02 F 30,750.00 ZZ 360 30,726.01 2 7.2500 209.77 75 7.0000 209.77 ROCHESTER NY 14609 1 11/10/05 00 0425798824 05 01/01/06 0.0000 0425798824 N 12/01/35 0 10263035 M37/G02 F 145,600.00 T 360 145,477.68 1 6.8750 956.49 80 6.6250 956.49 ALBUQUERQUE NM 87114 1 11/04/05 00 0440507226 03 01/01/06 0.0000 623570 O 12/01/35 0 10264423 E22/G02 F 123,600.00 ZZ 360 123,503.58 4 7.2500 843.17 80 7.0000 843.17 CLARKSVILLE TN 37043 1 11/14/05 00 0426078648 05 01/01/06 0.0000 0426078648 N 12/01/35 0 10264583 E22/G02 F 184,500.00 ZZ 360 184,366.46 2 7.6250 1305.88 90 7.3750 1305.88 PHILA PA 19131 1 11/14/05 04 0426193389 05 01/01/06 25.0000 0426193389 N 12/01/35 0 10265939 E22/G01 F 160,000.00 ZZ 360 159,851.81 1 6.3750 998.19 80 6.1250 998.19 FALL RIVER MA 02720 1 11/15/05 00 0425950144 01 01/01/06 0.0000 0425950144 O 12/01/35 0 10266127 E22/G02 F 116,000.00 ZZ 360 115,902.54 1 6.8750 762.04 80 6.6250 762.04 PEARLAND TX 77581 1 11/14/05 00 0426208161 09 01/01/06 0.0000 0426208161 O 12/01/35 0 10266427 H76/G02 F 425,000.00 ZZ 360 424,247.97 1 6.6250 2721.33 79 6.3750 2721.33 MADISON MS 39110 5 10/31/05 00 0440477214 05 12/01/05 0.0000 2005675798 O 11/01/35 0 10266445 H76/G02 F 165,000.00 ZZ 360 164,721.95 1 6.8750 1083.94 69 6.6250 1083.94 SHEFFIELD MA 01257 5 10/31/05 00 0440477206 05 12/01/05 0.0000 2005671273 O 11/01/35 0 10266459 H76/G02 F 192,000.00 ZZ 360 191,692.01 1 7.1250 1293.54 78 6.8750 1293.54 WESLEY AR 72773 5 11/03/05 00 0440479061 05 12/01/05 0.0000 2005659364 O 11/01/35 0 10267689 H76/G02 F 96,000.00 ZZ 360 95,838.22 1 6.8750 630.66 80 6.6250 630.66 PALM BAY FL 32907 1 10/31/05 00 0440477230 05 12/01/05 0.0000 2005675698 N 11/01/35 0 10267969 Y94/G02 F 780,000.00 ZZ 360 779,294.87 1 6.5000 4930.13 80 6.2500 4930.13 SACRAMENTO CA 95819 1 11/08/05 00 0440716991 05 01/01/06 0.0000 0000013663 O 12/01/35 0 10268993 E82/G01 F 183,200.00 ZZ 360 183,042.27 1 6.7500 1188.23 59 6.5000 1188.23 NORFOLK VA 23504 2 11/14/05 00 0401195169 05 01/01/06 0.0000 0401195169 O 12/01/35 0 10269415 H76/G02 F 522,000.00 ZZ 360 521,030.47 1 6.3750 3256.61 90 6.1250 3256.61 WESTBURY NY 11590 5 10/28/05 01 0440575421 05 12/01/05 25.0000 6734002977 O 11/01/35 0 10269435 H76/G02 F 185,600.00 ZZ 360 185,287.25 1 6.8750 1219.26 80 6.6250 1219.26 PITTSFIELD NH 03263 5 10/27/05 00 0440573772 05 12/01/05 0.0000 2005674316 O 11/01/35 0 10269787 H76/G02 F 308,000.00 ZZ 360 307,541.39 1 7.5000 2153.59 80 7.2500 2153.59 BERWYN HEIGHTSMD 20740 5 10/25/05 00 0440575397 05 12/01/05 0.0000 2005675508 O 11/01/35 0 10269863 H76/G02 F 175,000.00 ZZ 240 174,315.89 1 6.8750 1343.68 65 6.6250 1343.68 ATTLEBORO MA 02703 5 10/28/05 00 0440575413 05 12/01/05 0.0000 2005676507 O 11/01/25 0 10271423 T61/G02 F 78,795.00 ZZ 360 78,740.77 1 7.8750 571.32 90 7.6250 571.32 COATESVILLE PA 19320 1 11/10/05 14 0440565992 07 01/01/06 25.0000 14816 N 12/01/35 0 10271449 H76/G02 F 180,000.00 ZZ 360 179,704.04 1 7.0000 1197.55 80 6.7500 1197.55 BALDWINSVILLE NY 13027 5 11/01/05 00 0440551034 05 12/01/05 0.0000 2005675938 O 11/01/35 0 10271539 H76/G02 F 410,000.00 T 360 409,358.37 1 7.2500 2796.93 54 7.0000 2796.93 NORTH TOPSAIL NC 28460 5 10/28/05 00 0440575389 05 12/01/05 0.0000 2005673676 O 11/01/35 0 10271597 253/253 F 172,000.00 ZZ 360 172,000.00 1 6.5000 931.67 80 6.2500 931.67 JACKSON MI 49203 1 11/04/05 00 642760 05 01/01/06 0.0000 642760 O 12/01/35 0 10271599 H76/G02 F 128,000.00 ZZ 360 127,712.87 1 6.8750 840.87 80 6.6250 840.87 PARKVILLE MD 21234 5 11/01/05 00 0440569812 07 12/01/05 0.0000 2005673200 O 11/01/35 0 10271747 313/G02 F 351,000.00 ZZ 360 350,378.93 1 6.6250 2247.49 79 6.3750 2247.49 HAVERHILL MA 01830 2 10/26/05 00 0440668515 05 12/01/05 0.0000 10875839 O 11/01/35 0 10271775 H76/G02 F 123,000.00 ZZ 360 122,825.80 1 7.7500 881.19 71 7.5000 881.19 WARE MA 01082 5 10/27/05 00 0440571917 05 12/01/05 0.0000 2005673758 O 11/01/35 0 10271827 H76/G02 F 285,000.00 ZZ 360 284,564.93 1 7.3750 1968.43 60 7.1250 1968.43 PORT CHESTER NY 10573 5 11/03/05 00 0440573657 05 12/01/05 0.0000 2005677013 N 11/01/35 0 10272587 H76/G02 F 331,200.00 ZZ 360 330,628.08 1 6.7500 2148.16 90 6.5000 2148.16 FORTSON GA 31808 2 10/10/05 01 0440550739 03 12/01/05 25.0000 2005670406 O 11/01/35 0 10272649 H76/G02 F 179,000.00 ZZ 360 178,690.89 1 6.7500 1161.00 95 6.5000 1161.00 STRONGSVILLE OH 44149 5 10/31/05 01 0440551067 05 12/01/05 30.0000 2005676189 O 11/01/35 0 10272785 H76/G02 F 120,000.00 ZZ 360 119,854.09 1 8.5000 922.70 80 8.2500 922.70 CHESWICK PA 15024 5 10/26/05 00 0440570026 05 12/01/05 0.0000 2005675395 O 11/01/35 0 10272943 N67/G02 F 169,200.00 ZZ 360 168,771.11 1 6.8750 1111.52 86 6.0750 1111.52 DURANT OK 74701 2 09/19/05 36 0440551141 05 11/01/05 30.0000 1165007791 O 10/01/35 0 10272945 N67/G02 F 139,760.00 ZZ 360 138,808.70 1 8.0000 1025.51 90 7.7500 1025.51 ALBUQUERQUE NM 87124 1 10/07/05 12 0440554947 05 12/01/05 30.0000 1165007906 O 11/01/35 0 10272967 N67/G02 F 100,800.00 ZZ 360 100,612.78 1 6.3750 628.86 80 6.1250 628.86 SPRINGFIELD MI 49015 1 10/25/05 00 0440555050 05 12/01/05 0.0000 1330300320 O 11/01/35 0 10272969 N67/G02 F 123,200.00 T 360 122,987.26 1 6.7500 799.07 80 6.5000 799.07 PHOENIX AZ 85019 1 10/20/05 00 0440555068 03 12/01/05 0.0000 1330300480 O 11/01/35 0 10272971 N67/G02 F 383,000.00 ZZ 360 380,897.18 1 5.8750 2265.59 71 5.6250 2265.59 OVERTON NV 89040 2 10/18/05 00 0440555076 05 12/01/05 0.0000 1360003290 O 11/01/35 0 10272975 N67/G02 F 296,350.00 ZZ 360 295,812.75 1 6.5000 1873.13 80 6.2500 1873.13 LAS VEGAS NV 89148 1 10/18/05 00 0440555092 03 12/01/05 0.0000 1360300429 O 11/01/35 0 10272995 N67/G02 F 397,600.00 ZZ 360 396,962.21 1 7.1250 2678.70 79 6.8750 2678.70 RENO NV 89523 1 10/10/05 00 0440555191 03 12/01/05 0.0000 1860300132 N 11/01/35 0 10273007 N67/G02 F 112,500.00 ZZ 360 112,154.42 1 7.3750 777.01 93 7.1250 777.01 BISHOPVILLE SC 29010 1 08/12/05 01 0440555258 05 10/01/05 35.0000 3253002039 O 09/01/35 0 10273053 N67/G02 F 150,000.00 ZZ 360 149,560.38 1 6.1250 911.42 63 5.8750 911.42 CAPE CORAL FL 33991 5 09/23/05 00 0440555480 05 11/01/05 0.0000 3253004206 N 10/01/35 0 10273057 N67/G02 F 279,200.00 ZZ 360 278,740.96 1 7.0000 1857.52 80 6.7500 1857.52 PLACIDA FL 33946 1 10/31/05 00 0440555506 03 12/01/05 0.0000 3253004354 O 11/01/35 0 10273091 N67/G02 F 77,400.00 T 360 77,284.76 1 7.5000 541.19 90 7.2500 541.19 SEBRING FL 33872 1 10/20/05 01 0440555670 01 12/01/05 25.0000 3253004907 O 11/01/35 0 10273113 N67/G02 F 150,000.00 ZZ 360 148,448.55 1 6.8750 985.39 70 6.6250 985.39 CORAL SPRINGS FL 33071 1 10/17/05 00 0440555787 01 11/01/05 0.0000 3253005132 O 10/01/35 0 10273123 N67/G02 F 71,100.00 ZZ 360 71,009.01 1 8.2500 534.15 90 8.0000 534.15 WESTMORELAND TN 37186 1 10/18/05 14 0440555837 05 12/01/05 30.0000 3253005203 O 11/01/35 0 10273131 N67/G02 F 175,000.00 ZZ 360 174,658.95 1 6.1250 1063.32 64 5.8750 1063.32 SORRENTO FL 32776 1 10/25/05 00 0440555878 03 12/01/05 0.0000 3253005238 O 11/01/35 0 10273143 N67/G02 F 63,920.00 ZZ 360 63,831.75 1 7.8750 463.46 80 7.6250 463.46 ORLANDO FL 32808 1 10/21/05 00 0440555944 09 12/01/05 0.0000 3253005310 O 11/01/35 0 10273145 N67/G02 F 96,750.00 ZZ 360 96,609.51 1 7.6250 684.79 90 7.3750 684.79 GREENWOOD IN 46143 1 10/18/05 11 0440555951 03 12/01/05 30.0000 3253005332 N 11/01/35 0 10273167 N67/G02 F 53,300.00 T 360 53,230.04 1 8.1250 395.75 70 7.8750 395.75 LETCHER KY 41832 5 10/31/05 00 0440556066 05 12/01/05 0.0000 3253005389 O 11/01/35 0 10273177 N67/G02 F 135,200.00 ZZ 360 134,972.17 1 6.8750 888.17 80 6.6250 888.17 ROUND LAKE BEAIL 60073 2 10/19/05 00 0440556116 05 12/01/05 0.0000 3253005420 O 11/01/35 0 10273185 N67/G02 F 102,400.00 ZZ 360 102,107.37 1 6.5000 647.24 80 6.2500 647.24 MARIETTA GA 30008 5 10/20/05 00 0440556165 05 12/01/05 0.0000 3253005465 O 11/01/35 0 10273187 N67/G02 F 340,000.00 ZZ 360 339,351.26 1 7.2500 2319.40 80 7.0000 2319.40 CAPE CORAL FL 33904 1 10/19/05 00 0440556173 05 12/01/05 0.0000 3253005467 O 11/01/35 0 10273191 N67/G02 F 96,000.00 ZZ 360 95,853.33 1 7.3750 663.05 80 7.1250 663.05 MEMPHIS TN 38115 1 10/25/05 00 0440556199 05 12/01/05 0.0000 3253005482 N 11/01/35 0 10273197 N67/G02 F 113,520.00 ZZ 360 113,417.38 1 6.5000 717.52 80 6.2500 717.52 ORLANDO FL 32810 1 11/09/05 00 0440556223 05 01/01/06 0.0000 3253005499 O 12/01/35 0 10273201 N67/G02 F 188,000.00 ZZ 360 187,533.61 1 6.7500 1219.36 80 6.5000 1219.36 ST PETERSBURG FL 33704 1 10/24/05 00 0440556249 05 12/01/05 0.0000 3253005504 O 11/01/35 0 10273221 N67/G02 F 122,650.00 T 360 122,438.20 1 6.7500 795.51 80 6.5000 795.51 CHARLOTTE NC 28212 1 10/24/05 00 0440556348 03 12/01/05 0.0000 3253005574 O 11/01/35 0 10273225 N67/G02 F 151,050.00 ZZ 360 150,841.41 1 7.8750 1095.22 95 7.6250 1095.22 LILBURN GA 30047 1 10/31/05 14 0440556363 05 12/01/05 35.0000 3253005592 O 11/01/35 0 10273241 N67/G02 F 97,000.00 ZZ 360 96,832.51 1 6.7500 629.14 80 6.5000 629.14 MATTHEWS NC 28105 1 10/21/05 00 0440556447 03 12/01/05 0.0000 3253005644 O 11/01/35 0 10273251 N67/G02 F 110,400.00 ZZ 360 110,168.93 1 5.7500 644.26 80 5.5000 644.26 CHARLOTTE NC 28269 1 10/28/05 00 0440556496 05 12/01/05 0.0000 3253005664 O 11/01/35 0 10273253 N67/G02 F 544,000.00 ZZ 360 543,190.02 1 7.5000 3803.73 80 7.2500 3803.73 NOVI MI 48374 1 10/20/05 00 0440556504 01 12/01/05 0.0000 3253005668 O 11/01/35 0 10273279 N67/G02 F 61,750.00 ZZ 360 61,668.95 1 8.1250 458.49 95 7.8750 458.49 SALISBURY NC 28146 1 11/03/05 01 0440556637 05 12/01/05 35.0000 3253005868 O 11/01/35 0 10273295 N67/G02 F 90,000.00 T 360 89,929.79 1 7.2500 613.96 90 7.0000 613.96 LEXINGTON KY 40505 1 11/08/05 11 0440556710 05 01/01/06 25.0000 3253006057 O 12/01/35 0 10273299 N67/G02 F 182,000.00 ZZ 360 181,827.31 1 6.2500 1120.61 80 6.0000 1120.61 TAMPA FL 33634 1 11/07/05 00 0440556744 05 01/01/06 0.0000 3253006083 O 12/01/35 0 10273303 N67/G02 F 89,680.00 ZZ 360 89,600.88 1 6.6250 574.23 80 6.3750 574.23 COLLIERVILLE TN 38017 2 11/04/05 00 0440556769 05 01/01/06 0.0000 3253006110 N 12/01/35 0 10273321 N67/G02 F 41,250.00 ZZ 360 41,223.69 1 8.2500 309.90 75 8.0000 309.90 CHARLOTTE NC 28216 5 11/10/05 00 0440556850 05 01/01/06 0.0000 3253006375 N 12/01/35 0 10273327 N67/G02 F 64,200.00 ZZ 360 64,011.84 1 6.1250 390.09 46 5.8750 390.09 PEMBROKE PINESFL 33027 5 09/08/05 00 0440556884 01 11/01/05 0.0000 3254021149 O 10/01/35 0 10273331 N67/G02 F 120,000.00 ZZ 360 119,573.01 1 6.6250 768.37 80 6.3750 768.37 FORT MYERS FL 33907 1 09/01/05 00 0440556900 03 10/01/05 0.0000 3254021218 O 09/01/35 0 10273333 N67/G02 F 176,000.00 ZZ 360 175,710.64 1 7.0000 1170.93 80 6.7500 1170.93 MIAMI FL 33033 1 10/17/05 00 0440556918 05 12/01/05 0.0000 3254021382 O 11/01/35 0 10273341 N67/G02 F 81,000.00 ZZ 360 80,825.16 1 6.6250 518.65 50 6.3750 518.65 CORAL SPRINGS FL 33071 2 10/13/05 00 0440556959 01 12/01/05 0.0000 3254021439 O 11/01/35 0 10273345 N67/G02 F 180,000.00 ZZ 360 179,696.69 1 6.8750 1182.47 80 6.6250 1182.47 PEMBROKE PINESFL 33026 5 10/21/05 00 0440556975 03 12/01/05 0.0000 3254021446 O 11/01/35 0 10273351 N67/G02 F 130,000.00 ZZ 360 129,760.70 1 7.5000 908.98 50 7.2500 908.98 LAKE WORTH FL 33463 5 10/14/05 00 0440557007 03 12/01/05 0.0000 3254021466 O 11/01/35 0 10273353 N67/G02 F 99,200.00 ZZ 360 99,120.67 1 7.1250 668.33 80 6.8750 668.33 HIALEAH FL 33014 1 11/08/05 00 0440557015 01 01/01/06 0.0000 3254021476 O 12/01/35 0 10273357 N67/G02 F 132,720.00 ZZ 360 132,473.50 1 6.3750 828.00 80 6.1250 828.00 INTERLACHEN FL 32148 1 10/31/05 00 0440557031 05 12/01/05 0.0000 3254021503 O 11/01/35 0 10273363 N67/G02 F 121,125.00 ZZ 360 120,820.68 2 8.3750 920.64 85 7.4550 920.64 FRANKLINTON NC 27525 5 07/29/05 26 0440551158 05 10/01/05 25.0000 3255008077 O 09/01/35 0 10273365 N67/G02 F 110,675.00 ZZ 360 110,044.31 1 7.1250 745.64 95 6.8750 745.64 PALM BAY FL 32909 1 05/26/05 10 0440557064 05 07/01/05 35.0000 3255008089 O 06/01/35 0 10273367 N67/G02 F 44,500.00 ZZ 360 44,310.93 1 6.8750 292.33 69 6.6250 292.33 ROME GA 30161 2 07/27/05 00 0440557072 05 09/01/05 0.0000 3255008094 N 08/01/35 0 10273387 N67/G02 F 176,000.00 ZZ 360 175,553.88 1 6.8750 1156.19 80 6.6250 1156.19 ST AUGUSTINE FL 32086 1 09/23/05 00 0440557171 05 11/01/05 0.0000 3255008381 O 10/01/35 0 10273389 N67/G02 F 244,800.00 ZZ 360 244,115.52 1 6.3750 1527.23 80 6.1250 1527.23 HUNTERSVILLE NC 28078 1 09/16/05 00 0440557189 03 11/01/05 0.0000 3255008386 O 10/01/35 0 10273395 N67/G02 F 64,600.00 ZZ 360 64,455.28 1 7.5000 451.69 95 6.4500 451.69 LOGANSPORT IN 46947 2 09/27/05 25 0440551166 05 11/01/05 35.0000 3255008412 O 10/01/35 0 10273401 N67/G02 F 183,915.00 ZZ 360 183,547.92 1 6.0000 1102.66 80 5.7500 1102.66 CHARLOTTE NC 28227 1 10/11/05 00 0440557239 03 12/01/05 0.0000 3255008505 O 11/01/35 0 10273411 N67/G02 F 136,800.00 ZZ 360 136,506.81 1 5.6250 787.50 80 5.3750 787.50 TROY IL 62294 2 10/11/05 00 0440557296 05 12/01/05 0.0000 3255008529 O 11/01/35 0 10273427 N67/G02 F 282,400.00 ZZ 360 281,958.07 1 7.2500 1926.47 80 7.0000 1926.47 CAPE CORAL FL 33993 1 10/18/05 00 0440557361 05 12/01/05 0.0000 3255008645 O 11/01/35 0 10273429 N67/G02 F 204,100.00 ZZ 360 203,845.39 1 8.3750 1551.31 90 7.3850 1551.31 HOMESTEAD FL 33033 1 10/12/05 26 0440551182 03 12/01/05 30.0000 3255008652 O 11/01/35 0 10273431 N67/G02 F 95,000.00 ZZ 360 94,823.55 1 6.3750 592.68 80 6.1250 592.68 CHARLOTTE NC 28205 1 10/14/05 00 0440557379 05 12/01/05 0.0000 3255008672 O 11/01/35 0 10273443 N67/G02 F 148,105.00 ZZ 360 147,747.57 1 7.1250 997.81 95 6.8750 997.81 WINTER HAVEN FL 33880 1 09/28/05 10 0440557437 03 11/01/05 35.0000 3255008772 O 10/01/35 0 10273447 N67/G02 F 195,120.00 T 360 194,748.76 1 6.2500 1201.39 80 6.0000 1201.39 DELTONA FL 32738 1 10/07/05 00 0440557452 05 12/01/05 0.0000 3255008799 O 11/01/35 0 10273449 N67/G02 F 136,000.00 ZZ 360 135,776.39 1 7.0000 904.81 80 6.7500 904.81 MIAMI FL 33147 1 10/14/05 00 0440557460 05 12/01/05 0.0000 3255008821 O 11/01/35 0 10273459 N67/G02 F 94,300.00 ZZ 360 93,775.65 4 7.2500 643.29 90 7.0000 643.29 ROCHESTER NY 14608 1 05/31/05 11 0440557510 05 07/01/05 25.0000 3274027591 N 06/01/35 0 10273493 N67/G02 F 108,000.00 ZZ 360 107,633.95 1 6.8750 709.48 80 6.6250 709.48 ODESSA FL 33556 1 08/31/05 00 0440557684 05 10/01/05 0.0000 3274032261 O 09/01/35 0 10273497 N67/G02 F 170,000.00 ZZ 360 169,734.74 2 7.7500 1217.90 74 7.5000 1217.90 ALBANY NY 12203 1 10/18/05 00 0440557700 05 12/01/05 0.0000 3274032442 O 11/01/35 0 10273499 N67/G02 F 144,000.00 ZZ 360 143,587.97 1 6.2500 886.63 80 6.0000 886.63 FOREST HILL MD 21050 1 09/21/05 00 0440557718 01 11/01/05 0.0000 3274032504 O 10/01/35 0 10273501 N67/G02 F 200,000.00 ZZ 360 199,652.01 1 7.1250 1347.44 65 6.8750 1347.44 LATHAM NY 12110 1 10/24/05 00 0440557726 05 12/01/05 0.0000 3274032537 O 11/01/35 0 10273503 N67/G02 F 280,000.00 ZZ 360 279,487.36 1 6.5000 1769.79 80 6.2500 1769.79 BROOKLYN NY 11211 1 10/14/05 00 0440557734 01 12/01/05 0.0000 3274032543 O 11/01/35 0 10273515 N67/G02 F 128,000.00 ZZ 360 127,667.51 1 6.7500 830.21 80 6.5000 830.21 PINE BUSH NY 12566 1 09/13/05 00 0440557791 05 11/01/05 0.0000 3274032833 O 10/01/35 0 10273519 N67/G02 F 59,000.00 ZZ 360 56,545.57 2 7.5000 412.54 67 7.2500 412.54 CHEEKTOWAGA NY 14225 1 10/20/05 00 0440557825 05 12/01/05 0.0000 3274032984 N 11/01/35 0 10273529 N67/G02 F 357,700.00 ZZ 360 357,035.64 1 6.3750 2231.58 80 6.1250 2231.58 COMMACK NY 11725 1 10/25/05 00 0440557874 05 12/01/05 0.0000 3274033253 O 11/01/35 0 10273537 N67/G02 F 427,500.00 ZZ 360 426,847.40 1 7.3750 2952.64 95 7.1250 2952.64 LAURELTON NY 11413 1 10/14/05 01 0440557908 05 12/01/05 35.0000 3274033431 O 11/01/35 0 10273575 N67/G02 F 150,000.00 ZZ 360 149,728.07 1 6.5000 948.10 75 6.2500 948.10 NEW BEDFORD MA 02740 5 10/13/05 00 0440558096 05 12/01/05 0.0000 3274033841 O 11/01/35 0 10273591 N67/G02 F 98,000.00 ZZ 360 97,804.39 1 6.0000 587.56 40 5.7500 587.56 LORTON VA 22079 2 10/20/05 00 0440558161 01 12/01/05 0.0000 3274034060 N 11/01/35 0 10273593 N67/G02 F 65,000.00 ZZ 360 64,903.22 2 7.5000 454.49 65 7.2500 454.49 ALBANY NY 12206 5 10/19/05 00 0440558179 05 12/01/05 0.0000 3274034061 N 11/01/35 0 10273599 N67/G02 F 180,000.00 ZZ 360 179,681.50 1 6.6250 1152.56 80 6.3750 1152.56 BROADVIEW IL 60155 1 10/20/05 00 0440558203 05 12/01/05 0.0000 3274034077 O 11/01/35 0 10273613 N67/G02 F 161,250.00 ZZ 360 161,130.33 1 7.5000 1127.48 75 7.2500 1127.48 EAST PROVIDENCRI 02914 1 11/10/05 00 0440558278 05 01/01/06 0.0000 3274034142 O 12/01/35 0 10273619 N67/G02 F 280,000.00 ZZ 360 279,441.13 2 6.0000 1678.74 78 5.7500 1678.74 ELIZABETH NJ 07201 2 10/26/05 00 0440558302 05 12/01/05 0.0000 3274034164 O 11/01/35 0 10273643 N67/G02 F 116,939.00 ZZ 360 116,716.52 1 6.2500 720.01 80 6.0000 720.01 BRISTOL PA 19007 1 10/17/05 00 0440558419 05 12/01/05 0.0000 3274034501 O 11/01/35 0 10273649 N67/G02 F 90,000.00 ZZ 360 89,852.03 2 7.0000 598.77 75 6.7500 598.77 HARRISBURG PA 17103 5 10/17/05 00 0440558443 05 12/01/05 0.0000 3274034538 N 11/01/35 0 10273655 N67/G02 F 154,000.00 ZZ 360 153,720.82 2 6.5000 973.38 74 6.2500 973.38 MANHEIM PA 17545 5 10/11/05 00 0440558476 05 12/01/05 0.0000 3274034562 O 11/01/35 0 10273663 N67/G02 F 152,000.00 ZZ 360 151,731.06 1 6.6250 973.27 80 6.3750 973.27 DUNDALK MD 21222 5 10/28/05 00 0440558518 05 12/01/05 0.0000 3274034609 O 11/01/35 0 10273671 N67/G02 F 127,440.00 ZZ 360 127,191.64 1 6.1250 774.34 80 5.8750 774.34 HARRISBURG PA 17109 1 10/17/05 00 0440558559 05 12/01/05 0.0000 3274034636 O 11/01/35 0 10273675 N67/G02 F 127,000.00 ZZ 360 126,810.91 1 7.5000 888.00 68 7.2500 888.00 TARIFFVILLE CT 06061 1 10/14/05 00 0440558575 03 12/01/05 0.0000 3274034652 O 11/01/35 0 10273677 N67/G02 F 296,000.00 ZZ 360 295,423.13 1 6.1250 1798.53 80 5.8750 1798.53 UPPER MARLBOROMD 20774 5 10/13/05 00 0440558583 05 12/01/05 0.0000 3274034655 O 11/01/35 0 10273681 N67/G02 F 167,920.00 ZZ 360 167,615.57 1 6.5000 1061.37 80 6.2500 1061.37 BRIDGEPORT CT 06610 1 10/25/05 00 0440558609 05 12/01/05 0.0000 3274034670 O 11/01/35 0 10273693 N67/G02 F 479,500.00 ZZ 360 478,587.71 1 6.2500 2952.36 70 6.0000 2952.36 SOUTH MERRICK NY 11566 1 10/27/05 00 0440558674 05 12/01/05 0.0000 3274034754 O 11/01/35 0 10273697 N67/G02 F 292,500.00 ZZ 360 292,101.78 1 8.0000 2146.26 90 6.6200 2146.26 NORTH ATTLEBORMA 02760 1 10/21/05 28 0440551216 05 12/01/05 30.0000 3274034778 O 11/01/35 0 10273703 N67/G02 F 444,500.00 ZZ 360 443,569.61 1 5.7500 2593.98 70 5.5000 2593.98 GERMANTOWN MD 20876 5 10/19/05 00 0440558716 05 12/01/05 0.0000 3274034794 O 11/01/35 0 10273715 N67/G02 F 170,000.00 ZZ 360 169,802.88 1 8.7500 1337.39 90 7.6600 1337.39 HAMPTON VA 23666 5 10/14/05 26 0440551224 05 12/01/05 30.0000 3274034832 O 11/01/35 0 10273731 N67/G02 F 356,800.00 ZZ 360 356,198.78 1 6.8750 2343.92 80 6.6250 2343.92 LUSBY MD 20657 5 10/26/05 00 0440558849 05 12/01/05 0.0000 3274034873 O 11/01/35 0 10273735 N67/G02 F 652,500.00 T 360 651,373.26 1 6.7500 4232.10 75 6.5000 4232.10 BERLIN MD 21811 1 11/04/05 00 0440558872 03 12/01/05 0.0000 3274034877 O 11/01/35 0 10273741 N67/G02 F 232,000.00 ZZ 360 231,609.08 1 6.8750 1524.07 80 6.6250 1524.07 DANBURY CT 06811 1 10/24/05 00 0440558906 01 12/01/05 0.0000 3274034919 O 11/01/35 0 10273751 N67/G02 F 82,000.00 ZZ 360 81,850.31 1 6.5000 518.30 80 6.2500 518.30 MANHEIM PA 17545 1 10/27/05 00 0440558955 05 12/01/05 0.0000 3274034986 O 11/01/35 0 10273761 N67/G02 F 52,800.00 ZZ 360 52,717.37 1 7.2500 360.19 80 7.0000 360.19 SELINSGROVE PA 17870 1 10/27/05 00 0440559003 05 12/01/05 0.0000 3274035013 O 11/01/35 0 10273763 N67/G02 F 482,400.00 ZZ 360 481,871.02 1 9.0000 3881.50 90 7.8400 3881.50 NORWALK CT 06854 1 10/28/05 37 0440551240 05 12/01/05 30.0000 3274035030 O 11/01/35 0 10273777 N67/G02 F 59,800.00 ZZ 360 55,706.04 1 8.5000 459.81 65 8.2500 459.81 MAYS LANDING NJ 08330 5 10/26/05 00 0440559078 01 12/01/05 0.0000 3274035106 N 11/01/35 0 10273779 N67/G02 F 44,200.00 ZZ 360 44,129.11 1 7.1250 297.78 80 6.8750 297.78 PORTAGE PA 15946 1 11/01/05 00 0440559086 05 12/01/05 0.0000 3274035108 O 11/01/35 0 10273785 N67/G02 F 122,000.00 ZZ 360 121,778.83 1 6.5000 771.12 42 6.2500 771.12 HOFFMAN ESTATEIL 60192 1 11/02/05 00 0440559110 01 12/01/05 0.0000 3274035135 O 11/01/35 0 10273807 N67/G02 F 64,000.00 ZZ 360 63,911.63 1 7.8750 464.04 80 7.6250 464.04 NUMIDIA PA 17858 1 10/28/05 00 0440559227 03 12/01/05 0.0000 3274035330 O 11/01/35 0 10273809 N67/G02 F 169,500.00 ZZ 360 169,343.01 1 6.3750 1057.46 63 6.1250 1057.46 EAST ORANGE NJ 07017 2 11/04/05 00 0440559235 05 01/01/06 0.0000 3274035362 O 12/01/35 0 10273811 N67/G02 F 325,850.00 ZZ 360 325,433.01 1 8.2500 2448.00 95 6.9600 2448.00 HARRISBURG PA 17110 1 11/04/05 26 0440551257 05 12/01/05 35.0000 3274035363 O 11/01/35 0 10273829 N67/G02 F 369,500.00 ZZ 360 369,189.58 1 6.8750 2427.35 56 6.6250 2427.35 DORCHESTER MA 02125 2 11/04/05 00 0440559326 05 01/01/06 0.0000 3274035543 O 12/01/35 0 10273839 N67/G02 F 389,000.00 ZZ 360 388,656.79 2 6.6250 2490.81 69 6.3750 2490.81 NORWALK CT 06854 2 11/08/05 00 0440559375 05 01/01/06 0.0000 3274035870 N 12/01/35 0 10273865 N67/G02 F 256,000.00 ZZ 360 255,213.15 1 5.8750 1514.34 80 5.6250 1514.34 CATONSVILLE MD 21228 1 09/12/05 00 0440559490 05 11/01/05 0.0000 3275006293 O 10/01/35 0 10273881 N67/G02 F 123,500.00 ZZ 360 123,325.10 1 7.7500 884.77 95 7.5000 884.77 ROCHESTER NY 14612 1 10/21/05 12 0440559573 05 12/01/05 35.0000 3275006401 O 11/01/35 0 10273893 N67/G02 F 384,800.00 ZZ 360 384,067.88 2 6.2500 2369.28 80 6.0000 2369.28 SAUGUS MA 01906 2 10/14/05 00 0440559631 05 12/01/05 0.0000 3275006437 O 11/01/35 0 10273907 N67/G02 F 140,000.00 ZZ 360 139,733.64 1 6.2500 862.00 59 6.0000 862.00 NEW PALTZ NY 12561 1 10/17/05 00 0440559706 05 12/01/05 0.0000 3275006479 O 11/01/35 0 10273949 N67/G02 F 70,000.00 ZZ 360 69,614.08 1 6.8750 459.85 80 6.6250 459.85 COVINGTON LA 70433 1 07/29/05 00 0440559904 05 09/01/05 0.0000 3311000888 O 08/01/35 0 10273967 N67/G02 F 97,000.00 ZZ 360 96,810.96 1 6.1250 589.38 49 5.8750 589.38 GLENDALE AZ 85307 5 10/20/05 00 0440559995 05 12/01/05 0.0000 3311001651 O 11/01/35 0 10273983 N67/G02 F 198,000.00 ZZ 360 197,658.10 1 6.7500 1284.22 58 6.5000 1284.22 GILBERT AZ 85296 5 10/20/05 00 0440560076 03 12/01/05 0.0000 3311001841 O 11/01/35 0 10273997 N67/G02 F 63,920.00 ZZ 360 63,791.17 1 6.8750 419.91 80 6.6250 419.91 SAN ANGELO TX 76904 1 10/20/05 00 0440560159 05 12/01/05 0.0000 3311001928 N 11/01/35 0 10274001 N67/G02 F 100,000.00 ZZ 360 99,861.91 1 7.8750 725.07 65 7.6250 725.07 FULTON TX 78358 1 10/17/05 00 0440560175 05 12/01/05 0.0000 3311001934 O 11/01/35 0 10274003 N67/G02 F 203,000.00 ZZ 360 202,631.97 1 6.5000 1283.10 70 6.2500 1283.10 SCOTTSDALE AZ 85260 1 10/21/05 00 0440560183 03 12/01/05 0.0000 3311001935 N 11/01/35 0 10274007 N67/G02 F 152,910.00 ZZ 360 152,593.52 1 7.7500 1095.47 90 7.5000 1095.47 SPRINGFIELD LA 70462 1 10/19/05 11 0440560209 05 12/01/05 30.0000 3311001942 O 11/01/35 0 10274009 N67/G02 F 141,750.00 ZZ 360 141,505.22 1 6.7500 919.39 75 6.5000 919.39 TUCSON AZ 85715 1 10/17/05 00 0440560217 03 12/01/05 0.0000 3311001951 O 11/01/35 0 10274013 N67/G02 F 200,000.00 ZZ 360 199,662.98 1 6.8750 1313.86 65 6.6250 1313.86 ROCKPORT TX 78382 1 10/17/05 00 0440560233 05 12/01/05 0.0000 3311001979 O 11/01/35 0 10274015 N67/G02 F 158,400.00 ZZ 360 158,139.56 1 7.0000 1053.84 80 6.7500 1053.84 SLIDELL LA 70460 1 10/21/05 00 0440560241 03 12/01/05 0.0000 3311001980 O 11/01/35 0 10274017 N67/G02 F 427,500.00 ZZ 360 427,130.17 1 10.1250 3791.17 95 9.8750 3791.17 SCOTTSDALE AZ 85250 1 10/20/05 01 0440560258 05 12/01/05 35.0000 3311001987 O 11/01/35 0 10274021 N67/G02 F 120,650.00 ZZ 360 120,491.63 1 8.1250 895.82 95 7.8750 895.82 MISSOURI CITY TX 77459 1 10/12/05 01 0440560274 03 12/01/05 35.0000 3311002020 O 11/01/35 0 10274029 N67/G02 F 162,000.00 ZZ 240 161,389.25 1 7.6250 1317.47 58 7.3750 1317.47 TEMPE AZ 85282 5 10/13/05 00 0440560308 05 12/01/05 0.0000 3311002061 N 11/01/25 0 10274035 N67/G02 F 317,600.00 ZZ 360 316,919.35 1 5.6250 1828.28 80 5.3750 1828.28 MANDEVILLE LA 70448 1 10/21/05 00 0440560332 05 12/01/05 0.0000 3311002075 O 11/01/35 0 10274045 N67/G02 F 151,900.00 ZZ 360 151,772.39 1 6.8750 997.87 95 6.6250 997.87 COVINGTON LA 70433 1 11/08/05 11 0440560381 05 01/01/06 35.0000 3311002170 O 12/01/35 0 10274047 N67/G02 F 212,000.00 ZZ 360 211,615.67 1 6.5000 1339.98 80 6.2500 1339.98 CHANDLER AZ 85224 5 10/27/05 00 0440560399 05 12/01/05 0.0000 3311002200 O 11/01/35 0 10274051 N67/G02 F 126,000.00 ZZ 360 125,802.83 1 7.2500 859.54 90 7.0000 859.54 BUSH LA 70431 1 10/28/05 01 0440560415 05 12/01/05 30.0000 3311002207 O 11/01/35 0 10274053 N67/G02 F 92,000.00 ZZ 360 91,837.21 1 6.6250 589.09 80 6.3750 589.09 SAN ANGELO TX 76904 1 10/27/05 00 0440560423 05 12/01/05 0.0000 3311002215 O 11/01/35 0 10274055 N67/G02 F 75,200.00 ZZ 360 75,130.35 1 6.3750 469.15 80 6.1250 469.15 HOUSTON TX 77014 1 11/01/05 00 0440560431 03 01/01/06 0.0000 3311002221 O 12/01/35 0 10274069 N67/G02 F 76,500.00 ZZ 360 76,315.39 1 7.1250 515.39 85 6.8750 515.39 MESQUITE TX 75150 2 10/04/05 11 0440560506 05 11/01/05 25.0000 3315006202 N 10/01/35 0 10274071 N67/G02 F 155,200.00 TX 360 154,897.55 1 6.1250 943.01 80 5.8750 943.01 SPRING TX 77386 5 10/06/05 00 0440560514 05 12/01/05 0.0000 3315006204 O 11/01/35 0 10274081 N67/G02 F 320,000.00 ZZ 360 318,141.76 1 5.8750 1892.92 75 5.6250 1892.92 RANCHO CUCAMONCA 91701 5 10/07/05 00 0440560563 05 12/01/05 0.0000 3315006268 N 11/01/35 0 10274087 N67/G02 F 300,000.00 ZZ 360 297,162.08 1 6.5000 1896.20 80 6.2500 1896.20 DIAMOND BAR CA 91765 2 09/20/05 00 0440560597 01 11/01/05 0.0000 3315006303 O 10/01/35 0 10274093 N67/G02 F 127,300.00 ZZ 360 126,935.74 1 6.2500 783.81 95 6.0000 783.81 SPRING TX 77373 1 09/28/05 14 0440560621 03 11/01/05 35.0000 3315006333 O 10/01/35 0 10274095 N67/G02 F 116,800.00 ZZ 360 116,481.50 1 6.5000 738.26 80 6.2500 738.26 PORTLAND OR 97236 1 09/16/05 00 0440560639 01 11/01/05 0.0000 3315006341 O 10/01/35 0 10274101 N67/G02 F 355,000.00 ZZ 360 354,256.95 1 5.7500 2071.68 67 5.5000 2071.68 RANCHO CUCAMONCA 91701 5 10/10/05 00 0440560662 05 12/01/05 0.0000 3315006364 O 11/01/35 0 10274117 N67/G02 F 379,200.00 ZZ 360 378,495.71 1 6.3750 2365.71 80 6.1250 2365.71 FORT COLLINS CO 80524 5 10/05/05 00 0440560738 05 12/01/05 0.0000 3315006418 O 11/01/35 0 10274125 N67/G02 F 193,000.00 ZZ 360 192,623.02 2 6.6250 1235.80 53 6.3750 1235.80 LOS ANGELES CA 90037 5 10/14/05 00 0440560779 05 12/01/05 0.0000 3318005375 O 11/01/35 0 10274129 N67/G02 F 280,000.00 ZZ 360 279,467.26 2 6.2500 1724.01 70 6.0000 1724.01 YUBA CITY AREACA 95991 5 10/06/05 00 0440560795 05 12/01/05 0.0000 3318005484 N 11/01/35 0 10274135 N67/G02 F 230,000.00 ZZ 360 229,529.85 1 5.8750 1360.54 78 5.6250 1360.54 NEWBURY PARK ACA 91320 2 10/17/05 00 0440560829 01 12/01/05 0.0000 3318005741 O 11/01/35 0 10274141 N67/G02 F 218,000.00 ZZ 360 217,434.41 1 5.7500 1272.19 52 5.5000 1272.19 SAN DIEGO CA 92113 5 10/14/05 00 0440560852 05 12/01/05 0.0000 3318005817 O 11/01/35 0 10274149 N67/G02 F 405,000.00 ZZ 360 404,172.14 1 5.8750 2395.73 76 5.6250 2395.73 LONG BEACH CA 90802 2 10/10/05 00 0440560902 01 12/01/05 0.0000 3318005969 O 11/01/35 0 10274165 N67/G02 F 357,000.00 ZZ 360 356,653.02 1 6.1250 2169.17 85 5.4950 2169.17 CEDAR GROVE NJ 07009 2 11/04/05 26 0440551273 05 01/01/06 25.0000 3318006063 O 12/01/35 0 10274169 N67/G02 F 353,000.00 ZZ 360 352,295.42 1 6.0000 2116.41 52 5.7500 2116.41 DOWNEY CA 90241 2 10/24/05 00 0440560993 05 12/01/05 0.0000 3318006069 O 11/01/35 0 10274173 N67/G02 F 433,948.00 ZZ 360 433,060.97 1 5.8750 2566.97 50 5.6250 2566.97 CARMEL CA 93923 2 10/13/05 00 0440561017 05 12/01/05 0.0000 3318006074 O 11/01/35 0 10274181 N67/G02 F 329,600.00 ZZ 360 329,002.45 1 6.5000 2083.30 80 6.2500 2083.30 WILDWOOD NJ 08260 1 10/21/05 00 0440561058 01 12/01/05 0.0000 3318006095 N 11/01/35 0 10274209 N67/G02 F 340,000.00 ZZ 360 339,301.40 1 6.3750 2121.16 74 6.1250 2121.16 CANYON COUNTRYCA 91351 5 10/19/05 00 0440561199 05 12/01/05 0.0000 3318500692 O 11/01/35 0 10274221 N67/G02 F 162,500.00 ZZ 360 162,219.40 1 6.7500 1053.97 65 6.5000 1053.97 BROOKLYN PARK MN 55444 5 10/20/05 00 0440561256 05 12/01/05 0.0000 3339002963 N 11/01/35 0 10274223 N67/G02 F 139,750.00 ZZ 360 139,508.67 1 6.7500 906.42 65 6.5000 906.42 SAVAGE MN 55378 5 10/20/05 00 0440561264 05 12/01/05 0.0000 3339002965 N 11/01/35 0 10274225 N67/G02 F 139,750.00 ZZ 360 139,508.67 1 6.7500 906.42 65 6.5000 906.42 SAVAGE MN 55378 5 10/20/05 00 0440561272 05 12/01/05 0.0000 3339002966 N 11/01/35 0 10274229 N67/G02 F 99,200.00 ZZ 360 99,024.47 1 6.6250 635.19 80 6.3750 635.19 PUEBLO CO 81001 5 10/17/05 00 0440561298 05 12/01/05 0.0000 3339003006 O 11/01/35 0 10274247 N67/G02 F 320,000.00 ZZ 360 319,724.49 1 6.7500 2075.51 77 6.5000 2075.51 BATTLE GROUND WA 98604 5 11/04/05 00 0440561389 05 01/01/06 0.0000 3339003188 O 12/01/35 0 10274251 N67/G02 F 160,400.00 ZZ 360 160,079.84 1 6.0000 961.68 65 5.7500 961.68 OLYMPIA WA 98513 1 10/24/05 00 0440561405 05 12/01/05 0.0000 3339003193 O 11/01/35 0 10274257 N67/G02 F 80,000.00 ZZ 360 79,942.10 1 7.6250 566.23 80 7.3750 566.23 DALHART TX 79022 1 11/01/05 00 0440561439 05 01/01/06 0.0000 3339003214 O 12/01/35 0 10274305 N67/G02 F 516,000.00 ZZ 360 515,018.25 1 6.2500 3177.10 80 6.0000 3177.10 PILOT HILL CA 95664 1 10/19/05 00 0440561660 03 12/01/05 0.0000 3347004023 O 11/01/35 0 10274307 N67/G02 F 468,000.00 ZZ 360 466,739.53 1 5.8750 2768.40 80 5.6250 2768.40 GUALALA CA 95445 1 10/21/05 00 0440561678 05 12/01/05 0.0000 3347004047 O 11/01/35 0 10274311 N67/G02 F 270,400.00 ZZ 360 270,137.19 1 6.1250 1642.98 80 5.8750 1642.98 MARYSVILLE CA 95901 1 11/01/05 00 0440561694 05 01/01/06 0.0000 3347004108 O 12/01/35 0 10274323 N67/G02 F 197,470.00 ZZ 360 197,056.67 1 5.7500 1152.38 80 5.5000 1152.38 COLORADO SPRINCO 80922 1 10/11/05 00 0440561751 03 12/01/05 0.0000 3935000011 O 11/01/35 0 10274325 N67/G02 F 95,400.00 ZZ 360 95,286.95 1 8.6250 742.01 90 7.6350 742.01 FORT WAYNE IN 46805 1 10/14/05 26 0440551299 05 12/01/05 30.0000 3935000014 O 11/01/35 0 10274327 N67/G02 F 140,000.00 ZZ 360 139,713.80 1 6.8750 919.70 68 6.6250 919.70 SAINT PAUL MN 55116 1 10/20/05 00 0440561769 01 12/01/05 0.0000 3935000017 O 11/01/35 0 10274331 N67/G02 F 64,000.00 ZZ 360 63,911.63 1 7.8750 464.04 80 7.6250 464.04 FORT WAYNE IN 46804 1 10/25/05 00 0440561785 05 12/01/05 0.0000 3935000033 O 11/01/35 0 10274343 N67/G02 F 149,700.00 ZZ 360 149,488.00 1 7.7500 1072.47 95 7.5000 1072.47 SUWANEE GA 30024 1 10/24/05 12 0440561843 05 12/01/05 35.0000 3955000024 O 11/01/35 0 10275267 E22/G01 F 180,000.00 ZZ 360 179,829.21 1 6.2500 1108.29 80 6.0000 1108.29 HARRISBURG PA 17110 1 11/18/05 00 0426107157 05 01/01/06 0.0000 0426107157 O 12/01/35 0 10275413 E22/G01 F 156,000.00 ZZ 360 156,000.00 1 6.3750 828.75 80 6.1250 828.75 COMMERCE CITY CO 80022 2 11/11/05 00 0426231122 05 01/01/06 0.0000 0426231122 O 12/01/35 0 10275737 E22/G01 F 160,000.00 ZZ 360 160,000.00 1 6.5000 866.67 59 6.2500 866.67 MIAMI FL 33165 5 11/14/05 00 0425952405 03 01/01/06 0.0000 0425952405 O 12/01/35 0 10275755 E22/G02 F 19,500.00 ZZ 360 19,485.53 1 7.5000 136.35 75 7.2500 136.35 BURTON MI 48529 1 11/18/05 00 0425985462 05 01/01/06 0.0000 0425985462 N 12/01/35 0 10276489 J53/J53 F 440,000.00 ZZ 360 439,221.45 1 6.6250 2817.37 80 6.3750 2817.37 BATON ROUGE LA 70808 5 10/31/05 00 03-0825 05 12/01/05 0.0000 03-0825 O 11/01/35 0 10277361 E22/G01 F 176,000.00 ZZ 360 175,844.72 1 6.6250 1126.95 80 6.3750 1126.95 INDIAN HILLS CO 80454 2 11/16/05 00 0426090429 05 01/01/06 0.0000 0426090429 O 12/01/35 0 10277393 E22/G01 F 91,000.00 ZZ 360 91,000.00 1 7.0000 530.83 65 6.7500 530.83 EASTON PA 18042 5 11/15/05 00 0426135216 05 01/01/06 0.0000 0426135216 O 12/01/35 0 10277551 E22/G02 F 176,000.00 ZZ 360 175,872.61 2 7.6250 1245.72 80 7.3750 1245.72 HAMILTON TWP. NJ 08610 5 11/15/05 00 0426189080 05 01/01/06 0.0000 0426189080 O 12/01/35 0 10278637 F62/F62 F 218,000.00 ZZ 360 217,802.92 1 6.5000 1377.91 88 6.2500 1377.91 MIAMI FL 33186 5 11/11/05 04 00000000048398 09 01/01/06 25.0000 00000000048398 O 12/01/35 0 10278867 U85/G02 F 103,900.00 ZZ 360 103,337.21 1 6.5000 656.72 80 6.2500 656.72 SHEBOYGAN WI 53081 2 11/07/05 00 0440566750 01 01/01/06 0.0000 RENZELMANN O 12/01/35 0 10279047 E22/G01 F 80,000.00 ZZ 360 79,924.10 1 6.2500 492.57 22 6.0000 492.57 ROYAL PALM BEAFL 33411 5 11/17/05 00 0425858313 03 01/01/06 0.0000 0425858313 O 12/01/35 0 10279319 E22/G02 F 18,540.00 ZZ 360 18,526.59 1 7.6250 131.22 75 7.3750 131.22 FLORENCE AL 35630 1 11/22/05 00 0426274767 05 01/01/06 0.0000 0426274767 N 12/01/35 0 10279723 462/G02 F 116,050.00 ZZ 360 115,950.08 1 6.7500 752.69 80 6.5000 752.69 KATY TX 77493 1 11/10/05 00 0440684967 03 01/01/06 0.0000 0006439772 O 12/01/35 0 10279733 462/G02 F 127,450.00 ZZ 360 127,345.53 1 7.0000 847.93 80 6.7500 847.93 YORK PA 17402 1 11/11/05 00 0440675692 05 01/01/06 0.0000 0006508774 N 12/01/35 0 10279735 462/G02 F 306,300.00 ZZ 360 306,016.31 1 6.3750 1910.91 80 6.1250 1910.91 ROUND LAKE IL 60073 1 11/17/05 00 0440684652 03 01/01/06 0.0000 0006509186 O 12/01/35 0 10279745 462/G02 F 158,800.00 ZZ 360 158,659.89 1 6.6250 1016.81 80 6.3750 1016.81 LAKE IN THE HIIL 60156 1 11/15/05 00 0440673622 01 01/01/06 0.0000 0006587471 N 12/01/35 0 10279751 462/G02 F 193,250.00 ZZ 360 193,071.01 1 6.3750 1205.63 80 6.1250 1205.63 SPRING TX 77379 1 11/10/05 00 0440676609 03 01/01/06 0.0000 0006642276 O 12/01/35 0 10279753 462/G02 F 363,650.00 ZZ 360 363,313.19 1 6.3750 2268.71 80 6.1250 2268.71 MANASSAS VA 20109 1 11/15/05 00 0440675023 09 01/01/06 0.0000 0006663173 O 12/01/35 0 10279771 462/G02 F 675,000.00 ZZ 360 674,278.38 1 5.6250 3885.68 75 5.3750 3885.68 CORONA CA 92883 1 11/01/05 00 0440670271 03 01/01/06 0.0000 0007839780 O 12/01/35 0 10279777 462/G02 F 500,000.00 ZZ 360 499,525.58 1 6.2500 3078.59 63 6.0000 3078.59 SANTA CLARA CA 95054 1 11/03/05 00 0440676864 03 01/01/06 0.0000 0008181380 O 12/01/35 0 10279783 462/G02 F 316,550.00 ZZ 360 315,947.71 1 6.2500 1949.06 80 6.0000 1949.06 RENO NV 89521 1 11/07/05 00 0440679264 03 01/01/06 0.0000 0008440182 O 12/01/35 0 10279789 462/G02 F 345,000.00 ZZ 360 344,730.87 1 7.2500 2353.51 80 7.0000 2353.51 BRADENTON FL 34203 1 11/10/05 00 0440679900 03 01/01/06 0.0000 0008642381 O 12/01/35 0 10279793 462/G02 F 310,400.00 ZZ 360 310,091.00 1 6.0000 1861.01 80 5.7500 1861.01 SAN JACINTO CA 92583 1 11/18/05 00 0440679637 05 01/01/06 0.0000 0008759383 O 12/01/35 0 10279803 462/G02 F 620,000.00 ZZ 360 619,397.40 1 6.1250 3767.19 62 5.8750 3767.19 TORRANCE CA 90503 1 11/03/05 00 0440676625 01 01/01/06 0.0000 0009057787 O 12/01/35 0 10279805 462/G02 F 222,450.00 ZZ 360 222,276.47 1 7.2500 1517.50 90 7.0000 1517.50 FORT MYERS FL 33913 1 11/04/05 01 0440677227 03 01/01/06 25.0000 0009157181 O 12/01/35 0 10279819 462/G02 F 346,550.00 ZZ 360 346,258.86 1 6.8750 2276.59 72 6.6250 2276.59 KISSIMMEE FL 34744 1 11/12/05 00 0440673135 03 01/01/06 0.0000 0009564782 O 12/01/35 0 10279821 462/G02 F 119,950.00 T 360 119,844.17 1 6.6250 768.05 80 6.3750 768.05 HOMESTEAD FL 33035 1 11/17/05 00 0440686533 03 01/01/06 0.0000 0009587395 O 12/01/35 0 10279825 462/G02 F 378,100.00 ZZ 360 377,723.60 1 6.0000 2266.91 80 5.7500 2266.91 MURRIETA CA 92563 1 11/01/05 00 0440676401 05 01/01/06 0.0000 0009685488 O 12/01/35 0 10279831 462/G02 F 290,000.00 ZZ 360 289,704.33 1 5.8750 1715.46 65 5.6250 1715.46 LA QUINTA CA 92253 1 11/14/05 00 0440676708 03 01/01/06 0.0000 0009744780 O 12/01/35 0 10279835 462/G02 F 370,750.00 ZZ 360 370,488.33 1 7.7500 2656.10 72 7.5000 2656.10 KISSIMMEE FL 34744 1 11/16/05 00 0440673192 03 01/01/06 0.0000 0009851486 O 12/01/35 0 10279837 462/G02 F 387,300.00 ZZ 360 386,941.28 1 6.3750 2416.25 80 6.1250 2416.25 STEVENSON RANCCA 91381 1 11/14/05 00 0440665602 01 01/01/06 0.0000 0009921982 O 12/01/35 0 10279839 462/G02 F 450,350.00 ZZ 360 449,901.67 1 6.0000 2700.08 78 5.7500 2700.08 MURRIETA CA 92563 1 11/08/05 00 0440673507 05 01/01/06 0.0000 0009929381 O 12/01/35 0 10279845 462/G02 F 295,450.00 ZZ 360 295,207.82 1 7.0000 1965.63 80 6.7500 1965.63 ROUND LAKE IL 60073 1 11/15/05 00 0440679595 03 01/01/06 0.0000 0009960881 O 12/01/35 0 10279851 462/G02 F 422,350.00 ZZ 360 421,929.55 1 6.0000 2532.20 80 5.7500 2532.20 MURRIETA CA 92563 1 11/16/05 00 0440686269 05 01/01/06 0.0000 0009971789 O 12/01/35 0 10279865 462/G02 F 490,800.00 ZZ 360 490,322.97 1 6.1250 2982.15 80 5.8750 2982.15 BEAUMONT CA 92223 1 11/10/05 00 0440687028 03 01/01/06 0.0000 0004880175 O 12/01/35 0 10279867 462/G02 F 604,000.00 ZZ 360 603,412.95 1 6.1250 3669.97 55 5.8750 3669.97 IRVINE CA 92620 1 11/04/05 00 0440674984 03 01/01/06 0.0000 0004895975 O 12/01/35 0 10279879 462/G02 F 363,200.00 ZZ 360 362,863.60 1 6.3750 2265.89 80 6.1250 2265.89 HEMET CA 92545 1 11/18/05 00 0440684694 05 01/01/06 0.0000 0005064274 O 12/01/35 0 10279889 462/G02 F 417,600.00 ZZ 360 417,184.28 1 6.0000 2503.73 80 5.7500 2503.73 CORONA CA 92883 1 11/16/05 00 0440679975 03 01/01/06 0.0000 0005203179 O 12/01/35 0 10279895 462/G02 F 100,950.00 ZZ 360 100,869.27 1 7.1250 680.11 80 6.8750 680.11 HUMBLE TX 77346 1 11/13/05 00 0440703742 09 01/01/06 0.0000 0005352976 N 12/01/35 0 10279897 462/G02 F 100,950.00 ZZ 360 100,869.27 1 7.1250 680.12 80 6.8750 680.12 HUMBLE TX 77346 1 11/13/05 00 0440676575 03 01/01/06 0.0000 0005353479 N 12/01/35 0 10279901 462/G02 F 598,000.00 ZZ 360 597,418.78 1 6.1250 3633.52 73 5.8750 3633.52 VALLEJO CA 94592 1 11/08/05 00 0440676542 05 01/01/06 0.0000 0005447776 O 12/01/35 0 10279911 462/G02 F 147,500.00 ZZ 360 147,349.62 1 5.8750 872.51 50 5.6250 872.51 AURORA CO 80016 1 11/08/05 00 0440684702 03 01/01/06 0.0000 0005637475 O 12/01/35 0 10279933 462/G02 F 193,900.00 ZZ 360 193,728.93 1 6.6250 1241.57 85 6.3750 1241.57 HELOTES TX 78023 1 11/09/05 11 0440679397 03 01/01/06 12.0000 0005901673 O 12/01/35 0 10279939 462/G02 F 117,600.00 ZZ 360 117,485.70 1 6.1250 714.55 75 5.8750 714.55 MINOOKA IL 60447 1 11/09/05 00 0440675403 03 01/01/06 0.0000 0005944475 O 12/01/35 0 10279945 462/G02 F 240,350.00 ZZ 360 240,167.11 1 7.3750 1660.03 80 7.1250 1660.03 CHANDLER AZ 85249 1 11/18/05 00 0440684629 03 01/01/06 0.0000 0005957378 O 12/01/35 0 10279947 462/G02 F 88,450.00 ZZ 360 88,364.03 1 6.1250 537.44 56 5.8750 537.44 ROUND ROCK TX 78664 1 11/18/05 00 0440679868 03 01/01/06 0.0000 0005983978 O 12/01/35 0 10279949 462/G02 F 392,550.00 T 360 391,784.98 1 6.1250 2385.18 80 5.8750 2385.18 LAS VEGAS NV 89131 1 10/25/05 00 0440674745 03 12/01/05 0.0000 0006033971 O 11/01/35 0 10279951 462/G02 F 220,050.00 ZZ 360 219,679.20 1 6.8750 1445.57 80 6.6250 1445.57 LAS VEGAS NV 89123 1 10/31/05 00 0440685022 03 12/01/05 0.0000 0006037576 N 11/01/35 0 10279955 462/G02 F 87,300.00 ZZ 360 87,222.98 1 6.6250 559.00 29 6.3750 559.00 ELK GROVE CA 95758 1 11/02/05 00 0440675775 01 01/01/06 0.0000 0006065775 N 12/01/35 0 10279967 462/G02 F 363,050.00 T 360 362,780.56 1 7.5000 2538.50 90 7.2500 2538.50 FT MYERS FL 34119 1 11/11/05 11 0440680635 01 01/01/06 25.0000 0006139372 O 12/01/35 0 10279983 462/G02 F 87,950.00 ZZ 360 87,868.54 1 6.3750 548.70 80 6.1250 548.70 FORT WORTH TX 76248 1 11/11/05 00 0440680809 03 01/01/06 0.0000 0006382170 O 12/01/35 0 10280015 X05/G02 F 415,000.00 ZZ 360 414,151.71 1 5.8750 2454.88 64 5.6250 2454.88 WAHIAWA HI 96786 5 10/31/05 00 0440591196 05 12/01/05 0.0000 09510314 O 11/01/35 0 10280157 X05/G02 F 91,000.00 ZZ 360 90,923.54 1 6.8750 597.81 65 6.6250 597.81 ALBANY OR 97322 2 11/08/05 00 0440578029 05 01/01/06 0.0000 18511021 N 12/01/35 0 10280211 X05/G02 F 390,000.00 ZZ 360 389,647.43 1 6.5000 2465.07 75 6.2500 2465.07 STOCKTON CA 95209 5 10/26/05 00 0440565786 05 01/01/06 0.0000 07509225 O 12/01/35 0 10280273 X05/G02 F 270,000.00 ZZ 360 269,749.93 1 6.3750 1684.45 63 6.1250 1684.45 LOS ANGELES CA 90047 5 10/31/05 00 0440566974 05 01/01/06 0.0000 11510285 O 12/01/35 0 10280447 X05/G02 F 113,600.00 ZZ 360 113,408.58 1 6.8750 746.27 80 6.6250 746.27 KETTLE FALLS WA 99141 1 10/19/05 00 0440569465 05 12/01/05 0.0000 09509093 O 11/01/35 0 10280451 X05/G02 F 241,440.00 ZZ 360 240,980.63 1 6.2500 1486.59 80 6.0000 1486.59 LANCASTER CA 93535 1 10/27/05 00 0440570570 05 12/01/05 0.0000 11510040 O 11/01/35 0 10280475 X05/G02 F 159,300.00 T 360 159,169.42 1 7.0000 1059.83 90 6.7500 1059.83 ALBUQUERQUE NM 87121 1 11/04/05 12 0440570372 03 01/01/06 25.0000 6085032 O 12/01/35 0 10280483 X05/G02 F 400,000.00 ZZ 360 399,620.46 1 6.2500 2462.87 65 6.0000 2462.87 WHITTIER AREA CA 90604 5 11/01/05 00 0440566602 05 01/01/06 0.0000 11510255 O 12/01/35 0 10280751 E22/G01 F 184,000.00 ZZ 360 184,000.00 1 7.0000 1073.33 80 6.7500 1073.33 SURPRISE AZ 85374 5 11/16/05 00 0425837671 03 01/01/06 0.0000 0425837671 O 12/01/35 0 10280753 E22/G02 F 184,800.00 ZZ 360 184,659.38 1 7.3750 1276.37 80 7.1250 1276.37 PALM COAST FL 32137 1 11/22/05 00 0425843976 05 01/01/06 0.0000 0425843976 O 12/01/35 0 10280971 E22/G02 F 260,300.00 ZZ 360 260,081.31 1 6.8750 1709.99 80 6.6250 1709.99 SALEM OR 97302 1 11/19/05 00 0426204400 05 01/01/06 0.0000 0426204400 O 12/01/35 0 10280999 E22/G02 F 280,000.00 ZZ 360 279,770.48 1 7.0000 1862.85 80 6.7500 1862.85 DUBLIN OH 43017 1 11/23/05 00 0426225066 03 01/01/06 0.0000 0426225066 O 12/01/35 0 10281101 E22/G02 F 92,700.00 ZZ 360 92,634.58 1 7.7500 664.11 90 7.5000 664.11 LAKEWOOD OH 44107 1 11/23/05 01 0426307633 05 01/01/06 30.0000 0426307633 O 12/01/35 0 10281529 X05/G02 F 184,000.00 ZZ 360 183,641.42 1 6.1250 1118.00 80 5.8750 1118.00 YACHATS OR 97498 1 10/26/05 00 0440570414 05 12/01/05 0.0000 18510242 N 11/01/35 0 10281545 X05/G02 F 252,750.00 ZZ 360 252,515.90 1 6.3750 1576.83 75 6.1250 1576.83 MERCED CA 95340 2 10/28/05 00 0440565927 05 01/01/06 0.0000 07510296 O 12/01/35 0 10282209 E22/G02 F 106,000.00 ZZ 360 105,925.18 1 7.7500 759.40 80 7.5000 759.40 CONWAY SC 29527 1 11/28/05 00 0426412805 03 01/01/06 0.0000 0426412805 O 12/01/35 0 10282479 E22/G02 F 262,200.00 ZZ 360 262,024.07 1 8.0000 1923.93 95 7.7500 1923.93 HENDERSONVILLENC 28791 1 11/28/05 10 0426145108 05 01/01/06 35.0000 0426145108 O 12/01/35 0 10282595 E22/G02 F 113,520.00 ZZ 360 113,431.44 1 7.2500 774.41 80 7.0000 774.41 CINCINNATI OH 45223 1 11/28/05 00 0426260246 05 01/01/06 0.0000 0426260246 O 12/01/35 0 10282597 E22/G01 F 75,000.00 T 360 74,930.54 1 6.3750 467.90 32 6.1250 467.90 HOUSTON TX 77095 1 11/22/05 00 0426263620 03 01/01/06 0.0000 0426263620 O 12/01/35 0 10283629 W99/G02 F 96,800.00 ZZ 360 96,716.66 1 6.7500 627.84 80 6.5000 627.84 SUMTER SC 29150 1 11/21/05 00 0440664381 05 01/01/06 0.0000 94039312 O 12/01/35 0 10284771 696/G02 F 439,500.00 ZZ 360 439,112.24 1 6.6250 2814.17 65 6.3750 2814.17 ALEXANDRIA VA 22308 5 11/16/05 00 0440575652 05 01/01/06 0.0000 24605255 O 12/01/35 0 10284793 E22/G02 F 64,000.00 ZZ 360 63,954.83 1 7.7500 458.50 78 7.5000 458.50 GEORGETOWN TN 37336 2 11/30/05 00 0426189973 05 01/01/06 0.0000 0426189973 O 12/01/35 0 10285011 E22/G02 F 202,500.00 ZZ 360 202,329.88 2 6.8750 1330.28 75 6.6250 1330.28 NASHUA NH 03060 5 11/29/05 00 0425698222 05 01/01/06 0.0000 0425698222 N 12/01/35 0 10285053 E22/G01 F 110,000.00 ZZ 360 110,000.00 1 6.5000 595.83 19 6.2500 595.83 GAINESVILLE VA 20155 1 11/29/05 00 0426349015 05 01/01/06 0.0000 0426349015 O 12/01/35 0 10285195 E22/G01 F 194,000.00 ZZ 360 194,000.00 1 6.6250 1071.04 75 6.3750 1071.04 ARVADA CO 80004 2 11/23/05 00 0425975075 05 01/01/06 0.0000 0425975075 O 12/01/35 0 10285211 E22/G02 F 184,000.00 ZZ 360 183,843.56 3 7.6250 1302.34 80 7.3750 1302.34 TORRINGTON CT 06790 1 11/29/05 00 0425994597 05 01/01/06 0.0000 0425994597 N 12/01/35 0 10285350 696/G02 F 336,250.00 T 360 336,250.00 1 7.2500 2031.51 90 7.0000 2031.51 GAINESVILLE VA 20155 1 12/28/05 12 0440837557 01 02/01/06 25.0000 33805149 O 01/01/36 0 10285671 462/G02 F 175,250.00 ZZ 360 175,106.35 1 7.0000 1165.95 80 6.7500 1165.95 MONTGOMERY IL 60538 1 11/21/05 00 0440683563 05 01/01/06 0.0000 0006617674 N 12/01/35 0 10285697 462/G02 F 382,700.00 ZZ 360 382,362.35 1 6.6250 2450.48 95 6.3750 2450.48 HUNTLEY IL 60142 1 11/22/05 11 0440716066 05 01/01/06 30.0000 0008367385 O 12/01/35 0 10285711 462/G02 F 424,950.00 ZZ 360 424,516.74 1 5.8750 2513.74 62 5.6250 2513.74 VALLEJO CA 94592 1 11/18/05 00 0440715092 05 01/01/06 0.0000 0009513284 O 12/01/35 0 10285713 462/G02 F 290,950.00 ZZ 360 290,705.57 1 6.8750 1911.34 66 6.6250 1911.34 LAND O LAKES FL 34638 1 11/16/05 00 0440716082 05 01/01/06 0.0000 0006286173 O 12/01/35 0 10285727 462/G02 F 127,150.00 ZZ 360 127,029.36 1 6.2500 782.89 80 6.0000 782.89 LITTLE ELM TX 75068 1 11/10/05 00 0440716850 03 01/01/06 0.0000 0006381370 O 12/01/35 0 10285731 462/G02 F 536,900.00 ZZ 360 536,390.57 1 6.2500 3305.79 80 6.0000 3305.79 OCEANSIDE CA 92056 1 11/04/05 00 0440681005 01 01/01/06 0.0000 0005459672 O 12/01/35 0 10285737 462/G02 F 334,550.00 ZZ 360 334,295.43 1 7.3750 2310.66 90 7.1250 2310.66 LAND O LAKES FL 34639 1 11/17/05 11 0440701993 03 01/01/06 25.0000 0006480974 O 12/01/35 0 10285767 462/G02 F 249,150.00 ZZ 360 248,935.50 1 6.7500 1615.99 70 6.5000 1615.99 SAN JACINTO CA 92583 1 11/07/05 00 0440712404 05 01/01/06 0.0000 0009594482 O 12/01/35 0 10285773 462/G02 F 748,300.00 ZZ 360 747,500.02 1 5.6250 4307.64 80 5.3750 4307.64 CORONA CA 92883 1 11/09/05 00 0440712438 05 01/01/06 0.0000 0009115288 O 12/01/35 0 10285787 462/G02 F 357,550.00 ZZ 360 357,218.84 1 6.3750 2230.65 80 6.1250 2230.65 MURRIETA CA 92562 1 11/17/05 00 0440680478 05 01/01/06 0.0000 0009208885 O 12/01/35 0 10285813 462/G02 F 383,000.00 ZZ 360 382,645.27 1 6.3750 2389.43 61 6.1250 2389.43 MOUNTAIN HOUSECA 95391 1 11/08/05 00 0440712354 05 01/01/06 0.0000 0007602584 O 12/01/35 0 10285827 462/G02 F 356,300.00 ZZ 360 355,993.23 1 6.7500 2310.96 80 6.5000 2310.96 CHICAGO IL 60630 1 11/22/05 00 0440712370 01 01/01/06 0.0000 0005835871 O 12/01/35 0 10285839 462/G02 F 236,050.00 ZZ 360 235,820.57 1 6.1250 1434.27 80 5.8750 1434.27 BAKERSFIELD CA 93311 1 11/08/05 00 0440715084 05 01/01/06 0.0000 0005822671 O 12/01/35 0 10285857 462/G02 F 719,350.00 ZZ 360 718,650.84 1 6.1250 4370.85 70 5.8750 4370.85 FREMONT CA 94539 1 11/10/05 00 0440715100 05 01/01/06 0.0000 0008321689 O 12/01/35 0 10285861 462/G02 F 279,600.00 ZZ 360 279,334.70 1 6.2500 1721.55 85 6.0000 1721.55 BAKERSFIELD CA 93312 1 11/11/05 11 0440717221 05 01/01/06 12.0000 0006430177 O 12/01/35 0 10285887 462/G02 F 664,050.00 ZZ 360 663,434.96 1 6.3750 4142.81 80 6.1250 4142.81 GLENDORA CA 91741 1 11/09/05 00 0440715035 03 01/01/06 0.0000 0004866687 O 12/01/35 0 10285891 462/G02 F 115,200.00 ZZ 360 115,093.30 1 6.3750 718.70 80 6.1250 718.70 FT WORTH TX 76052 1 11/07/05 00 0440710267 03 01/01/06 0.0000 0005466776 O 12/01/35 0 10285893 462/G02 F 488,000.00 ZZ 360 487,539.97 1 6.2500 3004.70 67 6.0000 3004.70 INDIO CA 92201 1 11/03/05 00 0440680544 03 01/01/06 0.0000 0009164187 O 12/01/35 0 10286077 462/G02 F 229,000.00 ZZ 360 228,766.52 1 5.8750 1354.63 80 5.6250 1354.63 BAKERSFIELD CA 93311 1 11/10/05 00 0440717122 05 01/01/06 0.0000 0004911376 O 12/01/35 0 10286239 X94/G02 F 76,400.00 ZZ 360 76,348.64 2 7.9900 560.06 80 7.7400 560.06 EAU CLAIRE WI 54703 1 11/29/05 00 0440669299 05 01/01/06 0.0000 992426 N 12/01/35 0 10286275 462/G02 F 212,000.00 ZZ 360 211,830.47 1 7.1250 1428.29 84 6.8750 1428.29 WESLEY CHAPEL FL 33544 1 11/11/05 04 0440712453 05 01/01/06 12.0000 0005018379 N 12/01/35 0 10286277 X64/G02 F 75,000.00 ZZ 360 74,936.99 1 6.8750 492.70 80 6.6250 492.70 DETROIT MI 48224 5 11/14/05 00 0440681401 05 01/01/06 0.0000 0000050105 O 12/01/35 0 10286333 462/G02 F 260,100.00 ZZ 360 259,864.87 1 6.5000 1644.01 80 6.2500 1644.01 GRIDLEY CA 95948 1 11/16/05 00 0440715910 05 01/01/06 0.0000 0005736475 O 12/01/35 0 10286799 E22/G02 F 76,500.00 ZZ 360 76,434.13 1 6.7500 496.18 62 6.5000 496.18 PUEBLO CO 81005 2 11/30/05 00 0426300927 05 01/01/06 0.0000 0426300927 N 12/01/35 0 10286809 E22/G02 F 57,200.00 ZZ 360 57,160.64 1 7.8750 414.74 80 7.6250 414.74 KANSAS CITY MO 64127 2 11/30/05 00 0426305462 05 01/01/06 0.0000 0426305462 N 12/01/35 0 10286821 E22/G02 F 71,000.00 ZZ 360 70,951.14 1 7.8750 514.80 78 7.6250 514.80 YAKIMA WA 98902 5 11/22/05 00 0426309183 05 01/01/06 0.0000 0426309183 O 12/01/35 0 10286845 E22/G02 F 126,000.00 ZZ 360 125,917.57 1 8.1250 935.55 90 7.8750 935.55 COLUMBUS OH 43229 1 11/30/05 11 0426323846 05 01/01/06 25.0000 0426323846 N 12/01/35 0 10286995 E22/G02 F 88,000.00 ZZ 360 87,929.63 1 7.1250 592.87 80 6.8750 592.87 PUEBLO CO 81001 1 11/29/05 00 0426390571 05 01/01/06 0.0000 0426390571 O 12/01/35 0 10287009 E22/G02 F 50,400.00 ZZ 360 50,362.60 1 7.5000 352.40 80 7.2500 352.40 JACKSON MS 39206 1 11/30/05 00 0426400792 05 01/01/06 0.0000 0426400792 N 12/01/35 0 10287155 E22/G02 F 307,200.00 ZZ 360 306,948.19 3 7.0000 2043.81 80 6.7500 2043.81 PATERSON NJ 07522 1 11/30/05 00 0426245015 05 01/01/06 0.0000 0426245015 N 12/01/35 0 10287185 E22/G02 F 351,400.00 ZZ 360 350,050.18 1 6.0000 2106.82 46 5.7500 2106.82 VISALIA CA 93292 5 11/23/05 00 0426278735 05 01/01/06 0.0000 0426278735 O 12/01/35 0 10287269 E22/G02 F 104,000.00 ZZ 360 103,922.82 1 7.5000 727.18 80 7.2500 727.18 LEO IN 46765 1 11/30/05 00 0426530754 05 01/01/06 0.0000 0426530754 O 12/01/35 0 10287281 E22/G02 F 88,800.00 ZZ 360 88,728.99 1 7.1250 598.26 80 6.8750 598.26 GARLAND TX 75041 1 11/30/05 00 0426566873 05 01/01/06 0.0000 0426566873 O 12/01/35 0 10287333 E22/G02 F 119,200.00 ZZ 360 119,097.37 4 6.7500 773.13 80 6.5000 773.13 COHOES NY 12047 1 11/30/05 00 0425598885 05 01/01/06 0.0000 0425598885 N 12/01/35 0 10287385 E22/G02 F 113,400.00 ZZ 360 113,315.84 1 7.5000 792.91 90 7.2500 792.91 BOCA RATON FL 33847 1 11/28/05 04 0425840162 01 01/01/06 25.0000 0425840162 N 12/01/35 0 10287477 E22/G02 F 92,650.00 ZZ 360 92,554.81 1 7.2500 632.04 78 7.0000 632.04 SPRINGFIELD OR 97477 2 11/29/05 00 0426070918 05 01/01/06 0.0000 0426070918 N 12/01/35 0 10287857 E82/G02 F 108,100.00 ZZ 360 108,006.93 1 6.7500 701.13 81 6.5000 701.13 PLAINWELL MI 49080 2 11/25/05 04 0401197454 05 01/01/06 12.0000 0401197454 O 12/01/35 0 10287871 E82/G02 F 110,400.00 ZZ 360 110,313.88 1 7.2500 753.12 80 7.0000 753.12 SAINT LOUIS MO 63126 2 11/25/05 00 0401191382 05 01/01/06 0.0000 0401191382 O 12/01/35 0 10287897 E82/G02 F 90,000.00 ZZ 360 89,933.21 1 7.5000 629.29 90 7.2500 629.29 DETROIT MI 48228 2 11/25/05 04 0401191309 05 01/01/06 25.0000 0401191309 N 12/01/35 0 10288435 P01/G02 F 114,400.00 ZZ 360 114,317.20 2 7.6250 809.72 80 7.3750 809.72 COHOES NY 12047 1 11/16/05 00 0440678514 05 01/01/06 0.0000 050005249 O 12/01/35 0 10288509 E82/G01 F 75,000.00 ZZ 360 74,936.99 1 6.8750 492.70 92 6.6250 492.70 OAK PARK MI 48237 2 11/14/05 04 0401190004 05 01/01/06 30.0000 0401190004 O 12/01/35 0 10288705 Q30/G02 F 92,800.00 ZZ 360 92,729.38 2 7.3750 640.95 80 7.1250 640.95 WATERBURY CT 06706 1 11/18/05 00 0440679140 05 01/01/06 0.0000 40048111 N 12/01/35 0 10288853 E22/G02 F 327,920.00 T 360 327,664.19 1 7.2500 2236.99 80 7.0000 2236.99 HOBE SOUND FL 33455 1 12/01/05 00 0424260453 03 01/01/06 0.0000 0424260453 O 12/01/35 0 10288967 E22/G02 F 52,000.00 ZZ 360 51,948.23 1 6.0000 311.77 70 5.7500 311.77 ASHEVILLE NC 28803 5 12/01/05 00 0426208849 05 01/01/06 0.0000 0426208849 N 12/01/35 0 10289013 E22/G02 F 86,400.00 ZZ 360 86,323.48 1 8.1250 641.52 90 7.8750 641.52 RICHMOND VA 23223 1 12/01/05 04 0426339511 05 01/01/06 25.0000 0426339511 N 12/01/35 0 10289033 E22/G02 F 104,500.00 ZZ 360 104,414.34 2 7.0000 695.24 78 6.7500 695.24 HAMMOND LA 70403 2 12/01/05 00 0426379053 05 01/01/06 0.0000 0426379053 N 12/01/35 0 10289035 E22/G02 F 104,500.00 ZZ 360 104,414.34 2 7.0000 695.24 78 6.7500 695.24 HAMMOND LA 70403 2 12/01/05 00 0426379376 05 01/01/06 0.0000 0426379376 N 12/01/35 0 10289037 E22/G02 F 104,500.00 ZZ 360 104,414.34 2 7.0000 695.24 78 6.7500 695.24 HAMMOND LA 70403 2 12/01/05 00 0426379699 05 01/01/06 0.0000 0426379699 N 12/01/35 0 10289039 E22/G02 F 104,500.00 ZZ 360 104,414.34 2 7.0000 695.24 78 6.7500 695.24 HAMMOND LA 70403 2 12/01/05 00 0426379723 05 01/01/06 0.0000 0426379723 N 12/01/35 0 10289041 E22/G02 F 104,500.00 ZZ 360 104,414.34 2 7.0000 695.24 78 6.7500 695.24 HAMMOND LA 70403 2 12/01/05 00 0426379749 05 01/01/06 0.0000 0426379749 N 12/01/35 0 10289055 E22/G02 F 76,800.00 ZZ 360 76,800.00 1 7.5000 537.00 80 7.2500 537.00 SEAGOVILLE TX 75159 2 12/01/05 00 0426404687 05 02/01/06 0.0000 0426404687 N 01/01/36 0 10289059 E22/G02 F 207,000.00 ZZ 360 206,842.49 1 7.3750 1429.70 90 7.1250 1429.70 LEHIGH ACRES FL 33972 1 12/01/05 10 0426413399 05 01/01/06 30.0000 0426413399 O 12/01/35 0 10289085 E22/G02 F 103,200.00 ZZ 360 103,119.49 1 7.2500 704.01 80 7.0000 704.01 LIBURN GA 30047 1 12/01/05 00 0426446019 05 01/01/06 0.0000 0426446019 O 12/01/35 0 10289105 E22/G02 F 98,400.00 ZZ 360 98,330.55 1 7.7500 704.95 80 7.5000 704.95 KANSAS CITY MO 64134 2 12/01/05 00 0426473179 03 01/01/06 0.0000 0426473179 N 12/01/35 0 10289115 E22/G02 F 54,450.00 ZZ 360 54,412.53 1 7.8750 394.80 90 7.6250 394.80 HOUSTON TX 77091 1 12/01/05 10 0426489779 05 01/01/06 25.0000 0426489779 N 12/01/35 0 10289409 Z51/Z51 F 755,000.00 ZZ 360 751,970.93 1 6.0000 4526.61 69 5.7500 4526.61 PAWLEYS ISLANDSC 29585 1 08/16/05 00 777008574 05 10/01/05 0.0000 777008574 N 09/01/35 0 10289463 Z51/Z51 F 749,500.00 ZZ 360 746,563.71 1 6.1250 4554.04 77 5.8750 4554.04 VADNAIS HEIGHTMN 55127 5 08/17/05 00 777009560 05 10/01/05 0.0000 777009560 O 09/01/35 0 10289467 Z51/Z51 F 724,000.00 ZZ 360 724,000.00 1 6.3750 3846.25 80 6.1250 3846.25 SAN BRUNO CA 94066 1 08/15/05 00 777009563 05 10/01/05 0.0000 777009563 O 09/01/35 0 10289469 Z51/Z51 F 494,400.00 ZZ 360 494,400.00 1 6.5000 2678.00 80 6.2500 2678.00 OAKLAND CA 94609 5 08/30/05 00 777009568 05 11/01/05 0.0000 777009568 O 10/01/35 0 10289473 Z51/Z51 F 540,000.00 ZZ 360 539,868.05 1 6.3750 2868.75 80 6.1250 2868.75 HALF MOON BAY CA 94019 1 08/18/05 00 777009570 05 10/01/05 0.0000 777009570 O 09/01/35 0 10289475 Z51/Z51 F 647,200.00 ZZ 360 647,200.00 1 6.3750 3438.25 80 6.1250 3438.25 SOUTH SAN FRANCA 94080 1 08/29/05 00 777009574 05 10/01/05 0.0000 777009574 O 09/01/35 0 10289481 Z51/Z51 F 496,000.00 ZZ 360 496,000.00 1 6.5000 2686.67 80 6.2500 2686.67 PINOLE CA 94564 1 09/02/05 00 777009577 05 11/01/05 0.0000 777009577 O 10/01/35 0 10289493 Z51/Z51 F 649,000.00 ZZ 360 646,517.48 1 6.2500 3996.01 74 6.0000 3996.01 SAN DIEGO CA 92115 5 09/01/05 00 777009841 05 11/01/05 0.0000 777009841 O 10/01/35 0 10289495 Z51/Z51 F 532,500.00 ZZ 360 528,848.58 1 5.8750 3149.94 75 5.6250 3149.94 ALTADENA CA 91001 5 09/02/05 00 777009842 05 11/01/05 0.0000 777009842 O 10/01/35 0 10289503 Z51/Z51 F 660,000.00 ZZ 360 659,860.09 1 6.6250 3643.75 80 6.3750 3643.75 SARATOGA CA 95070 1 09/07/05 00 777010350 05 11/01/05 0.0000 777010350 O 10/01/35 0 10290053 L21/G02 F 250,000.00 ZZ 360 249,784.75 1 6.7500 1621.50 47 6.5000 1621.50 OAKLAND CA 94601 5 11/18/05 00 0440582039 05 01/01/06 0.0000 16507969 O 12/01/35 0 10290451 P27/G02 F 92,000.00 ZZ 360 91,910.58 1 6.1250 559.00 80 5.8750 559.00 APPLETON WI 54914 2 11/17/05 00 0440687721 05 01/01/06 0.0000 3131039847 O 12/01/35 0 10292643 E22/G02 F 239,900.00 ZZ 360 239,698.46 1 6.8750 1575.97 100 6.6250 1575.97 PALM CITY FL 34990 1 12/02/05 01 0425812708 01 01/01/06 35.0000 0425812708 O 12/01/35 0 10292653 E22/G02 F 53,000.00 ZZ 360 53,000.00 1 7.2500 361.55 69 7.0000 361.55 PUEBLO CO 81003 2 12/02/05 00 0425895059 05 02/01/06 0.0000 0425895059 N 01/01/36 0 10292685 E22/G02 F 90,900.00 ZZ 360 90,830.84 1 7.3750 627.82 90 7.1250 627.82 HOPEWELL VA 23860 1 12/02/05 10 0426034419 05 01/01/06 25.0000 0426034419 N 12/01/35 0 10292739 E22/G01 F 76,475.00 ZZ 360 76,475.00 1 7.2500 521.69 95 7.0000 521.69 FLORENCE AL 35630 1 12/02/05 04 0426186169 05 02/01/06 30.0000 0426186169 O 01/01/36 0 10292743 E22/G02 F 95,400.00 ZZ 360 95,334.34 1 7.8750 691.72 90 7.6250 691.72 REDFORD MI 48240 1 12/02/05 04 0426196275 05 01/01/06 25.0000 0426196275 N 12/01/35 0 10292745 E22/G02 F 336,000.00 ZZ 360 335,756.81 1 7.6250 2378.19 80 7.3750 2378.19 CARSON CITY NV 89703 1 11/09/05 00 0426196382 05 01/01/06 0.0000 0426196382 N 12/01/35 0 10292777 E22/G02 F 28,050.00 ZZ 360 28,030.21 1 7.7500 200.95 75 7.5000 200.95 ATHENS AL 35614 1 12/02/05 00 0426269726 05 01/01/06 0.0000 0426269726 O 12/01/35 0 10292877 E22/G02 F 68,000.00 ZZ 360 67,949.53 1 7.5000 475.47 80 7.2500 475.47 TAYLORSVILLE MS 39168 1 12/02/05 00 0426410122 05 01/01/06 0.0000 0426410122 O 12/01/35 0 10292935 E22/G02 F 171,450.00 ZZ 360 171,312.89 1 7.1250 1155.09 90 6.8750 1155.09 MELBOURNE FL 32901 1 11/30/05 10 0426508818 03 01/01/06 25.0000 0426508818 N 12/01/35 0 10292951 E22/G02 F 79,200.00 ZZ 360 79,131.81 1 6.7500 513.69 80 6.5000 513.69 DALLAS TX 75219 1 12/02/05 00 0426527743 01 01/01/06 0.0000 0426527743 O 12/01/35 0 10292961 E22/G02 F 111,920.00 ZZ 360 111,842.98 1 7.8750 811.50 80 7.6250 811.50 MOBILE AL 36695 1 12/02/05 00 0426546271 05 01/01/06 0.0000 0426546271 N 12/01/35 0 10292975 E22/G02 F 311,200.00 ZZ 360 310,974.77 1 7.6250 2202.65 80 7.3750 2202.65 HOUSTON TX 77025 1 12/02/05 00 0426569836 05 01/01/06 0.0000 0426569836 N 12/01/35 0 10293373 462/G02 F 198,150.00 ZZ 360 197,983.53 1 6.8750 1301.71 95 6.6250 1301.71 FAIRVIEW TX 75069 1 11/17/05 11 0440712560 03 01/01/06 30.0000 0005684071 O 12/01/35 0 10293383 462/G02 F 77,550.00 ZZ 360 77,472.80 1 6.0000 464.96 80 5.7500 464.96 DALLAS TX 75241 1 11/08/05 00 0440701506 05 01/01/06 0.0000 0006132575 N 12/01/35 0 10293417 462/G02 F 78,750.00 ZZ 360 78,678.81 1 6.5000 497.76 80 6.2500 497.76 DALLAS TX 75241 1 11/09/05 00 0440680460 05 01/01/06 0.0000 0006016075 N 12/01/35 0 10293681 S54/G02 F 95,920.00 ZZ 360 95,848.81 1 7.5000 670.69 80 7.2500 670.69 INDIANAPOLIS IN 46268 1 12/02/05 00 0440694966 05 01/01/06 0.0000 12023109 O 12/01/35 0 10293831 477/G02 F 304,000.00 ZZ 360 303,738.26 1 6.7500 1971.74 80 6.5000 1971.74 ONTARIO CA 91764 5 11/17/05 00 0440687564 05 01/01/06 0.0000 267229 O 12/01/35 0 10295051 E22/G02 F 276,800.00 ZZ 360 276,800.00 1 7.5000 1935.43 80 7.2500 1935.43 HIALEAH FL 33014 1 12/05/05 00 0425808235 05 02/01/06 0.0000 0425808235 O 01/01/36 0 10295153 E22/G02 F 68,800.00 ZZ 360 68,748.94 3 7.5000 481.06 80 7.2500 481.06 TROY NY 12180 1 12/05/05 00 0426158960 05 01/01/06 0.0000 0426158960 N 12/01/35 0 10295185 E22/G02 F 152,000.00 ZZ 360 151,878.45 2 7.1250 1024.05 80 6.8750 1024.05 METAIRIE LA 70001 1 12/05/05 00 0426203543 05 01/01/06 0.0000 0426203543 N 12/01/35 0 10295269 E22/G02 F 197,100.00 ZZ 360 196,957.35 1 7.6250 1395.06 90 7.3750 1395.06 DEERFIELD WI 53531 2 11/29/05 04 0426322061 05 01/01/06 25.0000 0426322061 O 12/01/35 0 10295337 E22/G02 F 172,000.00 ZZ 360 171,865.83 1 7.2500 1173.34 80 7.0000 1173.34 FORT COLLINS CO 80526 2 11/29/05 00 0426359022 05 01/01/06 0.0000 0426359022 O 12/01/35 0 10295441 E22/G02 F 117,000.00 ZZ 360 117,000.00 4 7.2500 798.15 90 7.0000 798.15 LANCASTER PA 17602 1 12/05/05 04 0426457222 05 02/01/06 25.0000 0426457222 N 01/01/36 0 10295497 E22/G02 F 211,200.00 T 360 211,200.00 1 6.8750 1387.43 80 6.6250 1387.43 TEMPE AZ 85282 1 12/01/05 00 0426515300 05 02/01/06 0.0000 0426515300 O 01/01/36 0 10297137 462/G02 F 78,750.00 ZZ 360 78,678.81 1 6.5000 497.76 80 6.2500 497.76 DALLAS TX 75241 1 11/09/05 00 0440680585 05 01/01/06 0.0000 0006280473 N 12/01/35 0 10297177 Y78/G02 F 118,400.00 ZZ 240 118,154.93 1 6.3750 874.07 80 6.1250 874.07 WHITEHALL OH 43213 2 11/30/05 00 0440698371 05 01/01/06 0.0000 149095801 O 12/01/25 0 10297365 X64/G02 F 480,000.00 ZZ 360 480,000.00 1 7.1250 2850.00 80 6.8750 2850.00 LA GRANGE IL 60525 5 11/23/05 00 0440689792 05 01/01/06 0.0000 00000505426 O 12/01/35 0 10297419 975/G02 F 330,000.00 ZZ 360 329,722.76 1 6.8750 2167.87 65 6.6250 2167.87 HACIENDA HEIGHCA 91745 1 11/22/05 00 0440701910 05 01/01/06 0.0000 2054768 N 12/01/35 0 10297445 X64/G02 F 132,000.00 ZZ 360 131,880.67 1 6.5000 834.33 80 6.2500 834.33 WIXOM MI 48393 1 11/23/05 00 0440695138 01 01/01/06 0.0000 0000049392 O 12/01/35 0 10297473 P44/G02 F 649,500.00 ZZ 360 649,017.98 1 7.5000 4541.40 75 7.2500 4541.40 BOSTON MA 02116 5 12/01/05 00 0440685485 06 01/01/06 0.0000 0511290007 N 12/01/35 0 10297525 L21/G02 F 190,000.00 ZZ 360 189,832.36 1 6.6250 1216.60 75 6.3750 1216.60 HOOKSETT NH 03106 2 11/21/05 00 0440691483 05 01/01/06 0.0000 28507630 O 12/01/35 0 10297711 E22/G02 F 45,000.00 ZZ 360 45,000.00 1 8.1250 334.12 75 7.8750 334.12 MEMPHIS TN 38127 2 12/06/05 00 0426566972 05 02/01/06 0.0000 0426566972 N 01/01/36 0 10297801 E22/G02 F 105,600.00 ZZ 360 105,521.63 1 7.5000 738.37 80 7.2500 738.37 KUNA ID 83634 1 11/30/05 00 0426111712 05 01/01/06 0.0000 0426111712 N 12/01/35 0 10297829 E22/G02 F 138,600.00 ZZ 360 138,483.56 1 6.8750 910.50 80 6.6250 910.50 CORNEILUS NC 28031 1 12/06/05 00 0426188991 03 01/01/06 0.0000 0426188991 O 12/01/35 0 10297891 E22/G02 F 281,400.00 ZZ 360 281,132.99 1 6.2500 1732.63 33 6.0000 1732.63 LAKE ARROWHEADCA 92352 5 11/28/05 00 0426301255 05 01/01/06 0.0000 0426301255 N 12/01/35 0 10298043 E22/G02 F 73,600.00 ZZ 360 73,543.99 1 7.3750 508.34 80 7.1250 508.34 HANOVER PA 17331 1 12/06/05 00 0426417184 05 01/01/06 0.0000 0426417184 O 12/01/35 0 10298055 E22/G02 F 157,500.00 ZZ 360 157,388.84 1 7.7500 1128.35 90 7.5000 1128.35 MONROE NC 28110 1 12/06/05 04 0426426995 03 01/01/06 25.0000 0426426995 N 12/01/35 0 10298061 E22/G02 F 259,920.00 ZZ 360 259,701.64 1 6.8750 1707.49 80 6.6250 1707.49 OLIVE BRANCH MS 38654 1 12/06/05 00 0426439535 05 01/01/06 0.0000 0426439535 O 12/01/35 0 10298279 L21/G02 F 420,000.00 ZZ 300 419,481.52 1 7.0000 2968.48 55 6.7500 2968.48 NEWTON PA 18940 5 11/21/05 00 0440680817 05 01/01/06 0.0000 28509196 O 12/01/30 0 10303117 313/G02 F 344,400.00 ZZ 360 344,088.65 1 6.5000 2176.85 65 6.2500 2176.85 PHILADELPHIA PA 19106 1 12/01/05 00 0440714863 01 01/01/06 0.0000 10912632 O 12/01/35 0 10303345 A68/G02 F 90,800.00 ZZ 360 90,729.16 1 7.2500 619.42 80 7.0000 619.42 CARROLLTON TX 75007 1 11/28/05 00 0440704724 05 01/01/06 0.0000 2001107750 N 12/01/35 0 10303347 U85/G02 F 61,875.00 ZZ 360 61,823.02 1 6.8750 406.47 75 6.6250 406.47 INDIANAPOLIS IN 46203 2 12/01/05 00 0440676534 05 01/01/06 0.0000 0505061612 O 12/01/35 0 10303407 Q30/G02 F 286,000.00 ZZ 360 285,741.46 2 6.5000 1807.71 64 6.2500 1807.71 BROOKLYN NY 11207 5 11/29/05 00 0440681732 05 01/01/06 0.0000 40048599 O 12/01/35 0 10303689 E22/G02 F 78,300.00 ZZ 360 78,300.00 3 7.2500 534.14 90 7.0000 534.14 BINGHAMTON NY 13904 1 12/07/05 04 0425844719 05 02/01/06 25.0000 0425844719 N 01/01/36 0 10303719 E22/G02 F 90,000.00 ZZ 360 89,929.79 1 7.2500 613.96 70 7.0000 613.96 JARRETT VA 23867 1 12/07/05 00 0426004925 05 01/01/06 0.0000 0426004925 O 12/01/35 0 10303723 E22/G02 F 57,600.00 ZZ 360 57,600.00 3 7.8750 417.64 90 7.6250 417.64 SIDNEY NE 69162 1 12/07/05 04 0426029427 05 02/01/06 25.0000 0426029427 N 01/01/36 0 10303729 E22/G02 F 55,200.00 ZZ 360 55,200.00 1 7.7500 395.46 80 7.5000 395.46 BIRMINGHAM AL 35204 2 12/07/05 00 0426046074 05 02/01/06 0.0000 0426046074 N 01/01/36 0 10303741 E22/G02 F 39,750.00 ZZ 360 39,750.00 3 8.1250 295.14 75 7.8750 295.14 UTICA NY 13502 5 12/07/05 00 0426098216 05 02/01/06 0.0000 0426098216 N 01/01/36 0 10303803 E22/G02 F 80,000.00 ZZ 360 79,940.63 1 7.5000 559.37 80 7.2500 559.37 BRIDGEPORT TX 76426 1 12/07/05 00 0426269056 05 01/01/06 0.0000 0426269056 O 12/01/35 0 10303845 E22/G02 F 57,000.00 ZZ 360 57,000.00 1 7.5000 398.55 75 7.2500 398.55 GREENVILLE NC 27834 5 12/07/05 00 0426339347 05 02/01/06 0.0000 0426339347 N 01/01/36 0 10303901 E22/G02 F 250,000.00 ZZ 360 250,000.00 1 6.7500 1621.50 80 6.5000 1621.50 MUKILTEO WA 98276 1 12/05/05 00 0426382511 05 02/01/06 0.0000 0426382511 O 01/01/36 0 10303989 E22/G02 F 207,000.00 ZZ 360 207,000.00 3 7.1250 1394.60 79 6.8750 1394.60 OAK RIDGE TN 37830 2 12/07/05 00 0426444006 05 02/01/06 0.0000 0426444006 N 01/01/36 0 10304369 E82/G02 F 298,100.00 ZZ 360 298,100.00 1 7.7500 2135.62 88 7.5000 2135.62 BELLEVILLE MI 48111 2 12/06/05 04 0401194071 03 02/01/06 25.0000 0401194071 N 01/01/36 0 10304727 168/168 F 600,000.00 T 360 598,830.68 1 6.1250 3645.67 15 5.8750 3645.67 APTOS CA 95003 2 10/24/05 00 0579326411 05 12/01/05 0.0000 0579326411 O 11/01/35 0 10304729 168/168 F 600,000.00 T 360 598,830.68 1 6.1250 3645.67 14 5.8750 3645.67 APTOS CA 95003 5 10/24/05 00 0579326527 05 12/01/05 0.0000 0579326527 O 11/01/35 0 10304733 168/168 F 507,500.00 ZZ 360 506,534.41 1 6.2500 3124.77 79 6.0000 3124.77 HEMPSTEAD NY 11554 5 10/17/05 00 0579328775 05 12/01/05 0.0000 0579328775 O 11/01/35 0 10304763 168/168 F 191,200.00 ZZ 360 190,900.78 1 7.2500 1304.33 80 7.0000 1304.33 CAPE CORAL FL 33909 1 10/20/05 00 0579368378 05 12/01/05 0.0000 0579368378 O 11/01/35 0 10304771 168/168 F 420,000.00 T 360 418,080.88 1 6.5000 2654.69 70 6.2500 2654.69 NEW YORK NY 10021 1 07/29/05 00 0549954473 11 09/01/05 0.0000 0549954473 O 08/01/35 0 10304773 168/168 F 431,000.00 ZZ 360 428,933.79 1 6.2500 2653.75 74 6.0000 2653.75 EAST NORWICH NY 11732 5 07/15/05 00 0549957898 05 09/01/05 0.0000 0549957898 O 08/01/35 0 10304797 168/168 F 250,000.00 ZZ 360 249,501.00 1 6.0000 1498.88 57 5.7500 1498.88 CLARKSTOWN NY 10956 2 10/19/05 00 0569642540 05 12/01/05 0.0000 0569642540 O 11/01/35 0 10304799 168/168 F 400,000.00 ZZ 360 399,201.59 1 6.0000 2398.21 64 5.7500 2398.21 OCEANSIDE NY 11572 5 10/21/05 00 0569645310 05 12/01/05 0.0000 0569645310 O 11/01/35 0 10304805 168/168 F 266,000.00 ZZ 360 265,456.25 2 5.8750 1573.50 70 5.6250 1573.50 LINDEN NJ 07036 1 11/01/05 00 0569704995 05 12/01/05 0.0000 0569704995 N 11/01/35 0 10304819 168/168 F 66,500.00 ZZ 360 66,387.94 1 6.8750 436.86 69 6.6250 436.86 LOCKPORT NY 14094 5 10/14/05 00 0569777933 05 12/01/05 0.0000 0569777933 N 11/01/35 0 10304821 168/168 F 268,800.00 ZZ 360 268,300.74 1 6.3750 1676.97 80 6.1250 1676.97 CHOWCHILLA CA 93610 1 11/03/05 00 0569783402 05 12/01/05 0.0000 0569783402 O 11/01/35 0 10304831 168/168 F 94,000.00 ZZ 240 93,566.04 1 6.2500 687.08 65 6.0000 687.08 BEMUS POINT NY 14712 5 10/19/05 00 0569832144 05 12/01/05 0.0000 0569832144 O 11/01/25 0 10304835 168/168 F 647,500.00 ZZ 360 646,207.60 1 6.0000 3882.09 70 5.7500 3882.09 JERICHO NY 11753 5 10/26/05 00 0569853354 05 12/01/05 0.0000 0569853354 O 11/01/35 0 10304839 168/168 F 158,250.00 ZZ 360 158,103.42 3 6.3750 987.28 75 6.1250 987.28 BUFFALO NY 14222 1 11/28/05 00 0569859433 05 01/01/06 0.0000 0569859433 N 12/01/35 0 10304841 168/168 F 650,000.00 ZZ 360 648,763.28 1 6.2500 4002.17 49 6.0000 4002.17 ROSYLYN ESTATENY 11576 1 10/21/05 00 0569868629 05 12/01/05 0.0000 0569868629 O 11/01/35 0 10304851 168/168 F 359,650.00 ZZ 360 358,997.96 1 6.5000 2273.24 67 6.2500 2273.24 MOUNTAIN VIEW CA 94043 5 10/27/05 00 0569898382 01 12/01/05 0.0000 0569898382 N 11/01/35 0 10304853 168/168 F 159,120.00 ZZ 360 158,580.65 1 6.8750 1045.31 80 6.6250 1045.31 MIAMI BEACH FL 33139 1 08/17/05 00 0569902363 06 10/01/05 0.0000 0569902363 O 09/01/35 0 10304865 168/168 F 550,000.00 ZZ 360 549,073.21 2 6.8750 3613.11 68 6.6250 3613.11 FLUSHING NY 11355 2 10/25/05 00 0569917026 05 12/01/05 0.0000 0569917026 O 11/01/35 0 10304867 168/168 F 108,000.00 ZZ 360 107,818.02 1 6.8750 709.49 89 6.6250 709.49 LINCOLN PARK MI 48146 2 10/05/05 04 0569931371 05 12/01/05 35.0000 0569931371 O 11/01/35 0 10304869 168/168 F 142,400.00 ZZ 360 142,137.91 1 6.6250 911.81 80 6.3750 911.81 PEMBROKE PINESFL 33024 1 11/03/05 00 0569931738 01 12/01/05 0.0000 0569931738 O 11/01/35 0 10304871 168/168 F 200,000.00 ZZ 360 199,610.21 1 6.1250 1215.23 47 5.8750 1215.23 BIRMINGHAM MI 48009 1 10/26/05 00 0569932149 08 12/01/05 0.0000 0569932149 O 11/01/35 0 10304875 168/168 F 585,000.00 ZZ 360 583,886.95 1 6.2500 3601.95 65 6.0000 3601.95 POMONA CA 91767 1 11/02/05 00 0569947987 05 12/01/05 0.0000 0569947987 N 11/01/35 0 10304881 168/168 F 332,800.00 ZZ 360 331,821.84 1 6.2500 2049.11 80 6.0000 2049.11 HUNTINGTON BEACA 92646 1 09/22/05 00 0569959985 03 11/01/05 0.0000 0569959985 O 10/01/35 0 10304885 168/168 F 96,000.00 ZZ 360 95,803.27 1 6.2500 591.09 80 6.0000 591.09 SHERRILS FORD NC 28673 1 10/27/05 00 0569961220 05 12/01/05 0.0000 0569961220 O 11/01/35 0 10304897 168/168 F 498,000.00 ZZ 360 497,201.15 1 7.1250 3355.12 80 6.8750 3355.12 HEMPSTEAD NY 11003 1 10/24/05 00 0569974631 05 12/01/05 0.0000 0569974631 O 11/01/35 0 10304899 168/168 F 259,550.00 ZZ 360 259,078.01 1 6.5000 1640.54 80 6.2500 1640.54 SHIRLEY NY 11967 1 10/31/05 00 0569976529 05 12/01/05 0.0000 0569976529 O 11/01/35 0 10304907 168/168 F 354,000.00 ZZ 360 353,388.71 1 6.7500 2296.04 75 6.5000 2296.04 PENDLETON NY 14094 1 10/31/05 00 0569985439 05 12/01/05 0.0000 0569985439 O 11/01/35 0 10304911 168/168 F 268,000.00 ZZ 360 267,796.07 1 7.3750 1851.01 90 7.1250 1851.01 PERTH AMBOY NJ 08861 1 11/15/05 14 0569988764 01 01/01/06 25.0000 0569988764 O 12/01/35 0 10304915 168/168 F 476,000.00 ZZ 360 475,027.02 1 5.8750 2815.72 80 5.6250 2815.72 WOODBRIDGE VA 22193 5 10/31/05 00 0569991471 05 12/01/05 0.0000 0569991471 O 11/01/35 0 10304919 168/168 F 78,000.00 ZZ 360 77,858.80 2 6.7500 505.91 80 6.5000 505.91 WEST SENECA NY 14224 5 10/21/05 00 0569996686 05 12/01/05 0.0000 0569996686 O 11/01/35 0 10304939 168/168 F 750,000.00 ZZ 360 748,573.03 1 6.2500 4617.88 47 6.0000 4617.88 GARDEN CITY NY 11530 1 10/24/05 00 0579375404 05 12/01/05 0.0000 0579375404 O 11/01/35 0 10304943 168/168 F 157,000.00 ZZ 360 156,728.89 1 6.7500 1018.30 74 6.5000 1018.30 SEMINOLE FL 33777 5 10/21/05 00 0579378217 05 12/01/05 0.0000 0579378217 O 11/01/35 0 10304945 168/168 F 316,000.00 ZZ 360 315,396.56 1 6.3750 1971.43 80 6.1250 1971.43 SEATTLE WA 98144 1 10/26/05 00 0579380602 01 12/01/05 0.0000 0579380602 O 11/01/35 0 10304951 168/168 F 400,000.00 ZZ 360 399,325.97 1 6.8750 2627.72 62 6.6250 2627.72 STOCKTON CA 95219 5 10/19/05 00 0579393704 03 12/01/05 0.0000 0579393704 N 11/01/35 0 10304955 168/168 F 70,000.00 ZZ 360 69,941.18 1 6.8750 459.86 70 6.6250 459.86 GREENSBURG PA 15601 5 11/16/05 00 0579397165 05 01/01/06 0.0000 0579397165 N 12/01/35 0 10304959 168/168 F 270,000.00 ZZ 360 269,473.82 1 6.1250 1640.55 80 5.8750 1640.55 RENTON WA 98055 1 10/24/05 00 0609301632 03 12/01/05 0.0000 0609301632 O 11/01/35 0 10304965 168/168 F 316,000.00 ZZ 360 315,398.76 1 6.2500 1945.67 80 6.0000 1945.67 KIRKLAND WA 98034 1 10/19/05 00 0609308556 05 12/01/05 0.0000 0609308556 O 11/01/35 0 10304967 168/168 F 139,800.00 ZZ 360 139,486.26 1 6.5000 883.64 80 6.2500 883.64 SHARPTOWN MD 21861 5 10/20/05 00 0609310348 05 12/01/05 0.0000 0609310348 O 11/01/35 0 10304969 168/168 F 191,900.00 ZZ 360 191,599.69 1 7.2500 1309.10 80 7.0000 1309.10 MIDDLETOWN NY 10940 1 10/26/05 00 0609310666 05 12/01/05 0.0000 0609310666 O 11/01/35 0 10304981 168/168 F 320,000.00 ZZ 360 319,688.97 1 6.1250 1944.36 80 5.8750 1944.36 ELK GROVE CA 95758 1 11/03/05 00 0609326023 05 01/01/06 0.0000 0609326023 O 12/01/35 0 10304993 168/168 F 300,000.00 ZZ 360 299,386.76 1 5.8750 1774.62 61 5.6250 1774.62 COLTON CA 92324 5 11/02/05 00 0609364049 05 12/01/05 0.0000 0609364049 O 11/01/35 0 10304995 168/168 F 350,000.00 ZZ 360 349,395.60 1 6.7500 2270.10 54 6.5000 2270.10 SAN JOSE CA 95132 5 10/28/05 00 0609368753 05 12/01/05 0.0000 0609368753 N 11/01/35 0 10304997 168/168 F 117,200.00 ZZ 360 117,091.45 1 6.3750 731.18 80 6.1250 731.18 O FALLON MO 63366 2 11/07/05 00 0609371428 05 01/01/06 0.0000 0609371428 O 12/01/35 0 10305001 168/168 F 650,000.00 ZZ 360 649,412.38 1 6.5000 4108.45 78 6.2500 4108.45 ARCADIA CA 91007 1 11/03/05 00 0609379119 05 01/01/06 0.0000 0609379119 O 12/01/35 0 10305005 168/168 F 117,600.00 ZZ 360 117,482.92 1 6.0000 705.08 80 5.7500 705.08 LAKE VILLA IL 60046 1 11/14/05 00 0609384163 05 01/01/06 0.0000 0609384163 O 12/01/35 0 10305019 168/168 F 580,000.00 ZZ 360 579,449.67 1 6.2500 3571.16 68 6.0000 3571.16 SAN JOSE CA 95129 1 11/17/05 00 0609401882 05 01/01/06 0.0000 0609401882 O 12/01/35 0 10305027 168/168 F 185,600.00 ZZ 360 185,423.90 1 6.2500 1142.78 80 6.0000 1142.78 EDMONDS WA 98026 1 11/18/05 00 0609410709 05 01/01/06 0.0000 0609410709 O 12/01/35 0 10305039 168/168 F 150,300.00 ZZ 360 150,182.75 1 7.2500 1025.32 90 7.0000 1025.32 DENVER CO 80203 1 11/09/05 04 0609438468 01 01/01/06 25.0000 0609438468 O 12/01/35 0 10305041 168/168 F 121,500.00 ZZ 360 121,397.92 1 6.8750 798.17 70 6.6250 798.17 LEHIGH ACRE FL 33936 1 11/25/05 00 0609453602 05 01/01/06 0.0000 0609453602 N 12/01/35 0 10305049 E82/G02 F 224,000.00 ZZ 360 224,000.00 1 6.7500 1452.86 43 6.5000 1452.86 SHOREVIEW MN 55126 2 11/30/05 00 0401189683 05 02/01/06 0.0000 0401189683 O 01/01/36 0 10305113 975/G02 F 359,650.00 ZZ 360 359,650.00 1 6.5000 2273.23 62 6.2500 2273.23 ALTADENA AREA CA 91001 5 12/01/05 00 0440694867 05 02/01/06 0.0000 2054784 O 01/01/36 0 10305717 E22/G02 F 83,760.00 ZZ 360 83,760.00 1 6.8750 550.24 80 6.6250 550.24 HOUSTON TX 77084 1 12/07/05 00 0426157954 03 02/01/06 0.0000 0426157954 O 01/01/36 0 10305733 E22/G02 F 56,000.00 ZZ 360 56,000.00 1 7.5000 391.56 76 7.2500 391.56 ORDWAY CO 81063 2 12/08/05 00 0426225447 05 02/01/06 0.0000 0426225447 N 01/01/36 0 10305859 E22/G02 F 267,920.00 ZZ 360 267,920.00 1 6.8750 1760.04 80 6.6250 1760.04 HOOVER AL 35244 1 12/08/05 00 0426472056 03 02/01/06 0.0000 0426472056 O 01/01/36 0 10305891 E22/G02 F 67,500.00 ZZ 360 67,448.63 4 7.3750 466.21 90 7.1250 466.21 WICHITA KS 67213 1 12/06/05 04 0426515011 05 01/01/06 25.0000 0426515011 N 12/01/35 0 10305901 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.8750 365.43 90 7.6250 365.43 TULSA OK 74110 1 12/07/05 04 0426527859 05 02/01/06 25.0000 0426527859 N 01/01/36 0 10305903 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.8750 365.43 90 7.6250 365.43 TULSA OK 74110 1 12/07/05 04 0426529228 05 02/01/06 25.0000 0426529228 N 01/01/36 0 10305905 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.8750 365.43 90 7.6250 365.43 TULSA OK 74110 1 12/07/05 04 0426530002 05 02/01/06 25.0000 0426530002 N 01/01/36 0 10306081 E82/G02 F 120,000.00 ZZ 360 120,000.00 1 6.7500 778.32 49 6.5000 778.32 MARYSVILLE CA 95901 2 12/06/05 00 0401195524 05 02/01/06 0.0000 0401195524 O 01/01/36 0 10306083 E82/G02 F 511,800.00 ZZ 360 511,800.00 1 6.5000 3234.92 62 6.2500 3234.92 PINE GROVE CA 95665 2 12/06/05 00 0401193628 05 02/01/06 0.0000 0401193628 O 01/01/36 0 10306211 L21/G02 F 376,200.00 T 360 375,796.60 1 7.3750 2312.06 95 7.1250 2312.06 KISSIMMEE FL 34747 1 12/02/05 19 0440704989 03 01/01/06 30.0000 11004953 O 12/01/35 0 10306213 L21/G02 F 356,000.00 ZZ 360 356,000.00 3 6.6250 1965.42 80 6.3750 1965.42 CITY OF PHILADPA 19130 1 11/30/05 00 0440700714 05 01/01/06 0.0000 13510527 O 12/01/35 0 10306219 L21/G02 F 515,000.00 ZZ 360 514,474.93 1 5.8750 3046.42 52 5.6250 3046.42 SAN DIEGO CA 92107 5 11/22/05 00 0440696193 05 01/01/06 0.0000 16507270 O 12/01/35 0 10306223 L21/G02 F 520,000.00 ZZ 360 520,000.00 1 6.8750 2979.17 80 6.6250 2979.17 LIVERMORE CA 94550 5 11/22/05 00 0440703338 05 01/01/06 0.0000 16507642 O 12/01/35 0 10306227 L21/G02 F 399,950.00 ZZ 360 399,950.00 1 6.7500 2249.72 80 6.5000 2249.72 PITTSBURG CA 94565 1 11/28/05 00 0440704047 05 02/01/06 0.0000 16507858 O 01/01/36 0 10306229 L21/G02 F 352,000.00 ZZ 360 352,000.00 1 6.7500 1980.00 80 6.5000 1980.00 OAKLAND CA 94603 1 11/25/05 00 0440703403 05 01/01/06 0.0000 16507946 O 12/01/35 0 10306231 L21/G02 F 650,000.00 ZZ 360 650,000.00 1 6.6250 3588.54 65 6.3750 3588.54 PETALUMA CA 94952 5 11/21/05 00 0440708832 05 01/01/06 0.0000 16508052 O 12/01/35 0 10306235 L21/G02 F 288,000.00 ZZ 360 288,000.00 1 7.1250 1710.00 80 6.8750 1710.00 TWP OF VOORHEENJ 08043 1 12/02/05 00 0440696227 05 01/01/06 0.0000 16508236 O 12/01/35 0 10306237 L21/G02 F 302,900.00 ZZ 360 302,900.00 1 6.6250 1672.26 78 6.3750 1672.26 HIDDEN VALLEY CA 95467 2 11/23/05 00 0440710853 03 01/01/06 0.0000 32504859 O 12/01/35 0 10306239 L21/G02 F 392,000.00 ZZ 360 391,645.62 1 6.5000 2477.71 80 6.2500 2477.71 SUISUN CITY CA 94585 5 11/23/05 00 0440680734 05 01/01/06 0.0000 32504890 O 12/01/35 0 10306241 L21/G02 F 1,120,000.00 ZZ 360 1,120,000.00 1 6.7500 6300.00 70 6.5000 6300.00 MESA AZ 85215 2 11/23/05 00 0440696169 03 01/01/06 0.0000 35504610 O 12/01/35 0 10306247 L21/G02 F 184,000.00 ZZ 360 184,000.00 1 6.7500 1035.00 80 6.5000 1035.00 BRIDGEPORT CT 06606 1 12/01/05 00 0440708253 05 01/01/06 0.0000 70306057 O 12/01/35 0 10306253 L21/G02 F 300,000.00 ZZ 360 300,000.00 1 7.5000 1875.00 80 7.2500 1875.00 BURTONSVILLE MD 20866 1 12/01/05 00 0440707883 09 01/01/06 0.0000 70306125 O 12/01/35 0 10307585 L21/G02 F 392,000.00 ZZ 360 391,654.15 1 6.6250 2510.02 80 6.3750 2510.02 LA PLATA MD 20646 5 11/28/05 00 0440703684 05 01/01/06 0.0000 70306084 O 12/01/35 0 10307603 L21/G02 F 168,000.00 ZZ 360 167,862.29 1 7.0000 1117.71 80 6.7500 1117.71 LEBANON ME 04027 1 11/30/05 00 0440694438 05 01/01/06 0.0000 28509248 O 12/01/35 0 10307683 L21/G02 F 261,200.00 ZZ 360 260,963.87 1 6.5000 1650.96 80 6.2500 1650.96 ST ALBANS VT 05478 1 11/23/05 00 0440693117 03 01/01/06 0.0000 28608961 O 12/01/35 0 10307821 E22/G02 F 61,000.00 ZZ 360 61,000.00 1 7.6250 431.75 68 7.3750 431.75 RALEIGH NC 27614 2 12/09/05 00 0426360657 05 02/01/06 0.0000 0426360657 N 01/01/36 0 10307863 E22/G02 F 155,000.00 ZZ 360 154,882.05 1 7.3750 1070.55 71 7.1250 1070.55 CLEARLAKE CA 95422 1 11/16/05 00 0425652088 05 01/01/06 0.0000 0425652088 O 12/01/35 0 10307871 E22/G02 F 58,500.00 ZZ 360 58,500.00 2 8.0000 429.25 90 7.7500 429.25 BUFFALO NY 14150 1 12/09/05 04 0425795077 05 02/01/06 25.0000 0425795077 N 01/01/36 0 10307881 E22/G02 F 148,500.00 ZZ 360 148,500.00 1 8.1250 1102.61 90 7.8750 1102.61 PEMBERVILLE OH 43450 1 12/09/05 11 0425858610 05 02/01/06 25.0000 0425858610 N 01/01/36 0 10307907 E22/G02 F 264,000.00 ZZ 360 264,000.00 1 6.8750 1734.29 80 6.6250 1734.29 MONROE WA 98272 5 12/02/05 00 0426026910 05 02/01/06 0.0000 0426026910 O 01/01/36 0 10308101 E22/G02 F 200,000.00 ZZ 360 200,000.00 1 6.8750 1313.86 54 6.6250 1313.86 WOODINVILLE WA 98072 1 12/07/05 00 0426493367 05 02/01/06 0.0000 0426493367 O 01/01/36 0 10308179 E22/G02 F 50,000.00 ZZ 360 50,000.00 1 7.0000 332.65 67 6.7500 332.65 ORLANDO FL 32809 1 12/09/05 00 0426574109 01 02/01/06 0.0000 0426574109 O 01/01/36 0 10308205 E22/G02 F 118,750.00 ZZ 360 118,750.00 1 7.6250 840.51 95 7.3750 840.51 HOUSTON TX 77077 1 12/09/05 04 0426623005 09 02/01/06 35.0000 0426623005 O 01/01/36 0 10308229 E22/G02 F 59,552.00 ZZ 360 59,552.00 1 7.8750 431.79 80 7.6250 431.79 CANTON PA 17724 1 12/09/05 00 0426274635 05 02/01/06 0.0000 0426274635 O 01/01/36 0 10308245 E22/G02 F 75,200.00 ZZ 360 75,144.19 1 7.5000 525.81 80 7.2500 525.81 COLUMBUS GA 31907 2 11/23/05 00 0426287769 07 01/01/06 0.0000 0426287769 N 12/01/35 0 10309001 E82/G02 F 308,000.00 ZZ 360 308,000.00 1 6.7500 1997.68 42 6.5000 1997.68 FORT LAUDERDALFL 33308 2 12/02/05 00 0401192224 05 02/01/06 0.0000 0401192224 O 01/01/36 0 10309175 462/G02 F 94,100.00 ZZ 360 94,014.93 1 6.5000 594.78 80 6.2500 594.78 FORT WORTH TX 76052 1 11/17/05 00 0440705382 03 01/01/06 0.0000 0006749071 O 12/01/35 0 10309237 U85/G02 F 60,000.00 ZZ 360 59,955.47 1 7.5000 419.53 46 7.2500 419.53 MILWAUKEE WI 53215 5 12/07/05 00 0440710572 05 01/10/06 0.0000 0505022248 O 12/10/35 0 10309269 462/G02 F 486,650.00 ZZ 360 486,177.01 1 6.1250 2956.94 80 5.8750 2956.94 NORTH LAS VEGANV 89084 1 11/01/05 00 0440705234 03 01/01/06 0.0000 0005249974 O 12/01/35 0 10309475 H49/G02 F 112,700.00 ZZ 360 112,618.43 1 7.6250 797.68 80 7.3750 797.68 CHARLOTTE NC 28269 1 12/05/05 00 0440709079 03 01/01/06 0.0000 711010 N 12/01/35 0 10309511 U45/G02 F 390,000.00 ZZ 360 389,638.79 1 6.3750 2433.09 80 6.1250 2433.09 MIRAMAR FL 33027 5 11/28/05 00 0440709863 03 01/01/06 0.0000 51306774 O 12/01/35 0 10309575 H76/G02 F 95,000.00 ZZ 360 94,839.90 1 6.8750 624.09 95 6.6250 624.09 BATTLE CREEK MI 49017 2 10/28/05 01 0440696003 05 12/01/05 30.0000 676400 O 11/01/35 0 10309583 H76/G02 F 160,000.00 ZZ 240 159,688.16 1 6.8750 1228.51 73 6.6250 1228.51 BROXTON GA 31519 5 11/08/05 00 0440696359 05 01/01/06 0.0000 676803 O 12/01/25 0 10309595 H76/G02 F 315,000.00 ZZ 360 314,783.22 1 7.8750 2283.97 74 7.6250 2283.97 PASADENA MD 21122 5 11/09/05 00 0440697035 05 01/01/06 0.0000 677814 O 12/01/35 0 10310057 E23/G02 F 568,000.00 ZZ 360 567,486.52 1 6.5000 3590.15 80 6.2500 3590.15 GARDEN GROVE CA 92840 1 11/17/05 00 0440773091 05 01/01/06 0.0000 51056001 O 12/01/35 0 10310183 E23/G02 F 472,000.00 ZZ 360 471,562.83 1 6.3750 2944.67 80 6.1250 2944.67 CANOGA PARK ARCA 91303 5 11/03/05 00 0440706117 05 01/01/06 0.0000 91007930 O 12/01/35 0 10310185 E23/G02 F 560,000.00 ZZ 360 559,468.65 1 6.2500 3448.02 80 6.0000 3448.02 DOWNEY CA 90240 5 11/10/05 00 0440706141 05 01/01/06 0.0000 91008021 O 12/01/35 0 10310239 L21/G02 F 455,000.00 ZZ 360 454,578.58 1 6.3750 2838.61 52 6.1250 2838.61 PLEASANT HILL CA 94523 2 11/22/05 00 0440735256 05 01/01/06 0.0000 16507928 N 12/01/35 0 10310241 L21/G02 F 513,500.00 ZZ 360 513,024.39 1 6.3750 3203.58 51 6.1250 3203.58 WALNUT CREEK CA 94597 2 11/21/05 00 0440735231 03 01/01/06 0.0000 16507903 O 12/01/35 0 10310289 E22/G02 F 356,000.00 ZZ 360 356,000.00 1 7.2500 2428.55 80 7.0000 2428.55 VERO BEACH FL 32963 1 12/12/05 00 0426541967 05 02/01/06 0.0000 0426541967 N 01/01/36 0 10310295 E22/G02 F 53,600.00 ZZ 360 53,600.00 1 7.0000 356.60 80 6.7500 356.60 HOUSTON TX 77077 1 12/12/05 00 0426549648 09 02/01/06 0.0000 0426549648 O 01/01/36 0 10310349 E22/G02 F 84,000.00 ZZ 360 84,000.00 1 8.0000 616.36 80 7.7500 616.36 GOSHEN IN 46528 1 12/12/05 00 0426609327 05 02/01/06 0.0000 0426609327 N 01/01/36 0 10310371 E22/G02 F 162,000.00 T 360 162,000.00 1 7.5000 1132.73 90 7.2500 1132.73 PLANT CITY FL 33563 1 12/12/05 10 0426657755 05 02/01/06 25.0000 0426657755 O 01/01/36 0 10310379 E22/G02 F 384,000.00 ZZ 360 383,742.34 1 8.0000 2817.66 90 7.7500 2817.66 MIRAMAR FL 33027 1 11/15/05 01 0425219771 03 01/01/06 30.0000 0425219771 O 12/01/35 0 10310391 E22/G02 F 239,200.00 ZZ 360 239,200.00 1 7.6250 1693.04 80 7.3750 1693.04 CHELMSFORD MA 01824 1 12/12/05 00 0425717246 01 02/01/06 0.0000 0425717246 O 01/01/36 0 10310515 E22/G02 F 65,600.00 ZZ 360 65,600.00 1 7.8750 475.65 80 7.6250 475.65 SOUTH BEND IN 46617 2 12/12/05 00 0426272191 05 02/01/06 0.0000 0426272191 N 01/01/36 0 10310551 E22/G02 F 60,000.00 ZZ 360 60,000.00 1 8.1250 445.50 80 7.8750 445.50 BILOXI MS 39532 1 12/09/05 00 0426318812 05 02/01/06 0.0000 0426318812 O 01/01/36 0 10310565 E22/G02 F 62,100.00 ZZ 360 62,100.00 1 7.6250 439.54 90 7.3750 439.54 NORFOLK VA 23513 1 12/12/05 04 0426360509 05 02/01/06 25.0000 0426360509 N 01/01/36 0 10310567 E22/G02 F 335,000.00 ZZ 360 335,000.00 1 7.2500 2285.29 69 7.0000 2285.29 NIPOMO CA 93444 5 12/05/05 00 0426365367 05 02/01/06 0.0000 0426365367 O 01/01/36 0 10310605 E22/G02 F 75,600.00 ZZ 360 75,600.00 1 6.8750 496.64 80 6.6250 496.64 KRUGERVILLE TX 76227 1 12/12/05 00 0426403473 05 02/01/06 0.0000 0426403473 O 01/01/36 0 10310611 E22/G02 F 412,000.00 ZZ 360 412,000.00 1 6.8750 2706.55 80 6.6250 2706.55 LAKEVILLE MA 02347 1 12/12/05 00 0426404166 05 02/01/06 0.0000 0426404166 N 01/01/36 0 10310621 E22/G02 F 72,000.00 ZZ 360 72,000.00 1 8.0000 528.31 80 7.7500 528.31 MILTON FL 32570 1 12/12/05 00 0426416079 05 02/01/06 0.0000 0426416079 O 01/01/36 0 10310625 E22/G02 F 68,000.00 ZZ 360 68,000.00 1 7.6250 481.30 88 7.3750 481.30 KANSAS CITY MO 64130 2 12/09/05 10 0426423778 05 02/01/06 25.0000 0426423778 N 01/01/36 0 10310753 624/G02 F 260,000.00 ZZ 360 259,776.14 1 6.7500 1686.36 80 6.5000 1686.36 FRESNO CA 93727 1 11/07/05 00 0440765741 05 01/01/06 0.0000 1000094934 O 12/01/35 0 10311015 E82/G02 F 222,050.00 ZZ 360 222,050.00 1 6.7500 1440.21 90 6.5000 1440.21 MEMPHIS TN 38125 5 12/09/05 04 0401192802 05 02/01/06 25.0000 0401192802 O 01/01/36 0 10311027 E82/G02 F 127,500.00 T 360 127,500.00 1 6.6250 816.40 43 6.3750 816.40 BULLHEAD CITY AZ 86429 2 12/12/05 00 0401198882 05 02/01/06 0.0000 0401198882 O 01/01/36 0 10311049 624/G02 F 327,000.00 ZZ 360 326,711.49 1 6.6250 2093.82 35 6.3750 2093.82 HOMEWOOD CA 96141 5 11/09/05 00 0440766160 05 01/01/06 0.0000 1000094632 N 12/01/35 0 10311069 624/G02 F 296,000.00 ZZ 360 295,738.85 1 6.6250 1895.32 35 6.3750 1895.32 TAHOE CITY CA 96145 5 11/09/05 00 0440766178 05 01/01/06 0.0000 1000094634 N 12/01/35 0 10311091 624/G02 F 88,000.00 ZZ 360 87,927.86 1 7.0000 585.47 80 6.7500 585.47 SPRINGFIELD MO 65802 1 11/18/05 00 0440765550 05 01/01/06 0.0000 1000096116 O 12/01/35 0 10311129 E23/G02 F 303,000.00 ZZ 360 302,726.08 1 6.5000 1915.17 49 6.2500 1915.17 OAKLEY CA 94561 2 11/17/05 00 0440706091 05 01/01/06 0.0000 63012361 O 12/01/35 0 10311147 624/G02 F 189,000.00 ZZ 240 188,602.92 1 6.2500 1381.45 58 6.0000 1381.45 LAKE ELSINORE CA 92530 2 11/18/05 00 0440765204 05 01/01/06 0.0000 1000095852 O 12/01/25 0 10311155 E23/G02 F 650,000.00 ZZ 360 649,412.39 1 6.5000 4108.44 74 6.2500 4108.44 BENICIA CA 94510 5 11/21/05 00 0440706018 05 01/01/06 0.0000 82000859 O 12/01/35 0 10311165 L21/G02 F 400,000.00 ZZ 360 399,680.12 1 7.1250 2694.88 75 6.8750 2694.88 TOWNSHIP OF BANJ 08005 5 11/29/05 00 0440708238 05 01/01/06 0.0000 16507439 O 12/01/35 0 10311285 624/G02 F 237,250.00 ZZ 360 237,024.89 1 6.2500 1460.79 65 6.0000 1460.79 PERRIS CA 92571 5 11/07/05 00 0440766061 05 01/01/06 0.0000 1000095001 O 12/01/35 0 10311427 H58/G02 F 524,400.00 ZZ 360 524,400.00 1 6.6250 2895.12 80 6.3750 2895.12 FONTANA CA 92336 5 11/21/05 00 0440710440 05 01/01/06 0.0000 337415 O 12/01/35 0 10311435 H58/G02 F 430,400.00 ZZ 360 430,400.00 1 6.1250 2196.83 80 5.8750 2196.83 VACAVILLE CA 95687 1 11/08/05 00 0440707420 05 01/01/06 0.0000 340318 O 12/01/35 0 10311437 H58/G02 F 430,500.00 ZZ 360 430,500.00 1 6.6250 2376.72 71 6.3750 2376.72 TRACY CA 95377 2 11/16/05 00 0440703809 05 01/01/06 0.0000 340748 O 12/01/35 0 10311439 H58/G02 F 460,800.00 ZZ 360 460,800.00 1 6.3750 2448.00 80 6.1250 2448.00 ROWLAND HEIGHTCA 91748 5 11/16/05 00 0440711497 05 01/01/06 0.0000 341022 O 12/01/35 0 10311445 H58/G02 F 290,000.00 ZZ 360 290,000.00 1 5.8750 1419.79 64 5.6250 1419.79 RICHMOND CA 94804 2 11/07/05 00 0440703312 05 01/01/06 0.0000 343194 O 12/01/35 0 10311447 H58/G02 F 252,428.00 ZZ 360 252,210.67 1 6.7500 1637.24 80 6.5000 1637.24 BAKERSFIELD CA 93312 1 11/15/05 00 0440695765 05 01/01/06 0.0000 343307 O 12/01/35 0 10311457 H58/G02 F 620,000.00 ZZ 360 619,411.72 1 6.2500 3229.17 45 6.0000 3229.17 LARKSPUR CA 94939 1 10/26/05 00 0440695674 03 01/01/06 0.0000 343934 O 12/01/35 0 10311459 H58/G02 F 510,000.00 ZZ 360 510,000.00 1 6.5000 2762.50 73 6.2500 2762.50 LINCOLN CA 95648 2 11/07/05 00 0440707008 03 01/01/06 0.0000 343980 O 12/01/35 0 10311463 H58/G02 F 584,353.00 ZZ 360 584,353.00 1 6.2500 3043.51 80 6.0000 3043.51 BRENTWOOD CA 94513 1 11/07/05 00 0440705465 05 01/01/06 0.0000 344373 O 12/01/35 0 10311485 H58/G02 F 420,000.00 ZZ 360 420,000.00 1 6.1250 2143.75 44 5.8750 2143.75 VISTA CA 92084 2 11/14/05 00 0440705648 03 01/01/06 0.0000 345075 O 12/01/35 0 10311493 H58/G02 F 598,400.00 ZZ 360 598,400.00 1 6.2500 3116.67 80 6.0000 3116.67 WEST LINN OR 97068 1 11/11/05 00 0440703635 03 01/01/06 0.0000 345638 O 12/01/35 0 10311509 H58/G02 F 524,000.00 ZZ 360 524,000.00 1 6.5000 2838.33 75 6.2500 2838.33 REDONDO BEACH CA 90278 2 11/18/05 00 0440703981 01 01/01/06 0.0000 346180 O 12/01/35 0 10311517 H58/G02 F 455,000.00 ZZ 360 455,000.00 2 6.3750 2417.19 38 6.1250 2417.19 SAN FRANCISCO CA 94118 1 11/15/05 00 0440710465 05 01/01/06 0.0000 346317 O 12/01/35 0 10311521 H58/G02 F 505,000.00 ZZ 360 505,000.00 1 6.2500 2630.21 69 6.0000 2630.21 MARTINEZ CA 94553 5 11/07/05 00 0440704757 05 01/01/06 0.0000 346476 O 12/01/35 0 10311523 H58/G02 F 435,000.00 ZZ 360 435,000.00 1 6.3750 2310.94 75 6.1250 2310.94 VACAVILLE CA 95688 5 11/18/05 00 0440711273 05 01/01/06 0.0000 346498 O 12/01/35 0 10311555 H58/G02 F 600,000.00 ZZ 360 600,000.00 1 6.2500 3125.00 80 6.0000 3125.00 NOVATO CA 94947 5 11/16/05 00 0440695914 05 01/01/06 0.0000 347418 O 12/01/35 0 10311557 H58/G02 F 460,000.00 ZZ 360 460,000.00 1 6.2500 2395.83 62 6.0000 2395.83 SEBASTOPOL CA 95472 1 11/10/05 00 0440695708 05 01/01/06 0.0000 347429 O 12/01/35 0 10311591 H58/G02 F 528,000.00 ZZ 360 528,000.00 1 6.5000 2860.00 80 6.2500 2860.00 OAKLAND CA 94609 1 11/11/05 00 0440704021 05 01/01/06 0.0000 348408 O 12/01/35 0 10311623 H58/G02 F 525,000.00 ZZ 360 525,000.00 1 6.2500 2734.37 75 6.0000 2734.37 EL CERRITO CA 94530 1 11/16/05 00 0440695922 05 01/01/06 0.0000 349779 O 12/01/35 0 10312937 462/G02 F 77,550.00 ZZ 360 77,472.80 1 6.0000 464.96 80 5.7500 464.96 DALLAS TX 75241 1 11/08/05 00 0440717007 05 01/01/06 0.0000 0006129571 N 12/01/35 0 10313815 E44/G02 F 81,600.00 ZZ 360 81,600.00 1 6.7500 529.26 80 6.5000 529.26 OGDEN UT 84403 1 12/08/05 00 0440752780 05 02/01/06 0.0000 57050129 O 01/01/36 0 10314111 E22/G02 F 63,000.00 ZZ 360 63,000.00 4 8.1250 467.77 90 7.8750 467.77 OKLAHOMA CITY OK 73119 1 12/13/05 10 0426626172 05 02/01/06 25.0000 0426626172 N 01/01/36 0 10314163 E22/G02 F 340,000.00 ZZ 360 340,000.00 1 7.0000 1983.33 80 6.7500 1983.33 ROCKHALL MD 21661 1 11/23/05 00 0426067773 05 01/01/06 0.0000 0426067773 N 12/01/35 0 10314171 E22/G02 F 231,200.00 ZZ 360 231,200.00 1 6.8750 1518.82 80 6.6250 1518.82 WIMBERLEY TX 78676 1 12/07/05 00 0426136321 05 02/01/06 0.0000 0426136321 O 01/01/36 0 10314205 E22/G02 F 359,000.00 ZZ 360 359,000.00 4 6.5000 2269.12 60 6.2500 2269.12 BEND OR 97701 5 12/08/05 00 0426277562 05 02/01/06 0.0000 0426277562 N 01/01/36 0 10314223 E22/G02 F 269,000.00 ZZ 360 269,000.00 1 6.6250 1722.44 71 6.3750 1722.44 KINGSBURG CA 93631 1 12/07/05 00 0426320966 05 02/01/06 0.0000 0426320966 O 01/01/36 0 10314253 E22/G02 F 54,999.00 ZZ 360 54,999.00 1 7.7500 394.02 69 7.5000 394.02 DAVENPORT IA 52806 2 12/08/05 00 0426357828 05 02/01/06 0.0000 0426357828 O 01/01/36 0 10314365 E22/G02 F 55,800.00 ZZ 360 55,800.00 1 8.1250 414.31 90 7.8750 414.31 SAINT LOUIS MO 63136 1 12/13/05 10 0426485488 05 02/01/06 25.0000 0426485488 N 01/01/36 0 10314371 E22/G02 F 330,000.00 ZZ 360 327,848.44 1 7.3750 2279.23 70 7.1250 2279.23 HARTFORD VT 05001 2 12/08/05 00 0426488623 05 02/01/06 0.0000 0426488623 O 01/01/36 0 10314401 E22/G02 F 84,720.00 ZZ 360 84,720.00 1 7.2500 577.94 80 7.0000 577.94 KERNERSVILLE NC 27284 1 12/13/05 00 0426509139 05 02/01/06 0.0000 0426509139 O 01/01/36 0 10314425 E22/G02 F 133,600.00 ZZ 360 133,600.00 1 7.1250 793.25 80 6.8750 793.25 DULUTH GA 30096 2 12/08/05 00 0426529400 03 02/01/06 0.0000 0426529400 O 01/01/36 0 10314429 E22/G02 F 386,000.00 ZZ 360 386,000.00 1 7.1250 2600.55 74 6.8750 2600.55 LONG BEACH CA 90810 5 12/06/05 00 0426532560 05 02/01/06 0.0000 0426532560 O 01/01/36 0 10314435 E22/G02 F 100,000.00 ZZ 360 100,000.00 1 7.2500 604.17 59 7.0000 604.17 MEMPHIS TN 38104 2 12/13/05 00 0426538807 05 02/01/06 0.0000 0426538807 N 01/01/36 0 10314449 E22/G02 F 175,200.00 ZZ 360 175,200.00 3 7.3750 1076.75 80 7.1250 1076.75 WEST SPRINGFIEMA 01089 1 12/13/05 00 0426553582 05 02/01/06 0.0000 0426553582 N 01/01/36 0 10314451 E22/G02 F 63,268.00 ZZ 360 63,268.00 1 7.7500 453.26 40 7.5000 453.26 NORTH MIAMI FL 33168 5 12/08/05 00 0426554283 05 02/01/06 0.0000 0426554283 O 01/01/36 0 10314463 E22/G02 F 136,000.00 T 360 136,000.00 1 7.2500 821.67 80 7.0000 821.67 TILTON NH 03276 1 12/13/05 00 0426556643 05 02/01/06 0.0000 0426556643 O 01/01/36 0 10314689 L21/G02 F 488,000.00 ZZ 360 488,000.00 1 6.7500 2745.00 80 6.5000 2745.00 PARTLOW VA 22534 5 11/30/05 00 0440710705 05 01/01/06 0.0000 13507983 O 12/01/35 0 10314693 L21/G02 F 414,045.00 ZZ 360 414,045.00 1 7.7500 2674.04 90 7.5000 2674.04 DAVENPORT FL 33897 1 12/08/05 19 0440735298 03 02/01/06 25.0000 16508212 N 01/01/36 0 10314721 L21/G02 F 319,200.00 ZZ 360 319,200.00 1 7.1250 1895.25 80 6.8750 1895.25 SO. RIVER NJ 08882 1 11/30/05 00 0440708188 05 01/01/06 0.0000 28509202 O 12/01/35 0 10314731 L21/G02 F 559,000.00 ZZ 360 559,000.00 1 6.7500 3144.38 80 6.5000 3144.38 FREMONT CA 94536 5 11/30/05 00 0440705739 05 02/01/06 0.0000 36504761 O 01/01/36 0 10314733 L21/G02 F 200,000.00 ZZ 360 199,831.97 1 6.8750 1313.86 73 6.6250 1313.86 HOOKSETT NH 03106 1 11/22/05 00 0440710739 01 01/01/06 0.0000 28608841 O 12/01/35 0 10314745 L20/G02 F 163,529.00 ZZ 360 163,529.00 1 6.6250 902.82 80 6.3750 902.82 MERIDIAN ID 83642 1 12/12/05 00 0440765717 03 02/01/06 0.0000 12026802 O 01/01/36 0 10314795 L21/G02 F 527,920.00 ZZ 360 527,920.00 1 6.6250 2914.56 80 6.3750 2914.56 TWP OF JACKSONNJ 08527 1 12/08/05 00 0440751493 05 02/01/06 0.0000 16507748 O 01/01/36 0 10314797 L20/G02 F 256,000.00 ZZ 360 256,000.00 1 7.1250 1520.00 80 6.8750 1520.00 EAGLE ID 83616 1 12/07/05 00 0440766665 03 02/01/06 0.0000 12039795 N 01/01/36 0 10314813 L21/G02 F 1,000,000.00 T 360 1,000,000.00 1 6.7500 5625.00 53 6.5000 5625.00 WELLS ME 04090 5 12/08/05 00 0440735272 05 02/01/06 0.0000 28509358 O 01/01/36 0 10314837 U80/G02 F 705,000.00 T 360 705,000.00 1 6.3750 3745.31 75 6.1250 3745.31 PAWLEYS ISLANDSC 29585 2 11/29/05 00 0440753259 02 01/01/06 0.0000 30020895 O 12/01/35 0 10314841 W08/G02 F 272,000.00 ZZ 360 271,771.48 1 6.8750 1786.85 80 6.6250 1786.85 MIAMI FL 33182 1 12/09/05 00 0440765113 05 01/01/06 0.0000 058120 O 12/01/35 0 10314843 L21/G02 F 179,000.00 ZZ 360 178,849.61 1 6.8750 1175.91 90 6.6250 1175.91 NORTHFIELD NH 03276 5 11/23/05 10 0440708345 05 01/01/06 25.0000 28609280 O 12/01/35 0 10315345 588/G02 F 240,000.00 ZZ 360 239,812.78 1 7.2500 1637.22 80 7.0000 1637.22 RESTON VA 20191 1 11/30/05 00 0440712305 05 01/01/06 0.0000 1167583 O 12/01/35 0 10315351 588/G02 F 274,500.00 ZZ 360 274,301.33 1 7.6250 1942.89 90 7.3750 1942.89 GARFIELD CITY NJ 07026 1 11/23/05 01 0440701464 05 01/01/06 25.0000 1159807 O 12/01/35 0 10315353 588/G02 F 110,000.00 ZZ 360 109,909.84 1 7.0000 731.83 79 6.7500 731.83 TOWN OF POUGHKNY 12590 1 11/14/05 00 0440699262 05 01/01/06 0.0000 1159938 N 12/01/35 0 10315357 588/G02 F 168,000.00 ZZ 360 167,898.23 1 8.5000 1291.77 80 8.2500 1291.77 JEFFERSON TOWNNJ 07849 1 11/07/05 00 0440707982 05 01/01/06 0.0000 1161559 N 12/01/35 0 10315363 588/G02 F 100,000.00 ZZ 360 99,905.11 1 6.2500 615.72 19 6.0000 615.72 LACEY TOWNSHIPNJ 08734 1 11/02/05 00 0440698611 05 01/01/06 0.0000 1163560 O 12/01/35 0 10315365 588/G02 F 408,750.00 ZZ 360 408,514.83 1 8.7500 3215.64 75 8.5000 3215.64 TWNSP OF PARSINJ 07950 1 11/10/05 00 0440702207 03 01/01/06 0.0000 1163607 N 12/01/35 0 10315373 588/G02 F 127,500.00 ZZ 360 127,279.84 1 6.7500 826.96 57 6.5000 826.96 KENNETT SQUAREPA 19348 1 11/01/05 00 0440698470 05 12/01/05 0.0000 1164347 O 11/01/35 0 10315375 588/G02 F 168,000.00 ZZ 360 167,855.36 1 6.7500 1089.64 80 6.5000 1089.64 TOWNSHIP OF UPPA 19014 1 11/07/05 00 0440698405 05 01/01/06 0.0000 1164735 O 12/01/35 0 10315377 588/G02 F 50,000.00 ZZ 360 49,959.02 1 7.0000 332.65 14 6.7500 332.65 JEFFERSON TOWNNJ 07438 1 11/21/05 00 0440701480 05 01/01/06 0.0000 1164742 O 12/01/35 0 10315383 588/G02 F 141,700.00 ZZ 360 141,565.55 2 6.2500 872.47 65 6.0000 872.47 PHILLIPSBURG TNJ 08865 1 11/16/05 00 0440705663 05 01/01/06 0.0000 1165299 N 12/01/35 0 10315385 588/G02 F 107,000.00 ZZ 360 106,920.59 1 7.5000 748.16 79 7.2500 748.16 CAMDEN CITY NJ 08110 1 11/22/05 00 0440698413 05 01/01/06 0.0000 1165421 O 12/01/35 0 10315395 588/G02 F 122,000.00 ZZ 360 121,920.19 1 8.1250 905.85 77 7.8750 905.85 ALPHA BOROUGH NJ 08865 1 11/08/05 00 0440698934 05 01/01/06 0.0000 1165727 N 12/01/35 0 10315407 588/G02 F 195,900.00 ZZ 360 195,750.94 1 7.3750 1353.03 80 7.1250 1353.03 VERNON TOWNSHINJ 07462 1 11/21/05 00 0440698728 03 01/01/06 0.0000 1166020 O 12/01/35 0 10315413 588/G02 F 142,400.00 ZZ 360 142,105.49 1 8.1250 1057.32 80 7.8750 1057.32 MONROE TOWNSHINJ 08094 1 11/15/05 00 0440711687 01 01/01/06 0.0000 1166074 O 12/01/35 0 10315419 588/G02 F 240,800.00 ZZ 360 240,634.28 1 7.8750 1745.97 80 7.6250 1745.97 BERKELEY TOWNSNJ 08721 1 11/30/05 00 0440710846 05 01/01/06 0.0000 1166153 O 12/01/35 0 10315425 588/G02 F 84,900.00 ZZ 360 84,833.77 2 7.2500 579.17 66 7.0000 579.17 PHILADELPHIA CPA 19141 1 11/18/05 00 0440711919 05 01/01/06 0.0000 1166684 N 12/01/35 0 10315427 588/G02 F 75,000.00 ZZ 360 74,952.18 1 8.2500 563.45 75 8.0000 563.45 EMMAUS BOROUGHPA 18049 1 11/16/05 00 0440703551 07 01/01/06 0.0000 1166705 N 12/01/35 0 10315429 588/G02 F 56,500.00 ZZ 360 56,467.49 1 8.7500 444.49 67 8.5000 444.49 WHITEHALL TOWNPA 18052 1 11/21/05 00 0440701423 05 01/01/06 0.0000 1166740 N 12/01/35 0 10315431 588/G02 F 101,150.00 ZZ 360 100,882.30 1 6.0000 606.45 75 5.7500 606.45 CUMRU TOWNSHIPPA 19608 1 11/10/05 00 0440702090 05 01/01/06 0.0000 1166742 N 12/01/35 0 10315451 588/G02 F 265,700.00 ZZ 360 265,482.21 1 7.0000 1767.71 51 6.7500 1767.71 LAFAYETTE TOWNNJ 07848 2 11/21/05 00 0440708303 05 01/01/06 0.0000 1167505 O 12/01/35 0 10315769 A52/G02 F 51,000.00 ZZ 360 51,000.00 1 7.2500 347.91 75 7.0000 347.91 LITHONIA GA 30058 1 12/12/05 00 0440739670 05 02/01/06 0.0000 37576 N 01/01/36 0 10315837 L21/G02 F 999,920.00 ZZ 360 999,920.00 1 7.0000 5832.87 80 6.7500 5832.87 COLTS NECK NJ 07722 1 12/06/05 00 0440735199 05 02/01/06 0.0000 28505192 O 01/01/36 0 10316149 E22/G02 F 332,800.00 ZZ 360 332,800.00 1 7.0000 1941.33 80 6.7500 1941.33 LAFAYETTE HILLPA 19444 1 12/14/05 00 0425395282 09 02/01/06 0.0000 0425395282 O 01/01/36 0 10316213 E22/G02 F 202,500.00 ZZ 360 202,349.72 1 7.5000 1415.91 90 7.2500 1415.91 IRVINGTON NJ 07111 1 11/30/05 04 0426127890 05 01/01/06 25.0000 0426127890 N 12/01/35 0 10316341 E22/G02 F 62,400.00 ZZ 360 62,400.00 1 7.3750 430.98 80 7.1250 430.98 HITCHCOCK TX 77563 2 12/09/05 00 0426404653 03 02/01/06 0.0000 0426404653 O 01/01/36 0 10316417 E22/G02 F 332,000.00 ZZ 360 332,000.00 1 6.8750 1902.08 80 6.6250 1902.08 LAKE WORTH FL 33467 1 12/14/05 00 0426470472 03 02/01/06 0.0000 0426470472 O 01/01/36 0 10316421 E22/G02 F 56,800.00 ZZ 360 56,800.00 1 7.7500 406.92 80 7.5000 406.92 LAKETON IN 46943 5 12/09/05 00 0426473138 05 02/01/06 0.0000 0426473138 O 01/01/36 0 10316451 E22/G02 F 252,000.00 ZZ 360 252,000.00 1 6.5000 1592.81 80 6.2500 1592.81 EVERETT WA 98208 1 12/05/05 00 0426501847 05 02/01/06 0.0000 0426501847 O 01/01/36 0 10316541 E22/G02 F 270,100.00 ZZ 360 270,100.00 1 7.6250 1911.75 80 7.3750 1911.75 DELAND FL 32724 1 12/12/05 00 0426549788 03 02/01/06 0.0000 0426549788 N 01/01/36 0 10316555 E22/G02 F 58,500.00 ZZ 360 58,500.00 1 8.0000 429.25 90 7.7500 429.25 HOUSTON TX 77057 1 12/14/05 04 0426555629 01 02/01/06 25.0000 0426555629 O 01/01/36 0 10316557 E22/G02 F 415,000.00 ZZ 360 415,000.00 1 6.8750 2726.25 73 6.6250 2726.25 ONTARIO CA 91761 5 12/09/05 00 0426556676 05 02/01/06 0.0000 0426556676 O 01/01/36 0 10316641 E22/G02 F 192,000.00 ZZ 360 192,000.00 1 7.8750 1260.00 80 7.6250 1260.00 PRAIRIEVILLE LA 70769 1 12/14/05 00 0426616447 05 02/01/06 0.0000 0426616447 O 01/01/36 0 10316643 E22/G02 F 170,560.00 ZZ 360 170,560.00 1 7.2500 1163.52 80 7.0000 1163.52 COLLIERVILLE TN 38017 1 12/14/05 00 0426627360 05 02/01/06 0.0000 0426627360 N 01/01/36 0 10316729 L21/G02 F 485,000.00 ZZ 360 485,000.00 1 6.5000 2627.08 72 6.2500 2627.08 SANTA ROSA CA 95404 1 12/01/05 00 0440735223 05 02/01/06 0.0000 16507910 O 01/01/36 0 10317047 462/G02 F 472,150.00 ZZ 360 472,150.00 1 7.5000 2950.94 90 7.2500 2950.94 ROCKLEDGE FL 32955 1 11/22/05 04 0440716926 03 01/01/06 25.0000 0009517988 O 12/01/35 0 10317255 462/G02 F 153,100.00 ZZ 360 152,866.29 1 7.3750 1057.43 80 7.1250 1057.43 VALRICO FL 33594 1 10/28/05 00 0440717015 05 12/01/05 0.0000 0005615075 N 11/01/35 0 10317423 U36/G02 F 231,200.00 T 360 231,005.76 1 6.8750 1518.82 80 6.6250 1518.82 LAWRENCEVILLE GA 30044 1 12/09/05 00 0440767226 03 01/01/06 0.0000 115192005 O 12/01/35 0 10317539 462/G02 F 317,200.00 ZZ 360 317,200.00 1 6.5000 1718.17 80 6.2500 1718.17 LAS VEGAS NV 89138 1 11/02/05 00 0440716678 03 01/01/06 0.0000 0005528575 O 12/01/35 0 10317613 462/G02 F 168,000.00 ZZ 360 168,000.00 1 7.0000 980.00 80 6.7500 980.00 MIAMI FL 33186 1 11/23/05 00 0440716553 09 01/01/06 0.0000 0006509178 N 12/01/35 0 10317781 E22/G02 F 279,200.00 ZZ 360 279,200.00 4 7.0000 1857.52 80 6.7500 1857.52 HOUSTON TX 77019 1 12/14/05 00 0426302394 05 02/01/06 0.0000 0426302394 N 01/01/36 0 10317795 E22/G02 F 239,900.00 ZZ 360 239,900.00 1 7.2500 1449.40 80 7.0000 1449.40 CAPE CORAL FL 33991 1 12/15/05 00 0426325874 05 02/01/06 0.0000 0426325874 O 01/01/36 0 10317817 E22/G02 F 215,800.00 ZZ 360 215,800.00 1 7.2500 1472.14 80 7.0000 1472.14 FRISCO TX 75035 1 12/15/05 00 0426409272 03 02/01/06 0.0000 0426409272 O 01/01/36 0 10317881 E22/G02 F 169,600.00 ZZ 360 169,600.00 1 7.5000 1060.00 80 7.2500 1060.00 SUMNER WA 98390 1 12/12/05 00 0426481255 03 02/01/06 0.0000 0426481255 N 01/01/36 0 10317929 E22/G02 F 50,000.00 ZZ 360 50,000.00 1 6.2500 307.86 67 6.0000 307.86 JACKSON MI 49201 5 12/14/05 00 0426528501 05 02/01/06 0.0000 0426528501 N 01/01/36 0 10317979 E22/G02 F 143,000.00 ZZ 360 143,000.00 1 7.2500 975.51 69 7.0000 975.51 OXFORD GA 30054 2 12/15/05 00 0426572269 05 02/01/06 0.0000 0426572269 N 01/01/36 0 10317983 E22/G02 F 267,000.00 ZZ 360 267,000.00 4 7.3750 1844.10 73 7.1250 1844.10 SPOKANE VALLEYWA 99216 2 12/08/05 00 0426575700 05 02/01/06 0.0000 0426575700 N 01/01/36 0 10317989 E22/G02 F 228,000.00 ZZ 360 228,000.00 1 6.3750 1211.25 80 6.1250 1211.25 FRANKFORD TWP.NJ 07826 1 12/15/05 00 0426578100 05 02/01/06 0.0000 0426578100 N 01/01/36 0 10318007 E22/G02 F 400,000.00 ZZ 360 400,000.00 3 7.1250 2375.00 80 6.8750 2375.00 LOS ANGELES CA 90063 1 12/12/05 00 0426604476 05 02/01/06 0.0000 0426604476 N 01/01/36 0 10318009 E22/G02 F 172,000.00 ZZ 360 172,000.00 3 7.8750 1247.12 80 7.6250 1247.12 NEW HAVEN CT 06511 1 12/15/05 00 0426605457 05 02/01/06 0.0000 0426605457 N 01/01/36 0 10318045 E22/G02 F 61,200.00 ZZ 360 61,200.00 1 7.7500 438.44 85 7.5000 438.44 SOUTH BEND IN 46616 2 12/15/05 04 0426642591 05 02/01/06 20.0000 0426642591 N 01/01/36 0 10318065 E22/G02 F 117,120.00 ZZ 360 117,120.00 4 7.8750 768.60 80 7.6250 768.60 GRAND RAPIDS MI 49509 1 12/15/05 00 0426668430 05 02/01/06 0.0000 0426668430 N 01/01/36 0 10318501 462/G02 F 94,400.00 ZZ 360 94,308.25 1 6.1250 573.59 80 5.8750 573.59 MANOR TX 78653 1 11/17/05 00 0440708451 03 01/01/06 0.0000 0006802870 O 12/01/35 0 10318531 462/G02 F 132,400.00 ZZ 360 132,294.12 1 7.1250 892.01 80 6.8750 892.01 SAN ANTONIO TX 78251 1 11/11/05 00 0440708402 03 01/01/06 0.0000 0005825476 O 12/01/35 0 10318939 W08/G02 F 273,240.00 ZZ 360 273,240.00 1 6.5000 1480.05 80 6.2500 1480.05 VERO BEACH FL 32966 1 12/14/05 00 0440768448 03 02/01/06 0.0000 057909M O 01/01/36 0 10319395 E82/G02 F 156,750.00 ZZ 360 156,750.00 1 6.8750 1029.74 83 6.6250 1029.74 LEE'S SUMMIT MO 64081 2 12/09/05 04 0401194618 05 02/01/06 12.0000 0401194618 O 01/01/36 0 10319417 Z37/G02 F 78,000.00 ZZ 360 78,000.00 1 7.5000 545.39 80 7.2500 545.39 MT. CLEMENS MI 48043 1 12/02/05 00 0440753580 05 02/01/06 0.0000 12012104 N 01/01/36 0 10319421 Z37/G02 F 175,200.00 ZZ 360 175,200.00 4 7.6250 1240.05 80 7.3750 1240.05 KILLEEN TX 76542 1 12/08/05 00 0440768497 05 02/01/06 0.0000 12035963 O 01/01/36 0 10319549 T53/G02 F 340,000.00 ZZ 360 340,000.00 1 7.1250 2018.75 80 6.8750 2018.75 PASADENA CA 91107 1 12/06/05 00 0440768380 01 02/01/06 0.0000 31003506 O 01/01/36 0 10319681 E22/G02 F 88,000.00 ZZ 360 88,000.00 1 6.5000 476.67 80 6.2500 476.67 HOLLYWOOD FL 33020 1 12/16/05 00 0426045068 01 02/01/06 0.0000 0426045068 N 01/01/36 0 10319705 E22/G02 F 77,800.00 ZZ 360 77,800.00 2 7.2500 530.73 80 7.0000 530.73 ALVIN TX 77511 1 12/09/05 00 0426163556 05 02/01/06 0.0000 0426163556 N 01/01/36 0 10319707 E22/G02 F 77,800.00 ZZ 360 77,800.00 2 7.2500 530.73 80 7.0000 530.73 ALVIN TX 77551 1 12/09/05 00 0426164042 05 02/01/06 0.0000 0426164042 N 01/01/36 0 10319709 E22/G02 F 77,800.00 ZZ 360 77,800.00 2 7.2500 530.73 80 7.0000 530.73 ALVIN TX 77511 1 12/09/05 00 0426164083 05 02/01/06 0.0000 0426164083 N 01/01/36 0 10319711 E22/G02 F 77,800.00 ZZ 360 77,800.00 2 7.2500 530.73 80 7.0000 530.73 ALVIN TX 77511 1 12/09/05 00 0426164216 05 02/01/06 0.0000 0426164216 N 01/01/36 0 10319715 E22/G02 F 130,400.00 ZZ 360 130,400.00 4 7.5000 815.00 80 7.2500 815.00 MEMPHIS TN 38122 1 12/16/05 00 0426179735 05 02/01/06 0.0000 0426179735 N 01/01/36 0 10319717 E22/G02 F 61,100.00 ZZ 360 61,100.00 1 7.3750 375.51 78 7.1250 375.51 TULSA OK 74116 2 12/16/05 00 0426179925 05 02/01/06 0.0000 0426179925 N 01/01/36 0 10319725 E22/G02 F 249,550.00 ZZ 360 249,345.45 1 7.0000 1660.26 68 6.7500 1660.26 MERIDEN CT 06451 1 11/29/05 00 0426204657 05 01/01/06 0.0000 0426204657 O 12/01/35 0 10319783 E22/G02 F 55,800.00 ZZ 360 55,800.00 1 8.1250 414.31 90 7.8750 414.31 SICKLERVILLE NJ 08081 1 12/16/05 04 0426338000 09 02/01/06 25.0000 0426338000 N 01/01/36 0 10319807 E22/G02 F 200,000.00 ZZ 360 200,000.00 1 7.2500 1364.35 80 7.0000 1364.35 DENVER CO 80202 5 12/12/05 00 0426364618 06 02/01/06 0.0000 0426364618 O 01/01/36 0 10319817 E22/G02 F 52,715.00 ZZ 360 52,715.00 1 8.0000 386.80 95 7.7500 386.80 TONAWANDA NY 14150 1 12/16/05 04 0426377982 05 02/01/06 30.0000 0426377982 O 01/01/36 0 10319835 E22/G02 F 47,750.00 ZZ 360 47,750.00 1 7.5000 333.87 63 7.2500 333.87 GASTONIA NC 28054 2 12/16/05 00 0426401766 05 02/01/06 0.0000 0426401766 N 01/01/36 0 10319861 E22/G02 F 509,000.00 ZZ 360 509,000.00 1 8.1250 3446.35 75 7.8750 3446.35 KNOXVILLE TN 37934 2 12/16/05 00 0426438743 05 02/01/06 0.0000 0426438743 N 01/01/36 0 10319879 E22/G02 F 213,500.00 ZZ 360 213,500.00 1 6.5000 1349.47 70 6.2500 1349.47 MURFREESBORO TN 37128 1 12/16/05 00 0426455853 03 02/01/06 0.0000 0426455853 O 01/01/36 0 10319883 E22/G02 F 74,000.00 ZZ 360 74,000.00 1 7.0000 492.32 50 6.7500 492.32 ALBERTVILLE AL 35951 1 12/16/05 00 0426458535 05 02/01/06 0.0000 0426458535 N 01/01/36 0 10319893 E22/G02 F 48,750.00 ZZ 360 48,750.00 1 7.8750 353.47 75 7.6250 353.47 KETTERING OH 45420 1 12/16/05 00 0426460911 05 02/01/06 0.0000 0426460911 N 01/01/36 0 10320059 E22/G02 F 78,400.00 ZZ 360 78,400.00 1 7.8750 514.50 80 7.6250 514.50 KANSAS CITY KS 66102 1 12/16/05 00 0426574042 05 02/01/06 0.0000 0426574042 N 01/01/36 0 10320077 E22/G02 F 501,600.00 ZZ 360 501,600.00 1 6.8750 2873.75 80 6.6250 2873.75 LOS ANGELES CA 90042 1 12/07/05 00 0426585246 05 02/01/06 0.0000 0426585246 O 01/01/36 0 10320101 E22/G02 F 197,600.00 ZZ 360 197,600.00 1 7.2500 1347.98 80 7.0000 1347.98 BAKERSFIELD CA 93307 1 12/05/05 00 0426603452 05 02/01/06 0.0000 0426603452 O 01/01/36 0 10320187 E22/G02 F 174,400.00 ZZ 360 174,400.00 1 7.6250 1108.17 80 7.3750 1108.17 LEE'S SUMMIT MO 64064 1 12/15/05 00 0426692414 03 02/01/06 0.0000 0426692414 N 01/01/36 0 10320205 E22/G02 F 75,001.00 ZZ 360 75,001.00 1 7.5000 468.76 58 7.2500 468.76 GRAND JUNCTIONCO 81501 1 12/16/05 00 0426732434 05 02/01/06 0.0000 0426732434 N 01/01/36 0 10320207 E22/G02 F 75,001.00 ZZ 360 75,001.00 1 7.5000 468.76 60 7.2500 468.76 GRAND JUNCTIONCO 81503 1 12/16/05 00 0426733986 05 02/01/06 0.0000 0426733986 N 01/01/36 0 10320483 E82/G02 F 78,800.00 ZZ 360 78,800.00 1 7.3750 544.25 76 7.1250 544.25 MONROE WI 53566 2 12/15/05 00 0401205265 05 02/01/06 0.0000 0401205265 O 01/01/36 0 10320609 462/G02 F 411,000.00 ZZ 360 410,628.45 1 6.5000 2597.80 80 6.2500 2597.80 DOWELL MD 20629 1 11/23/05 00 0440752467 01 01/01/06 0.0000 0010017788 O 12/01/35 0 10321245 168/168 F 592,000.00 ZZ 360 590,818.37 1 6.0000 3549.34 80 5.7500 3549.34 SYOSSET NY 11791 1 10/06/05 00 0569746914 05 12/01/05 0.0000 0569746914 O 11/01/35 0 10323473 E22/G02 F 76,000.00 ZZ 360 76,000.00 1 7.1250 512.03 80 6.8750 512.03 SUMMERVILLE SC 29483 2 12/19/05 00 0425670270 05 02/01/06 0.0000 0425670270 N 01/01/36 0 10323515 E22/G02 F 52,500.00 ZZ 360 52,500.00 1 7.7500 376.12 80 7.5000 376.12 GREAT FALLS MT 59405 5 12/13/05 00 0426128062 05 02/01/06 0.0000 0426128062 O 01/01/36 0 10323529 E22/G02 F 468,000.00 ZZ 360 468,000.00 3 7.3750 2876.25 80 7.1250 2876.25 DORCHESTER MA 02125 2 12/14/05 00 0426206918 05 02/01/06 0.0000 0426206918 O 01/01/36 0 10323587 E22/G02 F 96,000.00 ZZ 360 96,000.00 1 7.0000 638.69 80 6.7500 638.69 MAGNA UT 84044 2 12/13/05 00 0426331815 05 02/01/06 0.0000 0426331815 O 01/01/36 0 10323611 E22/G02 F 125,820.00 ZZ 360 125,820.00 4 7.8750 912.28 90 7.6250 912.28 HUNTSVILLE AL 35805 1 12/19/05 04 0426362521 05 02/01/06 25.0000 0426362521 N 01/01/36 0 10323617 E22/G02 F 307,000.00 ZZ 360 307,000.00 4 7.2500 1854.79 53 7.0000 1854.79 NORTH ARLINGTONJ 07031 5 12/13/05 00 0426367793 05 02/01/06 0.0000 0426367793 O 01/01/36 0 10323627 E22/G02 F 300,000.00 T 360 300,000.00 1 7.2500 2046.53 74 7.0000 2046.53 SOUTH PALM BEAFL 33480 5 12/14/05 00 0426377206 08 02/01/06 0.0000 0426377206 O 01/01/36 0 10323651 E22/G02 F 184,250.00 ZZ 360 184,250.00 1 7.0000 1225.82 59 6.7500 1225.82 LAKE HUGHES CA 93532 2 12/13/05 00 0426409058 05 02/01/06 0.0000 0426409058 O 01/01/36 0 10323713 E22/G02 F 47,250.00 ZZ 360 47,250.00 1 7.5000 330.38 75 7.2500 330.38 PHILADELPHIA PA 19120 1 12/19/05 00 0426458220 07 02/01/06 0.0000 0426458220 N 01/01/36 0 10323731 E22/G02 F 160,000.00 ZZ 360 160,000.00 1 7.6250 1132.47 80 7.3750 1132.47 TACOMA WA 98404 5 12/13/05 00 0426468781 05 02/01/06 0.0000 0426468781 N 01/01/36 0 10323755 E22/G02 F 74,250.00 ZZ 360 74,250.00 1 7.3750 512.83 90 7.1250 512.83 MOUNT DORA FL 32757 1 12/19/05 10 0426489860 07 02/01/06 25.0000 0426489860 N 01/01/36 0 10323803 E22/G02 F 67,600.00 ZZ 240 67,600.00 1 7.3750 539.43 80 7.1250 539.43 DALLAS TX 75217 2 12/13/05 00 0426517702 03 02/01/06 0.0000 0426517702 O 01/01/26 0 10323839 E22/G02 F 90,000.00 ZZ 360 90,000.00 1 6.8750 515.63 60 6.6250 515.63 PEORIA AZ 85345 5 12/13/05 00 0426545984 01 02/01/06 0.0000 0426545984 N 01/01/36 0 10323887 E22/G02 F 65,600.00 ZZ 360 65,600.00 1 8.1250 487.08 72 7.8750 487.08 BELTON MO 64012 2 12/19/05 00 0426577722 05 02/01/06 0.0000 0426577722 N 01/01/36 0 10323961 E22/G02 F 51,200.00 ZZ 360 51,200.00 1 7.7500 366.80 80 7.5000 366.80 BRIGHTON AL 35020 2 12/19/05 00 0426624979 05 02/01/06 0.0000 0426624979 N 01/01/36 0 10324007 E22/G02 F 64,000.00 ZZ 360 64,000.00 1 8.1250 475.20 80 7.8750 475.20 READING PA 19606 1 12/19/05 00 0426652475 07 02/01/06 0.0000 0426652475 N 01/01/36 0 10324021 E22/G02 F 74,250.00 ZZ 360 74,250.00 1 7.3750 512.83 90 7.1250 512.83 MOUNT DORA FL 32757 1 12/19/05 01 0426659298 07 02/01/06 25.0000 0426659298 N 01/01/36 0 10324045 E22/G02 F 168,869.00 ZZ 360 168,869.00 1 7.0000 985.07 80 6.7500 985.07 COMMERCE CITY CO 80022 1 12/19/05 00 0426674537 03 02/01/06 0.0000 0426674537 O 01/01/36 0 10324083 E22/G02 F 54,800.00 ZZ 360 54,800.00 1 7.8750 359.63 40 7.6250 359.63 GRAND JUNCTIONCO 81503 1 12/19/05 00 0426739033 03 02/01/06 0.0000 0426739033 N 01/01/36 0 10324087 E22/G02 F 129,600.00 ZZ 360 129,600.00 1 7.5000 810.00 80 7.2500 810.00 KATY TX 77449 1 12/19/05 00 0426755278 03 02/01/06 0.0000 0426755278 O 01/01/36 0 10324597 E82/G02 F 396,000.00 ZZ 360 396,000.00 1 7.0000 2634.60 50 6.7500 2634.60 PEYTON CO 80831 2 12/16/05 00 0401200423 05 02/01/06 0.0000 0401200423 O 01/01/36 0 10324613 E82/G02 F 360,000.00 ZZ 360 360,000.00 1 7.2500 2455.83 73 7.0000 2455.83 TACOMA WA 98406 2 12/16/05 00 0401205067 05 02/01/06 0.0000 0401205067 O 01/01/36 0 10325669 825/G02 F 336,000.00 ZZ 360 336,000.00 1 6.7500 1890.00 80 6.5000 1890.00 COPPER MOUNTAICO 80443 1 12/15/05 00 0440768992 01 02/01/06 0.0000 12013265 O 01/01/36 0 10326173 944/G02 F 330,000.00 ZZ 360 329,387.09 1 6.3750 2058.77 76 6.1250 2058.77 LOS BANOS CA 93635 5 10/26/05 00 0440768976 05 12/01/05 0.0000 1001852474 O 11/01/35 0 10326205 E22/G02 F 48,750.00 ZZ 360 48,750.00 4 7.2500 332.56 65 7.0000 332.56 ROCHESTER NY 14609 1 12/20/05 00 0425798246 05 02/01/06 0.0000 0425798246 N 01/01/36 0 10326219 E22/G02 F 75,001.00 ZZ 360 75,001.00 1 7.2500 511.64 54 7.0000 511.64 OMAHA NE 68164 1 12/20/05 00 0425985272 05 02/01/06 0.0000 0425985272 O 01/01/36 0 10326271 E22/G02 F 352,750.00 ZZ 360 352,750.00 1 7.5000 2466.48 85 7.2500 2466.48 FARIHOPE AL 36532 5 12/15/05 04 0426289922 05 02/01/06 12.0000 0426289922 O 01/01/36 0 10326329 E22/G02 F 81,600.00 ZZ 360 81,600.00 1 6.0000 489.23 80 5.7500 489.23 PORT TREVERTONPA 17864 1 12/20/05 00 0426642161 05 02/01/06 0.0000 0426642161 O 01/01/36 0 10326343 E22/G02 F 49,900.00 ZZ 360 49,900.00 1 7.7500 357.49 72 7.5000 357.49 BRYSON CITY NC 28713 1 12/20/05 00 0426354684 05 02/01/06 0.0000 0426354684 O 01/01/36 0 10326369 E22/G02 F 237,600.00 ZZ 360 237,600.00 1 6.8750 1560.86 80 6.6250 1560.86 SANDY UT 84092 2 12/15/05 00 0426413373 05 02/01/06 0.0000 0426413373 O 01/01/36 0 10326423 E22/G02 F 97,000.00 ZZ 360 97,000.00 1 7.0000 645.34 72 6.7500 645.34 HATTIESBURG MS 39401 2 12/19/05 00 0426483012 05 02/01/06 0.0000 0426483012 O 01/01/36 0 10326469 E22/G02 F 33,154.00 ZZ 360 33,154.00 1 8.1250 246.17 95 7.8750 246.17 CONNELL WA 99326 1 12/15/05 04 0426531984 05 02/01/06 30.0000 0426531984 O 01/01/36 0 10326485 E22/G02 F 448,000.00 ZZ 360 448,000.00 4 7.6250 2846.67 80 7.3750 2846.67 PEABODY MA 01960 1 12/20/05 00 0426537890 05 02/01/06 0.0000 0426537890 N 01/01/36 0 10326511 E22/G02 F 69,000.00 ZZ 360 69,000.00 1 7.5000 482.46 80 7.2500 482.46 PUEBLO CO 81003 2 12/20/05 00 0426547592 05 02/01/06 0.0000 0426547592 N 01/01/36 0 10326519 E22/G02 F 63,180.00 ZZ 360 63,180.00 2 8.1250 427.78 90 7.8750 427.78 CHATTANOOGA TN 37411 1 12/20/05 10 0426550463 05 02/01/06 25.0000 0426550463 N 01/01/36 0 10327083 L21/G02 F 425,000.00 ZZ 360 425,000.00 1 6.5000 2302.08 59 6.2500 2302.08 SEBASTOPOL CA 95472 2 12/07/05 00 0440754075 05 02/01/06 0.0000 16507513 O 01/01/36 0 10327103 L21/G02 F 502,400.00 ZZ 360 502,400.00 1 6.8750 2878.33 80 6.6250 2878.33 SAN LORENZO CA 94580 1 12/09/05 00 0440770444 05 02/01/06 0.0000 16508271 O 01/01/36 0 10327169 E86/G02 F 638,400.00 ZZ 360 638,400.00 1 7.0000 3724.00 70 6.7500 3724.00 BROOKLYN NY 11229 1 11/21/05 00 0440770311 05 01/01/06 0.0000 1003487 O 12/01/35 0 10327171 E86/G02 F 434,000.00 ZZ 360 434,000.00 1 5.8750 2124.79 49 5.6250 2124.79 TUALATIN OR 97062 1 10/25/05 00 0440778256 05 12/01/05 0.0000 1003769 O 11/01/35 0 10327177 E86/G02 F 480,000.00 ZZ 360 480,000.00 1 5.7500 2300.00 80 5.5000 2300.00 YUCCA VALLEY CA 92284 5 10/04/05 00 0440770774 05 12/01/05 0.0000 1011359 O 11/01/35 0 10327179 E86/G02 F 560,000.00 ZZ 360 560,000.00 2 6.0000 2800.00 70 5.7500 2800.00 LOS ANGELES CA 91601 5 10/18/05 00 0440788578 05 12/01/05 0.0000 1015526 N 11/01/35 0 10327181 E86/G02 F 640,000.00 ZZ 360 640,000.00 1 6.5000 3466.67 80 6.2500 3466.67 FORESTBURGH NY 12777 1 11/10/05 00 0440771517 05 01/01/06 0.0000 1015952 O 12/01/35 0 10327187 E86/G02 F 850,000.00 ZZ 360 850,000.00 1 6.5000 4604.17 73 6.2500 4604.17 CLARKSBURG MD 20871 2 11/10/05 00 0440770295 05 01/01/06 0.0000 1018218 O 12/01/35 0 10327189 E86/G02 F 449,240.00 ZZ 360 449,240.00 1 6.3750 2386.59 70 6.1250 2386.59 FALLBROOK CA 92028 1 10/26/05 00 0440771301 05 12/01/05 0.0000 1027754 N 11/01/35 0 10327199 E86/G02 F 480,000.00 T 360 479,522.16 1 6.0000 2877.84 54 5.7500 2877.84 NEVADA CITY CA 95959 1 11/02/05 00 0440772507 05 01/01/06 0.0000 1022644 O 12/01/35 0 10327201 E86/G02 F 483,000.00 T 360 483,000.00 1 6.6250 2666.56 70 6.3750 2666.56 BROOKLYN NY 11231 5 11/18/05 00 0440771624 01 01/01/06 0.0000 1022835 O 12/01/35 0 10327211 E86/G02 F 530,000.00 ZZ 360 530,000.00 1 6.5000 2870.83 68 6.2500 2870.83 VALLEY CENTER CA 92082 2 10/21/05 00 0440771129 05 12/01/05 0.0000 1024948 O 11/01/35 0 10327213 E86/G02 F 515,250.00 ZZ 360 514,712.05 1 5.7500 3006.86 75 5.5000 3006.86 RANCHO SANTA MCA 92688 1 11/02/05 00 0440772861 03 01/01/06 0.0000 1026291 O 12/01/35 0 10327215 E86/G02 F 525,000.00 ZZ 360 525,000.00 1 6.2500 2734.37 70 6.0000 2734.37 LONG BEACH CA 90807 1 11/01/05 00 0440772705 05 01/01/06 0.0000 1028764 O 12/01/35 0 10327217 E86/G02 F 693,750.00 ZZ 360 693,750.00 1 6.8750 3974.61 75 6.6250 3974.61 BREWSTER NY 10509 1 11/28/05 00 0440772499 05 01/01/06 0.0000 1029139 O 12/01/35 0 10327219 E86/G02 F 577,200.00 T 360 577,200.00 1 8.1250 3908.12 70 7.8750 3908.12 SEA ISLE CITY NJ 08243 1 11/04/05 00 0440775641 01 01/01/06 0.0000 1029196 O 12/01/35 0 10327221 E86/G02 F 460,000.00 ZZ 360 460,000.00 1 5.6250 2156.25 68 5.3750 2156.25 LOS ANGELES CA 91364 1 11/01/05 00 0440772242 05 01/01/06 0.0000 1030369 O 12/01/35 0 10327223 E86/G02 F 456,000.00 ZZ 360 456,000.00 1 6.1250 2327.50 60 5.8750 2327.50 BEND OR 97701 1 10/27/05 00 0440772325 03 12/01/05 0.0000 1032694 N 11/01/35 0 10327225 E86/G02 F 476,000.00 ZZ 360 476,000.00 1 6.5000 2578.33 80 6.2500 2578.33 BRADENTON FL 34209 1 11/02/05 00 0440788321 03 12/01/05 0.0000 1033463 O 11/01/35 0 10327227 E86/G02 F 904,500.00 ZZ 360 904,500.00 2 7.5000 5653.13 75 7.2500 5653.13 BROOKLYN NY 11229 2 11/15/05 00 0440772770 05 01/01/06 0.0000 1035084 O 12/01/35 0 10327231 E86/G02 F 540,000.00 ZZ 360 540,000.00 1 6.3750 2868.75 80 6.1250 2868.75 WAINSCOTT NY 11975 1 11/09/05 00 0440770071 05 01/01/06 0.0000 1036434 O 12/01/35 0 10327239 E86/G02 F 583,200.00 ZZ 360 583,200.00 1 6.5000 3159.00 80 6.2500 3159.00 SUTTER CREEK CA 95685 1 11/01/05 00 0440771392 05 01/01/06 0.0000 1038648 O 12/01/35 0 10327249 E86/G02 F 619,500.00 ZZ 360 618,349.40 1 6.3750 3864.87 62 6.1250 3864.87 SEVERNA PARK MD 21146 2 10/25/05 00 0440771491 05 12/01/05 0.0000 1042389 O 11/01/35 0 10327251 E86/G02 F 521,250.00 ZZ 360 521,250.00 1 6.1250 2660.55 75 5.8750 2660.55 WASHINGTON DC 20002 1 10/18/05 00 0440772887 05 12/01/05 0.0000 1042470 O 11/01/35 0 10327253 E86/G02 F 577,500.00 ZZ 360 577,500.00 1 7.1250 3428.91 70 6.8750 3428.91 RAMONA CA 92065 1 11/16/05 00 0440770923 05 01/01/06 0.0000 1042709 N 12/01/35 0 10327257 E86/G02 F 540,000.00 ZZ 360 540,000.00 1 6.7500 3037.50 80 6.5000 3037.50 LOMA LINDA CA 92354 1 11/02/05 00 0440770972 05 01/01/06 0.0000 1043830 O 12/01/35 0 10327265 E86/G02 F 424,000.00 ZZ 360 424,000.00 1 7.2500 2561.67 80 7.0000 2561.67 PHOENIX AZ 85022 1 11/08/05 00 0440771640 05 01/01/06 0.0000 1045423 O 12/01/35 0 10327279 E86/G02 F 612,500.00 ZZ 360 612,500.00 1 6.5000 3317.71 70 6.2500 3317.71 ORINDA CA 94563 1 11/03/05 00 0440772002 05 01/01/06 0.0000 1048926 O 12/01/35 0 10327285 E86/G02 F 441,000.00 ZZ 360 441,000.00 1 6.8750 2526.56 70 6.6250 2526.56 LAS VEGAS NV 89134 2 11/02/05 00 0440788115 03 01/01/06 0.0000 1048957 N 12/01/35 0 10327287 E86/G02 F 432,000.00 ZZ 360 432,000.00 1 7.6250 2745.00 80 7.3750 2745.00 ALEXANDRIA VA 22309 1 11/14/05 00 0440772879 05 01/01/06 0.0000 1048983 O 12/01/35 0 10327307 E86/G02 F 640,000.00 ZZ 360 640,000.00 1 7.6250 4066.67 80 7.3750 4066.67 FOLLY BEACH SC 29439 1 11/21/05 00 0440772986 05 01/01/06 0.0000 1054602 N 12/01/35 0 10327311 E86/G02 F 516,250.00 ZZ 360 516,250.00 1 6.0000 2581.25 70 5.7500 2581.25 WEST NYACK NY 10994 1 11/30/05 00 0440770097 05 01/01/06 0.0000 1056215 O 12/01/35 0 10327315 E86/G02 F 940,000.00 ZZ 360 938,295.85 1 6.5000 5941.44 80 6.2500 5941.44 MEDFORD OR 97504 1 10/27/05 00 0440772408 05 12/01/05 0.0000 1056944 O 11/01/35 0 10327317 E86/G02 F 917,000.00 ZZ 360 917,000.00 1 6.8750 5253.65 71 6.6250 5253.65 LA HABRA HEIGHCA 90631 5 11/21/05 00 0440772804 05 01/01/06 0.0000 1057144 O 12/01/35 0 10327319 E86/G02 F 864,000.00 ZZ 360 864,000.00 1 6.7500 4860.00 80 6.5000 4860.00 BERKELEY HEIGHNJ 07922 1 12/01/05 00 0440772515 05 01/01/06 0.0000 1057408 O 12/01/35 0 10327323 E86/G02 F 775,000.00 ZZ 360 773,525.47 1 6.2500 4771.81 70 6.0000 4771.81 NORTH TOPSAIL NC 28460 5 10/03/05 00 0440772812 05 12/01/05 0.0000 1057981 O 11/01/35 0 10327331 E86/G02 F 483,000.00 ZZ 360 483,000.00 1 6.8750 2767.19 70 6.6250 2767.19 ACWORTH GA 30101 2 11/23/05 00 0440772416 03 01/01/06 0.0000 1059610 O 12/01/35 0 10327333 E86/G02 F 783,200.00 ZZ 360 782,491.97 1 6.5000 4950.36 80 6.2500 4950.36 STAFFORD VA 22556 1 11/18/05 00 0440772028 05 01/01/06 0.0000 1060456 O 12/01/35 0 10327347 E86/G02 F 435,000.00 ZZ 360 435,000.00 1 6.8750 2492.19 70 6.6250 2492.19 VENTURA CA 93003 5 11/08/05 00 0440775625 05 01/01/06 0.0000 1063335 O 12/01/35 0 10327371 E86/G02 F 607,500.00 ZZ 360 607,500.00 1 8.3750 4239.84 75 8.1250 4239.84 EAST FALMOUTH MA 02536 1 11/22/05 00 0440775880 05 01/01/06 0.0000 1067485 O 12/01/35 0 10327375 E86/G02 F 980,000.00 ZZ 360 980,000.00 1 6.8750 5614.58 70 6.6250 5614.58 SARASOTA FL 34238 1 11/22/05 00 0440772200 03 01/01/06 0.0000 1068435 N 12/01/35 0 10327379 E86/G02 F 630,000.00 ZZ 360 630,000.00 1 7.0000 3675.00 70 6.7500 3675.00 EL DORADO HILLCA 95762 5 11/10/05 00 0440790715 05 01/01/06 0.0000 1068861 O 12/01/35 0 10327381 E86/G02 F 444,500.00 ZZ 360 444,500.00 1 7.0000 2592.92 70 6.7500 2592.92 EL DORADO HILLCA 95762 5 11/10/05 00 0440790657 05 01/01/06 0.0000 1068878 N 12/01/35 0 10327389 E86/G02 F 910,000.00 ZZ 360 910,000.00 3 6.8750 5213.54 65 6.6250 5213.54 SAN FRANCISCO CA 94110 5 11/15/05 00 0440788453 05 01/01/06 0.0000 1069478 N 12/01/35 0 10327405 E86/G02 F 518,000.00 ZZ 360 518,000.00 1 6.7500 2913.75 70 6.5000 2913.75 SAN RAMON CA 94583 1 11/21/05 00 0440772838 05 01/01/06 0.0000 1075141 O 12/01/35 0 10327407 E86/G02 F 860,683.00 ZZ 360 860,683.00 1 8.1250 5827.54 75 7.8750 5827.54 SIMI VALLEY CA 93065 1 11/18/05 00 0440772853 03 01/01/06 0.0000 1075184 O 12/01/35 0 10327411 E86/G02 F 419,300.00 ZZ 360 419,300.00 1 7.7500 2707.98 70 7.5000 2707.98 SAN FRANCISCO CA 94110 1 11/18/05 00 0440770535 05 01/01/06 0.0000 1076151 O 12/01/35 0 10327417 E86/G02 F 430,400.00 ZZ 360 430,400.00 1 6.3750 2286.50 80 6.1250 2286.50 MILTON DE 19968 2 11/22/05 00 0440772465 05 01/01/06 0.0000 1077561 O 12/01/35 0 10327419 E86/G02 F 444,000.00 ZZ 360 444,000.00 1 7.5000 2775.00 80 7.2500 2775.00 WESTFIELD NJ 07090 1 11/21/05 00 0440770832 05 01/01/06 0.0000 1077917 N 12/01/35 0 10327427 E86/G02 F 420,750.00 ZZ 360 420,750.00 1 7.1250 2498.20 70 6.8750 2498.20 CHANDLER AZ 85249 1 11/18/05 00 0440772283 03 01/01/06 0.0000 1078957 N 12/01/35 0 10327429 E86/G02 F 511,000.00 ZZ 360 511,000.00 1 6.8750 2927.60 70 6.6250 2927.60 BREA CA 92821 1 11/30/05 00 0440771426 05 01/01/06 0.0000 1079313 O 12/01/35 0 10327431 E86/G02 F 870,000.00 ZZ 360 870,000.00 1 8.1250 5890.62 75 7.8750 5890.62 LOS ANGELES CA 90035 1 11/22/05 00 0440771053 05 01/01/06 0.0000 1079428 O 12/01/35 0 10327437 E86/G02 F 608,930.00 ZZ 360 608,930.00 1 7.5000 3805.81 70 7.2500 3805.81 FORT MYERS FL 33908 1 11/23/05 00 0440770303 03 01/01/06 0.0000 1082167 O 12/01/35 0 10327443 E86/G02 F 518,000.00 ZZ 360 518,000.00 1 7.0000 3021.67 70 6.7500 3021.67 SANTA CLARA CA 95054 1 11/17/05 00 0440773000 01 01/01/06 0.0000 1082811 O 12/01/35 0 10327447 E86/G02 F 460,000.00 ZZ 360 460,000.00 1 7.5000 2875.00 80 7.2500 2875.00 SCOTTSDALE AZ 85258 1 11/22/05 00 0440771103 03 01/01/06 0.0000 1083484 O 12/01/35 0 10327449 E86/G02 F 875,000.00 ZZ 360 875,000.00 1 7.7500 5651.04 70 7.5000 5651.04 MICHIGAN CITY IN 46360 1 12/06/05 00 0440771855 05 01/01/06 0.0000 1083633 N 12/01/35 0 10327451 E86/G02 F 519,200.00 ZZ 360 519,200.00 1 7.2500 3136.83 80 7.0000 3136.83 JONESBORO GA 30236 1 11/30/05 00 0440807824 03 01/01/06 0.0000 1083700 O 12/01/35 0 10327457 E86/G02 F 536,720.00 ZZ 360 536,720.00 1 6.8750 3074.96 80 6.6250 3074.96 ANTIOCH CA 94509 1 12/02/05 00 0440771137 05 02/01/06 0.0000 1085978 O 01/01/36 0 10327465 E86/G02 F 700,732.00 ZZ 360 700,732.00 1 8.2500 4817.53 80 8.0000 4817.53 TROY MI 48098 1 11/29/05 00 0440771509 05 01/01/06 0.0000 1087573 O 12/01/35 0 10327467 E86/G02 F 461,300.00 ZZ 360 461,300.00 1 5.7500 2210.40 70 5.5000 2210.40 GARDEN GROVE CA 92845 1 11/25/05 00 0440775633 05 01/01/06 0.0000 1088423 O 12/01/35 0 10327483 E86/G02 F 538,849.00 ZZ 360 538,849.00 1 7.7500 3480.06 70 7.5000 3480.06 ELLICOTT CITY MD 21043 1 11/23/05 00 0440775732 03 01/01/06 0.0000 827650 N 12/01/35 0 10327487 E86/G02 F 536,100.00 ZZ 360 536,100.00 1 7.8750 3518.16 70 7.6250 3518.16 CONCORD CA 94519 1 11/17/05 00 0440770915 03 01/01/06 0.0000 917562 O 12/01/35 0 10327489 E86/G02 F 456,850.00 ZZ 360 456,850.00 1 7.2500 2760.14 70 7.0000 2760.14 CHANDLER AZ 85249 1 11/23/05 00 0440772895 03 01/01/06 0.0000 917741 N 12/01/35 0 10327491 E86/G02 F 479,500.00 ZZ 360 479,066.52 1 6.5000 3030.77 70 6.2500 3030.77 MENLO PARK CA 94025 5 11/10/05 00 0440788222 05 01/01/06 0.0000 928705 N 12/01/35 0 10327499 E86/G02 F 665,000.00 ZZ 360 665,000.00 3 6.5000 3602.08 70 6.2500 3602.08 CHICAGO IL 60613 1 11/30/05 00 0440771467 05 01/01/06 0.0000 986585 N 12/01/35 0 10327501 E86/G02 F 630,000.00 T 360 630,000.00 1 6.8750 3609.38 70 6.6250 3609.38 HIGHLAND MILLSNY 10930 1 11/17/05 00 0440808897 05 01/01/06 0.0000 988404 O 12/01/35 0 10327505 E86/G02 F 515,400.00 ZZ 360 515,400.00 1 7.3750 3167.56 70 7.1250 3167.56 ALDIE VA 20105 1 11/04/05 00 0440771046 03 01/01/06 0.0000 991714 O 12/01/35 0 10329113 E22/G02 F 66,000.00 ZZ 360 66,000.00 1 7.3750 455.85 78 7.1250 455.85 PETERSBURG VA 23803 2 12/21/05 00 0425915030 05 02/01/06 0.0000 0425915030 N 01/01/36 0 10329123 E22/G02 F 72,000.00 ZZ 360 72,000.00 1 8.1250 534.60 90 7.8750 534.60 FORT WAYNE IN 46835 5 12/21/05 04 0426589669 05 02/01/06 25.0000 0426589669 N 01/01/36 0 10329185 E22/G02 F 480,000.00 ZZ 360 480,000.00 1 6.8750 2750.00 80 6.6250 2750.00 ATLANTA GA 30319 1 12/21/05 00 0426620027 05 02/01/06 0.0000 0426620027 O 01/01/36 0 10329195 E22/G02 F 68,000.00 ZZ 360 68,000.00 2 7.7500 487.16 80 7.5000 487.16 WILLIAMSPORT PA 17701 1 12/21/05 00 0426626347 05 02/01/06 0.0000 0426626347 O 01/01/36 0 10329215 E22/G02 F 140,371.00 ZZ 360 140,371.00 1 7.0000 818.83 80 6.7500 818.83 CHICO CA 95926 1 12/19/05 00 0426646816 01 02/01/06 0.0000 0426646816 O 01/01/36 0 10329265 E22/G02 F 75,920.00 ZZ 360 75,920.00 1 7.3750 524.36 80 7.1250 524.36 HOUSTON TX 77082 1 12/20/05 00 0426680120 03 02/01/06 0.0000 0426680120 O 01/01/36 0 10329273 E22/G02 F 252,000.00 ZZ 360 252,000.00 1 7.3750 1740.50 80 7.1250 1740.50 MONITOR WA 98836 1 12/15/05 00 0426696696 05 02/01/06 0.0000 0426696696 O 01/01/36 0 10329275 E22/G02 F 234,000.00 ZZ 360 234,000.00 1 7.0000 1365.00 56 6.7500 1365.00 SUISUN CITY CA 94585 2 12/14/05 00 0426696860 05 02/01/06 0.0000 0426696860 N 01/01/36 0 10329297 E22/G02 F 232,425.00 ZZ 360 232,425.00 1 7.5000 1452.66 75 7.2500 1452.66 PLANT CITY FL 33566 1 12/21/05 00 0426714036 03 02/01/06 0.0000 0426714036 N 01/01/36 0 10329321 E22/G02 F 250,000.00 ZZ 360 250,000.00 1 6.8750 1642.32 50 6.6250 1642.32 MORGAN HILL CA 95037 1 12/16/05 00 0426748109 09 02/01/06 0.0000 0426748109 N 01/01/36 0 10329345 E22/G02 F 175,000.00 ZZ 360 175,000.00 1 6.5000 1106.12 35 6.2500 1106.12 FAR ROCKAWAY NY 11691 1 12/21/05 00 0426106639 05 02/01/06 0.0000 0426106639 O 01/01/36 0 10329397 E22/G02 F 258,700.00 ZZ 360 258,700.00 1 8.1250 1751.61 90 7.8750 1751.61 FARMINGTON HILMI 48331 1 12/21/05 04 0426289856 05 02/01/06 25.0000 0426289856 N 01/01/36 0 10329437 E22/G02 F 650,000.00 ZZ 360 650,000.00 1 6.5000 3520.83 75 6.2500 3520.83 COLORADO SPRINCO 80919 2 12/16/05 00 0426362026 05 02/01/06 0.0000 0426362026 O 01/01/36 0 10329443 E22/G02 F 72,900.00 ZZ 360 72,900.00 1 7.3750 503.50 90 7.1250 503.50 MILTON NC 27305 2 12/21/05 04 0426376125 05 02/01/06 25.0000 0426376125 N 01/01/36 0 10329459 E22/G02 F 287,000.00 ZZ 360 287,000.00 1 7.1250 1933.57 68 6.8750 1933.57 CLARK FORK ID 83811 5 12/15/05 00 0426390118 05 02/01/06 0.0000 0426390118 O 01/01/36 0 10329523 E22/G02 F 198,400.00 ZZ 360 198,400.00 1 7.0000 1319.96 80 6.7500 1319.96 ENOLA PA 17025 2 12/16/05 00 0426460481 05 02/01/06 0.0000 0426460481 O 01/01/36 0 10329573 E22/G02 F 113,508.00 ZZ 360 113,508.00 1 7.8750 744.90 80 7.6250 744.90 WINSTON SALEM NC 27105 1 12/21/05 00 0426511622 05 02/01/06 0.0000 0426511622 O 01/01/36 0 10329581 E22/G02 F 76,000.00 T 360 76,000.00 1 6.6250 486.64 43 6.3750 486.64 PALM BAY FL 32907 1 12/21/05 00 0426515821 05 02/01/06 0.0000 0426515821 O 01/01/36 0 10329617 E22/G02 F 250,000.00 ZZ 360 250,000.00 1 7.3750 1726.69 90 7.1250 1726.69 EASLEY SC 29640 5 12/16/05 04 0426541256 05 02/01/06 30.0000 0426541256 O 01/01/36 0 10329631 E22/G02 F 73,600.00 ZZ 360 73,600.00 1 7.3750 508.34 80 7.1250 508.34 PRATTVILLE AL 36067 1 12/21/05 00 0426549408 05 02/01/06 0.0000 0426549408 O 01/01/36 0 10329983 E82/G02 F 213,000.00 ZZ 360 213,000.00 1 7.5000 1489.33 85 7.2500 1489.33 STONE PARK IL 60165 5 12/19/05 04 0401208111 05 02/01/06 12.0000 0401208111 O 01/01/36 0 10329993 E82/G02 F 320,500.00 ZZ 360 320,500.00 1 6.8750 2105.46 69 6.6250 2105.46 ANNANDALE VA 22003 2 12/19/05 00 0401198668 03 02/01/06 0.0000 0401198668 O 01/01/36 0 10329995 E82/G02 F 89,000.00 ZZ 360 89,000.00 1 6.7500 577.25 75 6.5000 577.25 BEN WHEELER TX 75754 2 12/19/05 00 0401191861 05 02/01/06 0.0000 0401191861 O 01/01/36 0 10330031 L20/G02 F 76,400.00 ZZ 360 76,400.00 1 6.8500 500.62 80 6.6000 500.62 OGDEN UT 84404 1 12/15/05 00 0440771004 05 02/01/06 0.0000 1061120432 O 01/01/36 0 10330173 E33/G02 F 136,000.00 ZZ 360 136,000.00 1 7.2500 821.67 80 7.0000 821.67 LINDENHURST IL 60046 1 10/28/05 00 0440771319 01 12/01/05 0.0000 85669 O 11/01/35 0 10332085 B42/G02 F 189,000.00 ZZ 360 188,405.17 1 5.7500 1102.96 61 5.5000 1102.96 RIALTO CA 92376 5 09/15/05 00 0440768158 05 11/01/05 0.0000 500027 O 10/01/35 0 10332087 B42/G02 F 534,500.00 ZZ 360 533,381.22 1 5.7500 3119.20 63 5.5000 3119.20 TUALATIN OR 97062 2 10/12/05 00 0440767333 05 12/01/05 0.0000 500030 O 11/01/35 0 10332091 B42/G02 F 174,000.00 ZZ 360 173,644.32 1 5.8750 1029.28 43 5.6250 1029.28 CORONA CA 92882 5 10/12/05 00 0440773760 05 12/01/05 0.0000 500604 O 11/01/35 0 10332093 B42/G02 F 377,000.00 ZZ 360 377,000.00 1 5.8750 1845.73 59 5.6250 1845.73 CANOGA PARK CA 91304 1 10/18/05 00 0440773711 05 12/01/05 0.0000 500642 O 11/01/35 0 10332097 B42/G02 F 168,000.00 ZZ 360 168,000.00 1 6.8750 962.50 80 6.6250 962.50 HIALEAH FL 33015 1 10/13/05 00 0440767440 01 12/01/05 0.0000 500881 O 11/01/35 0 10332099 B42/G02 F 359,000.00 ZZ 360 359,000.00 1 6.0000 1795.00 80 5.7500 1795.00 CHINO HILLS CA 91709 5 10/21/05 00 0440775823 09 12/01/05 0.0000 500898 O 11/01/35 0 10332103 B42/G02 F 224,000.00 ZZ 360 224,000.00 1 6.5000 1213.33 80 6.2500 1213.33 VAIL CO 81657 1 10/14/05 00 0440768307 20 12/01/05 0.0000 500913 N 11/01/35 0 10332105 B42/G02 F 200,000.00 ZZ 360 199,591.18 2 5.8750 1183.08 46 5.6250 1183.08 PACOIMA AREA CA 91331 5 10/05/05 00 0440777357 05 12/01/05 0.0000 500915 O 11/01/35 0 10332109 B42/G02 F 93,400.00 ZZ 360 92,874.71 1 6.2500 575.08 87 6.0000 575.08 ALLEN TX 75002 2 10/19/05 14 0440768018 05 12/01/05 25.0000 500932 O 11/01/35 0 10332113 B42/G02 F 160,000.00 ZZ 360 160,000.00 1 5.8750 783.33 35 5.6250 783.33 DENVER CO 80206 1 10/13/05 00 0440766780 06 12/01/05 0.0000 500981 O 11/01/35 0 10332123 B42/G02 F 910,000.00 ZZ 360 910,000.00 1 5.8750 4455.21 70 5.6250 4455.21 SEAL BEACH CA 90071 5 10/20/05 00 0440775807 03 12/01/05 0.0000 501198 O 11/01/35 0 10332129 B42/G02 F 130,700.00 ZZ 360 130,700.00 1 7.7500 844.10 80 7.5000 844.10 LAS VEGAS NV 89149 1 09/20/05 00 0440773752 01 11/01/05 0.0000 501213 N 10/01/35 0 10332133 B42/G02 F 272,400.00 ZZ 360 271,929.62 1 6.7500 1766.79 80 6.5000 1766.79 CENTREVILLE VA 20120 1 10/03/05 00 0440775484 09 12/01/05 0.0000 501219 O 11/01/35 0 10332137 B42/G02 F 252,000.00 ZZ 360 252,000.00 1 6.8750 1443.75 80 6.6250 1443.75 BIG BEAR LAKE CA 92315 1 09/25/05 00 0440774057 05 11/01/05 0.0000 501222 O 10/01/35 0 10332149 B42/G02 F 196,800.00 ZZ 360 196,499.58 2 7.3750 1359.25 80 7.1250 1359.25 BONITA SPRINGSFL 34135 1 10/07/05 00 0440775799 05 12/01/05 0.0000 501230 O 11/01/35 0 10332151 B42/G02 F 608,000.00 ZZ 360 606,727.38 1 5.7500 3548.13 61 5.5000 3548.13 ROCKLIN CA 95677 5 10/04/05 00 0440767507 05 12/01/05 0.0000 501231 O 11/01/35 0 10332157 B42/G02 F 164,000.00 ZZ 360 163,716.81 1 6.7500 1063.71 80 6.5000 1063.71 RIVERTON UT 84065 1 10/21/05 00 0440775708 05 12/01/05 0.0000 501240 O 11/01/35 0 10332165 B42/G02 F 600,000.00 ZZ 360 600,000.00 1 6.1250 3062.50 60 5.8750 3062.50 SAN JOSE CA 95129 5 10/14/05 00 0440767549 05 12/01/05 0.0000 501253 O 11/01/35 0 10332167 B42/G02 F 311,500.00 ZZ 360 310,907.34 1 6.2500 1917.96 63 6.0000 1917.96 DOWNEY CA 90242 5 10/21/05 00 0440769354 05 12/01/05 0.0000 501256 N 11/01/35 0 10332169 B42/G02 F 525,000.00 ZZ 360 523,926.86 1 5.8750 3105.58 50 5.6250 3105.58 RANCHO SANTA MCA 92679 5 10/05/05 00 0440771905 03 12/01/05 0.0000 501257 O 11/01/35 0 10332181 B42/G02 F 210,000.00 ZZ 360 210,000.00 1 6.2500 1093.75 70 6.0000 1093.75 PHELAN AREA CA 92371 5 10/07/05 00 0440768257 05 12/01/05 0.0000 501504 O 11/01/35 0 10332189 B42/G02 F 154,000.00 ZZ 360 153,619.08 1 7.0000 1024.57 80 6.7500 1024.57 WESLEY CHAPEL FL 33543 1 10/28/05 00 0440774834 03 12/01/05 0.0000 501512 O 11/01/35 0 10332195 B42/G02 F 368,000.00 ZZ 360 367,211.32 1 5.6250 2118.42 66 5.3750 2118.42 CHATSWORTH ARECA 91311 5 10/13/05 00 0440767481 05 12/01/05 0.0000 501518 O 11/01/35 0 10332199 B42/G02 F 524,000.00 ZZ 360 524,000.00 2 6.5000 2838.33 80 6.2500 2838.33 SANTA ANA CA 92706 1 10/31/05 00 0440775658 05 01/01/06 0.0000 501564 O 12/01/35 0 10332201 B42/G02 F 400,000.00 ZZ 360 397,352.54 2 6.5000 2166.67 46 6.2500 2166.67 DANA POINT CA 92624 5 10/19/05 00 0440773984 05 12/01/05 0.0000 501565 O 11/01/35 0 10332209 B42/G02 F 109,800.00 ZZ 360 109,705.46 1 6.7500 712.17 90 6.5000 712.17 GUTHRIE OK 73044 1 11/07/05 01 0440774487 05 01/01/06 25.0000 3050053417 O 12/01/35 0 10332211 B42/G02 F 296,000.00 ZZ 360 296,000.00 1 7.2500 1788.33 80 7.0000 1788.33 HUNTINGTON PARCA 90255 1 10/28/05 00 0440774503 05 01/01/06 0.0000 501579 O 12/01/35 0 10332221 B42/G02 F 186,400.00 ZZ 360 186,070.18 1 6.6250 1193.54 80 6.3750 1193.54 BATON ROUGE LA 70818 1 11/04/05 00 0440776235 05 12/01/05 0.0000 501591 O 11/01/35 0 10332227 B42/G02 F 165,000.00 ZZ 360 164,857.94 1 6.7500 1070.19 77 6.5000 1070.19 JACKSON GA 30233 2 11/07/05 00 0440773513 05 01/01/06 0.0000 501602 N 12/01/35 0 10332243 B42/G02 F 306,683.00 ZZ 360 306,683.00 1 6.5000 1661.20 80 6.2500 1661.20 PLAINFIELD IL 60544 1 11/08/05 00 0440775831 03 01/01/06 0.0000 501627 O 12/01/35 0 10332249 B42/G02 F 617,500.00 ZZ 360 616,928.07 4 6.3750 3852.40 65 6.1250 3852.40 PASADENA CA 91104 1 11/04/05 00 0440775757 05 01/01/06 0.0000 501641 N 12/01/35 0 10332257 B42/G02 F 72,000.00 ZZ 360 71,933.31 1 6.3750 449.19 80 6.1250 449.19 POMPANO BEACH FL 33063 1 11/04/05 00 0440776821 01 01/01/06 0.0000 501648 O 12/01/35 0 10332259 B42/G02 F 422,000.00 ZZ 360 422,000.00 1 6.3750 2241.88 75 6.1250 2241.88 NORTHRIDGE CA 91324 5 11/03/05 00 0440776847 05 01/01/06 0.0000 501650 O 12/01/35 0 10332263 B42/G02 F 248,000.00 ZZ 360 248,000.00 1 6.2500 1291.67 77 6.0000 1291.67 PORTLAND OR 97211 5 10/21/05 00 0440775377 05 12/01/05 0.0000 501669 O 11/01/35 0 10332265 B42/G02 F 260,000.00 ZZ 360 259,374.03 1 6.5000 1643.38 79 6.2500 1643.38 LOS ANGELES CA 90033 5 10/06/05 00 0440773646 05 12/01/05 0.0000 501670 O 11/01/35 0 10332285 B42/G02 F 438,750.00 ZZ 360 438,750.00 4 6.9900 2555.72 65 6.7400 2555.72 BAKERSFIELD CA 93308 1 11/17/05 00 0440777019 05 01/01/06 0.0000 701080 N 12/01/35 0 10332293 B42/G02 F 60,000.00 ZZ 360 59,947.06 1 6.6250 384.19 42 6.3750 384.19 CRESTVIEW FL 32536 5 11/16/05 00 0440767267 05 01/01/06 0.0000 95639 N 12/01/35 0 10332513 E22/G02 F 65,650.00 ZZ 360 65,650.00 1 6.8750 431.27 65 6.6250 431.27 RICHMOND VA 23224 5 12/22/05 00 0426083150 05 02/01/06 0.0000 0426083150 N 01/01/36 0 10332571 E22/G02 F 37,500.00 ZZ 360 37,500.00 1 7.3750 259.00 75 7.1250 259.00 NEW ALBANY IN 47150 1 12/22/05 00 0426328845 05 02/01/06 0.0000 0426328845 N 01/01/36 0 10332665 E22/G02 F 480,000.00 ZZ 360 480,000.00 1 7.0000 3193.45 80 6.7500 3193.45 SPRINGFIELD OR 97478 1 12/14/05 00 0426497293 05 02/01/06 0.0000 0426497293 O 01/01/36 0 10332719 E22/G02 F 73,800.00 ZZ 360 73,800.00 1 8.0000 541.52 90 7.7500 541.52 LAKE CHARLES LA 70601 1 12/22/05 10 0426555876 05 02/01/06 25.0000 0426555876 N 01/01/36 0 10332721 E22/G02 F 150,000.00 ZZ 360 150,000.00 1 6.8750 985.39 48 6.6250 985.39 JACKSONVILLE FL 32258 1 12/22/05 00 0426556197 03 02/01/06 0.0000 0426556197 O 01/01/36 0 10332749 E22/G02 F 150,000.00 ZZ 360 150,000.00 1 6.3750 935.80 57 6.1250 935.80 VENICE FL 34293 1 12/22/05 00 0426585220 29 02/01/06 0.0000 0426585220 O 01/01/36 0 10332769 E22/G02 F 59,500.00 ZZ 360 59,500.00 1 7.2500 405.89 75 7.0000 405.89 PUEBLO CO 81004 2 12/22/05 00 0426602512 05 02/01/06 0.0000 0426602512 N 01/01/36 0 10332823 E22/G02 F 188,000.00 ZZ 360 188,000.00 1 7.8750 1233.75 80 7.6250 1233.75 FRESNO CA 93722 1 12/12/05 00 0426670212 05 02/01/06 0.0000 0426670212 N 01/01/36 0 10332867 E22/G02 F 200,650.00 T 360 200,650.00 1 8.1250 1358.57 90 7.8750 1358.57 ORLANDO FL 32832 1 12/22/05 04 0426714580 03 02/01/06 25.0000 0426714580 O 01/01/36 0 10332873 E22/G02 F 484,822.00 ZZ 360 484,822.00 1 7.0000 3225.53 80 6.7500 3225.53 STUART FL 34997 1 12/22/05 00 0426716601 05 02/01/06 0.0000 0426716601 O 01/01/36 0 10332909 E22/G02 F 89,200.00 ZZ 360 89,200.00 1 7.3750 616.08 80 7.1250 616.08 OMAHA NE 68104 1 12/22/05 00 0426749933 05 02/01/06 0.0000 0426749933 N 01/01/36 0 10332929 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 8.0000 369.82 90 7.7500 369.82 OMAHA NE 68111 5 12/22/05 04 0426769725 05 02/01/06 25.0000 0426769725 N 01/01/36 0 10332931 E22/G02 F 69,300.00 ZZ 360 69,300.00 1 8.0000 508.50 90 7.7500 508.50 OMAHA NE 68104 5 12/22/05 04 0426769816 05 02/01/06 25.0000 0426769816 N 01/01/36 0 10332951 E22/G02 F 80,000.00 ZZ 360 80,000.00 1 7.5000 559.37 80 7.2500 559.37 GREENSBORO NC 27405 2 12/21/05 00 0426340725 05 02/01/06 0.0000 0426340725 N 01/01/36 0 10333149 E82/G02 F 180,500.00 ZZ 360 180,500.00 1 6.7500 1170.72 95 6.5000 1170.72 MEMPHIS TN 38128 2 12/21/05 04 0401192752 05 02/01/06 30.0000 0401192752 O 01/01/36 0 10333153 E82/G02 F 79,900.00 ZZ 360 79,900.00 1 7.2500 545.06 87 7.0000 545.06 KOKOMO IN 46902 2 12/21/05 04 0401206461 05 02/01/06 25.0000 0401206461 O 01/01/36 0 10333183 E82/G02 F 283,000.00 ZZ 360 283,000.00 1 6.8750 1859.11 62 6.6250 1859.11 LA QUINTA CA 92253 2 12/20/05 00 0401204482 03 02/01/06 0.0000 0401204482 O 01/01/36 0 10333217 P54/G02 F 73,000.00 ZZ 360 73,000.00 1 6.7500 473.48 50 6.5000 473.48 ARVIN CA 93203 2 12/09/05 00 0440808541 05 02/01/06 0.0000 12447 O 01/01/36 0 10333441 975/G02 F 650,000.00 ZZ 360 650,000.00 1 7.1250 4379.17 77 6.8750 4379.17 COSTA MESA CA 92627 1 12/14/05 00 0440778637 03 02/01/06 0.0000 11964090 O 01/01/36 0 10334175 E82/G02 F 160,000.00 ZZ 360 160,000.00 1 7.2500 1091.48 56 7.0000 1091.48 TEHACHAPI CA 93561 5 12/21/05 00 0401208400 05 02/01/06 0.0000 0401208400 N 01/01/36 0 10334595 E22/G02 F 288,500.00 ZZ 360 288,500.00 1 7.2500 1968.08 75 7.0000 1968.08 ROCHESTER MI 48307 2 12/21/05 00 0426691796 05 02/01/06 0.0000 0426691796 O 01/01/36 0 10334633 E22/G02 F 105,520.00 ZZ 360 105,520.00 1 7.6250 670.49 80 7.3750 670.49 COLLEGE STATIOTX 77845 1 12/22/05 00 0426725362 05 02/01/06 0.0000 0426725362 O 01/01/36 0 10334651 E22/G02 F 325,000.00 ZZ 360 325,000.00 1 7.2500 1963.54 65 7.0000 1963.54 WELLINGTON FL 33414 5 12/23/05 00 0426746830 03 02/01/06 0.0000 0426746830 N 01/01/36 0 10334663 E22/G02 F 57,668.00 ZZ 360 57,668.00 1 7.7500 413.14 80 7.5000 413.14 ARLINGTON TX 76010 1 12/22/05 00 0426775854 05 02/01/06 0.0000 0426775854 O 01/01/36 0 10334673 E22/G02 F 400,000.00 ZZ 360 400,000.00 1 6.8750 2627.72 67 6.6250 2627.72 ORLANDO FL 32819 1 12/23/05 00 0426807467 03 02/01/06 0.0000 0426807467 O 01/01/36 0 10334753 E22/G02 F 113,000.00 ZZ 360 113,000.00 1 7.1250 761.30 23 6.8750 761.30 CAMERON PARK CA 95682 5 12/05/05 00 0426532305 05 02/01/06 0.0000 0426532305 O 01/01/36 0 10334781 E22/G02 F 240,000.00 ZZ 360 240,000.00 1 6.7500 1350.00 80 6.5000 1350.00 WARWICK RI 02888 1 12/23/05 00 0426552758 05 02/01/06 0.0000 0426552758 O 01/01/36 0 10334799 E22/G02 F 65,600.00 ZZ 360 65,600.00 1 7.5000 458.68 80 7.2500 458.68 NORFOLK VA 23504 2 12/23/05 00 0425026218 05 02/01/06 0.0000 0425026218 N 01/01/36 0 10334829 E22/G02 F 53,250.00 ZZ 360 53,250.00 2 7.3750 367.78 75 7.1250 367.78 DAYTON OH 45403 2 12/23/05 00 0426004883 05 02/01/06 0.0000 0426004883 N 01/01/36 0 10334835 E22/G02 F 60,300.00 ZZ 360 60,300.00 3 7.5000 421.63 90 7.2500 421.63 ROCHESTER NY 14613 1 12/23/05 04 0426048740 05 02/01/06 25.0000 0426048740 N 01/01/36 0 10334841 E22/G02 F 750,000.00 ZZ 360 750,000.00 2 6.2500 4617.88 63 6.0000 4617.88 WOODLAND CA 95695 2 12/16/05 00 0426075131 05 02/01/06 0.0000 0426075131 O 01/01/36 0 10335085 E22/G02 F 74,400.00 ZZ 360 74,400.00 1 6.8750 488.76 80 6.6250 488.76 WENATCHEE WA 98801 1 12/20/05 00 0426672812 05 02/01/06 0.0000 0426672812 O 01/01/36 0 10335329 E82/G02 F 74,550.00 ZZ 360 74,550.00 1 7.8750 540.54 90 7.6250 540.54 DETROIT MI 48205 2 12/23/05 04 0401198197 05 02/01/06 25.0000 0401198197 O 01/01/36 0 10335335 E82/G02 F 121,000.00 ZZ 360 121,000.00 1 7.1250 815.20 88 6.8750 815.20 KNOXVILLE TN 37932 2 12/22/05 04 0401204805 05 02/01/06 25.0000 0401204805 O 01/01/36 0 10335357 E82/G02 F 81,200.00 ZZ 360 81,200.00 1 7.6250 574.73 89 7.3750 574.73 HAWLEY PA 18428 2 12/20/05 04 0401198403 05 02/01/06 25.0000 0401198403 O 01/01/36 0 10335467 L21/G02 F 324,000.00 T 360 324,000.00 1 7.3750 1991.25 90 7.1250 1991.25 WEST PALM BEACFL 33411 1 12/20/05 19 0440769495 05 02/01/06 25.0000 11007632 O 01/01/36 0 10335517 L21/G02 F 193,300.00 ZZ 360 193,300.00 3 6.8750 1269.85 65 6.6250 1269.85 PARADISE CA 95969 1 12/07/05 00 0440767796 05 02/01/06 0.0000 32504981 N 01/01/36 0 10335711 L21/G02 F 243,725.00 ZZ 360 243,725.00 1 6.5000 1320.18 75 6.2500 1320.18 SACRAMENTO CA 95842 2 12/13/05 00 0440767986 05 02/01/06 0.0000 32504977 O 01/01/36 0 10335731 L21/G02 F 317,000.00 T 360 317,000.00 1 6.5000 2003.66 64 6.2500 2003.66 CHOWCHILLA CA 93610 1 12/01/05 00 0440770675 03 02/01/06 0.0000 16507968 O 01/01/36 0 10335737 B42/G02 F 144,250.00 ZZ 360 143,968.88 1 6.1250 876.48 59 5.8750 876.48 RALEIGH NC 27612 5 10/26/05 00 0440771756 05 12/01/05 0.0000 501192 O 11/01/35 0 10335907 E82/G02 F 276,300.00 ZZ 360 276,300.00 1 7.0000 1838.23 53 6.7500 1838.23 PALMDALE CA 93551 2 12/21/05 00 0401202569 05 02/01/06 0.0000 0401202569 O 01/01/36 0 10337113 L21/G02 F 226,500.00 ZZ 360 226,500.00 1 6.5000 1226.88 89 6.2500 1226.88 BRENTWOOD NH 03833 2 11/30/05 19 0440769891 01 01/01/06 25.0000 28609490 O 12/01/35 0 10337115 L21/G02 F 96,400.00 ZZ 360 96,400.00 1 6.8750 552.29 80 6.6250 552.29 PORT ROYAL SC 29935 1 12/21/05 00 0440769842 09 02/01/06 0.0000 28509601 O 01/01/36 0 10337421 E22/G02 F 76,500.00 ZZ 360 76,500.00 1 7.1250 515.39 90 6.8750 515.39 PUEBLO CO 81004 2 12/20/05 04 0426400032 05 02/01/06 25.0000 0426400032 O 01/01/36 0 10337439 E22/G02 F 197,000.00 ZZ 360 197,000.00 1 6.6250 1261.41 50 6.3750 1261.41 OVIEDO FL 32765 2 12/20/05 00 0426415030 03 02/01/06 0.0000 0426415030 O 01/01/36 0 10337487 E22/G02 F 50,240.00 ZZ 360 50,240.00 1 8.1250 373.03 80 7.8750 373.03 MOBILE AL 36608 1 12/27/05 00 0426484689 01 02/01/06 0.0000 0426484689 O 01/01/36 0 10337561 E22/G02 F 73,600.00 ZZ 360 73,600.00 1 7.2500 502.08 80 7.0000 502.08 BREAUX BRIDGE LA 70517 2 12/20/05 00 0426584272 05 02/01/06 0.0000 0426584272 O 01/01/36 0 10337667 E22/G02 F 209,758.00 ZZ 360 209,758.00 1 8.0000 1398.39 75 7.7500 1398.39 PALM COAST FL 32137 1 12/27/05 00 0426652947 05 02/01/06 0.0000 0426652947 N 01/01/36 0 10337743 E22/G02 F 320,000.00 ZZ 360 320,000.00 1 6.8750 1833.33 80 6.6250 1833.33 RIVERSIDE CA 92509 5 12/21/05 00 0426696829 05 02/01/06 0.0000 0426696829 O 01/01/36 0 10337793 E22/G02 F 84,000.00 ZZ 360 84,000.00 1 7.2500 573.03 80 7.0000 573.03 PASADENA TX 77502 1 12/21/05 00 0426748349 05 02/01/06 0.0000 0426748349 O 01/01/36 0 10337823 E22/G02 F 236,000.00 ZZ 360 236,000.00 1 6.7500 1327.50 53 6.5000 1327.50 OAKLAND CA 94605 5 12/16/05 00 0426771929 05 02/01/06 0.0000 0426771929 O 01/01/36 0 10338539 E82/G02 F 150,000.00 ZZ 360 150,000.00 1 6.7500 972.90 55 6.5000 972.90 VISALIA CA 93277 2 12/27/05 00 0401194790 05 02/01/06 0.0000 0401194790 N 01/01/36 0 10338963 P01/G02 F 76,000.00 ZZ 360 76,000.00 1 7.1250 512.03 80 6.8750 512.03 SKANEATELES NY 13152 1 12/19/05 00 0440773406 05 02/01/06 0.0000 05005669 O 01/01/36 0 10340809 E22/G02 F 145,000.00 ZZ 360 145,000.00 1 7.0000 964.69 40 6.7500 964.69 MORENO VALLEY CA 92555 1 12/16/05 00 0426450441 03 02/01/06 0.0000 0426450441 O 01/01/36 0 10340829 E22/G02 F 535,000.00 ZZ 360 535,000.00 1 7.3750 3288.02 57 7.1250 3288.02 CHINO HILLS CA 91709 5 12/13/05 00 0426502142 03 02/01/06 0.0000 0426502142 O 01/01/36 0 10340917 E22/G02 F 182,400.00 ZZ 360 182,400.00 1 6.8750 1045.00 80 6.6250 1045.00 JACKSONVILLE FL 32277 1 12/28/05 00 0426583357 05 02/01/06 0.0000 0426583357 O 01/01/36 0 10340937 E22/G02 F 100,000.00 ZZ 360 100,000.00 1 7.2500 682.18 80 7.0000 682.18 PUEBLO CO 81005 2 12/22/05 00 0426596516 05 02/01/06 0.0000 0426596516 O 01/01/36 0 10341075 E22/G02 F 333,900.00 ZZ 360 333,900.00 1 7.6250 2363.32 77 7.3750 2363.32 NORTHBROOK IL 60062 2 12/22/05 00 0426695243 05 02/01/06 0.0000 0426695243 O 01/01/36 0 10341077 E22/G02 F 60,400.00 ZZ 360 60,400.00 1 8.1250 448.47 80 7.8750 448.47 KINGSVILLE TX 78363 1 12/28/05 00 0426698312 05 02/01/06 0.0000 0426698312 N 01/01/36 0 10341109 E22/G02 F 75,853.00 ZZ 360 75,853.00 2 6.7500 491.98 100 6.5000 491.98 POESTENKILL NY 12140 1 12/28/05 11 0426730388 05 02/01/06 35.0000 0426730388 O 01/01/36 0 10344081 E22/G02 F 67,050.00 ZZ 360 67,050.00 1 8.0000 491.99 90 7.7500 491.99 TOMBALL TX 77375 1 12/22/05 04 0426591202 05 02/01/06 25.0000 0426591202 N 01/01/36 0 10344191 E22/G02 F 292,800.00 ZZ 360 292,800.00 1 7.2500 1769.00 80 7.0000 1769.00 SANDWICH MA 02563 2 12/23/05 00 0426353231 05 02/01/06 0.0000 0426353231 O 01/01/36 0 10344215 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73110 1 12/28/05 10 0426415311 05 02/01/06 25.0000 0426415311 N 01/01/36 0 10344219 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73106 1 12/28/05 04 0426420337 05 02/01/06 25.0000 0426420337 N 01/01/36 0 10344223 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73119 1 12/28/05 04 0426420410 05 02/01/06 25.0000 0426420410 N 01/01/36 0 10344225 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73130 1 12/28/05 10 0426420436 05 02/01/06 25.0000 0426420436 N 01/01/36 0 10344231 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73149 1 12/28/05 10 0426428090 05 02/01/06 25.0000 0426428090 N 01/01/36 0 10344241 E22/G02 F 50,400.00 ZZ 360 50,400.00 1 7.5000 352.40 90 7.2500 352.40 OKLAHOMA CITY OK 73115 1 12/28/05 10 0426431870 05 02/01/06 25.0000 0426431870 N 01/01/36 0 10344321 E22/G02 F 59,600.00 ZZ 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 2 12/29/05 00 0426533998 03 02/01/06 0.0000 0426533998 N 01/01/36 0 10344363 E22/G02 F 70,125.00 ZZ 360 70,125.00 1 7.7500 502.38 85 7.5000 502.38 HOUSTON TX 77060 2 12/22/05 04 0426643227 05 02/01/06 12.0000 0426643227 O 01/01/36 0 10344417 E22/G02 F 59,600.00 TX 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 5 12/29/05 00 0426677142 03 02/01/06 0.0000 0426677142 N 01/01/36 0 10344423 E22/G02 F 59,600.00 TX 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 5 12/29/05 00 0426678918 03 02/01/06 0.0000 0426678918 N 01/01/36 0 10344437 E22/G02 F 76,700.00 ZZ 360 76,700.00 1 7.5000 536.30 75 7.2500 536.30 MONTGOMERY AL 36107 1 12/29/05 00 0426683603 05 02/01/06 0.0000 0426683603 O 01/01/36 0 10344459 E22/G02 F 59,600.00 ZZ 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 2 12/29/05 00 0426690707 03 02/01/06 0.0000 0426690707 N 01/01/36 0 10344461 E22/G02 F 59,600.00 ZZ 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 2 12/29/05 00 0426690798 03 02/01/06 0.0000 0426690798 N 01/01/36 0 10344463 E22/G02 F 59,600.00 TX 360 59,600.00 1 8.0000 437.32 77 7.7500 437.32 EL PASO TX 79924 5 12/29/05 00 0426690871 03 02/01/06 0.0000 0426690871 N 01/01/36 0 10344475 E22/G02 F 72,600.00 ZZ 240 72,600.00 1 7.2500 573.81 76 7.0000 573.81 HOUSTON TX 77017 2 12/23/05 00 0426693479 05 02/01/06 0.0000 0426693479 O 01/01/26 0 10344507 E22/G02 F 81,600.00 ZZ 360 81,600.00 1 7.3750 563.59 80 7.1250 563.59 SAVANNAH GA 31404 2 12/29/05 00 0426703195 05 02/01/06 0.0000 0426703195 N 01/01/36 0 10344513 E22/G02 F 148,500.00 ZZ 360 148,500.00 4 7.7500 1063.87 90 7.5000 1063.87 PASCO WA 99301 1 12/21/05 04 0426704813 05 02/01/06 25.0000 0426704813 N 01/01/36 0 10344531 E22/G02 F 148,500.00 ZZ 360 148,500.00 4 7.7500 1063.87 90 7.5000 1063.87 PASCO WA 99301 1 12/21/05 04 0426714473 05 02/01/06 25.0000 0426714473 N 01/01/36 0 10344545 E22/G02 F 148,500.00 ZZ 360 148,500.00 4 7.7500 1063.87 90 7.5000 1063.87 PASCO WA 99301 1 12/21/05 04 0426718714 05 02/01/06 25.0000 0426718714 N 01/01/36 0 10344559 E22/G02 F 285,000.00 ZZ 360 285,000.00 1 6.5000 1801.39 64 6.2500 1801.39 TACOMA WA 98403 5 12/23/05 00 0426724712 05 02/01/06 0.0000 0426724712 O 01/01/36 0 10345237 313/G02 F 75,100.00 ZZ 360 75,100.00 1 6.8750 493.35 48 6.6250 493.35 DEMOREST GA 30535 1 12/20/05 00 0440791580 05 02/01/06 0.0000 10957926 O 01/01/36 0 10348217 B39/G02 F 124,720.00 ZZ 360 124,720.00 1 7.0000 727.53 80 6.7500 727.53 HASTINGS MN 55033 1 12/09/05 00 0440804284 01 02/01/06 0.0000 05803141F N 01/01/36 0 10348433 E22/G02 F 61,325.00 ZZ 360 61,325.00 1 7.7500 439.34 100 7.5000 439.34 SKIATOOK OK 74070 1 12/30/05 10 0426469748 05 02/01/06 35.0000 0426469748 O 01/01/36 0 10348501 E22/G02 F 180,025.00 ZZ 360 180,025.00 1 6.7500 1167.64 95 6.5000 1167.64 EAST WENATCHEEWA 98802 2 12/23/05 04 0426542379 05 02/01/06 30.0000 0426542379 O 01/01/36 0 10348513 E22/G02 F 200,000.00 ZZ 360 200,000.00 1 7.0000 1330.60 29 6.7500 1330.60 TRACY (CITY) CA 95304 5 12/20/05 00 0426549184 05 02/01/06 0.0000 0426549184 O 01/01/36 0 10348595 E22/G02 F 68,000.00 ZZ 360 68,000.00 1 7.2500 463.88 80 7.0000 463.88 PUEBLO CO 81004 2 12/30/05 00 0426619276 05 02/01/06 0.0000 0426619276 N 01/01/36 0 10349515 E82/G02 F 84,500.00 ZZ 360 84,500.00 1 7.1250 569.29 82 6.8750 569.29 CHARLOTTE NC 28209 2 12/28/05 04 0401206792 05 02/01/06 12.0000 0401206792 O 01/01/36 0 10349523 E82/G02 F 79,200.00 ZZ 360 79,200.00 1 7.1250 533.59 80 6.8750 533.59 SAN ANTONIO TX 78251 2 12/27/05 00 0401182910 05 02/01/06 0.0000 0401182910 O 01/01/36 0 10349837 313/G02 F 138,550.00 ZZ 360 138,550.00 2 7.6250 980.65 85 7.3750 980.65 MILWAUKEE WI 53222 1 12/28/05 10 0440844637 05 02/01/06 20.0000 10783165 N 01/01/36 0 10350369 U45/G02 F 238,000.00 ZZ 360 238,000.00 1 6.7500 1543.66 61 6.5000 1543.66 PITTSBURG CA 94565 2 12/19/05 00 0440807444 05 02/01/06 0.0000 513300007 O 01/01/36 0 10350403 Q14/G02 F 55,300.00 ZZ 360 55,300.00 4 7.2500 377.24 51 7.0000 377.24 INDEPENDENCE MO 64052 2 12/23/05 00 0440806065 05 02/01/06 0.0000 0000532830 N 01/01/36 0 10350483 E82/G02 F 55,000.00 ZZ 360 55,000.00 2 7.3750 379.87 58 7.1250 379.87 MOUNT HOLLY NC 28120 2 12/23/05 00 0401198122 05 02/01/06 0.0000 0401198122 N 01/01/36 0 10353021 T08/M32 F 605,600.00 ZZ 360 605,600.00 1 6.2500 3154.17 80 6.0000 3154.17 SAN DIEGO CA 92129 2 10/31/05 00 TO BE ASSIGNED 05 12/01/05 0.0000 132320120 O 11/01/35 0 10353507 W51/G02 F 320,000.00 ZZ 360 319,437.66 1 7.5000 2237.49 80 7.2500 2237.49 PARLIER CA 93648 5 10/06/05 00 0440858439 05 12/01/05 0.0000 CA0517555 O 11/01/35 0 10354997 L21/G02 F 85,700.00 ZZ 360 85,700.00 1 7.1250 508.84 78 6.8750 508.84 CONYERS GA 30094 1 12/14/05 00 0440804722 05 02/01/06 0.0000 26508728 O 01/01/36 0 10355015 L21/G02 F 138,050.00 ZZ 360 138,050.00 1 6.7500 776.53 78 6.5000 776.53 HILLIARD FL 32046 2 12/16/05 00 0440791119 05 02/01/06 0.0000 26508891 O 01/01/36 0 10355315 L21/G02 F 135,200.00 ZZ 360 135,200.00 1 7.1250 802.75 80 6.8750 802.75 OPA LOCKA FL 33055 1 10/21/05 00 0440791085 05 12/01/05 0.0000 26508131 O 11/01/35 0 10366399 E22/G02 F 79,800.00 ZZ 360 79,800.00 1 6.6250 510.97 70 6.3750 510.97 RENTON WA 98059 2 12/29/05 00 0426839411 01 02/01/06 0.0000 0426839411 O 01/01/36 0 10366863 253/253 F 56,250.00 ZZ 360 56,250.00 1 7.7500 402.98 75 7.5000 402.98 MCKINNEY TX 75069 1 12/28/05 00 647324 05 02/01/06 0.0000 647324 N 01/01/36 0 Total Number of Loans 1,399 Total Original Balance 324,365,230.96 Total Principal Balance 323,843,583.63 Total Original P+I 2,037,392.61 Total Current P+I 2,037,392.60
Fixed Rate Passthru Loan Number Sub Serv Fee Principal Bal Mstr Serv Fee Curr Note Rate Alloc Exp Net Curr Misc Exp Investor Rate Spread Post Strip Rate Strip 8983812 0.2500 221496.69 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 9748275 0.2500 129827.00 0.0800 6.3750 0.0000 6.1250 0.0000 6.0450 6.0000 0.0450 9872015 0.2500 305675.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 9873785 0.2500 84373.48 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 9902685 0.2500 119136.87 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 9902723 0.2500 190302.94 0.0800 6.3750 0.0000 6.1250 0.0000 6.0450 6.0000 0.0450 9902739 0.2500 194310.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 9902839 0.2500 359650.00 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 9916811 0.2500 245000.00 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 9925861 0.2500 87165.13 0.0800 6.3750 0.0000 6.1250 0.0000 6.0450 6.0000 0.0450 9946406 0.2500 137930.90 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 9946879 0.2500 160000.00 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 9949446 0.9778 178576.52 0.0800 7.6250 0.0000 6.6472 0.0000 6.5672 6.0000 0.5672 9949486 0.9778 146850.77 0.0800 8.0000 0.0000 7.0222 0.0000 6.9422 6.0000 0.9422 9979923 0.2500 214407.77 0.0300 5.5000 0.0000 5.2500 0.0000 5.2200 5.2200 0.0000 9984603 0.2500 430000.00 0.0300 5.8750 0.0000 5.6250 0.0000 5.5950 5.5950 0.0000 9985096 0.2500 103688.33 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 9985246 0.7187 149198.45 0.0800 7.7500 0.0000 7.0313 0.0000 6.9513 6.0000 0.9513 9986220 0.2500 141369.17 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 9986312 0.2500 42375.75 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 9986318 0.2500 87729.65 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10009139 0.2500 161006.64 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10013671 0.2500 124296.04 0.0800 6.3750 0.0000 6.1250 0.0000 6.0450 6.0000 0.0450 10013677 0.2500 180863.30 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10013745 0.2500 199280.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10050608 0.2500 157190.61 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10050626 0.2500 143581.15 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10050648 0.2500 108468.25 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10050748 0.7400 121383.04 0.0800 8.6250 0.0000 7.8850 0.0000 7.8050 6.0000 1.8050 10050762 0.6430 41060.91 0.0800 8.2500 0.0000 7.6070 0.0000 7.5270 6.0000 1.5270 10050794 0.9690 177764.04 0.0800 8.0000 0.0000 7.0310 0.0000 6.9510 6.0000 0.9510 10051590 0.2500 259238.00 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10051624 0.2500 208880.64 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10051834 0.2500 376969.28 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10052568 0.4600 81010.04 0.0800 7.8750 0.0000 7.4150 0.0000 7.3350 6.0000 1.3350 10052586 0.3150 206576.21 0.0800 7.2500 0.0000 6.9350 0.0000 6.8550 6.0000 0.8550 10066569 0.2500 231331.07 0.0300 6.0000 0.0000 5.7500 0.0000 5.7200 5.7200 0.0000 10068581 0.2500 118871.58 0.0300 5.9990 0.0000 5.7490 0.0000 5.7190 5.7190 0.0000 10068647 0.2500 139998.69 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 10068659 0.2500 496800.00 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10072569 0.2500 279527.83 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10073169 0.2500 217288.42 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10073201 0.9000 131503.74 0.0800 7.5000 0.0000 6.6000 0.0000 6.5200 6.0000 0.5200 10079359 0.2500 113310.48 0.0300 6.0000 0.0000 5.7500 0.0000 5.7200 5.7200 0.0000 10123025 0.2500 91312.31 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 10125651 0.2500 17939.31 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127682 0.2500 287484.46 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10127684 0.2500 406688.71 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10127688 0.2500 275928.69 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10127690 0.2500 159736.92 0.0800 7.0000 0.0000 6.7500 0.0000 6.6700 6.0000 0.6700 10127694 0.2500 167702.72 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10127696 0.2500 282461.56 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 10127702 0.2500 399274.82 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127706 0.2500 55697.39 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10127708 0.2500 47635.77 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10127710 0.2500 132228.96 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10127716 0.2500 259528.63 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127722 0.2500 194137.07 0.0300 5.7500 0.0000 5.5000 0.0000 5.4700 5.4700 0.0000 10127728 0.2500 59891.21 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127730 0.2500 207640.81 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10127732 0.2500 114202.45 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10127734 0.2500 99814.27 0.0800 6.3750 0.0000 6.1250 0.0000 6.0450 6.0000 0.0450 10127736 0.2500 214541.46 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127740 0.2500 159709.93 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10127744 0.2500 93724.50 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10127748 0.2500 160914.75 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10127750 0.2500 337326.62 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10127752 0.2500 191567.94 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10127760 0.2500 139720.43 0.0300 6.0000 0.0000 5.7500 0.0000 5.7200 5.7200 0.0000 10127764 0.2500 187667.34 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10127766 0.2500 105057.19 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10127768 0.2500 243568.25 0.0800 6.6250 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0.7950 10334175 0.2500 160000.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10334595 0.2500 288500.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10334633 0.2500 105520.00 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 10334651 0.2500 325000.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10334663 0.2500 57668.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10334673 0.2500 400000.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10334753 0.2500 113000.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10334781 0.2500 240000.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10334799 0.2500 65600.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10334829 0.2500 53250.00 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10334835 0.2500 60300.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10334841 0.2500 750000.00 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 10335085 0.2500 74400.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10335329 0.2500 74550.00 0.0800 7.8750 0.0000 7.6250 0.0000 7.5450 6.0000 1.5450 10335335 0.2500 121000.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10335357 0.2500 81200.00 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 10335467 0.2500 324000.00 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10335517 0.2500 193300.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10335711 0.2500 243725.00 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10335731 0.2500 317000.00 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10335737 0.2500 143968.88 0.0300 6.1250 0.0000 5.8750 0.0000 5.8450 5.8450 0.0000 10335907 0.2500 276300.00 0.0800 7.0000 0.0000 6.7500 0.0000 6.6700 6.0000 0.6700 10337113 0.2500 226500.00 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10337115 0.2500 96400.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10337421 0.2500 76500.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10337439 0.2500 197000.00 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10337487 0.2500 50240.00 0.0800 8.1250 0.0000 7.8750 0.0000 7.7950 6.0000 1.7950 10337561 0.2500 73600.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10337667 0.2500 209758.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10337743 0.2500 320000.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10337793 0.2500 84000.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10337823 0.2500 236000.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10338539 0.2500 150000.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10338963 0.2500 76000.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10340809 0.2500 145000.00 0.0800 7.0000 0.0000 6.7500 0.0000 6.6700 6.0000 0.6700 10340829 0.2500 535000.00 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10340917 0.2500 182400.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10340937 0.2500 100000.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10341075 0.2500 333900.00 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 10341077 0.2500 60400.00 0.0800 8.1250 0.0000 7.8750 0.0000 7.7950 6.0000 1.7950 10341109 0.2500 75853.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10344081 0.2500 67050.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344191 0.2500 292800.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10344215 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344219 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344223 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344225 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344231 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344241 0.2500 50400.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344321 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344363 0.2500 70125.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10344417 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344423 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344437 0.2500 76700.00 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10344459 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344461 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344463 0.2500 59600.00 0.0800 8.0000 0.0000 7.7500 0.0000 7.6700 6.0000 1.6700 10344475 0.2500 72600.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10344507 0.2500 81600.00 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10344513 0.2500 148500.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10344531 0.2500 148500.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10344545 0.2500 148500.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10344559 0.2500 285000.00 0.0800 6.5000 0.0000 6.2500 0.0000 6.1700 6.0000 0.1700 10345237 0.2500 75100.00 0.0800 6.8750 0.0000 6.6250 0.0000 6.5450 6.0000 0.5450 10348217 0.2500 124720.00 0.0800 7.0000 0.0000 6.7500 0.0000 6.6700 6.0000 0.6700 10348433 0.2500 61325.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 10348501 0.2500 180025.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10348513 0.2500 200000.00 0.0800 7.0000 0.0000 6.7500 0.0000 6.6700 6.0000 0.6700 10348595 0.2500 68000.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10349515 0.2500 84500.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10349523 0.2500 79200.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10349837 0.2500 138550.00 0.0800 7.6250 0.0000 7.3750 0.0000 7.2950 6.0000 1.2950 10350369 0.2500 238000.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10350403 0.2500 55300.00 0.0800 7.2500 0.0000 7.0000 0.0000 6.9200 6.0000 0.9200 10350483 0.2500 55000.00 0.0800 7.3750 0.0000 7.1250 0.0000 7.0450 6.0000 1.0450 10353021 0.2500 605600.00 0.0300 6.2500 0.0000 6.0000 0.0000 5.9700 5.9700 0.0000 10353507 0.2500 319437.66 0.0800 7.5000 0.0000 7.2500 0.0000 7.1700 6.0000 1.1700 10354997 0.2500 85700.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10355015 0.2500 138050.00 0.0800 6.7500 0.0000 6.5000 0.0000 6.4200 6.0000 0.4200 10355315 0.2500 135200.00 0.0800 7.1250 0.0000 6.8750 0.0000 6.7950 6.0000 0.7950 10366399 0.2500 79800.00 0.0800 6.6250 0.0000 6.3750 0.0000 6.2950 6.0000 0.2950 10366863 0.2500 56250.00 0.0800 7.7500 0.0000 7.5000 0.0000 7.4200 6.0000 1.4200 Total Number of Loans: 1,399 Total Original Balance: 324,365,230.96 Total Principal Balance: 323,843,583.63 Total Original P+I: 2,037,392.61 Total Current P+I: 2,037,392.60
EXHIBIT TWO SCHEDULE OF DISCOUNT FRACTIONS Loan Number Current Balance Net Mortgage Rate Discount Fraction PO Balance 9902839 "$359,650.00 " 0.0597 0.005 "$1,798.25 " 9916811 "$245,000.00 " 0.0597 0.005 "$1,225.00 " 9979923 "$214,407.77 " 0.0522 0.13 "$27,873.01 " 9984603 "$430,000.00 " 0.05595 0.0675 "$29,025.00 " 10051590 "$259,238.00 " 0.05845 0.025833333 "$6,696.98 " 10066569 "$231,331.07 " 0.0572 0.046666667 "$10,795.45 " 10068581 "$118,871.58 " 0.05719 0.046833333 "$5,567.15 " 10068647 "$139,998.69 " 0.0597 0.005 $699.99 10068659 "$496,800.00 " 0.05845 0.025833333 "$12,834.00 " 10073169 "$217,288.42 " 0.05845 0.025833333 "$5,613.28 " 10079359 "$113,310.48 " 0.0572 0.046666667 "$5,287.82 " 10127696 "$282,461.56 " 0.0597 0.005 "$1,412.31 " 10127710 "$132,228.96 " 0.05845 0.025833333 "$3,415.91 " 10127722 "$194,137.07 " 0.0547 0.088333333 "$17,148.77 " 10127744 "$93,724.50 " 0.05845 0.025833333 "$2,421.22 " 10127760 "$139,720.43 " 0.0572 0.046666667 "$6,520.29 " 10127766 "$105,057.19 " 0.05845 0.025833333 "$2,713.98 " 10127800 "$423,193.27 " 0.0597 0.005 "$2,115.97 " 10127826 "$134,116.32 " 0.0597 0.005 $670.58 10127836 "$598,858.41 " 0.0597 0.005 "$2,994.29 " 10127990 "$51,102.58 " 0.0597 0.005 $255.51 10128002 "$96,323.33 " 0.0572 0.046666667 "$4,495.09 " 10128008 "$271,469.89 " 0.05845 0.025833333 "$7,012.97 " 10128014 "$447,147.61 " 0.0597 0.005 "$2,235.74 " 10128018 "$287,720.08 " 0.05845 0.025833333 "$7,432.77 " 10128052 "$311,206.76 " 0.0597 0.005 "$1,556.03 " 10128106 "$49,887.36 " 0.05845 0.025833333 "$1,288.76 " 10128114 "$144,125.25 " 0.0597 0.005 $720.63 10128124 "$98,612.02 " 0.0597 0.005 $493.06 10128128 "$64,863.93 " 0.0547 0.088333333 "$5,729.65 " 10128130 "$395,146.02 " 0.0597 0.005 "$1,975.73 " 10128132 "$594,798.70 " 0.05845 0.025833333 "$15,365.63 " 10128290 "$210,487.74 " 0.0597 0.005 "$1,052.44 " 10128358 "$138,130.27 " 0.05845 0.025833333 "$3,568.37 " 10128360 "$77,398.60 " 0.0597 0.005 $386.99 10128364 "$499,048.69 " 0.0597 0.005 "$2,495.24 " 10128374 "$137,578.45 " 0.0597 0.005 $687.89 10128404 "$39,908.10 " 0.05845 0.025833333 "$1,030.96 " 10128414 "$84,811.97 " 0.0597 0.005 $424.06 10128632 "$67,914.85 " 0.055654 0.072433333 "$4,919.30 " 10128634 "$236,619.71 " 0.056904 0.0516 "$12,209.58 " 10128656 "$122,178.42 " 0.059404 0.009933333 "$1,213.64 " 10128660 "$85,348.70 " 0.059404 0.009933333 $847.80 10128670 "$238,077.98 " 0.059404 0.009933333 "$2,364.91 " 10128678 "$184,672.64 " 0.059404 0.009933333 "$1,834.41 " 10165680 "$146,002.22 " 0.0572 0.046666667 "$6,813.44 " 10165684 "$63,778.41 " 0.0597 0.005 $318.89 10165692 "$64,667.54 " 0.05595 0.0675 "$4,365.06 " 10165694 "$284,729.57 " 0.0597 0.005 "$1,423.65 " 10165696 "$170,859.68 " 0.0597 0.005 $854.30 10165702 "$205,793.01 " 0.0572 0.046666667 "$9,603.67 " 10165706 "$124,335.87 " 0.05595 0.0675 "$8,392.67 " 10165714 "$49,904.87 " 0.0597 0.005 $249.52 10165724 "$251,519.69 " 0.0597 0.005 "$1,257.60 " 10165754 "$215,536.08 " 0.05595 0.0675 "$14,548.69 " 10165756 "$358,932.13 " 0.0572 0.046666667 "$16,750.17 " 10165776 "$107,395.26 " 0.0597 0.005 $536.98 10165786 "$294,720.09 " 0.0597 0.005 "$1,473.60 " 10165788 "$261,863.63 " 0.05595 0.0675 "$17,675.80 " 10165804 "$287,257.20 " 0.0547 0.088333333 "$25,374.39 " 10165810 "$491,498.38 " 0.05595 0.0675 "$33,176.14 " 10165822 "$287,726.73 " 0.0597 0.005 "$1,438.63 " 10170060 "$299,386.78 " 0.05595 0.0675 "$20,208.61 " 10170088 "$359,300.44 " 0.05845 0.025833333 "$9,281.93 " 10170096 "$55,843.01 " 0.05595 0.0675 "$3,769.40 " 10170110 "$162,330.33 " 0.0547 0.088333333 "$14,339.18 " 10170114 "$399,582.38 " 0.0547 0.088333333 "$35,296.44 " 10170116 "$345,671.70 " 0.0597 0.005 "$1,728.36 " 10170122 "$604,368.34 " 0.0547 0.088333333 "$53,385.87 " 10188394 "$271,960.00 " 0.0597 0.005 "$1,359.80 " 10188412 "$240,000.00 " 0.05845 0.025833333 "$6,200.00 " 10188416 "$154,587.59 " 0.0572 0.046666667 "$7,214.09 " 10188442 "$520,000.00 " 0.0572 0.046666667 "$24,266.67 " 10188446 "$449,998.75 " 0.0572 0.046666667 "$20,999.94 " 10188466 "$52,050.56 " 0.0597 0.005 $260.25 10188468 "$208,456.42 " 0.0572 0.046666667 "$9,727.97 " 10188470 "$191,129.74 " 0.05845 0.025833333 "$4,937.52 " 10188476 "$284,000.00 " 0.0572 0.046666667 "$13,253.33 " 10188482 "$275,400.00 " 0.05845 0.025833333 "$7,114.50 " 10190452 "$59,847.50 " 0.0597 0.005 $299.24 10201173 "$82,331.36 " 0.05595 0.0675 "$5,557.37 " 10223527 "$348,974.24 " 0.05845 0.025833333 "$9,015.17 " 10225729 "$191,616.76 " 0.0572 0.046666667 "$8,942.12 " 10230058 "$424,566.69 " 0.05595 0.0675 "$28,658.25 " 10230210 "$294,425.08 " 0.05845 0.025833333 "$7,605.98 " 10230216 "$251,760.89 " 0.0597 0.005 "$1,258.80 " 10230218 "$299,701.34 " 0.0572 0.046666667 "$13,986.06 " 10230266 "$359,308.75 " 0.0597 0.005 "$1,796.54 " 10230268 "$359,308.75 " 0.0597 0.005 "$1,796.54 " 10231877 "$183,600.68 " 0.0597 0.005 $918.00 10242902 "$47,900.00 " 0.05845 0.025833333 "$1,237.42 " 10247589 "$75,760.56 " 0.0597 0.005 $378.80 10248625 "$115,654.35 " 0.0597 0.005 $578.27 10253717 "$103,350.99 " 0.0597 0.005 $516.76 10255751 "$200,168.42 " 0.0597 0.005 "$1,000.84 " 10257407 "$176,000.00 " 0.0597 0.005 $880.00 10272971 "$380,897.18 " 0.05595 0.0675 "$25,710.56 " 10273053 "$149,560.38 " 0.05845 0.025833333 "$3,863.64 " 10273131 "$174,658.95 " 0.05845 0.025833333 "$4,512.02 " 10273251 "$110,168.93 " 0.0547 0.088333333 "$9,731.59 " 10273299 "$181,827.31 " 0.0597 0.005 $909.14 10273327 "$64,011.84 " 0.05845 0.025833333 "$1,653.64 " 10273401 "$183,547.92 " 0.0572 0.046666667 "$8,565.57 " 10273411 "$136,506.81 " 0.05345 0.109166667 "$14,901.99 " 10273447 "$194,748.76 " 0.0597 0.005 $973.74 10273499 "$143,587.97 " 0.0597 0.005 $717.94 10273591 "$97,804.39 " 0.0572 0.046666667 "$4,564.20 " 10273619 "$279,441.13 " 0.0572 0.046666667 "$13,040.59 " 10273643 "$116,716.52 " 0.0597 0.005 $583.58 10273671 "$127,191.64 " 0.05845 0.025833333 "$3,285.78 " 10273677 "$295,423.13 " 0.05845 0.025833333 "$7,631.76 " 10273693 "$478,587.71 " 0.0597 0.005 "$2,392.94 " 10273703 "$443,569.61 " 0.0547 0.088333333 "$39,181.98 " 10273865 "$255,213.15 " 0.05595 0.0675 "$17,226.89 " 10273893 "$384,067.88 " 0.0597 0.005 "$1,920.34 " 10273907 "$139,733.64 " 0.0597 0.005 $698.67 10273967 "$96,810.96 " 0.05845 0.025833333 "$2,500.95 " 10274035 "$316,919.35 " 0.05345 0.109166667 "$34,597.03 " 10274071 "$154,897.55 " 0.05845 0.025833333 "$4,001.52 " 10274081 "$318,141.76 " 0.05595 0.0675 "$21,474.57 " 10274093 "$126,935.74 " 0.0597 0.005 $634.68 10274101 "$354,256.95 " 0.0547 0.088333333 "$31,292.70 " 10274129 "$279,467.26 " 0.0597 0.005 "$1,397.34 " 10274135 "$229,529.85 " 0.05595 0.0675 "$15,493.26 " 10274141 "$217,434.41 " 0.0547 0.088333333 "$19,206.71 " 10274149 "$404,172.14 " 0.05595 0.0675 "$27,281.62 " 10274165 "$356,653.02 " 0.05465 0.089166667 "$31,801.56 " 10274169 "$352,295.42 " 0.0572 0.046666667 "$16,440.45 " 10274173 "$433,060.97 " 0.05595 0.0675 "$29,231.62 " 10274251 "$160,079.84 " 0.0572 0.046666667 "$7,470.39 " 10274305 "$515,018.25 " 0.0597 0.005 "$2,575.09 " 10274307 "$466,739.53 " 0.05595 0.0675 "$31,504.92 " 10274311 "$270,137.19 " 0.05845 0.025833333 "$6,978.54 " 10274323 "$197,056.67 " 0.0547 0.088333333 "$17,406.67 " 10275267 "$179,829.21 " 0.0597 0.005 $899.15 10279047 "$79,924.10 " 0.0597 0.005 $399.62 10279771 "$674,278.38 " 0.05345 0.109166667 "$73,608.72 " 10279777 "$499,525.58 " 0.0597 0.005 "$2,497.63 " 10279783 "$315,947.71 " 0.0597 0.005 "$1,579.74 " 10279793 "$310,091.00 " 0.0572 0.046666667 "$14,470.91 " 10279803 "$619,397.40 " 0.05845 0.025833333 "$16,001.10 " 10279825 "$377,723.60 " 0.0572 0.046666667 "$17,627.10 " 10279831 "$289,704.33 " 0.05595 0.0675 "$19,555.04 " 10279839 "$449,901.67 " 0.0572 0.046666667 "$20,995.41 " 10279851 "$421,929.55 " 0.0572 0.046666667 "$19,690.05 " 10279865 "$490,322.97 " 0.05845 0.025833333 "$12,666.68 " 10279867 "$603,412.95 " 0.05845 0.025833333 "$15,588.17 " 10279889 "$417,184.28 " 0.0572 0.046666667 "$19,468.60 " 10279901 "$597,418.78 " 0.05845 0.025833333 "$15,433.32 " 10279911 "$147,349.62 " 0.05595 0.0675 "$9,946.10 " 10279939 "$117,485.70 " 0.05845 0.025833333 "$3,035.05 " 10279947 "$88,364.03 " 0.05845 0.025833333 "$2,282.74 " 10279949 "$391,784.98 " 0.05845 0.025833333 "$10,121.11 " 10280015 "$414,151.71 " 0.05595 0.0675 "$27,955.24 " 10280451 "$240,980.63 " 0.0597 0.005 "$1,204.90 " 10280483 "$399,620.46 " 0.0597 0.005 "$1,998.10 " 10281529 "$183,641.42 " 0.05845 0.025833333 "$4,744.07 " 10285711 "$424,516.74 " 0.05595 0.0675 "$28,654.88 " 10285727 "$127,029.36 " 0.0597 0.005 $635.15 10285731 "$536,390.57 " 0.0597 0.005 "$2,681.95 " 10285773 "$747,500.02 " 0.05345 0.109166667 "$81,602.09 " 10285839 "$235,820.57 " 0.05845 0.025833333 "$6,092.03 " 10285857 "$718,650.84 " 0.05845 0.025833333 "$18,565.15 " 10285861 "$279,334.70 " 0.0597 0.005 "$1,396.67 " 10285893 "$487,539.97 " 0.0597 0.005 "$2,437.70 " 10286077 "$228,766.52 " 0.05595 0.0675 "$15,441.74 " 10287185 "$350,050.18 " 0.0572 0.046666667 "$16,335.68 " 10288967 "$51,948.23 " 0.0572 0.046666667 "$2,424.25 " 10289409 "$751,970.93 " 0.0572 0.046666667 "$35,091.98 " 10289463 "$746,563.71 " 0.05845 0.025833333 "$19,286.23 " 10289493 "$646,517.48 " 0.0597 0.005 "$3,232.59 " 10289495 "$528,848.58 " 0.05595 0.0675 "$35,697.28 " 10290451 "$91,910.58 " 0.05845 0.025833333 "$2,374.36 " 10293383 "$77,472.80 " 0.0572 0.046666667 "$3,615.40 " 10297891 "$281,132.99 " 0.0597 0.005 "$1,405.67 " 10304727 "$598,830.68 " 0.05845 0.025833333 "$15,469.79 " 10304729 "$598,830.68 " 0.05845 0.025833333 "$15,469.79 " 10304733 "$506,534.41 " 0.0597 0.005 "$2,532.67 " 10304773 "$428,933.79 " 0.0597 0.005 "$2,144.67 " 10304797 "$249,501.00 " 0.0572 0.046666667 "$11,643.38 " 10304799 "$399,201.59 " 0.0572 0.046666667 "$18,629.41 " 10304805 "$265,456.25 " 0.05595 0.0675 "$17,918.30 " 10304831 "$93,566.04 " 0.0597 0.005 $467.83 10304835 "$646,207.60 " 0.0572 0.046666667 "$30,156.35 " 10304841 "$648,763.28 " 0.0597 0.005 "$3,243.82 " 10304871 "$199,610.21 " 0.05845 0.025833333 "$5,156.60 " 10304875 "$583,886.95 " 0.0597 0.005 "$2,919.43 " 10304881 "$331,821.84 " 0.0597 0.005 "$1,659.11 " 10304885 "$95,803.27 " 0.0597 0.005 $479.02 10304915 "$475,027.02 " 0.05595 0.0675 "$32,064.32 " 10304939 "$748,573.03 " 0.0597 0.005 "$3,742.87 " 10304959 "$269,473.82 " 0.05845 0.025833333 "$6,961.41 " 10304965 "$315,398.76 " 0.0597 0.005 "$1,576.99 " 10304981 "$319,688.97 " 0.05845 0.025833333 "$8,258.63 " 10304993 "$299,386.76 " 0.05595 0.0675 "$20,208.61 " 10305005 "$117,482.92 " 0.0572 0.046666667 "$5,482.54 " 10305019 "$579,449.67 " 0.0597 0.005 "$2,897.25 " 10305027 "$185,423.90 " 0.0597 0.005 $927.12 10306219 "$514,474.93 " 0.05595 0.0675 "$34,727.06 " 10309269 "$486,177.01 " 0.05845 0.025833333 "$12,559.57 " 10310185 "$559,468.65 " 0.0597 0.005 "$2,797.34 " 10311147 "$188,602.92 " 0.0597 0.005 $943.01 10311285 "$237,024.89 " 0.0597 0.005 "$1,185.12 " 10311435 "$430,400.00 " 0.05845 0.025833333 "$11,118.67 " 10311445 "$290,000.00 " 0.05595 0.0675 "$19,575.00 " 10311457 "$619,411.72 " 0.0597 0.005 "$3,097.06 " 10311463 "$584,353.00 " 0.0597 0.005 "$2,921.77 " 10311485 "$420,000.00 " 0.05845 0.025833333 "$10,850.00 " 10311493 "$598,400.00 " 0.0597 0.005 "$2,992.00 " 10311521 "$505,000.00 " 0.0597 0.005 "$2,525.00 " 10311555 "$600,000.00 " 0.0597 0.005 "$3,000.00 " 10311557 "$460,000.00 " 0.0597 0.005 "$2,300.00 " 10311623 "$525,000.00 " 0.0597 0.005 "$2,625.00 " 10312937 "$77,472.80 " 0.0572 0.046666667 "$3,615.40 " 10315363 "$99,905.11 " 0.0597 0.005 $499.53 10315383 "$141,565.55 " 0.0597 0.005 $707.83 10315431 "$100,882.30 " 0.0572 0.046666667 "$4,707.84 " 10317929 "$50,000.00 " 0.0597 0.005 $250.00 10318501 "$94,308.25 " 0.05845 0.025833333 "$2,436.30 " 10321245 "$590,818.37 " 0.0572 0.046666667 "$27,571.52 " 10326329 "$81,600.00 " 0.0572 0.046666667 "$3,808.00 " 10327171 "$434,000.00 " 0.05595 0.0675 "$29,295.00 " 10327177 "$480,000.00 " 0.0547 0.088333333 "$42,400.00 " 10327179 "$560,000.00 " 0.0572 0.046666667 "$26,133.33 " 10327199 "$479,522.16 " 0.0572 0.046666667 "$22,377.70 " 10327213 "$514,712.05 " 0.0547 0.088333333 "$45,466.23 " 10327215 "$525,000.00 " 0.0597 0.005 "$2,625.00 " 10327221 "$460,000.00 " 0.05345 0.109166667 "$50,216.67 " 10327223 "$456,000.00 " 0.05845 0.025833333 "$11,780.00 " 10327251 "$521,250.00 " 0.05845 0.025833333 "$13,465.63 " 10327311 "$516,250.00 " 0.0572 0.046666667 "$24,091.67 " 10327323 "$773,525.47 " 0.0597 0.005 "$3,867.63 " 10327467 "$461,300.00 " 0.0547 0.088333333 "$40,748.17 " 10332085 "$188,405.17 " 0.0547 0.088333333 "$16,642.46 " 10332087 "$533,381.22 " 0.0547 0.088333333 "$47,115.34 " 10332091 "$173,644.32 " 0.05595 0.0675 "$11,720.99 " 10332093 "$377,000.00 " 0.05595 0.0675 "$25,447.50 " 10332099 "$359,000.00 " 0.0572 0.046666667 "$16,753.33 " 10332105 "$199,591.18 " 0.05595 0.0675 "$13,472.40 " 10332109 "$92,874.71 " 0.0597 0.005 $464.37 10332113 "$160,000.00 " 0.05595 0.0675 "$10,800.00 " 10332123 "$910,000.00 " 0.05595 0.0675 "$61,425.00 " 10332151 "$606,727.38 " 0.0547 0.088333333 "$53,594.25 " 10332165 "$600,000.00 " 0.05845 0.025833333 "$15,500.00 " 10332167 "$310,907.34 " 0.0597 0.005 "$1,554.54 " 10332169 "$523,926.86 " 0.05595 0.0675 "$35,365.06 " 10332181 "$210,000.00 " 0.0597 0.005 "$1,050.00 " 10332195 "$367,211.32 " 0.05345 0.109166667 "$40,087.24 " 10332263 "$248,000.00 " 0.0597 0.005 "$1,240.00 " 10334841 "$750,000.00 " 0.0597 0.005 "$3,750.00 " 10335737 "$143,968.88 " 0.05845 0.025833333 "$3,719.20 " 10353021 "$605,600.00 " 0.0597 0.005 "$3,028.00 "
EXHIBIT THREE INFORMATION TO BE INCLUDED IN MONTHLY DISTRIBUTION DATE STATEMENT (i) the applicable Record Date, Determination Date and Distribution Date; (ii) the aggregate amount of payments received with respect to the Mortgage Loans, including prepayment amounts; (iii) the Servicing Fee and Subservicing Fee payable to the Master Servicer and the Subservicer; (iv) the amount of any other fees or expenses paid; (v) (a) the amount of such distribution to the Certificateholders of such Class applied to reduce the Certificate Principal Balance thereof, and (b) the aggregate amount included therein representing Principal Prepayments; (vi) the amount of such distribution to Holders of such Class of Certificates allocable to interest; (vii) if the distribution to the Holders of such Class of Certificates is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the shortfall; (viii) the aggregate Certificate Principal Balance of each Class of Certificates and each of the Senior Percentage and Subordinate Class Percentage, before and after giving effect to the amounts distributed on such Distribution Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal; (ix) the aggregate Certificate Principal Balance of each of the Class A Certificates, Class M Certificates and Class B Certificates as of the Closing Date; (x) the weighted average remaining term to maturity of the Mortgage Loans after giving effect to the amounts distributed on such Distribution Date; (xi) the weighted average Mortgage Rates of the Mortgage Loans after giving effect to the amounts distributed on such Distribution Date; (xii) if applicable, the Special Hazard Amount, Fraud Loss Amount and Bankruptcy Amount and as of the close of business on the applicable Distribution Date; (xiii) the Pool Stated Principal Balance and number of the Mortgage Loans after giving effect to the distribution of principal on such Distribution Date and the number of Mortgage Loans at the beginning and end of the related Due Period; (xiv) on the basis of the most recent reports furnished to it by Sub-Servicers, the number and Stated Principal Balances of Mortgage Loans that are Delinquent (A) 30-59 days, (B) 60-89 days and (C) 90 or more days and the number and Stated Principal Balances of Mortgage Loans that are in foreclosure; (xv) the aggregate amount of Realized Losses for such Distribution Date; (xvi) the amount, terms and general purpose of any Advance by the Master Servicer pursuant to Section 4.04; (xvii) any material modifications, extensions or waivers to the terms of the Mortgage Loans during the Due Period or that have cumulatively become material over time; (xviii) any material breaches of Mortgage Loan representations or warranties or covenants in the Agreement. (xix) the related Subordinate Principal Distribution Amount; (xx) the number, aggregate principal balance and Stated Principal Balances of any REO Properties; (xxi) the aggregate Accrued Certificate Interest remaining unpaid, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xxii) the Pass-Through Rate with respect to the Class A-V Certificates; (xxiii) the Pass-Through Rates on the Floater Certificates and Inverse Floater Certificates for such Distribution Date, separately identifying LIBOR for such Distribution Date; (xiv) the Notional Amount with respect to each class of Interest Only Certificates; (xv) the occurrence of the Credit Support Depletion Date; (xvi) the related Senior Accelerated Distribution Percentage applicable to such distribution; (xvii) the related Senior Percentage for such Distribution Date; (xix) the aggregate amount of any recoveries on previously foreclosed loans from Sellers; In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount per Certificate with a $1,000 denomination. The Trustee's internet website is www.tss.db.com/invr.
EXHIBIT FOUR EXECUTION VERSION STANDARD TERMS OF POOLING AND SERVICING AGREEMENT Dated as of January 1, 2006 Residential Accredit Loans, Inc. Mortgage Asset-Backed Pass-Through Certificates
TABLE OF CONTENTS PAGE ARTICLE I DEFINITIONS...............................................................2 Section 1.01. Definitions...........................................................2 Section 1.02. Use of Words and Phrases.............................................34 ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES..........35 Section 2.01. Conveyance of Mortgage Loans.........................................35 Section 2.02. Acceptance by Trustee................................................41 Section 2.03. Representations, Warranties and Covenants of the Master Servicer and the Company.........................................42 Section 2.04. Representations and Warranties of Residential Funding................44 Section 2.05. Execution and Authentication of Certificates/Issuance of Certificates Evidencing Interests in REMIC I Certificates........45 Section 2.06. Conveyance of Uncertificated REMIC I and REMIC II Regular Interests; Acceptance by the Trustee.............................46 Section 2.07. Issuance of Certificates Evidencing Interests in REMIC II............46 Section 2.08. Purposes and Powers of the Trust.....................................46 ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS...........................46 Section 3.01. Master Servicer to Act as Servicer...................................46 Section 3.02. Subservicing Agreements Between Master Servicer and Subservicers; Enforcement of Subservicers' and Sellers' Obligations......................................................48 Section 3.03. Successor Subservicers...............................................49 Section 3.04. Liability of the Master Servicer.....................................49 Section 3.05. No Contractual Relationship Between Subservicer and Trustee or Certificateholders...............................................50 Section 3.06. Assumption or Termination of Subservicing Agreements by Trustee......50 Section 3.07. Collection of Certain Mortgage Loan Payments; Deposits to Custodial Account................................................50 Section 3.08. Subservicing Accounts; Servicing Accounts............................53 Section 3.09. Access to Certain Documentation and Information Regarding the Mortgage Loans...................................................55 Section 3.10. Permitted Withdrawals from the Custodial Account.....................55 Section 3.11. Maintenance of the Primary Insurance Policies; Collections Thereunder.......................................................57 Section 3.12. Maintenance of Fire Insurance and Omissions and Fidelity Coverage.........................................................58 Section 3.13. Enforcement of Due-on-Sale Clauses; Assumption and Modification Agreements; Certain Assignments.....................59 Section 3.14. Realization Upon Defaulted Mortgage Loans............................61 Section 3.15. Trustee to Cooperate; Release of Mortgage Files......................65 Section 3.16. Servicing and Other Compensation; Compensating Interest..............66 Section 3.17. Reports to the Trustee and the Company...............................67 Section 3.18. Annual Statement as to Compliance and Servicing Assessment...........67 Section 3.19. Annual Independent Public Accountants' Servicing Report..............68 Section 3.20. Rights of the Company in Respect of the Master Servicer..............68 Section 3.21. Administration of Buydown Funds......................................68 Section 3.22. Advance Facility.....................................................69 ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS...........................................73 Section 4.01. Certificate Account..................................................73 Section 4.02. Distributions. As provided in Section 4.02 of the Series Supplement.......................................................74 Section 4.03. Statements to Certificateholders; Statements to Rating Agencies; Exchange Act Reporting.................................74 Section 4.04. Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer..................................76 Section 4.05. Allocation of Realized Losses........................................77 Section 4.06. Reports of Foreclosures and Abandonment of Mortgaged Property........78 Section 4.07. Optional Purchase of Defaulted Mortgage Loans........................78 Section 4.08. Surety Bond..........................................................78 ARTICLE V THE CERTIFICATES.........................................................79 Section 5.01. The Certificates.....................................................79 Section 5.02. Registration of Transfer and Exchange of Certificates................81 Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates....................87 Section 5.04. Persons Deemed Owners................................................87 Section 5.05. Appointment of Paying Agent..........................................87 Section 5.06. U.S.A. Patriot Act Compliance........................................88 ARTICLE VI THE COMPANY AND THE MASTER SERVICER......................................89 Section 6.01. Respective Liabilities of the Company and the Master Servicer........89 Section 6.02. Merger or Consolidation of the Company or the Master Servicer; Assignment of Rights and Delegation of Duties by Master Servicer.........................................................89 Section 6.03. Limitation on Liability of the Company, the Master Servicer and Others.......................................................90 Section 6.04. Company and Master Servicer Not to Resign............................91 ARTICLE VII DEFAULT..................................................................92 Section 7.01. Events of Default....................................................92 Section 7.02. Trustee or Company to Act; Appointment of Successor..................94 Section 7.03. Notification to Certificateholders...................................95 Section 7.04. Waiver of Events of Default..........................................95 ARTICLE VIII CONCERNING THE TRUSTEE...................................................96 Section 8.01. Duties of Trustee....................................................96 Section 8.02. Certain Matters Affecting the Trustee................................97 Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans................99 Section 8.04. Trustee May Own Certificates.........................................99 Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification..................................................99 Section 8.06. Eligibility Requirements for Trustee................................100 Section 8.07. Resignation and Removal of the Trustee..............................101 Section 8.08. Successor Trustee...................................................102 Section 8.09. Merger or Consolidation of Trustee..................................102 Section 8.10. Appointment of Co-Trustee or Separate Trustee.......................102 Section 8.11. Appointment of Custodians...........................................103 Section 8.12. Appointment of Office or Agency.....................................104 ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES....................105 Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans...............................105 Section 9.02. Additional Termination Requirements.................................108 Section 9.03. Termination of Multiple REMICs......................................109 ARTICLE X REMIC PROVISIONS........................................................110 Section 10.01.REMIC Administration................................................110 Section 10.02.Master Servicer, REMIC Administrator and Trustee Indemnification....113 Section 10.03.Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement...............................................114 Section 10.04.Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement...............................................114 Section 10.05.Compliance with Withholding Requirements. As provided in Section 10.05 of the Series Supplement..........................114 ARTICLE XI MISCELLANEOUS PROVISIONS................................................115 Section 11.01.Amendment...........................................................115 Section 11.02.Recordation of Agreement; Counterparts..............................117 Section 11.03.Limitation on Rights of Certificateholders..........................118 Section 11.04.Governing Law.......................................................118 Section 11.05.Notices. As provided in Section 11.05 of the Series Supplement......119 Section 11.06.Required Notices to Rating Agency and Subservicer...................119 Section 11.07.Severability of Provisions..........................................120 Section 11.08.Supplemental Provisions for Resecuritization........................120 Section 11.09.Allocation of Voting Rights.........................................120 Section 11.10.No Petition.........................................................120 ARTICLE XII COMPLIANCE WITH REGULATION AB...........................................121 Section 12.01.Intent of the Parties; Reasonableness...............................121 Section 12.02.Additional Representations and Warranties of the Trustee............121 Section 12.03.Information to Be Provided by the Trustee...........................122 Section 12.04.Report on Assessment of Compliance and Attestation..................122 Section 12.05.Indemnification; Remedies...........................................123
EXHIBITS Exhibit A: Form of Class A Certificate Exhibit B: Form of Class M Certificate Exhibit C: Form of Class B Certificate Exhibit D: Form of Class R Certificate Exhibit E: Form of Seller/Servicer Contract Exhibit F: Forms of Request for Release Exhibit G-1: Form of Transfer Affidavit and Agreement Exhibit G-2: Form of Transferor Certificate Exhibit H: Form of Investor Representation Letter Exhibit I: Form of Transferor Representation Letter Exhibit J: Form of Rule 144A Investment Representation Letter Exhibit K: Text of Amendment to Pooling and Servicing Agreement Pursuant to Section 11.01(e) for a Limited Guaranty Exhibit L: Form of Limited Guaranty Exhibit M: Form of Lender Certification for Assignment of Mortgage Loan Exhibit N: Request for Exchange Form Exhibit O: Form of Form 10-K Certification Exhibit P: Form of Back-Up Certification to Form 10-K Certificate Exhibit Q: Information to be Provided by the Master Servicer to the Rating Agencies Relating to Reportable Modified Mortgage Loans Exhibit R: Servicing Criteria
This is the Standard Terms of Pooling and Servicing Agreement, dated as of January 1, 2006 (the "Standard Terms", and as incorporated by reference into a Series Supplement dated as of the Cut-off Date, the "Pooling and Servicing Agreement" or "Agreement"), among RESIDENTIAL ACCREDIT LOANS, INC., as the company (together with its permitted successors and assigns, the "Company"), RESIDENTIAL FUNDING CORPORATION, as master servicer (together with its permitted successors and assigns, the "Master Servicer"), and the trustee named in the applicable Series Supplement (together with its permitted successors and assigns, the "Trustee"). PRELIMINARY STATEMENT: The Company intends to sell certain mortgage asset-backed pass-through certificates (collectively, the "Certificates"), to be issued under the Agreement in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Mortgage Loans. In consideration of the mutual agreements herein contained, the Company, the Master Servicer and the Trustee agree as follows:
ARTICLE I DEFINITIONS Section 1.01. Definitions. Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the meanings specified in this Article. Accretion Termination Date: As defined in the Series Supplement. Accrual Certificates: As defined in the Series Supplement. Accrued Certificate Interest: With respect to each Distribution Date, as to any Class or Subclass of Certificates (other than any Principal Only Certificates), interest accrued during the related Interest Accrual Period at the related Pass-Through Rate on the Certificate Principal Balance or Notional Amount thereof immediately prior to such Distribution Date. Accrued Certificate Interest will be calculated on the basis of a 360-day year, consisting of twelve 30-day months. In each case Accrued Certificate Interest on any Class or Subclass of Certificates will be reduced by the amount of: (i) Prepayment Interest Shortfalls on all Mortgage Loans or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group (to the extent not offset by the Master Servicer with a payment of Compensating Interest as provided in Section 4.01), (ii) the interest portion (adjusted to the Net Mortgage Rate (or the Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) of Realized Losses on all Mortgage Loans or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group (including Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses and Extraordinary Losses) not allocated solely to one or more specific Classes of Certificates pursuant to Section 4.05, (iii) the interest portion of Advances that were (A) previously made with respect to a Mortgage Loan or REO Property on all Mortgage Loans or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group, which remained unreimbursed following the Cash Liquidation or REO Disposition of such Mortgage Loan or REO Property and (B) made with respect to delinquencies that were ultimately determined to be Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses, and (iv) any other interest shortfalls not covered by the subordination provided by the Class M Certificates and Class B Certificates, including interest that is not collectible from the Mortgagor pursuant to the Servicemembers Civil Relief Act of 1940, as amended, or similar legislation or regulations as in effect from time to time, with all such reductions allocated (A) among all of the Certificates in proportion to their respective amounts of Accrued Certificate Interest payable on such Distribution Date absent such reductions or (B) if the Mortgage Pool is comprised of two or more Loan Groups, the related Senior Percentage of such reductions among the related Senior Certificates in proportion to the amounts of Accrued Certificate Interest payable from the related Loan Group on such Distribution Date absent such reductions, with the remainder of such reductions allocated among the holders of the Class M Certificates and Class B Certificates in proportion to their respective amounts of Accrued Certificate Interest payable on such Distribution Date absent such reductions. In addition to that portion of the reductions described in the preceding sentence that are allocated to any Class of Class B Certificates or any Class of Class M Certificates, Accrued Certificate Interest on such Class of Class B Certificates or such Class of Class M Certificates will be reduced by the interest portion (adjusted to the Net Mortgage Rate) of Realized Losses that are allocated solely to such Class of Class B Certificates or such Class of Class M Certificates pursuant to Section 4.05. Addendum and Assignment Agreement: The Addendum and Assignment Agreement, dated as of January 31, 1995, between MLCC and the Master Servicer. Additional Collateral: Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement. Additional Collateral Loan: Each Mortgage Loan that is supported by Additional Collateral. Adjusted Mortgage Rate: With respect to any Mortgage Loan and any date of determination, the Mortgage Rate borne by the related Mortgage Note, less the rate at which the related Subservicing Fee accrues. Advance: As to any Mortgage Loan, any advance made by the Master Servicer, pursuant to Section 4.04. Advance Facility: As defined in Section 3.22. Advance Facility Notice: As defined in Section 3.22. Advance Facility Trustee: As defined in Section 3.22. Advancing Person: As defined in Section 3.22. Advance Reimbursement Amounts: As defined in Section 3.22. Affiliate: With respect to any Person, any other Person controlling, controlled by or under common control with such first Person. For the purposes of this definition, "control" means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. Ambac: Ambac Assurance Corporation (formerly known as AMBAC Indemnity Corporation). Amount Held for Future Distribution: As to any Distribution Date and, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, each Loan Group, the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date on account of (i) Liquidation Proceeds, Subsequent Recoveries, Insurance Proceeds, Curtailments, Mortgage Loan purchases made pursuant to Section 2.02, 2.03, 2.04 or 4.07 and Mortgage Loan substitutions made pursuant to Section 2.03 or 2.04 received or made in the month of such Distribution Date (other than such Liquidation Proceeds, Insurance Proceeds and purchases of Mortgage Loans that the Master Servicer has deemed to have been received in the preceding month in accordance with Section 3.07(b)), and Principal Prepayments in Full made after the related Prepayment Period, and (ii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date. Appraised Value: As to any Mortgaged Property, the lesser of (i) the appraised value of such Mortgaged Property based upon the appraisal made at the time of the origination of the related Mortgage Loan, and (ii) the sales price of the Mortgaged Property at such time of origination, except in the case of a Mortgaged Property securing a refinanced or modified Mortgage Loan as to which it is either the appraised value determined above or the appraised value determined in an appraisal at the time of refinancing or modification, as the case may be. Assigned Contracts: With respect to any Pledged Asset Loan: the Credit Support Pledge Agreement; the Funding and Pledge Agreement, among GMAC Mortgage Corporation, National Financial Services Corporation and the Mortgagor or other person pledging the related Pledged Assets; the Additional Collateral Agreement, between GMAC Mortgage Corporation and the Mortgagor or other person pledging the related Pledged Assets; or such other contracts as may be set forth in the Series Supplement. Assignment: An assignment of the Mortgage, notice of transfer or equivalent instrument, in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect of record the sale of the Mortgage Loan to the Trustee for the benefit of Certificateholders, which assignment, notice of transfer or equivalent instrument may be in the form of one or more blanket assignments covering Mortgages secured by Mortgaged Properties located in the same county, if permitted by law and accompanied by an Opinion of Counsel to that effect. Assignment Agreement: The Assignment and Assumption Agreement, dated the Closing Date, between Residential Funding and the Company relating to the transfer and assignment of the Mortgage Loans. Assignment of Proprietary Lease: With respect to a Cooperative Loan, the assignment of the related Cooperative Lease from the Mortgagor to the originator of the Cooperative Loan. Available Distribution Amount: As to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to (a) the sum of (i) the amount relating to the Mortgage Loans on deposit in the Custodial Account as of the close of business on the immediately preceding Determination Date, including any Subsequent Recoveries, and amounts deposited in the Custodial Account in connection with the substitution of Qualified Substitute Mortgage Loans, (ii) the amount of any Advance made on the immediately preceding Certificate Account Deposit Date, (iii) any amount deposited in the Certificate Account on the related Certificate Account Deposit Date pursuant to the second paragraph of Section 3.12(a), (iv) any amount deposited in the Certificate Account pursuant to Section 4.07, (v) any amount that the Master Servicer is not permitted to withdraw from the Custodial Account or the Certificate Account pursuant to Section 3.16(e), (vi) any amount received by the Trustee pursuant to the Surety Bond in respect of such Distribution Date and (vii) the proceeds of any Pledged Assets received by the Master Servicer, reduced by (b) the sum as of the close of business on the immediately preceding Determination Date of (w) aggregate Foreclosure Profits, (x) the Amount Held for Future Distribution, and (y) amounts permitted to be withdrawn by the Master Servicer from the Custodial Account in respect of the Mortgage Loans pursuant to clauses (ii)-(x), inclusive, of Section 3.10(a). Such amount shall be determined separately for each Loan Group. Additionally, with respect to any Mortgage Pool that is comprised of two or more Loan Groups, if on any Distribution Date Compensating Interest provided pursuant to this Section 3.16(e) is less than Prepayment Interest Shortfalls incurred on the Mortgage Loans in connection with Principal Prepayments in Full and Curtailments made in the prior calendar month, such Compensating Interest shall be allocated on such Distribution Date to the Available Distribution Amount for each Loan Group on a pro rata basis in accordance with the respective amounts of such Prepayment Interest Shortfalls incurred on the Mortgage Loans in such Loan Group in respect of such Distribution Date. Bankruptcy Code: The Bankruptcy Code of 1978, as amended. Bankruptcy Loss: With respect to any Mortgage Loan, a Deficient Valuation or Debt Service Reduction; provided, however, that neither a Deficient Valuation nor a Debt Service Reduction shall be deemed a Bankruptcy Loss hereunder so long as the Master Servicer has notified the Trustee in writing that the Master Servicer is diligently pursuing any remedies that may exist in connection with the representations and warranties made regarding the related Mortgage Loan and either (A) the related Mortgage Loan is not in default with regard to payments due thereunder or (B) delinquent payments of principal and interest under the related Mortgage Loan and any premiums on any applicable primary hazard insurance policy and any related escrow payments in respect of such Mortgage Loan are being advanced on a current basis by the Master Servicer or a Subservicer, in either case without giving effect to any Debt Service Reduction. Book-Entry Certificate: Any Certificate registered in the name of the Depository or its nominee, and designated as such in the Preliminary Statement to the Series Supplement. Business Day: Any day other than (i) a Saturday or a Sunday or (ii) a day on which banking institutions in the State of New York, the State of Michigan, the State of California or the State of Illinois (and such other state or states in which the Custodial Account or the Certificate Account are at the time located) are required or authorized by law or executive order to be closed. Buydown Funds: Any amount contributed by the seller of a Mortgaged Property, the Company or other source in order to enable the Mortgagor to reduce the payments required to be made from the Mortgagor's funds in the early years of a Mortgage Loan. Buydown Funds are not part of the Trust Fund prior to deposit into the Custodial or Certificate Account. Buydown Mortgage Loan: Any Mortgage Loan as to which a specified amount of interest is paid out of related Buydown Funds in accordance with a related buydown agreement. Calendar Quarter: A Calendar Quarter shall consist of one of the following time periods in any given year: January 1 through March 31, April 1 through June 30, July 1 through September 30, and October 1 through December 31. Capitalization Reimbursement Amount: With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group, during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date. Capitalization Reimbursement Shortfall Amount: With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount, if any, by which the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans (or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group) during the preceding calendar month exceeds the amount of principal payments on the Mortgage Loans included in the Available Distribution Amount (or, if the Mortgage Pool is comprised of two or more Loan Groups, Available Distribution Amount for the related Loan Group) for that Distribution Date. Cash Liquidation: As to any defaulted Mortgage Loan other than a Mortgage Loan as to which an REO Acquisition occurred, a determination by the Master Servicer that it has received all Insurance Proceeds, Liquidation Proceeds and other payments or cash recoveries which the Master Servicer reasonably and in good faith expects to be finally recoverable with respect to such Mortgage Loan. Certificate Account Deposit Date: As to any Distribution Date, the Business Day prior thereto. Certificateholder or Holder: The Person in whose name a Certificate is registered in the Certificate Register, and, in respect of any Insured Certificates, the Certificate Insurer to the extent of Cumulative Insurance Payments, except that neither a Disqualified Organization nor a Non-United States Person shall be a holder of a Class R Certificate for purposes hereof and, solely for the purpose of giving any consent or direction pursuant to this Agreement, any Certificate, other than a Class R Certificate, registered in the name of the Company, the Master Servicer or any Subservicer or any Affiliate thereof shall be deemed not to be outstanding and the Percentage Interest or Voting Rights evidenced thereby shall not be taken into account in determining whether the requisite amount of Percentage Interests or Voting Rights necessary to effect any such consent or direction has been obtained. All references herein to "Holders" or "Certificateholders" shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified herein; provided, however, that the Trustee shall be required to recognize as a "Holder" or "Certificateholder" only the Person in whose name a Certificate is registered in the Certificate Register. Certificate Insurer: As defined in the Series Supplement. Certificate Owner: With respect to a Book-Entry Certificate, the Person who is the beneficial owner of such Certificate, as reflected on the books of an indirect participating brokerage firm for which a Depository Participant acts as agent, if any, and otherwise on the books of a Depository Participant, if any, and otherwise on the books of the Depository. Certificate Principal Balance: With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to: (i) the Initial Certificate Principal Balance of such Certificate as specified on the face thereof, plus (ii) any Subsequent Recoveries added to the Certificate Principal Balance of such Certificate pursuant to Section 4.02, plus (iii) in the case of each Accrual Certificate, an amount equal to the aggregate Accrued Certificate Interest added to the Certificate Principal Balance thereof prior to such date of determination, minus (iv) the sum of (x) the aggregate of all amounts previously distributed with respect to such Certificate (or any predecessor Certificate) and applied to reduce the Certificate Principal Balance thereof pursuant to Section 4.02(a) and (y) the aggregate of all reductions in Certificate Principal Balance deemed to have occurred in connection with Realized Losses which were previously allocated to such Certificate (or any predecessor Certificate) pursuant to Section 4.05; provided, that the Certificate Principal Balance of each Certificate of the Class of Subordinate Certificates with the Lowest Priority at any given time shall be further reduced by an amount equal to the Percentage Interest represented by such Certificate multiplied by the excess, if any, of (A) the then aggregate Certificate Principal Balance of all Classes of Certificates then outstanding over (B) the then aggregate Stated Principal Balance of the Mortgage Loans. Certificate Register and Certificate Registrar: The register maintained and the registrar appointed pursuant to Section 5.02. Class: Collectively, all of the Certificates bearing the same designation. The initial Class A-V Certificates and any Subclass thereof issued pursuant to Section 5.01(c) shall be a single Class for purposes of this Agreement. Class A-P Certificate: Any one of the Certificates designated as a Class A-P Certificate. Class A-P Collection Shortfall: With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan, any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the excess of the amount described in clause (C)(1) of the definition of Class A-P Principal Distribution Amount (for the related Loan Group, if applicable) over the amount described in clause (C)(2) of such definition. Class A-P Principal Distribution Amount: With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, an amount equal to the aggregate of: (A) the related Discount Fraction of the principal portion of each Monthly Payment on each Discount Mortgage Loan (or, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Discount Mortgage Loan in the related Loan Group) due during the related Due Period, whether or not received on or prior to the related Determination Date, minus the Discount Fraction of the principal portion of any related Debt Service Reduction which together with other Bankruptcy Losses exceeds the Bankruptcy Amount; (B) the related Discount Fraction of the principal portion of all unscheduled collections on each Discount Mortgage Loan (or, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Discount Mortgage Loan in the related Loan Group) received during the preceding calendar month or, in the case of Principal Prepayments in Full, during the related Prepayment Period (other than amounts received in connection with a Cash Liquidation or REO Disposition of a Discount Mortgage Loan described in clause (C) below), including Principal Prepayments in Full, Curtailments, Subsequent Recoveries and repurchases (including deemed repurchases under Section 3.07(b)) of such Discount Mortgage Loans (or, in the case of a substitution of a Deleted Mortgage Loan, the Discount Fraction of the amount of any shortfall deposited in the Custodial Account in connection with such substitution); (C) in connection with the Cash Liquidation or REO Disposition of a Discount Mortgage Loan (or, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Discount Mortgage Loan in the related Loan Group) that occurred during the preceding calendar month (or was deemed to have occurred during such period in accordance with Section 3.07(b)) that did not result in any Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses, an amount equal to the lesser of (1) the applicable Discount Fraction of the Stated Principal Balance of such Discount Mortgage Loan immediately prior to such Distribution Date and (2) the aggregate amount of the collections on such Mortgage Loan to the extent applied as recoveries of principal; (D) any amounts allocable to principal for any previous Distribution Date (calculated pursuant to clauses (A) through (C) above) that remain undistributed; and (E) the amount of any Class A-P Collection Shortfalls for such Distribution Date and the related Loan Group, if applicable, and the amount of any Class A-P Collection Shortfalls (for the related Loan Group, if applicable) remaining unpaid for all previous Distribution Dates, but only to the extent of the Eligible Funds for such Distribution Date; minus (F) the related Discount Fraction of the portion of the Capitalization Reimbursement Amount (for the related Loan Group, if applicable) for such Distribution Date, if any, related to each Discount Mortgage Loan (in the related Loan Group, if applicable). Notwithstanding the foregoing, with respect to any Distribution Date on and after the Credit Support Depletion Date, the Class A-P Principal Distribution Amount (for a Loan Group, if applicable) shall equal the excess of (i) the sum of (a) the related Discount Fraction of the principal portion of each Monthly Payment on each Discount Mortgage Loan (in the related Loan Group, if applicable) received or advanced prior to the related Determination Date and not previously distributed minus the Discount Fraction of the principal portion of any related Debt Service Reduction which together with other Bankruptcy Losses exceeds the Bankruptcy Amount and (b) the related Discount Fraction of the aggregate amount of unscheduled collections described in clauses (B) and (C) above over (ii) the amount calculated pursuant to clause (F) above. Class A-V Certificate: Any one of the Certificates designated as a Class A-V Certificate, including any Subclass thereof. Class B Certificate: Any one of the Certificates designated as a Class B-1 Certificate, Class B-2 Certificate or Class B-3 Certificate. Class M Certificate: Any one of the Certificates designated as a Class M-1 Certificate, Class M-2 Certificate or Class M-3 Certificate. Closing Date: As defined in the Series Supplement. Code: The Internal Revenue Code of 1986, as amended. Combined Collateral LLC: Combined Collateral LLC, a Delaware limited liability company. Commission: The Securities and Exchange Commission. Compensating Interest: With respect to any Distribution Date, an amount equal to Prepayment Interest Shortfalls resulting from Principal Prepayments in Full during the related Prepayment Period and Curtailments during the prior calendar month and included in the Available Distribution Amount for such Distribution Date, but not more than the lesser of (a) one-twelfth of 0.125% of the Stated Principal Balance of the Mortgage Loans immediately preceding such Distribution Date and (b) the sum of the Servicing Fee and all income and gain on amounts held in the Custodial Account and the Certificate Account and payable to the Certificateholders with respect to such Distribution Date; provided that for purposes of this definition the amount of the Servicing Fee will not be reduced pursuant to Section 7.02(a) except as may be required pursuant to the last sentence of such Section. Compliance With Laws Representation: The following representation and warranty (or any representation and warranty that is substantially similar) made by Residential Funding in Section 4 of Assignment Agreement: "Each Mortgage Loan at the time it was made complied in all material respects with applicable local, state, and federal laws, including, but not limited to, all applicable anti-predatory lending laws". Cooperative: A private, cooperative housing corporation which owns or leases land and all or part of a building or buildings, including apartments, spaces used for commercial purposes and common areas therein and whose board of directors authorizes, among other things, the sale of Cooperative Stock. Cooperative Apartment: A dwelling unit in a multi-dwelling building owned or leased by a Cooperative, which unit the Mortgagor has an exclusive right to occupy pursuant to the terms of a proprietary lease or occupancy agreement. Cooperative Lease: With respect to a Cooperative Loan, the proprietary lease or occupancy agreement with respect to the Cooperative Apartment occupied by the Mortgagor and relating to the related Cooperative Stock, which lease or agreement confers an exclusive right to the holder of such Cooperative Stock to occupy such apartment. Cooperative Loans: Any of the Mortgage Loans made in respect of a Cooperative Apartment, evidenced by a Mortgage Note and secured by (i) a Security Agreement, (ii) the related Cooperative Stock Certificate, (iii) an assignment of the Cooperative Lease, (iv) financing statements and (v) a stock power (or other similar instrument), and ancillary thereto, a recognition agreement between the Cooperative and the originator of the Cooperative Loan, each of which was transferred and assigned to the Trustee pursuant to Section 2.01 and are from time to time held as part of the Trust Fund. Cooperative Stock: With respect to a Cooperative Loan, the single outstanding class of stock, partnership interest or other ownership instrument in the related Cooperative. Cooperative Stock Certificate: With respect to a Cooperative Loan, the stock certificate or other instrument evidencing the related Cooperative Stock. Credit Repository: Equifax, Transunion and Experian, or their successors in interest. Credit Support Depletion Date: The first Distribution Date on which the Certificate Principal Balances of the Subordinate Certificates have been reduced to zero. Credit Support Pledge Agreement: The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian. Cumulative Insurance Payments: As defined in the Series Supplement. Curtailment: Any Principal Prepayment made by a Mortgagor which is not a Principal Prepayment in Full. Custodial Account: The custodial account or accounts created and maintained pursuant to Section 3.07 in the name of a depository institution, as custodian for the holders of the Certificates, for the holders of certain other interests in mortgage loans serviced or sold by the Master Servicer and for the Master Servicer, into which the amounts set forth in Section 3.07 shall be deposited directly. Any such account or accounts shall be an Eligible Account. Custodial Agreement: An agreement that may be entered into among the Company, the Master Servicer, the Trustee and a Custodian pursuant to which the Custodian will hold certain documents relating to the Mortgage Loans on behalf of the Trustee. Custodian: A custodian appointed pursuant to a Custodial Agreement. Cut-off Date Principal Balance: As to any Mortgage Loan, the unpaid principal balance thereof at the Cut-off Date after giving effect to all installments of principal due on or prior thereto (or due during the month of the Cut-off Date), whether or not received. Debt Service Reduction: With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction constituting a Deficient Valuation or any reduction that results in a permanent forgiveness of principal. Deficient Valuation: With respect to any Mortgage Loan, a valuation by a court of competent jurisdiction of the Mortgaged Property in an amount less than the then outstanding indebtedness under the Mortgage Loan, or any reduction in the amount of principal to be paid in connection with any scheduled Monthly Payment that constitutes a permanent forgiveness of principal, which valuation or reduction results from a proceeding under the Bankruptcy Code. Definitive Certificate: Any Certificate other than a Book-Entry Certificate. Deleted Mortgage Loan: A Mortgage Loan replaced or to be replaced with a Qualified Substitute Mortgage Loan. Delinquent: As used herein, a Mortgage Loan is considered to be: "30 to 59 days" or "30 or more days" delinquent when a payment due on any scheduled due date remains unpaid as of the close of business on the last business day immediately prior to the next following monthly scheduled due date; "60 to 89 days" or "60 or more days" delinquent when a payment due on any scheduled due date remains unpaid as of the close of business on the last business day immediately prior to the second following monthly scheduled due date; and so on. The determination as to whether a Mortgage Loan falls into these categories is made as of the close of business on the last business day of each month. For example, a Mortgage Loan with a payment due on July 1 that remained unpaid as of the close of business on July 31 would then be considered to be 30 to 59 days delinquent. Delinquency information as of the Cut-off Date is determined and prepared as of the close of business on the last business day immediately prior to the Cut-off Date. Depository: The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended. Depository Participant: A broker, dealer, bank or other financial institution or other Person for whom from time to time a Depository effects book-entry transfers and pledges of securities deposited with the Depository. Destroyed Mortgage Note: A Mortgage Note the original of which was permanently lost or destroyed and has not been replaced. Determination Date: As defined in the Series Supplement. Discount Fraction: With respect to each Discount Mortgage Loan, the fraction expressed as a percentage, the numerator of which is the Discount Net Mortgage Rate minus the Net Mortgage Rate (or the initial Net Mortgage Rate with respect to any Discount Mortgage Loans as to which the Mortgage Rate is modified pursuant to 3.07(a)) for such Mortgage Loan and the denominator of which is the Discount Net Mortgage Rate. The Discount Fraction with respect to each Discount Mortgage Loan is set forth as an exhibit attached to the Series Supplement. Discount Mortgage Loan: Any Mortgage Loan having a Net Mortgage Rate (or the initial Net Mortgage Rate) of less than the Discount Net Mortgage Rate per annum and any Mortgage Loan deemed to be a Discount Mortgage Loan pursuant to the definition of Qualified Substitute Mortgage Loan. Discount Net Mortgage Rate: As defined in the Series Supplement. Disqualified Organization: Any organization defined as a "disqualified organization" under Section 860E(e)(5) of the Code, and if not otherwise included, any of the following: (i) the United States, any State or political subdivision thereof, any possession of the United States, or any agency or instrumentality of any of the foregoing (other than an instrumentality which is a corporation if all of its activities are subject to tax and, except for the Freddie Mac, a majority of its board of directors is not selected by such governmental unit), (ii) a foreign government, any international organization, or any agency or instrumentality of any of the foregoing, (iii) any organization (other than certain farmers' cooperatives described in Section 521 of the Code) which is exempt from the tax imposed by Chapter 1 of the Code (including the tax imposed by Section 511 of the Code on unrelated business taxable income), (iv) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, (v) any "electing large partnership," as defined in Section 775(a) of the Code and (vi) any other Person so designated by the Trustee based upon an Opinion of Counsel that the holding of an Ownership Interest in a Class R Certificate by such Person may cause the Trust Fund or any Person having an Ownership Interest in any Class of Certificates (other than such Person) to incur a liability for any federal tax imposed under the Code that would not otherwise be imposed but for the Transfer of an Ownership Interest in a Class R Certificate to such Person. The terms "United States", "State" and "international organization" shall have the meanings set forth in Section 7701 of the Code or successor provisions. Distribution Date: The 25th day of any month beginning in the month immediately following the month of the initial issuance of the Certificates or, if such 25th day is not a Business Day, the Business Day immediately following such 25th day. Due Date: With respect to any Distribution Date and any Mortgage Loan, the day during the related Due Period on which the Monthly Payment is due. Due Period: With respect to any Distribution Date, the one-month period set forth in the Series Supplement. Eligible Account: An account that is any of the following: (i) maintained with a depository institution the debt obligations of which have been rated by each Rating Agency in its highest rating available, or (ii) an account or accounts in a depository institution in which such accounts are fully insured to the limits established by the FDIC, provided that any deposits not so insured shall, to the extent acceptable to each Rating Agency, as evidenced in writing, be maintained such that (as evidenced by an Opinion of Counsel delivered to the Trustee and each Rating Agency) the registered Holders of Certificates have a claim with respect to the funds in such account or a perfected first security interest against any collateral (which shall be limited to Permitted Investments) securing such funds that is superior to claims of any other depositors or creditors of the depository institution with which such account is maintained, or (iii) in the case of the Custodial Account, a trust account or accounts maintained in the corporate trust department of U.S. Bank, National Association, or (iv) in the case of the Certificate Account, a trust account or accounts maintained in the corporate trust division of the Trustee, or (v) an account or accounts of a depository institution acceptable to each Rating Agency (as evidenced in writing by each Rating Agency that use of any such account as the Custodial Account or the Certificate Account will not reduce the rating assigned to any Class of Certificates by such Rating Agency below the then-current rating assigned to such Certificates). Event of Default: As defined in Section 7.01. Excess Bankruptcy Loss: Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount. Excess Fraud Loss: Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount. Excess Special Hazard Loss: Any Special Hazard Loss, or portion thereof, that exceeds the then applicable Special Hazard Amount. Excess Subordinate Principal Amount: With respect to any Distribution Date on which the aggregate Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the Lowest Priority is to be reduced to zero and on which Realized Losses are to be allocated to such class or classes, the excess, if any, of (i) the amount that would otherwise be distributable in respect of principal on such class or classes of Certificates on such Distribution Date over (ii) the excess, if any, of the aggregate Certificate Principal Balance of such class or classes of Certificates immediately prior to such Distribution Date over the aggregate amount of Realized Losses to be allocated to such classes of Certificates on such Distribution Date as reduced by any amount calculated pursuant to clause (E) of the definition of Class A-P Principal Distribution Amount. With respect to any Mortgage Pool that is comprised of two or more Loan Groups, the Excess Subordinate Principal Amount will be allocated between each Loan Group on a pro rata basis in accordance with the amount of Realized Losses attributable to each Loan Group and allocated to the Certificates on such Distribution Date. Exchange Act: The Securities and Exchange Act of 1934, as amended. Extraordinary Events: Any of the following conditions with respect to a Mortgaged Property (or, with respect to a Cooperative Loan, the Cooperative Apartment) or Mortgage Loan causing or resulting in a loss which causes the liquidation of such Mortgage Loan: (a) losses that are of the type that would be covered by the fidelity bond and the errors and omissions insurance policy required to be maintained pursuant to Section 3.12(b) but are in excess of the coverage maintained thereunder; (b) nuclear reaction or nuclear radiation or radioactive contamination, all whether controlled or uncontrolled, and whether such loss be direct or indirect, proximate or remote or be in whole or in part caused by, contributed to or aggravated by a peril covered by the definition of the term "Special Hazard Loss"; (c) hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack: 1. by any government or sovereign power, de jure or de facto, or by any authority maintaining or using military, naval or air forces; or 2. by military, naval or air forces; or 3. by an agent of any such government, power, authority or forces; (d) any weapon of war employing atomic fission or radioactive force whether in time of peace or war; or (e) insurrection, rebellion, revolution, civil war, usurped power or action taken by governmental authority in hindering, combating or defending against such an occurrence, seizure or destruction under quarantine or customs regulations, confiscation by order of any government or public authority; or risks of contraband or illegal transportation or trade. Extraordinary Losses: Any loss incurred on a Mortgage Loan caused by or resulting from an Extraordinary Event. Fannie Mae: Federal National Mortgage Association, a federally chartered and privately owned corporation organized and existing under the Federal National Mortgage Association Charter Act, or any successor thereto. FDIC: Federal Deposit Insurance Corporation or any successor thereto. Final Distribution Date: The Distribution Date on which the final distribution in respect of the Certificates will be made pursuant to Section 9.01, which Final Distribution Date shall in no event be later than the end of the 90-day liquidation period described in Section 9.02. Fitch: Fitch Ratings or its successor in interest. Foreclosure Profits: As to any Distribution Date or related Determination Date and any Mortgage Loan, the excess, if any, of Liquidation Proceeds, Insurance Proceeds and REO Proceeds (net of all amounts reimbursable therefrom pursuant to Section 3.10(a)(ii)) in respect of each Mortgage Loan or REO Property for which a Cash Liquidation or REO Disposition occurred in the related Prepayment Period over the sum of the unpaid principal balance of such Mortgage Loan or REO Property (determined, in the case of an REO Disposition, in accordance with Section 3.14) plus accrued and unpaid interest at the Mortgage Rate on such unpaid principal balance from the Due Date to which interest was last paid by the Mortgagor to the first day of the month following the month in which such Cash Liquidation or REO Disposition occurred. Form 10-K Certification: As defined in Section 4.03(e). Fraud Losses: Realized Losses on Mortgage Loans as to which there was fraud in the origination of such Mortgage Loan. Freddie Mac: Federal Home Loan Mortgage Corporation, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto. Highest Priority: As of any date of determination, the Class of Subordinate Certificates then outstanding with a Certificate Principal Balance greater than zero, with the earliest priority for payments pursuant to Section 4.02(a), in the following order: Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates. Independent: When used with respect to any specified Person, means such a Person who (i) is in fact independent of the Company, the Master Servicer and the Trustee, or any Affiliate thereof, (ii) does not have any direct financial interest or any material indirect financial interest in the Company, the Master Servicer or the Trustee or in an Affiliate thereof, and (iii) is not connected with the Company, the Master Servicer or the Trustee as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions. Initial Certificate Principal Balance: With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement. Initial Monthly Payment Fund: An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement. Initial Notional Amount: With respect to any Class or Subclass of Interest Only Certificates, the amount initially used as the principal basis for the calculation of any interest payment amount, as more specifically defined in the Series Supplement. Initial Subordinate Class Percentage: As defined in the Series Supplement. Insurance Proceeds: Proceeds paid in respect of the Mortgage Loans pursuant to any Primary Insurance Policy or any other related insurance policy covering a Mortgage Loan (excluding any Certificate Policy (as defined in the Series Supplement)), to the extent such proceeds are payable to the mortgagee under the Mortgage, any Subservicer, the Master Servicer or the Trustee and are not applied to the restoration of the related Mortgaged Property (or, with respect to a Cooperative Loan, the related Cooperative Apartment) or released to the Mortgagor in accordance with the procedures that the Master Servicer would follow in servicing mortgage loans held for its own account. Insurer: Any named insurer under any Primary Insurance Policy or any successor thereto or the named insurer in any replacement policy. Interest Accrual Period: As defined in the Series Supplement. Interest Only Certificates: A Class or Subclass of Certificates not entitled to payments of principal, and designated as such in the Series Supplement. The Interest Only Certificates will have no Certificate Principal Balance. Interim Certification: As defined in Section 2.02. International Borrower: In connection with any Mortgage Loan, a borrower who is (a) a United States citizen employed in a foreign country, (b) a non-permanent resident alien employed in the United States or (c) a citizen of a country other than the United States with income derived from sources outside the United States. Junior Certificateholder: The Holder of not less than 95% of the Percentage Interests of the Junior Class of Certificates. Junior Class of Certificates: The Class of Subordinate Certificates outstanding as of the date of the repurchase of a Mortgage Loan pursuant to Section 4.07 herein that has the Lowest Priority. Late Collections: With respect to any Mortgage Loan, all amounts received during any Due Period, whether as late payments of Monthly Payments or as Insurance Proceeds, Liquidation Proceeds or otherwise, which represent late payments or collections of Monthly Payments due but delinquent for a previous Due Period and not previously recovered. Liquidation Proceeds: Amounts (other than Insurance Proceeds) received by the Master Servicer in connection with the taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or in connection with the liquidation of a defaulted Mortgage Loan through trustee's sale, foreclosure sale or otherwise, other than REO Proceeds. Loan Group: Any group of Mortgage Loans designated as a separate loan group in the Series Supplement. The Certificates relating to each Loan Group will be designated in the Series Supplement. Loan-to-Value Ratio: As of any date, the fraction, expressed as a percentage, the numerator of which is the current principal balance of the related Mortgage Loan at the date of determination and the denominator of which is the Appraised Value of the related Mortgaged Property. Lower Priority: As of any date of determination and any Class of Subordinate Certificates, any other Class of Subordinate Certificates then outstanding with a later priority for payments pursuant to Section 4.02 (a). Lowest Priority: As of any date of determination, the Class of Subordinate Certificates then outstanding with a Certificate Principal Balance greater than zero, with the latest priority for payments pursuant to Section 4.02(a), in the following order: Class B-3, Class B-2, Class B-1, Class M-3, Class M-2 and Class M-1 Certificates. Maturity Date: The latest possible maturity date, solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, by which the Certificate Principal Balance of each Class of Certificates (other than the Interest Only Certificates which have no Certificate Principal Balance) and each Uncertificated REMIC Regular Interest would be reduced to zero, as designated in the Series Supplement. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto. MERS(R)System: The system of recording transfers of Mortgages electronically maintained by MERS. MIN: The Mortgage Identification Number for Mortgage Loans registered with MERS on the MERS(R)System. MLCC: Merrill Lynch Credit Corporation, or its successor in interest. Modified Mortgage Loan: Any Mortgage Loan that has been the subject of a Servicing Modification. Modified Net Mortgage Rate: As to any Mortgage Loan that is the subject of a Servicing Modification, the Net Mortgage Rate minus the rate per annum by which the Mortgage Rate on such Mortgage Loan was reduced. MOM Loan: With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof. Monthly Payment: With respect to any Mortgage Loan (including any REO Property) and any Due Date, the payment of principal and interest due thereon in accordance with the amortization schedule at the time applicable thereto (after adjustment, if any, for Curtailments and for Deficient Valuations occurring prior to such Due Date but before any adjustment to such amortization schedule by reason of any bankruptcy, other than a Deficient Valuation, or similar proceeding or any moratorium or similar waiver or grace period and before any Servicing Modification that constitutes a reduction of the interest rate on such Mortgage Loan). Moody's: Moody's Investors Service, Inc., or its successor in interest. Mortgage: With respect to each Mortgage Note related to a Mortgage Loan which is not a Cooperative Loan, the mortgage, deed of trust or other comparable instrument creating a first lien on an estate in fee simple or leasehold interest in real property securing a Mortgage Note. Mortgage File: The mortgage documents listed in Section 2.01 pertaining to a particular Mortgage Loan and any additional documents required to be added to the Mortgage File pursuant to this Agreement. Mortgage Loans: Such of the mortgage loans transferred and assigned to the Trustee pursuant to Section 2.01 as from time to time are held or deemed to be held as a part of the Trust Fund, the Mortgage Loans originally so held being identified in the initial Mortgage Loan Schedule, and Qualified Substitute Mortgage Loans held or deemed held as part of the Trust Fund including, without limitation, (i) with respect to each Cooperative Loan, the related Mortgage Note, Security Agreement, Assignment of Proprietary Lease, Cooperative Stock Certificate, Cooperative Lease and Mortgage File and all rights appertaining thereto, and (ii) with respect to each Mortgage Loan other than a Cooperative Loan, each related Mortgage Note, Mortgage and Mortgage File and all rights appertaining thereto. Mortgage Loan Schedule: As defined in the Series Supplement. Mortgage Note: The originally executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan, together with any modification thereto. Mortgage Pool: The pool of mortgage loans, including all Loan Groups, if any, consisting of the Mortgage Loans. Mortgage Rate: As to any Mortgage Loan, the interest rate borne by the related Mortgage Note, or any modification thereto other than a Servicing Modification. Mortgaged Property: The underlying real property securing a Mortgage Loan or, with respect to a Cooperative Loan, the related Cooperative Lease and Cooperative Stock. Mortgagor: The obligor on a Mortgage Note. Net Mortgage Rate: As to each Mortgage Loan, a per annum rate of interest equal to the Adjusted Mortgage Rate less the per annum rate at which the Servicing Fee is calculated. Non-Discount Mortgage Loan: A Mortgage Loan that is not a Discount Mortgage Loan. Non-Primary Residence Loans: The Mortgage Loans designated as secured by second or vacation residences, or by non-owner occupied residences, on the Mortgage Loan Schedule. Non-United States Person: Any Person other than a United States Person. Nonrecoverable Advance: Any Advance previously made or proposed to be made by the Master Servicer or Subservicer in respect of a Mortgage Loan (other than a Deleted Mortgage Loan) which, in the good faith judgment of the Master Servicer, will not, or, in the case of a proposed Advance, would not, be ultimately recoverable by the Master Servicer from related Late Collections, Insurance Proceeds, Liquidation Proceeds, REO Proceeds or amounts reimbursable to the Master Servicer pursuant to Section 4.02(a) hereof. To the extent that any Mortgagor is not obligated under the related Mortgage documents to pay or reimburse any portion of any Servicing Advances that are outstanding with respect to the related Mortgage Loan as a result of a modification of such Mortgage Loan by the Master Servicer, which forgives amounts which the Master Servicer or Subservicer had previously advanced, and the Master Servicer determines that no other source of payment or reimbursement for such advances is available to it, such Servicing Advances shall be deemed to be Nonrecoverable Advances. The determination by the Master Servicer that it has made a Nonrecoverable Advance or that any proposed Advance would constitute a Nonrecoverable Advance, shall be evidenced by an Officers' Certificate delivered to the Company, the Trustee and any Certificate Insurer. Nonsubserviced Mortgage Loan: Any Mortgage Loan that, at the time of reference thereto, is not subject to a Subservicing Agreement. Notional Amount: With respect to any Class or Subclass of Interest Only Certificates, an amount used as the principal basis for the calculation of any interest payment amount, as more specifically defined in the Series Supplement. Officers' Certificate: A certificate signed by the Chairman of the Board, the President or a Vice President or Assistant Vice President, or a Director or Managing Director, and by the Treasurer, the Secretary, or one of the Assistant Treasurers or Assistant Secretaries of the Company or the Master Servicer, as the case may be, and delivered to the Trustee, as required by this Agreement. Opinion of Counsel: A written opinion of counsel acceptable to the Trustee and the Master Servicer, who may be counsel for the Company or the Master Servicer, provided that any opinion of counsel (i) referred to in the definition of "Disqualified Organization" or (ii) relating to the qualification of any REMIC formed under the Series Supplement or compliance with the REMIC Provisions must, unless otherwise specified, be an opinion of Independent counsel. Outstanding Mortgage Loan: As to any Due Date, a Mortgage Loan (including an REO Property) which was not the subject of a Principal Prepayment in Full, Cash Liquidation or REO Disposition and which was not purchased, deleted or substituted for prior to such Due Date pursuant to Section 2.02, 2.03, 2.04 or 4.07. Ownership Interest: As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee. Pass-Through Rate: As defined in the Series Supplement. Paying Agent: The Trustee or any successor Paying Agent appointed by the Trustee. Percentage Interest: With respect to any Certificate (other than a Class R Certificate), the undivided percentage ownership interest in the related Class evidenced by such Certificate, which percentage ownership interest shall be equal to the Initial Certificate Principal Balance thereof or Initial Notional Amount (in the case of any Interest Only Certificate) thereof divided by the aggregate Initial Certificate Principal Balance or the aggregate of the Initial Notional Amounts, as applicable, of all the Certificates of the same Class. With respect to a Class R Certificate, the interest in distributions to be made with respect to such Class evidenced thereby, expressed as a percentage, as stated on the face of each such Certificate. Permitted Investments: One or more of the following: (i) obligations of or guaranteed as to timely payment of principal and interest by the United States or any agency or instrumentality thereof when such obligations are backed by the full faith and credit of the United States; (ii) repurchase agreements on obligations specified in clause (i) maturing not more than one month from the date of acquisition thereof, provided that the unsecured short-term debt obligations of the party agreeing to repurchase such obligations are at the time rated by each Rating Agency in its highest short-term rating available; (iii) federal funds, certificates of deposit, demand deposits, time deposits and bankers' acceptances (which shall each have an original maturity of not more than 90 days and, in the case of bankers' acceptances, shall in no event have an original maturity of more than 365 days or a remaining maturity of more than 30 days) denominated in United States dollars of any U.S. depository institution or trust company incorporated under the laws of the United States or any state thereof or of any domestic branch of a foreign depository institution or trust company; provided that the debt obligations of such depository institution or trust company at the date of acquisition thereof have been rated by each Rating Agency in its highest short-term rating available; and, provided further that, if the original maturity of such short-term obligations of a domestic branch of a foreign depository institution or trust company shall exceed 30 days, the short-term rating of such institution shall be A-1+ in the case of Standard & Poor's if Standard & Poor's is a Rating Agency; (iv) commercial paper and demand notes (having original maturities of not more than 365 days) of any corporation incorporated under the laws of the United States or any state thereof which on the date of acquisition has been rated by each Rating Agency in its highest short-term rating available; provided that such commercial paper shall have a remaining maturity of not more than 30 days; (v) any mutual fund, money market fund, common trust fund or other pooled investment vehicle, the assets of which are limited to instruments that otherwise would constitute Permitted Investments hereunder and have been rated by each Rating Agency in its highest short-term rating available (in the case of Standard & Poor's such rating shall be either AAAm or AAAm-G), including any such fund that is managed by the Trustee or any affiliate of the Trustee or for which the Trustee or any of its affiliates acts as an adviser; and (vi) other obligations or securities that are acceptable to each Rating Agency as a Permitted Investment hereunder and will not reduce the rating assigned to any Class of Certificates by such Rating Agency (without giving effect to any Certificate Policy (as defined in the Series Supplement) in the case of Insured Certificates (as defined in the Series Supplement) below the lower of the then-current rating assigned to such Certificates by such Rating Agency, as evidenced in writing; provided, however, no instrument shall be a Permitted Investment if it represents, either (1) the right to receive only interest payments with respect to the underlying debt instrument or (2) the right to receive both principal and interest payments derived from obligations underlying such instrument and the principal and interest payments with respect to such instrument provide a yield to maturity greater than 120% of the yield to maturity at par of such underlying obligations. References herein to the highest rating available on unsecured long-term debt shall mean AAA in the case of Standard & Poor's and Fitch and Aaa in the case of Moody's, and for purposes of this Agreement, any references herein to the highest rating available on unsecured commercial paper and short-term debt obligations shall mean the following: A-1 in the case of Standard & Poor's, P-1 in the case of Moody's and F-1 in the case of Fitch; provided, however, that any Permitted Investment that is a short-term debt obligation rated A-1 by Standard & Poor's must satisfy the following additional conditions: (i) the total amount of debt from A-1 issuers must be limited to the investment of monthly principal and interest payments (assuming fully amortizing collateral); (ii) the total amount of A-1 investments must not represent more than 20% of the aggregate outstanding Certificate Principal Balance of the Certificates and each investment must not mature beyond 30 days; (iii) the terms of the debt must have a predetermined fixed dollar amount of principal due at maturity that cannot vary; and (iv) if the investments may be liquidated prior to their maturity or are being relied on to meet a certain yield, interest must be tied to a single interest rate index plus a single fixed spread (if any) and must move proportionately with that index. Permitted Transferee: Any Transferee of a Class R Certificate, other than a Disqualified Organization or Non-United States Person. Person: Any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. Pledged Amount: With respect to any Pledged Asset Loan, the amount of money remitted to Combined Collateral LLC, at the direction of or for the benefit of the related Mortgagor. Pledged Asset Loan: Any Mortgage Loan supported by Pledged Assets or such other collateral, other than the related Mortgaged Property, set forth in the Series Supplement. Pledged Assets: With respect to any Mortgage Loan, all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description pledged by Combined Collateral LLC as security in respect of any Realized Losses in connection with such Mortgage Loan up to the Pledged Amount for such Mortgage Loan, and any related collateral, or such other collateral as may be set forth in the Series Supplement. Pledged Asset Mortgage Servicing Agreement: The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement. Pool Stated Principal Balance: As to any Distribution Date, the aggregate of the Stated Principal Balances of each Mortgage Loan. Pool Strip Rate: With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum. Prepayment Distribution Trigger: With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates. Prepayment Interest Shortfall: As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment. Prepayment Period: As to any Distribution Date and Principal Prepayment in Full, the period commencing on the 16th day of the month prior to the month in which that Distribution Date occurs and ending on the 15th day of the month in which such Distribution Date occurs. Primary Insurance Policy: Each primary policy of mortgage guaranty insurance or any replacement policy therefor referred to in Section 2.03(b)(iv) and (v). Principal Only Certificates: A Class of Certificates not entitled to payments of interest, and more specifically designated as such in the Series Supplement. Principal Prepayment: Any payment of principal or other recovery on a Mortgage Loan, including a recovery that takes the form of Liquidation Proceeds or Insurance Proceeds, which is received in advance of its scheduled Due Date and is not accompanied by an amount as to interest representing scheduled interest on such payment due on any date or dates in any month or months subsequent to the month of prepayment. Principal Prepayment in Full: Any Principal Prepayment of the entire principal balance of a Mortgage Loan that is made by the Mortgagor. Program Guide: Collectively, the Client Guide and the Servicer Guide for Residential Funding's Expanded Criteria Mortgage Program. Purchase Price: With respect to any Mortgage Loan (or REO Property) required to be or otherwise purchased on any date pursuant to Section 2.02, 2.03, 2.04 or 4.07, an amount equal to the sum of (i) 100% of the Stated Principal Balance thereof plus the principal portion of any related unreimbursed Advances and (ii) unpaid accrued interest at the Adjusted Mortgage Rate (or Modified Net Mortgage Rate plus the rate per annum at which the Servicing Fee is calculated in the case of a Modified Mortgage Loan) (or at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) in the case of a purchase made by the Master Servicer) on the Stated Principal Balance thereof to the Due Date in the Due Period related to the Distribution Date occurring in the month following the month of purchase from the Due Date to which interest was last paid by the Mortgagor. Qualified Substitute Mortgage Loan: A Mortgage Loan substituted by Residential Funding or the Company for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in an Officers' Certificate delivered to the Trustee, with a copy to the Custodian, (i) have an outstanding principal balance, after deduction of the principal portion of the monthly payment due in the month of substitution (or in the case of a substitution of more than one Mortgage Loan for a Deleted Mortgage Loan, an aggregate outstanding principal balance, after such deduction), not in excess of the Stated Principal Balance of the Deleted Mortgage Loan (the amount of any shortfall to be deposited by Residential Funding in the Custodial Account in the month of substitution); (ii) have a Mortgage Rate and a Net Mortgage Rate no lower than and not more than 1% per annum higher than the Mortgage Rate and Net Mortgage Rate, respectively, of the Deleted Mortgage Loan as of the date of substitution; (iii) have a Loan-to-Value Ratio at the time of substitution no higher than that of the Deleted Mortgage Loan at the time of substitution; (iv) have a remaining term to stated maturity not greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Sections 2.03 and 2.04 hereof and Section 4 of the Assignment Agreement; and (vi) have a Pool Strip Rate equal to or greater than that of the Deleted Mortgage Loan. Notwithstanding any other provisions herein, (x) with respect to any Qualified Substitute Mortgage Loan substituted for a Deleted Mortgage Loan which was a Discount Mortgage Loan, such Qualified Substitute Mortgage Loan shall be deemed to be a Discount Mortgage Loan and to have a Discount Fraction equal to the Discount Fraction of the Deleted Mortgage Loan and (y) in the event that the "Pool Strip Rate" of any Qualified Substitute Mortgage Loan as calculated pursuant to the definition of "Pool Strip Rate" is greater than the Pool Strip Rate of the related Deleted Mortgage Loan (i) the Pool Strip Rate of such Qualified Substitute Mortgage Loan shall be equal to the Pool Strip Rate of the related Deleted Mortgage Loan for purposes of calculating the Pass-Through Rate on the Class A-V Certificates and (ii) the excess of the Pool Strip Rate on such Qualified Substitute Mortgage Loan as calculated pursuant to the definition of "Pool Strip Rate" over the Pool Strip Rate on the related Deleted Mortgage Loan shall be payable to the Class R Certificates pursuant to Section 4.02 hereof. Rating Agency: Each of the statistical credit rating agencies specified in the Preliminary Statement of the Series Supplement. If any agency or a successor is no longer in existence, "Rating Agency" shall be such statistical credit rating agency, or other comparable Person, designated by the Company, notice of which designation shall be given to the Trustee and the Master Servicer. Realized Loss: With respect to each Mortgage Loan (or REO Property): (a) as to which a Cash Liquidation or REO Disposition has occurred, an amount (not less than zero) equal to (i) the Stated Principal Balance of the Mortgage Loan (or REO Property) as of the date of Cash Liquidation or REO Disposition, plus (ii) interest (and REO Imputed Interest, if any) at the Net Mortgage Rate from the Due Date as to which interest was last paid or advanced to Certificateholders up to the Due Date in the Due Period related to the Distribution Date on which such Realized Loss will be allocated pursuant to Section 4.05 on the Stated Principal Balance of such Mortgage Loan (or REO Property) outstanding during each Due Period that such interest was not paid or advanced, minus (iii) the proceeds, if any, received during the month in which such Cash Liquidation (or REO Disposition) occurred, to the extent applied as recoveries of interest at the Net Mortgage Rate and to principal of the Mortgage Loan, net of the portion thereof reimbursable to the Master Servicer or any Subservicer with respect to related Advances, Servicing Advances or other expenses as to which the Master Servicer or Subservicer is entitled to reimbursement thereunder but which have not been previously reimbursed, (b) which is the subject of a Servicing Modification, (i) (1) the amount by which the interest portion of a Monthly Payment or the principal balance of such Mortgage Loan was reduced or (2) the sum of any other amounts owing under the Mortgage Loan that were forgiven and that constitute Servicing Advances that are reimbursable to the Master Servicer or a Subservicer, and (ii) any such amount with respect to a Monthly Payment that was or would have been due in the month immediately following the month in which a Principal Prepayment or the Purchase Price of such Mortgage Loan is received or is deemed to have been received, (c) which has become the subject of a Deficient Valuation, the difference between the principal balance of the Mortgage Loan outstanding immediately prior to such Deficient Valuation and the principal balance of the Mortgage Loan as reduced by the Deficient Valuation, or (d) which has become the object of a Debt Service Reduction, the amount of such Debt Service Reduction. Notwithstanding the above, neither a Deficient Valuation nor a Debt Service Reduction shall be deemed a Realized Loss hereunder so long as the Master Servicer has notified the Trustee in writing that the Master Servicer is diligently pursuing any remedies that may exist in connection with the representations and warranties made regarding the related Mortgage Loan and either (A) the related Mortgage Loan is not in default with regard to payments due thereunder or (B) delinquent payments of principal and interest under the related Mortgage Loan and any premiums on any applicable primary hazard insurance policy and any related escrow payments in respect of such Mortgage Loan are being advanced on a current basis by the Master Servicer or a Subservicer, in either case without giving effect to any Debt Service Reduction. To the extent the Master Servicer receives Subsequent Recoveries with respect to any Mortgage Loan, the amount of the Realized Loss with respect to that Mortgage Loan will be reduced to the extent such recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. Record Date: With respect to each Distribution Date, the close of business on the last Business Day of the month next preceding the month in which the related Distribution Date occurs. Regular Certificate: Any of the Certificates other than a Class R Certificate. Regulation AB: Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Commission in the adopting release (Asset-Backed Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (January 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time. Reimbursement Amounts: As defined in Section 3.22. REMIC: A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code. REMIC Administrator: Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement. REMIC Provisions: Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and temporary and final regulations (or, to the extent not inconsistent with such temporary or final regulations, proposed regulations) and published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time. REO Acquisition: The acquisition by the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders of any REO Property pursuant to Section 3.14. REO Disposition: As to any REO Property, a determination by the Master Servicer that it has received all Insurance Proceeds, Liquidation Proceeds, REO Proceeds and other payments and recoveries (including proceeds of a final sale) which the Master Servicer expects to be finally recoverable from the sale or other disposition of the REO Property. REO Imputed Interest: As to any REO Property, for any period, an amount equivalent to interest (at the Net Mortgage Rate that would have been applicable to the related Mortgage Loan had it been outstanding) on the unpaid principal balance of the Mortgage Loan as of the date of acquisition thereof for such period. REO Proceeds: Proceeds, net of expenses, received in respect of any REO Property (including, without limitation, proceeds from the rental of the related Mortgaged Property or, with respect to a Cooperative Loan, the related Cooperative Apartment) which proceeds are required to be deposited into the Custodial Account only upon the related REO Disposition. REO Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed in lieu of foreclosure in connection with a defaulted Mortgage Loan. Reportable Modified Mortgage Loan: Any Mortgage Loan that (i) has been subject to an interest rate reduction, (ii) has been subject to a term extension or (iii) has had amounts owing on such Mortgage Loan capitalized by adding such amount to the Stated Principal Balance of such Mortgage Loan; provided, however, that a Mortgage Loan modified in accordance with clause (i) above for a temporary period shall not be a Reportable Modified Mortgage Loan if such Mortgage Loan has not been delinquent in payments of principal and interest for six months since the date of such modification if that interest rate reduction is not made permanent thereafter. Request for Release: A request for release, the forms of which are attached as Exhibit F hereto, or an electronic request in a form acceptable to the Custodian. Required Insurance Policy: With respect to any Mortgage Loan, any insurance policy which is required to be maintained from time to time under this Agreement, the Program Guide or the related Subservicing Agreement in respect of such Mortgage Loan. Required Surety Payment: With respect to any Additional Collateral Loan that becomes a Liquidated Mortgage Loan, the lesser of (i) the principal portion of the Realized Loss with respect to such Mortgage Loan and (ii) the excess, if any, of (a) the amount of Additional Collateral required at origination with respect to such Mortgage Loan over (b) the net proceeds realized by the Subservicer from the related Additional Collateral. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Company and any successor thereto. Responsible Officer: When used with respect to the Trustee, any officer of the Corporate Trust Department of the Trustee, including any Senior Vice President, any Vice President, any Assistant Vice President, any Assistant Secretary, any Trust Officer or Assistant Trust Officer with particular responsibility for this transaction, or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers to whom, with respect to a particular matter, such matter is referred. Retail Certificates: A Senior Certificate, if any, offered in smaller minimum denominations than other Senior Certificates, and designated as such in the Series Supplement. Schedule of Discount Fractions: The schedule setting forth the Discount Fractions with respect to the Discount Mortgage Loans, attached as an exhibit to the Series Supplement. Securitization Transaction: Any transaction involving a sale or other transfer of mortgage loans directly or indirectly to an issuing entity in connection with an issuance of publicly offered or privately placed, rated or unrated mortgage-backed securities. Security Agreement: With respect to a Cooperative Loan, the agreement creating a security interest in favor of the originator in the related Cooperative Stock. Seller: As to any Mortgage Loan, a Person, including any Subservicer, that executed a Seller's Agreement applicable to such Mortgage Loan. Seller's Agreement: An agreement for the origination and sale of Mortgage Loans generally in the form of the Seller Contract referred to or contained in the Program Guide, or in such other form as has been approved by the Master Servicer and the Company, each containing representations and warranties in respect of one or more Mortgage Loans consistent in all material respects with those set forth in the Program Guide. Senior Accelerated Distribution Percentage: With respect to any Distribution Date occurring on or prior to the 60th Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100%. With respect to any Distribution Date thereafter and any such Loan Group, if applicable, as follows: (i) for any Distribution Date after the 60th Distribution Date but on or prior to the 72nd Distribution Date, the related Senior Percentage for such Distribution Date plus 70% of the related Subordinate Percentage for such Distribution Date; (ii) for any Distribution Date after the 72nd Distribution Date but on or prior to the 84th Distribution Date, the related Senior Percentage for such Distribution Date plus 60% of the related Subordinate Percentage for such Distribution Date; (iii) for any Distribution Date after the 84th Distribution Date but on or prior to the 96th Distribution Date, the related Senior Percentage for such Distribution Date plus 40% of the related Subordinate Percentage for such Distribution Date; (iv) for any Distribution Date after the 96th Distribution Date but on or prior to the 108th Distribution Date, the related Senior Percentage for such Distribution Date plus 20% of the related Subordinate Percentage for such Distribution Date; and (v) for any Distribution Date thereafter, the Senior Percentage for such Distribution Date; provided, however, (i) that any scheduled reduction to the Senior Accelerated Distribution Percentage described above shall not occur as of any Distribution Date unless either (a)(1)(X) the outstanding principal balance of the Mortgage Loans delinquent 60 days or more (including Mortgage Loans which are in foreclosure, have been foreclosed or otherwise liquidated, or with respect to which the Mortgagor is in bankruptcy and any REO Property) averaged over the last six months, as a percentage of the aggregate outstanding Certificate Principal Balance of the Subordinate Certificates, is less than 50% or (Y) the outstanding principal balance of Mortgage Loans delinquent 60 days or more (including Mortgage Loans which are in foreclosure, have been foreclosed or otherwise liquidated, or with respect to which the Mortgagor is in bankruptcy and any REO Property) averaged over the last six months, as a percentage of the aggregate outstanding principal balance of all Mortgage Loans averaged over the last six months, does not exceed 2% and (2) Realized Losses on the Mortgage Loans to date for such Distribution Date if occurring during the sixth, seventh, eighth, ninth or tenth year (or any year thereafter) after the Closing Date are less than 30%, 35%, 40%, 45% or 50%, respectively, of the sum of the Initial Certificate Principal Balances of the Subordinate Certificates or (b)(1) the outstanding principal balance of Mortgage Loans delinquent 60 days or more (including Mortgage Loans which are in foreclosure, have been foreclosed or otherwise liquidated, or with respect to which the Mortgagor is in bankruptcy and any REO Property) averaged over the last six months, as a percentage of the aggregate outstanding principal balance of all Mortgage Loans averaged over the last six months, does not exceed 4% and (2) Realized Losses on the Mortgage Loans to date for such Distribution Date, if occurring during the sixth, seventh, eighth, ninth or tenth year (or any year thereafter) after the Closing Date are less than 10%, 15%, 20%, 25% or 30%, respectively, of the sum of the Initial Certificate Principal Balances of the Subordinate Certificates, and (ii) that for any Distribution Date on which the Senior Percentage is greater than the Senior Percentage as of the Closing Date, the Senior Accelerated Distribution Percentage for such Distribution Date shall be 100%, or, if the Mortgage Pool is comprised of two or more Loan Groups, for any Distribution Date on which the weighted average of the Senior Percentages for each Loan Group, weighted on the basis of the Stated Principal Balances of the Mortgage Loans in the related Loan Group (excluding the Discount Fraction of the Discount Mortgage Loans in such Loan Group) exceeds the weighted average of the initial Senior Percentages (calculated on such basis) for each Loan Group, each of the Senior Accelerated Distribution Percentages for such Distribution Date will equal 100%. Notwithstanding the foregoing, upon the reduction of the Certificate Principal Balances of the related Senior Certificates (other than the Class A-P Certificates, if any) to zero, the related Senior Accelerated Distribution Percentage shall thereafter be 0%. Senior Certificate: As defined in the Series Supplement. Senior Percentage: As defined in the Series Supplement. Senior Support Certificate: A Senior Certificate that provides additional credit enhancement to certain other classes of Senior Certificates and designated as such in the Preliminary Statement of the Series Supplement. Series: All of the Certificates issued pursuant to a Pooling and Servicing Agreement and bearing the same series designation. Series Supplement: The agreement into which this Standard Terms is incorporated and pursuant to which, together with this Standard Terms, a Series of Certificates is issued. Servicing Accounts: The account or accounts created and maintained pursuant to Section 3.08. Servicing Criteria: The "servicing criteria" set forth in Item 1122(d) of Regulation AB, as such may be amended from time to time. Servicing Advances: All customary, reasonable and necessary "out of pocket" costs and expenses incurred in connection with a default, delinquency or other unanticipated event by the Master Servicer or a Subservicer in the performance of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property or, with respect to a Cooperative Loan, the related Cooperative Apartment, (ii) any enforcement or judicial proceedings, including foreclosures, including any expenses incurred in relation to any such proceedings that result from the Mortgage Loan being registered on the MERS System, (iii) the management and liquidation of any REO Property, (iv) any mitigation procedures implemented in accordance with Section 3.07, and (v) compliance with the obligations under Sections 3.01, 3.08, 3.11, 3.12(a) and 3.14, including, if the Master Servicer or any Affiliate of the Master Servicer provides services such as appraisals and brokerage services that are customarily provided by Persons other than servicers of mortgage loans, reasonable compensation for such services. Servicing Advance Reimbursement Amounts: As defined in Section 3.22. Servicing Fee: With respect to any Mortgage Loan and Distribution Date, the fee payable monthly to the Master Servicer in respect of master servicing compensation that accrues at an annual rate designated on the Mortgage Loan Schedule as the "MSTR SERV FEE" for such Mortgage Loan, as may be adjusted with respect to successor Master Servicers as provided in Section 7.02. Servicing Modification: Any reduction of the interest rate on or the outstanding principal balance of a Mortgage Loan, any extension of the final maturity date of a Mortgage Loan, and any increase to the outstanding principal balance of a Mortgage Loan by adding to the Stated Principal Balance unpaid principal and interest and other amounts owing under the Mortgage Loan, in each case pursuant to a modification of a Mortgage Loan that is in default, or for which, in the judgment of the Master Servicer, default is reasonably foreseeable in accordance with Section 3.07(a). Servicing Officer: Any officer of the Master Servicer involved in, or responsible for, the administration and servicing of the Mortgage Loans whose name and specimen signature appear on a list of servicing officers furnished to the Trustee by the Master Servicer, as such list may from time to time be amended. Special Hazard Loss: Any Realized Loss not in excess of the cost of the lesser of repair or replacement of a Mortgaged Property (or, with respect to a Cooperative Loan, the related Cooperative Apartment) suffered by such Mortgaged Property (or Cooperative Apartment) on account of direct physical loss, exclusive of (i) any loss of a type covered by a hazard policy or a flood insurance policy required to be maintained in respect of such Mortgaged Property pursuant to Section 3.12(a), except to the extent of the portion of such loss not covered as a result of any coinsurance provision and (ii) any Extraordinary Loss. Standard & Poor's: Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc., or its successor in interest. Stated Principal Balance: With respect to any Mortgage Loan or related REO Property, as of any Distribution Date, (i) the sum of (a) the Cut-off Date Principal Balance of the Mortgage Loan plus (b) any amount by which the Stated Principal Balance of the Mortgage Loan has been increased pursuant to a Servicing Modification, minus (ii) the sum of (a) the principal portion of the Monthly Payments due with respect to such Mortgage Loan or REO Property during each Due Period ending with the Due Period related to the previous Distribution Date which were received or with respect to which an Advance was made, and (b) all Principal Prepayments with respect to such Mortgage Loan or REO Property, and all Insurance Proceeds, Liquidation Proceeds and REO Proceeds, to the extent applied by the Master Servicer as recoveries of principal in accordance with Section 3.14 with respect to such Mortgage Loan or REO Property, in each case which were distributed pursuant to Section 4.02 on any previous Distribution Date, and (c) any Realized Loss allocated to Certificateholders with respect thereto for any previous Distribution Date. Subclass: With respect to the Class A-V Certificates, any Subclass thereof issued pursuant to Section 5.01(c). Any such Subclass will represent the Uncertificated Class A-V REMIC Regular Interest or Interests specified by the initial Holder of the Class A-V Certificates pursuant to Section 5.01(c). Subordinate Certificate: Any one of the Class M Certificates or Class B Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and Exhibit C, respectively. Subordinate Class Percentage: With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date. Subordinate Percentage: As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date. Subsequent Recoveries: As of any Distribution Date, amounts received by the Master Servicer (net of any related expenses permitted to be reimbursed pursuant to Section 3.10) or surplus amounts held by the Master Servicer to cover estimated expenses (including, but not limited to, recoveries in respect of the representations and warranties made by the related Seller pursuant to the applicable Seller's Agreement and assigned to the Trustee pursuant to Section 2.04) specifically related to a Mortgage Loan that was the subject of a Cash Liquidation or an REO Disposition prior to the related Prepayment Period that resulted in a Realized Loss. Subserviced Mortgage Loan: Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement. Subservicer: Any Person with whom the Master Servicer has entered into a Subservicing Agreement and who generally satisfied the requirements set forth in the Program Guide in respect of the qualification of a Subservicer as of the date of its approval as a Subservicer by the Master Servicer. Subservicer Advance: Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement. Subservicing Account: An account established by a Subservicer in accordance with Section 3.08. Subservicing Agreement: The written contract between the Master Servicer and any Subservicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02, generally in the form of the servicer contract referred to or contained in the Program Guide or in such other form as has been approved by the Master Servicer and the Company. With respect to Additional Collateral Loans subserviced by MLCC, the Subservicing Agreement shall also include the Addendum and Assignment Agreement and the Pledged Asset Mortgage Servicing Agreement. With respect to any Pledged Asset Loan subserviced by GMAC Mortgage Corporation, the Addendum and Assignment Agreement, dated as of November 24, 1998, between the Master Servicer and GMAC Mortgage Corporation, as such agreement may be amended from time to time. Subservicing Fee: As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan. Successor Master Servicer: As defined in Section 3.22. Surety: Ambac, or its successors in interest, or such other surety as may be identified in the Series Supplement. Surety Bond: The Limited Purpose Surety Bond (Policy No. AB0039BE), dated February 28, 1996 in respect to Mortgage Loans originated by MLCC, or the Surety Bond (Policy No. AB0240BE), dated March 17, 1999 in respect to Mortgage Loans originated by Novus Financial Corporation, in each case issued by Ambac for the benefit of certain beneficiaries, including the Trustee for the benefit of the Holders of the Certificates, but only to the extent that such Surety Bond covers any Additional Collateral Loans, or such other Surety Bond as may be identified in the Series Supplement. Tax Returns: The federal income tax return on Internal Revenue Service Form 1066, U.S. Real Estate Mortgage Investment Conduit Income Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation, or any successor forms, to be filed on behalf of any REMIC formed under the Series Supplement and under the REMIC Provisions, together with any and all other information, reports or returns that may be required to be furnished to the Certificateholders or filed with the Internal Revenue Service or any other governmental taxing authority under any applicable provisions of federal, state or local tax laws. Transaction Party: As defined in Section 12.02(a). Transfer: Any direct or indirect transfer, sale, pledge, hypothecation or other form of assignment of any Ownership Interest in a Certificate. Transferee: Any Person who is acquiring by Transfer any Ownership Interest in a Certificate. Transferor: Any Person who is disposing by Transfer of any Ownership Interest in a Certificate. Trust Fund: The segregated pool of assets related to a Series, with respect to which one or more REMIC elections are to be made pursuant to this Agreement, consisting of: (i) the Mortgage Loans and the related Mortgage Files and collateral securing such Mortgage Loans, (ii) all payments on and collections in respect of the Mortgage Loans due after the Cut-off Date as shall be on deposit in the Custodial Account or in the Certificate Account and identified as belonging to the Trust Fund, including the proceeds from the liquidation of Additional Collateral for any Additional Collateral Loan or Pledged Assets for any Pledged Asset Loan, but not including amounts on deposit in the Initial Monthly Payment Fund, (iii) property that secured a Mortgage Loan and that has been acquired for the benefit of the Certificateholders by foreclosure or deed in lieu of foreclosure, (iv) the hazard insurance policies and Primary Insurance Policies, if any, the Pledged Assets with respect to each Pledged Asset Loan, and the interest in the Surety Bond transferred to the Trustee pursuant to Section 2.01, and (v) all proceeds of clauses (i) through (iv) above. Trustee Information: As specified in Section 12.05(a)(i)(A). Uninsured Cause: Any cause of damage to property subject to a Mortgage such that the complete restoration of such property is not fully reimbursable by the hazard insurance policies. United States Person or U.S. Person: (i) A citizen or resident of the United States, (ii) a corporation, partnership or other entity treated as a corporation or partnership for United States federal income tax purposes organized in or under the laws of the United States or any state thereof or the District of Columbia (unless, in the case of a partnership, Treasury regulations provide otherwise), provided that, for purposes solely of the restrictions on the transfer of residual interests, no partnership or other entity treated as a partnership for United States federal income tax purposes shall be treated as a United States Person or U.S. Person unless all persons that own an interest in such partnership either directly or indirectly through any chain of entities no one of which is a corporation for United States federal income tax purposes are required by the applicable operating agreement to be United States Persons, (iii) an estate the income of which is includible in gross income for United States tax purposes, regardless of its source, or (iv) a trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States persons have authority to control all substantial decisions of the trust. Notwithstanding the preceding sentence, to the extent provided in Treasury regulations, certain Trusts in existence on August 20, 1996, and treated as United States persons prior to such date, that elect to continue to be treated as United States persons will also be a U.S. Person. U.S.A. Patriot Act: Uniting and Strengthening America by Providing Appropriate Tools to Intercept and Obstruct Terrorism Act of 2001, as amended. Voting Rights: The portion of the voting rights of all of the Certificates which is allocated to any Certificate, and more specifically designated in Article XI of the Series Supplement. Section 1.02. Use of Words and Phrases. "Herein," "hereby," "hereunder," `hereof," "hereinbefore," "hereinafter" and other equivalent words refer to the Pooling and Servicing Agreement as a whole. All references herein to Articles, Sections or Subsections shall mean the corresponding Articles, Sections and Subsections in the Pooling and Servicing Agreement. The definitions set forth herein include both the singular and the plural.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES Section 2.01. Conveyance of Mortgage Loans. (a) The Company, concurrently with the execution and delivery hereof, does hereby assign to the Trustee for the benefit of the Certificateholders without recourse all the right, title and interest of the Company in and to the Mortgage Loans, including all interest and principal received on or with respect to the Mortgage Loans after the Cut-off Date (other than payments of principal and interest due on the Mortgage Loans in the month of the Cut-off Date). In connection with such transfer and assignment, the Company does hereby deliver to the Trustee the Certificate Policy (as defined in the Series Supplement), if any for the benefit of the Holders of the Insured Certificates (as defined in the Series Supplement). (b) In connection with such assignment, except as set forth in Section 2.01(c) and subject to Section 2.01(d) below, the Company does hereby deliver to, and deposit with, the Trustee, or to and with one or more Custodians, as the duly appointed agent or agents of the Trustee for such purpose, the following documents or instruments (or copies thereof as permitted by this Section) (I) with respect to each Mortgage Loan so assigned (other than a Cooperative Loan): (i) The original Mortgage Note, endorsed without recourse in blank or to the order of the Trustee, and showing an unbroken chain of endorsements from the originator thereof to the Person endorsing it to the Trustee, or with respect to any Destroyed Mortgage Note, an original lost note affidavit from the related Seller or Residential Funding stating that the original Mortgage Note was lost, misplaced or destroyed, together with a copy of the related Mortgage Note; (ii) The original Mortgage, noting the presence of the MIN of the Mortgage Loan and language indicating that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM Loan, with evidence of recording indicated thereon or a copy of the Mortgage with evidence of recording indicated thereon; (iii) Unless the Mortgage Loan is registered on the MERS(R)System, an original Assignment of the Mortgage to the Trustee with evidence of recording indicated thereon or a copy of such assignment with evidence of recording indicated thereon; (iv) The original recorded assignment or assignments of the Mortgage showing an unbroken chain of title from the originator thereof to the Person assigning it to the Trustee (or to MERS, if the Mortgage Loan is registered on the MERS(R)System and noting the presence of a MIN) with evidence of recordation noted thereon or attached thereto, or a copy of such assignment or assignments of the Mortgage with evidence of recording indicated thereon; and (v) The original of each modification, assumption agreement or preferred loan agreement, if any, relating to such Mortgage Loan or a copy of each modification, assumption agreement or preferred loan agreement. and (II) with respect to each Cooperative Loan so assigned: (i) The original Mortgage Note, endorsed without recourse to the order of the Trustee and showing an unbroken chain of endorsements from the originator thereof to the Person endorsing it to the Trustee, or with respect to any Destroyed Mortgage Note, an original lost note affidavit from the related Seller or Residential Funding stating that the original Mortgage Note was lost, misplaced or destroyed, together with a copy of the related Mortgage Note; (ii) A counterpart of the Cooperative Lease and the Assignment of Proprietary Lease to the originator of the Cooperative Loan with intervening assignments showing an unbroken chain of title from such originator to the Trustee; (iii) The related Cooperative Stock Certificate, representing the related Cooperative Stock pledged with respect to such Cooperative Loan, together with an undated stock power (or other similar instrument) executed in blank; (iv) The original recognition agreement by the Cooperative of the interests of the mortgagee with respect to the related Cooperative Loan; (v) The Security Agreement; (vi) Copies of the original UCC-1 financing statement, and any continuation statements, filed by the originator of such Cooperative Loan as secured party, each with evidence of recording thereof, evidencing the interest of the originator under the Security Agreement and the Assignment of Proprietary Lease; (vii) Copies of the filed UCC-3 assignments of the security interest referenced in clause (vi) above showing an unbroken chain of title from the originator to the Trustee, each with evidence of recording thereof, evidencing the interest of the originator under the Security Agreement and the Assignment of Proprietary Lease; (viii) An executed assignment of the interest of the originator in the Security Agreement, Assignment of Proprietary Lease and the recognition agreement referenced in clause (iv) above, showing an unbroken chain of title from the originator to the Trustee; (ix) The original of each modification, assumption agreement or preferred loan agreement, if any, relating to such Cooperative Loan; and (x) A duly completed UCC-1 financing statement showing the Master Servicer as debtor, the Company as secured party and the Trustee as assignee and a duly completed UCC-1 financing statement showing the Company as debtor and the Trustee as secured party, each in a form sufficient for filing, evidencing the interest of such debtors in the Cooperative Loans. (c) The Company may, in lieu of delivering the original of the documents set forth in Section 2.01(b)(I)(ii), (iii), (iv) and (v) and Section (b)(II)(ii), (iv), (vii), (ix) and (x) (or copies thereof as permitted by Section 2.01(b)) to the Trustee or the Custodian or Custodians, deliver such documents to the Master Servicer, and the Master Servicer shall hold such documents in trust for the use and benefit of all present and future Certificateholders until such time as is set forth in the next sentence. Within thirty Business Days following the earlier of (i) the receipt of the original of all of the documents or instruments set forth in Section 2.01(b)(I)(ii), (iii), (iv) and (v) and Section (b)(II)(ii), (iv), (vii), (ix) and (x) (or copies thereof as permitted by such Section) for any Mortgage Loan and (ii) a written request by the Trustee to deliver those documents with respect to any or all of the Mortgage Loans then being held by the Master Servicer, the Master Servicer shall deliver a complete set of such documents to the Trustee or the Custodian or Custodians that are the duly appointed agent or agents of the Trustee. The parties hereto agree that it is not intended that any Mortgage Loan be included in the Trust Fund that is either (i) a "High-Cost Home Loan" as defined in the New Jersey Home Ownership Act effective November 27, 2003, (ii) a "High-Cost Home Loan" as defined in the New Mexico Home Loan Protection Act effective January 1, 2004, (iii) a "High Cost Home Mortgage Loan" as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined in the Indiana House Enrolled Act No. 1229, effective as of January 1, 2005. (d) Notwithstanding the provisions of Section 2.01(c), in connection with any Mortgage Loan, if the Company cannot deliver the original of the Mortgage, any assignment, modification, assumption agreement or preferred loan agreement (or copy thereof as permitted by Section 2.01(b)) with evidence of recording thereon concurrently with the execution and delivery of this Agreement because of (i) a delay caused by the public recording office where such Mortgage, assignment, modification, assumption agreement or preferred loan agreement as the case may be, has been delivered for recordation, or (ii) a delay in the receipt of certain information necessary to prepare the related assignments, the Company shall deliver or cause to be delivered to the Trustee or the respective Custodian a copy of such Mortgage, assignment, modification, assumption agreement or preferred loan agreement. The Company shall promptly cause to be recorded in the appropriate public office for real property records the Assignment referred to in clause (I)(iii) of Section 2.01(b), except (a) in states where, in the opinion of counsel acceptable to the Trustee and the Master Servicer, such recording is not required to protect the Trustee's interests in the Mortgage Loan against the claim of any subsequent transferee or any successor to or creditor of the Company or the originator of such Mortgage Loan or (b) if MERS is identified on the Mortgage or on a properly recorded assignment of the Mortgage as the mortgagee of record solely as nominee for the Seller and its successors and assigns, and shall promptly cause to be filed the Form UCC-3 assignment and UCC-1 financing statement referred to in clause (II)(vii) and (x), respectively, of Section 2.01(b). If any Assignment, Form UCC-3 or Form UCC-1, as applicable, is lost or returned unrecorded to the Company because of any defect therein, the Company shall prepare a substitute Assignment, Form UCC-3 or Form UCC-1, as applicable, or cure such defect, as the case may be, and cause such Assignment to be recorded in accordance with this paragraph. The Company shall promptly deliver or cause to be delivered to the Trustee or the respective Custodian such Mortgage or Assignment or Form UCC-3 or Form UCC-1, as applicable, (or copy thereof as permitted by Section 2.01(b)) with evidence of recording indicated thereon at the time specified in Section 2.01(c). In connection with its servicing of Cooperative Loans, the Master Servicer will use its best efforts to file timely continuation statements with regard to each financing statement and assignment relating to Cooperative Loans as to which the related Cooperative Apartment is located outside of the State of New York. If the Company delivers to the Trustee or Custodian any Mortgage Note or Assignment of Mortgage in blank, the Company shall, or shall cause the Custodian to, complete the endorsement of the Mortgage Note and the Assignment of Mortgage in the name of the Trustee in conjunction with the Interim Certification issued by the Custodian, as contemplated by Section 2.02. Any of the items set forth in Sections 2.01(b)(I)(ii), (iii), (iv) and (v) and (II)(vi) and (vii) and that may be delivered as a copy rather than the original may be delivered to the Trustee or the Custodian. In connection with the assignment of any Mortgage Loan registered on the MERS(R) System, the Company further agrees that it will cause, at the Company's own expense, within 30 Business Days after the Closing Date, the MERS(R)System to indicate that such Mortgage Loans have been assigned by the Company to the Trustee in accordance with this Agreement for the benefit of the Certificateholders by including (or deleting, in the case of Mortgage Loans which are repurchased in accordance with this Agreement) in such computer files (a) the code in the field which identifies the specific Trustee and (b) the code in the field "Pool Field" which identifies the series of the Certificates issued in connection with such Mortgage Loans. The Company further agrees that it will not, and will not permit the Master Servicer to, and the Master Servicer agrees that it will not, alter the codes referenced in this paragraph with respect to any Mortgage Loan during the term of this Agreement unless and until such Mortgage Loan is repurchased in accordance with the terms of this Agreement. (e) Residential Funding hereby assigns to the Trustee its security interest in and to any Additional Collateral or Pledged Assets, its right to receive amounts due or to become due in respect of any Additional Collateral or Pledged Assets pursuant to the related Subservicing Agreement and its rights as beneficiary under the Surety Bond in respect of any Additional Collateral Loans. With respect to any Additional Collateral Loan or Pledged Asset Loan, Residential Funding shall cause to be filed in the appropriate recording office a UCC-3 statement giving notice of the assignment of the related security interest to the Trust Fund and shall thereafter cause the timely filing of all necessary continuation statements with regard to such financing statements. (f) It is intended that the conveyance by the Company to the Trustee of the Mortgage Loans as provided for in this Section 2.01 be and the Uncertificated REMIC Regular Interests, if any (as provided for in Section 2.06), be construed as a sale by the Company to the Trustee of the Mortgage Loans and any Uncertificated REMIC Regular Interests for the benefit of the Certificateholders. Further, it is not intended that such conveyance be deemed to be a pledge of the Mortgage Loans and any Uncertificated REMIC Regular Interests by the Company to the Trustee to secure a debt or other obligation of the Company. Nonetheless, (a) this Agreement is intended to be and hereby is a security agreement within the meaning of Articles 8 and 9 of the New York Uniform Commercial Code and the Uniform Commercial Code of any other applicable jurisdiction; (b) the conveyance provided for in Section 2.01 shall be deemed to be, and hereby is, (1) a grant by the Company to the Trustee of a security interest in all of the Company's right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to any and all general intangibles, payment intangibles, accounts, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, letters of credit, advices of credit and investment property and other property of whatever kind or description now existing or hereafter acquired consisting of, arising from or relating to any of the following: (A) the Mortgage Loans, including (i) with respect to each Cooperative Loan, the related Mortgage Note, Security Agreement, Assignment of Proprietary Lease, Cooperative Stock Certificate and Cooperative Lease, (ii) with respect to each Mortgage Loan other than a Cooperative Loan, the related Mortgage Note and Mortgage, and (iii) any insurance policies and all other documents in the related Mortgage File, (B) all amounts payable pursuant to the Mortgage Loans in accordance with the terms thereof, (C) any Uncertificated REMIC Regular Interests and (D) all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, including without limitation all amounts from time to time held or invested in the Certificate Account or the Custodial Account, whether in the form of cash, instruments, securities or other property and (2) an assignment by the Company to the Trustee of any security interest in any and all of Residential Funding's right (including the power to convey title thereto), title and interest, whether now owned or hereafter acquired, in and to the property described in the foregoing clauses (1)(A), (B), (C) and (D) granted by Residential Funding to the Company pursuant to the Assignment Agreement; (c) the possession by the Trustee, the Custodian or any other agent of the Trustee of Mortgage Notes or such other items of property as constitute instruments, money, payment intangibles, negotiable documents, goods, deposit accounts, letters of credit, advices of credit, investment property, certificated securities or chattel paper shall be deemed to be "possession by the secured party," or possession by a purchaser or a person designated by such secured party, for purposes of perfecting the security interest pursuant to the Minnesota Uniform Commercial Code and the Uniform Commercial Code of any other applicable jurisdiction as in effect (including, without limitation, Sections 8-106, 9-313, 9-314 and 9-106 thereof); and (d) notifications to persons holding such property, and acknowledgments, receipts or confirmations from persons holding such property, shall be deemed notifications to, or acknowledgments, receipts or confirmations from, securities intermediaries, bailees or agents of, or persons holding for (as applicable) the Trustee for the purpose of perfecting such security interest under applicable law. The Company and, at the Company's direction, Residential Funding and the Trustee shall, to the extent consistent with this Agreement, take such reasonable actions as may be necessary to ensure that, if this Agreement were determined to create a security interest in the Mortgage Loans, any Uncertificated REMIC Regular Interests and the other property described above, such security interest would be determined to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of this Agreement. Without limiting the generality of the foregoing, the Company shall prepare and deliver to the Trustee not less than 15 days prior to any filing date and, the Trustee shall forward for filing, or shall cause to be forwarded for filing, at the expense of the Company, all filings necessary to maintain the effectiveness of any original filings necessary under the Uniform Commercial Code as in effect in any jurisdiction to perfect the Trustee's security interest in or lien on the Mortgage Loans and any Uncertificated REMIC Regular Interests, as evidenced by an Officers' Certificate of the Company, including without limitation (x) continuation statements, and (y) such other statements as may be occasioned by (1) any change of name of Residential Funding, the Company or the Trustee (such preparation and filing shall be at the expense of the Trustee, if occasioned by a change in the Trustee's name), (2) any change of type or jurisdiction of organization of Residential Funding or the Company, (3) any transfer of any interest of Residential Funding or the Company in any Mortgage Loan or (4) any transfer of any interest of Residential Funding or the Company in any Uncertificated REMIC Regular Interest. (g) The Master Servicer hereby acknowledges the receipt by it of the Initial Monthly Payment Fund. The Master Servicer shall hold such Initial Monthly Payment Fund in the Custodial Account and shall include such Initial Monthly Payment Fund in the Available Distribution Amount for the initial Distribution Date. Notwithstanding anything herein to the contrary, the Initial Monthly Payment Fund shall not be an asset of any REMIC. To the extent that the Initial Monthly Payment 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, (2) it shall be owned by the Seller and (3) amounts transferred by any REMIC to the Initial Monthly Payment Fund shall be treated as transferred to the Seller or any successor, all within the meaning of Section 1.860G-2(h) of the Treasury Regulations. (h) The Company agrees that the sale of each Pledged Asset Loan pursuant to this Agreement will also constitute the assignment, sale, setting-over, transfer and conveyance to the Trustee, without recourse (but subject to the Company's covenants, representations and warranties specifically provided herein), of all of the Company's obligations and all of the Company's right, title and interest in, to and under, whether now existing or hereafter acquired as owner of the Mortgage Loan with respect to any and all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts, and other investment property and other property of whatever kind or description consisting of, arising from or related to (i) the Assigned Contracts, (ii) all rights, powers and remedies of the Company as owner of such Mortgage Loan under or in connection with the Assigned Contracts, whether arising under the terms of such Assigned Contracts, by statute, at law or in equity, or otherwise arising out of any default by the Mortgagor under or in connection with the Assigned Contracts, including all rights to exercise any election or option or to make any decision or determination or to give or receive any notice, consent, approval or waiver thereunder, (iii) the Pledged Amounts and all money, securities, security entitlements, accounts, general intangibles, payment intangibles, instruments, documents, deposit accounts, certificates of deposit, commodities contracts, and other investment property and other property of whatever kind or description and all cash and non-cash proceeds of the sale, exchange, or redemption of, and all stock or conversion rights, rights to subscribe, liquidation dividends or preferences, stock dividends, rights to interest, dividends, earnings, income, rents, issues, profits, interest payments or other distributions of cash or other property that secures a Pledged Asset Loan, (iv) all documents, books and records concerning the foregoing (including all computer programs, tapes, disks and related items containing any such information) and (v) all insurance proceeds (including proceeds from the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation or any other insurance company) of any of the foregoing or replacements thereof or substitutions therefor, proceeds of proceeds and the conversion, voluntary or involuntary, of any thereof. The foregoing transfer, sale, assignment and conveyance does not constitute and is not intended to result in the creation, or an assumption by the Trustee, of any obligation of the Company, or any other person in connection with the Pledged Assets or under any agreement or instrument relating thereto, including any obligation to the Mortgagor, other than as owner of the Mortgage Loan. Section 2.02. Acceptance by Trustee. The Trustee acknowledges receipt (or, with respect to Mortgage Loans subject to a Custodial Agreement, and based solely upon a receipt or certification executed by the Custodian, receipt by the respective Custodian as the duly appointed agent of the Trustee) of the documents referred to in Section 2.01(b)(i) above (except that for purposes of such acknowledgement only, a Mortgage Note may be endorsed in blank) and declares that it, or a Custodian as its agent, holds and will hold such documents and the other documents constituting a part of the Mortgage Files delivered to it, or a Custodian as its agent, and the rights of Residential Funding with respect to any Pledged Assets, Additional Collateral and the Surety Bond assigned to the Trustee pursuant to Section 2.01, in trust for the use and benefit of all present and future Certificateholders. The Trustee or Custodian (such Custodian being so obligated under a Custodial Agreement) agrees, for the benefit of Certificateholders, to review each Mortgage File delivered to it pursuant to Section 2.01(b) within 45 days after the Closing Date to ascertain that all required documents (specifically as set forth in Section 2.01(b)), have been executed and received, and that such documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule, as supplemented, that have been conveyed to it, and to deliver to the Trustee a certificate (the "Interim Certification") to the effect that all documents required to be delivered pursuant to Section 2.01(b) above have been executed and received and that such documents relate to the Mortgage Loans identified on the Mortgage Loan Schedule, except for any exceptions listed on Schedule A attached to such Interim Certification. Upon delivery of the Mortgage Files by the Company or the Master Servicer, the Trustee shall acknowledge receipt (or, with respect to Mortgage Loans subject to a Custodial Agreement, and based solely upon a receipt or certification executed by the Custodian, receipt by the respective Custodian as the duly appointed agent of the Trustee) of the documents referred to in Section 2.01(c) above. If the Custodian, as the Trustee's agent, finds any document or documents constituting a part of a Mortgage File to be missing or defective, the Trustee shall promptly so notify the Master Servicer and the Company. Pursuant to Section 2.3 of the Custodial Agreement, the Custodian will notify the Master Servicer, the Company and the Trustee of any such omission or defect found by it in respect of any Mortgage File held by it in respect of the items reviewed by it pursuant to the Custodial Agreement. If such omission or defect materially and adversely affects the interests of the Certificateholders, the Master Servicer shall promptly notify Residential Funding of such omission or defect and request Residential Funding to correct or cure such omission or defect within 60 days from the date the Master Servicer was notified of such omission or defect and, if Residential Funding does not correct or cure such omission or defect within such period, require Residential Funding to purchase such Mortgage Loan from the Trust Fund at its Purchase Price, within 90 days from the date the Master Servicer was notified of such omission or defect; provided that if the omission or defect would cause the Mortgage Loan to be other than a "qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within 90 days from the date such breach was discovered. The Purchase Price for any such Mortgage Loan shall be deposited by the Master Servicer in the Custodial Account maintained by it pursuant to Section 3.07 and, upon receipt by the Trustee of written notification of such deposit signed by a Servicing Officer, the Trustee or any Custodian, as the case may be, shall release to Residential Funding the related Mortgage File and the Trustee shall execute and deliver such instruments of transfer or assignment prepared by the Master Servicer, in each case without recourse, as shall be necessary to vest in Residential Funding or its designee any Mortgage Loan released pursuant hereto and thereafter such Mortgage Loan shall not be part of the Trust Fund. It is understood and agreed that the obligation of Residential Funding to so cure or purchase any Mortgage Loan as to which a material and adverse defect in or omission of a constituent document exists shall constitute the sole remedy respecting such defect or omission available to Certificateholders or the Trustee on behalf of the Certificateholders. Section 2.03. Representations, Warranties and Covenants of the Master Servicer and the Company. (a) The Master Servicer hereby represents and warrants to the Trustee for the benefit of the Certificateholders that: (i) The Master Servicer is a corporation duly organized, validly existing and in good standing under the laws governing its creation and existence and is or will be in compliance with the laws of each state in which any Mortgaged Property is located to the extent necessary to ensure the enforceability of each Mortgage Loan in accordance with the terms of this Agreement; (ii) The execution and delivery of this Agreement by the Master Servicer and its performance and compliance with the terms of this Agreement will not violate the Master Servicer's Certificate of Incorporation or Bylaws or constitute a material default (or an event which, with notice or lapse of time, or both, would constitute a material default) under, or result in the material breach of, any material contract, agreement or other instrument to which the Master Servicer is a party or which may be applicable to the Master Servicer or any of its assets; (iii) This Agreement, assuming due authorization, execution and delivery by the Trustee and the Company, constitutes a valid, legal and binding obligation of the Master Servicer, enforceable against it in accordance with the terms hereof subject to applicable bankruptcy, insolvency, reorganization, moratorium and other laws affecting the enforcement of creditors' rights generally and to general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law; (iv) The Master Servicer is not in default with respect to any order or decree of any court or any order, regulation or demand of any federal, state, municipal or governmental agency, which default might have consequences that would materially and adversely affect the condition (financial or other) or operations of the Master Servicer or its properties or might have consequences that would materially adversely affect its performance hereunder; (v) No litigation is pending or, to the best of the Master Servicer's knowledge, threatened against the Master Servicer which would prohibit its entering into this Agreement or performing its obligations under this Agreement; (vi) The Master Servicer will comply in all material respects in the performance of this Agreement with all reasonable rules and requirements of each insurer under each Required Insurance Policy; (vii) No information, certificate of an officer, statement furnished in writing or report delivered to the Company, any Affiliate of the Company or the Trustee by the Master Servicer will, to the knowledge of the Master Servicer, contain any untrue statement of a material fact or omit a material fact necessary to make the information, certificate, statement or report not misleading; (viii) The Master Servicer has examined each existing, and will examine each new, Subservicing Agreement and is or will be familiar with the terms thereof. The terms of each existing Subservicing Agreement and each designated Subservicer are acceptable to the Master Servicer and any new Subservicing Agreements will comply with the provisions of Section 3.02; and (ix) The Master Servicer is a member of MERS in good standing, and will comply in all material respects with the rules and procedures of MERS in connection with the servicing of the Mortgage Loans that are registered with MERS. It is understood and agreed that the representations and warranties set forth in this Section 2.03(a) shall survive delivery of the respective Mortgage Files to the Trustee or any Custodian. Upon discovery by either the Company, the Master Servicer, the Trustee or any Custodian of a breach of any representation or warranty set forth in this Section 2.03(a) which materially and adversely affects the interests of the Certificateholders in any Mortgage Loan, the party discovering such breach shall give prompt written notice to the other parties (any Custodian being so obligated under a Custodial Agreement). Within 90 days of its discovery or its receipt of notice of such breach, the Master Servicer shall either (i) cure such breach in all material respects or (ii) to the extent that such breach is with respect to a Mortgage Loan or a related document, purchase such Mortgage Loan from the Trust Fund at the Purchase Price and in the manner set forth in Section 2.02; provided that if the omission or defect would cause the Mortgage Loan to be other than a "qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure or repurchase must occur within 90 days from the date such breach was discovered. The obligation of the Master Servicer to cure such breach or to so purchase such Mortgage Loan shall constitute the sole remedy in respect of a breach of a representation and warranty set forth in this Section 2.03(a) available to the Certificateholders or the Trustee on behalf of the Certificateholders. (b) Representations and warranties relating to the Mortgage Loans are set forth in Section 2.03(b) of the Series Supplement. Section 2.04. Representations and Warranties of Residential Funding. The Company, as assignee of Residential Funding under the Assignment Agreement, hereby assigns to the Trustee for the benefit of Certificateholders all of its right, title and interest in respect of the Assignment Agreement applicable to a Mortgage Loan. Insofar as the Assignment Agreement relates to the representations and warranties made by Residential Funding in respect of such Mortgage Loan and any remedies provided thereunder for any breach of such representations and warranties, such right, title and interest may be enforced by the Master Servicer on behalf of the Trustee and the Certificateholders. Upon the discovery by the Company, the Master Servicer, the Trustee or any Custodian of a breach of any of the representations and warranties made in the Assignment Agreement (which, for purposes hereof, will be deemed to include any other cause giving rise to a repurchase obligation under the Assignment Agreement) in respect of any Mortgage Loan which materially and adversely affects the interests of the Certificateholders in such Mortgage Loan, the party discovering such breach shall give prompt written notice to the other parties (any Custodian being so obligated under a Custodial Agreement). The Master Servicer shall promptly notify Residential Funding of such breach and request that Residential Funding either (i) cure such breach in all material respects within 90 days from the date the Master Servicer was notified of such breach or (ii) purchase such Mortgage Loan from the Trust Fund at the Purchase Price and in the manner set forth in Section 2.02; provided that Residential Funding shall have the option to substitute a Qualified Substitute Mortgage Loan or Loans for such Mortgage Loan if such substitution occurs within two years following the Closing Date; provided that if the breach would cause the Mortgage Loan to be other than a "qualified mortgage" as defined in Section 860G(a)(3) of the Code, any such cure, repurchase or substitution must occur within 90 days from the date the breach was discovered. If a breach of the Compliance With Laws Representation has given rise to the obligation to repurchase or substitute a Mortgage Loan pursuant to Section 4 of the Assignment Agreement, then the Master Servicer shall request that Residential Funding pay to the Trust Fund, concurrently with and in addition to the remedies provided in the preceding sentence, an amount equal to any liability, penalty or expense that was actually incurred and paid out of or on behalf of the Trust Fund, and that directly resulted from such breach, or if incurred and paid by the Trust Fund thereafter, concurrently with such payment. In the event that Residential Funding elects to substitute a Qualified Substitute Mortgage Loan or Loans for a Deleted Mortgage Loan pursuant to this Section 2.04, Residential Funding shall deliver to the Trustee or the Custodian for the benefit of the Certificateholders with respect to such Qualified Substitute Mortgage Loan or Loans, the original Mortgage Note, the Mortgage, an Assignment of the Mortgage in recordable form, if required pursuant to Section 2.01, and such other documents and agreements as are required by Section 2.01, with the Mortgage Note endorsed as required by Section 2.01. No substitution will be made in any calendar month after the Determination Date for such month. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall not be part of the Trust Fund and will be retained by the Master Servicer and remitted by the Master Servicer to Residential Funding on the next succeeding Distribution Date. For the month of substitution, distributions to the Certificateholders will include the Monthly Payment due on a Deleted Mortgage Loan for such month and thereafter Residential Funding shall be entitled to retain all amounts received in respect of such Deleted Mortgage Loan. The Master Servicer shall amend or cause to be amended the Mortgage Loan Schedule, and, if the Deleted Mortgage Loan was a Discount Mortgage Loan, the Schedule of Discount Fractions, for the benefit of the Certificateholders to reflect the removal of such Deleted Mortgage Loan and the substitution of the Qualified Substitute Mortgage Loan or Loans and the Master Servicer shall deliver the amended Mortgage Loan Schedule, and, if the Deleted Mortgage Loan was a Discount Mortgage Loan, the amended Schedule of Discount Fractions, to the Trustee. Upon such substitution, the Qualified Substitute Mortgage Loan or Loans shall be subject to the terms of this Agreement and the related Subservicing Agreement in all respects, Residential Funding shall be deemed to have made the representations and warranties with respect to the Qualified Substitute Mortgage Loan contained in the related Assignment Agreement, and the Company and the Master Servicer shall be deemed to have made with respect to any Qualified Substitute Mortgage Loan or Loans, as of the date of substitution, the covenants, representations and warranties set forth in this Section 2.04, in Section 2.03 hereof and in Section 4 of the Assignment Agreement, and the Master Servicer shall be obligated to repurchase or substitute for any Qualified Substitute Mortgage Loan as to which a Repurchase Event (as defined in the Assignment Agreement) has occurred pursuant to Section 4 of the Assignment Agreement. In connection with the substitution of one or more Qualified Substitute Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer will determine the amount (if any) by which the aggregate principal balance of all such Qualified Substitute Mortgage Loans as of the date of substitution is less than the aggregate Stated Principal Balance of all such Deleted Mortgage Loans (in each case after application of the principal portion of the Monthly Payments due in the month of substitution that are to be distributed to the Certificateholders in the month of substitution). Residential Funding shall deposit the amount of such shortfall into the Custodial Account on the day of substitution, without any reimbursement therefor. Residential Funding shall give notice in writing to the Trustee of such event, which notice shall be accompanied by an Officers' Certificate as to the calculation of such shortfall and (subject to Section 10.01(f)) by an Opinion of Counsel to the effect that such substitution will not cause (a) any federal tax to be imposed on the Trust Fund, including without limitation, any federal tax imposed on "prohibited transactions" under Section 860F(a)(1) of the Code or on "contributions after the startup date" under Section 860G(d)(1) of the Code or (b) any portion of any REMIC to fail to qualify as such at any time that any Certificate is outstanding. It is understood and agreed that the obligation of Residential Funding to cure such breach or purchase, or to substitute for, a Mortgage Loan as to which such a breach has occurred and is continuing and to make any additional payments required under the Assignment Agreement in connection with a breach of the Compliance With Laws Representation shall constitute the sole remedy respecting such breach available to the Certificateholders or the Trustee on behalf of Certificateholders. If the Master Servicer is Residential Funding, then the Trustee shall also have the right to give the notification and require the purchase or substitution provided for in the second preceding paragraph in the event of such a breach of a representation or warranty made by Residential Funding in the Assignment Agreement. In connection with the purchase of or substitution for any such Mortgage Loan by Residential Funding, the Trustee shall assign to Residential Funding all of the Trustee's right, title and interest in respect of the Assignment Agreement applicable to such Mortgage Loan. Section 2.05. Execution and Authentication of Certificates/Issuance of Certificates Evidencing Interests in REMIC I Certificates. As provided in Section 2.05 of the Series Supplement. Section 2.06. Conveyance of Uncertificated REMIC I and REMIC II Regular Interests; Acceptance by the Trustee. As provided in Section 2.06 of the Series Supplement. Section 2.07. Issuance of Certificates Evidencing Interests in REMIC II. As provided in Section 2.07 of the Series Supplement. Section 2.08. Purposes and Powers of the Trust. The purpose of the trust, as created hereunder, is to engage in the following activities: (a) to sell the Certificates to the Company in exchange for the Mortgage Loans; (b) to enter into and perform its obligations under this Agreement; (c) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and (d) subject to compliance with this Agreement, to engage in such other activities as may be required in connection with conservation of the Trust Fund and the making of distributions to the Certificateholders. The trust is hereby authorized to engage in the foregoing activities. Notwithstanding the provisions of Section 11.01, the trust shall not engage in any activity other than in connection with the foregoing or other than as required or authorized by the terms of this Agreement while any Certificate is outstanding, and this Section 2.08 may not be amended, without the consent of the Certificateholders evidencing a majority of the aggregate Voting Rights of the Certificates.
ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS Section 3.01. Master Servicer to Act as Servicer. (a) The Master Servicer shall service and administer the Mortgage Loans in accordance with the terms of this Agreement and the respective Mortgage Loans and shall have full power and authority, acting alone or through Subservicers as provided in Section 3.02, to do any and all things which it may deem necessary or desirable in connection with such servicing and administration. Without limiting the generality of the foregoing, the Master Servicer in its own name or in the name of a Subservicer is hereby authorized and empowered by the Trustee when the Master Servicer or the Subservicer, as the case may be, believes it appropriate in its best judgment, to execute and deliver, on behalf of the Certificateholders and the Trustee or any of them, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, or of consent to assumption or modification in connection with a proposed conveyance, or of assignment of any Mortgage and Mortgage Note in connection with the repurchase of a Mortgage Loan and all other comparable instruments, or with respect to the modification or re-recording of a Mortgage for the purpose of correcting the Mortgage, the subordination of the lien of the Mortgage in favor of a public utility company or government agency or unit with powers of eminent domain, the taking of a deed in lieu of foreclosure, the commencement, prosecution or completion of judicial or non-judicial foreclosure, the conveyance of a Mortgaged Property to the related Insurer, the acquisition of any property acquired by foreclosure or deed in lieu of foreclosure, or the management, marketing and conveyance of any property acquired by foreclosure or deed in lieu of foreclosure with respect to the Mortgage Loans and with respect to the Mortgaged Properties. The Master Servicer further is authorized and empowered by the Trustee, on behalf of the Certificateholders and the Trustee, in its own name or in the name of the Subservicer, when the Master Servicer or the Subservicer, as the case may be, believes it appropriate in its best judgment to register any Mortgage Loan on the MERS(R) System, or cause the removal from the registration of any Mortgage Loan on the MERS(R)System, to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of assignment and other comparable instruments with respect to such assignment or re-recording of a Mortgage in the name of MERS, solely as nominee for the Trustee and its successors and assigns. Any expenses incurred in connection with the actions described in the preceding sentence shall be borne by the Master Servicer in accordance with Section 3.16(c), with no right of reimbursement; provided, that if, as a result of MERS discontinuing or becoming unable to continue operations in connection with the MERS System, it becomes necessary to remove any Mortgage Loan from registration on the MERS System and to arrange for the assignment of the related Mortgages to the Trustee, then any related expenses shall be reimbursable to the Master Servicer. Notwithstanding the foregoing, subject to Section 3.07(a), the Master Servicer shall not permit any modification with respect to any Mortgage Loan that would both constitute a sale or exchange of such Mortgage Loan within the meaning of Section 1001 of the Code and any proposed, temporary or final regulations promulgated thereunder (other than in connection with a proposed conveyance or assumption of such Mortgage Loan that is treated as a Principal Prepayment in Full pursuant to Section 3.13(d) hereof) and cause any REMIC formed under the Series Supplement to fail to qualify as a REMIC under the Code. The Trustee shall furnish the Master Servicer with any powers of attorney and other documents necessary or appropriate to enable the Master Servicer to service and administer the Mortgage Loans. The Trustee shall not be liable for any action taken by the Master Servicer or any Subservicer pursuant to such powers of attorney. In servicing and administering any Nonsubserviced Mortgage Loan, the Master Servicer shall, to the extent not inconsistent with this Agreement, comply with the Program Guide as if it were the originator of such Mortgage Loan and had retained the servicing rights and obligations in respect thereof. In connection with servicing and administering the Mortgage Loans, the Master Servicer and any Affiliate of the Master Servicer (i) may perform services such as appraisals and brokerage services that are not customarily provided by servicers of mortgage loans, and shall be entitled to reasonable compensation therefor in accordance with Section 3.10 and (ii) may, at its own discretion and on behalf of the Trustee, obtain credit information in the form of a "credit score" from a credit repository. (b) All costs incurred by the Master Servicer or by Subservicers in effecting the timely payment of taxes and assessments on the properties subject to the Mortgage Loans shall not, for the purpose of calculating monthly distributions to the Certificateholders, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loan so permit, and such costs shall be recoverable to the extent permitted by Section 3.10(a)(ii). (c) The Master Servicer may enter into one or more agreements in connection with the offering of pass-through certificates evidencing interests in one or more of the Certificates providing for the payment by the Master Servicer of amounts received by the Master Servicer as servicing compensation hereunder and required to cover certain Prepayment Interest Shortfalls on the Mortgage Loans, which payment obligation will thereafter be an obligation of the Master Servicer hereunder. Section 3.02. Subservicing Agreements Between Master Servicer and Subservicers; Enforcement of Subservicers' and Sellers' Obligations. (a) The Master Servicer may continue in effect Subservicing Agreements entered into by Residential Funding and Subservicers prior to the execution and delivery of this Agreement, and may enter into new Subservicing Agreements with Subservicers, for the servicing and administration of all or some of the Mortgage Loans. Each Subservicer of a Mortgage Loan shall be entitled to receive and retain, as provided in the related Subservicing Agreement and in Section 3.07, the related Subservicing Fee from payments of interest received on such Mortgage Loan after payment of all amounts required to be remitted to the Master Servicer in respect of such Mortgage Loan. For any Mortgage Loan that is a Nonsubserviced Mortgage Loan, the Master Servicer shall be entitled to receive and retain an amount equal to the Subservicing Fee from payments of interest. Unless the context otherwise requires, references in this Agreement to actions taken or to be taken by the Master Servicer in servicing the Mortgage Loans include actions taken or to be taken by a Subservicer on behalf of the Master Servicer. Each Subservicing Agreement will be upon such terms and conditions as are generally required or permitted by the Program Guide and are not inconsistent with this Agreement and as the Master Servicer and the Subservicer have agreed. A representative form of Subservicing Agreement is attached hereto as Exhibit E. With the approval of the Master Servicer, a Subservicer may delegate its servicing obligations to third-party servicers, but such Subservicer will remain obligated under the related Subservicing Agreement. The Master Servicer and a Subservicer may enter into amendments thereto or a different form of Subservicing Agreement, and the form referred to or included in the Program Guide is merely provided for information and shall not be deemed to limit in any respect the discretion of the Master Servicer to modify or enter into different Subservicing Agreements; provided, however, that any such amendments or different forms shall be consistent with and not violate the provisions of either this Agreement or the Program Guide in a manner which would materially and adversely affect the interests of the Certificateholders. The Program Guide and any other Subservicing Agreement entered into between the Master Servicer and any Subservicer shall require the Subservicer to accurately and fully report its borrower credit files to each of the Credit Repositories in a timely manner. (b) As part of its servicing activities hereunder, the Master Servicer, for the benefit of the Trustee and the Certificateholders, shall use its best reasonable efforts to enforce the obligations of each Subservicer under the related Subservicing Agreement and of each Seller under the related Seller's Agreement insofar as the Company's rights with respect to Seller's obligation has been assigned to the Trustee hereunder, to the extent that the non-performance of any such Seller's obligation would have a material and adverse effect on a Mortgage Loan, including, without limitation, the obligation to purchase a Mortgage Loan on account of defective documentation, as described in Section 2.02, or on account of a breach of a representation or warranty, as described in Section 2.04. Such enforcement, including, without limitation, the legal prosecution of claims, termination of Subservicing Agreements or Seller's Agreements, as appropriate, and the pursuit of other appropriate remedies, shall be in such form and carried out to such an extent and at such time as the Master Servicer would employ in its good faith business judgment and which are normal and usual in its general mortgage servicing activities. The Master Servicer shall pay the costs of such enforcement at its own expense, and shall be reimbursed therefor only (i) from a general recovery resulting from such enforcement to the extent, if any, that such recovery exceeds all amounts due in respect of the related Mortgage Loan or (ii) from a specific recovery of costs, expenses or attorneys fees against the party against whom such enforcement is directed. For purposes of clarification only, the parties agree that the foregoing is not intended to, and does not, limit the ability of the Master Servicer to be reimbursed for expenses that are incurred in connection with the enforcement of a Seller's obligations (insofar as the Company's rights with respect to such Seller's obligations have been assigned to the Trustee hereunder) and are reimbursable pursuant to Section 3.10(a)(viii). Section 3.03. Successor Subservicers. The Master Servicer shall be entitled to terminate any Subservicing Agreement that may exist in accordance with the terms and conditions of such Subservicing Agreement and without any limitation by virtue of this Agreement; provided, however, that in the event of termination of any Subservicing Agreement by the Master Servicer or the Subservicer, the Master Servicer shall either act as servicer of the related Mortgage Loan or enter into a Subservicing Agreement with a successor Subservicer which will be bound by the terms of the related Subservicing Agreement. If the Master Servicer or any Affiliate of Residential Funding acts as servicer, it will not assume liability for the representations and warranties of the Subservicer which it replaces. If the Master Servicer enters into a Subservicing Agreement with a successor Subservicer, the Master Servicer shall use reasonable efforts to have the successor Subservicer assume liability for the representations and warranties made by the terminated Subservicer in respect of the related Mortgage Loans and, in the event of any such assumption by the successor Subservicer, the Master Servicer may, in the exercise of its business judgment, release the terminated Subservicer from liability for such representations and warranties. Section 3.04. Liability of the Master Servicer. Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Master Servicer or a Subservicer or reference to actions taken through a Subservicer or otherwise, the Master Servicer shall remain obligated and liable to the Trustee and the Certificateholders for the servicing and administering of the Mortgage Loans in accordance with the provisions of Section 3.01 without diminution of such obligation or liability by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification from the Subservicer or the Company and to the same extent and under the same terms and conditions as if the Master Servicer alone were servicing and administering the Mortgage Loans. The Master Servicer shall be entitled to enter into any agreement with a Subservicer or Seller for indemnification of the Master Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. Section 3.05. No Contractual Relationship Between Subservicer and Trustee or Certificateholders. Any Subservicing Agreement that may be entered into and any other transactions or services relating to the Mortgage Loans involving a Subservicer in its capacity as such and not as an originator shall be deemed to be between the Subservicer and the Master Servicer alone and the Trustee and the Certificateholders shall not be deemed parties thereto and shall have no claims, rights, obligations, duties or liabilities with respect to the Subservicer in its capacity as such except as set forth in Section 3.06. The foregoing provision shall not in any way limit a Subservicer's obligation to cure an omission or defect or to repurchase a Mortgage Loan as referred to in Section 2.02 hereof. Section 3.06. Assumption or Termination of Subservicing Agreements by Trustee. (a) If the Master Servicer shall for any reason no longer be the master servicer (including by reason of an Event of Default), the Trustee, its designee or its successor shall thereupon assume all of the rights and obligations of the Master Servicer under each Subservicing Agreement that may have been entered into. The Trustee, its designee or the successor servicer for the Trustee shall be deemed to have assumed all of the Master Servicer's interest therein and to have replaced the Master Servicer as a party to the Subservicing Agreement to the same extent as if the Subservicing Agreement had been assigned to the assuming party except that the Master Servicer shall not thereby be relieved of any liability or obligations under the Subservicing Agreement. (b) The Master Servicer shall, upon request of the Trustee but at the expense of the Master Servicer, deliver to the assuming party all documents and records relating to each Subservicing Agreement and the Mortgage Loans then being serviced and an accounting of amounts collected and held by it and otherwise use its best efforts to effect the orderly and efficient transfer of each Subservicing Agreement to the assuming party. Section 3.07. Collection of Certain Mortgage Loan Payments; Deposits to Custodial Account. (a) The Master Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Primary Insurance Policy, follow such collection procedures as it would employ in its good faith business judgment and which are normal and usual in its general mortgage servicing activities. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the Due Date for payments due on a Mortgage Loan in accordance with the Program Guide; provided, however, that the Master Servicer shall first determine that any such waiver or extension will not impair the coverage of any related Primary Insurance Policy or materially adversely affect the lien of the related Mortgage. Notwithstanding anything in this Section to the contrary, the Master Servicer shall not enforce any prepayment charge to the extent that such enforcement would violate any applicable law. In the event of any such arrangement, the Master Servicer shall make timely advances on the related Mortgage Loan during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements unless otherwise agreed to by the Holders of the Classes of Certificates affected thereby; provided, however, that no such extension shall be made if any such advance would be a Nonrecoverable Advance. Consistent with the terms of this Agreement, the Master Servicer may also waive, modify or vary any term of any Mortgage Loan or consent to the postponement of strict compliance with any such term or in any manner grant indulgence to any Mortgagor if in the Master Servicer's determination such waiver, modification, postponement or indulgence is not materially adverse to the interests of the Certificateholders (taking into account any estimated Realized Loss that might result absent such action); provided, however, that the Master Servicer may not modify materially or permit any Subservicer to modify any Mortgage Loan, including without limitation any modification that would change the Mortgage Rate, forgive the payment of any principal or interest (unless in connection with the liquidation of the related Mortgage Loan or except in connection with prepayments to the extent that such reamortization is not inconsistent with the terms of the Mortgage Loan), capitalize any amounts owing on the Mortgage Loan by adding such amount to the outstanding principal balance of the Mortgage Loan, or extend the final maturity date of such Mortgage Loan, unless such Mortgage Loan is in default or, in the judgment of the Master Servicer, such default is reasonably foreseeable; provided, further, that (1) no such modification shall reduce the interest rate on a Mortgage Loan below one-half of the Mortgage Rate as in effect on the Cut-off Date, but not less than the sum of the rates at which the Servicing Fee and the Subservicing Fee with respect to such Mortgage Loan accrues plus the rate at which the premium paid to the Certificate Insurer, if any, accrues, (2) the final maturity date for any Mortgage Loan shall not be extended beyond the Maturity Date, (3) the Stated Principal Balance of all Reportable Modified Mortgage Loans subject to Servicing Modifications (measured at the time of the Servicing Modification and after giving effect to any Servicing Modification) can be no more than five percent of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date, unless such limit is increased from time to time with the consent of the Rating Agencies and the Certificate Insurer, if any. In addition, any amounts owing on a Mortgage Loan added to the outstanding principal balance of such Mortgage Loan must be fully amortized over the remaining term of such Mortgage Loan, and such amounts may be added to the outstanding principal balance of a Mortgage Loan only once during the life of such Mortgage Loan. Also, the addition of such amounts described in the preceding sentence shall be implemented in accordance with the Program Guide and may be implemented only by Subservicers that have been approved by the Master Servicer for such purpose. In connection with any Curtailment of a Mortgage Loan, the Master Servicer, to the extent not inconsistent with the terms of the Mortgage Note and local law and practice, may permit the Mortgage Loan to be reamortized such that the Monthly Payment is recalculated as an amount that will fully amortize the remaining Stated Principal Balance thereof by the original Maturity Date based on the original Mortgage Rate; provided, that such re-amortization shall not be permitted if it would constitute a reissuance of the Mortgage Loan for federal income tax purposes, except if such reissuance is described in Treasury Regulation Section 1.860G-2(b)(3). (b) The Master Servicer shall establish and maintain a Custodial Account in which the Master Servicer shall deposit or cause to be deposited on a daily basis, except as otherwise specifically provided herein, the following payments and collections remitted by Subservicers or received by it in respect of the Mortgage Loans subsequent to the Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date): (i) All payments on account of principal, including Principal Prepayments made by Mortgagors on the Mortgage Loans and the principal component of any Subservicer Advance or of any REO Proceeds received in connection with an REO Property for which an REO Disposition has occurred; (ii) All payments on account of interest at the Adjusted Mortgage Rate on the Mortgage Loans, including Buydown Funds, if any, and the interest component of any Subservicer Advance or of any REO Proceeds received in connection with an REO Property for which an REO Disposition has occurred; (iii) Insurance Proceeds, Subsequent Recoveries and Liquidation Proceeds (net of any related expenses of the Subservicer); (iv) All proceeds of any Mortgage Loans purchased pursuant to Section 2.02, 2.03, 2.04 or 4.07 (including amounts received from Residential Funding pursuant to the last paragraph of Section 4 of the Assignment Agreement in respect of any liability, penalty or expense that resulted from a breach of the Compliance With Laws Representation and all amounts required to be deposited in connection with the substitution of a Qualified Substitute Mortgage Loan pursuant to Section 2.03 or 2.04; (v) Any amounts required to be deposited pursuant to Section 3.07(c) or 3.21; (vi) All amounts transferred from the Certificate Account to the Custodial Account in accordance with Section 4.02(a); (vii) Any amounts realized by the Subservicer and received by the Master Servicer in respect of any Additional Collateral; and (viii) Any amounts received by the Master Servicer in respect of Pledged Assets. The foregoing requirements for deposit in the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments on the Mortgage Loans which are not part of the Trust Fund (consisting of payments in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date) and payments or collections in the nature of prepayment charges or late payment charges or assumption fees may but need not be deposited by the Master Servicer in the Custodial Account. In the event any amount not required to be deposited in the Custodial Account is so deposited, the Master Servicer may at any time withdraw such amount from the Custodial Account, any provision herein to the contrary notwithstanding. The Custodial Account may contain funds that belong to one or more trust funds created for mortgage pass-through certificates of other series and may contain other funds respecting payments on mortgage loans belonging to the Master Servicer or serviced or master serviced by it on behalf of others. Notwithstanding such commingling of funds, the Master Servicer shall keep records that accurately reflect the funds on deposit in the Custodial Account that have been identified by it as being attributable to the Mortgage Loans. With respect to Insurance Proceeds, Liquidation Proceeds, REO Proceeds and the proceeds of the purchase of any Mortgage Loan pursuant to Sections 2.02, 2.03, 2.04 and 4.07 received in any calendar month, the Master Servicer may elect to treat such amounts as included in the Available Distribution Amount for the Distribution Date in the month of receipt, but is not obligated to do so. If the Master Servicer so elects, such amounts will be deemed to have been received (and any related Realized Loss shall be deemed to have occurred) on the last day of the month prior to the receipt thereof. (c) The Master Servicer shall use its best efforts to cause the institution maintaining the Custodial Account to invest the funds in the Custodial Account attributable to the Mortgage Loans in Permitted Investments which shall mature not later than the Certificate Account Deposit Date next following the date of such investment (with the exception of the Amount Held for Future Distribution) and which shall not be sold or disposed of prior to their maturities. All income and gain realized from any such investment shall be for the benefit of the Master Servicer as additional servicing compensation and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments attributable to the investment of amounts in respect of the Mortgage Loans shall be deposited in the Custodial Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. (d) The Master Servicer shall give notice to the Trustee and the Company of any change in the location of the Custodial Account and the location of the Certificate Account prior to the use thereof. Section 3.08. Subservicing Accounts; Servicing Accounts. (a) In those cases where a Subservicer is servicing a Mortgage Loan pursuant to a Subservicing Agreement, the Master Servicer shall cause the Subservicer, pursuant to the Subservicing Agreement, to establish and maintain one or more Subservicing Accounts which shall be an Eligible Account or, if such account is not an Eligible Account, shall generally satisfy the requirements of the Program Guide and be otherwise acceptable to the Master Servicer and each Rating Agency. The Subservicer will be required thereby to deposit into the Subservicing Account on a daily basis all proceeds of Mortgage Loans received by the Subservicer, less its Subservicing Fees and unreimbursed advances and expenses, to the extent permitted by the Subservicing Agreement. If the Subservicing Account is not an Eligible Account, the Master Servicer shall be deemed to have received such monies upon receipt thereof by the Subservicer. The Subservicer shall not be required to deposit in the Subservicing Account payments or collections in the nature of prepayment charges or late charges or assumption fees. On or before the date specified in the Program Guide, but in no event later than the Determination Date, the Master Servicer shall cause the Subservicer, pursuant to the Subservicing Agreement, to remit to the Master Servicer for deposit in the Custodial Account all funds held in the Subservicing Account with respect to each Mortgage Loan serviced by such Subservicer that are required to be remitted to the Master Servicer. The Subservicer will also be required, pursuant to the Subservicing Agreement, to advance on such scheduled date of remittance amounts equal to any scheduled monthly installments of principal and interest less its Subservicing Fees on any Mortgage Loans for which payment was not received by the Subservicer. This obligation to advance with respect to each Mortgage Loan will continue up to and including the first of the month following the date on which the related Mortgaged Property is sold at a foreclosure sale or is acquired by the Trust Fund by deed in lieu of foreclosure or otherwise. All such advances received by the Master Servicer shall be deposited promptly by it in the Custodial Account. (b) The Subservicer may also be required, pursuant to the Subservicing Agreement, to remit to the Master Servicer for deposit in the Custodial Account interest at the Adjusted Mortgage Rate (or Modified Net Mortgage Rate plus the rate per annum at which the Servicing Fee accrues in the case of a Modified Mortgage Loan) on any Curtailment received by such Subservicer in respect of a Mortgage Loan from the related Mortgagor during any month that is to be applied by the Subservicer to reduce the unpaid principal balance of the related Mortgage Loan as of the first day of such month, from the date of application of such Curtailment to the first day of the following month. Any amounts paid by a Subservicer pursuant to the preceding sentence shall be for the benefit of the Master Servicer as additional servicing compensation and shall be subject to its withdrawal or order from time to time pursuant to Sections 3.10(a)(iv) and (v). (c) In addition to the Custodial Account and the Certificate Account, the Master Servicer shall for any Nonsubserviced Mortgage Loan, and shall cause the Subservicers for Subserviced Mortgage Loans to, establish and maintain one or more Servicing Accounts and deposit and retain therein all collections from the Mortgagors (or advances from Subservicers) for the payment of taxes, assessments, hazard insurance premiums, Primary Insurance Policy premiums, if applicable, or comparable items for the account of the Mortgagors. Each Servicing Account shall satisfy the requirements for a Subservicing Account and, to the extent permitted by the Program Guide or as is otherwise acceptable to the Master Servicer, may also function as a Subservicing Account. Withdrawals of amounts related to the Mortgage Loans from the Servicing Accounts may be made only to effect timely payment of taxes, assessments, hazard insurance premiums, Primary Insurance Policy premiums, if applicable, or comparable items, to reimburse the Master Servicer or Subservicer out of related collections for any payments made pursuant to Sections 3.11 (with respect to the Primary Insurance Policy) and 3.12(a) (with respect to hazard insurance), to refund to any Mortgagors any sums as may be determined to be overages, to pay interest, if required, to Mortgagors on balances in the Servicing Account or to clear and terminate the Servicing Account at the termination of this Agreement in accordance with Section 9.01 or in accordance with the Program Guide. As part of its servicing duties, the Master Servicer shall, and the Subservicers will, pursuant to the Subservicing Agreements, be required to pay to the Mortgagors interest on funds in this account to the extent required by law. (d) The Master Servicer shall advance the payments referred to in the preceding subsection that are not timely paid by the Mortgagors or advanced by the Subservicers on the date when the tax, premium or other cost for which such payment is intended is due, but the Master Servicer shall be required so to advance only to the extent that such advances, in the good faith judgment of the Master Servicer, will be recoverable by the Master Servicer out of Insurance Proceeds, Liquidation Proceeds or otherwise. Section 3.09. Access to Certain Documentation and Information Regarding the Mortgage Loans. If compliance with this Section 3.09 shall make any Class of Certificates legal for investment by federally insured savings and loan associations, the Master Servicer shall provide, or cause the Subservicers to provide, to the Trustee, the Office of Thrift Supervision or the FDIC and the supervisory agents and examiners thereof access to the documentation regarding the Mortgage Loans required by applicable regulations of the Office of Thrift Supervision, such access being afforded without charge but only upon reasonable request and during normal business hours at the offices designated by the Master Servicer. The Master Servicer shall permit such representatives to photocopy any such documentation and shall provide equipment for that purpose at a charge reasonably approximating the cost of such photocopying to the Master Servicer. Section 3.10. Permitted Withdrawals from the Custodial Account. (a) The Master Servicer may, from time to time as provided herein, make withdrawals from the Custodial Account of amounts on deposit therein pursuant to Section 3.07 that are attributable to the Mortgage Loans for the following purposes: (i) to make deposits into the Certificate Account in the amounts and in the manner provided for in Section 4.01; (ii) to reimburse itself or the related Subservicer for previously unreimbursed Advances, Servicing Advances or other expenses made pursuant to Sections 3.01, 3.07(a), 3.08, 3.11, 3.12(a), 3.14 and 4.04 or otherwise reimbursable pursuant to the terms of this Agreement, such withdrawal right being limited to amounts received on the related Mortgage Loans (including, for this purpose, REO Proceeds, Insurance Proceeds, Liquidation Proceeds and proceeds from the purchase of a Mortgage Loan pursuant to Section 2.02, 2.03, 2.04 or 4.07) which represent (A) Late Collections of Monthly Payments for which any such advance was made in the case of Subservicer Advances or Advances pursuant to Section 4.04 and (B) recoveries of amounts in respect of which such advances were made in the case of Servicing Advances; (iii) to pay to itself or the related Subservicer (if not previously retained by such Subservicer) out of each payment received by the Master Servicer on account of interest on a Mortgage Loan as contemplated by Sections 3.14 and 3.16, an amount equal to that remaining portion of any such payment as to interest (but not in excess of the Servicing Fee and the Subservicing Fee, if not previously retained) which, when deducted, will result in the remaining amount of such interest being interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount specified in the amortization schedule of the related Mortgage Loan as the principal balance thereof at the beginning of the period respecting which such interest was paid after giving effect to any previous Curtailments; (iv) to pay to itself as additional servicing compensation any interest or investment income earned on funds and other property deposited in or credited to the Custodial Account that it is entitled to withdraw pursuant to Section 3.07(c); (v) to pay to itself as additional servicing compensation any Foreclosure Profits, any amounts remitted by Subservicers as interest in respect of Curtailments pursuant to Section 3.08(b), and any amounts paid by a Mortgagor in connection with a Principal Prepayment in Full in respect of interest for any period during the calendar month in which such Principal Prepayment in Full is to be distributed to the Certificateholders; (vi) to pay to itself, a Subservicer, a Seller, Residential Funding, the Company or any other appropriate Person, as the case may be, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased or otherwise transferred pursuant to Section 2.02, 2.03, 2.04, 4.07 or 9.01, all amounts received thereon and not required to be distributed to the Certificateholders as of the date on which the related Stated Principal Balance or Purchase Price is determined; (vii) to reimburse itself or the related Subservicer for any Nonrecoverable Advance or Advances in the manner and to the extent provided in subsection (c) below, and any Advance or Servicing Advance made in connection with a modified Mortgage Loan that is in default or, in the judgment of the Master Servicer, default is reasonably foreseeable pursuant to Section 3.07(a), to the extent the amount of the Advance or Servicing Advance was added to the Stated Principal Balance of the Mortgage Loan in a prior calendar month, or any Advance reimbursable to the Master Servicer pursuant to Section 4.02(a); (viii) to reimburse itself or the Company for expenses incurred by and reimbursable to it or the Company pursuant to Sections 3.01(a), 3.11, 3.13, 3.14(c), 6.03, 10.01 or otherwise, or in connection with enforcing, in accordance with this Agreement, any repurchase, substitution or indemnification obligation of any Seller (other than an Affiliate of the Company) pursuant to the related Seller's Agreement; (ix) to reimburse itself for Servicing Advances expended by it (a) pursuant to Section 3.14 in good faith in connection with the restoration of property damaged by an Uninsured Cause, and (b) in connection with the liquidation of a Mortgage Loan or disposition of an REO Property to the extent not otherwise reimbursed pursuant to clause (ii) or (viii) above; and (x) to withdraw any amount deposited in the Custodial Account that was not required to be deposited therein pursuant to Section 3.07. (b) Since, in connection with withdrawals pursuant to clauses (ii), (iii), (v) and (vi), the Master Servicer's entitlement thereto is limited to collections or other recoveries on the related Mortgage Loan, the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such clauses. (c) The Master Servicer shall be entitled to reimburse itself or the related Subservicer for any advance made in respect of a Mortgage Loan that the Master Servicer determines to be a Nonrecoverable Advance by withdrawal from the Custodial Account of amounts on deposit therein attributable to the Mortgage Loans on any Certificate Account Deposit Date succeeding the date of such determination. Such right of reimbursement in respect of a Nonrecoverable Advance relating to an Advance pursuant to Section 4.04 on any such Certificate Account Deposit Date shall be limited to an amount not exceeding the portion of such Advance previously paid to Certificateholders (and not theretofore reimbursed to the Master Servicer or the related Subservicer). Section 3.11. Maintenance of the Primary Insurance Policies; Collections Thereunder. (a) The Master Servicer shall not take, or permit any Subservicer to take, any action which would result in non-coverage under any applicable Primary Insurance Policy of any loss which, but for the actions of the Master Servicer or Subservicer, would have been covered thereunder. To the extent coverage is available, the Master Servicer shall keep or cause to be kept in full force and effect each such Primary Insurance Policy until the principal balance of the related Mortgage Loan secured by a Mortgaged Property is reduced to 80% or less of the Appraised Value in the case of such a Mortgage Loan having a Loan-to-Value Ratio at origination in excess of 80%, provided that such Primary Insurance Policy was in place as of the Cut-off Date and the Company had knowledge of such Primary Insurance Policy. The Master Servicer shall be entitled to cancel or permit the discontinuation of any Primary Insurance Policy as to any Mortgage Loan, if the Stated Principal Balance of the Mortgage Loan is reduced below an amount equal to 80% of the appraised value of the related Mortgaged Property as determined in any appraisal thereof after the Closing Date, or if the Loan-to-Value Ratio is reduced below 80% as a result of principal payments on the Mortgage Loan after the Closing Date. In the event that the Company gains knowledge that as of the Closing Date, a Mortgage Loan had a Loan-to-Value Ratio at origination in excess of 80% and is not the subject of a Primary Insurance Policy (and was not included in any exception to the representation in Section 2.03(b)(iv)) and that such Mortgage Loan has a current Loan-to-Value Ratio in excess of 80% then the Master Servicer shall use its reasonable efforts to obtain and maintain a Primary Insurance Policy to the extent that such a policy is obtainable at a reasonable price. The Master Servicer shall not cancel or refuse to renew any such Primary Insurance Policy applicable to a Nonsubserviced Mortgage Loan, or consent to any Subservicer canceling or refusing to renew any such Primary Insurance Policy applicable to a Mortgage Loan subserviced by it, that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder unless the replacement Primary Insurance Policy for such canceled or non-renewed policy is maintained with an insurer whose claims-paying ability is acceptable to each Rating Agency for mortgage pass-through certificates having a rating equal to or better than the lower of the then-current rating or the rating assigned to the Certificates as of the Closing Date by such Rating Agency. (b) In connection with its activities as administrator and servicer of the Mortgage Loans, the Master Servicer agrees to present or to cause the related Subservicer to present, on behalf of the Master Servicer, the Subservicer, if any, the Trustee and Certificateholders, claims to the related Insurer under any Primary Insurance Policies, in a timely manner in accordance with such policies, and, in this regard, to take or cause to be taken such reasonable action as shall be necessary to permit recovery under any Primary Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 3.07, any Insurance Proceeds collected by or remitted to the Master Servicer under any Primary Insurance Policies shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.10. Section 3.12. Maintenance of Fire Insurance and Omissions and Fidelity Coverage. (a) The Master Servicer shall cause to be maintained for each Mortgage Loan (other than a Cooperative Loan) fire insurance with extended coverage in an amount which is equal to the lesser of the principal balance owing on such Mortgage Loan or 100 percent of the insurable value of the improvements; provided, however, that such coverage may not be less than the minimum amount required to fully compensate for any loss or damage on a replacement cost basis. To the extent it may do so without breaching the related Subservicing Agreement, the Master Servicer shall replace any Subservicer that does not cause such insurance, to the extent it is available, to be maintained. The Master Servicer shall also cause to be maintained on property acquired upon foreclosure, or deed in lieu of foreclosure, of any Mortgage Loan (other than a Cooperative Loan), fire insurance with extended coverage in an amount which is at least equal to the amount necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Pursuant to Section 3.07, any amounts collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.10. Any cost incurred by the Master Servicer in maintaining any such insurance shall not, for the purpose of calculating monthly distributions to the Certificateholders, be added to the amount owing under the Mortgage Loan, notwithstanding that the terms of the Mortgage Loan so permit. Such costs shall be recoverable by the Master Servicer out of related late payments by the Mortgagor or out of Insurance Proceeds and Liquidation Proceeds to the extent permitted by Section 3.10. It is understood and agreed that no earthquake or other additional insurance is to be required of any Mortgagor or maintained on property acquired in respect of a Mortgage Loan other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. Whenever the improvements securing a Mortgage Loan (other than a Cooperative Loan) are located at the time of origination of such Mortgage Loan in a federally designated special flood hazard area, the Master Servicer shall cause flood insurance (to the extent available) to be maintained in respect thereof. Such flood insurance shall be in an amount equal to the lesser of (i) the amount required to compensate for any loss or damage to the Mortgaged Property on a replacement cost basis and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). If the Master Servicer shall obtain and maintain a blanket fire insurance policy with extended coverage insuring against hazard losses on all of the Mortgage Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.12(a), it being understood and agreed that such policy may contain a deductible clause, in which case the Master Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with the first sentence of this Section 3.12(a) and there shall have been a loss which would have been covered by such policy, deposit in the Certificate Account the amount not otherwise payable under the blanket policy because of such deductible clause. Any such deposit by the Master Servicer shall be made on the Certificate Account Deposit Date next preceding the Distribution Date which occurs in the month following the month in which payments under any such policy would have been deposited in the Custodial Account. In connection with its activities as administrator and servicer of the Mortgage Loans, the Master Servicer agrees to present, on behalf of itself, the Trustee and the Certificateholders, claims under any such blanket policy. (b) The Master Servicer shall obtain and maintain at its own expense and keep in full force and effect throughout the term of this Agreement a blanket fidelity bond and an errors and omissions insurance policy covering the Master Servicer's officers and employees and other persons acting on behalf of the Master Servicer in connection with its activities under this Agreement. The amount of coverage shall be at least equal to the coverage that would be required by Fannie Mae or Freddie Mac, whichever is greater, with respect to the Master Servicer if the Master Servicer were servicing and administering the Mortgage Loans for Fannie Mae or Freddie Mac. In the event that any such bond or policy ceases to be in effect, the Master Servicer shall obtain a comparable replacement bond or policy from an issuer or insurer, as the case may be, meeting the requirements, if any, of the Program Guide and acceptable to the Company. Coverage of the Master Servicer under a policy or bond obtained by an Affiliate of the Master Servicer and providing the coverage required by this Section 3.12(b) shall satisfy the requirements of this Section 3.12(b). Section 3.13. Enforcement of Due-on-Sale Clauses; Assumption and Modification Agreements; Certain Assignments. (a) When any Mortgaged Property is conveyed by the Mortgagor, the Master Servicer or Subservicer, to the extent it has knowledge of such conveyance, shall enforce any due-on-sale clause contained in any Mortgage Note or Mortgage, to the extent permitted under applicable law and governmental regulations, but only to the extent that such enforcement will not adversely affect or jeopardize coverage under any Required Insurance Policy. Notwithstanding the foregoing: (i) the Master Servicer shall not be deemed to be in default under this Section 3.13(a) by reason of any transfer or assumption which the Master Servicer is restricted by law from preventing; and (ii) if the Master Servicer determines that it is reasonably likely that any Mortgagor will bring, or if any Mortgagor does bring, legal action to declare invalid or otherwise avoid enforcement of a due-on-sale clause contained in any Mortgage Note or Mortgage, the Master Servicer shall not be required to enforce the due-on-sale clause or to contest such action. (b) Subject to the Master Servicer's duty to enforce any due-on-sale clause to the extent set forth in Section 3.13(a), in any case in which a Mortgaged Property is to be conveyed to a Person by a Mortgagor, and such Person is to enter into an assumption or modification agreement or supplement to the Mortgage Note or Mortgage which requires the signature of the Trustee, or if an instrument of release signed by the Trustee is required releasing the Mortgagor from liability on the Mortgage Loan, the Master Servicer is authorized, subject to the requirements of the sentence next following, to execute and deliver, on behalf of the Trustee, the assumption agreement with the Person to whom the Mortgaged Property is to be conveyed and such modification agreement or supplement to the Mortgage Note or Mortgage or other instruments as are reasonable or necessary to carry out the terms of the Mortgage Note or Mortgage or otherwise to comply with any applicable laws regarding assumptions or the transfer of the Mortgaged Property to such Person; provided, however, none of such terms and requirements shall either (i) both (A) constitute a "significant modification" effecting an exchange or reissuance of such Mortgage Loan under the REMIC Provisions and (B) cause any portion of any REMIC formed under the Series Supplement to fail to qualify as a REMIC under the Code or (subject to Section 10.01(f)), result in the imposition of any tax on "prohibited transactions" or (ii) constitute "contributions" after the start-up date under the REMIC Provisions. The Master Servicer shall execute and deliver such documents only if it reasonably determines that (i) its execution and delivery thereof will not conflict with or violate any terms of this Agreement or cause the unpaid balance and interest on the Mortgage Loan to be uncollectible in whole or in part, (ii) any required consents of insurers under any Required Insurance Policies have been obtained and (iii) subsequent to the closing of the transaction involving the assumption or transfer (A) the Mortgage Loan will continue to be secured by a first mortgage lien pursuant to the terms of the Mortgage, (B) such transaction will not adversely affect the coverage under any Required Insurance Policies, (C) the Mortgage Loan will fully amortize over the remaining term thereof, (D) no material term of the Mortgage Loan (including the interest rate on the Mortgage Loan) will be altered nor will the term of the Mortgage Loan be changed and (E) if the seller/transferor of the Mortgaged Property is to be released from liability on the Mortgage Loan, such release will not (based on the Master Servicer's or Subservicer's good faith determination) adversely affect the collectability of the Mortgage Loan. Upon receipt of appropriate instructions from the Master Servicer in accordance with the foregoing, the Trustee shall execute any necessary instruments for such assumption or substitution of liability as directed in writing by the Master Servicer. Upon the closing of the transactions contemplated by such documents, the Master Servicer shall cause the originals or true and correct copies of the assumption agreement, the release (if any), or the modification or supplement to the Mortgage Note or Mortgage to be delivered to the Trustee or the Custodian and deposited with the Mortgage File for such Mortgage Loan. Any fee collected by the Master Servicer or such related Subservicer for entering into an assumption or substitution of liability agreement will be retained by the Master Servicer or such Subservicer as additional servicing compensation. (c) The Master Servicer or the related Subservicer, as the case may be, shall be entitled to approve a request from a Mortgagor for a partial release of the related Mortgaged Property, the granting of an easement thereon in favor of another Person, any alteration or demolition of the related Mortgaged Property (or, with respect to a Cooperative Loan, the related Cooperative Apartment) without any right of reimbursement or other similar matters if it has determined, exercising its good faith business judgment in the same manner as it would if it were the owner of the related Mortgage Loan, that the security for, and the timely and full collectability of, such Mortgage Loan would not be adversely affected thereby and that any portion of any REMIC formed under the Series Supplement would not fail to continue to qualify as a REMIC under the Code as a result thereof and (subject to Section 10.01(f)) that no tax on "prohibited transactions" or "contributions" after the startup day would be imposed on any such REMIC as a result thereof. Any fee collected by the Master Servicer or the related Subservicer for processing such a request will be retained by the Master Servicer or such Subservicer as additional servicing compensation. (d) Subject to any other applicable terms and conditions of this Agreement, the Trustee and Master Servicer shall be entitled to approve an assignment in lieu of satisfaction with respect to any Mortgage Loan, provided the obligee with respect to such Mortgage Loan following such proposed assignment provides the Trustee and Master Servicer with a "Lender Certification for Assignment of Mortgage Loan" in the form attached hereto as Exhibit M, in form and substance satisfactory to the Trustee and Master Servicer, providing the following: (i) that the substance of the assignment is, and is intended to be, a refinancing of such Mortgage; (ii) that the Mortgage Loan following the proposed assignment will have a rate of interest at least 0.25 percent below or above the rate of interest on such Mortgage Loan prior to such proposed assignment; and (iii) that such assignment is at the request of the borrower under the related Mortgage Loan. Upon approval of an assignment in lieu of satisfaction with respect to any Mortgage Loan, the Master Servicer shall receive cash in an amount equal to the unpaid principal balance of and accrued interest on such Mortgage Loan and the Master Servicer shall treat such amount as a Principal Prepayment in Full with respect to such Mortgage Loan for all purposes hereof. Section 3.14. Realization Upon Defaulted Mortgage Loans. (a) The Master Servicer shall foreclose upon or otherwise comparably convert (which may include an REO Acquisition) the ownership of properties securing such of the Mortgage Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments pursuant to Section 3.07. Alternatively, the Master Servicer may take other actions in respect of a defaulted Mortgage Loan, which may include (i) accepting a short sale (a payoff of the Mortgage Loan for an amount less than the total amount contractually owed in order to facilitate a sale of the Mortgaged Property by the Mortgagor) or permitting a short refinancing (a payoff of the Mortgage Loan for an amount less than the total amount contractually owed in order to facilitate refinancing transactions by the Mortgagor not involving a sale of the Mortgaged Property), (ii) arranging for a repayment plan or (iii) agreeing to a modification in accordance with Section 3.07. In connection with such foreclosure or other conversion, the Master Servicer shall, consistent with Section 3.11, follow such practices and procedures as it shall deem necessary or advisable, as shall be normal and usual in its general mortgage servicing activities and as shall be required or permitted by the Program Guide; provided that the Master Servicer shall not be liable in any respect hereunder if the Master Servicer is acting in connection with any such foreclosure or other conversion in a manner that is consistent with the provisions of this Agreement. The Master Servicer, however, shall not be required to expend its own funds or incur other reimbursable charges in connection with any foreclosure, or attempted foreclosure which is not completed, or towards the restoration of any property unless it shall determine (i) that such restoration and/or foreclosure will increase the proceeds of liquidation of the Mortgage Loan to Holders of Certificates of one or more Classes after reimbursement to itself for such expenses or charges and (ii) that such expenses or charges will be recoverable to it through Liquidation Proceeds, Insurance Proceeds, or REO Proceeds (respecting which it shall have priority for purposes of withdrawals from the Custodial Account pursuant to Section 3.10, whether or not such expenses and charges are actually recoverable from related Liquidation Proceeds, Insurance Proceeds or REO Proceeds). In the event of such a determination by the Master Servicer pursuant to this Section 3.14(a), the Master Servicer shall be entitled to reimbursement of such amounts pursuant to Section 3.10. In addition to the foregoing, the Master Servicer shall use its best reasonable efforts to realize upon any Additional Collateral for such of the Additional Collateral Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments pursuant to Section 3.07; provided that the Master Servicer shall not, on behalf of the Trustee, obtain title to any such Additional Collateral as a result of or in lieu of the disposition thereof or otherwise; and provided further that (i) the Master Servicer shall not proceed with respect to such Additional Collateral in any manner that would impair the ability to recover against the related Mortgaged Property, and (ii) the Master Servicer shall proceed with any REO Acquisition in a manner that preserves the ability to apply the proceeds of such Additional Collateral against amounts owed under the defaulted Mortgage Loan. Any proceeds realized from such Additional Collateral (other than amounts to be released to the Mortgagor or the related guarantor in accordance with procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note and to the terms and conditions of any security agreement, guarantee agreement, mortgage or other agreement governing the disposition of the proceeds of such Additional Collateral) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.10. Any other payment received by the Master Servicer in respect of such Additional Collateral shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.10. For so long as the Master Servicer is the Master Servicer under the Credit Support Pledge Agreement, the Master Servicer shall perform its obligations under the Credit Support Pledge Agreement in accordance with such Agreement and in a manner that is in the best interests of the Certificateholders. Further, the Master Servicer shall use its best reasonable efforts to realize upon any Pledged Assets for such of the Pledged Asset Loans as come into and continue in default and as to which no satisfactory arrangements can be made for collection of delinquent payments pursuant to Section 3.07; provided that the Master Servicer shall not, on behalf of the Trustee, obtain title to any such Pledged Assets as a result of or in lieu of the disposition thereof or otherwise; and provided further that (i) the Master Servicer shall not proceed with respect to such Pledged Assets in any manner that would impair the ability to recover against the related Mortgaged Property, and (ii) the Master Servicer shall proceed with any REO Acquisition in a manner that preserves the ability to apply the proceeds of such Pledged Assets against amounts owed under the defaulted Mortgage Loan. Any proceeds realized from such Pledged Assets (other than amounts to be released to the Mortgagor or the related guarantor in accordance with procedures that the Master Servicer would follow in servicing loans held for its own account, subject to the terms and conditions of the related Mortgage and Mortgage Note and to the terms and conditions of any security agreement, guarantee agreement, mortgage or other agreement governing the disposition of the proceeds of such Pledged Assets) shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 3.10. Any other payment received by the Master Servicer in respect of such Pledged Assets shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 3.10. Concurrently with the foregoing, the Master Servicer may pursue any remedies that may be available in connection with a breach of a representation and warranty with respect to any such Mortgage Loan in accordance with Sections 2.03 and 2.04. However, the Master Servicer is not required to continue to pursue both foreclosure (or similar remedies) with respect to the Mortgage Loans and remedies in connection with a breach of a representation and warranty if the Master Servicer determines in its reasonable discretion that one such remedy is more likely to result in a greater recovery as to the Mortgage Loan. Upon the occurrence of a Cash Liquidation or REO Disposition, following the deposit in the Custodial Account of all Insurance Proceeds, Liquidation Proceeds and other payments and recoveries referred to in the definition of "Cash Liquidation" or "REO Disposition," as applicable, upon receipt by the Trustee of written notification of such deposit signed by a Servicing Officer, the Trustee or any Custodian, as the case may be, shall release to the Master Servicer the related Mortgage File and the Trustee shall execute and deliver such instruments of transfer or assignment prepared by the Master Servicer, in each case without recourse, as shall be necessary to vest in the Master Servicer or its designee, as the case may be, the related Mortgage Loan, and thereafter such Mortgage Loan shall not be part of the Trust Fund. Notwithstanding the foregoing or any other provision of this Agreement, in the Master Servicer's sole discretion with respect to any defaulted Mortgage Loan or REO Property as to either of the following provisions, (i) a Cash Liquidation or REO Disposition may be deemed to have occurred if substantially all amounts expected by the Master Servicer to be received in connection with the related defaulted Mortgage Loan or REO Property have been received, and (ii) for purposes of determining the amount of any Liquidation Proceeds, Insurance Proceeds, REO Proceeds or any other unscheduled collections or the amount of any Realized Loss, the Master Servicer may take into account minimal amounts of additional receipts expected to be received or any estimated additional liquidation expenses expected to be incurred in connection with the related defaulted Mortgage Loan or REO Property. (b) If title to any Mortgaged Property is acquired by the Trust Fund as an REO Property by foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be issued to the Trustee or to its nominee on behalf of Certificateholders. Notwithstanding any such acquisition of title and cancellation of the related Mortgage Loan, such REO Property shall (except as otherwise expressly provided herein) be considered to be an Outstanding Mortgage Loan held in the Trust Fund until such time as the REO Property shall be sold. Consistent with the foregoing for purposes of all calculations hereunder so long as such REO Property shall be considered to be an Outstanding Mortgage Loan it shall be assumed that, notwithstanding that the indebtedness evidenced by the related Mortgage Note shall have been discharged, such Mortgage Note and the related amortization schedule in effect at the time of any such acquisition of title (after giving effect to any previous Curtailments and before any adjustment thereto by reason of any bankruptcy or similar proceeding or any moratorium or similar waiver or grace period) remain in effect. (c) If the Trust Fund acquires any REO Property as aforesaid or otherwise in connection with a default or imminent default on a Mortgage Loan, the Master Servicer on behalf of the Trust Fund shall dispose of such REO Property as soon as practicable, giving due consideration to the interests of the Certificateholders, but in all cases within three full years after the taxable year of its acquisition by the Trust Fund for purposes of Section 860G(a)(8) of the Code (or such shorter period as may be necessary under applicable state (including any state in which such property is located) law to maintain the status of any portion of any REMIC formed under the Series Supplement as a REMIC under applicable state law and avoid taxes resulting from such property failing to be foreclosure property under applicable state law) or, at the expense of the Trust Fund, request, more than 60 days before the day on which such grace period would otherwise expire, an extension of such grace period unless the Master Servicer (subject to Section 10.01(f)) obtains for the Trustee an Opinion of Counsel, addressed to the Trustee and the Master Servicer, to the effect that the holding by the Trust Fund of such REO Property subsequent to such period will not result in the imposition of taxes on "prohibited transactions" as defined in Section 860F of the Code or cause any REMIC formed under the Series Supplement to fail to qualify as a REMIC (for federal (or any applicable State or local) income tax purposes) at any time that any Certificates are outstanding, in which case the Trust Fund may continue to hold such REO Property (subject to any conditions contained in such Opinion of Counsel). The Master Servicer shall be entitled to be reimbursed from the Custodial Account for any costs incurred in obtaining such Opinion of Counsel, as provided in Section 3.10. Notwithstanding any other provision of this Agreement, no REO Property acquired by the Trust Fund shall be rented (or allowed to continue to be rented) or otherwise used by or on behalf of the Trust Fund in such a manner or pursuant to any terms that would (i) cause such REO Property to fail to qualify as "foreclosure property" within the meaning of Section 860G(a)(8) of the Code or (ii) subject the Trust Fund to the imposition of any federal income taxes on the income earned from such REO Property, including any taxes imposed by reason of Section 860G(c) of the Code, unless the Master Servicer has agreed to indemnify and hold harmless the Trust Fund with respect to the imposition of any such taxes. (d) The proceeds of any Cash Liquidation, REO Disposition or purchase or repurchase of any Mortgage Loan pursuant to the terms of this Agreement, as well as any recovery resulting from a collection of Liquidation Proceeds, Insurance Proceeds or REO Proceeds, will be applied in the following order of priority: first, to reimburse the Master Servicer or the related Subservicer in accordance with Section 3.10(a)(ii); second, to the Certificateholders to the extent of accrued and unpaid interest on the Mortgage Loan, and any related REO Imputed Interest, at the Net Mortgage Rate (or the Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) to the Due Date prior to the Distribution Date on which such amounts are to be distributed; third, to the Certificateholders as a recovery of principal on the Mortgage Loan (or REO Property); fourth, to all Servicing Fees and Subservicing Fees payable therefrom (and the Master Servicer and the Subservicer shall have no claims for any deficiencies with respect to such fees which result from the foregoing allocation); and fifth, to Foreclosure Profits. (e) In the event of a default on a Mortgage Loan one or more of whose obligors is not a United States Person, in connection with any foreclosure or acquisition of a deed in lieu of foreclosure (together, "foreclosure") in respect of such Mortgage Loan, the Master Servicer will cause compliance with the provisions of Treasury Regulation Section 1.1445-2(d)(3) (or any successor thereto) necessary to assure that no withholding tax obligation arises with respect to the proceeds of such foreclosure except to the extent, if any, that proceeds of such foreclosure are required to be remitted to the obligors on such Mortgage Loan. Section 3.15. Trustee to Cooperate; Release of Mortgage Files. (a) Upon becoming aware of the payment in full of any Mortgage Loan, or upon the receipt by the Master Servicer of a notification that payment in full will be escrowed in a manner customary for such purposes, the Master Servicer will immediately notify the Trustee (if it holds the related Mortgage File) or the Custodian by a certification of a Servicing Officer (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Custodial Account pursuant to Section 3.07 have been or will be so deposited), substantially in one of the forms attached hereto as Exhibit F, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting delivery to it of the Mortgage File. Within two Business Days of receipt of such certification and request, the Trustee shall release, or cause the Custodian to release, the related Mortgage File to the Master Servicer. The Master Servicer is authorized to execute and deliver to the Mortgagor the request for reconveyance, deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of the Mortgage, together with the Mortgage Note with, as appropriate, written evidence of cancellation thereon and to cause the removal from the registration on the MERS(R)System of such Mortgage and to execute and deliver, on behalf of the Trustee and the Certificateholders or any of them, any and all instruments of satisfaction or cancellation or of partial or full release. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Custodial Account or the Certificate Account. (b) From time to time as is appropriate for the servicing or foreclosure of any Mortgage Loan, the Master Servicer shall deliver to the Custodian, with a copy to the Trustee, a certificate of a Servicing Officer substantially in one of the forms attached as Exhibit F hereto, or, in the case of the Custodian, an electronic request in a form acceptable to the Custodian, requesting that possession of all, or any document constituting part of, the Mortgage File be released to the Master Servicer and certifying as to the reason for such release and that such release will not invalidate any insurance coverage provided in respect of the Mortgage Loan under any Required Insurance Policy. Upon receipt of the foregoing, the Trustee shall deliver, or cause the Custodian to deliver, the Mortgage File or any document therein to the Master Servicer. The Master Servicer shall cause each Mortgage File or any document therein so released to be returned to the Trustee, or the Custodian as agent for the Trustee when the need therefor by the Master Servicer no longer exists, unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the Mortgage Loan have been deposited in the Custodial Account or (ii) the Mortgage File or such document has been delivered directly or through a Subservicer to an attorney, or to a public trustee or other public official as required by law, for purposes of initiating or pursuing legal action or other proceedings for the foreclosure of the Mortgaged Property either judicially or non-judicially, and the Master Servicer has delivered directly or through a Subservicer to the Trustee a certificate of a Servicing Officer certifying as to the name and address of the Person to which such Mortgage File or such document was delivered and the purpose or purposes of such delivery. In the event of the liquidation of a Mortgage Loan, the Trustee shall deliver the Request for Release with respect thereto to the Master Servicer upon deposit of the related Liquidation Proceeds in the Custodial Account. (c) The Trustee or the Master Servicer on the Trustee's behalf shall execute and deliver to the Master Servicer, if necessary, any court pleadings, requests for trustee's sale or other documents necessary to the foreclosure or trustee's sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. Together with such documents or pleadings (if signed by the Trustee), the Master Servicer shall deliver to the Trustee a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate any insurance coverage under any Required Insurance Policy or invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee's sale. Section 3.16. Servicing and Other Compensation; Compensating Interest. (a) The Master Servicer, as compensation for its activities hereunder, shall be entitled to receive on each Distribution Date the amounts provided for by clauses (iii), (iv), (v) and (vi) of Section 3.10(a), subject to clause (e) below. The amount of servicing compensation provided for in such clauses shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. In the event that Liquidation Proceeds, Insurance Proceeds and REO Proceeds (net of amounts reimbursable therefrom pursuant to Section 3.10(a)(ii)) in respect of a Cash Liquidation or REO Disposition exceed the unpaid principal balance of such Mortgage Loan plus unpaid interest accrued thereon (including REO Imputed Interest) at a per annum rate equal to the related Net Mortgage Rate (or the Modified Net Mortgage Rate in the case of a Modified Mortgage Loan), the Master Servicer shall be entitled to retain therefrom and to pay to itself and/or the related Subservicer, any Foreclosure Profits and any Servicing Fee or Subservicing Fee considered to be accrued but unpaid. (b) Additional servicing compensation in the form of prepayment charges, assumption fees, late payment charges, investment income on amounts in the Custodial Account or the Certificate Account or otherwise shall be retained by the Master Servicer or the Subservicer to the extent provided herein, subject to clause (e) below. (c) The Master Servicer shall be required to pay, or cause to be paid, all expenses incurred by it in connection with its servicing activities hereunder (including payment of premiums for the Primary Insurance Policies, if any, to the extent such premiums are not required to be paid by the related Mortgagors, and the fees and expenses of the Trustee and any co-trustee (as provided in Section 8.05) and the fees and expense of any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided in Sections 3.10 and 3.14. (d) The Master Servicer's right to receive servicing compensation may not be transferred in whole or in part except in connection with the transfer of all of its responsibilities and obligations of the Master Servicer under this Agreement. (e) Notwithstanding any other provision herein, the amount of servicing compensation that the Master Servicer shall be entitled to receive for its activities hereunder for the period ending on each Distribution Date shall be reduced (but not below zero) by an amount equal to Compensating Interest (if any) for such Distribution Date. Such reduction shall be applied during such period as follows: first, to any Servicing Fee or Subservicing Fee to which the Master Servicer is entitled pursuant to Section 3.10(a)(iii), and second, to any income or gain realized from any investment of funds held in the Custodial Account or the Certificate Account to which the Master Servicer is entitled pursuant to Sections 3.07(c) or 4.01(b), respectively. In making such reduction, the Master Servicer (i) will not withdraw from the Custodial Account any such amount representing all or a portion of the Servicing Fee to which it is entitled pursuant to Section 3.10(a)(iii), and (ii) will not withdraw from the Custodial Account or Certificate Account any such amount to which it is entitled pursuant to Section 3.07(c) or 4.01(b). Section 3.17. Reports to the Trustee and the Company. Not later than fifteen days after it receives a written request from the Trusee or the Company, the Master Servicer shall forward to the Trustee and the Company a statement, certified by a Servicing Officer, setting forth the status of the Custodial Account as of the close of business on the immediately preceding Distribution Date as it relates to the Mortgage Loans and showing, for the period covered by such statement, the aggregate of deposits in or withdrawals from the Custodial Account in respect of the Mortgage Loans for each category of deposit specified in Section 3.07 and each category of withdrawal specified in Section 3.10. Section 3.18. Annual Statement as to Compliance and Servicing Assessment. The Master Servicer will deliver to the Company and the Trustee on or before the earlier of (a) March 31 of each year or (b) with respect to any calendar year during which the Company's annual report on Form 10-K is required to be filed in accordance with the Exchange Act and the rules and regulations of the Commission, the date on which the annual report on Form 10-K is required to be filed in accordance with the Exchange Act and the rules and regulations of the Commission, (i) a servicing assessment as described in Section 4.03(f)(ii) and (ii) a servicer compliance statement, signed by an authorized officer of the Master Servicer, as described in Items 1122(a), 1122(b) and 1123 of Regulation AB, to the effect that: (A) A review of the Master Servicer's activities during the reporting period and of its performance under this Agreement has been made under such officer's supervision. (B) To the best of such officer's knowledge, based on such review, the Master Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout the reporting period or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure known to such officer and the nature and status thereof. The Master Servicer shall use commercially reasonable efforts to obtain from all other parties participating in the servicing function any additional certifications required under Item 1122 and Item 1123 of Regulation AB to the extent required to be included in a Report on Form 10-K; provided, however, that a failure to obtain such certifications shall not be a breach of the Master Servicer's duties hereunder if any such party fails to deliver such a certification. Section 3.19. Annual Independent Public Accountants' Servicing Report. On or before the earlier of (a) March 31 of each year or (b) with respect to any calendar year during which the Company's annual report on Form 10-K is required to be filed in accordance with the Exchange Act and the rules and regulations of the Commission, the date on which the annual report is required to be filed in accordance with the Exchange Act and the rules and regulations of the Commission, the Master Servicer at its expense shall cause a firm of independent public accountants, which shall be members of the American Institute of Certified Public Accountants, to furnish a report to the Company and the Trustee the attestation required under Item 1122(b) of Regulation AB. In rendering such statement, such firm may rely, as to matters relating to the direct servicing of mortgage loans by Subservicers, upon comparable statements for examinations conducted by independent public accountants substantially in accordance with standards established by the American Institute of Certified Public Accountants (rendered within one year of such statement) with respect to such Subservicers. Section 3.20. Rights of the Company in Respect of the Master Servicer. The Master Servicer shall afford the Company, upon reasonable notice, during normal business hours access to all records maintained by the Master Servicer in respect of its rights and obligations hereunder and access to officers of the Master Servicer responsible for such obligations. Upon request, the Master Servicer shall furnish the Company with its most recent financial statements and such other information as the Master Servicer possesses regarding its business, affairs, property and condition, financial or otherwise. The Master Servicer shall also cooperate with all reasonable requests for information including, but not limited to, notices, tapes and copies of files, regarding itself, the Mortgage Loans or the Certificates from any Person or Persons identified by the Company or Residential Funding. The Company may, but is not obligated to, enforce the obligations of the Master Servicer hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of the Master Servicer hereunder or exercise the rights of the Master Servicer hereunder; provided that the Master Servicer shall not be relieved of any of its obligations hereunder by virtue of such performance by the Company or its designee. The Company shall not have any responsibility or liability for any action or failure to act by the Master Servicer and is not obligated to supervise the performance of the Master Servicer under this Agreement or otherwise. Section 3.21. Administration of Buydown Funds (a) With respect to any Buydown Mortgage Loan, the Subservicer has deposited Buydown Funds in an account that satisfies the requirements for a Subservicing Account (the "Buydown Account"). The Master Servicer shall cause the Subservicing Agreement to require that upon receipt from the Mortgagor of the amount due on a Due Date for each Buydown Mortgage Loan, the Subservicer will withdraw from the Buydown Account the predetermined amount that, when added to the amount due on such date from the Mortgagor, equals the full Monthly Payment and transmit that amount in accordance with the terms of the Subservicing Agreement to the Master Servicer together with the related payment made by the Mortgagor or advanced by the Subservicer. (b) If the Mortgagor on a Buydown Mortgage Loan prepays such loan in its entirety during the period (the "Buydown Period") when Buydown Funds are required to be applied to such Buydown Mortgage Loan, the Subservicer shall be required to withdraw from the Buydown Account and remit any Buydown Funds remaining in the Buydown Account in accordance with the related buydown agreement. The amount of Buydown Funds which may be remitted in accordance with the related buydown agreement may reduce the amount required to be paid by the Mortgagor to fully prepay the related Mortgage Loan. If the Mortgagor on a Buydown Mortgage Loan defaults on such Mortgage Loan during the Buydown Period and the property securing such Buydown Mortgage Loan is sold in the liquidation thereof (either by the Master Servicer or the insurer under any related Primary Insurance Policy), the Subservicer shall be required to withdraw from the Buydown Account the Buydown Funds for such Buydown Mortgage Loan still held in the Buydown Account and remit the same to the Master Servicer in accordance with the terms of the Subservicing Agreement for deposit in the Custodial Account or, if instructed by the Master Servicer, pay to the insurer under any related Primary Insurance Policy if the Mortgaged Property is transferred to such insurer and such insurer pays all of the loss incurred in respect of such default. Any amount so remitted pursuant to the preceding sentence will be deemed to reduce the amount owed on the Mortgage Loan. Section 3.22. Advance Facility (a) The Master Servicer is hereby authorized to enter into a financing or other facility (any such arrangement, an "Advance Facility") under which (1) the Master Servicer sells, assigns or pledges to another Person (an "Advancing Person") the Master Servicer's rights under this Agreement to be reimbursed for any Advances or Servicing Advances and/or (2) an Advancing Person agrees to fund some or all Advances and/or Servicing Advances required to be made by the Master Servicer pursuant to this Agreement. No consent of the Depositor, the Trustee, the Certificateholders or any other party shall be required before the Master Servicer may enter into an Advance Facility. Notwithstanding the existence of any Advance Facility under which an Advancing Person agrees to fund Advances and/or Servicing Advances on the Master Servicer's behalf, the Master Servicer shall remain obligated pursuant to this Agreement to make Advances and Servicing Advances pursuant to and as required by this Agreement. If the Master Servicer enters into an Advance Facility, and for so long as an Advancing Person remains entitled to receive reimbursement for any Advances including Nonrecoverable Advances ("Advance Reimbursement Amounts") and/or Servicing Advances including Nonrecoverable Advances ("Servicing Advance Reimbursement Amounts" and together with Advance Reimbursement Amounts, "Reimbursement Amounts") (in each case to the extent such type of Reimbursement Amount is included in the Advance Facility), as applicable, pursuant to this Agreement, then the Master Servicer shall identify such Reimbursement Amounts consistent with the reimbursement rights set forth in Section 3.10(a)(ii) and (vii) and remit such Reimbursement Amounts in accordance with this Section 3.22 or otherwise in accordance with the documentation establishing the Advance Facility to such Advancing Person or to a trustee, agent or custodian (an "Advance Facility Trustee") designated by such Advancing Person in an Advance Facility Notice described below in Section 3.22(b). Notwithstanding the foregoing, if so required pursuant to the terms of the Advance Facility, the Master Servicer may direct, and if so directed in writing the Trustee is hereby authorized to and shall pay to the Advance Facility Trustee the Reimbursement Amounts identified pursuant to the preceding sentence. An Advancing Person whose obligations hereunder are limited to the funding of Advances and/or Servicing Advances shall not be required to meet the qualifications of a Master Servicer or a Subservicer pursuant to Section 3.02(a) or 6.02(c) hereof and shall not be deemed to be a Subservicer under this Agreement. Notwithstanding anything to the contrary herein, in no event shall Advance Reimbursement Amounts or Servicing Advance Reimbursement Amounts be included in the Available Distribution Amount or distributed to Certificateholders. (b) If the Master Servicer enters into an Advance Facility and makes the election set forth in Section 3.22(a), the Master Servicer and the related Advancing Person shall deliver to the Certificate Insurer and the Trustee a written notice and payment instruction (an "Advance Facility Notice"), providing the Trustee with written payment instructions as to where to remit Advance Reimbursement Amounts and/or Servicing Advance Reimbursement Amounts (each to the extent such type of Reimbursement Amount is included within the Advance Facility) on subsequent Distribution Dates. The payment instruction shall require the applicable Reimbursement Amounts to be distributed to the Advancing Person or to an Advance Facility Trustee designated in the Advance Facility Notice. An Advance Facility Notice may only be terminated by the joint written direction of the Master Servicer and the related Advancing Person (and any related Advance Facility Trustee). The Master Servicer shall provide the Certificate Insurer, if any, with notice of any termination of any Advance Facility pursuant to this Section 3.22(b). (c) Reimbursement Amounts shall consist solely of amounts in respect of Advances and/or Servicing Advances made with respect to the Mortgage Loans for which the Master Servicer would be permitted to reimburse itself in accordance with Section 3.10(a)(ii) and (vii) hereof, assuming the Master Servicer or the Advancing Person had made the related Advance(s) and/or Servicing Advance(s). Notwithstanding the foregoing, except with respect to reimbursement of Nonrecoverable Advances as set forth in Section 3.10(c) of this Agreement, no Person shall be entitled to reimbursement from funds held in the Collection Account for future distribution to Certificateholders pursuant to this Agreement. Neither the Company nor the Trustee shall have any duty or liability with respect to the calculation of any Reimbursement Amount, nor shall the Company or the Trustee have any responsibility to track or monitor the administration of the Advance Facility or have any responsibility to track, monitor or verify the payment of Reimbursement Amounts to the related Advancing Person or Advance Facility Trustee; provided, however, the Trustee shall maintain records with respect to the payment of such Reimbursement Amounts as it does with respect to other distributions made pursuant to this Agreement. The Master Servicer shall maintain and provide to any Successor Master Servicer a detailed accounting on a loan-by-loan basis as to amounts advanced by, sold, pledged or assigned to, and reimbursed to any Advancing Person. The Successor Master Servicer shall be entitled to rely on any such information provided by the Master Servicer and the Successor Master Servicer shall not be liable for any errors in such information. (d) Upon the direction of and at the expense of the Master Servicer, the Trustee agrees to execute such acknowledgments reasonably satisfactory to the Trustee provided by the Master Servicer recognizing the interests of any Advancing Person or Advance Facility Trustee in such Reimbursement Amounts as the Master Servicer may cause to be made subject to Advance Facilities pursuant to this Section 3.22. (e) Reimbursement Amounts collected with respect to each Mortgage Loan shall be allocated to outstanding unreimbursed Advances or Servicing Advances (as the case may be) made with respect to that Mortgage Loan on a "first-in, first out" ("FIFO") basis, subject to the qualifications set forth below: (i) Any successor Master Servicer to Residential Funding (a "Successor Master Servicer") and the Advancing Person or Advance Facility Trustee shall be required to apply all amounts available in accordance with this Section 3.22(e) to the reimbursement of Advances and Servicing Advances in the manner provided for herein; provided, however, that after the succession of a Successor Master Servicer, (A) to the extent that any Advances or Servicing Advances with respect to any particular Mortgage Loan are reimbursed from payments or recoveries, if any, from the related Mortgagor, and Liquidation Proceeds or Insurance Proceeds, if any, with respect to that Mortgage Loan, reimbursement shall be made, first, to the Advancing Person or Advance Facility Trustee in respect of Advances and/or Servicing Advances related to that Mortgage Loan to the extent of the interest of the Advancing Person or Advance Facility Trustee in such Advances and/or Servicing Advances, second to the Master Servicer in respect of Advances and/or Servicing Advances related to that Mortgage Loan in excess of those in which the Advancing Person or Advance Facility Trustee Person has an interest, and third, to the Successor Master Servicer in respect of any other Advances and/or Servicing Advances related to that Mortgage Loan, from such sources as and when collected, and (B) reimbursements of Advances and Servicing Advances that are Nonrecoverable Advances shall be made pro rata to the Advancing Person or Advance Facility Trustee, on the one hand, and any such Successor Master Servicer, on the other hand, on the basis of the respective aggregate outstanding unreimbursed Advances and Servicing Advances that are Nonrecoverable Advances owed to the Advancing Person, Advance Facility Trustee or Master Servicer pursuant to this Agreement, on the one hand, and any such Successor Master Servicer, on the other hand, and without regard to the date on which any such Advances or Servicing Advances shall have been made. In the event that, as a result of the FIFO allocation made pursuant to this Section 3.22(e), some or all of a Reimbursement Amount paid to the Advancing Person or Advance Facility Trustee relates to Advances or Servicing Advances that were made by a Person other than Residential Funding or the Advancing Person or Advance Facility Trustee, then the Advancing Person or Advance Facility Trustee shall be required to remit any portion of such Reimbursement Amount to the Person entitled to such portion of such Reimbursement Amount. Without limiting the generality of the foregoing, Residential Funding shall remain entitled to be reimbursed by the Advancing Person or Advance Facility Trustee for all Advances and Servicing Advances funded by Residential Funding to the extent the related Reimbursement Amount(s) have not been assigned or pledged to an Advancing Person or Advance Facility Trustee. The documentation establishing any Advance Facility shall require Residential Funding to provide to the related Advancing Person or Advance Facility Trustee loan by loan information with respect to each Reimbursement Amount distributed to such Advancing Person or Advance Facility Trustee on each date of remittance thereof to such Advancing Person or Advance Facility Trustee, to enable the Advancing Person or Advance Facility Trustee to make the FIFO allocation of each Reimbursement Amount with respect to each Mortgage Loan. (ii) By way of illustration, and not by way of limiting the generality of the foregoing, if the Master Servicer resigns or is terminated at a time when the Master Servicer is a party to an Advance Facility, and is replaced by a Successor Master Servicer, and the Successor Master Servicer directly funds Advances or Servicing Advances with respect to a Mortgage Loan and does not assign or pledge the related Reimbursement Amounts to the related Advancing Person or Advance Facility Trustee, then all payments and recoveries received from the related Mortgagor or received in the form of Liquidation Proceeds with respect to such Mortgage Loan (including Insurance Proceeds collected in connection with a liquidation of such Mortgage Loan) will be allocated first to the Advancing Person or Advance Facility Trustee until the related Reimbursement Amounts attributable to such Mortgage Loan that are owed to the Master Servicer and the Advancing Person, which were made prior to any Advances or Servicing Advances made by the Successor Master Servicer, have been reimbursed in full, at which point the Successor Master Servicer shall be entitled to retain all related Reimbursement Amounts subsequently collected with respect to that Mortgage Loan pursuant to Section 3.10 of this Agreement. To the extent that the Advances or Servicing Advances are Nonrecoverable Advances to be reimbursed on an aggregate basis pursuant to Section 3.10 of this Agreement, the reimbursement paid in this manner will be made pro rata to the Advancing Person or Advance Facility Trustee, on the one hand, and the Successor Master Servicer, on the other hand, as described in clause (i)(B) above. (f) The Master Servicer shall remain entitled to be reimbursed for all Advances and Servicing Advances funded by the Master Servicer to the extent the related rights to be reimbursed therefor have not been sold, assigned or pledged to an Advancing Person. (g) Any amendment to this Section 3.22 or to any other provision of this Agreement that may be necessary or appropriate to effect the terms of an Advance Facility as described generally in this Section 3.22, including amendments to add provisions relating to a successor Master Servicer, may be entered into by the Trustee, the Certificate Insurer, Company and the Master Servicer without the consent of any Certificateholder, with written confirmation from each Rating Agency that the amendment will not result in the reduction of the ratings on any class of the Certificates below the lesser of the then current or original ratings on such Certificates, notwithstanding anything to the contrary in Section 11.01 of or elsewhere in this Agreement. (h) Any rights of set-off that the Trust Fund, the Trustee, the Company, any Successor Master Servicer or any other Person might otherwise have against the Master Servicer under this Agreement shall not attach to any rights to be reimbursed for Advances or Servicing Advances that have been sold, transferred, pledged, conveyed or assigned to any Advancing Person. (i) At any time when an Advancing Person shall have ceased funding Advances and/or Servicing Advances (as the case may be) and the Advancing Person or related Advance Facility Trustee shall have received Reimbursement Amounts sufficient in the aggregate to reimburse all Advances and/or Servicing Advances (as the case may be) the right to reimbursement for which were assigned to the Advancing Person, then upon the delivery of a written notice signed by the Advancing Person and the Master Servicer or its successor or assign) to the Trustee terminating the Advance Facility Notice (the "Notice of Facility Termination"), the Master Servicer or its Successor Master Servicer shall again be entitled to withdraw and retain the related Reimbursement Amounts from the Custodial Account pursuant to Section 3.10. (j) After delivery of any Advance Facility Notice, and until any such Advance Facility Notice has been terminated by a Notice of Facility Termination, this Section 3.22 may not be amended or otherwise modified without the prior written consent of the related Advancing Person. ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS Section 4.01. Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments. Section 4.02. Distributions. As provided in Section 4.02 of the Series Supplement. Section 4.03. Statements to Certificateholders; Statements to Rating Agencies; Exchange Act Reporting. (a) Concurrently with each distribution charged to the Certificate Account and with respect to each Distribution Date the Master Servicer shall forward to the Trustee and the Trustee shall either forward by mail or make available to each Holder and the Company, via the Trustee's internet website, a statement (and at its option, any additional files containing the same information in an alternative format) setting forth information as to each Class of Certificates, the Mortgage Pool and, if the Mortgage Pool is comprised of two or more Loan Groups, each Loan Group, to the extent applicable. This statement will include the information set forth in an exhibit to the Series Supplement. The Trustee shall mail to each Holder that requests a paper copy by telephone a paper copy via first class mail. The Trustee shall provide prior notification to the Company, the Master Servicer and the Certificateholders regarding any such modification. In addition, the Master Servicer shall provide to any manager of a trust fund consisting of some or all of the Certificates, upon reasonable request, such additional information as is reasonably obtainable by the Master Servicer at no additional expense to the Master Servicer. Also, at the request of a Rating Agency, the Master Servicer shall provide the information relating to the Reportable Modified Mortgage Loans substantially in the form attached hereto as Exhibit Q to such Rating Agency within a reasonable period of time; provided, however, that the Master Servicer shall not be required to provide such information more than four times in a calendar year to any Rating Agency. (b) Within a reasonable period of time after the end of each calendar year, the Master Servicer shall prepare, or cause to be prepared, and shall forward, or cause to be forwarded, to the Trustee, and the Trustee shall make available to each Person who at any time during the calendar year was the Holder of a Certificate, other than a Class R Certificate, via the Trustee's internet website, a statement containing the information set forth in clauses (i) and (ii) of the exhibit to the Series Supplement referred to in subsection (a) above aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. The Trustee shall mail to each Holder that requests a paper copy by telephone a paper copy via first class mail. Such obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Master Servicer pursuant to any requirements of the Code. (c) Within a reasonable period of time after the end of each calendar year, the Master Servicer shall prepare, or cause to be prepared, and shall forward, or cause to be forwarded, to the Trustee, and the Trustee shall make available to each Person who at any time during the calendar year was the Holder of a Class R Certificate, via the Trustee's internet website, a statement containing the applicable distribution information provided pursuant to this Section 4.03 aggregated for such calendar year or applicable portion thereof during which such Person was the Holder of a Class R Certificate. The Trustee shall mail to each Holder that requests a paper copy by telephone a paper copy via first class mail. Such obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Master Servicer pursuant to any requirements of the Code. (d) Upon the written request of any Certificateholder, the Master Servicer, as soon as reasonably practicable, shall provide the requesting Certificateholder with such information as is necessary and appropriate, in the Master Servicer's sole discretion, for purposes of satisfying applicable reporting requirements under Rule 144A. (e) The Master Servicer shall, on behalf of the Company and in respect of the Trust Fund, sign and cause to be filed with the Commission any periodic reports required to be filed under the provisions of the Exchange Act, and the rules and regulations of the Commission thereunder including, without limitation, reports on Form 10-K, Form 10-D and Form 8-K. In connection with the preparation and filing of such periodic reports, the Trustee shall timely provide to the Master Servicer (I) a list of Certificateholders as shown on the Certificate Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any other documents relating to any claims, charges or complaints involving the Trustee, as trustee hereunder, or the Trust Fund that are received by a Responsible Officer of the Trustee, (III) notice of all matters that, to the actual knowledge of a Responsible Officer of the Trustee, have been submitted to a vote of the Certificateholders, other than those matters that have been submitted to a vote of the Certificateholders at the request of the Company or the Master Servicer, and (IV) notice of any failure of the Trustee to make any distribution to the Certificateholders as required pursuant to the Series Supplement. Neither the Master Servicer nor the Trustee shall have any liability with respect to the Master Servicer's failure to properly prepare or file such periodic reports resulting from or relating to the Master Servicer's inability or failure to obtain any information not resulting from the Master Servicer's own negligence or willful misconduct. (f) Any Form 10-K filed with the Commission in connection with this Section 4.03 shall include, with respect to the Certificates relating to such 10-K: (i) A certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit O hereto or such other form as may be required or permitted by the Commission (the "Form 10-K Certification"), in compliance with Rules 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. (ii) A report regarding its assessment of compliance during the preceding calendar year with all applicable servicing criteria set forth in relevant Commission regulations with respect to mortgage-backed securities transactions taken as a whole involving the Master Servicer that are backed by the same types of assets as those backing the certificates, as well as similar reports on assessment of compliance received from other parties participating in the servicing function as required by relevant Commission regulations, as described in Item 1122(a) of Regulation AB. The Master Servicer shall obtain from all other parties participating in the servicing function any required assessments. (iii) With respect to each assessment report described immediately above, a report by a registered public accounting firm that attests to, and reports on, the assessment made by the asserting party, as set forth in relevant Commission regulations, as described in Regulation 1122(b) of Regulation AB and Section 3.19. (iv) The servicer compliance certificate required to be delivered pursuant Section 3.18. (g) In connection with the Form 10-K Certification, the Trustee shall provide the Master Servicer with a back-up certification substantially in the form attached hereto as Exhibit P. (h) This Section 4.03 may be amended in accordance with this Agreement without the consent of the Certificateholders. (i) The Trustee shall make available on the Trustee's internet website each of the reports filed with the Commission by or on behalf of the Company under the Exchange Act, as soon as reasonably practicable upon delivery of such reports to the Trustee. Section 4.04. Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer. (a) Prior to the close of business on the Determination Date, the Master Servicer shall furnish a written statement to the Trustee, any Paying Agent and the Company (the information in such statement to be made available to any Certificate Insurer and Certificateholders by the Master Servicer on request) setting forth (i) the Available Distribution Amount and (ii) the amounts required to be withdrawn from the Custodial Account and deposited into the Certificate Account on the immediately succeeding Certificate Account Deposit Date pursuant to clause (iii) of Section 4.01(a). The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Trustee shall be protected in relying upon the same without any independent check or verification. (b) On or before 2:00 P.M. New York time on each Certificate Account Deposit Date, the Master Servicer shall either (i) deposit in the Certificate Account from its own funds, or funds received therefor from the Subservicers, an amount equal to the Advances to be made by the Master Servicer in respect of the related Distribution Date, which shall be in an aggregate amount equal to the aggregate amount of Monthly Payments (with each interest portion thereof adjusted to the Net Mortgage Rate), less the amount of any related Servicing Modifications, Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Servicemembers Civil Relief Act, as amended, or similar legislation or regulations then in effect, on the Outstanding Mortgage Loans as of the related Due Date, which Monthly Payments were not received as of the close of business as of the related Determination Date; provided that no Advance shall be made if it would be a Nonrecoverable Advance, (ii) withdraw from amounts on deposit in the Custodial Account and deposit in the Certificate Account all or a portion of the Amount Held for Future Distribution in discharge of any such Advance, or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Advance. Any portion of the Amount Held for Future Distribution so used shall be replaced by the Master Servicer by deposit in the Certificate Account on or before 11:00 A.M. New York time on any future Certificate Account Deposit Date to the extent that funds attributable to the Mortgage Loans that are available in the Custodial Account for deposit in the Certificate Account on such Certificate Account Deposit Date shall be less than payments to Certificateholders required to be made on the following Distribution Date. The Master Servicer shall be entitled to use any Advance made by a Subservicer as described in Section 3.07(b) that has been deposited in the Custodial Account on or before such Distribution Date as part of the Advance made by the Master Servicer pursuant to this Section 4.04. The amount of any reimbursement pursuant to Section 4.02(a) in respect of outstanding Advances on any Distribution Date shall be allocated to specific Monthly Payments due but delinquent for previous Due Periods, which allocation shall be made, to the extent practicable, to Monthly Payments which have been delinquent for the longest period of time. Such allocations shall be conclusive for purposes of reimbursement to the Master Servicer from recoveries on related Mortgage Loans pursuant to Section 3.10. The determination by the Master Servicer that it has made a Nonrecoverable Advance or that any proposed Advance, if made, would constitute a Nonrecoverable Advance, shall be evidenced by an Officers' Certificate of the Master Servicer delivered to the Company and the Trustee. If the Master Servicer determines as of the Business Day preceding any Certificate Account Deposit Date that it will be unable to deposit in the Certificate Account an amount equal to the Advance required to be made for the immediately succeeding Distribution Date, it shall give notice to the Trustee of its inability to advance (such notice may be given by telecopy), not later than 3:00 P.M., New York time, on such Business Day, specifying the portion of such amount that it will be unable to deposit. Not later than 3:00 P.M., New York time, on the Certificate Account Deposit Date the Trustee shall, unless by 12:00 Noon, New York time, on such day the Trustee shall have been notified in writing (by telecopy) that the Master Servicer shall have directly or indirectly deposited in the Certificate Account such portion of the amount of the Advance as to which the Master Servicer shall have given notice pursuant to the preceding sentence, pursuant to Section 7.01, (a) terminate all of the rights and obligations of the Master Servicer under this Agreement in accordance with Section 7.01 and (b) assume the rights and obligations of the Master Servicer hereunder, including the obligation to deposit in the Certificate Account an amount equal to the Advance for the immediately succeeding Distribution Date. The Trustee shall deposit all funds it receives pursuant to this Section 4.04 into the Certificate Account. Section 4.05. Allocation of Realized Losses. As provided in Section 4.05 of the Series Supplement. Section 4.06. Reports of Foreclosures and Abandonment of Mortgaged Property. The Master Servicer or the Subservicers shall file information returns with respect to the receipt of mortgage interests received in a trade or business, the reports of foreclosures and abandonments of any Mortgaged Property and the information returns relating to cancellation of indebtedness income with respect to any Mortgaged Property required by Sections 6050H, 6050J and 6050P, respectively, of the Code, and deliver to the Trustee an Officers' Certificate on or before March 31 of each year stating that such reports have been filed. Such reports shall be in form and substance sufficient to meet the reporting requirements imposed by Sections 6050H, 6050J and 6050P of the Code. Section 4.07. Optional Purchase of Defaulted Mortgage Loans. (a) With respect to any Mortgage Loan that is delinquent in payment by 90 days or more, the Master Servicer may, at its option, purchase such Mortgage Loan from the Trustee at the Purchase Price therefor; provided, that such Mortgage Loan that becomes 90 days or more delinquent during any given Calendar Quarter shall only be eligible for purchase pursuant to this Section during the period beginning on the first Business Day of the following Calendar Quarter, and ending at the close of business on the second-to-last Business Day of such following Calendar Quarter; and provided, further, that such Mortgage Loan is 90 days or more delinquent at the time of repurchase. Such option if not exercised shall not thereafter be reinstated as to any Mortgage Loan, unless the delinquency is cured and the Mortgage Loan thereafter again becomes delinquent in payment by 90 days or more in a subsequent Calendar Quarter. (b) If at any time the Master Servicer makes a payment to the Certificate Account covering the amount of the Purchase Price for such a Mortgage Loan as provided in clause (a) above, and the Master Servicer provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Certificate Account, then the Trustee shall execute the assignment of such Mortgage Loan at the request of the Master Servicer, without recourse, to the Master Servicer, which shall succeed to all the Trustee's right, title and interest in and to such Mortgage Loan, and all security and documents relative thereto. Such assignment shall be an assignment outright and not for security. The Master Servicer will thereupon own such Mortgage, and all such security and documents, free of any further obligation to the Trustee or the Certificateholders with respect thereto. If, however, the Master Servicer shall have exercised its right to repurchase a Mortgage Loan pursuant to this Section 4.07 upon the written request of and with funds provided by the Junior Certificateholder and thereupon transferred such Mortgage Loan to the Junior Certificateholder, the Master Servicer shall so notify the Trustee in writing. Section 4.08. Surety Bond. (a) If a Required Surety Payment is payable pursuant to the Surety Bond with respect to any Additional Collateral Loan, the Master Servicer shall so notify the Trustee as soon as reasonably practicable and the Trustee shall promptly complete the notice in the form of Attachment 1 to the Surety Bond and shall promptly submit such notice to the Surety as a claim for a Required Surety. The Master Servicer shall upon request assist the Trustee in completing such notice and shall provide any information requested by the Trustee in connection therewith. (b) Upon receipt of a Required Surety Payment from the Surety on behalf of the Holders of Certificates, the Trustee shall deposit such Required Surety Payment in the Certificate Account and shall distribute such Required Surety Payment, or the proceeds thereof, in accordance with the provisions of Section 4.02. (c) The Trustee shall (i) receive as attorney-in-fact of each Holder of a Certificate any Required Surety Payment from the Surety and (ii) disburse the same to the Holders of such Certificates as set forth in Section 4.02. ARTICLE V THE CERTIFICATES Section 5.01. The Certificates. (a) The Senior, Class M, Class B and Class R Certificates shall be substantially in the forms set forth in Exhibits A, B, C and D, respectively, and shall, on original issue, be executed and delivered by the Trustee to the Certificate Registrar for authentication and delivery to or upon the order of the Company upon receipt by the Trustee or one or more Custodians of the documents specified in Section 2.01. The Certificates shall be issuable in the minimum denominations designated in the Preliminary Statement to the Series Supplement. The Certificates shall be executed by manual or facsimile signature on behalf of an authorized officer of the Trustee. Certificates bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Trustee shall bind the Trustee, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificate or did not hold such offices at the date of such Certificates. No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless there appears on such Certificate a certificate of authentication substantially in the form provided for herein executed by the Certificate Registrar by manual signature, and such certificate upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. All Certificates shall be dated the date of their authentication. (b) Except as provided below, registration of Book-Entry Certificates may not be transferred by the Trustee except to another Depository that agrees to hold such Certificates for the respective Certificate Owners with Ownership Interests therein. The Holders of the Book-Entry Certificates shall hold their respective Ownership Interests in and to each of such Certificates through the book-entry facilities of the Depository and, except as provided below, shall not be entitled to Definitive Certificates in respect of such Ownership Interests. All transfers by Certificate Owners of their respective Ownership Interests in the Book-Entry Certificates shall be made in accordance with the procedures established by the Depository Participant or brokerage firm representing such Certificate Owner. Each Depository Participant shall transfer the Ownership Interests only in the Book-Entry Certificates of Certificate Owners it represents or of brokerage firms for which it acts as agent in accordance with the Depository's normal procedures. The Trustee, the Master Servicer and the Company may for all purposes (including the making of payments due on the respective Classes of Book-Entry Certificates) deal with the Depository as the authorized representative of the Certificate Owners with respect to the upon receipt of notice of such intent from the Depository, the Depository Participants holding beneficial interests in the Book - Entry Certificates agree to such termination, respective Classes of Book-Entry Certificates for the purposes of exercising the rights of Certificateholders hereunder. The rights of Certificate Owners with respect to the respective Classes of Book-Entry Certificates shall be limited to those established by law and agreements between such Certificate Owners and the Depository Participants and brokerage firms representing such Certificate Owners. Multiple requests and directions from, and votes of, the Depository as Holder of any Class of Book-Entry Certificates with respect to any particular matter shall not be deemed inconsistent if they are made with respect to different Certificate Owners. The Trustee may establish a reasonable record date in connection with solicitations of consents from or voting by Certificateholders and shall give notice to the Depository of such record date. If (i)(A) the Company advises the Trustee in writing that the Depository is no longer willing or able to properly discharge its responsibilities as Depository and (B) the Company is unable to locate a qualified successor or (ii) the Company notifies the Depository of its intent to terminate the book-entry system and, upon receipt of notice of such intent from the Depository, the Depository Participants holding beneficial interests in the Book-Entry Certificates agree to such termination through the Depository, the Trustee shall notify all Certificate Owners, through the Depository, of the occurrence of any such event and of the availability of Definitive Certificates to Certificate Owners requesting the same. Upon surrender to the Trustee of the Book-Entry Certificates by the Depository, accompanied by registration instructions from the Depository for registration of transfer, the Trustee shall issue the Definitive Certificates. In addition, if an Event of Default has occurred and is continuing, each Certificate Owner materially adversely affected thereby may at its option request a Definitive Certificate evidencing such Certificate Owner's Percentage Interest in the related Class of Certificates. In order to make such a request, such Certificate Owner shall, subject to the rules and procedures of the Depository, provide the Depository or the related Depository Participant with directions for the Certificate Registrar to exchange or cause the exchange of the Certificate Owner's interest in such Class of Certificates for an equivalent Percentage Interest in fully registered definitive form. Upon receipt by the Certificate Registrar of instructions from the Depository directing the Certificate Registrar to effect such exchange (such instructions shall contain information regarding the Class of Certificates and the Certificate Principal Balance being exchanged, the Depository Participant account to be debited with the decrease, the registered holder of and delivery instructions for the Definitive Certificate, and any other information reasonably required by the Certificate Registrar), (i) the Certificate Registrar shall instruct the Depository to reduce the related Depository Participant's account by the aggregate Certificate Principal Balance of the Definitive Certificate, (ii) the Trustee shall execute and the Certificate Registrar shall authenticate and deliver, in accordance with the registration and delivery instructions provided by the Depository, a Definitive Certificate evidencing such Certificate Owner's Percentage Interest in such Class of Certificates and (iii) the Trustee shall execute and the Certificate Registrar shall authenticate a new Book-Entry Certificate reflecting the reduction in the aggregate Certificate Principal Balance of such Class of Certificates by the Certificate Principal Balance of the Definitive Certificate. Neither the Company, the Master Servicer nor the Trustee shall be liable for any actions taken by the Depository or its nominee, including, without limitation, any delay in delivery of any instructions required under Section 5.01 and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Certificates, the Trustee and the Master Servicer shall recognize the Holders of the Definitive Certificates as Certificateholders hereunder. (c) If the Class A-V Certificates are Definitive Certificates, from time to time Residential Funding, as the initial Holder of the Class A-V Certificates, may exchange such Holder's Class A-V Certificates for Subclasses of Class A-V Certificates to be issued under this Agreement by delivering a "Request for Exchange" substantially in the form attached to this Agreement as Exhibit N executed by an authorized officer, which Subclasses, in the aggregate, will represent the Uncertificated Class A-V REMIC Regular Interests corresponding to the Class A-V Certificates so surrendered for exchange. Any Subclass so issued shall bear a numerical designation commencing with Class A-V-1 and continuing sequentially thereafter, and will evidence ownership of the Uncertificated REMIC Regular Interest or Interests specified in writing by such initial Holder to the Trustee. The Trustee may conclusively, without any independent verification, rely on, and shall be protected in relying on, Residential Funding's determinations of the Uncertificated Class A-V REMIC Regular Interests corresponding to any Subclass, the Initial Notional Amount and the initial Pass-Through Rate on a Subclass as set forth in such Request for Exchange and the Trustee shall have no duty to determine if any Uncertificated Class A-V REMIC Regular Interest designated on a Request for Exchange corresponds to a Subclass which has previously been issued. Each Subclass so issued shall be substantially in the form set forth in Exhibit A and shall, on original issue, be executed and delivered by the Trustee to the Certificate Registrar for authentication and delivery in accordance with Section 5.01(a). Every Certificate presented or surrendered for exchange by the initial Holder shall (if so required by the Trustee or the Certificate Registrar) be duly endorsed by, or be accompanied by a written instrument of transfer attached to such Certificate and shall be completed to the satisfaction of the Trustee and the Certificate Registrar duly executed by, the initial Holder thereof or his attorney duly authorized in writing. The Certificates of any Subclass of Class A-V Certificates may be transferred in whole, but not in part, in accordance with the provisions of Section 5.02. Section 5.02. Registration of Transfer and Exchange of Certificates. (a) The Trustee shall cause to be kept at one of the offices or agencies to be appointed by the Trustee in accordance with the provisions of Section 8.12 a Certificate Register in which, subject to such reasonable regulations as it may prescribe, the Trustee shall provide for the registration of Certificates and of transfers and exchanges of Certificates as herein provided. The Trustee is initially appointed Certificate Registrar for the purpose of registering Certificates and transfers and exchanges of Certificates as herein provided. The Certificate Registrar, or the Trustee, shall provide the Master Servicer with a certified list of Certificateholders as of each Record Date prior to the related Determination Date. (b) Upon surrender for registration of transfer of any Certificate at any office or agency of the Trustee maintained for such purpose pursuant to Section 8.12 and, in the case of any Class M, Class B or Class R Certificate, upon satisfaction of the conditions set forth below, the Trustee shall execute and the Certificate Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Certificates of a like Class (or Subclass) and aggregate Percentage Interest. (c) At the option of the Certificateholders, Certificates may be exchanged for other Certificates of authorized denominations of a like Class (or Subclass) and aggregate Percentage Interest, upon surrender of the Certificates to be exchanged at any such office or agency. Whenever any Certificates are so surrendered for exchange the Trustee shall execute and the Certificate Registrar shall authenticate and deliver the Certificates of such Class which the Certificateholder making the exchange is entitled to receive. Every Certificate presented or surrendered for transfer or exchange shall (if so required by the Trustee or the Certificate Registrar) be duly endorsed by, or be accompanied by a written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by, the Holder thereof or his attorney duly authorized in writing. (d) No transfer, sale, pledge or other disposition of a Class B Certificate shall be made unless such transfer, sale, pledge or other disposition is exempt from the registration requirements of the Securities Act of 1933, as amended, and any applicable state securities laws or is made in accordance with said Act and laws. In the event that a transfer of a Class B Certificate is to be made either (i)(A) the Trustee shall require a written Opinion of Counsel acceptable to and in form and substance satisfactory to the Trustee and the Company that such transfer may be made pursuant to an exemption, describing the applicable exemption and the basis therefor, from said Act and laws or is being made pursuant to said Act and laws, which Opinion of Counsel shall not be an expense of the Trustee, the Company or the Master Servicer (except that, if such transfer is made by the Company or the Master Servicer or any Affiliate thereof, the Company or the Master Servicer shall provide such Opinion of Counsel at their own expense); provided that such Opinion of Counsel will not be required in connection with the initial transfer of any such Certificate by the Company or any Affiliate thereof to the Company or an Affiliate of the Company and (B) the Trustee shall require the transferee to execute a representation letter, substantially in the form of Exhibit H hereto, and the Trustee shall require the transferor to execute a representation letter, substantially in the form of Exhibit I hereto, each acceptable to and in form and substance satisfactory to the Company and the Trustee certifying to the Company and the Trustee the facts surrounding such transfer, which representation letters shall not be an expense of the Trustee, the Company or the Master Servicer; provided, however, that such representation letters will not be required in connection with any transfer of any such Certificate by the Company or any Affiliate thereof to the Company or an Affiliate of the Company, and the Trustee shall be entitled to conclusively rely upon a representation (which, upon the request of the Trustee, shall be a written representation) from the Company, of the status of such transferee as an Affiliate of the Company or (ii) the prospective transferee of such a Certificate shall be required to provide the Trustee, the Company and the Master Servicer with an investment letter substantially in the form of Exhibit J attached hereto (or such other form as the Company in its sole discretion deems acceptable), which investment letter shall not be an expense of the Trustee, the Company or the Master Servicer, and which investment letter states that, among other things, such transferee (A) is a "qualified institutional buyer" as defined under Rule 144A, acting for its own account or the accounts of other "qualified institutional buyers" as defined under Rule 144A, and (B) is aware that the proposed transferor intends to rely on the exemption from registration requirements under the Securities Act of 1933, as amended, provided by Rule 144A. The Holder of any such Certificate desiring to effect any such transfer, sale, pledge or other disposition shall, and does hereby agree to, indemnify the Trustee, the Company, the Master Servicer and the Certificate Registrar against any liability that may result if the transfer, sale, pledge or other disposition is not so exempt or is not made in accordance with such federal and state laws. (e) (i) In the case of any Class B or Class R Certificate presented for registration in the name of any Person, either (A) the Trustee shall require an Opinion of Counsel acceptable to and in form and substance satisfactory to the Trustee, the Company and the Master Servicer to the effect that the purchase or holding of such Class B or Class R Certificate is permissible under applicable law, will not constitute or result in any non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or Section 4975 of the Code (or comparable provisions of any subsequent enactments), and will not subject the Trustee, the Company or the Master Servicer to any obligation or liability (including obligations or liabilities under ERISA or Section 4975 of the Code) in addition to those undertaken in this Agreement, which Opinion of Counsel shall not be an expense of the Trustee, the Company or the Master Servicer or (B) the prospective Transferee shall be required to provide the Trustee, the Company and the Master Servicer with a certification to the effect set forth in paragraph six of Exhibit H (with respect to any Class B Certificate) or paragraph fifteen of Exhibit G-1 (with respect to any Class R Certificate), which the Trustee may rely upon without further inquiry or investigation, or such other certifications as the Trustee may deem desirable or necessary in order to establish that such Transferee or the Person in whose name such registration is requested either (a) is not an employee benefit plan or other plan subject to the prohibited transaction provisions of ERISA or Section 4975 of the Code, or any Person (including an investment manager, a named fiduciary or a trustee of any such plan) who is using "plan assets" of any such plan to effect such acquisition (each, a "Plan Investor") or (b) in the case of any Class B Certificate, the following conditions are satisfied: (i) such Transferee is an insurance company, (ii) the source of funds used to purchase or hold such Certificate (or interest therein) is an "insurance company general account" (as defined in U.S. Department of Labor Prohibited Transaction Class Exemption ("PTCE") 95-60, and (iii) the conditions set forth in Sections I and III of PTCE 95-60 have been satisfied (each entity that satisfies this clause (b), a "Complying Insurance Company"). (ii) Any Transferee of a Class M Certificate will be deemed to have represented by virtue of its purchase or holding of such Certificate (or interest therein) that either (a) such Transferee is not a Plan Investor, (b) it has acquired and is holding such Certificate in reliance on Prohibited Transaction Exemption ("PTE") 94-29, as most recently amended, PTE 2002-41, 67 Fed. Reg. 54487 (August 22, 2002) (the "RFC Exemption"), and that it understands that there are certain conditions to the availability of the RFC Exemption including that such Certificate must be rated, at the time of purchase, not lower than "BBB-" (or its equivalent) by Standard & Poor's, Fitch or Moody's or (c) such Transferee is a Complying Insurance Company. (iii) (A) If any Class M Certificate (or any interest therein) is acquired or held by any Person that does not satisfy the conditions described in paragraph (ii) above, then the last preceding Transferee that either (i) is not a Plan Investor, (ii) acquired such Certificate in compliance with the RFC Exemption, or (iii) is a Complying Insurance Company shall be restored, to the extent permitted by law, to all rights and obligations as Certificate Owner thereof retroactive to the date of such Transfer of such Class M Certificate. The Trustee shall be under no liability to any Person for making any payments due on such Certificate to such preceding Transferee. (B) Any purported Certificate Owner whose acquisition or holding of any Class M Certificate (or interest therein) was effected in violation of the restrictions in this Section 5.02(e) shall indemnify and hold harmless the Company, the Trustee, the Master Servicer, any Subservicer, the Underwriters and the Trust Fund from and against any and all liabilities, claims, costs or expenses incurred by such parties as a result of such acquisition or holding. (f) (i) Each Person who has or who acquires any Ownership Interest in a Class R Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest to have agreed to be bound by the following provisions and to have irrevocably authorized the Trustee or its designee under clause (iii)(A) below to deliver payments to a Person other than such Person and to negotiate the terms of any mandatory sale under clause (iii)(B) below and to execute all instruments of transfer and to do all other things necessary in connection with any such sale. The rights of each Person acquiring any Ownership Interest in a Class R Certificate are expressly subject to the following provisions: (A) Each Person holding or acquiring any Ownership Interest in a Class R Certificate shall be a Permitted Transferee and shall promptly notify the Trustee of any change or impending change in its status as a Permitted Transferee. (B) In connection with any proposed Transfer of any Ownership Interest in a Class R Certificate, the Trustee shall require delivery to it, and shall not register the Transfer of any Class R Certificate until its receipt of, (I) an affidavit and agreement (a "Transfer Affidavit and Agreement," in the form attached hereto as Exhibit G-1) from the proposed Transferee, in form and substance satisfactory to the Master Servicer, representing and warranting, among other things, that it is a Permitted Transferee, that it is not acquiring its Ownership Interest in the Class R Certificate that is the subject of the proposed Transfer as a nominee, trustee or agent for any Person who is not a Permitted Transferee, that for so long as it retains its Ownership Interest in a Class R Certificate, it will endeavor to remain a Permitted Transferee, and that it has reviewed the provisions of this Section 5.02(f) and agrees to be bound by them, and (II) a certificate, in the form attached hereto as Exhibit G-2, from the Holder wishing to transfer the Class R Certificate, in form and substance satisfactory to the Master Servicer, representing and warranting, among other things, that no purpose of the proposed Transfer is to impede the assessment or collection of tax. (C) Notwithstanding the delivery of a Transfer Affidavit and Agreement by a proposed Transferee under clause (B) above, if a Responsible Officer of the Trustee who is assigned to this Agreement has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer of an Ownership Interest in a Class R Certificate to such proposed Transferee shall be effected. (D) Each Person holding or acquiring any Ownership Interest in a Class R Certificate shall agree (x) to require a Transfer Affidavit and Agreement from any other Person to whom such Person attempts to transfer its Ownership Interest in a Class R Certificate and (y) not to transfer its Ownership Interest unless it provides a certificate to the Trustee in the form attached hereto as Exhibit G-2. (E) Each Person holding or acquiring an Ownership Interest in a Class R Certificate, by purchasing an Ownership Interest in such Certificate, agrees to give the Trustee written notice that it is a "pass-through interest holder" within the meaning of Temporary Treasury Regulations Section 1.67-3T(a)(2)(i)(A) immediately upon acquiring an Ownership Interest in a Class R Certificate, if it is, or is holding an Ownership Interest in a Class R Certificate on behalf of, a "pass-through interest holder." (ii) The Trustee shall register the Transfer of any Class R Certificate only if it shall have received the Transfer Affidavit and Agreement, a certificate of the Holder requesting such transfer in the form attached hereto as Exhibit G-2 and all of such other documents as shall have been reasonably required by the Trustee as a condition to such registration. Transfers of the Class R Certificates to Non-United States Persons and Disqualified Organizations (as defined in Section 860E(e)(5) of the Code) are prohibited. (iii) (A) If any Disqualified Organization shall become a holder of a Class R Certificate, then the last preceding Permitted Transferee shall be restored, to the extent permitted by law, to all rights and obligations as Holder thereof retroactive to the date of registration of such Transfer of such Class R Certificate. If a Non-United States Person shall become a holder of a Class R Certificate, then the last preceding United States Person shall be restored, to the extent permitted by law, to all rights and obligations as Holder thereof retroactive to the date of registration of such Transfer of such Class R Certificate. If a transfer of a Class R Certificate is disregarded pursuant to the provisions of Treasury Regulations Section 1.860E-1 or Section 1.860G-3, then the last preceding Permitted Transferee shall be restored, to the extent permitted by law, to all rights and obligations as Holder thereof retroactive to the date of registration of such Transfer of such Class R Certificate. The Trustee shall be under no liability to any Person for any registration of Transfer of a Class R Certificate that is in fact not permitted by this Section 5.02(f) or for making any payments due on such Certificate to the holder thereof or for taking any other action with respect to such holder under the provisions of this Agreement. (B) If any purported Transferee shall become a Holder of a Class R Certificate in violation of the restrictions in this Section 5.02(f) and to the extent that the retroactive restoration of the rights of the Holder of such Class R Certificate as described in clause (iii)(A) above shall be invalid, illegal or unenforceable, then the Master Servicer shall have the right, without notice to the holder or any prior holder of such Class R Certificate, to sell such Class R Certificate to a purchaser selected by the Master Servicer on such terms as the Master Servicer may choose. Such purported Transferee shall promptly endorse and deliver each Class R Certificate in accordance with the instructions of the Master Servicer. Such purchaser may be the Master Servicer itself or any Affiliate of the Master Servicer. The proceeds of such sale, net of the commissions (which may include commissions payable to the Master Servicer or its Affiliates), expenses and taxes due, if any, shall be remitted by the Master Servicer to such purported Transferee. The terms and conditions of any sale under this clause (iii)(B) shall be determined in the sole discretion of the Master Servicer, and the Master Servicer shall not be liable to any Person having an Ownership Interest in a Class R Certificate as a result of its exercise of such discretion. (iv) The Master Servicer, on behalf of the Trustee, shall make available, upon written request from the Trustee, all information necessary to compute any tax imposed (A) as a result of the Transfer of an Ownership Interest in a Class R Certificate to any Person who is a Disqualified Organization, including the information regarding "excess inclusions" of such Class R Certificates required to be provided to the Internal Revenue Service and certain Persons as described in Treasury Regulations Sections 1.860D-1(b)(5) and 1.860E-2(a)(5), and (B) as a result of any regulated investment company, real estate investment trust, common trust fund, partnership, trust, estate or organization described in Section 1381 of the Code that holds an Ownership Interest in a Class R Certificate having as among its record holders at any time any Person who is a Disqualified Organization. Reasonable compensation for providing such information may be required by the Master Servicer from such Person. (v) The provisions of this Section 5.02(f) set forth prior to this clause (v) may be modified, added to or eliminated, provided that there shall have been delivered to the Trustee the following: (A) written notification from each Rating Agency to the effect that the modification, addition to or elimination of such provisions will not cause such Rating Agency to downgrade its then-current ratings, if any, of any Class of the Senior (in the case of the Insured Certificates (as defined in the Series Supplement), such determination shall be made without giving effect to the Certificate Policy (as defined in the Series Supplement)), Class M or Class B Certificates below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency; and (B) subject to Section 10.01(f), an Officers' Certificate of the Master Servicer stating that the Master Servicer has received an Opinion of Counsel, in form and substance satisfactory to the Master Servicer, to the effect that such modification, addition to or absence of such provisions will not cause any portion of any REMIC formed under the Series Supplement to cease to qualify as a REMIC and will not cause (x) any portion of any REMIC formed under the Series Supplement to be subject to an entity-level tax caused by the Transfer of any Class R Certificate to a Person that is a Disqualified Organization or (y) a Certificateholder or another Person to be subject to a REMIC-related tax caused by the Transfer of a Class R Certificate to a Person that is not a Permitted Transferee. (g) No service charge shall be made for any transfer or exchange of Certificates of any Class, but the Trustee may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Certificates. (h) All Certificates surrendered for transfer and exchange shall be destroyed by the Certificate Registrar. Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates. If (i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Trustee and the Certificate Registrar receive evidence to their satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Trustee and the Certificate Registrar such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Trustee or the Certificate Registrar that such Certificate has been acquired by a bona fide purchaser, the Trustee shall execute and the Certificate Registrar shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor, Class and Percentage Interest but bearing a number not contemporaneously outstanding. Upon the issuance of any new Certificate under this Section, the Trustee may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee and the Certificate Registrar) connected therewith. Any duplicate Certificate issued pursuant to this Section shall constitute complete and indefeasible evidence of ownership in the Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time. Section 5.04. Persons Deemed Owners. Prior to due presentation of a Certificate for registration of transfer, the Company, the Master Servicer, the Trustee, any Certificate Insurer, the Certificate Registrar and any agent of the Company, the Master Servicer, the Trustee, any Certificate Insurer or the Certificate Registrar may treat the Person in whose name any Certificate is registered as the owner of such Certificate for the purpose of receiving distributions pursuant to Section 4.02 and for all other purposes whatsoever, except as and to the extent provided in the definition of "Certificateholder," and neither the Company, the Master Servicer, the Trustee, any Certificate Insurer, the Certificate Registrar nor any agent of the Company, the Master Servicer, the Trustee, any Certificate Insurer or the Certificate Registrar shall be affected by notice to the contrary except as provided in Section 5.02(f). Section 5.05. Appointment of Paying Agent. The Trustee may appoint a Paying Agent for the purpose of making distributions to the Certificateholders pursuant to Section 4.02. In the event of any such appointment, on or prior to each Distribution Date the Master Servicer on behalf of the Trustee shall deposit or cause to be deposited with the Paying Agent a sum sufficient to make the payments to the Certificateholders in the amounts and in the manner provided for in Section 4.02, such sum to be held in trust for the benefit of the Certificateholders. The Trustee shall cause each Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee that such Paying Agent shall hold all sums held by it for the payment to the Certificateholders in trust for the benefit of the Certificateholders entitled thereto until such sums shall be distributed to such Certificateholders. Any sums so held by such Paying Agent shall be held only in Eligible Accounts to the extent such sums are not distributed to the Certificateholders on the date of receipt by such Paying Agent. Section 5.06. U.S.A. Patriot Act Compliance. To help fight the funding of terrorism and money laundering activities, the Trustee will obtain, verify and record information that identifies individuals or entities that establish a relationship or open an account with the Trustee. The Trustee will ask for the name, address, tax identification number and other information that will allow the Trustee to identify the individual or entity who is establishing the relationship or opening the account. The Trustee may also ask for formation documents such as articles of incorporation, an offering memorandum, or other identifying documents to be provided.
ARTICLE VI THE COMPANY AND THE MASTER SERVICER Section 6.01. Respective Liabilities of the Company and the Master Servicer. The Company and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by the Company and the Master Servicer herein. By way of illustration and not limitation, the Company is not liable for the servicing and administration of the Mortgage Loans, nor is it obligated by Section 7.01 or Section 10.01 to assume any obligations of the Master Servicer or to appoint a designee to assume such obligations, nor is it liable for any other obligation hereunder that it may, but is not obligated to, assume unless it elects to assume such obligation in accordance herewith. Section 6.02. Merger or Consolidation of the Company or the Master Servicer; Assignment of Rights and Delegation of Duties by Master Servicer. (a) The Company and the Master Servicer shall each keep in full effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and shall each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the Certificates or any of the Mortgage Loans and to perform its respective duties under this Agreement. (b) Any Person into which the Company or the Master Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Company or the Master Servicer shall be a party, or any Person succeeding to the business of the Company or the Master Servicer, shall be the successor of the Company or the Master Servicer, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving Person to the Master Servicer shall be qualified to service mortgage loans on behalf of Fannie Mae or Freddie Mac; and provided further that each Rating Agency's ratings, if any, of the Senior (in the case of the Insured Certificates (as defined in the Series Supplement), such determination shall be made without giving effect to the Certificate Policy (as defined in the Series Supplement)), Class M or Class B Certificates in effect immediately prior to such merger or consolidation will not be qualified, reduced or withdrawn as a result thereof (as evidenced by a letter to such effect from each Rating Agency). (c) Notwithstanding anything else in this Section 6.02 and Section 6.04 to the contrary, the Master Servicer may assign its rights and delegate its duties and obligations under this Agreement; provided that the Person accepting such assignment or delegation shall be a Person which is qualified to service mortgage loans on behalf of Fannie Mae or Freddie Mac, is reasonably satisfactory to the Trustee and the Company, is willing to service the Mortgage Loans and executes and delivers to the Company and the Trustee an agreement, in form and substance reasonably satisfactory to the Company and the Trustee, which contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition to be performed or observed by the Master Servicer under this Agreement; provided further that each Rating Agency's rating of the Classes of Certificates (in the case of the Insured Certificates (as defined in the Series Supplement), such determination shall be made without giving effect to the Certificate Policy (as defined in the Series Supplement)) that have been rated in effect immediately prior to such assignment and delegation will not be qualified, reduced or withdrawn as a result of such assignment and delegation (as evidenced by a letter to such effect from each Rating Agency). In the case of any such assignment and delegation, the Master Servicer shall be released from its obligations under this Agreement, except that the Master Servicer shall remain liable for all liabilities and obligations incurred by it as Master Servicer hereunder prior to the satisfaction of the conditions to such assignment and delegation set forth in the next preceding sentence. Section 6.03. Limitation on Liability of the Company, the Master Servicer and Others. Neither the Company, the Master Servicer nor any of the directors, officers, employees or agents of the Company or the Master Servicer shall be under any liability to the Trust Fund or the Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Company, the Master Servicer or any such Person against any breach of warranties or representations made herein or any liability which would otherwise be imposed by reason of willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder. The Company, the Master Servicer and any director, officer, employee or agent of the Company or the Master Servicer may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Company, the Master Servicer and any director, officer, employee or agent of the Company or the Master Servicer shall be indemnified by the Trust Fund and held harmless against any loss, liability or expense incurred in connection with any legal action relating to this Agreement or the Certificates, other than any loss, liability or expense related to any specific Mortgage Loan or Mortgage Loans (except as any such loss, liability or expense shall be otherwise reimbursable pursuant to this Agreement) and any loss, liability or expense incurred by reason of willful misfeasance, bad faith or gross negligence in the performance of duties hereunder or by reason of reckless disregard of obligations and duties hereunder. Neither the Company nor the Master Servicer shall be under any obligation to appear in, prosecute or defend any legal or administrative action, proceeding, hearing or examination that is not incidental to its respective duties under this Agreement and which in its opinion may involve it in any expense or liability; provided, however, that the Company or the Master Servicer may in its discretion undertake any such action, proceeding, hearing or examination that it may deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders hereunder. In such event, the legal expenses and costs of such action, proceeding, hearing or examination and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund, and the Company and the Master Servicer shall be entitled to be reimbursed therefor out of amounts attributable to the Mortgage Loans on deposit in the Custodial Account as provided by Section 3.10 and, on the Distribution Date(s) following such reimbursement, the aggregate of such expenses and costs shall be allocated in reduction of the Accrued Certificate Interest on each Class entitled thereto in the same manner as if such expenses and costs constituted a Prepayment Interest Shortfall. Section 6.04. Company and Master Servicer Not to Resign. Subject to the provisions of Section 6.02, neither the Company nor the Master Servicer shall resign from its respective obligations and duties hereby imposed on it except upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination permitting the resignation of the Company or the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until the Trustee or a successor servicer shall have assumed the Master Servicer's responsibilities and obligations in accordance with Section 7.02.
ARTICLE VII DEFAULT Section 7.01. Events of Default. Event of Default, wherever used herein, means any one of the following events (whatever reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): (i) the Master Servicer shall fail to deposit or cause to be deposited into the Certificate Account any amounts required to be so deposited therein at the time required pursuant to Section 4.01 or otherwise or the Master Servicer shall fail to distribute or cause to be distributed to the Holders of Certificates of any Class any distribution required to be made under the terms of the Certificates of such Class and this Agreement and, in each case, such failure shall continue unremedied for a period of 5 days after the date upon which written notice of such failure, requiring such failure to be remedied, shall have been given to the Master Servicer by the Trustee or the Company or to the Master Servicer, the Company and the Trustee by the Holders of Certificates of such Class evidencing Percentage Interests aggregating not less than 25%; or (ii) the Master Servicer shall fail to observe or perform in any material respect any other of the covenants or agreements on the part of the Master Servicer contained in the Certificates of any Class or in this Agreement and such failure shall continue unremedied for a period of 30 days (except that such number of days shall be 15 in the case of a failure to pay the premium for any Required Insurance Policy) after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Master Servicer by the Trustee or the Company, or to the Master Servicer, the Company and the Trustee by the Holders of Certificates of any Class evidencing, in the case of any such Class, Percentage Interests aggregating not less than 25%; or (iii) a decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law or appointing a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Master Servicer and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days; or (iv) the Master Servicer shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities, or similar proceedings of, or relating to, the Master Servicer or of, or relating to, all or substantially all of the property of the Master Servicer; or (v) the Master Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of, or commence a voluntary case under, any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations; or (vi) the Master Servicer shall notify the Trustee pursuant to Section 4.04(b) that it is unable to deposit in the Certificate Account an amount equal to the Advance. If an Event of Default described in clauses (i)-(v) of this Section shall occur, then, and in each and every such case, so long as such Event of Default shall not have been remedied, either the Company or the Trustee may, and at the direction of Holders of Certificates entitled to at least 51% of the Voting Rights, the Trustee shall, by notice in writing to the Master Servicer (and to the Company if given by the Trustee or to the Trustee if given by the Company), terminate all of the rights and obligations of the Master Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof, other than its rights as a Certificateholder hereunder. If an Event of Default described in clause (vi) hereof shall occur, the Trustee shall, by notice to the Master Servicer and the Company, immediately terminate all of the rights and obligations of the Master Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof, other than its rights as a Certificateholder hereunder as provided in Section 4.04(b). On or after the receipt by the Master Servicer of such written notice, all authority and power of the Master Servicer under this Agreement, whether with respect to the Certificates (other than as a Holder thereof) or the Mortgage Loans or otherwise, shall subject to Section 7.02 pass to and be vested in the Trustee or the Trustee's designee appointed pursuant to Section 7.02; and, without limitation, the Trustee is hereby authorized and empowered to execute and deliver, on behalf of the Master Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents, or otherwise. The Master Servicer agrees to cooperate with the Trustee in effecting the termination of the Master Servicer's responsibilities and rights hereunder, including, without limitation, the transfer to the Trustee or its designee for administration by it of all cash amounts which shall at the time be credited to the Custodial Account or the Certificate Account or thereafter be received with respect to the Mortgage Loans. No such termination shall release the Master Servicer for any liability that it would otherwise have hereunder for any act or omission prior to the effective time of such termination. Notwithstanding any termination of the activities of Residential Funding in its capacity as Master Servicer hereunder, Residential Funding shall be entitled to receive, out of any late collection of a Monthly Payment on a Mortgage Loan which was due prior to the notice terminating Residential Funding's rights and obligations as Master Servicer hereunder and received after such notice, that portion to which Residential Funding would have been entitled pursuant to Sections 3.10(a)(ii), (vi) and (vii) as well as its Servicing Fee in respect thereof, and any other amounts payable to Residential Funding hereunder the entitlement to which arose prior to the termination of its activities hereunder. Upon the termination of Residential Funding as Master Servicer hereunder the Company shall deliver to the Trustee a copy of the Program Guide. Section 7.02. Trustee or Company to Act; Appointment of Successor. (a) On and after the time the Master Servicer receives a notice of termination pursuant to Section 7.01 or resigns in accordance with Section 6.04, the Trustee or, upon notice to the Company and with the Company's consent (which shall not be unreasonably withheld) a designee (which meets the standards set forth below) of the Trustee, shall be the successor in all respects to the Master Servicer in its capacity as servicer under this Agreement and the transactions set forth or provided for herein and shall be subject to all the responsibilities, duties and liabilities relating thereto placed on the Master Servicer (except for the responsibilities, duties and liabilities contained in Sections 2.02 and 2.03(a), excluding the duty to notify related Subservicers or Sellers as set forth in such Sections, and its obligations to deposit amounts in respect of losses incurred prior to such notice or termination on the investment of funds in the Custodial Account or the Certificate Account pursuant to Sections 3.07(c) and 4.01(b) by the terms and provisions hereof); provided, however, that any failure to perform such duties or responsibilities caused by the preceding Master Servicer's failure to provide information required by Section 4.04 shall not be considered a default by the Trustee hereunder. As compensation therefor, the Trustee shall be entitled to all funds relating to the Mortgage Loans which the Master Servicer would have been entitled to charge to the Custodial Account or the Certificate Account if the Master Servicer had continued to act hereunder and, in addition, shall be entitled to the income from any Permitted Investments made with amounts attributable to the Mortgage Loans held in the Custodial Account or the Certificate Account. If the Trustee has become the successor to the Master Servicer in accordance with Section 6.04 or Section 7.01, then notwithstanding the above, the Trustee may, if it shall be unwilling to so act, or shall, if it is unable to so act, appoint, or petition a court of competent jurisdiction to appoint, any established housing and home finance institution, which is also a Fannie Mae- or Freddie Mac-approved mortgage servicing institution, having a net worth of not less than $10,000,000 as the successor to the Master Servicer hereunder in the assumption of all or any part of the responsibilities, duties or liabilities of the Master Servicer hereunder. Pending appointment of a successor to the Master Servicer hereunder, the Trustee shall become successor to the Master Servicer and shall act in such capacity as hereinabove provided. In connection with such appointment and assumption, the Trustee may make such arrangements for the compensation of such successor out of payments on Mortgage Loans as it and such successor shall agree; provided, however, that no such compensation shall be in excess of that permitted the initial Master Servicer hereunder. The Company, the Trustee, the Custodian and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession. The Servicing Fee for any successor Master Servicer appointed pursuant to this Section 7.02 will be lowered with respect to those Mortgage Loans, if any, where the Subservicing Fee accrues at a rate of less than 0.20% per annum in the event that the successor Master Servicer is not servicing such Mortgage Loans directly and it is necessary to raise the related Subservicing Fee to a rate of 0.20% per annum in order to hire a Subservicer with respect to such Mortgage Loans. (b) In connection with the termination or resignation of the Master Servicer hereunder, either (i) the successor Master Servicer, including the Trustee if the Trustee is acting as successor Master Servicer, shall represent and warrant that it is a member of MERS in good standing and shall agree to comply in all material respects with the rules and procedures of MERS in connection with the servicing of the Mortgage Loans that are registered with MERS, in which case the predecessor Master Servicer shall cooperate with the successor Master Servicer in causing MERS to revise its records to reflect the transfer of servicing to the successor Master Servicer as necessary under MERS' rules and regulations, or (ii) the predecessor Master Servicer shall cooperate with the successor Master Servicer in causing MERS to execute and deliver an assignment of Mortgage in recordable form to transfer the Mortgage from MERS to the Trustee and to execute and deliver such other notices, documents and other instruments as may be necessary or desirable to effect a transfer of such Mortgage Loan or servicing of such Mortgage Loan on the MERS(R)System to the successor Master Servicer. The predecessor Master Servicer shall file or cause to be filed any such assignment in the appropriate recording office. The predecessor Master Servicer shall bear any and all fees of MERS, costs of preparing any assignments of Mortgage, and fees and costs of filing any assignments of Mortgage that may be required under this subsection (b). The successor Master Servicer shall cause such assignment to be delivered to the Trustee or the Custodian promptly upon receipt of the original with evidence of recording thereon or a copy certified by the public recording office in which such assignment was recorded. Section 7.03. Notification to Certificateholders. (a) Upon any such termination or appointment of a successor to the Master Servicer, the Trustee shall give prompt written notice thereof to the Certificateholders at their respective addresses appearing in the Certificate Register. (b) Within 60 days after the occurrence of any Event of Default, the Trustee shall transmit by mail to all Holders of Certificates notice of each such Event of Default hereunder known to the Trustee, unless such Event of Default shall have been cured or waived. Section 7.04. Waiver of Events of Default. The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.
ARTICLE VIII CONCERNING THE TRUSTEE Section 8.01. Duties of Trustee. (a) The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent investor would exercise or use under the circumstances in the conduct of such investor's own affairs. (b) The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform to the requirements of this Agreement. The Trustee shall notify the Certificateholders of any such documents which do not materially conform to the requirements of this Agreement in the event that the Trustee, after so requesting, does not receive satisfactorily corrected documents. The Trustee shall forward or cause to be forwarded in a timely fashion the notices, reports and statements required to be forwarded by the Trustee pursuant to Sections 4.03, 4.06, 7.03 and 10.01. The Trustee shall furnish in a timely fashion to the Master Servicer such information as the Master Servicer may reasonably request from time to time for the Master Servicer to fulfill its duties as set forth in this Agreement. The Trustee covenants and agrees that it shall perform its obligations hereunder in a manner so as to maintain the status of any portion of any REMIC formed under the Series Supplement as a REMIC under the REMIC Provisions and (subject to Section 10.01(f)) to prevent the imposition of any federal, state or local income, prohibited transaction, contribution or other tax on the Trust Fund to the extent that maintaining such status and avoiding such taxes are reasonably within the control of the Trustee and are reasonably within the scope of its duties under this Agreement. (c) No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that: (i) Prior to the occurrence of an Event of Default, and after the curing or waiver of all such Events of Default which may have occurred, the duties and obligations of the Trustee shall be determined solely by the express provisions of this Agreement, the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read into this Agreement against the Trustee and, in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee by the Company or the Master Servicer and which on their face, do not contradict the requirements of this Agreement; (ii) The Trustee shall not be personally liable for an error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; (iii) The Trustee shall not be personally liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of Certificateholders of any Class holding Certificates which evidence, as to such Class, Percentage Interests aggregating not less than 25% as to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Agreement; (iv) The Trustee shall not be charged with knowledge of any default (other than a default in payment to the Trustee) specified in clauses (i) and (ii) of Section 7.01 or an Event of Default under clauses (iii), (iv) and (v) of Section 7.01 unless a Responsible Officer of the Trustee assigned to and working in the Corporate Trust Office obtains actual knowledge of such failure or event or the Trustee receives written notice of such failure or event at its Corporate Trust Office from the Master Servicer, the Company or any Certificateholder; and (v) Except to the extent provided in Section 7.02, no provision in this Agreement shall require the Trustee to expend or risk its own funds (including, without limitation, the making of any Advance) or otherwise incur any personal financial liability in the performance of any of its duties as Trustee hereunder, or in the exercise of any of its rights or powers, if the Trustee shall have reasonable grounds for believing that repayment of funds or adequate indemnity against such risk or liability is not reasonably assured to it. (d) The Trustee shall timely pay, from its own funds, the amount of any and all federal, state and local taxes imposed on the Trust Fund or its assets or transactions including, without limitation, (A) "prohibited transaction" penalty taxes as defined in Section 860F of the Code, if, when and as the same shall be due and payable, (B) any tax on contributions to a REMIC after the Closing Date imposed by Section 860G(d) of the Code and (C) any tax on "net income from foreclosure property" as defined in Section 860G(c) of the Code, but only if such taxes arise out of a breach by the Trustee of its obligations hereunder, which breach constitutes negligence or willful misconduct of the Trustee. Section 8.02. Certain Matters Affecting the Trustee. (a) Except as otherwise provided in Section 8.01: (i) The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, Officers' Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; (ii) The Trustee may consult with counsel and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such Opinion of Counsel; (iii) The Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Agreement or to institute, conduct or defend any litigation hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement, unless such Certificateholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which may be incurred therein or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of Default (which has not been cured or waived), to exercise such of the rights and powers vested in it by this Agreement, and to use the same degree of care and skill in their exercise as a prudent investor would exercise or use under the circumstances in the conduct of such investor's own affairs; (iv) The Trustee shall not be personally liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement; (v) Prior to the occurrence of an Event of Default hereunder and after the curing or waiver of all Events of Default which may have occurred, the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing so to do by Holders of Certificates of any Class evidencing, as to such Class, Percentage Interests, aggregating not less than 50%; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Agreement, the Trustee may require reasonable indemnity against such expense or liability as a condition to so proceeding. The reasonable expense of every such examination shall be paid by the Master Servicer, if an Event of Default shall have occurred and is continuing, and otherwise by the Certificateholder requesting the investigation; (vi) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys; and (vii) To the extent authorized under the Code and the regulations promulgated thereunder, each Holder of a Class R Certificate hereby irrevocably appoints and authorizes the Trustee to be its attorney-in-fact for purposes of signing any Tax Returns required to be filed on behalf of the Trust Fund. The Trustee shall sign on behalf of the Trust Fund and deliver to the Master Servicer in a timely manner any Tax Returns prepared by or on behalf of the Master Servicer that the Trustee is required to sign as determined by the Master Servicer pursuant to applicable federal, state or local tax laws, provided that the Master Servicer shall indemnify the Trustee for signing any such Tax Returns that contain errors or omissions. (b) Following the issuance of the Certificates, the Trustee shall not accept any contribution of assets to the Trust Fund unless (subject to Section 10.01(f)) it shall have obtained or been furnished with an Opinion of Counsel to the effect that such contribution will not (i) cause any portion of any REMIC formed under the Series Supplement to fail to qualify as a REMIC at any time that any Certificates are outstanding or (ii) cause the Trust Fund to be subject to any federal tax as a result of such contribution (including the imposition of any federal tax on "prohibited transactions" imposed under Section 860F(a) of the Code). Section 8.03. Trustee Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in the Certificates (other than the execution of the Certificates and relating to the acceptance and receipt of the Mortgage Loans) shall be taken as the statements of the Company or the Master Servicer as the case may be, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Agreement or of the Certificates (except that the Certificates shall be duly and validly executed and authenticated by it as Certificate Registrar) or of any Mortgage Loan or related document, or of MERS or the MERS(R) System. Except as otherwise provided herein, the Trustee shall not be accountable for the use or application by the Company or the Master Servicer of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Company or the Master Servicer in respect of the Mortgage Loans or deposited in or withdrawn from the Custodial Account or the Certificate Account by the Company or the Master Servicer. Section 8.04. Trustee May Own Certificates. The Trustee in its individual or any other capacity may become the owner or pledgee of Certificates with the same rights it would have if it were not Trustee. Section 8.05. Master Servicer to Pay Trustee's Fees and Expenses; Indemnification. (a) The Master Servicer covenants and agrees to pay to the Trustee and any co-trustee from time to time, and the Trustee and any co-trustee shall be entitled to, reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by each of them in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee and any co-trustee, and the Master Servicer will pay or reimburse the Trustee and any co-trustee upon request for all reasonable expenses, disbursements and advances incurred or made by the Trustee or any co-trustee in accordance with any of the provisions of this Agreement (including the reasonable compensation and the expenses and disbursements of its counsel and of all persons not regularly in its employ, and the expenses incurred by the Trustee or any co-trustee in connection with the appointment of an office or agency pursuant to Section 8.12) except any such expense, disbursement or advance as may arise from its negligence or bad faith. (b) The Master Servicer agrees to indemnify the Trustee for, and to hold the Trustee harmless against, any loss, liability or expense incurred without negligence or willful misconduct on the Trustee's part, arising out of, or in connection with, the acceptance and administration of the Trust Fund, including the costs and expenses (including reasonable legal fees and expenses) of defending itself against any claim in connection with the exercise or performance of any of its powers or duties under this Agreement and the Custodial Agreement, including, without limitation, all costs, liabilities and expenses (including reasonable legal fees and expenses) of investigating and defending itself against any claim, action or proceeding, pending or threatened, relating to the provisions of this paragraph, provided that: (i) with respect to any such claim, the Trustee shall have given the Master Servicer written notice thereof promptly after the Trustee shall have actual knowledge thereof; (ii) while maintaining control over its own defense, the Trustee shall cooperate and consult fully with the Master Servicer in preparing such defense; and (iii) notwithstanding anything in this Agreement to the contrary, the Master Servicer shall not be liable for settlement of any claim by the Trustee entered into without the prior consent of the Master Servicer which consent shall not be unreasonably withheld. No termination of this Agreement shall affect the obligations created by this Section 8.05(b) of the Master Servicer to indemnify the Trustee under the conditions and to the extent set forth herein. Notwithstanding the foregoing, the indemnification provided by the Master Servicer in this Section 8.05(b) shall not pertain to any loss, liability or expense of the Trustee, including the costs and expenses of defending itself against any claim, incurred in connection with any actions taken by the Trustee at the direction of the Certificateholders pursuant to the terms of this Agreement. Section 8.06. Eligibility Requirements for Trustee. The Trustee hereunder shall at all times be a corporation or a national banking association having its principal office in a state and city acceptable to the Company and organized and doing business under the laws of such state or the United States of America, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority. If such corporation or national banking association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 8.07. Section 8.07. Resignation and Removal of the Trustee. (a) The Trustee may at any time resign and be discharged from the trusts hereby created by giving written notice thereof to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor trustee. (b) If at any time the Trustee shall cease to be eligible in accordance with the provisions of Section 8.06 and shall fail to resign after written request therefor by the Company, or if at any time the Trustee shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then the Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee. In addition, in the event that the Company determines that the Trustee has failed (i) to distribute or cause to be distributed to the Certificateholders any amount required to be distributed hereunder, if such amount is held by the Trustee or its Paying Agent (other than the Master Servicer or the Company) for distribution or (ii) to otherwise observe or perform in any material respect any of its covenants, agreements or obligations hereunder, and such failure shall continue unremedied for a period of 5 days (in respect of clause (i) above) or 30 days (in respect of clause (ii) above other than any failure to comply with the provisions of Article XII, in which case no notice or grace period shall be applicable) after the date on which written notice of such failure, requiring that the same be remedied, shall have been given to the Trustee by the Company, then the Company may remove the Trustee and appoint a successor trustee by written instrument delivered as provided in the preceding sentence. In connection with the appointment of a successor trustee pursuant to the preceding sentence, the Company shall, on or before the date on which any such appointment becomes effective, obtain from each Rating Agency written confirmation that the appointment of any such successor trustee will not result in the reduction of the ratings on any class of the Certificates below the lesser of the then current or original ratings on such Certificates. (c) The Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in triplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Company, one complete set to the Trustee so removed and one complete set to the successor so appointed. (d) Any resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided in Section 8.08. Section 8.08. Successor Trustee. (a) Any successor trustee appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor trustee shall become effective and such successor trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee herein. The predecessor trustee shall deliver to the successor trustee all Mortgage Files and related documents and statements held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which shall become the agent of any successor trustee hereunder), and the Company, the Master Servicer and the predecessor trustee shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee all such rights, powers, duties and obligations. (b) No successor trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 8.06. (c) Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall mail notice of the succession of such trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Company fails to mail such notice within 10 days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Company. Section 8.09. Merger or Consolidation of Trustee. Any corporation or national banking association into which the Trustee may be merged or converted or with which it may be consolidated or any corporation or national banking association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or national banking association succeeding to the business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation or national banking association shall be eligible under the provisions of Section 8.06, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. The Trustee shall mail notice of any such merger or consolidation to the Certificateholders at their address as shown in the Certificate Register. Section 8.10. Appointment of Co-Trustee or Separate Trustee. (a) Notwithstanding any other provisions hereof, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at the time be located, the Master Servicer and the Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Trustee to act as co-trustee or co-trustees, jointly with the Trustee, or separate trustee or separate trustees, of all or any part of the Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof, and, subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the Master Servicer and the Trustee may consider necessary or desirable. If the Master Servicer shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, or in case an Event of Default shall have occurred and be continuing, the Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 8.06 hereunder and no notice to Holders of Certificates of the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 8.08 hereof. (b) In the case of any appointment of a co-trustee or separate trustee pursuant to this Section 8.10 all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee, and such separate trustee or co-trustee jointly, except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer hereunder), the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Trust Fund or any portion thereof in any such jurisdiction) shall be exercised and performed by such separate trustee or co-trustee at the direction of the Trustee. (c) Any notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article VIII. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Trustee. Every such instrument shall be filed with the Trustee. (d) Any separate trustee or co-trustee may, at any time, constitute the Trustee, its agent or attorney-in-fact, with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. Section 8.11. Appointment of Custodians. The Trustee may, with the consent of the Master Servicer and the Company, appoint one or more Custodians who are not Affiliates of the Company, the Master Servicer or any Seller to hold all or a portion of the Mortgage Files as agent for the Trustee, by entering into a Custodial Agreement. Subject to Article VIII, the Trustee agrees to comply with the terms of each Custodial Agreement and to enforce the terms and provisions thereof against the Custodian for the benefit of the Certificateholders. Each Custodian shall be a depository institution subject to supervision by federal or state authority, shall have a combined capital and surplus of at least $15,000,000 and shall be qualified to do business in the jurisdiction in which it holds any Mortgage File. Each Custodial Agreement may be amended only as provided in Section 11.01. The Trustee shall notify the Certificateholders of the appointment of any Custodian (other than the Custodian appointed as of the Closing Date) pursuant to this Section 8.11. Section 8.12. Appointment of Office or Agency. The Trustee will maintain an office or agency in the United States at the address designated in Section 11.05 of the Series Supplement where Certificates may be surrendered for registration of transfer or exchange. The Trustee will maintain an office at the address stated in Section 11.05 of the Series Supplement where notices and demands to or upon the Trustee in respect of this Agreement may be served.
ARTICLE IX TERMINATION OR OPTIONAL PURCHASE OF ALL CERTIFICATES Section 9.01. Optional Purchase by the Master Servicer of All Certificates; Termination Upon Purchase by the Master Servicer or Liquidation of All Mortgage Loans (a) Subject to Section 9.02, the respective obligations and responsibilities of the Company, the Master Servicer and the Trustee created hereby in respect of the Certificates (other than the obligation of the Trustee to make certain payments after the Final Distribution Date to Certificateholders and the obligation of the Company to send certain notices as hereinafter set forth) shall terminate upon the last action required to be taken by the Trustee on the Final Distribution Date pursuant to this Article IX following the earlier of: (i) the later of the final payment or other liquidation (or any Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan, or (ii) the purchase by the Master Servicer of all Mortgage Loans and all property acquired in respect of any Mortgage Loan remaining in the Trust Fund at a price equal to 100% of the unpaid principal balance of each Mortgage Loan or, if less than such unpaid principal balance, the fair market value of the related underlying property of such Mortgage Loan with respect to Mortgage Loans as to which title has been acquired if such fair market value is less than such unpaid principal balance (net of any unreimbursed Advances attributable to principal) on the day of repurchase plus accrued interest thereon at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of any Modified Mortgage Loan) to, but not including, the first day of the month in which such repurchase price is distributed, provided, however, that in no event shall the trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late ambassador of the United States to the Court of St. James, living on the date hereof and provided further that the purchase price set forth above shall be increased as is necessary, as determined by the Master Servicer, to avoid disqualification of any portion of any REMIC formed under the Series Supplement as a REMIC. The purchase price paid by the Master Servicer shall also include any amounts owed by Residential Funding pursuant to the last paragraph of Section 4 of the Assignment Agreement in respect of any liability, penalty or expense that resulted from a breach of the Compliance With Laws Representation, that remain unpaid on the date of such purchase. The right of the Master Servicer to purchase all the assets of the Trust Fund pursuant to clause (ii) above is conditioned upon the Pool Stated Principal Balance as of the Final Distribution Date, prior to giving effect to distributions to be made on such Distribution Date, being less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans. If such right is exercised by the Master Servicer, the Master Servicer shall be deemed to have been reimbursed for the full amount of any unreimbursed Advances theretofore made by it with respect to the Mortgage Loans. In addition, the Master Servicer shall provide to the Trustee the certification required by Section 3.15 and the Trustee and any Custodian shall, promptly following payment of the purchase price, release to the Master Servicer the Mortgage Files pertaining to the Mortgage Loans being purchased. In addition to the foregoing, on any Distribution Date on which the Pool Stated Principal Balance, prior to giving effect to distributions to be made on such Distribution Date, is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans, the Master Servicer shall have the right, at its option, to purchase the Certificates in whole, but not in part, at a price equal to the outstanding Certificate Principal Balance of such Certificates plus the sum of Accrued Certificate Interest thereon for the related Interest Accrual Period and any previously unpaid Accrued Certificate Interest. If the Master Servicer exercises this right to purchase the outstanding Certificates, the Master Servicer will promptly terminate the respective obligations and responsibilities created hereby in respect of the Certificates pursuant to this Article IX. (b) The Master Servicer shall give the Trustee not less than 40 days' prior notice of the Distribution Date on which the Master Servicer anticipates that the final distribution will be made to Certificateholders (whether as a result of the exercise by the Master Servicer of its right to purchase the assets of the Trust Fund or otherwise) or on which the Master Servicer anticipates that the Certificates will be purchased (as a result of the exercise by the Master Servicer to purchase the outstanding Certificates). Notice of any termination specifying the anticipated Final Distribution Date (which shall be a date that would otherwise be a Distribution Date) upon which the Certificateholders may surrender their Certificates to the Trustee (if so required by the terms hereof) for payment of the final distribution and cancellation or notice of any purchase of the outstanding Certificates, specifying the Distribution Date upon which the Holders may surrender their Certificates to the Trustee for payment, shall be given promptly by the Master Servicer (if it is exercising its right to purchase the assets of the Trust Fund or to purchase the outstanding Certificates), or by the Trustee (in any other case) by letter. Such notice shall be prepared by the Master Servicer (if it is exercising its right to purchase the assets of the Trust Fund or to purchase the outstanding Certificates), or by the Trustee (in any other case) and mailed by the Trustee to the Certificateholders not earlier than the 15th day and not later than the 25th day of the month next preceding the month of such final distribution specifying: (iii) the anticipated Final Distribution Date upon which final payment of the Certificates is anticipated to be made upon presentation and surrender of Certificates at the office or agency of the Trustee therein designated where required pursuant to this Agreement or, in the case of the purchase by the Master Servicer of the outstanding Certificates, the Distribution Date on which such purchase is to be made, (iv) the amount of any such final payment, or in the case of the purchase of the outstanding Certificates, the purchase price, in either case, if known, and (v) that the Record Date otherwise applicable to such Distribution Date is not applicable, and in the case of the Senior Certificates, or in the case of all of the Certificates in connection with the exercise by the Master Servicer of its right to purchase the Certificates, that payment will be made only upon presentation and surrender of the Certificates at the office or agency of the Trustee therein specified. If the Master Servicer is obligated to give notice to Certificateholders as aforesaid, it shall give such notice to the Certificate Registrar at the time such notice is given to Certificateholders and, if the Master Servicer is exercising its rights to purchase the outstanding Certificates, it shall give such notice to each Rating Agency at the time such notice is given to Certificateholders. As a result of the exercise by the Master Servicer of its right to purchase the assets of the Trust Fund, the Master Servicer shall deposit in the Certificate Account, before the Final Distribution Date in immediately available funds an amount equal to the purchase price for the assets of the Trust Fund, computed as provided above. As a result of the exercise by the Master Servicer of its right to purchase the outstanding Certificates, the Master Servicer shall deposit in an Eligible Account, established by the Master Servicer on behalf of the Trustee and separate from the Certificate Account in the name of the Trustee in trust for the registered holders of the Certificates, before the Distribution Date on which such purchase is to occur in immediately available funds an amount equal to the purchase price for the Certificates, computed as above provided, and provide notice of such deposit to the Trustee. The Trustee will withdraw from such account the amount specified in subsection (c) below. (b) In the case of the Senior Certificates, upon presentation and surrender of the Certificates by the Certificateholders thereof, and in the case of the Class M and Class B Certificates, upon presentation and surrender of the Certificates by the Certificateholders thereof in connection with the exercise by the Master Servicer of its right to purchase the Certificates, and otherwise in accordance with Section 4.01(a), the Trustee shall distribute to the Certificateholders (i) the amount otherwise distributable on such Distribution Date, if not in connection with the Master Servicer's election to repurchase the assets of the Trust Fund or the outstanding Certificates, or (ii) if the Master Servicer elected to so repurchase the assets of the Trust Fund or the outstanding Certificates, an amount determined as follows: (A) with respect to each Certificate the outstanding Certificate Principal Balance thereof, plus Accrued Certificate Interest for the related Interest Accrual Period thereon and any previously unpaid Accrued Certificate Interest, subject to the priority set forth in Section 4.02(a), and (B) with respect to the Class R Certificates, any excess of the amounts available for distribution (including the repurchase price specified in clause (ii) of subsection (a) of this Section) over the total amount distributed under the immediately preceding clause (A). Notwithstanding the reduction of the Certificate Principal Balance of any Class of Subordinate Certificates to zero, such Class will be outstanding hereunder until the termination of the respective obligations and responsibilities of the Company, the Master Servicer and the Trustee hereunder in accordance with Article IX. (c) If any Certificateholders shall not surrender their Certificates for final payment and cancellation on or before the Final Distribution Date (if so required by the terms hereof), the Trustee shall on such date cause all funds in the Certificate Account not distributed in final distribution to Certificateholders to be withdrawn therefrom and credited to the remaining Certificateholders by depositing such funds in a separate escrow account for the benefit of such Certificateholders, and the Master Servicer (if it exercised its right to purchase the assets of the Trust Fund), or the Trustee (in any other case) shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within six months after the second notice any Certificate shall not have been surrendered for cancellation, the Trustee shall take appropriate steps as directed by the Master Servicer to contact the remaining Certificateholders concerning surrender of their Certificates. The costs and expenses of maintaining the escrow account and of contacting Certificateholders shall be paid out of the assets which remain in the escrow account. If within nine months after the second notice any Certificates shall not have been surrendered for cancellation, the Trustee shall pay to the Master Servicer all amounts distributable to the holders thereof and the Master Servicer shall thereafter hold such amounts until distributed to such Holders. No interest shall accrue or be payable to any Certificateholder on any amount held in the escrow account or by the Master Servicer as a result of such Certificateholder's failure to surrender its Certificate(s) for final payment thereof in accordance with this Section 9.01. (d) If any Certificateholders do not surrender their Certificates on or before the Distribution Date on which a purchase of the outstanding Certificates is to be made, the Trustee shall on such date cause all funds in the Certificate Account deposited therein by the Master Servicer pursuant to Section 9.01(b) to be withdrawn therefrom and deposited in a separate escrow account for the benefit of such Certificateholders, and the Master Servicer shall give a second written notice to such Certificateholders to surrender their Certificates for payment of the purchase price therefor. If within six months after the second notice any Certificate shall not have been surrendered for cancellation, the Trustee shall take appropriate steps as directed by the Master Servicer to contact the Holders of such Certificates concerning surrender of their Certificates. The costs and expenses of maintaining the escrow account and of contacting Certificateholders shall be paid out of the assets which remain in the escrow account. If within nine months after the second notice any Certificates shall not have been surrendered for cancellation in accordance with this Section 9.01, the Trustee shall pay to the Master Servicer all amounts distributable to the Holders thereof and the Master Servicer shall thereafter hold such amounts until distributed to such Holders. No interest shall accrue or be payable to any Certificateholder on any amount held in the escrow account or by the Master Servicer as a result of such Certificateholder's failure to surrender its Certificate(s) for payment in accordance with this Section 9.01. Any Certificate that is not surrendered on the Distribution Date on which a purchase pursuant to this Section 9.01 occurs as provided above will be deemed to have been purchased and the Holder as of such date will have no rights with respect thereto except to receive the purchase price therefor minus any costs and expenses associated with such escrow account and notices allocated thereto. Any Certificates so purchased or deemed to have been purchased on such Distribution Date shall remain outstanding hereunder until the Master Servicer has terminated the respective obligations and responsibilities created hereby in respect of the Certificates pursuant to this Article IX. The Master Servicer shall be for all purposes the Holder thereof as of such date. Section 9.02. Additional Termination Requirements. (a) Each REMIC that comprises the Trust Fund shall be terminated in accordance with the following additional requirements, unless (subject to Section 10.01(f)) the Trustee and the Master Servicer have received an Opinion of Counsel (which Opinion of Counsel shall not be an expense of the Trustee) to the effect that the failure of each such REMIC to comply with the requirements of this Section 9.02 will not (i) result in the imposition on the Trust Fund of taxes on "prohibited transactions," as described in Section 860F of the Code, or (ii) cause any such REMIC to fail to qualify as a REMIC at any time that any Certificate is outstanding: (i) The Master Servicer shall establish a 90-day liquidation period for each such REMIC and specify the first day of such period in a statement attached to the Trust Fund's final Tax Return pursuant to Treasury regulations Section 1.860F-1. The Master Servicer also shall satisfy all of the requirements of a qualified liquidation for a REMIC under Section 860F of the Code and regulations thereunder; (ii) The Master Servicer shall notify the Trustee at the commencement of such 90-day liquidation period and, at or prior to the time of making of the final payment on the Certificates, the Trustee shall sell or otherwise dispose of all of the remaining assets of the Trust Fund in accordance with the terms hereof; and (iii) If the Master Servicer or the Company is exercising its right to purchase the assets of the Trust Fund, the Master Servicer shall, during the 90-day liquidation period and at or prior to the Final Distribution Date, purchase all of the assets of the Trust Fund for cash. (b) Each Holder of a Certificate and the Trustee hereby irrevocably approves and appoints the Master Servicer as its attorney-in-fact to adopt a plan of complete liquidation for each REMIC at the expense of the Trust Fund in accordance with the terms and conditions of this Agreement. Section 9.03. Termination of Multiple REMICs. If the REMIC Administrator makes two or more separate REMIC elections, the applicable REMIC shall be terminated on the earlier of the Final Distribution Date and the date on which it is deemed to receive the last deemed distributions on the related Uncertificated REMIC Regular Interests and the last distribution due on the Certificates is made.
ARTICLE X REMIC PROVISIONS Section 10.01. REMIC Administration. (a) The REMIC Administrator shall make an election to treat the Trust Fund as one or more REMICs under the Code and, if necessary, under applicable state law. The assets of each such REMIC will be set forth in the Series Supplement. Such election will be made on Form 1066 or other appropriate federal tax or information return (including Form 8811) or any appropriate state return for the taxable year ending on the last day of the calendar year in which the Certificates are issued. For the purposes of each REMIC election in respect of the Trust Fund, Certificates and interests to be designated as the "regular interests" and the sole class of "residual interests" in the REMIC will be set forth in Section 10.03 of the Series Supplement. The REMIC Administrator and the Trustee shall not permit the creation of any "interests" (within the meaning of Section 860G of the Code) in any REMIC elected in respect of the Trust Fund other than the "regular interests" and "residual interests" so designated. (b) The Closing Date is hereby designated as the "startup day" of the Trust Fund within the meaning of Section 860G(a)(9) of the Code. (c) The REMIC Administrator shall hold a Class R Certificate representing a 0.01% Percentage Interest each Class of the Class R Certificates and shall be designated as "the tax matters person" with respect to each REMIC in the manner provided under Treasury regulations section 1.860F-4(d) and Treasury regulations section 301.6231(a)(7)-1. The REMIC Administrator, as tax matters person, shall (i) act on behalf of each REMIC in relation to any tax matter or controversy involving the Trust Fund and (ii) represent the Trust Fund in any administrative or judicial proceeding relating to an examination or audit by any governmental taxing authority with respect thereto. The legal expenses, including without limitation attorneys' or accountants' fees, and costs of any such proceeding and any liability resulting therefrom shall be expenses of the Trust Fund and the REMIC Administrator shall be entitled to reimbursement therefor out of amounts attributable to the Mortgage Loans on deposit in the Custodial Account as provided by Section 3.10 unless such legal expenses and costs are incurred by reason of the REMIC Administrator's willful misfeasance, bad faith or gross negligence. If the REMIC Administrator is no longer the Master Servicer hereunder, at its option the REMIC Administrator may continue its duties as REMIC Administrator and shall be paid reasonable compensation not to exceed $3,000 per year by any successor Master Servicer hereunder for so acting as the REMIC Administrator. (d) The REMIC Administrator shall prepare or cause to be prepared all of the Tax Returns that it determines are required with respect to each REMIC created hereunder and deliver such Tax Returns in a timely manner to the Trustee and the Trustee shall sign and file such Tax Returns in a timely manner. The expenses of preparing such returns shall be borne by the REMIC Administrator without any right of reimbursement therefor. The REMIC Administrator agrees to indemnify and hold harmless the Trustee with respect to any tax or liability arising from the Trustee's signing of Tax Returns that contain errors or omissions. The Trustee and Master Servicer shall promptly provide the REMIC Administrator with such information as the REMIC Administrator may from time to time request for the purpose of enabling the REMIC Administrator to prepare Tax Returns. (e) The REMIC Administrator shall provide (i) to any Transferor of a Class R Certificate such information as is necessary for the application of any tax relating to the transfer of a Class R Certificate to any Person who is not a Permitted Transferee, (ii) to the Trustee, and the Trustee shall forward to the Certificateholders, such information or reports as are required by the Code or the REMIC Provisions including reports relating to interest, original issue discount and market discount or premium (using the Prepayment Assumption) and (iii) to the Internal Revenue Service the name, title, address and telephone number of the person who will serve as the representative of each REMIC. (f) The Master Servicer and the REMIC Administrator shall take such actions and shall cause each REMIC created hereunder to take such actions as are reasonably within the Master Servicer's or the REMIC Administrator's control and the scope of its duties more specifically set forth herein as shall be necessary or desirable to maintain the status of each REMIC as a REMIC under the REMIC Provisions (and the Trustee shall assist the Master Servicer and the REMIC Administrator, to the extent reasonably requested by the Master Servicer and the REMIC Administrator to do so). The Master Servicer and the REMIC Administrator shall not knowingly or intentionally take any action, cause the Trust Fund to take any action or fail to take (or fail to cause to be taken) any action reasonably within their respective control that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of any portion of any REMIC formed under the Series Supplement as a REMIC or (ii) result in the imposition of a tax upon any such REMIC (including but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code) (either such event, in the absence of an Opinion of Counsel or the indemnification referred to in this sentence, an "Adverse REMIC Event") unless the Master Servicer or the REMIC Administrator, as applicable, has received an Opinion of Counsel (at the expense of the party seeking to take such action or, if such party fails to pay such expense, and the Master Servicer or the REMIC Administrator, as applicable, determines that taking such action is in the best interest of the Trust Fund and the Certificateholders, at the expense of the Trust Fund, but in no event at the expense of the Master Servicer, the REMIC Administrator or the Trustee) to the effect that the contemplated action will not, with respect to each REMIC created hereunder, endanger such status or, unless the Master Servicer, the REMIC Administrator or both, as applicable, determine in its or their sole discretion to indemnify the Trust Fund against the imposition of such a tax, result in the imposition of such a tax. Wherever in this Agreement a contemplated action may not be taken because the timing of such action might result in the imposition of a tax on the Trust Fund, or may only be taken pursuant to an Opinion of Counsel that such action would not impose a tax on the Trust Fund, such action may nonetheless be taken provided that the indemnity given in the preceding sentence with respect to any taxes that might be imposed on the Trust Fund has been given and that all other preconditions to the taking of such action have been satisfied. The Trustee shall not take or fail to take any action (whether or not authorized hereunder) as to which the Master Servicer or the REMIC Administrator, as applicable, has advised it in writing that it has received an Opinion of Counsel to the effect that an Adverse REMIC Event could occur with respect to such action. In addition, prior to taking any action with respect to any REMIC created hereunder or any related assets thereof, or causing any such REMIC to take any action, which is not expressly permitted under the terms of this Agreement, the Trustee will consult with the Master Servicer or the REMIC Administrator, as applicable, or its designee, in writing, with respect to whether such action could cause an Adverse REMIC Event to occur with respect to any such REMIC, and the Trustee shall not take any such action or cause any such REMIC to take any such action as to which the Master Servicer or the REMIC Administrator, as applicable, has advised it in writing that an Adverse REMIC Event could occur. The Master Servicer or the REMIC Administrator, as applicable, may consult with counsel to make such written advice, and the cost of same shall be borne by the party seeking to take the action not expressly permitted by this Agreement, but in no event at the expense of the Master Servicer or the REMIC Administrator. At all times as may be required by the Code, the Master Servicer will to the extent within its control and the scope of its duties more specifically set forth herein, maintain substantially all of the assets of each REMIC created hereunder as "qualified mortgages" as defined in Section 860G(a)(3) of the Code and "permitted investments" as defined in Section 860G(a)(5) of the Code. (g) In the event that any tax is imposed on "prohibited transactions" of any REMIC created hereunder as defined in Section 860F(a)(2) of the Code, on "net income from foreclosure property" of any such REMIC as defined in Section 860G(c) of the Code, on any contributions to any such REMIC after the Startup Day therefor pursuant to Section 860G(d) of the Code, or any other tax is imposed by the Code or any applicable provisions of state or local tax laws, such tax shall be charged (i) to the Master Servicer, if such tax arises out of or results from a breach by the Master Servicer of any of its obligations under this Agreement or the Master Servicer has in its sole discretion determined to indemnify the Trust Fund against such tax, (ii) to the Trustee, if such tax arises out of or results from a breach by the Trustee of any of its obligations under this Article X, or (iii) otherwise against amounts on deposit in the Custodial Account as provided by Section 3.10 and on the Distribution Date(s) following such reimbursement the aggregate of such taxes shall be allocated in reduction of the Accrued Certificate Interest on each Class entitled thereto in the same manner as if such taxes constituted a Prepayment Interest Shortfall. (h) The Trustee and the Master Servicer shall, for federal income tax purposes, maintain books and records with respect to each REMIC created hereunder on a calendar year and on an accrual basis or as otherwise may be required by the REMIC Provisions. (i) Following the Startup Day, neither the Master Servicer nor the Trustee shall accept any contributions of assets to any REMIC created hereunder unless (subject to Section 10.01(f)) the Master Servicer and the Trustee shall have received an Opinion of Counsel (at the expense of the party seeking to make such contribution) to the effect that the inclusion of such assets in such REMIC will not cause the REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding or subject the REMIC to any tax under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances. (j) Neither the Master Servicer nor the Trustee shall (subject to Section 10.01(f)) enter into any arrangement by which any REMIC created hereunder will receive a fee or other compensation for services nor permit any such REMIC to receive any income from assets other than "qualified mortgages" as defined in Section 860G(a)(3) of the Code or "permitted investments" as defined in Section 860G(a)(5) of the Code. (k) Solely for the purposes of Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" by which the Certificate Principal Balance of each Class of Certificates (other than the Interest Only Certificates) representing a regular interest in the applicable REMIC and the Uncertificated Principal Balance of each Uncertificated REMIC Regular Interest (other than each Uncertificated REMIC Regular Interest represented by a Class A-V Certificate, if any) and the rights to the Interest Only Certificates and Uncertificated REMIC Regular Interest represented by a Class A-V Certificate would be reduced to zero is the Maturity Date for each such Certificate and Interest. (l) Within 30 days after the Closing Date, the REMIC Administrator shall prepare and file with the Internal Revenue Service Form 8811, "Information Return for Real Estate Mortgage Investment Conduits (REMIC) and Issuers of Collateralized Debt Obligations" for each REMIC created hereunder. (m) Neither the Trustee nor the Master Servicer shall sell, dispose of or substitute for any of the Mortgage Loans (except in connection with (i) the default, imminent default or foreclosure of a Mortgage Loan, including but not limited to, the acquisition or sale of a Mortgaged Property acquired by deed in lieu of foreclosure, (ii) the bankruptcy of any REMIC created hereunder, (iii) the termination of any such REMIC pursuant to Article IX of this Agreement or (iv) a purchase of Mortgage Loans pursuant to Article II or III of this Agreement) nor acquire any assets for any such REMIC, nor sell or dispose of any investments in the Custodial Account or the Certificate Account for gain nor accept any contributions to any such REMIC after the Closing Date unless it has received an Opinion of Counsel that such sale, disposition, substitution or acquisition will not (a) affect adversely the status of such REMIC as a REMIC or (b) unless the Master Servicer has determined in its sole discretion to indemnify the Trust Fund against such tax, cause such REMIC to be subject to a tax on "prohibited transactions" or "contributions" pursuant to the REMIC Provisions. Section 10.02. Master Servicer, REMIC Administrator and Trustee Indemnification. (a) The Trustee agrees to indemnify the Trust Fund, the Company, the REMIC Administrator and the Master Servicer for any taxes and costs including, without limitation, any reasonable attorneys fees imposed on or incurred by the Trust Fund, the Company or the Master Servicer, as a result of a breach of the Trustee's covenants set forth in Article VIII or this Article X. (b) The REMIC Administrator agrees to indemnify the Trust Fund, the Company, the Master Servicer and the Trustee for any taxes and costs (including, without limitation, any reasonable attorneys' fees) imposed on or incurred by the Trust Fund, the Company, the Master Servicer or the Trustee, as a result of a breach of the REMIC Administrator's covenants set forth in this Article X with respect to compliance with the REMIC Provisions, including without limitation, any penalties arising from the Trustee's execution of Tax Returns prepared by the REMIC Administrator that contain errors or omissions; provided, however, that such liability will not be imposed to the extent such breach is a result of an error or omission in information provided to the REMIC Administrator by the Master Servicer in which case Section 10.02(c) will apply. (c) The Master Servicer agrees to indemnify the Trust Fund, the Company, the REMIC Administrator and the Trustee for any taxes and costs (including, without limitation, any reasonable attorneys' fees) imposed on or incurred by the Trust Fund, the Company, the REMIC Administrator or the Trustee, as a result of a breach of the Master Servicer's covenants set forth in this Article X or in Article III with respect to compliance with the REMIC Provisions, including without limitation, any penalties arising from the Trustee's execution of Tax Returns prepared by the Master Servicer that contain errors or omissions. Section 10.03. Designation of REMIC(s). As provided in Section 10.03 of the Series Supplement. Section 10.04. Distributions on the Uncertificated REMIC I and REMIC II Regular Interests. As provided in Section 10.04 of the Series Supplement. Section 10.05. Compliance with Withholding Requirements. As provided in Section 10.05 of the Series Supplement.
ARTICLE XI MISCELLANEOUS PROVISIONS Section 11.01. Amendment. (a) This Agreement or any Custodial Agreement may be amended from time to time by the Company, the Master Servicer and the Trustee, without the consent of any of the Certificateholders: (i) to cure any ambiguity, (ii) to correct or supplement any provisions herein or therein, which may be inconsistent with any other provisions herein or therein or to correct any error, (iii) to modify, eliminate or add to any of its provisions to such extent as shall be necessary or desirable to maintain the qualification of the Trust Fund as a REMIC at all times that any Certificate is outstanding or to avoid or minimize the risk of the imposition of any tax on the Trust Fund pursuant to the Code that would be a claim against the Trust Fund, provided that the Trustee has received an Opinion of Counsel to the effect that (A) such action is necessary or desirable to maintain such qualification or to avoid or minimize the risk of the imposition of any such tax and (B) such action will not adversely affect in any material respect the interests of any Certificateholder, (iv) to change the timing and/or nature of deposits into the Custodial Account or the Certificate Account or to change the name in which the Custodial Account is maintained, provided that (A) the Certificate Account Deposit Date shall in no event be later than the related Distribution Date, (B) such change shall not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any Certificateholder and (C) such change shall not result in a reduction of the rating assigned to any Class of Certificates below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date (in the case of the Insured Certificates (as defined in the Series Supplement), such determination shall be made without giving effect to the Certificate Policy (as defined in the Series Supplement)), as evidenced by a letter from each Rating Agency to such effect, (v) to modify, eliminate or add to the provisions of Section 5.02(f) or any other provision hereof restricting transfer of the Class R Certificates, by virtue of their being the "residual interests" in a REMIC, provided that (A) such change shall not result in reduction of the rating assigned to any such Class of Certificates below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date (in the case of the Insured Certificates (as defined in the Series Supplement), such determination shall be made without giving effect to the Certificate Policy (as defined in the Series Supplement)), as evidenced by a letter from each Rating Agency to such effect, and (B) such change shall not (subject to Section 10.01(f)), as evidenced by an Opinion of Counsel (at the expense of the party seeking so to modify, eliminate or add such provisions), cause any REMIC created hereunder or any of the Certificateholders (other than the transferor) to be subject to a federal tax caused by a transfer to a Person that is not a Permitted Transferee, (vi) to make any other provisions with respect to matters or questions arising under this Agreement or such Custodial Agreement which shall not be materially inconsistent with the provisions of this Agreement, provided that such action shall not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any Certificateholder or (vii) to amend any provision herein or therein that is not material to any of the Certificateholders. (b) This Agreement or any Custodial Agreement may also be amended from time to time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66% of the Percentage Interests of each Class of Certificates with a Certificate Principal Balance greater than zero affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or such Custodial Agreement or of modifying in any manner the rights of the Holders of Certificates of such Class; provided, however, that no such amendment shall: (i) reduce in any manner the amount of, or delay the timing of, payments which are required to be distributed on any Certificate without the consent of the Holder of such Certificate, (ii) reduce the aforesaid percentage of Certificates of any Class the Holders of which are required to consent to any such amendment, in any such case without the consent of the Holders of all Certificates of such Class then outstanding. (c) Notwithstanding any contrary provision of this Agreement, the Trustee shall not consent to any amendment to this Agreement unless it shall have first received an Opinion of Counsel (subject to Section 10.01(f) and at the expense of the party seeking such amendment) to the effect that such amendment or the exercise of any power granted to the Master Servicer, the Company or the Trustee in accordance with such amendment will not result in the imposition of a federal tax on the Trust Fund or cause any REMIC created under the Series Supplement to fail to qualify as a REMIC at any time that any Certificate is outstanding. (d) Promptly after the execution of any such amendment the Trustee shall furnish written notification of the substance of such amendment to the Custodian and each Certificateholder. It shall not be necessary for the consent of Certificateholders under this Section 11.01 to approve the particular form of any proposed amendment, but it shall be sufficient if such consent shall approve the substance thereof. The manner of obtaining such consents and of evidencing the authorization of the execution thereof by Certificateholders shall be subject to such reasonable regulations as the Trustee may prescribe. (e) The Company shall have the option, in its sole discretion, to obtain and deliver to the Trustee any corporate guaranty, payment obligation, irrevocable letter of credit, surety bond, insurance policy or similar instrument or a reserve fund, or any combination of the foregoing, for the purpose of protecting the Holders of the Class B Certificates against any or all Realized Losses or other shortfalls. Any such instrument or fund shall be held by the Trustee for the benefit of the Class B Certificateholders, but shall not be and shall not be deemed to be under any circumstances included in the Trust Fund. To the extent that any such instrument or fund constitutes a reserve fund for federal income tax purposes, (i) any reserve fund so established shall be an outside reserve fund and not an asset of the Trust Fund, (ii) any such reserve fund shall be owned by the Company, and (iii) amounts transferred by the Trust Fund to any such reserve fund shall be treated as amounts distributed by the Trust Fund to the Company or any successor, all within the meaning of Treasury Regulations Section 1.860G-2(h) as it reads as of the Cut-off Date. In connection with the provision of any such instrument or fund, this Agreement and any provision hereof may be modified, added to, deleted or otherwise amended in any manner that is related or incidental to such instrument or fund or the establishment or administration thereof, such amendment to be made by written instrument executed or consented to by the Company but without the consent of any Certificateholder and without the consent of the Master Servicer or the Trustee being required unless any such amendment would impose any additional obligation on, or otherwise adversely affect the interests of the Senior Certificateholders, the Class M Certificateholders, the Master Servicer or the Trustee, as applicable; provided that the Company obtains (subject to Section 10.01(f)) an Opinion of Counsel (which need not be an opinion of Independent counsel) to the effect that any such amendment will not cause (a) any federal tax to be imposed on the Trust Fund, including without limitation, any federal tax imposed on "prohibited transactions" under Section 860F(a)(1) of the Code or on "contributions after the startup date" under Section 860G(d)(1) of the Code and (b) any REMIC created hereunder to fail to qualify as a REMIC at any time that any Certificate is outstanding. In the event that the Company elects to provide such coverage in the form of a limited guaranty provided by General Motors Acceptance Corporation, the Company may elect that the text of such amendment to this Agreement shall be substantially in the form attached hereto as Exhibit K (in which case Residential Funding's Subordinate Certificate Loss Obligation as described in such exhibit shall be established by Residential Funding's consent to such amendment) and that the limited guaranty shall be executed in the form attached hereto as Exhibit L, with such changes as the Company shall deem to be appropriate; it being understood that the Trustee has reviewed and approved the content of such forms and that the Trustee's consent or approval to the use thereof is not required. Section 11.02. Recordation of Agreement; Counterparts. (a) To the extent permitted by applicable law, this Agreement is subject to recordation in all appropriate public offices for real property records in all the counties or other comparable jurisdictions in which any or all of the properties subject to the Mortgages are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected by the Master Servicer and at its expense on direction by the Trustee (pursuant to the request of Holders of Certificates entitled to at least 25% of the Voting Rights), but only upon direction accompanied by an Opinion of Counsel to the effect that such recordation materially and beneficially affects the interests of the Certificateholders. (b) For the purpose of facilitating the recordation of this Agreement as herein provided and for other purposes, this Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an original, and such counterparts shall constitute but one and the same instrument. Section 11.03. Limitation on Rights of Certificateholders. (a) The death or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Certificateholder's legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations and liabilities of any of the parties hereto. (b) No Certificateholder shall have any right to vote (except as expressly provided herein) or in any manner otherwise control the operation and management of the Trust Fund, or the obligations of the parties hereto, nor shall anything herein set forth, or contained in the terms of the Certificates, be construed so as to constitute the Certificateholders from time to time as partners or members of an association; nor shall any Certificateholder be under any liability to any third person by reason of any action taken by the parties to this Agreement pursuant to any provision hereof. (c) No Certificateholder shall have any right by virtue of any provision of this Agreement to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, unless such Holder previously shall have given to the Trustee a written notice of default and of the continuance thereof, as hereinbefore provided, and unless also the Holders of Certificates of any Class evidencing in the aggregate not less than 25% of the related Percentage Interests of such Class, shall have made written request upon the Trustee to institute such action, suit or proceeding in its own name as Trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby, and the Trustee, for 60 days after its receipt of such notice, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding it being understood and intended, and being expressly covenanted by each Certificateholder with every other Certificateholder and the Trustee, that no one or more Holders of Certificates of any Class shall have any right in any manner whatever by virtue of any provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of such Certificates of such Class or any other Class, or to obtain or seek to obtain priority over or preference to any other such Holder, or to enforce any right under this Agreement, except in the manner herein provided and for the common benefit of Certificateholders of such Class or all Classes, as the case may be. For the protection and enforcement of the provisions of this Section 11.03, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. Section 11.04. Governing Law. This agreement and the Certificates shall be governed by and construed in accordance with the laws of the State of New York and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws. Section 11.05. Notices. As provided in Section 11.05 of the Series Supplement. Section 11.06. Required Notices to Rating Agency and Subservicer. The Company, the Master Servicer or the Trustee, as applicable, (i) shall notify each Rating Agency at such time as it is otherwise required pursuant to this Agreement to give notice of the occurrence of, any of the events described in clause (a), (b), (c), (d), (g), (h), (i) or (j) below, (ii) shall notify the Subservicer at such time as it is otherwise required pursuant to this Agreement to give notice of the occurrence of, any of the events described in clause (a), (b), (c)(1), (g)(1), or (i) below, or (iii) provide a copy to each Rating Agency at such time as otherwise required to be delivered pursuant to this Agreement of any of the statements described in clauses (e) and (f) below: (a) a material change or amendment to this Agreement, (b) the occurrence of an Event of Default, (c) (1) the termination or appointment of a successor Master Servicer or (2) the termination or appointment of a successor Trustee or a change in the majority ownership of the Trustee, (d) the filing of any claim under the Master Servicer's blanket fidelity bond and the errors and omissions insurance policy required by Section 3.12 or the cancellation or modification of coverage under any such instrument, (e) the statement required to be delivered to the Holders of each Class of Certificates pursuant to Section 4.03, (f) the statements required to be delivered pursuant to Sections 3.18 and 3.19, (g) (1) a change in the location of the Custodial Account or (2) a change in the location of the Certificate Account, (h) the occurrence of any monthly cash flow shortfall to the Holders of any Class of Certificates resulting from the failure by the Master Servicer to make an Advance pursuant to Section 4.04, (i) the occurrence of the Final Distribution Date, and (j) the repurchase of or substitution for any Mortgage Loan, provided, however, that with respect to notice of the occurrence of the events described in clauses (d), (g) or (h) above, the Master Servicer shall provide prompt written notice to each Rating Agency and the Subservicer, if applicable, of any such event known to the Master Servicer. Section 11.07. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights of the Holders thereof. Section 11.08. Supplemental Provisions for Resecuritization. This Agreement may be supplemented by means of the addition of a separate Article hereto (a "Supplemental Article") for the purpose of resecuritizing any of the Certificates issued hereunder, under the following circumstances. With respect to any Class or Classes of Certificates issued hereunder, or any portion of any such Class, as to which the Company or any of its Affiliates (or any designee thereof) is the registered Holder (the "Resecuritized Certificates"), the Company may deposit such Resecuritized Certificates into a new REMIC, grantor trust or custodial arrangement (a "Restructuring Vehicle") to be held by the Trustee pursuant to a Supplemental Article. The instrument adopting such Supplemental Article shall be executed by the Company, the Master Servicer and the Trustee; provided, that neither the Master Servicer nor the Trustee shall withhold their consent thereto if their respective interests would not be materially adversely affected thereby. To the extent that the terms of the Supplemental Article do not in any way affect any provisions of this Agreement as to any of the Certificates initially issued hereunder, the adoption of the Supplemental Article shall not constitute an "amendment" of this Agreement. Each Supplemental Article shall set forth all necessary provisions relating to the holding of the Resecuritized Certificates by the Trustee, the establishment of the Restructuring Vehicle, the issuing of various classes of new certificates by the Restructuring Vehicle and the distributions to be made thereon, and any other provisions necessary for the purposes thereof. In connection with each Supplemental Article, the Company shall deliver to the Trustee an Opinion of Counsel to the effect that (i) the Restructuring Vehicle will qualify as a REMIC, grantor trust or other entity not subject to taxation for federal income tax purposes and (ii) the adoption of the Supplemental Article will not endanger the status of the Trust Fund as a REMIC or (subject to Section 10.01(f)) result in the imposition of a tax upon the Trust Fund (including but not limited to the tax on prohibited transactions as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC as set forth in Section 860G(d) of the Code). Section 11.09. Allocation of Voting Rights. As provided in Section 11.09 of the Series Supplement. Section 11.10. No Petition. As provided in Section 11.10 of the Series Supplement.
ARTICLE XII COMPLIANCE WITH REGULATION AB Section 12.01. Intent of the Parties; Reasonableness. The Company, the Trustee and the Master Servicer acknowledge and agree that the purpose of this Article XII is to facilitate compliance by the Company with the provisions of Regulation AB and related rules and regulations of the Commission. The Company shall not exercise its right to request delivery of information or other performance under these provisions other than in good faith, or for purposes other than compliance with the Securities Act, the Exchange Act and the rules and regulations of the Commission under the Securities Act and the Exchange Act. Each of the Master Servicer and the Trustee acknowledges that interpretations of the requirements of Regulation AB may change over time, whether due to interpretive guidance provided by the Commission or its staff, consensus among participants in the mortgage-backed securities markets, advice of counsel, or otherwise, and agrees to comply with reasonable requests made by the Company in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB. Each of the Master Servicer and the Trustee shall cooperate reasonably with the Company to deliver to the Company (including any of its assignees or designees), any and all disclosure, statements, reports, certifications, records and any other information necessary in the reasonable, good faith determination of the Company to permit the Company to comply with the provisions of Regulation AB. Section 12.02. Additional Representations and Warranties of the Trustee. (a)....The Trustee shall be deemed to represent to the Company as of the date hereof and on each date on which information is provided to the Company under Sections 12.01, 12.02(b) or 12.03 that, except as disclosed in writing to the Company prior to such date: (i) there are no material legal or governmental proceedings pending (or known to be contemplated) against it that would be material to Certificateholders; and (ii) the Trustee is not an affiliate (as contemplated by Item 1119(a) of Regulation AB) of the Company or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as each of such terms are used in Regulation AB), as identified by the Company to the Trustee in writing as of the Closing Date (each, a "Transaction Party"). The Company shall notify the Trustee of any change in the identity of a Transaction Party after the Closing Date. (b)....If so requested by the Company on any date following the Closing Date, the Trustee shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (a) of this Section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide the pertinent facts, in writing, to the Company. Any such request from the Company shall not be given more than once each calendar quarter, unless the Company shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate. Section 12.03. Information to Be Provided by the Trustee. For so long as the Certificates are outstanding, for the purpose of satisfying the Company's reporting obligation under the Exchange Act with respect to any class of Certificates, the Trustee shall provide to the Company a written description of (a) any litigation or governmental proceedings pending against the Trustee as of the last day of each calendar month that would be material to Certificateholders, and (b) any affiliations or relationships (as described in Item 1119 of Regulation AB) that develop following the Closing Date between the Trustee and any Transaction Party of the type described in Section 12.02(a)(iv) or 12.02(a)(v) as of the last day of each calendar year. Any descriptions required with respect to legal proceedings, as well as updates to previously provided descriptions, under this Section 12.03 shall be given no later than five Business Days prior to the Determination Date following the month in which the relevant event occurs, and any notices and descriptions required with respect to affiliations, as well as updates to previously provided descriptions, under this Section 12.03 shall be given no later than January 31 of the calendar year following the year in which the relevant event occurs. As of the related Distribution Date with respect to each Report on Form 10-D with respect to the Certificates filed by or on behalf of the Company, and as of March 15 preceding the date each Report on Form 10-K with respect to the Certificates is filed, the Trustee will be deemed to represent that any information previously provided by the Trustee under this Article XII is materially correct and does not have any material omissions unless the Trustee has provided an update to such information. The Company will provide the Trustee any disclosure relating to material litigation against the Trustee in a timely manner to allow the Trustee to review such disclosure prior to filing such disclosure with the Commission to the extent the Company changes the information provided by the Trustee. Section 12.04. Report on Assessment of Compliance and Attestation. On or before March 15 of each calendar year until a Form 15 Suspension Notification has been filed with the Commission with respect to the Trust, the Trustee shall: (a) deliver to the Company a report (in form and substance reasonably satisfactory to the Company) regarding the Trustee's assessment of compliance with the applicable Servicing Criteria during the immediately preceding calendar year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report shall be signed by an authorized officer of the Trustee, and shall address each of the Servicing Criteria specified on Exhibit R hereto; and (b) deliver to the Company a report of a registered public accounting firm satisfying the requirements of Rule 2-01 of Regulation S-X under the Securities Act and the Exchange Act that attests to, and reports on, the assessment of compliance made by the Trustee and delivered pursuant to the preceding paragraph. Such attestation shall be in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and the Exchange Act. Section 12.05. Indemnification; Remedies. (a) The Trustee shall indemnify the Company, each affiliate of the Company, the Master Servicer and each affiliate of the Master Servicer, and the respective present and former directors, officers, employees and agents of each of the foregoing, and shall hold each of them harmless from and against any losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain arising out of or based upon: ......................(i)(A) any untrue statement of a material fact contained or alleged to be contained in any information, report, certification or other material provided under this Article XII by the Trustee (collectively, the "Trustee Information"), or (B) the omission or alleged omission to state in the Trustee Information a material fact required to be stated in the Trustee Information or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; or ......................(ii) any failure by the Trustee to deliver any information, report, certification or other material when and as required under this Article XII, other than a failure by the Trustee to deliver an accountants' attestation; provided, however, that in no event will the Trustee be liable for any consequential or punitive damages pursuant to this Section 12.05(a), even if advised of the possibility of such damages. (b) In the case of any failure of performance described in clause (ii) of Section 12.05(a), the Trustee shall (i) promptly reimburse the Company for all costs reasonably incurred by the Company in order to obtain the information, report, certification, accountants' attestation or other material not delivered as required by the Trustee and (ii) cooperate with the Company to mitigate any damages that may result from such failure. (c) The Company and the Master Servicer shall indemnify the Trustee, each affiliate of the Trustee and the respective present and former directors, officers, employees and agents of the Trustee, and shall hold each of them harmless from and against any losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain arising out of or based upon (i) any untrue statement of a material fact contained or alleged to be contained in any information provided under this Agreement by or on behalf of the Company or Master Servicer for inclusion in any report filed with Commission under the Exchange Act (collectively, the "RFC Information"), or (ii) the omission or alleged omission to state in the RFC Information a material fact required to be stated in the RFC Information or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that in no event will the Company or the Master Servicer be liable for any consequential or punitive damages pursuant to this Section 12.05(c), even if advised of the possibility of such damages.
EXHIBIT A FORM OF CLASS A CERTIFICATE, [PRINCIPAL ONLY/CLASS A-P] CERTIFICATE AND [INTEREST ONLY/CLASS A-V] CERTIFICATE SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] [THE FOLLOWING INFORMATION IS PROVIDED SOLELY FOR THE PURPOSES OF APPLYING THE U.S. FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT ("OID") RULES TO THIS CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS ___________ __, ____. ASSUMING THAT THE MORTGAGE LOANS PREPAY AT [___]% OF THE PREPAYMENT SPEED ASSUMPTION (AS DESCRIBED IN THE PROSPECTUS SUPPLEMENT), [AND ASSUMING A CONSTANT PASS-THROUGH RATE EQUAL TO THE INITIAL PASS-THROUGH RATE,] THIS CERTIFICATE HAS BEEN ISSUED WITH NO MORE THAN $[ ] OF OID PER [$1,000] [$100,000] OF [INITIAL CERTIFICATE PRINCIPAL BALANCE] [NOTIONAL AMOUNT], THE YIELD TO MATURITY IS [ ]% AND THE AMOUNT OF OID ATTRIBUTABLE TO THE INITIAL ACCRUAL PERIOD IS NO MORE THAN $[ ] PER [$1,000] [$100,000] OF [INITIAL CERTIFICATE PRINCIPAL BALANCE] [NOTIONAL AMOUNT], COMPUTED USING THE APPROXIMATE METHOD. NO REPRESENTATION IS MADE THAT THE MORTGAGE LOANS WILL PREPAY AT A RATE BASED ON THE PREPAYMENT SPEED ASSUMPTION OR AT ANY OTHER RATE OR AS TO THE CONSTANCY OF THE PASS-THROUGH RATE.] Certificate No. [ %][Variable] Pass-Through Rate [based on a Notional Amount] Class A- Senior Date of Pooling and Servicing [Percentage Interest: %] Agreement and Cut-off Date: ___________ 1, ____ Aggregate Initial [Certificate Principal Balance] [[Interest Only/Class A-V] Notional First Distribution Date: Amount] [Subclass Notional Amount] of the _________ 25, ____ Class A- Certificates: Master Servicer: [Initial] [Certificate Principal Residential Funding Balance] [Interest Only/Class A-V] [Subclass] Corporation Notional Amount] of this Certificate: $ ] Assumed Final Distribution Date: CUSIP 76110F- ___________ 25, ____ MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATE SERIES ____-___ evidencing a percentage interest in the distributions allocable to the Class A- Certificates with respect to a Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans formed and sold by RESIDENTIAL ACCREDIT LOANS, INC. This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Residential Accredit Loans, Inc., the Master Servicer, the Trustee referred to below or GMAC Mortgage Group, Inc. or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Residential Accredit Loans, Inc., the Master Servicer, the Trustee or GMAC Mortgage Group, Inc. or any of their affiliates. None of the Company, the Master Servicer, GMAC Mortgage Group, Inc. or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that ________________________________________________________ is the registered owner of the Percentage Interest evidenced by this Certificate [(obtained by dividing the [Initial Certificate Principal Balance] [Initial [Interest Only/Class A-V] Notional Amount] of this Certificate by the aggregate [Initial Certificate Principal Balance of all Class A- Certificates] [Initial [Interest Only/Class A-V] Notional Amounts of all [Interest Only/Class A-V] Certificates], both as specified above)] in certain distributions with respect to the Trust Fund consisting primarily of an interest in a pool of conventional one- to four-family fixed interest rate first mortgage loans (the "Mortgage Loans"), formed and sold by Residential Accredit Loans, Inc. (hereinafter called the "Company," which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement") among the Company, the Master Servicer and __________________, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing as described in the Agreement, to the Person in whose name this Certificate is registered at the close of business on the last day (or if such last day is not a Business Day, the Business Day immediately preceding such last day) of the month immediately preceding the month of such distribution (the "Record Date"), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount [(of interest and principal, if any)] required to be distributed to Holders of Class A- Certificates on such Distribution Date. [The [Interest Only/Class A-V] Notional Amount of the [Interest Only/Class A-V] Certificates as of any date of determination is equal to the aggregate Stated Principal Balance of the Mortgage Loans corresponding to the Uncertificated REMIC Regular Interests represented by such [Interest Only/Class A-V] Certificates.] [The Subclass Notional Amount of the [Interest Only/Class A-V]- Certificates as of any date of determination is equal to the aggregate Stated Principal Balance of the Mortgage Loans corresponding to the Uncertificated REMIC Regular Interests represented by such [Interest Only/Class A-V]- Certificates immediately prior to such date.] [The [Interest Only/Class A-V][- ] Certificates have no Certificate Principal Balance.] Distributions on this Certificate will be made either by the Master Servicer acting on behalf of the Trustee or by a Paying Agent appointed by the Trustee in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Master Servicer or such Paying Agent, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register. Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The [Initial Certificate Principal Balance] [Initial [Interest Only/Class A-V] Notional Amount] [initial Subclass Notional Amount] of this Certificate is set forth above.] [The Certificate Principal Balance hereof will be reduced to the extent of distributions allocable to principal and any Realized Losses allocable hereto.] This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Asset-Backed Pass-Through Certificates of the Series specified hereon (herein collectively called the "Certificates"). The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event Master Servicer funds are advanced with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders. As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them. The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66% of the Percentage Interests of each Class of Certificates affected thereby. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates. As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee in the City and State of New York, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees. The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Company, the Master Servicer, the Trustee and the Certificate Registrar and any agent of the Company, the Master Servicer, the Trustee or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary. This Certificate shall be governed by and construed in accordance with the laws of the State of New York. The obligations created by the Agreement in respect of the Certificates and the Trust Fund created thereby shall terminate upon the payment to Certificateholders of all amounts held by or on behalf of the Trustee and required to be paid to them pursuant to the Agreement following the earlier of (i) the maturity or other liquidation of the last Mortgage Loan subject thereto or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer from the Trust Fund of all remaining Mortgage Loans and all property acquired in respect of such Mortgage Loans, thereby effecting early retirement of the Certificates. The Agreement permits, but does not require, the Master Servicer to (i) purchase at a price determined as provided in the Agreement all remaining Mortgage Loans and all property acquired in respect of any Mortgage Loan or (ii) purchase in whole, but not in part, all of the Certificates from the Holders thereof; provided, that any such option may only be exercised if the Pool Stated Principal Balance of the Mortgage Loans as of the Distribution Date upon which the proceeds of any such purchase are distributed is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed. Dated: [_________________________], as Trustee By: ____________________________ Authorized Signatory CERTIFICATE OF AUTHENTICATION This is one of the Class A- Certificates referred to in the within-mentioned Agreement. [___________________________], as Certificate Registrar By: ___________________________ Authorized Signatory
ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _________________________________________________________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Asset-Backed Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund. I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address: ____________________________________ Dated: ___________________ Signature by or on behalf of assignor ______________________________________ Signature Guaranteed DISTRIBUTION INSTRUCTIONS The assignee should include the following for purposes of distribution: Distributions shall be made, by wire transfer or otherwise, in immediately available funds to _________________________ for the account of ________________ account number __________________, or, if mailed by check, to ____________________. Applicable statements should be mailed to _______________________ . This information is provided by __________________, the assignee named above, or ___________________, as its agent.
EXHIBIT B FORM OF CLASS M CERTIFICATE THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES [CLASS M-1 CERTIFICATES] [AND CLASS M-2 CERTIFICATES] AS DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW). SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THE FOLLOWING INFORMATION IS PROVIDED SOLELY FOR THE PURPOSES OF APPLYING THE U.S. FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT ("OID") RULES TO THIS CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS ___________ __, ____. ASSUMING THAT THE MORTGAGE LOANS PREPAY AT [___]% OF THE PREPAYMENT SPEED ASSUMPTION (AS DESCRIBED IN THE PROSPECTUS SUPPLEMENT), THIS CERTIFICATE HAS BEEN ISSUED WITH NO MORE THAN $[____] OF OID PER $[1,000] OF INITIAL CERTIFICATE PRINCIPAL BALANCE, THE YIELD TO MATURITY IS [_____]% AND THE AMOUNT OF OID ATTRIBUTABLE TO THE INITIAL ACCRUAL PERIOD IS NO MORE THAN $[____] PER $[1,000] OF INITIAL CERTIFICATE PRINCIPAL BALANCE, COMPUTED UNDER THE APPROXIMATE METHOD. NO REPRESENTATION IS MADE THAT THE MORTGAGE LOANS WILL PREPAY AT A RATE BASED ON THE PREPAYMENT SPEED ASSUMPTION OR AT ANY OTHER RATE. ANY TRANSFEREE OF THIS CERTIFICATE WILL BE DEEMED TO HAVE REPRESENTED BY VIRTUE OF ITS PURCHASE OR HOLDING OF THIS CERTIFICATE (OR INTEREST HEREIN) THAT EITHER (A) SUCH TRANSFEREE IS NOT AN INVESTMENT MANAGER, A NAMED FIDUCIARY OR A TRUSTEE OF ANY PLAN, OR ANY OTHER PERSON, ACTING, DIRECTLY OR INDIRECTLY, ON BEHALF OF OR PURCHASING ANY CERTIFICATE WITH "PLAN ASSETS" OF ANY PLAN (A "PLAN INVESTOR"), (B) IT HAS ACQUIRED AND IS HOLDING SUCH CERTIFICATE IN RELIANCE ON PROHIBITED TRANSACTION EXEMPTION ("PTE") 94-29, AS MOST RECENTLY AMENDED, PTE 2002-41, 67 FED. REG. 54487 (AUGUST 22, 2002) (THE "RFC EXEMPTION"), AND THAT IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE RFC EXEMPTION INCLUDING THAT SUCH CERTIFICATE MUST BE RATED, AT THE TIME OF PURCHASE, NOT LOWER THAN "BBB-" (OR ITS EQUIVALENT) BY STANDARD & POOR'S, FITCH OR MOODY'S OR (C) (I) THE TRANSFEREE IS AN INSURANCE COMPANY, (II) THE SOURCE OF FUNDS TO BE USED BY IT TO PURCHASE THE CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT" (WITHIN THE MEANING OF U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION ("PTCE") 95-60), AND (III) THE CONDITIONS SET FORTH IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED (EACH ENTITY THAT SATISFIES THIS CLAUSE (C), A "COMPLYING INSURANCE COMPANY). IF THIS CERTIFICATE (OR ANY INTEREST HEREIN) IS ACQUIRED OR HELD BY ANY PERSON THAT DOES NOT SATISFY THE CONDITIONS DESCRIBED IN THE PRECEDING PARAGRAPH, THEN THE LAST PRECEDING TRANSFEREE THAT EITHER (I) IS NOT A PLAN INVESTOR, (II) ACQUIRED SUCH CERTIFICATE IN COMPLIANCE WITH THE RFC EXEMPTION, OR (III) IS A COMPLYING INSURANCE COMPANY SHALL BE RESTORED, TO THE EXTENT PERMITTED BY LAW, TO ALL RIGHTS AND OBLIGATIONS AS CERTIFICATE OWNER THEREOF RETROACTIVE TO THE DATE OF SUCH TRANSFER OF THIS CERTIFICATE. THE TRUSTEE SHALL BE UNDER NO LIABILITY TO ANY PERSON FOR MAKING ANY PAYMENTS DUE ON THIS CERTIFICATE TO SUCH PRECEDING TRANSFEREE. ANY PURPORTED CERTIFICATE OWNER WHOSE ACQUISITION OR HOLDING OF THIS CERTIFICATE (OR INTEREST HEREIN) WAS EFFECTED IN VIOLATION OF THE RESTRICTIONS IN SECTION 5.02(e) OF THE POOLING AND SERVICING AGREEMENT SHALL INDEMNIFY AND HOLD HARMLESS THE COMPANY, THE TRUSTEE, THE MASTER SERVICER, ANY SUBSERVICER, AND THE TRUST FUND FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY SUCH PARTIES AS A RESULT OF SUCH ACQUISITION OR HOLDING. Certificate No. [ ]% Pass-Through Rate Class M- Subordinate Aggregate Certificate Principal Balance Date of Pooling and Servicing of the Class M Certificates: Agreement and Cut-off Date: $ ___________ 1, ____ Initial Certificate Principal First Distribution Date: Balance of this Certificate: _________ 25, ____ $ Master Servicer: CUSIP: 76110F- Residential Funding Corporation Assumed Final Distribution Date: ___________ 25, ____ MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATE, SERIES ____-___ evidencing a percentage interest in any distributions allocable to the Class M- Certificates with respect to the Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans formed and sold by RESIDENTIAL ACCREDIT LOANS, INC. This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Residential Accredit Loans, Inc., the Master Servicer, the Trustee referred to below or GMAC Mortgage Group, Inc. or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Residential Accredit Loans, Inc., the Master Servicer, the Trustee or GMAC Mortgage Group, Inc. or any of their affiliates. None of the Company, the Master Servicer, GMAC Mortgage Group, Inc. or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that _____________________________________________ is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Certificate Principal Balance of this Certificate by the aggregate Certificate Principal Balance of all Class M- Certificates, both as specified above) in certain distributions with respect to a Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans (the "Mortgage Loans"), formed and sold by Residential Accredit Loans, Inc. (hereinafter called the "Company," which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement") among the Company, the Master Servicer and __________________, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing as described in the Agreement, to the Person in whose name this Certificate is registered at the close of business on the last day (or if such last day is not a Business Day, the Business Day immediately preceding such last day) of the month immediately preceding the month of such distribution (the "Record Date"), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount (of interest and principal, if any) required to be distributed to Holders of Class M- Certificates on such Distribution Date. Distributions on this Certificate will be made either by the Master Servicer acting on behalf of the Trustee or by a Paying Agent appointed by the Trustee in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Master Servicer or such Paying Agent, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register. Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of the distributions allocable to principal and any Realized Losses allocable hereto. As described above, no transfer of this Class M Certificate will be made unless (i) the Trustee has received either an opinion of counsel or a representation letter, each as described in the Agreement, relating to the permissibility of such transfer under ERISA and Section 4975 of the Code, or (ii) this Certificate is held by a Depository, in which case the Transferee will be deemed to have made representations relating to the permissibility of such transfer under ERISA and Section 4975 of the Code, as described in Section 5.02(e) of the Agreement. In addition, any purported Certificate Owner whose acquisition or holding of this Certificate (or interest herein) was effected in violation of the restrictions in Section 5.02(e) of the Agreement shall indemnify and hold harmless the Company, the Trustee, the Master Servicer, any Subservicer, and the Trust Fund from and against any and all liabilities, claims, costs or expenses incurred by such parties as a result of such acquisition or holding. This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Asset-Backed Pass-Through Certificates of the Series specified hereon (herein collectively called the "Certificates"). The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event Master Servicer funds are advanced with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders. As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them. The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66% of the Percentage Interests of each Class of Certificates affected thereby. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates. As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee in the City and State of New York, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees. The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Company, the Master Servicer, the Trustee and the Certificate Registrar and any agent of the Company, the Master Servicer, the Trustee or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary. This Certificate shall be governed by and construed in accordance with the laws of the State of New York. The obligations created by the Agreement in respect of the Certificates and the Trust Fund created thereby shall terminate upon the payment to Certificateholders of all amounts held by or on behalf of the Trustee and required to be paid to them pursuant to the Agreement following the earlier of (i) the maturity or other liquidation of the last Mortgage Loan subject thereto or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer from the Trust Fund of all remaining Mortgage Loans and all property acquired in respect of such Mortgage Loans, thereby effecting early retirement of the Certificates. The Agreement permits, but does not require, the Master Servicer to (i) purchase at a price determined as provided in the Agreement all remaining Mortgage Loans and all property acquired in respect of any Mortgage Loan or (ii) purchase in whole, but not in part, all of the Certificates from the Holders thereof; provided, that any such option may only be exercised if the Pool Stated Principal Balance of the Mortgage Loans as of the Distribution Date upon which the proceeds of any such purchase are distributed is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans. Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed. Dated: [_________________________], as Trustee By: ____________________________ Authorized Signatory CERTIFICATE OF AUTHENTICATION This is one of the Class A- Certificates referred to in the within-mentioned Agreement. [___________________________], as Certificate Registrar By: ___________________________ Authorized Signatory
ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _________________________________________________________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Asset-Backed Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund. I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address: ____________________________________ Dated: ___________________ Signature by or on behalf of assignor ______________________________________ Signature Guaranteed DISTRIBUTION INSTRUCTIONS The assignee should include the following for purposes of distribution: Distributions shall be made, by wire transfer or otherwise, in immediately available funds to _________________________ for the account of ________________ account number __________________, or, if mailed by check, to ____________________. Applicable statements should be mailed to _______________________ . This information is provided by __________________, the assignee named above, or ___________________, as its agent.
EXHIBIT C FORM OF CLASS B CERTIFICATE THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES AND CLASS M CERTIFICATES [AND CLASS B-1] [CLASS B-2 CERTIFICATES] DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN). THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT. NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 5.02(e) OF THE AGREEMENT OR AN OPINION OF COUNSEL SATISFACTORY TO THE MASTER SERVICER, THE COMPANY AND THE TRUSTEE THAT THE PURCHASE OF THIS CERTIFICATE WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE MASTER SERVICER, THE COMPANY OR THE TRUSTEE TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE. THE FOLLOWING INFORMATION IS PROVIDED SOLELY FOR THE PURPOSES OF APPLYING THE U.S. FEDERAL INCOME TAX ORIGINAL ISSUE DISCOUNT ("OID") RULES TO THIS CERTIFICATE. THE ISSUE DATE OF THIS CERTIFICATE IS ___________ __, ____. ASSUMING THAT THE MORTGAGE LOANS PREPAY AT 100% OF THE PREPAYMENT SPEED ASSUMPTION (AS DESCRIBED IN THE PROSPECTUS SUPPLEMENT), THIS CERTIFICATE HAS BEEN ISSUED WITH NO MORE THAN $[ ] OF OID PER $[1,000] OF INITIAL CERTIFICATE PRINCIPAL BALANCE, THE YIELD TO MATURITY IS [ ]% AND THE AMOUNT OF OID ATTRIBUTABLE TO THE INITIAL ACCRUAL PERIOD IS NO MORE THAN $[ ] PER $[1,000] OF INITIAL CERTIFICATE PRINCIPAL BALANCE, COMPUTED UNDER THE APPROXIMATE METHOD. NO REPRESENTATION IS MADE THAT THE MORTGAGE LOANS WILL PREPAY AT A RATE BASED ON THE PREPAYMENT SPEED ASSUMPTION OR AT ANY OTHER RATE. Certificate No. [ ]% Pass-Through Rate Class B- Subordinate Aggregate Certificate Principal Balance Date of Pooling and Servicing of the Class B- Agreement and Cut-off Date: Certificates as of ___________ 1, ____ the Cut-off Date: $ First Distribution Date: _________ 25, ____ Initial Certificate Principal Balance of this Certificate: Master Servicer: $ Residential Funding Corporation Assumed Final Distribution Date: ___________ 25, ____ MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATE, SERIES ____-___ evidencing a percentage interest in any distributions allocable to the Class B- Certificates with respect to the Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans formed and sold by RESIDENTIAL ACCREDIT LOANS, INC. This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Residential Accredit Loans, Inc., the Master Servicer, the Trustee referred to below or GMAC Mortgage Group, Inc. or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Residential Accredit Loans, Inc., the Master Servicer, the Trustee or GMAC Mortgage Group, Inc. or any of their affiliates. None of the Company, the Master Servicer, GMAC Mortgage Group, Inc. or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that Residential Accredit Loans, Inc. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Certificate Principal Balance of this Certificate by the aggregate Certificate Principal Balance of all Class B- Certificates, both as specified above) in certain distributions with respect to a Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans (the "Mortgage Loans"), formed and sold by Residential Accredit Loans, Inc. (hereinafter called the "Company," which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement") among the Company, the Master Servicer and __________________, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the last day (or if such last day is not a Business Day, the Business Day immediately preceding such last day) of the month next preceding the month of such distribution (the "Record Date"), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount (of interest and principal, if any) required to be distributed to Holders of Class B Certificates on such Distribution Date. Distributions on this Certificate will be made either by the Master Servicer acting on behalf of the Trustee or by a Paying Agent appointed by the Trustee in immediately available funds (by wire transfer or otherwise) for the account of the Person entitled thereto if such Person shall have so notified the Master Servicer or such Paying Agent, or by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register. Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of the distributions allocable to principal and any Realized Losses allocable hereto. No transfer of this Class B Certificate will be made unless such transfer is exempt from the registration requirements of the Securities Act of 1933, as amended, and any applicable state securities laws or is made in accordance with said Act and laws. In the event that such a transfer is to be made, (i) the Trustee or the Company may require an opinion of counsel acceptable to and in form and substance satisfactory to the Trustee and the Company that such transfer is exempt (describing the applicable exemption and the basis therefor) from or is being made pursuant to the registration requirements of the Securities Act of 1933, as amended, and of any applicable statute of any state and (ii) the transferee shall execute an investment letter in the form described by the Agreement. The Holder hereof desiring to effect such transfer shall, and does hereby agree to, indemnify the Trustee, the Company, the Master Servicer and the Certificate Registrar acting on behalf of the Trustee against any liability that may result if the transfer is not so exempt or is not made in accordance with such Federal and state laws. In connection with any such transfer, the Trustee will also require either (i) an opinion of counsel acceptable to and in form and substance satisfactory to the Trustee, the Company and the Master Servicer with respect to the permissibility of such transfer under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and Section 4975 of the Internal Revenue Code (the "Code") and stating, among other things, that the transferee's acquisition of a Class B Certificate will not constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or (ii) a representation letter, in the form as described by Section 5.02(e) of the Agreement, either stating that the transferee is not an employee benefit or other plan subject to the prohibited transaction provisions of ERISA or Section 4975 of the Code (a "Plan"), or any other person (including an investment manager, a named fiduciary or a trustee of any Plan) acting, directly or indirectly, on behalf of or purchasing any Certificate with "plan assets" of any Plan, or stating that the transferee is an insurance company, the source of funds to be used by it to purchase the Certificate is an "insurance company general account" (within the meaning of Department of Labor Prohibited Transaction Class Exemption ("PTCE") 95-60), and the purchase is being made in reliance upon the availability of the exemptive relief afforded under Sections I and III of PTCE 95-60. This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Asset-Backed Pass-Through Certificates of the Series specified hereon (herein collectively called the "Certificates"). The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event Master Servicer funds are advanced with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders. As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them. The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66% of the Percentage Interests of each Class of Certificates affected thereby. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates. As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee in the City and State of New York, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees. The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Company, the Master Servicer, the Trustee and the Certificate Registrar and any agent of the Company, the Master Servicer, the Trustee or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary. This Certificate shall be governed by and construed in accordance with the laws of the State of New York. The obligations created by the Agreement in respect of the Certificates and the Trust Fund created thereby shall terminate upon the payment to Certificateholders of all amounts held by or on behalf of the Trustee and required to be paid to them pursuant to the Agreement following the earlier of (i) the maturity or other liquidation of the last Mortgage Loan subject thereto or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer from the Trust Fund of all remaining Mortgage Loans and all property acquired in respect of such Mortgage Loans, thereby effecting early retirement of the Certificates. The Agreement permits, but does not require, the Master Servicer to (i) purchase at a price determined as provided in the Agreement all remaining Mortgage Loans and all property acquired in respect of any Mortgage Loan or (ii) purchase in whole, but not in part, all of the Certificates from the Holders thereof; provided, that any such option may only be exercised if the Pool Stated Principal Balance of the Mortgage Loans as of the Distribution Date upon which the proceeds of any such purchase are distributed is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans. Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed. Dated: [_________________________], as Trustee By: ____________________________ Authorized Signatory CERTIFICATE OF AUTHENTICATION This is one of the Class A- Certificates referred to in the within-mentioned Agreement. [___________________________], as Certificate Registrar By: ___________________________ Authorized Signatory
ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto _________________________________________________________________________________ (Please print or typewrite name and address including postal zip code of assignee) a Percentage Interest evidenced by the within Mortgage Asset-Backed Pass-Through Certificate and hereby authorizes the transfer of registration of such interest to assignee on the Certificate Register of the Trust Fund. I (We) further direct the Certificate Registrar to issue a new Certificate of a like denomination and Class, to the above named assignee and deliver such Certificate to the following address: ____________________________________ Dated: ___________________ Signature by or on behalf of assignor ______________________________________ Signature Guaranteed DISTRIBUTION INSTRUCTIONS The assignee should include the following for purposes of distribution: Distributions shall be made, by wire transfer or otherwise, in immediately available funds to _________________________ for the account of ________________ account number __________________, or, if mailed by check, to ____________________. Applicable statements should be mailed to _______________________ . This information is provided by __________________, the assignee named above, or ___________________, as its agent.
EXHIBIT D FORM OF CLASS R CERTIFICATE THIS CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON OR A DISQUALIFIED ORGANIZATION (AS DEFINED BELOW). SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"). NO TRANSFER OF THIS CERTIFICATE MAY BE MADE TO ANY PERSON, UNLESS THE TRANSFEREE PROVIDES EITHER A CERTIFICATION PURSUANT TO SECTION 5.02(e) OF THE AGREEMENT OR AN OPINION OF COUNSEL SATISFACTORY TO THE MASTER SERVICER, THE COMPANY AND THE TRUSTEE THAT THE PURCHASE OF THIS CERTIFICATE WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF THE CODE AND WILL NOT SUBJECT THE MASTER SERVICER, THE COMPANY OR THE TRUSTEE TO ANY OBLIGATION OR LIABILITY IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT. ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE MASTER SERVICER AND THE TRUSTEE THAT (1) SUCH TRANSFEREE IS NOT (A) THE UNITED STATES, ANY STATE OR POLITICAL SUBDIVISION THEREOF, ANY POSSESSION OF THE UNITED STATES, OR ANY AGENCY OR INSTRUMENTALITY OF ANY OF THE FOREGOING (OTHER THAN AN INSTRUMENTALITY WHICH IS A CORPORATION IF ALL OF ITS ACTIVITIES ARE SUBJECT TO TAX AND EXCEPT FOR FREDDIE MAC, A MAJORITY OF ITS BOARD OF DIRECTORS IS NOT SELECTED BY SUCH GOVERNMENTAL UNIT), (B) A FOREIGN GOVERNMENT, ANY INTERNATIONAL ORGANIZATION, OR ANY AGENCY OR INSTRUMENTALITY OF EITHER OF THE FOREGOING, (C) ANY ORGANIZATION (OTHER THAN CERTAIN FARMERS' COOPERATIVES DESCRIBED IN SECTION 521 OF THE CODE) WHICH IS EXEMPT FROM THE TAX IMPOSED BY CHAPTER 1 OF THE CODE UNLESS SUCH ORGANIZATION IS SUBJECT TO THE TAX IMPOSED BY SECTION 511 OF THE CODE (INCLUDING THE TAX IMPOSED BY SECTION 511 OF THE CODE ON UNRELATED BUSINESS TAXABLE INCOME), (D) RURAL ELECTRIC AND TELEPHONE COOPERATIVES DESCRIBED IN SECTION 1381(a)(2)(C) OF THE CODE, (E) AN ELECTING LARGE PARTNERSHIP UNDER SECTION 775(a) OF THE CODE (ANY SUCH PERSON DESCRIBED IN THE FOREGOING CLAUSES (A), (B), (C), (D) OR (E) BEING HEREIN REFERRED TO AS A "DISQUALIFIED ORGANIZATION"), OR (F) AN AGENT OF A DISQUALIFIED ORGANIZATION, (2) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX AND (3) SUCH TRANSFEREE SATISFIES CERTAIN ADDITIONAL CONDITIONS RELATING TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE. NOTWITHSTANDING THE REGISTRATION IN THE CERTIFICATE REGISTER OR ANY TRANSFER, SALE OR OTHER DISPOSITION OF THIS CERTIFICATE TO A DISQUALIFIED ORGANIZATION OR AN AGENT OF A DISQUALIFIED ORGANIZATION, SUCH REGISTRATION SHALL BE DEEMED TO BE OF NO LEGAL FORCE OR EFFECT WHATSOEVER AND SUCH PERSON SHALL NOT BE DEEMED TO BE A CERTIFICATEHOLDER FOR ANY PURPOSE HEREUNDER, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF DISTRIBUTIONS ON THIS CERTIFICATE. EACH HOLDER OF THIS CERTIFICATE BY ACCEPTANCE OF THIS CERTIFICATE SHALL BE DEEMED TO HAVE CONSENTED TO THE PROVISIONS OF THIS PARAGRAPH. Certificate No. [ ]% Pass-Through Rate Class R Senior Aggregate Initial Certificate Principal Balance of the Date of Pooling and Servicing Class R Certificates: Agreement and Cut-off Date: $100.00 ___________ 1, ____ Initial Certificate Principal First Distribution Date: Balance of this Certificate: _________ 25, ____ $ Master Servicer: Percentage Interest: Residential Funding Corporation % Assumed Final Distribution Date: CUSIP 76110F- ___________ 25, ____ MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATE, SERIES ____-___ evidencing a percentage interest in any distributions allocable to the Class R Certificates with respect to the Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans formed and sold by RESIDENTIAL ACCREDIT LOANS, INC. This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Residential Accredit Loans, Inc., the Master Servicer, the Trustee referred to below or GMAC Mortgage Group, Inc. or any of their affiliates. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or by Residential Accredit Loans, Inc., the Master Servicer, the Trustee or GMAC Mortgage Group, Inc. or any of their affiliates. None of the Company, the Master Servicer, GMAC Mortgage Group, Inc. or any of their affiliates will have any obligation with respect to any certificate or other obligation secured by or payable from payments on the Certificates. This certifies that is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Initial Certificate Principal Balance of this Certificate by the aggregate Initial Certificate Principal Balance of all Class R Certificates, both as specified above) in certain distributions with respect to the Trust Fund consisting primarily of a pool of conventional one- to four-family fixed interest rate first mortgage loans (the "Mortgage Loans"), formed and sold by Residential Accredit Loans, Inc. (hereinafter called the "Company," which term includes any successor entity under the Agreement referred to below). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as specified above (the "Agreement") among the Company, the Master Servicer and __________________, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing as described in the Agreement, to the Person in whose name this Certificate is registered at the close of business on the last day (or if such last day is not a Business Day, the Business Day immediately preceding such last day) of the month immediately preceding the month of such distribution (the "Record Date"), from the Available Distribution Amount in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount (of interest and principal, if any) required to be distributed to Holders of Class R Certificates on such Distribution Date. Each Holder of this Certificate will be deemed to have agreed to be bound by the restrictions set forth in the Agreement to the effect that (i) each person holding or acquiring any Ownership Interest in this Certificate must be a United States Person and a Permitted Transferee, (ii) the transfer of any Ownership Interest in this Certificate will be conditioned upon the delivery to the Trustee of, among other things, an affidavit to the effect that it is a United States Person and Permitted Transferee, (iii) any attempted or purported transfer of any Ownership Interest in this Certificate in violation of such restrictions will be absolutely null and void and will vest no rights in the purported transferee, and (iv) if any person other than a United States Person and a Permitted Transferee acquires any Ownership Interest in this Certificate in violation of such restrictions, then the Company will have the right, in its sole discretion and without notice to the Holder of this Certificate, to sell this Certificate to a purchaser selected by the Company, which purchaser may be the Company, or any affiliate of the Company, on such terms and conditions as the Company may choose. Notwithstanding the above, the final distribution on this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency appointed by the Trustee for that purpose in the City and State of New York. The Initial Certificate Principal Balance of this Certificate is set forth above. The Certificate Principal Balance hereof will be reduced to the extent of distributions allocable to principal and any Realized Losses allocable hereto. Notwithstanding the reduction of the Certificate Principal Balance hereof to zero, this Certificate will remain outstanding under the Agreement and the Holder hereof may have additional obligations with respect to this Certificate, including tax liabilities, and may be entitled to certain additional distributions hereon, in accordance with the terms and provisions of the Agreement. No transfer of this Class R Certificate will be made unless the Trustee has received either (i) an opinion of counsel acceptable to and in form and substance satisfactory to the Trustee, the Company and the Master Servicer with respect to the permissibility of such transfer under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and Section 4975 of the Internal Revenue Code (the "Code") and stating, among other things, that the transferee's acquisition of a Class R Certificate will not constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or (ii) a representation letter, in the form as described by the Agreement, stating that the transferee is not an employee benefit or other plan subject to the prohibited transaction provisions of ERISA or Section 4975 of the Code (a "Plan"), or any other person (including an investment manager, a named fiduciary or a trustee of any Plan) acting, directly or indirectly, on behalf of or purchasing any Certificate with "plan assets" of any Plan. This Certificate is one of a duly authorized issue of Certificates issued in several Classes designated as Mortgage Asset-Backed Pass-Through Certificates of the Series specified hereon (herein collectively called the "Certificates"). The Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement. In the event Master Servicer funds are advanced with respect to any Mortgage Loan, such advance is reimbursable to the Master Servicer, to the extent provided in the Agreement, from related recoveries on such Mortgage Loan or from other cash that would have been distributable to Certificateholders. As provided in the Agreement, withdrawals from the Custodial Account and/or the Certificate Account created for the benefit of Certificateholders may be made by the Master Servicer from time to time for purposes other than distributions to Certificateholders, such purposes including without limitation reimbursement to the Company and the Master Servicer of advances made, or certain expenses incurred, by either of them. The Agreement permits, with certain exceptions therein provided, the amendment of the Agreement and the modification of the rights and obligations of the Company, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement at any time by the Company, the Master Servicer and the Trustee with the consent of the Holders of Certificates evidencing in the aggregate not less than 66% of the Percentage Interests of each Class of Certificates affected thereby. Any such consent by the Holder of this Certificate shall be conclusive and binding on such Holder and upon all future holders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange herefor or in lieu hereof whether or not notation of such consent is made upon the Certificate. The Agreement also permits the amendment thereof in certain circumstances without the consent of the Holders of any of the Certificates and, in certain additional circumstances, without the consent of the Holders of certain Classes of Certificates. As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register upon surrender of this Certificate for registration of transfer at the offices or agencies appointed by the Trustee in the City and State of New York, duly endorsed by, or accompanied by an assignment in the form below or other written instrument of transfer in form satisfactory to the Trustee and the Certificate Registrar duly executed by the Holder hereof or such Holder's attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest will be issued to the designated transferee or transferees. The Certificates are issuable only as registered Certificates without coupons in Classes and in denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for new Certificates of authorized denominations evidencing the same Class and aggregate Percentage Interest, as requested by the Holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Company, the Master Servicer, the Trustee and the Certificate Registrar and any agent of the Company, the Master Servicer, the Trustee or the Certificate Registrar may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and neither the Company, the Master Servicer, the Trustee nor any such agent shall be affected by notice to the contrary. This Certificate shall be governed by and construed in accordance with the laws of the State of New York. The obligations created by the Agreement in respect of the Certificates and the Trust Fund created thereby shall terminate upon the payment to Certificateholders of all amounts held by or on behalf of the Trustee and required to be paid to them pursuant to the Agreement following the earlier of (i) the maturity or other liquidation of the last Mortgage Loan subject thereto or the disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and (ii) the purchase by the Master Servicer from the Trust Fund of all remaining Mortgage Loans and all property acquired in respect of such Mortgage Loans, thereby effecting early retirement of the Certificates. The Agreement permits, but does not require, the Master Servicer to (i) purchase at a price determined as provided in the Agreement all remaining Mortgage Loans and all property acquired in respect of any Mortgage Loan or (ii) purchase in whole, but not in part, all of the Certificates from the Holders thereof; provided, that any such option may only be exercised if the Pool Stated Principal Balance of the Mortgage Loans as of the Distribution Date upon which the proceeds of any such purchase are distributed is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purpose have the same effect as if set forth at this place. Unless the certificate of authentication hereon has been executed by the Certificate Registrar, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.
EXHIBIT E FORM OF SELLER/SERVICER CONTRACT This Seller/Servicer Contract (as may be amended, supplemented or otherwise modified from time to time, this "Contract") is made this ___________ day of _____________________, 20_______, by and between Residential Funding Corporation, its successors and assigns ("Residential Funding") and _________________________________________________________ (the "Seller/Servicer," and, together with Residential Funding, the "parties" and each, individually, a "party"). WHEREAS, the Seller/Servicer desires to sell Loans to, and/or service Loans for, Residential Funding, and Residential Funding desires to purchase Loans from the Seller/Servicer and/or have the Seller/Servicer service various of its Loans, pursuant to the terms of this Contract and the Residential Funding Seller and Servicer Guides incorporated herein by reference, as amended, supplemented or otherwise modified, from time to time (together, the "Guides"). NOW, THEREFORE, in consideration of the premises, and the terms, conditions and agreements set forth below, the parties agree as follows: 1. INCORPORATION OF GUIDES BY REFERENCE. The Seller/Servicer acknowledges that it has received and read the Guides. All provisions of the Guides are incorporated by reference into and made a part of this Contract, and shall be binding upon the parties; provided, however, that the Seller/Servicer shall be entitled to sell Loans to and/or service Loans for Residential Funding only if and for so long as it shall have been authorized to do so by Residential Funding in writing. Specific reference in this Contract to particular provisions of the Guides and not to other provisions does not mean that those provisions of the Guides not specifically cited in this Contract are not applicable. All terms used herein shall have the same meanings as such terms have in the Guides, unless the context clearly requires otherwise. 2. AMENDMENTS. This Contract may not be amended or modified orally, and no provision of this Contract may be waived or amended except in writing signed by the party against whom enforcement is sought. Such a written waiver or amendment must expressly reference this Contract. However, by their terms, the Guides may be amended or supplemented by Residential Funding from time to time. Any such amendment(s) to the Guides shall be binding upon the parties hereto. 3. REPRESENTATIONS AND WARRANTIES. a. Reciprocal Representations and Warranties. The Seller/Servicer and Residential Funding each represents and warrants to the other that as of the date of this Contract: (1) Each party is duly organized, validly existing, and in good standing under the laws of its jurisdiction of organization, is qualified, if necessary, to do business and in good standing in each jurisdiction in which it is required to be so qualified, and has the requisite power and authority to enter into this Contract and all other agreements which are contemplated by this Contract and to carry out its obligations hereunder and under the Guides and under such other agreements. (2) This Contract has been duly authorized, executed and delivered by each party and constitutes a valid and legally binding agreement of each party enforceable in accordance with its terms. (3) There is no action, proceeding or investigation pending or threatened, and no basis therefor is known to either party, that could affect the validity or prospective validity of this Contract. (4) Insofar as its capacity to carry out any obligation under this Contract is concerned, neither party is in violation of any charter, articles of incorporation, bylaws, mortgage, indenture, indebtedness, agreement, instrument, judgment, decree, order, statute, rule or regulation and none of the foregoing adversely affects its capacity to fulfill any of its obligations under this Contract. Its execution of, and performance pursuant to, this Contract will not result in a violation of any of the foregoing. b. Seller/Servicer's Representations, Warranties and Covenants. In addition to the representations, warranties and covenants made by the Seller/Servicer pursuant to subparagraph (a) of this paragraph 3, the Seller/Servicer makes the representations, warranties and covenants set forth in the Guides and, upon request, agrees to deliver to Residential Funding the certified Resolution of Board of Directors which authorizes the execution and delivery of this Contract. 4. REMEDIES OF RESIDENTIAL FUNDING. If an Event of Seller Default or an Event of Servicer Default shall occur, Residential Funding may, at its option, exercise one or more of those remedies set forth in the Guides. 5. SELLER/SERVICER'S STATUS AS INDEPENDENT CONTRACTOR. At no time shall the Seller/Servicer represent that it is acting as an agent of Residential Funding. The Seller/Servicer shall, at all times, act as an independent contractor. 6. PRIOR AGREEMENTS SUPERSEDED. This Contract restates, amends and supersedes any and all prior Seller Contracts or Servicer Contracts between the parties except that any subservicing agreement executed by the Seller/Servicer in connection with any loan-security exchange transaction shall not be affected. 7. ASSIGNMENT. This Contract may not be assigned or transferred, in whole or in part, by the Seller/Servicer without the prior written consent of Residential Funding. Residential Funding may sell, assign, convey, hypothecate, pledge or in any other way transfer, in whole or in part, without restriction, its rights under this Contract and the Guides with respect to any Commitment or Loan. 8. NOTICES. All notices, requests, demands or other communications that are to be given under this Contract shall be in writing, addressed to the appropriate parties and sent by telefacsimile or by overnight courier or by United States mail, postage prepaid, to the addresses and telefacsimile numbers specified below. However, another name, address and/or telefacsimile number may be substituted by the Seller/Servicer pursuant to the requirements of this paragraph 8, or Residential Funding pursuant to an amendment to the Guides. If to Residential Funding, notices must be sent to the appropriate address or telefacsimile number specified in the Guides. If to the Seller/Servicer, notice must be sent to: Attention: Telefacsimile Number: ( ) - 9. JURISDICTION AND VENUE. ---------------------------------------------------------------------------------------------- Each of the parties irrevocably submits to the jurisdiction of any state or federal court located in Hennepin County, Minnesota, over any action, suit or proceeding to enforce or defend any right under this Contract or otherwise arising from any loan sale or servicing relationship existing in connection with this Contract, and each of the parties irrevocably agrees that all claims in respect of any such action or proceeding may be heard or determined in such state or federal court. Each of the parties irrevocably waives the defense of an inconvenient forum to the maintenance of any such action or proceeding and any other substantive or procedural rights or remedies it may have with respect to the maintenance of any such action or proceeding in any such forum. Each of the parties agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in any other jurisdiction by suit on the judgment or in any other manner provided by law. Each of the parties further agrees not to institute any legal actions or proceedings against the other party or any director, officer, employee, attorney, agent or property of the other party, arising out of or relating to this Contract in any court other than as hereinabove specified in this paragraph 9. 10. MISCELLANEOUS. This Contract, including all documents incorporated by reference herein, constitutes the entire understanding between the parties hereto and supersedes all other agreements, covenants, representations, warranties, understandings and communications between the parties, whether written or oral, with respect to the transactions contemplated by this Contract. All paragraph headings contained herein are for convenience only and shall not be construed as part of this Contract. Any provision of this Contract that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provision in any other jurisdiction, and, to this end, the provisions hereof are severable. This Contract shall be governed by, and construed and enforced in accordance with, applicable federal laws and the laws of the State of Minnesota.
IN WITNESS WHEREOF, the duly authorized officers of the Seller/Servicer and Residential Funding have executed this Seller/Servicer Contract as of the date first above written. ATTEST: SELLER/SERVICER [Corporate Seal] (Name of Seller/Servicer) By: By: (Signature) (Signature) By: By: (Typed Name) (Typed Name) Title: Title: ======================================= ========================================================= ATTEST: RESIDENTIAL FUNDING CORPORATION [Corporate Seal] By: By: (Signature) (Signature) By: By: (Typed Name) (Typed Name) Title: Title:
EXHIBIT F FORMS OF REQUEST FOR RELEASE DATE: TO: RE: REQUEST FOR RELEASE OF DOCUMENTS In connection with the administration of the pool of Mortgage Loans held by you for the referenced pool, we request the release of the Mortgage Loan File described below. Pooling and Servicing Agreement Dated: Series#: Account#: Pool#: Loan#: MIN#: Borrower Name(s): Reason for Document Request: (circle one) Mortgage Loan Prepaid in Full Mortgage Loan Repurchased "We hereby certify that all amounts received or to be received in connection with such payments which are required to be deposited have been or will be so deposited as provided in the Pooling and Servicing Agreement." Residential Funding Corporation Authorized Signature ****************************************************************************** TO CUSTODIAN/TRUSTEE: Please acknowledge this request, and check off documents being enclosed with a copy of this form. You should retain this form for your files in accordance with the terms of the Pooling and Servicing Agreement. Enclosed Documents: [ ] Promissory Note [ ] Primary Insurance Policy [ ] Mortgage or Deed of Trust [ ] Assignment(s) of Mortgage or Deed of Trust [ ] Title Insurance Policy [ ] Other: Name: Title: Date:
EXHIBIT G-1 FORM OF TRANSFER AFFIDAVIT AND AGREEMENT STATE OF ) ) ss.: COUNTY OF ) [NAME OF OFFICER], being first duly sworn, deposes and says: 1. That he is [Title of Officer] of [Name of Owner] (record or beneficial owner of the Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, Class R (the "Owner")), a [savings institution] [corporation] duly organized and existing under the laws of [the State of ] [the United States], on behalf of which he makes this affidavit and agreement. 2. That the Owner (i) is not and will not be a "disqualified organization" or an electing large partnership as of [date of transfer] within the meaning of Sections 860E(e)(5) and 775, respectively, of the Internal Revenue Code of 1986, as amended (the "Code") or an electing large partnership under Section 775(a) of the Code, (ii) will endeavor to remain other than a disqualified organization for so long as it retains its ownership interest in the Class R Certificates, and (iii) is acquiring the Class R Certificates for its own account or for the account of another Owner from which it has received an affidavit and agreement in substantially the same form as this affidavit and agreement. (For this purpose, a "disqualified organization" means an electing large partnership under Section 775 of the Code, the United States, any state or political subdivision thereof, any agency or instrumentality of any of the foregoing (other than an instrumentality all of the activities of which are subject to tax and, except for the Federal Home Loan Mortgage Corporation, a majority of whose board of directors is not selected by any such governmental entity) or any foreign government, international organization or any agency or instrumentality of such foreign government or organization, any rural electric or telephone cooperative, or any organization (other than certain farmers' cooperatives) that is generally exempt from federal income tax unless such organization is subject to the tax on unrelated business taxable income). 3. That the Owner is aware (i) of the tax that would be imposed on transfers of Class R Certificates to disqualified organizations or electing large partnerships, under the Code, that applies to all transfers of Class R Certificates after March 31, 1988; (ii) that such tax would be on the transferor (or, with respect to transfers to electing large partnerships, on each such partnership), or, if such transfer is through an agent (which person includes a broker, nominee or middleman) for a disqualified organization, on the agent; (iii) that the person (other than with respect to transfers to electing large partnerships) otherwise liable for the tax shall be relieved of liability for the tax if the transferee furnishes to such person an affidavit that the transferee is not a disqualified organization and, at the time of transfer, such person does not have actual knowledge that the affidavit is false; and (iv) that the Class R Certificates may be "noneconomic residual interests" within the meaning of Treasury regulations promulgated pursuant to the Code and that the transferor of a noneconomic residual interest will remain liable for any taxes due with respect to the income on such residual interest, unless no significant purpose of the transfer was to impede the assessment or collection of tax. 4. That the Owner is aware of the tax imposed on a "pass-through entity" holding Class R Certificates if either the pass-through entity is an electing large partnership under Section 775 of the Code or if at any time during the taxable year of the pass-through entity a disqualified organization is the record holder of an interest in such entity. (For this purpose, a "pass through entity" includes a regulated investment company, a real estate investment trust or common trust fund, a partnership, trust or estate, and certain cooperatives.) 5. The Owner is either (i) a citizen or resident of the United States, (ii) a corporation, partnership or other entity treated as a corporation or a partnership for U.S. federal income tax purposes and created or organized in or under the laws of the United States, any state thereof or the District of Columbia (other than a partnership that is not treated as a United States person under any applicable Treasury regulations), (iii) an estate that is described in Section 7701(a)(30)(D) of the Code, or (iv) a trust that is described in Section 7701(a)(30)(E) of the Code. 6. The Owner hereby agrees that it will not cause income from the Class R Certificates to be attributable to a foreign permanent establishment or fixed base (within the meaning of an applicable income tax treaty) of the Owner or another United States taxpayer. 7. That the Owner is aware that the Trustee will not register the transfer of any Class R Certificates unless the transferee, or the transferee's agent, delivers to it an affidavit and agreement, among other things, in substantially the same form as this affidavit and agreement. The Owner expressly agrees that it will not consummate any such transfer if it knows or believes that any of the representations contained in such affidavit and agreement are false. 8. That the Owner has reviewed the restrictions set forth on the face of the Class R Certificates and the provisions of Section 5.02(f) of the Pooling and Servicing Agreement under which the Class R Certificates were issued (in particular, clause (iii)(A) and (iii)(B) of Section 5.02(f) which authorize the Trustee to deliver payments to a person other than the Owner and negotiate a mandatory sale by the Trustee in the event the Owner holds such Certificates in violation of Section 5.02(f)). The Owner expressly agrees to be bound by and to comply with such restrictions and provisions. 9. That the Owner consents to any additional restrictions or arrangements that shall be deemed necessary upon advice of counsel to constitute a reasonable arrangement to ensure that the Class R Certificates will only be owned, directly or indirectly, by an Owner that is not a disqualified organization. 10. The Owner's Taxpayer Identification Number is . 11. This affidavit and agreement relates only to the Class R Certificates held by the Owner and not to any other holder of the Class R Certificates. The Owner understands that the liabilities described herein relate only to the Class R Certificates. 12. That no purpose of the Owner relating to the transfer of any of the Class R Certificates by the Owner is or will be to impede the assessment or collection of any tax; in making this representation, the Owner warrants that the Owner is familiar with (i) Treasury Regulation Section 1.860E-1(c) and recent amendments thereto, effective as of July 19, 2002, and (ii) the preamble describing the adoption of the amendments to such regulation, which is attached hereto as Exhibit 1. 13. That the Owner has no present knowledge or expectation that it will be unable to pay any United States taxes owed by it so long as any of the Certificates remain outstanding. In this regard, the Owner hereby represents to and for the benefit of the person from whom it acquired the Class R Certificate that the Owner intends to pay taxes associated with holding such Class R Certificate as they become due, fully understanding that it may incur tax liabilities in excess of any cash flows generated by the Class R Certificate. 14. That the Owner has no present knowledge or expectation that it will become insolvent or subject to a bankruptcy proceeding for so long as any of the Class R Certificates remain outstanding. 15. The Purchaser is not an employee benefit plan or other plan subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or Section 4975 of the Code, or an investment manager, named fiduciary or a trustee of any such plan, or any other Person acting, directly or indirectly, on behalf of or purchasing any Certificate with "plan assets" of any such plan.
IN WITNESS WHEREOF, the Owner has caused this instrument to be executed on its behalf, pursuant to the authority of its Board of Directors, by its [Title of Officer] and its corporate seal to be hereunto attached, attested by its [Assistant] Secretary, this ___________ day of _______________, 200___. [NAME OF OWNER] By: ____________________________ [Name of Officer] [Title of Officer] [Corporate Seal] ATTEST: [Assistant] Secretary Personally appeared before me the above-named [Name of Officer], known or proved to me to be the same person who executed the foregoing instrument and to be the [Title of Officer] of the Owner, and acknowledged to me that he executed the same as his free act and deed and the free act and deed of the Owner. Subscribed and sworn before me this ___________ day of __________, 200_______. NOTARY PUBLIC COUNTY OF _______________________ STATE OF ________________________ My Commission expires the _______ day of ________, 20_____.
EXHIBIT 1 DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 602 [TD 9004] RIN 1545-AW98 Real Estate Mortgage Investment Conduits AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations. ----------------------------------------------------------------------- SUMMARY: This document contains final regulations relating to safe harbor transfers of noneconomic residual interests in real estate mortgage investment conduits (REMICs). The final regulations provide additional limitations on the circumstances under which transferors may claim safe harbor treatment. DATES: Effective Date: These regulations are effective July 19, 2002. Applicability Date: For dates of applicability, see Sec. 1.860E- (1)(c)(10). FOR FURTHER INFORMATION CONTACT: Courtney Shepardson at (202) 622-3940 (not a toll-free number). SUPPLEMENTARY INFORMATION: Paperwork Reduction Act The collection of information in this final rule has been reviewed and, pending receipt and evaluation of public comments, approved by the Office of Management and Budget (OMB) under 44 U.S.C. 3507 and assigned control number 1545-1675. The collection of information in this regulation is in Sec. 1.860E- 1(c)(5)(ii). This information is required to enable the IRS to verify that a taxpayer is complying with the conditions of this regulation. The collection of information is mandatory and is required. Otherwise, the taxpayer will not receive the benefit of safe harbor treatment as provided in the regulation. The likely respondents are businesses and other for-profit institutions. Comments on the collection of information should be sent to the Office of Management and Budget, Attn: Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC, 20503, with copies to the Internal Revenue Service, Attn: IRS Reports Clearance Officer, W:CAR:MP:FP:S, Washington, DC 20224. Comments on the collection of information should be received by September 17, 2002. Comments are specifically requested concerning: Whether the collection of information is necessary for the proper performance of the functions of the Internal Revenue Service, including whether the information will have practical utility; The accuracy of the estimated burden associated with the collection of information (see below); How the quality, utility, and clarity of the information to be collected may be enhanced; How the burden of complying with the collection of information may be minimized, including through the application of automated collection techniques or other forms of information technology; and Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of service to provide information. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by the Office of Management and Budget. The estimated total annual reporting burden is 470 hours, based on an estimated number of respondents of 470 and an estimated average annual burden hours per respondent of one hour. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103. Background This document contains final regulations regarding the proposed amendments to 26 CFR part 1 under section 860E of the Internal Revenue Code (Code). The regulations provide the circumstances under which a transferor of a noneconomic REMIC residual interest meeting the investigation and representation requirements may avail itself of the safe harbor by satisfying either the formula test or the asset test. Final regulations governing REMICs, issued in 1992, contain rules governing the transfer of noneconomic REMIC residual interests. In general, a transfer of a noneconomic residual interest is disregarded for all tax purposes if a significant purpose of the transfer is to [[Page 47452]] enable the transferor to impede the assessment or collection of tax. A purpose to impede the assessment or collection of tax (a wrongful purpose) exists if the transferor, at the time of the transfer, either knew or should have known that the transferee would be unwilling or unable to pay taxes due on its share of the REMIC's taxable income. Under a safe harbor, the transferor of a REMIC noneconomic residual interest is presumed not to have a wrongful purpose if two requirements are satisfied: (1) the transferor conducts a reasonable investigation of the transferee's financial condition (the investigation requirement); and (2) the transferor secures a representation from the transferee to the effect that the transferee understands the tax obligations associated with holding a residual interest and intends to pay those taxes (the representation requirement). The IRS and Treasury have been concerned that some transferors of noneconomic residual interests claim they satisfy the safe harbor even in situations where the economics of the transfer clearly indicate the transferee is unwilling or unable to pay the tax associated with holding the interest. For this reason, on February 7, 2000, the IRS published in the Federal Register (65 FR 5807) a notice of proposed rulemaking (REG-100276-97; REG-122450-98) designed to clarify the safe harbor by adding the "formula test," an economic test. The proposed regulation provides that the safe harbor is unavailable unless the present value of the anticipated tax liabilities associated with holding the residual interest does not exceed the sum of: (1) The present value of any consideration given to the transferee to acquire the interest; (2) the present value of the expected future distributions on the interest; and (3) the present value of the anticipated tax savings associated with holding the interest as the REMIC generates losses. The notice of proposed rulemaking also contained rules for FASITs. Section 1.860H-6(g) of the proposed regulations provides requirements for transfers of FASIT ownership interests and adopts a safe harbor by reference to the safe harbor provisions of the REMIC regulations. In January 2001, the IRS published Rev. Proc. 2001-12 (2001-3 I.R.B. 335) to set forth an alternative safe harbor that taxpayers could use while the IRS and the Treasury considered comments on the proposed regulations. Under the alternative safe harbor, if a transferor meets the investigation requirement and the representation requirement but the transfer fails to meet the formula test, the transferor may invoke the safe harbor if the transferee meets a two- prong test (the asset test). A transferee generally meets the first prong of this test if, at the time of the transfer, and in each of the two years preceding the year of transfer, the transferee's gross assets exceed $100 million and its net assets exceed $10 million. A transferee generally meets the second prong of this test if it is a domestic, taxable corporation and agrees in writing not to transfer the interest to any person other than another domestic, taxable corporation that also satisfies the requirements of the asset test. A transferor cannot rely on the asset test if the transferor knows, or has reason to know, that the transferee will not comply with its written agreement to limit the restrictions on subsequent transfers of the residual interest. Rev. Proc. 2001-12 provides that the asset test fails to be satisfied in the case of a transfer or assignment of a noneconomic residual interest to a foreign branch of an otherwise eligible transferee. If such a transfer or assignment were permitted, a corporate taxpayer might seek to claim that the provisions of an applicable income tax treaty would resource excess inclusion income as foreign source income, and that, as a consequence, any U.S. tax liability attributable to the excess inclusion income could be offset by foreign tax credits. Such a claim would impede the assessment or collection of U.S. tax on excess inclusion income, contrary to the congressional purpose of assuring that such income will be taxable in all events. See, e.g., sections 860E(a)(1), (b), (e) and 860G(b) of the Code. The Treasury and the IRS have learned that certain taxpayers transferring noneconomic residual interests to foreign branches have attempted to rely on the formula test to obtain safe harbor treatment in an effort to impede the assessment or collection of U.S. tax on excess inclusion income. Accordingly, the final regulations provide that if a noneconomic residual interest is transferred to a foreign permanent establishment or fixed base of a U.S. taxpayer, the transfer is not eligible for safe harbor treatment under either the asset test or the formula test. The final regulations also require a transferee to represent that it will not cause income from the noneconomic residual interest to be attributable to a foreign permanent establishment or fixed base. Section 1.860E-1(c)(8) provides computational rules that a taxpayer may use to qualify for safe harbor status under the formula test. Section 1.860E-1(c)(8)(i) provides that the transferee is presumed to pay tax at a rate equal to the highest rate of tax specified in section 11(b). Some commentators were concerned that this presumed rate of taxation was too high because it does not take into consideration taxpayers subject to the alternative minimum tax rate. In light of the comments received, this provision has been amended in the final regulations to allow certain transferees that compute their taxable income using the alternative minimum tax rate to use the alternative minimum tax rate applicable to corporations. Additionally, Sec. 1.860E-1(c)(8)(iii) provides that the present values in the formula test are to be computed using a discount rate equal to the applicable Federal short-term rate prescribed by section 1274(d). This is a change from the proposed regulation and Rev. Proc. 2001-12. In those publications the provision stated that "present values are computed using a discount rate equal to the applicable Federal rate prescribed in section 1274(d) compounded semiannually" and that "[a] lower discount rate may be used if the transferee can demonstrate that it regularly borrows, in the course of its trade or business, substantial funds at such lower rate from an unrelated third party." The IRS and the Treasury Department have learned that, based on this provision, certain taxpayers have been attempting to use unrealistically low or zero interest rates to satisfy the formula test, frustrating the intent of the test. Furthermore, the Treasury Department and the IRS believe that a rule allowing for a rate other than a rate based on an objective index would add unnecessary complexity to the safe harbor. As a result, the rule in the proposed regulations that permits a transferee to use a lower discount rate, if the transferee can demonstrate that it regularly borrows substantial funds at such lower rate, is not included in the final regulations; and the Federal short-term rate has been substituted for the applicable Federal rate. To simplify taxpayers' computations, the final regulations allow use of any of the published short-term rates, provided that the present values are computed with a corresponding period of compounding. With the exception of the provisions relating to transfers to foreign branches, these changes generally have the proposed applicability date of February 4, 2000, but taxpayers may choose to apply the interest rate formula set forth in the proposed regulation and Rev. Proc. 2001-12 for transfers occurring before August 19, 2002. It is anticipated that when final regulations are adopted with respect to [[Page 47453]] FASITs, Sec. 1.860H-6(g) of the proposed regulations will be adopted in substantially its present form, with the result that the final regulations contained in this document will also govern transfers of FASIT ownership interests with substantially the same applicability date as is contained in this document. Effect on Other Documents Rev. Proc. 2001-12 (2001-3 I.R.B. 335) is obsolete for transfers of noneconomic residual interests in REMICs occurring on or after August 19, 2002. Special Analyses It is hereby certified that these regulations will not have a significant economic impact on a substantial number of small entities. This certification is based on the fact that it is unlikely that a substantial number of small entities will hold REMIC residual interests. Therefore, a Regulatory Flexibility Analysis under the Regulatory Flexibility Act (5 U.S.C. chapter 6) is not required. It has been determined that this Treasury decision is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory assessment is not required. It also has been determined that sections 553(b) and 553(d) of the Administrative Procedure Act (5 U.S.C. chapter 5) do not apply to these regulations. Drafting Information The principal author of these regulations is Courtney Shepardson. However, other personnel from the IRS and Treasury Department participated in their development. List of Subjects 26 CFR Part 1 Income taxes, Reporting and record keeping requirements. 26 CFR Part 602 Reporting and record keeping requirements. Adoption of Amendments to the Regulations Accordingly, 26 CFR parts 1 and 602 are amended as follows: PART 1--INCOME TAXES Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * *
EXHIBIT G-2 FORM OF TRANSFEROR CERTIFICATE _________ , 20 Residential Accredit Loans, Inc. 8400 Normandale Lake Boulevard Suite 250 Minneapolis, Minnesota 55437 __________________ __________________ __________________ Attention: Residential Funding Corporation Series ____-___ Re: Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, Class R Ladies and Gentlemen: This letter is delivered to you in connection with the transfer by __________________________________________________________________ (the "Seller") to _____________________________________________________________________(the "Purchaser") of $_________________________ Initial Certificate Principal Balance of Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, Class R (the "Certificates"), pursuant to Section 5.02 of the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of ___________ 1, ____ among Residential Accredit Loans, Inc., as seller (the "Company"), Residential Funding Corporation, as master servicer (the "Master Servicer"), and __________________, as trustee (the "Trustee"). All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that: 1. No purpose of the Seller relating to the transfer of the Certificate by the Seller to the Purchaser is or will be to impede the assessment or collection of any tax. 2. The Seller understands that the Purchaser has delivered to the Trustee and the Master Servicer a transfer affidavit and agreement in the form attached to the Pooling and Servicing Agreement as Exhibit G-1. The Seller does not know or believe that any representation contained therein is false. 3. The Seller has at the time of the transfer conducted a reasonable investigation of the financial condition of the Purchaser as contemplated by Treasury Regulations Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Seller has determined that the Purchaser has historically paid its debts as they become due and has found no significant evidence to indicate that the Purchaser will not continue to pay its debts as they become due in the future. The Seller understands that the transfer of a Class R Certificate may not be respected for United States income tax purposes (and the Seller may continue to be liable for United States income taxes associated therewith) unless the Seller has conducted such an investigation. 4. The Seller has no actual knowledge that the proposed Transferee is not both a United States Person and a Permitted Transferee. Very truly yours, (Seller) By: Name: Title:
EXHIBIT H FORM OF INVESTOR REPRESENTATION LETTER _______________, 20 Residential Accredit Loans, Inc. 8400 Normandale Lake Boulevard Suite 250 Minneapolis, MN 55437 __________________ __________________ __________________ Residential Funding Corporation 8400 Normandale Lake Boulevard Suite 250 Minneapolis, MN 55437 Attention: Residential Funding Corporation Series ____-___ RE: Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, [Class B-] Ladies and Gentlemen: _____________________________________________ (the "Purchaser") intends to purchase from ___________________________________________________________ (the "Seller") $ _________________________ Initial Certificate Principal Balance of Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, Class (the "Certificates"), issued pursuant to the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of ___________ 1, ____ among Residential Accredit Loans, Inc., as seller (the "Company"), Residential Funding Corporation, as master servicer (the "Master Servicer"), and __________________, as trustee (the "Trustee"). All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Purchaser hereby certifies, represents and warrants to, and covenants with, the Company, the Trustee and the Master Servicer that: 1. The Purchaser understands that (a) the Certificates have not been and will not be registered or qualified under the Securities Act of 1933, as amended (the "Act") or any state securities law, (b) the Company is not required to so register or qualify the Certificates, (c) the Certificates may be resold only if registered and qualified pursuant to the provisions of the Act or any state securities law, or if an exemption from such registration and qualification is available, (d) the Pooling and Servicing Agreement contains restrictions regarding the transfer of the Certificates and (e) the Certificates will bear a legend to the foregoing effect. 2. The Purchaser is acquiring the Certificates for its own account for investment only and not with a view to or for sale in connection with any distribution thereof in any manner that would violate the Act or any applicable state securities laws. 3. The Purchaser is (a) a substantial, sophisticated institutional investor having such knowledge and experience in financial and business matters, and, in particular, in such matters related to securities similar to the Certificates, such that it is capable of evaluating the merits and risks of investment in the Certificates, (b) able to bear the economic risks of such an investment and (c) an "accredited investor" within the meaning of Rule 501(a) promulgated pursuant to the Act. 4. The Purchaser has been furnished with, and has had an opportunity to review (a) [a copy of the Private Placement Memorandum, dated , 20 , relating to the Certificates (b)] a copy of the Pooling and Servicing Agreement and [b] [c] such other information concerning the Certificates, the Mortgage Loans and the Company as has been requested by the Purchaser from the Company or the Seller and is relevant to the Purchaser's decision to purchase the Certificates. The Purchaser has had any questions arising from such review answered by the Company or the Seller to the satisfaction of the Purchaser. [If the Purchaser did not purchase the Certificates from the Seller in connection with the initial distribution of the Certificates and was provided with a copy of the Private Placement Memorandum (the "Memorandum") relating to the original sale (the "Original Sale") of the Certificates by the Company, the Purchaser acknowledges that such Memorandum was provided to it by the Seller, that the Memorandum was prepared by the Company solely for use in connection with the Original Sale and the Company did not participate in or facilitate in any way the purchase of the Certificates by the Purchaser from the Seller, and the Purchaser agrees that it will look solely to the Seller and not to the Company with respect to any damage, liability, claim or expense arising out of, resulting from or in connection with (a) error or omission, or alleged error or omission, contained in the Memorandum, or (b) any information, development or event arising after the date of the Memorandum.] 5. The Purchaser has not and will not nor has it authorized or will it authorize any person to (a) offer, pledge, sell, dispose of or otherwise transfer any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) solicit any offer to buy or to accept a pledge, disposition of other transfer of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) otherwise approach or negotiate with respect to any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) make any general solicitation by means of general advertising or in any other manner or (e) take any other action, that (as to any of (a) through (e) above) would constitute a distribution of any Certificate under the Act, that would render the disposition of any Certificate a violation of Section 5 of the Act or any state securities law, or that would require registration or qualification pursuant thereto. The Purchaser will not sell or otherwise transfer any of the Certificates, except in compliance with the provisions of the Pooling and Servicing Agreement. 6. The Purchaser (a) is not an employee benefit or other plan subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or Section 4975 of the Internal Revenue Code of 1986, as amended (a "Plan"), or any other person (including an investment manager, a named fiduciary or a trustee of any Plan) acting, directly or indirectly, on behalf of or purchasing any Certificate with "plan assets" of any Plan within the meaning of the Department of Labor ("DOL") regulation at 29 C.F.R. ss.2510.3-101; or (b) is an insurance company, the source of funds to be used by it to purchase the Certificates is an "insurance company general account" (within the meaning of DOL Prohibited Transaction Class Exemption ("PTCE") 95-60), and the purchase is being made in reliance upon the availability of the exemptive relief afforded under Sections I and III of PTCE 95-60. In addition, the Purchaser hereby certifies, represents and warrants to, and covenants with, the Company, the Trustee and the Master Servicer that the Purchaser will not transfer such Certificates to any Plan or person unless such Plan or person meets the requirements set forth in either 6(a) or (b) above. Very truly yours, By: Name: Title:
EXHIBIT I FORM OF TRANSFEROR REPRESENTATION LETTER ________, 20 Residential Accredit Loans, Inc. 8400 Normandale Lake Boulevard Suite 250 Minneapolis, MN 55437 __________________ __________________ __________________ Attention: Residential Funding Corporation Series ____-___ Re: Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, [Class B-] Ladies and Gentlemen: In connection with the sale by _______________________________(the "Seller") to ____________(the "Purchaser") of $ _________________ Initial Certificate Principal Balance of Mortgage Asset-Backed Pass-Through Certificates, Series ____-___, Class (the "Certificates"), issued pursuant to the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of ___________ 1, ____ among Residential Accredit Loans, Inc., as seller (the "Company"), Residential Funding Corporation, as master servicer, and __________________, as trustee (the "Trustee"). The Seller hereby certifies, represents and warrants to, and covenants with, the Company and the Trustee that: Neither the Seller nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred any Certificate, any interest in any Certificate or any other similar security to any person in any manner, (b) has solicited any offer to buy or to accept a pledge, disposition or other transfer of any Certificate, any interest in any Certificate or any other similar security from any person in any manner, (c) has otherwise approached or negotiated with respect to any Certificate, any interest in any Certificate or any other similar security with any person in any manner, (d) has made any general solicitation by means of general advertising or in any other manner, or (e) has taken any other action, that (as to any of (a) through (e) above) would constitute a distribution of the Certificates under the Securities Act of 1933 (the "Act"), that would render the disposition of any Certificate a violation of Section 5 of the Act or any state securities law, or that would require registration or qualification pursuant thereto. The Seller will not act, in any manner set forth in the foregoing sentence with respect to any Certificate. The Seller has not and will not sell or otherwise transfer any of the Certificates, except in compliance with the provisions of the Pooling and Servicing Agreement. Very truly yours, (Seller) By: Name: Title:
EXHIBIT J [FORM OF RULE 144A INVESTMENT REPRESENTATION] Description of Rule 144A Securities, including numbers: The undersigned seller, as registered holder (the "Seller"), intends to transfer the Rule 144A Securities described above to the undersigned buyer (the "Buyer"). 1. In connection with such transfer and in accordance with the agreements pursuant to which the Rule 144A Securities were issued, the Seller hereby certifies the following facts: Neither the Seller nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security from, or otherwise approached or negotiated with respect to the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security with, any person in any manner, or made any general solicitation by means of general advertising or in any other manner, or taken any other action, that would constitute a distribution of the Rule 144A Securities under the Securities Act of 1933, as amended (the "1933 Act"), or that would render the disposition of the Rule 144A Securities a violation of Section 5 of the 1933 Act or require registration pursuant thereto, and that the Seller has not offered the Rule 144A Securities to any person other than the Buyer or another "qualified institutional buyer" as defined in Rule 144A under the 1933 Act. 2. The Buyer warrants and represents to, and covenants with, the Seller, the Trustee and the Master Servicer (as defined in the Pooling and Servicing Agreement (the "Agreement"), dated as of ___________ 1, ____ among Residential Funding Corporation as Master Servicer, Residential Accredit Loans, Inc. as depositor pursuant to Section 5.02 of the Agreement and __________________, as trustee, as follows: (a) The Buyer understands that the Rule 144A Securities have not been registered under the 1933 Act or the securities laws of any state. (b) The Buyer considers itself a substantial, sophisticated institutional investor having such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of investment in the Rule 144A Securities. (c) The Buyer has been furnished with all information regarding the Rule 144A Securities that it has requested from the Seller, the Trustee or the Servicer. (d) Neither the Buyer nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security from, or otherwise approached or negotiated with respect to the Rule 144A Securities, any interest in the Rule 144A Securities or any other similar security with, any person in any manner, or made any general solicitation by means of general advertising or in any other manner, or taken any other action, that would constitute a distribution of the Rule 144A Securities under the 1933 Act or that would render the disposition of the Rule 144A Securities a violation of Section 5 of the 1933 Act or require registration pursuant thereto, nor will it act, nor has it authorized or will it authorize any person to act, in such manner with respect to the Rule 144A Securities. (e) The Buyer is a "qualified institutional buyer" as that term is defined in Rule 144A under the 1933 Act and has completed either of the forms of certification to that effect attached hereto as Annex 1 or Annex 2. The Buyer is aware that the sale to it is being made in reliance on Rule 144A. The Buyer is acquiring the Rule 144A Securities for its own account or the accounts of other qualified institutional buyers, understands that such Rule 144A Securities may be resold, pledged or transferred only (i) to a person reasonably believed to be a qualified institutional buyer that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that the resale, pledge or transfer is being made in reliance on Rule 144A, or (ii) pursuant to another exemption from registration under the 1933 Act. [3. The Buyer (a) is not an employee benefit or other plan subject to the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), or Section 4975 of the Internal Revenue Code of 1986, as amended (a "Plan"), or any other person (including an investment manager, a named fiduciary or a trustee of any Plan) acting, directly or indirectly, on behalf of or purchasing any Certificate with "plan assets" of any Plan within the meaning of the Department of Labor ("DOL") regulation at 29 C.F.R.ss.2510.3-101; or (b) is an insurance company, the source of funds to be used by it to purchase the Certificates is an "insurance company general account" (within the meaning of DOL Prohibited Transaction Class Exemption ("PTCE") 95-60), and the purchase is being made in reliance upon the availability of the exemptive relief afforded under Sections I and III of PTCE 95-60.] 4. This document may be executed in one or more counterparts and by the different parties hereto on separate counterparts, each of which, when so executed, shall be deemed to be an original; such counterparts, together, shall constitute one and the same document. IN WITNESS WHEREOF, each of the parties has executed this document as of the date set forth below. Print Name of Seller Print Name of Buyer By: By: Name: Name: Title: Title: Taxpayer Identification Taxpayer Identification: No. No: Date: Date:
ANNEX 1 TO EXHIBIT J QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A [For Buyers Other Than Registered Investment Companies] The undersigned hereby certifies as follows in connection with the Rule 144A Investment Representation to which this Certification is attached: 1. As indicated below, the undersigned is the President, Chief Financial Officer, Senior Vice President or other executive officer of the Buyer. 2. In connection with purchases by the Buyer, the Buyer is a "qualified institutional buyer" as that term is defined in Rule 144A under the Securities Act of 1933 ("Rule 144A") because (i) the Buyer owned and/or invested on a discretionary basis $ in securities (except for the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A) and (ii) the Buyer satisfies the criteria in the category marked below. -- Corporation, etc. The Buyer is a corporation (other than a bank, savings and loan association or similar institution), Massachusetts or similar business trust, partnership, or charitable organization described in Section 501(c)(3) of the Internal Revenue Code. -- Bank. The Buyer (a) is a national bank or banking institution organized under the laws of any State, territory or the District of Columbia, the business of which is substantially confined to banking and is supervised by the State or territorial banking commission or similar official or is a foreign bank or equivalent institution, and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements, a copy of which is attached hereto. -- Savings and Loan. The Buyer (a) is a savings and loan association, building and loan association, cooperative bank, homestead association or similar institution, which is supervised and examined by a State or Federal authority having supervision over any such institutions or is a foreign savings and loan association or equivalent institution and (b) has an audited net worth of at least $25,000,000 as demonstrated in its latest annual financial statements. -- Broker-Dealer. The Buyer is a dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934. -- Insurance Company. The Buyer is an insurance company whose primary and predominant business activity is the writing of insurance or the reinsuring of risks underwritten by insurance companies and which is subject to supervision by the insurance commissioner or a similar official or agency of a State or territory or the District of Columbia. -- State or Local Plan. The Buyer is a plan established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees. -- ERISA Plan. The Buyer is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974. -- Investment Adviser. The Buyer is an investment adviser registered under the Investment Advisers Act of 1940. -- SBIC. The Buyer is a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958. -- Business Development Company. The Buyer is a business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940. -- Trust Fund. The Buyer is a trust fund whose trustee is a bank or trust company and whose participants are exclusively (a) plans established and maintained by a State, its political subdivisions, or any agency or instrumentality of the State or its political subdivisions, for the benefit of its employees, or (b) employee benefit plans within the meaning of Title I of the Employee Retirement Income Security Act of 1974, but is not a trust fund that includes as participants individual retirement accounts or H.R. 10 plans. 3. The term "securities" as used herein does not include (i) securities of issuers that are affiliated with the Buyer, (ii) securities that are part of an unsold allotment to or subscription by the Buyer, if the Buyer is a dealer, (iii) bank deposit notes and certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps. 4. For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by the Buyer, the Buyer used the cost of such securities to the Buyer and did not include any of the securities referred to in the preceding paragraph. Further, in determining such aggregate amount, the Buyer may have included securities owned by subsidiaries of the Buyer, but only if such subsidiaries are consolidated with the Buyer in its financial statements prepared in accordance with generally accepted accounting principles and if the investments of such subsidiaries are managed under the Buyer's direction. However, such securities were not included if the Buyer is a majority-owned, consolidated subsidiary of another enterprise and the Buyer is not itself a reporting company under the Securities Exchange Act of 1934. 5. The Buyer acknowledges that it is familiar with Rule 144A and understands that the seller to it and other parties related to the Certificates are relying and will continue to rely on the statements made herein because one or more sales to the Buyer may be in reliance on Rule 144A. Will the Buyer be purchasing the Rule 144A Yes No Securities only for the Buyer's own account? 6. If the answer to the foregoing question is "no", the Buyer agrees that, in connection with any purchase of securities sold to the Buyer for the account of a third party (including any separate account) in reliance on Rule 144A, the Buyer will only purchase for the account of a third party that at the time is a "qualified institutional buyer" within the meaning of Rule 144A. In addition, the Buyer agrees that the Buyer will not purchase securities for a third party unless the Buyer has obtained a current representation letter from such third party or taken other appropriate steps contemplated by Rule 144A to conclude that such third party independently meets the definition of "qualified institutional buyer" set forth in Rule 144A. 7. The Buyer will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice is given, the Buyer's purchase of Rule 144A Securities will constitute a reaffirmation of this certification as of the date of such purchase. Print Name of Buyer By: Name: Title: Date:
ANNEX 2 TO EXHIBIT J QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A [For Buyers That Are Registered Investment Companies] The undersigned hereby certifies as follows in connection with the Rule 144A Investment Representation to which this Certification is attached: 8. As indicated below, the undersigned is the President, Chief Financial Officer or Senior Vice President of the Buyer or, if the Buyer is a "qualified institutional buyer" as that term is defined in Rule 144A under the Securities Act of 1933 ("Rule 144A") because Buyer is part of a Family of Investment Companies (as defined below), is such an officer of the Adviser. 9. In connection with purchases by Buyer, the Buyer is a "qualified institutional buyer" as defined in SEC Rule 144A because (i) the Buyer is an investment company registered under the Investment Company Act of 1940, and (ii) as marked below, the Buyer alone, or the Buyer's Family of Investment Companies, owned at least $100,000,000 in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year. For purposes of determining the amount of securities owned by the Buyer or the Buyer's Family of Investment Companies, the cost of such securities was used. -- The Buyer owned $ in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A). -- The Buyer is part of a Family of Investment Companies which owned in the aggregate $ in securities (other than the excluded securities referred to below) as of the end of the Buyer's most recent fiscal year (such amount being calculated in accordance with Rule 144A). 10. The term "Family of Investment Companies" as used herein means two or more registered investment companies (or series thereof) that have the same investment adviser or investment advisers that are affiliated (by virtue of being majority owned subsidiaries of the same parent or because one investment adviser is a majority owned subsidiary of the other). 11. The term "securities" as used herein does not include (i) securities of issuers that are affiliated with the Buyer or are part of the Buyer's Family of Investment Companies, (ii) bank deposit notes and certificates of deposit, (iii) loan participations, (iv) repurchase agreements, (v) securities owned but subject to a repurchase agreement and (vi) currency, interest rate and commodity swaps. 12. The Buyer is familiar with Rule 144A and understands that each of the parties to which this certification is made are relying and will continue to rely on the statements made herein because one or more sales to the Buyer will be in reliance on Rule 144A. In addition, the Buyer will only purchase for the Buyer's own account. 13. The undersigned will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice, the Buyer's purchase of Rule 144A Securities will constitute a reaffirmation of this certification by the undersigned as of the date of such purchase. Print Name of Buyer By: Name: Title: IF AN ADVISER: Print Name of Buyer Date:
EXHIBIT K [TEXT OF AMENDMENT TO POOLING AND SERVICING AGREEMENT PURSUANT TO SECTION 11.01(E) FOR A LIMITED GUARANTY] ARTICLE XIII Subordinate Certificate Loss Coverage; Limited Guaranty Section 13.01. Subordinate Certificate Loss Coverage; Limited Guaranty. (a) Subject to subsection (c) below, prior to the later of the third Business Day prior to each Distribution Date or the related Determination Date, the Master Servicer shall determine whether it or any Sub-Servicer will be entitled to any reimbursement pursuant to Section 4.02(a) on such Distribution Date for Advances or Sub-Servicer Advances previously made, (which will not be Advances or Sub-Servicer Advances that were made with respect to delinquencies which were subsequently determined to be Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses or Extraordinary Losses) and, if so, the Master Servicer shall demand payment from Residential Funding of an amount equal to the amount of any Advances or Sub-Servicer Advances reimbursed pursuant to Section 4.02(a), to the extent such Advances or Sub-Servicer Advances have not been included in the amount of the Realized Loss in the related Mortgage Loan, and shall distribute the same to the Class B Certificateholders in the same manner as if such amount were to be distributed pursuant to Section 4.02(a). (b) Subject to subsection (c) below, prior to the later of the third Business Day prior to each Distribution Date or the related Determination Date, the Master Servicer shall determine whether any Realized Losses (other than Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses) will be allocated to the Class B Certificates on such Distribution Date pursuant to Section 4.05, and, if so, the Master Servicer shall demand payment from Residential Funding of the amount of such Realized Loss and shall distribute the same to the Class B Certificateholders in the same manner as if such amount were to be distributed pursuant to Section 4.02(a); provided, however, that the amount of such demand in respect of any Distribution Date shall in no event be greater than the sum of (i) the additional amount of Accrued Certificate Interest that would have been paid for the Class B Certificateholders on such Distribution Date had such Realized Loss or Losses not occurred plus (ii) the amount of the reduction in the Certificate Principal Balances of the Class B Certificates on such Distribution Date due to such Realized Loss or Losses. Notwithstanding such payment, such Realized Losses shall be deemed to have been borne by the Certificateholders for purposes of Section 4.05. Excess Special Hazard Losses, Excess Fraud Losses, Excess Bankruptcy Losses and Extraordinary Losses allocated to the Class B Certificates will not be covered by the Subordinate Certificate Loss Obligation. (c) Demands for payments pursuant to this Section shall be made prior to the later of the third Business Day prior to each Distribution Date or the related Determination Date by the Master Servicer with written notice thereof to the Trustee. The maximum amount that Residential Funding shall be required to pay pursuant to this Section on any Distribution Date (the "Amount Available") shall be equal to the lesser of (X) minus the sum of (i) all previous payments made under subsections (a) and (b) hereof and (ii) all draws under the Limited Guaranty made in lieu of such payments as described below in subsection (d) and (Y) the then outstanding Certificate Principal Balances of the Class B Certificates, or such lower amount as may be established pursuant to Section 13.02. Residential Funding's obligations as described in this Section are referred to herein as the "Subordinate Certificate Loss Obligation." (d) The Trustee will promptly notify General Motors Acceptance Corporation of any failure of Residential Funding to make any payments hereunder and shall demand payment pursuant to the limited guaranty (the "Limited Guaranty"), executed by General Motors Acceptance Corporation, of Residential Funding's obligation to make payments pursuant to this Section, in an amount equal to the lesser of (i) the Amount Available and (ii) such required payments, by delivering to General Motors Acceptance Corporation a written demand for payment by wire transfer, not later than the second Business Day prior to the Distribution Date for such month, with a copy to the Master Servicer. (e) All payments made by Residential Funding pursuant to this Section or amounts paid under the Limited Guaranty shall be deposited directly in the Certificate Account, for distribution on the Distribution Date for such month to the Class B Certificateholders. (f) The Company shall have the option, in its sole discretion, to substitute for either or both of the Limited Guaranty or the Subordinate Certificate Loss Obligation another instrument in the form of a corporate guaranty, an irrevocable letter of credit, a surety bond, insurance policy or similar instrument or a reserve fund; provided that (i) the Company obtains (subject to the provisions of Section 10.01(f) as if the Company was substituted for the Master Servicer solely for the purposes of such provision) an Opinion of Counsel (which need not be an opinion of Independent counsel) to the effect that obtaining such substitute corporate guaranty, irrevocable letter of credit, surety bond, insurance policy or similar instrument or reserve fund will not cause either (a) any federal tax to be imposed on the Trust Fund, including without limitation, any federal tax imposed on "prohibited transactions" under Section 860(F)(a)(1) of the Code or on "contributions after the startup date" under Section 860(G)(d)(1) of the Code or (b) the Trust Fund to fail to qualify as a REMIC at any time that any Certificate is outstanding, and (ii) no such substitution shall be made unless (A) the substitute Limited Guaranty or Subordinate Certificate Loss Obligation is for an initial amount not less than the then current Amount Available and contains provisions that are in all material respects equivalent to the original Limited Guaranty or Subordinate Certificate Loss Obligation (including that no portion of the fees, reimbursements or other obligations under any such instrument will be borne by the Trust Fund), (B) the long term debt obligations of any obligor of any substitute Limited Guaranty or Subordinate Certificate Loss Obligation (if not supported by the Limited Guaranty) shall be rated at least the lesser of (a) the rating of the long term debt obligations of General Motors Acceptance Corporation as of the date of issuance of the Limited Guaranty and (b) the rating of the long term debt obligations of General Motors Acceptance Corporation at the date of such substitution and (C) the Company obtains written confirmation from each nationally recognized credit rating agency that rated the Class B Certificates at the request of the Company that such substitution shall not lower the rating on the Class B Certificates below the lesser of (a) the then-current rating assigned to the Class B Certificates by such rating agency and (b) the original rating assigned to the Class B Certificates by such rating agency. Any replacement of the Limited Guaranty or Subordinate Certificate Loss Obligation pursuant to this Section shall be accompanied by a written Opinion of Counsel to the substitute guarantor or obligor, addressed to the Master Servicer and the Trustee, that such substitute instrument constitutes a legal, valid and binding obligation of the substitute guarantor or obligor, enforceable in accordance with its terms, and concerning such other matters as the Master Servicer and the Trustee shall reasonably request. Neither the Company, the Master Servicer nor the Trustee shall be obligated to substitute for or replace the Limited Guaranty or Subordinate Certificate Loss Obligation under any circumstance. Section 13.02. Amendments Relating to the Limited Guaranty. Notwithstanding Sections 11.01 or 13.01: (i) the provisions of this Article XIII may be amended, superseded or deleted, (ii) the Limited Guaranty or Subordinate Certificate Loss Obligation may be amended, reduced or canceled, and (iii) any other provision of this Agreement which is related or incidental to the matters described in this Article XIII may be amended in any manner; in each case by written instrument executed or consented to by the Company and Residential Funding but without the consent of any Certificateholder and without the consent of the Master Servicer or the Trustee being required unless any such amendment would impose any additional obligation on, or otherwise adversely affect the interests of, the Master Servicer or the Trustee, as applicable; provided that the Company shall also obtain a letter from each nationally recognized credit rating agency that rated the Class B Certificates at the request of the Company to the effect that such amendment, reduction, deletion or cancellation will not lower the rating on the Class B Certificates below the lesser of (a) the then-current rating assigned to the Class B Certificates by such rating agency and (b) the original rating assigned to the Class B Certificates by such rating agency, unless (A) the Holder of 100% of the Class B Certificates is Residential Funding or an Affiliate of Residential Funding, or (B) such amendment, reduction, deletion or cancellation is made in accordance with Section 11.01(e) and, provided further that the Company obtains (subject to the provisions of Section 10.01(f) as if the Company was substituted for the Master Servicer solely for the purposes of such provision), in the case of a material amendment or supercession (but not a reduction, cancellation or deletion of the Limited Guaranty or the Subordinate Certificate Loss Obligation), an Opinion of Counsel (which need not be an opinion of Independent counsel) to the effect that any such amendment or supercession will not cause either (a) any federal tax to be imposed on the Trust Fund, including without limitation, any federal tax imposed on "prohibited transactions" under Section 860F(a)(1) of the Code or on "contributions after the startup date" under Section 860G(d)(1) of the Code or (b) the Trust Fund to fail to qualify as a REMIC at any time that any Certificate is outstanding. A copy of any such instrument shall be provided to the Trustee and the Master Servicer together with an Opinion of Counsel that such amendment complies with this Section 13.02.
EXHIBIT L [FORM OF LIMITED GUARANTY] LIMITED GUARANTY RESIDENTIAL ACCREDIT LOANS, INC. Mortgage Asset-Backed Pass-Through Certificates Series ____-___ ____________ , 200 __________________ __________________ __________________ Attention: Residential Funding Corporation Series ____-___ Ladies and Gentlemen: WHEREAS, Residential Funding Corporation, a Delaware corporation ("Residential Funding"), an indirect wholly-owned subsidiary of General Motors Acceptance Corporation, a New York corporation ("GMAC"), plans to incur certain obligations as described under Section 13.01 of the Pooling and Servicing Agreement dated as of ___________ 1, ____ (the "Servicing Agreement"), among Residential Accredit Loans, Inc. (the "Company"), Residential Funding and __________________ (the "Trustee") as amended by Amendment No. thereto, dated as of , with respect to the Mortgage Asset-Backed Pass-Through Certificates, Series ____-___ (the "Certificates"); and WHEREAS, pursuant to Section 13.01 of the Servicing Agreement, Residential Funding agrees to make payments to the Holders of the Class B Certificates with respect to certain losses on the Mortgage Loans as described in the Servicing Agreement; and WHEREAS, GMAC desires to provide certain assurances with respect to the ability of Residential Funding to secure sufficient funds and faithfully to perform its Subordinate Certificate Loss Obligation; NOW THEREFORE, in consideration of the premises herein contained and certain other good and valuable consideration, the receipt of which is hereby acknowledged, GMAC agrees as follows: 1. Provision of Funds. (a) GMAC agrees to contribute and deposit in the Certificate Account on behalf of Residential Funding (or otherwise provide to Residential Funding, or to cause to be made available to Residential Funding), either directly or through a subsidiary, in any case prior to the related Distribution Date, such moneys as may be required by Residential Funding to perform its Subordinate Certificate Loss Obligation when and as the same arises from time to time upon the demand of the Trustee in accordance with Section 13.01 of the Servicing Agreement. (b) The agreement set forth in the preceding clause (a) shall be absolute, irrevocable and unconditional and shall not be affected by the transfer by GMAC or any other person of all or any part of its or their interest in Residential Funding, by any insolvency, bankruptcy, dissolution or other proceeding affecting Residential Funding or any other person, by any defense or right of counterclaim, set-off or recoupment that GMAC may have against Residential Funding or any other person or by any other fact or circumstance. Notwithstanding the foregoing, GMAC's obligations under clause (a) shall terminate upon the earlier of (x) substitution for this Limited Guaranty pursuant to Section 13.01(f) of the Servicing Agreement, or (y) the termination of the Trust Fund pursuant to the Servicing Agreement. 2. Waiver. GMAC hereby waives any failure or delay on the part of Residential Funding, the Trustee or any other person in asserting or enforcing any rights or in making any claims or demands hereunder. Any defective or partial exercise of any such rights shall not preclude any other or further exercise of that or any other such right. GMAC further waives demand, presentment, notice of default, protest, notice of acceptance and any other notices with respect to this Limited Guaranty, including, without limitation, those of action or nonaction on the part of Residential Funding or the Trustee. 3. Modification, Amendment and Termination. This Limited Guaranty may be modified, amended or terminated only by the written agreement of GMAC and the Trustee and only if such modification, amendment or termination is permitted under Section 13.02 of the Servicing Agreement. The obligations of GMAC under this Limited Guaranty shall continue and remain in effect so long as the Servicing Agreement is not modified or amended in any way that might affect the obligations of GMAC under this Limited Guaranty without the prior written consent of GMAC. 4. Successor. Except as otherwise expressly provided herein, the guarantee herein set forth shall be binding upon GMAC and its respective successors. 5. Governing Law. This Limited Guaranty shall be governed by the laws of the State of New York. 6. Authorization and Reliance. GMAC understands that a copy of this Limited Guaranty shall be delivered to the Trustee in connection with the execution of Amendment No. 1 to the Servicing Agreement and GMAC hereby authorizes the Company and the Trustee to rely on the covenants and agreements set forth herein. 7. Definitions. Capitalized terms used but not otherwise defined herein shall have the meaning given them in the Servicing Agreement. 8. Counterparts. This Limited Guaranty may be executed in any number of counterparts, each of which shall be deemed to be an original and such counterparts shall constitute but one and the same instrument. IN WITNESS WHEREOF, GMAC has caused this Limited Guaranty to be executed and delivered by its respective officers thereunto duly authorized as of the day and year first above written. GENERAL MOTORS ACCEPTANCE CORPORATION By: Name: Title: Acknowledged by: __________________, as Trustee By: Name: Title: RESIDENTIAL ACCREDIT LOANS, INC. By: Name: Title:
EXHIBIT M FORM OF LENDER CERTIFICATION FOR ASSIGNMENT OF MORTGAGE LOAN ________, 20 Residential Accredit Loans, Inc. 8400 Normandale Lake Boulevard Suite 250 Minneapolis, Minnesota 55437 __________________ __________________ __________________ Attention: Residential Funding Corporation Series ____-___ Re: Mortgage Asset-Backed Pass-Through Certificates, Series ____-___ Assignment of Mortgage Loan Ladies and Gentlemen: This letter is delivered to you in connection with the assignment by __________________________________________________________________(the "Trustee") to _____________________________________________________________________(the "Lender") of _______________________________ (the "Mortgage Loan") pursuant to Section 3.13(d) of the Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), dated as of ___________ 1, ____ among Residential Accredit Loans, Inc., as seller (the "Company"), Residential Funding Corporation, as Master Servicer, and the Trustee. All terms used herein and not otherwise defined shall have the meanings set forth in the Pooling and Servicing Agreement. The Lender hereby certifies, represents and warrants to, and covenants with, the Master Servicer and the Trustee that: (i) the Mortgage Loan is secured by Mortgaged Property located in a jurisdiction in which an assignment in lieu of satisfaction is required to preserve lien priority, minimize or avoid mortgage recording taxes or otherwise comply with, or facilitate a refinancing under, the laws of such jurisdiction; (ii) the substance of the assignment is, and is intended to be, a refinancing of such Mortgage Loan and the form of the transaction is solely to comply with, or facilitate the transaction under, such local laws; (iii) the Mortgage Loan following the proposed assignment will be modified to have a rate of interest at least 0.25 percent below or above the rate of interest on such Mortgage Loan prior to such proposed assignment; and (iv) such assignment is at the request of the borrower under the related Mortgage Loan. Very truly yours, (Lender) By: Name: Title:
EXHIBIT N FORM OF REQUEST FOR EXCHANGE [DATE] __________________ __________________ __________________ Re: Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series ____-___ Residential Funding Corporation, as the Holder of a % Percentage Interest of the [Interest Only/Class A-V][-1] Certificates, hereby requests the Trustee to exchange the above-referenced Certificates for the Subclasses referred to below: 1. [Interest Only/Class A-V]- Certificates, corresponding to the following Uncertificated REMIC Regular Interests: [List numbers corresponding to the related loans and Pool Strip Rates from the Mortgage Loan Schedule]. The initial Subclass Notional Amount and the Initial Pass-Through Rate on the [Interest Only/Class A-V]- Certificates will be $ _________ and _______________%, respectively. 2. [Repeat as appropriate.] The Subclasses requested above will represent in the aggregate all of the Uncertificated REMIC Regular Interests represented by the [Interest Only/Class A-V][-1] Certificates surrendered for exchange. All capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement, dated as of ___________ 1, ____, among Residential Accredit Loans, Inc., Residential Funding Corporation and __________________, as trustee. RESIDENTIAL FUNDING CORPORATION By: Name: Title:
EXHIBIT O Form of Form 10-K Certification I, [identify the certifying individual], certify that: 1. I have reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report on Form 10-K of the trust (the "Exchange Act periodic reports") created pursuant to the Series Supplement dated ___________________ to the Standard Terms of Pooling and Servicing Agreement dated ____________________ (together, the "P&S Agreement") among Residential Accredit Loans, Inc., Residential Funding Corporation (the "Master Servicer") and [Name of Trustee] (the "Trustee"); 2. Based on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the period covered by this report is included in the Exchange Act periodic reports; 4. I am responsible for reviewing the activities performed by the Master Servicer and based on my knowledge and the compliance review conducted in preparing the servicer compliance statement required in this report under Item 1123 of Regulation AB, and except a disclosed in the Exchange Act periodic reports, the Master Servicer has fulfilled its obligations under the P&S Agreement; and 5. All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K. In giving the certifications above, I have reasonably relied on the information provided to me by the following unaffiliated parties: [the Trustee]. Date:_______________________ ____________________________* [Signature] [Title:] * to be signed by the senior officer in charge of the servicing functions of the Master Servicer
EXHIBIT P [FORM OF BACK-UP CERTIFICATION TO FORM 10-K CERTIFICATE] The undersigned, a Responsible Officer of [_________] (the "Trustee") certifies that: (a) The Trustee has performed all of the duties specifically required to be performed by it pursuant to the provisions of the Pooling and Servicing Agreement dated as of [_________], 20[__] (the "Agreement") by and among [__________], as depositor, Residential Funding Corporation, as Master Servicer, and the Trustee in accordance with the standards set forth therein. (b) Based on my knowledge, the list of Certificateholders as shown on the Certificate Register as of the end of each calendar year that is provided by the Trustee pursuant to the Agreement is accurate as of the last day of the 20[__] calendar year. Capitalized terms used and not defined herein shall have the meanings given such terms in the Agreement. IN WITNESS WHEREOF, I have duly executed this certificate as of _________, 20__.] Name: Title:
EXHIBIT Q INFORMATION TO BE PROVIDED BY THE MASTER SERVICER TO THE RATING AGENCIES RELATING TO REPORTABLE MODIFIED MORTGAGE LOANS Account number Transaction Identifier Unpaid Principal Balance prior to Modification Next Due Date Monthly Principal and Interest Payment Total Servicing Advances Current Interest Rate Original Maturity Date Original Term to Maturity (Months) Remaining Term to Maturity (Months) Trial Modification Indicator Mortgagor Equity Contribution Total Servicer Advances Trial Modification Term (Months) Trial Modification Start Date Trial Modification End Date Trial Modification Period Principal and Interest Payment Trial Modification Interest Rate Trial Modification Term Rate Reduction Indicator Interest Rate Post Modification Rate Reduction Start Date Rate Reduction End Date Rate Reduction Term Term Modified Indicator Modified Amortization Period Modified Final Maturity Date Total Advances Written Off Unpaid Principal Balance Written Off Other Past Due Amounts Written Off Write Off Date Unpaid Principal Balance Post Write Off Capitalization Indicator Mortgagor Contribution Total Capitalized Amount Modification Close Date Unpaid Principal Balance Post Capitalization Modification Next Payment Due Date per Modification Plan Principal and Interest Payment Post Modification Interest Rate Post Modification Payment Made Post Capitalization Delinquency Status to Modification Plan
EXHIBIT R SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE The assessment of compliance to be delivered by the Trustee shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria": -------------------------------------------------------------------------- ------------------ APPLICABLE SERVICING SERVICING CRITERIA CRITERIA -------------------------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ REFERENCE CRITERIA ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ GENERAL SERVICING CONSIDERATIONS ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance with such servicing activities. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ CASH COLLECTION AND ADMINISTRATION ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(i) Payments on pool assets are deposited into the |X| (as to appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days accounts held by specified in the transaction agreements. Trustee) ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an |X| (as to obligor or to an investor are made only by authorized investors only) personnel. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of |X| (as to overcollateralization, are separately maintained accounts held by (e.g., with respect to commingling of cash) as set Trustee) 1122(d)(2)(iv) forth in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(vi) Unissued checks are safeguarded so as to prevent unauthorized access. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ INVESTOR REMITTANCES AND REPORTING ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(3)(i) Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of pool assets serviced by the servicer. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in |X| accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ Disbursements made to an investor are posted within two business days to the servicer's investor records, or such other number of days specified in the |X| 1122(d)(3)(iii) transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, |X| 1122(d)(3)(iv) or custodial bank statements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ POOL ASSET ADMINISTRATION ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(i) Collateral or security on pool assets is maintained as required by the transaction agreements or related asset pool documents. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ Pool assets and related documents are safeguarded as 1122(d)(4)(ii) required by the transaction agreements ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(iv) Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(v) The servicer's records regarding the pool assets agree with the servicer's records with respect to an obligor's unpaid principal balance. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(vi) Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(viii) Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(ix) Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(xii) Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or omission. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of 1122(d)(4)(xiii) days specified in the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ 1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the |X| 1122(d)(4)(xv) transaction agreements. ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------ ----------------- -------------------------------------------------------- ------------------
EXHIBIT FIVE PLANNED PRINCIPAL BALANCES AGGREGATE PLANNED PRINCIPAL BALANCE AGGREGATE PLANNED DISTRIBUTION DATE PRINCIPAL BALANCE FOR LASS A-2, CLASS A-3 AND CCLASS A-4 CERTIFICATES Initial Balance $132,545,000.00 February 2006 130,727,831.27 March 2006 128,921,646.00 April 2006 127,126,549.01 May 2006 125,342,474.11 June 2006 123,569,355.50 July 2006 121,807,127.78 August 2006 120,055,725.95 September 2006 118,315,085.41 October 2006 116,585,141.96 November 2006 114,865,831.77 December 2006 113,157,091.42 January 2007 111,458,857.86 February 2007 109,771,068.45 March 2007 108,093,660.90 April 2007 106,426,573.32 May 2007 104,769,744.19 June 2007 103,123,112.38 July 2007 101,486,617.10 August 2007 99,860,197.97 September 2007 98,243,794.94 October 2007 96,637,348.37 November 2007 95,040,798.94 December 2007 93,454,087.73 January 2008 91,877,156.15 February 2008 90,309,945.99 March 2008 88,752,399.38 April 2008 87,204,458.80 May 2008 85,666,067.11 June 2008 84,137,167.49 July 2008 82,617,703.47 August 2008 81,107,618.95 September 2008 79,606,858.14 October 2008 78,115,365.62 November 2008 76,633,086.28 December 2008 75,159,965.37 January 2009 73,695,948.48 February 2009 72,240,981.50 March 2009 70,795,010.68 April 2009 69,357,982.59 May 2009 67,929,844.12 June 2009 66,510,542.51 July 2009 65,100,025.30 August 2009 63,698,240.35 September 2009 62,305,135.86 October 2009 60,920,660.31 November 2009 59,544,762.55 December 2009 58,177,391.69 January 2010 56,818,497.18 February 2010 55,468,028.79 March 2010 54,125,936.57 April 2010 52,792,170.89 May 2010 51,466,682.43 June 2010 50,149,422.17 July 2010 48,840,341.37 August 2010 47,539,391.63 September 2010 46,246,524.81 October 2010 44,961,693.09 November 2010 43,684,848.93 December 2010 42,415,945.08 January 2011 41,154,265.49 February 2011 39,984,037.18 March 2011 38,821,439.40 April 2011 37,666,426.12 May 2011 36,518,951.57 June 2011 35,378,970.27 July 2011 34,246,437.01 August 2011 33,121,306.86 September 2011 32,003,535.17 October 2011 30,893,077.57 November 2011 29,789,889.94 December 2011 28,693,928.45 January 2012 27,605,149.53 February 2012 26,597,470.45 March 2012 25,612,643.66 April 2012 24,650,211.29 May 2012 23,709,724.22 June 2012 22,790,741.92 July 2012 21,892,832.35 August 2012 21,015,571.70 September 2012 20,158,544.33 October 2012 19,321,342.56 November 2012 18,503,566.53 December 2012 17,704,824.06 January 2013 16,924,730.52 February 2013 16,299,222.46 March 2013 15,688,937.32 April 2013 15,093,550.49 May 2013 14,512,743.88 June 2013 13,946,205.75 July 2013 13,393,630.62 August 2013 12,854,719.12 September 2013 12,329,177.91 October 2013 11,816,719.52 November 2013 11,317,062.28 December 2013 10,829,930.17 January 2014 10,355,052.71 February 2014 10,010,611.19 March 2014 9,674,654.01 April 2014 9,346,991.89 May 2014 9,027,439.56 June 2014 8,715,815.61 July 2014 8,411,942.50 August 2014 8,115,646.40 September 2014 7,826,757.16 October 2014 7,545,108.21 November 2014 7,270,536.53 December 2014 7,002,882.53 January 2015 6,741,989.99 February 2015 6,585,884.79 March 2015 6,432,781.40 April 2015 6,282,622.89 May 2015 6,135,353.41 June 2015 5,990,918.16 July 2015 5,849,263.35 August 2015 5,710,336.22 September 2015 5,574,085.01 October 2015 5,440,458.90 November 2015 5,309,408.05 December 2015 5,180,108.24 January 2016 5,050,095.94 February 2016 4,922,639.16 March 2016 4,797,688.76 April 2016 4,675,196.52 May 2016 4,555,115.14 June 2016 4,437,398.23 July 2016 4,322,000.26 August 2016 4,208,876.57 September 2016 4,097,983.35 October 2016 3,989,277.64 November 2016 3,882,717.26 December 2016 3,778,260.85 January 2017 3,675,867.84 February 2017 3,575,498.43 March 2017 3,477,113.56 April 2017 3,380,674.93 May 2017 3,286,144.96 June 2017 3,193,486.80 July 2017 3,102,664.27 August 2017 3,013,641.91 September 2017 2,926,384.91 October 2017 2,840,859.14 November 2017 2,757,031.10 December 2017 2,674,867.96 January 2018 2,594,337.48 February 2018 2,515,408.06 March 2018 2,438,048.68 April 2018 2,362,228.93 May 2018 2,287,918.96 June 2018 2,215,089.52 July 2018 2,143,711.88 August 2018 2,073,757.89 September 2018 2,005,199.92 October 2018 1,938,010.86 November 2018 1,872,164.13 December 2018 1,807,633.67 January 2019 1,744,393.88 February 2019 1,682,419.68 March 2019 1,621,686.47 April 2019 1,562,170.09 May 2019 1,503,846.87 June 2019 1,446,693.59 July 2019 1,390,687.46 August 2019 1,335,806.13 September 2019 1,282,027.69 October 2019 1,229,330.62 November 2019 1,177,693.86 December 2019 1,127,096.70 January 2020 1,077,518.86 February 2020 1,028,940.44 March 2020 981,341.92 April 2020 934,704.15 May 2020 889,008.35 June 2020 844,236.10 July 2020 800,369.34 August 2020 757,390.34 September 2020 715,281.73 October 2020 674,026.45 November 2020 633,607.80 December 2020 594,009.36 January 2021 555,215.07 February 2021 517,209.13 March 2021 479,976.08 April 2021 443,500.74 May 2021 407,768.23 June 2021 372,763.96 July 2021 338,473.60 August 2021 304,883.12 September 2021 271,978.74 October 2021 239,746.96 November 2021 208,174.54 December 2021 177,248.47 January 2022 146,956.02 February 2022 117,284.70 March 2022 88,222.25 April 2022 59,756.65 May 2022 31,876.12 June 2022 4,569.09 ----------------------------------------------------------------------------------------------