EX-4.1 3 d664141-ex4_1.htm PSA Unassociated Document
 

 
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.,
DEPOSITOR
 
WELLS FARGO BANK, N.A.,
TRUSTEE
 
and
 
EMC MORTGAGE CORPORATION,
SELLER AND MASTER SERVICER
 
POOLING AND SERVICING AGREEMENT
 
Dated as of April 1, 2007
 
Structured Asset Mortgage Investments II Inc.
Bear Stearns ARM Trust, Mortgage Pass-Through Certificates
 
Series 2007-3





TABLE OF CONTENTS
 

ARTICLE I DEFINITIONS
 
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01
Conveyance of Mortgage Loans to Trustee.
Section 2.02
Acceptance of Mortgage Loans by Trustee.
Section 2.03
Assignment of Interest in the Mortgage Loan Purchase Agreement.
Section 2.04
Substitution of Mortgage Loans.
Section 2.05
Issuance of Certificates.
Section 2.06
Representations and Warranties Concerning the Depositor.
Section 2.07
Purposes and Powers of the Trust.
Section 2.08
Delivery of Opinion of Counsel in Connection with Substitutions and Purchases.
 
ARTICLE III ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS; SEC REPORTING
Section 3.01
Master Servicer.
Section 3.02
REMIC-Related Covenants.
Section 3.03
Monitoring of Servicer.
Section 3.04
Fidelity Bond.
Section 3.05
Power to Act; Procedures.
Section 3.06
Due-on-Sale Clauses; Assumption Agreements.
Section 3.07
Release of Mortgage Files.
Section 3.08
Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee.
Section 3.09
Standard Hazard Insurance and Flood Insurance Policies.
Section 3.10
Presentment of Claims and Collection of Proceeds.
Section 3.11
Maintenance of the Primary Mortgage Insurance Policies.
Section 3.12
Trustee to Retain Possession of Certain Insurance Policies and Documents.
Section 3.13
Realization Upon Defaulted Mortgage Loans.
Section 3.14
Compensation for the Master Servicer.
Section 3.15
REO Property.
Section 3.16
Annual Statement as to Compliance.
Section 3.17
Assessments of Compliance and Attestation Reports.
Section 3.18
Reports Filed with Securities and Exchange Commission.
Section 3.19
UCC.
Section 3.20
Optional Purchase of Defaulted Mortgage Loans.
Section 3.21
Intention of the Parties and Interpretation.
 
ARTICLE IV ACCOUNTS
Section 4.01
Protected Accounts.
Section 4.02
Master Servicer Collection Account.
Section 4.03
Permitted Withdrawals From the Master Servicer Collection Account.
Section 4.04
Distribution Account.
Section 4.05
Permitted Withdrawals and Transfers from the Distribution Account.
 
ARTICLE V CERTIFICATES
Section 5.01
Certificates.
Section 5.02
Registration of Transfer and Exchange of Certificates.
Section 5.03
Mutilated, Destroyed, Lost or Stolen Certificates.
Section 5.04
Persons Deemed Owners.
Section 5.05
Transfer Restrictions on Residual Certificates.
Section 5.06
Restrictions on Transferability of Certificates.
Section 5.07
ERISA Restrictions.
Section 5.08
Rule 144A Information.
 
ARTICLE VI PAYMENTS TO CERTIFICATEHOLDERS
Section 6.01
Distributions on the Certificates.
Section 6.02
Allocation of Losses.
Section 6.03
Payments.
Section 6.04
Statements to Certificateholders.
Section 6.05
Monthly Advances.
Section 6.06
Compensating Interest Payments.
 
ARTICLE VII THE MASTER SERVICER
Section 7.01
Liabilities of the Master Servicer.
Section 7.02
Merger or Consolidation of the Master Servicer.
Section 7.03
Indemnification of the Master Servicer.
Section 7.04
Limitations on Liability of the Master Servicer and Others.
Section 7.05
Master Servicer Not to Resign.
Section 7.06
Successor Master Servicer.
Section 7.07
Sale and Assignment of Master Servicing.
 
ARTICLE VIII DEFAULT
Section 8.01
Events of Default.
Section 8.02
Trustee to Act; Appointment of Successor.
Section 8.03
Notification to Certificateholders.
Section 8.04
Waiver of Defaults.
Section 8.05
List of Certificateholders.
 
ARTICLE IX CONCERNING THE TRUSTEE
Section 9.01
Duties of Trustee.
Section 9.02
Certain Matters Affecting the Trustee.
Section 9.03
Trustee Not Liable for Certificates or Mortgage Loans.
Section 9.04
Trustee May Own Certificates.
Section 9.05
Trustee’s Fees and Expenses.
Section 9.06
Eligibility Requirements for Trustee.
Section 9.07
Insurance.
Section 9.08
Resignation and Removal of the Trustee.
Section 9.09
Successor Trustee.
Section 9.10
Merger or Consolidation of Trustee.
Section 9.11
Appointment of Co-Trustee or Separate Trustee.
Section 9.12
Federal Information Returns and Reports to Certificateholders; REMIC Administration.
 
ARTICLE X TERMINATION
Section 10.01
Termination Upon Repurchase by the Depositor or its Designee or Liquidation of the Mortgage Loans.
Section 10.02
Additional Termination Requirements.
 
ARTICLE XI [RESERVED]
 
 
ARTICLE XII MISCELLANEOUS PROVISIONS
Section 12.01
Intent of Parties.
Section 12.02
Amendment.
Section 12.03
Recordation of Agreement.
Section 12.04
Limitation on Rights of Certificateholders.
Section 12.05
Acts of Certificateholders.
Section 12.06
Governing Law.
Section 12.07
Notices.
Section 12.08
Severability of Provisions.
Section 12.09
Successors and Assigns.
Section 12.10
Article and Section Headings.
Section 12.11
Counterparts.
Section 12.12
Notice to Rating Agencies.
 

EXHIBITS
 
Exhibit A-1
-
Form of Class A Certificates and Class X Certificates
Exhibit A-2
-
Form of Class B Certificates
Exhibit A-3
-
Form of Class R Certificates
Exhibit B
-
Mortgage Loan Schedule
Exhibit C
-
[Reserved]
Exhibit D
-
Request for Release of Documents - Treasury Bank
Exhibit E-1
-
Form of Transferee Affidavit and Agreement pursuant to Section 860E(e)(4)
Exhibit E-2
-
Form of Transferor Certificate
Exhibit F-1
-
Form of Investment Letter
Exhibit F-2
-
Form of Rule 144A and Related Matters Certificate
Exhibit G
-
Form of Custodial Agreement
Exhibit H
-
Countrywide Servicing Agreement
Exhibit I
-
Assignment Agreement
Exhibit J
-
Mortgage Loan Purchase Agreement
Exhibit K
-
[Reserved]
Exhibit L
-
Form of Back-Up Certification
Exhibit M
-
Servicing Criteria to Be Addressed in Assessment of Compliance
Exhibit N
-
Form 10-D, Form 8-K and Form 10-K Reporting Responsibility
Exhibit O
-
Additional Disclosure Notification


 




POOLING AND SERVICING AGREEMENT
 
Pooling and Servicing Agreement, dated as of April 1, 2007, among Structured Asset Mortgage Investments II Inc., as depositor, EMC Mortgage Corporation, as seller in such capacity, the “Seller”) and master servicer (in such capacity, the “Master Servicer”) and Wells Fargo Bank, N.A., as trustee (the “Trustee”).
 
PRELIMINARY STATEMENT
 
On or prior to the Closing Date, the Depositor acquired the Mortgage Loans from the Seller. On the Closing Date, the Depositor will sell the Mortgage Loans and certain other property to the Trust Fund and receive in consideration therefor Certificates evidencing the entire beneficial ownership interest in the Trust Fund.
 
The Trustee shall make an election for the assets constituting REMIC I to be treated for federal income tax purposes as a REMIC. On the Startup Day, the REMIC I Regular Interests will be designated the “regular interests” in such REMIC, and the Class R-I Certificates will be designated the sole class of “residual interests” in such REMIC.
 
The Trustee shall make an election for the assets constituting REMIC II to be treated for federal income tax purposes as a REMIC. On the Startup Day, the REMIC II Regular Interests will be designated the “regular interests” in such REMIC, and the Class R-II Certificates will be designated the sole class of “residual interests” in such REMIC.
 
The Trustee shall make an election for the assets constituting REMIC III to be treated for federal income tax purposes as a REMIC. On the Startup Day, the Regular Certificates will be designated the “regular interests” in such REMIC, and the Class R-III Certificates will be designated the sole class of “residual interests” in such REMIC.
 
The Mortgage Loans will have an Outstanding Principal Balance as of the Cut-off Date, after deducting all Scheduled Principal due on or before the Cut-off Date, of $811,993,920.91. The initial principal amount of the Certificates will not exceed such Outstanding Principal Balance. The Group I Mortgage Loans will have an Outstanding Principal Balance as of the Cut-off Date, after deducting all Scheduled Principal due on or before the Cut-off Date, of $624,067,078.06. The Group II Mortgage Loans will have an Outstanding Principal Balance as of the Cut-off Date, after deducting all Scheduled Principal due on or before the Cut-off Date, of $92,790,811.91. The Group III Mortgage Loans will have an Outstanding Principal Balance as of the Cut-off Date, after deducting all Scheduled Principal due on or before the Cut-off Date, of $95,136,030.94.
 
In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Seller and the Trustee agree as follows:
 
 
 
ARTICLE I
DEFINITIONS
 
Whenever used in this Agreement, the following words and phrases, unless otherwise expressly provided or unless the context otherwise requires, shall have the meanings specified in this Article.
 
Accepted Master Servicing Practices: With respect to any Mortgage Loan, those customary mortgage servicing practices of prudent mortgage servicing institutions that master service mortgage loans of the same type and quality as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, to the extent applicable to the Trustee in its capacity as successor master servicer or the Master Servicer (except in its capacity as successor to the Servicer).
 
Account: The Distribution Account, the Master Servicer Collection Account, and the Protected Account as the context may require.
 
Accrued Certificate Interest: For any Certificate, other than the Class R Certificates, for any Distribution Date, the interest accrued during the related Interest Accrual Period at the applicable Pass-Through Rate on the Current Principal Amount, or in the case of the Interest Only Certificates, the Notional Amount, of such Certificate immediately prior to such Distribution Date, on the basis of a 360-day year consisting of twelve 30-day months, less (i) in the case of a Senior Certificate, such Certificate’s share of any Net Interest Shortfall from the related Mortgage Loans and, after the Cross-Over Date, the interest portion of any Realized Losses on the related Mortgage Loans allocated thereto in accordance with Section 6.02(g) and (ii) in the case of a Subordinate Certificate, such Certificate’s share of any Net Interest Shortfall from the related Mortgage Loans and the interest portion of any Realized Losses on the related Mortgage Loans borne by such Certificate in accordance with Section 6.02(g).
 
Additional Disclosure: As defined in Section 3.18.
 
Additional Form 10-D Disclosure: As defined in Section 3.18.
 
Additional Form 10-K Disclosure: As defined in Section 3.18.
 
Affiliate: As to any Person, any other Person controlling, controlled by or under common control with such Person. “Control” means the power to direct the management and policies of a Person, directly or indirectly, whether through ownership of voting securities, by contract or otherwise. “Controlled” and “Controlling” have meanings correlative to the foregoing. The Trustee may conclusively presume that a Person is not an Affiliate of another Person unless a Responsible Officer of the Trustee has actual knowledge to the contrary.
 
Agreement: This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.
 
Allocable Share: With respect to each Class of Subordinate Certificates:
 
(a) as to any Distribution Date and amounts distributable pursuant to clauses (i) and (iv) of the definition of Subordinate Optimal Principal Amount, the fraction, expressed as a percentage, the numerator of which is the Current Principal Amount of such Class and the denominator of which is the aggregate Current Principal Amount of all Classes of the Subordinate Certificates; and
 
(b) as to any Distribution Date and amounts distributable pursuant to clauses (ii), (iii) and (v) of the definition of Subordinate Optimal Principal Amount, and as to each Class of Subordinate Certificates (other than the Class of Subordinate Certificates having the lowest numerical designation as to which the Class Prepayment Distribution Trigger shall not be applicable) for which (x) the Class Prepayment Distribution Trigger has been satisfied on such Distribution Date, the fraction, expressed as a percentage, the numerator of which is the Current Principal Amount of such Class and the denominator of which is the aggregate Current Principal Amount of all such Classes of Subordinate Certificates and (y) the Class Prepayment Distribution Trigger has not been satisfied on such Distribution Date, 0%; provided that if on a Distribution Date, the Current Principal Amount of any Class of Subordinate Certificates for which the Class Prepayment Distribution Trigger was satisfied on such Distribution Date is reduced to zero, any amounts distributed pursuant to this clause (b), to the extent of such Class’s remaining Allocable Share, shall be distributed to the remaining Classes of Subordinate Certificates which satisfy the Class Prepayment Distribution Trigger and to the Class of Subordinate Certificates having the lowest numerical Class designation in reduction of their respective Current Principal Amounts in the order of their numerical Class designations.
 
Annual Statement of Compliance: As defined in Section 3.16.
 
Applicable Credit Rating: For any long-term deposit or security, a credit rating of AAA in the case of each of S&P and Fitch. For any short-term deposit or security, a rating of A-l+ in the case of S&P or F-1+ in the case of Fitch.
 
Applicable State Law: For purposes of Section 9.12(d), the Applicable State Law shall be (a) the law of the State of New York and (b) such other state law whose applicability shall have been brought to the attention of the Trustee by either (i) an Opinion of Counsel reasonably acceptable to the Trustee delivered to it by the Master Servicer or the Depositor, or (ii) written notice from the appropriate taxing authority as to the applicability of such state law.
 
Appraised Value: For any Mortgaged Property related to a Mortgage Loan, the amount set forth as the appraised value of such Mortgaged Property in an appraisal made for the mortgage originator in connection with its origination of the related Mortgage Loan.
 
Assignment Agreement: The agreement attached hereto as Exhibit I whereby the Servicing Agreement was assigned to the Trustee for the benefit of the Certificateholders.
 
Assessment of Compliance: As defined in Section 3.17.
 
Assumed Final Distribution Date: May 25, 2047, or if such day is not a Business Day, the next succeeding Business Day.
 
Attesting Party: As defined in Section 3.17.
 
Attestation Report: As defined in Section 3.17.
 
Available Funds: With respect to any Distribution Date, the sum of the Group I, Group II and Group III Available Funds for such Distribution Date.
 
Average Loss Severity Percentage: With respect to any Distribution Date and each Loan Group, the percentage equivalent of a fraction, the numerator of which is the sum of the Loss Severity Percentages for each Mortgage Loan in such Loan Group which had a Realized Loss and the denominator of which is the number of Mortgage Loans in the related Loan Group which had Realized Losses.
 
Bankruptcy Code: The United States Bankruptcy Code, as amended as codified in 11 U.S.C. §§101-1330.
 
Bankruptcy Loss: With respect to any Mortgage Loan, any Deficient Valuation or Debt Service Reduction related to such Mortgage Loan as reported by the applicable Servicer to the Master Servicer.
 
Book-Entry Certificates: Initially, all Classes of Certificates other than the Private Certificates and the Residual Certificates.
 
Business Day: Any day other than (i) a Saturday or a Sunday, or (ii) a day on which the New York Stock Exchange or Federal Reserve is closed or on which banking institutions in the jurisdiction in which the Trustee, the Master Servicer or the Servicer is located are authorized or obligated by law or executive order to be closed.
 
Certificate: Any mortgage pass-through certificate evidencing a beneficial ownership interest in the Trust Fund signed and countersigned by the Trustee in substantially the forms annexed hereto as Exhibits A-1, A-2 and A-3 with the blanks therein appropriately completed.
 
Certificate Group: The Group I Senior Certificates, Group II Senior Certificates and Group III Senior Certificates, as applicable.
 
Certificate Owner: Any Person who is the beneficial owner of a Certificate registered in the name of the Depository or its nominee.
 
Certificate Register: The register maintained pursuant to Section 5.02.
 
Certificateholder: A Holder of a Certificate.
 
Class: With respect to the Certificates, I-A-1, I-X-1, I-A-2, II-A-1, II-X-1, II-A-2, III-A-1, III-X-1, III-A-2, R-I, R-II, R-III, B-1, B-2, B-3, B-4, B-5, B-6 and B-7.
 
Class Prepayment Distribution Trigger: For a Class of Subordinate Certificates for any Distribution Date, the Class Prepayment Distribution Trigger is satisfied if the fraction (expressed as a percentage), the numerator of which is the aggregate Current Principal Amount of such Class and each Class of Subordinate Certificates subordinate thereto, if any, and the denominator of which is the Scheduled Principal Balances of all of the Mortgage Loans as of the related Due Date, equals or exceeds such percentage calculated as of the Closing Date.
 
Class R Certificates: The Class R-I, Class R-II and Class R-III Certificates.
 
Class R-I Deposit: The $50 deposit into the Distribution Account by the Depositor on the Closing Date to pay the Class R-I Certificates in accordance with Section 6.01(a) on the Distribution Date occurring in May 2007.
 
Class R-II Deposit: The $50 deposit into the Distribution Account by the Depositor on the Closing Date to pay the Class R-II Certificates in accordance with Section 6.01(a) on the Distribution Date occurring in May 2007.
 
Class R-III Deposit: The $50 deposit into the Distribution Account by the Depositor on the Closing Date to pay the Class R-III Certificates in accordance with Section 6.01(a) on the Distribution Date occurring in May 2007.
 
Closing Date: April 30, 2007
 
Code: The Internal Revenue Code of 1986, as amended.
 
Compensating Interest Payment: As defined in Section 6.06.
 
Countrywide: Countrywide Home Loans Servicing LP, or its successor in interest.
 
Countrywide Servicing Agreements: The Seller’s Warranties and Servicing Agreement, dated as of November 30, 2006, September 1, 2002, as amended by Amendment No. 1, dated January 1, 2003, Amendment No.2, dated September 1, 2004, Amendment No. 3, dated May 1, 2005 and Amendment Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement, dated as of January 1, 2006, by and between the EMC and Countrywide Home Loans, Inc., attached hereto as Exhibit H, as amended by the Assignment, Assumption and Recognition Agreement, dated as of April 30, 2007 among EMC, Countrywide Home Loans, Inc. and the Trustee (the “Countrywide Assignment Agreement”), attached hereto as Exhibit I.
 
Corresponding Certificates: With respect to each REMIC II Regular Interest, the Class with the same designation.
 
Corporate Trust Office: The office of the Trustee at which at any particular time its corporate trust business is administered, which office, at the date of the execution of this Agreement, is located at Wells Fargo Bank, N.A., P.O. Box 98, Columbia, Maryland 21046 (or for overnight deliveries, 9062 Old Annapolis Road, Columbia, Maryland 21045), (Attention: Corporate Trust Services - BSARM 2007-3), facsimile no.: (410) 715-2380. With respect to the presentment of Certificates for registration of transfer, exchange or final payment, Wells Fargo Bank, N.A., Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention: Corporate Trust/ BSARM Series 2007-3.
 
Cross-Over Date: The first Distribution Date on which the aggregate Current Principal Amount of the Subordinate Certificates has been reduced to zero (giving effect to all distributions on such Distribution Date).
 
Current Principal Amount: With respect to any Certificate as of any Distribution Date, the initial principal amount of such Certificate plus any Subsequent Recoveries added to the Current Principal Amount of such Certificate pursuant to Section 6.02(h), and reduced by (i) all amounts distributed on previous Distribution Dates on such Certificate with respect to principal, (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such Certificate, taking account of the Loss Allocation Limitation and (iii) in the case of a Subordinate Certificate, such Certificate’s pro rata share, if any, of the applicable Subordinate Certificate Writedown Amount for previous Distribution Dates. With respect to any Class of Certificates, the Current Principal Amount thereof will equal the sum of the Current Principal Amounts of all Certificates in such Class. Notwithstanding the foregoing, solely for purposes of giving consents, directions, waivers, approvals, requests and notices, the Class R-I, Class R-II and Class R-III Certificates after the Distribution Date on which they each receive the distribution of the last dollar of their respective original principal amount shall be deemed to have Current Principal Amounts equal to their respective Current Principal Amounts on the day immediately preceding such Distribution Date.
 
Custodial Agreement: the custodial agreement dated as of the Closing Date, among the Depositor, the Seller, the Master Servicer, the Trustee and Treasury Bank, A Division of Countrywide Bank, FSB, as Custodian, substantially in the form of Exhibit G hereto.
 
Custodian: Treasury Bank, a Division of Countrywide Bank, FSB, or any successor custodian appointed pursuant to the provisions hereof and of the Custodial Agreement, with respect to the Mortgage Loans set forth on Schedule I to the Custodial Agreement.
 
Cut-off Date: April 1, 2007.
 
Cut-off Date Balance: $811,993,920.91.
 
Debt Service Reduction: Any reduction of the Scheduled Payments which a Mortgagor is obligated to pay with respect to a Mortgage Loan as a result of any proceeding under the Bankruptcy Code or any other similar state law or other proceeding.
 
Deficient Valuation: With respect to any Mortgage Loan, a valuation of the Mortgaged Property by a court of competent jurisdiction in an amount less than the then outstanding indebtedness under the Mortgage Loan, which valuation results from a proceeding initiated under the Bankruptcy Code or any other similar state law or other proceeding.
 
Delinquent: A Mortgage Loan is “delinquent” if any payment due thereon is not made pursuant to the terms of such Mortgage Loan by the close of business on the day such payment is scheduled to be due. A Mortgage Loan is “30 days delinquent” if such payment has not been received by the close of business on the last day of the month in which such payment was due. For example, a Mortgage Loan with a payment due on December 1 that remained unpaid as of the close of business on December 31 would then be considered to be 30 to 59 days delinquent. Similarly for “60 days delinquent,” “90 days delinquent” 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. This method of determining delinquencies is also referred to as the MBA method.
 
Depositor: Structured Asset Mortgage Investments II Inc., a Delaware corporation, or its successors in interest.
 
Depository: The Depository Trust Company, the nominee of which is Cede & Co., or any successor thereto.
 
Depository Agreement: The meaning specified in Subsection 5.01(a) hereof.
 
Depository Participant: A broker, dealer, bank or other financial institution or other Person for whom from time to time the Depository effects book-entry transfers and pledges of securities deposited with the Depository.
 
Designated Depository Institution: A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.
 
Determination Date: With respect to each Mortgage Loan, the Determination Date as defined in the Servicing Agreement.
 
Disqualified Organization: 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 or any successor thereto, a majority of its board of directors is not selected by such governmental unit), (ii) any 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 or (v) any other Person so designated by the Trustee based upon an Opinion of Counsel that the holding of an ownership interest in a Residual Certificate by such Person may cause any REMIC contained in the Trust or any Person having an ownership interest in the Residual Certificate (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 Residual 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 Account: The trust account or accounts created and maintained pursuant to Section 4.04, which shall be denominated “Wells Fargo, N.A., as Trustee for the benefit of the registered holders of Structured Asset Mortgage Investments II Inc., Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 - Distribution Account.” The Distribution Account shall be an Eligible Account.
 
Distribution Account Deposit Date: The Business Day prior to each Distribution Date.
 
Distribution Date: The 25th day of any month, beginning in the month immediately following the month of the Closing Date, or, if such 25th day is not a Business Day, the Business Day immediately following.
 
DTC Custodian: Wells Fargo Bank, N.A., or its successors in interest as custodian for the Depository.
 
Due Date: With respect to each Mortgage Loan, the date in each month on which its Scheduled Payment is due if such due date is the first day of a month and otherwise is deemed to be the first day of the following month or such other date specified in the Servicing Agreement.
 
Due Period: With respect to any Distribution Date and each Mortgage Loan, the period commencing on the second day of the month preceding the month in which the Distribution Date occurs and ending at the close of business on the first day of the month in which the Distribution Date occurs.
 
EDGAR: As defined in Section 3.18.
 
Eligible Account: Any of (i) a segregated account maintained with a federal or state chartered depository institution (A) the short-term obligations of which are rated A-2 or better by S&P and P-1 by Moody’s at the time of any deposit therein or (B) insured by the FDIC (to the limits established by such Corporation), the uninsured deposits in which account are otherwise secured such that, as evidenced by an Opinion of Counsel (obtained by the Person requesting that the account be held pursuant to this clause (i)) delivered to the Trustee prior to the establishment of such account, the Certificateholders will have a claim with respect to the funds in such account and a perfected first priority security interest against any collateral (which shall be limited to Permitted Investments, each of which shall mature not later than the Business Day immediately preceding the Distribution Date next following the date of investment in such collateral or the Distribution Date if such Permitted Investment is an obligation of the institution that maintains the Distribution Account) securing such funds that is superior to claims of any other depositors or general creditors of the depository institution with which such account is maintained, (ii) a segregated trust account or accounts maintained with a federal or state chartered depository institution or trust company with trust powers acting in its fiduciary capacity or (iii) a segregated account or accounts of a depository institution acceptable to the Rating Agencies (as evidenced in writing by the Rating Agencies that use of any such account as the Distribution Account will not have an adverse effect on the then-current ratings assigned to the Classes of Certificates then rated by the Rating Agencies). Eligible Accounts may bear interest.
 
EMC: EMC Mortgage Corporation, or its successor in interest.
 
ERISA: The Employee Retirement Income Security Act of 1974, as amended.
 
Event of Default: An event of default described in Section 8.01.
 
Excess Liquidation Proceeds: To the extent that such amount is not required by law to be paid to the related Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to a Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance of such Mortgage Loan and accrued but unpaid interest at the related Mortgage Interest Rate through the last day of the month in which the related Liquidation Date occurs, plus (ii) related Liquidation Expenses.
 
Exchange Act: Securities Exchange Act of 1934, as amended.
 
Fannie Mae: Federal National Mortgage Association or any successor thereto.
 
FDIC: Federal Deposit Insurance Corporation or any successor thereto.
 
Final Certification: The certification substantially in the form of Exhibit Three to the Custodial Agreement.
 
Fiscal Quarter: December 1 to February 29 (or the last day in such month), March 1 to May 31, June 1 to August 31, or September 1 to November 30, as applicable.
 
Fitch: Fitch, Inc.
 
Fractional Undivided Interest: With respect to any Class of Certificates, the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Current Principal Amount, or notional amount in the case of the Interest Only Certificates, of such Certificate and the denominator of which is the Current Principal Amount, or notional amount in the case of the Interest Only Certificates, of such Class. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) each Class of Residual Certificates will be deemed to equal 0.25% multiplied by the percentage interest of such Residual Certificate, (ii) each Class of Interest Only Certificates will be deemed to equal 1.00% multiplied by a fraction, the numerator of which is the notional amount of such Certificate and the denominator of which is the aggregate notional amount of its respective Class and (iii) a Certificate of any other Class will be deemed to equal 99.25% multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of all the Certificates; provided, however, the percentage in clause (iii) above should be increased by 1.00% upon the retirement of each Class of Interest Only Certificates.
 
Freddie Mac: Freddie Mac, formerly the Federal Home Loan Mortgage Corporation, or any successor thereto.
 
Global Certificate: Any Private Certificate registered in the name of the Depository or its nominee, beneficial interests in which are reflected on the books of the Depository or on the books of a Person maintaining an account with such Depository (directly or as an indirect participant in accordance with the rules of such depository).
 
Gross Margin: As to each Mortgage Loan, the fixed percentage set forth in the related Mortgage Note and indicated on the Mortgage Loan Schedule which percentage is added to the related Index on each Interest Adjustment Date to determine (subject to rounding, the minimum and maximum Mortgage Interest Rate and the Periodic Rate Cap) the Mortgage Interest Rate until the next Interest Adjustment Date.
 
Group I Available Funds, Group II Available Funds and Group III Available Funds: With respect to any Distribution Date, an amount equal to the aggregate of the following amounts with respect to the Mortgage Loans in the related Loan Group: (a) all previously undistributed payments on account of principal (including the principal portion of Scheduled Payments, Principal Prepayments, the principal portion of Net Liquidation Proceeds) and all previously undistributed payments on account of interest received after the Cut-off Date and on or prior to the related Determination Date and all proceeds from the repurchase of any Mortgage Loans in the related Loan Group, (b) any Monthly Advances by the Servicer or the Master Servicer with respect to such Distribution Date, (c) any Compensating Interest made by the Servicer with respect to such Distribution Date and (d) any reimbursed amount in connection with losses on investments of deposits in an account, except:
 
(i) all payments that were due on or before the Cut-off Date;
 
(ii) all Principal Prepayments and Liquidation Proceeds received after the applicable Prepayment Period;
 
(iii) all payments, other than Principal Prepayments, that represent early receipt of Scheduled Payments due on a date or dates subsequent to the related Due Date;
 
(iv) amounts received on particular Mortgage Loans as late payments of principal or interest and respecting which, and to the extent that, there are any unreimbursed Monthly Advances;
 
(v) amounts representing Monthly Advances determined to be Nonrecoverable Advances;
 
(vi) any investment earnings on amounts on deposit in the Distribution Account or Master Servicer Collection Account and amounts permitted to be withdrawn from the Distribution Account or Master Servicer Collection pursuant to this Agreement;
 
(vii) amounts needed to pay the Servicing Fees or to reimburse the Servicer or the Master Servicer for amounts due under the Servicing Agreement and the Agreement to the extent such amounts have not been retained by, or paid previously to, the Servicer or the Master Servicer;
 
(viii) any fees payable under any lender-paid primary mortgage insurance policy; and
 
(ix) any expenses or other amounts reimbursable to the Trustee and the Custodian pursuant to Section 7.04(c) or Section 9.05.
 
Group I Mortgage Loans: The Mortgage Loans identified as such on the Mortgage Loan Schedule.
 
Group I Senior Certificates: The Class I-A-1, Class I-A-2 and Class I-X-1 Certificates.
 
Group I Senior Optimal Principal Amount, Group II Senior Optimal Principal Amount, and Group III Senior Optimal Principal Amount: With respect to each Distribution Date, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amount of the Group I, Group II and Group III Senior Certificates, as applicable, immediately prior to such Distribution Date):
 
(i) the applicable Senior Percentage of the principal portion of all Scheduled Payments due on each Outstanding Mortgage Loan in the related Loan Group on the related Due Date as specified in the amortization schedule at the time applicable thereto (after adjustments for previous Principal Prepayments but before any adjustment to such amortization schedule by reason of any bankruptcy or similar proceeding or any moratorium or similar waiver or grace period);
 
(ii) the applicable Senior Prepayment Percentage of the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group which was the subject of a Principal Prepayment in full received by the Servicer during the related Prepayment Period;
 
(iii) the applicable Senior Prepayment Percentage of all Principal Prepayments in part received by the Servicer during the related Prepayment Period with respect to each Mortgage Loan in the related Loan Group;
 
(iv) the lesser of (a) the applicable Senior Prepayment Percentage of the sum of (A) all Net Liquidation Proceeds allocable to principal received in respect of each Mortgage Loan in the related Loan Group which became a Liquidated Mortgage Loan during the related Prepayment Period (other than Mortgage Loans described in the immediately following clause (B)) and all Subsequent Recoveries received in respect of each Liquidated Mortgage Loan in the related Loan Group during the related Due Period and (B) the Scheduled Principal Balance of each such Mortgage Loan in the related Loan Group purchased by an insurer from the Trustee during the related Prepayment Period pursuant to the related Primary Mortgage Insurance Policy, if any, or otherwise; and (b) the applicable Senior Percentage of the sum of (A) the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group which became a Liquidated Mortgage Loan during the related Prepayment Period (other than the Mortgage Loans described in the immediately following clause (B)) and (B) the Scheduled Principal Balance of each such Mortgage Loan in the related Loan Group that was purchased by an insurer from the Trust during the related Prepayment Period pursuant to the related Primary Mortgage Insurance Policy, if any or otherwise; and
 
(v) the applicable Senior Prepayment Percentage of the sum of (a) the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group which was repurchased by the Seller in connection with such Distribution Date and (b) the excess, if any, of the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group that has been replaced by the Seller with a Substitute Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement in connection with such Distribution Date over the Scheduled Principal Balance of each such Substitute Mortgage Loan.
 
Group I Senior Percentage: Initially, 95.75%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amount of the Group I Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group I Mortgage Loans as of the beginning of the related Due Period.
 
Group I Senior Prepayment Percentage: On any Distribution Date occurring during the periods set forth below, as follows:
 
Period (dates inclusive)
Group I Senior Prepayment Percentage
May 25, 2007- April 25, 2014
100%
May 25, 2014 - April 25, 2015
Group I Senior Percentage plus 70% of the Group I Subordinate Percentage
May 25, 2015 - April 25, 2016
Group I Senior Percentage plus 60% of the Group I Subordinate Percentage
May 25, 2016 - April 25, 2017
Group I Senior Percentage plus 40% of the Group I Subordinate Percentage
May 25, 2017 - April 25, 2018
Group I Senior Percentage plus 20% of the Group I Subordinate Percentage
May 25, 2018 and thereafter
Group I Senior Percentage

In addition, no reduction of the Group I Senior Prepayment Percentage shall occur on any Distribution Date unless, as of the last day of the month preceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2014 and April 2015, (b) 35% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2015 and April 2016, (c) 40% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2016 and April 2017 (d) 45% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2017 and April 2018, and (e) 50% of the Original Subordinate Principal Balance if such Distribution Date occurs during or after May 2018.
 
In addition, if on any Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and bankruptcy and such Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50% and (b)(i) on or prior to the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 20% of the Original Subordinate Principal Balance and (ii) after the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 30% of the Original Subordinate Principal Balance, then, the Group I Senior Prepayment Percentage for such Distribution Date will equal the Group I Senior Percentage; provided, however, if on such Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages on or prior to the Distribution Date occurring in April 2010 and the above delinquency and loss tests are met, then the Group I Senior Prepayment Percentage for such Distribution Date will equal the Group I Senior Percentage plus 50% of the Group I Subordinate Percentage.
 
Notwithstanding the foregoing, if on any Distribution Date, the percentage, the numerator of which is the aggregate Current Principal Amount of the Senior Certificates immediately preceding such Distribution Date, and the denominator of which is the Scheduled Principal Balance of the Mortgage Loans as of the beginning of the related Due Period, exceeds such percentage as of the Cut-off Date, then the Group I Senior Prepayment Percentage for such Distribution Date will equal 100%. On the Distribution Date on which the Current Principal Amounts of the Group I Senior Certificates are reduced to zero, the Group I Senior Prepayment Percentage shall be the minimum percentage sufficient to effect such reduction and thereafter shall be zero.
 
Group I Subordinate Percentage: On any Distribution Date, 100% minus the Group I Senior Percentage.
 
Group I Subordinate Prepayment Percentage: With respect to the Group I Mortgage Loans, on any Distribution Date, 100% minus the Group I Senior Prepayment Percentage, except that on any Distribution Date after the Current Principal Amounts of the Group I Senior Certificates have each been reduced to zero, if (a) the weighted average of the Subordinate Percentages on such Distribution Date equals or exceeds two times the initial weighted average of the Subordinate Percentages and (b) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 100%, the Group I Subordinate Prepayment Percentage will equal 100%. If the test set forth in the preceding sentence is not satisfied on any Distribution Date after the Current Principal Amount of the Group I Senior Certificates has each been reduced to zero, then the Group I Subordinate Prepayment Percentage will equal zero for such Distribution Date.
 
Group II Mortgage Loans: The Mortgage Loans identified as such on the Mortgage Loan Schedule.
 
Group II Senior Certificates: The Class II-A-1, Class II-A-2 and Class II-X-1 Certificates.
 
Group II Senior Percentage: Initially, 95.75%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amount of the Group II Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group II Mortgage Loans as of the beginning of the related Due Period.
 
Group II Senior Prepayment Percentage: On any Distribution Date occurring during the periods set forth below, as follows:
 
Period (dates inclusive)
Group II Senior Prepayment Percentage
May 25, 2007- April 25, 2014
100%
May 25, 2014 - April 25, 2015
Group II Senior Percentage plus 70% of the Group II Subordinate Percentage
May 25, 2015 - April 25, 2016
Group II Senior Percentage plus 60% of the Group II Subordinate Percentage
May 25, 2016 - April 25, 2017
Group II Senior Percentage plus 40% of the Group II Subordinate Percentage
May 25, 2017 - April 25, 2018
Group II Senior Percentage plus 20% of the Group II Subordinate Percentage
May 25, 2018 and thereafter
Group II Senior Percentage

In addition, no reduction of the Group II Senior Prepayment Percentage shall occur on any Distribution Date unless, as of the last day of the month preceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2014 and April 2015, (b) 35% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2015 and April 2016, (c) 40% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2016 and April 2017, (d) 45% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2017 and April 2018, and (e) 50% of the Original Subordinate Principal Balance if such Distribution Date occurs during or after May 2018.
 
In addition, if on any Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and bankruptcy and such Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50% and (b)(i) on or prior to the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 20% of the Original Subordinate Principal Balance and (ii) after the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 30% of the Original Subordinate Principal Balance, then, the Group II Senior Prepayment Percentage for such Distribution Date will equal the Group II Senior Percentage; provided, however, if on such Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages on or prior to the Distribution Date occurring in April 2010 and the above delinquency and loss tests are met, then the Group II Senior Prepayment Percentage for such Distribution Date will equal the Group II Senior Percentage plus 50% of the Group II Subordinate Percentage.
 
Notwithstanding the foregoing, if on any Distribution Date, the percentage, the numerator of which is the aggregate Current Principal Amount of the Senior Certificates immediately preceding such Distribution Date, and the denominator of which is the Scheduled Principal Balance of the Mortgage Loans as of the beginning of the related Due Period, exceeds such percentage as of the Cut-off Date, then the Group II Senior Prepayment Percentage for such Distribution Date will equal 100%. On the Distribution Date on which the Current Principal Amounts of the Group II Senior Certificates are reduced to zero, the Group II Senior Prepayment Percentage shall be the minimum percentage sufficient to effect such reduction and thereafter shall be zero.
 
Group II Subordinate Percentage: On any Distribution Date, 100% minus the Group II Senior Percentage.
 
Group II Subordinate Prepayment Percentage: With respect to the Group II Mortgage Loans, on any Distribution Date, 100% minus the Group II Senior Prepayment Percentage, except that on any Distribution Date after the Current Principal Amounts of the Group II Senior Certificates have each been reduced to zero, if (a) the weighted average of the Subordinate Percentages on such Distribution Date equals or exceeds two times the initial weighted average of the Subordinate Percentages and (b) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 100%, the Group II Subordinate Prepayment Percentage will equal 100%. If the test set forth in the preceding sentence is not satisfied on any Distribution Date after the Current Principal Amount of the Group II Senior Certificates has each been reduced to zero, then the Group II Subordinate Prepayment Percentage will equal zero for such Distribution Date.
 
Group III Mortgage Loans: The Mortgage Loans identified as such on the Mortgage Loan Schedule.
 
Group III Senior Certificates: The Class III-A-1, Class III-A-2 and Class III-X-1 Certificates.
 
Group III Senior Percentage: Initially, 95.75%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amount of the Group III Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group III Mortgage Loans as of the beginning of the related Due Period.
 
Group III Senior Prepayment Percentage: On any Distribution Date occurring during the periods set forth below, as follows:
 
Period (dates inclusive)
Group III Senior Prepayment Percentage
May 25, 2007- April 25, 2014
100%
May 25, 2014 - April 25, 2015
Group III Senior Percentage plus 70% of the Group I Subordinate Percentage
May 25, 2015 - April 25, 2016
Group III Senior Percentage plus 60% of the Group I Subordinate Percentage
May 25, 2016 - April 25, 2017
Group III Senior Percentage plus 40% of the Group I Subordinate Percentage
May 25, 2017 - April 25, 2018
Group III Senior Percentage plus 20% of the Group III Subordinate Percentage
May 25, 2018 and thereafter
Group III Senior Percentage

In addition, no reduction of the Group III Senior Prepayment Percentage shall occur on any Distribution Date unless, as of the last day of the month preceding such Distribution Date, (A) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50%; and (B) cumulative Realized Losses on the Mortgage Loans do not exceed (a) 30% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2014 and April 2015, (b) 35% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2015 and April 2016, (c) 40% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2016 and April 2017, (d) 45% of the Original Subordinate Principal Balance if such Distribution Date occurs between and including May 2017 and April 2018, and (e) 50% of the Original Subordinate Principal Balance if such Distribution Date occurs during or after May 2018.
 
In addition, if on any Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages, and (a) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and bankruptcy and such Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50% and (b)(i) on or prior to the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 20% of the Original Subordinate Principal Balance and (ii) after the Distribution Date in April 2010 cumulative Realized Losses on the Mortgage Loans as of the end of the related Prepayment Period do not exceed 30% of the Original Subordinate Principal Balance, then, the Group III Senior Prepayment Percentage for such Distribution Date will equal the Group III Senior Percentage; provided, however, if on such Distribution Date the current weighted average of the Subordinate Percentages is equal to or greater than two times the initial weighted average of the Subordinate Percentages on or prior to the Distribution Date occurring in April 2010 and the above delinquency and loss tests are met, then the Group III Senior Prepayment Percentage for such Distribution Date will equal the Group III Senior Percentage plus 50% of the Group III Subordinate Percentage.
 
Notwithstanding the foregoing, if on any Distribution Date, the percentage, the numerator of which is the aggregate Current Principal Amount of the Senior Certificates immediately preceding such Distribution Date, and the denominator of which is the Scheduled Principal Balance of the Mortgage Loans as of the beginning of the related Due Period, exceeds such percentage as of the Cut-off Date, then the Group III Senior Prepayment Percentage for such Distribution Date will equal 100%. On the Distribution Date on which the Current Principal Amounts of the Group III Senior Certificates are reduced to zero, the Group III Senior Prepayment Percentage shall be the minimum percentage sufficient to effect such reduction and thereafter shall be zero.
 
Group III Subordinate Percentage: On any Distribution Date, 100% minus the Group III Senior Percentage.
 
Group III Subordinate Prepayment Percentage: With respect to the Group III Mortgage Loans, on any Distribution Date, 100% minus the Group III Senior Prepayment Percentage, except that on any Distribution Date after the Current Principal Amounts of the Group III Senior Certificates have each been reduced to zero, if (a) the weighted average of the Subordinate Percentages on such Distribution Date equals or exceeds two times the initial weighted average of the Subordinate Percentages and (b) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the sum of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 100%, the Group III Subordinate Prepayment Percentage will equal 100%. If the test set forth in the preceding sentence is not satisfied on any Distribution Date after the Current Principal Amount of the Group III Senior Certificates has each been reduced to zero, then the Group III Subordinate Prepayment Percentage will equal zero for such Distribution Date.
 
Holder: The Person in whose name a Certificate is registered in the Certificate Register, except that, subject to Subsections 12.02(b) and 12.05(e), solely for the purpose of giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Master Servicer or the Trustee or any Affiliate thereof shall be deemed not to be outstanding and the Fractional Undivided Interest evidenced thereby shall not be taken into account in determining whether the requisite percentage of Fractional Undivided Interests necessary to effect any such consent has been obtained.
 
Indemnified Persons: The Trustee, the Master Servicer and the Custodian and their officers, directors, agents and employees and, with respect to the Trustee, any separate co-trustee and its officers, directors, agents and employees.
 
Independent: When used with respect to any specified Person, this term means that such Person (a) is in fact independent of the Depositor or the Master Servicer and of any Affiliate of the Depositor or the Master Servicer, (b) does not have any direct financial interest or any material indirect financial interest in the Depositor or the Master Servicer or any Affiliate of the Depositor or the Master Servicer and (c) is not connected with the Depositor or the Master Servicer or any Affiliate as an officer, employee, promoter, underwriter, trustee, partner, director or person performing similar functions.
 
Index: The index, if any, specified in a Mortgage Note by reference to which the related Mortgage Interest Rate will be adjusted from time to time.
 
Individual Certificate: Any Private Certificate registered in the name of the Holder other than the Depository or its nominee.
 
Initial Certification: The certification substantially in the form of Exhibit One to the Custodial Agreement.
 
Institutional Accredited Investor: Any Person meeting the requirements of Rule 501(a)(l), (2), (3) or (7) of Regulation D under the Securities Act or any entity all of the equity holders in which come within such paragraphs.
 
Insurance Policy: With respect to any Mortgage Loan, any standard hazard insurance policy, flood insurance policy or title insurance policy.
 
Insurance Proceeds: Amounts paid by the insurer under any Insurance Policy covering any Mortgage Loan or Mortgaged Property other than amounts required to be paid over to the Mortgagor pursuant to law or the related Mortgage Note or Security Instrument and other than amounts used to repair or restore the Mortgaged Property or to reimburse insured expenses.
 
Interest Accrual Period: With respect to each Distribution Date, for each Class of Certificates, the calendar month preceding the month in which such Distribution Date occurs.
 
Interest Adjustment Date: With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.
 
Interest Only Certificates: The Class I-X-1, Class II-X-1 and Class III-X-1 Certificates.
 
Interest Shortfall: With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:
 
(a) Partial principal prepayments received during the relevant Prepayment Period: The difference between (i) one month’s interest at the applicable Net Rate on the amount of such prepayment and (ii) the amount of interest of such prepayment (adjusted to the applicable Net Rate) received at the time of such prepayment;
 
(b) Principal prepayments in full received during the relevant Prepayment Period: The difference between (i) one month’s interest at the applicable Net Rate on the Scheduled Principal Balance of such Mortgage Loan immediately prior to such prepayment and (ii) the amount of interest of such prepayment (adjusted to the applicable Net Rate) received at the time of such prepayment; and
 
(c) Relief Act Mortgage Loans: As to any Relief Act Mortgage Loan, the excess of (i) 30 days’ interest (or, in the case of a principal prepayment in full, interest to the date of prepayment) on the Scheduled Principal Balance thereof (or, in the case of a principal prepayment in part, on the amount so prepaid) at the related Net Rate over (ii) 30 days’ interest (or, in the case of a principal prepayment in full, interest to the date of prepayment) on such Scheduled Principal Balance (or, in the case of a Principal Prepayment in part, on the amount so prepaid) at the Net Rate required to be paid by the Mortgagor as limited by application of the Relief Act.
 
Interim Certification: The certification substantially in the form of Exhibit Two to the Custodial Agreement.
 
Investment Letter: The letter to be furnished by each Institutional Accredited Investor which purchases any of the Private Certificates in connection with such purchase, substantially in the form set forth as Exhibit F-1 hereto.
 
Issuing Entity: Bear Stearns ARM Trust 2007-3.
 
Lender-Paid PMI Rate: With respect to each Mortgage Loan covered by a lender-paid primary mortgage insurance policy, the amount payable to the related insurer, as stated in the Mortgage Loan Schedule.
 
Liquidated Mortgage Loan: Any defaulted Mortgage Loan as to which the Servicer or the Master Servicer has determined that all amounts it expects to recover from or on account of such Mortgage Loan have been recovered.
 
Liquidation Date: With respect to any Liquidated Mortgage Loan, the date on which the Master Servicer or the Servicer has certified that such Mortgage Loan has become a Liquidated Mortgage Loan.
 
Liquidation Expenses: With respect to a Mortgage Loan in liquidation, unreimbursed expenses paid or incurred by or for the account of the Master Servicer or the Servicer in connection with the liquidation of such Mortgage Loan and the related Mortgage Property, such expenses including (a) property protection expenses, (b) property sales expenses, (c) foreclosure and sale costs, including court costs and reasonable attorneys’ fees, and (d) similar expenses reasonably paid or incurred in connection with liquidation.
 
Liquidation Proceeds: Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through trustee’s sale, foreclosure sale, Insurance Proceeds, condemnation proceeds or otherwise and any Subsequent Recoveries.
 
Loan Group: Loan Group I, Loan Group II and Loan Group III, as applicable.
 
Loan Group I: The group of Mortgage Loans designated as belonging to Loan Group I on the Mortgage Loan Schedule.
 
Loan Group II: The group of Mortgage Loans designated as belonging to Loan Group II on the Mortgage Loan Schedule.
 
Loan Group III: The group of Mortgage Loans designated as belonging to Loan Group III on the Mortgage Loan Schedule.
 
Loan-to-Value Ratio: With respect to any Mortgage Loan, the fraction, expressed as a percentage, the numerator of which is the original principal balance of the related Mortgage Loan and the denominator of which is the Original Value of the related Mortgaged Property.
 
Loss Allocation Limitation: The meaning specified in Section 6.02(c) hereof.
 
Loss Severity Percentage: With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the amount of Realized Losses incurred on a Mortgage Loan and the denominator of which is the Scheduled Principal Balance of such Mortgage Loan immediately prior to the liquidation of such Mortgage Loan.
 
Lost Notes: The original Mortgage Notes that have been lost, as indicated on the Mortgage Loan Schedule.
 
Master Servicer: As of the Closing Date, EMC Mortgage Corporation and, thereafter, its respective successors in interest who meet the qualifications of the Servicing Agreement and this Agreement.
 
Master Servicer Collection Account: The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated “EMC Mortgage Corporation, as Master Servicer for the benefit of Wells Fargo, N.A, in trust for registered Holders of Structured Asset Mortgage Investments II Inc., Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 - Master Servicer Collection Account.” The Master Servicer Collection Account shall be an Eligible Account.
 
Master Servicing Compensation: For any Distribution Date, any amounts earned on permitted investments in the Master Servicer Collection Account.
 
Material Defect: The meaning specified in Section 2.02(a).
 
Maximum Lifetime Mortgage Rate: The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.
 
MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
 
MERS® 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® System.
 
Minimum Lifetime Mortgage Rate: The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.
 
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, or as nominee for any subsequent assignee of the originator pursuant to an assignment of mortgage to MERS.
 
Monthly Advance: An advance of principal or interest required to be made by the applicable Servicer pursuant to the Servicing Agreement or the Master Servicer pursuant to Section 6.05.
 
Moody’s: Moody’s Investors Service, Inc. or its successor in interest.
 
Mortgage File: The mortgage documents listed in Section 2.01(b) pertaining to a particular Mortgage Loan and any additional documents required to be added to the Mortgage File pursuant to this Agreement.
 
Mortgage Interest Rate: The annual rate at which interest accrues from time to time on any Mortgage Loan pursuant to the related Mortgage Note, which rate is initially equal to the “Mortgage Interest Rate” set forth with respect thereto on the Mortgage Loan Schedule.
 
Mortgage Loan: A mortgage loan transferred and assigned to the Trustee pursuant to Section 2.01 or Section 2.04 and held as a part of the Trust Fund, as identified in the Mortgage Loan Schedule (which shall include, without limitation, each related Mortgage Note, Mortgage and Mortgage File and all rights appertaining thereto), including a mortgage loan the property securing which has become an REO Property.
 
Mortgage Loan Purchase Agreement: The Mortgage Loan Purchase Agreement dated as of April 1, 2007, between EMC Mortgage Corporation, as seller, and Structured Asset Mortgage Investments II Inc., as purchaser, and all amendments thereof and supplements thereto, attached as Exhibit J.
 
Mortgage Loan Schedule: The list of Mortgage Loans (as from time to time amended by the Trustee to reflect the repurchase or substitute of Mortgage Loans pursuant to the provisions of this Agreement) transferred to the Trustee as part of the Trust Fund and from time to time subject to this Agreement, the initial Mortgage Loan Schedule being attached hereto as Exhibit B setting forth the following information with respect to each Mortgage Loan:
 
(a)  the city, state and zip code of the Mortgaged Property;
(b)  the property type;
(c)  the Mortgage Interest Rate;
(d)  the Servicing Fee Rate;
(e)  the Trustee Fee Rate;
(f)  the LPMI Fee, if applicable;
(g)  [reserved];
(h)  the Net Rate;
(i)  the maturity date;
(j)  the stated original term to maturity;
(k)  the stated remaining term to maturity;
(l)  the original Principal Balance;
(m)  the first payment date;
(n)  the principal and interest payment in effect as of the Cut-off Date;
(o)  the unpaid Principal Balance as of the Cut-off Date;
(p)  the Loan-to-Value Ratio at origination;
(q)  the insurer of any Primary Mortgage Insurance Policy;
(r)  the MIN with respect to each MOM Loan;
(s)  the Gross Margin, if applicable;
(t)  the next Adjustment Date, if applicable;
(u)  the Maximum Mortgage Rate, if applicable;
(v)  the Minimum Mortgage Rate, if applicable;
(w)  the Periodic Rate Cap, if applicable;
(x)  the Loan Group, if applicable;
(y)  a code indicating whether the Mortgage Loan is negatively amortizing;
(z)  which Mortgage Loans adjust after an initial fixed-rate period of one, two, three, five, seven or ten years or any other period;
(aa)  the Prepayment Charge, if any;
(bb)  lien position (e.g., first lien or second lien);
(cc)  a code indicating whether the Mortgage Loan is has a balloon payment;
(dd)  a code indicating whether the Mortgage Loan is an interest-only loan;
(ee)  the interest-only term, if applicable;
(ff)  the Mortgage Loan Seller; and
(gg)  the original amortization term.
Such schedule also shall set forth for all of the Mortgage Loans, the total number of Mortgage Loans, the total of each of the amounts described under (n) and (j) above, the weighted average by principal balance as of the Cut-off Date of each of the rates described under (c) through (h) above, and the weighted average remaining term to maturity by unpaid principal balance as of the Cut-off Date.
 
Mortgage Note: The originally executed note or other evidence of the indebtedness of a Mortgagor under the related Mortgage Loan.
 
Mortgaged Property: Land and improvements securing the indebtedness of a Mortgagor under the related Mortgage Loan or, in the case of REO Property, such REO Property.
 
Mortgagor: The obligor on a Mortgage Note.
 
Net Interest Shortfall: With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.
 
Net Liquidation Proceeds: As to any Liquidated Mortgage Loan, Liquidation Proceeds net of (i) Liquidation Expenses which are payable therefrom to the Servicer or the Master Servicer in accordance with the Servicing Agreement or this Agreement and (ii) unreimbursed advances by the Servicer or the Master Servicer and Monthly Advances.
 
Net Rate: With respect to each Mortgage Loan, the Mortgage Interest Rate in effect from time to time less the sum of (i) the Servicing Fee Rate, (ii) the Trustee Fee Rate and (iii) the rate at which the Lender-Paid PMI Rate is calculated.
 
Non-Offered Subordinate Certificates: The Class B-5, Class B-6 and Class B-7 Certificates.
 
Nonrecoverable Advance: Any advance or Monthly Advance (i) which was previously made or is proposed to be made by the Master Servicer, the Trustee (as successor Master Servicer) or the applicable Servicer and (ii) which, in the good faith judgment of the Master Servicer, the Trustee in its capacity as successor master servicer or the applicable Servicer, will not or, in the case of a proposed advance or Monthly Advance, would not, be ultimately recoverable by the Master Servicer, the Trustee (as successor Master Servicer) or the applicable Servicer from Liquidation Proceeds, Insurance Proceeds or future payments on the Mortgage Loan for which such advance or Monthly Advance was made or is proposed to be made.
 
Notional Amount: With respect to the Class I-X-1 Certificates, the Notional Amount of the Class I-X-1 Certificates, as of any date of determination, is equal to the aggregate Current Principal Amount of the Class I-A-1 Certificates and Class II-A-2 Certificates. With respect to the Class II-X-1 Certificates, the Notional Amount of the Class II-X-1 Certificates, as of any date of determination, is equal to the aggregate Current Principal Amount of the Class II-A-1 Certificates and Class II-A-2 Certificates. With respect to the Class III-X-1 Certificates, the Notional Amount of the Class III-X-1 Certificates, as of any date of determination, is equal to the aggregate Current Principal Amount of the Class III-A-1 Certificates and Class III-A-2 Certificates. Reference to the Notional Amount of the Class I-X-1, Class II-X-1 and Class III-X-1 Certificates is solely for convenience in calculation and does not represent the right to receive any distributions allocable to principal. For federal income tax purposes, however, the Notional Amount of the Class I-X-1 Certificates equals the aggregate Uncertificated Principal Balance of REMIC II Regular Interest I-A-1 and REMIC II Regular Interest I-A-2, the Notional Amount of the Class II-X-1 Certificates equals the aggregate Uncertificated Principal Balance of REMIC II Regular Interest II-A-1 and REMIC II Regular Interest II-A-2 and the Notional Amount of the Class III-X-1 Certificates equals the aggregate Uncertificated Principal Balance of REMIC II Regular Interest III-A-1 and REMIC II Regular Interest III-A-2.
 
Offered Certificates: The Class I-A-1, Class I-A-2, Class I-X-1, Class II-A-1, Class II-A-2, Class II-X-1, Class III-A-1, Class III-A-2, Class III-X-1, Class R-I, Class R-II, Class R-III, Class B-l, Class B-2, Class B-3 and Class B-4 Certificates.
 
Offered Subordinate Certificates: The Class B-l, Class B-2, Class B-3 and Class B-4 Certificates.
 
Officer’s Certificate: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a Vice President or Assistant Vice President or other authorized officer of the Master Servicer, the Servicer, the Depositor or the Seller, as applicable, and delivered to the Trustee, as required by this Agreement.
 
Opinion of Counsel: A written opinion of counsel who is or are acceptable to the Trustee and who, unless required to be Independent (an “Opinion of Independent Counsel”), may be internal counsel for the Master Servicer, the Trustee or the Depositor.
 
Original Subordinate Principal Balance: The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.
 
Original Value: The lesser of (i) the Appraised Value or (ii) the sales price of a Mortgaged Property at the time of origination of a Mortgage Loan, except in instances where either clauses (i) or (ii) is unavailable, the other may be used to determine the Original Value, or if both clauses (i) and (ii) are unavailable, Original Value may be determined from other sources reasonably acceptable to the Depositor.
 
Outstanding Mortgage Loan: With respect to any Due Date, a Mortgage Loan which, prior to such Due Date, was not the subject of a Principal Prepayment in full, did not become a Liquidated Mortgage Loan and was not purchased or replaced.
 
Outstanding Principal Balance: As of the time of any determination, the principal balance of a Mortgage Loan remaining to be paid by the Mortgagor, or, in the case of an REO Property, the principal balance of the related Mortgage Loan remaining to be paid by the Mortgagor at the time such property was acquired by the Trust Fund less any Net Liquidation Proceeds with respect thereto to the extent applied to principal.
 
Pass-Through Rate: As to each Class of Certificates (other than the Class R Certificates), the REMIC I Regular Interests and the REMIC II Regular Interests, the rate of interest determined as provided with respect thereto in Section 5.01(c). Any monthly calculation of interest at a stated rate shall be based upon annual interest at such rate divided by twelve.
 
Periodic Rate Cap: With respect to each Mortgage Loan, the maximum adjustment that can be made to the Mortgage Interest Rate on each Interest Adjustment Date in accordance with its terms, regardless of changes in the applicable Index.
 
Permitted Investments: Any one or more of the following obligations or securities held in the name of the Trustee for the benefit of the Certificateholders:
 
(i) direct obligations of, and obligations the timely payment of which are fully guaranteed by the United States of America or any agency or instrumentality of the United States of America the obligations of which are backed by the full faith and credit of the United States of America;
 
(ii) (a) demand or time deposits, federal funds or bankers’ acceptances issued by any depository institution or trust company incorporated under the laws of the United States of America or any state thereof (including the Trustee or its Affiliates acting in its commercial banking capacity) and subject to supervision and examination by federal and/or state banking authorities, provided that the commercial paper and/or the short-term debt rating and/or the long-term unsecured debt obligations of such depository institution or trust company at the time of such investment or contractual commitment providing for such investment have the Applicable Credit Rating or better from each Rating Agency and (b) any other demand or time deposit or certificate of deposit that is fully insured by the Federal Deposit Insurance Corporation;
 
(iii) repurchase obligations with respect to (a) any security described in clause (i) above or (b) any other security issued or guaranteed by an agency or instrumentality of the United States of America, the obligations of which are backed by the full faith and credit of the United States of America, in either case entered into with a depository institution or trust company (acting as principal) described in clause (ii)(a) above where the Trustee holds the security therefor;
 
(iv) securities bearing interest or sold at a discount issued by any corporation (including the Trustee or any affiliate thereof) incorporated under the laws of the United States of America or any state thereof that have the Applicable Credit Rating or better from each Rating Agency at the time of such investment or contractual commitment providing for such investment; provided, however, that securities issued by any particular corporation will not be Permitted Investments to the extent that investments therein will cause the then outstanding principal amount of securities issued by such corporation and held as part of the Trust to exceed 10% of the aggregate Outstanding Principal Balances of all the Mortgage Loans and Permitted Investments held as part of the Trust;
 
(v) commercial paper (including both non-interest-bearing discount obligations and interest-bearing obligations payable on demand or on a specified date not more than one year after the date of issuance thereof) having the Applicable Credit Rating or better from each Rating Agency at the time of such investment;
 
(vi) a Reinvestment Agreement issued by any bank, insurance company or other corporation or entity;
 
(vii) any other demand, money market or time deposit, obligation, security or investment as may be acceptable to each Rating Agency as evidenced in writing by each Rating Agency to the Trustee, the Master Servicer or its affiliates; and
 
(viii) interests in any money market fund (including any such fund managed or advised by the Trustee or any affiliate thereof) which at the date of acquisition of the interests in such fund and throughout the time such interests are held in such fund has the highest applicable long term rating by each Rating Agency rating such fund, if so rated, or such lower rating as will not result in the downgrading or withdrawal of the ratings then assigned to the Certificates by each Rating Agency rating such fund; provided, however, that no instrument or security shall be a Permitted Investment if such instrument or security evidences a right to receive only interest payments with respect to the obligations underlying such instrument or if such security provides for payment of both principal and interest with a yield to maturity in excess of 120% of the yield to maturity at par or if such instrument or security is purchased at a price greater than par.
 
Permitted Transferee: Any Person other than a Disqualified Organization or an “electing large partnership” (as defined by Section 775 of the Code).
 
Person: Any individual, corporation, partnership, joint venture, association, limited liability company, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
 
Physical Certificates: The Residual Certificates and the Private Certificates.
 
Prepayment Charge: With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a full or partial prepayment of such Mortgage Loan in accordance with the terms thereof.
 
Prepayment Period: As to any Distribution Date, the period set forth in the Servicing Agreement.
 
Primary Mortgage Insurance Policy: Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.
 
Principal Prepayment: Any payment (whether partial or full) or other recovery of principal on a Mortgage Loan which is received in advance of its scheduled Due Date to the extent that it is not accompanied by an amount as to interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment, including Insurance Proceeds and Repurchase Proceeds, but excluding the principal portion of Net Liquidation Proceeds.
 
Private Certificates: The Class B-5, Class B-6 and Class B-7 Certificates.
 
Protected Account: An account established and maintained for the benefit of Certificateholders by the Servicer with respect to the related Mortgage Loans and with respect to REO Property pursuant to the Servicing Agreement.
 
Purchase Price: With respect to any Mortgage Loan (or any property acquired with respect thereto) (x) required to be repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement or Article II of this Agreement or (y) that the Seller has a right to purchase pursuant to Section 3.20, an amount equal to the sum of (i) 100% of the Outstanding Principal Balance of such Mortgage Loan as of the date of repurchase (including if a foreclosure has already occurred, the principal balance of the related Mortgage Loan at the time the Mortgaged Property was acquired), net of any Servicing Advances and Advances attributable to principal and payable to the purchaser of the Mortgage Loan if such purchaser is also the Servicer or the Master Servicer of such Mortgage Loan, (ii) accrued and unpaid interest on the Outstanding Principal Balance at the related Mortgage Interest Rate through and including the last day of the month of purchase, net of any portion of the Servicing Fee and any Servicing Advances and Advances attributable to interest that is payable to the purchaser of the Mortgage Loan if such purchaser is also the Servicer or the Master Servicer of such Mortgage Loan, plus and (iii) any costs and damages (if any) incurred by the Trust in connection with any violation of such Mortgage Loan of any anti-predatory lending laws.
 
QIB: A Qualified Institutional Buyer as defined in Rule 144A promulgated under the Securities Act.
 
Qualified Insurer: Any insurance company duly qualified as such under the laws of the state or states in which the related Mortgaged Property or Mortgaged Properties is or are located, duly authorized and licensed in such state or states to transact the type of insurance business in which it is engaged and approved as an insurer by the Master Servicer, so long as the claims paying ability of which is acceptable to the Rating Agencies for pass-through certificates having the same rating as the Certificates rated by the Rating Agencies as of the Closing Date.
 
Rating Agencies: Fitch, S&P and Moody’s.
 
Realized Loss: Any (i) Bankruptcy Loss or (ii) as to any Liquidated Mortgage Loan, (x) the Outstanding Principal Balance of such Liquidated Mortgage Loan plus accrued and unpaid interest thereon at the Mortgage Interest Rate through the last day of the month of such liquidation, less (y) the related Net Liquidation Proceeds with respect to such Mortgage Loan and the related Mortgaged Property. In addition, to the extent the Trustee 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 Current Principal Amount of any Class of Certificates on any Distribution Date. With respect to each Mortgage Loan which is the subject of a Servicing Modification during the calendar month immediately preceding the related Distribution Date, without duplication, the sum of (a) the total amount of interest and principal which is forgiven with respect to the related Mortgage Loan and (b) the amount of any Servicing Advances, to the extent forgiven, made by the Servicer with respect to such Mortgage Loan which are reimbursable from the Trust to the Servicer with respect to that Servicing Modification; provided that, the amounts expressed in clause (a) above shall not include the amounts expressed in clause (b) above. 
 
Record Date: With respect to any Distribution Date, the close of business on the last Business Day of the month immediately preceding the month of such Distribution Date.
 
Regular Certificates: Any of the Certificates other than the Residual Certificates.
 
Regulation AB: Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§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 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.
 
Reinvestment Agreements: One or more reinvestment agreements, acceptable to the Rating Agencies, from a bank, insurance company or other corporation or entity (including the Trustee).
 
Relief Act: The Servicemembers Civil Relief Act, or similar state or local law.
 
Relief Act Mortgage Loan: Any Mortgage Loan as to which the Scheduled Payment thereof has been reduced due to the application of the Relief Act.
 
REMIC: A real estate mortgage investment conduit, as defined in the Code.
 
REMIC I: That group of assets contained in the Trust Fund designated as a REMIC consisting of (i) the Mortgage Loans, (ii) the Distribution Account, (iii) any REO Property relating to the Mortgage Loans, (iv) the rights with respect to any related Servicing Agreement, (v) the rights with respect to any related Assignment Agreement and (vii) any proceeds of the foregoing.
 
REMIC I Interests: The REMIC I Regular Interests and the Class R-I Certificates.
 
REMIC I Regular Interests: REMIC I Regular Interests I-Sub, I-Grp, II-Sub, II-Grp, III-Sub, III-Grp, R-II/R-III and ZZZ.
 
REMIC I Subordinated Balance Ratio: The ratio among the Uncertificated Principal Balances of each of the REMIC I Regular Interests ending with the designation “Sub,” equal to the ratio among, with respect to each such REMIC I Regular Interest, the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the aggregate Current Principal Amount of the Senior Certificates in the related Certificate Group.
 
REMIC II: That group of assets contained in the Trust Fund designated as a REMIC consisting of the REMIC I Regular Interests.
 
REMIC II Interests: The REMIC II Regular Interests and the Class R-II Certificates.
 
REMIC II Regular Interests: REMIC II Regular Interests I-A-1, I-A-2, II-A-1, II-A-2, III-A-1, III-A-2, R-III, B-l, B-2, B-3, B-4, B-5, B-6 and B-7.
 
REMIC III: That group of assets contained in the Trust Fund designated as a REMIC consisting of the REMIC II Regular Interests.
 
REMIC Opinion: An Opinion of Independent Counsel, to the effect that the proposed action described therein would not, under the REMIC Provisions, (i) cause any REMIC to fail to qualify as a REMIC while any regular interest in such REMIC is outstanding, (ii) result in a tax on prohibited transactions with respect to any REMIC or (iii) constitute a taxable contribution to any REMIC after the Startup Day.
 
REMIC Provisions: The provisions of the federal income tax law relating to the REMIC, which appear at Sections 860A through 860G of the Code, and related provisions and regulations promulgated thereunder, as the foregoing may be in effect from time to time.
 
REO Property: A Mortgaged Property acquired in the name of the Trustee, for the benefit of Certificateholders, by foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.
 
Reportable Event: As defined in Section 3.18.
 
Repurchase Proceeds: the Purchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.
 
Request for Release: A request for release in the form attached hereto as Exhibit D.
 
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 with respect to such Mortgage Loan.
 
Residual Certificates: Any of the Class R Certificates.
 
Responsible Officer: Any officer assigned to the Corporate Trust Office (or any successor thereto), including any Vice President, Assistant Vice President, Trust Officer, any Assistant Secretary, any trust officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and having direct responsibility for the administration of this Agreement, and any other officer of the Trustee to whom a matter arising hereunder may be referred because of such officer’s knowledge or the familiarity with the particular subject.
 
Rule 144A Certificate: The certificate to be furnished by each purchaser of a Private Certificate (which is also a Physical Certificate) which is a Qualified Institutional Buyer as defined under Rule 144A promulgated under the Securities Act, substantially in the form set forth as Exhibit F-2 hereto.
 
S&P: Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., and its successors in interest.
 
Scheduled Payment: With respect to any Mortgage Loan and any month, the scheduled payment or payments of principal and interest due during such month on such Mortgage Loan which either is payable by a Mortgagor in such month under the related Mortgage Note or, in the case of REO Property, would otherwise have been payable under the related Mortgage Note.
 
Scheduled Principal: The principal portion of any Scheduled Payment.
 
Scheduled Principal Balance: With respect to any Mortgage Loan on any Distribution Date, (i) the unpaid principal balance of such Mortgage Loan as of the close of business on the related Due Date (i.e., taking account of the principal payment to be made on such Due Date and irrespective of any delinquency in its payment), as specified in the amortization schedule at the time relating thereto (before any adjustment to such amortization schedule by reason of any bankruptcy or similar proceeding occurring after the Cut-off Date (other than a Deficient Valuation) or any moratorium or similar waiver or grace period) and less (ii) any Principal Prepayments (including the principal portion of Net Liquidation Proceeds) received during or prior to the related Prepayment Period; provided that the Scheduled Principal Balance of a Liquidated Mortgage Loan is zero.
 
Securities Act: The Securities Act of 1933, as amended.
 
Securities Legend: “THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED [in the case of a Residual Certificate:] UNLESS THE PROPOSED TRANSFEREE PROVIDES THE TRUSTEE WITH AN OPINION OF COUNSEL ADDRESSED TO THE DEPOSITOR, TRUSTEE AND MASTER SERVICER AND ON WHICH THEY MAY RELY THAT IS SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE OF CERTIFICATES ON BEHALF OF SUCH PERSON WILL NOT RESULT IN OR CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION, IS PERMISSIBLE UNDER APPLICABLE LAW AND WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE [in the case of the Class B-5, Class B-6 and Class B-7 Certificates:], UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER, THE SERVICER OR THE TRUSTEE, WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS AN OPINION OF COUNSEL SPECIFIED IN SECTION 5.07 OF THE AGREEMENT IS PROVIDED.”
 
Security Agreement: With respect to a Cooperative Loan, the agreement creating a security interest in favor of the originator in the related Cooperative Stock.
 
Security Instrument: A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.
 
Seller: EMC in its capacity as seller of the Mortgage Loan to the Depositor.
 
Senior Certificates: The Class I-A-1, Class I-A-2, Class I-X-1, Class II-A-1, Class II-A-2, Class II-X-1, Class III-A-1, Class III-A-2 and Class III-X-1 Certificates.
 
Senior Optimal Principal Amount: The Group I Senior Optimal Principal Amount, Group II Senior Optimal Principal Amount or Group III Senior Optimal Principal Amount, as applicable.
 
Senior Percentage: The Group I Senior Percentage, Group II Senior Percentage or Group III Senior Percentage, as applicable.
 
Senior Prepayment Percentage: The Group I Senior Prepayment Percentage, Group II Senior Prepayment Percentage or Group III Senior Prepayment Percentage, as applicable.
 
Servicer: Countrywide and its successors and assigns.
 
Servicer Remittance Date: With respect to each Mortgage Loan, the date set forth in the Servicing Agreement.
 
Servicing Agreement: The Countrywide Servicing Agreement.
 
Servicing Criteria: The “servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be amended from time to time, or those Servicing Criteria otherwise mutually agreed to by EMC, the Master Servicer, the Trustee and the applicable Servicer in response to evolving interpretations of Regulation AB and incorporated into a revised Exhibit M.
 
Servicing Fee: As to any Mortgage Loan and Distribution Date, an amount equal to the product of (i) the Scheduled Principal Balance of such Mortgage Loan as of the Due Date in the preceding calendar month and (ii) the Servicing Fee Rate.
 
Servicing Fee Rate: The servicing fee rate will initially be 0.175% per annum and will increase by 0.025% per annum after an initial fixed-rate period of five, seven or ten years, as applicable.
 
Servicing Modification: Any modification of a Mortgage Loan which is effected by the Servicer in accordance with the terms of this Agreement or the Servicing Agreement.
 
Servicing Officer: Any officer of the Servicer or Master Servicer involved in or responsible for the administration and servicing or master servicing, as applicable, of the Mortgage Loans.
 
Startup Day: April 30, 2007.
 
Subordinate Certificates: The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates.
 
Subordinate Certificate Writedown Amount: As to any Distribution Date, the amount by which (a) the sum of the Current Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the allocation of applicable Realized Losses in reduction of the Current Principal Amounts of the Certificates on such Distribution Date) exceeds (b) the aggregate Scheduled Principal Balances of the Mortgage Loans on the Due Date related to such Distribution Date.
 
Subordinate Optimal Principal Amount: As to any Distribution Date, an amount equal to the sum, without duplication, of the following for the Group I, Group II and Group III Mortgage Loans (but in no event greater than the aggregate Current Principal Amount of the Subordinate Certificates immediately prior to such Distribution Date):
 
(i) the applicable Subordinate Percentage of the principal portion of all Scheduled Payments due on each Outstanding Mortgage Loan in the related Loan Group on the related Due Date as specified in the amortization schedule at the time applicable thereto (after adjustment for previous Principal Prepayments but before any adjustment to such amortization schedule by reason of any bankruptcy or similar proceeding or any moratorium or similar waiver or grace period);
 
(ii) the applicable Subordinate Prepayment Percentage of the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group that was the subject of a Principal Prepayment in full received by the Servicer during the related Prepayment Period;
 
(iii) the applicable Subordinate Prepayment Percentage of each Principal Prepayment in part received during the related Prepayment Period with respect to each Mortgage Loan in the related Loan Group;
 
(iv) the excess, if any, of (a) all Net Liquidation Proceeds allocable to principal received during the related Prepayment Period in respect of each Liquidated Mortgage Loan in the related Loan Group and all Subsequent Recoveries received in respect of each Liquidated Mortgage Loan in the related Loan Group during the related Due Period over (b) the sum of the amounts distributable to the related Senior Certificateholders pursuant to clause (iv) of the related definition of Senior Optimal Principal Amount on such Distribution Date;
 
(v) the applicable Subordinate Prepayment Percentage of the sum of (a) the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group which was purchased with respect to such Distribution Date and (b) the difference, if any, between the Scheduled Principal Balance of each Mortgage Loan in the related Loan Group that has been replaced by the Seller with a Substitute Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement in connection with such Distribution Date over the Scheduled Principal Balance of each such Substitute Mortgage Loan; and
 
(vi) on the Distribution Date on which the Current Principal Amounts of the Group I Senior Certificates, Group II Senior Certificates or Group III Senior Certificates have all been reduced to zero, 100% of the related Senior Optimal Principal Amount. After the aggregate Current Principal Amount of the Subordinate Certificates has been reduced to zero, the Subordinate Optimal Principal Amount shall be zero.
 
Subordinate Percentage: The Group I Subordinate Percentage, Group II Subordinate Percentage or Group III Subordinate Percentage with respect to the Group I Mortgage Loans, Group II Mortgage Loans and Group III Mortgage Loans, respectively.
 
Subordinate Prepayment Percentage: The Group I Subordinate Prepayment Percentage, Group II Subordinate Prepayment Percentage and Group III Subordinate Prepayment Percentage, with respect to the Group I Mortgage Loans, Group II Mortgage Loans and Group III Mortgage Loans, respectively.
 
Subsequent Recoveries: As of any Distribution Date, amounts received by the Master Servicer during the related Due Period 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 Seller pursuant to the Mortgage Loan Purchase Agreement) specifically related to a Liquidated Mortgage Loan or disposition of an REO Property prior to the related Prepayment Period that resulted in a Realized Loss, after the liquidation or disposition of such Mortgage Loan.
 
Substitute Mortgage Loan: A mortgage loan tendered to the Trustee pursuant to the Servicing Agreement, the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, in each case, (i) which has an Outstanding Principal Balance not greater nor materially less than the Mortgage Loan for which it is to be substituted; (ii) which has a Mortgage Interest Rate and Net Rate not less than, and not materially greater than, such Mortgage Loan; (iii) which has a maturity date not materially earlier or later than such Mortgage Loan and not later than the latest maturity date of any Mortgage Loan; (iv) which is of the same property type and occupancy type as such Mortgage Loan; (v) which has a Loan-to-Value Ratio not greater than the Loan-to-Value Ratio of such Mortgage Loan; (vi) which is current in payment of principal and interest as of the date of substitution; (vii) as to which the payment terms do not vary in any material respect from the payment terms of the Mortgage Loan for which it is to be substituted and (viii) which has a Gross Margin, Periodic Rate Cap and Maximum Lifetime Mortgage Rate no less than those of such Mortgage Loan, has the same Index and interval between Interest Adjustment Dates as such Mortgage Loan, and a Minimum Lifetime Mortgage Rate no lower than that of such Mortgage Loan.
 
Tax Administration and Tax Matters Person: The Trustee or any successor thereto or assignee thereof shall serve as tax administrator hereunder and as agent for the Tax Matters Person. The Holder of each Class of Residual Certificates shall be the Tax Matters Person for the related REMIC, as more particularly set forth in Section 9.12 hereof.
 
Trustee Fee: As to each Mortgage Loan and any Distribution Date an amount equal to 1/12th of the Trustee Fee Rate multiplied by the Stated Principal Balance of such Mortgage Loan as of the Due Date in the month preceding the month in which such Distribution Date occurs.
 
Trustee Fee Rate: 0.0085%
 
Trustee: Wells Fargo Bank, N.A., or its successor in interest, or any successor trustee appointed as herein provided.
 
Trust Fund or Trust: The corpus of the trust created by this Agreement, consisting of the Mortgage Loans and the other assets described in Section 2.01(a).
 
Trustee Information: As defined in Section 3.18(b).
 
Uncertificated Principal Balance: With respect to any REMIC I Regular Interest or REMIC II Regular Interest as of any Distribution Date, the initial principal amount of such regular interest as set forth in Sections 5.01(c)(i) and (c)(ii), reduced by (i) all amounts distributed on previous Distribution Dates on such regular interest with respect to principal, and (ii) the principal portion of all Realized Losses allocated prior to such Distribution Date to such regular interest, taking account of the Loss Allocation Limitation.
 
Underlying Seller: Countrywide.
 
Uninsured Cause: Any cause of damage to a Mortgaged Property or related REO Property such that the complete restoration of such Mortgaged Property or related REO Property is not fully reimbursable by the hazard insurance policies required to be maintained pursuant the Servicing Agreement, without regard to whether or not such policy is maintained.
 
United States Person: A citizen or resident of the United States, a corporation or partnership (including an entity treated as a corporation or partnership for federal income tax purposes) created or organized in, or under the laws of, the United States or any state thereof or the District of Columbia (except, in the case of a partnership, to the extent provided in regulations), provided that, for purposes solely of the Class R Certificates, no partnership or other entity treated as a partnership for United States federal income tax purposes shall be treated as a United States Person unless all persons that own an interest in such partnership either directly or through any entity that is not a corporation for United States federal income tax purposes are United States Persons, or an estate whose income is subject to United States federal income tax regardless of its source, or 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 such United States Persons have the authority to control all substantial decisions of the trust. To the extent prescribed in regulations by the Secretary of the Treasury, which have not yet been issued, a trust which was in existence on August 20, 1996 (other than a trust treated as owned by the grantor under subpart E of part I of subchapter J of chapter 1 of the Code), and which was treated as a United States Person on August 20, 1996, may elect to continue to be treated as a United States Person notwithstanding the previous sentence.
 
Wells Fargo: Wells Fargo Bank, N.A.
 



ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
 
Section 2.01  Conveyance of Mortgage Loans to Trustee.
 
(a)  The Depositor concurrently with the execution and delivery of this Agreement, sells, transfers and assigns to the Trust without recourse all its right, title and interest in and to (i) the Mortgage Loans identified in the Mortgage Loan Schedule, including all interest and principal due with respect to the Mortgage Loans after the Cut-off Date but excluding any payments of principal and interest due on or prior to the Cut-off Date; (ii) such assets as shall from time to time be credited or are required by the terms of this Agreement to be credited to the Distribution Account maintained by the Trustee, (iii) such assets as shall from time to time be credited or are required by the terms of this Agreement to be credited to the Master Servicer Collection Account maintained by the Master Servicer, (iv) such assets relating to the Mortgage Loans as from time to time may be held by the Servicer in Protected Accounts and the Trustee in the Distribution Account, (v) any REO Property, (vi) the Required Insurance Policies and any amounts paid or payable by the insurer under any Insurance Policy (to the extent the mortgagee has a claim thereto), (vii) the Mortgage Loan Purchase Agreement to the extent provided in Subsection 2.03(a), (viii) the rights with respect to the Servicing Agreement as assigned to the Trustee on behalf of the Certificateholders by the Assignment Agreements and (ix) any proceeds of the foregoing. Although it is the intent of the parties to this Agreement that the conveyance of the Depositor’s right, title and interest in and to the Mortgage Loans and other assets in the Trust Fund pursuant to this Agreement shall constitute a purchase and sale and not a loan, in the event that such conveyance is deemed to be a loan, it is the intent of the parties to this Agreement that the Depositor shall be deemed to have granted to the Trustee a first priority perfected security interest in all of the Depositor’s right, title and interest in, to and under the Mortgage Loans and other assets in the Trust Fund, and that this Agreement shall constitute a security agreement under applicable law. The Depositor, the Seller, the Master Servicer and the Trustee agree that it is not intended that any mortgage loan be conveyed to the Trust 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 by the Indiana High Cost Home Loan Law effective January 1, 2005.
 
(b)  In connection with the above transfer and assignment, the Depositor hereby delivers to the Custodian, on behalf of the Trustee, with respect to each Mortgage Loan:
 
(i)  the original Mortgage Note, endorsed without recourse (A) to the order of the Trustee or in blank, or (B) in the case of a loan registered on the MERS system, in blank, and in each case showing an unbroken chain of endorsements from the originator, at the time it made the initial endorsement, to the last endorsee up to and including the point the Sponsor acquired such mortgage loan;
 
(ii)  the original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting the presence of the MIN and language indicating that such Mortgage Loan is a MOM Loan, which shall have been recorded (or, for Mortgage Loans other than the EMC Flow Loans, if the original is not available, a copy), with evidence of such recording indicated thereon (or if clause (w) in the proviso below applies, shall be in recordable form).
 
(iii)  unless the Mortgage Loan is registered on the MERS® System, a certified copy of the assignment (which may be in the form of a blanket assignment if permitted in the jurisdiction in which the Mortgaged Property is located) to “Wells Fargo, N.A., as Trustee”, with evidence of recording with respect to each Mortgage Loan in the name of the Trustee thereon (or if clause (w) in the proviso below applies or for Mortgage Loans with respect to which the related Mortgaged Property is located in a state other than Maryland or an Opinion of Counsel has been provided as set forth in this Section 2.01(b), shall be in recordable form);
 
(iv)  all intervening assignments of the Security Instrument, if applicable and only to the extent available to the Depositor with evidence of recording thereon;
 
(v)  the original or a copy of the policy or certificate of primary mortgage guaranty insurance, to the extent available, if any;
 
(vi)  the original policy of title insurance or mortgagee’s certificate of title insurance or commitment or binder for title insurance; and
 
(vii)  originals of all modification agreements, if applicable and available;
 
provided, however, that in lieu of the foregoing, the Depositor may deliver to the Custodian, on behalf of the Trustee, the following documents, under the circumstances set forth below: (w) in lieu of the original Security Instrument, assignments to the Trustee or intervening assignments thereof which have been delivered, are being delivered or will, upon receipt of recording information relating to the Security Instrument required to be included thereon, be delivered to recording offices for recording and have not been returned to the Depositor in time to permit their delivery as specified above, the Depositor may deliver, or cause to be delivered, a true copy thereof with a stamp on the face of such copy, substantially as follows: “Certified to be a true and correct copy of the original”; (x) in lieu of the Security Instrument, assignment to the Trustee or intervening assignments thereof, if the applicable jurisdiction retains the originals of such documents (as evidenced by a certification from the Depositor to such effect) the Depositor may deliver photocopies of such documents containing an original certification by the judicial or other governmental authority of the jurisdiction where such documents were recorded; (y) in lieu of the Mortgage Notes relating to the Mortgage Loans identified on Exhibit 5 to the Mortgage Loan Purchase Agreement, the Depositor may deliver lost note affidavits from the Seller; and (z) the Depositor shall not be required to deliver intervening assignments or Mortgage Note endorsements between the related Underlying Seller and the Seller, between the Seller and the Depositor, and between the Depositor and the Trustee; and provided, further, however, that in the case of Mortgage Loans which have been prepaid in full after the Cut-off Date and prior to the Closing Date, the Depositor, in lieu of delivering the above documents, may deliver to the Trustee or the Custodian, on its behalf, a certification to such effect and shall deposit all amounts paid in respect of such Mortgage Loans in the Master Servicer Collection Account on the Closing Date. The Depositor shall deliver such original documents (including any original documents as to which certified copies had previously been delivered) to the Trustee or the Custodian, on its behalf, promptly after they are received. The Depositor shall cause the Seller, at its expense, to cause each assignment of the Security Instrument to the Trustee to be recorded not later than 180 days after the Closing Date, unless (a) such recordation is not required by the Rating Agencies or an Opinion of Counsel addressed to the Trustee has been provided to the Trustee (with a copy to the Custodian) which states that recordation of such Security Instrument is not required to protect the interests of the Certificateholders in the related Mortgage Loans or (b) 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 successor and assigns; provided, however, notwithstanding the foregoing, each assignment shall be submitted for recording by the Seller in the manner described above, at no expense to the Trust or the Trustee or the Custodian, on its behalf, upon the earliest to occur of: (i) reasonable direction by the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 25% of the Trust, (ii) the occurrence of an Event of Default, (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to the Seller and (iv) the occurrence of a servicing transfer as described in Section 8.02 hereof.
 
Section 2.02  Acceptance of Mortgage Loans by Trustee.
 
(a)  The Trustee acknowledges the sale, transfer and assignment of the Trust Fund to it by the Depositor and receipt of, subject to further review and the exceptions which may be noted pursuant to the procedures described below, and declares that it holds, the documents (or certified copies thereof) delivered to the Custodian, on its behalf, pursuant to Section 2.01, and declares that it will continue to hold those documents and any amendments, replacements or supplements thereto and all other assets of the Trust Fund delivered to it (or the Custodian on its behalf) as Trustee in trust for the use and benefit of all present and future Holders of the Certificates. On the Closing Date, with respect to the Mortgage Loans, the Custodian shall acknowledge with respect to each Mortgage Loan by delivery to the Depositor, EMC, the Master Servicer and the Trustee of an Initial Certification substantially in the form of Exhibit One to the Custodial Agreement, receipt of the Mortgage File, but without review of such Mortgage File, except to the extent necessary to confirm that such Mortgage File contains the related Mortgage Note or lost note affidavit. No later than 90 days after the Closing Date (or with respect to any Substitute Mortgage Loan, within five Business Days after the receipt by the Trustee or Custodian thereof), the Trustee agrees, for the benefit of the Certificateholders, to review or cause to be reviewed by the Custodian on its behalf (under the Custodial Agreement), each Mortgage File delivered to it (or the Custodian on its behalf) and to execute and deliver, or cause to be executed and delivered, to the Depositor, EMC, the Master Servicer and the Trustee an Interim Certification substantially in the form of Exhibit Two to the Custodial Agreement. In conducting such review, the Trustee or Custodian on behalf of the Trustee will ascertain whether all required documents have been executed and received, and based on the related Mortgage Loan Schedule, whether those documents relate, determined on the basis of the Mortgagor name, original principal balance and loan number, to the Mortgage Loans it has received, as identified in the related Mortgage Loan Schedule. In performing any such review, the Trustee or the Custodian, on its behalf, may conclusively rely on the purported due execution and genuineness of any such document and on the purported genuineness of any signature thereon. If the Trustee or the Custodian, on its behalf, finds any document constituting part of the Mortgage File has not been executed or received, or to be unrelated, determined on the basis of the Mortgagor name, original principal balance and loan number, to the Mortgage Loans identified in Exhibit B, or to appear defective on its face (i.e. torn, mutilated, or otherwise physically altered) (a “Material Defect”), the Trustee or the Custodian, on its behalf, shall, upon completion of the review of all files, but in no event later than 90 days after the Closing Date, notify the Seller. In accordance with the Mortgage Loan Purchase Agreement, the Seller shall correct or cure any such defect within ninety (90) days from the date of notice from the Trustee or the Custodian, on its behalf, of the defect and if the Seller fails to correct or cure the defect within such period, and such defect materially and adversely affects the interests of the Certificateholders in the related Mortgage Loan, the Trustee shall enforce the Seller’s obligation under the Mortgage Loan Purchase Agreement, within 90 days from the Trustee’s or the Custodian’s notification, provide a Substitute Mortgage Loan (if within two years of the Closing Date) or purchase such Mortgage Loan at the Purchase Price; provided that, if such 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; provided, however, that if such defect relates solely to the inability of the Seller to deliver the original Security Instrument or intervening assignments thereof, or a certified copy because the originals of such documents, or a certified copy have not been returned by the applicable jurisdiction, the Seller shall not be required to purchase such Mortgage Loan if the Seller delivers such original documents or certified copy promptly upon receipt, but in no event later than 360 days after the Closing Date. The foregoing repurchase obligation shall not apply in the event that the Seller cannot deliver such original or copy of any document submitted for recording to the appropriate recording office in the applicable jurisdiction because such document has not been returned by such office; provided that the Seller shall instead deliver a recording receipt of such recording office or, if such receipt is not available, a certificate confirming that such documents have been accepted for recording, and delivery to the Trustee or the Custodian, on its behalf, shall be effected by the Seller within thirty days of its receipt of the original recorded document.
 
(b)  No later than 180 days after the Closing Date (or with respect to any Substitute Mortgage Loan, within five Business Days after the receipt by the Trustee or the Custodian thereof), the Trustee or the Custodian, on its behalf, will review, for the benefit of the Certificateholders, the Mortgage Files delivered to it and will execute and deliver or cause to be executed and delivered to the Depositor, EMC, the Master Servicer and the Trustee a Final Certification substantially in the form of Exhibit Three to the Custodial Agreement. In conducting such review, the Trustee or the Custodian, on its behalf, will ascertain whether an original of each document required to be recorded has been returned from the recording office with evidence of recording thereon or a certified copy has been obtained from the recording office. If the Trustee or the Custodian, on its behalf, finds a Material Defect, the Trustee or the Custodian, on its behalf, shall, upon completion of the review of all files, but in no event later than 180 days after the Closing Date, notify the Seller (provided, however, that with respect to those documents described in subsections (b)(iv), (v) and (vii) of Section 2.01, the Trustee’s and Custodian’s obligations shall extend only to the documents actually delivered to the Custodian pursuant to such subsections). In accordance with the Mortgage Loan Purchase Agreement, the Seller shall correct or cure any such defect within 90 days from the date of notice from the Trustee or the Custodian, on its behalf, of the Material Defect and if the Seller is unable to cure such defect within such period, and if such defect materially and adversely affects the interests of the Certificateholders in the related Mortgage Loan, the Trustee shall enforce the Seller’s obligation under the Mortgage Loan Purchase Agreement, within 90 days from the Trustee’s or Custodian’s notification, provide a Substitute Mortgage Loan (if within two years of the Closing Date) or purchase such Mortgage Loan at the Purchase Price; provided that, if such 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, repurchase or substitution must occur within 90 days from the date such breach was discovered; provided, however, that if such defect relates solely to the inability of the Seller to deliver the original Security Instrument or intervening assignments thereof, or a certified copy, because the originals of such documents or a certified copy, have not been returned by the applicable jurisdiction, the Seller shall not be required to purchase such Mortgage Loan, if the Seller delivers such original documents or certified copy promptly upon receipt, but in no event later than 360 days after the Closing Date. The foregoing repurchase obligation shall not apply in the event that the Seller cannot deliver such original or copy of any document submitted for recording to the appropriate recording office in the applicable jurisdiction because such document has not been returned by such office; provided that the Seller shall instead deliver a recording receipt of such recording office or, if such receipt is not available, a certificate confirming that such documents have been accepted for recording, and delivery to the Trustee or the Custodian, on its behalf, shall be effected by the Seller within thirty days of its receipt of the original recorded document.
 
(c)  In the event that a Mortgage Loan is purchased by the Seller in accordance with Subsections 2.02(a) or (b) above, EMC shall remit to the Master Servicer the Purchase Price for deposit in the Master Servicer Collection Account and the Seller shall provide to the Trustee written notification detailing the components of the Purchase Price. Upon deposit of the Purchase Price in the Master Servicer Collection Account, the Depositor shall notify the Trustee and the Custodian, on behalf of the Trustee (upon receipt of a Request for Release in the form of Exhibit D attached hereto, with respect to such Mortgage Loan), shall release to the Seller the related Mortgage File and the Trustee shall execute and deliver all instruments of transfer or assignment, without recourse, representation or warranty, furnished to it by the Seller, as are necessary to vest in the Seller title to and rights under the Mortgage Loan. Such purchase shall be deemed to have occurred on the date on which the Purchase Price in available funds is received by the Trustee. The Trustee shall amend the Mortgage Loan Schedule, which was previously delivered to it by the Depositor in a form agreed to between the Depositor and the Trustee, to reflect such repurchase and shall promptly notify the Rating Agencies of such amendment and furnish a copy of the amended Mortgage Loan Schedule to the Master Servicer and the Custodian. To enable the Trustee to amend the Mortgage Loan Schedule, the Seller shall, unless it cures such breach in a timely fashion pursuant to this Section 2.02, promptly notify the Trustee whether it intends either to repurchase, or to substitute for, the Mortgage Loan affected by such breach. The obligation of the Seller to repurchase or substitute for any Mortgage Loan a Substitute Mortgage Loan as to which such a defect in a constituent document exists shall be the sole remedy respecting such defect available to the Certificateholders or to the Trustee on their behalf.
 
Section 2.03  Assignment of Interest in the Mortgage Loan Purchase Agreement.
 
(a)  The Depositor hereby assigns to the Trustee, on behalf of the Certificateholders, all of its right, title and interest in the Mortgage Loan Purchase Agreement, including but not limited to the Depositor’s rights and obligations pursuant to the Servicing Agreement (noting that the Seller has retained the right in the event of breach of the representations, warranties and covenants, if any, with respect to the related Mortgage Loans of the Servicer under the Servicing Agreement to enforce the provisions thereof and to seek all or any available remedies). The obligations of the Seller to substitute or repurchase, as applicable, a Mortgage Loan shall be the Trustee’s and the Certificateholders’ sole remedy for any breach thereof. At the request of the Trustee, the Depositor shall take such actions as may be necessary to enforce the above right, title and interest on behalf of the Trustee and the Certificateholders or shall execute such further documents as the Trustee may reasonably require in order to enable the Trustee to carry out such enforcement.
 
(b)  If the Depositor, the Master Servicer or the Trustee discovers a breach of any of the representations and warranties set forth in the Mortgage Loan Purchase Agreement, which breach materially and adversely affects the value of the interests of Certificateholders or the Trustee in the related Mortgage Loan, the party discovering the breach shall give prompt written notice of the breach to the other parties to this Agreement. The Seller, within 90 days of its discovery or receipt of notice that such breach has occurred (whichever occurs earlier), shall cure the breach in all material respects or, subject to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, shall purchase the Mortgage Loan or any property acquired with respect thereto from the Trustee; provided, however, that if there is a breach of any representation set forth in the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, and the Mortgage Loan or the related property acquired with respect thereto has been sold, then the Seller shall pay, in lieu of the Purchase Price, any excess of the Purchase Price over the Net Liquidation Proceeds received upon such sale. If the Net Liquidation Proceeds exceed the Purchase Price, any excess shall be paid to the Seller to the extent not required by law to be paid to the borrower. Any such purchase by the Seller shall be made by providing an amount equal to the Purchase Price to the Master Servicer for deposit in the Master Servicer Collection Account and written notification detailing the components of such Purchase Price to the Trustee. The Depositor shall notify the Trustee and submit to the Custodian, on behalf of the Trustee, a Request for Release, and the Custodian shall release, or the Trustee shall cause the Custodian to release, to the Seller the related Mortgage File and the Trustee shall execute and deliver all instruments of transfer or assignment furnished to it by the Seller, without recourse, representation or warranty as are necessary to vest in the Seller title to and rights under the Mortgage Loan or any property acquired with respect thereto. Such purchase shall be deemed to have occurred on the date on which the Purchase Price in available funds is received by the Trustee. The Trustee shall amend the Mortgage Loan Schedule to reflect such repurchase and shall promptly notify the Trustee of such amendment and furnish a copy of the amended Mortgage Loan Schedule to the Master Servicer and the Custodian. Enforcement of the obligation of the Seller to purchase (or substitute a Substitute Mortgage Loan for) any Mortgage Loan or any property acquired with respect thereto (or pay the Purchase Price as set forth in the above proviso) as to which a breach has occurred and is continuing shall constitute the sole remedy respecting such breach available to the Certificateholders or the Trustee on their behalf.
 
In connection with any repurchase of a Mortgage Loan pursuant to this Section 2.03, the Seller shall, or cause the Servicer to, furnish to the Trustee an Officer’s Certificate, signed by a duly authorized officer of the Seller or the Servicer, as the case may be, to the effect that such repurchase has been made in accordance with the terms and conditions of this Agreement and that all conditions precedent to such repurchase have been satisfied, including the delivery to the Master Servicer of the Purchase Price for deposit into the Master Servicer Collection Account, together with copies of any Opinion of Counsel required to be delivered pursuant to this Agreement and the related Request for Release. Solely for purposes of the Trustee providing an Assessment of Compliance, upon receipt of such documentation, the Trustee shall approve such repurchase and which approval shall consist solely of the Trustee’s receipt of such documentation and deposits. It is understood and agreed that the obligation under this Agreement of the Seller to repurchase any Mortgage Loan as to which a breach has occurred and is continuing shall constitute the sole remedies against the Seller respecting such breach available to Certificateholders, the Depositor or the Trustee.
 
Section 2.04  Substitution of Mortgage Loans.
 
Notwithstanding anything to the contrary in this Agreement, in lieu of purchasing a Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement or Sections 2.02 or 2.03 of this Agreement, the Seller may, no later than the date by which such purchase by the Seller would otherwise be required, tender to the Trustee a Substitute Mortgage Loan accompanied by a certificate of an authorized officer of the Seller that such Substitute Mortgage Loan conforms to the requirements set forth in the definition of “Substitute Mortgage Loan” in this Agreement; provided, however, that substitution pursuant to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, in lieu of purchase shall not be permitted after the termination of the two-year period beginning on the Startup Day; provided, further, that if a 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 substitution must occur within 90 days from the date the breach was discovered. The Custodian, on behalf of the Trustee, shall examine the Mortgage File for any Substitute Mortgage Loan in the manner set forth in Section 2.02(a) and the Trustee or the Custodian, on its behalf, shall notify the Seller, in writing, within five Business Days after receipt, whether or not the documents relating to the Substitute Mortgage Loan satisfy the requirements of the fifth sentence of Subsection 2.02(a). Within two Business Days after such notification, the Seller shall provide to the Trustee for deposit in the Distribution Account the amount, if any, by which the Outstanding Principal Balance as of the next preceding Due Date of the Mortgage Loan for which substitution is being made, after giving effect to the Scheduled Principal due on such date, exceeds the Outstanding Principal Balance as of such date of the Substitute Mortgage Loan, after giving effect to Scheduled Principal due on such date, which amount shall be treated for the purposes of this Agreement as if it were the payment by the Seller of the Purchase Price for the purchase of a Mortgage Loan by the Seller. After such notification to the Seller and, if any such excess exists, upon receipt of such deposit, the Trustee shall accept such Substitute Mortgage Loan which shall thereafter be deemed to be a Mortgage Loan hereunder. In the event of such a substitution, accrued interest on the Substitute Mortgage Loan for the month in which the substitution occurs and any Principal Prepayments made thereon during such month shall be the property of the Trust Fund and accrued interest for such month on the Mortgage Loan for which the substitution is made and any Principal Prepayments made thereon during such month shall be the property of the Seller. The Scheduled Principal on a Substitute Mortgage Loan due on the Due Date in the month of substitution shall be the property of the Seller and the Scheduled Principal on the Mortgage Loan for which the substitution is made due on such Due Date shall be the property of the Trust Fund. Upon acceptance of the Substitute Mortgage Loan (and delivery to the Custodian of a Request for Release for such Mortgage Loan), the Custodian, on behalf of the Trustee, shall release to the Seller the related Mortgage File related to any Mortgage Loan released pursuant to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, and shall execute and deliver all instruments of transfer or assignment, without recourse, representation or warranty in form as provided to it as are necessary to vest in the Seller title to and rights under any Mortgage Loan released pursuant to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable. The Seller shall deliver to the Custodian the documents related to the Substitute Mortgage Loan in accordance with the provisions of the Mortgage Loan Purchase Agreement or Subsections 2.01(b) and 2.02(b) of this Agreement, as applicable, with the date of acceptance of the Substitute Mortgage Loan deemed to be the Closing Date for purposes of the time periods set forth in those Subsections. The representations and warranties set forth in the Mortgage Loan Purchase Agreement shall be deemed to have been made by the Seller with respect to each Substitute Mortgage Loan as of the date of acceptance of such Mortgage Loan by the Trustee. The Trustee shall amend the Mortgage Loan Schedule to reflect such substitution and shall provide a copy of such amended Mortgage Loan Schedule to the Trustee, the Master Servicer, the Seller, the Custodian and the Rating Agencies.
 
In connection with any substitution of a Mortgage Loan pursuant to this Section 2.04, the Seller shall, or cause the Servicer to, furnish to the Trustee and the Master Servicer an Officer’s Certificate, signed by a duly authorized officer of the Seller or the Servicer, as the case may be, to the effect that such substitution has been made in accordance with the terms and conditions of this Agreement and that all conditions precedent to such substitution have been satisfied, together with copies of any Opinion of Counsel required to be delivered pursuant to this Agreement and the related Request for Release. Solely for purposes of the Trustee providing an Assessment of Compliance, upon receipt of such documentation, the Trustee shall approve such substitution and which approval shall be based solely on the Trustee’s receipt of such documentation and deposits. It is understood and agreed that the obligation under this Agreement of the Seller to substitute any Mortgage Loan as to which a breach has occurred and is continuing shall constitute the sole remedies against the Seller respecting such breach available to Certificateholders, the Depositor or the Trustee.

Section 2.05  Issuance of Certificates.
 
(a)  The Trustee acknowledges the assignment to it of the Mortgage Loans and the other assets comprising the Trust Fund and, concurrently therewith, the Trustee has signed, and countersigned and delivered to the Depositor, in exchange therefor, Certificates in such authorized denominations representing such Fractional Undivided Interests as the Depositor has requested. The Trustee (or the Custodian on its behalf) agrees that it will hold the Mortgage Loans and such other assets as may from time to time be delivered to it (or the Custodian on its behalf) segregated on the books of the Trustee in trust for the benefit of the Certificateholders.
 
(b)  The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the Mortgage Loans and the other assets of REMIC I for the benefit of the holders of the REMIC I Interests. The Trustee acknowledges receipt of such assets and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC I Interests.
 
(c)  The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the REMIC I Regular Interests and the other assets of REMIC II for the benefit of the holders of the REMIC II Interests. The Trustee acknowledges receipt of the REMIC I Regular Interests (which are uncertificated) and the other assets of REMIC II and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC II Interests.
 
(d)  The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the REMIC II Regular Interests and the other assets of REMIC III for the benefit of the Holders of the Certificates (other than the Class R-I Certificates and the Class R-II Certificates). The Trustee acknowledges receipt of the REMIC II Regular Interests (which are uncertificated) and the other assets of REMIC III and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the Certificates (other than the Class R-I Certificates and the Class R-II Certificates).
 
Section 2.06  Representations and Warranties Concerning the Depositor.
 
The Depositor hereby represents and warrants to the Trustee and the Master Servicer as follows:
 
(i)  the Depositor (a) is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and (b) is qualified and in good standing as a foreign corporation to do business in each jurisdiction where such qualification is necessary, except where the failure so to qualify would not reasonably be expected to have a material adverse effect on the Depositor’s business as presently conducted or on the Depositor’s ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(ii)  the Depositor has full corporate power to own its property, to carry on its business as presently conducted and to enter into and perform its obligations under this Agreement;
 
(iii)  the execution and delivery by the Depositor of this Agreement have been duly authorized by all necessary corporate action on the part of the Depositor; and neither the execution and delivery of this Agreement, nor the consummation of the transactions herein contemplated, nor compliance with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on the Depositor or its properties or the articles of incorporation or by-laws of the Depositor, except those conflicts, breaches or defaults which would not reasonably be expected to have a material adverse effect on the Depositor’s ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(iv)  the execution, delivery and performance by the Depositor of this Agreement and the consummation of the transactions contemplated hereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of any other action in respect of, any state, federal or other governmental authority or agency, except those consents, approvals, notices, registrations or other actions as have already been obtained, given or made;
 
(v)  this Agreement has been duly executed and delivered by the Depositor and, assuming due authorization, execution and delivery by the other parties hereto, constitutes a valid and binding obligation of the Depositor enforceable against it in accordance with its terms (subject to applicable bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally);
 
(vi)  there are no actions, suits or proceedings pending or, to the knowledge of the Depositor, threatened against the Depositor, before or by any court, administrative agency, arbitrator or governmental body (i) with respect to any of the transactions contemplated by this Agreement or (ii) with respect to any other matter which in the judgment of the Depositor will be determined adversely to the Depositor and will if determined adversely to the Depositor materially and adversely affect the Depositor’s ability to enter into this Agreement or perform its obligations under this Agreement; and the Depositor is not in default with respect to any order of any court, administrative agency, arbitrator or governmental body so as to materially and adversely affect the transactions contemplated by this Agreement;
 
(vii)  The Depositor has filed all reports required to be filed by Section 13 or Section 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Depositor was required to file such reports) and it has been subject to such filing requirements for the past 90 days; and
 
(viii)  immediately prior to the transfer and assignment to the Trustee, each Mortgage Note and each Mortgage were not subject to an assignment or pledge, and the Depositor had good and marketable title to and was the sole owner thereof and had full right to transfer and sell such Mortgage Loan to the Trustee free and clear of any encumbrance, equity, lien, pledge, charge, claim or security interest.
 
Section 2.07  Purposes and Powers of the Trust. 
 
The purpose of the common law trust, as created hereunder, is to engage in the following activities:
 
(a) acquire and hold the Mortgage Loans and the other assets of the Trust Fund and the proceeds therefrom;
 
(b) to issue the Certificates sold to the Depositor in exchange for the Mortgage Loans;
 
(c) to make payments on the Certificates;
 
(d) to engage in those activities that are necessary, suitable or convenient to accomplish the foregoing or are incidental thereto or connected therewith; and
 
(e) 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. 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.
 
Section 2.08  Delivery of Opinion of Counsel in Connection with Substitutions and Purchases. 
 
Notwithstanding any contrary provision of this Agreement, with respect to any Mortgage Loan that is not in default or as to which default is not reasonably foreseeable, no repurchase or substitution pursuant to Sections 2.02, 2.03 or 2.04 shall be made unless the Seller delivers to the Trustee an Opinion of Counsel, addressed to the Trustee, to the effect that such repurchase or substitution would not (i) result in the imposition of the tax on “prohibited transactions” of REMIC I, REMIC II or REMIC III, or contributions after the Startup Date, as defined in Sections 860F(a)(2) and 860G(d) of the Code, respectively, or (ii) cause any of REMIC I, REMIC II or REMIC III to fail to qualify as a REMIC at any time that any Certificates are outstanding. Any Mortgage Loan as to which repurchase or substitution was delayed pursuant to this paragraph shall be repurchased or the substitution therefor shall occur (subject to compliance with Sections 2.02, 2.03 or 2.04) upon the earlier of (a) the occurrence of a default or default becoming reasonably foreseeable with respect to such Mortgage Loan and (b) receipt by the Trustee of an Opinion of Counsel addressed to the Trustee to the effect that such repurchase or substitution, as applicable, will not result in the events described in clause (i) or clause (ii) of the preceding sentence.
 
 
ARTICLE III
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS; SEC REPORTING
 
Section 3.01  Master Servicer.
 
The Master Servicer shall, from and after the Closing Date, supervise, monitor and oversee the obligation of the Servicer to service and administer their respective Mortgage Loans in accordance with the terms of the Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall oversee and consult with the Servicer as necessary from time-to-time to carry out the Master Servicer’s obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by the Servicer and shall cause the Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by the Servicer under its applicable Servicing Agreement. The Master Servicer shall independently and separately monitor the Servicer’s servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the Servicer’s and Master Servicer’s records, and based on such reconciled and corrected information, the Master Servicer shall provide a report in the form of a computer readable magnetic tape (or by such other means as the Master Servicer and the Trustee may agree from time to time) containing such data and information, as agreed to by the Master Servicer and the Trustee such as to permit the Trustee to prepare the statements specified in Section 6.04 by 12:00 p.m. Central Standard Time on the 5th Business Day prior to each Distribution Date, and prepare any other information and statements required to be forwarded by the Master Servicer hereunder; provided, however, in no event shall the Master Servicer be required to provide such information to the Trustee earlier than 12:00 p.m. Central Standard Time on the 19th calendar day of the month. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicer to the Master Servicer pursuant to the Servicing Agreement. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by the Servicer and shall have no liability for any errors in such Mortgage Loan data.
 
In addition to the foregoing, in connection with a modification of any Mortgage Loan by the Servicer, if the Master Servicer is unable to enforce the obligations of the Servicer with respect to such modification, the Master Servicer shall notify the Depositor of the Servicer’s failure to comply with the terms of the Servicing Agreement. If the Servicing Agreement requires the approval of the Master Servicer for a modification to a Mortgage Loan, the Master Servicer shall approve such modification if, based upon its receipt of written notification from the Servicer outlining the terms of such modification and appropriate supporting documentation, the Master Servicer determines that the modification is permitted under the terms of the Servicing Agreement and that any conditions to such modification set forth in the Servicing Agreement have been satisfied. Furthermore, if the Servicing Agreement requires the oversight and monitoring of loss mitigation measures with respect to the related Mortgage Loans, the Master Servicer will monitor any loss mitigation procedure or recovery action related to a defaulted Mortgage Loan (to the extent it receives notice of such from the Servicer) and confirm that such loss mitigation procedure or recovery action is initiated, conducted and concluded in accordance with any timeframes and any other requirements set forth in the Servicing Agreement, and the Master Servicer shall notify the Depositor in any case in which the Master Servicer believes that the Servicer is not complying with such timeframes and/or other requirements.
 
The Trustee shall furnish the Servicer and the Master Servicer, upon written request from a servicing officer, with any powers of attorney and other documents in form as provided to it necessary or appropriate to enable the Servicer and the Master Servicer to service and administer the related Mortgage Loans and REO Property.
 
The Trustee or the Custodian on its behalf or the Servicer shall provide access to the records and documentation in the possession of the Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon reasonable prior written request and during normal business hours at the office of the Custodian or the Servicer; provided, however, that, unless otherwise required by law, the Trustee, the Custodian, or the Servicer, shall not be required to provide access to such records and documentation if the provision thereof would violate the legal right to privacy of any Mortgagor. The Trustee or the Custodian, on its behalf, or the Servicer, shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at a charge that covers the Trustee’s, Custodian’s or the Servicer’s actual costs.
 
The Trustee shall execute upon the Servicer’s written instruction (which includes the documents to be signed) and deliver to the Servicer and the Master Servicer, any court pleadings, requests for trustee’s sale or other appropriate documents necessary or desirable to (i) the foreclosure or trustee’s sale with respect to a Mortgaged Property; (ii) any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note or Security Instrument; (iii) obtain a deficiency judgment against the Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage Note or Security Instrument or otherwise available at law or equity.
 
Section 3.02  REMIC-Related Covenants.
 
For as long as each REMIC shall exist, the Trustee shall act in accordance herewith to assure continuing treatment of such REMIC as a REMIC, and the Trustee shall comply with any directions of the Depositor, the Servicer or the Master Servicer to assure such continuing treatment. In particular, the Trustee shall not (a) sell or permit the sale of all or any portion of the Mortgage Loans or of any investment of deposits in an Account (except as otherwise expressly permitted by this Agreement) unless such sale is as a result of a repurchase of the Mortgage Loans pursuant to this Agreement or the Trustee has received a REMIC Opinion addressed to the Trustee prepared at the expense of the Trust Fund; (b) other than with respect to a substitution pursuant to the Mortgage Loan Purchase Agreement or Section 2.04 of this Agreement, as applicable, accept any contribution to any REMIC after the Startup Day without receipt of a REMIC Opinion addressed to the Trustee; or (c) acquire any assets for any REMIC (except as otherwise expressly permitted by this Agreement) other than any REO Property after the Startup Day without receipt of a REMIC Opinion.
 
Section 3.03  Monitoring of Servicer.
 
(a)  The Master Servicer shall be responsible for reporting to the Trustee and the Depositor the non-compliance by the Servicer with its duties under the Servicing Agreement. In the review of the Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the Servicer (or similar document signed by an officer of the Servicer) with regard to the Servicer’s compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that the Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to the Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Depositor and the Trustee thereof and the Master Servicer shall issue such notice or take such other action as it deems appropriate.
 
The Master Servicer, for the benefit of the Trustee and the Certificateholders, shall enforce the obligations of the Servicer under the Servicing Agreement, and shall, in the event that the Servicer fails to perform its obligations in accordance with the Servicing Agreement, subject to the preceding paragraph, terminate the rights and obligations of the Servicer thereunder and act as successor servicer of the related Mortgage Loans or to cause the Trustee to enter into a new Servicing Agreement with a successor servicer selected by the Master Servicer; provided, however, it is understood and acknowledged by the parties hereto that there shall be a period of transition (not to exceed 90 days) before the actual servicing functions can be fully transferred to such successor Servicer. Such enforcement, including, without limitation, the legal prosecution of claims, termination of the Servicing Agreement 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, in its good faith business judgment, would require were it the owner of the related Mortgage Loans. The Master Servicer shall pay the costs of such enforcement at its own expense, subject to its right of reimbursement pursuant to the provisions of this Agreement or the Servicing Agreement, provided that the Master Servicer shall not be required to prosecute or defend any legal action except to the extent that the Master Servicer shall have received reasonable indemnity for its costs and expenses in pursuing such action. Nothing herein shall impose any obligation on the part of the Trustee to assume or succeed to the duties or obligations of the Master Servicer unless the Trustee has not been able to find a successor servicer or a successor master servicer.
 
(b)  To the extent that the costs and expenses of the Master Servicer or the Trustee, as applicable, related to any termination of the Servicer, or the enforcement or prosecution or related claims, rights or remedies or the appointment of a successor servicer or the transfer and assumption of servicing by the Master Servicer with respect to the Servicing Agreement (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with an evaluation of the potential termination of the Servicer as a result of an event of default by the Servicer and (ii) all costs and expenses associated with the complete transfer of servicing, including all servicing files and all servicing data and the completion, correction or manipulation of such servicing data as may be required by the successor servicer to correct any errors or insufficiencies in the servicing data or otherwise to enable the successor servicer to service the Mortgage Loans in accordance with the Servicing Agreement) are not fully and timely reimbursed by the terminated Servicer, the Master Servicer or the Trustee, as applicable, shall be entitled to reimbursement of such costs and expenses from the Distribution Account, pursuant to Section 4.05.
 
(c)  The Master Servicer shall require the Servicer to comply with the remittance requirements and other obligations set forth in the Servicing Agreement.
 
(d)  If the Master Servicer acts as Servicer, it will not assume liability for the representations and warranties of the Servicer, if any, that it replaces.
 
Section 3.04  Fidelity Bond.
 
The Master Servicer, at its expense, shall maintain in effect a blanket fidelity bond and an errors and omissions insurance policy, affording coverage with respect to all directors, officers, employees and other Persons acting on such Master Servicer’s behalf, and covering errors and omissions in the performance of the Master Servicer’s obligations hereunder. The errors and omissions insurance policy and the fidelity bond shall be in such form and amount generally acceptable for entities serving as master servicers or trustees.
 
Section 3.05  Power to Act; Procedures.
 
The Master Servicer shall master service the Mortgage Loans and shall have full power and authority, subject to the REMIC Provisions and the provisions of Article X hereof, to do any and all things that it may deem necessary or desirable in connection with the master servicing and administration of the Mortgage Loans, including but not limited to the power and authority (i) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages, (iii) to collect any Insurance Proceeds and Liquidation Proceeds, and (iv) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan, in each case, in accordance with the provisions of this Agreement and the Servicing Agreement, as applicable; provided, however, that the Master Servicer shall not (and, consistent with its responsibilities under Section 3.03, shall not permit the Servicer to) knowingly or intentionally take any action, or fail to take (or fail to cause to be taken) any action reasonably within its control and the scope of duties more specifically set forth herein, that, under the REMIC Provisions, if taken or not taken, as the case may be, may cause any REMIC to fail to qualify as a REMIC or 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 set forth in Section 860G(d) of the Code) unless the Master Servicer has received an Opinion of Counsel (but not at the expense of the Master Servicer) to the effect that the contemplated action would not cause any REMIC to fail to qualify as a REMIC or result in the imposition of a tax upon any REMIC. The Trustee shall furnish the Master Servicer, upon written request from a Servicing Officer, with any powers of attorney empowering the Master Servicer or the Servicer to execute and deliver instruments of satisfaction or cancellation, or of partial or full release or discharge, and to foreclose upon or otherwise liquidate Mortgaged Property, and to appeal, prosecute or defend in any court action relating to the Mortgage Loans or the Mortgaged Property, in accordance with the Servicing Agreement and this Agreement, and the Trustee shall execute and deliver such other documents, as the Master Servicer may request, to enable the Master Servicer to master service and administer the Mortgage Loans and carry out its duties hereunder, in each case in accordance with Accepted Master Servicing Practices (and the Trustee shall have no liability for misuse of any such powers of attorney by the Master Servicer or the Servicer). If the Master Servicer or the Trustee has been advised that it is likely that the laws of the state in which action is to be taken prohibit such action if taken in the name of the Trustee or that the Trustee would be adversely affected under the “doing business” or tax laws of such state if such action is taken in its name, the Master Servicer shall join with the Trustee in the appointment of a co-trustee pursuant to Section 9.11 hereof. In the performance of its duties hereunder, the Master Servicer shall be an independent contractor and shall not, except in those instances where it is taking action in the name of the Trust, be deemed to be the agent of the Trust.
 
Section 3.06  Due-on-Sale Clauses; Assumption Agreements.
 
To the extent provided in the Servicing Agreement, to the extent Mortgage Loans contain enforceable due-on-sale clauses, the Master Servicer shall cause the Servicer to enforce such clauses in accordance with the Servicing Agreement. If applicable law prohibits the enforcement of a due-on-sale clause or such clause is otherwise not enforced in accordance with the Servicing Agreement, and, as a consequence, a Mortgage Loan is assumed, the original Mortgagor may be released from liability in accordance with the Servicing Agreement.
 
Section 3.07  Release of Mortgage Files.
 
(a)  Upon becoming aware of the payment in full of any Mortgage Loan, or the receipt by the Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next Distribution Date, the Servicer will, if required under the Servicing Agreement (or if the Servicer does not, the Master Servicer may), promptly furnish to the Custodian, on behalf of the Trustee, two copies of a certification substantially in the form of Exhibit D, (or as otherwise provided in the Custodial Agreement) hereto signed by a Servicing Officer or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer (which certification shall include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Protected Account maintained by the Servicer pursuant to Section 4.01 or by the Servicer pursuant to the Servicing Agreement have been or will be so deposited) and shall request that the Custodian, on behalf of the Trustee, deliver to the Servicer the related Mortgage File. Upon receipt of such certification and request, the Custodian, on behalf of the Trustee, shall promptly release the related Mortgage File to the applicable Servicer and the Trustee and Custodian shall have no further responsibility with regard to such Mortgage File. Upon any such payment in full, the Servicer is authorized, to give, as agent for the Trustee, as the mortgagee under the Mortgage that secured the Mortgage Loan, an instrument of satisfaction (or assignment of mortgage without recourse) regarding the Mortgaged Property subject to the Mortgage, which instrument of satisfaction or assignment, as the case may be, shall be delivered to the Person or Persons entitled thereto against receipt therefor of such payment, it being understood and agreed that no expenses incurred in connection with such instrument of satisfaction or assignment, as the case may be, shall be chargeable to the Protected Account.
 
(b)  From time to time and as appropriate for the servicing or foreclosure of any Mortgage Loan and in accordance with the Servicing Agreement, upon written instruction from the Servicer or the Master Servicer, the Trustee shall execute such documents as shall be prepared and furnished to the Trustee by the Servicer or the Master Servicer (in form reasonably acceptable to the Trustee) and as are necessary to the prosecution of any such proceedings. The Custodian, on behalf of the Trustee, shall, upon the request of the Servicer or the Master Servicer, and delivery to the Custodian, on behalf of the Trustee, of two copies of a request for release signed by a Servicing Officer substantially in the form of Exhibit D, (or in a mutually agreeable electronic format which will, in lieu of a signature on its face, originate from a Servicing Officer), release the related Mortgage File held in its possession or control to the Servicer or the Master Servicer, as applicable. Such trust receipt shall obligate the Servicer or the Master Servicer to return the Mortgage File to the Custodian on behalf of the Trustee, when the need therefor by the Servicer or the Master Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Mortgage File shall be released by the Custodian, on behalf of the Trustee, to the Servicer or the Master Servicer.
 
Section 3.08  Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee.
 
(a)  The Master Servicer and the Servicer (to the extent required by the Servicing Agreement) shall transmit to the Trustee or Custodian on its behalf such documents and instruments coming into the possession of the Master Servicer or the Servicer from time to time as are required by the terms hereof, or in the case of the Servicer, the Servicing Agreement, to be delivered to the Trustee or Custodian on its behalf. Any funds received by the Master Servicer or by the Servicer in respect of any Mortgage Loan or which otherwise are collected by the Master Servicer or by the Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan shall be held for the benefit of the Trustee and the Certificateholders subject to the Master Servicer’s right to retain or withdraw from the Master Servicer Collection Account, the Master Servicing Compensation and other amounts provided in this Agreement, and to the right of the Servicer to retain its Servicing Fee and other amounts as provided in the Servicing Agreement. The Master Servicer and the Servicer shall provide access to information and documentation regarding the Mortgage Loans to the Trustee, its agents and accountants at any time upon reasonable request and during normal business hours, and to Certificateholders that are savings and loan associations, banks or insurance companies, the Office of Thrift Supervision, the FDIC and the supervisory agents and examiners of such Office and Corporation or examiners of any other federal or state banking or insurance regulatory authority if so required by applicable regulations of the Office of Thrift Supervision or other regulatory authority, such access to be afforded without charge but only upon reasonable request in writing and during normal business hours at the offices of the Master Servicer designated by it. In fulfilling such a request the Master Servicer shall not be responsible for determining the sufficiency of such information.
 
(b)  All Mortgage Files and funds collected or held by, or under the control of, the Master Servicer, in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds or Insurance Proceeds, shall be held by the Master Servicer for and on behalf of the Trustee and the Certificateholders and shall be and remain the sole and exclusive property of the Trustee; provided, however, that the Master Servicer and the Servicer shall be entitled to setoff against, and deduct from, any such funds any amounts that are properly due and payable to the Master Servicer or the Servicer under this Agreement or the Servicing Agreement.
 
Section 3.09  Standard Hazard Insurance and Flood Insurance Policies.
 
(a)  For each Mortgage Loan, the Master Servicer shall enforce any obligation of the Servicer under the Servicing Agreement to maintain or cause to be maintained standard fire and casualty insurance and, where applicable, flood insurance, all in accordance with the provisions of the Servicing Agreement. It is understood and agreed that such insurance shall be with insurers meeting the eligibility requirements set forth in the Servicing Agreement and that no earthquake or other additional insurance is to be required of any Mortgagor or to be maintained on property acquired in respect of a defaulted 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.
 
(b)  Pursuant to Section 4.01 and 4.02, any amounts collected by the Servicer or the Master Servicer, or by the Servicer, under any insurance policies (other than amounts to be applied to the restoration or repair of the property subject to the related Mortgage or released to the Mortgagor in accordance with the Servicing Agreement) shall be deposited into the Master Servicer Collection Account, subject to withdrawal pursuant to Section 4.03. Any cost incurred by the Master Servicer or the Servicer in maintaining any such insurance if the Mortgagor defaults in its obligation to do so shall be added to the amount owing under the Mortgage Loan where the terms of the Mortgage Loan so permit; provided, however, that the addition of any such cost shall not be taken into account for purposes of calculating the distributions to be made to Certificateholders and shall be recoverable by the Master Servicer or the Servicer pursuant to Section 4.03.
 
Section 3.10  Presentment of Claims and Collection of Proceeds.
 
The Master Servicer shall (to the extent provided in the Servicing Agreement) cause the Servicer to prepare and present on behalf of the Trustee and the Certificateholders all claims under the Insurance Policies and take such actions (including the negotiation, settlement, compromise or enforcement of the insured’s claim) as shall be necessary to realize recovery under such policies. Any proceeds disbursed to the Master Servicer (or disbursed to the Servicer and remitted to the Master Servicer) in respect of such policies, bonds or contracts shall be promptly deposited in the Master Servicer Collection Account upon receipt, except that any amounts realized that are to be applied to the repair or restoration of the related Mortgaged Property, which repair or restoration the owner of such Mortgaged Property or EMC, as applicable, has agreed to make as a condition precedent to the presentation of claims on the related Mortgage Loan to the insurer under any applicable Insurance Policy need not be so deposited (or remitted).
 
Section 3.11  Maintenance of the Primary Mortgage Insurance Policies.
 
(a)  The Master Servicer shall not take, or authorize the Servicer (to the extent such action is prohibited under the Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer or the Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Servicer (to the extent required under the Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the Servicing Agreement, as applicable. The Master Servicer shall not, and shall not authorize the Servicer (to the extent required under the Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the Servicing Agreement, as applicable.
 
(b)  The Master Servicer agrees to present, or to cause the Servicer (to the extent required under the Servicing Agreement) to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01 and 4.04, any amounts collected by the Master Servicer or the Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Master Servicer Collection Account, subject to withdrawal pursuant to Sections 4.03.
 
Section 3.12  Trustee to Retain Possession of Certain Insurance Policies and Documents.
 
The Trustee (or the Custodian, on behalf of the Trustee), shall retain possession and custody of the originals (to the extent available) of any Primary Mortgage Insurance Policies, or certificate of insurance if applicable, and any certificates of renewal as to the foregoing as may be issued from time to time as contemplated by this Agreement. Until all amounts distributable in respect of the Certificates have been distributed in full and the Master Servicer otherwise has fulfilled its obligations under this Agreement, the Trustee (or its Custodian, if any, on behalf of the Trustee) shall also retain possession and custody of each Mortgage File in accordance with and subject to the terms and conditions of this Agreement. The Master Servicer shall promptly deliver or cause to be delivered to the Trustee (or the Custodian, on behalf of the Trustee), upon the execution or receipt thereof the originals of any Primary Mortgage Insurance Policies, any certificates of renewal, and such other documents or instruments that constitute portions of the Mortgage File that come into the possession of the Master Servicer from time to time.
 
Section 3.13  Realization Upon Defaulted Mortgage Loans.
 
The Master Servicer shall cause the Servicer (to the extent required under the Servicing Agreement) to foreclose upon, repossess or otherwise comparably convert the ownership of Mortgaged 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, all in accordance with the Servicing Agreement.
 
Section 3.14  Compensation for the Master Servicer.
 
The Master Servicer will be entitled to all income and gain realized from any investment of funds in the Master Servicer Collection Account, for the performance of its activities hereunder. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.
 
Section 3.15  REO Property.
 
(a)  In the event the Trust Fund acquires ownership of any REO Property in respect of any related Mortgage Loan, the deed or certificate of sale shall be issued to the Trustee, or to its nominee, on behalf of the related Certificateholders. The Master Servicer shall, to the extent provided in the Servicing Agreement, cause the applicable Servicer to sell any REO Property as expeditiously as possible and in accordance with the provisions of this Agreement and the Servicing Agreement, as applicable. Pursuant to its efforts to sell such REO Property, the Master Servicer shall cause the applicable Servicer to protect and conserve, such REO Property in the manner and to the extent required by the Servicing Agreement, in accordance with the REMIC Provisions and in a manner that does not result in a tax on “net income from foreclosure property” or cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code.
 
(b)  The Master Servicer shall, to the extent required by the Servicing Agreement, cause the applicable Servicer to deposit all funds collected and received in connection with the operation of any REO Property in the related Protected Account.
 
(c)  The Master Servicer and the applicable Servicer, upon the final disposition of any REO Property, shall be entitled to reimbursement for any related unreimbursed Monthly Advances and other unreimbursed advances as well as any unpaid Servicing Fees from Liquidation Proceeds received in connection with the final disposition of such REO Property; provided, that any such unreimbursed Monthly Advances as well as any unpaid Servicing Fees may be reimbursed or paid, as the case may be, prior to final disposition, out of any net rental income or other net amounts derived from such REO Property.
 
(d)  To the extent provided in the Servicing Agreement, the Liquidation Proceeds from the final disposition of the REO Property, net of any payment to the Master Servicer and the applicable Servicer as provided above, subject to approval by the Master Servicer, shall be deposited in the related Protected Account on or prior to the Determination Date in the month following receipt thereof and be remitted by wire transfer in immediately available funds to the Master Servicer for deposit into the Master Servicer Collection Account on the next succeeding Servicer Remittance Date.
 
Section 3.16  Annual Statement as to Compliance.
 
(a)  The Master Servicer and the Trustee shall deliver (or otherwise make available) to the Depositor and the Trustee not later than March 15th of each calendar year beginning in 2008, an Officer’s Certificate (an “Annual Statement of Compliance”) stating, as to each signatory thereof, that (i) a review of the activities of each such party during the preceding calendar year and of its performance under this Agreement or other applicable servicing agreement has been made under such officer’s supervision and (ii) to the best of such officer’s knowledge, based on such review, such party has fulfilled all of its obligations under this Agreement or other applicable servicing agreement in all material respects throughout such year, 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 of the cure provisions thereof. Such Annual Statement of Compliance shall contain no restrictions or limitations on its use. The Master Servicer shall enforce the obligations of each Servicer, to the extent set forth in the Servicing Agreement, to deliver a similar Annual Statement of Compliance by that Servicer to the Depositor and the Trustee as described above as and when required with respect to the Master Servicer. In the event that certain servicing responsibilities with respect to any Mortgage Loan have been delegated by the Master Servicer, the Trustee or the Servicer to a subservicer or subcontractor, each such entity shall cause such subservicer or subcontractor (and with respect to the Servicer, the Master Servicer shall enforce the obligation of the Servicer to the extent required under the Servicing Agreement) to deliver a similar Annual Statement of Compliance by such subservicer or subcontractor to the Depositor and the Trustee as described above as and when required with respect to the Master Servicer or the Servicer (as the case may be).
 
(b)  Failure of the Master Servicer to comply with this Section 3.16 (including with respect to the timeframes required herein) shall be deemed an Event of Default, and at the written direction of the Depositor the Trustee shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice 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 without compensating the Master Servicer for the same (but subject to the Master Servicer’s rights to payment of any Master Servicing Compensation and reimbursement of all amounts for which it is entitled to be reimbursed prior to the date of termination). Failure of the Trustee to comply with this Section 3.16 (including with respect to the timeframes required in this Section) which failure results in a failure to timely file the related Form 10-K, shall be deemed a default and the Trustee at the written direction of the Depositor shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice immediately terminate all of the rights and obligations of the Trustee under this Agreement and in and to the Mortgage Loans and the proceeds thereof without compensating the Trustee for the same. This paragraph shall supersede any other provision in this Agreement or any other agreement to the contrary.
 
Section 3.17  Assessments of Compliance and Attestation Reports.
 
Pursuant to Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122 of Regulation AB, each of the Master Servicer, the Trustee and the Custodian (to the extent set forth in this Section) (each, an “Attesting Party”) shall deliver (or otherwise make available) to the Master Servicer, the Trustee and the Depositor on or before March 15th of each calendar year beginning in 2008, a report regarding such Attesting Party’s assessment of compliance (an “Assessment of Compliance”) with the Servicing Criteria during the preceding calendar year. The Assessment of Compliance, as set forth in Regulation AB, must contain the following:
 
(a) A statement by an authorized officer of such Attesting Party of its authority and responsibility for assessing compliance with the Servicing Criteria applicable to the related Attesting Party;
 
(b) A statement by an authorized officer that such Attesting Party used the Servicing Criteria attached as Exhibit M hereto, and which will also be attached to the Assessment of Compliance, to assess compliance with the Servicing Criteria applicable to the related Attesting Party;
 
(c) An assessment by such officer of the related Attesting Party’s compliance with the Servicing Criteria for the period consisting of the preceding calendar year, including disclosure of any material instance of noncompliance with respect thereto during such period, which assessment shall be based on the activities such Attesting Party performs with respect to asset-backed securities transactions taken as a whole involving the related Attesting Party, that are backed by the same asset type as the Mortgage Loans;
 
(d) A statement that a registered public accounting firm has issued an attestation report on the related Attesting Party’s Assessment of Compliance for the period consisting of the preceding calendar year; and
 
(e) A statement as to which of the Servicing Criteria, if any, are not applicable to the related Attesting Party, which statement shall be based on the activities such Attesting Party performs with respect to asset-backed securities transactions taken as a whole involving such Attesting Party, that are backed by the same asset type as the Mortgage Loans.
 
Such report at a minimum shall address each of the Servicing Criteria specified on Exhibit M hereto which are indicated as applicable to the related Attesting Party.
 
On or before March 15th of each calendar year beginning in 2008, each Attesting Party shall furnish to the Master Servicer, the Depositor and the Trustee a report (an “Attestation Report”) by a registered public accounting firm that attests to, and reports on, the Assessment of Compliance made by the related Attesting Party, as required by Rules 13a-18 and 15d-18 of the Exchange Act and Item 1122(b) of Regulation AB, which Attestation Report must be made in accordance with standards for attestation reports issued or adopted by the Public Company Accounting Oversight Board.
 
The Master Servicer shall enforce the obligation of the Servicer to deliver to the Master Servicer and the Depositor an Assessment of Compliance and Attestation Report as and when provided in the Servicing Agreement. In addition, each of the Master Servicer and the Trustee shall cause, and the Master Servicer shall enforce the obligation (as and when provided in the Servicing Agreement) of the Servicer to cause, any subservicer and each subcontractor (to the extent such subcontractor is determined by the Master Servicer or the Trustee, as applicable, to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB) that is engaged by the Servicer, Master Servicer or Trustee, as applicable, to deliver to the Master Servicer and the Depositor an Assessment of Compliance and Attestation Report as and when provided under the term of the Servicing Agreement. Pursuant to the Servicing Agreement, the Servicer, or any subservicer and each subcontractor (to the extent such subcontractor is determined by the Master Servicer to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB) that is engaged by the Servicer, is obligated to provide such Assessment of Compliance and Attestation Report on the 1st of March and in no event later than the 15th of March each year that the related Mortgage Loans are serviced under the Servicing Agreement. The Master Servicer shall deliver to the Trustee any such Assessment of Compliance and Attestation Report received from the Servicer or any subservicer and each subcontractor (to the extent such subcontractor is determined by the Master Servicer to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB) that is engaged by the Servicer, within two business days of such receipt but in no event later than two Business Days following the 15th day of March for each year for which a Report on Form 10-K is required to be filed with respect to the Trust Fund. Such Assessment of Compliance, as to any subservicer or subcontractor, shall at a minimum address the Servicing Criteria specified on Exhibit M hereto which are indicated as applicable to any “primary servicer” to the extent such subservicer or subcontractor is performing any servicing function for the party who engages it and to the extent such party is not itself addressing the Servicing Criteria related to such servicing function in its own Assessment of Compliance. The Trustee shall confirm that each of the Assessments of Compliance delivered to it, taken as a whole, address all of the Servicing Criteria and taken individually address the Servicing Criteria for each party as set forth in Exhibit M and notify the Depositor of any exceptions. Notwithstanding the foregoing, as to any subcontractor, an Assessment of Compliance and Attestation Report is not required to be delivered unless it is required as part of a Form 10-K with respect to the Trust Fund.
 
The Custodian shall deliver to the Master Servicer, the Trustee and the Depositor an Assessment of Compliance and Attestation Report, as and when provided above, which shall at a minimum address each of the Servicing Criteria specified on Exhibit M hereto which are indicated as applicable to a “custodian”. Notwithstanding the foregoing, an Assessment of Compliance or Attestation Report is not required to be delivered by any Custodian unless it is required as part of a Form 10-K with respect to the Trust Fund.
 
Failure of the Master Servicer to comply with this Section 3.17 (including with respect to the timeframes required herein) shall, upon written notice from the Trustee at the written direction of the Depositor, constitute an Event of Default, and at the written direction of the Depositor the Trustee shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice 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 without compensating the Master Servicer for the same (but subject to the Master Servicer’s rights to payment of any Master Servicing compensation and reimbursement of all amounts for which it is entitled to be reimbursed prior to the date of termination). Failure of the Trustee to comply with this Section 3.17 (including with respect to the timeframes required in this Section) which failure results in a failure to timely file the related Form 10-K, shall, upon written notice from the Trustee at the written direction of the Depositor, constitute a default and the Trustee shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice immediately terminate all of the rights and obligations of the Trustee under this Agreement and in and to the Mortgage Loans and the proceeds thereof without compensating the Trustee for the same (but subject to the Trustee’s right to reimbursement of all amounts for which it is entitled to be reimbursed prior to the date of termination). This paragraph shall supersede any other provision in this Agreement or any other agreement to the contrary.
 
Section 3.18  Reports Filed with Securities and Exchange Commission.
 
(a) (i) (A) Within 15 days after each Distribution Date, the Trustee shall, in accordance with industry standards, prepare and file with the Commission via the Electronic Data Gathering and Retrieval System (“EDGAR”), a Distribution Report on Form 10-D, signed by the Master Servicer, with a copy of the Monthly Statement to be furnished by the Trustee to the Certificateholders for such Distribution Date; provided that, the Trustee shall have received no later than five (5) calendar days after the related Distribution Date, all information required to be provided to the Trustee as described in clause (a)(iv) below. Any disclosure that is in addition to the Monthly Statement and that is required to be included on Form 10-D (“Additional Form 10-D Disclosure”) shall be, pursuant to the paragraph immediately below, reported by the parties set forth on Exhibit N to the Trustee and the Depositor and approved for inclusion by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-D Disclosure absent such reporting (other than in the case where the Trustee is the reporting party as set forth in Exhibit N) and approval.
 
(B) Within five (5) calendar days after the related Distribution Date, (i) the parties set forth in Exhibit N shall be required to provide, and the Master Servicer shall enforce the obligations of the Servicer (to the extent provided in the Servicing Agreement) to provide, pursuant to Section 3.18(a)(iv) below, to the Trustee and the Depositor, to the extent known by a responsible officer thereof, in EDGAR-compatible format, or in such other form as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of any Additional Form 10-D Disclosure, if applicable, and (ii) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D. Subject to the foregoing, the Trustee has no duty under this Agreement to monitor or enforce the performance by the other parties listed on Exhibit O of their duties under this paragraph or to proactively solicit or procure from such parties any Additional Form 10-D Disclosure information. The Depositor shall be responsible for any reasonable fees and expenses assessed or incurred by the Trustee in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this Section.
 
(C) After preparing the Form 10-D, the Trustee shall forward electronically a copy of the Form 10-D to the Depositor (in the case of any Additional 10-D Disclosure and otherwise if requested by the Depositor) and the Master Servicer for review. Within two Business Days after receipt of such copy, but no later than the 12th calendar day after the Distribution Date (provided that, the Trustee forwards a copy of the Form 10-D no later than the 10th calendar after the Distribution Date), the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 10-D. In the absence of receipt of any written changes or approval, the Trustee shall be entitled to assume that such Form 10-D is in final form and the Trustee may proceed with obtaining the execution of and filing the Form 10-D. No later than the 13th calendar day after the related Distribution Date, a duly authorized officer of the Master Servicer shall sign the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed hard copy to follow by overnight mail) to the Trustee. If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be amended, the Trustee shall follow the procedures set forth in Section 3.18(a)(v)(B). Promptly (but no later than one (1) Business Day) after filing with the Commission, the Trustee shall make available on its internet website identified in Section 6.04 a final executed copy of each Form 10-D filed by the Trustee. The signing party for the Master Servicer can be contacted as set forth in Section 12.07. Form 10-D requires the registrant to indicate (by checking “yes” or “no”) that it (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. The Depositor shall notify the Trustee in writing, no later than the fifth calendar day after the related Distribution Date with respect to the filing of a report on Form 10-D, if the answer to the questions should be “no”. The Trustee shall be entitled to rely on the representations in Section 2.06(vii) and in any such notice in preparing, executing and/or filing any such report. The parties to this Agreement acknowledge that the performance by the Master Servicer and the Trustee of their respective duties under Sections 3.18(a)(i) and (v) related to the timely preparation, execution and filing of Form 10-D is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties under such Sections. Neither the Master Servicer nor the Trustee shall have any liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, execute and/or timely file such Form 10-D, where such failure results from a party’s failure to deliver, on a timely basis, any information from such party needed to prepare, arrange for execution or file such Form 10-D, not resulting from its own negligence, bad faith or willful misconduct.
 
(ii) (A) Within four (4) Business Days after the occurrence of an event requiring disclosure on Form 8-K (each such event, a “Reportable Event”), the Trustee shall prepare and file, at the direction of the Depositor, on behalf of the Trust, any Form 8-K, as required by the Exchange Act; provided that, the Depositor shall file the initial Form 8-K in connection with the issuance of the Certificates. Any disclosure or information related to a Reportable Event or that is otherwise required to be included on Form 8-K (“Form 8-K Disclosure Information”) shall be, pursuant to the paragraph immediately below, reported by the parties set forth on Exhibit N to the Trustee and the Depositor and approved for inclusion by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information absent such reporting (other than in the case where the Trustee is the reporting party as set forth in Exhibit N) and approval.
 
(B) For so long as the Trust is subject to the Exchange Act reporting requirements, no later than the close of business on the 2nd Business Day after the occurrence of a Reportable Event (i) the parties set forth in Exhibit N shall be required pursuant to Section 3.18(a)(iv) below to provide, and the Master Servicer will enforce the obligations of the Servicer (to the extent provided in the Servicing Agreement) to provide, to the Trustee and the Depositor, to the extent known by a responsible officer thereof, in EDGAR-compatible format, or in such other form as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of any Form 8-K Disclosure Information, if applicable, and (ii) the Depositor shall approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information on Form 8-K. The Depositor shall be responsible for any reasonable fees and expenses assessed or incurred by the Trustee in connection with including any Form 8-K Disclosure Information on Form 8-K pursuant to this Section.
 
(C) After preparing the Form 8-K, the Trustee shall forward electronically a copy of the Form 8-K to the Depositor and the Master Servicer for review. No later than the close of business New York City time on the 3rd Business Day after the Reportable Event, a duly authorized officer of the Master Servicer shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed hard copy to follow by overnight mail) to the Trustee. Promptly, but no later than the close of business on the 3rd Business Day after the Reportable Event (provided that, the Trustee forwards a copy of the Form 8-K no later than noon New York time on the third Business Day after the Reportable Event), the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 8-K. In the absence of receipt of any written changes or approval, the Trustee shall be entitled to assume that such Form 8-K is in final form and the Trustee may proceed with obtaining the execution of and filing the Form 8-K. If a Form 8-K cannot be filed on time or if a previously filed Form 8-K needs to be amended, the Trustee shall follow the procedures set forth in Section 3.18(a)(v)(B). Promptly (but no later than one (1) Business Day) after filing with the Commission, the Trustee shall, make available on its internet website a final executed copy of each Form 8-K filed by the Trustee. The signing party at the Master Servicer can be contacted as set forth in Section 12.07. The parties to this Agreement acknowledge that the performance by Master Servicer and the Trustee of their respective duties under this Section 3.18(a)(ii) related to the timely preparation, execution and filing of Form 8-K is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties under this Section 3.18(a)(ii). Neither the Master Servicer nor the Trustee shall have any liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, execute and/or timely file such Form 8-K, where such failure results from a party’s failure to deliver on a timely basis, any information from such party hereto needed to prepare, arrange for execution or file such Form 8-K, not resulting from its own negligence, bad faith or willful misconduct.
 
(iii) (A) Within 90 days after the end of each fiscal year of the Trust or such earlier date as may be required by the Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal year for the Trust ends on December 31st of each year), commencing in March 2008, the Trustee shall prepare and file on behalf of the Trust a Form 10-K, in form and substance as required by the Exchange Act. Each such Form 10-K shall include the following items, in each case to the extent they have been delivered to the Trustee within the applicable timeframes set forth in this Agreement, (I) an annual compliance statement for the Servicer, the Master Servicer, the Trustee and any subservicer or subcontractor, as applicable, as described under Section 3.16, (II)(A) the annual reports on assessment of compliance with Servicing Criteria for the Master Servicer, the Servicer, each subservicer and subcontractor participating in the servicing function, the Trustee and the Custodian, as described under Section 3.17, and (B) if any such report on assessment of compliance with Servicing Criteria described under Section 3.17 identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such report on assessment of compliance with Servicing Criteria described under Section 3.17 is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such report is not included, (III)(A) the registered public accounting firm attestation report for the Master Servicer, the Servicer, the Trustee, each subservicer, each subcontractor, as applicable, and the Custodian, as described under Section 3.17, and (B) if any registered public accounting firm attestation report described under Section 3.17 identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting firm attestation report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation why such report is not included, and (IV) a Sarbanes-Oxley Certification as described in Section 3.18 (a)(iii)(D) below (provided, however, that the Trustee, at its discretion, may omit from the Form 10-K any annual compliance statement, assessment of compliance or attestation report that is not required to be filed with such Form 10-K pursuant to Regulation AB). Any disclosure or information in addition to (I) through (IV) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall be, pursuant to the paragraph immediately below, reported by the parties set forth on Exhibit N to the Trustee and the Depositor and approved for inclusion by the Depositor, and the Trustee will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure absent such reporting (other than in the case where the Trustee is the reporting party as set forth in Exhibit N) and approval.
 
(B) No later than March 15th of each year that the Trust is subject to the Exchange Act reporting requirements, commencing in 2008, (i) the parties set forth in Exhibit N shall be required to provide, and the Master Servicer shall enforce the obligations of the Servicer (to the extent provided in the Servicing Agreement) to provide, pursuant to Section 3.18(a)(iv) below to the Trustee and the Depositor, to the extent known by a responsible officer thereof, in EDGAR-compatible format, or in such other form as otherwise agreed upon by the Trustee and the Depositor and such party, the form and substance of any Additional Form 10-K Disclosure, if applicable, and (ii) the Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-K Disclosure on Form 10-K. The Depositor shall be responsible for any reasonable fees and expenses assessed or incurred by the Trustee in connection with including any Additional Form 10-K Disclosure on Form 10-K pursuant to this Section.
 
(C) After preparing the Form 10-K, the Trustee shall forward electronically a copy of the Form 10-K to the Depositor (only in the case where such Form 10-K includes Additional Form 10-K Disclosure and otherwise if requested by the Depositor) and the Master Servicer for review. Within three Business Days after receipt of such copy, but no later than March 25th (provided that, the Trustee forwards a copy of the Form 10-K no later than the third Business Day prior to March 25th), the Depositor shall notify the Trustee in writing (which may be furnished electronically) of any changes to or approval of such Form 10-K. In the absence of receipt of any written changes or approval, the Trustee shall be entitled to assume that such Form 10-K is in final form and the Trustee may proceed with obtaining the execution of and filing the Form 10-K. No later than the close of business Eastern Standard time on the 4th Business Day prior to the 10-K Filing Deadline, an officer of the Master Servicer in charge of the master servicing function shall sign the Form 10-K and return an electronic or fax copy of such signed Form 10-K (with an original executed hard copy to follow by overnight mail) to the Trustee. If a Form 10-K cannot be filed on time or if a previously filed Form 10-K needs to be amended, the Trustee will follow the procedures set forth in Section 3.18(a)(v)(B). Promptly (but no later than one (1) Business Day) after filing with the Commission, the Trustee shall make available on its internet website a final executed copy of each Form 10-K filed by the Trustee. The signing party for the Master Servicer can be contacted as set forth in Section 12.07. Form 10-K requires the registrant to indicate (by checking “yes” or “no”) that it (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. The Depositor shall notify the Trustee in writing, no later than March 15th of each year in which the Trust is subject to the requirements of the Exchange Act with respect to the filing of a report on Form 10-K, if the answer to the questions should be “no”. The Trustee shall be entitled to rely on the representations in Section 2.06(vii) and in any such notice in preparing, executing and/or filing any such report. The parties to this Agreement acknowledge that the performance by the Master Servicer and the Trustee of their respective duties under Sections 3.18(a)(iv) and (v) related to the timely preparation, execution and filing of Form 10-K is contingent upon such parties strictly observing all applicable deadlines in the performance of their duties under such Sections and Sections 3.16 and Section 3.17. Neither the Master Servicer nor the Trustee shall have any liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare, execute and/or timely file such Form 10-K, where such failure results from the Master Servicer’s or the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such Form 10-K, not resulting from its own negligence, bad faith or willful misconduct.
 
(D) Each Form 10-K shall include a certification (the “Sarbanes-Oxley Certification”) required to be included therewith pursuant to the Sarbanes-Oxley Act which shall be signed by the Certifying Person and delivered to the Trustee no later than March 15th of each year in which the Trust is subject to the reporting requirements of the Exchange Act. The Master Servicer shall cause the Servicer, and any subservicer or subcontractor engaged by it to provide to the Person who signs the Sarbanes-Oxley Certification (the “Certifying Person”), by March 10th of each year in which the Trust is subject to the reporting requirements of the Exchange Act (or such other date specified in the Servicing Agreement) and otherwise within a reasonable period of time upon request, a certification (each, a “Back-Up Certification”), in the form attached hereto as Exhibit L, upon which the Certifying Person, the entity for which the Certifying Person acts as an officer, and such entity’s officers, directors and Affiliates (collectively with the Certifying Person, “Certification Parties”) can reasonably rely. In addition, the Trustee shall sign a Back-Up Certification substantially in the form of Exhibit L; provided, however, that the Trustee shall not be required to undertake an analysis of any accountant’s report attached as an exhibit to the Form 10-K. An officer of the Master Servicer in charge of the master servicing function shall serve as the Certifying Person on behalf of the Trust. Such officer of the Certifying Person can be contacted as set forth in Section 12.07.
 
(iv) With respect to any Additional Form 10-D Disclosure, Additional Form 10-K Disclosure or any Form 8-K Disclosure Information (collectively, the “Additional Disclosure”) relating to the Trust Fund, the Trustee’s obligation to include such Additional Information in the applicable Exchange Act report is subject to receipt from the entity that is indicated in Exhibit N as the responsible party for providing that information, if other than the Trustee, as and when required as described in Section 3.18(a)(i) through (iii) above. Such Additional Disclosure shall be accompanied by a notice substantially in the form of Exhibit O. Each of the Master Servicer, the Seller, the Trustee and the Depositor hereby agrees to notify and provide, and the Master Servicer agrees to enforce the obligations (to the extent provided in the Servicing Agreement) of the Servicer to notify and provide, to the extent known to the Master Servicer, the Seller, the Trustee and the Depositor all Additional Disclosure relating to the Trust Fund, with respect to which such party is indicated in Exhibit N as the responsible party for providing that information. The Depositor shall be responsible for any reasonable fees and expenses assessed or incurred by the Trustee in connection with including any Additional Disclosure information pursuant to this Section.
 
So long as the Depositor is subject to the filing requirements of the Exchange Act with respect to the Trust Fund, the Trustee shall notify the Trustee and the Depositor of any bankruptcy or receivership with respect to the Trustee or of any proceedings of the type described under Item 1117 of Regulation AB that have occurred as of the related Due Period, together with a description thereof, no later than the date on which such information is required of other parties hereto as set forth under this Section 3.18. In addition, the Trustee shall notify the Trustee and the Depositor of any affiliations or relationships that develop after the Closing Date between the Trustee and the Depositor, the Seller, the Trustee, the Master Servicer or the Custodian of the type described under Item 1119 of Regulation AB, together with a description thereof, no later than March 15 of each year that the Trust is subject to the Exchange Act reporting requirements, commencing in 2008. Should the identification of any of the Depositor, the Seller, the Trustee, the Master Servicer or the Custodian change, the Depositor shall promptly notify the Trustee in writing.
 
(v) (A) On or prior to January 30th of the first year in which the Trustee is able to do so under applicable law, the Trustee shall prepare and file a Form 15 relating to the automatic suspension of reporting in respect of the Trust under the Exchange Act.
 
(B) In the event that the Trustee is unable to timely file with the Commission all or any required portion of any Form 8-K, 10-D or 10-K required to be filed by this Agreement because required disclosure information was either not delivered to it or delivered to it after the delivery deadlines set forth in this Agreement or for any other reason, the Trustee shall promptly notify the Depositor and the Master Servicer. In the case of Form 10-D and 10-K, the Depositor, the Master Servicer and the Trustee shall cooperate to prepare and file a Form 12b-25 and a 10-DA and 10-KA as applicable, pursuant to Rule 12b-25 of the Exchange Act. In the case of Form 8-K, the Trustee will, upon receipt of all required Form 8-K Disclosure Information and upon the approval and direction of the Depositor, include such disclosure information on the next Form 10-D. In the event that any previously filed Form 8-K, 10-D or 10-K needs to be amended, and such amendment relates to any Additional Disclosure, the Trustee shall notify the Depositor and the parties affected thereby and such parties will cooperate to prepare any necessary Form 8-K, 10-DA or 10-KA. Any Form 15, Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K shall be signed by an appropriate officer of the Master Servicer. The parties hereto acknowledge that the performance by the Master Servicer and the Trustee of their respective duties under this Section 3.18(a)(v) related to the timely preparation, execution and filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K is contingent upon the Master Servicer and the Depositor timely performing their duties under this Section. Neither the Master Servicer nor the Trustee shall have any liability for any loss, expense, damage or claim arising out of or with respect to any failure to properly prepare, execute and/or timely file any such Form 15, Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K, where such failure results from a party’s failure to deliver on a timely basis, any information from such party needed to prepare, arrange for execution or file such Form 15, Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K, not resulting from its own negligence, bad faith or willful misconduct.
 
The Depositor agrees to promptly furnish to the Trustee, from time to time upon request, such further information, reports and financial statements within its control related to this Agreement, the Mortgage Loans as the Trustee reasonably deems appropriate to prepare and file all necessary reports with the Commission. The Trustee shall have no responsibility to file any items other than those specified in this Section 3.18; provided, however, the Trustee shall cooperate with the Depositor in connection with any additional filings with respect to the Trust Fund as the Depositor deems necessary under the Exchange Act. Fees and expenses incurred by the Trustee in connection with this Section 3.18 shall not be reimbursable from the Trust Fund.
 
(b) The Trustee shall indemnify and hold harmless the Depositor and the Master Servicer and each of its officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach of the Trustee’s obligations under Sections 3.16, 3.17 and 3.18 or the Trustee’s negligence, bad faith or willful misconduct in connection therewith. In addition, the Trustee shall indemnify and hold harmless the Depositor and the Master Servicer and each of their respective officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Back-Up Certification, any Annual Statement of Compliance, any Assessment of Compliance or any Additional Disclosure provided by the Trustee on its behalf or on behalf of any subservicer or subcontractor engaged by the Trustee pursuant to Section 3.16, 3.17 or 3.18 (the “Trustee Information”), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading; provided, by way of clarification, that this paragraph shall be construed solely by reference to the Trustee Information and not to any other information communicated in connection with the Certificates, without regard to whether the Trustee Information or any portion thereof is presented together with or separately from such other information.
 
The Depositor shall indemnify and hold harmless the Trustee and the Master Servicer and each of its officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach of the obligations of the Depositor under Sections 3.16, 3.17 and 3.18 or the Depositor’s negligence, bad faith or willful misconduct in connection therewith. In addition, the Depositor shall indemnify and hold harmless the Master Servicer, the Trustee and each of their respective officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Additional Disclosure provided by the Depositor that is required to be filed pursuant to this Section 3.18 (the “Depositor Information”), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading; provided, by way of clarification, that this paragraph shall be construed solely by reference to the Depositor Information that is required to be filed and not to any other information communicated in connection with the Certificates, without regard to whether the Depositor Information or any portion thereof is presented together with or separately from such other information.
 
The Master Servicer shall indemnify and hold harmless the Trustee and the Depositor and each of its respective officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach of the obligations of the Master Servicer under Sections 3.16, 3.17 and 3.18 or the Master Servicer’s negligence, bad faith or willful misconduct in connection therewith. In addition, the Master Servicer shall indemnify and hold harmless the Depositor and each of its officers, directors and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments and other costs and expenses arising out of or based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Annual Statement of Compliance, any Assessment of Compliance or any Additional Disclosure provided by the Master Servicer on its behalf or on behalf of any subservicer or subcontractor engaged by the Master Servicer pursuant to Section 3.16, 3.17 or 3.18 (the “Master Servicer Information”), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading; provided, by way of clarification, that this paragraph shall be construed solely by reference to the Master Servicer Information and not to any other information communicated in connection with the Certificates, without regard to whether the Master Servicer Information or any portion thereof is presented together with or separately from such other information.
 
If the indemnification provided for herein is unavailable or insufficient to hold harmless the Depositor, the Trustee or the Master Servicer, as applicable, then the defaulting party, in connection with any conduct for which it is providing indemnification under this Section 3.18(b), agrees that it shall contribute to the amount paid or payable by the other parties as a result of the losses, claims, damages or liabilities of the other party in such proportion as is appropriate to reflect the relative fault and the relative benefit of the respective parties.
 
The indemnification provisions set forth in this Section 3.18(b) shall survive the termination of this Agreement or the termination of any party to this Agreement.
 
(c) Failure of the Master Servicer to comply with this Section 3.18 (including with respect to the timeframes required herein) shall, upon written notice from the Trustee at the written direction of the Depositor, constitute an Event of Default, and the Trustee shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice 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 without compensating the Master Servicer for the same (but subject to the Master Servicer’s rights to payment of any Master Servicing compensation and reimbursement of all amounts for which it is entitled to be reimbursed prior to the date of termination). Failure of the Trustee to comply with this Section 3.18 (including with respect to the timeframes required in this Section) which failure results in a failure to timely file the related Form 10-K, shall, upon written notice from the Trustee at the written direction of the Depositor, constitute a default and the Trustee at the written direction of the Depositor shall, in addition to whatever rights the Trustee may have under this Agreement and at law or equity or to damages, including injunctive relief and specific performance, upon notice immediately terminate all of the rights and obligations of the Trustee under this Agreement and in and to the Mortgage Loans and the proceeds thereof without compensating the Trustee for the same (but subject to the Trustee’s right to reimbursement of all amounts for which it is entitled to be reimbursed prior to the date of termination). This paragraph shall supersede any other provision in this Agreement or any other agreement to the contrary. In connection with the termination of the Master Servicer or the Trustee pursuant to this Section 3.18(c), the Trustee shall be entitled to reimbursement of all costs and expenses associated with such termination to the extent set forth in Section 9.05. Notwithstanding anything to the contrary in this Agreement, no Event of Default by the Master Servicer or default by the Trustee shall have occurred with respect to any failure to properly prepare, execute and/or timely file any report on Form 8-K, Form 10-D or Form 10-K, any Form 15 or Form 12b-25 or any amendments to Form 8-K, 10-D or 10-K, where such failure results from the Master Servicer’s or the Trustee’s inability or failure to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file any such report, Form or amendment, and does not result from its own negligence, bad faith or willful misconduct.
 
(d) Notwithstanding the provisions of Section 12.02, this Section 3.18 may be amended without the consent of the Certificateholders.
 
(e) Any report, notice or notification to be delivered by the Master Servicer or the Trustee to the Depositor pursuant to this Section 3.18, may be delivered via email to RegABNotifications@bear.com or, in the case of a notification, telephonically by calling Reg AB Compliance Manager at 212-272-7525.
 
Section 3.19  UCC.
 
The Depositor shall file any financing statements or amendments thereto required by any change in the Uniform Commercial Code.
 
Section 3.20  Optional Purchase of Defaulted Mortgage Loans.
 
(a)  With respect to any Mortgage Loan which as of the first day of a Fiscal Quarter is Delinquent in payment by 90 days or more or is an REO Property, the Seller shall have the right to purchase such Mortgage Loan from the Trust at a price equal to the Purchase Price; provided however (i) that such Mortgage Loan is still 90 days or more Delinquent or is an REO Property as of the date of such purchase and (ii) this purchase option, if not theretofore exercised, shall terminate on the date prior to the last day of the related Fiscal Quarter. This purchase option, if not exercised, shall not be thereafter reinstated unless the delinquency is cured and the Mortgage Loan thereafter again becomes 90 days or more Delinquent or becomes an REO Property, in which case the option shall again become exercisable as of the first day of the related Fiscal Quarter. This right may be assigned by the Seller to a third party, including a holder of a Class of Certificates.
 
(b)  In addition, EMC shall, at its option, purchase any Mortgage Loan from the Trust for which the first Scheduled Payment due to the Trust after the Closing Date becomes thirty (30) days past due; provided however, such Mortgage Loan was purchased by EMC or one of its affiliates from a seller pursuant to a loan purchase agreement that obligated such seller to repurchase such Mortgage Loan if one or more Scheduled Payments becomes 30 or more days delinquent (and such seller has agreed to repurchase such Mortgage Loan); provided, further, that such optional purchase shall be exercised no later than the 270th day after such Mortgage Loan is subject to such seller's repurchase obligation. Such purchase shall be made at a price equal to the Purchase Price.
 
(c)  If at any time EMC remits to the Master Servicer a payment for deposit in the Master Servicer Collection Account covering the amount of the Purchase Price for any Mortgage Loan purchased pursuant to clause (a), and EMC provides to the Trustee a certification signed by a Servicing Officer stating that the amount of such payment has been deposited in the Master Servicer Collection Account, then the Trustee shall execute the assignment of such Mortgage Loan prepared and delivered to the Trustee, at the request of EMC, without recourse, representation or warranty, to EMC which shall succeed to all of 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. EMC 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.
 
Section 3.21  Intention of the Parties and Interpretation.
 
Each of the parties acknowledges and agrees that the purpose of Sections 3.16, 3.17 and 3.18 of this Agreement is to facilitate compliance by the Seller, the Depositor, the Trustee and the Master Servicer with the provisions of Regulation AB. Therefore, each of the parties agrees that (a) the obligations of the parties hereunder shall be interpreted in such a manner as to accomplish that purpose, (b) the parties’ obligations hereunder will be supplemented and modified as necessary to be consistent with any such amendments, interpretive advice or guidance, convention or consensus among active participants in the asset-backed securities markets, advice of counsel, or otherwise in respect of the requirements of Regulation AB, (c) the parties shall comply with reasonable requests made by the Seller, the Depositor, the Master Servicer or the Trustee for delivery of additional or different information as the Seller, the Depositor, the Master Servicer or the Trustee may determine in good faith is necessary to comply with the provisions of Regulation AB, and (d) no amendment of this Agreement shall be required to effect any such changes in the obligations of the parties to this transaction as are necessary to accommodate evolving interpretations of the provisions of Regulation AB.
 
 
ARTICLE IV
ACCOUNTS
 
Section 4.01  Protected Accounts.
 
(a)  The Master Servicer shall enforce the obligation of the Servicer to establish and maintain a Protected Account in accordance with the Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the Servicing Agreement) of receipt, all collections of principal and interest on any Mortgage Loan and any REO Property received by the Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, and advances made from the Servicer’s own funds (less servicing compensation as permitted by the Servicing Agreement in the case of the Servicer) and all other amounts to be deposited in the Protected Account. The Servicer is hereby authorized to make withdrawals from and deposits to the related Protected Account for purposes required or permitted by this Agreement and the Servicing Agreement. To the extent provided in the Servicing Agreement, the Protected Account shall be held by a Designated Depository Institution and segregated on the books of such institution in the name of the Trustee for the benefit of Certificateholders.
 
(b)  To the extent provided in the Servicing Agreement, amounts on deposit in a Protected Account may be invested in Permitted Investments in the name of the Trustee for the benefit of Certificateholders and, except as provided in the preceding paragraph, not commingled with any other funds. Such Permitted Investments shall mature, or shall be subject to redemption or withdrawal, no later than the date on which such funds are required to be withdrawn for deposit in the Distribution Account, and shall be held until required for such deposit. The income earned from Permitted Investments made pursuant to this Section 4.01 shall be paid to the Servicer under the Servicing Agreement, and the risk of loss of moneys required to be distributed to the Certificateholders resulting from such investments shall be borne by and be the risk of the Servicer. The related Servicer (to the extent provided in the Servicing Agreement) shall deposit the amount of any such loss in the Protected Account within two Business Days of receipt of notification of such loss but not later than the second Business Day prior to the Distribution Date on which the moneys so invested are required to be distributed to the Certificateholders.
 
(c)  To the extent provided in the Servicing Agreement and subject to this Article IV, on or before the Servicer Remittance Date, the Servicer shall withdraw or shall cause to be withdrawn from its Protected Accounts and shall immediately deposit or cause to be deposited in the Master Servicer Collection Account amounts representing the following collections and payments (other than with respect to principal of or interest on the Mortgage Loans due on or before the Cut-off Date) with respect to each Loan Group:
 
(i)  Scheduled Payments on the Mortgage Loans received or any related portion thereof advanced by the Servicer pursuant to its Servicing Agreement which were due on or before the related Due Date, net of the amount thereof comprising its Servicing Fee or any fees with respect to any lender-paid primary mortgage insurance policy;
 
(ii)  Full Principal Prepayments and any Liquidation Proceeds received by the Servicer with respect to the Mortgage Loans in the related Prepayment Period, with interest to the date of prepayment or liquidation, net of the amount thereof comprising its Servicing Fee;
 
(iii)  Partial Principal Prepayments received by the Servicer for the Mortgage Loans in the related Prepayment Period; and
 
(iv)  Any amount to be used as a Monthly Advance or any Compensating Interest Payments.
 
(d)  Withdrawals may be made from an Account only to make remittances or reimbursements as provided in Section 4.01(c), 4.03, 4.04 and 4.05; to reimburse the Master Servicer or the Servicer for Monthly Advances which have been recovered by subsequent collections from the related Mortgagor; to remove amounts deposited in error; to remove fees, charges or other such amounts deposited on a temporary basis; or to clear and terminate the account at the termination of this Agreement in accordance with Section 10.01. As provided in Sections 4.01(a) and 4.03 certain amounts otherwise due to the Servicer may be retained by them and need not be deposited in the Master Servicer Collection Account.
 
Section 4.02  Master Servicer Collection Account.
 
The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Holders of the Certificates, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:
 
(i)  any amounts withdrawn from a Protected Account;
 
(ii)  any Advance and any Compensating Interest Payments;
 
(iii)  any Insurance Proceeds, Liquidation Proceeds or Subsequent Recoveries received by or on behalf of the Master Servicer which were not deposited in a Protected Account;
 
(iv)  The Purchase Price with respect to any Mortgage Loans purchased by the Seller pursuant to the Mortgage Loan Purchase Agreement or Sections 2.02 or 2.03 hereof, any amounts which are to be treated pursuant to Section 2.04 of this Agreement as the payment of a Purchase Price in connection with the tender of a Substitute Mortgage Loan by the Seller, the Purchase Price with respect to any Mortgage Loans purchased by EMC pursuant to Section 3.20, and all proceeds of any Mortgage Loans or property acquired with respect thereto repurchased by the Depositor or its designee pursuant to Section 10.01;
 
(v)  any amounts required to be deposited with respect to losses on investments of deposits in an Account; and
 
(vi)  any other amounts received by or on behalf of the Master Servicer or the Trustee and required to be deposited in the Master Servicer Collection Account pursuant to this Agreement.
 
All amounts deposited to the Master Servicer Collection Account shall be held by the Master Servicer in the name of the Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. The requirements for crediting the Master Servicer Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of (i) prepayment or late payment charges or assumption, tax service, statement account or payoff, substitution, satisfaction, release and other like fees and charges need not be credited by the Master Servicer or the Servicer to the Protected Account or the Master Servicer Collection Account, as applicable. Reconciliations will be prepared for the Master Servicing Collection Account within 45 calendar days after the bank statement cut-off date. In the event that the Master Servicer shall deposit or cause to be deposited in the Distribution Account any amount not required to be credited thereto, the Trustee, upon receipt of a written request therefor signed by a Servicing Officer of the Master Servicer, shall promptly transfer such amount to the Master Servicer, any provision herein to the contrary notwithstanding.
 
Section 4.03  Permitted Withdrawals From the Master Servicer Collection Account.
 
The Master Servicer may from time to time make withdrawals from the Master Servicer Collection Account for the following purposes:
 
(i)  to reimburse the Master Servicer or the Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer or related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made;
 
(ii)  to reimburse the Master Servicer or the Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer or the Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan;
 
(iii)  to reimburse the Master Servicer or the Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer or the Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds;
 
(iv)  to reimburse the Master Servicer or the Servicer for advances of funds pursuant to this Agreement or the Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made;
 
(v)  to reimburse the Master Servicer or the Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) through (iv);
 
(vi)  to pay the Master Servicer as set forth in Section 3.14;
 
(vii)  to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 3.03, 7.04(c) and (d) and 12.03 or otherwise reimbursable to it pursuant to this Agreement;
 
(viii)  to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Servicer;
 
(ix)  to reimburse or pay the Servicer any such amounts as are due thereto under this Agreement or the Servicing Agreement and have not been retained by or paid to the Servicer, to the extent provided herein and in the Servicing Agreement;
 
(x)  the Purchase Price with respect to any Mortgage Loans purchased by the Seller or pursuant to Sections 2.02 or 2.03, any amounts which are to be treated pursuant to Section 4.05 of this Agreement as the payment of such a Purchase Price, the Purchase Price with respect to any Mortgage Loans purchased by EMC pursuant to Section 3.20, and all proceeds of any Mortgage Loans or property acquired with respect thereto repurchased by the Seller or its designee pursuant to Section 10.01;
 
(xi)  any amounts required to be deposited with respect to losses on investments of deposits in the Master Servicer Collection Account;
 
No later than noon New York time on the Distribution Account Deposit Date for each Distribution Date, the Master Servicer shall transfer all amounts on deposit in the account with respect to the related Distribution Date, less all permitted reimbursements to the Servicer and the Master Servicer and the Servicing Fees and Lender-Paid PMI Fees for such Distribution Date, to the Trustee for deposit in the Distribution Account.
 
The Master Servicer will, from time to time on demand of the Servicer or the Trustee, make or cause to be made such withdrawals or transfers from the account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the Servicing Agreement. The Master Servicer may clear and terminate the account pursuant to Section 10.01 and remove amounts from time to time deposited in error.
 
In addition, prior to noon New York time on the Business Day prior to each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Trustee for deposit therein) any Monthly Advances required to be made by the Master Servicer with respect to the Mortgage Loans.
 
The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Master Servicer Collection Account pursuant to subclauses (i) through (iv), inclusive, and (vi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Master Servicer Collection Account.
 
Section 4.04  Distribution Account.
 
(a)  The Trustee shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Distribution Account as a segregated trust account or accounts. The Distribution Account shall be an Eligible Account. The Master Servicer or Servicer, as the case may be, will remit to the Trustee for deposit in the Distribution Account, the following amounts:
 
(b)  All amounts deposited to the Distribution Account shall be held by the Trustee in the name of the Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. The requirements for crediting the Distribution Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of (i) prepayment or late payment charges or assumption, tax service, statement account or payoff, substitution, satisfaction, release and other like fees and charges and (ii) the items enumerated in Subsections 4.05(a)(i), (ii), (iii) and (iv), need not be credited by the Master Servicer or the Servicer to the Distribution Account. In the event that the Master Servicer shall deposit or cause to be deposited to the Distribution Account any amount not required to be credited thereto, the Trustee, upon receipt of a written request therefor signed by a Servicing Officer of the Master Servicer, shall promptly transfer such amount to the Master Servicer, any provision herein to the contrary notwithstanding.
 
(c)  The Distribution Account shall constitute a trust account of the Trust Fund segregated on the books of the Trustee and held by the Trustee in trust in its Corporate Trust Office, and the Distribution Account and the funds deposited therein shall not be subject to, and shall be protected from, all claims, liens, and encumbrances of any creditors or depositors of the Trustee (whether made directly, or indirectly through a liquidator or receiver of the Trustee ). The Distribution Account shall be an Eligible Account. The amount at any time credited to the Distribution Account may be invested in the name of the Trustee, in such Permitted Investments as may be selected by the Trustee or deposited in demand deposits with such depository institutions as may be selected by the Trustee, provided that time deposits of such depository institutions would be a Permitted Investment. All Permitted Investments shall mature or be subject to redemption or withdrawal on or before, and shall be held until, the next succeeding Distribution Date if the obligor for such Permitted Investment is the Trustee or, if such obligor is any other Person, the Business Day preceding such Distribution Date. All investment earnings on amounts on deposit in the Distribution Account or benefit from funds uninvested therein from time to time shall be for the account of the Trustee. The Trustee shall be permitted to receive distribution of all investment earnings from the Distribution Account earned on funds on deposit in the Distribution Account. If there is any loss on a Permitted Investment or demand deposit, the Trustee, as paying agent, shall deposit such amount in the Distribution Account. With respect to the Distribution Account and the funds deposited therein, the Trustee shall take such action as may be necessary to ensure that the Certificateholders shall be entitled to the priorities afforded to such a trust account as provided by 12 U.S.C. § 92a(e), and applicable regulations pursuant thereto, if applicable, or any applicable comparable state statute applicable to state chartered banking corporations.
 
(d)  In addition, on the Closing Date the Depositor shall deposit $150 into the Distribution Account which shall be paid to the holders of the Class R Certificates on the first Distribution Date in accordance with Section 6.01.
 
Section 4.05  Permitted Withdrawals and Transfers from the Distribution Account.
 
(a)  The Trustee will make such withdrawals or transfers from the Distribution Account for the following purposes:
 
(i)  to reimburse the Custodian or the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement;
 
(ii)  to pay the Trustee compensation as set forth in Section 9.05;
 
(iii)  to remove amounts deposited in error;
 
(iv)  to clear and terminate the Distribution Account pursuant to Section 10.01; and
 
(b)  On each Distribution Date, the Trustee shall distribute the Available Funds to the extent on deposit in the Distribution Account for each Loan Group to the Holders of the Certificates in accordance with distribution instructions provided to it by the Trustee no later than two Business Days prior to such Distribution Date (if the Trustee and the Trustee are not the same entity) and determined by the Trustee in accordance with Section 6.01.
 
 
ARTICLE V
CERTIFICATES
 
Section 5.01  Certificates.
 
(a)  The Depository and the Issuing Entity have entered into a Depository Agreement dated as of the Closing Date (the “Depository Agreement”). Except for the Residual Certificates, the Private Certificates and the Individual Certificates and as provided in Subsection 5.01(b), the Certificates shall at all times remain registered in the name of the Depository or its nominee and at all times: (i) registration of such Certificates may not be transferred by Trustee except to a successor to the Depository; (ii) ownership and transfers of registration of such Certificates on the books of the Depository shall be governed by applicable rules established by the Depository; (iii) the Depository may collect its usual and customary fees, charges and expenses from its Depository Participants; (iv) the Trustee shall deal with the Depository as representative of such Certificate Owners of the respective Class of Certificates for purposes of exercising the rights of Certificateholders under this Agreement, and requests and directions for and votes of such representative shall not be deemed to be inconsistent if they are made with respect to different Certificate Owners; and (v) the Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its Depository Participants.
 
The Residual Certificates and the Private Certificates are initially Physical Certificates. If at any time the Holders of all of the Certificates of one or more such Classes request that the Trustee cause such Class to become Global Certificates, the Trustee and the Depositor will take such action as may be reasonably required to cause the Depository to accept such Class or Classes for trading if it may legally be so traded.
 
All transfers by Certificate Owners of such respective Classes of Book-Entry Certificates and any Global Certificates shall be made in accordance with the procedures established by the Depository Participant or brokerage firm representing such Certificate Owners. Each Depository Participant shall only transfer 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.
 
(b)  If (i)(A) the Depositor advises the Trustee in writing that the Depository is no longer willing or able to properly discharge its responsibilities as Depository and (B) the Trustee or the Depositor is unable to locate a qualified successor within 30 days or (ii) the Depositor at its option advises the Trustee in writing that it elects to terminate the book-entry system through the Depository, the Trustee, as agent of the Depositor, shall request that the Depository notify all Certificate Owners of the occurrence of any such event and of the availability of definitive, fully registered Certificates to Certificate Owners requesting the same. Upon surrender to the Trustee, as agent of the Depositor, of the Certificates by the Depository, accompanied by registration instructions from the Depository for registration, the Trustee shall issue the definitive Certificates. Neither the Depositor nor the Trustee shall be liable for any delay in delivery of any instructions required under this section and may conclusively rely on, and shall be protected in relying on, such instructions.
 
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 Fractional Undivided Interest in the related Class of Certificates. In order to make such 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 Trustee to exchange or cause the exchange of the Certificate Owner’s interest in such Class of Certificates for an equivalent Fractional Undivided Interest in fully registered definitive form. Upon receipt by the Trustee of instructions from the Depository directing the Trustee to effect such exchange (such instructions to contain information regarding the Class of Certificates and the Current Principal Amount 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 Trustee), (i) the Trustee shall instruct the Depository to reduce the related Depository Participant’s account by the aggregate Current Principal Amount of the definitive Certificate, (ii) the Trustee shall execute, authenticate and deliver, in accordance with the registration and delivery instructions provided by the Depository, a definitive Certificate evidencing such Certificate Owner’s Fractional Undivided Interest in such Class of Certificates and (iii) the Trustee shall execute and authenticate a new Book-Entry Certificate reflecting the reduction in the Current Principal Amount of such Class of Certificates by the amount of the definitive Certificates.
 
(c) (i) REMIC I will be evidenced by (x) the REMIC I Regular Interests, which will be uncertificated and non-transferable and are hereby designated as the “regular interests” in REMIC I and have the initial principal amounts and (other than REMIC I Regular Interest R-II/R-III) accrue interest at the Pass-Through Rates equal to those set forth in this Section 5.01(c)(i) and (y) the Class R-I Certificates, which are hereby designated as representing the sole class of “residual interests” in REMIC I.
 
The REMIC I Regular Interests and the Class R-I Certificates will have the following designations, initial principal amounts and Pass-Through Rates:
 
REMIC I Interest
Initial Principal Amount
Pass-Through Rate
Related Loan Group
       
I-Sub
$ 2,652.31
(1)
Loan Group I
I-Grp
$ 62,406.71
(2)
Loan Group I
II-Sub
$ 394.38
(1)
Loan Group II
II-Grp
$ 9,279.08
(3)
Loan Group II
III-Sub
$ 404.40
(1)
Loan Group III
III-Grp
$ 9,513.60
(4)
Loan Group III
R-II/R-III
$ 100.00
0.00%
N/A
ZZZ
$ 811,909,270.43
(1)
Loan Group I through Loan Group III
Class R-I
$ 50.00
0.00%
N/A
 

(1) The weighted average of the Net Rates of the Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date.
 
(2) The weighted average of the Net Rates of the Group I Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date.
 
(3) The weighted average of the Net Rates of the Group II Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date.
 
(4) The weighted average of the Net Rates of the Group III Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date.
 
Interest shall be payable to the REMIC I Regular Interests at the applicable Pass-Through Rates on the related Uncertificated Principal Balances. On the Distribution Date in May 2007, REMIC I Regular Interest R-II/R-III will be paid $100 in reduction of its Uncertificated Principal Balance from the Class R-II Deposit and the Class R-III Deposit held in the Distribution Account. Distributions of principal shall be deemed to be made from amounts received on the Mortgage Loans to the REMIC I Regular Interests (other than REMIC I Regular Interest R-II/R-III), first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation “Grp” equal to 0.01% of the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC I Regular Interest ending with the designation “Sub,” so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the aggregate Current Principal Amount of the Senior Certificates in the related Certificate Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date, first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation “Grp” equal to 0.01% of the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC I Regular Interest ending with the designation “Sub,” so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the Current Principal Amount of the Senior Certificates in the related Certificate Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be applied to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses on the Mortgage Loans shall be allocated to REMIC I Regular Interest ZZZ.
 
The aggregate amount of any Net Interest Shortfalls and interest portion of Realized Losses for any Distribution Date shall be allocated to accrued interest payable to the REMIC I Regular Interests (other than REMIC I Regular Interest R-II/R-III), pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
 
(ii) REMIC II will be evidenced by (x) the REMIC II Regular Interests, which will be uncertificated and non-transferable and are hereby designated as the “regular interests” in REMIC II and have the initial principal amounts and (other than REMIC II Regular Interest R-III) accrue interest at the Pass-Through Rates equal to those set forth in this Section 5.01(c)(ii) and (y) the Class R-II Certificates, which are hereby designated as representing the sole class of “residual interests” in REMIC II.
 
The REMIC II Regular Interests and the Class R-II Certificates will have the following designations, initial principal amounts and Pass Through Rates:
 
Designation
Initial Principal Amount
Pass-Through Rate
     
I-A-1
$ 571,021,000.00
(1)
I-A-2
$ 26,523,000.00
(1)
II-A-1
$ 84,903,000.00
(2)
II-A-2
$ 3,944,000.00
(2)
III-A-1
$ 87,049,000.00
(3)
III-A-2
$ 4,043,000.00
(3)
Class R-II
$ 50.00
0.00%
R-III
$ 50.00
0.00%
B-1
$ 17,863,000.00
(4)
B-2
$ 3,654,000.00
(4)
B-3
$ 4,872,000.00
(4)
B-4
$ 3,248,000.00
(4)
B-5
$ 1,624,000.00
(4)
B-6
$ 1,623,000.00
(4)
B-7
$ 1,626,920.91
(4)

 
(1) A variable Pass-Through Rate equal to the weighted average of the Pass-Through Rate on REMIC I Regular Interest I-Grp, weighted on the basis of the Uncertificated Principal Balance of such REMIC I Regular Interest immediately preceding the related Distribution Date.
 
(2) A variable Pass-Through Rate equal to the weighted average of the Pass-Through Rate on REMIC I Regular Interest II-Grp, weighted on the basis of the Uncertificated Principal Balance of such REMIC I Regular Interest immediately preceding the related Distribution Date.
 
(3) A variable Pass-Through Rate equal to the weighted average of the Pass-Through Rate on REMIC I Regular Interest III-Grp, weighted on the basis of the Uncertificated Principal Balance of such REMIC I Regular Interest immediately preceding the related Distribution Date.
 
(4) A variable Pass-Through Rate equal to the weighted average of the Pass-Through Rates on REMIC I Regular Interests I-Sub, II-Sub and III-Sub, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest immediately preceding the related Distribution Date, provided that for purposes of calculating such weighted average, the Pass-Through Rate of each such REMIC I Regular Interest shall be subject to a cap and a floor equal to the Pass-Through Rate of the REMIC I Regular Interest from the related Loan Group ending with the designation “Grp”.
 
Principal shall be payable to, and shortfalls, losses and prepayments are allocable to, the REMIC II Regular Interests as such amounts are payable and allocable to the Corresponding Certificates; provided that, solely for purposes of the foregoing, any shortfalls or losses allocable to the Class I-X-1 Certificates shall be deemed to be allocated entirely to the Class I-A-1 Certificates and Class I-A-2 Certificates on a pro rata basis, any shortfalls or losses allocable to the Class II-X-1 Certificates shall be deemed to be allocated entirely to the Class II-A-1 Certificates and Class II-A-2 Certificates on a pro rata basis, and any shortfalls or losses allocable to the Class III-X-1 Certificates shall be deemed to be allocated entirely to the Class III-A-1 Certificates and Class III-A-2 Certificates on a pro rata basis. Interest shall be payable to the REMIC II Regular Interests at the Pass-Through Rate for each such REMIC II Regular Interest on each such REMIC II Regular Interest’s Uncertificated Principal Balance.
 
(iii) The Classes of the Certificates shall have the following designations, initial principal amounts and Pass-Through Rates:
 
Designation
Initial Principal Amount
Pass-Through Rate
     
I-A-1
$ 571,021,000.00
(1)
I-A-2
$ 26,523,000.00
(1)
I-X-1
(3)                       
(2)
II-A-1
$ 84,903,000.00
(4)
II-A-2
$ 3,944,000.00
(4)
II-X-1
(3)                       
(5)
III-A-1
$ 87,049,000.00
(6)
III-A-2
$ 4,043,000.00 
(6)
III-X-1
(3)                       
(7)
R-I
$  50.00
(8)
R-II
$  50.00
(8)
R-III
$  50.00
(8)
B-1
$ 17,863,000.00
(9)
B-2
$ 3,654,000.00
(9)
B-3
$ 4,872,000.00
(9)
B-4
$ 3,248,000.00
(9)
B-5
$ 1,624,000.00
(9)
B-6
$ 1,623,000.00
(9)
B-7
$ 1,626,920.91
(9)

(1) On or prior to the Distribution Date in March 2012, the Class I-A-1 Certificates and Class I-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group I Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date, minus 0.245558762019% per annum. After the Distribution Date in March 2012 the Class I-A-1 Certificates and Class I-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group I Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date. During each such period, for federal income tax purposes the Class I-A-1 Certificates and Class I-A-2 Certificates will bear interest at a rate equivalent to the foregoing, calculated using the weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1 and I-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, in place of the weighted average of the Net Rates of the Group I Mortgage Loans. The Pass-Through Rate with respect to the first Interest Accrual Period is expected to be approximately 5.500% per annum.
 
(2) On or prior to the Distribution Date in March 2012, the Class I-X-1 Certificates will bear interest at a fixed Pass-Through Rate equal to 0.245558762019%  per annum on a notional balance equal to the aggregate Current Principal Amount of the Class I-A-1 Certificates and Class I-A-2 Certificates. After the Distribution Date in March 2012, the Class I-X-1 Certificates will not bear any interest. For federal income tax purposes, the Class I-X-1 Certificates will bear interest at a rate equivalent to the foregoing, expressed as (i) for any Distribution Date in or prior to March 2012, the excess, if any, of (x) the weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1 and I-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (y) the excess, if any, of (1) the weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1 and I-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (2) 0.245558762019% per annum, and (ii) for any Distribution Date after March 2012, the excess, if any, of (A) the weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1 and I-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (B) the weighted average of the Pass-Through Rates on REMIC II Regular Interests I-A-1 and I-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date.
 
(3) As described in the definition of Notional Amount herein.
 
(4) On or prior to the Distribution Date in March 2014, the Class II-A-1 Certificates and Class II-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group II Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date, minus 0.213717710569%per annum. After the Distribution Date in March 2014, the Class II-A-1 Certificates and Class II-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group II Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date. During each such period, for federal income tax purposes the Class II-A-1 Certificates and Class II-A-2 Certificates will bear interest at a rate equivalent to the foregoing, calculated using the weighted average of the Pass-Through Rates on REMIC II Regular Interests II-A-1 and II-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, in place of the weighted average of the Net Rates of the Group II Mortgage Loans. The Pass-Through Rate with respect to the first Interest Accrual Period is expected to be approximately 5.650%, per annum.
 
(5) On or prior to the Distribution Date in March 2014, the Class II-X-1 Certificates will bear interest at a fixed Pass-Through Rate equal to 0.213717710569%per annum on a notional balance equal to the aggregate Current Principal Amount of the Class II-A-1 Certificates and Class II-A-2 Certificates. After the Distribution Date in March 2014, the Class II-X-1 Certificates will not bear any interest. For federal income tax purposes, the Class II-X-1 Certificates will bear interest at a rate approximately equivalent to the foregoing, expressed as (i) for any Distribution Date in or prior to March 2014, the excess, if any, of (x) the weighted average of the Pass-Through Rates on REMIC II Regular Interests II-A-1 and II-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (y) the excess, if any, of (1) the weighted average of the Pass-Through Rates on REMIC II Regular Interests II-A-1 and II-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (2) 0.213717710569% per annum, and (ii) for any Distribution Date after March 2014, the excess, if any, of (A) the weighted average of the Pass-Through Rates on REMIC II Regular Interests II-A-1 and II-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (B) the weighted average of the Pass-Through Rates on REMIC II Regular Interests II-A-1 and II-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date.
 
(6) On or prior to the Distribution Date in March 2017 the Class III-A-1 Certificates and Class III-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group III Mortgage Loans, weighted on the basis of the respective Scheduled Principal Balances of each such Mortgage Loan as of the beginning of the Due Period immediately preceding the related Distribution Date, minus 0.011698957301% per annum. After the Distribution Date in March 2017 the Class III-A-1 Certificates and Class III-A-2 Certificates will bear interest at a variable Pass-Through Rate equal to the weighted average of the Net Rates of the Group III Mortgage Loans. During each such period, for federal income tax purposes the Class III-A-1 Certificates and Class III-A-2 Certificates will bear interest at a rate equivalent to the foregoing, calculated using the weighted average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, in place of the weighted average of the Net Rates of the Group III Mortgage Loans. The Pass-Through Rate with respect to the first Interest Accrual Period is expected to be approximately 6.00% per annum.
 
(7) On or prior to the Distribution Date in March 2017, the Class III-X-1 Certificates will bear interest at a fixed Pass-Through Rate equal to 0.011698957301% per annum on a notional balance equal to the aggregate Current Principal Amount of the Class III-A-1 Certificates and Class III-A-2 Certificates. After the Distribution Date in March 2017, the Class III-X-1 Certificates will not bear any interest. For federal income tax purposes, the Class III-X-1 Certificates will bear interest at a rate equivalent to the foregoing, expressed as (i) for any Distribution Date in or prior to March 2017, the excess, if any, of (x) the weighted average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (y) the excess, if any, of (1) the weighted average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (2) 0.011698957301% per annum, and (ii) for any Distribution Date after March 2017, the excess, if any, of (A) the weighted average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date, over (B) the weighted average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date.
 
(8) The Class R-I, Class R-II and Class R-III Certificates will not bear interest.
 
(9) The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates will each bear interest at a variable Pass-Through Rate equal to the weighted average of the weighted average of the Net Rates of the Mortgage Loans in each Loan Group, weighted in proportion to the results of subtracting from the aggregate Scheduled Principal Balance of the Mortgage Loans of each Loan Group, the aggregate Current Principal Amount of the related Class or Classes of Senior Certificates; provided that, for federal income tax purposes such Certificates will bear interest at a rate equivalent to the foregoing, expressed as the weighted average of the Pass-Through Rates on REMIC II Regular Interests B-1, B-2, B-3, B-4, B-5, B-6 and B-7, weighted on the basis of the Uncertificated Principal Balances of such REMIC II Regular Interests immediately preceding the related Distribution Date. The Pass-Through Rate with respect to the first Interest Accrual Period is expected to be approximately 5.790% per annum.
 
(d)  For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date in the Trust Fund has been designated as the “latest possible maturity date” for the REMIC I Regular Interests, the REMIC II Regular Interests and the Certificates (other than the Class R Certificates).
 
(e)  With respect to each Distribution Date, each Class of Certificates shall accrue interest during the related Interest Accrual Period. With respect to each Distribution Date and each such Class of Certificates, interest shall be calculated, on the basis of a 360-day year comprised of twelve 30-day months, based upon the respective Pass-Through Rate set forth, or determined as provided, above and the Current Principal Amount (or Notional Amount in the case of the Interest Only Certificates) of such Class applicable to such Distribution Date.
 
(f)  The Certificates shall be substantially in the forms set forth in Exhibits A-1, A-2 and A-3. On original issuance, the Trustee shall sign, countersign and shall deliver them at the direction of the Depositor.
 
(g)  Each Class of Book-Entry Certificates will be registered as a single Certificate of such Class held by a nominee of the Depository or the DTC Custodian, and beneficial interests will be held by investors through the book-entry facilities of the Depository in minimum denominations of, in the case of the Offered Certificates (other than the Residual Certificates), $100,000 and in each case increments of $1.00 in excess thereof, except that one Certificate of each such Class may be issued in a different amount so that the sum of the denominations of all outstanding Certificates of such Class shall equal the Current Principal Amount of such Class on the Closing Date. On the Closing Date, the Trustee shall execute and countersign Physical Certificates all in an aggregate principal amount that shall equal the Current Principal Amount of such Class on the Closing Date. The Private Certificates shall be issued in certificated fully-registered form in minimum dollar denominations of $100,000 and integral multiples of $1.00 in excess thereof, except that one Private Certificate of each Class may be issued in a different amount so that the sum of the denominations of all outstanding Private Certificates of such Class shall equal the Current Principal Amount of such Class on the Closing Date. The Residual Certificates shall each be issued in certificated fully-registered form, each, in the denomination of $50. Each Class of Global Certificates, if any, shall be issued in fully registered form in minimum dollar denominations of $100,000 and integral multiples of $1.00 in excess thereof, except that one Certificate of each Class may be in a different denomination so that the sum of the denominations of all outstanding Certificates of such Class shall equal the Current Principal Amount of such Class on the Closing Date. On the Closing Date, the Trustee shall execute and countersign (i) in the case of each Class of Offered Certificates, the Certificate in the entire Current Principal Amount of the respective Class and (ii) in the case of each Class of Private Certificates, Individual Certificates all in an aggregate principal amount that shall equal the Current Principal Amount of each such respective Class on the Closing Date. The Certificates referred to in clause (i) and if at any time there are to be Global Certificates, the Global Certificates shall be delivered by the Depositor to the Depository or pursuant to the Depository’s instructions, shall be delivered by the Depositor on behalf of the Depository to and deposited with the DTC Custodian. The Trustee shall sign the Certificates by facsimile or manual signature and countersign them by manual signature by one or more authorized signatories, each of whom shall be Responsible Officers of the Trustee or its agent.
 
(h)  No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless there appears on such Certificate the manually executed countersignature of the Trustee or its agent, and such countersignature upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly executed and delivered hereunder. All Certificates issued on the Closing Date shall be dated the Closing Date. All Certificates issued thereafter shall be dated the date of their countersignature.
 
(i)  The Closing Date is hereby designated as the “startup” day of each REMIC within the meaning of Section 860G(a)(9) of the Code.
 
(j)  For federal income tax purposes, each REMIC shall have a tax year that is a calendar year and shall report income on an accrual basis.
 
(k)  The Trustee shall cause each REMIC to timely elect to be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of any Trust established hereby shall be resolved in a manner that preserves the validity of such elections.
 
(l)  The following legend shall be placed on the Residual Certificates, whether upon original issuance or upon issuance of any other Certificate of any such Class in exchange therefor or upon transfer thereof:
 
THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED TRANSFEREE PROVIDES THE TRUSTEE WITH AN OPINION OF COUNSEL ADDRESSED TO THE DEPOSITOR, MASTER SERVICER AND TRUSTEE AND ON WHICH THEY MAY RELY THAT IS SATISFACTORY TO THE TRUSTEE THAT THE PURCHASE OF CERTIFICATES ON BEHALF OF SUCH PERSON WILL NOT RESULT IN OR CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION, IS PERMISSIBLE UNDER APPLICABLE LAW AND WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE.
 
The following legend shall be placed upon the Private Certificates, whether upon original issuance or upon issuance of any other Certificate of any such Class in exchange therefor or upon transfer thereof:
 
THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE, WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS THE OPINION SPECIFIED IN SECTION 5.07 OF THE AGREEMENT IS PROVIDED.
 
Section 5.02  Registration of Transfer and Exchange of Certificates.
 
(a)  The Trustee shall maintain at its Corporate Trust Office 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.
 
(b)  Subject to Subsection 5.01(a) and, in the case of any Global Certificate or Physical Certificate upon the satisfaction of the conditions set forth below, upon surrender for registration of transfer of any Certificate at any office or agency of the Trustee maintained for such purpose, the Trustee shall sign, countersign and shall deliver, in the name of the designated transferee or transferees, a new Certificate of a like Class and aggregate Fractional Undivided Interest, but bearing a different number.
 
(c)  By acceptance of an Individual Certificate, whether upon original issuance or subsequent transfer, each holder of such a Certificate acknowledges the restrictions on the transfer of such Certificate set forth in the Securities Legend and agrees that it will transfer such a Certificate only as provided herein. In addition to the provisions of Subsection 5.02(h), the following restrictions shall apply with respect to the transfer and registration of transfer of an Individual Certificate to a transferee that takes delivery in the form of an Individual Certificate:
 
(i)  The Trustee shall register the transfer of an Individual Certificate if the requested transfer is being made to a transferee who has provided the Trustee with a Rule 144A Certificate or comparable evidence as to its QIB status.
 
(ii)  The Trustee shall register the transfer of any Individual Certificate if (x) the transferor has advised the Trustee in writing that the Certificate is being transferred to an Institutional Accredited Investor; and (y) prior to the transfer the transferee furnishes to the Trustee an Investment Letter (and the Trustee shall be fully protected in so doing), provided that, if based upon an Opinion of Counsel addressed to the Trustee to the effect that the delivery of (x) and (y) above are not sufficient to confirm that the proposed transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable laws, the Trustee shall as a condition of the registration of any such transfer require the transferor to furnish such other certifications, legal opinions or other information prior to registering the transfer of an Individual Certificate as shall be set forth in such Opinion of Counsel.
 
(d)  Subject to Subsection 5.02(h), so long as a Global Certificate of such Class is outstanding and is held by or on behalf of the Depository, transfers of beneficial interests in such Global Certificate, or transfers by holders of Individual Certificates of such Class to transferees that take delivery in the form of beneficial interests in the Global Certificate, may be made only in accordance with this Subsection 5.02(d) and in accordance with the rules of the Depository:
 
(i)  In the case of a beneficial interest in the Global Certificate being transferred to an Institutional Accredited Investor, such transferee shall be required to take delivery in the form of an Individual Certificate or Certificates and the Trustee shall register such transfer only upon compliance with the provisions of Subsection 5.02(c)(ii).
 
(ii)  In the case of a beneficial interest in a Class of Global Certificates being transferred to a transferee that takes delivery in the form of an Individual Certificate or Certificates of such Class, except as set forth in clause (i) above, the Trustee shall register such transfer only upon compliance with the provisions of Subsection 5.02(c)(i).
 
(iii)  In the case of an Individual Certificate of a Class being transferred to a transferee that takes delivery in the form of a beneficial interest in a Global Certificate of such Class, the Trustee shall register such transfer if the transferee has provided the Trustee with a Rule 144A Certificate or comparable evidence as to its QIB status.
 
(iv)  No restrictions shall apply with respect to the transfer or registration of transfer of a beneficial interest in the Global Certificate of a Class to a transferee that takes delivery in the form of a beneficial interest in the Global Certificate of such Class; provided that each such transferee shall be deemed to have made such representations and warranties contained in the Rule 144A Certificate as are sufficient to establish that it is a QIB.
 
(e)  Subject to Subsection 5.02(h), an exchange of a beneficial interest in a Global Certificate of a Class for an Individual Certificate or Certificates of such Class, an exchange of an Individual Certificate or Certificates of a Class for a beneficial interest in the Global Certificate of such Class and an exchange of an Individual Certificate or Certificates of a Class for another Individual Certificate or Certificates of such Class (in each case, whether or not such exchange is made in anticipation of subsequent transfer, and, in the case of the Global Certificate of such Class, so long as such Certificate is outstanding and is held by or on behalf of the Depository) may be made only in accordance with this Subsection 5.02(e) and in accordance with the rules of the Depository:
 
(i)  A holder of a beneficial interest in a Global Certificate of a Class may at any time exchange such beneficial interest for an Individual Certificate or Certificates of such Class.
 
(ii)  A holder of an Individual Certificate or Certificates of a Class may exchange such Certificate or Certificates for a beneficial interest in the Global Certificate of such Class if such holder furnishes to the Trustee a Rule 144A Certificate or comparable evidence as to its QIB status.
 
(iii)  A holder of an Individual Certificate of a Class may exchange such Certificate for an equal aggregate principal amount of Individual Certificates of such Class in different authorized denominations without any certification.
 
(f)  (i)Upon acceptance for exchange or transfer of an Individual Certificate of a Class for a beneficial interest in a Global Certificate of such Class as provided herein, the Trustee shall cancel such Individual Certificate and shall (or shall request the Depository to) endorse on the schedule affixed to the applicable Global Certificate (or on a continuation of such schedule affixed to the Global Certificate and made a part thereof) or otherwise make in its books and records an appropriate notation evidencing the date of such exchange or transfer and an increase in the certificate balance of the Global Certificate equal to the certificate balance of such Individual Certificate exchanged or transferred therefor.
 
(ii)  Upon acceptance for exchange or transfer of a beneficial interest in a Global Certificate of a Class for an Individual Certificate of such Class as provided herein, the Trustee shall (or shall request the Depository to) endorse on the schedule affixed to such Global Certificate (or on a continuation of such schedule affixed to such Global Certificate and made a part thereof) or otherwise make in its books and records an appropriate notation evidencing the date of such exchange or transfer and a decrease in the certificate balance of such Global Certificate equal to the certificate balance of such Individual Certificate issued in exchange therefor or upon transfer thereof.
 
(g)  The Securities Legend shall be placed on any Individual Certificate issued in exchange for or upon transfer of another Individual Certificate or of a beneficial interest in a Global Certificate.
 
(h)  Subject to the restrictions on transfer and exchange set forth in this Section 5.02, the holder of any Individual Certificate may transfer or exchange the same in whole or in part (in an initial certificate balance equal to the minimum authorized denomination set forth in Section 5.01(g) above or any integral multiple of $1.00 in excess thereof) by surrendering such Certificate at the Trustee Office, or at the office of any transfer agent, together with an executed instrument of assignment and transfer satisfactory in form and substance to the Trustee in the case of transfer and a written request for exchange in the case of exchange. The holder of a beneficial interest in a Global Certificate may, subject to the rules and procedures of the Depository, cause the Depository (or its nominee) to notify the Trustee in writing of a request for transfer or exchange of such beneficial interest for an Individual Certificate or Certificates. Following a proper request for transfer or exchange, the Trustee shall, within five Business Days of such request made at the Corporate Trust Office, sign, countersign and deliver at the Corporate Trust Office, to the transferee (in the case of transfer) or holder (in the case of exchange) or send by first class mail at the risk of the transferee (in the case of transfer) or holder (in the case of exchange) to such address as the transferee or holder, as applicable, may request, an Individual Certificate or Certificates, as the case may require, for a like aggregate Fractional Undivided Interest and in such authorized denomination or denominations as may be requested. The presentation for transfer or exchange of any Individual Certificate shall not be valid unless made at the Corporate Trust Office by the registered holder in person, or by a duly authorized attorney-in-fact.
 
(i)  At the option of the Certificateholders, Certificates may be exchanged for other Certificates of authorized denominations of a like Class and aggregate Fractional Undivided Interest, upon surrender of the Certificates to be exchanged at the Corporate Trust Office; provided, however, that no Certificate may be exchanged for new Certificates unless the original Fractional Undivided Interest represented by each such new Certificate (i) is at least equal to the minimum authorized denomination or (ii) is acceptable to the Depositor as indicated to the Trustee in writing. Whenever any Certificates are so surrendered for exchange, the Trustee shall sign, countersign and deliver the Certificates which the Certificateholder making the exchange is entitled to receive.
 
(j)  If the Trustee so requires, every Certificate presented or surrendered for transfer or exchange shall be duly endorsed by, or be accompanied by a written instrument of transfer, with a signature guarantee, in form satisfactory to the Trustee, duly executed by the holder thereof or his or her attorney duly authorized in writing.
 
(k)  No service charge shall be made for any transfer or exchange of Certificates, 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.
 
(l)  The Trustee shall cancel all Certificates surrendered for transfer or exchange but shall retain such Certificates in accordance with its standard retention policy or for such further time as is required by the record retention requirements of the Securities Exchange Act of 1934, as amended, and thereafter may destroy such Certificates.
 
Section 5.03  Mutilated, Destroyed, Lost or Stolen Certificates.
 
(a)  If (i) any mutilated Certificate is surrendered to the Trustee, or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the Trustee such security or indemnity as it may require to save it harmless, and (iii) the Trustee has not received notice that such Certificate has been acquired by a third Person, the Trustee shall sign, countersign and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like tenor and Fractional Undivided Interest but in each case bearing a different number. The mutilated, destroyed, lost or stolen Certificate shall thereupon be canceled of record by the Trustee and shall be of no further effect and evidence no rights.
 
(b)  Upon the issuance of any new Certificate under this Section 5.03, 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 ) connected therewith. Any duplicate Certificate issued pursuant to this Section 5.03 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 Depositor or the Trustee and any agent of the Depositor or the Trustee 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 6.01 and for all other purposes whatsoever. Neither the Depositor, the Trustee nor any agent of the Depositor or the Trustee shall be affected by notice to the contrary. No Certificate shall be deemed duly presented for a transfer effective on any Record Date unless the Certificate to be transferred is presented no later than the close of business on the third Business Day preceding such Record Date.
 
Section 5.05  Transfer Restrictions on Residual Certificates.
 
(a)  No transfer, sale or other disposition of a Residual Certificate (including a beneficial interest therein) may be made unless, prior to the transfer, sale or other disposition of a Residual Certificate, (1) the proposed transferee (including the initial purchasers thereof) delivers to the Trustee and the Depositor an affidavit and agreement in the form attached hereto as Exhibit E-1 stating, among other things, that as of the date of such transfer such transferee is a Permitted Transferee and a United States Person and that such transferee is not acquiring such Residual Certificate for the account of any Person who is not a Permitted Transferee or a United States Person (a “Transferee Affidavit”), and (2) the proposed transferor delivers to the Trustee and the Depositor an affidavit in the form attached hereto as Exhibit E-2 to the effect that it has no knowledge that the statements made by the proposed transferee in any such Transferee Affidavit are false (a “Transferor Affidavit”). The Tax Matters Person shall not consent to a transfer of a Residual Certificate if it has actual knowledge that any statement made in the Transferee Affidavit or Transferor Affidavit issued pursuant to the preceding sentence is not true. Notwithstanding any transfer, sale or other disposition of a Residual Certificate to any Person who is not a Permitted Transferee, such transfer, sale or other disposition shall be deemed to be of no legal force or effect whatsoever and such Person shall not be deemed to be a Holder of a Residual Certificate for any purpose hereunder, including, but not limited to, the receipt of distributions thereon. If any purported transfer shall be in violation of the provisions of this Subsection 5.05(a), then the prior Holder thereof shall, upon discovery that the transfer of such Residual Certificate was not in fact permitted by this Subsection 5.05(a), be restored to all rights as a Holder thereof retroactive to the date of the purported transfer. None of the Trustee or the Depositor shall be under any liability to any Person for any registration or transfer of a Residual Certificate that is not permitted by this Subsection 5.05(a) or for making payments due on such Residual Certificate to the purported Holder thereof or taking any other action with respect to such purported Holder under the provisions of this Agreement so long as the related Transferee Affidavit and Transferor Affidavit referred to above were received with respect to such transfer, and the Trustee and the Depositor, as applicable, had no knowledge that they were untrue. The prior Holder shall be entitled to recover from any purported Holder of a Residual Certificate that was in fact not a permitted transferee under this Subsection 5.05(a) at the time it became a Holder all payments made on such Residual Certificate. Each Holder of a Residual Certificate, by acceptance thereof, shall be deemed for all purposes to have consented to the provisions of this Section 5.05 and to any amendment of this Agreement deemed necessary (whether as a result of new legislation or otherwise) by counsel of the Tax Matters Person, the Trustee or the Depositor to ensure that the Residual Certificates are not transferred to any Person who is not a Permitted Transferee or a United States Person and that any transfer of such Residual Certificates will not cause the imposition of a tax upon the Trust or cause any REMIC to fail to qualify as a REMIC.
 
(b)  The Residual Certificates (including a beneficial interest therein) may not be purchased by or transferred to any Person who is not a United States Person.
 
(c)  By accepting a Residual Certificate, the purchaser thereof agrees to be a Tax Matters Person, and appoints the Trustee to act as its agent with respect to all matters concerning the tax obligations of the Trust.
 
Section 5.06  Restrictions on Transferability of Certificates.
 
(a)  No offer, sale, transfer or other disposition (including pledge) of any Certificate shall be made by any Holder thereof unless registered under the Securities Act, or an exemption from the registration requirements of the Securities Act and any applicable state securities or “Blue Sky” laws is available and the prospective transferee (other than the Depositor) of such Certificate signs and delivers to the Trustee an Investment Letter, if the transferee is an Institutional Accredited Investor, in the form set forth as Exhibit F-l hereto, or a Rule 144A Certificate, if the transferee is a QIB, in the form set forth as Exhibit F-2 hereto. Notwithstanding the provisions of the immediately preceding sentence, no restrictions shall apply with respect to the transfer or registration of transfer of a beneficial interest in any Certificate that is a Global Certificate of a Class to a transferee that takes delivery in the form of a beneficial interest in the Global Certificate of such Class provided that each such transferee shall be deemed to have made such representations and warranties contained in the Rule 144A Certificate as are sufficient to establish that it is a QIB. In the case of a proposed transfer of any Certificate to a transferee other than a QIB, the Trustee may require an Opinion of Counsel addressed to the Trustee that such transaction is exempt from the registration requirements of the Securities Act. The cost of such opinion shall not be an expense of the Trustee or the Trust Fund.
 
(b)  The Private Certificates shall each bear a Securities Legend.
 
Section 5.07  ERISA Restrictions.
 
(a)  Subject to the provisions of subsection (b), no Residual Certificates or Private Certificates may be acquired directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of ERISA or Section 4975 of the Code, unless the proposed transferee provides either (i) the Trustee, with an Opinion of Counsel addressed to the Depositor, the Master Servicer and the Trustee (upon which they may rely) which is satisfactory to the Trustee, which opinion will not be at the expense of the Depositor, the Master Servicer or the Trustee, that the purchase of such Certificates by or on behalf of such Plan is permissible under applicable law, will not constitute or result in a nonexempt prohibited transaction under ERISA or Section 4975 of the Code and will not subject the Depositor, the Master Servicer or the Trustee to any obligation in addition to those undertaken in the Agreement or (ii) in the case of the Private Certificates, a representation or certification to the Trustee (upon which the Trustee is authorized to rely) to the effect that the proposed transfer and holding of such a Certificate and the servicing, management and operation of the Trust: (I) will not result in a prohibited transaction under Section 406 of ERISA or Section 4975 of the Code which is not covered under an individual or class prohibited transaction exemption including but not limited to Department of Labor Prohibited Transaction Class Exemption (“PTCE”) 84-14 (Class Exemption for Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers); PTCE 91-38 (Class Exemption for Certain Transactions Involving Bank Collective Investment Funds); PTCE 90-1 (Class Exemption for Certain Transactions Involving Insurance Company Pooled Separate Accounts), PTCE 95-60 (Class Exemption for Certain Transactions Involving Insurance Company General Accounts), and PTCE 96-23 (Class Exemption for Plan Asset Transactions Determined by In-House Asset Managers and (II) will not subject the Depositor, the Trustee, the Master Servicer or the Trustee to any obligation in addition to those undertaken in the Agreement.
 
(b)  Any Person acquiring an interest in a Global Certificate which is a Private Certificate, by acquisition of such Certificate, shall be deemed to have represented to the Trustee that either: (i) it is not acquiring an interest in such Certificate directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of ERISA or Section 4975 of the Code, or (ii) the transfer and holding of an interest in such Certificate to that Person and the subsequent servicing, management and operation of the Trust and its assets: (I) will not result in any prohibited transaction which is not covered under an individual or class prohibited transaction exemption, including, but not limited to, PTCE 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 or PTCE 96-23 and (II) will not subject the Depositor, the Trustee, the Master Servicer or the Trustee to any obligation in addition to those undertaken in the Agreement.
 
(c)  Each beneficial owner of a Class B-1, Class B-2, Class B-3 or Class B-4 Certificate or any interest therein shall be deemed to have represented, by virtue of its acquisition or holding of that certificate or interest therein, that either (i) it is not a Plan or investing with “Plan Assets” within the meaning of Department of Labor Regulation 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISA, (ii) it has acquired and is holding such certificate in reliance on Prohibited Transaction Exemption 90-30, as amended from time to time (the “Exemption”), and that it understands that there are certain conditions to the availability of the Exemption, including that the certificate must be rated, at the time of purchase, not lower than “BBB-” (or its equivalent) by S&P or Fitch, and the certificate is so rated or (iii) (1) it is an insurance company, (2) the source of funds used to acquire or hold the certificate or interest therein is an “insurance company general account,” as such term is defined in Prohibited Transaction Class Exemption (“PTCE”) 95-60, and (3) the conditions in Sections I and III of PTCE 95-60 have been satisfied.
 
(d)  Neither the Master Servicer nor the Trustee will be required to monitor, determine or inquire as to compliance with the transfer restrictions with respect to the Global Certificates. Any attempted or purported transfer of any Certificate in violation of the provisions of Subsections (a) or (b) above shall be void ab initio and such Certificate shall be considered to have been held continuously by the prior permitted Certificateholder. Any transferor of any Certificate in violation of such provisions, shall indemnify and hold harmless the Trustee and the Master Servicer from and against any and all liabilities, claims, costs or expenses incurred by the Trustee or the Master Servicer as a result of such attempted or purported transfer. The Trustee shall not be liable for transfer of any such Global Certificates in or through book-entry facilities of any Depository or between or among Depository Participants or Certificate Owners made in violation of the transfer restrictions set forth herein.
 
Section 5.08  Rule 144A Information.
 
For so long as any Certificates are outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) of the Securities Act, (1) the Depositor will provide or cause to be provided to any holder of such Certificates and any prospective purchaser thereof designated by such a holder, upon the request of such holder or prospective purchaser, the information required to be provided to such holder or prospective purchaser by Rule 144A(d)(4) under the Securities Act; and (2) the Depositor shall update such information from time to time in order to prevent such information from becoming false and misleading and will take such other actions as are necessary to ensure that the safe harbor exemption from the registration requirements of the Securities Act under Rule 144A is and will be available for resales of such Certificates conducted in accordance with Rule 144A.
 

 
ARTICLE VI
PAYMENTS TO CERTIFICATEHOLDERS
 
Section 6.01  Distributions on the Certificates.
 
(a)  Interest and principal (as applicable) on the Certificates (other than the Residual Certificates) will be distributed monthly on each Distribution Date, commencing in May 2007, in an amount equal to the Available Funds on deposit in the Distribution Account for such Distribution Date.  In addition, on the Distribution Date occurring in May 2007, the Class R-I Deposit will be distributed to the Holders of the Class R-I Certificates, the Class R-II Deposit will be distributed to the Holders of the Class R-II Certificates and the Class R-III Deposit will be distributed to the Holders of the Class R-III Certificates. On each Distribution Date, the Available Funds on deposit in the Distribution Account shall be distributed as follows:
 
(i)  on each Distribution Date, the Group I Available Funds will be distributed to the Group I Senior Certificates as follows:
 
first, to the Class I-A-1, Class I-A-2 and Class I-X-1 Certificates, on a pro rata basis, the Accrued Certificate Interest on such Classes for such Distribution Date. As described below, accrued interest on the Class I-A-1, Class I-A-2 and Class I-X-1 Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto;
 
second, to the Class I-A-1, Class I-A-2 and Class I-X-1 Certificates, on a pro rata basis, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group I Available Funds; and
 
third, to the Class I-A-1 Certificates and Class I-A-2 Certificates, on a pro rata basis, in reduction of the Current Principal Amount thereof, the Group I Senior Optimal Principal Amount for such Distribution Date to the extent of remaining Group I Available Funds, until the Current Principal Amounts of such Classes have been reduced to zero.
 
(ii)  on each Distribution Date, the Group II Available Funds will be distributed to the Group II Senior Certificates as follows:
 
first, to the Class II-A-1, Class II-A-2, Class II-X-1 Certificates, on a pro rata basis, the Accrued Certificate Interest on such Class for such Distribution Date. As described below, accrued interest on the Class II-A-1, Class II-A-2, Class II-X-1 Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto;
 
second, to the Class II-A-1, Class II-A-2, Class II-X-1 Certificates, on a pro rata basis, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group II Available Funds; and
 
third, to the Class II-A-1 Certificates and Class II-A-2 Certificates, on a pro rata basis, in reduction of the Current Principal Amounts thereof, the Group II Senior Optimal Principal Amount for such Distribution Date to the extent of remaining Group II Available Funds, until the Current Principal Amounts of such Classes have been reduced to zero.
 
(iii)  on each Distribution Date, the Group III Available Funds will be distributed to the Group III Senior Certificates as follows:
 
first, to the Class III-A-1, Class III-A-2 and Class III-X-1 Certificates, on a pro rata basis, the Accrued Certificate Interest on such Class for such Distribution Date. As described below, accrued interest on the Class III-A-1, Class III-A-2 and Class III-X-1 Certificates is subject to reduction in the event of certain Net Interest Shortfalls allocable thereto;
 
second, to the Class III-A-1, Class III-A-2 and Class III-X-1 Certificates, on a pro rata basis, any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group III Available Funds; and
 
third, to the Class III-A-1 Certificates and Class III-A-2 Certificates on a pro rata basis, in reduction of the Current Principal Amount thereof, the Group III Senior Optimal Principal Amount for such Distribution Date to the extent of remaining Group III Available Funds, until the Current Principal Amounts of such Classes have been reduced to zero.
 
(iv)  Except as provided in clauses (v) and (vi) below, on each Distribution Date on or prior to the Cross-Over Date, an amount equal to the sum of any remaining Group I, Group II and Group III Available Funds after the distributions in clauses (i), (ii) and (iii) above will be distributed sequentially, in the following order, to the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates, in each case up to an amount equal to and in the following order: (A) the Accrued Certificate Interest thereon for such Distribution Date, (B) any Accrued Certificate Interest thereon remaining undistributed from previous Distribution Dates and (C) such Class’s Allocable Share for such Distribution Date, in each case, to the extent of remaining Group I, Group II and Group III Available Funds.
 
(v)  On each Distribution Date prior to the Cross-Over Date but after the reduction of the Current Principal Amount of all of the Senior Certificates of a Certificate Group to zero, the remaining Class or Classes of Senior Certificates in the remaining Certificate Groups will be entitled to receive in reduction of their Current Principal Amounts, pro rata based upon their Current Principal Amounts immediately prior to such Distribution Date, in addition to any Principal Prepayments related to such remaining Senior Certificates’ respective Loan Group allocated to such Senior Certificates, 100% of the Principal Prepayments on any Mortgage Loan in the Loan Group relating to the Class or Classes of Senior Certificates of the fully repaid Certificate Group; provided, however, that if (A) the weighted average of the Subordinate Percentages on such Distribution Date equals or exceeds two times the initial weighted average of the Subordinate Percentages and (B) the aggregate Scheduled Principal Balance of the Mortgage Loans Delinquent 60 days or more (including for this purpose any such Mortgage Loans in foreclosure and bankruptcy and Mortgage Loans with respect to which the related Mortgaged Property has been acquired by the Trust), averaged over the last six months, as a percentage of the aggregate Current Principal Amount of the Subordinate Certificates does not exceed 50%, then the additional allocation of Principal Prepayments to the Senior Certificates in accordance with this clause (vi) will not be made and 100% of the Principal Prepayments on any Mortgage Loan in the Loan Group relating to the fully repaid Class or Classes of Senior Certificates will be allocated to the Subordinate Certificates.
 
(vi)  If on any Distribution Date on which the aggregate Current Principal Amount of the Group I, Group II or Group III Senior Certificates would be greater than the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group and any Subordinate Certificates are still outstanding, in each case after giving effect to distributions to be made on such Distribution Date, (A) 100% of amounts otherwise allocable to the Subordinate Certificates in respect of principal will be distributed to the Group I, Group II or Group III Senior Certificates in reduction of the Current Principal Amounts thereof, until the aggregate Current Principal Amount of such Class or Classes of Senior Certificates is an amount equal to the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group, and (B) the Accrued Certificate Interest otherwise allocable to the Subordinate Certificates on such Distribution Date will be reduced, if necessary, and distributed to such Class or Classes of Senior Certificates in an amount equal to the Accrued Certificate Interest for such Distribution Date on the excess of (x) the aggregate Current Principal Amount of such Class or Classes of Senior Certificates over (y) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Loan Group. Any such reduction in the Accrued Certificate Interest on the Subordinate Certificates will be allocated in reverse order of the Subordinate Certificates numerical designations, commencing with the Class B-6 Certificates.
 
(b)  If, after distributions have been made pursuant to priorities first and second of clauses (a)(i), (ii) and (iii) above on any Distribution Date, the remaining Group I, Group II or Group III Available Funds are less than the Group I, Group II and Group III Senior Optimal Principal Amounts, respectively, the Senior Optimal Principal Amount for such Loan Group shall be reduced, and such remaining Available Funds will be distributed on the related Senior Certificates, on a pro rata basis, on the basis of such reduced amount.
 
(c)  On each Distribution Date, any Available Funds remaining after payment of interest and principal to the Classes of Certificates entitled thereto, as described above, will be distributed to the Class R-III Certificates; provided that if on any Distribution Date there are any Group I, Group II and Group III Available Funds remaining after payment of interest and principal to a Class or Classes of Certificates entitled thereto, such amounts will be distributed to the other Classes of Senior Certificates, pro rata, based upon their Current Principal Amounts, until all amounts due to all Classes of Senior Certificates have been paid in full, before any amounts are distributed to the Class R-III Certificates.
 
(d)  For any Distribution Date, “pro rata” distributions among Classes of Certificates in respect of Accrued Certificate Interest or unpaid Accrued Certificate Interest will be made in proportion to the amount of Accrued Certificate Interest or unpaid Accrued Certificate Interest, respectively, due on such Classes for such Distribution Date. For any Distribution Date, “pro rata” distributions among Classes of Certificates in respect of principal will be made in proportion to the Current Principal Amount of such Classes immediately prior to such Distribution Date.
 
(e)  No Accrued Certificate Interest will be payable with respect to any Class of Certificates after the Distribution Date on which the Current Principal Amount of such Certificate has been reduced to zero.
 
(f)  If on any Distribution Date the Available Funds for the Senior Certificates in any Certificate Group is less than the Accrued Certificate Interest on the related Senior Certificates for such Distribution Date prior to reduction for Net Interest Shortfalls and the interest portion of Realized Losses, the shortfall will be allocated among the holders of each Class of Senior Certificates in such Certificate Group in proportion to the respective amounts of Accrued Certificate Interest that would have been allocated thereto in the absence of such Net Interest Shortfalls and/or Realized Losses for such Distribution Date. In addition, the amount of any interest shortfalls will constitute unpaid Accrued Certificate Interest and will be distributable to holders of the Certificates of the related Classes entitled to such amounts on subsequent Distribution Dates, to the extent of the applicable Available Funds after current interest distributions as required herein. Any such amounts so carried forward will not bear interest. Shortfalls in interest payments will not be offset by a reduction in the servicing compensation of the Master Servicer or otherwise, except to the extent of applicable Compensating Interest Payments.
 
(g)  The expenses and fees of the Trust shall be paid by each of the REMICs, to the extent that such expenses relate to the assets of each of such respective REMICs, and all other expenses and fees of the Trust shall be paid pro rata by each of the REMICs.
 
Section 6.02  Allocation of Losses.
 
(a)  On or prior to each Determination Date, the Master Servicer shall determine the amount of any Realized Loss in respect of each Mortgage Loan that occurred during the immediately preceding calendar month, based on information provided by the Servicer.
 
(b)  With respect to any Certificates on any Distribution Date, the principal portion of each Realized Loss on a Mortgage Loan shall be allocated as follows:
 
first, to the Class B-7 Certificates until the Current Principal Amount thereof has been reduced to zero;
 
second, to the Class B-6 Certificates until the Current Principal Amount thereof has been reduced to zero;
 
third, to the Class B-5 Certificates until the Current Principal Amount thereof has been reduced to zero;
 
fourth, to the Class B-4 Certificates until the Current Principal Amount thereof has been reduced to zero;
 
fifth, to the Class B-3 Certificates until the Current Principal Amount thereof has been reduced to zero;
 
sixth, to the Class B-2 Certificates until the Current Principal Amount thereof has been reduced to zero; 
 
seventh, to the Class B-1 Certificates until the Current Principal Amount thereof has been reduced to zero; and
 
eighth, if such loss is on (a) a Group I Mortgage Loan, to the Class I-A-1 Certificates and Class I-A-2 Certificates until the Current Principal Amount thereof has been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class I-A-1 Certificates will be allocated to the Class I-A-2 Certificates, until the Current Principal Amount of the Class I-A-2 Certificates has been reduced to zero, and then to the Class I-A-1 Certificates; (b) a Group II Mortgage Loan, to the Class II-A-1 Certificates and Class II-A-2 Certificates, until the Current Principal Amount thereof has been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class II-A-1 Certificates will be allocated to the Class II-A-2 Certificates, until the Current Principal Amount of the Class II-A-2 Certificates has been reduced to zero, and then to the Class II-A-1 Certificates; and (c) a Group III Mortgage Loan, to the Class III-A-1 Certificates and Class III-A-2 Certificates until the Current Principal Amount thereof has been reduced to zero; provided, however, any such Realized Losses otherwise allocable to the Class III-A-1 Certificates will be allocated to the Class III-A-2 Certificates, until the Current Principal Amount of the Class III-A-2 Certificates has been reduced to zero, and then to the Class III-A-1 Certificates.
 
(c)  Notwithstanding the foregoing clause (b), no such allocation of any Realized Loss shall be made on a Distribution Date to any Class of Certificates to the extent that such allocation would result in the reduction of the aggregate Current Principal Amount of all the Certificates (other than the Class R Certificates) as of such Distribution Date, after giving effect to all distributions and prior allocations of Realized Losses on the Mortgage Loans on such date, to an amount less than the aggregate Scheduled Principal Balance of all of the Mortgage Loans as of the first day of the month of such Distribution Date (such limitation, the “Loss Allocation Limitation”).
 
(d)  Any Realized Losses allocated to a Class of Certificates shall be allocated among the Certificates of such Class in proportion to their respective Current Principal Amounts. Any allocation of Realized Losses shall be accomplished by reducing the Current Principal Amount of the related Certificates on the related Distribution Date.
 
(e)  Realized Losses shall be allocated on the Distribution Date in the month following the month in which such loss was incurred and, in the case of the principal portion thereof, after giving effect to distributions made on such Distribution Date.
 
(f)  On each Distribution Date, the Trustee shall determine and notify the Trustee of the Subordinate Certificate Writedown Amount. Any Subordinate Certificate Writedown Amount shall effect a corresponding reduction in the Current Principal Amount of (i) if prior to the Cross-Over Date, the Current Principal Amounts of the Subordinate Certificates, in the reverse order of their numerical Class designations and (ii) from and after the Cross-Over Date, the Senior Certificates, in accordance with priorities set forth in clause (b) above, which reduction shall occur on such Distribution Date after giving effect to distributions made on such Distribution Date.
 
(g)  Any Net Interest Shortfall will be allocated among the Classes of Certificates (other than the Residual Certificates) in proportion to the respective amounts of Accrued Certificate Interest that would have been allocated thereto in the absence of such Net Interest Shortfall for such Distribution Date. The interest portion of any Realized Losses with respect to the Mortgage Loans occurring on or prior to the Cross-Over Date will not be allocated among any Certificates, but will reduce the amount of Available Funds on the related Distribution Date. As a result of the subordination of the Subordinate Certificates in right of distribution, such Realized Losses on the Mortgage Loans will be borne by the Subordinate Certificates, in inverse order of their numerical Class designations. Following the Cross-Over Date, the interest portion of Realized Losses on the Mortgage Loans will be allocated to the Senior Certificates in the manner described in the first sentence of this clause (g).
 
(h)  In addition, in the event that the Master Servicer receives any Subsequent Recoveries from the Servicer, the Master Servicer shall deposit such funds into the Master Servicer Collection Account pursuant to Section 4.03. 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 Current Principal Amount of the Class of Subordinate Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Subordinate Certificates pursuant to this Section 6.02. The amount of any remaining Subsequent Recoveries will be applied to sequentially increase the Current Principal Amount of the Subordinate Certificates, beginning with the Class of Subordinate Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to such Class of Certificates pursuant to this Section 6.02. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Current Principal Amount of each Subordinate Certificate of such Class in accordance with its respective Fractional Undivided Interest.
 
Section 6.03  Payments.
 
(a)  On each Distribution Date, other than the final Distribution Date, the Trustee shall distribute to each Certificateholder of record as of the immediately preceding Record Date the Certificateholder’s pro rata share of its Class (based on the aggregate Fractional Undivided Interest represented by such Holder’s Certificates) of all amounts required to be distributed on such Distribution Date to such Class, based on information provided to the Trustee. The Trustee shall calculate the amount to be distributed to each Class and, based on such amounts, the Trustee shall determine the amount to be distributed to each Certificateholder. All of the Trustee’s calculations of payments shall be based solely on information provided to the Trustee by the Master Servicer. The Trustee shall not be required to confirm, verify or recompute any such information but shall be entitled to rely conclusively on such information.
 
(b)  Payment of the above amounts to each Certificateholder shall be made (i) by check mailed to each Certificateholder entitled thereto at the address appearing in the Certificate Register or (ii) upon receipt by the Trustee on or before the fifth Business Day preceding the Record Date of written instructions from a Certificateholder by wire transfer to a United States dollar account maintained by the payee at any United States depository institution with appropriate facilities for receiving such a wire transfer; provided, however, that the final payment in respect of each Class of Certificates will be made only upon presentation and surrender of such respective Certificates at the office or agency of the Trustee specified in the notice to Certificateholders of such final payment.
 
Section 6.04  Statements to Certificateholders.
 
(a)  Concurrently with each distribution to Certificateholders, the Trustee shall make available to the parties hereto and each Certificateholder via the Trustee’s internet website as set forth below, the following information, expressed with respect to clauses (i) through (vii) in the aggregate and as a Fractional Undivided Interest representing an initial Current Principal Amount of $1,000, or in the case of the Residual Certificates, an initial Current Principal Amount of $50:
 
(i)  the Current Principal Amount of each Class of Certificates immediately prior to such Distribution Date;
 
(ii)  the amount of the distribution allocable to principal on each applicable Class of Certificates;
 
(iii)  the aggregate amount of interest accrued at the related Pass-Through Rate with respect to each Class during the related Interest Accrual Period;
 
(iv)  the Net Interest Shortfall and any other adjustments to interest at the related Pass-Through Rate necessary to account for any difference between interest accrued and aggregate interest distributed with respect to each Class of Certificates;
 
(v)  the amount of the distribution allocable to interest on each Class of Certificates;
 
(vi)  the Pass-Through Rates for each Class of Certificates with respect to such Distribution Date;
 
(vii)  the Current Principal Amount of each Class of Certificates after such Distribution Date;
 
(viii)  the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or the Servicer included in such distribution separately stated for each Loan Group;
 
(ix)  the aggregate amount of any Realized Losses (listed separately for each category of Realized Loss and for each Loan Group) during the related calendar month and cumulatively since the Cut-off Date and the amount and source (separately identified) of any distribution in respect thereof included in such distribution;
 
(x)  with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Net Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan;
 
(xi)  with respect to each Loan Group, the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Net Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date;
 
(xii)  the number of Mortgage Loans (excluding REO Property) in each Loan Group remaining in the Trust Fund as of the end of the related Prepayment Period;
 
(xiii)  information for each Loan Group and in the aggregate regarding any Mortgage Loan delinquencies as of the end of the related calendar month, including the aggregate number and aggregate Outstanding Principal Balance of Mortgage Loans using the MBA method of calculation (a) Delinquent 30 to 59 days on a contractual basis, (b) Delinquent 60 to 89 days on a contractual basis, and (c) Delinquent 90 or more days on a contractual basis, in each case as of the close of business on the last Business Day of the immediately preceding month;
 
(xiv)  for each Loan Group, the number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans;
 
(xv)  for each Loan Group, the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period;
 
(xvi)  the book value (the sum of (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property in each Loan Group; provided that, in the event that such information is not available to the Trustee on the Distribution Date, such information shall be furnished promptly after it becomes available;
 
(xvii)  the amount of Realized Losses allocated to each Class of Certificates since the prior Distribution Date and in the aggregate for all prior Distribution Dates; and
 
(xviii)  the Average Loss Severity Percentage for each Loan Group; and
 
(xix)  the then applicable Group I, Group II and Group III Senior Percentage, Group I, Group II and Group III Senior Prepayment Percentage, Group I, Group II and Group III Subordinate Percentage and Group I, Group II and Group III Subordinate Prepayment Percentage.
 
The information set forth above shall be calculated or reported, as the case may be, by the Trustee, based solely on, and to the extent of, information provided to the Trustee by the Master Servicer. The Trustee may conclusively rely on such information and shall not be required to confirm, verify or recalculate any such information.
 
The Trustee may make available each month, to any interested party, the monthly statement to Certificateholders via the Trustee’s website initially located at “www.ctslink.com.” Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (866) 846-4526. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Trustee’s customer service desk and indicating such. The Trustee shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Trustee shall provide timely and adequate notification to all parties regarding any such change.
 
(b)  By April 30 of each year beginning in 2008, the Trustee will furnish such report to each Holder of the Certificates of record at any time during the prior calendar year as to the aggregate of amounts reported pursuant to subclauses (a)(ii) and (a)(v) above with respect to the Certificates, plus information, upon request, with respect to the amount of servicing compensation and such other customary information as the Trustee may determine to be necessary and/or to be required by the Internal Revenue Service or by a federal or state law or rules or regulations to enable such Holders to prepare their tax returns for such calendar year. Such obligations shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee or the Trustee pursuant to the requirements of the Code.
 
Section 6.05  Monthly Advances.
 
The Master Servicer shall cause the Servicer to remit any Advance required pursuant to the terms of the Servicing Agreement. The related Servicer shall be obligated to make any such Advance only to the extent that such advance would not be a Nonrecoverable Advance. If the Servicer shall have determined that it has made a Nonrecoverable Advance or that a proposed Advance or a lesser portion of such Advance would constitute a Nonrecoverable Advance, the Servicer shall deliver (i) to the Master Servicer for the benefit of the Certificateholders funds constituting the remaining portion of such Advance, if applicable, and (ii) to the Depositor, the Master Servicer, each Rating Agency and the Trustee an Officer’s Certificate setting forth the basis for such determination. Subject to the Master Servicer’s recoverability determination, in the event that the Servicer fails to make a required Advance, the Master Servicer, as successor servicer, shall be required to remit the amount of such Advance to the Master Servicer Collection Account in accordance with Section 4.03. If the Master Servicer was required to make an Advance but failed to do so, the Trustee, upon receiving notice or becoming aware of such failure, and pursuant to the applicable terms of this Agreement, shall appoint a successor master servicer who will make such Advance, or the Trustee as successor master servicer shall be required to remit the amount of such Advance to the Distribution Account, unless the Trustee in its capacity as successor master servicer shall have determined that such Advance is a Nonrecoverable Advance. 
 

Section 6.06  Compensating Interest Payments.
 
The Master Servicer shall cause the Servicer under the Servicing Agreement to remit any required Compensating Interest Payments to the Distribution Account on the Remittance Date.
 
 
ARTICLE VII
THE MASTER SERVICER
 
Section 7.01  Liabilities of the Master Servicer.
 
The Master Servicer shall be liable in accordance herewith only to the extent of the obligations specifically imposed upon and undertaken by it herein.
 
Section 7.02  Merger or Consolidation of the Master Servicer.
 
(a)  The Master Servicer will keep in full force and effect its existence, rights and franchises as a corporation under the laws of the state of its incorporation, and will 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 duties under this Agreement.
 
(b)  Any Person into which the Master Servicer may be merged or consolidated, or any corporation resulting from any merger or consolidation to which the Master Servicer shall be a party, or any Person succeeding to the business of the Master Servicer, shall be the successor of the Master Servicer hereunder, without the execution or filing of any paper or further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.
 
Section 7.03  Indemnification of the Master Servicer.
 
(a)  The Master Servicer agrees to indemnify the Indemnified Persons for, and to hold them harmless against, any loss, liability or expense (including reasonable legal fees and disbursements of counsel) incurred on their part that may be sustained in connection with, arising out of, or relating to, any claim or legal action (including any pending or threatened claim or legal action) relating to this Agreement, the Servicing Agreement, the Assignment Agreements or the Certificates or the powers of attorney delivered by the Trustee hereunder (i) related to the Master Servicer’s failure to perform its duties in compliance with this Agreement (except as any such loss, liability or expense shall be otherwise reimbursable pursuant to this Agreement) or (ii) incurred by reason of the Master Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its duties hereunder or by reason of reckless disregard of its obligations and duties hereunder, provided, in each case, that with respect to any such claim or legal action (or pending or threatened claim or legal action), the Trustee shall have given the Master Servicer and the Depositor written notice thereof promptly after a Responsible Officer of the Trustee shall have with respect to such claim or legal action actual knowledge thereof. The Master Servicer’s failure to receive any such notice shall not affect the Trustee’s right to indemnification hereunder, except to the extent the Master Servicer is materially prejudiced  by such failure to give notice. This indemnity shall survive the resignation or removal of the Trustee, Master Servicer or the Trustee and the termination of this Agreement.
 
(b)  The Depositor will indemnify any Indemnified Person for any loss, liability or expense of any Indemnified Person not otherwise covered by the Master Servicer’s indemnification pursuant to Subsection (a) above.
 
Section 7.04  Limitations on Liability of the Master Servicer and Others.
 
Subject to the obligation of the Master Servicer to indemnify the Indemnified Persons pursuant to Section 7.03:
 
(a)  Neither the Master Servicer nor any of the directors, officers, employees or agents of the Master Servicer shall be under any liability to the Indemnified Persons, the Depositor, the Trust Fund or the Certificateholders for taking any action or for refraining from taking any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect 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 such Person’s willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder.
 
(b)  The Master Servicer and any director, officer, employee or agent of 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.
 
(c)  The Master Servicer, the Custodian and any director, officer, employee or agent of the Master Servicer or the Custodian, shall be indemnified by the Trust and held harmless thereby against any loss, liability or expense (including reasonable legal fees and disbursements of counsel) incurred on their part that may be sustained in connection with, arising out of, or related to, any claim or legal action (including any pending or threatened claim or legal action) relating to this Agreement, the Certificates or the Servicing Agreement (except to the extent that the Master Servicer or the Trustee, as the case may be, is indemnified by the Servicer thereunder), other than (i) any such loss, liability or expense related to the Master Servicer's failure to perform its duties in compliance with this Agreement (except as any such loss, liability or expense shall be otherwise reimbursable pursuant to this Agreement), or to the Custodian's failure to perform its duties under the Custodial Agreement, respectively, or (ii) any such loss, liability or expense incurred by reason of the Master Servicer's or the Custodian's willful misfeasance, bad faith or gross negligence in the performance of duties hereunder or under the Custodial Agreement, as applicable, or by reason of reckless disregard of obligations and duties hereunder or under the Custodial Agreement, as applicable.
 
(d)  The Master Servicer shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its duties under this Agreement and that in its opinion may involve it in any expense or liability; provided, however, the Master Servicer may in its discretion, with the consent of the Trustee (which consent shall not be unreasonably withheld), undertake any such action which it may deem necessary or desirable with 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 and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund, and the Master Servicer shall be entitled to be reimbursed therefor out of the Distribution Account as provided by Section 4.05. Nothing in this Subsection 7.04(d) shall affect the Master Servicer’s obligation to supervise, or to take such actions as are necessary to ensure, the servicing and administration of the Mortgage Loans pursuant to Subsection 3.01(a).
 
(e)  In taking or recommending any course of action pursuant to this Agreement, unless specifically required to do so pursuant to this Agreement, the Master Servicer shall not be required to investigate or make recommendations concerning potential liabilities which the Trust might incur as a result of such course of action by reason of the condition of the Mortgaged Properties but shall give notice to the Trustee if it has notice of such potential liabilities.
 
(f)  The Master Servicer shall not be liable for any acts or omissions of the Servicer, except as otherwise expressly provided herein.
 
Section 7.05  Master Servicer Not to Resign.
 
Except as provided in Section 7.07, the Master Servicer shall not resign from the obligations and duties hereby imposed on it except upon a determination that any such duties hereunder are no longer permissible under applicable law and such impermissibility cannot be cured. Any such determination permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Independent Counsel addressed to the Trustee to such effect delivered to the Trustee. No such resignation by the Master Servicer shall become effective until EMC or the Trustee or a successor to the Master Servicer reasonably satisfactory to the Trustee shall have assumed the responsibilities and obligations of the Master Servicer in accordance with Section 8.02 hereof. The Trustee shall notify the Rating Agencies of the resignation of the Master Servicer.
 
Section 7.06  Successor Master Servicer.
 
In connection with the appointment of any successor master servicer or the assumption of the duties of the Master Servicer, EMC or the Trustee may make arrangements for the compensation of such successor master servicer out of payments on the Mortgage Loans as EMC or the Trustee and such successor master servicer shall agree. If the successor master servicer does not agree that such market value is a fair price, such successor master servicer shall obtain two quotations of market value from third parties actively engaged in the servicing of single-family mortgage loans. Notwithstanding the foregoing, the compensation payable to a successor master servicer may not exceed the compensation which the Master Servicer would have been entitled to retain if the Master Servicer had continued to act as Master Servicer hereunder.
 
Section 7.07  Sale and Assignment of Master Servicing.
 
The Master Servicer may sell and assign its rights and delegate its duties and obligations in its entirety as Master Servicer under this Agreement; provided, however, that: (i) the purchaser or transferee accepting such assignment and delegation (a) shall be a Person which shall be qualified to service mortgage loans for Fannie Mae or Freddie Mac; (b) shall have a net worth of not less than $15,000,000 (unless otherwise approved by each Rating Agency pursuant to clause (ii) below); (c) shall be reasonably satisfactory to the Trustee (as evidenced in a writing signed by the Trustee); and (d) shall execute and deliver to the Trustee an agreement, in form and substance reasonably satisfactory to 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 it as master servicer under this Agreement, any custodial agreement from and after the effective date of such agreement; (ii) each Rating Agency shall be given prior written notice of the identity of the proposed successor to the Master Servicer and each Rating Agency’s rating of the Certificates in effect immediately prior to such assignment, sale and delegation will not be downgraded, qualified or withdrawn as a result of such assignment, sale and delegation, as evidenced by a letter to such effect delivered to the Master Servicer and the Trustee; and (iii) the Master Servicer assigning and selling the master servicing shall deliver to the Trustee an Officer’s Certificate and an Opinion of Independent Counsel addressed to the Trustee, each stating that all conditions precedent to such action under this Agreement have been completed and such action is permitted by and complies with the terms of this Agreement. No such assignment or delegation shall affect any liability of the Master Servicer arising prior to the effective date thereof.
 
 
ARTICLE VIII
DEFAULT
 
Section 8.01  Events of Default.
 
“Event of Default,” wherever used herein, means any one of the following events (whatever the 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) and only with respect to the defaulting Master Servicer:
 
(i) any failure by the Master Servicer to remit to the Trustee any amounts received or collected by the Master Servicer in respect of the Mortgage Loans and required to be remitted by it (other than any Monthly Advance) pursuant to this Agreement, which failure shall continue unremedied for one Business Day after the date on which written notice of such failure shall have been given to the Master Servicer by the Trustee or the Depositor, or to the Trustee and the Master Servicer by the Holders of Certificates evidencing not less than 25% of the Voting Rights evidenced by the Certificates; or
 
(ii) The Master Servicer fails to observe or perform in any material respect any other material covenants and agreements set forth in this Agreement to be performed by it, which covenants and agreements materially affect the rights of Certificateholders, and such failure continues unremedied for a period of 60 days after the date on which written notice of such failure, properly requiring the same to be remedied, shall have been given to the Master Servicer by the Trustee or to the Master Servicer and the Trustee by the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 25% of the Trust Fund; or
 
(iii) There is entered against the Master Servicer a decree or order by a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding up or liquidation of its affairs, and the continuance of any such decree or order is unstayed and in effect for a period of 60 consecutive days, or an involuntary case is commenced against the Master Servicer under any applicable insolvency or reorganization statute and the petition is not dismissed within 60 days after the commencement of the case; or
 
(iv) The Master Servicer consents to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Master Servicer or substantially all of its property; or the Master Servicer admits in writing its inability to pay its debts generally as they become due, files a petition to take advantage of any applicable insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily suspends payment of its obligations;
 
(v) The Master Servicer assigns or delegates its duties or rights under this Agreement in contravention of the provisions permitting such assignment or delegation under Sections 7.05 or 7.07; or
 
(vi) The Master Servicer fails to deposit, or cause to be deposited, in the Distribution Account any Monthly Advance required to be made by the Master Servicer (other than a Nonrecoverable Advance) by the close of business on the Business Day prior to the related Distribution Date.
 
In each and every such case, so long as such Event of Default with respect to the Master Servicer shall not have been remedied, either the Trustee or the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 51% of the principal of the Trust Fund, by notice in writing to the Master Servicer (and to the Trustee if given by such Certificateholders), with a copy to the Rating Agencies, and with the consent of EMC, may terminate all of the rights and obligations (but not the liabilities) of the Master Servicer under this Agreement and in and to the Mortgage Loans and/or the REO Property serviced by the Master Servicer and the proceeds thereof. Upon the receipt by the Master Servicer of the written notice, all authority and power of the Master Servicer under this Agreement, whether with respect to the Certificates, the Mortgage Loans, REO Property or under any other related agreements (but only to the extent that such other agreements relate to the Mortgage Loans or related REO Property) shall, subject to Section 8.02, automatically and without further action pass to and be vested in the Trustee in its capacity as successor master servicer pursuant to this Section 8.01; 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 its capacity as successor master servicer (or such other successor master servicer as may be appointed hereunder) in effecting the termination of the Master Servicer’s rights and obligations hereunder, including, without limitation, the transfer to the Trustee in its capacity as successor master servicer (or such other successor master servicer as may be appointed hereunder) of (i) the property and amounts which are then or should be part of the Trust or which thereafter become part of the Trust; and (ii) originals or copies of all documents of the Master Servicer reasonably requested by the Trustee in its capacity as successor master servicer (or such other successor master servicer as may be appointed hereunder) to enable it to assume the Master Servicer’s duties thereunder. In addition to any other amounts which are then, or, notwithstanding the termination of its activities under this Agreement, may become payable to the Master Servicer under this Agreement, the Master Servicer shall be entitled to receive, out of any amount received on account of a Mortgage Loan or related REO Property, that portion of such payments which it would have received as reimbursement under this Agreement if notice of termination had not been given. The termination of the rights and obligations of the Master Servicer shall not affect any obligations incurred by the Master Servicer prior to such termination. The Trustee shall promptly notify the Trustee in writing of the occurrence of an Event of Default under clauses (i) or (vi) above.
 
Notwithstanding the foregoing, if an Event of Default described in clause (vi) of this Section 8.01 shall occur and the Trustee fails to make such Advance described in clause (vi) of Section 8.01, the Trustee upon receiving notice or becoming aware of such failure, and pursuant to the applicable terms of this Agreement, shall, by notice in writing to the Master Servicer, which may be delivered by telecopy, immediately terminate all of the rights and obligations of the Master Servicer thereafter arising under this Agreement, but without prejudice to any rights it may have as a Certificateholder or to reimbursement of Monthly Advances and other advances of its own funds, and the Trustee in its capacity as successor master servicer (or such other successor master servicer as may be appointed hereunder) shall act as provided in Section 8.02 to carry out the duties of the Master Servicer, including the obligation to make any Monthly Advance the nonpayment of which was an Event of Default described in clause (vi) of this Section 8.01. Any such action taken by the Trustee in its capacity as successor master servicer (or such other successor master servicer as may be appointed hereunder) must be prior to the distribution on the relevant Distribution Date.
 
Section 8.02  Trustee to Act; Appointment of Successor.
 
(a)  Upon the receipt by the Master Servicer of a notice of termination pursuant to Section 8.01 or an Opinion of Independent Counsel pursuant to Section 7.05 to the effect that the Master Servicer is legally unable to act or to delegate its duties to a Person which is legally able to act, the Trustee shall automatically become the successor in all respects to the Master Servicer in its capacity under this Agreement and the transactions set forth or provided for herein and shall thereafter have all of the rights and powers of, and be subject to all the responsibilities, duties, liabilities and limitations on liabilities relating thereto placed on the Master Servicer by the terms and provisions hereof; provided, however, that the Trustee in its capacity as successor master servicer shall have no obligation whatsoever with respect to any liability (other than advances deemed recoverable and not previously made) incurred by the Master Servicer at or prior to the time of termination. As compensation therefor, but subject to Section 7.06, the Trustee in its capacity as successor master servicer shall be entitled to compensation which the Master Servicer would have been entitled to retain if the Master Servicer had continued to act hereunder, except for those amounts due the Master Servicer as reimbursement permitted under this Agreement for advances previously made or expenses previously incurred. Notwithstanding the above, the Trustee may, if it shall be unwilling so to act, or shall, if it is legally unable so to act, appoint or petition a court of competent jurisdiction to appoint, any established housing and home finance institution which is a Fannie Mae- or Freddie Mac-approved servicer, and with respect to a successor to the Master Servicer only, having a net worth of not less than $15,000,000, 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; provided, that the Trustee shall obtain a letter from each Rating Agency that the ratings, if any, on each of the Certificates will not be lowered as a result of the selection of the successor to the Master Servicer. Pending appointment of a successor to the Master Servicer hereunder, the Trustee in its capacity as successor master servicer 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 the Mortgage Loans as it and such successor shall agree; provided, however, that the provisions of Section 7.06 shall apply, the compensation shall not be in excess of that which the Master Servicer would have been entitled to if the Master Servicer had continued to act hereunder, and that such successor shall undertake and assume the obligations of the Trustee to pay compensation to any third Person acting as an agent or independent contractor in the performance of master servicing responsibilities hereunder. The Trustee and such successor shall take such action, consistent with this Agreement, as shall be necessary to effectuate any such succession.
 
(b)  If the Trustee shall succeed to any duties of the Master Servicer respecting the Mortgage Loans as provided herein, it shall do so in a separate capacity and not in its capacity as Trustee and, accordingly, the provisions of Article IX shall be inapplicable to the Trustee in its duties as the successor to the Master Servicer in the servicing of the Mortgage Loans (although such provisions shall continue to apply to the Trustee in its capacity as Trustee); the provisions of Article VII, however, shall apply to it in its capacity as successor master servicer.
 
Section 8.03  Notification to Certificateholders.
 
Upon any termination or appointment of a successor to the Master Servicer, the Trustee shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register and to the Rating Agencies.
 
Section 8.04  Waiver of Defaults.
 
The Trustee shall transmit by mail to all Certificateholders, within 60 days after the occurrence of any Event of Default actually known to a Responsible Officer of the Trustee, unless such Event of Default shall have been cured, notice of each such Event of Default. The Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund may, on behalf of all Certificateholders, waive any default by the Master Servicer in the performance of its obligations hereunder and the consequences thereof, except a default in the making of or the causing to be made any required distribution on the Certificates, which default may only be waived by Holders of Certificates evidencing Fractional Undivided Interests aggregating 100% of the Trust Fund. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Event of Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived. The Trustee shall give notice of any such waiver to the Rating Agencies.
 
Section 8.05  List of Certificateholders.
 
Upon written request of three or more Certificateholders of record, for purposes of communicating with other Certificateholders with respect to their rights under this Agreement, the Trustee will afford such Certificateholders access during business hours to the most recent list of Certificateholders held by the Trustee.
 
 
ARTICLE IX
CONCERNING THE TRUSTEE
 
Section 9.01  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, and the Trustee each undertake to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee, respectively. If an Event of Default has occurred and has not been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and subject to Section 8.02(b) use the same degree of care and skill in their exercise, as a prudent person would exercise under the circumstances in the conduct of his own affairs.
 
(b)  Upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments which are specifically required to be furnished to the Trustee pursuant to any provision of this Agreement, the Trustee, respectively, shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished hereunder; provided, further, the Trustee shall not be responsible for the accuracy or verification of any calculation provided to it pursuant to this Agreement.
 
(c)  On each Distribution Date, the Trustee shall make monthly distributions and the final distribution to the Certificateholders from funds in the Distribution Account as provided in Sections 6.01 and 10.01 herein based solely on the report of the Trustee.
 
(d)  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 its 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 and conforming to the requirements of this Agreement;
 
(ii)  The Trustee shall not be liable in its individual capacity 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 liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the directions of the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 25% of the Trust Fund, if such action or non-action relates to the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or other power conferred upon the Trustee under this Agreement;
 
(iv)  The Trustee shall not be required to take notice or be deemed to have notice or knowledge of any default or Event of Default unless a Responsible Officer of the Trustee’s Corporate Trust Office shall have actual knowledge thereof. In the absence of such notice, the Trustee may conclusively assume there is no such default or Event of Default;
 
(v)  The Trustee shall not in any way be liable by reason of any insufficiency in any Account held by or in the name of Trustee unless it is determined by a court of competent jurisdiction that the Trustee’s gross negligence or willful misconduct was the primary cause of such insufficiency (except to the extent that the Trustee is obligor and has defaulted thereon);
 
(vi)  Anything in this Agreement to the contrary notwithstanding, in no event shall the Trustee be liable for special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action;
 
(vii)  Neither of the Trustee nor the Depositor shall be responsible for the acts or omissions of the other, it being understood that this Agreement shall not be construed to render them partners, joint venturers or agents of one another and
 
(viii)  The Trustee shall not be required to expend or risk its own funds or otherwise incur financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if there is reasonable ground for believing that the repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it, and none of the provisions contained in this Agreement shall in any event require the Trustee to perform, or be responsible for the manner of performance of, any of the obligations of the Master Servicer under the Servicing Agreement, except during such time, if any, as the Trustee shall be the successor to, and be vested with the rights, duties, powers and privileges of, the Master Servicer in accordance with the terms of this Agreement.
 
(e)  All funds received by the Master Servicer and the Trustee and required to be deposited in the Distribution Account pursuant to this Agreement will be promptly so deposited by the Master Servicer and the Trustee.
 
(f)  Except for those actions that the Trustee is required to take hereunder, the Trustee shall not have any obligation or liability to take any action or to refrain from taking any action hereunder in the absence of written direction as provided hereunder.
 
Section 9.02  Certain Matters Affecting the Trustee.
 
Except as otherwise provided in Section 9.01:
 
(i)  The Trustee may rely and shall be protected in acting or refraining from acting in reliance on any resolution, certificate of the Depositor, the Master Servicer or the Servicer, 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 advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection with respect to any action taken or suffered or omitted by it hereunder in good faith and in accordance with such advice or Opinion of Counsel:
 
(iii)  The Trustee shall not be under any obligation to exercise any of the trusts or powers vested in it by this Agreement, other than its obligation to give notices pursuant to 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 of which a Responsible Officer of the Trustee has actual knowledge (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 person would exercise under the circumstances in the conduct of his own affairs;
 
(iv)  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 liable in its individual capacity 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)  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 to do so by Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 25% of the Trust Fund and provided that 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 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 taking any such action. The reasonable expense of every such examination shall be paid by the Certificateholders requesting the investigation;
 
(vi)  The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or through Affiliates, agents or attorneys; provided, however, that the Trustee may not appoint any agent to perform its custodial functions with respect to the Mortgage Files or Trustee functions under this Agreement without the express written consent of the Master Servicer, which consent will not be unreasonably withheld. The Trustee shall not be liable or responsible for the misconduct or negligence of any of the Trustee’s agents or attorneys or a custodian or trustee appointed hereunder by the Trustee with due care and, when required, with the consent of the Master Servicer;
 
(vii)  Should the Trustee deem the nature of any action required on its part, other than a payment or transfer under Subsection 4.01(b) or Section 4.02, to be unclear, the Trustee may require prior to such action that it be provided by the Depositor with reasonable further instructions;
 
(viii)  The right of the Trustee to perform any discretionary act enumerated in this Agreement shall not be construed as a duty, and the Trustee shall not be accountable for other than its negligence or willful misconduct in the performance of any such act;
 
(ix)  The Trustee shall not be required to give any bond or surety with respect to the execution of the trust created hereby or the powers granted hereunder, except as provided in Subsection 9.07; and
 
(x)  The Trustee shall not have any duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase of any Mortgage Loan by the Seller pursuant to this Agreement or the Mortgage Loan Purchase Agreement, as applicable, or the eligibility of any Mortgage Loan for purposes of this Agreement.
 
Section 9.03  Trustee Not Liable for Certificates or Mortgage Loans.
 
The recitals contained herein and in the Certificates (other than the signature and countersignature of the Trustee on the Certificates) shall be taken as the statements of the Depositor, and neither the Trustee, or the Custodian on its behalf shall have any responsibility for their correctness. The Trustee does not make any representation as to the validity or sufficiency of the Certificates (other than the signature and countersignature of the Trustee on the Certificates) or of any Mortgage Loan except as expressly provided in Sections 2.02 and 2.05 hereof; provided, however, that the foregoing shall not relieve the Trustee, or the Custodian on its behalf, of the obligation to review the Mortgage Files pursuant to Sections 2.02 and 2.04. The signature and countersignature of the Trustee (or countersignature of its agent) on the Certificates shall be solely in its capacity as Trustee and shall not constitute the Certificates an obligation of the Trustee in any other capacity. The Trustee shall not be accountable for the use or application by the Depositor of any of the Certificates or of the proceeds of such Certificates, or for the use or application of any funds paid to the Depositor with respect to the Mortgage Loans. Subject to the provisions of Section 2.05, the Trustee shall not be responsible for the legality or validity of this Agreement or any document or instrument relating to this Agreement, the validity of the execution of this Agreement or of any supplement hereto or instrument of further assurance, or the validity, priority, perfection or sufficiency of the security for the Certificates issued hereunder or intended to be issued hereunder. The Trustee shall not at any time have any responsibility or liability for or with respect to the legality, validity and enforceability of any Mortgage or any Mortgage Loan, or the perfection and priority of any Mortgage or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Fund or its ability to generate the payments to be distributed to Certificateholders, under this Agreement. The Trustee shall not have any responsibility for filing any financing statement or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to record this Agreement.
 
Section 9.04  Trustee May Own Certificates.
 
The Trustee in its individual capacity or in any capacity other than as Trustee hereunder may become the owner or pledgee of any Certificates with the same rights it would have if it were not Trustee, as applicable, and may otherwise deal with the parties hereto.
 
Section 9.05  Trustee’s Fees and Expenses.
 
The Trustee shall be entitled to the Trustee Fee and investment income on funds in the Distribution Account as compensation for its activities under this Agreement. The fees and expenses of the Trustee shall be paid in accordance with a side letter agreement with the Trustee and at the expense of the Trustee. In addition, the Trustee will be entitled to recover from the Distribution Account pursuant to Section 4.05(a)(ii) all reasonable out-of-pocket expenses, disbursements and advances and the expenses of the Trustee, respectively, in connection with any Event of Default, any breach of this Agreement or any claim or legal action (including any pending or threatened claim or legal action) or incurred or made by the Trustee in the administration of the trusts hereunder (including the reasonable compensation, expenses and disbursements of its counsel) except any such expense, disbursement or advance as may arise from its negligence or intentional misconduct or which is the responsibility of the Certificateholders. If funds in the Distribution Account are insufficient therefor, the Trustee shall recover such expenses from the Depositor and the Depositor hereby agrees to pay such expenses, disbursements or advances upon demand. Such compensation and reimbursement obligation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust.
 
Section 9.06  Eligibility Requirements for Trustee.
 
The Trustee and any successor trustee shall during the entire duration of this Agreement be a state bank or trust company or a national banking association 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 and undivided profits of at least $40,000,000 or, in the case of a successor trustee, $50,000,000, subject to supervision or examination by federal or state authority and, in the case of the Trustee, rated “BBB” or higher by S&P with respect to their long-term rating and rated “BBB” or higher by S&P and “Baa2” or higher by Moody’s with respect to any outstanding long-term unsecured unsubordinated debt, and, in the case of a successor trustee other than pursuant to Section 9.10, rated in one of the two highest long-term debt categories of, or otherwise acceptable to, each of the Rating Agencies. If the Trustee 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 9.06 the combined capital and surplus of such corporation shall be deemed to be its total equity capital (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 9.06, the Trustee shall resign immediately in the manner and with the effect specified in Section 9.08.
 
Section 9.07  Insurance.
 
The Trustee at its own expense, shall at all times maintain and keep in full force and effect: (i) fidelity insurance, (ii) theft of documents insurance and (iii) forgery insurance (which may be collectively satisfied by a “Financial Institution Bond” and/or a “Bankers’ Blanket Bond”). All such insurance shall be in amounts, with standard coverage and subject to deductibles, as are customary for insurance typically maintained by banks or their affiliates which act as custodians for investor-owned mortgage pools. A certificate of an officer of the Trustee as to the Trustee’s compliance with this Section 9.07 shall be furnished to any Certificateholder upon reasonable written request.
 
Section 9.08  Resignation and Removal of the Trustee.
 
(a)  The Trustee may at any time resign and be discharged from the Trust hereby created by giving written notice thereof to the Depositor and the Master Servicer, with a copy to the Rating Agencies. Upon receiving such notice of resignation, the Depositor shall promptly appoint a successor trustee, by written instrument, in triplicate, one copy of which instrument shall be delivered to each of the resigning Trustee, 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 9.06 and shall fail to resign after written request therefor by the Depositor or if at any time the Trustee shall become incapable of acting, or shall be adjudged a 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 Depositor shall promptly remove the Trustee and appoint a successor trustee by written instrument, in triplicate, one copy of which instrument shall be delivered to the Trustee so removed and to the successor trustee.
 
(c)  The Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund may at any time remove the Trustee and appoint a successor trustee by written instrument or instruments, in quadruplicate, signed by such Holders or their attorneys-in-fact duly authorized, one complete set of which instruments shall be delivered to the Depositor and the Trustee (if the Trustee is removed), and the successor so appointed. In the event that the Trustee is removed by the Holders of Certificates in accordance with this Section 9.08(c), the Holders of such Certificates shall be responsible for paying any compensation payable to a successor trustee in excess of the amount paid to the predecessor Trustee.
 
(d)  No resignation or removal of the Trustee and appointment of a successor trustee pursuant to any of the provisions of this Section 9.08 shall become effective except upon appointment of and acceptance of such appointment by the successor trustee as provided in Section 9.09.
 
Section 9.09  Successor Trustee.
 
(a)  Any successor trustee appointed as provided in Section 9.08 shall execute, acknowledge and deliver to the Depositor and to its predecessor Trustee an instrument accepting such appointment hereunder. The resignation or removal of the predecessor Trustee shall then 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 like effect as if originally named as Trustee herein. The predecessor trustee shall after payment of its outstanding fees and expenses promptly deliver to the successor trustee all assets and records of the Trust held by it hereunder, and the Depositor 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 9.09 unless at the time of such acceptance such successor trustee shall be eligible under the provisions of Section 9.06.
 
(c)  Upon acceptance of appointment by a successor trustee as provided in this Section 9.09, the successor trustee shall mail notice of the succession of such trustee hereunder to all Certificateholders at their addresses as shown in the Certificate Register and to the Rating Agencies. The Depositor shall cause such notice to be mailed at the expense of the Trust Fund.
 
Section 9.10  Merger or Consolidation of Trustee.
 
Any state bank or trust company or national banking association into which the Trustee may be merged or converted or with which it may be consolidated or any state bank or trust company or national banking association resulting from any merger, conversion or consolidation to which the shall be a party, or any state bank or trust company or national banking association succeeding to all or substantially all of the corporate trust business of the Trustee shall be the successor of the Trustee hereunder, provided such state bank or trust company or national banking association shall be eligible under the provisions of Section 9.06. Such succession shall be valid 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.
 
Section 9.11  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 or property constituting the same may at the time be located, the Depositor 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 and the Depositor 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, and to vest in such Person or Persons, in such capacity, such title to the Trust, or any part thereof, and, subject to the other provisions of this Section 9.11, such powers, duties, obligations, rights and trusts as the Depositor and the Trustee may consider necessary or desirable.
 
(b)  If the Depositor shall not have joined in such appointment within 15 days after the receipt by it of a written request so to do, the Trustee shall have the power to make such appointment without the Depositor.
 
(c)  No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under Section 9.06 hereunder and no notice to Certificateholders of the appointment of co-trustee(s) or separate trustee(s) shall be required under Section 9.08 hereof.
 
(d)  In the case of any appointment of a co-trustee or separate trustee pursuant to this Section 9.11, all rights, powers, duties and obligations conferred or imposed upon the Trustee and required to be conferred on such co-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 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.
 
(e)  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 IX. 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.
 
(f)  To the extent not prohibited by law, any separate trustee or co-trustee may, at any time, request the Trustee, its agent or attorney-in-fact, with full power and authority, to do any lawful act under or with respect to 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.
 
(g)  No trustee under this Agreement shall be personally liable by reason of any act or omission of another trustee under this Agreement. The Depositor and the Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee.
 
Section 9.12  Federal Information Returns and Reports to Certificateholders; REMIC Administration.
 
(a)  For federal income tax purposes, the taxable year of each REMIC shall be a calendar year, and the Trustee shall maintain or cause the maintenance of the books of each such REMIC on the accrual method of accounting.
 
(b)  The Trustee shall prepare and file or cause to be filed with the Internal Revenue Service, and the Trustee shall sign, federal tax information returns or elections required to be made hereunder with respect to each REMIC, the Trust Fund, if applicable, and the Certificates containing such information and at the times and in the manner as may be required by the Code or applicable Treasury regulations and the Trustee shall deliver (or otherwise make available) to each Holder of Certificates at any time during the calendar year for which such returns or reports are made such statements or information at the times and in the manner as may be required thereby, including, without limitation, reports relating to interest, original issue discount and market discount or premium (using a constant prepayment assumption of 25% CPR). The Trustee will apply for an Employee Identification Number from the Internal Revenue Service under Form SS-4 or any other acceptable method for all tax entities. In connection with the foregoing, the Trustee shall timely prepare and file, and the Trustee shall, sign Internal Revenue Service Form 8811, which shall provide the name and address of the person at the Trustee who can be contacted to obtain information required to be reported to the holders of regular interests in each REMIC (the “REMIC Reporting Agent”). The Trustee shall make elections to treat each REMIC as a REMIC (which elections shall apply to the taxable period ending December 31, 2007 and each calendar year thereafter) in such manner as the Code or applicable Treasury regulations may prescribe, and as described by the Trustee. The Trustee shall sign all tax information returns filed pursuant to this Section and any other returns as may be required by the Code. The Holder of the Class R-I Certificate is hereby designated as the “Tax Matters Person” (within the meaning of Treasury Regulation Section 1.860F-4(d)) for REMIC I, the Holder of the Class R-II Certificate is hereby designated as the “Tax Matters Person” for REMIC II, and the Holder of the Class R-III Certificate is hereby designated as the “Tax Matters Person” for REMIC III . The Trustee is hereby designated and appointed as the agent of each such Tax Matters Person. Any Holder of a Residual Certificate will by acceptance thereof appoint the Trustee as agent and attorney-in-fact for the purpose of acting as Tax Matters Person for each REMIC during such time as the Trustee does not own any such Residual Certificate. In the event that the Code or applicable Treasury regulations prohibit the Trustee from signing tax or information returns or other statements, or the Trustee from acting as agent for the Tax Matters Person, the Trustee shall take whatever action that in its sole good faith judgment is necessary for the proper filing of such information returns or for the provision of a Tax Matters Person, including designation of the Holder of a Residual Certificate to sign such returns or act as Tax Matters Person. Each Holder of a Residual Certificate shall be bound by this Section.
 
(c)  The Trustee shall provide upon request and receipt of reasonable compensation, such information as required in Section 860D(a)(6)(B) of the Code to the Internal Revenue Service, to any Person purporting to transfer a Residual Certificate to a Person other than a transferee permitted by Section 5.05(b), and to any regulated investment company, real estate investment trust, common trust fund, partnership, trust, estate, organization described in Section 1381 of the Code, or nominee holding an interest in a pass-through entity described in Section 860E(e)(6) of the Code, any record holder of which is not a transferee permitted by Section 5.05(b) (or which is deemed by statute to be an entity with a disqualified member).
 
(d)  The Trustee shall prepare and file or cause to be filed, and the Trustee shall sign any state income tax returns required under Applicable State Law with respect to each REMIC or the Trust Fund.
 
(e)  Notwithstanding any other provision of this Agreement, the Trustee shall comply with all federal withholding requirements respecting payments to Certificateholders of, or in respect of, interest or original issue discount on the Mortgage Loans that the Trustee reasonably believes are applicable under the Code. The consent of Certificateholders shall not be required for such withholding. In the event the Trustee withholds any amount from payments of, or in respect of, interest or original issue discount or advances thereof to any Certificateholder pursuant to federal withholding requirements, the Trustee shall, together with its monthly report to such Certificateholders, indicate such amount withheld.
 
(f)  The Trustee agree to indemnify the Trust Fund and the Depositor for any taxes and costs including, without limitation, any reasonable attorneys fees imposed on or incurred by the Trust Fund, the Depositor or the Master Servicer, as a result of a breach of the Trustee’s covenants and the Trustee’s covenants, respectively, set forth in this Section 9.12; provided, however, such liability and obligation to indemnify in this paragraph shall not be joint and several, and neither the Trustee nor the Trustee shall be liable or be obligated to indemnify the Trust Fund for the failure by the other to perform any duty under this Agreement or the breach by the other of any covenant in this Agreement. In the event that any liable party hereto fails to honor its obligations under the preceding sentences, or taxes imposed on the Trust Fund are not otherwise paid, such taxes shall be paid first with amounts otherwise to be distributed to the Class R Certificates, and second with amounts otherwise to be distributed to the Holders of the following other Certificates in the following order of priority: first, to the Class B-7 Certificates, second, to the Class B-6 Certificates, third, to the Class B-5 Certificates, fourth, to the Class B-4 Certificates, fifth, to the Class B-3 Certificates, sixth, to the Class B-2 Certificates, seventh, to the Class B-1 Certificates, and eighth, to the Class A Certificates (on a pro rata basis based on the amounts to be distributed). Notwithstanding anything to the contrary contained herein, to the extent that such tax is payable by the Holder of any such Certificates, the Trustee is hereby authorized to retain on any Distribution Date, from the Holders of the Class R Certificates (and, if necessary, from the Holders of the other relevant Certificates in the priority specified in the preceding sentence), funds otherwise distributable to such Holders in an amount sufficient to pay such tax. The Trustee shall include in its monthly statement amounts allocated to the relevant Certificates, taking into account the priorities described in the second preceding sentence. The Trustee shall promptly notify in writing the party liable for any such tax of the amount thereof and the due date for the payment thereof.
 
 
ARTICLE X
TERMINATION
 
Section 10.01  Termination Upon Repurchase by the Depositor or its Designee or Liquidation of the Mortgage Loans.
 
(a)  Subject to Section 10.02, the respective obligations and responsibilities of the Depositor, the Master Servicer and the Trustee created hereby, other than the obligation of the Trustee to make payments to Certificateholders as hereinafter set forth shall terminate upon:
 
(i)  the repurchase by or at the direction of the Depositor or its designee of all of the Mortgage Loans and all related REO Property remaining in the Trust at a price (in each case, the “Termination Purchase Price”) equal to the sum of (a) 100% of the Outstanding Principal Balance of each Mortgage Loan (other than a Mortgage Loan related to REO Property) as of the date of repurchase, net of the principal portion of any unreimbursed Monthly Advances made by the purchaser, together with interest at the applicable Mortgage Interest Rate accrued but unpaid to, but not including, the first day of the month of repurchase, (b) the appraised value of any related REO Property, less the good faith estimate of the Depositor of liquidation expenses to be incurred in connection with its disposal thereof (but not more than the Outstanding Principal Balance of the related Mortgage Loan, together with interest at the applicable Mortgage Interest Rate accrued on that balance but unpaid to, but not including, the first day of the month of repurchase), such appraisal to be calculated by an appraiser mutually agreed upon by the Depositor and the Trustee at the expense of the Depositor, (c) unreimbursed out-of pocket costs of the Master Servicer, including unreimbursed servicing advances and the principal portion of any unreimbursed Monthly Advances, made on the Mortgage Loans prior to the exercise of such repurchase right and (d) any unreimbursed costs and expenses of the Trustee payable pursuant to Section 9.05; or
 
(ii)  the later of the making 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 with respect to any Mortgage Loan; provided, however, that in the event that an advance has been made, but not yet recovered, at the time of such termination, the Person having made such advance shall be entitled to receive, notwithstanding such termination, any payments received subsequent thereto with respect to which such advance was made; or
 
(iii)  the payment to the Certificateholders of all amounts required to be paid to them pursuant to this Agreement.
 
(b)  In no event, however, shall the Trust created hereby continue beyond the earlier of (i) the latest possible maturity date specified in Section 5.01(d) and (ii) 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’s, living on the date of this Agreement.
 
(c)  The right of the Depositor or its designee to repurchase all the assets of the Trust Fund as described in Subsection 10.01(a)(i) above is conditioned upon (i) such purchase occurring after the Distribution Date on which the aggregate Scheduled Principal Balance of the Mortgage Loans is less than 10% of the sum of the aggregate Scheduled Principal Balance of the Mortgage Loans as of the Cut-off Date, or (ii) the Depositor making a determination, based upon an Opinion of Counsel addressed to the Depositor and the Trustee, that the REMIC status of REMIC I, REMIC II or REMIC III has been lost or that a substantial risk exists that such REMIC status will be lost for the then-current taxable year. At any time thereafter, in the case of (i) or (ii) above, the Depositor may elect to terminate REMIC I, REMIC II or REMIC III at any time, and upon such election, the Depositor or its designee, shall repurchase all the assets of the Trust Fund described in Subsection 10.01(a)(i) above and in accordance with Section 10.02.
 
(d)  The Trustee shall give notice of any termination to the Certificateholders, with a copy to the Master Servicer, the Trustee and the Rating Agencies, upon which the Certificateholders shall surrender their Certificates to the Trustee for payment of the final distribution and cancellation. Such notice shall be given by letter, mailed not earlier than the l5th day and not later than the 25th day of the month next preceding the month of such final distribution, and shall specify (i) the Distribution Date upon which final payment of the Certificates will be made upon presentation and surrender of the Certificates at the office of the Trustee therein designated, (ii) the amount of any such final payment and (iii) that the Record Date otherwise applicable to such Distribution Date is not applicable, payments being made only upon presentation and surrender of the Certificates at the office of the Trustee therein specified.
 
(e)  If the option of the Depositor to repurchase or cause the repurchase of all the assets in the Trust Fund as described in Subsection 10.01(a)(i) above, is exercised, the Depositor and/or its designee shall deliver to the Trustee for deposit in the Distribution Account, by the Business Day prior to the applicable Distribution Date, an amount equal to the Termination Purchase Price. Upon presentation and surrender of the Certificates by the Certificateholders, the Trustee shall distribute to such Certificateholders an amount determined as follows: with respect to each Certificate (other than the Class R Certificates), the outstanding Current Principal Amount, plus with respect to each Certificate (other than the Class R Certificates), one month’s interest thereon at the applicable Pass-Through Rate; and with respect to the Class R Certificates, the percentage interest evidenced thereby multiplied by the difference, if any, between the above described repurchase price and the aggregate amount to be distributed to the Holders of the Certificates in such Certificate Group (other than the Class R Certificates). If the proceeds with respect to the Mortgage Loans of a Loan Group are not sufficient to pay all of the Senior Certificates of the related Certificate Group in full, any such deficiency shall be allocated first, to the Subordinate Certificates, in inverse order of their numerical designation and then to the Senior Certificates of the related Certificate Group on a pro rata basis. Upon deposit of the Termination Purchase Price and following such final Distribution Date, the Trustee or the Custodian, on its behalf, shall release promptly to the Depositor and/or its designee the Mortgage Files for the remaining Mortgage Loans, and the Accounts with respect thereto shall terminate, subject to the Trustee ’s obligation to hold any amounts payable to the Certificateholders in trust without interest pending final distributions pursuant to Subsection 10.01(g). Any other amounts remaining in the Accounts will belong to the Depositor.
 
(f)  Upon the presentation and surrender of the Certificates, the Trustee shall distribute to the remaining Certificateholders, pursuant to the written direction of the Trustee and in accordance with their respective interests, all distributable amounts remaining in the Distribution Account. Upon deposit by the Master Servicer of such distributable amounts, and following such final Distribution Date, the Trustee shall release promptly to the Depositor or its designee the Mortgage Files for the remaining Mortgage Loans, and the Distribution Account shall terminate, subject to the Trustee ’s obligation to hold any amounts payable to the Certificateholders in trust without interest pending final distributions pursuant to this Subsection 10.01(f).
 
(g)  If not all of the Certificateholders shall surrender their Certificates for cancellation within six months after the time specified in the above-mentioned written notice, the Trustee 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, not all the Certificates shall have been surrendered for cancellation, the Trustee may take appropriate steps, or appoint any agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the funds and other assets which remain subject to this Agreement.
 
Section 10.02  Additional Termination Requirements.
 
(a)  If the option of the Depositor to repurchase all of the Mortgage Loans under Subsection 10.01(a)(i) above is exercised, the Trust Fund and each REMIC shall be terminated in accordance with the following additional requirements, unless the Trustee has been furnished with an Opinion of Counsel addressed to the Trustee to the effect that the failure of the Trust to comply with the requirements of this Section 10.02 will not (i) result in the imposition of taxes on “prohibited transactions” as defined in Section 860F of the Code on any REMIC or (ii) cause any REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding:
 
(i)  within 90 days prior to the final Distribution Date, at the written direction of the Depositor, the Trustee, as agent for the respective Tax Matters Persons, shall adopt a plan of complete liquidation of each REMIC, in the case of a termination under Subsection 10.01(a)(i), provided to it by the Depositor, which meets the requirements of a “qualified liquidation” under Section 860F of the Code and any regulations thereunder; and
 
(ii)  the Depositor 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.
 
(b)  By their acceptance of the Residual Certificates, the Holders thereof hereby (i) agree to adopt such a plan of complete liquidation of the related REMIC upon the written request of the Depositor, and to take such action in connection therewith as may be reasonably requested by the Depositor, and (ii) appoint the Depositor as their attorney-in-fact, with full power of substitution, for purposes of adopting such a plan of complete liquidation. The Trustee shall adopt such plan of liquidation by filing the appropriate statement on the final tax return of each REMIC. Upon complete liquidation or final distribution of all of the assets of the Trust Fund, the Trust Fund and each REMIC shall terminate.
 
 
ARTICLE XI
[RESERVED]
 
 
ARTICLE XII
MISCELLANEOUS PROVISIONS
 
Section 12.01  Intent of Parties.
 
The parties intend that each of REMIC I, REMIC II and REMIC III shall be treated as a REMIC for federal income tax purposes and that the provisions of this Agreement should be construed in furtherance of this intent.
 
Section 12.02  Amendment.
 
(a)  This Agreement may be amended from time to time by the Depositor, the Master Servicer and the Trustee, without notice to or the consent of any of the Certificateholders, to cure any ambiguity, to correct or supplement any provisions herein or therein that may be defective or inconsistent with any other provisions herein or therein, to comply with any changes in the Code, to revise any provisions to reflect the obligations of the parties to this agreement as they relate to Regulation AB or to make any other provisions with respect to matters or questions arising under this Agreement which shall not be inconsistent with the provisions of this Agreement; provided, however, that such action shall not, as evidenced by an Opinion of Independent Counsel, addressed to the Trustee, adversely affect in any material respect the interests of any Certificateholder.
 
(b)  This Agreement may also be amended from time to time by the Master Servicer, the Depositor and the Trustee, with the consent of the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund or of the applicable Class or Classes, if such amendment affects only such Class or Classes, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Certificateholders; provided, however, that no such amendment shall (i) reduce in any manner the amount of, or delay the timing of, payments received on Mortgage Loans 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 the Holders of which are required to consent to any such amendment, without the consent of the Holders of all Certificates then outstanding, or (iii) cause any REMIC to fail to qualify as a REMIC for federal income tax purposes, as evidenced by an Opinion of Independent Counsel addressed to the Trustee which shall be provided to the Trustee other than at the Trustee’s expense. Notwithstanding any other provision of this Agreement, for purposes of the giving or withholding of consents pursuant to this Section 12.02(b), Certificates registered in the name of or held for the benefit of the Depositor, the Master Servicer, or the Trustee or any Affiliate thereof shall be entitled to vote their Fractional Undivided Interests with respect to matters affecting such Certificates.
 
(c)  Promptly after the execution of any such amendment, the Trustee shall furnish a copy of such amendment or written notification of the substance of such amendment to each Certificateholder, with a copy to the Rating Agencies.
 
(d)  In the case of an amendment under Subsection 12.02(b) above, it shall not be necessary for the Certificateholders to approve the particular form of such an amendment. Rather, it shall be sufficient if the Certificateholders approve the substance of the amendment. 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)  Prior to the execution of any amendment to this Agreement, the Trustee shall be entitled to receive and rely upon an Opinion of Counsel addressed to the Trustee stating that the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent to such amendment have been satisfied. The Trustee may, but shall not be obligated to, enter into any such amendment which affects the Trustee’s or the Trustee’s own respective rights, duties or immunities under this Agreement.
 
Section 12.03  Recordation of Agreement.
 
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 Mortgaged Properties are situated, and in any other appropriate public recording office or elsewhere. The Depositor shall effect such recordation, at the expense of the Trust upon the request in writing of a Certificateholder, but only if such direction is accompanied by an Opinion of Counsel (provided at the expense of the Certificateholder requesting recordation) to the effect that such recordation would materially and beneficially affect the interests of the Certificateholders or is required by law.
 
Section 12.04  Limitation on Rights of Certificateholders.
 
(a)  The death or incapacity of any Certificateholder shall not terminate this Agreement or the Trust, 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, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.
 
(b)  Except as expressly provided in this Agreement, no Certificateholders shall have any right to vote or in any manner otherwise control the operation and management of the Trust, 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 establish the Certificateholders from time to time as partners or members of an association; nor shall any Certificateholders 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, under or with respect to this Agreement against the Depositor, the Trustee, the Master Servicer or any successor to any such parties unless (i) such Certificateholder previously shall have given to the Trustee a written notice of a continuing default, as herein provided, (ii) the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund 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 and expenses and liabilities to be incurred therein or thereby, and (iii) 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.
 
(d)  No one or more Certificateholders shall have any right by virtue of any provision of this Agreement to affect the rights of any other Certificateholders or to obtain or seek to obtain priority or preference over any other such Certificateholder, or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit of all Certificateholders. For the protection and enforcement of the provisions of this Section 12.04, each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.
 
Section 12.05  Acts of Certificateholders.
 
(a)  Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Certificateholders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is expressly required, to the Depositor. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement and conclusive in favor of the Trustee and the Depositor, if made in the manner provided in this Section 12.05.
 
(b)  The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his or her individual capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority. The fact and date of the execution of any such instrument or writing, or the authority of the individual executing the same, may also be proved in any other manner which the Trustee deems sufficient.
 
(c)  The ownership of Certificates (notwithstanding any notation of ownership or other writing on such Certificates, except an endorsement in accordance with Section 5.02 made on a Certificate presented in accordance with Section 5.04) shall be proved by the Certificate Register, and neither the Trustee, the Depositor, the Master Servicer nor any successor to any such parties shall be affected by any notice to the contrary.
 
(d)  Any request, demand, authorization, direction, notice, consent, waiver or other action of the holder of any Certificate shall bind every future holder of the same Certificate and the holder of every Certificate issued upon the registration of transfer or exchange thereof, if applicable, or in lieu thereof with respect to anything done, omitted or suffered to be done by the Trustee, the Depositor, the Master Servicer or any successor to any such party in reliance thereon, whether or not notation of such action is made upon such Certificates.
 
(e)  In determining whether the Holders of the requisite percentage of Certificates evidencing Fractional Undivided Interests have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Certificates owned by the Trustee, the Depositor, the Master Servicer or any Affiliate thereof shall be disregarded, except as otherwise provided in Section 12.02(b) and except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Certificates which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Certificates which have been pledged in good faith to the Trustee, the Depositor, the Master Servicer or any Affiliate thereof may be regarded as outstanding if the pledgor establishes to the satisfaction of the Trustee the pledgor’s right to act with respect to such Certificates and that the pledgor is not an Affiliate of the Trustee, the Depositor, or the Master Servicer, as the case may be.
 
Section 12.06  Governing Law.
 
THIS AGREEMENT AND THE CERTIFICATES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS RULES (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW, WHICH THE PARTIES HERETO EXPRESSLY RELY UPON IN THE CHOICE OF SUCH LAW AS THE GOVERNING LAW HEREUNDER) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
 
Section 12.07  Notices.
 
All demands and notices hereunder shall be in writing and shall be deemed given when delivered at (including delivery by facsimile) or mailed by registered mail, return receipt requested, postage prepaid, or by recognized overnight courier, to (i) in the case of the Depositor, 383 Madison Avenue, New York, New York 10179, Attention: Vice President-Servicing, telecopier number: (212) 272-5591, or to such other address as may hereafter be furnished to the other parties hereto in writing; (ii) in the case of the Trustee, at its Corporate Trust Office, or such other address as may hereafter be furnished to the other parties hereto in writing; (iii) in the case of the Seller, EMC Mortgage Corporation, 2780 Lake Vista Drive, Lewisville, Texas 75067 (Facsimile: (469-759-4714), attention: President or General Counsel, (iv) in the case of the Master Servicer , EMC Mortgage Corporation, 2780 Lake Vista Drive, Lewisville, Texas 75067 (Facsimile: (214) 626-4889), attention: Michelle Viner or such other address as may be hereafter furnished to the other parties hereto by the Master Servicer in writing; and (v) in the case of the Rating Agencies, Fitch, Inc., One State Street Plaza, New York, NY 10004 and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc., 55 Water Street, New York, New York 10041, or such other address as may hereafter be furnished to the other parties hereto in writing. Any notice delivered to the Depositor, the Master Servicer or the Trustee under this Agreement shall be effective only upon receipt. Any notice required or permitted to be mailed to a Certificateholder, unless otherwise provided herein, shall be given by first-class mail, postage prepaid, at the address of such Certificateholder 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 when mailed, whether or not the Certificateholder receives such notice.
 
Section 12.08  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 severed 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 12.09  Successors and Assigns.
 
The provisions of this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto.
 
Section 12.10  Article and Section Headings.
 
The article and section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.
 
Section 12.11  Counterparts.
 
This Agreement may be executed in two or more counterparts each of which when so executed and delivered shall be an original but all of which together shall constitute one and the same instrument.
 
Section 12.12  Notice to Rating Agencies.
 
The article and section headings herein are for convenience of reference only, and shall not limited or otherwise affect the meaning hereof. The Trustee shall promptly provide notice to each Rating Agency with respect to each of the following of which a Responsible Officer of the Trustee has actual knowledge:
 
1. Any material change or amendment to this Agreement or the Servicing Agreement;
 
2. The occurrence of any Event of Default that has not been cured;
 
3. The resignation or termination of the Master Servicer or the Trustee;
 
4. The repurchase or substitution of Mortgage Loans;
 
5. The final payment to Certificateholders; and
 
6. Any change in the location of the Distribution Account.
 
IN WITNESS WHEREOF, the Depositor, the Trustee and the Master Servicer have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
 
             
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., as Depositor
                           
                           
             
By:
      /s/ Joseph T. Jurkowski, Jr.
               
Name: Joseph T. Jurkowski, Jr.
               
Title:  Vice President
                           
                           
             
WELLS FARGO BANK, N.A., as Trustee
                           
                           
             
By:
    /s/   Stacey M. Taylor
               
Name: Stacey M. Taylor
               
Title:   Vice President
                           
                           
             
EMC MORTGAGE CORPORATION,
as Master Servicer and Seller
                           
                           
             
By:
   /s/    Jenna Kemp
               
Name: Jenna Kemp
               
Title:   Executive Vice President
                           
                           








 
 
STATE OF NEW YORK
)
 
)  ss.:
COUNTY OF NEW YORK
)
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared ___________________________, known to me to be a Vice President of Structured Asset Mortgage Investments II Inc., the corporation 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.
 
   
 
Notary Public


[Notarial Seal]


 
 
STATE OF TEXAS
)
 
)  ss.:
COUNTY OF DALLAS
)
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared ________________________, known to me to be a EMC Mortgage Corporation, the entity that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such entity 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.
 
   
 
Notary Public


[Notarial Seal]


 
 
STATE OF MARYLAND
)
 
)  ss.:
COUNTY OF HOWARD
)
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared _____________________________, known to me to be a(n) _____________________of Wells Fargo Bank, N.A., the entity that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such entity 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.
 
   
 
Notary Public


[Notarial Seal]
 

 
 
 
 

 
 
 
 
EXHIBIT A-1
 
FORM OF CLASS A CERTIFICATES AND CLASS X CERTIFICATES
 
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”).
 
[FOR THE CLASS [_-A-_]] [THE CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DECREASED BY THE PRINCIPAL PAYMENTS HEREON AND REALIZED LOSSES ALLOCABLE HERETO. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY OF THE TRUSTEE NAMED HEREIN.]
 
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED WILL BE REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT WILL BE MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

Certificate No. 1
[Variable] Pass-Through Rate
   
Class [_-A-_] [-X-] Senior
 
   
Date of Pooling and Servicing Agreement
and Cut-off Date:
April 1, 2007
Aggregate Initial [Current Principal] [Notional] Amount of this Senior Certificate as of the Cut-off Date: $[_____________]
   
First Distribution Date:
May 25, 2007
Initial [Current Principal] [Notional] Amount of this Senior Certificate as of the Cut-off Date: $[_____________]
   
Master Servicer:
EMC Mortgage Corporation
CUSIP: [____________]
   
Assumed Final Distribution Date:
May 25, 2047
 
   
BEAR STEARNS ARM TRUST 2007-3
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a fractional undivided interest in the distributions allocable to the Class [_-[A]-_] [-X-] Certificates with respect to a Trust Fund consisting primarily of a pool of adjustable rate mortgage loans secured by first liens on one-to-four family residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee referred to below or any of their affiliates or any other person. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee or any of their affiliates or any other person. None of Structured Asset Mortgage Investments II Inc., the Master Servicer 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 Cede & Co. is the registered owner of the Fractional Undivided Interest evidenced hereby in the beneficial ownership interest of Certificates of the same Class as this Certificate in a trust (the “Trust Fund”) primarily consisting of adjustable rate mortgage loans secured by first liens on one- to four- family residential properties (collectively, the “Mortgage Loans”) sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. EMC will act as master servicer of the Mortgage Loans (the “Master Servicer,” which term includes any successors thereto under the Agreement referred to below). The Trust Fund was created pursuant to the Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the “Agreement”), among SAMI II, as depositor (the “Depositor”), EMC, as Master Servicer and seller, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, capitalized terms used herein shall have the meaning ascribed to them 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 its acceptance hereof assents and by which such Holder is bound.
 
Interest on this Certificate will accrue during the month prior to the month in which a Distribution Date (as hereinafter defined) occurs on the [Current Principal] [Notional] Amount hereof at a per annum rate equal to the Pass-Through Rate as described in the Agreement. The Trustee will distribute on the 25th day of each month, or, if such 25th day is not a Business Day, the immediately following Business Day (each, a “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 Business Day of the calendar month preceding the month of such Distribution Date, an amount equal to the product of the Fractional Undivided Interest evidenced by this Certificate and the amount (of interest [and principal], if any) required to be distributed to the Holders of Certificates of the same Class as this Certificate. The Assumed Final Distribution Date is the Distribution Date in the month immediately following the month of the latest scheduled maturity date of any Mortgage Loan and is not likely to be the date on which the [Current Principal] [Notional] Amount of this Class of Certificates will be reduced to zero.
 
Distributions on this Certificate will be made by the Trustee by check mailed to the address of the Person entitled thereto as such name and address shall appear on the Certificate Register or, if such Person so requests by notifying the Trustee in writing as specified in the Agreement, by wire transfer. Notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Trustee 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 and designated in such notice. The Initial [Current Principal] [Notional] Amount of this Certificate is set forth above. [The Current Principal Amount hereof will be reduced to the extent of distributions allocable to principal hereon and any Realized Losses allocable hereto.]
 
This Certificate is one of a duly authorized issue of Certificates designated as set forth on the face hereof (the “Certificates”), issued in nineteen Classes. The Certificates, in the aggregate, evidence the entire beneficial ownership interest in the Trust Fund formed pursuant to the Agreement.
 
The Certificateholder, by its acceptance of this Certificate, agrees that it will look solely to the Trust Fund for payment hereunder and that the Trustee is not liable to the Certificateholders for any amount payable under this Certificate or the Agreement or, except as expressly provided in the Agreement, subject to any liability under the Agreement.
 
This Certificate does not purport to summarize the Agreement and reference is made to the Agreement for the interests, rights and limitations of rights, benefits, obligations and duties evidenced hereby, and the rights, duties and immunities of the Trustee.
 
The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement from time to time by the parties thereto with the consent of the Holders of Certificates, evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund (or in certain cases, Holders of Certificates of affected Classes evidencing such percentage of the Fractional Undivided Interests thereof). 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 lieu hereof whether or not notation of such consent is made upon this Certificate. The Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Holders of any of the Certificates.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable with the Trustee upon surrender of this Certificate for registration of transfer at the offices or agencies maintained by the Trustee for such purposes, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates in authorized denominations representing a like aggregate Fractional Undivided Interest will be issued to the designated transferee.
 
The Certificates are issuable only as registered Certificates without coupons in the Classes and denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for one or more new Certificates evidencing the same Class and in the same aggregate Fractional Undivided Interest, as requested by the Holder surrendering the same.
 
No service charge will be made to the Certificateholders for any such registration of transfer, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Depositor, the Master Servicer, the Trustee and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Trustee or any such agent shall be affected by notice to the contrary.
 
The obligations created by the Agreement and the Trust Fund created thereby (other than the obligations to make payments to Certificateholders with respect to the termination of the Agreement) shall terminate upon the earlier of (i) the later of the (A) final payment or other liquidation (or Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and the remittance of all funds due under the Agreement, or (ii) the optional repurchase by the party named in the Agreement of all the Mortgage Loans and other assets of the Trust Fund in accordance with the terms of the Agreement. Such optional repurchase may be made only on or after the Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans is less than the percentage of the aggregate Outstanding Principal Balance specified in the Agreement of the Mortgage Loans at the Cut-off Date. The exercise of such right will effect the early retirement of the Certificates. In no event, however, will the Trust Fund created by the Agreement continue beyond the earlier of (i) the expiration of 21 years after the death of certain persons identified in the Agreement and (ii) the “latest possible maturity date” for the Certificates (other than the Class R Certificates) specified in Section 5.01(d) of the Agreement.
 
Unless this Certificate has been countersigned by an authorized signatory of the Trustee 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: April 30, 2007
 
WELLS FARGO BANK, N.A.
Not in its individual capacity but solely as Trustee
                           
                           
             
By:
 
               
Authorized Signatory
 
CERTIFICATE OF AUTHENTICATION
 
This is one of the Class [_-[A]-_] [-X-] Certificates referred to in the within-mentioned Agreement.
 
             
WELLS FARGO BANK, N.A.
Authorized signatory of Wells Fargo Bank N.A., not in its individual capacity but solely as Trustee
                           
                           
             
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 Fractional Undivided Interest evidenced by the within Mortgage 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 Trustee 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:
 
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
 
assignee named above, or
 
its agent.
 
 




EXHIBIT A-2
 
FORM OF CLASS B CERTIFICATES
 
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE SENIOR CERTIFICATES [AND] [THE CLASS B-1 CERTIFICATES][,] [AND] [THE CLASS B-2 CERTIFICATES][,] [AND] [THE CLASS B-3 CERTIFICATES][,] [AND] [THE CLASS B-4 CERTIFICATES][,] [AND] [THE CLASS B-5 CERTIFICATES] [AND] [THE CLASS B-6 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”).
 
THE CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DECREASED BY THE PRINCIPAL PAYMENTS HEREON AND ANY REALIZED LOSSES ALLOCABLE HERETO. ACCORDINGLY, FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE CURRENT PRINCIPAL AMOUNT OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY OF THE TRUSTEE NAMED HEREIN.
 
[FOR CLASS B-1, CLASS B-2, CLASS B-3 AND CLASS B-4] [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, ANY CERTIFICATE ISSUED WILL BE REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT WILL BE MADE TO CEDE & CO. ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]
 
[FOR CLASS B-1, CLASS B-2, CLASS B-3 AND CLASS B-4] [EACH BENEFICIAL OWNER OF THIS CERTIFICATE OR ANY INTEREST HEREIN SHALL BE DEEMED TO HAVE MADE THE REPRESENTATIONS SET FORTH IN SECTION 5.07 OF THE AGREEMENT.]
 
[FOR CLASS B-5, CLASS B-6 AND CLASS B-7] [THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE 501(A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION.]
 
[FOR CLASS B-5, CLASS B-6 AND CLASS B-7] [THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE TRANSFEREE CERTIFIES OR REPRESENTS THAT THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (I) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE TRUSTEE, OR THE MASTER SERVICER, WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS THE OPINION SPECIFIED IN SECTION 5.07 OF THE AGREEMENT IS PROVIDED.]

Certificate No. 1
Variable Pass-Through Rate
   
Class [B-1][B-2][B-3][B-4][B-5][B-6][B-7] Subordinate
 
   
Date of Pooling and Servicing Agreement
and Cut-off Date:
April 1, 2007
Aggregate Initial Current Principal Amount of this Subordinate Certificate as of the Cut-off Date: $[_________]
   
First Distribution Date:
May 25, 2007
Initial Current Principal Amount of this Subordinate Certificate as of the Cut-off Date: $[_________]
   
Master Servicer:
EMC Mortgage Corporation
CUSIP: [____________]
   
Assumed Final Distribution Date:
May 25, 2047
 
   
BEAR STEARNS ARM TRUST 2007-3
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a fractional undivided interest in the distributions allocable to the Class [B-1][B-2][B-3][B-4][B-5][B-6][B-7] Certificates with respect to a Trust Fund consisting primarily of a pool of adjustable rate mortgage loans secured by first liens on one-to-four family residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee referred to below or any of their affiliates or any other person. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee or any of their affiliates or any other person. None of Structured Asset Mortgage Investments II Inc., the Master Servicer 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 [Cede & Co.][ Bear, Stearns Securities Corp.] is the registered owner of the Fractional Undivided Interest evidenced hereby in the beneficial ownership interest of Certificates of the same Class as this Certificate in a trust (the “Trust Fund”) primarily consisting of adjustable rate mortgage loans secured by first liens on one- to four- family residential properties (collectively, the “Mortgage Loans”) sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. EMC will act as master servicer of the Mortgage Loans (the “Master Servicer,” which term includes any successors thereto under the Agreement referred to below). The Trust Fund was created pursuant to the Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the “Agreement”), among SAMI II, as depositor (the “Depositor”), EMC, as Master Servicer and seller, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, capitalized terms used herein shall have the meaning ascribed to them 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 its acceptance hereof assents and by which such Holder is bound.
 
Interest on this Certificate will accrue during the month prior to the month in which a Distribution Date (as hereinafter defined) occurs on the Current Principal Amount hereof at a per annum rate equal to the Pass-Through Rate as described in the Agreement. The Trustee will distribute on the 25th day of each month, or, if such 25th day is not a Business Day, the immediately following Business Day (each, a “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 Business Day of the calendar month preceding the month of such Distribution Date, an amount equal to the product of the Fractional Undivided Interest evidenced by this Certificate and the amount (of interest and principal, if any) required to be distributed to the Holders of Certificates of the same Class as this Certificate. The Assumed Final Distribution Date is the Distribution Date in the month immediately following the month of the latest scheduled maturity date of any Mortgage Loan and is not likely to be the date on which the Current Principal Amount of this Class of Certificates will be reduced to zero.
 
Distributions on this Certificate will be made by the Trustee by check mailed to the address of the Person entitled thereto as such name and address shall appear on the Certificate Register or, if such Person so requests by notifying the Trustee in writing as specified in the Agreement, by wire transfer. Notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Trustee 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 and designated in such notice. The Initial Current Principal Amount of this Certificate is set forth above. The Current Principal Amount hereof will be reduced to the extent of distributions allocable to principal hereon and any Realized Losses allocable hereto.
 
[For Class B-5, Class B-6 and Class B-7] [No transfer of this Class [B-5][B-6][B-7] Certificate will be made unless such transfer is (i) 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 and (ii) made in accordance with Section 5.02 of the Agreement. In the event that such transfer is to be made the Trustee shall register such transfer if, (i) made to a transferee who has provided the Trustee with evidence as to its QIB status; or (ii) (A) the transferor has advised the Trustee in writing that the Certificate is being transferred to an Institutional Accredited Investor and (B) prior to such transfer the transferee furnishes to the Trustee an Investment Letter; provided that if based upon an Opinion of Counsel to the effect that (A) and (B) above are not sufficient to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable laws, the Trustee shall as a condition of the registration of any such transfer require the transferor to furnish such other certifications, legal opinions or other information prior to registering the transfer of this Certificate as shall be set forth in such Opinion of Counsel.]
 
[For Class B-1, Class B-2, Class B-3 and Class B-4] [Each beneficial owner of this Certificate or any interest herein shall be deemed to have made the representations set forth in Section 5.07 of the Agreement.]
 
[For Class B-5, Class B-7 and Class B-7] [This Certificate may not be acquired directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as amended, unless the transferee certifies or represents that the proposed transfer and holding of a Certificate and the servicing, management and operation of the trust and its assets: (i) will not result in any prohibited transaction which is not covered under an individual or class prohibited transaction exemption, including, but not limited to, Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 or PTCE 96-23 and (ii) will not give rise to any additional obligations on the part of the Depositor, the Master Servicer or the Trustee, which will be deemed represented by an owner of a Book-Entry Certificate or a Global Certificate or unless the opinion specified in section 5.07 of the Agreement is provided.]
 
This Certificate is one of a duly authorized issue of Certificates designated as set forth on the face hereof (the “Certificates”), issued in nineteen Classes. The Certificates, in the aggregate, evidence the entire beneficial ownership interest in the Trust Fund formed pursuant to the Agreement.
 
The Certificateholder, by its acceptance of this Certificate, agrees that it will look solely to the Trust Fund for payment hereunder and that the Trustee is not liable to the Certificateholders for any amount payable under this Certificate or the Agreement or, except as expressly provided in the Agreement, subject to any liability under the Agreement.
 
This Certificate does not purport to summarize the Agreement and reference is made to the Agreement for the interests, rights and limitations of rights, benefits, obligations and duties evidenced hereby, and the rights, duties and immunities of the Trustee.
 
The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement from time to time by the parties thereto with the consent of the Holders of Certificates, evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund (or in certain cases, Holders of Certificates of affected Classes evidencing such percentage of the Fractional Undivided Interests thereof). 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 lieu hereof whether or not notation of such consent is made upon this Certificate. The Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Holders of any of the Certificates.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable with the Trustee upon surrender of this Certificate for registration of transfer at the offices or agencies maintained by the Trustee for such purposes, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates in authorized denominations representing a like aggregate Fractional Undivided Interest will be issued to the designated transferee.
 
The Certificates are issuable only as registered Certificates without coupons in the Classes and denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for one or more new Certificates evidencing the same Class and in the same aggregate Fractional Undivided Interest, as requested by the Holder surrendering the same.
 
No service charge will be made to the Certificateholders for any such registration of transfer, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Depositor, the Master Servicer, the Trustee and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Trustee or any such agent shall be affected by notice to the contrary.
 
The obligations created by the Agreement and the Trust Fund created thereby (other than the obligations to make payments to Certificateholders with respect to the termination of the Agreement) shall terminate upon the earlier of (i) the later of the (A) final payment or other liquidation (or Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and the remittance of all funds due under the Agreement, or (ii) the optional repurchase by the party named in the Agreement of all the Mortgage Loans and other assets of the Trust Fund in accordance with the terms of the Agreement. Such optional repurchase may be made only on or after the Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans is less than the percentage of the aggregate Outstanding Principal Balance specified in the Agreement of the Mortgage Loans at the Cut-off Date. The exercise of such right will effect the early retirement of the Certificates. In no event, however, will the Trust Fund created by the Agreement continue beyond the earlier of (i) the expiration of 21 years after the death of certain persons identified in the Agreement and (ii) the “latest possible maturity date” for the Certificates (other than the Class R Certificates) specified in Section 5.01(d) of the Agreement.
 
Unless this Certificate has been countersigned by an authorized signatory of the Trustee 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: April 30, 2007
 
WELLS FARGO BANK, N.A.
Not in its individual capacity but solely as Trustee
                           
                           
             
By:
 
               
Authorized Signatory

CERTIFICATE OF AUTHENTICATION
 
This is one of the Class [B-1][B-2][B-3][B-4][B-5][B-6][B-7] Certificates referred to in the within-mentioned Agreement.
 
             
WELLS FARGO BANK, N.A.
Authorized signatory of Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee
                           
                           
             
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 Fractional Undivided Interest evidenced by the within Mortgage 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 Trustee 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
 
assignee named above, or
 
its agent.
 





EXHIBIT A-3
 
FORM OF CLASS R CERTIFICATES
 
THIS CERTIFICATE MAY NOT BE HELD BY OR TRANSFERRED TO A NON-UNITED STATES PERSON, A PUBLICLY TRADED PARTNERSHIP 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”).
 
THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED TRANSFEREE PROVIDES THE TRUSTEE WITH AN OPINION OF COUNSEL FOR THE BENEFIT OF THE DEPOSITOR, THE TRUSTEE AND THE MASTER SERVICER AND ON WHICH THEY MAY RELY (WHICH SHALL NOT BE AT THE EXPENSE OF THE TRUSTEE) WHICH IS ACCEPTABLE TO THE TRUSTEE, THAT THE PURCHASE OF THIS CERTIFICATE WILL NOT RESULT IN OR CONSTITUTE A NONEXEMPT PROHIBITED TRANSACTION, IS PERMISSIBLE UNDER APPLICABLE LAW AND WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE SELLER, THE MASTER SERVICER, ANY SERVICER OR THE TRUSTEE.
 
ANY RESALE, TRANSFER OR OTHER DISPOSITION OF THIS CERTIFICATE MAY BE MADE ONLY IF THE PROPOSED TRANSFEREE PROVIDES A TRANSFER AFFIDAVIT TO THE DEPOSITOR 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) SUCH TRANSFEREE IS A UNITED STATES PERSON UNDER SECTION 7701 OF THE CODE, (3) NO PURPOSE OF SUCH TRANSFER IS TO IMPEDE THE ASSESSMENT OR COLLECTION OF TAX AND (4) 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 A NON-UNITED STATES PERSON OR AN AGENT OF A DISQUALIFIED ORGANIZATION OR A NON-UNITED STATES PERSON, 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. 1
 
   
Class [R-I] [R-II] [R-III]
 
   
Date of Pooling and Servicing Agreement
and Cut-off Date:
April 1, 2007
Aggregate Initial Current Principal Amount of this Certificate as of the Cut-off Date:
$___________
   
First Distribution Date:
May 25, 2007
Initial Current Principal Amount of this Certificate as of the Cut-off Date: $_________
   
Master Servicer:
EMC Mortgage Corporation
CUSIP: [_____________]
   
Assumed Final Distribution Date:
May 25, 2047
 
   
BEAR STEARNS ARM TRUST 2007-3
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2007-3
 
evidencing a fractional undivided interest in the distributions allocable to the Class [R-I] [R-II] [R-III] Certificates with respect to a Trust Fund consisting primarily of a pool of adjustable rate mortgage loans secured by first liens on one-to-four family residential properties sold by STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
 
This Certificate is payable solely from the assets of the Trust Fund, and does not represent an obligation of or interest in Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee referred to below or any of their affiliates or any other person. Neither this Certificate nor the underlying Mortgage Loans are guaranteed or insured by any governmental entity or by Structured Asset Mortgage Investments II Inc., the Master Servicer or the Trustee or any of their affiliates or any other person. None of Structured Asset Mortgage Investments II Inc., the Master Servicer 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 Bear, Stearns Securities Corp. is the registered owner of the Fractional Undivided Interest evidenced hereby in the beneficial ownership interest of Certificates of the same Class as this Certificate in a trust (the “Trust Fund”) primarily consisting of adjustable rate mortgage loans secured by first liens on one- to four- family residential properties (collectively, the “Mortgage Loans”) sold by Structured Asset Mortgage Investments II Inc. (“SAMI II”). The Mortgage Loans were sold by EMC Mortgage Corporation (“EMC”) to SAMI II. EMC will act as master servicer of the Mortgage Loans (the “Master Servicer,” which term includes any successors thereto under the Agreement referred to below). The Trust Fund was created pursuant to the Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the “Agreement”), among SAMI II, as depositor (the “Depositor”), EMC, as Master Servicer and seller, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), a summary of certain of the pertinent provisions of which is set forth hereafter. To the extent not defined herein, capitalized terms used herein shall have the meaning ascribed to them 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 its acceptance hereof assents and by which such Holder is bound.
 
The Trustee will distribute on the 25th day of each month, or, if such 25th day is not a Business Day, the immediately following Business Day (each, a “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 Business Day of the calendar month preceding the month of such Distribution Date, an amount equal to the product of the Fractional Undivided Interest evidenced by this Certificate and the amount (of principal, if any) required to be distributed to the Holders of Certificates of the same Class as this Certificate. The Assumed Final Distribution Date is the Distribution Date in the month immediately following the month of the latest scheduled maturity date of any Mortgage Loan and is not likely to be the date on which the Current Principal Amount of this Class of Certificates will be reduced to zero.
 
Distributions on this Certificate will be made by the Trustee by check mailed to the address of the Person entitled thereto as such name and address shall appear on the Certificate Register or, if such Person so requests by notifying the Trustee in writing as specified in the Agreement, by wire transfer. Notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Trustee 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 and designated in such notice. The Initial Current Principal Amount of this Certificate is set forth above. The Current Principal Amount hereof will be reduced to the extent of distributions allocable to principal hereon and any Realized Losses allocable hereto.
 
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 Depositor and 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 Depositor 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 Depositor, which purchaser may be the Depositor, or any affiliate of the Depositor, on such terms and conditions as the Depositor may choose.
 
This certificate may not be acquired directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as amended, unless the proposed transferee provides the Trustee with an opinion of counsel for the benefit of the Depositor, Master Servicer and the Trustee and on which they may rely (which shall not be at the expense of the Trustee) which is acceptable to the Trustee, that the purchase of this Certificate will not result in or constitute a nonexempt prohibited transaction, is permissible under applicable law and will not give rise to any additional obligations on the part of the Seller, the Master Servicer, any Servicer or the Trustee.
 
This Certificate is one of a duly authorized issue of Certificates designated as set forth on the face hereof (the “Certificates”), issued in nineteen Classes. The Certificates, in the aggregate, evidence the entire beneficial ownership interest in the Trust Fund formed pursuant to the Agreement.
 
The Certificateholder, by its acceptance of this Certificate, agrees that it will look solely to the Trust Fund for payment hereunder and that the Trustee is not liable to the Certificateholders for any amount payable under this Certificate or the Agreement or, except as expressly provided in the Agreement, subject to any liability under the Agreement.
 
This Certificate does not purport to summarize the Agreement and reference is made to the Agreement for the interests, rights and limitations of rights, benefits, obligations and duties evidenced hereby, and the rights, duties and immunities of the Trustee.
 
The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor, the Master Servicer and the Trustee and the rights of the Certificateholders under the Agreement from time to time by the parties thereto with the consent of the Holders of Certificates, evidencing Fractional Undivided Interests aggregating not less than 51% of the Trust Fund (or in certain cases, Holders of Certificates of affected Classes evidencing such percentage of the Fractional Undivided Interests thereof). 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 lieu hereof whether or not notation of such consent is made upon this Certificate. The Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Holders of any of the Certificates.
 
As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable with the Trustee upon surrender of this Certificate for registration of transfer at the offices or agencies maintained by the Trustee for such purposes, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates in authorized denominations representing a like aggregate Fractional Undivided Interest will be issued to the designated transferee.
 
The Certificates are issuable only as registered Certificates without coupons in the Classes and denominations specified in the Agreement. As provided in the Agreement and subject to certain limitations therein set forth, this Certificate is exchangeable for one or more new Certificates evidencing the same Class and in the same aggregate Fractional Undivided Interest, as requested by the Holder surrendering the same.
 
No service charge will be made to the Certificateholders for any such registration of transfer, but the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. The Depositor, the Master Servicer, the Trustee and any agent of any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Trustee or any such agent shall be affected by notice to the contrary.
 
The obligations created by the Agreement and the Trust Fund created thereby (other than the obligations to make payments to Certificateholders with respect to the termination of the Agreement) shall terminate upon the earlier of (i) the later of the (A) final payment or other liquidation (or Advance with respect thereto) of the last Mortgage Loan remaining in the Trust Fund and (B) disposition of all property acquired upon foreclosure or deed in lieu of foreclosure of any Mortgage Loan and the remittance of all funds due under the Agreement, or (ii) the optional repurchase by the party named in the Agreement of all the Mortgage Loans and other assets of the Trust Fund in accordance with the terms of the Agreement. Such optional repurchase may be made only on or after the Distribution Date on which the aggregate unpaid principal balance of the Mortgage Loans is less than the percentage of the aggregate Outstanding Principal Balance specified in the Agreement of the Mortgage Loans at the Cut-off Date. The exercise of such right will effect the early retirement of the Certificates. In no event, however, will the Trust Fund created by the Agreement continue beyond the earlier of (i) the expiration of 21 years after the death of certain persons identified in the Agreement and (ii) the “latest possible maturity date” for the Certificates (other than the Class R Certificates) specified in Section 5.01(d) of the Agreement.
 
Unless this Certificate has been countersigned by an authorized signatory of the Trustee 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: April 30, 2007
 
WELLS FARGO BANK, N.A.
Not in its individual capacity but solely as Trustee
                           
                           
             
By:
 
               
Authorized Signatory

CERTIFICATE OF AUTHENTICATION
 
This is one of the Class [R-I] [R-II] [R-III] Certificates referred to in the within-mentioned Agreement.
             
WELLS FARGO BANK, N.A.
Authorized signatory of Wells Fargo Bank, N.A., not in its individual capacity but solely as Trustee
                           
                           
             
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 Fractional Undivided Interest evidenced by the within Mortgage 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 Trustee 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
 
assignee named above, or
 
its agent.
 




EXHIBIT B
 
MORTGAGE LOAN SCHEDULE
 
 
           LOAN_SEQ           CITY1                                                     ZIP_CODE
           17020574         OCEANSIDE                                                    92057
           17020737         DALY CITY                                                    94014
           17020575         SAN JOSE                                                     95123
           17020498         LAS VEGAS                                                    89135
           17020499         SUNNYVALE                                                    94089
           17020820         SANTA BARBARA                                                93110
           17020821         PONTE VEDRA BEACH                                            32082
           17020660         ALPHARETTA                                                   30005
           17020822         REHOBOTH BEACH                                               19971
           17020661         NIPOMO                                                       93444
           17020823         LA CANADA FLINTRIDGE                                         91011
           17020662         PEORIA                                                       85383
           17020824         GOLETA                                                       93117
           17020663         PEORIA                                                       85383
           17020825         CHICAGO                                                      60647
           17020664         LAGUNA NIGUEL                                                92677
           17020826         FAIRFAX STATION                                              22039
           17020665         TUSTIN                                                       92782
           17020827         PALMDALE                                                     93551
           17020828         LONG BEACH                                                   90815
           17020667         FULLERTON                                                    92833
           17020829         BELLINGHAM                                                   98229
           17020668         CAMBRIA                                                      93428
           17020669         CORONA                                                       92883
           17020830         BOYNTON BEACH                                                33437
           17020831         SAN FRANCISCO                                                94112
           17020670         LA QUINTA                                                    92253
           17020832         NAPA                                                         94558
           17020833         TORRANCE                                                     90504
           17020671         SONOMA                                                       95476
           17020834         PASADENA                                                     91107
           17020672         SOQUEL                                                       95073
           17020835         PASADENA                                                     91104
           17020673         LOS ANGELES                                                  91403
           17020836         LOS ANGELES                                                  91040
           17020674         SANTA ANA                                                    92703
           17020837         CAMPBELL                                                     95008
           17020675         SCOTTSDALE                                                   85255
           17020838         ADAIRSVILLE                                                  30103
           17020676         LAS VEGAS                                                    89141
           17020839         MANHATTAN BEACH                                              90266
           17020677         SANTA ANA                                                    92707
           17020678         ANAHEIM                                                      92804
           17020679         PRESCOTT                                                     86305
           17020840         TEMECULA                                                     92591
           17020841         SOUTH SAN FRANCISCO                                          94080
           17020842         LOS ANGELES                                                  90025
           17020680         LONG BEACH                                                   90813
           17020843         VENICE                                                       90291
           17020681         POMONA                                                       91766
           17020844         LOS ANGELES                                                  90025
           17020682         FRESNO                                                       93722
           17020845         GLENDALE                                                     91203
           17020683         SENECA                                                       29672
           17020846         LOS ANGELES                                                  91356
           17020684         MESA                                                         85207
           17020685         RANCHO SANTA MARGARITA                                       92688
           17020848         GLENDALE                                                     91202
           17020686         LOS ANGELES                                                  90004
           17020849         SCOTTSDALE                                                   85262
           17020687         LA CRESCENTA AREA                                            91214
           17020688         SANTA CLARA                                                  95051
           17020689         SUISUN CITY                                                  94585
           17020850         OAK PARK                                                     91377
           17020657         BRENTWOOD                                                    94513
           17020495         MT VERNON                                                    98274
           17020819         TAHUYA                                                       98588
           17020658         PEORIA                                                       85383
           17020496         NEW CANAAN                                                   06840
           17020659         MISSION VIEJO                                                92692
           17020497         GEORGETOWN                                                   01833
           17020492         TUSTIN                                                       92782
           17020816         ROSEVILLE                                                    95747
           17020655         RANCHO MIRAGE                                                92270
           17020493         WOODBRIDGE                                                   22193
           17020817         WEST COVINA                                                  91791
           17020656         SANTA CLARA                                                  95051
           17020494         FRANKLIN                                                     37064
           17020812         ELLICOTT CITY                                                21043
           17020651         BROOMFIELD                                                   80020
           17020813         MESA                                                         85207
           17020814         MILTON                                                       02186
           17020652         BOULDER                                                      80301
           17020490         CORONA                                                       92881
           17020491         SAN DIEGO                                                    92129
           17020815         SANTA ROSA                                                   95401
           17020654         SANTA ROSA                                                   95404
           17020500         GREENWICH                                                    06831
           17020501         OCEAN ISLE BEACH                                             28469
           17020502         PHOENIX                                                      85018
           17020503         CHURCHVILLE                                                  18966
           17020504         GIG HARBOR                                                   98332
           17020505         HENDERSON                                                    89052
           17020506         OXNARD                                                       93030
           17020507         GILBERT                                                      85233
           17020508         SAN JOSE                                                     95135
           17020509         CUPERTINO                                                    95014
           17020510         HAYMARKET                                                    20169
           17020511         VAIL                                                         81657
           17020512         PETALUMA                                                     94954
           17020513         SANTA CRUZ                                                   95060
           17020514         BRISTOW                                                      20136
           17020515         PHOENIX                                                      85045
           17020516         BUENA PARK                                                   90621
           17020517         LAFAYETTE                                                    80026
           17020518         ALEXANDRIA                                                   22309
           17020519         KENSINGTON                                                   20895
           17020520         SAN JOSE                                                     95126
           17020521         SAN JOSE                                                     95128
           17020522         MESA                                                         85215
           17020523         MANASSAS                                                     20112
           17020524         CHANTILLY                                                    20152
           17020525         SAN JOSE                                                     95123
           17020526         NIPOMO                                                       93444
           17020527         SHINGLE SPRINGS                                              95682
           17020528         ALEXANDRIA                                                   22309
           17020529         ASHBURN                                                      20147
           17020530         ROCHESTER HILLS                                              48306
           17020531         CAMANO ISLAND                                                98282
           17020532         SAN CLEMENTE                                                 92673
           17020533         KENMORE                                                      98028
           17020534         CHICAGO                                                      60614
           17020535         LEXINGTON                                                    02421
           17020536         FORT MYERS                                                   33967
           17020537         GREEN BAY                                                    54311
           17020538         COLLEYVILLE                                                  76034
           17020539         MILLBRAE                                                     94030
           17020700         LOS ANGELES                                                  90015
           17020701         ANAHEIM                                                      92805
           17020702         RANCHO CUCAMONGA                                             91737
           17020540         SANTA CLARA                                                  95051
           17020703         PACIFIC BEACH                                                98571
           17020541         HUNTINGTON BEACH                                             92648
           17020704         PETALUMA                                                     94954
           17020542         SAN FRANCISCO                                                94116
           17020705         SAN JOSE                                                     95120
           17020543         LENEXA                                                       66220
           17020706         SALT LAKE CITY                                               84109
           17020544         BUENA PARK                                                   90621
           17020707         ROSEMOUNT                                                    55068
           17020545         NORTH BEND                                                   97459
           17020708         MARINA DEL REY                                               90292
           17020546         LOS ANGELES                                                  90039
           17020547         SAN CLEMENTE                                                 92673
           17020385         MEDFIELD                                                     02052
           17020548         ORO VALLEY                                                   85755
           17020386         SUNNYVALE                                                    94086
           17020549         LONGMONT                                                     80503
           17020387         HAYMARKET                                                    20169
           17020388         SAN DIEGO                                                    92116
           17020389         SAN CLEMENTE                                                 92673
           17020710         CHELMSFORD                                                   01824
           17020711         SAN DIEGO                                                    92106
           17020550         FAIRFAX                                                      22031
           17020712         BUENA PARK                                                   90620
           17020551         NEWMARK                                                      94560
           17020713         SIMI VALLEY                                                  93063
           17020714         CITY OF HUNTINGTON BEACH                                     92647
           17020552         JERSEY CITY                                                  07302
           17020715         LOS ALTOS                                                    94022
           17020553         LAGUNA NIGUEL                                                92677
           17020391         DUBLIN                                                       94568
           17020392         UPPER MARLBORO                                               20774
           17020554         YORBA LINDA                                                  92887
           17020716         ANTIOCH                                                      94509
           17020717         SOMIS                                                        93066
           17020555         ST GEORGE                                                    84790
           17020393         APEX                                                         27539
           17020718         LA QUINTA                                                    92253
           17020556         SAN RAFAEL                                                   94901
           17020394         SUGAR GROVE                                                  60554
           17020395         HIGHLANDS RANCH                                              80126
           17020557         LORTON                                                       22079
           17020719         DENVER                                                       80206
           17020558         LOS ANGELES                                                  90062
           17020397         SPRINGDALE                                                   72762
           17020559         VALLEJO                                                      94591
           17020398         TEMPE                                                        85284
           17020399         VISALIA                                                      93291
           17020720         PHOENIX                                                      85013
           17020721         PHOENIX                                                      85054
           17020722         NORTHRIDGE                                                   91326
           17020560         SAN FRANCISCO                                                94132
           17020723         RANCHO MIRAGE                                                92270
           17020561         FORSYTH                                                      31029
           17020724         SAN CLEMENTE                                                 92673
           17020562         SAN CLEMENTE                                                 92672
           17020725         SUFFOLK                                                      23435
           17020563         GRANADA HILLS                                                91344
           17020726         SAN DIEGO                                                    92130
           17020564         SAN BRUNO                                                    94066
           17020727         SOUTH LAKE TAHOE                                             96150
           17020565         NORTH WILDWOOD                                               08260
           17020728         FLUSHING                                                     11355
           17020566         AUBURN                                                       95602
           17020729         NEW YORK                                                     10036
           17020567         PARK CITY                                                    84060
           17020568         HERCULES                                                     94547
           17020569         LAS VEGAS                                                    89141
           17020730         TRACY                                                        95376
           17020731         LADERA RANCH AREA                                            92694
           17020732         COS COB                                                      06807
           17020570         SAN GABRIEL AREA                                             91775
           17020733         FREMONT                                                      94536
           17020571         CAMARILLO                                                    93010
           17020734         MIRAMAR                                                      33029
           17020572         SOUTH RIDING                                                 20152
           17020735         TAVERNIER                                                    33070
           17020573         EDWARDS                                                      81632
           17020736         OAKLAND                                                      94601
           17020487         CAMARILLO                                                    93010
           17020488         SHERMAN OAKS                                                 91411
           17020489         SAN LEANDRO                                                  94577
           17020810         VAN NUYS                                                     91405
           17020811         LOS ANGELES                                                  91335
           17020650         IRVINE                                                       92620
           17020791         COPPELL                                                      75019
           17020792         LOS ANGELES                                                  90025
           17020793         MURRIETA                                                     92563
           17020794         NEW MILFORD                                                  06776
           17020795         WASHINGTON                                                   20016
           17020796         HUNTINGTON BEACH                                             92648
           17020797         LA MIRADA                                                    90638
           17020798         AGOURA                                                       91301
           17020799         LONG BEACH                                                   90814
           17020790         BRENTWOOD                                                    94513
           17020646         THOUSAND OAKS                                                91362
           17020484         LEESBURG                                                     20175
           17020808         BEVERLY HILLS                                                90210
           17020647         BASKING RIDGE                                                07920
           17020485         CHESAPEAKE                                                   23322
           17020809         LA CRESCENTA AREA                                            91214
           17020648         CHULA VISTA                                                  91914
           17020486         ROSEVILLE                                                    95661
           17020649         HERMOSA BEACH                                                90254
           17020781         CERRITOS                                                     90703
           17020782         TORRANCE                                                     90501
           17020783         SANTA ANA                                                    92707
           17020784         SAN JOSE                                                     95123
           17020785         LEESBURG                                                     20176
           17020786         SANTA CLARA                                                  95050
           17020787         LITTLE COMPTON                                               02837
           17020788         DIAMOND BAR                                                  91765
           17020789         ALISO VIEJO                                                  92656
           17020612         AREA OF CASTAIC                                              91384
           17020450         SAN JOSE                                                     95126
           17020613         LOS ANGELES                                                  90065
           17020451         EDWARDS                                                      81632
           17020614         NORTHRIDGE AREA LOS ANGEL                                    91326
           17020452         CORONA                                                       92880
           17020615         FRESNO                                                       93704
           17020453         WILLIAMSPORT                                                 21795
           17020616         FREMONT                                                      94555
           17020454         SAVANNAH                                                     31406
           17020617         MISSION VIEJO                                                92694
           17020455         RANDOLPH                                                     07869
           17020456         SUDBURY                                                      01776
           17020618         RANCHO CUCAMONGA                                             91730
           17020619         WINCHESTER                                                   92596
           17020457         NORTH ATTLEBORO                                              02760
           17020458         CHICAGO                                                      60605
           17020459         TUSTIN                                                       92780
           17020620         BOWIE                                                        20721
           17020621         ALEXANDRIA                                                   22312
           17020622         WALDORF                                                      20603
           17020460         SAN JOSE                                                     95116
           17020623         REDMOND                                                      98052
           17020461         SANDY SPRING                                                 20860
           17020624         SCOTTSDALE                                                   85259
           17020462         SCOTTSDALE                                                   85259
           17020625         SAN RAMON                                                    94583
           17020463         SUNNYVALE                                                    94089
           17020626         CHULA VISTA                                                  91911
           17020464         WARRENTON                                                    20187
           17020627         KEY WEST                                                     33040
           17020465         DUXBURY                                                      02332
           17020628         LOS OSOS                                                     93402
           17020466         JACKSON                                                      83001
           17020629         CAMARILLO                                                    93010
           17020467         CHICAGO                                                      60657
           17020468         GREAT FALLS                                                  22066
           17020469         ANNAPOLIS                                                    21401
           17020630         SUNNYVALE                                                    94086
           17020631         SIMI VALLEY                                                  93065
           17020632         FAIRFAX                                                      94930
           17020470         IRVINE                                                       92603
           17020633         SCOTTSDALE                                                   85260
           17020471         OMAHA                                                        68122
           17020634         SAN MARCOS                                                   92078
           17020472         RANDOLPH                                                     07869
           17020635         CHICO                                                        95926
           17020473         BRENTWOOD                                                    94513
           17020636         SEATTLE                                                      98199
           17020474         FAIRFAX                                                      22030
           17020637         IRVINE                                                       92620
           17020475         ISSAQUAH                                                     98029
           17020638         UPPER MARLBORO                                               20774
           17020476         STRATFORD                                                    06615
           17020477         LOS ANGELES                                                  90036
           17020478         PLEASANTON                                                   94588
           17020479         DENVER                                                       80222
           17020800         SARATOGA                                                     95070
           17020801         SAN RAFAEL                                                   94901
           17020640         CASTLE ROCK                                                  80108
           17020802         LORTON                                                       22079
           17020641         SCOTTSDALE                                                   85262
           17020803         VAL VERDE                                                    91384
           17020642         THOUSAND OAKS                                                91362
           17020480         CHARLOTTE                                                    28277
           17020804         WEST HOLLYWOOD                                               90046
           17020643         EAGLE                                                        83616
           17020481         SOUTH RIDING                                                 20152
           17020805         AMBLER                                                       19002
           17020644         DUBLIN                                                       94568
           17020482         LOS ANGELES                                                  90034
           17020806         SAN JOSE                                                     95111
           17020645         IRVINE                                                       92620
           17020483         CAROLINA BEACH                                               28428
           17020807         ANAHEIM                                                      92804
           17020436         BUENA PARK                                                   90621
           17020437         OAKLEY                                                       94561
           17020438         ROCKLIN                                                      95765
           17020439         HENDERSON                                                    89044
           17020600         GARDENA                                                      90248
           17020601         PIEDMONT                                                     94611
           17020602         SAN PABLO                                                    94806
           17020440         DOWNEY                                                       90241
           17020603         LORTON                                                       22079
           17020441         GREEN OAKS                                                   60048
           17020604         LADERA RANCH AREA                                            92694
           17020442         FT MYERS                                                     33908
           17020605         RESTON                                                       20190
           17020606         HALF MOON BAY                                                94019
           17020444         BRISTOW                                                      20136
           17020607         SCOTTSDALE                                                   85260
           17020445         LOS ANGELES                                                  90048
           17020608         SAN LEANDRO                                                  94577
           17020446         SUNNYVALE                                                    94089
           17020609         RANCHO CORDOVA                                               95742
           17020447         BOYDS                                                        20841
           17020448         ROSEVILLE                                                    95747
           17020449         FULTON                                                       20759
           17020610         LOS ANGELES                                                  90019
           17020611         BRENTWOOD                                                    94513
           17020771         SALINAS                                                      93901
           17020772         RIVERSIDE                                                    92504
           17020773         HOLLISTER                                                    95023
           17020774         ELGIN                                                        60124
           17020775         PHOENIX                                                      85028
           17020777         CANYON LAKE                                                  92587
           17020778         PALM SPRINGS                                                 92262
           17020779         PALM SPRINGS                                                 92264
           17020780         LONG BEACH                                                   90803
           17020400         VERNON HILLS                                                 60061
           17020401         SEAL BEACH                                                   90740
           17020402         CORONA                                                       92880
           17020403         OXNARD                                                       93035
           17020404         SAN DIEGO                                                    92127
           17020405         SEATTLE                                                      98144
           17020406         LAGUNA NIGUEL                                                92677
           17020407         ENGLEWOOD CLIFFS                                             07632
           17020408         BAKERSFIELD                                                  93312
           17020409         BIRMINGHAM                                                   35226
           17020410         RANCHO CUCAMONGA                                             91730
           17020411         SAN JOSE                                                     95133
           17020412         LAKE RIDGE                                                   22192
           17020413         REDONDO BEACH                                                90278
           17020415         SAN JOSE                                                     95116
           17020416         SAN JOSE                                                     95133
           17020417         VIENNA                                                       22180
           17020418         BROOKVILLE                                                   11545
           17020419         NEW YORK                                                     10004
           17020420         CAMARILLO                                                    93012
           17020421         MURPHY                                                       75094
           17020422         CHEVY CHASE                                                  20815
           17020423         MANASSAS                                                     20111
           17020424         UNION HALL                                                   24176
           17020425         LINCOLN                                                      68526
           17020427         MARRIOTTSVILLE                                               21104
           17020428         SPARKS                                                       89436
           17020429         BOTHELL                                                      98021
           17020430         MANHATTAN BEACH                                              90266
           17020431         PARKER                                                       80134
           17020432         LAS VEGAS                                                    89149
           17020433         ENGLEWOOD                                                    80113
           17020434         NEWTON                                                       02467
           17020761         SCOTTSDALE                                                   85259
           17020762         LOS ANGELES                                                  90046
           17020763         SODDY DAISY                                                  37379
           17020764         PLAYA VISTA                                                  90094
           17020765         OLD LYME                                                     06371
           17020766         BOSTON                                                       02115
           17020767         BROOKLINE                                                    02445
           17020768         HOPKINTON                                                    01748
           17020769         WELLESLEY                                                    02481
           17020770         GERMANTOWN                                                   20876
           17020851         GLENDALE                                                     91207
           17020852         SANTA MONICA                                                 90404
           17020690         NIPOMO                                                       93444
           17020853         AVILA BEACH                                                  93424
           17020691         PEORIA                                                       85383
           17020854         SALINAS                                                      93905
           17020692         SAN DIEGO                                                    92124
           17020855         SAN DIEGO                                                    92129
           17020693         CHANTILLY                                                    20152
           17020856         BURLINGAME                                                   94010
           17020694         VIENNA                                                       22180
           17020857         GAINESVILLE                                                  20155
           17020695         RESTON                                                       20194
           17020858         BOCA RATON                                                   33432
           17020696         RANCHO CUCAMONGA                                             91701
           17020859         LAFAYETTE                                                    80026
           17020697         PITTSBURG                                                    94565
           17020698         SYLMAR                                                       91342
           17020699         SAN CARLOS                                                   94070
           17020860         DALLAS                                                       75205
           17020861         PALM SPRINGS                                                 92262
           17020862         PHOENIX                                                      85086
           17020740         NARRAGANSETT                                                 02882
           17020741         APTOS                                                        95003
           17020742         POWAY                                                        92064
           17020580         UKIAH                                                        95482
           17020743         BRIGANTINE                                                   08203
           17020581         BRENTWOOD                                                    94513
           17020744         MAPLETON                                                     84664
           17020582         CHESTERFIELD                                                 08515
           17020745         RICHMOND                                                     94806
           17020583         BOWIE                                                        20721
           17020746         SIX MILE                                                     29682
           17020584         IRVINE                                                       92620
           17020747         INDIO                                                        92203
           17020585         BRISTOW                                                      20136
           17020748         MANHATTAN BEACH                                              90266
           17020586         RENO                                                         89509
           17020749         MENLO PARK                                                   94025
           17020587         SANTA ROSA                                                   95404
           17020588         SPRING VALLEY                                                91977
           17020589         PLEASANT HILL                                                94523
           17020750         BELLEROSE                                                    11426
           17020751         REDONDO BEACH                                                90277
           17020590         BELTSVILLE                                                   20705
           17020752         IRVINGTON                                                    10533
           17020591         HOLLISTER                                                    95023
           17020753         OXNARD                                                       93035
           17020592         LA QUINTA                                                    92253
           17020754         ANTIOCH                                                      94531
           17020593         POTOMAC                                                      20854
           17020755         ESTERO                                                       33928
           17020594         SEATTLE                                                      98117
           17020756         MONTE SERENO                                                 95030
           17020595         CHICAGO                                                      60647
           17020757         CARLSBAD                                                     92009
           17020596         SAN JOSE                                                     95126
           17020758         LITCHFIELD PARK                                              85340
           17020597         CARY                                                         27513
           17020759         NAPLES                                                       34109
           17020598         UPLAND                                                       91784
           17020599         WALPOLE                                                      02032
           17020760         PHOENIX                                                      85044
           17020738         CORONA                                                       92879
           17020576         GLENDALE                                                     91208
           17020739         NEWTON                                                       02459
           17020577         CHICAGO                                                      60608
           17020578         OCEAN CITY                                                   21842
           17020390         GAINESVILLE                                                  20155
           17149253         SOMERVILLE                                                   02145
           17129133         NEW YORK                                                     10011
           17120372         COSTA MESA                                                   92626
           17120377         RAMONA                                                       92065
           17120399         HACIENDA HEIGHTS                                             91745
           17129138         COTO DE CAZA                                                 92679
           17120386         CAMARILLO                                                    93012
           17120389         TORRANCE                                                     90505
           17120412         SILVER SPRING                                                20910
           17120421         AUBURN                                                       98092
           17120390         TRES PINOS                                                   95075
           17120391         OXNARD                                                       93036
           17120392         CHULA VISTA                                                  91915
           17120393         DANVILLE                                                     94526
           17120394         GLENDALE                                                     91206
           17120395         SANTA CLARITA                                                91390
           17120397         SANTA ANA                                                    92705
           17120398         SAN PABLO                                                    94806
           17120385         SANTA ROSA                                                   95404
           17120387         CHICAGO                                                      60601
           17120388         RENTON                                                       98059
           17120384         BAKERSFIELD                                                  93311
           17120330         BIRMINGHAM                                                   35213
           17120331         BOULDER                                                      80304
           17120332         EAST HAMPTON                                                 11937
           17120333         CHULA VISTA                                                  91915
           17120334         WESTPORT                                                     06880
           17120335         LONG BEACH                                                   90807
           17120336         CATHARPIN                                                    20143
           17120337         PASADENA                                                     91105
           17120338         SAN DIEGO                                                    92131
           17120339         CHINO HILLS                                                  91709
           17120341         THOUSAND OAKS                                                91320
           17120342         TUCSON                                                       85701
           17120343         NEWTOWN                                                      06470
           17120344         FORT MYERS                                                   33912
           17120346         WOODINVILLE                                                  98077
           17120347         KIRKLAND                                                     98033
           17120348         CORONA                                                       92880
           17120349         JERSEY CITY                                                  07310
           17120350         EAST HAMPTON                                                 11937
           17120351         LONG BEACH                                                   90808
           17120353         DAWSONVILLE                                                  30534
           17120354         WOODINVILLE                                                  98077
           17120355         SAN FRANCISCO                                                94117
           17120356         CAMARILLO                                                    93012
           17120357         GLENDORA                                                     91741
           17120358         TULALIP                                                      98271
           17120359         DUVALL                                                       98019
           17120360         BURBANK                                                      91505
           17120361         GRANADA HILLS                                                91344
           17120362         KIRKLAND                                                     98033
           17120363         SANTA BARBARA                                                93111
           17120364         PACIFIC GROVE                                                93950
           17120365         CONCORD                                                      94518
           17120366         ALAMEDA                                                      94501
           17120367         SOUTHWEST RANCHES                                            33331
           17120370         BURKE                                                        22015
           17120371         MILPITAS                                                     95035
           17120373         DANA POINT                                                   92629
           17120374         WALDORF                                                      20603
           17120375         SAN LEANDRO                                                  94578
           17120376         SAN JOSE                                                     95118
           17120378         SAN JOSE                                                     95136
           17120379         KIRKLAND                                                     98033
           17120380         MENLO PARK                                                   94025
           17120381         SAN JOSE                                                     95128
           17120382         LEESBURG                                                     20175
           17120383         IRVINE                                                       92620
           17120327         WESTON                                                       02493
           17120328         CHICAGO                                                      60622
           17149240         LAGUNA NIGUEL                                                92677
           17149241         SAN RAMON                                                    94583
           17149242         WEST HOLLYWOOD                                               90069
           17149243         FAIRFIELD                                                    94534
           17149244         CLARENDON HILLS                                              60514
           17149245         SAN DIEGO                                                    92127
           17149246         TORRANCE                                                     90504
           17149247         GLENDALE                                                     91208
           17149248         LOS ANGELES                                                  90065
           17149249         TRACY                                                        95304
           17149250         SAN DIEGO                                                    92127
           17149251         COLTON                                                       92324
           17149252         MUKILTEO                                                     98275
           17149100         BOWIE                                                        20720
           17149101         OCEANO                                                       93445
           17149102         AMHERST                                                      03031
           17129130         DENVER                                                       80220
           17129131         ROWLAND HEIGHTS AREA                                         91748
           17129132         SAN ANTONIO                                                  78258
           17129134         BOSTON                                                       02118
           17129135         WILLOWBROOK                                                  60527
           17129136         CORAL GABLES                                                 33146
           17129137         RANCHO CUCAMONGA                                             91739
           17129139         PETALUMA                                                     94952
           17129140         ASPEN                                                        81611
           17129141         SOLANA BEACH                                                 92075
           17129142         FULLERTON                                                    92835
           17129144         HERNDON                                                      20170
           17129145         HUNTINGTON BEACH                                             92648
           17129127         STATEN ISLAND                                                10312
           17129128         ASHBURN                                                      20147
           17129129         NOLENSVILLE                                                  37135
           17120410         VALLEY CENTER                                                92082
           17120411         FULLERTON                                                    92831
           17120413         HANOVER                                                      02339
           17120414         WESTBOROUGH                                                  01581
           17120415         GARDEN CITY                                                  83714
           17120416         UNION CITY                                                   94587
           17120417         REDONDO BEACH                                                90278
           17120418         IDAHO FALLS                                                  83406
           17120419         SAN JUAN CAPISTRANO                                          92675
           17120420         SAN JOSE                                                     95127
           17120422         SEATTLE                                                      98119
           17120423         SAN JOSE                                                     95126
           17120424         LEXINGTON                                                    02421
           17120425         FREMONT                                                      94539
           17120426         HENDERSONVILLE                                               37075
           17149077         VICTORIA                                                     55386
           17149078         ATLANTA                                                      30309
           17149079         GLENVIEW                                                     60025
           17149080         BURBANK                                                      91501
           17149081         FREMONT                                                      94538
           17149082         ARLINGTON                                                    22203
           17149083         PROVIDENCE                                                   84332
           17149084         JERSEY CITY                                                  07302
           17149086         BRISBANE                                                     94005
           17149087         BRUSH PRAIRIE                                                98606
           17149088         HARBOR CITY                                                  90710
           17149089         NORWOOD                                                      07648
           17149090         LONG BEACH                                                   90803
           17149091         INGLEWOOD                                                    90303
           17120401         CHULA VISTA                                                  91910
           17120402         WADSWORTH                                                    60083
           17120403         PROSPER                                                      75078
           17120404         HERMOSA BEACH                                                90254
           17120405         WOODLAND HILLS                                               91367
           17120406         MUKILTEO                                                     98275
           17120407         BLACK DIAMOND                                                98010
           17120408         LOS ANGELES                                                  90028
           17120409         GARDEN GROVE                                                 92841
           17149092         BLOOMFIELD HILLS                                             48302
           17149093         MUKILTEO                                                     98275
           17149094         CARLSBAD                                                     92008
           17149095         LONG BEACH                                                   90803
           17149096         LEESBURG                                                     20176
           17149097         BEVERLY HILLS                                                90210
           17149098         LA QUINTA                                                    92253
           17149099         PALO ALTO                                                    94301
           17120498         SIMI VALLEY                                                  93065
           17120455         RANCHO MIRAGE                                                92270
           17120477         LOS ANGELES                                                  90064
           17120490         PALO ALTO                                                    94301
           17120532         FONTANA                                                      92337
           17120544         SAN CLEMENTE                                                 92673
           17120540         EL SEGUNDO                                                   90245
           17120541         PLACENTIA                                                    92870
           17120542         SAN DIEGO                                                    92131
           17120543         AMERICAN CANYON                                              94503
           17120545         HENDERSON                                                    89011
           17120546         CYPRESS                                                      90630
           17120547         CONCORD                                                      94520
           17120548         SAN JOSE                                                     95125
           17120549         DUARTE                                                       91010
           17120550         OXNARD                                                       93035
           17120551         ARLINGTON                                                    22207
           17120552         THOUSAND OAKS                                                91360
           17120553         SANTA BARBARA                                                93111
           17120554         SEASIDE                                                      93955
           17120555         CASCADE                                                      59421
           17120556         MARYSVILLE                                                   98271
           17120557         GOLETA                                                       93117
           17120558         LOS ANGELES                                                  90046
           17120559         SAN JOSE                                                     95124
           17120560         SUNNYVALE                                                    94089
           17120561         SANTA BARBARA                                                93108
           17120562         SACRAMENTO                                                   95831
           17120563         SAN RAFAEL                                                   94901
           17120564         CARLSBAD                                                     92011
           17120565         LYNNWOOD                                                     98036
           17120566         SAN JUAN CAPISTRANO                                          92675
           17120567         COSTA MESA                                                   92626
           17120568         SANTA BARBARA                                                93101
           17120569         VALLEJO                                                      94591
           17120570         SNOQUALMIE                                                   98065
           17120571         SILVER SPRING                                                20901
           17120572         FONTANA                                                      92336
           17120573         LAS VEGAS                                                    89123
           17120574         HENDERSON                                                    89052
           17120575         WELLINGTON                                                   33414
           17120576         FRANKLIN                                                     37064
           17120526         SAN JOSE                                                     95112
           17120527         LOS ANGELES                                                  90065
           17120528         PEMBROKE PINES                                               33028
           17120529         NORWALK                                                      06851
           17120530         OXNARD                                                       93035
           17120531         CAMARILLO                                                    93012
           17120533         SALINAS                                                      93906
           17120534         PENNGROVE                                                    94951
           17120535         NAPA                                                         94558
           17120536         MOORPARK                                                     93021
           17120537         VIRGINIA BEACH                                               23451
           17120538         LOS ANGELES                                                  90049
           17120539         LOS ANGELES                                                  90066
           17120510         SIMI VALLEY                                                  93063
           17120511         OCEANSIDE                                                    92056
           17120512         MIAMI                                                        33176
           17120513         MIAMI LAKES                                                  33016
           17120514         SHERBORN                                                     01770
           17120515         BOLTON                                                       01740
           17120516         SANTA MONICA                                                 90404
           17120517         WEST COVINA                                                  91790
           17120518         ROSEMEAD                                                     91770
           17120519         HUNTINGTON BEACH                                             92648
           17120520         RICHMOND                                                     01254
           17120521         FLOWER MOUND                                                 75022
           17120522         COATESVILLE                                                  19320
           17120523         WOODLAND HILLS                                               91367
           17120524         MANALAPAN TOWNSHIP                                           07726
           17120525         PARK CITY                                                    84060
           17120500         SANTA BARBARA                                                93101
           17120501         RESTON                                                       20191
           17120502         HENDERSONVILLE                                               37075
           17120503         INGLEWOOD                                                    90303
           17120504         NORTH HOLLYWOOD                                              91601
           17120505         DOYLESTOWN                                                   18902
           17120506         SAN MARCOS                                                   92078
           17120507         REDWOOD CITY                                                 94061
           17120508         NAPLES                                                       34110
           17120509         INGLEWOOD                                                    90305
           17149110         GOLDEN BEACH                                                 33160
           17149111         LOS ANGELES                                                  90039
           17149112         OAKLAND                                                      94618
           17149113         ELLICOTT CITY                                                21043
           17149103         DENVER                                                       80202
           17149105         HAYMARKET                                                    20169
           17149106         WALNUT CREEK                                                 94598
           17149107         VENTURA                                                      93003
           17149108         WOODLAND HILLS                                               91364
           17149109         WILSONVILLE                                                  97070
           17120450         POWAY                                                        92064
           17120451         PARKLAND                                                     33076
           17120452         CASTLE ROCK                                                  80108
           17120453         CLOSTER                                                      07624
           17120454         SAN JOSE                                                     95136
           17120456         HUDSON                                                       54016
           17120457         HIGHLANDS                                                    28741
           17120458         PLEASANTON                                                   94566
           17120459         SONOMA                                                       95476
           17120460         SAN RAMON                                                    94582
           17120461         BRISBANE                                                     94005
           17120462         REDONDO BEACH                                                90277
           17120463         EL DORADO HILLS                                              95762
           17120464         SANTA BARBARA                                                93105
           17120465         IRVINE                                                       92618
           17120466         GLENDALE                                                     85308
           17120467         CARLSBAD                                                     92009
           17120468         MIAMI BEACH                                                  33140
           17120469         PALM BEACH GARDENS                                           33418
           17120470         LOS ANGELES                                                  90008
           17120471         LAS VEGAS                                                    89117
           17120472         CRESTED BUTTE                                                81224
           17120473         CORONA                                                       92880
           17120474         ASTORIA                                                      11105
           17120476         WASHINGTON                                                   20001
           17120478         IRVINE                                                       92603
           17120479         FONTANA                                                      92336
           17120480         SOMIS                                                        93066
           17120481         SAN RAMON                                                    94582
           17120482         CHULA VISTA                                                  91913
           17120483         LAKEWOOD                                                     90713
           17120484         RICHMOND                                                     94804
           17120485         SANTA BARBARA                                                93110
           17120486         OAKLAND                                                      94605
           17120487         CORONA                                                       92883
           17120488         LAKE FOREST PARK                                             98155
           17120489         GRANITE BAY                                                  95746
           17120491         PALO ALTO                                                    94301
           17120492         GAINESVILLE                                                  20155
           17120493         GRANTS PASS                                                  97526
           17120494         MARINA DEL REY                                               90292
           17120495         PACIFIC PALISADES                                            90272
           17120496         FONTANA                                                      92336
           17120499         LAS VEGAS                                                    89144
           17120429         AUBURN                                                       36830
           17120430         LOS ANGELES (PLAYA VISTA)                                    90094
           17120431         MOORESVILLE                                                  28117
           17120432         BURBANK                                                      91501
           17120433         BURBANK                                                      91506
           17120434         FULLERTON                                                    92833
           17120436         LOS ANGELES                                                  90064
           17120437         BRENTWOOD                                                    37027
           17120438         VALENCIA                                                     91354
           17120440         KIRKLAND                                                     98033
           17120441         LOS ANGELES                                                  90272
           17120442         PARKLAND                                                     33067
           17120443         APACHE JUNCTION                                              85218
           17120444         THOUSAND OAKS                                                91360
           17120445         LIVERMORE                                                    94550
           17120446         OMAHA                                                        68124
           17120447         KIRKLAND                                                     98033
           17120448         LONG BEACH                                                   90803
           17120449         BRENTWOOD                                                    94513
           17181086         FLEMINGTON                                                   08822
           17171924         PALM BEACH                                                   33480
           17172078         CHAPEL HILL                                                  27517
           17175048         MANHATTAN BEACH                                              90266
           17175049         SOMERSET                                                     08873
           17171987         SANTA FE                                                     87501
           17172020         AREA OF SANTA YNEZ                                           93460
           17203440         REDWOOD CITY                                                 94061
           17172004         NIPOMO                                                       93444
           17172023         NORTHVALE                                                    07647
           17172005         EAST BRUNSWICK                                               08816
           17203443         SANTA FE                                                     87506
           17203445         CLAREMONT                                                    91711
           17203409         WESTWOOD                                                     96137
           17172044         ATLANTA                                                      30305
           17203427         HERMOSA BEACH                                                90254
           17172008         HOBOKEN                                                      07030
           17181117         ESCALON                                                      95320
           17172064         CAMARILLO                                                    93010
           17203267         BALD HEAD ISLAND                                             28461
           17175071         GEORGETOWN                                                   40324
           17172065         LOS ANGELES                                                  90012
           17175054         DURHAM                                                       95938
           17172048         FLOWERY BRANCH                                               30542
           17172049         ATLANTA                                                      30316
           17171951         RALEIGH                                                      27612
           17171995         PROSPECT                                                     40059
           17203410         LOS ANGELES                                                  90004
           17181120         WOODCLIFF LAKE                                               07677
           17172112         WILDWOOD CREST                                               08260
           17172014         LA HABRA                                                     90631
           17203451         NORTON                                                       02766
           17172051         WILMINGTON                                                   28412
           17203255         MONROE                                                       08831
           17172053         CHATHAM                                                      07928
           17203437         MARIETTA                                                     30066
           17172036         RANCHO MIRAGE                                                92270
           17172136         BOYNTON BEACH                                                33435
           17172073         HAYWARD                                                      94544
           17172055         RENO                                                         89523
           17203294         PORT SAINT LUCIE                                             34986
           17203278         NORWELL                                                      02061
           17203359         CHARLESTOWN                                                  02129
           17172039         STONE MOUNTAIN                                               30087
           17203396         ATLANTA                                                      30324
           17203423         UNIVERSITY PARK                                              34201
           17203388         SAN JOSE                                                     95131
           17203364         KULA                                                         96790
           17203354         BRENTWOOD                                                    94513
           17203317         WINDSOR                                                      95492
           17171965         BEND                                                         97701
           17203331         NORTHBROOK                                                   60062
           17172132         NEWPORT BEACH                                                92657
           17172133         ALEXANDRIA                                                   22306
           17172127         MUNDELEIN                                                    60060
           17172130         BETHESDA                                                     20816
           17172104         HAYWARD                                                      94542
           17172114         SAN JOSE                                                     95111
           17172125         EDWARDS                                                      81632
           17172126         OAKLAND                                                      94619
           17171998         RANCHO PALOS VERDES                                          90275
           17172001         BOTHELL                                                      98011
           17172002         WEST SACRAMENTO                                              95691
           17172010         SAN JOSE                                                     95133
           17172022         SCOTTSDALE                                                   85258
           17172033         FOSTER CITY                                                  94404
           17172041         GARDEN GROVE                                                 92840
           17172057         ALEXANDRIA                                                   22309
           17172061         AUBURN                                                       95602
           17172068         SALT LAKE CITY                                               84108
           17172074         HAYWARD                                                      94544
           17172084         ANAHEIM                                                      92802
           17172086         THOUSAND OAKS                                                91360
           17171926         QUEEN CREEK                                                  85242
           17171946         WHITTIER AREA                                                90604
           17171952         STEVENSON RANCH                                              91381
           17171957         BRENTWOOD                                                    94513
           17171960         HILTON HEAD ISLAND                                           29928
           17171979         HACIENDA HEIGHTS                                             91745
           17171980         TUSTIN                                                       92782
           17171983         BELLFLOWER                                                   90706
           17171990         FONTANA                                                      92336
           17171992         DAVIS                                                        95616
           17171922         PIONEER                                                      95666
           17203303         SAN JOSE                                                     95136
           17203452         CHARLESTOWN                                                  02129
           17203340         BLOOMINGDALE                                                 60108
           17203351         CORONA                                                       92882
           17203283         HENDERSON                                                    89044
           17203252         SNOHOMISH                                                    98296
           17203412         FREMONT                                                      94539
           17203321         HEALDSBURG                                                   95448
           17203385         SAN RAMON                                                    94582
           17203392         LANCASTER                                                    14086
           17203401         CAPE CORAL                                                   33904
           17203435         FOOTHILL RANCH                                               92610
           17203383         PASO ROBLES                                                  93446
           17203323         OCONOMOWOC                                                   53066
           17203449         GARDEN CITY                                                  11530
           17203328         LONG BEACH                                                   90815
           17203339         NEW MARKET                                                   21774
           17203315         SAN MATEO                                                    94403
           17203257         ASHBURN                                                      20148
           17203295         SAN JOSE                                                     95126
           17203290         SAN RAMON                                                    94582
           17203299         GILBERT                                                      85296
           17203424         BUENA PARK                                                   90621
           17203379         BERLIN                                                       21811
           17203256         HENDERSON                                                    89044
           17203422         FRESNO                                                       93723
           17203253         WASHOUGAL                                                    98671
           17203312         SAN JOSE                                                     95128
           17203293         ESCONDIDO                                                    92027
           17203418         ORLAND PARK                                                  60467
           17203314         TUSTIN                                                       92782
           17203448         ALDIE                                                        20105
           17203384         COSTA MESA                                                   92627
           17203281         COLUMBIANA                                                   35051
           17203348         MAHOPAC                                                      10541
           17203390         EAST PALO ALTO                                               94303
           17203310         HAYWARD                                                      94544
           17203363         CHICAGO                                                      60634
           17203425         ROCKVILLE                                                    20852
           17203373         GREENBURGH                                                   10530
           17203266         FREDERICKSBURG                                               22401
           17203358         SAN JOSE                                                     95124
           17203429         MIRAMAR                                                      33029
           17203371         TARZANA                                                      91356
           17203337         KEY WEST                                                     33040
           17203421         ESCONDIDO                                                    92025
           17203430         LOS ANGELES                                                  90064
           17203247         KIRKLAND                                                     98034
           17203320         LADERA RANCH                                                 92694
           17203405         GLENDALE                                                     91214
           17203270         BOYNTON BEACH                                                33436
           17203362         OWASCO                                                       13021
           17203361         MIAMI                                                        33018
           17203272         ESTERO                                                       33928
           17203350         LOS ANGELES                                                  91040
           17203403         LINCOLN                                                      95648
           17203301         HUNTINGTON BEACH                                             92649
           17203349         ANTIOCH                                                      94509
           17203338         SAN DIEGO                                                    92130
           17203345         SHERMAN OAKS                                                 91403
           17203307         SAN RAMON                                                    94582
           17203357         LOS ANGELES                                                  90022
           17203442         HUNTINGTON BEACH                                             92646
           17203277         LIVERMORE                                                    94551
           17203280         VAIL                                                         85641
           17203344         BELLE CHASSE                                                 70037
           17203381         WASHINGTON                                                   20009
           17203436         SCHAUMBURG                                                   60193
           17203333         KAMUELA                                                      96743
           17203316         LIBERTYVILLE                                                 60048
           17203305         IRVINE                                                       92618
           17203292         TUCSON                                                       85715
           17203419         EL MONTE                                                     91733
           17203433         MILLSBORO                                                    19966
           17203438         SANTA ANA                                                    92707
           17203284         DANVILLE                                                     94506
           17203275         CANYON LAKE                                                  92587
           17203411         TORRANCE                                                     90505
           17203324         BLUFFTON                                                     29910
           17203408         ANAHEIM                                                      92805
           17203300         REDMOND                                                      98052
           17203273         JACKSONVILLE BEACH                                           32250
           17203446         STAMFORD                                                     06903
           17203415         ROSEVILLE                                                    95678
           17203389         OAKLEY                                                       94561
           17203398         PONCE INLET                                                  32127
           17203274         PARADISE VALLEY                                              85253
           17203318         CORONA                                                       92882
           17203391         SEATTLE                                                      98144
           17203399         SANTA MARIA                                                  93455
           17203450         VERNON HILLS                                                 60061
           17203447         MIAMI                                                        33175
           17203453         ALDIE                                                        20105
           17203428         BASALT                                                       81621
           17203313         COTO DE CAZA                                                 92679
           17203431         PRESCOTT                                                     86305
           17203417         WEST COVINA                                                  91791
           17203343         SANTA ROSA                                                   95401
           17203360         CHINO HILLS                                                  91709
           17203416         ISSAQUAH                                                     98027
           17203406         VACAVILLE                                                    95688
           17203367         CORONA                                                       92880
           17203380         OXNARD                                                       93036
           17203286         GLENVIEW                                                     60026
           17203330         BROOKLYN                                                     11209
           17203249         HAYMARKET                                                    20169
           17203342         SAINT LOUIS                                                  63130
           17203346         EAST NORTHPORT                                               11731
           17203264         MONUMENT                                                     80132
           17203322         OXNARD                                                       93035
           17203397         SIMI VALLEY                                                  93063
           17203407         DANA POINT                                                   92629
           17203336         PIONEER                                                      95666
           17203374         UPLAND                                                       91784
           17203329         ROCHESTER HILLS                                              48309
           17203327         CERRITOS                                                     90703
           17203369         CORONA                                                       92880
           17203335         DUBLIN                                                       94568
           17203291         PASADENA                                                     91106
           17203289         DANVILLE                                                     94506
           17203372         THOUSAND OAKS                                                91320
           17203296         SCOTTSDALE                                                   85260
           17203254         BAKERSFIELD                                                  93312
           17203444         OKATIE                                                       29909
           17203365         VIENNA                                                       22180
           17203259         DENVER                                                       80230
           17203366         WASHINGTON                                                   20016
           17203353         HUNTINGTON BEACH                                             92648
           17203285         LIBERTYVILLE                                                 60048
           17203352         HUNTINGTON                                                   11743
           17203306         CHICAGO                                                      60647
           17203414         SAN JOSE                                                     95130
           17203393         UNION CITY                                                   94587
           17203382         CHULA VISTA                                                  91915
           17203302         UPPER MARLBORO                                               20774
           17203356         NOVATO                                                       94945
           17203387         CAMARILLO                                                    93012
           17203377         ASHBURN                                                      20148
           17203308         GLENDALE                                                     91206
           17203276         COLORADO SPRINGS                                             80921
           17203288         HUNTINGTON BEACH                                             92648
           17203378         BEAUMONT                                                     92223
           17203376         RIVERSIDE                                                    92508
           17203370         DIAMOND BAR                                                  91765
           17203248         PINE                                                         80470
           17203341         SOLEDAD                                                      93960
           17203334         PALM BEACH GARDENS                                           33410
           17203395         HILTON HEAD                                                  29926
           17203332         TEMECULA                                                     92592
           17203309         RIPON                                                        95366
           17203375         RAMONA                                                       92065
           17203279         SAN JOSE                                                     95126
           17203386         CORONA                                                       92880
           17203311         MOUNTAIN HOUSE                                               95391
           17203420         POTOMAC                                                      20854
           17203402         PARADISE VALLEY                                              85253
           17203439         DEPOE BAY                                                    97341
           17203297         ORO VALLEY TUCSON                                            85737
           17203282         PLEASANTON                                                   94566
           17203368         ANAHEIM                                                      92804
           17203394         MINNEAPOLIS                                                  55410
           17203400         PALO ALTO                                                    94303
           17203355         SAN JOSE                                                     95124
           17203404         VIENNA                                                       22180
           17203426         SANDY                                                        84093
           17203298         TUSTIN                                                       92782
           17203304         SANTA FE                                                     87506
           17203434         FOUNTAIN VALLEY                                              92708
           17171962         CASTLE ROCK                                                  80108
           17171963         IRVINE                                                       92618
           17171966         HUNTINGTON BEACH                                             92648
           17171967         HINGHAM                                                      02043
           17171968         EAST LANSING                                                 48823
           17171969         BIRMINGHAM                                                   35216
           17171970         KELLER                                                       76262
           17171971         SONOMA                                                       95476
           17171973         BLOOMFIELD HILLS                                             48304
           17171974         PALO ALTO                                                    94303
           17171978         EAST MEADOW                                                  11554
           17171982         YORBA LINDA                                                  92886
           17171985         MOUNTAIN VIEW                                                94043
           17171986         STAMFORD                                                     06902
           17171988         SAN JOSE                                                     95123
           17171989         SCOTTS VALLEY                                                95066
           17171991         EL DORADO HILLS                                              95762
           17171993         SAN JOSE                                                     95135
           17171996         MIDDLETON                                                    21769
           17171999         BURBANK                                                      91501
           17171950         CORONA                                                       92880
           17171955         SANTA ANA                                                    92705
           17171916         UNION CITY                                                   94587
           17171917         POUND RIDGE                                                  10576
           17171918         DANVILLE                                                     94506
           17171919         ANDOVER                                                      01810
           17171920         SCOTTSDALE                                                   85259
           17171921         SAN JOSE                                                     95133
           17171923         CHICAGO                                                      60657
           17171925         PARADISE VALLEY                                              85253
           17171927         SCOTTSDALE                                                   85260
           17171933         PENSACOLA                                                    32504
           17171935         CHICAGO                                                      60622
           17171937         GENEVA                                                       60134
           17171939         ROLLING HILLS ESTATES                                        90274
           17171945         MONROE                                                       06468
           17171949         PHOENIX                                                      85085
           17175070         LONG BEACH                                                   90804
           17175072         MOUNTAIN VIEW                                                94041
           17175056         COSTA MESA                                                   92627
           17175057         NIPOMO                                                       93444
           17175059         GREAT FALLS                                                  22066
           17175060         SAN MATEO                                                    94403
           17175061         CLIFTON                                                      20124
           17175062         HUNTINGTON BEACH                                             92646
           17175063         ALAMO                                                        94507
           17175064         WATSONVILLE                                                  95076
           17175065         MANTECA                                                      95337
           17175066         LONG BEACH                                                   90803
           17175067         CHICAGO                                                      60643
           17175068         SAN JOSE                                                     95127
           17175069         LAKE FOREST                                                  92630
           17175031         PEORIA                                                       85383
           17175032         LITTLE ROCK                                                  72223
           17175034         VENICE                                                       90291
           17175035         PACIFICA                                                     94044
           17175036         NAPLES                                                       34113
           17175037         KANSAS CITY                                                  64152
           17175040         ORO VALLEY                                                   85737
           17175041         WALDORF                                                      20603
           17175042         LA VERNE                                                     91750
           17175043         SCOTTSDALE                                                   85260
           17175045         ANNAPOLIS                                                    21401
           17175046         CASTLE ROCK                                                  80108
           17175047         SALT LAKE CITY                                               84121
           17175050         OCEANSIDE                                                    92057
           17175051         ORANGE                                                       92867
           17175052         CHINO HILLS                                                  91709
           17175053         MIAMI                                                        33157
           17175024         EAGLE                                                        83616
           17175025         VIRGINIA BEACH                                               23456
           17175026         OAK BROOK                                                    60523
           17175027         DANVILLE                                                     94506
           17175028         WARRENTON                                                    20187
           17175029         BRISTOW                                                      20136
           17172120         SAN JOSE                                                     95117
           17172121         WILSONVILLE                                                  97070
           17172122         THOUSAND OAKS                                                91320
           17172123         HACIENDA HEIGHTS                                             91745
           17172124         NAPLES                                                       34119
           17172128         SALINAS                                                      93905
           17172129         STEVENSON RANCH                                              91381
           17172131         LAGUNA NIGUEL                                                92677
           17172134         HENDERSON                                                    89015
           17172135         LOS ANGELES                                                  90034
           17172137         ALEXANDRIA                                                   22305
           17172138         MOBILE                                                       36695
           17172139         LOS ANGELES                                                  90005
           17172100         HERNDON                                                      20171
           17172101         EL DORADO HILLS                                              95762
           17172102         OXNARD                                                       93035
           17172103         SAN JOSE                                                     95127
           17172105         TORRANCE                                                     90503
           17172106         BELMONT                                                      94002
           17172107         TUCSON                                                       85750
           17172108         PARK CITY                                                    84098
           17172109         FAIRFIELD                                                    94534
           17172110         ESCONDIDO                                                    92025
           17172111         ALTADENA                                                     91001
           17172113         SAN JUAN BAUTISTA                                            95045
           17172115         LA QUINTA                                                    92253
           17172116         SALINAS                                                      93908
           17172117         RIVERSIDE                                                    92508
           17172119         VIENNA                                                       22180
           17181161         WIMAUMA                                                      33598
           17172090         THOUSAND OAKS                                                91362
           17181162         CHURCH HILL                                                  21623
           17172091         COLORADO SPRINGS                                             80908
           17172092         WALNUT CREEK                                                 94598
           17172093         NEW CANAAN                                                   06840
           17172094         SAN RAMON                                                    94582
           17172095         WOODBRIDGE                                                   22191
           17172097         ALDIE                                                        20105
           17172098         MONTEBELLO                                                   90640
           17172099         ALDIE                                                        20105
           17181150         REDWOOD CITY                                                 94063
           17181151         CUPERTINO                                                    95014
           17172080         WEST PALM BEACH                                              33411
           17181152         UPPER MARLBORO                                               20772
           17172081         BELLINGHAM                                                   98226
           17181153         SAN FRANCISCO                                                94109
           17172082         PETALUMA                                                     94952
           17181154         MIRAMAR BEACH                                                32550
           17172083         PORTLAND                                                     97201
           17172085         REDMOND                                                      98053
           17181158         HARLEYSVILLE                                                 19438
           17172087         ALDIE                                                        20105
           17181159         CHATSWORTH                                                   91311
           17172088         MIAMI BEACH                                                  33140
           17172089         REDONDO BEACH                                                90278
           17172060         ORANGE                                                       92869
           17181132         CHULA VISTA                                                  91915
           17181133         SAN DIEGO                                                    92037
           17172062         PORTLAND                                                     97225
           17181134         LUSBY                                                        20657
           17172063         PLEASANT HILL                                                94523
           17181135         SIMI VALLEY                                                  93063
           17181136         SAN JOSE                                                     95121
           17172066         SAN CLEMENTE                                                 92673
           17181138         GARDEN GROVE                                                 92843
           17172067         LA VERNE                                                     91750
           17172069         DADEVILLE                                                    36853
           17181140         CAMARILLO                                                    93012
           17172070         STAMFORD                                                     06902
           17172071         MONTEREY                                                     93940
           17181143         SEATTLE                                                      98112
           17172072         YORBA LINDA                                                  92886
           17181145         WEST HOLLYWOOD                                               90069
           17181146         SUPERIOR                                                     80027
           17172075         GLENDALE                                                     91208
           17181147         MONROVIA                                                     91016
           17172076         CORONADO                                                     92118
           17181148         FREMONT                                                      94538
           17172077         SAN DIEGO                                                    92127
           17172079         CHICAGO                                                      60614
           17181130         WEST SACRAMENTO                                              95691
           17181131         SIMI VALLEY                                                  93065
           17181121         HERNDON                                                      20171
           17172050         PALM BEACH GARDENS                                           33418
           17181122         CLARKSTON                                                    48348
           17181123         COLFAX                                                       95713
           17172052         FRISCO                                                       75034
           17181124         LAKE OSWEGO                                                  97035
           17181125         PLEASANTON                                                   94566
           17172054         GLENDALE                                                     91206
           17181126         MITCHELLVILLE                                                20721
           17172056         ANTIOCH                                                      94509
           17172059         CHULA VISTA                                                  91910
           17172047         SAN FRANCISCO                                                94158
           17181119         CUPERTINO                                                    95014
           17172021         CARLSBAD                                                     92009
           17172024         SANTA MONICA                                                 90405
           17172025         NEW YORK                                                     10012
           17172026         OMAHA                                                        68132
           17172027         WILMINGTON                                                   19803
           17172028         LAHAINA                                                      96761
           17172029         WHITE BEAR LAKE                                              55110
           17181100         SAN JOSE                                                     95138
           17181101         PUYALLUP                                                     98371
           17172030         GALVESTON                                                    77554
           17181102         LOS ANGELES                                                  90006
           17172031         UNION CITY                                                   94587
           17172032         MOUNTAIN VIEW                                                94040
           17181104         PEORIA                                                       85383
           17181105         NORTHBROOK                                                   60062
           17172034         LONGWOOD                                                     32779
           17181106         CHULA VISTA                                                  91915
           17172035         OCEANSIDE                                                    92057
           17181107         SEATTLE                                                      98102
           17181108         LOVELAND                                                     80538
           17172037         NEW YORK                                                     10007
           17181109         DUARTE                                                       91010
           17172038         MOSES LAKE                                                   98837
           17181110         RANCHO CUCAMONGA                                             91739
           17181111         BRONXVILLE                                                   10708
           17172040         WINCHESTER                                                   01890
           17181112         SAN RAFAEL                                                   94903
           17181113         MAHOPAC                                                      10541
           17172042         SAN DIEGO                                                    92102
           17181114         SAN DIEGO                                                    92131
           17172043         HILTON HEAD ISLAND                                           29926
           17181115         NEW YORK                                                     10010
           17181116         SAN DIEGO                                                    92131
           17172045         COEUR D ALENE                                                83814
           17172046         LADERA RANCH AREA                                            92694
           17172017         SEVERN                                                       21144
           17172018         OAKTON                                                       22124
           17172019         CAMPBELL                                                     95008
           17172000         SOUTH SAN FRANCISCO                                          94080
           17172006         CHANDLER                                                     85248
           17172007         POTOMAC                                                      20854
           17172009         SAN JUAN BAUTISTA                                            95045
           17172011         MANHASSET                                                    11030
           17172013         OLD ORCHARD BEACH                                            04064
           17172015         BEND                                                         97702
           17172016         ANNANDALE                                                    22003
           17181088         ROSEVILLE                                                    95747
           17181090         LANCASTER                                                    93536
           17181092         OVERLAND PARK                                                66221
           17181093         CHULA VISTA                                                  91914
           17181094         TEMECULA                                                     92592
           17181095         RESTON                                                       20190
           17181096         ATWATER                                                      95301
           17181097         SAN DIEGO                                                    92131
           17181099         LAKE TAPPS                                                   98391
           17181082         TEMPLETON                                                    93465
           17181083         HUNTINGTON BEACH                                             92646
           17181084         PLAINFIELD                                                   60585
           17181085         NORTHBROOK                                                   60062
           17172140         LAS VEGAS                                                    89139
           17172141         TORRANCE                                                     90505
           17172142         CHARLESTON                                                   29412
           17175038         POWAY                                                        92064
           17175039         BRENTWOOD                                                    94513
           17175044         CORONA                                                       92880
           17175073         LAKE HAVASU CITY                                             86404
           17181098         SAN LORENZO                                                  94580
           17181103         LADERA RANCH                                                 92694
           17181118         JACKSONVILLE                                                 97530
           17181128         SAN DIEGO                                                    92127
           17181129         CARLSBAD                                                     92010
           17181137         MONROVIA                                                     91016
           17181139         CAMARILLO                                                    93010
           17181144         HONOLULU                                                     96822
           17181149         CHICAGO                                                      60614
           17181155         PALO ALTO                                                    94303
           17181156         FALLBROOK                                                    92028
           17181157         SAN CLEMENTE                                                 92673
           17181160         VENTURA                                                      93003
           17171928         CATHEDRAL CITY                                               92234
           17171929         SUNNYVALE                                                    94086
           17171930         JACKSON                                                      83001
           17171931         LEESBURG                                                     20175
           17171932         BOYNTON BEACH                                                33437
           17171934         WEST UNION                                                   29696
           17171936         BOWIE                                                        20720
           17171938         HIGHLAND                                                     92346
           17171940         PEORIA                                                       85383
           17171941         FREMONT                                                      94539
           17171942         LINCOLN                                                      95648
           17171943         MEDINA                                                       55340
           17171944         HILLSBOROUGH                                                 94010
           17171947         TUSTIN                                                       92782
           17171948         ROCKLIN                                                      95765
           17171953         GILROY                                                       95020
           17171954         LAS VEGAS                                                    89131
           17171956         TUSTIN                                                       92782
           17171958         PAWLEYS ISLAND                                               29585
           17171959         LIVERMORE                                                    94551
           17171961         LOS ANGELES                                                  91367
           17171964         LAFAYETTE                                                    94549
           17171975         SARASOTA                                                     34241
           17171976         ANAHEIM                                                      92804
           17171977         SEDONA                                                       86336
           17171981         COTO DE CAZA                                                 92679
           17171984         RANCHO CUCAMONGA                                             91737
           17171994         SAN JOSE                                                     95131
           17171997         ELK GROVE                                                    95757
           17172003         SIMI VALLEY                                                  93065
           17172058         FONTANA                                                      92336
           17175030         FONTANA                                                      92336
           17175033         SAN FRANCISCO                                                94107
           17175055         ANAHEIM                                                      92802
           17181087         GLEN BURNIE                                                  21060
           17181089         RIVERTON                                                     84065
           17181091         BOISE                                                        83709
           17181127         INVER GROVE HEIGHTS                                          55077
           17172118         SAN JOSE                                                     95148
           17181142         SALT LAKE CITY                                               84117

           LOAN_SEQ        STATE                    PROPTYPE
           17020574         CA                   Single Family
           17020737         CA                   Single Family
           17020575         CA                   Single Family
           17020498         NV                   PUD
           17020499         CA                   Condominium
           17020820         CA                   Single Family
           17020821         FL                   PUD
           17020660         GA                   PUD
           17020822         DE                   PUD
           17020661         CA                   PUD
           17020823         CA                   Single Family
           17020662         AZ                   PUD
           17020824         CA                   Condominium
           17020663         AZ                   PUD
           17020825         IL                   Single Family
           17020664         CA                   Single Family
           17020826         VA                   PUD
           17020665         CA                   Condominium
           17020827         CA                   PUD
           17020828         CA                   Single Family
           17020667         CA                   Single Family
           17020829         WA                   Single Family
           17020668         CA                   Single Family
           17020669         CA                   PUD
           17020830         FL                   PUD
           17020831         CA                   Single Family
           17020670         CA                   PUD
           17020832         CA                   Condominium
           17020833         CA                   Single Family
           17020671         CA                   Single Family
           17020834         CA                   Single Family
           17020672         CA                   Single Family
           17020835         CA                   Single Family
           17020673         CA                   Single Family
           17020836         CA                   Single Family
           17020674         CA                   Single Family
           17020837         CA                   Single Family
           17020675         AZ                   PUD
           17020838         GA                   Single Family
           17020676         NV                   PUD
           17020839         CA                   Single Family
           17020677         CA                   Single Family
           17020678         CA                   Single Family
           17020679         AZ                   PUD
           17020840         CA                   PUD
           17020841         CA                   Single Family
           17020842         CA                   Condominium
           17020680         CA                   2-4 Family
           17020843         CA                   Single Family
           17020681         CA                   Single Family
           17020844         CA                   Condominium
           17020682         CA                   Single Family
           17020845         CA                   Single Family
           17020683         SC                   Single Family
           17020846         CA                   Single Family
           17020684         AZ                   PUD
           17020685         CA                   Condominium
           17020848         CA                   Single Family
           17020686         CA                   Condominium
           17020849         AZ                   Single Family
           17020687         CA                   Single Family
           17020688         CA                   Single Family
           17020689         CA                   Single Family
           17020850         CA                   Single Family
           17020657         CA                   Single Family
           17020495         WA                   Single Family
           17020819         WA                   Single Family
           17020658         AZ                   PUD
           17020496         CT                   Single Family
           17020659         CA                   PUD
           17020497         MA                   Single Family
           17020492         CA                   PUD
           17020816         CA                   PUD
           17020655         CA                   PUD
           17020493         VA                   Single Family
           17020817         CA                   Single Family
           17020656         CA                   Single Family
           17020494         TN                   PUD
           17020812         MD                   PUD
           17020651         CO                   PUD
           17020813         AZ                   PUD
           17020814         MA                   Single Family
           17020652         CO                   Single Family
           17020490         CA                   Single Family
           17020491         CA                   PUD
           17020815         CA                   Single Family
           17020654         CA                   Single Family
           17020500         CT                   2-4 Family
           17020501         NC                   PUD
           17020502         AZ                   Single Family
           17020503         PA                   Single Family
           17020504         WA                   Single Family
           17020505         NV                   PUD
           17020506         CA                   PUD
           17020507         AZ                   Single Family
           17020508         CA                   Single Family
           17020509         CA                   Single Family
           17020510         VA                   PUD
           17020511         CO                   PUD
           17020512         CA                   PUD
           17020513         CA                   PUD
           17020514         VA                   PUD
           17020515         AZ                   PUD
           17020516         CA                   PUD
           17020517         CO                   PUD
           17020518         VA                   Single Family
           17020519         MD                   Single Family
           17020520         CA                   Condominium
           17020521         CA                   PUD
           17020522         AZ                   PUD
           17020523         VA                   PUD
           17020524         VA                   PUD
           17020525         CA                   Single Family
           17020526         CA                   PUD
           17020527         CA                   Single Family
           17020528         VA                   Single Family
           17020529         VA                   PUD
           17020530         MI                   Single Family
           17020531         WA                   Single Family
           17020532         CA                   Condominium
           17020533         WA                   PUD
           17020534         IL                   Condominium
           17020535         MA                   Single Family
           17020536         FL                   PUD
           17020537         WI                   Single Family
           17020538         TX                   Single Family
           17020539         CA                   Single Family
           17020700         CA                   Condominium
           17020701         CA                   Single Family
           17020702         CA                   Single Family
           17020540         CA                   Single Family
           17020703         WA                   PUD
           17020541         CA                   PUD
           17020704         CA                   Single Family
           17020542         CA                   Single Family
           17020705         CA                   Single Family
           17020543         KS                   PUD
           17020706         UT                   Single Family
           17020544         CA                   Condominium
           17020707         MN                   Single Family
           17020545         OR                   Single Family
           17020708         CA                   Condominium
           17020546         CA                   Single Family
           17020547         CA                   PUD
           17020385         MA                   Single Family
           17020548         AZ                   Single Family
           17020386         CA                   PUD
           17020549         CO                   Single Family
           17020387         VA                   PUD
           17020388         CA                   Single Family
           17020389         CA                   PUD
           17020710         MA                   Single Family
           17020711         CA                   Single Family
           17020550         VA                   Single Family
           17020712         CA                   PUD
           17020551         CA                   Single Family
           17020713         CA                   PUD
           17020714         CA                   Single Family
           17020552         NJ                   Condominium
           17020715         CA                   Single Family
           17020553         CA                   PUD
           17020391         CA                   Condominium
           17020392         MD                   PUD
           17020554         CA                   Single Family
           17020716         CA                   Single Family
           17020717         CA                   Single Family
           17020555         UT                   Single Family
           17020393         NC                   PUD
           17020718         CA                   PUD
           17020556         CA                   Single Family
           17020394         IL                   PUD
           17020395         CO                   PUD
           17020557         VA                   Single Family
           17020719         CO                   Single Family
           17020558         CA                   Single Family
           17020397         AR                   Single Family
           17020559         CA                   Single Family
           17020398         AZ                   Single Family
           17020399         CA                   PUD
           17020720         AZ                   Single Family
           17020721         AZ                   PUD
           17020722         CA                   Condominium
           17020560         CA                   Condominium
           17020723         CA                   Single Family
           17020561         GA                   Single Family
           17020724         CA                   PUD
           17020562         CA                   PUD
           17020725         VA                   PUD
           17020563         CA                   Single Family
           17020726         CA                   PUD
           17020564         CA                   Single Family
           17020727         CA                   Single Family
           17020565         NJ                   Condominium
           17020728         NY                   2-4 Family
           17020566         CA                   Single Family
           17020729         NY                   Condominium
           17020567         UT                   Condominium
           17020568         CA                   PUD
           17020569         NV                   PUD
           17020730         CA                   Single Family
           17020731         CA                   Condominium
           17020732         CT                   Condominium
           17020570         CA                   2-4 Family
           17020733         CA                   Single Family
           17020571         CA                   Single Family
           17020734         FL                   PUD
           17020572         VA                   PUD
           17020735         FL                   Single Family
           17020573         CO                   PUD
           17020736         CA                   Condominium
           17020487         CA                   PUD
           17020488         CA                   Single Family
           17020489         CA                   Single Family
           17020810         CA                   Single Family
           17020811         CA                   Single Family
           17020650         CA                   Condominium
           17020791         TX                   Single Family
           17020792         CA                   Single Family
           17020793         CA                   Single Family
           17020794         CT                   Single Family
           17020795         DC                   Condominium
           17020796         CA                   PUD
           17020797         CA                   Single Family
           17020798         CA                   PUD
           17020799         CA                   Single Family
           17020790         CA                   PUD
           17020646         CA                   PUD
           17020484         VA                   PUD
           17020808         CA                   Condominium
           17020647         NJ                   Single Family
           17020485         VA                   Single Family
           17020809         CA                   Single Family
           17020648         CA                   PUD
           17020486         CA                   Single Family
           17020649         CA                   Condominium
           17020781         CA                   Single Family
           17020782         CA                   2-4 Family
           17020783         CA                   Single Family
           17020784         CA                   Single Family
           17020785         VA                   PUD
           17020786         CA                   Single Family
           17020787         RI                   Single Family
           17020788         CA                   Single Family
           17020789         CA                   Single Family
           17020612         CA                   PUD
           17020450         CA                   Condominium
           17020613         CA                   Single Family
           17020451         CO                   Single Family
           17020614         CA                   Condominium
           17020452         CA                   Single Family
           17020615         CA                   Single Family
           17020453         MD                   PUD
           17020616         CA                   Single Family
           17020454         GA                   PUD
           17020617         CA                   PUD
           17020455         NJ                   Single Family
           17020456         MA                   Single Family
           17020618         CA                   PUD
           17020619         CA                   Single Family
           17020457         MA                   Single Family
           17020458         IL                   Condominium
           17020459         CA                   PUD
           17020620         MD                   PUD
           17020621         VA                   Condominium
           17020622         MD                   PUD
           17020460         CA                   PUD
           17020623         WA                   PUD
           17020461         MD                   PUD
           17020624         AZ                   PUD
           17020462         AZ                   PUD
           17020625         CA                   PUD
           17020463         CA                   Condominium
           17020626         CA                   Single Family
           17020464         VA                   PUD
           17020627         FL                   PUD
           17020465         MA                   Single Family
           17020628         CA                   Single Family
           17020466         WY                   PUD
           17020629         CA                   Single Family
           17020467         IL                   PUD
           17020468         VA                   PUD
           17020469         MD                   Single Family
           17020630         CA                   PUD
           17020631         CA                   PUD
           17020632         CA                   PUD
           17020470         CA                   Condominium
           17020633         AZ                   PUD
           17020471         NE                   PUD
           17020634         CA                   PUD
           17020472         NJ                   Single Family
           17020635         CA                   Single Family
           17020473         CA                   Single Family
           17020636         WA                   Single Family
           17020474         VA                   Single Family
           17020637         CA                   Condominium
           17020475         WA                   Single Family
           17020638         MD                   PUD
           17020476         CT                   Single Family
           17020477         CA                   Single Family
           17020478         CA                   Single Family
           17020479         CO                   Single Family
           17020800         CA                   Single Family
           17020801         CA                   Single Family
           17020640         CO                   Single Family
           17020802         VA                   PUD
           17020641         AZ                   PUD
           17020803         CA                   Single Family
           17020642         CA                   Single Family
           17020480         NC                   PUD
           17020804         CA                   Single Family
           17020643         ID                   PUD
           17020481         VA                   PUD
           17020805         PA                   Single Family
           17020644         CA                   Condominium
           17020482         CA                   Single Family
           17020806         CA                   Single Family
           17020645         CA                   Condominium
           17020483         NC                   Condominium
           17020807         CA                   Single Family
           17020436         CA                   Condominium
           17020437         CA                   Single Family
           17020438         CA                   PUD
           17020439         NV                   PUD
           17020600         CA                   PUD
           17020601         CA                   Single Family
           17020602         CA                   Single Family
           17020440         CA                   Single Family
           17020603         VA                   Single Family
           17020441         IL                   Single Family
           17020604         CA                   PUD
           17020442         FL                   PUD
           17020605         VA                   Condominium
           17020606         CA                   PUD
           17020444         VA                   PUD
           17020607         AZ                   Single Family
           17020445         CA                   Condominium
           17020608         CA                   Single Family
           17020446         CA                   Condominium
           17020609         CA                   Single Family
           17020447         MD                   PUD
           17020448         CA                   Single Family
           17020449         MD                   Single Family
           17020610         CA                   Single Family
           17020611         CA                   Single Family
           17020771         CA                   Single Family
           17020772         CA                   Single Family
           17020773         CA                   Single Family
           17020774         IL                   Single Family
           17020775         AZ                   Single Family
           17020777         CA                   PUD
           17020778         CA                   Single Family
           17020779         CA                   Single Family
           17020780         CA                   Condominium
           17020400         IL                   Single Family
           17020401         CA                   PUD
           17020402         CA                   Single Family
           17020403         CA                   Condominium
           17020404         CA                   PUD
           17020405         WA                   Single Family
           17020406         CA                   Condominium
           17020407         NJ                   Single Family
           17020408         CA                   PUD
           17020409         AL                   PUD
           17020410         CA                   PUD
           17020411         CA                   Condominium
           17020412         VA                   Single Family
           17020413         CA                   Condominium
           17020415         CA                   PUD
           17020416         CA                   Condominium
           17020417         VA                   PUD
           17020418         NY                   Single Family
           17020419         NY                   Condominium
           17020420         CA                   PUD
           17020421         TX                   PUD
           17020422         MD                   Single Family
           17020423         VA                   PUD
           17020424         VA                   PUD
           17020425         NE                   PUD
           17020427         MD                   PUD
           17020428         NV                   PUD
           17020429         WA                   PUD
           17020430         CA                   Single Family
           17020431         CO                   PUD
           17020432         NV                   PUD
           17020433         CO                   Single Family
           17020434         MA                   Single Family
           17020761         AZ                   PUD
           17020762         CA                   Single Family
           17020763         TN                   Single Family
           17020764         CA                   Condominium
           17020765         CT                   Single Family
           17020766         MA                   Condominium
           17020767         MA                   2-4 Family
           17020768         MA                   Single Family
           17020769         MA                   Single Family
           17020770         MD                   PUD
           17020851         CA                   Single Family
           17020852         CA                   2-4 Family
           17020690         CA                   PUD
           17020853         CA                   PUD
           17020691         AZ                   PUD
           17020854         CA                   Single Family
           17020692         CA                   Single Family
           17020855         CA                   PUD
           17020693         VA                   PUD
           17020856         CA                   Single Family
           17020694         VA                   Single Family
           17020857         VA                   Single Family
           17020695         VA                   PUD
           17020858         FL                   Condominium
           17020696         CA                   Single Family
           17020859         CO                   PUD
           17020697         CA                   Single Family
           17020698         CA                   Single Family
           17020699         CA                   Single Family
           17020860         TX                   Single Family
           17020861         CA                   Single Family
           17020862         AZ                   Single Family
           17020740         RI                   Single Family
           17020741         CA                   Single Family
           17020742         CA                   Single Family
           17020580         CA                   Single Family
           17020743         NJ                   Single Family
           17020581         CA                   Single Family
           17020744         UT                   Single Family
           17020582         NJ                   Single Family
           17020745         CA                   PUD
           17020583         MD                   PUD
           17020746         SC                   Single Family
           17020584         CA                   Condominium
           17020747         CA                   PUD
           17020585         VA                   PUD
           17020748         CA                   Single Family
           17020586         NV                   PUD
           17020749         CA                   Single Family
           17020587         CA                   Single Family
           17020588         CA                   Single Family
           17020589         CA                   Single Family
           17020750         NY                   Single Family
           17020751         CA                   2-4 Family
           17020590         MD                   PUD
           17020752         NY                   Single Family
           17020591         CA                   Single Family
           17020753         CA                   Condominium
           17020592         CA                   PUD
           17020754         CA                   Single Family
           17020593         MD                   Single Family
           17020755         FL                   PUD
           17020594         WA                   Single Family
           17020756         CA                   Single Family
           17020595         IL                   Condominium
           17020757         CA                   Single Family
           17020596         CA                   Condominium
           17020758         AZ                   PUD
           17020597         NC                   Single Family
           17020759         FL                   Condominium
           17020598         CA                   Single Family
           17020599         MA                   Single Family
           17020760         AZ                   PUD
           17020738         CA                   PUD
           17020576         CA                   Single Family
           17020739         MA                   Condominium
           17020577         IL                   PUD
           17020578         MD                   Condominium
           17020390         VA                   PUD
           17149253         MA                   Condominium
           17129133         NY                   CO-OP
           17120372         CA                   Single Family
           17120377         CA                   Single Family
           17120399         CA                   Single Family
           17129138         CA                   PUD
           17120386         CA                   Condominium
           17120389         CA                   Condominium
           17120412         MD                   Single Family
           17120421         WA                   PUD
           17120390         CA                   Single Family
           17120391         CA                   PUD
           17120392         CA                   PUD
           17120393         CA                   Single Family
           17120394         CA                   Condominium
           17120395         CA                   Single Family
           17120397         CA                   Single Family
           17120398         CA                   Single Family
           17120385         CA                   Single Family
           17120387         IL                   Condominium
           17120388         WA                   PUD
           17120384         CA                   PUD
           17120330         AL                   Single Family
           17120331         CO                   Single Family
           17120332         NY                   Single Family
           17120333         CA                   PUD
           17120334         CT                   Single Family
           17120335         CA                   Single Family
           17120336         VA                   PUD
           17120337         CA                   Single Family
           17120338         CA                   PUD
           17120339         CA                   PUD
           17120341         CA                   PUD
           17120342         AZ                   PUD
           17120343         CT                   Single Family
           17120344         FL                   Single Family
           17120346         WA                   PUD
           17120347         WA                   Single Family
           17120348         CA                   Single Family
           17120349         NJ                   Condominium
           17120350         NY                   Single Family
           17120351         CA                   Single Family
           17120353         GA                   Single Family
           17120354         WA                   Single Family
           17120355         CA                   Condominium
           17120356         CA                   Single Family
           17120357         CA                   Single Family
           17120358         WA                   PUD
           17120359         WA                   Single Family
           17120360         CA                   Single Family
           17120361         CA                   Single Family
           17120362         WA                   Single Family
           17120363         CA                   Single Family
           17120364         CA                   Single Family
           17120365         CA                   Single Family
           17120366         CA                   Single Family
           17120367         FL                   Single Family
           17120370         VA                   Single Family
           17120371         CA                   Single Family
           17120373         CA                   Condominium
           17120374         MD                   PUD
           17120375         CA                   Single Family
           17120376         CA                   Single Family
           17120378         CA                   Condominium
           17120379         WA                   Single Family
           17120380         CA                   Single Family
           17120381         CA                   Single Family
           17120382         VA                   PUD
           17120383         CA                   PUD
           17120327         MA                   Single Family
           17120328         IL                   Single Family
           17149240         CA                   Condominium
           17149241         CA                   Single Family
           17149242         CA                   Condominium
           17149243         CA                   Single Family
           17149244         IL                   Single Family
           17149245         CA                   PUD
           17149246         CA                   Single Family
           17149247         CA                   Single Family
           17149248         CA                   Single Family
           17149249         CA                   Single Family
           17149250         CA                   PUD
           17149251         CA                   Single Family
           17149252         WA                   Single Family
           17149100         MD                   Condominium
           17149101         CA                   Single Family
           17149102         NH                   Single Family
           17129130         CO                   Single Family
           17129131         CA                   Single Family
           17129132         TX                   Single Family
           17129134         MA                   Condominium
           17129135         IL                   Single Family
           17129136         FL                   Single Family
           17129137         CA                   Single Family
           17129139         CA                   Single Family
           17129140         CO                   Condominium
           17129141         CA                   Condominium
           17129142         CA                   Single Family
           17129144         VA                   PUD
           17129145         CA                   PUD
           17129127         NY                   Single Family
           17129128         VA                   PUD
           17129129         TN                   PUD
           17120410         CA                   Single Family
           17120411         CA                   Single Family
           17120413         MA                   Single Family
           17120414         MA                   Single Family
           17120415         ID                   PUD
           17120416         CA                   Single Family
           17120417         CA                   Condominium
           17120418         ID                   Single Family
           17120419         CA                   PUD
           17120420         CA                   Single Family
           17120422         WA                   Single Family
           17120423         CA                   Condominium
           17120424         MA                   Single Family
           17120425         CA                   Single Family
           17120426         TN                   PUD
           17149077         MN                   Single Family
           17149078         GA                   Single Family
           17149079         IL                   Single Family
           17149080         CA                   Condominium
           17149081         CA                   Single Family
           17149082         VA                   Single Family
           17149083         UT                   PUD
           17149084         NJ                   Single Family
           17149086         CA                   Condominium
           17149087         WA                   Single Family
           17149088         CA                   Single Family
           17149089         NJ                   Single Family
           17149090         CA                   PUD
           17149091         CA                   Single Family
           17120401         CA                   Single Family
           17120402         IL                   Single Family
           17120403         TX                   PUD
           17120404         CA                   Single Family
           17120405         CA                   Single Family
           17120406         WA                   PUD
           17120407         WA                   PUD
           17120408         CA                   Condominium
           17120409         CA                   PUD
           17149092         MI                   Single Family
           17149093         WA                   PUD
           17149094         CA                   Single Family
           17149095         CA                   Single Family
           17149096         VA                   PUD
           17149097         CA                   Single Family
           17149098         CA                   PUD
           17149099         CA                   Single Family
           17120498         CA                   Single Family
           17120455         CA                   Condominium
           17120477         CA                   Single Family
           17120490         CA                   2-4 Family
           17120532         CA                   Single Family
           17120544         CA                   PUD
           17120540         CA                   Condominium
           17120541         CA                   PUD
           17120542         CA                   Single Family
           17120543         CA                   Single Family
           17120545         NV                   PUD
           17120546         CA                   Single Family
           17120547         CA                   Single Family
           17120548         CA                   Single Family
           17120549         CA                   Single Family
           17120550         CA                   PUD
           17120551         VA                   Single Family
           17120552         CA                   PUD
           17120553         CA                   PUD
           17120554         CA                   Single Family
           17120555         MT                   Single Family
           17120556         WA                   Single Family
           17120557         CA                   Single Family
           17120558         CA                   Single Family
           17120559         CA                   Single Family
           17120560         CA                   Condominium
           17120561         CA                   Condominium
           17120562         CA                   Single Family
           17120563         CA                   Single Family
           17120564         CA                   Condominium
           17120565         WA                   Single Family
           17120566         CA                   PUD
           17120567         CA                   Single Family
           17120568         CA                   Condominium
           17120569         CA                   Single Family
           17120570         WA                   PUD
           17120571         MD                   Single Family
           17120572         CA                   Single Family
           17120573         NV                   PUD
           17120574         NV                   PUD
           17120575         FL                   PUD
           17120576         TN                   PUD
           17120526         CA                   Single Family
           17120527         CA                   Single Family
           17120528         FL                   Single Family
           17120529         CT                   Single Family
           17120530         CA                   Single Family
           17120531         CA                   Single Family
           17120533         CA                   Single Family
           17120534         CA                   Single Family
           17120535         CA                   Single Family
           17120536         CA                   PUD
           17120537         VA                   Single Family
           17120538         CA                   Condominium
           17120539         CA                   Condominium
           17120510         CA                   Single Family
           17120511         CA                   PUD
           17120512         FL                   Single Family
           17120513         FL                   PUD
           17120514         MA                   Single Family
           17120515         MA                   Single Family
           17120516         CA                   Condominium
           17120517         CA                   Single Family
           17120518         CA                   Single Family
           17120519         CA                   PUD
           17120520         MA                   Single Family
           17120521         TX                   PUD
           17120522         PA                   PUD
           17120523         CA                   Condominium
           17120524         NJ                   Single Family
           17120525         UT                   Condominium
           17120500         CA                   Condominium
           17120501         VA                   PUD
           17120502         TN                   Single Family
           17120503         CA                   Single Family
           17120504         CA                   Single Family
           17120505         PA                   Single Family
           17120506         CA                   PUD
           17120507         CA                   Single Family
           17120508         FL                   PUD
           17120509         CA                   Single Family
           17149110         FL                   Single Family
           17149111         CA                   2-4 Family
           17149112         CA                   Single Family
           17149113         MD                   Single Family
           17149103         CO                   Condominium
           17149105         VA                   PUD
           17149106         CA                   Single Family
           17149107         CA                   Single Family
           17149108         CA                   Single Family
           17149109         OR                   PUD
           17120450         CA                   Single Family
           17120451         FL                   PUD
           17120452         CO                   PUD
           17120453         NJ                   Single Family
           17120454         CA                   Condominium
           17120456         WI                   Single Family
           17120457         NC                   PUD
           17120458         CA                   Single Family
           17120459         CA                   Single Family
           17120460         CA                   Single Family
           17120461         CA                   Single Family
           17120462         CA                   Condominium
           17120463         CA                   PUD
           17120464         CA                   Condominium
           17120465         CA                   PUD
           17120466         AZ                   PUD
           17120467         CA                   PUD
           17120468         FL                   Single Family
           17120469         FL                   PUD
           17120470         CA                   Single Family
           17120471         NV                   Single Family
           17120472         CO                   Single Family
           17120473         CA                   Single Family
           17120474         NY                   2-4 Family
           17120476         DC                   2-4 Family
           17120478         CA                   PUD
           17120479         CA                   Single Family
           17120480         CA                   Single Family
           17120481         CA                   PUD
           17120482         CA                   PUD
           17120483         CA                   Single Family
           17120484         CA                   Single Family
           17120485         CA                   Single Family
           17120486         CA                   Single Family
           17120487         CA                   Condominium
           17120488         WA                   Single Family
           17120489         CA                   Single Family
           17120491         CA                   2-4 Family
           17120492         VA                   PUD
           17120493         OR                   Single Family
           17120494         CA                   Condominium
           17120495         CA                   PUD
           17120496         CA                   Single Family
           17120499         NV                   PUD
           17120429         AL                   Single Family
           17120430         CA                   Condominium
           17120431         NC                   PUD
           17120432         CA                   Single Family
           17120433         CA                   Single Family
           17120434         CA                   Condominium
           17120436         CA                   Single Family
           17120437         TN                   Single Family
           17120438         CA                   PUD
           17120440         WA                   Single Family
           17120441         CA                   Condominium
           17120442         FL                   PUD
           17120443         AZ                   PUD
           17120444         CA                   Single Family
           17120445         CA                   Single Family
           17120446         NE                   Single Family
           17120447         WA                   Condominium
           17120448         CA                   Single Family
           17120449         CA                   Single Family
           17181086         NJ                   Single Family
           17171924         FL                   Single Family
           17172078         NC                   PUD
           17175048         CA                   Single Family
           17175049         NJ                   Single Family
           17171987         NM                   Condominium
           17172020         CA                   Single Family
           17203440         CA                   Single Family
           17172004         CA                   PUD
           17172023         NJ                   Single Family
           17172005         NJ                   PUD
           17203443         NM                   PUD
           17203445         CA                   PUD
           17203409         CA                   PUD
           17172044         GA                   Single Family
           17203427         CA                   Single Family
           17172008         NJ                   Condominium
           17181117         CA                   Single Family
           17172064         CA                   Single Family
           17203267         NC                   PUD
           17175071         KY                   Single Family
           17172065         CA                   Condominium
           17175054         CA                   Single Family
           17172048         GA                   Single Family
           17172049         GA                   PUD
           17171951         NC                   PUD
           17171995         KY                   Single Family
           17203410         CA                   Single Family
           17181120         NJ                   Single Family
           17172112         NJ                   Condominium
           17172014         CA                   Single Family
           17203451         MA                   Single Family
           17172051         NC                   PUD
           17203255         NJ                   Single Family
           17172053         NJ                   Single Family
           17203437         GA                   PUD
           17172036         CA                   PUD
           17172136         FL                   PUD
           17172073         CA                   Single Family
           17172055         NV                   PUD
           17203294         FL                   PUD
           17203278         MA                   Single Family
           17203359         MA                   Single Family
           17172039         GA                   PUD
           17203396         GA                   PUD
           17203423         FL                   Single Family
           17203388         CA                   PUD
           17203364         HI                   Single Family
           17203354         CA                   Single Family
           17203317         CA                   Single Family
           17171965         OR                   Single Family
           17203331         IL                   Single Family
           17172132         CA                   PUD
           17172133         VA                   Single Family
           17172127         IL                   Single Family
           17172130         MD                   Single Family
           17172104         CA                   Single Family
           17172114         CA                   Single Family
           17172125         CO                   PUD
           17172126         CA                   PUD
           17171998         CA                   Condominium
           17172001         WA                   Condominium
           17172002         CA                   Single Family
           17172010         CA                   Condominium
           17172022         AZ                   PUD
           17172033         CA                   PUD
           17172041         CA                   Single Family
           17172057         VA                   PUD
           17172061         CA                   Single Family
           17172068         UT                   Single Family
           17172074         CA                   Single Family
           17172084         CA                   Single Family
           17172086         CA                   Condominium
           17171926         AZ                   Single Family
           17171946         CA                   Single Family
           17171952         CA                   Condominium
           17171957         CA                   Single Family
           17171960         SC                   PUD
           17171979         CA                   Single Family
           17171980         CA                   PUD
           17171983         CA                   Single Family
           17171990         CA                   Single Family
           17171992         CA                   Single Family
           17171922         CA                   Single Family
           17203303         CA                   Single Family
           17203452         MA                   Single Family
           17203340         IL                   Single Family
           17203351         CA                   Single Family
           17203283         NV                   PUD
           17203252         WA                   PUD
           17203412         CA                   Single Family
           17203321         CA                   Single Family
           17203385         CA                   Condominium
           17203392         NY                   Single Family
           17203401         FL                   Condominium
           17203435         CA                   PUD
           17203383         CA                   PUD
           17203323         WI                   Single Family
           17203449         NY                   Single Family
           17203328         CA                   Single Family
           17203339         MD                   PUD
           17203315         CA                   Single Family
           17203257         VA                   Single Family
           17203295         CA                   Condominium
           17203290         CA                   Single Family
           17203299         AZ                   PUD
           17203424         CA                   Condominium
           17203379         MD                   PUD
           17203256         NV                   PUD
           17203422         CA                   Single Family
           17203253         WA                   Single Family
           17203312         CA                   Single Family
           17203293         CA                   PUD
           17203418         IL                   Single Family
           17203314         CA                   Condominium
           17203448         VA                   PUD
           17203384         CA                   PUD
           17203281         AL                   Single Family
           17203348         NY                   Single Family
           17203390         CA                   Single Family
           17203310         CA                   Single Family
           17203363         IL                   Single Family
           17203425         MD                   PUD
           17203373         NY                   Single Family
           17203266         VA                   Single Family
           17203358         CA                   Single Family
           17203429         FL                   PUD
           17203371         CA                   Single Family
           17203337         FL                   Single Family
           17203421         CA                   Single Family
           17203430         CA                   Single Family
           17203247         WA                   Single Family
           17203320         CA                   Single Family
           17203405         CA                   Single Family
           17203270         FL                   PUD
           17203362         NY                   Single Family
           17203361         FL                   Single Family
           17203272         FL                   PUD
           17203350         CA                   Single Family
           17203403         CA                   Single Family
           17203301         CA                   PUD
           17203349         CA                   Single Family
           17203338         CA                   Condominium
           17203345         CA                   Single Family
           17203307         CA                   Single Family
           17203357         CA                   Single Family
           17203442         CA                   Single Family
           17203277         CA                   Single Family
           17203280         AZ                   PUD
           17203344         LA                   Single Family
           17203381         DC                   Condominium
           17203436         IL                   Single Family
           17203333         HI                   Condominium
           17203316         IL                   Single Family
           17203305         CA                   Condominium
           17203292         AZ                   PUD
           17203419         CA                   Single Family
           17203433         DE                   Condominium
           17203438         CA                   Single Family
           17203284         CA                   Single Family
           17203275         CA                   PUD
           17203411         CA                   Single Family
           17203324         SC                   PUD
           17203408         CA                   Condominium
           17203300         WA                   PUD
           17203273         FL                   Condominium
           17203446         CT                   Single Family
           17203415         CA                   PUD
           17203389         CA                   Single Family
           17203398         FL                   Single Family
           17203274         AZ                   Single Family
           17203318         CA                   Single Family
           17203391         WA                   Single Family
           17203399         CA                   Single Family
           17203450         IL                   Single Family
           17203447         FL                   Single Family
           17203453         VA                   PUD
           17203428         CO                   PUD
           17203313         CA                   PUD
           17203431         AZ                   PUD
           17203417         CA                   Single Family
           17203343         CA                   Single Family
           17203360         CA                   PUD
           17203416         WA                   PUD
           17203406         CA                   Single Family
           17203367         CA                   Single Family
           17203380         CA                   PUD
           17203286         IL                   PUD
           17203330         NY                   2-4 Family
           17203249         VA                   PUD
           17203342         MO                   Single Family
           17203346         NY                   Single Family
           17203264         CO                   Single Family
           17203322         CA                   Condominium
           17203397         CA                   Single Family
           17203407         CA                   Single Family
           17203336         CA                   Single Family
           17203374         CA                   PUD
           17203329         MI                   Single Family
           17203327         CA                   Single Family
           17203369         CA                   Single Family
           17203335         CA                   Condominium
           17203291         CA                   Single Family
           17203289         CA                   PUD
           17203372         CA                   Condominium
           17203296         AZ                   Single Family
           17203254         CA                   Single Family
           17203444         SC                   PUD
           17203365         VA                   Single Family
           17203259         CO                   PUD
           17203366         DC                   Single Family
           17203353         CA                   PUD
           17203285         IL                   PUD
           17203352         NY                   Single Family
           17203306         IL                   Single Family
           17203414         CA                   PUD
           17203393         CA                   Single Family
           17203382         CA                   PUD
           17203302         MD                   PUD
           17203356         CA                   Single Family
           17203387         CA                   PUD
           17203377         VA                   Single Family
           17203308         CA                   Single Family
           17203276         CO                   PUD
           17203288         CA                   PUD
           17203378         CA                   Single Family
           17203376         CA                   PUD
           17203370         CA                   Condominium
           17203248         CO                   Single Family
           17203341         CA                   Single Family
           17203334         FL                   PUD
           17203395         SC                   PUD
           17203332         CA                   PUD
           17203309         CA                   PUD
           17203375         CA                   Single Family
           17203279         CA                   Condominium
           17203386         CA                   Single Family
           17203311         CA                   Single Family
           17203420         MD                   PUD
           17203402         AZ                   Single Family
           17203439         OR                   PUD
           17203297         AZ                   Single Family
           17203282         CA                   Single Family
           17203368         CA                   Single Family
           17203394         MN                   Single Family
           17203400         CA                   Single Family
           17203355         CA                   Single Family
           17203404         VA                   PUD
           17203426         UT                   Single Family
           17203298         CA                   Condominium
           17203304         NM                   Single Family
           17203434         CA                   Single Family
           17171962         CO                   PUD
           17171963         CA                   Condominium
           17171966         CA                   Condominium
           17171967         MA                   Single Family
           17171968         MI                   Single Family
           17171969         AL                   Single Family
           17171970         TX                   Single Family
           17171971         CA                   Single Family
           17171973         MI                   Single Family
           17171974         CA                   PUD
           17171978         NY                   Single Family
           17171982         CA                   Single Family
           17171985         CA                   Condominium
           17171986         CT                   Single Family
           17171988         CA                   Single Family
           17171989         CA                   Single Family
           17171991         CA                   Single Family
           17171993         CA                   PUD
           17171996         MD                   PUD
           17171999         CA                   Condominium
           17171950         CA                   Single Family
           17171955         CA                   Single Family
           17171916         CA                   Condominium
           17171917         NY                   Single Family
           17171918         CA                   PUD
           17171919         MA                   Single Family
           17171920         AZ                   PUD
           17171921         CA                   Condominium
           17171923         IL                   Single Family
           17171925         AZ                   Single Family
           17171927         AZ                   PUD
           17171933         FL                   PUD
           17171935         IL                   Single Family
           17171937         IL                   Single Family
           17171939         CA                   Single Family
           17171945         CT                   Single Family
           17171949         AZ                   PUD
           17175070         CA                   Single Family
           17175072         CA                   PUD
           17175056         CA                   PUD
           17175057         CA                   PUD
           17175059         VA                   PUD
           17175060         CA                   Single Family
           17175061         VA                   Single Family
           17175062         CA                   Single Family
           17175063         CA                   Single Family
           17175064         CA                   2-4 Family
           17175065         CA                   Single Family
           17175066         CA                   Condominium
           17175067         IL                   Single Family
           17175068         CA                   Single Family
           17175069         CA                   Single Family
           17175031         AZ                   Single Family
           17175032         AR                   PUD
           17175034         CA                   Single Family
           17175035         CA                   Single Family
           17175036         FL                   PUD
           17175037         MO                   Single Family
           17175040         AZ                   PUD
           17175041         MD                   PUD
           17175042         CA                   Single Family
           17175043         AZ                   Single Family
           17175045         MD                   Single Family
           17175046         CO                   PUD
           17175047         UT                   PUD
           17175050         CA                   PUD
           17175051         CA                   Condominium
           17175052         CA                   Single Family
           17175053         FL                   PUD
           17175024         ID                   Single Family
           17175025         VA                   Single Family
           17175026         IL                   PUD
           17175027         CA                   PUD
           17175028         VA                   PUD
           17175029         VA                   PUD
           17172120         CA                   Single Family
           17172121         OR                   Single Family
           17172122         CA                   Condominium
           17172123         CA                   Single Family
           17172124         FL                   Single Family
           17172128         CA                   Single Family
           17172129         CA                   PUD
           17172131         CA                   PUD
           17172134         NV                   Single Family
           17172135         CA                   Single Family
           17172137         VA                   Single Family
           17172138         AL                   Single Family
           17172139         CA                   Condominium
           17172100         VA                   PUD
           17172101         CA                   PUD
           17172102         CA                   Condominium
           17172103         CA                   Single Family
           17172105         CA                   2-4 Family
           17172106         CA                   Single Family
           17172107         AZ                   PUD
           17172108         UT                   Single Family
           17172109         CA                   Single Family
           17172110         CA                   Single Family
           17172111         CA                   Single Family
           17172113         CA                   PUD
           17172115         CA                   PUD
           17172116         CA                   Single Family
           17172117         CA                   PUD
           17172119         VA                   Single Family
           17181161         FL                   PUD
           17172090         CA                   Single Family
           17181162         MD                   Single Family
           17172091         CO                   PUD
           17172092         CA                   Single Family
           17172093         CT                   Single Family
           17172094         CA                   PUD
           17172095         VA                   Single Family
           17172097         VA                   PUD
           17172098         CA                   Single Family
           17172099         VA                   PUD
           17181150         CA                   Single Family
           17181151         CA                   Single Family
           17172080         FL                   PUD
           17181152         MD                   PUD
           17172081         WA                   Single Family
           17181153         CA                   Condominium
           17172082         CA                   Single Family
           17181154         FL                   PUD
           17172083         OR                   Condominium
           17172085         WA                   PUD
           17181158         PA                   Single Family
           17172087         VA                   PUD
           17181159         CA                   Single Family
           17172088         FL                   Single Family
           17172089         CA                   Condominium
           17172060         CA                   PUD
           17181132         CA                   PUD
           17181133         CA                   Single Family
           17172062         OR                   PUD
           17181134         MD                   Single Family
           17172063         CA                   Single Family
           17181135         CA                   Single Family
           17181136         CA                   Single Family
           17172066         CA                   PUD
           17181138         CA                   Single Family
           17172067         CA                   PUD
           17172069         AL                   PUD
           17181140         CA                   PUD
           17172070         CT                   Single Family
           17172071         CA                   Single Family
           17181143         WA                   Single Family
           17172072         CA                   Condominium
           17181145         CA                   Condominium
           17181146         CO                   Single Family
           17172075         CA                   Single Family
           17181147         CA                   PUD
           17172076         CA                   Single Family
           17181148         CA                   Single Family
           17172077         CA                   PUD
           17172079         IL                   Condominium
           17181130         CA                   Single Family
           17181131         CA                   PUD
           17181121         VA                   PUD
           17172050         FL                   PUD
           17181122         MI                   Single Family
           17181123         CA                   Single Family
           17172052         TX                   PUD
           17181124         OR                   Single Family
           17181125         CA                   Single Family
           17172054         CA                   Single Family
           17181126         MD                   PUD
           17172056         CA                   Single Family
           17172059         CA                   Single Family
           17172047         CA                   Condominium
           17181119         CA                   Condominium
           17172021         CA                   PUD
           17172024         CA                   Single Family
           17172025         NY                   Condominium
           17172026         NE                   Single Family
           17172027         DE                   Single Family
           17172028         HI                   Single Family
           17172029         MN                   Single Family
           17181100         CA                   Single Family
           17181101         WA                   Single Family
           17172030         TX                   Condominium
           17181102         CA                   Single Family
           17172031         CA                   Single Family
           17172032         CA                   Single Family
           17181104         AZ                   Single Family
           17181105         IL                   PUD
           17172034         FL                   PUD
           17181106         CA                   PUD
           17172035         CA                   PUD
           17181107         WA                   Condominium
           17181108         CO                   PUD
           17172037         NY                   Condominium
           17181109         CA                   Single Family
           17172038         WA                   Single Family
           17181110         CA                   PUD
           17181111         NY                   Single Family
           17172040         MA                   Single Family
           17181112         CA                   Single Family
           17181113         NY                   Single Family
           17172042         CA                   Single Family
           17181114         CA                   PUD
           17172043         SC                   Single Family
           17181115         NY                   CO-OP
           17181116         CA                   PUD
           17172045         ID                   Single Family
           17172046         CA                   Condominium
           17172017         MD                   PUD
           17172018         VA                   Single Family
           17172019         CA                   Single Family
           17172000         CA                   2-4 Family
           17172006         AZ                   PUD
           17172007         MD                   PUD
           17172009         CA                   Single Family
           17172011         NY                   Single Family
           17172013         ME                   Condominium
           17172015         OR                   PUD
           17172016         VA                   Single Family
           17181088         CA                   PUD
           17181090         CA                   Single Family
           17181092         KS                   PUD
           17181093         CA                   PUD
           17181094         CA                   PUD
           17181095         VA                   PUD
           17181096         CA                   Single Family
           17181097         CA                   PUD
           17181099         WA                   PUD
           17181082         CA                   Single Family
           17181083         CA                   Single Family
           17181084         IL                   PUD
           17181085         IL                   Condominium
           17172140         NV                   Single Family
           17172141         CA                   Condominium
           17172142         SC                   Condominium
           17175038         CA                   Single Family
           17175039         CA                   Single Family
           17175044         CA                   Single Family
           17175073         AZ                   Single Family
           17181098         CA                   Single Family
           17181103         CA                   Condominium
           17181118         OR                   Single Family
           17181128         CA                   Condominium
           17181129         CA                   PUD
           17181137         CA                   Single Family
           17181139         CA                   Condominium
           17181144         HI                   Single Family
           17181149         IL                   Single Family
           17181155         CA                   Single Family
           17181156         CA                   Single Family
           17181157         CA                   Single Family
           17181160         CA                   Condominium
           17171928         CA                   PUD
           17171929         CA                   PUD
           17171930         WY                   Single Family
           17171931         VA                   PUD
           17171932         FL                   PUD
           17171934         SC                   PUD
           17171936         MD                   PUD
           17171938         CA                   PUD
           17171940         AZ                   PUD
           17171941         CA                   Single Family
           17171942         CA                   PUD
           17171943         MN                   PUD
           17171944         CA                   Single Family
           17171947         CA                   PUD
           17171948         CA                   PUD
           17171953         CA                   PUD
           17171954         NV                   PUD
           17171956         CA                   Condominium
           17171958         SC                   PUD
           17171959         CA                   PUD
           17171961         CA                   Single Family
           17171964         CA                   Single Family
           17171975         FL                   PUD
           17171976         CA                   Single Family
           17171977         AZ                   Single Family
           17171981         CA                   Condominium
           17171984         CA                   Single Family
           17171994         CA                   Single Family
           17171997         CA                   Single Family
           17172003         CA                   PUD
           17172058         CA                   Single Family
           17175030         CA                   PUD
           17175033         CA                   Condominium
           17175055         CA                   Single Family
           17181087         MD                   Single Family
           17181089         UT                   Single Family
           17181091         ID                   PUD
           17181127         MN                   Single Family
           17172118         CA                   Single Family
           17181142         UT                   Single Family

           LOAN_SEQ                                  CURRENT_GROSS_COUPON             SERV_FEE
           17020574                                          6.3750                    0.1750
           17020737                                          5.3750                    0.1750
           17020575                                          5.7500                    0.1750
           17020498                                          6.2500                    0.1750
           17020499                                          5.7500                    0.1750
           17020820                                          5.6250                    0.1750
           17020821                                          5.8750                    0.1750
           17020660                                          6.6250                    0.1750
           17020822                                          5.7500                    0.1750
           17020661                                          5.7500                    0.1750
           17020823                                          6.0000                    0.1750
           17020662                                          6.1250                    0.1750
           17020824                                          5.8750                    0.1750
           17020663                                          6.2500                    0.1750
           17020825                                          5.7500                    0.1750
           17020664                                          6.3750                    0.1750
           17020826                                          5.8750                    0.1750
           17020665                                          5.7500                    0.1750
           17020827                                          6.0000                    0.1750
           17020828                                          5.8750                    0.1750
           17020667                                          6.0000                    0.1750
           17020829                                          5.3750                    0.1750
           17020668                                          6.3750                    0.1750
           17020669                                          5.8750                    0.1750
           17020830                                          5.7500                    0.1750
           17020831                                          5.8750                    0.1750
           17020670                                          5.8750                    0.1750
           17020832                                          6.2500                    0.1750
           17020833                                          5.8750                    0.1750
           17020671                                          6.0000                    0.1750
           17020834                                          5.8750                    0.1750
           17020672                                          6.3750                    0.1750
           17020835                                          6.2500                    0.1750
           17020673                                          5.2500                    0.1750
           17020836                                          6.0000                    0.1750
           17020674                                          5.8750                    0.1750
           17020837                                          6.1250                    0.1750
           17020675                                          5.8750                    0.1750
           17020838                                          5.5000                    0.1750
           17020676                                          6.0000                    0.1750
           17020839                                          5.3750                    0.1750
           17020677                                          6.6250                    0.1750
           17020678                                          6.6250                    0.1750
           17020679                                          6.3750                    0.1750
           17020840                                          5.8750                    0.1750
           17020841                                          5.8750                    0.1750
           17020842                                          5.7500                    0.1750
           17020680                                          6.8750                    0.1750
           17020843                                          5.8750                    0.1750
           17020681                                          6.2500                    0.1750
           17020844                                          6.0000                    0.1750
           17020682                                          6.0000                    0.1750
           17020845                                          6.0000                    0.1750
           17020683                                          5.6250                    0.1750
           17020846                                          5.3750                    0.1750
           17020684                                          5.8750                    0.1750
           17020685                                          5.8750                    0.1750
           17020848                                          6.3750                    0.1750
           17020686                                          6.2500                    0.1750
           17020849                                          6.2500                    0.1750
           17020687                                          6.2500                    0.1750
           17020688                                          6.5000                    0.1750
           17020689                                          6.0000                    0.1750
           17020850                                          5.8750                    0.1750
           17020657                                          5.8750                    0.1750
           17020495                                          6.0000                    0.1750
           17020819                                          6.1250                    0.1750
           17020658                                          6.3750                    0.1750
           17020496                                          6.0000                    0.1750
           17020659                                          6.0000                    0.1750
           17020497                                          6.0000                    0.1750
           17020492                                          5.7500                    0.1750
           17020816                                          5.8750                    0.1750
           17020655                                          6.1250                    0.1750
           17020493                                          6.2500                    0.1750
           17020817                                          5.2500                    0.1750
           17020656                                          6.2500                    0.1750
           17020494                                          6.1250                    0.1750
           17020812                                          6.3750                    0.1750
           17020651                                          6.5000                    0.1750
           17020813                                          6.1250                    0.1750
           17020814                                          5.8750                    0.1750
           17020652                                          6.2500                    0.1750
           17020490                                          5.5000                    0.1750
           17020491                                          5.6250                    0.1750
           17020815                                          5.7500                    0.1750
           17020654                                          6.3750                    0.1750
           17020500                                          6.1250                    0.1750
           17020501                                          6.6250                    0.1750
           17020502                                          5.7500                    0.1750
           17020503                                          5.5000                    0.1750
           17020504                                          6.1250                    0.1750
           17020505                                          6.2500                    0.1750
           17020506                                          5.8750                    0.1750
           17020507                                          6.1250                    0.1750
           17020508                                          5.8750                    0.1750
           17020509                                          6.2500                    0.1750
           17020510                                          5.6250                    0.1750
           17020511                                          6.1250                    0.1750
           17020512                                          6.1250                    0.1750
           17020513                                          5.7500                    0.1750
           17020514                                          5.0000                    0.1750
           17020515                                          6.2500                    0.1750
           17020516                                          6.0000                    0.1750
           17020517                                          6.1250                    0.1750
           17020518                                          6.0000                    0.1750
           17020519                                          5.3750                    0.1750
           17020520                                          5.7500                    0.1750
           17020521                                          5.8750                    0.1750
           17020522                                          5.8750                    0.1750
           17020523                                          6.1250                    0.1750
           17020524                                          6.2500                    0.1750
           17020525                                          6.2500                    0.1750
           17020526                                          5.6250                    0.1750
           17020527                                          5.7500                    0.1750
           17020528                                          5.0000                    0.1750
           17020529                                          5.3750                    0.1750
           17020530                                          6.2500                    0.1750
           17020531                                          5.8750                    0.1750
           17020532                                          5.7500                    0.1750
           17020533                                          5.8750                    0.1750
           17020534                                          6.2500                    0.1750
           17020535                                          5.7500                    0.1750
           17020536                                          6.2500                    0.1750
           17020537                                          5.8750                    0.1750
           17020538                                          5.2500                    0.1750
           17020539                                          6.1250                    0.1750
           17020700                                          5.8750                    0.1750
           17020701                                          5.2500                    0.1750
           17020702                                          6.1250                    0.1750
           17020540                                          5.8750                    0.1750
           17020703                                          6.3750                    0.1750
           17020541                                          5.8750                    0.1750
           17020704                                          6.5000                    0.1750
           17020542                                          5.7500                    0.1750
           17020705                                          5.8750                    0.1750
           17020543                                          6.3750                    0.1750
           17020706                                          5.8750                    0.1750
           17020544                                          5.8750                    0.1750
           17020707                                          6.6250                    0.1750
           17020545                                          6.0000                    0.1750
           17020708                                          6.0000                    0.1750
           17020546                                          5.8750                    0.1750
           17020547                                          5.2500                    0.1750
           17020385                                          6.1250                    0.1750
           17020548                                          5.6250                    0.1750
           17020386                                          5.2500                    0.1750
           17020549                                          6.3750                    0.1750
           17020387                                          6.0000                    0.1750
           17020388                                          5.3750                    0.1750
           17020389                                          4.7500                    0.1750
           17020710                                          6.2500                    0.1750
           17020711                                          5.7500                    0.1750
           17020550                                          5.8750                    0.1750
           17020712                                          5.5000                    0.1750
           17020551                                          5.8750                    0.1750
           17020713                                          6.0000                    0.1750
           17020714                                          5.7500                    0.1750
           17020552                                          5.1250                    0.1750
           17020715                                          5.0000                    0.1750
           17020553                                          5.6250                    0.1750
           17020391                                          5.5000                    0.1750
           17020392                                          5.8750                    0.1750
           17020554                                          5.8750                    0.1750
           17020716                                          6.5000                    0.1750
           17020717                                          5.6250                    0.1750
           17020555                                          6.1250                    0.1750
           17020393                                          5.6250                    0.1750
           17020718                                          4.8750                    0.1750
           17020556                                          6.2500                    0.1750
           17020394                                          6.5000                    0.1750
           17020395                                          6.3750                    0.1750
           17020557                                          6.2500                    0.1750
           17020719                                          6.1250                    0.1750
           17020558                                          5.7500                    0.1750
           17020397                                          6.3750                    0.1750
           17020559                                          5.7500                    0.1750
           17020398                                          5.8750                    0.1750
           17020399                                          5.8750                    0.1750
           17020720                                          6.3750                    0.1750
           17020721                                          6.0000                    0.1750
           17020722                                          5.7500                    0.1750
           17020560                                          6.3750                    0.1750
           17020723                                          6.2500                    0.1750
           17020561                                          5.7500                    0.1750
           17020724                                          5.8750                    0.1750
           17020562                                          5.2500                    0.1750
           17020725                                          6.2500                    0.1750
           17020563                                          5.7500                    0.1750
           17020726                                          5.8750                    0.1750
           17020564                                          5.8750                    0.1750
           17020727                                          5.8750                    0.1750
           17020565                                          6.2500                    0.1750
           17020728                                          6.5000                    0.1750
           17020566                                          6.3750                    0.1750
           17020729                                          5.1250                    0.1750
           17020567                                          5.8750                    0.1750
           17020568                                          5.6250                    0.1750
           17020569                                          5.6250                    0.1750
           17020730                                          6.7500                    0.1750
           17020731                                          4.7500                    0.1750
           17020732                                          6.1250                    0.1750
           17020570                                          6.3750                    0.1750
           17020733                                          6.0000                    0.1750
           17020571                                          6.2500                    0.1750
           17020734                                          6.1250                    0.1750
           17020572                                          6.6250                    0.1750
           17020735                                          6.1250                    0.1750
           17020573                                          6.0000                    0.1750
           17020736                                          6.1250                    0.1750
           17020487                                          5.8750                    0.1750
           17020488                                          5.8750                    0.1750
           17020489                                          5.7500                    0.1750
           17020810                                          6.2500                    0.1750
           17020811                                          6.2500                    0.1750
           17020650                                          5.5000                    0.1750
           17020791                                          5.7500                    0.1750
           17020792                                          6.0000                    0.1750
           17020793                                          6.0000                    0.1750
           17020794                                          5.6250                    0.1750
           17020795                                          5.2500                    0.1750
           17020796                                          6.1250                    0.1750
           17020797                                          5.7500                    0.1750
           17020798                                          6.0000                    0.1750
           17020799                                          5.7500                    0.1750
           17020790                                          6.2500                    0.1750
           17020646                                          6.1250                    0.1750
           17020484                                          6.0000                    0.1750
           17020808                                          6.0000                    0.1750
           17020647                                          5.8750                    0.1750
           17020485                                          5.8750                    0.1750
           17020809                                          5.5000                    0.1750
           17020648                                          6.0000                    0.1750
           17020486                                          5.6250                    0.1750
           17020649                                          5.8750                    0.1750
           17020781                                          6.3750                    0.1750
           17020782                                          5.7500                    0.1750
           17020783                                          6.2500                    0.1750
           17020784                                          5.7500                    0.1750
           17020785                                          5.3750                    0.1750
           17020786                                          5.8750                    0.1750
           17020787                                          5.8750                    0.1750
           17020788                                          6.1250                    0.1750
           17020789                                          5.7500                    0.1750
           17020612                                          6.2500                    0.1750
           17020450                                          5.2500                    0.1750
           17020613                                          6.5000                    0.1750
           17020451                                          5.8750                    0.1750
           17020614                                          6.1250                    0.1750
           17020452                                          5.6250                    0.1750
           17020615                                          6.1250                    0.1750
           17020453                                          6.3750                    0.1750
           17020616                                          5.7500                    0.1750
           17020454                                          5.8750                    0.1750
           17020617                                          5.1250                    0.1750
           17020455                                          6.1250                    0.1750
           17020456                                          5.8750                    0.1750
           17020618                                          6.8750                    0.1750
           17020619                                          4.7500                    0.1750
           17020457                                          6.5000                    0.1750
           17020458                                          6.0000                    0.1750
           17020459                                          5.6250                    0.1750
           17020620                                          6.1250                    0.1750
           17020621                                          5.6250                    0.1750
           17020622                                          6.1250                    0.1750
           17020460                                          5.8750                    0.1750
           17020623                                          5.8750                    0.1750
           17020461                                          5.0000                    0.1750
           17020624                                          6.3750                    0.1750
           17020462                                          6.0000                    0.1750
           17020625                                          5.8750                    0.1750
           17020463                                          6.1250                    0.1750
           17020626                                          5.8750                    0.1750
           17020464                                          5.8750                    0.1750
           17020627                                          5.8750                    0.1750
           17020465                                          6.0000                    0.1750
           17020628                                          6.1250                    0.1750
           17020466                                          5.6250                    0.1750
           17020629                                          5.7500                    0.1750
           17020467                                          5.7500                    0.1750
           17020468                                          6.3750                    0.1750
           17020469                                          6.1250                    0.1750
           17020630                                          5.0000                    0.1750
           17020631                                          6.0000                    0.1750
           17020632                                          5.5000                    0.1750
           17020470                                          5.6250                    0.1750
           17020633                                          6.1250                    0.1750
           17020471                                          6.5000                    0.1750
           17020634                                          6.2500                    0.1750
           17020472                                          6.3750                    0.1750
           17020635                                          5.7500                    0.1750
           17020473                                          6.1250                    0.1750
           17020636                                          5.6250                    0.1750
           17020474                                          5.7500                    0.1750
           17020637                                          5.2500                    0.1750
           17020475                                          5.6250                    0.1750
           17020638                                          5.8750                    0.1750
           17020476                                          5.8750                    0.1750
           17020477                                          6.1250                    0.1750
           17020478                                          5.7500                    0.1750
           17020479                                          6.2500                    0.1750
           17020800                                          5.5000                    0.1750
           17020801                                          6.5000                    0.1750
           17020640                                          6.1250                    0.1750
           17020802                                          6.5000                    0.1750
           17020641                                          6.2500                    0.1750
           17020803                                          6.0000                    0.1750
           17020642                                          5.7500                    0.1750
           17020480                                          6.0000                    0.1750
           17020804                                          6.1250                    0.1750
           17020643                                          5.6250                    0.1750
           17020481                                          5.7500                    0.1750
           17020805                                          5.7500                    0.1750
           17020644                                          4.8750                    0.1750
           17020482                                          6.2500                    0.1750
           17020806                                          5.8750                    0.1750
           17020645                                          6.1250                    0.1750
           17020483                                          6.3750                    0.1750
           17020807                                          5.3750                    0.1750
           17020436                                          5.8750                    0.1750
           17020437                                          5.6250                    0.1750
           17020438                                          5.8750                    0.1750
           17020439                                          5.3750                    0.1750
           17020600                                          6.0000                    0.1750
           17020601                                          6.2500                    0.1750
           17020602                                          5.5000                    0.1750
           17020440                                          6.7500                    0.1750
           17020603                                          5.2500                    0.1750
           17020441                                          6.2500                    0.1750
           17020604                                          5.7500                    0.1750
           17020442                                          5.8750                    0.1750
           17020605                                          6.3750                    0.1750
           17020606                                          5.7500                    0.1750
           17020444                                          5.0000                    0.1750
           17020607                                          6.1250                    0.1750
           17020445                                          6.0000                    0.1750
           17020608                                          6.1250                    0.1750
           17020446                                          5.5000                    0.1750
           17020609                                          5.7500                    0.1750
           17020447                                          5.6250                    0.1750
           17020448                                          5.0000                    0.1750
           17020449                                          5.5000                    0.1750
           17020610                                          5.6250                    0.1750
           17020611                                          5.0000                    0.1750
           17020771                                          6.1250                    0.1750
           17020772                                          5.5000                    0.1750
           17020773                                          5.8750                    0.1750
           17020774                                          6.0000                    0.1750
           17020775                                          5.7500                    0.1750
           17020777                                          6.1250                    0.1750
           17020778                                          6.1250                    0.1750
           17020779                                          6.3750                    0.1750
           17020780                                          5.6250                    0.1750
           17020400                                          6.1250                    0.1750
           17020401                                          6.1250                    0.1750
           17020402                                          4.7500                    0.1750
           17020403                                          5.6250                    0.1750
           17020404                                          5.3750                    0.1750
           17020405                                          6.5000                    0.1750
           17020406                                          6.0000                    0.1750
           17020407                                          6.2500                    0.1750
           17020408                                          6.0000                    0.1750
           17020409                                          6.1250                    0.1750
           17020410                                          5.8750                    0.1750
           17020411                                          5.5000                    0.1750
           17020412                                          6.2500                    0.1750
           17020413                                          6.1250                    0.1750
           17020415                                          5.7500                    0.1750
           17020416                                          5.8750                    0.1750
           17020417                                          5.8750                    0.1750
           17020418                                          6.1250                    0.1750
           17020419                                          6.0000                    0.1750
           17020420                                          5.8750                    0.1750
           17020421                                          6.5000                    0.1750
           17020422                                          5.1250                    0.1750
           17020423                                          6.0000                    0.1750
           17020424                                          6.5000                    0.1750
           17020425                                          6.3750                    0.1750
           17020427                                          6.3750                    0.1750
           17020428                                          6.5000                    0.1750
           17020429                                          6.1250                    0.1750
           17020430                                          6.2500                    0.1750
           17020431                                          6.2500                    0.1750
           17020432                                          6.3750                    0.1750
           17020433                                          6.0000                    0.1750
           17020434                                          6.2500                    0.1750
           17020761                                          5.8750                    0.1750
           17020762                                          5.5000                    0.1750
           17020763                                          5.8750                    0.1750
           17020764                                          5.3750                    0.1750
           17020765                                          6.5000                    0.1750
           17020766                                          5.8750                    0.1750
           17020767                                          6.2500                    0.1750
           17020768                                          6.5000                    0.1750
           17020769                                          6.0000                    0.1750
           17020770                                          5.3750                    0.1750
           17020851                                          5.0000                    0.1750
           17020852                                          5.5000                    0.1750
           17020690                                          6.2500                    0.1750
           17020853                                          6.0000                    0.1750
           17020691                                          6.2500                    0.1750
           17020854                                          6.3750                    0.1750
           17020692                                          6.2500                    0.1750
           17020855                                          5.8750                    0.1750
           17020693                                          6.5000                    0.1750
           17020856                                          5.5000                    0.1750
           17020694                                          5.7500                    0.1750
           17020857                                          5.8750                    0.1750
           17020695                                          6.2500                    0.1750
           17020858                                          5.8750                    0.1750
           17020696                                          6.2500                    0.1750
           17020859                                          6.0000                    0.1750
           17020697                                          5.7500                    0.1750
           17020698                                          6.5000                    0.1750
           17020699                                          6.2500                    0.1750
           17020860                                          4.7500                    0.1750
           17020861                                          6.0000                    0.1750
           17020862                                          5.6250                    0.1750
           17020740                                          5.8750                    0.1750
           17020741                                          6.2500                    0.1750
           17020742                                          5.6250                    0.1750
           17020580                                          5.8750                    0.1750
           17020743                                          6.0000                    0.1750
           17020581                                          5.8750                    0.1750
           17020744                                          6.2500                    0.1750
           17020582                                          6.0000                    0.1750
           17020745                                          4.7500                    0.1750
           17020583                                          5.8750                    0.1750
           17020746                                          6.6250                    0.1750
           17020584                                          5.8750                    0.1750
           17020747                                          6.3750                    0.1750
           17020585                                          5.6250                    0.1750
           17020748                                          5.3750                    0.1750
           17020586                                          6.0000                    0.1750
           17020749                                          5.7500                    0.1750
           17020587                                          5.1250                    0.1750
           17020588                                          5.7500                    0.1750
           17020589                                          5.0000                    0.1750
           17020750                                          6.2500                    0.1750
           17020751                                          5.8750                    0.1750
           17020590                                          6.1250                    0.1750
           17020752                                          6.0000                    0.1750
           17020591                                          5.7500                    0.1750
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           17203381                                          5.8750                    0.1750
           17203436                                          6.5000                    0.1750
           17203333                                          5.5000                    0.1750
           17203316                                          5.6250                    0.1750
           17203305                                          6.1250                    0.1750
           17203292                                          6.1250                    0.1750
           17203419                                          5.5000                    0.1750
           17203433                                          5.7500                    0.1750
           17203438                                          6.5000                    0.1750
           17203284                                          6.1250                    0.1750
           17203275                                          6.1250                    0.1750
           17203411                                          6.5000                    0.1750
           17203324                                          6.8750                    0.1750
           17203408                                          6.2500                    0.1750
           17203300                                          6.0000                    0.1750
           17203273                                          6.2500                    0.1750
           17203446                                          6.7500                    0.1750
           17203415                                          6.1250                    0.1750
           17203389                                          5.7500                    0.1750
           17203398                                          6.3750                    0.1750
           17203274                                          6.0000                    0.1750
           17203318                                          6.6250                    0.1750
           17203391                                          6.7500                    0.1750
           17203399                                          6.0000                    0.1750
           17203450                                          5.8750                    0.1750
           17203447                                          6.0000                    0.1750
           17203453                                          5.7500                    0.1750
           17203428                                          4.8750                    0.1750
           17203313                                          5.8750                    0.1750
           17203431                                          6.1250                    0.1750
           17203417                                          5.6250                    0.1750
           17203343                                          6.2500                    0.1750
           17203360                                          6.0000                    0.1750
           17203416                                          6.2500                    0.1750
           17203406                                          6.2500                    0.1750
           17203367                                          6.3750                    0.1750
           17203380                                          3.8750                    0.1750
           17203286                                          5.8750                    0.1750
           17203330                                          5.8750                    0.1750
           17203249                                          4.7500                    0.1750
           17203342                                          6.2500                    0.1750
           17203346                                          5.8750                    0.1750
           17203264                                          5.7500                    0.1750
           17203322                                          5.5000                    0.1750
           17203397                                          5.8750                    0.1750
           17203407                                          5.7500                    0.1750
           17203336                                          6.2500                    0.1750
           17203374                                          5.8750                    0.1750
           17203329                                          6.0000                    0.1750
           17203327                                          5.7500                    0.1750
           17203369                                          4.7500                    0.1750
           17203335                                          6.2500                    0.1750
           17203291                                          5.7500                    0.1750
           17203289                                          6.3750                    0.1750
           17203372                                          4.7500                    0.1750
           17203296                                          6.0000                    0.1750
           17203254                                          6.1250                    0.1750
           17203444                                          6.5000                    0.1750
           17203365                                          6.3750                    0.1750
           17203259                                          5.6250                    0.1750
           17203366                                          5.8750                    0.1750
           17203353                                          6.1250                    0.1750
           17203285                                          6.0000                    0.1750
           17203352                                          6.1250                    0.1750
           17203306                                          5.7500                    0.1750
           17203414                                          6.2500                    0.1750
           17203393                                          5.8750                    0.1750
           17203382                                          5.8750                    0.1750
           17203302                                          5.8750                    0.1750
           17203356                                          5.7500                    0.1750
           17203387                                          6.1250                    0.1750
           17203377                                          5.5000                    0.1750
           17203308                                          5.7500                    0.1750
           17203276                                          5.7500                    0.1750
           17203288                                          5.7500                    0.1750
           17203378                                          4.3750                    0.1750
           17203376                                          5.7500                    0.1750
           17203370                                          5.8750                    0.1750
           17203248                                          6.1250                    0.1750
           17203341                                          6.0000                    0.1750
           17203334                                          5.6250                    0.1750
           17203395                                          5.8750                    0.1750
           17203332                                          6.0000                    0.1750
           17203309                                          5.6250                    0.1750
           17203375                                          6.0000                    0.1750
           17203279                                          5.3750                    0.1750
           17203386                                          6.0000                    0.1750
           17203311                                          5.0000                    0.1750
           17203420                                          6.0000                    0.1750
           17203402                                          6.3750                    0.1750
           17203439                                          5.7500                    0.1750
           17203297                                          6.5000                    0.1750
           17203282                                          6.3750                    0.1750
           17203368                                          5.8750                    0.1750
           17203394                                          5.7500                    0.1750
           17203400                                          5.8750                    0.1750
           17203355                                          5.5000                    0.1750
           17203404                                          5.7500                    0.1750
           17203426                                          5.2500                    0.1750
           17203298                                          6.1250                    0.1750
           17203304                                          5.7500                    0.1750
           17203434                                          5.6250                    0.1750
           17171962                                          6.1250                    0.1750
           17171963                                          6.2500                    0.1750
           17171966                                          6.1250                    0.1750
           17171967                                          5.8750                    0.1750
           17171968                                          6.1250                    0.1750
           17171969                                          5.8750                    0.1750
           17171970                                          5.7500                    0.1750
           17171971                                          6.3750                    0.1750
           17171973                                          5.8750                    0.1750
           17171974                                          6.5000                    0.1750
           17171978                                          5.8750                    0.1750
           17171982                                          5.7500                    0.1750
           17171985                                          5.5000                    0.1750
           17171986                                          6.2500                    0.1750
           17171988                                          5.2500                    0.1750
           17171989                                          5.8750                    0.1750
           17171991                                          5.8750                    0.1750
           17171993                                          5.8750                    0.1750
           17171996                                          6.3750                    0.1750
           17171999                                          5.8750                    0.1750
           17171950                                          6.1250                    0.1750
           17171955                                          6.0000                    0.1750
           17171916                                          5.1250                    0.1750
           17171917                                          6.0000                    0.1750
           17171918                                          5.3750                    0.1750
           17171919                                          5.5000                    0.1750
           17171920                                          5.8750                    0.1750
           17171921                                          6.6250                    0.1750
           17171923                                          6.0000                    0.1750
           17171925                                          6.3750                    0.1750
           17171927                                          5.8750                    0.1750
           17171933                                          5.0000                    0.1750
           17171935                                          6.3750                    0.1750
           17171937                                          6.2500                    0.1750
           17171939                                          6.0000                    0.1750
           17171945                                          6.0000                    0.1750
           17171949                                          6.2500                    0.1750
           17175070                                          6.2500                    0.1750
           17175072                                          6.1250                    0.1750
           17175056                                          4.5000                    0.1750
           17175057                                          6.5000                    0.1750
           17175059                                          5.3750                    0.1750
           17175060                                          5.5000                    0.1750
           17175061                                          5.6250                    0.1750
           17175062                                          6.3750                    0.1750
           17175063                                          5.7500                    0.1750
           17175064                                          5.8750                    0.1750
           17175065                                          5.8750                    0.1750
           17175066                                          6.2500                    0.1750
           17175067                                          6.5000                    0.1750
           17175068                                          5.7500                    0.1750
           17175069                                          6.0000                    0.1750
           17175031                                          6.3750                    0.1750
           17175032                                          5.5000                    0.1750
           17175034                                          5.5000                    0.1750
           17175035                                          5.8750                    0.1750
           17175036                                          5.8750                    0.1750
           17175037                                          6.2500                    0.1750
           17175040                                          6.2500                    0.1750
           17175041                                          5.8750                    0.1750
           17175042                                          6.1250                    0.1750
           17175043                                          6.3750                    0.1750
           17175045                                          6.2500                    0.1750
           17175046                                          6.1250                    0.1750
           17175047                                          6.2500                    0.1750
           17175050                                          6.2500                    0.1750
           17175051                                          4.7500                    0.1750
           17175052                                          6.0000                    0.1750
           17175053                                          6.0000                    0.1750
           17175024                                          6.5000                    0.1750
           17175025                                          5.5000                    0.1750
           17175026                                          5.8750                    0.1750
           17175027                                          6.2500                    0.1750
           17175028                                          5.6250                    0.1750
           17175029                                          5.0000                    0.1750
           17172120                                          6.3750                    0.1750
           17172121                                          6.0000                    0.1750
           17172122                                          5.6250                    0.1750
           17172123                                          6.6250                    0.1750
           17172124                                          6.2500                    0.1750
           17172128                                          6.2500                    0.1750
           17172129                                          6.6250                    0.1750
           17172131                                          5.7500                    0.1750
           17172134                                          5.8750                    0.1750
           17172135                                          8.1250                    0.1750
           17172137                                          5.7500                    0.1750
           17172138                                          6.0000                    0.1750
           17172139                                          6.8750                    0.1750
           17172100                                          5.7500                    0.1750
           17172101                                          5.7500                    0.1750
           17172102                                          5.2500                    0.1750
           17172103                                          5.6250                    0.1750
           17172105                                          6.2500                    0.1750
           17172106                                          6.5000                    0.1750
           17172107                                          5.7500                    0.1750
           17172108                                          6.0000                    0.1750
           17172109                                          5.7500                    0.1750
           17172110                                          6.1250                    0.1750
           17172111                                          5.5000                    0.1750
           17172113                                          5.5000                    0.1750
           17172115                                          6.0000                    0.1750
           17172116                                          5.7500                    0.1750
           17172117                                          5.7500                    0.1750
           17172119                                          6.2500                    0.1750
           17181161                                          6.5000                    0.1750
           17172090                                          6.0000                    0.1750
           17181162                                          6.3750                    0.1750
           17172091                                          6.1250                    0.1750
           17172092                                          5.8750                    0.1750
           17172093                                          6.2500                    0.1750
           17172094                                          5.8750                    0.1750
           17172095                                          5.3750                    0.1750
           17172097                                          4.7500                    0.1750
           17172098                                          6.5000                    0.1750
           17172099                                          4.7500                    0.1750
           17181150                                          5.8750                    0.1750
           17181151                                          5.7500                    0.1750
           17172080                                          5.5000                    0.1750
           17181152                                          6.3750                    0.1750
           17172081                                          5.6250                    0.1750
           17181153                                          5.6250                    0.1750
           17172082                                          5.8750                    0.1750
           17181154                                          5.7500                    0.1750
           17172083                                          6.1250                    0.1750
           17172085                                          5.7500                    0.1750
           17181158                                          5.6250                    0.1750
           17172087                                          6.2500                    0.1750
           17181159                                          6.5000                    0.1750
           17172088                                          6.3750                    0.1750
           17172089                                          6.2500                    0.1750
           17172060                                          6.2500                    0.1750
           17181132                                          6.0000                    0.1750
           17181133                                          5.6250                    0.1750
           17172062                                          6.6250                    0.1750
           17181134                                          5.6250                    0.1750
           17172063                                          4.8750                    0.1750
           17181135                                          5.7500                    0.1750
           17181136                                          6.3750                    0.1750
           17172066                                          6.1250                    0.1750
           17181138                                          6.3750                    0.1750
           17172067                                          5.8750                    0.1750
           17172069                                          5.8750                    0.1750
           17181140                                          6.1250                    0.1750
           17172070                                          5.8750                    0.1750
           17172071                                          5.8750                    0.1750
           17181143                                          6.1250                    0.1750
           17172072                                          5.6250                    0.1750
           17181145                                          5.5000                    0.1750
           17181146                                          5.7500                    0.1750
           17172075                                          6.0000                    0.1750
           17181147                                          5.5000                    0.1750
           17172076                                          6.2500                    0.1750
           17181148                                          5.8750                    0.1750
           17172077                                          5.7500                    0.1750
           17172079                                          5.3750                    0.1750
           17181130                                          6.6250                    0.1750
           17181131                                          5.8750                    0.1750
           17181121                                          6.0000                    0.1750
           17172050                                          6.1250                    0.1750
           17181122                                          6.3750                    0.1750
           17181123                                          5.8750                    0.1750
           17172052                                          5.7500                    0.1750
           17181124                                          5.6250                    0.1750
           17181125                                          4.8750                    0.1750
           17172054                                          5.8750                    0.1750
           17181126                                          6.3750                    0.1750
           17172056                                          5.7500                    0.1750
           17172059                                          6.0000                    0.1750
           17172047                                          5.8750                    0.1750
           17181119                                          6.1250                    0.1750
           17172021                                          6.0000                    0.1750
           17172024                                          5.8750                    0.1750
           17172025                                          5.8750                    0.1750
           17172026                                          5.2500                    0.1750
           17172027                                          5.8750                    0.1750
           17172028                                          6.3750                    0.1750
           17172029                                          6.3750                    0.1750
           17181100                                          5.8750                    0.1750
           17181101                                          6.6250                    0.1750
           17172030                                          6.1250                    0.1750
           17181102                                          5.8750                    0.1750
           17172031                                          5.7500                    0.1750
           17172032                                          5.6250                    0.1750
           17181104                                          6.0000                    0.1750
           17181105                                          6.1250                    0.1750
           17172034                                          6.6250                    0.1750
           17181106                                          5.5000                    0.1750
           17172035                                          6.1250                    0.1750
           17181107                                          6.2500                    0.1750
           17181108                                          5.8750                    0.1750
           17172037                                          5.8750                    0.1750
           17181109                                          6.1250                    0.1750
           17172038                                          6.2500                    0.1750
           17181110                                          6.2500                    0.1750
           17181111                                          5.5000                    0.1750
           17172040                                          5.6250                    0.1750
           17181112                                          7.2500                    0.1750
           17181113                                          5.0000                    0.1750
           17172042                                          5.5000                    0.1750
           17181114                                          5.7500                    0.1750
           17172043                                          6.1250                    0.1750
           17181115                                          5.8750                    0.1750
           17181116                                          6.0000                    0.1750
           17172045                                          6.5000                    0.1750
           17172046                                          4.7500                    0.1750
           17172017                                          6.0000                    0.1750
           17172018                                          5.7500                    0.1750
           17172019                                          6.2500                    0.1750
           17172000                                          6.8750                    0.1750
           17172006                                          5.8750                    0.1750
           17172007                                          5.6250                    0.1750
           17172009                                          5.6250                    0.1750
           17172011                                          5.8750                    0.1750
           17172013                                          6.6250                    0.1750
           17172015                                          5.8750                    0.1750
           17172016                                          5.6250                    0.1750
           17181088                                          5.8750                    0.1750
           17181090                                          5.8750                    0.1750
           17181092                                          6.1250                    0.1750
           17181093                                          6.5000                    0.1750
           17181094                                          6.7500                    0.1750
           17181095                                          5.8750                    0.1750
           17181096                                          5.5000                    0.1750
           17181097                                          6.1250                    0.1750
           17181099                                          5.3750                    0.1750
           17181082                                          5.8750                    0.1750
           17181083                                          5.8750                    0.1750
           17181084                                          6.6250                    0.1750
           17181085                                          6.1250                    0.1750
           17172140                                          6.2500                    0.1750
           17172141                                          6.5000                    0.1750
           17172142                                          5.8750                    0.1750
           17175038                                          6.2500                    0.1750
           17175039                                          6.3750                    0.1750
           17175044                                          4.7500                    0.1750
           17175073                                          6.2500                    0.1750
           17181098                                          6.3750                    0.1750
           17181103                                          5.8750                    0.1750
           17181118                                          6.0000                    0.1750
           17181128                                          5.8750                    0.1750
           17181129                                          5.8750                    0.1750
           17181137                                          5.8750                    0.1750
           17181139                                          5.0000                    0.1750
           17181144                                          5.8750                    0.1750
           17181149                                          6.2500                    0.1750
           17181155                                          6.5000                    0.1750
           17181156                                          6.2500                    0.1750
           17181157                                          5.5000                    0.1750
           17181160                                          6.0000                    0.1750
           17171928                                          6.1250                    0.1750
           17171929                                          6.1250                    0.1750
           17171930                                          5.6250                    0.1750
           17171931                                          5.0000                    0.1750
           17171932                                          6.6250                    0.1750
           17171934                                          6.5000                    0.1750
           17171936                                          6.2500                    0.1750
           17171938                                          6.1250                    0.1750
           17171940                                          6.2500                    0.1750
           17171941                                          6.6250                    0.1750
           17171942                                          5.7500                    0.1750
           17171943                                          5.0000                    0.1750
           17171944                                          5.6250                    0.1750
           17171947                                          5.6250                    0.1750
           17171948                                          6.0000                    0.1750
           17171953                                          4.8750                    0.1750
           17171954                                          6.2500                    0.1750
           17171956                                          6.2500                    0.1750
           17171958                                          6.0000                    0.1750
           17171959                                          6.1250                    0.1750
           17171961                                          5.8750                    0.1750
           17171964                                          6.2500                    0.1750
           17171975                                          6.2500                    0.1750
           17171976                                          6.5000                    0.1750
           17171977                                          6.3750                    0.1750
           17171981                                          6.5000                    0.1750
           17171984                                          5.1250                    0.1750
           17171994                                          6.6250                    0.1750
           17171997                                          6.0000                    0.1750
           17172003                                          4.7500                    0.1750
           17172058                                          4.3750                    0.1750
           17175030                                          5.5000                    0.1750
           17175033                                          5.8750                    0.1750
           17175055                                          6.5000                    0.1750
           17181087                                          6.7500                    0.1750
           17181089                                          6.1250                    0.1750
           17181091                                          5.8750                    0.1750
           17181127                                          6.2500                    0.1750
           17172118                                          5.6250                    0.1750
           17181142                                          5.6250                    0.1750

           LOAN_SEQ                MSERV                LPMI
           17020574                0.0000              0.0000
           17020737                0.0000              0.0000
           17020575                0.0000              0.0000
           17020498                0.0000              0.0000
           17020499                0.0000              0.0000
           17020820                0.0000              0.0000
           17020821                0.0000              0.0000
           17020660                0.0000              0.0000
           17020822                0.0000              0.0000
           17020661                0.0000              0.0000
           17020823                0.0000              0.0000
           17020662                0.0000              0.0000
           17020824                0.0000              0.0000
           17020663                0.0000              0.0000
           17020825                0.0000              0.0000
           17020664                0.0000              0.0000
           17020826                0.0000              0.0000
           17020665                0.0000              0.0000
           17020827                0.0000              0.0000
           17020828                0.0000              0.0000
           17020667                0.0000              0.0000
           17020829                0.0000              0.0000
           17020668                0.0000              0.0000
           17020669                0.0000              0.0000
           17020830                0.0000              0.0000
           17020831                0.0000              0.0000
           17020670                0.0000              0.0000
           17020832                0.0000              0.0000
           17020833                0.0000              0.0000
           17020671                0.0000              0.0000
           17020834                0.0000              0.0000
           17020672                0.0000              0.0000
           17020835                0.0000              0.0000
           17020673                0.0000              0.0000
           17020836                0.0000              0.3900
           17020674                0.0000              0.0000
           17020837                0.0000              0.0000
           17020675                0.0000              0.0000
           17020838                0.0000              0.0000
           17020676                0.0000              0.0000
           17020839                0.0000              0.0000
           17020677                0.0000              0.0000
           17020678                0.0000              0.0000
           17020679                0.0000              0.0000
           17020840                0.0000              0.0000
           17020841                0.0000              0.0000
           17020842                0.0000              0.0000
           17020680                0.0000              0.0000
           17020843                0.0000              0.0000
           17020681                0.0000              0.0000
           17020844                0.0000              0.0000
           17020682                0.0000              0.0000
           17020845                0.0000              0.0000
           17020683                0.0000              0.0000
           17020846                0.0000              0.0000
           17020684                0.0000              0.0000
           17020685                0.0000              0.0000
           17020848                0.0000              0.0000
           17020686                0.0000              0.0000
           17020849                0.0000              0.0000
           17020687                0.0000              0.0000
           17020688                0.0000              0.0000
           17020689                0.0000              0.0000
           17020850                0.0000              0.0000
           17020657                0.0000              0.0000
           17020495                0.0000              0.0000
           17020819                0.0000              0.0000
           17020658                0.0000              0.0000
           17020496                0.0000              0.0000
           17020659                0.0000              0.0000
           17020497                0.0000              0.0000
           17020492                0.0000              0.0000
           17020816                0.0000              0.0000
           17020655                0.0000              0.0000
           17020493                0.0000              0.0000
           17020817                0.0000              0.0000
           17020656                0.0000              0.0000
           17020494                0.0000              0.0000
           17020812                0.0000              0.0000
           17020651                0.0000              0.0000
           17020813                0.0000              0.0000
           17020814                0.0000              0.0000
           17020652                0.0000              0.0000
           17020490                0.0000              0.0000
           17020491                0.0000              0.0000
           17020815                0.0000              0.0000
           17020654                0.0000              0.0000
           17020500                0.0000              0.0000
           17020501                0.0000              0.0000
           17020502                0.0000              0.0000
           17020503                0.0000              0.0000
           17020504                0.0000              0.0000
           17020505                0.0000              0.0000
           17020506                0.0000              0.0000
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           17181116                0.0000              0.0000
           17172045                0.0000              0.0000
           17172046                0.0000              0.0000
           17172017                0.0000              0.0000
           17172018                0.0000              0.0000
           17172019                0.0000              0.0000
           17172000                0.0000              0.0000
           17172006                0.0000              0.0000
           17172007                0.0000              0.0000
           17172009                0.0000              0.0000
           17172011                0.0000              0.0000
           17172013                0.0000              0.0000
           17172015                0.0000              0.0000
           17172016                0.0000              0.0000
           17181088                0.0000              0.0000
           17181090                0.0000              0.0000
           17181092                0.0000              0.0000
           17181093                0.0000              0.0000
           17181094                0.0000              0.0000
           17181095                0.0000              0.0000
           17181096                0.0000              0.0000
           17181097                0.0000              0.0000
           17181099                0.0000              0.0000
           17181082                0.0000              0.0000
           17181083                0.0000              0.0000
           17181084                0.0000              0.0000
           17181085                0.0000              0.0000
           17172140                0.0000              0.0000
           17172141                0.0000              0.0000
           17172142                0.0000              0.0000
           17175038                0.0000              0.0000
           17175039                0.0000              0.0000
           17175044                0.0000              0.0000
           17175073                0.0000              0.0000
           17181098                0.0000              0.0000
           17181103                0.0000              0.0000
           17181118                0.0000              0.0000
           17181128                0.0000              0.0000
           17181129                0.0000              0.0000
           17181137                0.0000              0.0000
           17181139                0.0000              0.0000
           17181144                0.0000              0.0000
           17181149                0.0000              0.0000
           17181155                0.0000              0.0000
           17181156                0.0000              0.0000
           17181157                0.0000              0.0000
           17181160                0.0000              0.0000
           17171928                0.0000              0.0000
           17171929                0.0000              0.0000
           17171930                0.0000              0.0000
           17171931                0.0000              0.0000
           17171932                0.0000              0.0000
           17171934                0.0000              0.0000
           17171936                0.0000              0.0000
           17171938                0.0000              0.0000
           17171940                0.0000              0.0000
           17171941                0.0000              0.0000
           17171942                0.0000              0.0000
           17171943                0.0000              0.0000
           17171944                0.0000              0.0000
           17171947                0.0000              0.0000
           17171948                0.0000              0.0000
           17171953                0.0000              0.0000
           17171954                0.0000              0.0000
           17171956                0.0000              0.0000
           17171958                0.0000              0.0000
           17171959                0.0000              0.0000
           17171961                0.0000              0.0000
           17171964                0.0000              0.0000
           17171975                0.0000              0.0000
           17171976                0.0000              0.0000
           17171977                0.0000              0.0000
           17171981                0.0000              0.0000
           17171984                0.0000              0.0000
           17171994                0.0000              0.0000
           17171997                0.0000              0.0000
           17172003                0.0000              0.0000
           17172058                0.0000              0.0000
           17175030                0.0000              0.0000
           17175033                0.0000              0.0000
           17175055                0.0000              0.0000
           17181087                0.0000              0.0000
           17181089                0.0000              0.0000
           17181091                0.0000              0.0000
           17181127                0.0000              0.0000
           17172118                0.0000              0.0000
           17181142                0.0000              0.0000

           LOAN_SEQ                        TRUSTEE_FEE                           CURRENT_NET_COUPON
           17020574                         0.0085                                      6.1915
           17020737                         0.0085                                      5.1915
           17020575                         0.0085                                      5.5665
           17020498                         0.0085                                      6.0665
           17020499                         0.0085                                      5.5665
           17020820                         0.0085                                      5.4415
           17020821                         0.0085                                      5.6915
           17020660                         0.0085                                      6.4415
           17020822                         0.0085                                      5.5665
           17020661                         0.0085                                      5.5665
           17020823                         0.0085                                      5.8165
           17020662                         0.0085                                      5.9415
           17020824                         0.0085                                      5.6915
           17020663                         0.0085                                      6.0665
           17020825                         0.0085                                      5.5665
           17020664                         0.0085                                      6.1915
           17020826                         0.0085                                      5.6915
           17020665                         0.0085                                      5.5665
           17020827                         0.0085                                      5.8165
           17020828                         0.0085                                      5.6915
           17020667                         0.0085                                      5.8165
           17020829                         0.0085                                      5.1915
           17020668                         0.0085                                      6.1915
           17020669                         0.0085                                      5.6915
           17020830                         0.0085                                      5.5665
           17020831                         0.0085                                      5.6915
           17020670                         0.0085                                      5.6915
           17020832                         0.0085                                      6.0665
           17020833                         0.0085                                      5.6915
           17020671                         0.0085                                      5.8165
           17020834                         0.0085                                      5.6915
           17020672                         0.0085                                      6.1915
           17020835                         0.0085                                      6.0665
           17020673                         0.0085                                      5.0665
           17020836                         0.0085                                      5.4265
           17020674                         0.0085                                      5.6915
           17020837                         0.0085                                      5.9415
           17020675                         0.0085                                      5.6915
           17020838                         0.0085                                      5.3165
           17020676                         0.0085                                      5.8165
           17020839                         0.0085                                      5.1915
           17020677                         0.0085                                      6.4415
           17020678                         0.0085                                      6.4415
           17020679                         0.0085                                      6.1915
           17020840                         0.0085                                      5.6915
           17020841                         0.0085                                      5.6915
           17020842                         0.0085                                      5.5665
           17020680                         0.0085                                      6.6915
           17020843                         0.0085                                      5.6915
           17020681                         0.0085                                      6.0665
           17020844                         0.0085                                      5.8165
           17020682                         0.0085                                      5.8165
           17020845                         0.0085                                      5.8165
           17020683                         0.0085                                      5.4415
           17020846                         0.0085                                      5.1915
           17020684                         0.0085                                      5.6915
           17020685                         0.0085                                      5.6915
           17020848                         0.0085                                      6.1915
           17020686                         0.0085                                      6.0665
           17020849                         0.0085                                      6.0665
           17020687                         0.0085                                      6.0665
           17020688                         0.0085                                      6.3165
           17020689                         0.0085                                      5.8165
           17020850                         0.0085                                      5.6915
           17020657                         0.0085                                      5.6915
           17020495                         0.0085                                      5.8165
           17020819                         0.0085                                      5.9415
           17020658                         0.0085                                      6.1915
           17020496                         0.0085                                      5.8165
           17020659                         0.0085                                      5.8165
           17020497                         0.0085                                      5.8165
           17020492                         0.0085                                      5.5665
           17020816                         0.0085                                      5.6915
           17020655                         0.0085                                      5.9415
           17020493                         0.0085                                      6.0665
           17020817                         0.0085                                      5.0665
           17020656                         0.0085                                      6.0665
           17020494                         0.0085                                      5.9415
           17020812                         0.0085                                      6.1915
           17020651                         0.0085                                      6.3165
           17020813                         0.0085                                      5.9415
           17020814                         0.0085                                      5.6915
           17020652                         0.0085                                      6.0665
           17020490                         0.0085                                      5.3165
           17020491                         0.0085                                      5.4415
           17020815                         0.0085                                      5.5665
           17020654                         0.0085                                      6.1915
           17020500                         0.0085                                      5.9415
           17020501                         0.0085                                      6.4415
           17020502                         0.0085                                      5.5665
           17020503                         0.0085                                      5.3165
           17020504                         0.0085                                      5.9415
           17020505                         0.0085                                      6.0665
           17020506                         0.0085                                      5.6915
           17020507                         0.0085                                      5.9415
           17020508                         0.0085                                      5.6915
           17020509                         0.0085                                      6.0665
           17020510                         0.0085                                      5.4415
           17020511                         0.0085                                      5.9415
           17020512                         0.0085                                      5.9415
           17020513                         0.0085                                      5.5665
           17020514                         0.0085                                      4.8165
           17020515                         0.0085                                      6.0665
           17020516                         0.0085                                      5.8165
           17020517                         0.0085                                      5.9415
           17020518                         0.0085                                      5.8165
           17020519                         0.0085                                      5.1915
           17020520                         0.0085                                      5.5665
           17020521                         0.0085                                      5.6915
           17020522                         0.0085                                      5.6915
           17020523                         0.0085                                      5.9415
           17020524                         0.0085                                      6.0665
           17020525                         0.0085                                      6.0665
           17020526                         0.0085                                      5.4415
           17020527                         0.0085                                      5.5665
           17020528                         0.0085                                      4.8165
           17020529                         0.0085                                      5.1915
           17020530                         0.0085                                      6.0665
           17020531                         0.0085                                      5.6915
           17020532                         0.0085                                      5.5665
           17020533                         0.0085                                      5.6915
           17020534                         0.0085                                      6.0665
           17020535                         0.0085                                      5.5665
           17020536                         0.0085                                      6.0665
           17020537                         0.0085                                      5.6915
           17020538                         0.0085                                      5.0665
           17020539                         0.0085                                      5.9415
           17020700                         0.0085                                      5.6915
           17020701                         0.0085                                      5.0665
           17020702                         0.0085                                      5.9415
           17020540                         0.0085                                      5.6915
           17020703                         0.0085                                      6.1915
           17020541                         0.0085                                      5.6915
           17020704                         0.0085                                      6.3165
           17020542                         0.0085                                      5.5665
           17020705                         0.0085                                      5.6915
           17020543                         0.0085                                      6.1915
           17020706                         0.0085                                      5.6915
           17020544                         0.0085                                      5.6915
           17020707                         0.0085                                      6.4415
           17020545                         0.0085                                      5.8165
           17020708                         0.0085                                      5.8165
           17020546                         0.0085                                      5.6915
           17020547                         0.0085                                      5.0665
           17020385                         0.0085                                      5.9415
           17020548                         0.0085                                      5.4415
           17020386                         0.0085                                      5.0665
           17020549                         0.0085                                      6.1915
           17020387                         0.0085                                      5.8165
           17020388                         0.0085                                      5.1915
           17020389                         0.0085                                      4.5665
           17020710                         0.0085                                      5.6765
           17020711                         0.0085                                      5.5665
           17020550                         0.0085                                      5.6915
           17020712                         0.0085                                      5.3165
           17020551                         0.0085                                      5.6915
           17020713                         0.0085                                      5.8165
           17020714                         0.0085                                      5.5665
           17020552                         0.0085                                      4.9415
           17020715                         0.0085                                      4.8165
           17020553                         0.0085                                      5.4415
           17020391                         0.0085                                      5.3165
           17020392                         0.0085                                      5.6915
           17020554                         0.0085                                      5.6915
           17020716                         0.0085                                      6.3165
           17020717                         0.0085                                      5.4415
           17020555                         0.0085                                      5.9415
           17020393                         0.0085                                      5.4415
           17020718                         0.0085                                      4.6915
           17020556                         0.0085                                      6.0665
           17020394                         0.0085                                      6.3165
           17020395                         0.0085                                      6.1915
           17020557                         0.0085                                      6.0665
           17020719                         0.0085                                      5.9415
           17020558                         0.0085                                      5.5665
           17020397                         0.0085                                      6.1915
           17020559                         0.0085                                      5.5665
           17020398                         0.0085                                      5.6915
           17020399                         0.0085                                      5.6915
           17020720                         0.0085                                      6.1915
           17020721                         0.0085                                      5.8165
           17020722                         0.0085                                      5.5665
           17020560                         0.0085                                      6.1915
           17020723                         0.0085                                      6.0665
           17020561                         0.0085                                      5.5665
           17020724                         0.0085                                      5.6915
           17020562                         0.0085                                      5.0665
           17020725                         0.0085                                      6.0665
           17020563                         0.0085                                      5.5665
           17020726                         0.0085                                      5.6915
           17020564                         0.0085                                      5.6915
           17020727                         0.0085                                      5.6915
           17020565                         0.0085                                      6.0665
           17020728                         0.0085                                      6.3165
           17020566                         0.0085                                      6.1915
           17020729                         0.0085                                      4.9415
           17020567                         0.0085                                      5.6915
           17020568                         0.0085                                      5.4415
           17020569                         0.0085                                      5.4415
           17020730                         0.0085                                      6.5665
           17020731                         0.0085                                      4.5665
           17020732                         0.0085                                      5.9415
           17020570                         0.0085                                      6.1915
           17020733                         0.0085                                      5.8165
           17020571                         0.0085                                      6.0665
           17020734                         0.0085                                      5.9415
           17020572                         0.0085                                      6.4415
           17020735                         0.0085                                      5.9415
           17020573                         0.0085                                      5.8165
           17020736                         0.0085                                      5.9415
           17020487                         0.0085                                      5.6915
           17020488                         0.0085                                      5.6915
           17020489                         0.0085                                      5.5665
           17020810                         0.0085                                      6.0665
           17020811                         0.0085                                      6.0665
           17020650                         0.0085                                      5.3165
           17020791                         0.0085                                      5.5665
           17020792                         0.0085                                      5.8165
           17020793                         0.0085                                      5.8165
           17020794                         0.0085                                      5.4415
           17020795                         0.0085                                      5.0665
           17020796                         0.0085                                      5.9415
           17020797                         0.0085                                      5.5665
           17020798                         0.0085                                      5.8165
           17020799                         0.0085                                      5.5665
           17020790                         0.0085                                      6.0665
           17020646                         0.0085                                      5.9415
           17020484                         0.0085                                      5.8165
           17020808                         0.0085                                      5.8165
           17020647                         0.0085                                      5.6915
           17020485                         0.0085                                      5.6915
           17020809                         0.0085                                      5.3165
           17020648                         0.0085                                      5.8165
           17020486                         0.0085                                      5.4415
           17020649                         0.0085                                      5.6915
           17020781                         0.0085                                      6.1915
           17020782                         0.0085                                      5.5665
           17020783                         0.0085                                      6.0665
           17020784                         0.0085                                      5.5665
           17020785                         0.0085                                      5.1915
           17020786                         0.0085                                      5.6915
           17020787                         0.0085                                      5.6915
           17020788                         0.0085                                      5.9415
           17020789                         0.0085                                      5.5665
           17020612                         0.0085                                      6.0665
           17020450                         0.0085                                      5.0665
           17020613                         0.0085                                      6.3165
           17020451                         0.0085                                      5.6915
           17020614                         0.0085                                      5.9415
           17020452                         0.0085                                      5.4415
           17020615                         0.0085                                      5.9415
           17020453                         0.0085                                      6.1915
           17020616                         0.0085                                      5.5665
           17020454                         0.0085                                      5.6915
           17020617                         0.0085                                      4.9415
           17020455                         0.0085                                      5.9415
           17020456                         0.0085                                      5.6915
           17020618                         0.0085                                      6.2015
           17020619                         0.0085                                      4.5665
           17020457                         0.0085                                      6.3165
           17020458                         0.0085                                      5.8165
           17020459                         0.0085                                      5.4415
           17020620                         0.0085                                      5.9415
           17020621                         0.0085                                      5.4415
           17020622                         0.0085                                      5.9415
           17020460                         0.0085                                      5.6915
           17020623                         0.0085                                      5.6915
           17020461                         0.0085                                      4.8165
           17020624                         0.0085                                      6.1915
           17020462                         0.0085                                      5.8165
           17020625                         0.0085                                      5.6915
           17020463                         0.0085                                      5.9415
           17020626                         0.0085                                      5.6915
           17020464                         0.0085                                      5.6915
           17020627                         0.0085                                      5.6915
           17020465                         0.0085                                      5.8165
           17020628                         0.0085                                      5.9415
           17020466                         0.0085                                      5.4415
           17020629                         0.0085                                      5.5665
           17020467                         0.0085                                      5.5665
           17020468                         0.0085                                      6.1915
           17020469                         0.0085                                      5.9415
           17020630                         0.0085                                      4.8165
           17020631                         0.0085                                      5.8165
           17020632                         0.0085                                      5.3165
           17020470                         0.0085                                      5.4415
           17020633                         0.0085                                      5.9415
           17020471                         0.0085                                      6.3165
           17020634                         0.0085                                      6.0665
           17020472                         0.0085                                      6.1915
           17020635                         0.0085                                      5.5665
           17020473                         0.0085                                      5.9415
           17020636                         0.0085                                      5.4415
           17020474                         0.0085                                      5.5665
           17020637                         0.0085                                      5.0665
           17020475                         0.0085                                      5.4415
           17020638                         0.0085                                      5.6915
           17020476                         0.0085                                      5.6915
           17020477                         0.0085                                      5.9415
           17020478                         0.0085                                      5.5665
           17020479                         0.0085                                      6.0665
           17020800                         0.0085                                      5.3165
           17020801                         0.0085                                      6.3165
           17020640                         0.0085                                      5.9415
           17020802                         0.0085                                      6.3165
           17020641                         0.0085                                      6.0665
           17020803                         0.0085                                      5.8165
           17020642                         0.0085                                      5.5665
           17020480                         0.0085                                      5.8165
           17020804                         0.0085                                      5.9415
           17020643                         0.0085                                      5.4415
           17020481                         0.0085                                      5.5665
           17020805                         0.0085                                      5.5665
           17020644                         0.0085                                      4.6915
           17020482                         0.0085                                      6.0665
           17020806                         0.0085                                      5.6915
           17020645                         0.0085                                      5.9415
           17020483                         0.0085                                      6.1915
           17020807                         0.0085                                      5.1915
           17020436                         0.0085                                      5.6915
           17020437                         0.0085                                      5.4415
           17020438                         0.0085                                      5.6915
           17020439                         0.0085                                      5.1915
           17020600                         0.0085                                      5.8165
           17020601                         0.0085                                      6.0665
           17020602                         0.0085                                      5.3165
           17020440                         0.0085                                      6.0765
           17020603                         0.0085                                      5.0665
           17020441                         0.0085                                      6.0665
           17020604                         0.0085                                      5.5665
           17020442                         0.0085                                      5.6915
           17020605                         0.0085                                      6.1915
           17020606                         0.0085                                      5.5665
           17020444                         0.0085                                      4.8165
           17020607                         0.0085                                      5.9415
           17020445                         0.0085                                      5.8165
           17020608                         0.0085                                      5.9415
           17020446                         0.0085                                      5.3165
           17020609                         0.0085                                      5.5665
           17020447                         0.0085                                      5.4415
           17020448                         0.0085                                      4.8165
           17020449                         0.0085                                      5.3165
           17020610                         0.0085                                      5.4415
           17020611                         0.0085                                      4.8165
           17020771                         0.0085                                      5.9415
           17020772                         0.0085                                      5.3165
           17020773                         0.0085                                      5.6915
           17020774                         0.0085                                      5.8165
           17020775                         0.0085                                      5.5665
           17020777                         0.0085                                      5.9415
           17020778                         0.0085                                      5.9415
           17020779                         0.0085                                      6.1915
           17020780                         0.0085                                      5.4415
           17020400                         0.0085                                      5.9415
           17020401                         0.0085                                      5.9415
           17020402                         0.0085                                      4.5665
           17020403                         0.0085                                      5.4415
           17020404                         0.0085                                      5.1915
           17020405                         0.0085                                      6.3165
           17020406                         0.0085                                      5.8165
           17020407                         0.0085                                      6.0665
           17020408                         0.0085                                      5.8165
           17020409                         0.0085                                      5.9415
           17020410                         0.0085                                      5.6915
           17020411                         0.0085                                      5.3165
           17020412                         0.0085                                      6.0665
           17020413                         0.0085                                      5.9415
           17020415                         0.0085                                      5.5665
           17020416                         0.0085                                      5.6915
           17020417                         0.0085                                      5.6915
           17020418                         0.0085                                      5.9415
           17020419                         0.0085                                      5.8165
           17020420                         0.0085                                      5.6915
           17020421                         0.0085                                      6.3165
           17020422                         0.0085                                      4.9415
           17020423                         0.0085                                      5.8165
           17020424                         0.0085                                      6.3165
           17020425                         0.0085                                      6.1915
           17020427                         0.0085                                      6.1915
           17020428                         0.0085                                      6.3165
           17020429                         0.0085                                      5.9415
           17020430                         0.0085                                      6.0665
           17020431                         0.0085                                      6.0665
           17020432                         0.0085                                      6.1915
           17020433                         0.0085                                      5.8165
           17020434                         0.0085                                      6.0665
           17020761                         0.0085                                      5.6915
           17020762                         0.0085                                      5.3165
           17020763                         0.0085                                      5.6915
           17020764                         0.0085                                      5.1915
           17020765                         0.0085                                      6.3165
           17020766                         0.0085                                      5.6915
           17020767                         0.0085                                      6.0665
           17020768                         0.0085                                      6.3165
           17020769                         0.0085                                      5.8165
           17020770                         0.0085                                      5.1915
           17020851                         0.0085                                      4.8165
           17020852                         0.0085                                      5.3165
           17020690                         0.0085                                      6.0665
           17020853                         0.0085                                      5.8165
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           17203449                         0.0085                                      5.5665
           17203328                         0.0085                                      5.9415
           17203339                         0.0085                                      5.6915
           17203315                         0.0085                                      5.6915
           17203257                         0.0085                                      5.4415
           17203295                         0.0085                                      5.9415
           17203290                         0.0085                                      4.8165
           17203299                         0.0085                                      5.6915
           17203424                         0.0085                                      4.5665
           17203379                         0.0085                                      5.3165
           17203256                         0.0085                                      6.3165
           17203422                         0.0085                                      5.9365
           17203253                         0.0085                                      5.1915
           17203312                         0.0085                                      6.3165
           17203293                         0.0085                                      5.5665
           17203418                         0.0085                                      5.3165
           17203314                         0.0085                                      5.4415
           17203448                         0.0085                                      5.6915
           17203384                         0.0085                                      6.1915
           17203281                         0.0085                                      5.8165
           17203348                         0.0085                                      5.3165
           17203390                         0.0085                                      5.6915
           17203310                         0.0085                                      5.5665
           17203363                         0.0085                                      6.6915
           17203425                         0.0085                                      5.0665
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           17203247                         0.0085                                      6.0665
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           17203362                         0.0085                                      5.6915
           17203361                         0.0085                                      6.0665
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           17203349                         0.0085                                      5.5665
           17203338                         0.0085                                      6.4415
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           17203307                         0.0085                                      5.8165
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           17203442                         0.0085                                      5.9415
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           17203280                         0.0085                                      5.5665
           17203344                         0.0085                                      5.6915
           17203381                         0.0085                                      5.6915
           17203436                         0.0085                                      6.3165
           17203333                         0.0085                                      5.3165
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           17203305                         0.0085                                      5.9415
           17203292                         0.0085                                      5.9415
           17203419                         0.0085                                      5.3165
           17203433                         0.0085                                      5.5665
           17203438                         0.0085                                      6.3165
           17203284                         0.0085                                      5.9415
           17203275                         0.0085                                      5.9415
           17203411                         0.0085                                      6.3165
           17203324                         0.0085                                      6.6915
           17203408                         0.0085                                      6.0665
           17203300                         0.0085                                      5.8165
           17203273                         0.0085                                      6.0665
           17203446                         0.0085                                      6.5665
           17203415                         0.0085                                      5.9415
           17203389                         0.0085                                      5.5665
           17203398                         0.0085                                      6.1915
           17203274                         0.0085                                      5.8165
           17203318                         0.0085                                      5.9415
           17203391                         0.0085                                      6.5665
           17203399                         0.0085                                      5.8165
           17203450                         0.0085                                      5.6915
           17203447                         0.0085                                      5.8165
           17203453                         0.0085                                      5.5665
           17203428                         0.0085                                      4.6915
           17203313                         0.0085                                      5.6915
           17203431                         0.0085                                      5.9415
           17203417                         0.0085                                      5.4415
           17203343                         0.0085                                      6.0665
           17203360                         0.0085                                      5.8165
           17203416                         0.0085                                      6.0665
           17203406                         0.0085                                      6.0665
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           17203380                         0.0085                                      3.6915
           17203286                         0.0085                                      5.6915
           17203330                         0.0085                                      5.6915
           17203249                         0.0085                                      4.5665
           17203342                         0.0085                                      6.0665
           17203346                         0.0085                                      5.6915
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           17203397                         0.0085                                      5.6915
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           17203336                         0.0085                                      6.0665
           17203374                         0.0085                                      5.6915
           17203329                         0.0085                                      5.8165
           17203327                         0.0085                                      5.5665
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           17203335                         0.0085                                      6.0665
           17203291                         0.0085                                      5.5665
           17203289                         0.0085                                      6.1915
           17203372                         0.0085                                      4.5665
           17203296                         0.0085                                      5.8165
           17203254                         0.0085                                      5.9415
           17203444                         0.0085                                      6.3165
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           17203414                         0.0085                                      6.0665
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           17203376                         0.0085                                      5.5665
           17203370                         0.0085                                      5.6915
           17203248                         0.0085                                      5.9415
           17203341                         0.0085                                      5.8165
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           17203375                         0.0085                                      5.8165
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           17203386                         0.0085                                      5.8165
           17203311                         0.0085                                      4.8165
           17203420                         0.0085                                      5.8165
           17203402                         0.0085                                      6.1915
           17203439                         0.0085                                      5.5665
           17203297                         0.0085                                      6.3165
           17203282                         0.0085                                      6.1915
           17203368                         0.0085                                      5.6915
           17203394                         0.0085                                      5.5665
           17203400                         0.0085                                      5.6915
           17203355                         0.0085                                      5.3165
           17203404                         0.0085                                      5.5665
           17203426                         0.0085                                      5.0665
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           17171963                         0.0085                                      6.0665
           17171966                         0.0085                                      5.9415
           17171967                         0.0085                                      5.6915
           17171968                         0.0085                                      5.9415
           17171969                         0.0085                                      5.6915
           17171970                         0.0085                                      5.5665
           17171971                         0.0085                                      6.1915
           17171973                         0.0085                                      5.6915
           17171974                         0.0085                                      6.3165
           17171978                         0.0085                                      5.6915
           17171982                         0.0085                                      5.5665
           17171985                         0.0085                                      5.3165
           17171986                         0.0085                                      6.0665
           17171988                         0.0085                                      5.0665
           17171989                         0.0085                                      5.6915
           17171991                         0.0085                                      5.6915
           17171993                         0.0085                                      5.6915
           17171996                         0.0085                                      6.1915
           17171999                         0.0085                                      5.6915
           17171950                         0.0085                                      5.9415
           17171955                         0.0085                                      5.8165
           17171916                         0.0085                                      4.9415
           17171917                         0.0085                                      5.8165
           17171918                         0.0085                                      5.1915
           17171919                         0.0085                                      5.3165
           17171920                         0.0085                                      5.6915
           17171921                         0.0085                                      6.4415
           17171923                         0.0085                                      5.8165
           17171925                         0.0085                                      6.1915
           17171927                         0.0085                                      5.6915
           17171933                         0.0085                                      4.8165
           17171935                         0.0085                                      6.1915
           17171937                         0.0085                                      6.0665
           17171939                         0.0085                                      5.8165
           17171945                         0.0085                                      5.8165
           17171949                         0.0085                                      6.0665
           17175070                         0.0085                                      6.0665
           17175072                         0.0085                                      5.9415
           17175056                         0.0085                                      4.3165
           17175057                         0.0085                                      6.3165
           17175059                         0.0085                                      5.1915
           17175060                         0.0085                                      5.3165
           17175061                         0.0085                                      5.4415
           17175062                         0.0085                                      6.1915
           17175063                         0.0085                                      5.5665
           17175064                         0.0085                                      5.6915
           17175065                         0.0085                                      5.6915
           17175066                         0.0085                                      6.0665
           17175067                         0.0085                                      6.3165
           17175068                         0.0085                                      5.5665
           17175069                         0.0085                                      5.8165
           17175031                         0.0085                                      6.1915
           17175032                         0.0085                                      5.3165
           17175034                         0.0085                                      5.3165
           17175035                         0.0085                                      5.6915
           17175036                         0.0085                                      5.6915
           17175037                         0.0085                                      6.0665
           17175040                         0.0085                                      6.0665
           17175041                         0.0085                                      5.6915
           17175042                         0.0085                                      5.9415
           17175043                         0.0085                                      6.1915
           17175045                         0.0085                                      6.0665
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           17175047                         0.0085                                      6.0665
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           17175052                         0.0085                                      5.8165
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           17175024                         0.0085                                      6.3165
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           17175028                         0.0085                                      5.4415
           17175029                         0.0085                                      4.8165
           17172120                         0.0085                                      6.1915
           17172121                         0.0085                                      5.8165
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           17172123                         0.0085                                      6.4415
           17172124                         0.0085                                      6.0665
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           17172129                         0.0085                                      6.4415
           17172131                         0.0085                                      5.5665
           17172134                         0.0085                                      5.6915
           17172135                         0.0085                                      7.9415
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           17172139                         0.0085                                      6.6915
           17172100                         0.0085                                      5.5665
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           17172105                         0.0085                                      6.0665
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           17172107                         0.0085                                      5.5665
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           17172110                         0.0085                                      5.9415
           17172111                         0.0085                                      5.3165
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           17172115                         0.0085                                      5.8165
           17172116                         0.0085                                      5.5665
           17172117                         0.0085                                      5.5665
           17172119                         0.0085                                      6.0665
           17181161                         0.0085                                      6.3165
           17172090                         0.0085                                      5.8165
           17181162                         0.0085                                      6.1915
           17172091                         0.0085                                      5.9415
           17172092                         0.0085                                      5.6915
           17172093                         0.0085                                      6.0665
           17172094                         0.0085                                      5.6915
           17172095                         0.0085                                      5.1915
           17172097                         0.0085                                      4.5665
           17172098                         0.0085                                      6.3165
           17172099                         0.0085                                      4.5665
           17181150                         0.0085                                      5.6915
           17181151                         0.0085                                      5.5665
           17172080                         0.0085                                      5.3165
           17181152                         0.0085                                      6.1915
           17172081                         0.0085                                      5.4415
           17181153                         0.0085                                      5.4415
           17172082                         0.0085                                      5.6915
           17181154                         0.0085                                      5.5665
           17172083                         0.0085                                      5.9415
           17172085                         0.0085                                      5.5665
           17181158                         0.0085                                      5.4415
           17172087                         0.0085                                      6.0665
           17181159                         0.0085                                      6.3165
           17172088                         0.0085                                      6.1915
           17172089                         0.0085                                      6.0665
           17172060                         0.0085                                      6.0665
           17181132                         0.0085                                      5.8165
           17181133                         0.0085                                      5.4415
           17172062                         0.0085                                      6.4415
           17181134                         0.0085                                      5.4415
           17172063                         0.0085                                      4.6915
           17181135                         0.0085                                      5.5665
           17181136                         0.0085                                      6.1915
           17172066                         0.0085                                      5.9415
           17181138                         0.0085                                      6.1915
           17172067                         0.0085                                      5.6915
           17172069                         0.0085                                      5.6915
           17181140                         0.0085                                      5.9415
           17172070                         0.0085                                      5.6915
           17172071                         0.0085                                      5.6915
           17181143                         0.0085                                      5.9415
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           17181145                         0.0085                                      5.3165
           17181146                         0.0085                                      5.5665
           17172075                         0.0085                                      5.8165
           17181147                         0.0085                                      5.3165
           17172076                         0.0085                                      6.0665
           17181148                         0.0085                                      5.6915
           17172077                         0.0085                                      5.5665
           17172079                         0.0085                                      5.1915
           17181130                         0.0085                                      6.4415
           17181131                         0.0085                                      5.6915
           17181121                         0.0085                                      5.8165
           17172050                         0.0085                                      5.9415
           17181122                         0.0085                                      6.1915
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           17172054                         0.0085                                      5.6915
           17181126                         0.0085                                      6.1915
           17172056                         0.0085                                      5.5665
           17172059                         0.0085                                      5.8165
           17172047                         0.0085                                      5.6915
           17181119                         0.0085                                      5.9415
           17172021                         0.0085                                      5.8165
           17172024                         0.0085                                      5.6915
           17172025                         0.0085                                      5.6915
           17172026                         0.0085                                      5.0665
           17172027                         0.0085                                      5.6915
           17172028                         0.0085                                      6.1915
           17172029                         0.0085                                      6.1915
           17181100                         0.0085                                      5.6915
           17181101                         0.0085                                      6.4415
           17172030                         0.0085                                      5.9415
           17181102                         0.0085                                      5.6915
           17172031                         0.0085                                      5.5665
           17172032                         0.0085                                      5.4415
           17181104                         0.0085                                      5.8165
           17181105                         0.0085                                      5.9415
           17172034                         0.0085                                      6.4415
           17181106                         0.0085                                      5.3165
           17172035                         0.0085                                      5.9415
           17181107                         0.0085                                      6.0665
           17181108                         0.0085                                      5.6915
           17172037                         0.0085                                      5.6915
           17181109                         0.0085                                      5.9415
           17172038                         0.0085                                      6.0665
           17181110                         0.0085                                      6.0665
           17181111                         0.0085                                      5.3165
           17172040                         0.0085                                      5.4415
           17181112                         0.0085                                      7.0665
           17181113                         0.0085                                      4.8165
           17172042                         0.0085                                      5.3165
           17181114                         0.0085                                      5.5665
           17172043                         0.0085                                      5.9415
           17181115                         0.0085                                      5.6915
           17181116                         0.0085                                      5.8165
           17172045                         0.0085                                      6.3165
           17172046                         0.0085                                      4.5665
           17172017                         0.0085                                      5.8165
           17172018                         0.0085                                      5.5665
           17172019                         0.0085                                      6.0665
           17172000                         0.0085                                      6.6915
           17172006                         0.0085                                      5.6915
           17172007                         0.0085                                      5.4415
           17172009                         0.0085                                      5.4415
           17172011                         0.0085                                      5.6915
           17172013                         0.0085                                      6.4415
           17172015                         0.0085                                      5.6915
           17172016                         0.0085                                      5.4415
           17181088                         0.0085                                      5.6915
           17181090                         0.0085                                      5.6915
           17181092                         0.0085                                      5.9415
           17181093                         0.0085                                      6.3165
           17181094                         0.0085                                      6.5665
           17181095                         0.0085                                      5.6915
           17181096                         0.0085                                      5.3165
           17181097                         0.0085                                      5.9415
           17181099                         0.0085                                      5.1915
           17181082                         0.0085                                      5.6915
           17181083                         0.0085                                      5.6915
           17181084                         0.0085                                      6.4415
           17181085                         0.0085                                      5.9415
           17172140                         0.0085                                      6.0665
           17172141                         0.0085                                      6.3165
           17172142                         0.0085                                      5.6915
           17175038                         0.0085                                      6.0665
           17175039                         0.0085                                      6.1915
           17175044                         0.0085                                      4.5665
           17175073                         0.0085                                      6.0665
           17181098                         0.0085                                      6.1915
           17181103                         0.0085                                      5.6915
           17181118                         0.0085                                      5.8165
           17181128                         0.0085                                      5.6915
           17181129                         0.0085                                      5.6915
           17181137                         0.0085                                      5.6915
           17181139                         0.0085                                      4.8165
           17181144                         0.0085                                      5.6915
           17181149                         0.0085                                      6.0665
           17181155                         0.0085                                      6.3165
           17181156                         0.0085                                      6.0665
           17181157                         0.0085                                      5.3165
           17181160                         0.0085                                      5.8165
           17171928                         0.0085                                      5.9415
           17171929                         0.0085                                      5.9415
           17171930                         0.0085                                      5.4415
           17171931                         0.0085                                      4.8165
           17171932                         0.0085                                      6.4415
           17171934                         0.0085                                      6.3165
           17171936                         0.0085                                      6.0665
           17171938                         0.0085                                      5.9415
           17171940                         0.0085                                      6.0665
           17171941                         0.0085                                      6.4415
           17171942                         0.0085                                      5.5665
           17171943                         0.0085                                      4.8165
           17171944                         0.0085                                      5.4415
           17171947                         0.0085                                      5.4415
           17171948                         0.0085                                      5.8165
           17171953                         0.0085                                      4.6915
           17171954                         0.0085                                      6.0665
           17171956                         0.0085                                      6.0665
           17171958                         0.0085                                      5.8165
           17171959                         0.0085                                      5.9415
           17171961                         0.0085                                      5.6915
           17171964                         0.0085                                      6.0665
           17171975                         0.0085                                      6.0665
           17171976                         0.0085                                      6.3165
           17171977                         0.0085                                      6.1915
           17171981                         0.0085                                      6.3165
           17171984                         0.0085                                      4.9415
           17171994                         0.0085                                      6.4415
           17171997                         0.0085                                      5.8165
           17172003                         0.0085                                      4.5665
           17172058                         0.0085                                      4.1915
           17175030                         0.0085                                      5.3165
           17175033                         0.0085                                      5.6915
           17175055                         0.0085                                      6.3165
           17181087                         0.0085                                      6.5665
           17181089                         0.0085                                      5.9415
           17181091                         0.0085                                      5.6915
           17181127                         0.0085                                      6.0665
           17172118                         0.0085                                      5.4415
           17181142                         0.0085                                      5.4415

           LOAN_SEQ                      STATED_MAT                               STATED_ORIGINAL_TERM
           17020574                       20370201                                          360
           17020737                       20370201                                          360
           17020575                       20370201                                          360
           17020498                       20370101                                          360
           17020499                       20370201                                          360
           17020820                       20370201                                          360
           17020821                       20370201                                          360
           17020660                       20370201                                          360
           17020822                       20370201                                          360
           17020661                       20370101                                          360
           17020823                       20370201                                          360
           17020662                       20370201                                          360
           17020824                       20370201                                          360
           17020663                       20370101                                          360
           17020825                       20370101                                          360
           17020664                       20370201                                          360
           17020826                       20370201                                          360
           17020665                       20370201                                          360
           17020827                       20370201                                          360
           17020828                       20370201                                          360
           17020667                       20370101                                          360
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           17181126                       20370401                                          360
           17172056                       20370401                                          360
           17172059                       20370401                                          360
           17172047                       20370401                                          360
           17181119                       20370401                                          360
           17172021                       20370401                                          360
           17172024                       20370401                                          360
           17172025                       20370401                                          360
           17172026                       20370401                                          360
           17172027                       20370401                                          360
           17172028                       20370301                                          360
           17172029                       20370401                                          360
           17181100                       20370401                                          360
           17181101                       20370401                                          360
           17172030                       20370401                                          360
           17181102                       20370401                                          360
           17172031                       20370401                                          360
           17172032                       20370401                                          360
           17181104                       20370401                                          360
           17181105                       20370401                                          360
           17172034                       20370401                                          360
           17181106                       20370401                                          360
           17172035                       20370401                                          360
           17181107                       20370401                                          360
           17181108                       20370401                                          360
           17172037                       20370401                                          360
           17181109                       20370401                                          360
           17172038                       20370401                                          360
           17181110                       20370401                                          360
           17181111                       20370401                                          360
           17172040                       20370401                                          360
           17181112                       20370401                                          360
           17181113                       20370401                                          360
           17172042                       20370401                                          360
           17181114                       20370401                                          360
           17172043                       20370401                                          360
           17181115                       20370401                                          360
           17181116                       20370401                                          360
           17172045                       20370401                                          360
           17172046                       20370401                                          360
           17172017                       20370401                                          360
           17172018                       20370401                                          360
           17172019                       20370401                                          360
           17172000                       20370301                                          360
           17172006                       20370401                                          360
           17172007                       20370401                                          360
           17172009                       20370401                                          360
           17172011                       20370401                                          360
           17172013                       20370401                                          360
           17172015                       20370401                                          360
           17172016                       20370401                                          360
           17181088                       20370401                                          360
           17181090                       20370401                                          360
           17181092                       20370401                                          360
           17181093                       20370401                                          360
           17181094                       20370401                                          360
           17181095                       20370401                                          360
           17181096                       20370401                                          360
           17181097                       20370401                                          360
           17181099                       20370401                                          360
           17181082                       20370401                                          360
           17181083                       20370401                                          360
           17181084                       20370401                                          360
           17181085                       20370401                                          360
           17172140                       20370401                                          360
           17172141                       20370401                                          360
           17172142                       20370401                                          360
           17175038                       20370401                                          360
           17175039                       20370301                                          360
           17175044                       20370401                                          360
           17175073                       20370401                                          360
           17181098                       20370301                                          360
           17181103                       20370401                                          360
           17181118                       20370401                                          360
           17181128                       20370401                                          360
           17181129                       20370401                                          360
           17181137                       20370401                                          360
           17181139                       20370401                                          360
           17181144                       20370401                                          360
           17181149                       20370401                                          360
           17181155                       20370401                                          360
           17181156                       20370401                                          360
           17181157                       20370401                                          360
           17181160                       20370401                                          360
           17171928                       20370301                                          360
           17171929                       20370301                                          360
           17171930                       20370301                                          360
           17171931                       20370301                                          360
           17171932                       20370301                                          360
           17171934                       20370301                                          360
           17171936                       20370301                                          360
           17171938                       20370301                                          360
           17171940                       20370301                                          360
           17171941                       20370301                                          360
           17171942                       20370301                                          360
           17171943                       20370301                                          360
           17171944                       20370301                                          360
           17171947                       20370301                                          360
           17171948                       20370301                                          360
           17171953                       20370301                                          360
           17171954                       20370301                                          360
           17171956                       20370301                                          360
           17171958                       20370301                                          360
           17171959                       20370301                                          360
           17171961                       20370301                                          360
           17171964                       20370301                                          360
           17171975                       20370301                                          360
           17171976                       20370301                                          360
           17171977                       20370301                                          360
           17171981                       20370301                                          360
           17171984                       20370301                                          360
           17171994                       20370301                                          360
           17171997                       20370301                                          360
           17172003                       20370301                                          360
           17172058                       20370301                                          360
           17175030                       20370301                                          360
           17175033                       20370301                                          360
           17175055                       20370301                                          360
           17181087                       20370301                                          360
           17181089                       20370301                                          360
           17181091                       20370301                                          360
           17181127                       20370301                                          360
           17172118                       20370401                                          360
           17181142                       20370401                                          360

           LOAN_SEQ                             STATED_REM_TERM                       ORIGINAL_BALANCE
           17020574                                    358                              680000.00
           17020737                                    358                              439000.00
           17020575                                    358                              468750.00
           17020498                                    357                              500000.00
           17020499                                    358                              584480.00
           17020820                                    358                              605000.00
           17020821                                    358                              650000.00
           17020660                                    358                              444000.00
           17020822                                    358                              850000.00
           17020661                                    357                              650000.00
           17020823                                    358                              575000.00
           17020662                                    358                              572000.00
           17020824                                    358                              440000.00
           17020663                                    357                              612387.00
           17020825                                    357                              504200.00
           17020664                                    358                              700000.00
           17020826                                    358                              751200.00
           17020665                                    358                              576200.00
           17020827                                    358                              428000.00
           17020828                                    358                              488000.00
           17020667                                    357                              504000.00
           17020829                                    358                              600000.00
           17020668                                    357                              641250.00
           17020669                                    357                              467003.00
           17020830                                    358                              750000.00
           17020831                                    358                              672000.00
           17020670                                    357                              502278.00
           17020832                                    358                              513000.00
           17020833                                    358                              504000.00
           17020671                                    358                              456000.00
           17020834                                    358                              461300.00
           17020672                                    358                              584000.00
           17020835                                    358                              487500.00
           17020673                                    357                              595000.00
           17020836                                    357                              531000.00
           17020674                                    357                              419000.00
           17020837                                    358                              748000.00
           17020675                                    358                              500000.00
           17020838                                    358                              570000.00
           17020676                                    358                              744840.00
           17020839                                    358                              596500.00
           17020677                                    357                              470000.00
           17020678                                    357                              516000.00
           17020679                                    357                              500000.00
           17020840                                    358                              440000.00
           17020841                                    358                              835000.00
           17020842                                    358                              608000.00
           17020680                                    357                              560000.00
           17020843                                    358                              840000.00
           17020681                                    357                              504000.00
           17020844                                    358                              591200.00
           17020682                                    357                              424000.00
           17020845                                    358                              560000.00
           17020683                                    358                              460000.00
           17020846                                    358                             1000000.00
           17020684                                    358                              792000.00
           17020685                                    357                              422000.00
           17020848                                    358                             1000000.00
           17020686                                    358                              539200.00
           17020849                                    358                             1040000.00
           17020687                                    358                              428000.00
           17020688                                    357                              568000.00
           17020689                                    358                              479950.00
           17020850                                    358                              505000.00
           17020657                                    357                              720000.00
           17020495                                    357                              475000.00
           17020819                                    358                              447500.00
           17020658                                    357                              437650.00
           17020496                                    358                              750000.00
           17020659                                    358                              622400.00
           17020497                                    357                              559920.00
           17020492                                    357                              590000.00
           17020816                                    358                              636000.00
           17020655                                    357                              500000.00
           17020493                                    357                              586000.00
           17020817                                    358                              655500.00
           17020656                                    357                              536000.00
           17020494                                    357                              582000.00
           17020812                                    357                              527900.00
           17020651                                    358                              431500.00
           17020813                                    358                              715500.00
           17020814                                    358                             1000000.00
           17020652                                    358                              420000.00
           17020490                                    357                              475000.00
           17020491                                    357                              600000.00
           17020815                                    358                              650000.00
           17020654                                    357                              432000.00
           17020500                                    358                              549600.00
           17020501                                    357                              520000.00
           17020502                                    357                              644000.00
           17020503                                    357                              620000.00
           17020504                                    357                              431500.00
           17020505                                    357                             1000000.00
           17020506                                    357                              500000.00
           17020507                                    357                              490700.00
           17020508                                    358                              505000.00
           17020509                                    357                              582000.00
           17020510                                    357                              640000.00
           17020511                                    357                             1500000.00
           17020512                                    357                              450000.00
           17020513                                    357                              469000.00
           17020514                                    357                              450408.00
           17020515                                    358                              448000.00
           17020516                                    357                              494000.00
           17020517                                    358                              524500.00
           17020518                                    357                              524800.00
           17020519                                    357                              582000.00
           17020520                                    357                              480600.00
           17020521                                    357                              584000.00
           17020522                                    357                              422000.00
           17020523                                    357                              500000.00
           17020524                                    357                              934250.00
           17020525                                    358                              472500.00
           17020526                                    358                              475000.00
           17020527                                    357                              725000.00
           17020528                                    358                              570000.00
           17020529                                    357                              624680.00
           17020530                                    358                              546600.00
           17020531                                    357                              471500.00
           17020532                                    357                              479000.00
           17020533                                    357                              552000.00
           17020534                                    358                              513600.00
           17020535                                    357                              580000.00
           17020536                                    357                              887352.00
           17020537                                    358                              875000.00
           17020538                                    357                             1900000.00
           17020539                                    357                              840000.00
           17020700                                    358                              536500.00
           17020701                                    358                              424000.00
           17020702                                    358                              536000.00
           17020540                                    358                              585000.00
           17020703                                    358                              650000.00
           17020541                                    358                              608000.00
           17020704                                    358                              450000.00
           17020542                                    358                              527200.00
           17020705                                    357                              460500.00
           17020543                                    357                              468000.00
           17020706                                    357                              650000.00
           17020544                                    357                              479841.00
           17020707                                    358                              680000.00
           17020545                                    357                              880000.00
           17020708                                    358                             1500000.00
           17020546                                    358                              550000.00
           17020547                                    357                             1000000.00
           17020385                                    358                              520000.00
           17020548                                    357                              470000.00
           17020386                                    358                              564200.00
           17020549                                    357                              644000.00
           17020387                                    357                              760000.00
           17020388                                    358                              524000.00
           17020389                                    357                             1195360.00
           17020710                                    355                              600300.00
           17020711                                    358                              715000.00
           17020550                                    357                             1000000.00
           17020712                                    358                              680000.00
           17020551                                    357                              496000.00
           17020713                                    355                              580000.00
           17020714                                    358                              600000.00
           17020552                                    357                              460000.00
           17020715                                    355                              916000.00
           17020553                                    357                              433000.00
           17020391                                    357                              453881.00
           17020392                                    357                              495000.00
           17020554                                    358                              672000.00
           17020716                                    358                              640000.00
           17020717                                    355                              966000.00
           17020555                                    357                              912000.00
           17020393                                    358                              423975.00
           17020718                                    358                              764860.00
           17020556                                    357                              470000.00
           17020394                                    357                              540000.00
           17020395                                    355                              540000.00
           17020557                                    357                              893076.00
           17020719                                    355                             1400000.00
           17020558                                    358                              480000.00
           17020397                                    355                              650000.00
           17020559                                    357                              665000.00
           17020398                                    355                              637500.00
           17020399                                    358                              475000.00
           17020720                                    358                              455000.00
           17020721                                    358                              620000.00
           17020722                                    358                              436000.00
           17020560                                    358                              428000.00
           17020723                                    358                              650000.00
           17020561                                    358                              473200.00
           17020724                                    358                              727000.00
           17020562                                    357                              636800.00
           17020725                                    357                              432000.00
           17020563                                    357                              430000.00
           17020726                                    358                              735000.00
           17020564                                    358                              461000.00
           17020727                                    358                              619500.00
           17020565                                    358                              588200.00
           17020728                                    358                              650000.00
           17020566                                    358                              479200.00
           17020729                                    357                              639200.00
           17020567                                    357                              668000.00
           17020568                                    357                              956250.00
           17020569                                    357                              424000.00
           17020730                                    358                              806400.00
           17020731                                    358                              458235.00
           17020732                                    358                              591360.00
           17020570                                    358                              577500.00
           17020733                                    357                              600000.00
           17020571                                    357                              620000.00
           17020734                                    356                              520360.00
           17020572                                    357                              514350.00
           17020735                                    358                             2500000.00
           17020573                                    358                              805000.00
           17020736                                    358                              560000.00
           17020487                                    357                             1300000.00
           17020488                                    357                              610000.00
           17020489                                    357                              472000.00
           17020810                                    357                              535000.00
           17020811                                    358                              464000.00
           17020650                                    358                              480000.00
           17020791                                    358                              645600.00
           17020792                                    358                              424000.00
           17020793                                    358                              513600.00
           17020794                                    358                              670000.00
           17020795                                    358                              472000.00
           17020796                                    358                              944000.00
           17020797                                    357                              536000.00
           17020798                                    358                              600000.00
           17020799                                    358                              752500.00
           17020790                                    358                              602400.00
           17020646                                    358                              477000.00
           17020484                                    357                              520000.00
           17020808                                    358                              536000.00
           17020647                                    357                              465200.00
           17020485                                    357                              592000.00
           17020809                                    358                              498000.00
           17020648                                    357                              999999.00
           17020486                                    357                              480000.00
           17020649                                    357                              780000.00
           17020781                                    358                              478800.00
           17020782                                    358                              615500.00
           17020783                                    358                              504000.00
           17020784                                    358                              512000.00
           17020785                                    358                              472800.00
           17020786                                    358                              605000.00
           17020787                                    358                              540000.00
           17020788                                    357                              521000.00
           17020789                                    358                              560000.00
           17020612                                    357                              576000.00
           17020450                                    357                              450320.00
           17020613                                    357                              736000.00
           17020451                                    357                              650000.00
           17020614                                    357                              577000.00
           17020452                                    357                              486604.00
           17020615                                    358                              589000.00
           17020453                                    357                              566985.00
           17020616                                    357                              584000.00
           17020454                                    357                              552000.00
           17020617                                    358                              648000.00
           17020455                                    357                              450000.00
           17020456                                    357                              954000.00
           17020618                                    357                              594000.00
           17020619                                    357                              457000.00
           17020457                                    357                             1000000.00
           17020458                                    358                              552000.00
           17020459                                    357                              490000.00
           17020620                                    357                              644384.00
           17020621                                    357                              433200.00
           17020622                                    357                              491900.00
           17020460                                    357                              539192.00
           17020623                                    358                              719900.00
           17020461                                    357                              675500.00
           17020624                                    358                              525000.00
           17020462                                    357                              625000.00
           17020625                                    357                              685000.00
           17020463                                    357                              546185.00
           17020626                                    358                              548000.00
           17020464                                    357                              616850.00
           17020627                                    357                              456000.00
           17020465                                    357                              594000.00
           17020628                                    357                              440000.00
           17020466                                    357                             1349000.00
           17020629                                    355                              640000.00
           17020467                                    358                              480950.00
           17020468                                    357                              597100.00
           17020469                                    357                             1500000.00
           17020630                                    357                              563587.00
           17020631                                    357                              580000.00
           17020632                                    357                             1032000.00
           17020470                                    357                              525000.00
           17020633                                    358                              540240.00
           17020471                                    357                              600000.00
           17020634                                    358                              840000.00
           17020472                                    357                              450400.00
           17020635                                    358                              632000.00
           17020473                                    357                              472000.00
           17020636                                    358                              560000.00
           17020474                                    357                              566000.00
           17020637                                    358                              548000.00
           17020475                                    357                              555960.00
           17020638                                    357                              760112.00
           17020476                                    358                              750000.00
           17020477                                    357                              853000.00
           17020478                                    357                              458000.00
           17020479                                    357                              571500.00
           17020800                                    357                              860000.00
           17020801                                    357                             1000000.00
           17020640                                    358                              775000.00
           17020802                                    357                              548000.00
           17020641                                    357                              504000.00
           17020803                                    358                              504000.00
           17020642                                    358                              460000.00
           17020480                                    358                              624000.00
           17020804                                    358                              490000.00
           17020643                                    357                              966000.00
           17020481                                    357                              695700.00
           17020805                                    357                              830450.00
           17020644                                    358                              433374.00
           17020482                                    357                              820000.00
           17020806                                    358                              502500.00
           17020645                                    357                              740000.00
           17020483                                    357                              484000.00
           17020807                                    358                              560000.00
           17020436                                    356                              472620.00
           17020437                                    357                              419240.00
           17020438                                    357                              420000.00
           17020439                                    357                              571230.00
           17020600                                    357                              600000.00
           17020601                                    358                              600000.00
           17020602                                    358                              448000.00
           17020440                                    356                              535000.00
           17020603                                    357                              640000.00
           17020441                                    358                              500000.00
           17020604                                    358                              559000.00
           17020442                                    357                              510724.00
           17020605                                    358                              765927.00
           17020606                                    357                              500000.00
           17020444                                    357                              479950.00
           17020607                                    357                              721800.00
           17020445                                    357                              880000.00
           17020608                                    357                              552000.00
           17020446                                    357                              547840.00
           17020609                                    357                              664000.00
           17020447                                    357                              588000.00
           17020448                                    357                              421600.00
           17020449                                    356                              500500.00
           17020610                                    358                              456000.00
           17020611                                    357                              500000.00
           17020771                                    358                              520000.00
           17020772                                    358                              790000.00
           17020773                                    358                              626000.00
           17020774                                    358                              807500.00
           17020775                                    358                              443800.00
           17020777                                    358                              640000.00
           17020778                                    358                              435000.00
           17020779                                    358                              528000.00
           17020780                                    358                              572000.00
           17020400                                    356                             1250000.00
           17020401                                    356                             1000000.00
           17020402                                    358                              556996.00
           17020403                                    357                              510410.00
           17020404                                    356                              709720.00
           17020405                                    358                              500000.00
           17020406                                    359                              500000.00
           17020407                                    358                             1000000.00
           17020408                                    358                              750000.00
           17020409                                    358                              461200.00
           17020410                                    358                              983232.00
           17020411                                    357                              462800.00
           17020412                                    358                              640000.00
           17020413                                    358                              470000.00
           17020415                                    357                              574733.00
           17020416                                    357                              444742.00
           17020417                                    358                              479000.00
           17020418                                    358                             2000000.00
           17020419                                    358                             1000000.00
           17020420                                    358                              514500.00
           17020421                                    358                              536000.00
           17020422                                    358                              644000.00
           17020423                                    355                              766800.00
           17020424                                    356                              794000.00
           17020425                                    356                              468000.00
           17020427                                    357                              650000.00
           17020428                                    357                              489700.00
           17020429                                    356                              427000.00
           17020430                                    357                             1775000.00
           17020431                                    357                              650000.00
           17020432                                    357                              576000.00
           17020433                                    356                             1000000.00
           17020434                                    357                             2000000.00
           17020761                                    358                              544400.00
           17020762                                    358                             1000000.00
           17020763                                    358                              572000.00
           17020764                                    358                             1000000.00
           17020765                                    357                              467500.00
           17020766                                    357                              568000.00
           17020767                                    358                              552700.00
           17020768                                    358                              452400.00
           17020769                                    358                              600000.00
           17020770                                    357                              470100.00
           17020851                                    358                              956000.00
           17020852                                    358                              783000.00
           17020690                                    357                              650000.00
           17020853                                    358                              441000.00
           17020691                                    357                              496800.00
           17020854                                    358                              593600.00
           17020692                                    358                              528000.00
           17020855                                    358                              665000.00
           17020693                                    358                              529600.00
           17020856                                    358                             1500000.00
           17020694                                    357                              595000.00
           17020857                                    358                              735000.00
           17020695                                    357                              550000.00
           17020858                                    358                             1000000.00
           17020696                                    358                              460000.00
           17020859                                    358                              471100.00
           17020697                                    358                              468750.00
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           17203273                                    359                              450000.00
           17203446                                    360                              596000.00
           17203415                                    360                              438750.00
           17203389                                    360                              682000.00
           17203398                                    360                              428000.00
           17203274                                    360                             1050000.00
           17203318                                    360                              650000.00
           17203391                                    360                              607200.00
           17203399                                    360                              471900.00
           17203450                                    360                              520100.00
           17203447                                    360                              426000.00
           17203453                                    360                              480000.00
           17203428                                    360                              880000.00
           17203313                                    360                              705600.00
           17203431                                    360                              600000.00
           17203417                                    360                              544000.00
           17203343                                    358                              500000.00
           17203360                                    360                              549300.00
           17203416                                    360                              492000.00
           17203406                                    360                              434000.00
           17203367                                    360                              472231.00
           17203380                                    360                              432234.00
           17203286                                    360                              684000.00
           17203330                                    359                              720000.00
           17203249                                    359                              465364.00
           17203342                                    357                              424000.00
           17203346                                    359                              535000.00
           17203264                                    358                              500000.00
           17203322                                    360                              424130.00
           17203397                                    360                              549000.00
           17203407                                    360                              600000.00
           17203336                                    359                              573000.00
           17203374                                    360                              520000.00
           17203329                                    359                              932000.00
           17203327                                    360                              578000.00
           17203369                                    360                              490785.00
           17203335                                    360                              460000.00
           17203291                                    359                              660000.00
           17203289                                    359                              816750.00
           17203372                                    360                              612438.00
           17203296                                    360                             1500000.00
           17203254                                    356                              425500.00
           17203444                                    360                              511000.00
           17203365                                    360                              436000.00
           17203259                                    358                              600000.00
           17203366                                    360                              858000.00
           17203353                                    360                              650000.00
           17203285                                    360                              637000.00
           17203352                                    359                              535200.00
           17203306                                    360                              455500.00
           17203414                                    360                              881000.00
           17203393                                    360                              546600.00
           17203382                                    360                              485000.00
           17203302                                    359                              635090.00
           17203356                                    360                              912000.00
           17203387                                    480                              699425.00
           17203377                                    360                              520209.00
           17203308                                    359                              544000.00
           17203276                                    359                              420521.00
           17203288                                    360                              500000.00
           17203378                                    360                              421332.00
           17203376                                    360                              456000.00
           17203370                                    360                              464000.00
           17203248                                    357                              498427.83
           17203341                                    358                              514308.00
           17203334                                    359                              557600.00
           17203395                                    360                              439500.00
           17203332                                    360                              488000.00
           17203309                                    358                              744000.00
           17203375                                    360                              622000.00
           17203279                                    360                              491120.00
           17203386                                    360                              436000.00
           17203311                                    360                              483150.00
           17203420                                    360                              999000.00
           17203402                                    360                              799999.00
           17203439                                    360                              800000.00
           17203297                                    359                              464000.00
           17203282                                    359                              576000.00
           17203368                                    360                              480000.00
           17203394                                    360                              508000.00
           17203400                                    360                              576000.00
           17203355                                    360                              600000.00
           17203404                                    360                              480000.00
           17203426                                    360                              548000.00
           17203298                                    359                              539200.00
           17203304                                    360                              472500.00
           17203434                                    360                              603000.00
           17171962                                    360                              614000.00
           17171963                                    360                              467000.00
           17171966                                    360                              476000.00
           17171967                                    360                              640000.00
           17171968                                    360                              549000.00
           17171969                                    360                              650000.00
           17171970                                    360                              540000.00
           17171971                                    360                              480000.00
           17171973                                    360                              600000.00
           17171974                                    360                              608000.00
           17171978                                    360                              460000.00
           17171982                                    360                              649999.00
           17171985                                    360                              650000.00
           17171986                                    360                              500000.00
           17171988                                    360                              573000.00
           17171989                                    360                              559000.00
           17171991                                    360                              514000.00
           17171993                                    360                              688200.00
           17171996                                    360                              598636.00
           17171999                                    360                              480000.00
           17171950                                    359                              557000.00
           17171955                                    359                              669000.00
           17171916                                    359                              535065.00
           17171917                                    360                             1000000.00
           17171918                                    360                              715944.00
           17171919                                    360                              920000.00
           17171920                                    360                              569600.00
           17171921                                    360                              487804.00
           17171923                                    360                              528000.00
           17171925                                    358                              999950.00
           17171927                                    360                              605368.00
           17171933                                    359                              485000.00
           17171935                                    480                              770800.00
           17171937                                    360                              450000.00
           17171939                                    360                             1000000.00
           17171945                                    360                              550000.00
           17171949                                    360                              513430.00
           17175070                                    360                              516000.00
           17175072                                    360                              524800.00
           17175056                                    360                              739850.00
           17175057                                    360                              944489.00
           17175059                                    480                              920000.00
           17175060                                    360                              600000.00
           17175061                                    360                             1341600.00
           17175062                                    360                              640000.00
           17175063                                    360                             1000000.00
           17175064                                    360                              592000.00
           17175065                                    360                              442000.00
           17175066                                    360                              487500.00
           17175067                                    360                              466458.00
           17175068                                    360                              500000.00
           17175069                                    360                              588000.00
           17175031                                    359                              560000.00
           17175032                                    360                              644000.00
           17175034                                    360                              540000.00
           17175035                                    360                              563600.00
           17175036                                    360                              600000.00
           17175037                                    360                              696600.00
           17175040                                    360                              534000.00
           17175041                                    360                              438500.00
           17175042                                    360                              492000.00
           17175043                                    360                              500000.00
           17175045                                    360                              499000.00
           17175046                                    360                              999936.00
           17175047                                    360                              740000.00
           17175050                                    360                              571333.00
           17175051                                    360                              524679.00
           17175052                                    360                              468000.00
           17175053                                    360                              708000.00
           17175024                                    354                              588000.00
           17175025                                    360                              600000.00
           17175026                                    360                              712800.00
           17175027                                    360                              713960.00
           17175028                                    358                              739900.00
           17175029                                    360                              478488.00
           17172120                                    360                              610000.00
           17172121                                    360                              725000.00
           17172122                                    360                              496000.00
           17172123                                    360                              546400.00
           17172124                                    360                              540000.00
           17172128                                    360                              448000.00
           17172129                                    360                              664000.00
           17172131                                    360                              825000.00
           17172134                                    360                              579000.00
           17172135                                    360                             1000000.00
           17172137                                    360                              508000.00
           17172138                                    360                              445963.00
           17172139                                    360                              477600.00
           17172100                                    360                              446200.00
           17172101                                    360                              487000.00
           17172102                                    360                              436790.00
           17172103                                    360                              652000.00
           17172105                                    360                              640800.00
           17172106                                    360                             1000000.00
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           17172108                                    360                              491000.00
           17172109                                    360                              431000.00
           17172110                                    360                              539000.00
           17172111                                    360                              424000.00
           17172113                                    360                              880000.00
           17172115                                    360                             1000000.00
           17172116                                    360                              650000.00
           17172117                                    360                              430000.00
           17172119                                    360                              528000.00
           17181161                                    360                              500000.00
           17172090                                    360                              692000.00
           17181162                                    359                              422400.00
           17172091                                    360                              557300.00
           17172092                                    360                              660000.00
           17172093                                    360                              982500.00
           17172094                                    360                              534400.00
           17172095                                    360                              456000.00
           17172097                                    360                              540000.00
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           17172099                                    360                              540000.00
           17181150                                    360                              549000.00
           17181151                                    360                              500000.00
           17172080                                    360                              780000.00
           17181152                                    360                              473900.00
           17172081                                    360                              447920.00
           17181153                                    360                              452000.00
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           17181154                                    360                              520000.00
           17172083                                    360                              639000.00
           17172085                                    360                              720000.00
           17181158                                    360                              473400.00
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           17181159                                    360                              560000.00
           17172088                                    360                              430000.00
           17172089                                    360                              464000.00
           17172060                                    360                              556000.00
           17181132                                    360                              494400.00
           17181133                                    360                              811500.00
           17172062                                    360                              500000.00
           17181134                                    360                              440000.00
           17172063                                    360                              540000.00
           17181135                                    360                              576000.00
           17181136                                    360                              500000.00
           17172066                                    360                              719000.00
           17181138                                    360                              488000.00
           17172067                                    360                              920000.00
           17172069                                    360                              500000.00
           17181140                                    360                              476000.00
           17172070                                    360                              479500.00
           17172071                                    360                              522000.00
           17181143                                    360                              840000.00
           17172072                                    360                              715000.00
           17181145                                    360                              575200.00
           17181146                                    360                              546000.00
           17172075                                    360                              700000.00
           17181147                                    360                              500000.00
           17172076                                    360                              824000.00
           17181148                                    360                              520000.00
           17172077                                    360                              690000.00
           17172079                                    360                              460000.00
           17181130                                    360                              609450.00
           17181131                                    360                              838150.00
           17181121                                    360                             1060000.00
           17172050                                    360                              450000.00
           17181122                                    360                              473890.00
           17181123                                    360                              508000.00
           17172052                                    360                              536000.00
           17181124                                    360                              570400.00
           17181125                                    360                              720000.00
           17172054                                    360                              776000.00
           17181126                                    360                              900380.00
           17172056                                    360                              552000.00
           17172059                                    360                              640000.00
           17172047                                    360                              708000.00
           17181119                                    360                              769680.00
           17172021                                    360                              955920.00
           17172024                                    360                              636000.00
           17172025                                    360                              799800.00
           17172026                                    360                              640000.00
           17172027                                    360                              520000.00
           17172028                                    359                              685000.00
           17172029                                    360                              595000.00
           17181100                                    360                              438000.00
           17181101                                    360                              728000.00
           17172030                                    360                              453600.00
           17181102                                    360                              448000.00
           17172031                                    360                              688000.00
           17172032                                    360                              896000.00
           17181104                                    360                              625000.00
           17181105                                    360                              472000.00
           17172034                                    360                              522000.00
           17181106                                    360                              552000.00
           17172035                                    360                              464000.00
           17181107                                    360                              440000.00
           17181108                                    360                              500000.00
           17172037                                    360                              668000.00
           17181109                                    360                              486000.00
           17172038                                    360                              428000.00
           17181110                                    360                              925799.00
           17181111                                    360                              900000.00
           17172040                                    360                              750000.00
           17181112                                    360                              588000.00
           17181113                                    360                              450000.00
           17172042                                    360                              448000.00
           17181114                                    360                              824588.00
           17172043                                    360                              776000.00
           17181115                                    360                              500000.00
           17181116                                    360                              700000.00
           17172045                                    360                              420500.00
           17172046                                    360                              513600.00
           17172017                                    360                              454759.00
           17172018                                    360                              564000.00
           17172019                                    360                              522550.00
           17172000                                    359                              695200.00
           17172006                                    360                              540000.00
           17172007                                    360                             1329000.00
           17172009                                    360                              650000.00
           17172011                                    360                              840000.00
           17172013                                    360                              500000.00
           17172015                                    360                              459000.00
           17172016                                    360                              512000.00
           17181088                                    360                              528500.00
           17181090                                    360                              488000.00
           17181092                                    360                              440000.00
           17181093                                    360                              608000.00
           17181094                                    360                              606240.00
           17181095                                    360                              577000.00
           17181096                                    360                              576000.00
           17181097                                    360                              489000.00
           17181099                                    360                              649900.00
           17181082                                    360                              436000.00
           17181083                                    360                              486500.00
           17181084                                    360                              500000.00
           17181085                                    360                              456000.00
           17172140                                    360                              426560.00
           17172141                                    360                              568000.00
           17172142                                    360                              503522.00
           17175038                                    360                              620500.00
           17175039                                    359                              640000.00
           17175044                                    360                              509272.00
           17175073                                    360                              618500.00
           17181098                                    359                              512000.00
           17181103                                    360                              480000.00
           17181118                                    360                              676000.00
           17181128                                    360                              508000.00
           17181129                                    360                              543500.00
           17181137                                    360                              650000.00
           17181139                                    360                              550000.00
           17181144                                    360                              708000.00
           17181149                                    360                              999999.00
           17181155                                    360                             1220000.00
           17181156                                    360                              500000.00
           17181157                                    360                              616000.00
           17181160                                    360                              488000.00
           17171928                                    359                              479900.00
           17171929                                    359                              615800.00
           17171930                                    359                              650000.00
           17171931                                    359                              694350.00
           17171932                                    359                              475000.00
           17171934                                    359                              517320.00
           17171936                                    359                              527950.00
           17171938                                    359                              576800.00
           17171940                                    359                              444000.00
           17171941                                    359                              475000.00
           17171942                                    359                             1500000.00
           17171943                                    359                              799900.00
           17171944                                    359                             2500000.00
           17171947                                    359                              744000.00
           17171948                                    359                              530400.00
           17171953                                    359                              542400.00
           17171954                                    359                              460000.00
           17171956                                    359                              452000.00
           17171958                                    359                              533850.00
           17171959                                    359                              650000.00
           17171961                                    359                              943200.00
           17171964                                    359                              640000.00
           17171975                                    359                              568000.00
           17171976                                    359                              451850.00
           17171977                                    359                              845000.00
           17171981                                    359                              712000.00
           17171984                                    359                              452000.00
           17171994                                    359                              558400.00
           17171997                                    359                              464000.00
           17172003                                    359                              880000.00
           17172058                                    359                              590772.00
           17175030                                    359                              580750.00
           17175033                                    359                              511200.00
           17175055                                    359                              496000.00
           17181087                                    359                              560800.00
           17181089                                    359                              472932.00
           17181091                                    359                              612000.00
           17181127                                    359                              585000.00
           17172118                                    360                              718000.00
           17181142                                    360                             1666888.00

            LOAN_SEQ                         FIRST_PAY_DATE               PAYMENT
           17020574                            20070301                  3612.50
           17020737                            20070301                  1966.35
           17020575                            20070301                  2246.09
           17020498                            20070201                  2604.17
           17020499                            20070301                  3410.87
           17020820                            20070301                  2835.94
           17020821                            20070301                  3181.56
           17020660                            20070301                  2451.25
           17020822                            20070301                  4072.92
           17020661                            20070201                  3114.58
           17020823                            20070301                  2875.00
           17020662                            20070301                  2919.58
           17020824                            20070301                  2148.39
           17020663                            20070201                  3189.43
           17020825                            20070201                  2415.96
           17020664                            20070301                  3717.12
           17020826                            20070301                  3677.75
           17020665                            20070301                  2760.96
           17020827                            20070301                  2140.00
           17020828                            20070301                  2385.83
           17020667                            20070201                  2519.50
           17020829                            20070301                  2687.50
           17020668                            20070201                  3406.64
           17020669                            20070201                  2286.37
           17020830                            20070301                  3593.75
           17020831                            20070301                  3290.00
           17020670                            20070201                  2459.07
           17020832                            20070301                  2671.88
           17020833                            20070301                  2467.50
           17020671                            20070301                  2280.00
           17020834                            20070301                  2258.45
           17020672                            20070301                  3102.50
           17020835                            20070301                  2537.99
           17020673                            20070201                  3285.61
           17020836                            20070201                  2655.00
           17020674                            20070201                  2051.35
           17020837                            20070301                  3817.92
           17020675                            20070301                  2447.92
           17020838                            20070301                  2612.50
           17020676                            20070301                  3724.20
           17020839                            20070301                  2671.82
           17020677                            20070201                  2594.79
           17020678                            20070201                  2848.75
           17020679                            20070201                  2656.25
           17020840                            20070301                  2154.17
           17020841                            20070301                  4088.02
           17020842                            20070301                  2913.33
           17020680                            20070201                  3208.33
           17020843                            20070301                  4112.50
           17020681                            20070201                  2625.00
           17020844                            20070301                  2956.00
           17020682                            20070201                  2120.00
           17020845                            20070301                  2800.00
           17020683                            20070301                  2151.55
           17020846                            20070301                  4479.17
           17020684                            20070301                  3877.50
           17020685                            20070201                  2496.29
           17020848                            20070301                  5312.50
           17020686                            20070301                  2805.78
           17020849                            20070301                  5415.52
           17020687                            20070301                  2226.56
           17020688                            20070201                  3060.40
           17020689                            20070301                  2399.75
           17020850                            20070301                  2472.40
           17020657                            20070201                  3525.00
           17020495                            20070201                  2375.00
           17020819                            20070301                  2284.11
           17020658                            20070201                  2325.02
           17020496                            20070301                  3750.00
           17020659                            20070301                  3112.00
           17020497                            20070201                  2798.94
           17020492                            20070201                  2827.08
           17020816                            20070301                  3113.75
           17020655                            20070201                  2552.08
           17020493                            20070201                  3052.08
           17020817                            20070301                  2867.81
           17020656                            20070201                  2791.67
           17020494                            20070201                  2935.83
           17020812                            20070201                  2804.47
           17020651                            20070301                  2337.29
           17020813                            20070301                  3652.03
           17020814                            20070301                  4895.83
           17020652                            20070301                  2187.50
           17020490                            20070201                  2177.08
           17020491                            20070201                  2810.91
           17020815                            20070301                  3114.58
           17020654                            20070201                  2295.00
           17020500                            20070301                  2793.56
           17020501                            20070201                  2870.83
           17020502                            20070201                  3758.21
           17020503                            20070201                  2841.67
           17020504                            20070201                  2200.92
           17020505                            20070201                  5208.33
           17020506                            20070201                  2957.69
           17020507                            20070201                  2504.61
           17020508                            20070301                  2472.40
           17020509                            20070201                  3031.25
           17020510                            20070201                  3000.00
           17020511                            20070201                  7647.29
           17020512                            20070201                  2296.88
           17020513                            20070201                  2244.90
           17020514                            20070201                  1876.70
           17020515                            20070301                  2333.33
           17020516                            20070201                  2470.00
           17020517                            20070301                  3186.92
           17020518                            20070201                  2624.00
           17020519                            20070201                  2606.88
           17020520                            20070201                  2302.88
           17020521                            20070201                  2859.17
           17020522                            20070201                  2066.04
           17020523                            20070201                  3038.06
           17020524                            20070201                  4865.88
           17020525                            20070301                  2460.94
           17020526                            20070301                  2226.56
           17020527                            20070201                  3473.95
           17020528                            20070301                  2375.00
           17020529                            20070201                  2798.05
           17020530                            20070301                  2846.88
           17020531                            20070201                  2308.39
           17020532                            20070201                  2795.31
           17020533                            20070201                  2702.50
           17020534                            20070301                  3162.32
           17020535                            20070201                  3384.72
           17020536                            20070201                  5463.58
           17020537                            20070301                  4283.85
           17020538                            20070201                  8312.50
           17020539                            20070201                  3547.40
           17020700                            20070301                  2624.63
           17020701                            20070301                  1855.00
           17020702                            20070301                  2735.83
           17020540                            20070301                  3460.50
           17020703                            20070301                  3453.13
           17020541                            20070301                  2976.67
           17020704                            20070301                  2430.59
           17020542                            20070301                  3076.60
           17020705                            20070201                  2254.39
           17020543                            20070201                  2486.25
           17020706                            20070201                  3182.29
           17020544                            20070201                  2349.22
           17020707                            20070301                  3754.17
           17020545                            20070201                  4400.00
           17020708                            20070301                  7500.00
           17020546                            20070301                  2692.31
           17020547                            20070201                  4375.00
           17020385                            20070301                  2654.17
           17020548                            20070201                  2705.59
           17020386                            20070301                  2468.38
           17020549                            20070201                  3421.25
           17020387                            20070201                  3800.00
           17020388                            20070301                  2347.08
           17020389                            20070201                  4731.63
           17020710                            20061201                  3696.15
           17020711                            20070301                  3420.62
           17020550                            20070201                  4895.83
           17020712                            20070301                  3116.67
           17020551                            20070201                  2428.33
           17020713                            20061201                  3477.39
           17020714                            20070301                  3501.44
           17020552                            20070201                  1964.58
           17020715                            20061201                  3815.83
           17020553                            20070201                  2029.69
           17020391                            20070201                  2080.29
           17020392                            20070201                  2420.88
           17020554                            20070301                  3290.00
           17020716                            20070301                  3465.80
           17020717                            20061201                  4452.99
           17020555                            20070201                  4655.00
           17020393                            20070301                  1987.38
           17020718                            20070301                  3107.24
           17020556                            20070201                  2447.92
           17020394                            20070201                  2925.00
           17020395                            20061201                  2868.75
           17020557                            20070201                  4651.44
           17020719                            20061201                  7145.83
           17020558                            20070301                  2801.15
           17020397                            20061201                  3453.13
           17020559                            20070201                  3185.80
           17020398                            20061201                  3121.09
           17020399                            20070301                  2325.52
           17020720                            20070301                  2417.19
           17020721                            20070301                  3100.00
           17020722                            20070301                  2089.17
           17020560                            20070301                  2271.80
           17020723                            20070301                  3385.42
           17020561                            20070301                  2267.42
           17020724                            20070301                  4300.48
           17020562                            20070201                  2786.00
           17020725                            20070201                  2250.00
           17020563                            20070201                  2044.12
           17020726                            20070301                  3598.44
           17020564                            20070301                  2256.98
           17020727                            20070301                  3032.97
           17020565                            20070301                  3063.54
           17020728                            20070301                  3520.83
           17020566                            20070301                  2545.54
           17020729                            20070201                  3480.36
           17020567                            20070201                  3951.47
           17020568                            20070201                  4482.42
           17020569                            20070201                  1987.50
           17020730                            20070301                  5230.30
           17020731                            20070301                  1813.85
           17020732                            20070301                  3018.40
           17020570                            20070301                  3067.97
           17020733                            20070201                  3000.00
           17020571                            20070201                  3229.17
           17020734                            20070101                  2655.75
           17020572                            20070201                  2839.62
           17020735                            20070301                 12760.42
           17020573                            20070301                  4024.99
           17020736                            20070301                  2858.33
           17020487                            20070201                  7689.99
           17020488                            20070201                  2986.46
           17020489                            20070201                  2261.67
           17020810                            20070201                  2786.46
           17020811                            20070301                  2416.67
           17020650                            20070301                  2200.00
           17020791                            20070301                  3093.50
           17020792                            20070301                  2120.00
           17020793                            20070301                  2568.00
           17020794                            20070301                  3140.63
           17020795                            20070301                  2064.99
           17020796                            20070301                  4818.33
           17020797                            20070201                  2568.33
           17020798                            20070301                  3000.00
           17020799                            20070301                  3605.73
           17020790                            20070301                  3137.50
           17020646                            20070301                  2434.69
           17020484                            20070201                  2600.00
           17020808                            20070301                  2677.89
           17020647                            20070201                  2277.32
           17020485                            20070201                  2896.86
           17020809                            20070301                  2276.83
           17020648                            20070201                  5000.00
           17020486                            20070201                  2250.00
           17020649                            20070201                  4613.99
           17020781                            20070301                  2543.63
           17020782                            20070301                  2949.27
           17020783                            20070301                  2625.00
           17020784                            20070301                  2453.33
           17020785                            20070301                  2117.75
           17020786                            20070301                  2961.98
           17020787                            20070301                  2643.35
           17020788                            20070201                  2659.27
           17020789                            20070301                  2683.10
           17020612                            20070201                  3000.00
           17020450                            20070201                  1970.15
           17020613                            20070201                  3986.67
           17020451                            20070201                  3182.29
           17020614                            20070201                  3505.91
           17020452                            20070201                  2801.17
           17020615                            20070301                  3578.83
           17020453                            20070201                  3006.62
           17020616                            20070201                  2797.70
           17020454                            20070201                  3265.29
           17020617                            20070301                  2767.50
           17020455                            20070201                  2296.88
           17020456                            20070201                  5643.27
           17020618                            20070201                  3902.16
           17020619                            20070201                  1808.96
           17020457                            20070201                  5416.67
           17020458                            20070301                  3309.52
           17020459                            20070201                  2296.88
           17020620                            20070201                  3289.04
           17020621                            20070201                  2030.62
           17020622                            20070201                  2510.74
           17020460                            20070201                  2638.91
           17020623                            20070301                  4258.48
           17020461                            20070201                  2805.05
           17020624                            20070301                  2789.06
           17020462                            20070201                  3125.00
           17020625                            20070201                  3353.65
           17020463                            20070201                  2787.82
           17020626                            20070301                  2682.92
           17020464                            20070201                  3019.99
           17020627                            20070201                  2232.50
           17020465                            20070201                  2970.00
           17020628                            20070201                  2245.83
           17020466                            20070201                  6323.44
           17020629                            20061201                  3066.67
           17020467                            20070301                  2304.55
           17020468                            20070201                  3172.08
           17020469                            20070201                  6125.00
           17020630                            20070201                  2348.28
           17020631                            20070201                  2900.00
           17020632                            20070201                  4730.00
           17020470                            20070201                  2460.94
           17020633                            20070301                  2757.48
           17020471                            20070201                  3250.00
           17020634                            20070301                  4375.00
           17020472                            20070201                  2392.75
           17020635                            20070301                  3688.18
           17020473                            20070201                  2409.17
           17020636                            20070301                  2625.00
           17020474                            20070201                  2712.08
           17020637                            20070301                  2397.50
           17020475                            20070201                  3200.42
           17020638                            20070201                  3721.38
           17020476                            20070301                  3671.88
           17020477                            20070201                  4353.85
           17020478                            20070201                  2194.58
           17020479                            20070201                  2976.56
           17020800                            20070201                  3941.67
           17020801                            20070201                  5416.67
           17020640                            20070301                  3955.73
           17020802                            20070201                  2965.41
           17020641                            20070201                  2625.00
           17020803                            20070301                  2519.45
           17020642                            20070301                  2198.90
           17020480                            20070301                  3120.00
           17020804                            20070301                  2500.33
           17020643                            20070201                  5560.84
           17020481                            20070201                  3333.56
           17020805                            20070201                  3979.24
           17020644                            20070301                  1760.58
           17020482                            20070201                  4270.53
           17020806                            20070301                  2458.13
           17020645                            20070201                  4496.32
           17020483                            20070201                  2571.25
           17020807                            20070301                  2508.33
           17020436                            20070101                  2311.38
           17020437                            20070201                  1965.19
           17020438                            20070201                  2056.25
           17020439                            20070201                  3198.73
           17020600                            20070201                  3000.00
           17020601                            20070301                  3121.08
           17020602                            20070301                  2053.33
           17020440                            20070101                  3009.38
           17020603                            20070201                  2800.00
           17020441                            20070301                  2604.17
           17020604                            20070301                  2678.54
           17020442                            20070201                  2500.42
           17020605                            20070301                  4068.99
           17020606                            20070201                  2395.83
           17020444                            20070201                  1999.79
           17020607                            20070201                  3684.19
           17020445                            20070201                  4400.00
           17020608                            20070201                  2817.50
           17020446                            20070201                  2509.13
           17020609                            20070201                  3181.67
           17020447                            20070201                  2756.25
           17020448                            20070201                  2263.24
           17020449                            20070101                  2293.96
           17020610                            20070301                  2137.50
           17020611                            20070201                  2083.33
           17020771                            20070301                  2654.17
           17020772                            20070301                  3620.83
           17020773                            20070301                  3064.79
           17020774                            20070301                  4037.50
           17020775                            20070301                  2123.95
           17020777                            20070301                  3261.56
           17020778                            20070301                  2220.27
           17020779                            20070301                  2805.00
           17020780                            20070301                  2681.25
           17020400                            20070101                  6376.33
           17020401                            20070101                  6076.11
           17020402                            20070301                  2204.78
           17020403                            20070201                  2392.53
           17020404                            20070101                  3178.95
           17020405                            20070301                  2708.33
           17020406                            20070401                  2500.00
           17020407                            20070301                  5208.33
           17020408                            20070301                  3750.00
           17020409                            20070301                  2354.04
           17020410                            20070301                  4813.74
           17020411                            20070201                  2121.17
           17020412                            20070301                  3333.33
           17020413                            20070301                  2398.96
           17020415                            20070201                  2753.93
           17020416                            20070201                  2177.05
           17020417                            20070301                  2345.10
           17020418                            20070301                 10208.33
           17020419                            20070301                  4999.50
           17020420                            20070301                  2518.91
           17020421                            20070301                  2903.33
           17020422                            20070301                  3506.50
           17020423                            20061201                  3834.00
           17020424                            20070101                  4300.83
           17020425                            20070101                  2486.25
           17020427                            20070201                  3453.12
           17020428                            20070201                  2652.54
           17020429                            20070101                  2179.48
           17020430                            20070201                  9244.79
           17020431                            20070201                  3385.42
           17020432                            20070201                  3060.00
           17020433                            20070101                  4999.62
           17020434                            20070201                  9685.00
           17020761                            20070301                  2665.29
           17020762                            20070301                  4583.33
           17020763                            20070301                   602.52
           17020764                            20070301                  4479.17
           17020765                            20070201                  2532.29
           17020766                            20070201                  2776.92
           17020767                            20070301                  2878.65
           17020768                            20070301                  2450.50
           17020769                            20070301                  3000.00
           17020770                            20070201                  2105.66
           17020851                            20070301                  3983.33
           17020852                            20070301                  3588.75
           17020690                            20070201                  3385.42
           17020853                            20070301                  2205.00
           17020691                            20070201                  2587.50
           17020854                            20070301                  3153.50
           17020692                            20070301                  2750.00
           17020855                            20070301                  3237.97
           17020693                            20070301                  2868.66
           17020856                            20070301                  6875.00
           17020694                            20070201                  3472.26
           17020857                            20070301                  3598.44
           17020695                            20070201                  2864.58
           17020858                            20070301                  4895.83
           17020696                            20070301                  2395.81
           17020859                            20070301                  2355.50
           17020697                            20070301                  2246.09
           17020698                            20070301                  3071.25
           17020699                            20070301                  3125.00
           17020860                            20070301                  5145.83
           17020861                            20070301                  4320.00
           17020862                            20070301                  3046.88
           17020740                            20070301                  6499.10
           17020741                            20070301                  3308.33
           17020742                            20070301                  3759.04
           17020580                            20070201                  2325.51
           17020743                            20070301                  2500.00
           17020581                            20070201                  2681.77
           17020744                            20070301                  2679.17
           17020582                            20070301                  2271.50
           17020745                            20070401                  3157.01
           17020583                            20070301                  2496.88
           17020746                            20070301                  2870.83
           17020584                            20070201                  3015.83
           17020747                            20070301                  2269.91
           17020585                            20070201                  2062.50
           17020748                            20070301                 10582.03
           17020586                            20070301                  3175.00
           17020749                            20070301                  3665.63
           17020587                            20070301                  3202.66
           17020588                            20070201                  2453.33
           17020589                            20070301                  3033.33
           17020750                            20070301                  2909.26
           17020751                            20070301                  4895.83
           17020590                            20070201                  3110.78
           17020752                            20070201                  4781.25
           17020591                            20070201                  2002.92
           17020753                            20070201                  2145.57
           17020592                            20070201                  2185.00
           17020754                            20070301                  2176.56
           17020593                            20070201                  2654.16
           17020755                            20070301                  2105.21
           17020594                            20070301                  2807.29
           17020756                            20070301                  3981.25
           17020595                            20070201                  2949.67
           17020757                            20070301                  5103.17
           17020596                            20070201                  2720.61
           17020758                            20070301                  2753.33
           17020597                            20070201                  3417.15
           17020759                            20070301                  2124.79
           17020598                            20070201                  2226.56
           17020599                            20070301                  3645.66
           17020760                            20070301                  3387.92
           17020738                            20070201                  3274.63
           17020576                            20070201                  2937.50
           17020739                            20070301                  2656.25
           17020577                            20070301                  3034.58
           17020578                            20070201                  2833.29
           17020390                            20060801                  2357.36
           17149253                            20070501                  2542.02
           17129133                            20070301                  2487.92
           17120372                            20070401                  2471.50
           17120377                            20070401                  2481.17
           17120399                            20070401                  2563.75
           17129138                            20070401                  4900.00
           17120386                            20070401                  2137.46
           17120389                            20070401                  5634.40
           17120412                            20070401                  2604.48
           17120421                            20070401                  3202.34
           17120390                            20070401                  3052.29
           17120391                            20070401                  2960.00
           17120392                            20070401                  2480.00
           17120393                            20070401                  3611.26
           17120394                            20070401                  2198.53
           17120395                            20070401                  2175.00
           17120397                            20070401                  2770.73
           17120398                            20070401                  2317.71
           17120385                            20070401                  1872.50
           17120387                            20070401                  3286.32
           17120388                            20070401                  2644.96
           17120384                            20070401                  2836.13
           17120330                            20070301                  3066.67
           17120331                            20070401                  6805.24
           17120332                            20070301                  4950.00
           17120333                            20070301                  3272.50
           17120334                            20070401                  5385.42
           17120335                            20070301                  2875.00
           17120336                            20070301                  3801.56
           17120337                            20070401                  5875.00
           17120338                            20070301                  2056.25
           17120339                            20070401                  4983.33
           17120341                            20070401                  4715.00
           17120342                            20070301                  2330.42
           17120343                            20070401                  4287.50
           17120344                            20070301                  3845.00
           17120346                            20070301                  4895.83
           17120347                            20070301                  3769.79
           17120348                            20070401                  2130.62
           17120349                            20070401                  2777.81
           17120350                            20070401                  3554.39
           17120351                            20070301                  2640.00
           17120353                            20070401                  3078.59
           17120354                            20070401                  2232.50
           17120355                            20070401                  3126.05
           17120356                            20070401                  2398.23
           17120357                            20070401                  2198.23
           17120358                            20070301                  2735.83
           17120359                            20070401                  2488.28
           17120360                            20070401                  2500.00
           17120361                            20070401                  2937.50
           17120362                            20070401                  2592.92
           17120363                            20070401                  3320.31
           17120364                            20070401                  2585.58
           17120365                            20070401                  2654.17
           17120366                            20070401                  2228.13
           17120367                            20070401                  2836.67
           17120370                            20070401                  2443.75
           17120371                            20070401                  2706.71
           17120373                            20070401                  3182.29
           17120374                            20070301                  2486.25
           17120375                            20070401                  2679.69
           17120376                            20070401                  3370.25
           17120378                            20070401                  2373.96
           17120379                            20070401                  2368.75
           17120380                            20070501                  3428.00
           17120381                            20070401                  3076.67
           17120382                            20070401                  2520.00
           17120383                            20070401                  3760.00
           17120327                            20070301                  5205.73
           17120328                            20070201                  3023.84
           17149240                            20070501                  2337.50
           17149241                            20070401                  3024.22
           17149242                            20070401                  3000.00
           17149243                            20070401                  2375.00
           17149244                            20070501                  2917.03
           17149245                            20070501                  3760.00
           17149246                            20070501                  2604.17
           17149247                            20070501                  2725.00
           17149248                            20070501                  2562.50
           17149249                            20070501                  3041.67
           17149250                            20070501                  3375.00
           17149251                            20070501                  2717.83
           17149252                            20070501                  3750.00
           17149100                            20070501                  2369.58
           17149101                            20070501                  3133.33
           17149102                            20070501                  3656.57
           17129130                            20070401                  2293.81
           17129131                            20070401                  2660.00
           17129132                            20070401                  2406.30
           17129134                            20070401                  2838.33
           17129135                            20070301                  3645.66
           17129136                            20070501                  3607.50
           17129137                            20070301                  2868.66
           17129139                            20070401                  3214.06
           17129140                            20070401                  5614.58
           17129141                            20070401                  3304.45
           17129142                            20070401                  3000.00
           17129144                            20070501                  2855.42
           17129145                            20070401                  2946.67
           17129127                            20061001                  2283.85
           17129128                            20070301                  3381.44
           17129129                            20070401                  2425.48
           17120410                            20070401                  2424.48
           17120411                            20070401                  2577.08
           17120413                            20070401                  3000.00
           17120414                            20070401                  2609.38
           17120415                            20070401                  3720.83
           17120416                            20070401                  2878.75
           17120417                            20070401                  3899.58
           17120418                            20070401                  2617.42
           17120419                            20070501                  3470.83
           17120420                            20070401                  2260.00
           17120422                            20070401                  2268.23
           17120423                            20070401                  2169.34
           17120424                            20070401                  3333.33
           17120425                            20070401                  3125.85
           17120426                            20070401                  3113.66
           17149077                            20070401                  2036.78
           17149078                            20070401                  2692.71
           17149079                            20070401                  2000.00
           17149080                            20070401                  2592.50
           17149081                            20070401                  2501.04
           17149082                            20070401                  2252.08
           17149083                            20070401                  2407.08
           17149084                            20070401                  2109.38
           17149086                            20070501                  2332.60
           17149087                            20070101                  4084.61
           17149088                            20070101                  3201.55
           17149089                            20070401                  2552.08
           17149090                            20070401                  6447.35
           17149091                            20070401                  2403.49
           17120401                            20070401                  2330.42
           17120402                            20070401                  3607.50
           17120403                            20070501                  2479.71
           17120404                            20070401                  3140.00
           17120405                            20070401                  5145.83
           17120406                            20070401                  3152.92
           17120407                            20070401                  2552.05
           17120408                            20070401                  2931.18
           17120409                            20070401                  2858.29
           17149092                            20070401                 10937.50
           17149093                            20070501                  4593.75
           17149094                            20070501                  5312.50
           17149095                            20070501                  4800.00
           17149096                            20070501                  2263.54
           17149097                            20070401                  5388.33
           17149098                            20070401                  3843.23
           17149099                            20070501                  7343.75
           17120498                            20070301                  3185.16
           17120455                            20070401                  3754.69
           17120477                            20070401                  5810.28
           17120490                            20070401                  4202.73
           17120532                            20070401                  2608.13
           17120544                            20070401                  3333.33
           17120540                            20070401                  2845.83
           17120541                            20070401                  2491.56
           17120542                            20070401                  3220.00
           17120543                            20070401                  2270.83
           17120545                            20070401                  2220.31
           17120546                            20070401                  3354.69
           17120547                            20070401                  2316.25
           17120548                            20070401                  2890.00
           17120549                            20070401                  2597.81
           17120550                            20070401                  5208.33
           17120551                            20070401                  2604.17
           17120552                            20070401                  3916.67
           17120553                            20070401                  3786.46
           17120554                            20070401                  2955.44
           17120555                            20070401                  2521.46
           17120556                            20070401                  2751.67
           17120557                            20070401                  3442.19
           17120558                            20070401                  2390.63
           17120559                            20070401                  2462.33
           17120560                            20070401                  2843.75
           17120561                            20070401                  4000.00
           17120562                            20070401                  2677.50
           17120563                            20070401                  2424.48
           17120564                            20070401                  2373.44
           17120565                            20070401                  2081.21
           17120566                            20070401                  2704.06
           17120567                            20070401                  3033.33
           17120568                            20070401                  3125.00
           17120569                            20070401                  2600.00
           17120570                            20070401                  3612.50
           17120571                            20070401                  2448.00
           17120572                            20070401                  2494.79
           17120573                            20070401                  2500.00
           17120574                            20070401                  2816.67
           17120575                            20070401                  2645.42
           17120576                            20070401                  4270.93
           17120526                            20070301                  2369.79
           17120527                            20070401                  2218.33
           17120528                            20070401                  4782.31
           17120529                            20070401                  3035.62
           17120530                            20070401                  2469.04
           17120531                            20070401                  2205.00
           17120533                            20070401                  2592.92
           17120534                            20070401                  3588.59
           17120535                            20070401                  2909.38
           17120536                            20070401                  3588.74
           17120537                            20070401                  2546.27
           17120538                            20070401                  3596.00
           17120539                            20070401                  2378.54
           17120510                            20070401                  2250.00
           17120511                            20070301                  2608.33
           17120512                            20070401                  6926.01
           17120513                            20070401                  3318.36
           17120514                            20070401                  4262.50
           17120515                            20070401                  3803.75
           17120516                            20070401                  2550.00
           17120517                            20070301                  2115.00
           17120518                            20070301                  2857.50
           17120519                            20070401                  4687.50
           17120520                            20070401                  2968.75
           17120521                            20070401                  4652.92
           17120522                            20070401                  2407.50
           17120523                            20070301                  2749.45
           17120524                            20070401                  3325.50
           17120525                            20070401                  3146.98
           17120500                            20070401                  3558.00
           17120501                            20070301                  2678.32
           17120502                            20070401                  2572.50
           17120503                            20070301                  2350.00
           17120504                            20070301                  2994.79
           17120505                            20070401                  2335.94
           17120506                            20070301                  2728.13
           17120507                            20070301                  4764.00
           17120508                            20070401                  3047.80
           17120509                            20070401                  2392.83
           17149110                            20070501                  2369.79
           17149111                            20070501                  3312.00
           17149112                            20070501                  4760.42
           17149113                            20070501                  4427.08
           17149103                            20070401                  2271.89
           17149105                            20070501                  3288.68
           17149106                            20070501                  2695.00
           17149107                            20070501                  2916.53
           17149108                            20070401                  3062.50
           17149109                            20070501                  2598.02
           17120450                            20070301                  2656.63
           17120451                            20070301                  3843.70
           17120452                            20070401                  2986.18
           17120453                            20070301                  2194.79
           17120454                            20070401                  2580.67
           17120456                            20070401                  2371.05
           17120457                            20070301                  2552.08
           17120458                            20070401                  3184.92
           17120459                            20070401                  3347.50
           17120460                            20070401                  3955.50
           17120461                            20070401                  5411.25
           17120462                            20070401                  3657.26
           17120463                            20070401                  2898.33
           17120464                            20070301                  2737.75
           17120465                            20070201                  4236.46
           17120466                            20070401                  2869.80
           17120467                            20070401                  4967.40
           17120468                            20070401                  3754.61
           17120469                            20070401                  8645.00
           17120470                            20070401                  3683.33
           17120471                            20070101                  3958.33
           17120472                            20070301                  2712.14
           17120473                            20070301                  2947.89
           17120474                            20070301                  3791.67
           17120476                            20070201                  3187.50
           17120478                            20070401                  4166.67
           17120479                            20070301                  2416.30
           17120480                            20070301                  5605.73
           17120481                            20070401                  2258.12
           17120482                            20070301                  2839.58
           17120483                            20070301                  2266.25
           17120484                            20070301                  2056.25
           17120485                            20070301                  4549.70
           17120486                            20070401                  2272.80
           17120487                            20070401                  2115.00
           17120488                            20070401                  2854.17
           17120489                            20070301                  3749.18
           17120491                            20070401                  4720.31
           17120492                            20070401                  1970.83
           17120493                            20070401                  3202.08
           17120494                            20070301                  2957.08
           17120495                            20070401                  3187.50
           17120496                            20070401                  2651.85
           17120499                            20070401                  4540.07
           17120429                            20070301                  3312.08
           17120430                            20070201                  8850.32
           17120431                            20070401                  2226.60
           17120432                            20070201                  3176.88
           17120433                            20070401                  2633.75
           17120434                            20070401                  2665.00
           17120436                            20070301                  3040.34
           17120437                            20070301                  2549.48
           17120438                            20070201                  2639.21
           17120440                            20070301                  4002.10
           17120441                            20070301                  2350.00
           17120442                            20070301                  3317.71
           17120443                            20070401                  4615.77
           17120444                            20070301                  2179.28
           17120445                            20070301                  4895.83
           17120446                            20070401                  5104.17
           17120447                            20070301                  2528.75
           17120448                            20070301                  3838.54
           17120449                            20070301                  3867.54
           17181086                            20070501                  2400.92
           17171924                            20070401                  8410.00
           17172078                            20070501                  3840.00
           17175048                            20070501                  5104.17
           17175049                            20070501                  2343.75
           17171987                            20070401                  2327.28
           17172020                            20070501                  5598.54
           17203440                            20070501                  5757.50
           17172004                            20070401                  3520.00
           17172023                            20070501                  2640.00
           17172005                            20070401                  3250.00
           17203443                            20070501                  6800.00
           17203445                            20070501                  4791.67
           17203409                            20070501                  2414.06
           17172044                            20070501                  3461.59
           17203427                            20070501                  6761.65
           17172008                            20070501                  2389.95
           17181117                            20070501                  4555.47
           17172064                            20070501                  2355.10
           17203267                            20070301                  2447.99
           17175071                            20070501                  3400.00
           17172065                            20070501                  2898.44
           17175054                            20070501                  2447.92
           17172048                            20070501                  3317.71
           17172049                            20070501                  2825.07
           17171951                            20070401                  3111.86
           17171995                            20070401                  2333.33
           17203410                            20070501                  6693.75
           17181120                            20070501                  5920.00
           17172112                            20070501                  2656.25
           17172014                            20070501                  2232.89
           17203451                            20070501                  3304.17
           17172051                            20070501                  2979.17
           17203255                            20070201                  5005.98
           17172053                            20070501                  4969.83
           17203437                            20070501                  1959.46
           17172036                            20070501                  5655.42
           17172136                            20070501                  2429.17
           17172073                            20070501                  2702.50
           17172055                            20070501                  2275.42
           17203294                            20070501                  3332.03
           17203278                            20070501                  2762.50
           17203359                            20070501                  2456.50
           17172039                            20070501                  3793.22
           17203396                            20070501                  2536.04
           17203423                            20070501                  2584.31
           17203388                            20070501                  3076.00
           17203364                            20070501                  5104.17
           17203354                            20070401                  4146.77
           17203317                            20070501                  2291.67
           17171965                            20070401                  3179.69
           17203331                            20070301                  2730.53
           17172132                            20070501                  4415.10
           17172133                            20070501                  2565.00
           17172127                            20070501                  3338.91
           17172130                            20070501                  2738.39
           17172104                            20070501                  2825.00
           17172114                            20070501                  2958.33
           17172125                            20070501                  3916.67
           17172126                            20070501                  2723.33
           17171998                            20070501                  2781.77
           17172001                            20070401                  1383.39
           17172002                            20070401                  2868.29
           17172010                            20070501                  2641.76
           17172022                            20070501                  2407.50
           17172033                            20070501                  2340.63
           17172041                            20070501                  2242.50
           17172057                            20070401                  2300.00
           17172061                            20070501                  2409.17
           17172068                            20070501                  2885.00
           17172074                            20070501                  2648.75
           17172084                            20070501                  2695.83
           17172086                            20070501                  1974.42
           17171926                            20070401                  5866.46
           17171946                            20070401                  2395.83
           17171952                            20070401                  2329.00
           17171957                            20070501                  2629.69
           17171960                            20070401                  2450.00
           17171979                            20070501                  2375.00
           17171980                            20070401                  3458.35
           17171983                            20070401                  2443.75
           17171990                            20070501                  2375.00
           17171992                            20070501                  2892.15
           17171922                            20070501                  2016.67
           17203303                            20070401                  3406.15
           17203452                            20070501                  2760.42
           17203340                            20070401                  2481.77
           17203351                            20070401                  2668.50
           17203283                            20070501                  3399.72
           17203252                            20070501                  3520.83
           17203412                            20070501                  2120.38
           17203321                            20070501                  3843.75
           17203385                            20070501                  1684.98
           17203392                            20070501                  3138.25
           17203401                            20070501                  3104.17
           17203435                            20070501                  2839.06
           17203383                            20070501                  1601.67
           17203323                            20061201                  8515.87
           17203449                            20070501                  2532.71
           17203328                            20070401                  3364.19
           17203339                            20070201                  2487.08
           17203315                            20070501                  2933.58
           17203257                            20070201                  3290.63
           17203295                            20070501                  2225.01
           17203290                            20070401                  3269.38
           17203299                            20070401                  3460.50
           17203424                            20070501                  1952.06
           17203379                            20070501                  2383.33
           17203256                            20070301                  2768.46
           17203422                            20070501                  2697.92
           17203253                            20070301                  2060.42
           17203312                            20070501                  2654.17
           17203293                            20070501                  2109.29
           17203418                            20070501                  3781.25
           17203314                            20070501                  2015.63
           17203448                            20070501                  2334.58
           17203384                            20070501                  2407.09
           17203281                            20070401                  8093.93
           17203348                            20070301                  1980.00
           17203390                            20070501                  2447.92
           17203310                            20070501                  2185.00
           17203363                            20070401                  2841.67
           17203425                            20070501                  2397.50
           17203373                            20070501                  2654.17
           17203266                            20070201                  2363.80
           17203358                            20070501                  2658.15
           17203429                            20070501                  2689.90
           17203371                            20070501                  2868.75
           17203337                            20070401                  2812.50
           17203421                            20070501                  2386.72
           17203430                            20070501                  4551.31
           17203247                            20070301                  3152.21
           17203320                            20070501                  3453.13
           17203405                            20070501                  3385.42
           17203270                            20070401                  1913.33
           17203362                            20070501                  2193.33
           17203361                            20070401                  2387.50
           17203272                            20070401                  2296.88
           17203350                            20070301                  4308.33
           17203403                            20070501                  2686.17
           17203301                            20070501                  2810.68
           17203349                            20070401                  2434.17
           17203338                            20070401                  2407.08
           17203345                            20070301                  3476.08
           17203307                            20070501                  4561.50
           17203357                            20070401                  2220.00
           17203442                            20070501                  4287.50
           17203277                            20070401                  3317.71
           17203280                            20070401                  2177.57
           17203344                            20070501                  2193.33
           17203381                            20070501                  2722.08
           17203436                            20070501                  2730.00
           17203333                            20070501                  3006.67
           17203316                            20070501                  3345.47
           17203305                            20070501                  2484.71
           17203292                            20070401                  3304.05
           17203419                            20070501                  2035.00
           17203433                            20070501                  2395.83
           17203438                            20070501                  2437.50
           17203284                            20070301                  5103.66
           17203275                            20070401                  3019.11
           17203411                            20070501                  3930.33
           17203324                            20070501                  2750.00
           17203408                            20070501                  2333.33
           17203300                            20070401                  2660.00
           17203273                            20070401                  2343.75
           17203446                            20070501                  3352.50
           17203415                            20070501                  2239.45
           17203389                            20070501                  3267.92
           17203398                            20070501                  2273.75
           17203274                            20070501                  5250.00
           17203318                            20070501                  3588.54
           17203391                            20070501                  3415.50
           17203399                            20070501                  2359.50
           17203450                            20070501                  3076.59
           17203447                            20070501                  2130.00
           17203453                            20070501                  2300.00
           17203428                            20070501                  3575.00
           17203313                            20070501                  4173.89
           17203431                            20070501                  3062.50
           17203417                            20070501                  2550.00
           17203343                            20070301                  2604.17
           17203360                            20070501                  2746.50
           17203416                            20070501                  2562.50
           17203406                            20070501                  2260.42
           17203367                            20070501                  2508.73
           17203380                            20070501                  1395.76
           17203286                            20070501                  4046.12
           17203330                            20070401                  3525.00
           17203249                            20070401                  1842.06
           17203342                            20070201                  2208.19
           17203346                            20070401                  2619.27
           17203264                            20070301                  2395.83
           17203322                            20070501                  1943.93
           17203397                            20070501                  2687.81
           17203407                            20070501                  2875.00
           17203336                            20070401                  2984.38
           17203374                            20070501                  2545.83
           17203329                            20070401                  5587.81
           17203327                            20070501                  2769.58
           17203369                            20070501                  1938.69
           17203335                            20070501                  2395.83
           17203291                            20070401                  3851.58
           17203289                            20070401                  4338.98
           17203372                            20070501                  2424.23
           17203296                            20070501                  7500.00
           17203254                            20070101                  2585.38
           17203444                            20070501                  2765.58
           17203365                            20070501                  2316.25
           17203259                            20070301                  2812.50
           17203366                            20070501                  4200.63
           17203353                            20070501                  3317.71
           17203285                            20070501                  3185.00
           17203352                            20070401                  2731.75
           17203306                            20070501                  2182.60
           17203414                            20070501                  5424.47
           17203393                            20070501                  2672.76
           17203382                            20070501                  2374.48
           17203302                            20070401                  3109.29
           17203356                            20070501                  4370.00
           17203387                            20070501                  3569.98
           17203377                            20070501                  2384.29
           17203308                            20070401                  2606.67
           17203276                            20070401                  2454.05
           17203288                            20070501                  2917.86
           17203378                            20070501                  1536.11
           17203376                            20070501                  2185.00
           17203370                            20070501                  2271.67
           17203248                            20070201                  3028.50
           17203341                            20070301                  2571.54
           17203334                            20070401                  2613.75
           17203395                            20070501                  2151.72
           17203332                            20070501                  2440.00
           17203309                            20070301                  3487.50
           17203375                            20070501                  3110.00
           17203279                            20070501                  2199.81
           17203386                            20070501                  2180.00
           17203311                            20070501                  2013.13
           17203420                            20070501                  4995.00
           17203402                            20070501                  4249.99
           17203439                            20070501                  3833.33
           17203297                            20070401                  2932.80
           17203282                            20070401                  3060.00
           17203368                            20070501                  2350.00
           17203394                            20070501                  2434.17
           17203400                            20070501                  2820.00
           17203355                            20070501                  2750.00
           17203404                            20070501                  2801.15
           17203426                            20070501                  3026.08
           17203298                            20070401                  2752.17
           17203304                            20070501                  2264.06
           17203434                            20070501                  2826.56
           17171962                            20070501                  3133.96
           17171963                            20070501                  2432.29
           17171966                            20070501                  2429.58
           17171967                            20070501                  3785.85
           17171968                            20070501                  2802.19
           17171969                            20070501                  3182.29
           17171970                            20070501                  2587.50
           17171971                            20070501                  2550.00
           17171973                            20070501                  2937.50
           17171974                            20070501                  3293.33
           17171978                            20070501                  2721.07
           17171982                            20070501                  3114.58
           17171985                            20070501                  2979.17
           17171986                            20070501                  2604.17
           17171988                            20070501                  2506.88
           17171989                            20070501                  2736.77
           17171991                            20070501                  2516.46
           17171993                            20070501                  3369.31
           17171996                            20070501                  3180.25
           17171999                            20070501                  2350.00
           17171950                            20070401                  2843.02
           17171955                            20070401                  3345.00
           17171916                            20070401                  2285.17
           17171917                            20070501                  5000.00
           17171918                            20070501                  3206.83
           17171919                            20070501                  5223.66
           17171920                            20070501                  2788.67
           17171921                            20070501                  2693.08
           17171923                            20070501                  2640.00
           17171925                            20070301                  5312.23
           17171927                            20070501                  2963.78
           17171933                            20070401                  2017.83
           17171935                            20070501                  4094.88
           17171937                            20070501                  2343.75
           17171939                            20070501                  5000.00
           17171945                            20070501                  2750.00
           17171949                            20070501                  2674.11
           17175070                            20070501                  2687.50
           17175072                            20070501                  2678.67
           17175056                            20070501                  2774.44
           17175057                            20070501                  5115.98
           17175059                            20070501                  4667.09
           17175060                            20070501                  3406.73
           17175061                            20070501                  6288.75
           17175062                            20070501                  3400.00
           17175063                            20070501                  4791.67
           17175064                            20070501                  2898.33
           17175065                            20070501                  2163.96
           17175066                            20070501                  2539.06
           17175067                            20070501                  2948.33
           17175068                            20070501                  2395.83
           17175069                            20070501                  2940.00
           17175031                            20070401                  2975.00
           17175032                            20070501                  2951.67
           17175034                            20070501                  3066.06
           17175035                            20070501                  2759.29
           17175036                            20070501                  2937.50
           17175037                            20070501                  3628.13
           17175040                            20070501                  3287.93
           17175041                            20070501                  2146.82
           17175042                            20070501                  2511.25
           17175043                            20070501                  2656.25
           17175045                            20070501                  2598.96
           17175046                            20070501                  5103.84
           17175047                            20070501                  3854.17
           17175050                            20070501                  2975.69
           17175051                            20070501                  2076.85
           17175052                            20070501                  2340.00
           17175053                            20070501                  3540.00
           17175024                            20061101                  3185.00
           17175025                            20070501                  2750.00
           17175026                            20070501                  3489.75
           17175027                            20070501                  3718.54
           17175028                            20070301                  3468.28
           17175029                            20070501                  1993.70
           17172120                            20070501                  3240.63
           17172121                            20070501                  3625.00
           17172122                            20070501                  2325.00
           17172123                            20070501                  3498.66
           17172124                            20070501                  2812.50
           17172128                            20070501                  2333.33
           17172129                            20070501                  3665.83
           17172131                            20070501                  3953.13
           17172134                            20070501                  2834.69
           17172135                            20070501                  6770.83
           17172137                            20070501                  2434.17
           17172138                            20070501                  2229.82
           17172139                            20070501                  2736.25
           17172100                            20070501                  2138.04
           17172101                            20070501                  2842.00
           17172102                            20070501                  1910.96
           17172103                            20070501                  3056.25
           17172105                            20070501                  3337.50
           17172106                            20070501                  5416.67
           17172107                            20070501                  2693.77
           17172108                            20070501                  2943.79
           17172109                            20070501                  2065.21
           17172110                            20070501                  2751.15
           17172111                            20070501                  2407.43
           17172113                            20070501                  4033.33
           17172115                            20070501                  5000.00
           17172116                            20070501                  3114.58
           17172117                            20070501                  2060.42
           17172119                            20070501                  2750.00
           17181161                            20070501                  2708.33
           17172090                            20070501                  3460.00
           17181162                            20070401                  2244.00
           17172091                            20070501                  2844.55
           17172092                            20070501                  3231.25
           17172093                            20070501                  5117.19
           17172094                            20070501                  2616.33
           17172095                            20070501                  2042.50
           17172097                            20070501                  2137.50
           17172098                            20070501                  2572.92
           17172099                            20070501                  2137.50
           17181150                            20070501                  2687.81
           17181151                            20070501                  2917.86
           17172080                            20070501                  3575.00
           17181152                            20070501                  2517.59
           17172081                            20070501                  2099.63
           17181153                            20070501                  2601.97
           17172082                            20070501                  2643.75
           17181154                            20070501                  2491.67
           17172083                            20070501                  3882.63
           17172085                            20070501                  3450.00
           17181158                            20070501                  2219.06
           17172087                            20070501                  2393.49
           17181159                            20070501                  3033.33
           17172088                            20070501                  2284.38
           17172089                            20070501                  2416.67
           17172060                            20070501                  2895.83
           17181132                            20070501                  2964.18
           17181133                            20070501                  3803.91
           17172062                            20070501                  2760.42
           17181134                            20070501                  2532.89
           17172063                            20070501                  2193.75
           17181135                            20070501                  3361.38
           17181136                            20070501                  2656.25
           17172066                            20070501                  3669.90
           17181138                            20070501                  2592.50
           17172067                            20070501                  4504.17
           17172069                            20070501                  2447.92
           17181140                            20070501                  2429.58
           17172070                            20070501                  2347.55
           17172071                            20070501                  3087.83
           17181143                            20070501                  4287.50
           17172072                            20070501                  3351.56
           17181145                            20070501                  2636.33
           17181146                            20070501                  3186.31
           17172075                            20070501                  3500.00
           17181147                            20070501                  2291.67
           17172076                            20070501                  5073.51
           17181148                            20070501                  2545.83
           17172077                            20070501                  3306.25
           17172079                            20070501                  2060.42
           17181130                            20070501                  3364.67
           17181131                            20070501                  4103.44
           17181121                            20070501                  6355.24
           17172050                            20070501                  2734.25
           17181122                            20070501                  2517.54
           17181123                            20070501                  2487.08
           17172052                            20070501                  2568.33
           17181124                            20070501                  2673.75
           17181125                            20070501                  2925.00
           17172054                            20070501                  3799.17
           17181126                            20070501                  4783.27
           17172056                            20070501                  2645.00
           17172059                            20070501                  3200.00
           17172047                            20070501                  3466.25
           17181119                            20070501                  3928.58
           17172021                            20070501                  4779.60
           17172024                            20070501                  3762.18
           17172025                            20070501                  3915.69
           17172026                            20070501                  3534.10
           17172027                            20070501                  2545.83
           17172028                            20070401                  3639.06
           17172029                            20070501                  3160.94
           17181100                            20070501                  2144.38
           17181101                            20070501                  4019.17
           17172030                            20070501                  2315.25
           17181102                            20070501                  2193.33
           17172031                            20070501                  3296.67
           17172032                            20070501                  5157.88
           17181104                            20070501                  3125.00
           17181105                            20070501                  2409.17
           17172034                            20070501                  2881.88
           17181106                            20070501                  2530.00
           17172035                            20070501                  2368.33
           17181107                            20070501                  2291.67
           17181108                            20070501                  2447.92
           17172037                            20070501                  3270.42
           17181109                            20070501                  2480.63
           17172038                            20070501                  2229.17
           17181110                            20070501                  4821.87
           17181111                            20070501                  4125.00
           17172040                            20070501                  3515.63
           17181112                            20070501                  3552.50
           17181113                            20070501                  1875.00
           17172042                            20070501                  2053.33
           17181114                            20070501                  3951.15
           17172043                            20070501                  3960.83
           17181115                            20070501                  2957.69
           17181116                            20070501                  3500.00
           17172045                            20070501                  2277.71
           17172046                            20070501                  2033.00
           17172017                            20070501                  2726.51
           17172018                            20070501                  3291.35
           17172019                            20070501                  2721.61
           17172000                            20070401                  3982.92
           17172006                            20070501                  2643.75
           17172007                            20070501                  6229.69
           17172009                            20070501                  3046.88
           17172011                            20070501                  4112.50
           17172013                            20070501                  2760.42
           17172015                            20070501                  2247.19
           17172016                            20070501                  2400.00
           17181088                            20070501                  2587.45
           17181090                            20070501                  2389.17
           17181092                            20070501                  2245.83
           17181093                            20070501                  3293.33
           17181094                            20070501                  3410.10
           17181095                            20070501                  2824.90
           17181096                            20070501                  2640.00
           17181097                            20070501                  2495.94
           17181099                            20070501                  2911.01
           17181082                            20070501                  2134.58
           17181083                            20070501                  2381.82
           17181084                            20070501                  2760.42
           17181085                            20070501                  2327.50
           17172140                            20070501                  2221.67
           17172141                            20070501                  3076.67
           17172142                            20070501                  2465.16
           17175038                            20070501                  3231.77
           17175039                            20070401                  3400.00
           17175044                            20070501                  2015.87
           17175073                            20070501                  3221.35
           17181098                            20070401                  2720.00
           17181103                            20070501                  2350.00
           17181118                            20070501                  3380.00
           17181128                            20070501                  2487.08
           17181129                            20070501                  2660.89
           17181137                            20070501                  3177.27
           17181139                            20070501                  2291.67
           17181144                            20070501                  4188.09
           17181149                            20070501                  5208.33
           17181155                            20070501                  6608.33
           17181156                            20070501                  2604.17
           17181157                            20070501                  2823.33
           17181160                            20070501                  2440.00
           17171928                            20070401                  2449.49
           17171929                            20070401                  3143.15
           17171930                            20070401                  3046.88
           17171931                            20070401                  2893.13
           17171932                            20070401                  3041.48
           17171934                            20070401                  2802.15
           17171936                            20070401                  2749.74
           17171938                            20070401                  2944.08
           17171940                            20070401                  2312.50
           17171941                            20070401                  2622.40
           17171942                            20070401                  7187.50
           17171943                            20070401                  3332.92
           17171944                            20070401                 11718.75
           17171947                            20070401                  3487.50
           17171948                            20070401                  2652.00
           17171953                            20070401                  2203.50
           17171954                            20070401                  2395.83
           17171956                            20070401                  2354.17
           17171958                            20070401                  2669.25
           17171959                            20070401                  3317.71
           17171961                            20070401                  4617.75
           17171964                            20070401                  3333.33
           17171975                            20070401                  2958.33
           17171976                            20070401                  2447.52
           17171977                            20070401                  4489.06
           17171981                            20070401                  3856.67
           17171984                            20070401                  1930.42
           17171994                            20070401                  3082.83
           17171997                            20070401                  2320.00
           17172003                            20070401                  3483.33
           17172058                            20070401                  2153.86
           17175030                            20070401                  2661.77
           17175033                            20070401                  2502.75
           17175055                            20070401                  2686.67
           17181087                            20070401                  3154.50
           17181089                            20070401                  2413.92
           17181091                            20070401                  2996.25
           17181127                            20070401                  3046.88
           17172118                            20070501                  3357.85
           17181142                            20070501                  7813.54

           LOAN_SEQ                           CURRENT_BALANCE                        LOAN_TO_VALUE
           17020574                              679999.59                             80.00
           17020737                              439000.00                             77.02
           17020575                              468750.00                             69.96
           17020498                              500000.00                             47.62
           17020499                              583256.60                             80.00
           17020820                              605000.00                             63.68
           17020821                              649924.22                             76.20
           17020660                              444000.00                             80.00
           17020822                              850000.00                             68.00
           17020661                              650000.00                             79.71
           17020823                              575000.00                             42.59
           17020662                              572000.00                             80.00
           17020824                              438820.61                             79.28
           17020663                              612365.98                             80.00
           17020825                              504200.00                             72.03
           17020664                              699599.51                             70.00
           17020826                              751200.00                             80.00
           17020665                              576200.00                             80.00
           17020827                              428000.00                             78.53
           17020828                              487318.04                             80.00
           17020667                              503900.00                             80.00
           17020829                              600000.00                             69.04
           17020668                              641250.00                             75.00
           17020669                              467003.00                             80.00
           17020830                              750000.00                             76.38
           17020831                              672000.00                             80.00
           17020670                              502278.00                             80.00
           17020832                              512999.99                             70.27
           17020833                              504000.00                             80.00
           17020671                              456000.00                             80.00
           17020834                              461300.00                             70.00
           17020672                              584000.00                             80.00
           17020835                              487294.21                             75.00
           17020673                              592943.58                             77.78
           17020836                              531000.00                             90.00
           17020674                              419000.00                             76.18
           17020837                              748000.00                             80.00
           17020675                              500000.00                             49.14
           17020838                              570000.00                             78.62
           17020676                              744840.00                             80.00
           17020839                              596500.00                             52.32
           17020677                              470000.00                             73.78
           17020678                              516000.00                             80.00
           17020679                              500000.00                             80.00
           17020840                              440000.00                             80.00
           17020841                              835000.00                             69.58
           17020842                              608000.00                             80.00
           17020680                              560000.00                             79.10
           17020843                              840000.00                             80.00
           17020681                              504000.00                             80.00
           17020844                              591200.00                             80.00
           17020682                              424000.00                             79.25
           17020845                              560000.00                             80.00
           17020683                              458997.66                             80.00
           17020846                             1000000.00                             76.92
           17020684                              791999.72                             68.87
           17020685                              420680.76                             80.00
           17020848                             1000000.00                             80.00
           17020686                              538710.41                             80.00
           17020849                             1039699.58                             80.00
           17020687                              427500.00                             80.00
           17020688                              564997.29                             80.00
           17020689                              479950.00                             79.99
           17020850                              505000.00                             56.11
           17020657                              720000.00                             79.56
           17020495                              475000.00                             28.79
           17020819                              447500.00                             68.85
           17020658                              437650.00                             79.99
           17020496                              750000.00                             21.43
           17020659                              622400.00                             80.00
           17020497                              559757.69                             78.86
           17020492                              590000.00                             69.41
           17020816                              636000.00                             77.56
           17020655                              500000.00                             74.52
           17020493                              586000.00                             62.67
           17020817                              655500.00                             69.00
           17020656                              536000.00                             80.00
           17020494                              575057.82                             73.67
           17020812                              527900.00                             79.98
           17020651                              431500.00                             79.99
           17020813                              715500.00                             76.94
           17020814                             1000000.00                             48.19
           17020652                              420000.00                             80.00
           17020490                              475000.00                             59.90
           17020491                              599624.10                             72.29
           17020815                              650000.00                             54.17
           17020654                              432000.00                             80.00
           17020500                              547310.27                             80.00
           17020501                              519999.83                             79.75
           17020502                              641973.18                             80.00
           17020503                              620000.00                             80.00
           17020504                              431200.00                             66.38
           17020505                             1000000.00                             71.43
           17020506                              498463.18                             78.74
           17020507                              490700.00                             70.00
           17020508                              505000.00                             56.11
           17020509                              582000.00                             80.00
           17020510                              640000.00                             77.11
           17020511                             1498244.98                             75.00
           17020512                              450000.00                             78.26
           17020513                              468500.00                             72.27
           17020514                              450408.00                             80.00
           17020515                              448000.00                             73.44
           17020516                              494000.00                             77.19
           17020517                              520945.81                             67.24
           17020518                              524800.00                             80.00
           17020519                              582000.00                             70.98
           17020520                              480600.00                             80.00
           17020521                              584000.00                             80.00
           17020522                              422000.00                             65.94
           17020523                              498534.61                             57.14
           17020524                              934249.36                             80.00
           17020525                              472499.76                             70.00
           17020526                              475000.00                             79.17
           17020527                              724999.18                             61.70
           17020528                              570000.00                             72.61
           17020529                              624680.00                             80.00
           17020530                              546600.00                             78.09
           17020531                              471500.00                             75.08
           17020532                              477492.49                             74.84
           17020533                              551999.82                             80.00
           17020534                              512622.82                             80.00
           17020535                              578174.63                             54.98
           17020536                              884812.95                             80.00
           17020537                              875000.00                             70.00
           17020538                             1900000.00                             69.09
           17020539                              840000.00                             70.59
           17020700                              536093.39                             71.53
           17020701                              424000.00                             80.00
           17020702                              536000.00                             80.00
           17020540                              583804.20                             55.71
           17020703                              650000.00                             78.08
           17020541                              608000.00                             75.53
           17020704                              449435.97                             75.00
           17020542                              526096.50                             70.29
           17020705                              460454.45                             36.12
           17020543                              468000.00                             80.00
           17020706                              650000.00                             79.79
           17020544                              479841.00                             80.00
           17020707                              680000.00                             80.00
           17020545                              880000.00                             80.00
           17020708                             1500000.00                             57.69
           17020546                              549865.18                             71.43
           17020547                             1000000.00                             74.07
           17020385                              520000.00                             80.00
           17020548                              468485.53                             71.21
           17020386                              564200.00                             79.99
           17020549                              644000.00                             67.79
           17020387                              760000.00                             79.98
           17020388                              524000.00                             80.00
           17020389                             1195360.00                             34.77
           17020710                              597422.24                             90.00
           17020711                              714425.95                             69.08
           17020550                              999999.47                             80.00
           17020712                              680000.00                             75.56
           17020551                              496000.00                             77.50
           17020713                              576383.46                             80.00
           17020714                              598744.12                             80.00
           17020552                              460000.00                             78.62
           17020715                              915800.00                             56.68
           17020553                              433000.00                             45.34
           17020391                              453881.00                             75.00
           17020392                              494394.60                             65.77
           17020554                              672000.00                             80.00
           17020716                              639839.05                             80.00
           17020717                              949960.05                             74.31
           17020555                              912000.00                             74.75
           17020393                              423975.00                             80.00
           17020718                              764860.00                             80.00
           17020556                              470000.00                             62.25
           17020394                              540000.00                             80.00
           17020395                              540000.00                             80.00
           17020557                              893076.00                             80.00
           17020719                             1400000.00                             66.67
           17020558                              478995.30                             80.00
           17020397                              650000.00                             77.38
           17020559                              664840.58                             73.08
           17020398                              637500.00                             75.00
           17020399                              475000.00                             67.38
           17020720                              455000.00                             65.47
           17020721                              620000.00                             80.00
           17020722                              436000.00                             80.00
           17020560                              427632.54                             80.00
           17020723                              650000.00                             76.47
           17020561                              473200.00                             70.00
           17020724                              725513.95                             61.87
           17020562                              636800.00                             80.00
           17020725                              432000.00                             80.00
           17020563                              426603.35                             76.79
           17020726                              735000.00                             77.37
           17020564                              461000.00                             62.30
           17020727                              619500.00                             68.83
           17020565                              588200.00                             80.00
           17020728                              650000.00                             74.29
           17020566                              479145.67                             80.00
           17020729                              634489.20                             80.00
           17020567                              665946.54                             80.00
           17020568                              956250.00                             75.00
           17020569                              423999.98                             80.00
           17020730                              805007.49                             80.00
           17020731                              458235.00                             80.00
           17020732                              591360.00                             80.00
           17020570                              577500.00                             70.00
           17020733                              600000.00                             80.00
           17020571                              620000.00                             80.00
           17020734                              520310.43                             80.00
           17020572                              514345.00                             80.00
           17020735                             2500000.00                             67.57
           17020573                              804998.86                             70.00
           17020736                              560000.00                             80.00
           17020487                             1296004.27                             37.14
           17020488                              610000.00                             77.71
           17020489                              472000.00                             80.00
           17020810                              535000.00                             73.79
           17020811                              464000.00                             80.00
           17020650                              480000.00                             80.00
           17020791                              645600.00                             80.00
           17020792                              424000.00                             80.00
           17020793                              513600.00                             80.00
           17020794                              670000.00                             50.95
           17020795                              471998.45                             80.00
           17020796                              944000.00                             78.67
           17020797                              536000.00                             80.00
           17020798                              600000.00                             80.00
           17020799                              752500.00                             55.74
           17020790                              602400.00                             80.00
           17020646                              477000.00                             55.92
           17020484                              520000.00                             78.79
           17020808                              535600.00                             80.00
           17020647                              465123.42                             80.00
           17020485                              591700.00                             80.00
           17020809                              496762.98                             66.40
           17020648                              999999.00                             73.29
           17020486                              480000.00                             80.00
           17020649                              777602.26                             60.00
           17020781                              478800.00                             80.00
           17020782                              615500.00                             72.41
           17020783                              504000.00                             80.00
           17020784                              512000.00                             80.00
           17020785                              472800.00                             80.00
           17020786                              605000.00                             72.37
           17020787                              539867.56                             62.07
           17020788                              521000.00                             77.19
           17020789                              559923.37                             80.00
           17020612                              576000.00                             80.00
           17020450                              450320.00                             80.00
           17020613                              736000.00                             80.00
           17020451                              650000.00                             72.22
           17020614                              575308.97                             76.93
           17020452                              485036.04                             80.00
           17020615                              587852.12                             72.81
           17020453                              565934.91                             80.00
           17020616                              583832.75                             80.00
           17020454                              550303.35                             80.00
           17020617                              648000.00                             80.00
           17020455                              450000.00                             63.38
           17020456                              951067.76                             32.67
           17020618                              592494.01                             90.00
           17020619                              457000.00                             80.00
           17020457                             1000000.00                             66.67
           17020458                              544873.21                             80.00
           17020459                              490000.00                             77.72
           17020620                              644384.00                             80.00
           17020621                              433199.73                             80.00
           17020622                              491900.00                             79.99
           17020460                              539010.49                             80.00
           17020623                              718428.47                             80.00
           17020461                              671918.79                             52.36
           17020624                              525000.00                             73.94
           17020462                              625000.00                             64.10
           17020625                              685000.00                             79.65
           17020463                              546185.00                             80.00
           17020626                              548000.00                             80.00
           17020464                              616850.00                             79.99
           17020627                              456000.00                             79.30
           17020465                              594000.00                             78.68
           17020628                              440000.00                             80.00
           17020466                             1349000.00                             79.35
           17020629                              640000.00                             73.99
           17020467                              480950.00                             78.84
           17020468                              597097.30                             70.00
           17020469                             1200000.00                             56.60
           17020630                              563587.00                             80.00
           17020631                              580000.00                             74.94
           17020632                             1032000.00                             80.00
           17020470                              525000.00                             77.78
           17020633                              540240.00                             80.00
           17020471                              600000.00                             80.00
           17020634                              840000.00                             80.00
           17020472                              450400.00                             80.00
           17020635                              630677.14                             80.00
           17020473                              472000.00                             80.00
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           17172034                              522000.00                             73.52
           17181106                              552000.00                             76.67
           17172035                              464000.00                             80.00
           17181107                              440000.00                             80.00
           17181108                              500000.00                             51.02
           17172037                              668000.00                             80.00
           17181109                              486000.00                             74.77
           17172038                              428000.00                             80.00
           17181110                              925799.00                             80.00
           17181111                              900000.00                             40.91
           17172040                              750000.00                             75.00
           17181112                              588000.00                             80.00
           17181113                              450000.00                             75.00
           17172042                              448000.00                             80.00
           17181114                              824588.00                             80.00
           17172043                              776000.00                             64.67
           17181115                              500000.00                             33.33
           17181116                              700000.00                             74.47
           17172045                              420500.00                             38.23
           17172046                              513600.00                             80.00
           17172017                              454759.00                             76.43
           17172018                              564000.00                             74.70
           17172019                              522550.00                             73.39
           17172000                              695200.00                             80.00
           17172006                              540000.00                             75.84
           17172007                             1329000.00                             61.81
           17172009                              650000.00                             65.00
           17172011                              840000.00                             80.00
           17172013                              500000.00                             80.00
           17172015                              459000.00                             56.74
           17172016                              512000.00                             80.00
           17181088                              528500.00                             80.00
           17181090                              488000.00                             80.00
           17181092                              440000.00                             76.23
           17181093                              608000.00                             80.00
           17181094                              606240.00                             80.00
           17181095                              577000.00                             66.74
           17181096                              576000.00                             76.80
           17181097                              489000.00                             69.86
           17181099                              649900.00                             42.20
           17181082                              436000.00                             80.00
           17181083                              486500.00                             70.00
           17181084                              500000.00                             62.11
           17181085                              456000.00                             80.00
           17172140                              426560.00                             80.00
           17172141                              568000.00                             80.00
           17172142                              503522.00                             80.00
           17175038                              620500.00                             62.05
           17175039                              640000.00                             80.00
           17175044                              509272.00                             79.28
           17175073                              618500.00                             74.97
           17181098                              512000.00                             80.00
           17181103                              480000.00                             80.00
           17181118                              676000.00                             80.00
           17181128                              508000.00                             80.00
           17181129                              543500.00                             73.45
           17181137                              650000.00                             53.06
           17181139                              550000.00                             66.27
           17181144                              708000.00                             69.41
           17181149                              999999.00                             64.94
           17181155                             1220000.00                             80.00
           17181156                              500000.00                             78.74
           17181157                              616000.00                             80.00
           17181160                              488000.00                             80.00
           17171928                              479900.00                             80.00
           17171929                              615800.00                             79.99
           17171930                              650000.00                             38.55
           17171931                              694350.00                             80.00
           17171932                              474580.92                             64.60
           17171934                              517320.00                             80.00
           17171936                              527950.00                             79.99
           17171938                              576800.00                             80.00
           17171940                              444000.00                             80.00
           17171941                              475000.00                             69.85
           17171942                             1500000.00                             76.92
           17171943                              799900.00                             80.00
           17171944                             2500000.00                             54.95
           17171947                              744000.00                             80.00
           17171948                              530400.00                             80.00
           17171953                              542400.00                             79.99
           17171954                              460000.00                             69.49
           17171956                              452000.00                             79.99
           17171958                              533850.00                             63.55
           17171959                              650000.00                             76.92
           17171961                              943200.00                             80.00
           17171964                              640000.00                             80.00
           17171975                              568000.00                             80.00
           17171976                              451850.00                             70.00
           17171977                              845000.00                             60.36
           17171981                              712000.00                             80.00
           17171984                              452000.00                             80.00
           17171994                              558400.00                             80.00
           17171997                              464000.00                             80.00
           17172003                              880000.00                             80.00
           17172058                              590772.00                             80.00
           17175030                              580750.00                             79.99
           17175033                              511200.00                             80.00
           17175055                              496000.00                             80.00
           17181087                              560800.00                             80.00
           17181089                              472932.00                             80.00
           17181091                              612000.00                             74.18
           17181127                              585000.00                             55.71
           17172118                              716342.29                             73.42
           17181142                             1666888.00                             59.53

           LOAN_SEQ          MI                                   MERS_ID1
           17020574         No MI                          '100070300004343999
           17020737         No MI                          '100015700071508408
           17020575         No MI                          '100156600000603669
           17020498         No MI                          '100137306120038794
           17020499         No MI                          '100057400003108992
           17020820         No MI                          '100133700019507691
           17020821         No MI                          '100133700019320764
           17020660         No MI                          '100169800000367514
           17020822         No MI                          '100133700016198866
           17020661         No MI                          '100047132260600147
           17020823         No MI                          '100133700019252272
           17020662         No MI                          '100178020060990845
           17020824         No MI                          '100133700019228801
           17020663         No MI                          '100047132260500438
           17020825         No MI                          '100133700019108243
           17020664         No MI                          '100140807005200008
           17020826         No MI                          '100133700018844608
           17020665         No MI                          '100059600058067658
           17020827         No MI                          '100133700019451403
           17020828         No MI                          '100133700017716153
           17020667         No MI                          '100306006120134123
           17020829         No MI                          '100133700019039851
           17020668         No MI                          '100141600000086301
           17020669         No MI                          '100047132261000859
           17020830         No MI                          '100133700019307456
           17020831         No MI                          '100133700018615768
           17020670         No MI                          '100047132261101053
           17020832         No MI                          '100133700019269441
           17020833         No MI                          '100133700017217178
           17020671         No MI                          '100073800000528318
           17020834         No MI                          '100133700018565716
           17020672         No MI                          '100039231513233555
           17020835         No MI                          '100133700018566193
           17020673         No MI                          '100072400305344726
           17020836         No MI                          '100133700019136301
           17020674         No MI                          '100285700000217462
           17020837         No MI                          '100133700019167322
           17020675         No MI                          '100066606041010086
           17020838         No MI                          '100133700019313231
           17020676         No MI                          '100256014000680983
           17020839         No MI                          '100133700019065179
           17020677         No MI                          '100134400610013897
           17020678         No MI                          '100134400030119886
           17020679         No MI                          '100134400030123250
           17020840         No MI                          '100015700068691233
           17020841         No MI                          '100133700016858774
           17020842         No MI                          '100133700019232829
           17020680         No MI                          '100134400030124068
           17020843         No MI                          '100133700019487480
           17020681         No MI                          '100071200000424372
           17020844         No MI                          '100133700019487944
           17020682         No MI                          '100109800000498155
           17020845         No MI                          '100133700019136814
           17020683         No MI                          '100378400000012785
           17020846         No MI                          '100133700019252678
           17020684         No MI                          '100076800000224162
           17020685         No MI                          '100071200000425486
           17020848         No MI                          '100133700019110421
           17020686         No MI                          '100146900008098935
           17020849         No MI                          '100133700019179087
           17020687         No MI                          '100146900008114161
           17020688         No MI                          '100031800630168841
           17020689         No MI                          '100132600000310843
           17020850         No MI                          '100133700018781016
           17020657         No MI                          '100098900061147973
           17020495         No MI                          '100163500319606158
           17020819         No MI                          '100133700019643744
           17020658         No MI                          '100047131461000222
           17020496         No MI                          '100178400022213280
           17020659         No MI                          '100076800000221796
           17020497         No MI                          '100366900070155038
           17020492         No MI                          '100146900008103057
           17020816         No MI                          '100133700019329757
           17020655         No MI                          '100039263120266934
           17020493         No MI                          '100196800050080535
           17020817         No MI                          '100015700076785241
           17020656         No MI                          '100113800000912019
           17020494         No MI                          '100052200003561843
           17020812         No MI                          '100133700019034175
           17020651         No MI                          '100059600090839734
           17020813         No MI                          '100133700019016636
           17020814         No MI                          '100133700018627219
           17020652         No MI                          '100155800000338669
           17020490         No MI                          '100154600000112093
           17020491         No MI                          '100109500400053309
           17020815         No MI                          '100015700076682323
           17020654         No MI                          '100098900061146504
           17020500         No MI                          '100088401473872045
           17020501         No MI                          '100270300000340997
           17020502         No MI                          '100424401473897177
           17020503         No MI                          '100057400003134113
           17020504         No MI                          '100254300000018734
           17020505         No MI                          '100053030010527449
           17020506         No MI                          '100134913100441436
           17020507         No MI                          '100418506120700067
           17020508         No MI                          '100141010601221283
           17020509         No MI                          '100146900008102091
           17020510         No MI                          '100364510010637532
           17020511         No MI                          '100079800614917422
           17020512         No MI                          '100031800620200240
           17020513         No MI                          '100063100081582553
           17020514         No MI                          '100066606121010303
           17020515         No MI                          '100015700076545462
           17020516         No MI                          '100094000000404736
           17020517         No MI                          '100030200000707198
           17020518         No MI                          '100218000000200168
           17020519         No MI                          '100357060002677392
           17020520         No MI                          '100057400002851261
           17020521         No MI                          '100115400061201077
           17020522         No MI                          '100172114745939701
           17020523         No MI                          '100063300020059990
           17020524         No MI                          '100063300009338662
           17020525         No MI                          '100053030010681600
           17020526         No MI                          '100015700076541784
           17020527         No MI                          '100094000000404066
           17020528         No MI                          '100015700076545405
           17020529         No MI                          '100082600000126033
           17020530         No MI                          '100030800600320522
           17020531         No MI                          '100205010000602672
           17020532         No MI                          '100182500061200892
           17020533         No MI                          '100023500000128868
           17020534         No MI                          '100015700076819222
           17020535         No MI                          '100364700000606056
           17020536         No MI                          '100082600000766713
           17020537         No MI                          '100015700076987862
           17020538         No MI                          '100149500055618051
           17020539         No MI                          '100115400061201242
           17020700         No MI                          '100146900009013057
           17020701         No MI                          '100138000530022246
           17020702         No MI                          '100138000530022949
           17020540         No MI                          '100183102000240599
           17020703         No MI                          '100070300004384464
           17020541         No MI                          '100415700000008377
           17020704         No MI                          '100268701485891376
           17020542         No MI                          '100224212345743867
           17020705         No MI                          '100124700070234657
           17020543         No MI                          '100283900000085420
           17020706         No MI                          '100124700070237221
           17020544         No MI                          '100146900008107215
           17020707         No MI                          '100133700016035936
           17020545         No MI                          '100045885010031937
           17020708         No MI                          '100133700019701203
           17020546         No MI                          '100155800000354617
           17020547         No MI                          '100047131161100603
           17020385         No MI                          '100133700017161335
           17020548         No MI                          '100130960000177978
           17020386         No MI                          '100082600000895686
           17020549         No MI                          '100177066200033260
           17020387         No MI                          '100082600000611679
           17020388         No MI                          '100133700019099319
           17020389         No MI                          '100015700066487014
           17020710         No MI                          '100015700073076487
           17020711         No MI                          '100133700018376650
           17020550         No MI                          '100063300009378379
           17020712         No MI                          '100133700018182421
           17020551         No MI                          '100039214587995853
           17020713         No MI                          '100133700017326276
           17020714         No MI                          '100015700074978434
           17020552         No MI                          '100132600000304747
           17020715         No MI                          '100015700073036754
           17020553         No MI                          '100140806353500001
           17020391         No MI                          '100020410001475941
           17020392         No MI                          '100027606010501832
           17020554         No MI                          '100039261409947885
           17020716         No MI                          '100133700017792667
           17020717         No MI                          '100015700074399805
           17020555         No MI                          '100015700076206842
           17020393         No MI                          '100047152160500015
           17020718         No MI                          '100015700074761103
           17020556         No MI                          '100137700000868587
           17020394         No MI                          '100201500022800696
           17020395         No MI                          '100459720060040323
           17020557         No MI                          '100057400002743237
           17020719         No MI                          '100133700017632756
           17020558         No MI                          '100196800030804764
           17020397         No MI                          '100253300000079869
           17020559         No MI                          '100259206120023162
           17020398         No MI                          '100197308010021457
           17020399         No MI                          '100133700019451775
           17020720         No MI                          '100133700018765951
           17020721         No MI                          '100133700018766009
           17020722         No MI                          '100133700017711949
           17020560         No MI                          '100369300061210545
           17020723         No MI                          '100133700018333065
           17020561         No MI                          '100015700076945555
           17020724         No MI                          '100015700077541932
           17020562         No MI                          '100057400003142355
           17020725         No MI                          '100015700075212338
           17020563         No MI                          '100031700003585565
           17020726         No MI                          '100133700017358741
           17020564         No MI                          '100196800030807403
           17020727         No MI                          '100133700017358717
           17020565         No MI                          '100132600000309498
           17020728         No MI                          '100015700074521366
           17020566         No MI                          '100109500400056443
           17020729         No MI                          '100133700017962229
           17020567         No MI                          '100031700003589146
           17020568         No MI                          '100407214767857703
           17020569         No MI                          '100376300032029785
           17020730         No MI                          '100015700073483832
           17020731         No MI                          '100133700017278543
           17020732         No MI                          '100133700018491574
           17020570         No MI                          '100221706120001287
           17020733         No MI                          '100015700075603296
           17020571         No MI                          '100059500700061267
           17020734         No MI                          '100133700018088073
           17020572         No MI                          '100082600000126223
           17020735         No MI                          '100015700076661418
           17020573         No MI                          '100076400000934520
           17020736         No MI                          '100133700017998454
           17020487         No MI                          '100138000340001158
           17020488         No MI                          '100109500400052947
           17020489         No MI                          '100137700000507367
           17020810         No MI                          '100133700019186439
           17020811         No MI                          '100133700019270993
           17020650         No MI                          '100155800000354682
           17020791         No MI                          '100015700077824072
           17020792         No MI                          '100133700017426720
           17020793         No MI                          '100133700018647316
           17020794         No MI                          '100133700019513095
           17020795         No MI                          '100133700019411456
           17020796         No MI                          '100133700019058141
           17020797         No MI                          '100133700018945546
           17020798         No MI                          '100133700019128522
           17020799         No MI                          '100133700018341688
           17020790         No MI                          '100133700017014955
           17020646         No MI                          '100173337340178545
           17020484         No MI                          '100015700075572483
           17020808         No MI                          '100133700018767627
           17020647         No MI                          '100015700076484191
           17020485         No MI                          '100084500000145918
           17020809         No MI                          '100133700018767601
           17020648         No MI                          '100047131360500157
           17020486         No MI                          '100137700000865484
           17020649         No MI                          '100306006120133034
           17020781         No MI                          '100133700019530081
           17020782         No MI                          '100015700077771208
           17020783         No MI                          '100015700076971338
           17020784         No MI                          '100015700074248036
           17020785         No MI                          '100133700018829484
           17020786         No MI                          '100133700018222805
           17020787         No MI                          '100133700019306219
           17020788         No MI                          '100015700076690615
           17020789         No MI                          '100015700076468376
           17020612         No MI                          '100146900008109542
           17020450         No MI                          '100057400002886846
           17020613         No MI                          '100146900008110185
           17020451         No MI                          '100424401470912144
           17020614         No MI                          '100146900008110953
           17020452         No MI                          '100057400003066240
           17020615         No MI                          '100015700076543228
           17020453         No MI                          '100027606072513758
           17020616         No MI                          '100109500400057409
           17020454         No MI                          '100184624161208023
           17020617         No MI                          '100155800000354732
           17020455         No MI                          '100015700076259577
           17020456         No MI                          '100364700000605751
           17020618         No MI                          '100097090612200033
           17020619         No MI                          '100047133661000044
           17020457         No MI                          '100230500010460581
           17020458         No MI                          '100120001000356296
           17020459         No MI                          '100109500400050743
           17020620         No MI                          '100027605051208042
           17020621         No MI                          '100027606011808491
           17020622         No MI                          '100027606071607932
           17020460         No MI                          '100015700072503390
           17020623         No MI                          '100352980000015037
           17020461         No MI                          '100273500612002144
           17020624         No MI                          '100053030010773142
           17020462         No MI                          '100109500400051410
           17020625         No MI                          '100098900061113447
           17020463         No MI                          '100057400002917807
           17020626         No MI                          '100039225402439984
           17020464         No MI                          '100063300009376670
           17020627         No MI                          '100053030010739739
           17020465         No MI                          '100230500010461746
           17020628         No MI                          '100141600000085444
           17020466         No MI                          '100015700076372149
           17020629         No MI                          '100073500011880084
           17020467         No MI                          '100471301000139832
           17020468         No MI                          '100063300009376738
           17020469         No MI                          '100091510100064431
           17020630         No MI                          '100082600001099866
           17020631         No MI                          '100047131161100025
           17020632         No MI                          '100031800110439092
           17020470         No MI                          '100070414061204000
           17020633         No MI                          '100197900001838640
           17020471         No MI                          '100015700076543822
           17020634         No MI                          '100019938910068426
           17020472         No MI                          '100450020040221872
           17020635         No MI                          '100420200000162160
           17020473         No MI                          '100059600056525657
           17020636         No MI                          '100313100061290456
           17020474         No MI                          '100063300020056426
           17020637         No MI                          '100059600086437691
           17020475         No MI                          '100015700076484118
           17020638         No MI                          '100027606080301956
           17020476         No MI                          '100088401472882482
           17020477         No MI                          '100134911100442743
           17020478         No MI                          '100137700000854751
           17020479         No MI                          '100030200000713964
           17020800         No MI                          '100133700018894223
           17020801         No MI                          '100133700018797004
           17020640         No MI                          '100031800440007700
           17020802         No MI                          '100133700018829500
           17020641         No MI                          '100060806120077024
           17020803         No MI                          '100133700019048357
           17020642         No MI                          '100134911100444764
           17020480         No MI                          '100060677002731917
           17020804         No MI                          '100015700076593371
           17020643         No MI                          '100079000000020598
           17020481         No MI                          '100082600000126017
           17020805         No MI                          '100133700019023095
           17020644         No MI                          '100082600001094016
           17020482         No MI                          '100134917100442823
           17020806         No MI                          '100133700018079254
           17020645         No MI                          '100098900061041002
           17020483         No MI                          '100127500000109087
           17020807         No MI                          '100133700018182355
           17020436         No MI                          '100258910060715213
           17020437         No MI                          '100057400003030485
           17020438         No MI                          '100192820060093199
           17020439         No MI                          '100057400002695411
           17020600         No MI                          '100065202900142144
           17020601         No MI                          '100137700000221399
           17020602         No MI                          '100197308010046991
           17020440         No MI                          '100108814686126601
           17020603         No MI                          '100057400003148030
           17020441         No MI                          '100245000026120298
           17020604         No MI                          '100015700076261136
           17020442         No MI                          '100015904000259907
           17020605         No MI                          '100084700000019028
           17020606         No MI                          '100115400061201598
           17020444         No MI                          '100127800005075964
           17020607         No MI                          '100039270980867164
           17020445         No MI                          '100164500001012078
           17020608         No MI                          '100030200025072404
           17020446         No MI                          '100057400002959841
           17020609         No MI                          '100039217396348776
           17020447         No MI                          '100063300020053332
           17020448         No MI                          '100057400003041813
           17020449         No MI                          '100126300000198169
           17020610         No MI                          '100015700076421953
           17020611         No MI                          '100405100000012259
           17020771         No MI                          '100133700018377138
           17020772         No MI                          '100133700019222440
           17020773         No MI                          '100015700076682422
           17020774         No MI                          '100133700019299786
           17020775         No MI                          '100133700019170391
           17020777         No MI                          '100015700069627343
           17020778         No MI                          '100133700018864200
           17020779         No MI                          '100133700018864267
           17020780         No MI                          '100133700019358541
           17020400         No MI                          '100015700066364445
           17020401         No MI                          '100015700067731139
           17020402         No MI                          '100015700074183050
           17020403         No MI                          '100015700070396854
           17020404         No MI                          '100015700070791575
           17020405         No MI                          '100133700019255952
           17020406         No MI                          '100015700073910156
           17020407         No MI                          '100015700076386909
           17020408         No MI                          '100133700017727580
           17020409         No MI                          '100133700018967805
           17020410         No MI                          '100015700070279704
           17020411         No MI                          '100015700071637272
           17020412         No MI                          '100133700019313751
           17020413         No MI                          '100133700018215346
           17020415         No MI                          '100015700071780106
           17020416         No MI                          '100015700071991257
           17020417         No MI                          '100133700018844418
           17020418         No MI                          '100133700018863277
           17020419         No MI                          '100133700019322083
           17020420         No MI                          '100133700018705536
           17020421         No MI                          '100133700017241210
           17020422         No MI                          '100133700019129793
           17020423         No MI                          '100245100000071309
           17020424         No MI                          '100189001000328558
           17020425         No MI                          '100148900000222069
           17020427         No MI                          '100197308010030854
           17020428         No MI                          '100467500006007580
           17020429         No MI                          '100045200000650904
           17020430         No MI                          '100015700076262514
           17020431         No MI                          '100161500610270037
           17020432         No MI                          '100059600072406668
           17020433         No MI                          '100424401463311148
           17020434         No MI                          '100230500010455706
           17020761         No MI                          '100015700077052294
           17020762         No MI                          '100133700019136517
           17020763         No MI                          '100133700018798887
           17020764         No MI                          '100133700019022535
           17020765         No MI                          '100133700018278583
           17020766         No MI                          '100133700019208134
           17020767         No MI                          '100133700018951098
           17020768         No MI                          '100133700019062416
           17020769         No MI                          '100133700019208944
           17020770         No MI                          '100133700018926785
           17020851         No MI                          '100133700019253361
           17020852         No MI                          '100133700018767742
           17020690         No MI                          '100047132261200327
           17020853         No MI                          '100015700074194800
           17020691         No MI                          '100047132260900752
           17020854         No MI                          '100133700019309288
           17020692         No MI                          '100195100000802885
           17020855         No MI                          '100133700019263568
           17020693         No MI                          '100141010601221861
           17020856         No MI                          '100015700076744941
           17020694         No MI                          '100074800270064506
           17020857         No MI                          '100015700077281125
           17020695         No MI                          '100285700000217249
           17020858         No MI                          '100015700077150445
           17020696         No MI                          '100253000000567570
           17020859         No MI                          '100133700019616302
           17020697         No MI                          '100098900061217438
           17020698         No MI                          '100315700000071020
           17020699         No MI                          '100070414061207003
           17020860         No MI                          '100133700019059883
           17020861         No MI                          '100133700018864317
           17020862         No MI                          '100133700019702631
           17020740         No MI                          '100133700017610000
           17020741         No MI                          '100133700019358186
           17020742         No MI                          '100015700076514203
           17020580         No MI                          '100031700003592850
           17020743         No MI                          '100133700018263072
           17020581         No MI                          '100173337340178677
           17020744         No MI                          '100133700018702848
           17020582         No MI                          '100132600000305462
           17020745         No MI                          '100133700018480239
           17020583         No MI                          '100114700000303095
           17020746         No MI                          '100015700074972940
           17020584         No MI                          '100059600087569674
           17020747         No MI                          '100015700074889334
           17020585         No MI                          '100497822061215005
           17020748         No MI                          '100015700077083596
           17020586         No MI                          '100467500006026085
           17020749         No MI                          '100133700018660384
           17020587         No MI                          '100079000000020085
           17020588         No MI                          '100463906120023870
           17020589         No MI                          '100224212345744683
           17020750         No MI                          '100133700018100852
           17020751         No MI                          '100133700017760607
           17020590         No MI                          '100027606121609367
           17020752         No MI                          '100133700018625049
           17020591         No MI                          '100115400061201192
           17020753         No MI                          '100015700074966322
           17020592         No MI                          '100132600000307302
           17020754         No MI                          '100133700017220404
           17020593         No MI                          '100347000000009597
           17020755         No MI                          '100133700018988520
           17020594         No MI                          '100205010000609982
           17020756         No MI                          '100133700016370697
           17020595         No MI                          '100166500004746571
           17020757         No MI                          '100015700076608641
           17020596         No MI                          '100057400003151943
           17020758         No MI                          '100015700072209717
           17020597         No MI                          '100057400002737403
           17020759         No MI                          '100133700017791263
           17020598         No MI                          '100015700076260237
           17020599         No MI                          '100364700000700024
           17020760         No MI                          '100133700019451577
           17020738         No MI                          '100015700075568903
           17020576         No MI                          '100031700003574148
           17020739         No MI                          '100133700018951312
           17020577         No MI                          '100196800030809656
           17020578         No MI                          '100027606062216255
           17020390         No MI                          '100200400000000461
           17149253         No MI                          '100133700020459981
           17129133         No MI                          '100133700018349806
           17120372         No MI                          '100133700018857972
           17120377         No MI                          '100133700019482275
           17120399         No MI                          '100133700019576365
           17129138         No MI                          '100133700019272171
           17120386         No MI                          '100133700020154913
           17120389         No MI                          '100133700019840761
           17120412         YES                            '100015700078684293
           17120421         No MI                          '100015700078231772
           17120390         No MI                          '100133700019958324
           17120391         No MI                          '100015700077978688
           17120392         No MI                          '100133700018785900
           17120393         No MI                          '100133700019337263
           17120394         No MI                          '100133700019988925
           17120395         No MI                          '100015700078461171
           17120397         No MI                          '100133700018165202
           17120398         No MI                          '100133700018041726
           17120385         No MI                          '100015700078632508
           17120387         No MI                          '100133700020359884
           17120388         No MI                          '100015700077175988
           17120384         No MI                          '100015700078518392
           17120330         No MI                          '100236900000067715
           17120331         No MI                          '100015700078015092
           17120332         No MI                          '100133700019181588
           17120333         No MI                          '100015700075628962
           17120334         No MI                          '100133700018520885
           17120335         No MI                          '100133700018455199
           17120336         No MI                          '100133700019449712
           17120337         No MI                          '100133700019183634
           17120338         No MI                          '100133700019481491
           17120339         No MI                          '100133700018768203
           17120341         No MI                          '100133700018290273
           17120342         No MI                          '100133700018658271
           17120343         No MI                          '100133700018970742
           17120344         No MI                          '100133700019471427
           17120346         No MI                          '100133700019101339
           17120347         No MI                          '100015700077145932
           17120348         No MI                          '100015700077334700
           17120349         No MI                          '100133700019334518
           17120350         No MI                          '100133700019240434
           17120351         No MI                          '100133700019029142
           17120353         No MI                          '100133700017470603
           17120354         No MI                          '100015700076347067
           17120355         No MI                          '100133700018727506
           17120356         No MI                          '100133700019542656
           17120357         No MI                          '100133700019575680
           17120358         No MI                          '100015700077175632
           17120359         No MI                          '100015700076347380
           17120360         No MI                          '100133700019854754
           17120361         No MI                          '100015700078024953
           17120362         No MI                          '100133700018826142
           17120363         No MI                          '100133700019038200
           17120364         No MI                          '100015700077269518
           17120365         No MI                          '100133700019921140
           17120366         No MI                          '100133700019788044
           17120367         No MI                          '100015700078025018
           17120370         No MI                          '100133700019492209
           17120371         No MI                          '100133700019866535
           17120373         No MI                          '100133700019906604
           17120374         No MI                          '100133700019573180
           17120375         No MI                          '100133700019779209
           17120376         No MI                          '100133700019787616
           17120378         No MI                          '100015700078208424
           17120379         No MI                          '100015700078107857
           17120380         No MI                          '100133700019439937
           17120381         No MI                          '100133700017976377
           17120382         No MI                          '100133700019726325
           17120383         No MI                          '100133700019953309
           17120327         No MI                          '100366900701554260
           17120328         No MI                          '100130960000175121
           17149240         No MI                          '100015700073910438
           17149241         No MI                          '100137700000870989
           17149242         No MI                          '100015700076158456
           17149243         No MI                          '100031800620203848
           17149244         No MI                          '100133700020359769
           17149245         No MI                          '100133700018786361
           17149246         No MI                          '100133700018215916
           17149247         No MI                          '100015700078551740
           17149248         No MI                          '100133700020150481
           17149249         No MI                          '100133700018041841
           17149250         No MI                          '100133700019387755
           17149251         No MI                          '100133700018933138
           17149252         No MI                          '100015700078984404
           17149100         No MI                          '100133700019749178
           17149101         No MI                          '100015700076983614
           17149102         No MI                          '100133700018740756
           17129130         No MI                          '100095303400508554
           17129131         No MI                          '100039267838287397
           17129132         No MI                          '100050500008794170
           17129134         No MI                          '100015700076546148
           17129135         No MI                          '100133700019298226
           17129136         No MI                          '100015700078324965
           17129137         No MI                          '100015700076822630
           17129139         No MI                          '100133700019707135
           17129140         No MI                          '100133700019473506
           17129141         No MI                          '100015700076969043
           17129142         No MI                          '100133700019526303
           17129144         No MI                          '100133700019816407
           17129145         No MI                          '100133700019906927
           17129127         No MI                          '100186192060500468
           17129128         No MI                          '100082600001083795
           17129129         No MI                          '100066607011013712
           17120410         No MI                          '100133700017931505
           17120411         No MI                          '100133700018328560
           17120413         No MI                          '100133700019959421
           17120414         No MI                          '100133700020092279
           17120415         No MI                          '100133700018737034
           17120416         No MI                          '100133700019453839
           17120417         No MI                          '100133700019029555
           17120418         No MI                          '100015700078527328
           17120419         No MI                          '100133700019906331
           17120420         No MI                          '100133700019714750
           17120422         No MI                          '100133700019980716
           17120423         No MI                          '100133700019538852
           17120424         No MI                          '100133700019543530
           17120425         No MI                          '100133700019714933
           17120426         No MI                          '100015700068354535
           17149077         No MI                          '100059600086617615
           17149078         No MI                          '100180720070206035
           17149079         No MI                          '100059600073202603
           17149080         No MI                          '100122500206120263
           17149081         No MI                          '100071907020127450
           17149082         No MI                          '100364510040703981
           17149083         No MI                          '100015700078318058
           17149084         No MI                          '100306300702079651
           17149086         No MI                          '100133700020055276
           17149087         No MI                          '100039610011027116
           17149088         No MI                          '100039610011162145
           17149089         No MI                          '100133700019568701
           17149090         No MI                          '100015700078399140
           17149091         No MI                          '100133700018076615
           17120401         No MI                          '100015700074375953
           17120402         No MI                          '100133700019981417
           17120403         No MI                          '100133700017241947
           17120404         No MI                          '100133700020095769
           17120405         No MI                          '100133700020026210
           17120406         No MI                          '100133700019656084
           17120407         No MI                          '100133700020049626
           17120408         No MI                          '100133700020267483
           17120409         No MI                          '100133700020267475
           17149092         No MI                          '100133700019234940
           17149093         No MI                          '100133700017507081
           17149094         No MI                          '100133700019539330
           17149095         No MI                          '100015700078385586
           17149096         No MI                          '100133700019800005
           17149097         No MI                          '100133700018931793
           17149098         No MI                          '100015700078204001
           17149099         No MI                          '100015700069414809
           17120498         No MI                          '100133700018485352
           17120455         No MI                          '100015700077389563
           17120477         No MI                          '100133700019488033
           17120490         No MI                          '100133700019120487
           17120532         PMI                            '100015700077715924
           17120544         No MI                          '100015700074978673
           17120540         No MI                          '100015700078188477
           17120541         No MI                          '100133700018768310
           17120542         No MI                          '100133700019481418
           17120543         No MI                          '100133700019124208
           17120545         No MI                          '100015700071560680
           17120546         No MI                          '100133700018165079
           17120547         No MI                          '100015700077786354
           17120548         No MI                          '100133700020018118
           17120549         No MI                          '100133700018015449
           17120550         No MI                          '100133700019734063
           17120551         No MI                          '100133700019898595
           17120552         No MI                          '100015700076853023
           17120553         No MI                          '100133700019038234
           17120554         No MI                          '100015700077860191
           17120555         No MI                          '100015700078312697
           17120556         No MI                          '100133700019975146
           17120557         No MI                          '100133700019734055
           17120558         No MI                          '100133700018931819
           17120559         No MI                          '100015700073592681
           17120560         No MI                          '100133700020018241
           17120561         No MI                          '100133700019488363
           17120562         No MI                          '100133700019864266
           17120563         No MI                          '100133700020051606
           17120564         No MI                          '100015700078171895
           17120565         No MI                          '100133700019656340
           17120566         No MI                          '100133700019337206
           17120567         No MI                          '100133700018858178
           17120568         No MI                          '100133700019734188
           17120569         No MI                          '100133700019717753
           17120570         No MI                          '100133700019974966
           17120571         No MI                          '100133700019829038
           17120572         No MI                          '100133700019533259
           17120573         No MI                          '100015700078352172
           17120574         No MI                          '100015700076229810
           17120575         No MI                          '100133700019963233
           17120576         No MI                          '100133700019990897
           17120526         No MI                          '100133700019312142
           17120527         No MI                          '100133700019842981
           17120528         No MI                          '100015700076563846
           17120529         No MI                          '100133700019429243
           17120530         No MI                          '100133700017135008
           17120531         No MI                          '100133700019127102
           17120533         No MI                          '100133700019550097
           17120534         No MI                          '100133700019388696
           17120535         No MI                          '100133700019767402
           17120536         No MI                          '100015700076818067
           17120537         No MI                          '100133700017570436
           17120538         No MI                          '100133700019842874
           17120539         No MI                          '100133700020067479
           17120510         No MI                          '100015700076818133
           17120511         No MI                          '100133700018785579
           17120512         No MI                          '100133700019339202
           17120513         No MI                          '100015700078070907
           17120514         No MI                          '100133700020092907
           17120515         No MI                          '100133700019850489
           17120516         No MI                          '100133700018566383
           17120517         No MI                          '100015700077706097
           17120518         No MI                          '100133700019675449
           17120519         No MI                          '100133700019272445
           17120520         No MI                          '100015700077844419
           17120521         No MI                          '100133700019374878
           17120522         No MI                          '100133700019568230
           17120523         No MI                          '100133700019562647
           17120524         No MI                          '100133700017189344
           17120525         No MI                          '100133700020126820
           17120500         No MI                          '100133700018704190
           17120501         No MI                          '100015700075643409
           17120502         No MI                          '100133700018648454
           17120503         No MI                          '100015700073657260
           17120504         No MI                          '100133700019530701
           17120505         United Guaranty                '100133700019072506
           17120506         No MI                          '100015700076966007
           17120507         No MI                          '100133700019395089
           17120508         No MI                          '100015700075395844
           17120509         No MI                          '100133700019386559
           17149110         No MI                          '100133700019750564
           17149111         No MI                          '100015700078035488
           17149112         No MI                          '100133700020227529
           17149113         No MI                          '100133700020242833
           17149103         No MI                          '100259000000059184
           17149105         No MI                          '100133700020226729
           17149106         No MI                          '100133700020056209
           17149107         No MI                          '100015700078855992
           17149108         No MI                          '100133700020067545
           17149109         No MI                          '100133700020063163
           17120450         No MI                          '100015700077026256
           17120451         No MI                          '100252300000997954
           17120452         No MI                          '100424401486317346
           17120453         No MI                          '100186141070100272
           17120454         No MI                          '100115400070101193
           17120456         No MI                          '100199600000143962
           17120457         No MI                          '100072400225314593
           17120458         No MI                          '100399307020009672
           17120459         No MI                          '100071200000428068
           17120460         No MI                          '100072400905100387
           17120461         No MI                          '100072400905100668
           17120462         No MI                          '100015700076190046
           17120463         No MI                          '100133700018779689
           17120464         No MI                          '100133700019109704
           17120465         No MI                          '100015700074444064
           17120466         No MI                          '100015700077461552
           17120467         No MI                          '100015700076968946
           17120468         No MI                          '100015700077592695
           17120469         No MI                          '100133700016937859
           17120470         No MI                          '100133700018566268
           17120471         No MI                          '100133700018264906
           17120472         No MI                          '100133700018654361
           17120473         No MI                          '100133700017807747
           17120474         No MI                          '100133700016669577
           17120476         No MI                          '100133700019174492
           17120478         No MI                          '100133700018786734
           17120479         No MI                          '100133700018966674
           17120480         No MI                          '100133700019041295
           17120481         No MI                          '100015700078023260
           17120482         No MI                          '100133700017644694
           17120483         No MI                          '100133700019530776
           17120484         No MI                          '100133700019567281
           17120485         No MI                          '100133700017820757
           17120486         No MI                          '100015700077394456
           17120487         No MI                          '100133700019924516
           17120488         No MI                          '100133700019655961
           17120489         No MI                          '100015700070620600
           17120491         No MI                          '100133700019120503
           17120492         No MI                          '100133700019008096
           17120493         No MI                          '100133700019590960
           17120494         No MI                          '100133700019232167
           17120495         No MI                          '100133700019843633
           17120496         No MI                          '100015700077812705
           17120499         No MI                          '100133700017982086
           17120429         Republic MIC                   '100015700061223620
           17120430         No MI                          '100015700072965003
           17120431         No MI                          '100015700078120686
           17120432         No MI                          '100140806341800000
           17120433         No MI                          '100134911100442883
           17120434         No MI                          '100140806344100002
           17120436         No MI                          '100133001000572954
           17120437         No MI                          '100134911100444053
           17120438         No MI                          '100478300004283144
           17120440         No MI                          '100276530611150047
           17120441         No MI                          '100072400305344866
           17120442         No MI                          '100100300000211178
           17120443         No MI                          '100015700077613723
           17120444         No MI                          '100134914120444988
           17120445         No MI                          '100137700000868322
           17120446         No MI                          '100125700006384641
           17120447         No MI                          '100276510701170089
           17120448         No MI                          '100358400070100399
           17120449         No MI                          '100140200060801805
           17181086         No MI                          '100039214775163991
           17171924         No MI                          '100249710290606642
           17172078         No MI                          '100133700020842806
           17175048         No MI                          '100133700020852912
           17175049         PMI                            '100015700078461551
           17171987         No MI                          '100015700078421423
           17172020         No MI                          '100133700020063023
           17203440         No MI                          '100015700076940192
           17172004         No MI                          '100047132270100708
           17172023         No MI                          '100133700019143752
           17172005         No MI                          '100061200006353080
           17203443         No MI                          '100015700079186959
           17203445         No MI                          '100133700020839455
           17203409         No MI                          '100015700071615971
           17172044         No MI                          '100133700020476597
           17203427         No MI                          '100015700079239535
           17172008         No MI                          '100133700019334211
           17181117         No MI                          '100133700020324672
           17172064         No MI                          '100133700020496587
           17203267         No MI                          '100127500000111711
           17175071         No MI                          '100133700019993818
           17172065         No MI                          '100133700019936213
           17175054         No MI                          '100071200000435147
           17172048         No MI                          '100133700020296524
           17172049         No MI                          '100133700020173400
           17171951         No MI                          '100164907020068546
           17171995         No MI                          '100318640020007017
           17203410         No MI                          '100133700020030030
           17181120         No MI                          '100133700019736837
           17172112         No MI                          '100133700020620285
           17172014         No MI                          '100133700019702151
           17203451         No MI                          '100133700020844349
           17172051         No MI                          '100015700079205262
           17203255         No MI                          '100015904000281224
           17172053         No MI                          '100133700019198632
           17203437         No MI                          '100015700078226566
           17172036         No MI                          '100133700019366494
           17172136         No MI                          '100015700079042533
           17172073         No MI                          '100133700019093684
           17172055         No MI                          '100301207022033067
           17203294         No MI                          '100015700079023491
           17203278         No MI                          '100444700000011392
           17203359         No MI                          '100015700078249477
           17172039         No MI                          '100133700020181247
           17203396         No MI                          '100133700020912716
           17203423         No MI                          '100015700078997125
           17203388         No MI                          '100015700079395311
           17203364         No MI                          '100133700018839376
           17203354         No MI                          '100133700019778987
           17203317         No MI                          '100268701496741099
           17171965         PMI                            '100290800000330134
           17203331         No MI                          '100133700018679418
           17172132         No MI                          '100133700019694911
           17172133         No MI                          '100133700020728179
           17172127         No MI                          '100133700020570415
           17172130         No MI                          '100133700020217876
           17172104         No MI                          '100133700020488105
           17172114         No MI                          '100133700020624527
           17172125         No MI                          '100015700079036238
           17172126         No MI                          '100133700020487750
           17171998         No MI                          '100146900009024351
           17172001         No MI                          '100015904000674071
           17172002         No MI                          '100047131261100321
           17172010         No MI                          '100015700077192546
           17172022         No MI                          '100133700020663772
           17172033         No MI                          '100133700020191931
           17172041         No MI                          '100133700020382076
           17172057         No MI                          '100015904000675805
           17172061         No MI                          '100073800000554371
           17172068         No MI                          '100133700020547405
           17172074         No MI                          '100133700019093734
           17172084         No MI                          '100015700079508467
           17172086         No MI                          '100133700019943524
           17171926         No MI                          '100053030010822139
           17171946         No MI                          '100036800800339797
           17171952         No MI                          '100059600071685601
           17171957         No MI                          '100196800030865807
           17171960         No MI                          '100229900597020019
           17171979         No MI                          '100053030011123602
           17171980         No MI                          '100059600095025685
           17171983         No MI                          '100109500400064405
           17171990         No MI                          '100146900009021415
           17171992         No MI                          '100308400000103738
           17171922         No MI                          '100224212345740277
           17203303         No MI                          '100115400060700590
           17203452         No MI                          '100133700021009082
           17203340         No MI                          '100133700019758617
           17203351         No MI                          '100133700019524076
           17203283         No MI                          '100057400003191261
           17203252         No MI                          '100133700020275940
           17203412         No MI                          '100133700020543958
           17203321         No MI                          '100187800103043267
           17203385         No MI                          '100015904000843205
           17203392         No MI                          '100133700020438886
           17203401         No MI                          '100015700077350433
           17203435         No MI                          '100133700020756204
           17203383         No MI                          '100015904000580070
           17203323         No MI                          '100015700072871532
           17203449         No MI                          '100015700079588238
           17203328         No MI                          '100133700018215494
           17203339         No MI                          '100015700075959649
           17203315         No MI                          '100115400070203031
           17203257         No MI                          '100063300009378411
           17203295         No MI                          '100057400002998153
           17203290         No MI                          '100059600068020606
           17203299         No MI                          '100194972107114328
           17203424         No MI                          '100133700019250540
           17203379         No MI                          '100015904000674030
           17203256         No MI                          '100053030010712132
           17203422         PMI                            '100133700020574219
           17203253         No MI                          '100224212345742901
           17203312         No MI                          '100463300070201274
           17203293         No MI                          '100059600094218687
           17203418         No MI                          '100015700079732885
           17203314         No MI                          '100059600066463683
           17203448         No MI                          '100133700020529965
           17203384         No MI                          '100047131170200212
           17203281         No MI                          '100236900000092341
           17203348         No MI                          '100015700077757298
           17203390         No MI                          '100133700020192061
           17203310         No MI                          '100137700000884667
           17203363         No MI                          '100133700019890733
           17203425         No MI                          '100133700020488501
           17203373         No MI                          '100133700020172519
           17203266         No MI                          '100050500008581189
           17203358         No MI                          '100133700020315183
           17203429         No MI                          '100015700076632898
           17203371         No MI                          '100133700019294662
           17203337         No MI                          '100015700078443971
           17203421         No MI                          '100015700078250681
           17203430         No MI                          '100015700078879794
           17203247         No MI                          '100276510412150115
           17203320         No MI                          '100155800000363576
           17203405         No MI                          '100133700020398403
           17203270         No MI                          '100059600090472676
           17203362         No MI                          '100133700020152594
           17203361         No MI                          '100015700078080260
           17203272         No MI                          '100196800050096689
           17203350         No MI                          '100133700019523250
           17203403         No MI                          '100133700018488844
           17203301         No MI                          '100194972107118402
           17203349         No MI                          '100133700019863235
           17203338         No MI                          '100015700074882909
           17203345         No MI                          '100133700019379729
           17203307         No MI                          '100059600095999608
           17203357         No MI                          '100015700077978266
           17203442         No MI                          '100133700020771195
           17203277         No MI                          '100137700000508449
           17203280         No MI                          '100039216200011224
           17203344         No MI                          '100015700077364335
           17203381         No MI                          '100293701597706156
           17203436         No MI                          '100133700020632033
           17203333         No MI                          '100133700020032838
           17203316         No MI                          '100049504915393377
           17203305         No MI                          '100208808000017339
           17203292         No MI                          '100039223050621839
           17203419         No MI                          '100015700079317604
           17203433         No MI                          '100133700020914258
           17203438         No MI                          '100133700020588490
           17203284         No MI                          '100045700889802146
           17203275         No MI                          '100053030010942671
           17203411         No MI                          '100133700020885433
           17203324         No MI                          '100015700073799021
           17203408         No MI                          '100133700020456110
           17203300         No MI                          '100352900000033921
           17203273         No MI                          '100039275419954590
           17203446         No MI                          '100133700020472653
           17203415         No MI                          '100133700019822520
           17203389         No MI                          '100133700020132513
           17203398         No MI                          '100133700015157996
           17203274         No MI                          '100424401486193416
           17203318         No MI                          '100108814970232909
           17203391         No MI                          '100133700019216483
           17203399         No MI                          '100133700019772469
           17203450         No MI                          '100015700079607277
           17203447         No MI                          '100015700079566804
           17203453         No MI                          '100133700020799576
           17203428         No MI                          '100133700019097925
           17203313         No MI                          '100095414958343409
           17203431         No MI                          '100133700019789802
           17203417         No MI                          '100133700020455427
           17203343         No MI                          '100015700071888990
           17203360         No MI                          '100133700020315134
           17203416         No MI                          '100133700020528579
           17203406         No MI                          '100133700018920911
           17203367         No MI                          '100133700020223981
           17203380         No MI                          '100015904000705305
           17203286         No MI                          '100015700078420854
           17203330         No MI                          '100133700018100878
           17203249         No MI                          '100082600000139515
           17203342         No MI                          '100133700018801996
           17203346         No MI                          '100133700019143414
           17203264         No MI                          '100183601481720078
           17203322         No MI                          '100047131170200170
           17203397         No MI                          '100133700020382100
           17203407         No MI                          '100015700079234106
           17203336         No MI                          '100133700019447146
           17203374         No MI                          '100047132270200599
           17203329         No MI                          '100133700018471865
           17203327         No MI                          '100015700079745234
           17203369         No MI                          '100133700020024108
           17203335         No MI                          '100133700019291692
           17203291         No MI                          '100053030011058543
           17203289         No MI                          '100059600089097641
           17203372         No MI                          '100133700020067362
           17203296         No MI                          '100290800000330605
           17203254         PMI                            '100098900061040939
           17203444         No MI                          '100015700079027849
           17203365         No MI                          '100133700018424625
           17203259         No MI                          '100537166200032877
           17203366         No MI                          '100133700018424740
           17203353         No MI                          '100015700077900765
           17203285         No MI                          '100141010700221077
           17203352         No MI                          '100133700019060519
           17203306         No MI                          '100245000027020901
           17203414         No MI                          '100133700020235183
           17203393         No MI                          '100133700020381664
           17203382         No MI                          '100047131361000140
           17203302         No MI                          '100027606073016710
           17203356         No MI                          '100133700019971764
           17203387         No MI                          '100133700020190933
           17203377         No MI                          '100062500080920210
           17203308         No MI                          '100045700889827234
           17203276         No MI                          '100143200003013549
           17203288         No MI                          '100185100703120074
           17203378         No MI                          '100015904000644736
           17203376         No MI                          '100146900009025598
           17203370         No MI                          '100133700020694322
           17203248         No MI                          '100015700062923392
           17203341         No MI                          '100015700077083208
           17203334         No MI                          '100133700018719842
           17203395         No MI                          '100015700079923443
           17203332         No MI                          '100133700019446916
           17203309         No MI                          '100190600007389039
           17203375         No MI                          '100093900000167467
           17203279         No MI                          '100057400003168731
           17203386         No MI                          '100306007030152338
           17203311         No MI                          '100059600091912639
           17203420         No MI                          '100133700020242973
           17203402         No MI                          '100133700020550565
           17203439         No MI                          '100133700020806868
           17203297         No MI                          '100039237596560509
           17203282         No MI                          '100137700000879568
           17203368         No MI                          '100015700078783715
           17203394         No MI                          '100015700079082760
           17203400         No MI                          '100133700020177179
           17203355         No MI                          '100133700020315811
           17203404         No MI                          '100133700019332595
           17203426         No MI                          '100133700019199168
           17203298         No MI                          '100059600073481629
           17203304         No MI                          '100015700078112717
           17203434         No MI                          '100133700020755743
           17171962         No MI                          '100161500702060031
           17171963         No MI                          '100208808000016174
           17171966         No MI                          '100424401491989469
           17171967         No MI                          '100444700000009826
           17171968         No MI                          '100015700078680622
           17171969         No MI                          '100236900000086913
           17171970         No MI                          '100015700078805831
           17171971         No MI                          '100115400070200698
           17171973         No MI                          '100229627070003002
           17171974         No MI                          '100473900010040308
           17171978         No MI                          '100280300000056682
           17171982         No MI                          '100245900000057335
           17171985         No MI                          '100115400070101896
           17171986         No MI                          '100291601495472459
           17171988         No MI                          '100063100083032557
           17171989         No MI                          '100140807036200001
           17171991         No MI                          '100057400003230176
           17171993         No MI                          '100072900000842320
           17171996         No MI                          '100027606101607951
           17171999         No MI                          '100146900009025085
           17171950         No MI                          '100165960672075201
           17171955         No MI                          '100138000010026618
           17171916         No MI                          '100015700069814677
           17171917         No MI                          '100133700018764020
           17171918         No MI                          '100015700072503655
           17171919         No MI                          '100015700079241036
           17171920         No MI                          '100133700019672792
           17171921         No MI                          '100015700072707108
           17171923         No MI                          '100113201473144919
           17171925         No MI                          '100039262452505935
           17171927         No MI                          '100197900001847666
           17171933         No MI                          '100424401486278621
           17171935         No MI                          '100120001000371964
           17171937         No MI                          '100113201487440121
           17171939         No MI                          '100254200000024957
           17171945         No MI                          '100230500010497401
           17171949         No MI                          '100140200060410037
           17175070         No MI                          '100133700020452085
           17175072         No MI                          '100133700020686815
           17175056         No MI                          '100047131170200238
           17175057         No MI                          '100047132270200029
           17175059         No MI                          '100015700079432650
           17175060         No MI                          '100015700079153546
           17175061         No MI                          '100133700019096000
           17175062         No MI                          '100015700077900831
           17175063         No MI                          '100133700019291551
           17175064         No MI                          '100133700020477819
           17175065         No MI                          '100133700020251727
           17175066         No MI                          '100015700079269094
           17175067         No MI                          '100133700020632231
           17175068         No MI                          '100133700020477439
           17175069         No MI                          '100133700020323450
           17175031         No MI                          '100053030011061000
           17175032         No MI                          '100253100000108019
           17175034         No MI                          '100032500070202576
           17175035         No MI                          '100039223564324987
           17175036         No MI                          '100076970000325242
           17175037         No MI                          '100326700940277320
           17175040         No MI                          '100039250545971966
           17175041         No MI                          '100027606082516148
           17175042         No MI                          '100055507030087957
           17175043         No MI                          '100197900001849282
           17175045         Republic MIC                   '100133700020403112
           17175046         No MI                          '100133700020145713
           17175047         No MI                          '100015700078624471
           17175050         No MI                          '100015700078369275
           17175051         No MI                          '100133700019250136
           17175052         No MI                          '100133700019706400
           17175053         No MI                          '100015700075381224
           17175024         No MI                          '100163177001491296
           17175025         No MI                          '100133700019384372
           17175026         No MI                          '100015700079418394
           17175027         No MI                          '100015700072503903
           17175028         No MI                          '100063300020072332
           17175029         No MI                          '100066607011014447
           17172120         No MI                          '100133700020386861
           17172121         No MI                          '100133700020444637
           17172122         No MI                          '100133700019943672
           17172123         No MI                          '100133700020435676
           17172124         No MI                          '100133700020662501
           17172128         No MI                          '100133700020478098
           17172129         No MI                          '100015700078969108
           17172131         No MI                          '100015700079153637
           17172134         No MI                          '100133700020633932
           17172135         No MI                          '100133700020456474
           17172137         No MI                          '100133700018424708
           17172138         No MI                          '100133700019882508
           17172139         No MI                          '100133700020722040
           17172100         No MI                          '100133700020650928
           17172101         No MI                          '100015700078364912
           17172102         No MI                          '100015700079282279
           17172103         No MI                          '100133700020053909
           17172105         No MI                          '100133700020541416
           17172106         No MI                          '100133700020477785
           17172107         No MI                          '100015700078226491
           17172108         No MI                          '100133700020544949
           17172109         No MI                          '100015700079250011
           17172110         No MI                          '100133700020591718
           17172111         No MI                          '100133700020402031
           17172113         No MI                          '100133700020560556
           17172115         No MI                          '100133700019936551
           17172116         No MI                          '100133700020622547
           17172117         No MI                          '100133700020455260
           17172119         No MI                          '100133700020243021
           17181161         No MI                          '100015700076821269
           17172090         No MI                          '100133700020494764
           17181162         No MI                          '100050500008677854
           17172091         No MI                          '100015700078661614
           17172092         No MI                          '100015700078552490
           17172093         No MI                          '100133700020463520
           17172094         No MI                          '100133700020386481
           17172095         No MI                          '100133700020479229
           17172097         No MI                          '100133700020242700
           17172098         No MI                          '100133700020494210
           17172099         No MI                          '100133700020243013
           17181150         No MI                          '100133700020686872
           17181151         No MI                          '100133700020784693
           17172080         No MI                          '100015700079153314
           17181152         No MI                          '100133700020451228
           17172081         No MI                          '100015700079153819
           17181153         No MI                          '100015700079239139
           17172082         No MI                          '100015700078579311
           17181154         No MI                          '100133700020706480
           17172083         No MI                          '100015700078752710
           17172085         No MI                          '100133700020214873
           17181158         Republic MIC                   '100015700079588378
           17172087         No MI                          '100133700019973125
           17181159         No MI                          '100133700020776772
           17172088         No MI                          '100015700078651243
           17172089         No MI                          '100015700078507312
           17172060         No MI                          '100071200000434140
           17181132         No MI                          '100047131361000165
           17181133         No MI                          '100072400305351960
           17172062         No MI                          '100133700018593882
           17181134         No MI                          '100133700017620959
           17172063         No MI                          '100133700019454191
           17181135         No MI                          '100015700078528177
           17181136         No MI                          '100133700019093726
           17172066         No MI                          '100015700079004749
           17181138         No MI                          '100015700079276909
           17172067         No MI                          '100133700014295516
           17172069         No MI                          '100015700078475825
           17181140         No MI                          '100133700020545896
           17172070         No MI                          '100015700079280463
           17172071         No MI                          '100133700019526667
           17181143         No MI                          '100133700020275809
           17172072         No MI                          '100015700078453665
           17181145         No MI                          '100133700020398841
           17181146         No MI                          '100133700020666759
           17172075         No MI                          '100133700020422526
           17181147         No MI                          '100015700079297749
           17172076         No MI                          '100133700020188408
           17181148         No MI                          '100133700020487578
           17172077         No MI                          '100133700020441120
           17172079         No MI                          '100015700078700834
           17181130         No MI                          '100047131261000398
           17181131         No MI                          '100047131170100081
           17181121         No MI                          '100133700020867027
           17172050         No MI                          '100133700018888399
           17181122         No MI                          '100133700020208339
           17181123         No MI                          '100015700079335366
           17172052         No MI                          '100133700019943144
           17181124         No MI                          '100015700078495880
           17181125         No MI                          '100015700078749112
           17172054         No MI                          '100015700079130239
           17181126         No MI                          '100027606050504944
           17172056         No MI                          '100098900070215647
           17172059         No MI                          '100073800000560261
           17172047         No MI                          '100133700019807265
           17181119         No MI                          '100015700077192405
           17172021         No MI                          '100015700077364442
           17172024         No MI                          '100133700020361740
           17172025         No MI                          '100133700018350663
           17172026         No MI                          '100015700077007868
           17172027         No MI                          '100133700020256924
           17172028         No MI                          '100133700019670259
           17172029         No MI                          '100133700019957193
           17181100         No MI                          '100039226903683609
           17181101         No MI                          '100331400002210698
           17172030         No MI                          '100015700079272742
           17181102         No MI                          '100070417070221006
           17172031         No MI                          '100133700019897951
           17172032         No MI                          '100133700019198608
           17181104         No MI                          '100039279342191411
           17181105         No MI                          '100133700020382407
           17172034         No MI                          '100133700017500649
           17181106         No MI                          '100133700019203564
           17172035         No MI                          '100015700076798376
           17181107         No MI                          '100133700019025058
           17181108         No MI                          '100133700019624298
           17172037         No MI                          '100133700018160302
           17181109         No MI                          '100133700020030865
           17172038         No MI                          '100133700018672199
           17181110         No MI                          '100015700077904049
           17181111         No MI                          '100133700016968656
           17172040         No MI                          '100133700020412105
           17181112         No MI                          '100133700019124224
           17181113         No MI                          '100133700019430993
           17172042         No MI                          '100015700079059859
           17181114         No MI                          '100015700077487946
           17172043         No MI                          '100015700079204760
           17181115         No MI                          '100133700018350556
           17181116         No MI                          '100133700019876559
           17172045         No MI                          '100133700018952278
           17172046         No MI                          '100133700019250441
           17172017         No MI                          '100133700018975964
           17172018         No MI                          '100133700020408970
           17172019         No MI                          '100133700019924169
           17172000         No MI                          '100073800000555980
           17172006         No MI                          '100015700074313699
           17172007         No MI                          '100133700020745934
           17172009         No MI                          '100133700019347023
           17172011         No MI                          '100133700018792732
           17172013         No MI                          '100015700075713129
           17172015         No MI                          '100133700019805228
           17172016         No MI                          '100133700019721102
           17181088         No MI                          '100059600089804681
           17181090         No MI                          '100161407000119396
           17181092         No MI                          '100079801210800228
           17181093         No MI                          '100015700078530819
           17181094         No MI                          '100057400003229913
           17181095         No MI                          '100157300000075971
           17181096         No MI                          '100417910000002266
           17181097         No MI                          '100039260827891519
           17181099         No MI                          '100053607030056853
           17181082         No MI                          '100133700018920572
           17181083         No MI                          '100463907030034023
           17181084         No MI                          '100104500000126377
           17181085         No MI                          '100166500004771595
           17172140         No MI                          '100133700020634377
           17172141         No MI                          '100133700020722487
           17172142         No MI                          '100015700079027195
           17175038         No MI                          '100140807053300007
           17175039         No MI                          '100072400905101112
           17175044         No MI                          '100133700018697089
           17175073         No MI                          '100133700019695413
           17181098         No MI                          '100072400905100809
           17181103         No MI                          '100146900009019674
           17181118         No MI                          '100015700078149065
           17181128         No MI                          '100071000100464611
           17181129         No MI                          '100072400305349428
           17181137         No MI                          '100133700020467901
           17181139         No MI                          '100015700079028169
           17181144         No MI                          '100133700020577717
           17181149         No MI                          '100133700020718592
           17181155         No MI                          '100015700073655868
           17181156         No MI                          '100133700020852524
           17181157         No MI                          '100133700020699818
           17181160         No MI                          '100133700020609148
           17171928         No MI                          '100109500400060114
           17171929         No MI                          '100082600000895975
           17171930         No MI                          '100283900000106424
           17171931         No MI                          '100063300020065732
           17171932         No MI                          '100207600000008173
           17171934         No MI                          '100085600024877006
           17171936         No MI                          '100059600091323662
           17171938         No MI                          '100015700077776223
           17171940         No MI                          '100470900000010553
           17171941         No MI                          '100039218573255131
           17171942         No MI                          '100463907020032789
           17171943         No MI                          '100059600092008668
           17171944         No MI                          '100071907010126264
           17171947         No MI                          '100059600091997614
           17171948         No MI                          '100256014000694240
           17171953         No MI                          '100071000100458787
           17171954         No MI                          '100082600001025564
           17171956         No MI                          '100059600090918694
           17171958         No MI                          '100146872149053352
           17171959         No MI                          '100137700000507516
           17171961         No MI                          '100134911100448609
           17171964         No MI                          '100115400070201621
           17171975         No MI                          '100059600093704612
           17171976         No MI                          '100039266985122365
           17171977         No MI                          '100039231922494756
           17171981         No MI                          '100070410702150016
           17171984         No MI                          '100146900008112298
           17171994         No MI                          '100067301000298505
           17171997         No MI                          '100019980310000013
           17172003         No MI                          '100047131170100313
           17172058         No MI                          '100015901033261538
           17175030         No MI                          '100059600093692650
           17175033         No MI                          '100509420070220011
           17175055         No MI                          '100183300000372004
           17181087         No MI                          '100164200000123808
           17181089         No MI                          '100062500080819784
           17181091         No MI                          '100053030011123610
           17181127         No MI                          '100285700000229459
           17172118         No MI                          '100133700020560937
           17181142         No MI                          '100133700020647627

           LOAN_SEQ                   MARGIN                            NEXT_RATE_ADJ_DATE1
           17020574                   2.250                                   20120201
           17020737                   2.250                                   20120201
           17020575                   2.250                                   20120201
           17020498                   2.250                                   20120101
           17020499                   2.250                                   20120201
           17020820                   2.250                                   20120201
           17020821                   2.250                                   20120201
           17020660                   2.250                                   20120201
           17020822                   2.250                                   20120201
           17020661                   2.250                                   20120101
           17020823                   2.250                                   20120201
           17020662                   2.250                                   20120201
           17020824                   2.250                                   20120201
           17020663                   2.250                                   20120101
           17020825                   2.250                                   20120101
           17020664                   2.250                                   20120201
           17020826                   2.250                                   20120201
           17020665                   2.250                                   20120201
           17020827                   2.250                                   20120201
           17020828                   2.250                                   20120201
           17020667                   2.250                                   20120101
           17020829                   2.250                                   20120201
           17020668                   2.250                                   20120101
           17020669                   2.250                                   20120101
           17020830                   2.250                                   20120201
           17020831                   2.250                                   20120201
           17020670                   2.250                                   20120101
           17020832                   2.250                                   20120201
           17020833                   2.250                                   20120201
           17020671                   2.250                                   20120201
           17020834                   2.250                                   20120201
           17020672                   2.250                                   20120201
           17020835                   2.250                                   20120201
           17020673                   2.250                                   20120101
           17020836                   2.750                                   20120101
           17020674                   2.250                                   20120101
           17020837                   2.250                                   20120201
           17020675                   2.250                                   20120201
           17020838                   2.250                                   20120201
           17020676                   2.250                                   20120201
           17020839                   2.250                                   20120201
           17020677                   2.750                                   20120101
           17020678                   2.750                                   20120101
           17020679                   2.750                                   20120101
           17020840                   2.250                                   20120201
           17020841                   2.250                                   20120201
           17020842                   2.250                                   20120201
           17020680                   2.750                                   20120101
           17020843                   2.250                                   20120201
           17020681                   2.250                                   20120101
           17020844                   2.250                                   20120201
           17020682                   2.250                                   20120101
           17020845                   2.250                                   20120201
           17020683                   2.250                                   20120201
           17020846                   2.250                                   20120201
           17020684                   2.250                                   20120201
           17020685                   2.250                                   20120101
           17020848                   2.250                                   20120201
           17020686                   2.250                                   20120201
           17020849                   2.250                                   20120201
           17020687                   2.250                                   20120201
           17020688                   2.250                                   20120101
           17020689                   2.250                                   20120201
           17020850                   2.250                                   20120201
           17020657                   2.250                                   20120101
           17020495                   2.250                                   20120101
           17020819                   2.250                                   20120201
           17020658                   2.250                                   20120101
           17020496                   2.250                                   20120201
           17020659                   2.250                                   20120201
           17020497                   2.250                                   20120101
           17020492                   2.250                                   20120101
           17020816                   2.250                                   20120201
           17020655                   2.250                                   20120101
           17020493                   2.250                                   20120101
           17020817                   2.250                                   20120201
           17020656                   2.250                                   20120101
           17020494                   2.250                                   20120101
           17020812                   2.250                                   20120101
           17020651                   2.250                                   20120201
           17020813                   2.250                                   20120201
           17020814                   2.250                                   20120201
           17020652                   2.250                                   20120201
           17020490                   2.250                                   20120101
           17020491                   2.250                                   20120101
           17020815                   2.250                                   20120201
           17020654                   2.250                                   20120101
           17020500                   2.250                                   20120201
           17020501                   2.250                                   20120101
           17020502                   2.250                                   20120101
           17020503                   2.250                                   20120101
           17020504                   2.250                                   20120101
           17020505                   2.250                                   20120101
           17020506                   2.250                                   20120101
           17020507                   2.250                                   20120101
           17020508                   2.250                                   20120201
           17020509                   2.250                                   20120101
           17020510                   2.250                                   20120101
           17020511                   2.250                                   20120101
           17020512                   2.250                                   20120101
           17020513                   2.250                                   20120101
           17020514                   2.250                                   20120101
           17020515                   2.250                                   20120201
           17020516                   2.250                                   20120101
           17020517                   2.250                                   20120201
           17020518                   2.250                                   20120101
           17020519                   2.250                                   20120101
           17020520                   2.250                                   20120101
           17020521                   2.250                                   20120101
           17020522                   2.250                                   20120101
           17020523                   2.250                                   20120101
           17020524                   2.250                                   20120101
           17020525                   2.250                                   20120201
           17020526                   2.250                                   20120201
           17020527                   2.250                                   20120101
           17020528                   2.250                                   20120201
           17020529                   2.250                                   20120101
           17020530                   2.250                                   20120201
           17020531                   2.250                                   20120101
           17020532                   2.250                                   20120101
           17020533                   2.250                                   20120101
           17020534                   2.250                                   20120201
           17020535                   2.250                                   20120101
           17020536                   2.250                                   20120101
           17020537                   2.250                                   20120201
           17020538                   2.250                                   20120101
           17020539                   2.250                                   20120101
           17020700                   2.250                                   20120201
           17020701                   2.250                                   20120201
           17020702                   2.250                                   20120201
           17020540                   2.250                                   20120201
           17020703                   2.250                                   20120201
           17020541                   2.250                                   20120201
           17020704                   2.250                                   20120201
           17020542                   2.250                                   20120201
           17020705                   2.250                                   20120101
           17020543                   2.250                                   20120101
           17020706                   2.250                                   20120101
           17020544                   2.250                                   20120101
           17020707                   2.250                                   20120201
           17020545                   2.250                                   20120101
           17020708                   2.250                                   20120201
           17020546                   2.250                                   20120201
           17020547                   2.250                                   20120101
           17020385                   2.250                                   20120201
           17020548                   2.250                                   20120101
           17020386                   2.250                                   20120201
           17020549                   2.250                                   20120101
           17020387                   2.250                                   20120101
           17020388                   2.250                                   20120201
           17020389                   2.250                                   20120101
           17020710                   2.750                                   20111101
           17020711                   2.250                                   20120201
           17020550                   2.250                                   20120101
           17020712                   2.250                                   20120201
           17020551                   2.250                                   20120101
           17020713                   2.250                                   20111101
           17020714                   2.250                                   20120201
           17020552                   2.250                                   20120101
           17020715                   2.250                                   20111101
           17020553                   2.250                                   20120101
           17020391                   2.250                                   20120101
           17020392                   2.250                                   20120101
           17020554                   2.250                                   20120201
           17020716                   2.250                                   20120201
           17020717                   2.250                                   20111101
           17020555                   2.250                                   20120101
           17020393                   2.250                                   20120201
           17020718                   2.250                                   20120201
           17020556                   2.250                                   20120101
           17020394                   2.250                                   20120101
           17020395                   2.250                                   20111101
           17020557                   2.250                                   20120101
           17020719                   2.250                                   20111101
           17020558                   2.250                                   20120201
           17020397                   2.250                                   20111101
           17020559                   2.250                                   20120101
           17020398                   2.250                                   20111101
           17020399                   2.250                                   20120201
           17020720                   2.250                                   20120201
           17020721                   2.250                                   20120201
           17020722                   2.250                                   20120201
           17020560                   2.250                                   20120201
           17020723                   2.250                                   20120201
           17020561                   2.250                                   20120201
           17020724                   2.250                                   20120201
           17020562                   2.250                                   20120101
           17020725                   2.250                                   20120101
           17020563                   2.250                                   20120101
           17020726                   2.250                                   20120201
           17020564                   2.250                                   20120201
           17020727                   2.250                                   20120201
           17020565                   2.250                                   20120201
           17020728                   2.250                                   20120201
           17020566                   2.250                                   20120201
           17020729                   2.250                                   20120101
           17020567                   2.250                                   20120101
           17020568                   2.250                                   20120101
           17020569                   2.250                                   20120101
           17020730                   2.250                                   20120201
           17020731                   2.250                                   20120201
           17020732                   2.250                                   20120201
           17020570                   2.250                                   20120201
           17020733                   2.250                                   20120101
           17020571                   2.250                                   20120101
           17020734                   2.250                                   20111201
           17020572                   2.250                                   20120101
           17020735                   2.250                                   20120201
           17020573                   2.250                                   20120201
           17020736                   2.250                                   20120201
           17020487                   2.250                                   20120101
           17020488                   2.250                                   20120101
           17020489                   2.250                                   20120101
           17020810                   2.250                                   20120101
           17020811                   2.250                                   20120201
           17020650                   2.250                                   20120201
           17020791                   2.250                                   20120201
           17020792                   2.250                                   20120201
           17020793                   2.250                                   20120201
           17020794                   2.250                                   20120201
           17020795                   2.250                                   20120201
           17020796                   2.250                                   20120201
           17020797                   2.250                                   20120101
           17020798                   2.250                                   20120201
           17020799                   2.250                                   20120201
           17020790                   2.250                                   20120201
           17020646                   2.250                                   20120201
           17020484                   2.250                                   20120101
           17020808                   2.250                                   20120201
           17020647                   2.250                                   20120101
           17020485                   2.250                                   20120101
           17020809                   2.250                                   20120201
           17020648                   2.250                                   20120101
           17020486                   2.250                                   20120101
           17020649                   2.250                                   20120101
           17020781                   2.250                                   20120201
           17020782                   2.250                                   20120201
           17020783                   2.250                                   20120201
           17020784                   2.250                                   20120201
           17020785                   2.250                                   20120201
           17020786                   2.250                                   20120201
           17020787                   2.250                                   20120201
           17020788                   2.250                                   20120101
           17020789                   2.250                                   20120201
           17020612                   2.250                                   20120101
           17020450                   2.250                                   20120101
           17020613                   2.250                                   20120101
           17020451                   2.250                                   20120101
           17020614                   2.250                                   20120101
           17020452                   2.250                                   20120101
           17020615                   2.250                                   20120201
           17020453                   2.250                                   20120101
           17020616                   2.250                                   20120101
           17020454                   2.250                                   20120101
           17020617                   2.250                                   20120201
           17020455                   2.250                                   20120101
           17020456                   2.250                                   20120101
           17020618                   2.875                                   20120101
           17020619                   2.250                                   20120101
           17020457                   2.250                                   20120101
           17020458                   2.250                                   20120201
           17020459                   2.250                                   20120101
           17020620                   2.250                                   20120101
           17020621                   2.250                                   20120101
           17020622                   2.250                                   20120101
           17020460                   2.250                                   20120101
           17020623                   2.250                                   20120201
           17020461                   2.250                                   20120101
           17020624                   2.250                                   20120201
           17020462                   2.250                                   20120101
           17020625                   2.250                                   20120101
           17020463                   2.250                                   20120101
           17020626                   2.250                                   20120201
           17020464                   2.250                                   20120101
           17020627                   2.250                                   20120101
           17020465                   2.250                                   20120101
           17020628                   2.250                                   20120101
           17020466                   2.250                                   20120101
           17020629                   2.250                                   20111101
           17020467                   2.250                                   20120201
           17020468                   2.250                                   20120101
           17020469                   2.250                                   20120101
           17020630                   2.250                                   20120101
           17020631                   2.250                                   20120101
           17020632                   2.250                                   20120101
           17020470                   2.250                                   20120101
           17020633                   2.250                                   20120201
           17020471                   2.250                                   20120101
           17020634                   2.250                                   20120201
           17020472                   2.250                                   20120101
           17020635                   2.250                                   20120201
           17020473                   2.250                                   20120101
           17020636                   2.250                                   20120201
           17020474                   2.250                                   20120101
           17020637                   2.250                                   20120201
           17020475                   2.250                                   20120101
           17020638                   2.250                                   20120101
           17020476                   2.250                                   20120201
           17020477                   2.250                                   20120101
           17020478                   2.250                                   20120101
           17020479                   2.250                                   20120101
           17020800                   2.250                                   20120101
           17020801                   2.250                                   20120101
           17020640                   2.250                                   20120201
           17020802                   2.250                                   20120101
           17020641                   2.250                                   20120101
           17020803                   2.250                                   20120201
           17020642                   2.250                                   20120201
           17020480                   2.250                                   20120201
           17020804                   2.250                                   20120201
           17020643                   2.250                                   20120101
           17020481                   2.250                                   20120101
           17020805                   2.250                                   20120101
           17020644                   2.250                                   20120201
           17020482                   2.250                                   20120101
           17020806                   2.250                                   20120201
           17020645                   2.250                                   20120101
           17020483                   2.250                                   20120101
           17020807                   2.250                                   20120201
           17020436                   2.250                                   20111201
           17020437                   2.250                                   20120101
           17020438                   2.250                                   20120101
           17020439                   2.250                                   20120101
           17020600                   2.250                                   20120101
           17020601                   2.250                                   20120201
           17020602                   2.250                                   20120201
           17020440                   2.875                                   20111201
           17020603                   2.250                                   20120101
           17020441                   2.250                                   20120201
           17020604                   2.250                                   20120201
           17020442                   2.250                                   20120101
           17020605                   2.250                                   20120201
           17020606                   2.250                                   20120101
           17020444                   2.250                                   20120101
           17020607                   2.250                                   20120101
           17020445                   2.750                                   20120101
           17020608                   2.250                                   20120101
           17020446                   2.250                                   20120101
           17020609                   2.250                                   20120101
           17020447                   2.250                                   20120101
           17020448                   2.250                                   20120101
           17020449                   2.250                                   20111201
           17020610                   2.250                                   20120201
           17020611                   2.250                                   20120101
           17020771                   2.250                                   20120201
           17020772                   2.250                                   20120201
           17020773                   2.250                                   20120201
           17020774                   2.250                                   20120201
           17020775                   2.250                                   20120201
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           17020778                   2.250                                   20120201
           17020779                   2.250                                   20120201
           17020780                   2.250                                   20120201
           17020400                   2.250                                   20111201
           17020401                   2.250                                   20111201
           17020402                   2.250                                   20120201
           17020403                   2.250                                   20120101
           17020404                   2.250                                   20111201
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           17020407                   2.250                                   20120201
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           17020411                   2.250                                   20120101
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           17020416                   2.250                                   20120101
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           17020418                   2.250                                   20120201
           17020419                   2.250                                   20120201
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           17020421                   2.250                                   20120201
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           17020423                   2.250                                   20111101
           17020424                   2.250                                   20111201
           17020425                   2.250                                   20111201
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           17020428                   2.250                                   20120101
           17020429                   2.250                                   20111201
           17020430                   2.250                                   20120101
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           17020432                   2.250                                   20120101
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           17020762                   2.250                                   20120201
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           17203295                   2.250                                   20120401
           17203290                   2.250                                   20120301
           17203299                   2.250                                   20120301
           17203424                   2.250                                   20120401
           17203379                   2.250                                   20120401
           17203256                   2.250                                   20120201
           17203422                   2.625                                   20120401
           17203253                   2.250                                   20120201
           17203312                   2.250                                   20120401
           17203293                   2.250                                   20120401
           17203418                   2.250                                   20120401
           17203314                   2.250                                   20120401
           17203448                   2.250                                   20120401
           17203384                   2.250                                   20120401
           17203281                   2.250                                   20120301
           17203348                   2.250                                   20120201
           17203390                   2.250                                   20120401
           17203310                   2.250                                   20120401
           17203363                   2.250                                   20120301
           17203425                   2.250                                   20120401
           17203373                   2.250                                   20120401
           17203266                   2.250                                   20120101
           17203358                   2.250                                   20120401
           17203429                   2.250                                   20120401
           17203371                   2.250                                   20120401
           17203337                   2.250                                   20120301
           17203421                   2.250                                   20120401
           17203430                   2.250                                   20120401
           17203247                   2.250                                   20120201
           17203320                   2.250                                   20120401
           17203405                   2.250                                   20120401
           17203270                   2.250                                   20120301
           17203362                   2.250                                   20120401
           17203361                   2.250                                   20120301
           17203272                   2.250                                   20120301
           17203350                   2.250                                   20120201
           17203403                   2.250                                   20120401
           17203301                   2.250                                   20120401
           17203349                   2.250                                   20120301
           17203338                   2.250                                   20120301
           17203345                   2.250                                   20120201
           17203307                   2.250                                   20120401
           17203357                   2.250                                   20120301
           17203442                   2.250                                   20120401
           17203277                   2.250                                   20120301
           17203280                   2.250                                   20120301
           17203344                   2.250                                   20120401
           17203381                   2.250                                   20120401
           17203436                   2.250                                   20120401
           17203333                   2.250                                   20120401
           17203316                   2.250                                   20120401
           17203305                   2.250                                   20120401
           17203292                   2.250                                   20120301
           17203419                   2.250                                   20120401
           17203433                   2.250                                   20120401
           17203438                   2.250                                   20120401
           17203284                   2.750                                   20120201
           17203275                   2.250                                   20120301
           17203411                   2.250                                   20120401
           17203324                   2.250                                   20120401
           17203408                   2.250                                   20120401
           17203300                   2.250                                   20120301
           17203273                   2.250                                   20120301
           17203446                   2.250                                   20120401
           17203415                   2.250                                   20120401
           17203389                   2.250                                   20120401
           17203398                   2.250                                   20120401
           17203274                   2.250                                   20120401
           17203318                   2.875                                   20120401
           17203391                   2.250                                   20120401
           17203399                   2.250                                   20120401
           17203450                   2.250                                   20120401
           17203447                   2.250                                   20120401
           17203453                   2.250                                   20120401
           17203428                   2.250                                   20120401
           17203313                   2.250                                   20120401
           17203431                   2.250                                   20120401
           17203417                   2.250                                   20120401
           17203343                   2.250                                   20120201
           17203360                   2.250                                   20120401
           17203416                   2.250                                   20120401
           17203406                   2.250                                   20120401
           17203367                   2.250                                   20120401
           17203380                   2.250                                   20120401
           17203286                   2.250                                   20120401
           17203330                   2.250                                   20120301
           17203249                   2.250                                   20120301
           17203342                   2.250                                   20120101
           17203346                   2.250                                   20120301
           17203264                   2.250                                   20120201
           17203322                   2.250                                   20120401
           17203397                   2.250                                   20120401
           17203407                   2.250                                   20120401
           17203336                   2.250                                   20120301
           17203374                   2.250                                   20120401
           17203329                   2.250                                   20120301
           17203327                   2.250                                   20120401
           17203369                   2.250                                   20120401
           17203335                   2.250                                   20120401
           17203291                   2.250                                   20120301
           17203289                   2.250                                   20120301
           17203372                   2.250                                   20120401
           17203296                   2.250                                   20120401
           17203254                   2.250                                   20111201
           17203444                   2.250                                   20120401
           17203365                   2.250                                   20120401
           17203259                   2.250                                   20120201
           17203366                   2.250                                   20120401
           17203353                   2.250                                   20120401
           17203285                   2.250                                   20120401
           17203352                   2.250                                   20120301
           17203306                   2.250                                   20120401
           17203414                   2.250                                   20120401
           17203393                   2.250                                   20120401
           17203382                   2.250                                   20120401
           17203302                   2.250                                   20120301
           17203356                   2.250                                   20120401
           17203387                   2.250                                   20120401
           17203377                   2.250                                   20120401
           17203308                   2.750                                   20120301
           17203276                   2.250                                   20120301
           17203288                   2.250                                   20120401
           17203378                   2.250                                   20120401
           17203376                   2.250                                   20120401
           17203370                   2.250                                   20120401
           17203248                   2.250                                   20120101
           17203341                   2.250                                   20120201
           17203334                   2.250                                   20120301
           17203395                   2.250                                   20120401
           17203332                   2.250                                   20120401
           17203309                   2.250                                   20120201
           17203375                   2.250                                   20120401
           17203279                   2.250                                   20120401
           17203386                   2.250                                   20120401
           17203311                   2.250                                   20120401
           17203420                   2.250                                   20120401
           17203402                   2.250                                   20120401
           17203439                   2.250                                   20120401
           17203297                   2.250                                   20120301
           17203282                   2.250                                   20120301
           17203368                   2.250                                   20120401
           17203394                   2.250                                   20120401
           17203400                   2.250                                   20120401
           17203355                   2.250                                   20120401
           17203404                   2.250                                   20120401
           17203426                   2.250                                   20120401
           17203298                   2.250                                   20120301
           17203304                   2.250                                   20120401
           17203434                   2.250                                   20120401
           17171962                   2.250                                   20120401
           17171963                   2.250                                   20120401
           17171966                   2.250                                   20120401
           17171967                   2.250                                   20120401
           17171968                   2.250                                   20120401
           17171969                   2.250                                   20120401
           17171970                   2.250                                   20120401
           17171971                   2.250                                   20120401
           17171973                   2.250                                   20120401
           17171974                   2.250                                   20120401
           17171978                   2.250                                   20120401
           17171982                   2.250                                   20120401
           17171985                   2.250                                   20120401
           17171986                   2.250                                   20120401
           17171988                   2.250                                   20120401
           17171989                   2.250                                   20120401
           17171991                   2.250                                   20120401
           17171993                   2.250                                   20120401
           17171996                   2.250                                   20120401
           17171999                   2.250                                   20120401
           17171950                   2.250                                   20120301
           17171955                   2.250                                   20120301
           17171916                   2.250                                   20120301
           17171917                   2.250                                   20120401
           17171918                   2.250                                   20120401
           17171919                   2.250                                   20120401
           17171920                   2.250                                   20120401
           17171921                   2.250                                   20120401
           17171923                   2.250                                   20120401
           17171925                   2.250                                   20120201
           17171927                   2.250                                   20120401
           17171933                   2.250                                   20120301
           17171935                   2.250                                   20120401
           17171937                   2.250                                   20120401
           17171939                   2.250                                   20120401
           17171945                   2.250                                   20120401
           17171949                   2.250                                   20120401
           17175070                   2.250                                   20120401
           17175072                   2.250                                   20120401
           17175056                   2.250                                   20120401
           17175057                   2.250                                   20120401
           17175059                   2.250                                   20120401
           17175060                   2.250                                   20120401
           17175061                   2.250                                   20120401
           17175062                   2.250                                   20120401
           17175063                   2.250                                   20120401
           17175064                   2.250                                   20120401
           17175065                   2.250                                   20120401
           17175066                   2.250                                   20120401
           17175067                   2.250                                   20120401
           17175068                   2.250                                   20120401
           17175069                   2.250                                   20120401
           17175031                   2.250                                   20120301
           17175032                   2.250                                   20120401
           17175034                   2.250                                   20120401
           17175035                   2.250                                   20120401
           17175036                   2.250                                   20120401
           17175037                   2.250                                   20120401
           17175040                   2.250                                   20120401
           17175041                   2.250                                   20120401
           17175042                   2.250                                   20120401
           17175043                   2.250                                   20120401
           17175045                   2.250                                   20120401
           17175046                   2.250                                   20120401
           17175047                   2.250                                   20120401
           17175050                   2.250                                   20120401
           17175051                   2.250                                   20120401
           17175052                   2.250                                   20120401
           17175053                   2.250                                   20120401
           17175024                   3.250                                   20111001
           17175025                   2.250                                   20120401
           17175026                   2.250                                   20120401
           17175027                   2.250                                   20120401
           17175028                   2.250                                   20120201
           17175029                   2.250                                   20120401
           17172120                   2.250                                   20120401
           17172121                   2.250                                   20120401
           17172122                   2.250                                   20120401
           17172123                   2.250                                   20120401
           17172124                   2.250                                   20120401
           17172128                   2.250                                   20120401
           17172129                   2.250                                   20120401
           17172131                   2.250                                   20120401
           17172134                   2.250                                   20120401
           17172135                   2.250                                   20120401
           17172137                   2.250                                   20120401
           17172138                   2.250                                   20120401
           17172139                   2.250                                   20120401
           17172100                   2.250                                   20120401
           17172101                   2.250                                   20120401
           17172102                   2.250                                   20120401
           17172103                   2.250                                   20120401
           17172105                   2.250                                   20120401
           17172106                   2.250                                   20120401
           17172107                   2.250                                   20120401
           17172108                   2.250                                   20120401
           17172109                   2.250                                   20120401
           17172110                   2.250                                   20120401
           17172111                   2.250                                   20120401
           17172113                   2.250                                   20120401
           17172115                   2.250                                   20120401
           17172116                   2.250                                   20120401
           17172117                   2.250                                   20120401
           17172119                   2.250                                   20120401
           17181161                   2.250                                   20120401
           17172090                   2.250                                   20120401
           17181162                   2.250                                   20120301
           17172091                   2.250                                   20120401
           17172092                   2.250                                   20120401
           17172093                   2.250                                   20120401
           17172094                   2.250                                   20120401
           17172095                   2.250                                   20120401
           17172097                   2.250                                   20120401
           17172098                   2.250                                   20120401
           17172099                   2.250                                   20120401
           17181150                   2.250                                   20120401
           17181151                   2.250                                   20120401
           17172080                   2.250                                   20120401
           17181152                   2.250                                   20120401
           17172081                   2.250                                   20120401
           17181153                   2.250                                   20120401
           17172082                   2.250                                   20120401
           17181154                   2.250                                   20120401
           17172083                   2.250                                   20120401
           17172085                   2.250                                   20120401
           17181158                   2.250                                   20120401
           17172087                   2.250                                   20120401
           17181159                   2.250                                   20120401
           17172088                   2.250                                   20120401
           17172089                   2.250                                   20120401
           17172060                   2.250                                   20120401
           17181132                   2.250                                   20120401
           17181133                   2.250                                   20120401
           17172062                   2.250                                   20120401
           17181134                   2.250                                   20120401
           17172063                   2.250                                   20120401
           17181135                   2.250                                   20120401
           17181136                   2.250                                   20120401
           17172066                   2.250                                   20120401
           17181138                   2.250                                   20120401
           17172067                   2.250                                   20120401
           17172069                   2.250                                   20120401
           17181140                   2.250                                   20120401
           17172070                   2.250                                   20120401
           17172071                   2.250                                   20120401
           17181143                   2.250                                   20120401
           17172072                   2.250                                   20120401
           17181145                   2.250                                   20120401
           17181146                   2.250                                   20120401
           17172075                   2.250                                   20120401
           17181147                   2.250                                   20120401
           17172076                   2.250                                   20120401
           17181148                   2.250                                   20120401
           17172077                   2.250                                   20120401
           17172079                   2.250                                   20120401
           17181130                   2.250                                   20120401
           17181131                   2.250                                   20120401
           17181121                   2.250                                   20120401
           17172050                   2.250                                   20120401
           17181122                   2.250                                   20120401
           17181123                   2.250                                   20120401
           17172052                   2.250                                   20120401
           17181124                   2.250                                   20120401
           17181125                   2.250                                   20120401
           17172054                   2.250                                   20120401
           17181126                   2.250                                   20120401
           17172056                   2.250                                   20120401
           17172059                   2.250                                   20120401
           17172047                   2.250                                   20120401
           17181119                   2.250                                   20120401
           17172021                   2.250                                   20120401
           17172024                   2.250                                   20120401
           17172025                   2.250                                   20120401
           17172026                   2.250                                   20120401
           17172027                   2.250                                   20120401
           17172028                   2.250                                   20120301
           17172029                   2.250                                   20120401
           17181100                   2.250                                   20120401
           17181101                   2.250                                   20120401
           17172030                   2.250                                   20120401
           17181102                   2.250                                   20120401
           17172031                   2.250                                   20120401
           17172032                   2.250                                   20120401
           17181104                   2.250                                   20120401
           17181105                   2.250                                   20120401
           17172034                   2.250                                   20120401
           17181106                   2.250                                   20120401
           17172035                   2.250                                   20120401
           17181107                   2.250                                   20120401
           17181108                   2.250                                   20120401
           17172037                   2.250                                   20120401
           17181109                   2.250                                   20120401
           17172038                   2.250                                   20120401
           17181110                   2.250                                   20120401
           17181111                   2.250                                   20120401
           17172040                   2.250                                   20120401
           17181112                   2.250                                   20120401
           17181113                   2.250                                   20120401
           17172042                   2.250                                   20120401
           17181114                   2.250                                   20120401
           17172043                   2.250                                   20120401
           17181115                   2.250                                   20120401
           17181116                   2.250                                   20120401
           17172045                   2.250                                   20120401
           17172046                   2.250                                   20120401
           17172017                   2.250                                   20120401
           17172018                   2.250                                   20120401
           17172019                   2.250                                   20120401
           17172000                   3.250                                   20120301
           17172006                   2.250                                   20120401
           17172007                   2.250                                   20120401
           17172009                   2.250                                   20120401
           17172011                   2.250                                   20120401
           17172013                   2.250                                   20120401
           17172015                   2.250                                   20120401
           17172016                   2.250                                   20120401
           17181088                   2.250                                   20120401
           17181090                   2.250                                   20120401
           17181092                   2.250                                   20120401
           17181093                   2.250                                   20120401
           17181094                   2.250                                   20120401
           17181095                   2.250                                   20120401
           17181096                   2.250                                   20120401
           17181097                   2.250                                   20120401
           17181099                   2.250                                   20120401
           17181082                   2.250                                   20120401
           17181083                   2.250                                   20120401
           17181084                   2.250                                   20120401
           17181085                   2.250                                   20120401
           17172140                   2.250                                   20120401
           17172141                   2.250                                   20120401
           17172142                   2.250                                   20120401
           17175038                   2.250                                   20120401
           17175039                   2.250                                   20120301
           17175044                   2.250                                   20120401
           17175073                   2.250                                   20120401
           17181098                   2.250                                   20120301
           17181103                   2.250                                   20120401
           17181118                   2.250                                   20120401
           17181128                   2.250                                   20120401
           17181129                   2.250                                   20120401
           17181137                   2.250                                   20120401
           17181139                   2.250                                   20120401
           17181144                   2.250                                   20120401
           17181149                   2.250                                   20120401
           17181155                   2.250                                   20120401
           17181156                   2.250                                   20120401
           17181157                   2.250                                   20120401
           17181160                   2.250                                   20120401
           17171928                   2.250                                   20120301
           17171929                   2.250                                   20120301
           17171930                   2.250                                   20120301
           17171931                   2.250                                   20120301
           17171932                   2.250                                   20120301
           17171934                   2.250                                   20120301
           17171936                   2.250                                   20120301
           17171938                   2.250                                   20120301
           17171940                   2.250                                   20120301
           17171941                   2.250                                   20120301
           17171942                   2.250                                   20120301
           17171943                   2.250                                   20120301
           17171944                   2.250                                   20120301
           17171947                   2.250                                   20120301
           17171948                   2.250                                   20120301
           17171953                   2.250                                   20120301
           17171954                   2.250                                   20120301
           17171956                   2.250                                   20120301
           17171958                   2.250                                   20120301
           17171959                   2.250                                   20120301
           17171961                   2.250                                   20120301
           17171964                   2.250                                   20120301
           17171975                   2.250                                   20120301
           17171976                   2.250                                   20120301
           17171977                   2.250                                   20120301
           17171981                   2.250                                   20120301
           17171984                   2.250                                   20120301
           17171994                   2.250                                   20120301
           17171997                   2.250                                   20120301
           17172003                   2.250                                   20120301
           17172058                   2.250                                   20120301
           17175030                   2.250                                   20120301
           17175033                   2.250                                   20120301
           17175055                   2.250                                   20120301
           17181087                   2.250                                   20120301
           17181089                   2.250                                   20120301
           17181091                   2.250                                   20120301
           17181127                   2.250                                   20120301
           17172118                   2.250                                   20120401
           17181142                   2.250                                   20120401

           LOAN_SEQ                              NEXT_PAY_ADJ_DATE1              MAX_RATE
           17020574                                  20120301                    11.3750
           17020737                                  20120301                    10.3750
           17020575                                  20120301                    10.7500
           17020498                                  20120201                    11.2500
           17020499                                  20120301                    10.7500
           17020820                                  20120301                    10.6250
           17020821                                  20120301                    10.8750
           17020660                                  20120301                    11.6250
           17020822                                  20120301                    10.7500
           17020661                                  20120201                    10.7500
           17020823                                  20120301                    11.0000
           17020662                                  20120301                    11.1250
           17020824                                  20120301                    10.8750
           17020663                                  20120201                    11.2500
           17020825                                  20120201                    10.7500
           17020664                                  20120301                    11.3750
           17020826                                  20120301                    10.8750
           17020665                                  20120301                    10.7500
           17020827                                  20120301                    11.0000
           17020828                                  20120301                    10.8750
           17020667                                  20120201                    11.0000
           17020829                                  20120301                    10.3750
           17020668                                  20120201                    11.3750
           17020669                                  20120201                    10.8750
           17020830                                  20120301                    10.7500
           17020831                                  20120301                    10.8750
           17020670                                  20120201                    10.8750
           17020832                                  20120301                    11.2500
           17020833                                  20120301                    10.8750
           17020671                                  20120301                    11.0000
           17020834                                  20120301                    10.8750
           17020672                                  20120301                    11.3750
           17020835                                  20120301                    11.2500
           17020673                                  20120201                    10.2500
           17020836                                  20120201                    11.0000
           17020674                                  20120201                    10.8750
           17020837                                  20120301                    11.1250
           17020675                                  20120301                    10.8750
           17020838                                  20120301                    10.5000
           17020676                                  20120301                    11.0000
           17020839                                  20120301                    10.3750
           17020677                                  20120201                    11.6250
           17020678                                  20120201                    11.6250
           17020679                                  20120201                    11.3750
           17020840                                  20120301                    10.8750
           17020841                                  20120301                    10.8750
           17020842                                  20120301                    10.7500
           17020680                                  20120201                    11.8750
           17020843                                  20120301                    10.8750
           17020681                                  20120201                    11.2500
           17020844                                  20120301                    11.0000
           17020682                                  20120201                    11.0000
           17020845                                  20120301                    11.0000
           17020683                                  20120301                    10.6250
           17020846                                  20120301                    10.3750
           17020684                                  20120301                    10.8750
           17020685                                  20120201                    10.8750
           17020848                                  20120301                    11.3750
           17020686                                  20120301                    11.2500
           17020849                                  20120301                    11.2500
           17020687                                  20120301                    11.2500
           17020688                                  20120201                    11.5000
           17020689                                  20120301                    11.0000
           17020850                                  20120301                    10.8750
           17020657                                  20120201                    10.8750
           17020495                                  20120201                    11.0000
           17020819                                  20120301                    11.1250
           17020658                                  20120201                    11.3750
           17020496                                  20120301                    11.0000
           17020659                                  20120301                    11.0000
           17020497                                  20120201                    11.0000
           17020492                                  20120201                    10.7500
           17020816                                  20120301                    10.8750
           17020655                                  20120201                    11.1250
           17020493                                  20120201                    11.2500
           17020817                                  20120301                    10.2500
           17020656                                  20120201                    11.2500
           17020494                                  20120201                    11.1250
           17020812                                  20120201                    11.3750
           17020651                                  20120301                    11.5000
           17020813                                  20120301                    11.1250
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           17020515                                  20120301                    11.2500
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           17020525                                  20120301                    11.2500
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           17020721                                  20120301                    11.0000
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           17120423                                  20140401                    10.8750
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           17149087                                  20140101                    11.2500
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           17175029                                  20120501                    10.0000
           17172120                                  20120501                    11.3750
           17172121                                  20120501                    11.0000
           17172122                                  20120501                    10.6250
           17172123                                  20120501                    11.6250
           17172124                                  20120501                    11.2500
           17172128                                  20120501                    11.2500
           17172129                                  20120501                    11.6250
           17172131                                  20120501                    10.7500
           17172134                                  20120501                    10.8750
           17172135                                  20120501                    13.1250
           17172137                                  20120501                    10.7500
           17172138                                  20120501                    11.0000
           17172139                                  20120501                    11.8750
           17172100                                  20120501                    10.7500
           17172101                                  20120501                    10.7500
           17172102                                  20120501                    10.2500
           17172103                                  20120501                    10.6250
           17172105                                  20120501                    11.2500
           17172106                                  20120501                    11.5000
           17172107                                  20120501                    10.7500
           17172108                                  20120501                    11.0000
           17172109                                  20120501                    10.7500
           17172110                                  20120501                    11.1250
           17172111                                  20120501                    10.5000
           17172113                                  20120501                    10.5000
           17172115                                  20120501                    11.0000
           17172116                                  20120501                    10.7500
           17172117                                  20120501                    10.7500
           17172119                                  20120501                    11.2500
           17181161                                  20120501                    11.5000
           17172090                                  20120501                    11.0000
           17181162                                  20120401                    11.3750
           17172091                                  20120501                    11.1250
           17172092                                  20120501                    10.8750
           17172093                                  20120501                    11.2500
           17172094                                  20120501                    10.8750
           17172095                                  20120501                    10.3750
           17172097                                  20120501                     9.7500
           17172098                                  20120501                    11.5000
           17172099                                  20120501                     9.7500
           17181150                                  20120501                    10.8750
           17181151                                  20120501                    10.7500
           17172080                                  20120501                    10.5000
           17181152                                  20120501                    11.3750
           17172081                                  20120501                    10.6250
           17181153                                  20120501                    10.6250
           17172082                                  20120501                    10.8750
           17181154                                  20120501                    10.7500
           17172083                                  20120501                    11.1250
           17172085                                  20120501                    10.7500
           17181158                                  20120501                    10.6250
           17172087                                  20120501                    11.2500
           17181159                                  20120501                    11.5000
           17172088                                  20120501                    11.3750
           17172089                                  20120501                    11.2500
           17172060                                  20120501                    11.2500
           17181132                                  20120501                    11.0000
           17181133                                  20120501                    10.6250
           17172062                                  20120501                    11.6250
           17181134                                  20120501                    10.6250
           17172063                                  20120501                     9.8750
           17181135                                  20120501                    10.7500
           17181136                                  20120501                    11.3750
           17172066                                  20120501                    11.1250
           17181138                                  20120501                    11.3750
           17172067                                  20120501                    10.8750
           17172069                                  20120501                    10.8750
           17181140                                  20120501                    11.1250
           17172070                                  20120501                    10.8750
           17172071                                  20120501                    10.8750
           17181143                                  20120501                    11.1250
           17172072                                  20120501                    10.6250
           17181145                                  20120501                    10.5000
           17181146                                  20120501                    10.7500
           17172075                                  20120501                    11.0000
           17181147                                  20120501                    10.5000
           17172076                                  20120501                    11.2500
           17181148                                  20120501                    10.8750
           17172077                                  20120501                    10.7500
           17172079                                  20120501                    10.3750
           17181130                                  20120501                    11.6250
           17181131                                  20120501                    10.8750
           17181121                                  20120501                    11.0000
           17172050                                  20120501                    11.1250
           17181122                                  20120501                    11.3750
           17181123                                  20120501                    10.8750
           17172052                                  20120501                    10.7500
           17181124                                  20120501                    10.6250
           17181125                                  20120501                     9.8750
           17172054                                  20120501                    10.8750
           17181126                                  20120501                    11.3750
           17172056                                  20120501                    10.7500
           17172059                                  20120501                    11.0000
           17172047                                  20120501                    10.8750
           17181119                                  20120501                    11.1250
           17172021                                  20120501                    11.0000
           17172024                                  20120501                    10.8750
           17172025                                  20120501                    10.8750
           17172026                                  20120501                    10.2500
           17172027                                  20120501                    10.8750
           17172028                                  20120401                    11.3750
           17172029                                  20120501                    11.3750
           17181100                                  20120501                    10.8750
           17181101                                  20120501                    11.6250
           17172030                                  20120501                    11.1250
           17181102                                  20120501                    10.8750
           17172031                                  20120501                    10.7500
           17172032                                  20120501                    10.6250
           17181104                                  20120501                    11.0000
           17181105                                  20120501                    11.1250
           17172034                                  20120501                    11.6250
           17181106                                  20120501                    10.5000
           17172035                                  20120501                    11.1250
           17181107                                  20120501                    11.2500
           17181108                                  20120501                    10.8750
           17172037                                  20120501                    10.8750
           17181109                                  20120501                    11.1250
           17172038                                  20120501                    11.2500
           17181110                                  20120501                    11.2500
           17181111                                  20120501                    10.5000
           17172040                                  20120501                    10.6250
           17181112                                  20120501                    12.2500
           17181113                                  20120501                    10.0000
           17172042                                  20120501                    10.5000
           17181114                                  20120501                    10.7500
           17172043                                  20120501                    11.1250
           17181115                                  20120501                    10.8750
           17181116                                  20120501                    11.0000
           17172045                                  20120501                    11.5000
           17172046                                  20120501                     9.7500
           17172017                                  20120501                    11.0000
           17172018                                  20120501                    10.7500
           17172019                                  20120501                    11.2500
           17172000                                  20120401                    11.8750
           17172006                                  20120501                    10.8750
           17172007                                  20120501                    10.6250
           17172009                                  20120501                    10.6250
           17172011                                  20120501                    10.8750
           17172013                                  20120501                    11.6250
           17172015                                  20120501                    10.8750
           17172016                                  20120501                    10.6250
           17181088                                  20120501                    10.8750
           17181090                                  20120501                    10.8750
           17181092                                  20120501                    11.1250
           17181093                                  20120501                    11.5000
           17181094                                  20120501                    11.7500
           17181095                                  20120501                    10.8750
           17181096                                  20120501                    10.5000
           17181097                                  20120501                    11.1250
           17181099                                  20120501                    10.3750
           17181082                                  20120501                    10.8750
           17181083                                  20120501                    10.8750
           17181084                                  20120501                    11.6250
           17181085                                  20120501                    11.1250
           17172140                                  20120501                    11.2500
           17172141                                  20120501                    11.5000
           17172142                                  20120501                    10.8750
           17175038                                  20120501                    11.2500
           17175039                                  20120401                    11.3750
           17175044                                  20120501                     9.7500
           17175073                                  20120501                    11.2500
           17181098                                  20120401                    11.3750
           17181103                                  20120501                    10.8750
           17181118                                  20120501                    11.0000
           17181128                                  20120501                    10.8750
           17181129                                  20120501                    10.8750
           17181137                                  20120501                    10.8750
           17181139                                  20120501                    10.0000
           17181144                                  20120501                    10.8750
           17181149                                  20120501                    11.2500
           17181155                                  20120501                    11.5000
           17181156                                  20120501                    11.2500
           17181157                                  20120501                    10.5000
           17181160                                  20120501                    11.0000
           17171928                                  20120401                    11.1250
           17171929                                  20120401                    11.1250
           17171930                                  20120401                    10.6250
           17171931                                  20120401                    10.0000
           17171932                                  20120401                    11.6250
           17171934                                  20120401                    11.5000
           17171936                                  20120401                    11.2500
           17171938                                  20120401                    11.1250
           17171940                                  20120401                    11.2500
           17171941                                  20120401                    11.6250
           17171942                                  20120401                    10.7500
           17171943                                  20120401                    10.0000
           17171944                                  20120401                    10.6250
           17171947                                  20120401                    10.6250
           17171948                                  20120401                    11.0000
           17171953                                  20120401                     9.8750
           17171954                                  20120401                    11.2500
           17171956                                  20120401                    11.2500
           17171958                                  20120401                    11.0000
           17171959                                  20120401                    11.1250
           17171961                                  20120401                    10.8750
           17171964                                  20120401                    11.2500
           17171975                                  20120401                    11.2500
           17171976                                  20120401                    11.5000
           17171977                                  20120401                    11.3750
           17171981                                  20120401                    11.5000
           17171984                                  20120401                    10.1250
           17171994                                  20120401                    11.6250
           17171997                                  20120401                    11.0000
           17172003                                  20120401                     9.7500
           17172058                                  20120401                     9.3750
           17175030                                  20120401                    10.5000
           17175033                                  20120401                    10.8750
           17175055                                  20120401                    12.5000
           17181087                                  20120401                    11.7500
           17181089                                  20120401                    11.1250
           17181091                                  20120401                    10.8750
           17181127                                  20120401                    11.2500
           17172118                                  20120501                    10.6250
           17181142                                  20120501                    10.6250

           LOAN_SEQ                   MIN_RATE                         PER_RATE_CAP
           17020574                    2.0665                            2.0000
           17020737                    2.0665                            2.0000
           17020575                    2.0665                            2.0000
           17020498                    2.0665                            2.0000
           17020499                    2.0665                            2.0000
           17020820                    2.0665                            2.0000
           17020821                    2.0665                            2.0000
           17020660                    2.0665                            2.0000
           17020822                    2.0665                            2.0000
           17020661                    2.0665                            2.0000
           17020823                    2.0665                            2.0000
           17020662                    2.0665                            2.0000
           17020824                    2.0665                            2.0000
           17020663                    2.0665                            2.0000
           17020825                    2.0665                            2.0000
           17020664                    2.0665                            2.0000
           17020826                    2.0665                            2.0000
           17020665                    2.0665                            2.0000
           17020827                    2.0665                            2.0000
           17020828                    2.0665                            2.0000
           17020667                    2.0665                            2.0000
           17020829                    2.0665                            2.0000
           17020668                    2.0665                            2.0000
           17020669                    2.0665                            2.0000
           17020830                    2.0665                            2.0000
           17020831                    2.0665                            2.0000
           17020670                    2.0665                            2.0000
           17020832                    2.0665                            2.0000
           17020833                    2.0665                            2.0000
           17020671                    2.0665                            2.0000
           17020834                    2.0665                            2.0000
           17020672                    2.0665                            2.0000
           17020835                    2.0665                            2.0000
           17020673                    2.0665                            2.0000
           17020836                    2.1765                            2.0000
           17020674                    2.0665                            2.0000
           17020837                    2.0665                            2.0000
           17020675                    2.0665                            2.0000
           17020838                    2.0665                            2.0000
           17020676                    2.0665                            2.0000
           17020839                    2.0665                            2.0000
           17020677                    2.5665                            1.0000
           17020678                    2.5665                            1.0000
           17020679                    2.5665                            1.0000
           17020840                    2.0665                            2.0000
           17020841                    2.0665                            2.0000
           17020842                    2.0665                            2.0000
           17020680                    2.5665                            1.0000
           17020843                    2.0665                            2.0000
           17020681                    2.0665                            2.0000
           17020844                    2.0665                            2.0000
           17020682                    2.0665                            2.0000
           17020845                    2.0665                            2.0000
           17020683                    2.0665                            2.0000
           17020846                    2.0665                            2.0000
           17020684                    2.0665                            2.0000
           17020685                    2.0665                            2.0000
           17020848                    2.0665                            2.0000
           17020686                    2.0665                            2.0000
           17020849                    2.0665                            2.0000
           17020687                    2.0665                            2.0000
           17020688                    2.0665                            2.0000
           17020689                    2.0665                            2.0000
           17020850                    2.0665                            2.0000
           17020657                    2.0665                            2.0000
           17020495                    2.0665                            2.0000
           17020819                    2.0665                            2.0000
           17020658                    2.0665                            2.0000
           17020496                    2.0665                            2.0000
           17020659                    2.0665                            2.0000
           17020497                    2.0665                            2.0000
           17020492                    2.0665                            2.0000
           17020816                    2.0665                            2.0000
           17020655                    2.0665                            2.0000
           17020493                    2.0665                            2.0000
           17020817                    2.0665                            2.0000
           17020656                    2.0665                            2.0000
           17020494                    2.0665                            2.0000
           17020812                    2.0665                            2.0000
           17020651                    2.0665                            2.0000
           17020813                    2.0665                            2.0000
           17020814                    2.0665                            2.0000
           17020652                    2.0665                            2.0000
           17020490                    2.0665                            2.0000
           17020491                    2.0665                            2.0000
           17020815                    2.0665                            2.0000
           17020654                    2.0665                            2.0000
           17020500                    2.0665                            2.0000
           17020501                    2.0665                            2.0000
           17020502                    2.0665                            2.0000
           17020503                    2.0665                            2.0000
           17020504                    2.0665                            2.0000
           17020505                    2.0665                            2.0000
           17020506                    2.0665                            2.0000
           17020507                    2.0665                            2.0000
           17020508                    2.0665                            2.0000
           17020509                    2.0665                            2.0000
           17020510                    2.0665                            2.0000
           17020511                    2.0665                            2.0000
           17020512                    2.0665                            2.0000
           17020513                    2.0665                            2.0000
           17020514                    2.0665                            2.0000
           17020515                    2.0665                            2.0000
           17020516                    2.0665                            2.0000
           17020517                    2.0665                            2.0000
           17020518                    2.0665                            2.0000
           17020519                    2.0665                            2.0000
           17020520                    2.0665                            2.0000
           17020521                    2.0665                            2.0000
           17020522                    2.0665                            2.0000
           17020523                    2.0665                            2.0000
           17020524                    2.0665                            2.0000
           17020525                    2.0665                            2.0000
           17020526                    2.0665                            2.0000
           17020527                    2.0665                            2.0000
           17020528                    2.0665                            2.0000
           17020529                    2.0665                            2.0000
           17020530                    2.0665                            2.0000
           17020531                    2.0665                            2.0000
           17020532                    2.0665                            2.0000
           17020533                    2.0665                            2.0000
           17020534                    2.0665                            2.0000
           17020535                    2.0665                            2.0000
           17020536                    2.0665                            2.0000
           17020537                    2.0665                            2.0000
           17020538                    2.0665                            2.0000
           17020539                    2.0665                            2.0000
           17020700                    2.0665                            2.0000
           17020701                    2.0665                            2.0000
           17020702                    2.0665                            2.0000
           17020540                    2.0665                            2.0000
           17020703                    2.0665                            2.0000
           17020541                    2.0665                            2.0000
           17020704                    2.0665                            2.0000
           17020542                    2.0665                            2.0000
           17020705                    2.0665                            2.0000
           17020543                    2.0665                            2.0000
           17020706                    2.0665                            2.0000
           17020544                    2.0665                            2.0000
           17020707                    2.0665                            2.0000
           17020545                    2.0665                            2.0000
           17020708                    2.0665                            2.0000
           17020546                    2.0665                            2.0000
           17020547                    2.0665                            2.0000
           17020385                    2.0665                            2.0000
           17020548                    2.0665                            2.0000
           17020386                    2.0665                            2.0000
           17020549                    2.0665                            2.0000
           17020387                    2.0665                            2.0000
           17020388                    2.0665                            2.0000
           17020389                    2.0665                            2.0000
           17020710                    2.1765                            2.0000
           17020711                    2.0665                            2.0000
           17020550                    2.0665                            2.0000
           17020712                    2.0665                            2.0000
           17020551                    2.0665                            2.0000
           17020713                    2.0665                            2.0000
           17020714                    2.0665                            2.0000
           17020552                    2.0665                            2.0000
           17020715                    2.0665                            2.0000
           17020553                    2.0665                            2.0000
           17020391                    2.0665                            2.0000
           17020392                    2.0665                            2.0000
           17020554                    2.0665                            2.0000
           17020716                    2.0665                            2.0000
           17020717                    2.0665                            2.0000
           17020555                    2.0665                            2.0000
           17020393                    2.0665                            2.0000
           17020718                    2.0665                            2.0000
           17020556                    2.0665                            2.0000
           17020394                    2.0665                            2.0000
           17020395                    2.0665                            2.0000
           17020557                    2.0665                            2.0000
           17020719                    2.0665                            2.0000
           17020558                    2.0665                            2.0000
           17020397                    2.0665                            2.0000
           17020559                    2.0665                            2.0000
           17020398                    2.0665                            2.0000
           17020399                    2.0665                            2.0000
           17020720                    2.0665                            2.0000
           17020721                    2.0665                            2.0000
           17020722                    2.0665                            2.0000
           17020560                    2.0665                            2.0000
           17020723                    2.0665                            2.0000
           17020561                    2.0665                            2.0000
           17020724                    2.0665                            2.0000
           17020562                    2.0665                            2.0000
           17020725                    2.0665                            2.0000
           17020563                    2.0665                            2.0000
           17020726                    2.0665                            2.0000
           17020564                    2.0665                            2.0000
           17020727                    2.0665                            2.0000
           17020565                    2.0665                            2.0000
           17020728                    2.0665                            2.0000
           17020566                    2.0665                            2.0000
           17020729                    2.0665                            2.0000
           17020567                    2.0665                            2.0000
           17020568                    2.0665                            2.0000
           17020569                    2.0665                            2.0000
           17020730                    2.0665                            2.0000
           17020731                    2.0665                            2.0000
           17020732                    2.0665                            2.0000
           17020570                    2.0665                            2.0000
           17020733                    2.0665                            2.0000
           17020571                    2.0665                            2.0000
           17020734                    2.0665                            2.0000
           17020572                    2.0665                            2.0000
           17020735                    2.0665                            2.0000
           17020573                    2.0665                            2.0000
           17020736                    2.0665                            2.0000
           17020487                    2.0665                            2.0000
           17020488                    2.0665                            2.0000
           17020489                    2.0665                            2.0000
           17020810                    2.0665                            2.0000
           17020811                    2.0665                            2.0000
           17020650                    2.0665                            2.0000
           17020791                    2.0665                            2.0000
           17020792                    2.0665                            2.0000
           17020793                    2.0665                            2.0000
           17020794                    2.0665                            2.0000
           17020795                    2.0665                            2.0000
           17020796                    2.0665                            2.0000
           17020797                    2.0665                            2.0000
           17020798                    2.0665                            2.0000
           17020799                    2.0665                            2.0000
           17020790                    2.0665                            2.0000
           17020646                    2.0665                            2.0000
           17020484                    2.0665                            2.0000
           17020808                    2.0665                            2.0000
           17020647                    2.0665                            2.0000
           17020485                    2.0665                            2.0000
           17020809                    2.0665                            2.0000
           17020648                    2.0665                            2.0000
           17020486                    2.0665                            2.0000
           17020649                    2.0665                            2.0000
           17020781                    2.0665                            2.0000
           17020782                    2.0665                            2.0000
           17020783                    2.0665                            2.0000
           17020784                    2.0665                            2.0000
           17020785                    2.0665                            2.0000
           17020786                    2.0665                            2.0000
           17020787                    2.0665                            2.0000
           17020788                    2.0665                            2.0000
           17020789                    2.0665                            2.0000
           17020612                    2.0665                            2.0000
           17020450                    2.0665                            2.0000
           17020613                    2.0665                            2.0000
           17020451                    2.0665                            2.0000
           17020614                    2.0665                            2.0000
           17020452                    2.0665                            2.0000
           17020615                    2.0665                            2.0000
           17020453                    2.0665                            2.0000
           17020616                    2.0665                            2.0000
           17020454                    2.0665                            2.0000
           17020617                    2.0665                            2.0000
           17020455                    2.0665                            2.0000
           17020456                    2.0665                            2.0000
           17020618                    2.2015                            2.0000
           17020619                    2.0665                            2.0000
           17020457                    2.0665                            2.0000
           17020458                    2.0665                            2.0000
           17020459                    2.0665                            2.0000
           17020620                    2.0665                            2.0000
           17020621                    2.0665                            2.0000
           17020622                    2.0665                            2.0000
           17020460                    2.0665                            2.0000
           17020623                    2.0665                            2.0000
           17020461                    2.0665                            2.0000
           17020624                    2.0665                            2.0000
           17020462                    2.0665                            2.0000
           17020625                    2.0665                            2.0000
           17020463                    2.0665                            2.0000
           17020626                    2.0665                            2.0000
           17020464                    2.0665                            2.0000
           17020627                    2.0665                            2.0000
           17020465                    2.0665                            2.0000
           17020628                    2.0665                            2.0000
           17020466                    2.0665                            2.0000
           17020629                    2.0665                            2.0000
           17020467                    2.0665                            2.0000
           17020468                    2.0665                            2.0000
           17020469                    2.0665                            2.0000
           17020630                    2.0665                            2.0000
           17020631                    2.0665                            2.0000
           17020632                    2.0665                            2.0000
           17020470                    2.0665                            2.0000
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           17171930                    2.0665                            2.0000
           17171931                    2.0665                            2.0000
           17171932                    2.0665                            2.0000
           17171934                    2.0665                            2.0000
           17171936                    2.0665                            2.0000
           17171938                    2.0665                            2.0000
           17171940                    2.0665                            2.0000
           17171941                    2.0665                            2.0000
           17171942                    2.0665                            2.0000
           17171943                    2.0665                            2.0000
           17171944                    2.0665                            2.0000
           17171947                    2.0665                            2.0000
           17171948                    2.0665                            2.0000
           17171953                    2.0665                            2.0000
           17171954                    2.0665                            2.0000
           17171956                    2.0665                            2.0000
           17171958                    2.0665                            2.0000
           17171959                    2.0665                            2.0000
           17171961                    2.0665                            2.0000
           17171964                    2.0665                            2.0000
           17171975                    2.0665                            2.0000
           17171976                    2.0665                            2.0000
           17171977                    2.0665                            2.0000
           17171981                    2.0665                            2.0000
           17171984                    2.0665                            2.0000
           17171994                    2.0665                            1.0000
           17171997                    2.0665                            2.0000
           17172003                    2.0665                            2.0000
           17172058                    2.0665                            2.0000
           17175030                    2.0665                            2.0000
           17175033                    2.0665                            2.0000
           17175055                    2.0665                            2.0000
           17181087                    2.0665                            2.0000
           17181089                    2.0665                            2.0000
           17181091                    2.0665                            2.0000
           17181127                    2.0665                            2.0000
           17172118                    2.0665                            2.0000
           17181142                    2.0665                            2.0000

          LOAN_SEQ        SUB_GROUP1                   NEG_AM
           17020574         G01                          No
           17020737         G01                          No
           17020575         G01                          No
           17020498         G01                          No
           17020499         G01                          No
           17020820         G01                          No
           17020821         G01                          No
           17020660         G01                          No
           17020822         G01                          No
           17020661         G01                          No
           17020823         G01                          No
           17020662         G01                          No
           17020824         G01                          No
           17020663         G01                          No
           17020825         G01                          No
           17020664         G01                          No
           17020826         G01                          No
           17020665         G01                          No
           17020827         G01                          No
           17020828         G01                          No
           17020667         G01                          No
           17020829         G01                          No
           17020668         G01                          No
           17020669         G01                          No
           17020830         G01                          No
           17020831         G01                          No
           17020670         G01                          No
           17020832         G01                          No
           17020833         G01                          No
           17020671         G01                          No
           17020834         G01                          No
           17020672         G01                          No
           17020835         G01                          No
           17020673         G01                          No
           17020836         G01                          No
           17020674         G01                          No
           17020837         G01                          No
           17020675         G01                          No
           17020838         G01                          No
           17020676         G01                          No
           17020839         G01                          No
           17020677         G01                          No
           17020678         G01                          No
           17020679         G01                          No
           17020840         G01                          No
           17020841         G01                          No
           17020842         G01                          No
           17020680         G01                          No
           17020843         G01                          No
           17020681         G01                          No
           17020844         G01                          No
           17020682         G01                          No
           17020845         G01                          No
           17020683         G01                          No
           17020846         G01                          No
           17020684         G01                          No
           17020685         G01                          No
           17020848         G01                          No
           17020686         G01                          No
           17020849         G01                          No
           17020687         G01                          No
           17020688         G01                          No
           17020689         G01                          No
           17020850         G01                          No
           17020657         G01                          No
           17020495         G01                          No
           17020819         G01                          No
           17020658         G01                          No
           17020496         G01                          No
           17020659         G01                          No
           17020497         G01                          No
           17020492         G01                          No
           17020816         G01                          No
           17020655         G01                          No
           17020493         G01                          No
           17020817         G01                          No
           17020656         G01                          No
           17020494         G01                          No
           17020812         G01                          No
           17020651         G01                          No
           17020813         G01                          No
           17020814         G01                          No
           17020652         G01                          No
           17020490         G01                          No
           17020491         G01                          No
           17020815         G01                          No
           17020654         G01                          No
           17020500         G01                          No
           17020501         G01                          No
           17020502         G01                          No
           17020503         G01                          No
           17020504         G01                          No
           17020505         G01                          No
           17020506         G01                          No
           17020507         G01                          No
           17020508         G01                          No
           17020509         G01                          No
           17020510         G01                          No
           17020511         G01                          No
           17020512         G01                          No
           17020513         G01                          No
           17020514         G01                          No
           17020515         G01                          No
           17020516         G01                          No
           17020517         G01                          No
           17020518         G01                          No
           17020519         G01                          No
           17020520         G01                          No
           17020521         G01                          No
           17020522         G01                          No
           17020523         G01                          No
           17020524         G01                          No
           17020525         G01                          No
           17020526         G01                          No
           17020527         G01                          No
           17020528         G01                          No
           17020529         G01                          No
           17020530         G01                          No
           17020531         G01                          No
           17020532         G01                          No
           17020533         G01                          No
           17020534         G01                          No
           17020535         G01                          No
           17020536         G01                          No
           17020537         G01                          No
           17020538         G01                          No
           17020539         G01                          No
           17020700         G01                          No
           17020701         G01                          No
           17020702         G01                          No
           17020540         G01                          No
           17020703         G01                          No
           17020541         G01                          No
           17020704         G01                          No
           17020542         G01                          No
           17020705         G01                          No
           17020543         G01                          No
           17020706         G01                          No
           17020544         G01                          No
           17020707         G01                          No
           17020545         G01                          No
           17020708         G01                          No
           17020546         G01                          No
           17020547         G01                          No
           17020385         G01                          No
           17020548         G01                          No
           17020386         G01                          No
           17020549         G01                          No
           17020387         G01                          No
           17020388         G01                          No
           17020389         G01                          No
           17020710         G01                          No
           17020711         G01                          No
           17020550         G01                          No
           17020712         G01                          No
           17020551         G01                          No
           17020713         G01                          No
           17020714         G01                          No
           17020552         G01                          No
           17020715         G01                          No
           17020553         G01                          No
           17020391         G01                          No
           17020392         G01                          No
           17020554         G01                          No
           17020716         G01                          No
           17020717         G01                          No
           17020555         G01                          No
           17020393         G01                          No
           17020718         G01                          No
           17020556         G01                          No
           17020394         G01                          No
           17020395         G01                          No
           17020557         G01                          No
           17020719         G01                          No
           17020558         G01                          No
           17020397         G01                          No
           17020559         G01                          No
           17020398         G01                          No
           17020399         G01                          No
           17020720         G01                          No
           17020721         G01                          No
           17020722         G01                          No
           17020560         G01                          No
           17020723         G01                          No
           17020561         G01                          No
           17020724         G01                          No
           17020562         G01                          No
           17020725         G01                          No
           17020563         G01                          No
           17020726         G01                          No
           17020564         G01                          No
           17020727         G01                          No
           17020565         G01                          No
           17020728         G01                          No
           17020566         G01                          No
           17020729         G01                          No
           17020567         G01                          No
           17020568         G01                          No
           17020569         G01                          No
           17020730         G01                          No
           17020731         G01                          No
           17020732         G01                          No
           17020570         G01                          No
           17020733         G01                          No
           17020571         G01                          No
           17020734         G01                          No
           17020572         G01                          No
           17020735         G01                          No
           17020573         G01                          No
           17020736         G01                          No
           17020487         G01                          No
           17020488         G01                          No
           17020489         G01                          No
           17020810         G01                          No
           17020811         G01                          No
           17020650         G01                          No
           17020791         G01                          No
           17020792         G01                          No
           17020793         G01                          No
           17020794         G01                          No
           17020795         G01                          No
           17020796         G01                          No
           17020797         G01                          No
           17020798         G01                          No
           17020799         G01                          No
           17020790         G01                          No
           17020646         G01                          No
           17020484         G01                          No
           17020808         G01                          No
           17020647         G01                          No
           17020485         G01                          No
           17020809         G01                          No
           17020648         G01                          No
           17020486         G01                          No
           17020649         G01                          No
           17020781         G01                          No
           17020782         G01                          No
           17020783         G01                          No
           17020784         G01                          No
           17020785         G01                          No
           17020786         G01                          No
           17020787         G01                          No
           17020788         G01                          No
           17020789         G01                          No
           17020612         G01                          No
           17020450         G01                          No
           17020613         G01                          No
           17020451         G01                          No
           17020614         G01                          No
           17020452         G01                          No
           17020615         G01                          No
           17020453         G01                          No
           17020616         G01                          No
           17020454         G01                          No
           17020617         G01                          No
           17020455         G01                          No
           17020456         G01                          No
           17020618         G01                          No
           17020619         G01                          No
           17020457         G01                          No
           17020458         G01                          No
           17020459         G01                          No
           17020620         G01                          No
           17020621         G01                          No
           17020622         G01                          No
           17020460         G01                          No
           17020623         G01                          No
           17020461         G01                          No
           17020624         G01                          No
           17020462         G01                          No
           17020625         G01                          No
           17020463         G01                          No
           17020626         G01                          No
           17020464         G01                          No
           17020627         G01                          No
           17020465         G01                          No
           17020628         G01                          No
           17020466         G01                          No
           17020629         G01                          No
           17020467         G01                          No
           17020468         G01                          No
           17020469         G01                          No
           17020630         G01                          No
           17020631         G01                          No
           17020632         G01                          No
           17020470         G01                          No
           17020633         G01                          No
           17020471         G01                          No
           17020634         G01                          No
           17020472         G01                          No
           17020635         G01                          No
           17020473         G01                          No
           17020636         G01                          No
           17020474         G01                          No
           17020637         G01                          No
           17020475         G01                          No
           17020638         G01                          No
           17020476         G01                          No
           17020477         G01                          No
           17020478         G01                          No
           17020479         G01                          No
           17020800         G01                          No
           17020801         G01                          No
           17020640         G01                          No
           17020802         G01                          No
           17020641         G01                          No
           17020803         G01                          No
           17020642         G01                          No
           17020480         G01                          No
           17020804         G01                          No
           17020643         G01                          No
           17020481         G01                          No
           17020805         G01                          No
           17020644         G01                          No
           17020482         G01                          No
           17020806         G01                          No
           17020645         G01                          No
           17020483         G01                          No
           17020807         G01                          No
           17020436         G01                          No
           17020437         G01                          No
           17020438         G01                          No
           17020439         G01                          No
           17020600         G01                          No
           17020601         G01                          No
           17020602         G01                          No
           17020440         G01                          No
           17020603         G01                          No
           17020441         G01                          No
           17020604         G01                          No
           17020442         G01                          No
           17020605         G01                          No
           17020606         G01                          No
           17020444         G01                          No
           17020607         G01                          No
           17020445         G01                          No
           17020608         G01                          No
           17020446         G01                          No
           17020609         G01                          No
           17020447         G01                          No
           17020448         G01                          No
           17020449         G01                          No
           17020610         G01                          No
           17020611         G01                          No
           17020771         G01                          No
           17020772         G01                          No
           17020773         G01                          No
           17020774         G01                          No
           17020775         G01                          No
           17020777         G01                          No
           17020778         G01                          No
           17020779         G01                          No
           17020780         G01                          No
           17020400         G01                          No
           17020401         G01                          No
           17020402         G01                          No
           17020403         G01                          No
           17020404         G01                          No
           17020405         G01                          No
           17020406         G01                          No
           17020407         G01                          No
           17020408         G01                          No
           17020409         G01                          No
           17020410         G01                          No
           17020411         G01                          No
           17020412         G01                          No
           17020413         G01                          No
           17020415         G01                          No
           17020416         G01                          No
           17020417         G01                          No
           17020418         G01                          No
           17020419         G01                          No
           17020420         G01                          No
           17020421         G01                          No
           17020422         G01                          No
           17020423         G01                          No
           17020424         G01                          No
           17020425         G01                          No
           17020427         G01                          No
           17020428         G01                          No
           17020429         G01                          No
           17020430         G01                          No
           17020431         G01                          No
           17020432         G01                          No
           17020433         G01                          No
           17020434         G01                          No
           17020761         G01                          No
           17020762         G01                          No
           17020763         G01                          No
           17020764         G01                          No
           17020765         G01                          No
           17020766         G01                          No
           17020767         G01                          No
           17020768         G01                          No
           17020769         G01                          No
           17020770         G01                          No
           17020851         G01                          No
           17020852         G01                          No
           17020690         G01                          No
           17020853         G01                          No
           17020691         G01                          No
           17020854         G01                          No
           17020692         G01                          No
           17020855         G01                          No
           17020693         G01                          No
           17020856         G01                          No
           17020694         G01                          No
           17020857         G01                          No
           17020695         G01                          No
           17020858         G01                          No
           17020696         G01                          No
           17020859         G01                          No
           17020697         G01                          No
           17020698         G01                          No
           17020699         G01                          No
           17020860         G01                          No
           17020861         G01                          No
           17020862         G01                          No
           17020740         G01                          No
           17020741         G01                          No
           17020742         G01                          No
           17020580         G01                          No
           17020743         G01                          No
           17020581         G01                          No
           17020744         G01                          No
           17020582         G01                          No
           17020745         G01                          No
           17020583         G01                          No
           17020746         G01                          No
           17020584         G01                          No
           17020747         G01                          No
           17020585         G01                          No
           17020748         G01                          No
           17020586         G01                          No
           17020749         G01                          No
           17020587         G01                          No
           17020588         G01                          No
           17020589         G01                          No
           17020750         G01                          No
           17020751         G01                          No
           17020590         G01                          No
           17020752         G01                          No
           17020591         G01                          No
           17020753         G01                          No
           17020592         G01                          No
           17020754         G01                          No
           17020593         G01                          No
           17020755         G01                          No
           17020594         G01                          No
           17020756         G01                          No
           17020595         G01                          No
           17020757         G01                          No
           17020596         G01                          No
           17020758         G01                          No
           17020597         G01                          No
           17020759         G01                          No
           17020598         G01                          No
           17020599         G01                          No
           17020760         G01                          No
           17020738         G01                          No
           17020576         G01                          No
           17020739         G01                          No
           17020577         G01                          No
           17020578         G01                          No
           17020390         G01                          No
           17149253         G02                          No
           17129133         G02                          No
           17120372         G02                          No
           17120377         G02                          No
           17120399         G02                          No
           17129138         G02                          No
           17120386         G02                          No
           17120389         G02                          No
           17120412         G02                          No
           17120421         G02                          No
           17120390         G02                          No
           17120391         G02                          No
           17120392         G02                          No
           17120393         G02                          No
           17120394         G02                          No
           17120395         G02                          No
           17120397         G02                          No
           17120398         G02                          No
           17120385         G02                          No
           17120387         G02                          No
           17120388         G02                          No
           17120384         G02                          No
           17120330         G02                          No
           17120331         G02                          No
           17120332         G02                          No
           17120333         G02                          No
           17120334         G02                          No
           17120335         G02                          No
           17120336         G02                          No
           17120337         G02                          No
           17120338         G02                          No
           17120339         G02                          No
           17120341         G02                          No
           17120342         G02                          No
           17120343         G02                          No
           17120344         G02                          No
           17120346         G02                          No
           17120347         G02                          No
           17120348         G02                          No
           17120349         G02                          No
           17120350         G02                          No
           17120351         G02                          No
           17120353         G02                          No
           17120354         G02                          No
           17120355         G02                          No
           17120356         G02                          No
           17120357         G02                          No
           17120358         G02                          No
           17120359         G02                          No
           17120360         G02                          No
           17120361         G02                          No
           17120362         G02                          No
           17120363         G02                          No
           17120364         G02                          No
           17120365         G02                          No
           17120366         G02                          No
           17120367         G02                          No
           17120370         G02                          No
           17120371         G02                          No
           17120373         G02                          No
           17120374         G02                          No
           17120375         G02                          No
           17120376         G02                          No
           17120378         G02                          No
           17120379         G02                          No
           17120380         G02                          No
           17120381         G02                          No
           17120382         G02                          No
           17120383         G02                          No
           17120327         G02                          No
           17120328         G02                          No
           17149240         G02                          No
           17149241         G02                          No
           17149242         G02                          No
           17149243         G02                          No
           17149244         G02                          No
           17149245         G02                          No
           17149246         G02                          No
           17149247         G02                          No
           17149248         G02                          No
           17149249         G02                          No
           17149250         G02                          No
           17149251         G02                          No
           17149252         G02                          No
           17149100         G02                          No
           17149101         G02                          No
           17149102         G02                          No
           17129130         G02                          No
           17129131         G02                          No
           17129132         G02                          No
           17129134         G02                          No
           17129135         G02                          No
           17129136         G02                          No
           17129137         G02                          No
           17129139         G02                          No
           17129140         G02                          No
           17129141         G02                          No
           17129142         G02                          No
           17129144         G02                          No
           17129145         G02                          No
           17129127         G02                          No
           17129128         G02                          No
           17129129         G02                          No
           17120410         G02                          No
           17120411         G02                          No
           17120413         G02                          No
           17120414         G02                          No
           17120415         G02                          No
           17120416         G02                          No
           17120417         G02                          No
           17120418         G02                          No
           17120419         G02                          No
           17120420         G02                          No
           17120422         G02                          No
           17120423         G02                          No
           17120424         G02                          No
           17120425         G02                          No
           17120426         G02                          No
           17149077         G02                          No
           17149078         G02                          No
           17149079         G02                          No
           17149080         G02                          No
           17149081         G02                          No
           17149082         G02                          No
           17149083         G02                          No
           17149084         G02                          No
           17149086         G02                          No
           17149087         G02                          No
           17149088         G02                          No
           17149089         G02                          No
           17149090         G02                          No
           17149091         G02                          No
           17120401         G02                          No
           17120402         G02                          No
           17120403         G02                          No
           17120404         G02                          No
           17120405         G02                          No
           17120406         G02                          No
           17120407         G02                          No
           17120408         G02                          No
           17120409         G02                          No
           17149092         G02                          No
           17149093         G02                          No
           17149094         G02                          No
           17149095         G02                          No
           17149096         G02                          No
           17149097         G02                          No
           17149098         G02                          No
           17149099         G02                          No
           17120498         G03                          No
           17120455         G03                          No
           17120477         G03                          No
           17120490         G03                          No
           17120532         G03                          No
           17120544         G03                          No
           17120540         G03                          No
           17120541         G03                          No
           17120542         G03                          No
           17120543         G03                          No
           17120545         G03                          No
           17120546         G03                          No
           17120547         G03                          No
           17120548         G03                          No
           17120549         G03                          No
           17120550         G03                          No
           17120551         G03                          No
           17120552         G03                          No
           17120553         G03                          No
           17120554         G03                          No
           17120555         G03                          No
           17120556         G03                          No
           17120557         G03                          No
           17120558         G03                          No
           17120559         G03                          No
           17120560         G03                          No
           17120561         G03                          No
           17120562         G03                          No
           17120563         G03                          No
           17120564         G03                          No
           17120565         G03                          No
           17120566         G03                          No
           17120567         G03                          No
           17120568         G03                          No
           17120569         G03                          No
           17120570         G03                          No
           17120571         G03                          No
           17120572         G03                          No
           17120573         G03                          No
           17120574         G03                          No
           17120575         G03                          No
           17120576         G03                          No
           17120526         G03                          No
           17120527         G03                          No
           17120528         G03                          No
           17120529         G03                          No
           17120530         G03                          No
           17120531         G03                          No
           17120533         G03                          No
           17120534         G03                          No
           17120535         G03                          No
           17120536         G03                          No
           17120537         G03                          No
           17120538         G03                          No
           17120539         G03                          No
           17120510         G03                          No
           17120511         G03                          No
           17120512         G03                          No
           17120513         G03                          No
           17120514         G03                          No
           17120515         G03                          No
           17120516         G03                          No
           17120517         G03                          No
           17120518         G03                          No
           17120519         G03                          No
           17120520         G03                          No
           17120521         G03                          No
           17120522         G03                          No
           17120523         G03                          No
           17120524         G03                          No
           17120525         G03                          No
           17120500         G03                          No
           17120501         G03                          No
           17120502         G03                          No
           17120503         G03                          No
           17120504         G03                          No
           17120505         G03                          No
           17120506         G03                          No
           17120507         G03                          No
           17120508         G03                          No
           17120509         G03                          No
           17149110         G03                          No
           17149111         G03                          No
           17149112         G03                          No
           17149113         G03                          No
           17149103         G03                          No
           17149105         G03                          No
           17149106         G03                          No
           17149107         G03                          No
           17149108         G03                          No
           17149109         G03                          No
           17120450         G03                          No
           17120451         G03                          No
           17120452         G03                          No
           17120453         G03                          No
           17120454         G03                          No
           17120456         G03                          No
           17120457         G03                          No
           17120458         G03                          No
           17120459         G03                          No
           17120460         G03                          No
           17120461         G03                          No
           17120462         G03                          No
           17120463         G03                          No
           17120464         G03                          No
           17120465         G03                          No
           17120466         G03                          No
           17120467         G03                          No
           17120468         G03                          No
           17120469         G03                          No
           17120470         G03                          No
           17120471         G03                          No
           17120472         G03                          No
           17120473         G03                          No
           17120474         G03                          No
           17120476         G03                          No
           17120478         G03                          No
           17120479         G03                          No
           17120480         G03                          No
           17120481         G03                          No
           17120482         G03                          No
           17120483         G03                          No
           17120484         G03                          No
           17120485         G03                          No
           17120486         G03                          No
           17120487         G03                          No
           17120488         G03                          No
           17120489         G03                          No
           17120491         G03                          No
           17120492         G03                          No
           17120493         G03                          No
           17120494         G03                          No
           17120495         G03                          No
           17120496         G03                          No
           17120499         G03                          No
           17120429         G03                          No
           17120430         G03                          No
           17120431         G03                          No
           17120432         G03                          No
           17120433         G03                          No
           17120434         G03                          No
           17120436         G03                          No
           17120437         G03                          No
           17120438         G03                          No
           17120440         G03                          No
           17120441         G03                          No
           17120442         G03                          No
           17120443         G03                          No
           17120444         G03                          No
           17120445         G03                          No
           17120446         G03                          No
           17120447         G03                          No
           17120448         G03                          No
           17120449         G03                          No
           17181086         G01                          No
           17171924         G01                          No
           17172078         G01                          No
           17175048         G01                          No
           17175049         G01                          No
           17171987         G01                          No
           17172020         G01                          No
           17203440         G01                          No
           17172004         G01                          No
           17172023         G01                          No
           17172005         G01                          No
           17203443         G01                          No
           17203445         G01                          No
           17203409         G01                          No
           17172044         G01                          No
           17203427         G01                          No
           17172008         G01                          No
           17181117         G01                          No
           17172064         G01                          No
           17203267         G01                          No
           17175071         G01                          No
           17172065         G01                          No
           17175054         G01                          No
           17172048         G01                          No
           17172049         G01                          No
           17171951         G01                          No
           17171995         G01                          No
           17203410         G01                          No
           17181120         G01                          No
           17172112         G01                          No
           17172014         G01                          No
           17203451         G01                          No
           17172051         G01                          No
           17203255         G01                          No
           17172053         G01                          No
           17203437         G01                          No
           17172036         G01                          No
           17172136         G01                          No
           17172073         G01                          No
           17172055         G01                          No
           17203294         G01                          No
           17203278         G01                          No
           17203359         G01                          No
           17172039         G01                          No
           17203396         G01                          No
           17203423         G01                          No
           17203388         G01                          No
           17203364         G01                          No
           17203354         G01                          No
           17203317         G01                          No
           17171965         G01                          No
           17203331         G01                          No
           17172132         G01                          No
           17172133         G01                          No
           17172127         G01                          No
           17172130         G01                          No
           17172104         G01                          No
           17172114         G01                          No
           17172125         G01                          No
           17172126         G01                          No
           17171998         G01                          No
           17172001         G01                          No
           17172002         G01                          No
           17172010         G01                          No
           17172022         G01                          No
           17172033         G01                          No
           17172041         G01                          No
           17172057         G01                          No
           17172061         G01                          No
           17172068         G01                          No
           17172074         G01                          No
           17172084         G01                          No
           17172086         G01                          No
           17171926         G01                          No
           17171946         G01                          No
           17171952         G01                          No
           17171957         G01                          No
           17171960         G01                          No
           17171979         G01                          No
           17171980         G01                          No
           17171983         G01                          No
           17171990         G01                          No
           17171992         G01                          No
           17171922         G01                          No
           17203303         G01                          No
           17203452         G01                          No
           17203340         G01                          No
           17203351         G01                          No
           17203283         G01                          No
           17203252         G01                          No
           17203412         G01                          No
           17203321         G01                          No
           17203385         G01                          No
           17203392         G01                          No
           17203401         G01                          No
           17203435         G01                          No
           17203383         G01                          No
           17203323         G01                          No
           17203449         G01                          No
           17203328         G01                          No
           17203339         G01                          No
           17203315         G01                          No
           17203257         G01                          No
           17203295         G01                          No
           17203290         G01                          No
           17203299         G01                          No
           17203424         G01                          No
           17203379         G01                          No
           17203256         G01                          No
           17203422         G01                          No
           17203253         G01                          No
           17203312         G01                          No
           17203293         G01                          No
           17203418         G01                          No
           17203314         G01                          No
           17203448         G01                          No
           17203384         G01                          No
           17203281         G01                          No
           17203348         G01                          No
           17203390         G01                          No
           17203310         G01                          No
           17203363         G01                          No
           17203425         G01                          No
           17203373         G01                          No
           17203266         G01                          No
           17203358         G01                          No
           17203429         G01                          No
           17203371         G01                          No
           17203337         G01                          No
           17203421         G01                          No
           17203430         G01                          No
           17203247         G01                          No
           17203320         G01                          No
           17203405         G01                          No
           17203270         G01                          No
           17203362         G01                          No
           17203361         G01                          No
           17203272         G01                          No
           17203350         G01                          No
           17203403         G01                          No
           17203301         G01                          No
           17203349         G01                          No
           17203338         G01                          No
           17203345         G01                          No
           17203307         G01                          No
           17203357         G01                          No
           17203442         G01                          No
           17203277         G01                          No
           17203280         G01                          No
           17203344         G01                          No
           17203381         G01                          No
           17203436         G01                          No
           17203333         G01                          No
           17203316         G01                          No
           17203305         G01                          No
           17203292         G01                          No
           17203419         G01                          No
           17203433         G01                          No
           17203438         G01                          No
           17203284         G01                          No
           17203275         G01                          No
           17203411         G01                          No
           17203324         G01                          No
           17203408         G01                          No
           17203300         G01                          No
           17203273         G01                          No
           17203446         G01                          No
           17203415         G01                          No
           17203389         G01                          No
           17203398         G01                          No
           17203274         G01                          No
           17203318         G01                          No
           17203391         G01                          No
           17203399         G01                          No
           17203450         G01                          No
           17203447         G01                          No
           17203453         G01                          No
           17203428         G01                          No
           17203313         G01                          No
           17203431         G01                          No
           17203417         G01                          No
           17203343         G01                          No
           17203360         G01                          No
           17203416         G01                          No
           17203406         G01                          No
           17203367         G01                          No
           17203380         G01                          No
           17203286         G01                          No
           17203330         G01                          No
           17203249         G01                          No
           17203342         G01                          No
           17203346         G01                          No
           17203264         G01                          No
           17203322         G01                          No
           17203397         G01                          No
           17203407         G01                          No
           17203336         G01                          No
           17203374         G01                          No
           17203329         G01                          No
           17203327         G01                          No
           17203369         G01                          No
           17203335         G01                          No
           17203291         G01                          No
           17203289         G01                          No
           17203372         G01                          No
           17203296         G01                          No
           17203254         G01                          No
           17203444         G01                          No
           17203365         G01                          No
           17203259         G01                          No
           17203366         G01                          No
           17203353         G01                          No
           17203285         G01                          No
           17203352         G01                          No
           17203306         G01                          No
           17203414         G01                          No
           17203393         G01                          No
           17203382         G01                          No
           17203302         G01                          No
           17203356         G01                          No
           17203387         G01                          No
           17203377         G01                          No
           17203308         G01                          No
           17203276         G01                          No
           17203288         G01                          No
           17203378         G01                          No
           17203376         G01                          No
           17203370         G01                          No
           17203248         G01                          No
           17203341         G01                          No
           17203334         G01                          No
           17203395         G01                          No
           17203332         G01                          No
           17203309         G01                          No
           17203375         G01                          No
           17203279         G01                          No
           17203386         G01                          No
           17203311         G01                          No
           17203420         G01                          No
           17203402         G01                          No
           17203439         G01                          No
           17203297         G01                          No
           17203282         G01                          No
           17203368         G01                          No
           17203394         G01                          No
           17203400         G01                          No
           17203355         G01                          No
           17203404         G01                          No
           17203426         G01                          No
           17203298         G01                          No
           17203304         G01                          No
           17203434         G01                          No
           17171962         G01                          No
           17171963         G01                          No
           17171966         G01                          No
           17171967         G01                          No
           17171968         G01                          No
           17171969         G01                          No
           17171970         G01                          No
           17171971         G01                          No
           17171973         G01                          No
           17171974         G01                          No
           17171978         G01                          No
           17171982         G01                          No
           17171985         G01                          No
           17171986         G01                          No
           17171988         G01                          No
           17171989         G01                          No
           17171991         G01                          No
           17171993         G01                          No
           17171996         G01                          No
           17171999         G01                          No
           17171950         G01                          No
           17171955         G01                          No
           17171916         G01                          No
           17171917         G01                          No
           17171918         G01                          No
           17171919         G01                          No
           17171920         G01                          No
           17171921         G01                          No
           17171923         G01                          No
           17171925         G01                          No
           17171927         G01                          No
           17171933         G01                          No
           17171935         G01                          No
           17171937         G01                          No
           17171939         G01                          No
           17171945         G01                          No
           17171949         G01                          No
           17175070         G01                          No
           17175072         G01                          No
           17175056         G01                          No
           17175057         G01                          No
           17175059         G01                          No
           17175060         G01                          No
           17175061         G01                          No
           17175062         G01                          No
           17175063         G01                          No
           17175064         G01                          No
           17175065         G01                          No
           17175066         G01                          No
           17175067         G01                          No
           17175068         G01                          No
           17175069         G01                          No
           17175031         G01                          No
           17175032         G01                          No
           17175034         G01                          No
           17175035         G01                          No
           17175036         G01                          No
           17175037         G01                          No
           17175040         G01                          No
           17175041         G01                          No
           17175042         G01                          No
           17175043         G01                          No
           17175045         G01                          No
           17175046         G01                          No
           17175047         G01                          No
           17175050         G01                          No
           17175051         G01                          No
           17175052         G01                          No
           17175053         G01                          No
           17175024         G01                          No
           17175025         G01                          No
           17175026         G01                          No
           17175027         G01                          No
           17175028         G01                          No
           17175029         G01                          No
           17172120         G01                          No
           17172121         G01                          No
           17172122         G01                          No
           17172123         G01                          No
           17172124         G01                          No
           17172128         G01                          No
           17172129         G01                          No
           17172131         G01                          No
           17172134         G01                          No
           17172135         G01                          No
           17172137         G01                          No
           17172138         G01                          No
           17172139         G01                          No
           17172100         G01                          No
           17172101         G01                          No
           17172102         G01                          No
           17172103         G01                          No
           17172105         G01                          No
           17172106         G01                          No
           17172107         G01                          No
           17172108         G01                          No
           17172109         G01                          No
           17172110         G01                          No
           17172111         G01                          No
           17172113         G01                          No
           17172115         G01                          No
           17172116         G01                          No
           17172117         G01                          No
           17172119         G01                          No
           17181161         G01                          No
           17172090         G01                          No
           17181162         G01                          No
           17172091         G01                          No
           17172092         G01                          No
           17172093         G01                          No
           17172094         G01                          No
           17172095         G01                          No
           17172097         G01                          No
           17172098         G01                          No
           17172099         G01                          No
           17181150         G01                          No
           17181151         G01                          No
           17172080         G01                          No
           17181152         G01                          No
           17172081         G01                          No
           17181153         G01                          No
           17172082         G01                          No
           17181154         G01                          No
           17172083         G01                          No
           17172085         G01                          No
           17181158         G01                          No
           17172087         G01                          No
           17181159         G01                          No
           17172088         G01                          No
           17172089         G01                          No
           17172060         G01                          No
           17181132         G01                          No
           17181133         G01                          No
           17172062         G01                          No
           17181134         G01                          No
           17172063         G01                          No
           17181135         G01                          No
           17181136         G01                          No
           17172066         G01                          No
           17181138         G01                          No
           17172067         G01                          No
           17172069         G01                          No
           17181140         G01                          No
           17172070         G01                          No
           17172071         G01                          No
           17181143         G01                          No
           17172072         G01                          No
           17181145         G01                          No
           17181146         G01                          No
           17172075         G01                          No
           17181147         G01                          No
           17172076         G01                          No
           17181148         G01                          No
           17172077         G01                          No
           17172079         G01                          No
           17181130         G01                          No
           17181131         G01                          No
           17181121         G01                          No
           17172050         G01                          No
           17181122         G01                          No
           17181123         G01                          No
           17172052         G01                          No
           17181124         G01                          No
           17181125         G01                          No
           17172054         G01                          No
           17181126         G01                          No
           17172056         G01                          No
           17172059         G01                          No
           17172047         G01                          No
           17181119         G01                          No
           17172021         G01                          No
           17172024         G01                          No
           17172025         G01                          No
           17172026         G01                          No
           17172027         G01                          No
           17172028         G01                          No
           17172029         G01                          No
           17181100         G01                          No
           17181101         G01                          No
           17172030         G01                          No
           17181102         G01                          No
           17172031         G01                          No
           17172032         G01                          No
           17181104         G01                          No
           17181105         G01                          No
           17172034         G01                          No
           17181106         G01                          No
           17172035         G01                          No
           17181107         G01                          No
           17181108         G01                          No
           17172037         G01                          No
           17181109         G01                          No
           17172038         G01                          No
           17181110         G01                          No
           17181111         G01                          No
           17172040         G01                          No
           17181112         G01                          No
           17181113         G01                          No
           17172042         G01                          No
           17181114         G01                          No
           17172043         G01                          No
           17181115         G01                          No
           17181116         G01                          No
           17172045         G01                          No
           17172046         G01                          No
           17172017         G01                          No
           17172018         G01                          No
           17172019         G01                          No
           17172000         G01                          No
           17172006         G01                          No
           17172007         G01                          No
           17172009         G01                          No
           17172011         G01                          No
           17172013         G01                          No
           17172015         G01                          No
           17172016         G01                          No
           17181088         G01                          No
           17181090         G01                          No
           17181092         G01                          No
           17181093         G01                          No
           17181094         G01                          No
           17181095         G01                          No
           17181096         G01                          No
           17181097         G01                          No
           17181099         G01                          No
           17181082         G01                          No
           17181083         G01                          No
           17181084         G01                          No
           17181085         G01                          No
           17172140         G01                          No
           17172141         G01                          No
           17172142         G01                          No
           17175038         G01                          No
           17175039         G01                          No
           17175044         G01                          No
           17175073         G01                          No
           17181098         G01                          No
           17181103         G01                          No
           17181118         G01                          No
           17181128         G01                          No
           17181129         G01                          No
           17181137         G01                          No
           17181139         G01                          No
           17181144         G01                          No
           17181149         G01                          No
           17181155         G01                          No
           17181156         G01                          No
           17181157         G01                          No
           17181160         G01                          No
           17171928         G01                          No
           17171929         G01                          No
           17171930         G01                          No
           17171931         G01                          No
           17171932         G01                          No
           17171934         G01                          No
           17171936         G01                          No
           17171938         G01                          No
           17171940         G01                          No
           17171941         G01                          No
           17171942         G01                          No
           17171943         G01                          No
           17171944         G01                          No
           17171947         G01                          No
           17171948         G01                          No
           17171953         G01                          No
           17171954         G01                          No
           17171956         G01                          No
           17171958         G01                          No
           17171959         G01                          No
           17171961         G01                          No
           17171964         G01                          No
           17171975         G01                          No
           17171976         G01                          No
           17171977         G01                          No
           17171981         G01                          No
           17171984         G01                          No
           17171994         G01                          No
           17171997         G01                          No
           17172003         G01                          No
           17172058         G01                          No
           17175030         G01                          No
           17175033         G01                          No
           17175055         G01                          No
           17181087         G01                          No
           17181089         G01                          No
           17181091         G01                          No
           17181127         G01                          No
           17172118         G01                          No
           17181142         G01                          No

           LOAN_SEQ            PRODUCT                AM_TYPE
           17020574         5/1LIBOR  IO                ARMS
           17020737         5/1LIBOR  IO                ARMS
           17020575         5/1LIBOR  IO                ARMS
           17020498         5/1LIBOR  IO                ARMS
           17020499         5/1LIBOR                    ARMS
           17020820         5/1LIBOR  IO                ARMS
           17020821         5/1LIBOR  IO                ARMS
           17020660         5/1LIBOR  IO                ARMS
           17020822         5/1LIBOR  IO                ARMS
           17020661         5/1LIBOR  IO                ARMS
           17020823         5/1LIBOR  IO                ARMS
           17020662         5/1LIBOR  IO                ARMS
           17020824         5/1LIBOR  IO                ARMS
           17020663         5/1LIBOR  IO                ARMS
           17020825         5/1LIBOR  IO                ARMS
           17020664         5/1LIBOR  IO                ARMS
           17020826         5/1LIBOR  IO                ARMS
           17020665         5/1LIBOR  IO                ARMS
           17020827         5/1LIBOR  IO                ARMS
           17020828         5/1LIBOR  IO                ARMS
           17020667         5/1LIBOR  IO                ARMS
           17020829         5/1LIBOR  IO                ARMS
           17020668         5/1LIBOR  IO                ARMS
           17020669         5/1LIBOR  IO                ARMS
           17020830         5/1LIBOR  IO                ARMS
           17020831         5/1LIBOR  IO                ARMS
           17020670         5/1LIBOR  IO                ARMS
           17020832         5/1LIBOR  IO                ARMS
           17020833         5/1LIBOR  IO                ARMS
           17020671         5/1LIBOR  IO                ARMS
           17020834         5/1LIBOR  IO                ARMS
           17020672         5/1LIBOR  IO                ARMS
           17020835         5/1LIBOR  IO                ARMS
           17020673         5/1LIBOR                    ARMS
           17020836         5/1LIBOR  IO                ARMS
           17020674         5/1LIBOR  IO                ARMS
           17020837         5/1LIBOR  IO                ARMS
           17020675         5/1LIBOR  IO                ARMS
           17020838         5/1LIBOR  IO                ARMS
           17020676         5/1LIBOR  IO                ARMS
           17020839         5/1LIBOR  IO                ARMS
           17020677         5/6LIBOR  IO                ARMS
           17020678         5/6LIBOR  IO                ARMS
           17020679         5/6LIBOR  IO                ARMS
           17020840         5/1LIBOR  IO                ARMS
           17020841         5/1LIBOR  IO                ARMS
           17020842         5/1LIBOR  IO                ARMS
           17020680         5/6LIBOR  IO                ARMS
           17020843         5/1LIBOR  IO                ARMS
           17020681         5/1LIBOR  IO                ARMS
           17020844         5/1LIBOR  IO                ARMS
           17020682         5/1LIBOR  IO                ARMS
           17020845         5/1LIBOR  IO                ARMS
           17020683         5/1LIBOR  IO                ARMS
           17020846         5/1LIBOR  IO                ARMS
           17020684         5/1LIBOR  IO                ARMS
           17020685         5/1LIBOR                    ARMS
           17020848         5/1LIBOR  IO                ARMS
           17020686         5/1LIBOR  IO                ARMS
           17020849         5/1LIBOR  IO                ARMS
           17020687         5/1LIBOR  IO                ARMS
           17020688         5/1LIBOR  IO                ARMS
           17020689         5/1LIBOR  IO                ARMS
           17020850         5/1LIBOR  IO                ARMS
           17020657         5/1LIBOR  IO                ARMS
           17020495         5/1LIBOR  IO                ARMS
           17020819         5/1LIBOR  IO                ARMS
           17020658         5/1LIBOR  IO                ARMS
           17020496         5/1LIBOR  IO                ARMS
           17020659         5/1LIBOR  IO                ARMS
           17020497         5/1LIBOR  IO                ARMS
           17020492         5/1LIBOR  IO                ARMS
           17020816         5/1LIBOR  IO                ARMS
           17020655         5/1LIBOR  IO                ARMS
           17020493         5/1LIBOR  IO                ARMS
           17020817         5/1LIBOR  IO                ARMS
           17020656         5/1LIBOR  IO                ARMS
           17020494         5/1LIBOR  IO                ARMS
           17020812         5/1LIBOR  IO                ARMS
           17020651         5/1LIBOR  IO                ARMS
           17020813         5/1LIBOR  IO                ARMS
           17020814         5/1LIBOR  IO                ARMS
           17020652         5/1LIBOR  IO                ARMS
           17020490         5/1LIBOR  IO                ARMS
           17020491         5/1LIBOR  IO                ARMS
           17020815         5/1LIBOR  IO                ARMS
           17020654         5/1LIBOR  IO                ARMS
           17020500         5/1LIBOR  IO                ARMS
           17020501         5/1LIBOR  IO                ARMS
           17020502         5/6LIBOR                    ARMS
           17020503         5/1LIBOR  IO                ARMS
           17020504         5/1LIBOR  IO                ARMS
           17020505         5/1LIBOR  IO                ARMS
           17020506         5/1LIBOR                    ARMS
           17020507         5/1LIBOR  IO                ARMS
           17020508         5/1LIBOR  IO                ARMS
           17020509         5/1LIBOR  IO                ARMS
           17020510         5/1LIBOR  IO                ARMS
           17020511         5/1LIBOR  IO                ARMS
           17020512         5/1LIBOR  IO                ARMS
           17020513         5/1LIBOR  IO                ARMS
           17020514         5/1LIBOR  IO                ARMS
           17020515         5/1LIBOR  IO                ARMS
           17020516         5/1LIBOR  IO                ARMS
           17020517         5/1LIBOR                    ARMS
           17020518         5/1LIBOR  IO                ARMS
           17020519         5/1LIBOR  IO                ARMS
           17020520         5/1LIBOR  IO                ARMS
           17020521         5/6LIBOR  IO                ARMS
           17020522         5/1LIBOR  IO                ARMS
           17020523         5/1LIBOR                    ARMS
           17020524         5/1LIBOR  IO                ARMS
           17020525         5/1LIBOR  IO                ARMS
           17020526         5/1LIBOR  IO                ARMS
           17020527         5/1LIBOR  IO                ARMS
           17020528         5/1LIBOR  IO                ARMS
           17020529         5/1LIBOR  IO                ARMS
           17020530         5/1LIBOR  IO                ARMS
           17020531         5/1LIBOR  IO                ARMS
           17020532         5/6LIBOR                    ARMS
           17020533         5/1LIBOR  IO                ARMS
           17020534         5/1LIBOR                    ARMS
           17020535         5/1LIBOR                    ARMS
           17020536         5/1LIBOR                    ARMS
           17020537         5/1LIBOR  IO                ARMS
           17020538         5/1LIBOR  IO                ARMS
           17020539         5/1LIBOR  IO                ARMS
           17020700         5/1LIBOR  IO                ARMS
           17020701         5/1LIBOR  IO                ARMS
           17020702         5/1LIBOR  IO                ARMS
           17020540         5/1LIBOR                    ARMS
           17020703         5/1LIBOR  IO                ARMS
           17020541         5/1LIBOR  IO                ARMS
           17020704         5/1LIBOR  IO                ARMS
           17020542         5/1LIBOR                    ARMS
           17020705         5/1LIBOR  IO                ARMS
           17020543         5/1LIBOR  IO                ARMS
           17020706         5/1LIBOR  IO                ARMS
           17020544         5/1LIBOR  IO                ARMS
           17020707         5/1LIBOR  IO                ARMS
           17020545         5/1LIBOR  IO                ARMS
           17020708         5/1LIBOR  IO                ARMS
           17020546         5/1LIBOR  IO                ARMS
           17020547         5/1LIBOR  IO                ARMS
           17020385         5/1LIBOR  IO                ARMS
           17020548         5/1LIBOR                    ARMS
           17020386         5/1LIBOR  IO                ARMS
           17020549         5/1LIBOR  IO                ARMS
           17020387         5/1LIBOR  IO                ARMS
           17020388         5/1LIBOR  IO                ARMS
           17020389         5/1LIBOR  IO                ARMS
           17020710         5/1LIBOR                    ARMS
           17020711         5/1LIBOR  IO                ARMS
           17020550         5/1LIBOR  IO                ARMS
           17020712         5/1LIBOR  IO                ARMS
           17020551         5/1LIBOR  IO                ARMS
           17020713         5/1LIBOR                    ARMS
           17020714         5/1LIBOR                    ARMS
           17020552         5/1LIBOR  IO                ARMS
           17020715         5/1LIBOR  IO                ARMS
           17020553         5/1LIBOR  IO                ARMS
           17020391         5/1LIBOR  IO                ARMS
           17020392         5/1LIBOR  IO                ARMS
           17020554         5/1LIBOR  IO                ARMS
           17020716         5/1LIBOR  IO                ARMS
           17020717         5/1LIBOR  IO                ARMS
           17020555         5/1LIBOR  IO                ARMS
           17020393         5/1LIBOR  IO                ARMS
           17020718         5/1LIBOR  IO                ARMS
           17020556         5/1LIBOR  IO                ARMS
           17020394         5/1LIBOR  IO                ARMS
           17020395         5/1LIBOR  IO                ARMS
           17020557         5/1LIBOR  IO                ARMS
           17020719         5/1LIBOR  IO                ARMS
           17020558         5/1LIBOR                    ARMS
           17020397         5/1LIBOR  IO                ARMS
           17020559         5/1LIBOR  IO                ARMS
           17020398         5/1LIBOR  IO                ARMS
           17020399         5/1LIBOR  IO                ARMS
           17020720         5/1LIBOR  IO                ARMS
           17020721         5/1LIBOR  IO                ARMS
           17020722         5/1LIBOR  IO                ARMS
           17020560         5/1LIBOR  IO                ARMS
           17020723         5/1LIBOR  IO                ARMS
           17020561         5/1LIBOR  IO                ARMS
           17020724         5/1LIBOR                    ARMS
           17020562         5/1LIBOR  IO                ARMS
           17020725         5/1LIBOR  IO                ARMS
           17020563         5/1LIBOR  IO                ARMS
           17020726         5/1LIBOR  IO                ARMS
           17020564         5/1LIBOR  IO                ARMS
           17020727         5/1LIBOR  IO                ARMS
           17020565         5/1LIBOR  IO                ARMS
           17020728         5/1LIBOR  IO                ARMS
           17020566         5/1LIBOR  IO                ARMS
           17020729         5/1LIBOR                    ARMS
           17020567         5/1LIBOR                    ARMS
           17020568         5/1LIBOR  IO                ARMS
           17020569         5/1LIBOR  IO                ARMS
           17020730         5/1LIBOR                    ARMS
           17020731         5/1LIBOR  IO                ARMS
           17020732         5/1LIBOR  IO                ARMS
           17020570         5/1LIBOR  IO                ARMS
           17020733         5/1LIBOR  IO                ARMS
           17020571         5/1LIBOR  IO                ARMS
           17020734         5/1LIBOR  IO                ARMS
           17020572         5/1LIBOR  IO                ARMS
           17020735         5/1LIBOR  IO                ARMS
           17020573         5/1LIBOR  IO                ARMS
           17020736         5/1LIBOR  IO                ARMS
           17020487         5/6LIBOR                    ARMS
           17020488         5/1LIBOR  IO                ARMS
           17020489         5/1LIBOR  IO                ARMS
           17020810         5/1LIBOR  IO                ARMS
           17020811         5/1LIBOR  IO                ARMS
           17020650         5/6LIBOR  IO                ARMS
           17020791         5/1LIBOR  IO                ARMS
           17020792         5/1LIBOR  IO                ARMS
           17020793         5/1LIBOR  IO                ARMS
           17020794         5/1LIBOR  IO                ARMS
           17020795         5/1LIBOR  IO                ARMS
           17020796         5/1LIBOR  IO                ARMS
           17020797         5/1LIBOR  IO                ARMS
           17020798         5/1LIBOR  IO                ARMS
           17020799         5/1LIBOR  IO                ARMS
           17020790         5/1LIBOR  IO                ARMS
           17020646         5/1LIBOR  IO                ARMS
           17020484         5/1LIBOR  IO                ARMS
           17020808         5/1LIBOR  IO                ARMS
           17020647         5/1LIBOR  IO                ARMS
           17020485         5/1LIBOR  IO                ARMS
           17020809         5/1LIBOR  IO                ARMS
           17020648         5/1LIBOR  IO                ARMS
           17020486         5/6LIBOR  IO                ARMS
           17020649         5/1LIBOR                    ARMS
           17020781         5/1LIBOR  IO                ARMS
           17020782         5/1LIBOR  IO                ARMS
           17020783         5/1LIBOR  IO                ARMS
           17020784         5/1LIBOR  IO                ARMS
           17020785         5/1LIBOR  IO                ARMS
           17020786         5/1LIBOR  IO                ARMS
           17020787         5/1LIBOR  IO                ARMS
           17020788         5/1LIBOR  IO                ARMS
           17020789         5/1LIBOR  IO                ARMS
           17020612         5/1LIBOR  IO                ARMS
           17020450         5/1LIBOR  IO                ARMS
           17020613         5/1LIBOR  IO                ARMS
           17020451         5/1LIBOR  IO                ARMS
           17020614         5/1LIBOR                    ARMS
           17020452         5/1LIBOR                    ARMS
           17020615         5/1LIBOR                    ARMS
           17020453         5/1LIBOR  IO                ARMS
           17020616         5/1LIBOR  IO                ARMS
           17020454         5/1LIBOR                    ARMS
           17020617         5/1LIBOR  IO                ARMS
           17020455         5/1LIBOR  IO                ARMS
           17020456         5/1LIBOR                    ARMS
           17020618         5/6LIBOR                    ARMS
           17020619         5/1LIBOR  IO                ARMS
           17020457         5/1LIBOR  IO                ARMS
           17020458         5/1LIBOR                    ARMS
           17020459         5/1LIBOR  IO                ARMS
           17020620         5/1LIBOR  IO                ARMS
           17020621         5/1LIBOR  IO                ARMS
           17020622         5/1LIBOR  IO                ARMS
           17020460         5/1LIBOR  IO                ARMS
           17020623         5/1LIBOR                    ARMS
           17020461         5/1LIBOR  IO                ARMS
           17020624         5/1LIBOR  IO                ARMS
           17020462         5/1LIBOR  IO                ARMS
           17020625         5/1LIBOR  IO                ARMS
           17020463         5/1LIBOR  IO                ARMS
           17020626         5/1LIBOR  IO                ARMS
           17020464         5/1LIBOR  IO                ARMS
           17020627         5/1LIBOR  IO                ARMS
           17020465         5/1LIBOR  IO                ARMS
           17020628         5/1LIBOR  IO                ARMS
           17020466         5/1LIBOR  IO                ARMS
           17020629         5/1LIBOR  IO                ARMS
           17020467         5/1LIBOR  IO                ARMS
           17020468         5/1LIBOR  IO                ARMS
           17020469         5/1LIBOR  IO                ARMS
           17020630         5/1LIBOR  IO                ARMS
           17020631         5/1LIBOR  IO                ARMS
           17020632         5/1LIBOR  IO                ARMS
           17020470         5/1LIBOR  IO                ARMS
           17020633         5/1LIBOR  IO                ARMS
           17020471         5/1LIBOR  IO                ARMS
           17020634         5/1LIBOR  IO                ARMS
           17020472         5/1LIBOR  IO                ARMS
           17020635         5/1LIBOR                    ARMS
           17020473         5/1LIBOR  IO                ARMS
           17020636         5/6LIBOR  IO                ARMS
           17020474         5/1LIBOR  IO                ARMS
           17020637         5/1LIBOR  IO                ARMS
           17020475         5/1LIBOR                    ARMS
           17020638         5/1LIBOR  IO                ARMS
           17020476         5/1LIBOR  IO                ARMS
           17020477         5/1LIBOR  IO                ARMS
           17020478         5/6LIBOR  IO                ARMS
           17020479         5/1LIBOR  IO                ARMS
           17020800         5/1LIBOR  IO                ARMS
           17020801         5/1LIBOR  IO                ARMS
           17020640         5/1LIBOR  IO                ARMS
           17020802         5/1LIBOR  IO                ARMS
           17020641         5/1LIBOR  IO                ARMS
           17020803         5/1LIBOR  IO                ARMS
           17020642         5/1LIBOR  IO                ARMS
           17020480         5/1LIBOR  IO                ARMS
           17020804         5/1LIBOR  IO                ARMS
           17020643         5/1LIBOR                    ARMS
           17020481         5/1LIBOR  IO                ARMS
           17020805         5/1LIBOR  IO                ARMS
           17020644         5/1LIBOR  IO                ARMS
           17020482         5/1LIBOR  IO                ARMS
           17020806         5/1LIBOR  IO                ARMS
           17020645         5/1LIBOR                    ARMS
           17020483         5/1LIBOR  IO                ARMS
           17020807         5/1LIBOR  IO                ARMS
           17020436         5/1LIBOR  IO                ARMS
           17020437         5/1LIBOR  IO                ARMS
           17020438         5/1LIBOR  IO                ARMS
           17020439         5/1LIBOR                    ARMS
           17020600         5/1LIBOR  IO                ARMS
           17020601         5/1LIBOR  IO                ARMS
           17020602         5/1LIBOR  IO                ARMS
           17020440         5/1LIBOR  IO                ARMS
           17020603         5/1LIBOR  IO                ARMS
           17020441         5/1LIBOR  IO                ARMS
           17020604         5/1LIBOR  IO                ARMS
           17020442         5/1LIBOR  IO                ARMS
           17020605         5/1LIBOR  IO                ARMS
           17020606         5/1LIBOR  IO                ARMS
           17020444         5/1LIBOR  IO                ARMS
           17020607         5/1LIBOR  IO                ARMS
           17020445         5/6LIBOR  IO                ARMS
           17020608         5/1LIBOR  IO                ARMS
           17020446         5/1LIBOR  IO                ARMS
           17020609         5/1LIBOR  IO                ARMS
           17020447         5/1LIBOR  IO                ARMS
           17020448         5/1LIBOR                    ARMS
           17020449         5/1LIBOR  IO                ARMS
           17020610         5/1LIBOR  IO                ARMS
           17020611         5/1LIBOR  IO                ARMS
           17020771         5/1LIBOR  IO                ARMS
           17020772         5/1LIBOR  IO                ARMS
           17020773         5/1LIBOR  IO                ARMS
           17020774         5/1LIBOR  IO                ARMS
           17020775         5/1LIBOR  IO                ARMS
           17020777         5/1LIBOR  IO                ARMS
           17020778         5/1LIBOR  IO                ARMS
           17020779         5/1LIBOR  IO                ARMS
           17020780         5/1LIBOR  IO                ARMS
           17020400         5/1LIBOR  IO                ARMS
           17020401         5/1LIBOR                    ARMS
           17020402         5/1LIBOR  IO                ARMS
           17020403         5/1LIBOR  IO                ARMS
           17020404         5/1LIBOR  IO                ARMS
           17020405         5/1LIBOR  IO                ARMS
           17020406         5/1LIBOR  IO                ARMS
           17020407         5/1LIBOR  IO                ARMS
           17020408         5/1LIBOR  IO                ARMS
           17020409         5/1LIBOR  IO                ARMS
           17020410         5/1LIBOR  IO                ARMS
           17020411         5/1LIBOR  IO                ARMS
           17020412         5/1LIBOR  IO                ARMS
           17020413         5/1LIBOR  IO                ARMS
           17020415         5/1LIBOR  IO                ARMS
           17020416         5/1LIBOR  IO                ARMS
           17020417         5/1LIBOR  IO                ARMS
           17020418         5/1LIBOR  IO                ARMS
           17020419         5/1LIBOR  IO                ARMS
           17020420         5/1LIBOR  IO                ARMS
           17020421         5/1LIBOR  IO                ARMS
           17020422         5/1LIBOR                    ARMS
           17020423         5/1LIBOR  IO                ARMS
           17020424         5/1LIBOR  IO                ARMS
           17020425         5/1LIBOR  IO                ARMS
           17020427         5/1LIBOR  IO                ARMS
           17020428         5/1LIBOR  IO                ARMS
           17020429         5/1LIBOR  IO                ARMS
           17020430         5/1LIBOR  IO                ARMS
           17020431         5/1LIBOR  IO                ARMS
           17020432         5/1LIBOR  IO                ARMS
           17020433         5/1LIBOR  IO                ARMS
           17020434         5/1LIBOR  IO                ARMS
           17020761         5/1LIBOR  IO                ARMS
           17020762         5/1LIBOR  IO                ARMS
           17020763         5/1LIBOR  IO                ARMS
           17020764         5/1LIBOR  IO                ARMS
           17020765         5/1LIBOR  IO                ARMS
           17020766         5/1LIBOR  IO                ARMS
           17020767         5/1LIBOR  IO                ARMS
           17020768         5/1LIBOR  IO                ARMS
           17020769         5/1LIBOR  IO                ARMS
           17020770         5/1LIBOR  IO                ARMS
           17020851         5/1LIBOR  IO                ARMS
           17020852         5/1LIBOR  IO                ARMS
           17020690         5/1LIBOR  IO                ARMS
           17020853         5/1LIBOR  IO                ARMS
           17020691         5/1LIBOR  IO                ARMS
           17020854         5/1LIBOR  IO                ARMS
           17020692         5/1LIBOR  IO                ARMS
           17020855         5/1LIBOR  IO                ARMS
           17020693         5/1LIBOR  IO                ARMS
           17020856         5/1LIBOR  IO                ARMS
           17020694         5/6LIBOR                    ARMS
           17020857         5/1LIBOR  IO                ARMS
           17020695         5/1LIBOR  IO                ARMS
           17020858         5/1LIBOR  IO                ARMS
           17020696         5/1LIBOR  IO                ARMS
           17020859         5/1LIBOR  IO                ARMS
           17020697         5/1LIBOR  IO                ARMS
           17020698         5/1LIBOR  IO                ARMS
           17020699         5/1LIBOR  IO                ARMS
           17020860         5/1LIBOR  IO                ARMS
           17020861         5/1LIBOR  IO                ARMS
           17020862         5/1LIBOR  IO                ARMS
           17020740         5/1LIBOR                    ARMS
           17020741         5/1LIBOR  IO                ARMS
           17020742         5/1LIBOR                    ARMS
           17020580         5/1LIBOR  IO                ARMS
           17020743         5/1LIBOR  IO                ARMS
           17020581         5/1LIBOR  IO                ARMS
           17020744         5/1LIBOR  IO                ARMS
           17020582         5/1LIBOR  IO                ARMS
           17020745         5/1LIBOR  IO                ARMS
           17020583         5/1LIBOR  IO                ARMS
           17020746         5/1LIBOR  IO                ARMS
           17020584         5/1LIBOR  IO                ARMS
           17020747         5/1LIBOR  IO                ARMS
           17020585         5/1LIBOR  IO                ARMS
           17020748         5/1LIBOR  IO                ARMS
           17020586         5/1LIBOR  IO                ARMS
           17020749         5/1LIBOR  IO                ARMS
           17020587         5/1LIBOR  IO                ARMS
           17020588         5/1LIBOR  IO                ARMS
           17020589         5/1LIBOR  IO                ARMS
           17020750         5/1LIBOR                    ARMS
           17020751         5/1LIBOR  IO                ARMS
           17020590         5/1LIBOR  IO                ARMS
           17020752         5/1LIBOR  IO                ARMS
           17020591         5/1LIBOR  IO                ARMS
           17020753         5/1LIBOR  IO                ARMS
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           17120498         10/1LIBOR IO                ARMS
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           17120514         10/1LIBOR IO                ARMS
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           17120523         10/1LIBOR IO                ARMS
           17120524         10/1LIBOR IO                ARMS
           17120525         10/1LIBOR                   ARMS
           17120500         10/1LIBOR IO                ARMS
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           17120502         10/1LIBOR IO                ARMS
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           17120506         10/1LIBOR IO                ARMS
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           17120508         10/1LIBOR                   ARMS
           17120509         10/1LIBOR IO                ARMS
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           17149111         10/1LIBOR IO                ARMS
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           17149113         10/1LIBOR IO                ARMS
           17149103         10/1LIBOR IO                ARMS
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           17181086         5/1LIBOR  IO                ARMS
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           17203317         5/6LIBOR  IO                ARMS
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           17172057         5/6LIBOR  IO                ARMS
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           17171990         5/1LIBOR  IO                ARMS
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           17171922         5/1LIBOR  IO                ARMS
           17203303         5/6LIBOR  IO                ARMS
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           17203436         5/1LIBOR  IO                ARMS
           17203333         5/1LIBOR  IO                ARMS
           17203316         5/1LIBOR  IO                ARMS
           17203305         5/1LIBOR  IO                ARMS
           17203292         5/1LIBOR  IO                ARMS
           17203419         5/1LIBOR  IO                ARMS
           17203433         5/1LIBOR  IO                ARMS
           17203438         5/1LIBOR  IO                ARMS
           17203284         5/6LIBOR  IO                ARMS
           17203275         5/1LIBOR  IO                ARMS
           17203411         5/1LIBOR  IO                ARMS
           17203324         5/1LIBOR  IO                ARMS
           17203408         5/1LIBOR  IO                ARMS
           17203300         5/1LIBOR  IO                ARMS
           17203273         5/1LIBOR  IO                ARMS
           17203446         5/1LIBOR  IO                ARMS
           17203415         5/1LIBOR  IO                ARMS
           17203389         5/1LIBOR  IO                ARMS
           17203398         5/1LIBOR  IO                ARMS
           17203274         5/6LIBOR  IO                ARMS
           17203318         5/1LIBOR  IO                ARMS
           17203391         5/1LIBOR  IO                ARMS
           17203399         5/1LIBOR  IO                ARMS
           17203450         5/1LIBOR                    ARMS
           17203447         5/1LIBOR  IO                ARMS
           17203453         5/1LIBOR  IO                ARMS
           17203428         5/1LIBOR  IO                ARMS
           17203313         5/1LIBOR                    ARMS
           17203431         5/1LIBOR  IO                ARMS
           17203417         5/1LIBOR  IO                ARMS
           17203343         5/1LIBOR  IO                ARMS
           17203360         5/1LIBOR  IO                ARMS
           17203416         5/1LIBOR  IO                ARMS
           17203406         5/1LIBOR  IO                ARMS
           17203367         5/1LIBOR  IO                ARMS
           17203380         5/1LIBOR  IO                ARMS
           17203286         5/1LIBOR                    ARMS
           17203330         5/1LIBOR  IO                ARMS
           17203249         5/1LIBOR  IO                ARMS
           17203342         5/1LIBOR  IO                ARMS
           17203346         5/1LIBOR  IO                ARMS
           17203264         5/1LIBOR  IO                ARMS
           17203322         5/1LIBOR  IO                ARMS
           17203397         5/1LIBOR  IO                ARMS
           17203407         5/1LIBOR  IO                ARMS
           17203336         5/1LIBOR  IO                ARMS
           17203374         5/1LIBOR  IO                ARMS
           17203329         5/1LIBOR                    ARMS
           17203327         5/1LIBOR  IO                ARMS
           17203369         5/1LIBOR  IO                ARMS
           17203335         5/1LIBOR  IO                ARMS
           17203291         5/1LIBOR                    ARMS
           17203289         5/1LIBOR  IO                ARMS
           17203372         5/1LIBOR  IO                ARMS
           17203296         5/1LIBOR  IO                ARMS
           17203254         5/1LIBOR                    ARMS
           17203444         5/1LIBOR  IO                ARMS
           17203365         5/1LIBOR  IO                ARMS
           17203259         5/1LIBOR  IO                ARMS
           17203366         5/1LIBOR  IO                ARMS
           17203353         5/1LIBOR  IO                ARMS
           17203285         5/1LIBOR  IO                ARMS
           17203352         5/1LIBOR  IO                ARMS
           17203306         5/1LIBOR  IO                ARMS
           17203414         5/1LIBOR                    ARMS
           17203393         5/1LIBOR  IO                ARMS
           17203382         5/1LIBOR  IO                ARMS
           17203302         5/1LIBOR  IO                ARMS
           17203356         5/1LIBOR  IO                ARMS
           17203387         5/1LIBOR  IO                ARMS
           17203377         5/1LIBOR  IO                ARMS
           17203308         5/6LIBOR  IO                ARMS
           17203276         5/1LIBOR                    ARMS
           17203288         5/1LIBOR                    ARMS
           17203378         5/1LIBOR  IO                ARMS
           17203376         5/1LIBOR  IO                ARMS
           17203370         5/1LIBOR  IO                ARMS
           17203248         5/1LIBOR                    ARMS
           17203341         5/1LIBOR  IO                ARMS
           17203334         5/1LIBOR  IO                ARMS
           17203395         5/1LIBOR  IO                ARMS
           17203332         5/1LIBOR  IO                ARMS
           17203309         5/6LIBOR  IO                ARMS
           17203375         5/1LIBOR  IO                ARMS
           17203279         5/1LIBOR  IO                ARMS
           17203386         5/1LIBOR  IO                ARMS
           17203311         5/1LIBOR  IO                ARMS
           17203420         5/1LIBOR  IO                ARMS
           17203402         5/1LIBOR  IO                ARMS
           17203439         5/1LIBOR  IO                ARMS
           17203297         5/1LIBOR                    ARMS
           17203282         5/1LIBOR  IO                ARMS
           17203368         5/1LIBOR  IO                ARMS
           17203394         5/1LIBOR  IO                ARMS
           17203400         5/1LIBOR  IO                ARMS
           17203355         5/1LIBOR  IO                ARMS
           17203404         5/1LIBOR                    ARMS
           17203426         5/1LIBOR                    ARMS
           17203298         5/1LIBOR  IO                ARMS
           17203304         5/1LIBOR  IO                ARMS
           17203434         5/1LIBOR  IO                ARMS
           17171962         5/1LIBOR  IO                ARMS
           17171963         5/1LIBOR  IO                ARMS
           17171966         5/1LIBOR  IO                ARMS
           17171967         5/1LIBOR                    ARMS
           17171968         5/1LIBOR  IO                ARMS
           17171969         5/1LIBOR  IO                ARMS
           17171970         5/1LIBOR  IO                ARMS
           17171971         5/1LIBOR  IO                ARMS
           17171973         5/1LIBOR  IO                ARMS
           17171974         5/1LIBOR  IO                ARMS
           17171978         5/1LIBOR                    ARMS
           17171982         5/1LIBOR  IO                ARMS
           17171985         5/6LIBOR  IO                ARMS
           17171986         5/1LIBOR  IO                ARMS
           17171988         5/1LIBOR  IO                ARMS
           17171989         5/1LIBOR  IO                ARMS
           17171991         5/1LIBOR  IO                ARMS
           17171993         5/1LIBOR  IO                ARMS
           17171996         5/1LIBOR  IO                ARMS
           17171999         5/1LIBOR  IO                ARMS
           17171950         5/6LIBOR  IO                ARMS
           17171955         5/1LIBOR  IO                ARMS
           17171916         5/1LIBOR  IO                ARMS
           17171917         5/1LIBOR  IO                ARMS
           17171918         5/1LIBOR  IO                ARMS
           17171919         5/1LIBOR                    ARMS
           17171920         5/1LIBOR  IO                ARMS
           17171921         5/1LIBOR  IO                ARMS
           17171923         5/1LIBOR  IO                ARMS
           17171925         5/1LIBOR  IO                ARMS
           17171927         5/1LIBOR  IO                ARMS
           17171933         5/1LIBOR  IO                ARMS
           17171935         5/1LIBOR  IO                ARMS
           17171937         5/1LIBOR  IO                ARMS
           17171939         5/1LIBOR  IO                ARMS
           17171945         5/1LIBOR  IO                ARMS
           17171949         5/1LIBOR  IO                ARMS
           17175070         5/1LIBOR  IO                ARMS
           17175072         5/1LIBOR  IO                ARMS
           17175056         5/1LIBOR  IO                ARMS
           17175057         5/1LIBOR  IO                ARMS
           17175059         5/1LIBOR                    ARMS
           17175060         5/1LIBOR                    ARMS
           17175061         5/1LIBOR  IO                ARMS
           17175062         5/1LIBOR  IO                ARMS
           17175063         5/1LIBOR  IO                ARMS
           17175064         5/1LIBOR  IO                ARMS
           17175065         5/1LIBOR  IO                ARMS
           17175066         5/1LIBOR  IO                ARMS
           17175067         5/1LIBOR                    ARMS
           17175068         5/1LIBOR  IO                ARMS
           17175069         5/1LIBOR  IO                ARMS
           17175031         5/1LIBOR  IO                ARMS
           17175032         5/1LIBOR  IO                ARMS
           17175034         5/1LIBOR                    ARMS
           17175035         5/1LIBOR  IO                ARMS
           17175036         5/1LIBOR  IO                ARMS
           17175037         5/1LIBOR  IO                ARMS
           17175040         5/1LIBOR                    ARMS
           17175041         5/1LIBOR  IO                ARMS
           17175042         5/1LIBOR  IO                ARMS
           17175043         5/1LIBOR  IO                ARMS
           17175045         5/1LIBOR  IO                ARMS
           17175046         5/1LIBOR  IO                ARMS
           17175047         5/1LIBOR  IO                ARMS
           17175050         5/1LIBOR  IO                ARMS
           17175051         5/1LIBOR  IO                ARMS
           17175052         5/1LIBOR  IO                ARMS
           17175053         5/1LIBOR  IO                ARMS
           17175024         5/6LIBOR  IO                ARMS
           17175025         5/1LIBOR  IO                ARMS
           17175026         5/1LIBOR  IO                ARMS
           17175027         5/1LIBOR  IO                ARMS
           17175028         5/1LIBOR  IO                ARMS
           17175029         5/1LIBOR  IO                ARMS
           17172120         5/1LIBOR  IO                ARMS
           17172121         5/1LIBOR  IO                ARMS
           17172122         5/1LIBOR  IO                ARMS
           17172123         5/1LIBOR                    ARMS
           17172124         5/1LIBOR  IO                ARMS
           17172128         5/1LIBOR  IO                ARMS
           17172129         5/1LIBOR  IO                ARMS
           17172131         5/1LIBOR  IO                ARMS
           17172134         5/1LIBOR  IO                ARMS
           17172135         5/1LIBOR  IO                ARMS
           17172137         5/1LIBOR  IO                ARMS
           17172138         5/1LIBOR  IO                ARMS
           17172139         5/1LIBOR  IO                ARMS
           17172100         5/1LIBOR  IO                ARMS
           17172101         5/1LIBOR                    ARMS
           17172102         5/1LIBOR  IO                ARMS
           17172103         5/1LIBOR  IO                ARMS
           17172105         5/1LIBOR  IO                ARMS
           17172106         5/1LIBOR  IO                ARMS
           17172107         5/1LIBOR                    ARMS
           17172108         5/1LIBOR                    ARMS
           17172109         5/1LIBOR  IO                ARMS
           17172110         5/1LIBOR  IO                ARMS
           17172111         5/1LIBOR                    ARMS
           17172113         5/1LIBOR  IO                ARMS
           17172115         5/1LIBOR  IO                ARMS
           17172116         5/1LIBOR  IO                ARMS
           17172117         5/1LIBOR  IO                ARMS
           17172119         5/1LIBOR  IO                ARMS
           17181161         5/1LIBOR  IO                ARMS
           17172090         5/1LIBOR  IO                ARMS
           17181162         5/1LIBOR  IO                ARMS
           17172091         5/1LIBOR  IO                ARMS
           17172092         5/1LIBOR  IO                ARMS
           17172093         5/1LIBOR  IO                ARMS
           17172094         5/1LIBOR  IO                ARMS
           17172095         5/1LIBOR  IO                ARMS
           17172097         5/1LIBOR  IO                ARMS
           17172098         5/1LIBOR  IO                ARMS
           17172099         5/1LIBOR  IO                ARMS
           17181150         5/1LIBOR  IO                ARMS
           17181151         5/1LIBOR                    ARMS
           17172080         5/1LIBOR  IO                ARMS
           17181152         5/1LIBOR  IO                ARMS
           17172081         5/1LIBOR  IO                ARMS
           17181153         5/1LIBOR                    ARMS
           17172082         5/1LIBOR  IO                ARMS
           17181154         5/1LIBOR  IO                ARMS
           17172083         5/1LIBOR                    ARMS
           17172085         5/1LIBOR  IO                ARMS
           17181158         5/1LIBOR  IO                ARMS
           17172087         5/1LIBOR  IO                ARMS
           17181159         5/1LIBOR  IO                ARMS
           17172088         5/1LIBOR  IO                ARMS
           17172089         5/1LIBOR  IO                ARMS
           17172060         5/1LIBOR  IO                ARMS
           17181132         5/1LIBOR                    ARMS
           17181133         5/1LIBOR  IO                ARMS
           17172062         5/1LIBOR  IO                ARMS
           17181134         5/1LIBOR                    ARMS
           17172063         5/1LIBOR  IO                ARMS
           17181135         5/1LIBOR                    ARMS
           17181136         5/1LIBOR  IO                ARMS
           17172066         5/1LIBOR  IO                ARMS
           17181138         5/1LIBOR  IO                ARMS
           17172067         5/1LIBOR  IO                ARMS
           17172069         5/1LIBOR  IO                ARMS
           17181140         5/1LIBOR  IO                ARMS
           17172070         5/1LIBOR  IO                ARMS
           17172071         5/1LIBOR                    ARMS
           17181143         5/1LIBOR  IO                ARMS
           17172072         5/1LIBOR  IO                ARMS
           17181145         5/1LIBOR  IO                ARMS
           17181146         5/1LIBOR                    ARMS
           17172075         5/1LIBOR  IO                ARMS
           17181147         5/1LIBOR  IO                ARMS
           17172076         5/1LIBOR                    ARMS
           17181148         5/1LIBOR  IO                ARMS
           17172077         5/1LIBOR  IO                ARMS
           17172079         5/1LIBOR  IO                ARMS
           17181130         5/1LIBOR  IO                ARMS
           17181131         5/1LIBOR  IO                ARMS
           17181121         5/1LIBOR                    ARMS
           17172050         5/1LIBOR                    ARMS
           17181122         5/1LIBOR  IO                ARMS
           17181123         5/1LIBOR  IO                ARMS
           17172052         5/1LIBOR  IO                ARMS
           17181124         5/1LIBOR  IO                ARMS
           17181125         5/1LIBOR  IO                ARMS
           17172054         5/1LIBOR  IO                ARMS
           17181126         5/1LIBOR  IO                ARMS
           17172056         5/1LIBOR  IO                ARMS
           17172059         5/1LIBOR  IO                ARMS
           17172047         5/1LIBOR  IO                ARMS
           17181119         5/1LIBOR  IO                ARMS
           17172021         5/1LIBOR  IO                ARMS
           17172024         5/1LIBOR                    ARMS
           17172025         5/1LIBOR  IO                ARMS
           17172026         5/1LIBOR                    ARMS
           17172027         5/1LIBOR  IO                ARMS
           17172028         5/1LIBOR  IO                ARMS
           17172029         5/1LIBOR  IO                ARMS
           17181100         5/1LIBOR  IO                ARMS
           17181101         5/1LIBOR  IO                ARMS
           17172030         5/1LIBOR  IO                ARMS
           17181102         5/1LIBOR  IO                ARMS
           17172031         5/1LIBOR  IO                ARMS
           17172032         5/1LIBOR                    ARMS
           17181104         5/1LIBOR  IO                ARMS
           17181105         5/1LIBOR  IO                ARMS
           17172034         5/1LIBOR  IO                ARMS
           17181106         5/1LIBOR  IO                ARMS
           17172035         5/1LIBOR  IO                ARMS
           17181107         5/1LIBOR  IO                ARMS
           17181108         5/1LIBOR  IO                ARMS
           17172037         5/1LIBOR  IO                ARMS
           17181109         5/1LIBOR  IO                ARMS
           17172038         5/1LIBOR  IO                ARMS
           17181110         5/1LIBOR  IO                ARMS
           17181111         5/1LIBOR  IO                ARMS
           17172040         5/1LIBOR  IO                ARMS
           17181112         5/1LIBOR  IO                ARMS
           17181113         5/1LIBOR  IO                ARMS
           17172042         5/1LIBOR  IO                ARMS
           17181114         5/1LIBOR  IO                ARMS
           17172043         5/1LIBOR  IO                ARMS
           17181115         5/1LIBOR                    ARMS
           17181116         5/1LIBOR  IO                ARMS
           17172045         5/1LIBOR  IO                ARMS
           17172046         5/1LIBOR  IO                ARMS
           17172017         5/1LIBOR                    ARMS
           17172018         5/1LIBOR                    ARMS
           17172019         5/1LIBOR  IO                ARMS
           17172000         5/1LIBOR  IO                ARMS
           17172006         5/1LIBOR  IO                ARMS
           17172007         5/1LIBOR  IO                ARMS
           17172009         5/1LIBOR  IO                ARMS
           17172011         5/1LIBOR  IO                ARMS
           17172013         5/1LIBOR  IO                ARMS
           17172015         5/1LIBOR  IO                ARMS
           17172016         5/1LIBOR  IO                ARMS
           17181088         5/1LIBOR  IO                ARMS
           17181090         5/1LIBOR  IO                ARMS
           17181092         5/1LIBOR  IO                ARMS
           17181093         5/1LIBOR  IO                ARMS
           17181094         5/1LIBOR  IO                ARMS
           17181095         5/1LIBOR  IO                ARMS
           17181096         5/1LIBOR  IO                ARMS
           17181097         5/1LIBOR  IO                ARMS
           17181099         5/1LIBOR  IO                ARMS
           17181082         5/1LIBOR  IO                ARMS
           17181083         5/1LIBOR  IO                ARMS
           17181084         5/1LIBOR  IO                ARMS
           17181085         5/1LIBOR  IO                ARMS
           17172140         5/1LIBOR  IO                ARMS
           17172141         5/1LIBOR  IO                ARMS
           17172142         5/1LIBOR  IO                ARMS
           17175038         5/1LIBOR  IO                ARMS
           17175039         5/1LIBOR  IO                ARMS
           17175044         5/1LIBOR  IO                ARMS
           17175073         5/1LIBOR  IO                ARMS
           17181098         5/1LIBOR  IO                ARMS
           17181103         5/1LIBOR  IO                ARMS
           17181118         5/1LIBOR  IO                ARMS
           17181128         5/1LIBOR  IO                ARMS
           17181129         5/1LIBOR  IO                ARMS
           17181137         5/1LIBOR  IO                ARMS
           17181139         5/1LIBOR  IO                ARMS
           17181144         5/1LIBOR                    ARMS
           17181149         5/1LIBOR  IO                ARMS
           17181155         5/1LIBOR  IO                ARMS
           17181156         5/1LIBOR  IO                ARMS
           17181157         5/1LIBOR  IO                ARMS
           17181160         5/1LIBOR  IO                ARMS
           17171928         5/1LIBOR  IO                ARMS
           17171929         5/1LIBOR  IO                ARMS
           17171930         5/1LIBOR  IO                ARMS
           17171931         5/1LIBOR  IO                ARMS
           17171932         5/1LIBOR                    ARMS
           17171934         5/1LIBOR  IO                ARMS
           17171936         5/1LIBOR  IO                ARMS
           17171938         5/1LIBOR  IO                ARMS
           17171940         5/1LIBOR  IO                ARMS
           17171941         5/1LIBOR  IO                ARMS
           17171942         5/1LIBOR  IO                ARMS
           17171943         5/1LIBOR  IO                ARMS
           17171944         5/1LIBOR  IO                ARMS
           17171947         5/1LIBOR  IO                ARMS
           17171948         5/1LIBOR  IO                ARMS
           17171953         5/1LIBOR  IO                ARMS
           17171954         5/1LIBOR  IO                ARMS
           17171956         5/1LIBOR  IO                ARMS
           17171958         5/1LIBOR  IO                ARMS
           17171959         5/1LIBOR  IO                ARMS
           17171961         5/1LIBOR  IO                ARMS
           17171964         5/1LIBOR  IO                ARMS
           17171975         5/1LIBOR  IO                ARMS
           17171976         5/1LIBOR  IO                ARMS
           17171977         5/1LIBOR  IO                ARMS
           17171981         5/1LIBOR  IO                ARMS
           17171984         5/1LIBOR  IO                ARMS
           17171994         5/6LIBOR  IO                ARMS
           17171997         5/1LIBOR  IO                ARMS
           17172003         5/1LIBOR  IO                ARMS
           17172058         5/1LIBOR  IO                ARMS
           17175030         5/1LIBOR  IO                ARMS
           17175033         5/1LIBOR  IO                ARMS
           17175055         5/6LIBOR  IO                ARMS
           17181087         5/1LIBOR  IO                ARMS
           17181089         5/1LIBOR  IO                ARMS
           17181091         5/1LIBOR  IO                ARMS
           17181127         5/1LIBOR  IO                ARMS
           17172118         5/1LIBOR  IO                ARMS
           17181142         5/1LIBOR  IO                ARMS

           LOAN_SEQ        PREPAY                  PP_DESC
           17020574         No_PP                   0MPP
           17020737         Prepay                  60MPP
           17020575         No_PP                   0MPP
           17020498         No_PP                   0MPP
           17020499         No_PP                   0MPP
           17020820         Prepay                  60MPP
           17020821         Prepay                  36MPP
           17020660         Prepay                  60MPP
           17020822         No_PP                   0MPP
           17020661         No_PP                   0MPP
           17020823         No_PP                   0MPP
           17020662         Prepay                  12MPP
           17020824         No_PP                   0MPP
           17020663         No_PP                   0MPP
           17020825         No_PP                   0MPP
           17020664         No_PP                   0MPP
           17020826         No_PP                   0MPP
           17020665         No_PP                   0MPP
           17020827         Prepay                  12MPP
           17020828         Prepay                  12MPP
           17020667         No_PP                   0MPP
           17020829         No_PP                   0MPP
           17020668         No_PP                   0MPP
           17020669         No_PP                   0MPP
           17020830         No_PP                   0MPP
           17020831         Prepay                  12MPP
           17020670         No_PP                   0MPP
           17020832         Prepay                  12MPP
           17020833         Prepay                  12MPP
           17020671         No_PP                   0MPP
           17020834         Prepay                  12MPP
           17020672         No_PP                   0MPP
           17020835         Prepay                  12MPP
           17020673         No_PP                   0MPP
           17020836         Prepay                  12MPP
           17020674         No_PP                   0MPP
           17020837         Prepay                  12MPP
           17020675         No_PP                   0MPP
           17020838         No_PP                   0MPP
           17020676         No_PP                   0MPP
           17020839         Prepay                  60MPP
           17020677         Prepay                  12MPP
           17020678         Prepay                  12MPP
           17020679         Prepay                  12MPP
           17020840         Prepay                  60MPP
           17020841         Prepay                  12MPP
           17020842         Prepay                  12MPP
           17020680         No_PP                   0MPP
           17020843         Prepay                  12MPP
           17020681         No_PP                   0MPP
           17020844         Prepay                  12MPP
           17020682         No_PP                   0MPP
           17020845         Prepay                  12MPP
           17020683         No_PP                   0MPP
           17020846         Prepay                  12MPP
           17020684         No_PP                   0MPP
           17020685         No_PP                   0MPP
           17020848         Prepay                  36MPP
           17020686         No_PP                   0MPP
           17020849         Prepay                  36MPP
           17020687         No_PP                   0MPP
           17020688         No_PP                   0MPP
           17020689         No_PP                   0MPP
           17020850         Prepay                  36MPP
           17020657         No_PP                   0MPP
           17020495         No_PP                   0MPP
           17020819         No_PP                   0MPP
           17020658         No_PP                   0MPP
           17020496         No_PP                   0MPP
           17020659         No_PP                   0MPP
           17020497         No_PP                   0MPP
           17020492         No_PP                   0MPP
           17020816         No_PP                   0MPP
           17020655         No_PP                   0MPP
           17020493         No_PP                   0MPP
           17020817         Prepay                  12MPP
           17020656         No_PP                   0MPP
           17020494         No_PP                   0MPP
           17020812         Prepay                  12MPP
           17020651         No_PP                   0MPP
           17020813         No_PP                   0MPP
           17020814         No_PP                   0MPP
           17020652         No_PP                   0MPP
           17020490         No_PP                   0MPP
           17020491         No_PP                   0MPP
           17020815         No_PP                   0MPP
           17020654         No_PP                   0MPP
           17020500         Prepay                  12MPP
           17020501         Prepay                  36MPP
           17020502         No_PP                   0MPP
           17020503         No_PP                   0MPP
           17020504         No_PP                   0MPP
           17020505         No_PP                   0MPP
           17020506         No_PP                   0MPP
           17020507         No_PP                   0MPP
           17020508         No_PP                   0MPP
           17020509         No_PP                   0MPP
           17020510         No_PP                   0MPP
           17020511         No_PP                   0MPP
           17020512         No_PP                   0MPP
           17020513         No_PP                   0MPP
           17020514         No_PP                   0MPP
           17020515         No_PP                   0MPP
           17020516         Prepay                  12MPP
           17020517         No_PP                   0MPP
           17020518         No_PP                   0MPP
           17020519         No_PP                   0MPP
           17020520         No_PP                   0MPP
           17020521         No_PP                   0MPP
           17020522         No_PP                   0MPP
           17020523         No_PP                   0MPP
           17020524         No_PP                   0MPP
           17020525         Prepay                  36MPP
           17020526         No_PP                   0MPP
           17020527         No_PP                   0MPP
           17020528         No_PP                   0MPP
           17020529         No_PP                   0MPP
           17020530         No_PP                   0MPP
           17020531         No_PP                   0MPP
           17020532         No_PP                   0MPP
           17020533         No_PP                   0MPP
           17020534         No_PP                   0MPP
           17020535         No_PP                   0MPP
           17020536         No_PP                   0MPP
           17020537         No_PP                   0MPP
           17020538         No_PP                   0MPP
           17020539         No_PP                   0MPP
           17020700         No_PP                   0MPP
           17020701         Prepay                  12MPP
           17020702         No_PP                   0MPP
           17020540         No_PP                   0MPP
           17020703         No_PP                   0MPP
           17020541         No_PP                   0MPP
           17020704         Prepay                  12MPP
           17020542         No_PP                   0MPP
           17020705         No_PP                   0MPP
           17020543         No_PP                   0MPP
           17020706         No_PP                   0MPP
           17020544         No_PP                   0MPP
           17020707         No_PP                   0MPP
           17020545         No_PP                   0MPP
           17020708         No_PP                   0MPP
           17020546         No_PP                   0MPP
           17020547         No_PP                   0MPP
           17020385         No_PP                   0MPP
           17020548         No_PP                   0MPP
           17020386         No_PP                   0MPP
           17020549         Prepay                  12MPP
           17020387         No_PP                   0MPP
           17020388         Prepay                  12MPP
           17020389         No_PP                   0MPP
           17020710         No_PP                   0MPP
           17020711         No_PP                   0MPP
           17020550         No_PP                   0MPP
           17020712         Prepay                  12MPP
           17020551         No_PP                   0MPP
           17020713         No_PP                   0MPP
           17020714         Prepay                  36MPP
           17020552         No_PP                   0MPP
           17020715         No_PP                   0MPP
           17020553         No_PP                   0MPP
           17020391         No_PP                   0MPP
           17020392         No_PP                   0MPP
           17020554         No_PP                   0MPP
           17020716         No_PP                   0MPP
           17020717         Prepay                  12MPP
           17020555         No_PP                   0MPP
           17020393         No_PP                   0MPP
           17020718         Prepay                  12MPP
           17020556         No_PP                   0MPP
           17020394         No_PP                   0MPP
           17020395         No_PP                   0MPP
           17020557         No_PP                   0MPP
           17020719         No_PP                   0MPP
           17020558         No_PP                   0MPP
           17020397         No_PP                   0MPP
           17020559         No_PP                   0MPP
           17020398         No_PP                   0MPP
           17020399         Prepay                  36MPP
           17020720         No_PP                   0MPP
           17020721         Prepay                  60MPP
           17020722         No_PP                   0MPP
           17020560         No_PP                   0MPP
           17020723         No_PP                   0MPP
           17020561         No_PP                   0MPP
           17020724         Prepay                  12MPP
           17020562         No_PP                   0MPP
           17020725         No_PP                   0MPP
           17020563         No_PP                   0MPP
           17020726         Prepay                  12MPP
           17020564         No_PP                   0MPP
           17020727         Prepay                  12MPP
           17020565         No_PP                   0MPP
           17020728         No_PP                   0MPP
           17020566         No_PP                   0MPP
           17020729         Prepay                  60MPP
           17020567         No_PP                   0MPP
           17020568         Prepay                  36MPP
           17020569         Prepay                  36MPP
           17020730         Prepay                  36MPP
           17020731         No_PP                   0MPP
           17020732         Prepay                  12MPP
           17020570         No_PP                   0MPP
           17020733         No_PP                   0MPP
           17020571         Prepay                  36MPP
           17020734         Prepay                  12MPP
           17020572         No_PP                   0MPP
           17020735         No_PP                   0MPP
           17020573         No_PP                   0MPP
           17020736         Prepay                  12MPP
           17020487         Prepay                  12MPP
           17020488         No_PP                   0MPP
           17020489         No_PP                   0MPP
           17020810         Prepay                  12MPP
           17020811         Prepay                  12MPP
           17020650         No_PP                   0MPP
           17020791         No_PP                   0MPP
           17020792         No_PP                   0MPP
           17020793         Prepay                  36MPP
           17020794         Prepay                  12MPP
           17020795         No_PP                   0MPP
           17020796         No_PP                   0MPP
           17020797         Prepay                  12MPP
           17020798         No_PP                   0MPP
           17020799         No_PP                   0MPP
           17020790         No_PP                   0MPP
           17020646         No_PP                   0MPP
           17020484         No_PP                   0MPP
           17020808         Prepay                  12MPP
           17020647         No_PP                   0MPP
           17020485         No_PP                   0MPP
           17020809         Prepay                  12MPP
           17020648         No_PP                   0MPP
           17020486         No_PP                   0MPP
           17020649         No_PP                   0MPP
           17020781         Prepay                  12MPP
           17020782         No_PP                   0MPP
           17020783         No_PP                   0MPP
           17020784         No_PP                   0MPP
           17020785         No_PP                   0MPP
           17020786         No_PP                   0MPP
           17020787         No_PP                   0MPP
           17020788         Prepay                  12MPP
           17020789         No_PP                   0MPP
           17020612         No_PP                   0MPP
           17020450         No_PP                   0MPP
           17020613         No_PP                   0MPP
           17020451         No_PP                   0MPP
           17020614         No_PP                   0MPP
           17020452         No_PP                   0MPP
           17020615         No_PP                   0MPP
           17020453         No_PP                   0MPP
           17020616         No_PP                   0MPP
           17020454         No_PP                   0MPP
           17020617         No_PP                   0MPP
           17020455         No_PP                   0MPP
           17020456         No_PP                   0MPP
           17020618         Prepay                  12MPP
           17020619         No_PP                   0MPP
           17020457         No_PP                   0MPP
           17020458         No_PP                   0MPP
           17020459         Prepay                  12MPP
           17020620         No_PP                   0MPP
           17020621         No_PP                   0MPP
           17020622         No_PP                   0MPP
           17020460         Prepay                  12MPP
           17020623         No_PP                   0MPP
           17020461         No_PP                   0MPP
           17020624         No_PP                   0MPP
           17020462         No_PP                   0MPP
           17020625         No_PP                   0MPP
           17020463         No_PP                   0MPP
           17020626         No_PP                   0MPP
           17020464         No_PP                   0MPP
           17020627         No_PP                   0MPP
           17020465         No_PP                   0MPP
           17020628         No_PP                   0MPP
           17020466         Prepay                  36MPP
           17020629         No_PP                   0MPP
           17020467         No_PP                   0MPP
           17020468         No_PP                   0MPP
           17020469         No_PP                   0MPP
           17020630         No_PP                   0MPP
           17020631         No_PP                   0MPP
           17020632         No_PP                   0MPP
           17020470         No_PP                   0MPP
           17020633         Prepay                  12MPP
           17020471         No_PP                   0MPP
           17020634         No_PP                   0MPP
           17020472         No_PP                   0MPP
           17020635         No_PP                   0MPP
           17020473         No_PP                   0MPP
           17020636         No_PP                   0MPP
           17020474         No_PP                   0MPP
           17020637         No_PP                   0MPP
           17020475         No_PP                   0MPP
           17020638         No_PP                   0MPP
           17020476         No_PP                   0MPP
           17020477         Prepay                  60MPP
           17020478         No_PP                   0MPP
           17020479         No_PP                   0MPP
           17020800         No_PP                   0MPP
           17020801         No_PP                   0MPP
           17020640         No_PP                   0MPP
           17020802         Prepay                  12MPP
           17020641         No_PP                   0MPP
           17020803         No_PP                   0MPP
           17020642         No_PP                   0MPP
           17020480         No_PP                   0MPP
           17020804         No_PP                   0MPP
           17020643         No_PP                   0MPP
           17020481         No_PP                   0MPP
           17020805         No_PP                   0MPP
           17020644         No_PP                   0MPP
           17020482         No_PP                   0MPP
           17020806         Prepay                  12MPP
           17020645         No_PP                   0MPP
           17020483         No_PP                   0MPP
           17020807         Prepay                  12MPP
           17020436         No_PP                   0MPP
           17020437         No_PP                   0MPP
           17020438         No_PP                   0MPP
           17020439         No_PP                   0MPP
           17020600         No_PP                   0MPP
           17020601         No_PP                   0MPP
           17020602         No_PP                   0MPP
           17020440         No_PP                   0MPP
           17020603         No_PP                   0MPP
           17020441         No_PP                   0MPP
           17020604         No_PP                   0MPP
           17020442         No_PP                   0MPP
           17020605         No_PP                   0MPP
           17020606         No_PP                   0MPP
           17020444         No_PP                   0MPP
           17020607         No_PP                   0MPP
           17020445         No_PP                   0MPP
           17020608         No_PP                   0MPP
           17020446         No_PP                   0MPP
           17020609         No_PP                   0MPP
           17020447         No_PP                   0MPP
           17020448         No_PP                   0MPP
           17020449         No_PP                   0MPP
           17020610         No_PP                   0MPP
           17020611         No_PP                   0MPP
           17020771         Prepay                  12MPP
           17020772         Prepay                  36MPP
           17020773         Prepay                  12MPP
           17020774         No_PP                   0MPP
           17020775         No_PP                   0MPP
           17020777         No_PP                   0MPP
           17020778         Prepay                  12MPP
           17020779         No_PP                   0MPP
           17020780         Prepay                  12MPP
           17020400         No_PP                   0MPP
           17020401         Prepay                  12MPP
           17020402         No_PP                   0MPP
           17020403         No_PP                   0MPP
           17020404         No_PP                   0MPP
           17020405         No_PP                   0MPP
           17020406         Prepay                  12MPP
           17020407         No_PP                   0MPP
           17020408         No_PP                   0MPP
           17020409         No_PP                   0MPP
           17020410         No_PP                   0MPP
           17020411         Prepay                  12MPP
           17020412         No_PP                   0MPP
           17020413         No_PP                   0MPP
           17020415         No_PP                   0MPP
           17020416         No_PP                   0MPP
           17020417         No_PP                   0MPP
           17020418         No_PP                   0MPP
           17020419         Prepay                  12MPP
           17020420         No_PP                   0MPP
           17020421         No_PP                   0MPP
           17020422         No_PP                   0MPP
           17020423         No_PP                   0MPP
           17020424         No_PP                   0MPP
           17020425         No_PP                   0MPP
           17020427         No_PP                   0MPP
           17020428         No_PP                   0MPP
           17020429         No_PP                   0MPP
           17020430         No_PP                   0MPP
           17020431         No_PP                   0MPP
           17020432         No_PP                   0MPP
           17020433         No_PP                   0MPP
           17020434         No_PP                   0MPP
           17020761         No_PP                   0MPP
           17020762         Prepay                  12MPP
           17020763         No_PP                   0MPP
           17020764         No_PP                   0MPP
           17020765         No_PP                   0MPP
           17020766         No_PP                   0MPP
           17020767         No_PP                   0MPP
           17020768         No_PP                   0MPP
           17020769         No_PP                   0MPP
           17020770         No_PP                   0MPP
           17020851         Prepay                  12MPP
           17020852         Prepay                  12MPP
           17020690         No_PP                   0MPP
           17020853         Prepay                  12MPP
           17020691         No_PP                   0MPP
           17020854         Prepay                  12MPP
           17020692         No_PP                   0MPP
           17020855         Prepay                  12MPP
           17020693         No_PP                   0MPP
           17020856         No_PP                   0MPP
           17020694         No_PP                   0MPP
           17020857         Prepay                  12MPP
           17020695         No_PP                   0MPP
           17020858         Prepay                  60MPP
           17020696         Prepay                  12MPP
           17020859         Prepay                  60MPP
           17020697         No_PP                   0MPP
           17020698         No_PP                   0MPP
           17020699         No_PP                   0MPP
           17020860         No_PP                   0MPP
           17020861         Prepay                  60MPP
           17020862         Prepay                  36MPP
           17020740         Prepay                  12MPP
           17020741         Prepay                  12MPP
           17020742         Prepay                  12MPP
           17020580         No_PP                   0MPP
           17020743         No_PP                   0MPP
           17020581         No_PP                   0MPP
           17020744         No_PP                   0MPP
           17020582         No_PP                   0MPP
           17020745         No_PP                   0MPP
           17020583         No_PP                   0MPP
           17020746         No_PP                   0MPP
           17020584         No_PP                   0MPP
           17020747         Prepay                  12MPP
           17020585         No_PP                   0MPP
           17020748         No_PP                   0MPP
           17020586         No_PP                   0MPP
           17020749         Prepay                  12MPP
           17020587         No_PP                   0MPP
           17020588         Prepay                  36MPP
           17020589         No_PP                   0MPP
           17020750         Prepay                  36MPP
           17020751         Prepay                  12MPP
           17020590         No_PP                   0MPP
           17020752         Prepay                  12MPP
           17020591         No_PP                   0MPP
           17020753         Prepay                  12MPP
           17020592         No_PP                   0MPP
           17020754         No_PP                   0MPP
           17020593         No_PP                   0MPP
           17020755         Prepay                  12MPP
           17020594         No_PP                   0MPP
           17020756         Prepay                  12MPP
           17020595         No_PP                   0MPP
           17020757         Prepay                  12MPP
           17020596         No_PP                   0MPP
           17020758         Prepay                  12MPP
           17020597         No_PP                   0MPP
           17020759         Prepay                  12MPP
           17020598         Prepay                  12MPP
           17020599         No_PP                   0MPP
           17020760         Prepay                  60MPP
           17020738         No_PP                   0MPP
           17020576         No_PP                   0MPP
           17020739         No_PP                   0MPP
           17020577         No_PP                   0MPP
           17020578         No_PP                   0MPP
           17020390         No_PP                   0MPP
           17149253         No_PP                   0MPP
           17129133         No_PP                   0MPP
           17120372         No_PP                   0MPP
           17120377         No_PP                   0MPP
           17120399         No_PP                   0MPP
           17129138         No_PP                   0MPP
           17120386         Prepay                  36MPP
           17120389         No_PP                   0MPP
           17120412         No_PP                   0MPP
           17120421         No_PP                   0MPP
           17120390         Prepay                  60MPP
           17120391         Prepay                  12MPP
           17120392         Prepay                  12MPP
           17120393         No_PP                   0MPP
           17120394         Prepay                  12MPP
           17120395         No_PP                   0MPP
           17120397         No_PP                   0MPP
           17120398         No_PP                   0MPP
           17120385         No_PP                   0MPP
           17120387         No_PP                   0MPP
           17120388         No_PP                   0MPP
           17120384         No_PP                   0MPP
           17120330         No_PP                   0MPP
           17120331         No_PP                   0MPP
           17120332         No_PP                   0MPP
           17120333         No_PP                   0MPP
           17120334         No_PP                   0MPP
           17120335         Prepay                  12MPP
           17120336         No_PP                   0MPP
           17120337         Prepay                  12MPP
           17120338         Prepay                  36MPP
           17120339         Prepay                  36MPP
           17120341         No_PP                   0MPP
           17120342         Prepay                  60MPP
           17120343         Prepay                  12MPP
           17120344         Prepay                  12MPP
           17120346         No_PP                   0MPP
           17120347         No_PP                   0MPP
           17120348         No_PP                   0MPP
           17120349         No_PP                   0MPP
           17120350         No_PP                   0MPP
           17120351         Prepay                  12MPP
           17120353         Prepay                  60MPP
           17120354         Prepay                  12MPP
           17120355         No_PP                   0MPP
           17120356         Prepay                  60MPP
           17120357         No_PP                   0MPP
           17120358         No_PP                   0MPP
           17120359         No_PP                   0MPP
           17120360         No_PP                   0MPP
           17120361         No_PP                   0MPP
           17120362         No_PP                   0MPP
           17120363         No_PP                   0MPP
           17120364         No_PP                   0MPP
           17120365         No_PP                   0MPP
           17120366         Prepay                  12MPP
           17120367         Prepay                  60MPP
           17120370         No_PP                   0MPP
           17120371         Prepay                  12MPP
           17120373         No_PP                   0MPP
           17120374         No_PP                   0MPP
           17120375         Prepay                  12MPP
           17120376         No_PP                   0MPP
           17120378         No_PP                   0MPP
           17120379         No_PP                   0MPP
           17120380         Prepay                  12MPP
           17120381         Prepay                  12MPP
           17120382         No_PP                   0MPP
           17120383         No_PP                   0MPP
           17120327         Prepay                  12MPP
           17120328         No_PP                   0MPP
           17149240         No_PP                   0MPP
           17149241         No_PP                   0MPP
           17149242         No_PP                   0MPP
           17149243         No_PP                   0MPP
           17149244         No_PP                   0MPP
           17149245         No_PP                   0MPP
           17149246         Prepay                  12MPP
           17149247         Prepay                  12MPP
           17149248         Prepay                  12MPP
           17149249         No_PP                   0MPP
           17149250         Prepay                  12MPP
           17149251         Prepay                  12MPP
           17149252         No_PP                   0MPP
           17149100         Prepay                  12MPP
           17149101         Prepay                  12MPP
           17149102         No_PP                   0MPP
           17129130         No_PP                   0MPP
           17129131         No_PP                   0MPP
           17129132         No_PP                   0MPP
           17129134         No_PP                   0MPP
           17129135         No_PP                   0MPP
           17129136         No_PP                   0MPP
           17129137         No_PP                   0MPP
           17129139         No_PP                   0MPP
           17129140         Prepay                  12MPP
           17129141         No_PP                   0MPP
           17129142         Prepay                  12MPP
           17129144         No_PP                   0MPP
           17129145         Prepay                  12MPP
           17129127         No_PP                   0MPP
           17129128         No_PP                   0MPP
           17129129         No_PP                   0MPP
           17120410         Prepay                  12MPP
           17120411         No_PP                   0MPP
           17120413         No_PP                   0MPP
           17120414         No_PP                   0MPP
           17120415         No_PP                   0MPP
           17120416         Prepay                  12MPP
           17120417         No_PP                   0MPP
           17120418         No_PP                   0MPP
           17120419         No_PP                   0MPP
           17120420         Prepay                  12MPP
           17120422         No_PP                   0MPP
           17120423         No_PP                   0MPP
           17120424         No_PP                   0MPP
           17120425         No_PP                   0MPP
           17120426         No_PP                   0MPP
           17149077         No_PP                   0MPP
           17149078         No_PP                   0MPP
           17149079         No_PP                   0MPP
           17149080         No_PP                   0MPP
           17149081         Prepay                  12MPP
           17149082         No_PP                   0MPP
           17149083         No_PP                   0MPP
           17149084         No_PP                   0MPP
           17149086         Prepay                  12MPP
           17149087         No_PP                   0MPP
           17149088         No_PP                   0MPP
           17149089         Prepay                  12MPP
           17149090         No_PP                   0MPP
           17149091         Prepay                  12MPP
           17120401         Prepay                  12MPP
           17120402         No_PP                   0MPP
           17120403         No_PP                   0MPP
           17120404         No_PP                   0MPP
           17120405         No_PP                   0MPP
           17120406         No_PP                   0MPP
           17120407         No_PP                   0MPP
           17120408         Prepay                  12MPP
           17120409         Prepay                  12MPP
           17149092         No_PP                   0MPP
           17149093         No_PP                   0MPP
           17149094         No_PP                   0MPP
           17149095         No_PP                   0MPP
           17149096         No_PP                   0MPP
           17149097         Prepay                  12MPP
           17149098         Prepay                  12MPP
           17149099         Prepay                  12MPP
           17120498         No_PP                   0MPP
           17120455         No_PP                   0MPP
           17120477         No_PP                   0MPP
           17120490         Prepay                  12MPP
           17120532         No_PP                   0MPP
           17120544         No_PP                   0MPP
           17120540         No_PP                   0MPP
           17120541         Prepay                  36MPP
           17120542         Prepay                  36MPP
           17120543         Prepay                  36MPP
           17120545         No_PP                   0MPP
           17120546         No_PP                   0MPP
           17120547         Prepay                  60MPP
           17120548         Prepay                  12MPP
           17120549         No_PP                   0MPP
           17120550         No_PP                   0MPP
           17120551         No_PP                   0MPP
           17120552         Prepay                  12MPP
           17120553         No_PP                   0MPP
           17120554         No_PP                   0MPP
           17120555         Prepay                  12MPP
           17120556         No_PP                   0MPP
           17120557         No_PP                   0MPP
           17120558         Prepay                  12MPP
           17120559         No_PP                   0MPP
           17120560         Prepay                  12MPP
           17120561         No_PP                   0MPP
           17120562         Prepay                  12MPP
           17120563         No_PP                   0MPP
           17120564         Prepay                  60MPP
           17120565         Prepay                  12MPP
           17120566         No_PP                   0MPP
           17120567         No_PP                   0MPP
           17120568         No_PP                   0MPP
           17120569         No_PP                   0MPP
           17120570         No_PP                   0MPP
           17120571         No_PP                   0MPP
           17120572         No_PP                   0MPP
           17120573         Prepay                  12MPP
           17120574         Prepay                  12MPP
           17120575         Prepay                  36MPP
           17120576         Prepay                  36MPP
           17120526         Prepay                  36MPP
           17120527         Prepay                  12MPP
           17120528         Prepay                  12MPP
           17120529         Prepay                  36MPP
           17120530         Prepay                  12MPP
           17120531         Prepay                  12MPP
           17120533         Prepay                  12MPP
           17120534         No_PP                   0MPP
           17120535         Prepay                  36MPP
           17120536         No_PP                   0MPP
           17120537         Prepay                  60MPP
           17120538         No_PP                   0MPP
           17120539         Prepay                  12MPP
           17120510         No_PP                   0MPP
           17120511         No_PP                   0MPP
           17120512         Prepay                  60MPP
           17120513         No_PP                   0MPP
           17120514         No_PP                   0MPP
           17120515         Prepay                  12MPP
           17120516         Prepay                  12MPP
           17120517         Prepay                  60MPP
           17120518         Prepay                  36MPP
           17120519         No_PP                   0MPP
           17120520         No_PP                   0MPP
           17120521         Prepay                  36MPP
           17120522         No_PP                   0MPP
           17120523         Prepay                  36MPP
           17120524         No_PP                   0MPP
           17120525         Prepay                  36MPP
           17120500         No_PP                   0MPP
           17120501         No_PP                   0MPP
           17120502         Prepay                  60MPP
           17120503         Prepay                  12MPP
           17120504         Prepay                  12MPP
           17120505         No_PP                   0MPP
           17120506         No_PP                   0MPP
           17120507         No_PP                   0MPP
           17120508         Prepay                  12MPP
           17120509         Prepay                  60MPP
           17149110         Prepay                  60MPP
           17149111         No_PP                   0MPP
           17149112         No_PP                   0MPP
           17149113         No_PP                   0MPP
           17149103         Prepay                  36MPP
           17149105         No_PP                   0MPP
           17149106         No_PP                   0MPP
           17149107         Prepay                  36MPP
           17149108         No_PP                   0MPP
           17149109         Prepay                  60MPP
           17120450         No_PP                   0MPP
           17120451         Prepay                  36MPP
           17120452         No_PP                   0MPP
           17120453         No_PP                   0MPP
           17120454         No_PP                   0MPP
           17120456         No_PP                   0MPP
           17120457         No_PP                   0MPP
           17120458         No_PP                   0MPP
           17120459         Prepay                  12MPP
           17120460         No_PP                   0MPP
           17120461         No_PP                   0MPP
           17120462         No_PP                   0MPP
           17120463         Prepay                  12MPP
           17120464         No_PP                   0MPP
           17120465         Prepay                  12MPP
           17120466         Prepay                  60MPP
           17120467         No_PP                   0MPP
           17120468         No_PP                   0MPP
           17120469         No_PP                   0MPP
           17120470         Prepay                  12MPP
           17120471         No_PP                   0MPP
           17120472         Prepay                  36MPP
           17120473         Prepay                  12MPP
           17120474         Prepay                  12MPP
           17120476         No_PP                   0MPP
           17120478         No_PP                   0MPP
           17120479         No_PP                   0MPP
           17120480         Prepay                  12MPP
           17120481         Prepay                  36MPP
           17120482         No_PP                   0MPP
           17120483         Prepay                  12MPP
           17120484         No_PP                   0MPP
           17120485         No_PP                   0MPP
           17120486         No_PP                   0MPP
           17120487         Prepay                  36MPP
           17120488         No_PP                   0MPP
           17120489         Prepay                  36MPP
           17120491         Prepay                  12MPP
           17120492         No_PP                   0MPP
           17120493         No_PP                   0MPP
           17120494         Prepay                  12MPP
           17120495         No_PP                   0MPP
           17120496         Prepay                  60MPP
           17120499         No_PP                   0MPP
           17120429         Prepay                  36MPP
           17120430         No_PP                   0MPP
           17120431         No_PP                   0MPP
           17120432         No_PP                   0MPP
           17120433         No_PP                   0MPP
           17120434         No_PP                   0MPP
           17120436         No_PP                   0MPP
           17120437         No_PP                   0MPP
           17120438         No_PP                   0MPP
           17120440         No_PP                   0MPP
           17120441         No_PP                   0MPP
           17120442         No_PP                   0MPP
           17120443         No_PP                   0MPP
           17120444         Prepay                  60MPP
           17120445         No_PP                   0MPP
           17120446         No_PP                   0MPP
           17120447         No_PP                   0MPP
           17120448         Prepay                  12MPP
           17120449         No_PP                   0MPP
           17181086         No_PP                   0MPP
           17171924         No_PP                   0MPP
           17172078         No_PP                   0MPP
           17175048         No_PP                   0MPP
           17175049         No_PP                   0MPP
           17171987         No_PP                   0MPP
           17172020         No_PP                   0MPP
           17203440         Prepay                  60MPP
           17172004         No_PP                   0MPP
           17172023         No_PP                   0MPP
           17172005         No_PP                   0MPP
           17203443         No_PP                   0MPP
           17203445         No_PP                   0MPP
           17203409         Prepay                  12MPP
           17172044         No_PP                   0MPP
           17203427         Prepay                  36MPP
           17172008         No_PP                   0MPP
           17181117         No_PP                   0MPP
           17172064         Prepay                  60MPP
           17203267         No_PP                   0MPP
           17175071         No_PP                   0MPP
           17172065         No_PP                   0MPP
           17175054         No_PP                   0MPP
           17172048         No_PP                   0MPP
           17172049         No_PP                   0MPP
           17171951         No_PP                   0MPP
           17171995         No_PP                   0MPP
           17203410         No_PP                   0MPP
           17181120         No_PP                   0MPP
           17172112         No_PP                   0MPP
           17172014         Prepay                  60MPP
           17203451         No_PP                   0MPP
           17172051         Prepay                  12MPP
           17203255         No_PP                   0MPP
           17172053         No_PP                   0MPP
           17203437         No_PP                   0MPP
           17172036         Prepay                  12MPP
           17172136         Prepay                  60MPP
           17172073         Prepay                  12MPP
           17172055         No_PP                   0MPP
           17203294         No_PP                   0MPP
           17203278         No_PP                   0MPP
           17203359         Prepay                  12MPP
           17172039         No_PP                   0MPP
           17203396         No_PP                   0MPP
           17203423         Prepay                  60MPP
           17203388         Prepay                  36MPP
           17203364         No_PP                   0MPP
           17203354         Prepay                  12MPP
           17203317         No_PP                   0MPP
           17171965         Prepay                  60MPP
           17203331         No_PP                   0MPP
           17172132         No_PP                   0MPP
           17172133         No_PP                   0MPP
           17172127         No_PP                   0MPP
           17172130         No_PP                   0MPP
           17172104         No_PP                   0MPP
           17172114         Prepay                  12MPP
           17172125         No_PP                   0MPP
           17172126         No_PP                   0MPP
           17171998         No_PP                   0MPP
           17172001         No_PP                   0MPP
           17172002         No_PP                   0MPP
           17172010         No_PP                   0MPP
           17172022         No_PP                   0MPP
           17172033         Prepay                  12MPP
           17172041         Prepay                  12MPP
           17172057         No_PP                   0MPP
           17172061         No_PP                   0MPP
           17172068         No_PP                   0MPP
           17172074         Prepay                  12MPP
           17172084         No_PP                   0MPP
           17172086         No_PP                   0MPP
           17171926         No_PP                   0MPP
           17171946         No_PP                   0MPP
           17171952         No_PP                   0MPP
           17171957         No_PP                   0MPP
           17171960         Prepay                  36MPP
           17171979         Prepay                  36MPP
           17171980         No_PP                   0MPP
           17171983         No_PP                   0MPP
           17171990         No_PP                   0MPP
           17171992         Prepay                  12MPP
           17171922         No_PP                   0MPP
           17203303         No_PP                   0MPP
           17203452         No_PP                   0MPP
           17203340         No_PP                   0MPP
           17203351         No_PP                   0MPP
           17203283         No_PP                   0MPP
           17203252         No_PP                   0MPP
           17203412         Prepay                  12MPP
           17203321         No_PP                   0MPP
           17203385         No_PP                   0MPP
           17203392         No_PP                   0MPP
           17203401         No_PP                   0MPP
           17203435         No_PP                   0MPP
           17203383         No_PP                   0MPP
           17203323         No_PP                   0MPP
           17203449         No_PP                   0MPP
           17203328         No_PP                   0MPP
           17203339         Prepay                  12MPP
           17203315         No_PP                   0MPP
           17203257         No_PP                   0MPP
           17203295         No_PP                   0MPP
           17203290         No_PP                   0MPP
           17203299         No_PP                   0MPP
           17203424         No_PP                   0MPP
           17203379         No_PP                   0MPP
           17203256         No_PP                   0MPP
           17203422         Prepay                  12MPP
           17203253         No_PP                   0MPP
           17203312         Prepay                  36MPP
           17203293         No_PP                   0MPP
           17203418         No_PP                   0MPP
           17203314         No_PP                   0MPP
           17203448         No_PP                   0MPP
           17203384         No_PP                   0MPP
           17203281         No_PP                   0MPP
           17203348         No_PP                   0MPP
           17203390         Prepay                  12MPP
           17203310         No_PP                   0MPP
           17203363         No_PP                   0MPP
           17203425         No_PP                   0MPP
           17203373         No_PP                   0MPP
           17203266         No_PP                   0MPP
           17203358         Prepay                  60MPP
           17203429         No_PP                   0MPP
           17203371         Prepay                  12MPP
           17203337         Prepay                  36MPP
           17203421         Prepay                  36MPP
           17203430         No_PP                   0MPP
           17203247         No_PP                   0MPP
           17203320         No_PP                   0MPP
           17203405         Prepay                  12MPP
           17203270         No_PP                   0MPP
           17203362         Prepay                  60MPP
           17203361         No_PP                   0MPP
           17203272         No_PP                   0MPP
           17203350         Prepay                  12MPP
           17203403         No_PP                   0MPP
           17203301         No_PP                   0MPP
           17203349         No_PP                   0MPP
           17203338         No_PP                   0MPP
           17203345         No_PP                   0MPP
           17203307         No_PP                   0MPP
           17203357         Prepay                  12MPP
           17203442         No_PP                   0MPP
           17203277         No_PP                   0MPP
           17203280         No_PP                   0MPP
           17203344         No_PP                   0MPP
           17203381         No_PP                   0MPP
           17203436         No_PP                   0MPP
           17203333         Prepay                  12MPP
           17203316         No_PP                   0MPP
           17203305         No_PP                   0MPP
           17203292         No_PP                   0MPP
           17203419         No_PP                   0MPP
           17203433         No_PP                   0MPP
           17203438         No_PP                   0MPP
           17203284         No_PP                   0MPP
           17203275         No_PP                   0MPP
           17203411         No_PP                   0MPP
           17203324         No_PP                   0MPP
           17203408         Prepay                  12MPP
           17203300         No_PP                   0MPP
           17203273         No_PP                   0MPP
           17203446         Prepay                  12MPP
           17203415         Prepay                  12MPP
           17203389         No_PP                   0MPP
           17203398         No_PP                   0MPP
           17203274         No_PP                   0MPP
           17203318         Prepay                  36MPP
           17203391         No_PP                   0MPP
           17203399         No_PP                   0MPP
           17203450         No_PP                   0MPP
           17203447         No_PP                   0MPP
           17203453         No_PP                   0MPP
           17203428         No_PP                   0MPP
           17203313         No_PP                   0MPP
           17203431         No_PP                   0MPP
           17203417         No_PP                   0MPP
           17203343         No_PP                   0MPP
           17203360         No_PP                   0MPP
           17203416         No_PP                   0MPP
           17203406         Prepay                  12MPP
           17203367         No_PP                   0MPP
           17203380         No_PP                   0MPP
           17203286         No_PP                   0MPP
           17203330         Prepay                  12MPP
           17203249         No_PP                   0MPP
           17203342         No_PP                   0MPP
           17203346         Prepay                  12MPP
           17203264         No_PP                   0MPP
           17203322         No_PP                   0MPP
           17203397         No_PP                   0MPP
           17203407         Prepay                  12MPP
           17203336         Prepay                  12MPP
           17203374         Prepay                  12MPP
           17203329         Prepay                  36MPP
           17203327         Prepay                  12MPP
           17203369         No_PP                   0MPP
           17203335         Prepay                  12MPP
           17203291         No_PP                   0MPP
           17203289         No_PP                   0MPP
           17203372         No_PP                   0MPP
           17203296         No_PP                   0MPP
           17203254         No_PP                   0MPP
           17203444         No_PP                   0MPP
           17203365         No_PP                   0MPP
           17203259         No_PP                   0MPP
           17203366         No_PP                   0MPP
           17203353         No_PP                   0MPP
           17203285         No_PP                   0MPP
           17203352         No_PP                   0MPP
           17203306         No_PP                   0MPP
           17203414         No_PP                   0MPP
           17203393         No_PP                   0MPP
           17203382         No_PP                   0MPP
           17203302         No_PP                   0MPP
           17203356         Prepay                  12MPP
           17203387         Prepay                  12MPP
           17203377         No_PP                   0MPP
           17203308         No_PP                   0MPP
           17203276         No_PP                   0MPP
           17203288         No_PP                   0MPP
           17203378         No_PP                   0MPP
           17203376         No_PP                   0MPP
           17203370         Prepay                  60MPP
           17203248         No_PP                   0MPP
           17203341         No_PP                   0MPP
           17203334         Prepay                  12MPP
           17203395         Prepay                  12MPP
           17203332         Prepay                  12MPP
           17203309         Prepay                  36MPP
           17203375         No_PP                   0MPP
           17203279         No_PP                   0MPP
           17203386         No_PP                   0MPP
           17203311         No_PP                   0MPP
           17203420         No_PP                   0MPP
           17203402         Prepay                  12MPP
           17203439         No_PP                   0MPP
           17203297         No_PP                   0MPP
           17203282         No_PP                   0MPP
           17203368         Prepay                  12MPP
           17203394         No_PP                   0MPP
           17203400         No_PP                   0MPP
           17203355         No_PP                   0MPP
           17203404         No_PP                   0MPP
           17203426         No_PP                   0MPP
           17203298         No_PP                   0MPP
           17203304         No_PP                   0MPP
           17203434         No_PP                   0MPP
           17171962         No_PP                   0MPP
           17171963         No_PP                   0MPP
           17171966         No_PP                   0MPP
           17171967         No_PP                   0MPP
           17171968         No_PP                   0MPP
           17171969         No_PP                   0MPP
           17171970         No_PP                   0MPP
           17171971         No_PP                   0MPP
           17171973         No_PP                   0MPP
           17171974         Prepay                  12MPP
           17171978         No_PP                   0MPP
           17171982         No_PP                   0MPP
           17171985         No_PP                   0MPP
           17171986         No_PP                   0MPP
           17171988         No_PP                   0MPP
           17171989         No_PP                   0MPP
           17171991         No_PP                   0MPP
           17171993         Prepay                  12MPP
           17171996         No_PP                   0MPP
           17171999         No_PP                   0MPP
           17171950         No_PP                   0MPP
           17171955         Prepay                  36MPP
           17171916         No_PP                   0MPP
           17171917         No_PP                   0MPP
           17171918         No_PP                   0MPP
           17171919         Prepay                  12MPP
           17171920         No_PP                   0MPP
           17171921         No_PP                   0MPP
           17171923         No_PP                   0MPP
           17171925         No_PP                   0MPP
           17171927         Prepay                  12MPP
           17171933         No_PP                   0MPP
           17171935         No_PP                   0MPP
           17171937         No_PP                   0MPP
           17171939         No_PP                   0MPP
           17171945         No_PP                   0MPP
           17171949         No_PP                   0MPP
           17175070         Prepay                  12MPP
           17175072         No_PP                   0MPP
           17175056         No_PP                   0MPP
           17175057         No_PP                   0MPP
           17175059         No_PP                   0MPP
           17175060         Prepay                  12MPP
           17175061         No_PP                   0MPP
           17175062         No_PP                   0MPP
           17175063         Prepay                  12MPP
           17175064         Prepay                  12MPP
           17175065         Prepay                  12MPP
           17175066         No_PP                   0MPP
           17175067         No_PP                   0MPP
           17175068         No_PP                   0MPP
           17175069         No_PP                   0MPP
           17175031         No_PP                   0MPP
           17175032         No_PP                   0MPP
           17175034         No_PP                   0MPP
           17175035         No_PP                   0MPP
           17175036         No_PP                   0MPP
           17175037         No_PP                   0MPP
           17175040         No_PP                   0MPP
           17175041         No_PP                   0MPP
           17175042         Prepay                  36MPP
           17175043         No_PP                   0MPP
           17175045         No_PP                   0MPP
           17175046         Prepay                  60MPP
           17175047         No_PP                   0MPP
           17175050         No_PP                   0MPP
           17175051         No_PP                   0MPP
           17175052         No_PP                   0MPP
           17175053         Prepay                  12MPP
           17175024         Prepay                  24MPP
           17175025         No_PP                   0MPP
           17175026         No_PP                   0MPP
           17175027         No_PP                   0MPP
           17175028         No_PP                   0MPP
           17175029         No_PP                   0MPP
           17172120         No_PP                   0MPP
           17172121         No_PP                   0MPP
           17172122         Prepay                  60MPP
           17172123         No_PP                   0MPP
           17172124         Prepay                  12MPP
           17172128         Prepay                  12MPP
           17172129         Prepay                  12MPP
           17172131         Prepay                  12MPP
           17172134         No_PP                   0MPP
           17172135         No_PP                   0MPP
           17172137         No_PP                   0MPP
           17172138         Prepay                  36MPP
           17172139         Prepay                  12MPP
           17172100         No_PP                   0MPP
           17172101         Prepay                  12MPP
           17172102         No_PP                   0MPP
           17172103         Prepay                  12MPP
           17172105         Prepay                  36MPP
           17172106         Prepay                  12MPP
           17172107         No_PP                   0MPP
           17172108         No_PP                   0MPP
           17172109         Prepay                  12MPP
           17172110         No_PP                   0MPP
           17172111         No_PP                   0MPP
           17172113         Prepay                  12MPP
           17172115         Prepay                  60MPP
           17172116         Prepay                  12MPP
           17172117         No_PP                   0MPP
           17172119         No_PP                   0MPP
           17181161         Prepay                  12MPP
           17172090         Prepay                  60MPP
           17181162         No_PP                   0MPP
           17172091         No_PP                   0MPP
           17172092         Prepay                  12MPP
           17172093         No_PP                   0MPP
           17172094         No_PP                   0MPP
           17172095         No_PP                   0MPP
           17172097         No_PP                   0MPP
           17172098         No_PP                   0MPP
           17172099         No_PP                   0MPP
           17181150         Prepay                  12MPP
           17181151         Prepay                  12MPP
           17172080         Prepay                  12MPP
           17181152         No_PP                   0MPP
           17172081         No_PP                   0MPP
           17181153         No_PP                   0MPP
           17172082         No_PP                   0MPP
           17181154         Prepay                  60MPP
           17172083         Prepay                  12MPP
           17172085         Prepay                  36MPP
           17181158         No_PP                   0MPP
           17172087         No_PP                   0MPP
           17181159         No_PP                   0MPP
           17172088         Prepay                  60MPP
           17172089         Prepay                  12MPP
           17172060         Prepay                  12MPP
           17181132         No_PP                   0MPP
           17181133         No_PP                   0MPP
           17172062         No_PP                   0MPP
           17181134         Prepay                  36MPP
           17172063         Prepay                  12MPP
           17181135         No_PP                   0MPP
           17181136         No_PP                   0MPP
           17172066         Prepay                  36MPP
           17181138         Prepay                  12MPP
           17172067         No_PP                   0MPP
           17172069         Prepay                  60MPP
           17181140         Prepay                  12MPP
           17172070         Prepay                  36MPP
           17172071         No_PP                   0MPP
           17181143         No_PP                   0MPP
           17172072         Prepay                  12MPP
           17181145         Prepay                  12MPP
           17181146         No_PP                   0MPP
           17172075         No_PP                   0MPP
           17181147         No_PP                   0MPP
           17172076         Prepay                  12MPP
           17181148         No_PP                   0MPP
           17172077         Prepay                  12MPP
           17172079         No_PP                   0MPP
           17181130         No_PP                   0MPP
           17181131         No_PP                   0MPP
           17181121         No_PP                   0MPP
           17172050         No_PP                   0MPP
           17181122         No_PP                   0MPP
           17181123         Prepay                  60MPP
           17172052         Prepay                  60MPP
           17181124         No_PP                   0MPP
           17181125         Prepay                  12MPP
           17172054         No_PP                   0MPP
           17181126         No_PP                   0MPP
           17172056         No_PP                   0MPP
           17172059         No_PP                   0MPP
           17172047         Prepay                  12MPP
           17181119         Prepay                  12MPP
           17172021         No_PP                   0MPP
           17172024         Prepay                  12MPP
           17172025         No_PP                   0MPP
           17172026         No_PP                   0MPP
           17172027         No_PP                   0MPP
           17172028         No_PP                   0MPP
           17172029         No_PP                   0MPP
           17181100         No_PP                   0MPP
           17181101         No_PP                   0MPP
           17172030         No_PP                   0MPP
           17181102         Prepay                  36MPP
           17172031         No_PP                   0MPP
           17172032         No_PP                   0MPP
           17181104         No_PP                   0MPP
           17181105         No_PP                   0MPP
           17172034         No_PP                   0MPP
           17181106         Prepay                  12MPP
           17172035         Prepay                  12MPP
           17181107         No_PP                   0MPP
           17181108         No_PP                   0MPP
           17172037         Prepay                  12MPP
           17181109         Prepay                  12MPP
           17172038         No_PP                   0MPP
           17181110         No_PP                   0MPP
           17181111         Prepay                  12MPP
           17172040         No_PP                   0MPP
           17181112         No_PP                   0MPP
           17181113         Prepay                  60MPP
           17172042         Prepay                  36MPP
           17181114         Prepay                  12MPP
           17172043         No_PP                   0MPP
           17181115         No_PP                   0MPP
           17181116         No_PP                   0MPP
           17172045         No_PP                   0MPP
           17172046         No_PP                   0MPP
           17172017         Prepay                  36MPP
           17172018         No_PP                   0MPP
           17172019         Prepay                  12MPP
           17172000         No_PP                   0MPP
           17172006         No_PP                   0MPP
           17172007         Prepay                  36MPP
           17172009         No_PP                   0MPP
           17172011         No_PP                   0MPP
           17172013         No_PP                   0MPP
           17172015         No_PP                   0MPP
           17172016         Prepay                  60MPP
           17181088         No_PP                   0MPP
           17181090         No_PP                   0MPP
           17181092         No_PP                   0MPP
           17181093         No_PP                   0MPP
           17181094         No_PP                   0MPP
           17181095         No_PP                   0MPP
           17181096         Prepay                  36MPP
           17181097         No_PP                   0MPP
           17181099         No_PP                   0MPP
           17181082         Prepay                  36MPP
           17181083         No_PP                   0MPP
           17181084         No_PP                   0MPP
           17181085         No_PP                   0MPP
           17172140         No_PP                   0MPP
           17172141         No_PP                   0MPP
           17172142         No_PP                   0MPP
           17175038         No_PP                   0MPP
           17175039         No_PP                   0MPP
           17175044         No_PP                   0MPP
           17175073         No_PP                   0MPP
           17181098         No_PP                   0MPP
           17181103         No_PP                   0MPP
           17181118         Prepay                  12MPP
           17181128         No_PP                   0MPP
           17181129         No_PP                   0MPP
           17181137         Prepay                  12MPP
           17181139         No_PP                   0MPP
           17181144         No_PP                   0MPP
           17181149         No_PP                   0MPP
           17181155         No_PP                   0MPP
           17181156         No_PP                   0MPP
           17181157         Prepay                  12MPP
           17181160         No_PP                   0MPP
           17171928         No_PP                   0MPP
           17171929         No_PP                   0MPP
           17171930         No_PP                   0MPP
           17171931         No_PP                   0MPP
           17171932         No_PP                   0MPP
           17171934         No_PP                   0MPP
           17171936         No_PP                   0MPP
           17171938         No_PP                   0MPP
           17171940         No_PP                   0MPP
           17171941         No_PP                   0MPP
           17171942         No_PP                   0MPP
           17171943         No_PP                   0MPP
           17171944         No_PP                   0MPP
           17171947         No_PP                   0MPP
           17171948         No_PP                   0MPP
           17171953         No_PP                   0MPP
           17171954         No_PP                   0MPP
           17171956         No_PP                   0MPP
           17171958         No_PP                   0MPP
           17171959         No_PP                   0MPP
           17171961         No_PP                   0MPP
           17171964         No_PP                   0MPP
           17171975         No_PP                   0MPP
           17171976         No_PP                   0MPP
           17171977         No_PP                   0MPP
           17171981         Prepay                  12MPP
           17171984         Prepay                  12MPP
           17171994         No_PP                   0MPP
           17171997         No_PP                   0MPP
           17172003         No_PP                   0MPP
           17172058         No_PP                   0MPP
           17175030         No_PP                   0MPP
           17175033         No_PP                   0MPP
           17175055         No_PP                   0MPP
           17181087         No_PP                   0MPP
           17181089         No_PP                   0MPP
           17181091         Prepay                  36MPP
           17181127         No_PP                   0MPP
           17172118         No_PP                   0MPP
           17181142         Prepay                  12MPP

           LOAN_SEQ         PP_TYPE                                               PP_PENALTY_HARDNESS_MTHS
           17020574         NO PP                                                                0
           17020737         SOFT                                                                 0
           17020575         NO PP                                                                0
           17020498         NO PP                                                                0
           17020499         NO PP                                                                0
           17020820         SOFT                                                                 0
           17020821         SOFT                                                                 0
           17020660         SOFT                                                                 0
           17020822         NO PP                                                                0
           17020661         NO PP                                                                0
           17020823         NO PP                                                                0
           17020662         HARD                                                                12
           17020824         NO PP                                                                0
           17020663         NO PP                                                                0
           17020825         NO PP                                                                0
           17020664         NO PP                                                                0
           17020826         NO PP                                                                0
           17020665         NO PP                                                                0
           17020827         HARD                                                                12
           17020828         HARD                                                                12
           17020667         NO PP                                                                0
           17020829         NO PP                                                                0
           17020668         NO PP                                                                0
           17020669         NO PP                                                                0
           17020830         NO PP                                                                0
           17020831         HARD                                                                12
           17020670         NO PP                                                                0
           17020832         HARD                                                                12
           17020833         HARD                                                                12
           17020671         NO PP                                                                0
           17020834         HARD                                                                12
           17020672         NO PP                                                                0
           17020835         HARD                                                                12
           17020673         NO PP                                                                0
           17020836         HARD                                                                12
           17020674         NO PP                                                                0
           17020837         HARD                                                                12
           17020675         NO PP                                                                0
           17020838         NO PP                                                                0
           17020676         NO PP                                                                0
           17020839         SOFT                                                                 0
           17020677         HARD                                                                12
           17020678         HARD                                                                12
           17020679         HARD                                                                12
           17020840         SOFT                                                                 0
           17020841         HARD                                                                12
           17020842         HARD                                                                12
           17020680         NO PP                                                                0
           17020843         HARD                                                                12
           17020681         NO PP                                                                0
           17020844         HARD                                                                12
           17020682         NO PP                                                                0
           17020845         HARD                                                                12
           17020683         NO PP                                                                0
           17020846         HARD                                                                12
           17020684         NO PP                                                                0
           17020685         NO PP                                                                0
           17020848         SOFT                                                                 0
           17020686         NO PP                                                                0
           17020849         SOFT                                                                 0
           17020687         NO PP                                                                0
           17020688         NO PP                                                                0
           17020689         NO PP                                                                0
           17020850         SOFT                                                                 0
           17020657         NO PP                                                                0
           17020495         NO PP                                                                0
           17020819         NO PP                                                                0
           17020658         NO PP                                                                0
           17020496         NO PP                                                                0
           17020659         NO PP                                                                0
           17020497         NO PP                                                                0
           17020492         NO PP                                                                0
           17020816         NO PP                                                                0
           17020655         NO PP                                                                0
           17020493         NO PP                                                                0
           17020817         HARD                                                                12
           17020656         NO PP                                                                0
           17020494         NO PP                                                                0
           17020812         HARD                                                                12
           17020651         NO PP                                                                0
           17020813         NO PP                                                                0
           17020814         NO PP                                                                0
           17020652         NO PP                                                                0
           17020490         NO PP                                                                0
           17020491         NO PP                                                                0
           17020815         NO PP                                                                0
           17020654         NO PP                                                                0
           17020500         HARD                                                                12
           17020501         SOFT                                                                 0
           17020502         NO PP                                                                0
           17020503         NO PP                                                                0
           17020504         NO PP                                                                0
           17020505         NO PP                                                                0
           17020506         NO PP                                                                0
           17020507         NO PP                                                                0
           17020508         NO PP                                                                0
           17020509         NO PP                                                                0
           17020510         NO PP                                                                0
           17020511         NO PP                                                                0
           17020512         NO PP                                                                0
           17020513         NO PP                                                                0
           17020514         NO PP                                                                0
           17020515         NO PP                                                                0
           17020516         HARD                                                                12
           17020517         NO PP                                                                0
           17020518         NO PP                                                                0
           17020519         NO PP                                                                0
           17020520         NO PP                                                                0
           17020521         NO PP                                                                0
           17020522         NO PP                                                                0
           17020523         NO PP                                                                0
           17020524         NO PP                                                                0
           17020525         SOFT                                                                 0
           17020526         NO PP                                                                0
           17020527         NO PP                                                                0
           17020528         NO PP                                                                0
           17020529         NO PP                                                                0
           17020530         NO PP                                                                0
           17020531         NO PP                                                                0
           17020532         NO PP                                                                0
           17020533         NO PP                                                                0
           17020534         NO PP                                                                0
           17020535         NO PP                                                                0
           17020536         NO PP                                                                0
           17020537         NO PP                                                                0
           17020538         NO PP                                                                0
           17020539         NO PP                                                                0
           17020700         NO PP                                                                0
           17020701         HARD                                                                12
           17020702         NO PP                                                                0
           17020540         NO PP                                                                0
           17020703         NO PP                                                                0
           17020541         NO PP                                                                0
           17020704         HARD                                                                12
           17020542         NO PP                                                                0
           17020705         NO PP                                                                0
           17020543         NO PP                                                                0
           17020706         NO PP                                                                0
           17020544         NO PP                                                                0
           17020707         NO PP                                                                0
           17020545         NO PP                                                                0
           17020708         NO PP                                                                0
           17020546         NO PP                                                                0
           17020547         NO PP                                                                0
           17020385         NO PP                                                                0
           17020548         NO PP                                                                0
           17020386         NO PP                                                                0
           17020549         HARD                                                                12
           17020387         NO PP                                                                0
           17020388         HARD                                                                12
           17020389         NO PP                                                                0
           17020710         NO PP                                                                0
           17020711         NO PP                                                                0
           17020550         NO PP                                                                0
           17020712         HARD                                                                12
           17020551         NO PP                                                                0
           17020713         NO PP                                                                0
           17020714         SOFT                                                                 0
           17020552         NO PP                                                                0
           17020715         NO PP                                                                0
           17020553         NO PP                                                                0
           17020391         NO PP                                                                0
           17020392         NO PP                                                                0
           17020554         NO PP                                                                0
           17020716         NO PP                                                                0
           17020717         HARD                                                                12
           17020555         NO PP                                                                0
           17020393         NO PP                                                                0
           17020718         HARD                                                                12
           17020556         NO PP                                                                0
           17020394         NO PP                                                                0
           17020395         NO PP                                                                0
           17020557         NO PP                                                                0
           17020719         NO PP                                                                0
           17020558         NO PP                                                                0
           17020397         NO PP                                                                0
           17020559         NO PP                                                                0
           17020398         NO PP                                                                0
           17020399         SOFT                                                                 0
           17020720         NO PP                                                                0
           17020721         SOFT                                                                 0
           17020722         NO PP                                                                0
           17020560         NO PP                                                                0
           17020723         NO PP                                                                0
           17020561         NO PP                                                                0
           17020724         HARD                                                                12
           17020562         NO PP                                                                0
           17020725         NO PP                                                                0
           17020563         NO PP                                                                0
           17020726         HARD                                                                12
           17020564         NO PP                                                                0
           17020727         HARD                                                                12
           17020565         NO PP                                                                0
           17020728         NO PP                                                                0
           17020566         NO PP                                                                0
           17020729         SOFT                                                                 0
           17020567         NO PP                                                                0
           17020568         HARD                                                                36
           17020569         SOFT                                                                 0
           17020730         SOFT                                                                 0
           17020731         NO PP                                                                0
           17020732         HARD                                                                12
           17020570         NO PP                                                                0
           17020733         NO PP                                                                0
           17020571         HARD                                                                36
           17020734         HARD                                                                12
           17020572         NO PP                                                                0
           17020735         NO PP                                                                0
           17020573         NO PP                                                                0
           17020736         HARD                                                                12
           17020487         HARD                                                                12
           17020488         NO PP                                                                0
           17020489         NO PP                                                                0
           17020810         HARD                                                                12
           17020811         HARD                                                                12
           17020650         NO PP                                                                0
           17020791         NO PP                                                                0
           17020792         NO PP                                                                0
           17020793         SOFT                                                                 0
           17020794         HARD                                                                12
           17020795         NO PP                                                                0
           17020796         NO PP                                                                0
           17020797         HARD                                                                12
           17020798         NO PP                                                                0
           17020799         NO PP                                                                0
           17020790         NO PP                                                                0
           17020646         NO PP                                                                0
           17020484         NO PP                                                                0
           17020808         HARD                                                                12
           17020647         NO PP                                                                0
           17020485         NO PP                                                                0
           17020809         HARD                                                                12
           17020648         NO PP                                                                0
           17020486         NO PP                                                                0
           17020649         NO PP                                                                0
           17020781         HARD                                                                12
           17020782         NO PP                                                                0
           17020783         NO PP                                                                0
           17020784         NO PP                                                                0
           17020785         NO PP                                                                0
           17020786         NO PP                                                                0
           17020787         NO PP                                                                0
           17020788         HARD                                                                12
           17020789         NO PP                                                                0
           17020612         NO PP                                                                0
           17020450         NO PP                                                                0
           17020613         NO PP                                                                0
           17020451         NO PP                                                                0
           17020614         NO PP                                                                0
           17020452         NO PP                                                                0
           17020615         NO PP                                                                0
           17020453         NO PP                                                                0
           17020616         NO PP                                                                0
           17020454         NO PP                                                                0
           17020617         NO PP                                                                0
           17020455         NO PP                                                                0
           17020456         NO PP                                                                0
           17020618         HARD                                                                12
           17020619         NO PP                                                                0
           17020457         NO PP                                                                0
           17020458         NO PP                                                                0
           17020459         HARD                                                                12
           17020620         NO PP                                                                0
           17020621         NO PP                                                                0
           17020622         NO PP                                                                0
           17020460         HARD                                                                12
           17020623         NO PP                                                                0
           17020461         NO PP                                                                0
           17020624         NO PP                                                                0
           17020462         NO PP                                                                0
           17020625         NO PP                                                                0
           17020463         NO PP                                                                0
           17020626         NO PP                                                                0
           17020464         NO PP                                                                0
           17020627         NO PP                                                                0
           17020465         NO PP                                                                0
           17020628         NO PP                                                                0
           17020466         SOFT                                                                 0
           17020629         NO PP                                                                0
           17020467         NO PP                                                                0
           17020468         NO PP                                                                0
           17020469         NO PP                                                                0
           17020630         NO PP                                                                0
           17020631         NO PP                                                                0
           17020632         NO PP                                                                0
           17020470         NO PP                                                                0
           17020633         HARD                                                                12
           17020471         NO PP                                                                0
           17020634         NO PP                                                                0
           17020472         NO PP                                                                0
           17020635         NO PP                                                                0
           17020473         NO PP                                                                0
           17020636         NO PP                                                                0
           17020474         NO PP                                                                0
           17020637         NO PP                                                                0
           17020475         NO PP                                                                0
           17020638         NO PP                                                                0
           17020476         NO PP                                                                0
           17020477         SOFT                                                                 0
           17020478         NO PP                                                                0
           17020479         NO PP                                                                0
           17020800         NO PP                                                                0
           17020801         NO PP                                                                0
           17020640         NO PP                                                                0
           17020802         HARD                                                                12
           17020641         NO PP                                                                0
           17020803         NO PP                                                                0
           17020642         NO PP                                                                0
           17020480         NO PP                                                                0
           17020804         NO PP                                                                0
           17020643         NO PP                                                                0
           17020481         NO PP                                                                0
           17020805         NO PP                                                                0
           17020644         NO PP                                                                0
           17020482         NO PP                                                                0
           17020806         HARD                                                                12
           17020645         NO PP                                                                0
           17020483         NO PP                                                                0
           17020807         HARD                                                                12
           17020436         NO PP                                                                0
           17020437         NO PP                                                                0
           17020438         NO PP                                                                0
           17020439         NO PP                                                                0
           17020600         NO PP                                                                0
           17020601         NO PP                                                                0
           17020602         NO PP                                                                0
           17020440         NO PP                                                                0
           17020603         NO PP                                                                0
           17020441         NO PP                                                                0
           17020604         NO PP                                                                0
           17020442         NO PP                                                                0
           17020605         NO PP                                                                0
           17020606         NO PP                                                                0
           17020444         NO PP                                                                0
           17020607         NO PP                                                                0
           17020445         NO PP                                                                0
           17020608         NO PP                                                                0
           17020446         NO PP                                                                0
           17020609         NO PP                                                                0
           17020447         NO PP                                                                0
           17020448         NO PP                                                                0
           17020449         NO PP                                                                0
           17020610         NO PP                                                                0
           17020611         NO PP                                                                0
           17020771         HARD                                                                12
           17020772         SOFT                                                                 0
           17020773         HARD                                                                12
           17020774         NO PP                                                                0
           17020775         NO PP                                                                0
           17020777         NO PP                                                                0
           17020778         HARD                                                                12
           17020779         NO PP                                                                0
           17020780         HARD                                                                12
           17020400         NO PP                                                                0
           17020401         HARD                                                                12
           17020402         NO PP                                                                0
           17020403         NO PP                                                                0
           17020404         NO PP                                                                0
           17020405         NO PP                                                                0
           17020406         HARD                                                                12
           17020407         NO PP                                                                0
           17020408         NO PP                                                                0
           17020409         NO PP                                                                0
           17020410         NO PP                                                                0
           17020411         HARD                                                                12
           17020412         NO PP                                                                0
           17020413         NO PP                                                                0
           17020415         NO PP                                                                0
           17020416         NO PP                                                                0
           17020417         NO PP                                                                0
           17020418         NO PP                                                                0
           17020419         HARD                                                                12
           17020420         NO PP                                                                0
           17020421         NO PP                                                                0
           17020422         NO PP                                                                0
           17020423         NO PP                                                                0
           17020424         NO PP                                                                0
           17020425         NO PP                                                                0
           17020427         NO PP                                                                0
           17020428         NO PP                                                                0
           17020429         NO PP                                                                0
           17020430         NO PP                                                                0
           17020431         NO PP                                                                0
           17020432         NO PP                                                                0
           17020433         NO PP                                                                0
           17020434         NO PP                                                                0
           17020761         NO PP                                                                0
           17020762         HARD                                                                12
           17020763         NO PP                                                                0
           17020764         NO PP                                                                0
           17020765         NO PP                                                                0
           17020766         NO PP                                                                0
           17020767         NO PP                                                                0
           17020768         NO PP                                                                0
           17020769         NO PP                                                                0
           17020770         NO PP                                                                0
           17020851         HARD                                                                12
           17020852         HARD                                                                12
           17020690         NO PP                                                                0
           17020853         HARD                                                                12
           17020691         NO PP                                                                0
           17020854         HARD                                                                12
           17020692         NO PP                                                                0
           17020855         HARD                                                                12
           17020693         NO PP                                                                0
           17020856         NO PP                                                                0
           17020694         NO PP                                                                0
           17020857         HARD                                                                12
           17020695         NO PP                                                                0
           17020858         SOFT                                                                 0
           17020696         HARD                                                                12
           17020859         SOFT                                                                 0
           17020697         NO PP                                                                0
           17020698         NO PP                                                                0
           17020699         NO PP                                                                0
           17020860         NO PP                                                                0
           17020861         SOFT                                                                 0
           17020862         SOFT                                                                 0
           17020740         HARD                                                                12
           17020741         HARD                                                                12
           17020742         HARD                                                                12
           17020580         NO PP                                                                0
           17020743         NO PP                                                                0
           17020581         NO PP                                                                0
           17020744         NO PP                                                                0
           17020582         NO PP                                                                0
           17020745         NO PP                                                                0
           17020583         NO PP                                                                0
           17020746         NO PP                                                                0
           17020584         NO PP                                                                0
           17020747         HARD                                                                12
           17020585         NO PP                                                                0
           17020748         NO PP                                                                0
           17020586         NO PP                                                                0
           17020749         HARD                                                                12
           17020587         NO PP                                                                0
           17020588         HARD                                                                36
           17020589         NO PP                                                                0
           17020750         SOFT                                                                 0
           17020751         HARD                                                                12
           17020590         NO PP                                                                0
           17020752         HARD                                                                12
           17020591         NO PP                                                                0
           17020753         HARD                                                                12
           17020592         NO PP                                                                0
           17020754         NO PP                                                                0
           17020593         NO PP                                                                0
           17020755         HARD                                                                12
           17020594         NO PP                                                                0
           17020756         HARD                                                                12
           17020595         NO PP                                                                0
           17020757         HARD                                                                12
           17020596         NO PP                                                                0
           17020758         HARD                                                                12
           17020597         NO PP                                                                0
           17020759         HARD                                                                12
           17020598         HARD                                                                12
           17020599         NO PP                                                                0
           17020760         SOFT                                                                 0
           17020738         NO PP                                                                0
           17020576         NO PP                                                                0
           17020739         NO PP                                                                0
           17020577         NO PP                                                                0
           17020578         NO PP                                                                0
           17020390         NO PP                                                                0
           17149253         NO PP                                                                0
           17129133         NO PP                                                                0
           17120372         NO PP                                                                0
           17120377         NO PP                                                                0
           17120399         NO PP                                                                0
           17129138         NO PP                                                                0
           17120386         SOFT                                                                 0
           17120389         NO PP                                                                0
           17120412         NO PP                                                                0
           17120421         NO PP                                                                0
           17120390         SOFT                                                                 0
           17120391         HARD                                                                12
           17120392         HARD                                                                12
           17120393         NO PP                                                                0
           17120394         HARD                                                                12
           17120395         NO PP                                                                0
           17120397         NO PP                                                                0
           17120398         NO PP                                                                0
           17120385         NO PP                                                                0
           17120387         NO PP                                                                0
           17120388         NO PP                                                                0
           17120384         NO PP                                                                0
           17120330         NO PP                                                                0
           17120331         NO PP                                                                0
           17120332         NO PP                                                                0
           17120333         NO PP                                                                0
           17120334         NO PP                                                                0
           17120335         HARD                                                                12
           17120336         NO PP                                                                0
           17120337         HARD                                                                12
           17120338         SOFT                                                                 0
           17120339         SOFT                                                                 0
           17120341         NO PP                                                                0
           17120342         SOFT                                                                 0
           17120343         HARD                                                                12
           17120344         HARD                                                                12
           17120346         NO PP                                                                0
           17120347         NO PP                                                                0
           17120348         NO PP                                                                0
           17120349         NO PP                                                                0
           17120350         NO PP                                                                0
           17120351         HARD                                                                12
           17120353         SOFT                                                                 0
           17120354         HARD                                                                12
           17120355         NO PP                                                                0
           17120356         SOFT                                                                 0
           17120357         NO PP                                                                0
           17120358         NO PP                                                                0
           17120359         NO PP                                                                0
           17120360         NO PP                                                                0
           17120361         NO PP                                                                0
           17120362         NO PP                                                                0
           17120363         NO PP                                                                0
           17120364         NO PP                                                                0
           17120365         NO PP                                                                0
           17120366         HARD                                                                12
           17120367         SOFT                                                                 0
           17120370         NO PP                                                                0
           17120371         HARD                                                                12
           17120373         NO PP                                                                0
           17120374         NO PP                                                                0
           17120375         HARD                                                                12
           17120376         NO PP                                                                0
           17120378         NO PP                                                                0
           17120379         NO PP                                                                0
           17120380         HARD                                                                12
           17120381         HARD                                                                12
           17120382         NO PP                                                                0
           17120383         NO PP                                                                0
           17120327         HARD                                                                12
           17120328         NO PP                                                                0
           17149240         NO PP                                                                0
           17149241         NO PP                                                                0
           17149242         NO PP                                                                0
           17149243         NO PP                                                                0
           17149244         NO PP                                                                0
           17149245         NO PP                                                                0
           17149246         HARD                                                                12
           17149247         HARD                                                                12
           17149248         HARD                                                                12
           17149249         NO PP                                                                0
           17149250         HARD                                                                12
           17149251         HARD                                                                12
           17149252         NO PP                                                                0
           17149100         HARD                                                                12
           17149101         HARD                                                                12
           17149102         NO PP                                                                0
           17129130         NO PP                                                                0
           17129131         NO PP                                                                0
           17129132         NO PP                                                                0
           17129134         NO PP                                                                0
           17129135         NO PP                                                                0
           17129136         NO PP                                                                0
           17129137         NO PP                                                                0
           17129139         NO PP                                                                0
           17129140         HARD                                                                12
           17129141         NO PP                                                                0
           17129142         HARD                                                                12
           17129144         NO PP                                                                0
           17129145         HARD                                                                12
           17129127         NO PP                                                                0
           17129128         NO PP                                                                0
           17129129         NO PP                                                                0
           17120410         HARD                                                                12
           17120411         NO PP                                                                0
           17120413         NO PP                                                                0
           17120414         NO PP                                                                0
           17120415         NO PP                                                                0
           17120416         HARD                                                                12
           17120417         NO PP                                                                0
           17120418         NO PP                                                                0
           17120419         NO PP                                                                0
           17120420         HARD                                                                12
           17120422         NO PP                                                                0
           17120423         NO PP                                                                0
           17120424         NO PP                                                                0
           17120425         NO PP                                                                0
           17120426         NO PP                                                                0
           17149077         NO PP                                                                0
           17149078         NO PP                                                                0
           17149079         NO PP                                                                0
           17149080         NO PP                                                                0
           17149081         HARD                                                                12
           17149082         NO PP                                                                0
           17149083         NO PP                                                                0
           17149084         NO PP                                                                0
           17149086         HARD                                                                12
           17149087         NO PP                                                                0
           17149088         NO PP                                                                0
           17149089         HARD                                                                12
           17149090         NO PP                                                                0
           17149091         HARD                                                                12
           17120401         HARD                                                                12
           17120402         NO PP                                                                0
           17120403         NO PP                                                                0
           17120404         NO PP                                                                0
           17120405         NO PP                                                                0
           17120406         NO PP                                                                0
           17120407         NO PP                                                                0
           17120408         HARD                                                                12
           17120409         HARD                                                                12
           17149092         NO PP                                                                0
           17149093         NO PP                                                                0
           17149094         NO PP                                                                0
           17149095         NO PP                                                                0
           17149096         NO PP                                                                0
           17149097         HARD                                                                12
           17149098         HARD                                                                12
           17149099         HARD                                                                12
           17120498         NO PP                                                                0
           17120455         NO PP                                                                0
           17120477         NO PP                                                                0
           17120490         HARD                                                                12
           17120532         NO PP                                                                0
           17120544         NO PP                                                                0
           17120540         NO PP                                                                0
           17120541         SOFT                                                                 0
           17120542         SOFT                                                                 0
           17120543         SOFT                                                                 0
           17120545         NO PP                                                                0
           17120546         NO PP                                                                0
           17120547         SOFT                                                                 0
           17120548         HARD                                                                12
           17120549         NO PP                                                                0
           17120550         NO PP                                                                0
           17120551         NO PP                                                                0
           17120552         HARD                                                                12
           17120553         NO PP                                                                0
           17120554         NO PP                                                                0
           17120555         HARD                                                                12
           17120556         NO PP                                                                0
           17120557         NO PP                                                                0
           17120558         HARD                                                                12
           17120559         NO PP                                                                0
           17120560         HARD                                                                12
           17120561         NO PP                                                                0
           17120562         HARD                                                                12
           17120563         NO PP                                                                0
           17120564         SOFT                                                                 0
           17120565         HARD                                                                12
           17120566         NO PP                                                                0
           17120567         NO PP                                                                0
           17120568         NO PP                                                                0
           17120569         NO PP                                                                0
           17120570         NO PP                                                                0
           17120571         NO PP                                                                0
           17120572         NO PP                                                                0
           17120573         HARD                                                                12
           17120574         HARD                                                                12
           17120575         SOFT                                                                 0
           17120576         SOFT                                                                 0
           17120526         SOFT                                                                 0
           17120527         HARD                                                                12
           17120528         HARD                                                                12
           17120529         SOFT                                                                 0
           17120530         HARD                                                                12
           17120531         HARD                                                                12
           17120533         HARD                                                                12
           17120534         NO PP                                                                0
           17120535         SOFT                                                                 0
           17120536         NO PP                                                                0
           17120537         SOFT                                                                 0
           17120538         NO PP                                                                0
           17120539         HARD                                                                12
           17120510         NO PP                                                                0
           17120511         NO PP                                                                0
           17120512         SOFT                                                                 0
           17120513         NO PP                                                                0
           17120514         NO PP                                                                0
           17120515         HARD                                                                12
           17120516         HARD                                                                12
           17120517         SOFT                                                                 0
           17120518         SOFT                                                                 0
           17120519         NO PP                                                                0
           17120520         NO PP                                                                0
           17120521         SOFT                                                                 0
           17120522         NO PP                                                                0
           17120523         SOFT                                                                 0
           17120524         NO PP                                                                0
           17120525         SOFT                                                                 0
           17120500         NO PP                                                                0
           17120501         NO PP                                                                0
           17120502         SOFT                                                                 0
           17120503         HARD                                                                12
           17120504         HARD                                                                12
           17120505         NO PP                                                                0
           17120506         NO PP                                                                0
           17120507         NO PP                                                                0
           17120508         HARD                                                                12
           17120509         SOFT                                                                 0
           17149110         SOFT                                                                 0
           17149111         NO PP                                                                0
           17149112         NO PP                                                                0
           17149113         NO PP                                                                0
           17149103         SOFT                                                                 0
           17149105         NO PP                                                                0
           17149106         NO PP                                                                0
           17149107         SOFT                                                                 0
           17149108         NO PP                                                                0
           17149109         SOFT                                                                 0
           17120450         NO PP                                                                0
           17120451         SOFT                                                                 0
           17120452         NO PP                                                                0
           17120453         NO PP                                                                0
           17120454         NO PP                                                                0
           17120456         NO PP                                                                0
           17120457         NO PP                                                                0
           17120458         NO PP                                                                0
           17120459         HARD                                                                12
           17120460         NO PP                                                                0
           17120461         NO PP                                                                0
           17120462         NO PP                                                                0
           17120463         HARD                                                                12
           17120464         NO PP                                                                0
           17120465         HARD                                                                12
           17120466         SOFT                                                                 0
           17120467         NO PP                                                                0
           17120468         NO PP                                                                0
           17120469         NO PP                                                                0
           17120470         HARD                                                                12
           17120471         NO PP                                                                0
           17120472         SOFT                                                                 0
           17120473         HARD                                                                12
           17120474         HARD                                                                12
           17120476         NO PP                                                                0
           17120478         NO PP                                                                0
           17120479         NO PP                                                                0
           17120480         HARD                                                                12
           17120481         SOFT                                                                 0
           17120482         NO PP                                                                0
           17120483         HARD                                                                12
           17120484         NO PP                                                                0
           17120485         NO PP                                                                0
           17120486         NO PP                                                                0
           17120487         SOFT                                                                 0
           17120488         NO PP                                                                0
           17120489         SOFT                                                                 0
           17120491         HARD                                                                12
           17120492         NO PP                                                                0
           17120493         NO PP                                                                0
           17120494         HARD                                                                12
           17120495         NO PP                                                                0
           17120496         SOFT                                                                 0
           17120499         NO PP                                                                0
           17120429         SOFT                                                                 0
           17120430         NO PP                                                                0
           17120431         NO PP                                                                0
           17120432         NO PP                                                                0
           17120433         NO PP                                                                0
           17120434         NO PP                                                                0
           17120436         NO PP                                                                0
           17120437         NO PP                                                                0
           17120438         NO PP                                                                0
           17120440         NO PP                                                                0
           17120441         NO PP                                                                0
           17120442         NO PP                                                                0
           17120443         NO PP                                                                0
           17120444         SOFT                                                                 0
           17120445         NO PP                                                                0
           17120446         NO PP                                                                0
           17120447         NO PP                                                                0
           17120448         HARD                                                                12
           17120449         NO PP                                                                0
           17181086         NO PP                                                                0
           17171924         NO PP                                                                0
           17172078         NO PP                                                                0
           17175048         NO PP                                                                0
           17175049         NO PP                                                                0
           17171987         NO PP                                                                0
           17172020         NO PP                                                                0
           17203440         SOFT                                                                 0
           17172004         NO PP                                                                0
           17172023         NO PP                                                                0
           17172005         NO PP                                                                0
           17203443         NO PP                                                                0
           17203445         NO PP                                                                0
           17203409         HARD                                                                12
           17172044         NO PP                                                                0
           17203427         SOFT                                                                 0
           17172008         NO PP                                                                0
           17181117         NO PP                                                                0
           17172064         SOFT                                                                 0
           17203267         NO PP                                                                0
           17175071         NO PP                                                                0
           17172065         NO PP                                                                0
           17175054         NO PP                                                                0
           17172048         NO PP                                                                0
           17172049         NO PP                                                                0
           17171951         NO PP                                                                0
           17171995         NO PP                                                                0
           17203410         NO PP                                                                0
           17181120         NO PP                                                                0
           17172112         NO PP                                                                0
           17172014         SOFT                                                                 0
           17203451         NO PP                                                                0
           17172051         HARD                                                                12
           17203255         NO PP                                                                0
           17172053         NO PP                                                                0
           17203437         NO PP                                                                0
           17172036         HARD                                                                12
           17172136         SOFT                                                                 0
           17172073         HARD                                                                12
           17172055         NO PP                                                                0
           17203294         NO PP                                                                0
           17203278         NO PP                                                                0
           17203359         SOFT                                                                 0
           17172039         NO PP                                                                0
           17203396         NO PP                                                                0
           17203423         SOFT                                                                 0
           17203388         SOFT                                                                 0
           17203364         NO PP                                                                0
           17203354         HARD                                                                12
           17203317         NO PP                                                                0
           17171965         SOFT                                                                 0
           17203331         NO PP                                                                0
           17172132         NO PP                                                                0
           17172133         NO PP                                                                0
           17172127         NO PP                                                                0
           17172130         NO PP                                                                0
           17172104         NO PP                                                                0
           17172114         HARD                                                                12
           17172125         NO PP                                                                0
           17172126         NO PP                                                                0
           17171998         NO PP                                                                0
           17172001         NO PP                                                                0
           17172002         NO PP                                                                0
           17172010         NO PP                                                                0
           17172022         NO PP                                                                0
           17172033         HARD                                                                12
           17172041         HARD                                                                12
           17172057         NO PP                                                                0
           17172061         NO PP                                                                0
           17172068         NO PP                                                                0
           17172074         HARD                                                                12
           17172084         NO PP                                                                0
           17172086         NO PP                                                                0
           17171926         NO PP                                                                0
           17171946         NO PP                                                                0
           17171952         NO PP                                                                0
           17171957         NO PP                                                                0
           17171960         SOFT                                                                 0
           17171979         SOFT                                                                 0
           17171980         NO PP                                                                0
           17171983         NO PP                                                                0
           17171990         NO PP                                                                0
           17171992         HARD                                                                12
           17171922         NO PP                                                                0
           17203303         NO PP                                                                0
           17203452         NO PP                                                                0
           17203340         NO PP                                                                0
           17203351         NO PP                                                                0
           17203283         NO PP                                                                0
           17203252         NO PP                                                                0
           17203412         HARD                                                                12
           17203321         NO PP                                                                0
           17203385         NO PP                                                                0
           17203392         NO PP                                                                0
           17203401         NO PP                                                                0
           17203435         NO PP                                                                0
           17203383         NO PP                                                                0
           17203323         NO PP                                                                0
           17203449         NO PP                                                                0
           17203328         NO PP                                                                0
           17203339         HARD                                                                12
           17203315         NO PP                                                                0
           17203257         NO PP                                                                0
           17203295         NO PP                                                                0
           17203290         NO PP                                                                0
           17203299         NO PP                                                                0
           17203424         NO PP                                                                0
           17203379         NO PP                                                                0
           17203256         NO PP                                                                0
           17203422         HARD                                                                12
           17203253         NO PP                                                                0
           17203312         HARD                                                                36
           17203293         NO PP                                                                0
           17203418         NO PP                                                                0
           17203314         NO PP                                                                0
           17203448         NO PP                                                                0
           17203384         NO PP                                                                0
           17203281         NO PP                                                                0
           17203348         NO PP                                                                0
           17203390         HARD                                                                12
           17203310         NO PP                                                                0
           17203363         NO PP                                                                0
           17203425         NO PP                                                                0
           17203373         NO PP                                                                0
           17203266         NO PP                                                                0
           17203358         SOFT                                                                 0
           17203429         NO PP                                                                0
           17203371         HARD                                                                12
           17203337         SOFT                                                                 0
           17203421         SOFT                                                                 0
           17203430         NO PP                                                                0
           17203247         NO PP                                                                0
           17203320         NO PP                                                                0
           17203405         HARD                                                                12
           17203270         NO PP                                                                0
           17203362         SOFT                                                                 0
           17203361         NO PP                                                                0
           17203272         NO PP                                                                0
           17203350         HARD                                                                12
           17203403         NO PP                                                                0
           17203301         NO PP                                                                0
           17203349         NO PP                                                                0
           17203338         NO PP                                                                0
           17203345         NO PP                                                                0
           17203307         NO PP                                                                0
           17203357         HARD                                                                12
           17203442         NO PP                                                                0
           17203277         NO PP                                                                0
           17203280         NO PP                                                                0
           17203344         NO PP                                                                0
           17203381         NO PP                                                                0
           17203436         NO PP                                                                0
           17203333         HARD                                                                12
           17203316         NO PP                                                                0
           17203305         NO PP                                                                0
           17203292         NO PP                                                                0
           17203419         NO PP                                                                0
           17203433         NO PP                                                                0
           17203438         NO PP                                                                0
           17203284         NO PP                                                                0
           17203275         NO PP                                                                0
           17203411         NO PP                                                                0
           17203324         NO PP                                                                0
           17203408         HARD                                                                12
           17203300         NO PP                                                                0
           17203273         NO PP                                                                0
           17203446         HARD                                                                12
           17203415         HARD                                                                12
           17203389         NO PP                                                                0
           17203398         NO PP                                                                0
           17203274         NO PP                                                                0
           17203318         HARD                                                                36
           17203391         NO PP                                                                0
           17203399         NO PP                                                                0
           17203450         NO PP                                                                0
           17203447         NO PP                                                                0
           17203453         NO PP                                                                0
           17203428         NO PP                                                                0
           17203313         NO PP                                                                0
           17203431         NO PP                                                                0
           17203417         NO PP                                                                0
           17203343         NO PP                                                                0
           17203360         NO PP                                                                0
           17203416         NO PP                                                                0
           17203406         HARD                                                                12
           17203367         NO PP                                                                0
           17203380         NO PP                                                                0
           17203286         NO PP                                                                0
           17203330         HARD                                                                12
           17203249         NO PP                                                                0
           17203342         NO PP                                                                0
           17203346         HARD                                                                12
           17203264         NO PP                                                                0
           17203322         NO PP                                                                0
           17203397         NO PP                                                                0
           17203407         HARD                                                                12
           17203336         HARD                                                                12
           17203374         HARD                                                                12
           17203329         SOFT                                                                 0
           17203327         HARD                                                                12
           17203369         NO PP                                                                0
           17203335         HARD                                                                12
           17203291         NO PP                                                                0
           17203289         NO PP                                                                0
           17203372         NO PP                                                                0
           17203296         NO PP                                                                0
           17203254         NO PP                                                                0
           17203444         NO PP                                                                0
           17203365         NO PP                                                                0
           17203259         NO PP                                                                0
           17203366         NO PP                                                                0
           17203353         NO PP                                                                0
           17203285         NO PP                                                                0
           17203352         NO PP                                                                0
           17203306         NO PP                                                                0
           17203414         NO PP                                                                0
           17203393         NO PP                                                                0
           17203382         NO PP                                                                0
           17203302         NO PP                                                                0
           17203356         HARD                                                                12
           17203387         HARD                                                                12
           17203377         NO PP                                                                0
           17203308         NO PP                                                                0
           17203276         NO PP                                                                0
           17203288         NO PP                                                                0
           17203378         NO PP                                                                0
           17203376         NO PP                                                                0
           17203370         SOFT                                                                 0
           17203248         NO PP                                                                0
           17203341         NO PP                                                                0
           17203334         HARD                                                                12
           17203395         HARD                                                                12
           17203332         HARD                                                                12
           17203309         HARD                                                                36
           17203375         NO PP                                                                0
           17203279         NO PP                                                                0
           17203386         NO PP                                                                0
           17203311         NO PP                                                                0
           17203420         NO PP                                                                0
           17203402         HARD                                                                12
           17203439         NO PP                                                                0
           17203297         NO PP                                                                0
           17203282         NO PP                                                                0
           17203368         HARD                                                                12
           17203394         NO PP                                                                0
           17203400         NO PP                                                                0
           17203355         NO PP                                                                0
           17203404         NO PP                                                                0
           17203426         NO PP                                                                0
           17203298         NO PP                                                                0
           17203304         NO PP                                                                0
           17203434         NO PP                                                                0
           17171962         NO PP                                                                0
           17171963         NO PP                                                                0
           17171966         NO PP                                                                0
           17171967         NO PP                                                                0
           17171968         NO PP                                                                0
           17171969         NO PP                                                                0
           17171970         NO PP                                                                0
           17171971         NO PP                                                                0
           17171973         NO PP                                                                0
           17171974         HARD                                                                12
           17171978         NO PP                                                                0
           17171982         NO PP                                                                0
           17171985         NO PP                                                                0
           17171986         NO PP                                                                0
           17171988         NO PP                                                                0
           17171989         NO PP                                                                0
           17171991         NO PP                                                                0
           17171993         HARD                                                                12
           17171996         NO PP                                                                0
           17171999         NO PP                                                                0
           17171950         NO PP                                                                0
           17171955         SOFT                                                                 0
           17171916         NO PP                                                                0
           17171917         NO PP                                                                0
           17171918         NO PP                                                                0
           17171919         HARD                                                                12
           17171920         NO PP                                                                0
           17171921         NO PP                                                                0
           17171923         NO PP                                                                0
           17171925         NO PP                                                                0
           17171927         HARD                                                                12
           17171933         NO PP                                                                0
           17171935         NO PP                                                                0
           17171937         NO PP                                                                0
           17171939         NO PP                                                                0
           17171945         NO PP                                                                0
           17171949         NO PP                                                                0
           17175070         HARD                                                                12
           17175072         NO PP                                                                0
           17175056         NO PP                                                                0
           17175057         NO PP                                                                0
           17175059         NO PP                                                                0
           17175060         HARD                                                                12
           17175061         NO PP                                                                0
           17175062         NO PP                                                                0
           17175063         HARD                                                                12
           17175064         HARD                                                                12
           17175065         HARD                                                                12
           17175066         NO PP                                                                0
           17175067         NO PP                                                                0
           17175068         NO PP                                                                0
           17175069         NO PP                                                                0
           17175031         NO PP                                                                0
           17175032         NO PP                                                                0
           17175034         NO PP                                                                0
           17175035         NO PP                                                                0
           17175036         NO PP                                                                0
           17175037         NO PP                                                                0
           17175040         NO PP                                                                0
           17175041         NO PP                                                                0
           17175042         SOFT                                                                 0
           17175043         NO PP                                                                0
           17175045         NO PP                                                                0
           17175046         SOFT                                                                 0
           17175047         NO PP                                                                0
           17175050         NO PP                                                                0
           17175051         NO PP                                                                0
           17175052         NO PP                                                                0
           17175053         HARD                                                                12
           17175024         SOFT                                                                 0
           17175025         NO PP                                                                0
           17175026         NO PP                                                                0
           17175027         NO PP                                                                0
           17175028         NO PP                                                                0
           17175029         NO PP                                                                0
           17172120         NO PP                                                                0
           17172121         NO PP                                                                0
           17172122         SOFT                                                                 0
           17172123         NO PP                                                                0
           17172124         HARD                                                                12
           17172128         HARD                                                                12
           17172129         HARD                                                                12
           17172131         HARD                                                                12
           17172134         NO PP                                                                0
           17172135         NO PP                                                                0
           17172137         NO PP                                                                0
           17172138         SOFT                                                                 0
           17172139         HARD                                                                12
           17172100         NO PP                                                                0
           17172101         HARD                                                                12
           17172102         NO PP                                                                0
           17172103         HARD                                                                12
           17172105         SOFT                                                                 0
           17172106         HARD                                                                12
           17172107         NO PP                                                                0
           17172108         NO PP                                                                0
           17172109         HARD                                                                12
           17172110         NO PP                                                                0
           17172111         NO PP                                                                0
           17172113         HARD                                                                12
           17172115         SOFT                                                                 0
           17172116         HARD                                                                12
           17172117         NO PP                                                                0
           17172119         NO PP                                                                0
           17181161         HARD                                                                12
           17172090         SOFT                                                                 0
           17181162         NO PP                                                                0
           17172091         NO PP                                                                0
           17172092         HARD                                                                12
           17172093         NO PP                                                                0
           17172094         NO PP                                                                0
           17172095         NO PP                                                                0
           17172097         NO PP                                                                0
           17172098         NO PP                                                                0
           17172099         NO PP                                                                0
           17181150         HARD                                                                12
           17181151         HARD                                                                12
           17172080         HARD                                                                12
           17181152         NO PP                                                                0
           17172081         NO PP                                                                0
           17181153         NO PP                                                                0
           17172082         NO PP                                                                0
           17181154         SOFT                                                                 0
           17172083         HARD                                                                12
           17172085         SOFT                                                                 0
           17181158         NO PP                                                                0
           17172087         NO PP                                                                0
           17181159         NO PP                                                                0
           17172088         SOFT                                                                 0
           17172089         HARD                                                                12
           17172060         HARD                                                                12
           17181132         NO PP                                                                0
           17181133         NO PP                                                                0
           17172062         NO PP                                                                0
           17181134         SOFT                                                                 0
           17172063         HARD                                                                12
           17181135         NO PP                                                                0
           17181136         NO PP                                                                0
           17172066         SOFT                                                                 0
           17181138         HARD                                                                12
           17172067         NO PP                                                                0
           17172069         SOFT                                                                 0
           17181140         HARD                                                                12
           17172070         SOFT                                                                 0
           17172071         NO PP                                                                0
           17181143         NO PP                                                                0
           17172072         HARD                                                                12
           17181145         HARD                                                                12
           17181146         NO PP                                                                0
           17172075         NO PP                                                                0
           17181147         NO PP                                                                0
           17172076         HARD                                                                12
           17181148         NO PP                                                                0
           17172077         HARD                                                                12
           17172079         NO PP                                                                0
           17181130         NO PP                                                                0
           17181131         NO PP                                                                0
           17181121         NO PP                                                                0
           17172050         NO PP                                                                0
           17181122         NO PP                                                                0
           17181123         SOFT                                                                 0
           17172052         SOFT                                                                 0
           17181124         NO PP                                                                0
           17181125         HARD                                                                12
           17172054         NO PP                                                                0
           17181126         NO PP                                                                0
           17172056         NO PP                                                                0
           17172059         NO PP                                                                0
           17172047         HARD                                                                12
           17181119         HARD                                                                12
           17172021         NO PP                                                                0
           17172024         HARD                                                                12
           17172025         NO PP                                                                0
           17172026         NO PP                                                                0
           17172027         NO PP                                                                0
           17172028         NO PP                                                                0
           17172029         NO PP                                                                0
           17181100         NO PP                                                                0
           17181101         NO PP                                                                0
           17172030         NO PP                                                                0
           17181102         HARD                                                                36
           17172031         NO PP                                                                0
           17172032         NO PP                                                                0
           17181104         NO PP                                                                0
           17181105         NO PP                                                                0
           17172034         NO PP                                                                0
           17181106         HARD                                                                12
           17172035         HARD                                                                12
           17181107         NO PP                                                                0
           17181108         NO PP                                                                0
           17172037         HARD                                                                12
           17181109         HARD                                                                12
           17172038         NO PP                                                                0
           17181110         NO PP                                                                0
           17181111         HARD                                                                12
           17172040         NO PP                                                                0
           17181112         NO PP                                                                0
           17181113         SOFT                                                                 0
           17172042         SOFT                                                                 0
           17181114         HARD                                                                12
           17172043         NO PP                                                                0
           17181115         NO PP                                                                0
           17181116         NO PP                                                                0
           17172045         NO PP                                                                0
           17172046         NO PP                                                                0
           17172017         SOFT                                                                 0
           17172018         NO PP                                                                0
           17172019         HARD                                                                12
           17172000         NO PP                                                                0
           17172006         NO PP                                                                0
           17172007         SOFT                                                                 0
           17172009         NO PP                                                                0
           17172011         NO PP                                                                0
           17172013         NO PP                                                                0
           17172015         NO PP                                                                0
           17172016         SOFT                                                                 0
           17181088         NO PP                                                                0
           17181090         NO PP                                                                0
           17181092         NO PP                                                                0
           17181093         NO PP                                                                0
           17181094         NO PP                                                                0
           17181095         NO PP                                                                0
           17181096         SOFT                                                                 0
           17181097         NO PP                                                                0
           17181099         NO PP                                                                0
           17181082         SOFT                                                                 0
           17181083         NO PP                                                                0
           17181084         NO PP                                                                0
           17181085         NO PP                                                                0
           17172140         NO PP                                                                0
           17172141         NO PP                                                                0
           17172142         NO PP                                                                0
           17175038         NO PP                                                                0
           17175039         NO PP                                                                0
           17175044         NO PP                                                                0
           17175073         NO PP                                                                0
           17181098         NO PP                                                                0
           17181103         NO PP                                                                0
           17181118         HARD                                                                12
           17181128         NO PP                                                                0
           17181129         NO PP                                                                0
           17181137         HARD                                                                12
           17181139         NO PP                                                                0
           17181144         NO PP                                                                0
           17181149         NO PP                                                                0
           17181155         NO PP                                                                0
           17181156         NO PP                                                                0
           17181157         HARD                                                                12
           17181160         NO PP                                                                0
           17171928         NO PP                                                                0
           17171929         NO PP                                                                0
           17171930         NO PP                                                                0
           17171931         NO PP                                                                0
           17171932         NO PP                                                                0
           17171934         NO PP                                                                0
           17171936         NO PP                                                                0
           17171938         NO PP                                                                0
           17171940         NO PP                                                                0
           17171941         NO PP                                                                0
           17171942         NO PP                                                                0
           17171943         NO PP                                                                0
           17171944         NO PP                                                                0
           17171947         NO PP                                                                0
           17171948         NO PP                                                                0
           17171953         NO PP                                                                0
           17171954         NO PP                                                                0
           17171956         NO PP                                                                0
           17171958         NO PP                                                                0
           17171959         NO PP                                                                0
           17171961         NO PP                                                                0
           17171964         NO PP                                                                0
           17171975         NO PP                                                                0
           17171976         NO PP                                                                0
           17171977         NO PP                                                                0
           17171981         HARD                                                                12
           17171984         HARD                                                                12
           17171994         NO PP                                                                0
           17171997         NO PP                                                                0
           17172003         NO PP                                                                0
           17172058         NO PP                                                                0
           17175030         NO PP                                                                0
           17175033         NO PP                                                                0
           17175055         NO PP                                                                0
           17181087         NO PP                                                                0
           17181089         NO PP                                                                0
           17181091         SOFT                                                                 0
           17181127         NO PP                                                                0
           17172118         NO PP                                                                0
           17181142         HARD                                                                12

           LOAN_SEQ           LIEN              BALLOON
           17020574         First Lien             No
           17020737         First Lien             No
           17020575         First Lien             No
           17020498         First Lien             No
           17020499         First Lien             No
           17020820         First Lien             No
           17020821         First Lien             No
           17020660         First Lien             No
           17020822         First Lien             No
           17020661         First Lien             No
           17020823         First Lien             No
           17020662         First Lien             No
           17020824         First Lien             No
           17020663         First Lien             No
           17020825         First Lien             No
           17020664         First Lien             No
           17020826         First Lien             No
           17020665         First Lien             No
           17020827         First Lien             No
           17020828         First Lien             No
           17020667         First Lien             No
           17020829         First Lien             No
           17020668         First Lien             No
           17020669         First Lien             No
           17020830         First Lien             No
           17020831         First Lien             No
           17020670         First Lien             No
           17020832         First Lien             No
           17020833         First Lien             No
           17020671         First Lien             No
           17020834         First Lien             No
           17020672         First Lien             No
           17020835         First Lien             No
           17020673         First Lien             No
           17020836         First Lien             No
           17020674         First Lien             No
           17020837         First Lien             No
           17020675         First Lien             No
           17020838         First Lien             No
           17020676         First Lien             No
           17020839         First Lien             No
           17020677         First Lien             No
           17020678         First Lien             No
           17020679         First Lien             No
           17020840         First Lien             No
           17020841         First Lien             No
           17020842         First Lien             No
           17020680         First Lien             No
           17020843         First Lien             No
           17020681         First Lien             No
           17020844         First Lien             No
           17020682         First Lien             No
           17020845         First Lien             No
           17020683         First Lien             No
           17020846         First Lien             No
           17020684         First Lien             No
           17020685         First Lien             No
           17020848         First Lien             No
           17020686         First Lien             No
           17020849         First Lien             No
           17020687         First Lien             No
           17020688         First Lien             No
           17020689         First Lien             No
           17020850         First Lien             No
           17020657         First Lien             No
           17020495         First Lien             No
           17020819         First Lien             No
           17020658         First Lien             No
           17020496         First Lien             No
           17020659         First Lien             No
           17020497         First Lien             No
           17020492         First Lien             No
           17020816         First Lien             No
           17020655         First Lien             No
           17020493         First Lien             No
           17020817         First Lien             No
           17020656         First Lien             No
           17020494         First Lien             No
           17020812         First Lien             No
           17020651         First Lien             No
           17020813         First Lien             No
           17020814         First Lien             No
           17020652         First Lien             No
           17020490         First Lien             No
           17020491         First Lien             No
           17020815         First Lien             No
           17020654         First Lien             No
           17020500         First Lien             No
           17020501         First Lien             No
           17020502         First Lien             No
           17020503         First Lien             No
           17020504         First Lien             No
           17020505         First Lien             No
           17020506         First Lien             No
           17020507         First Lien             No
           17020508         First Lien             No
           17020509         First Lien             No
           17020510         First Lien             No
           17020511         First Lien             No
           17020512         First Lien             No
           17020513         First Lien             No
           17020514         First Lien             No
           17020515         First Lien             No
           17020516         First Lien             No
           17020517         First Lien             No
           17020518         First Lien             No
           17020519         First Lien             No
           17020520         First Lien             No
           17020521         First Lien             No
           17020522         First Lien             No
           17020523         First Lien             No
           17020524         First Lien             No
           17020525         First Lien             No
           17020526         First Lien             No
           17020527         First Lien             No
           17020528         First Lien             No
           17020529         First Lien             No
           17020530         First Lien             No
           17020531         First Lien             No
           17020532         First Lien             No
           17020533         First Lien             No
           17020534         First Lien             No
           17020535         First Lien             No
           17020536         First Lien             No
           17020537         First Lien             No
           17020538         First Lien             No
           17020539         First Lien             No
           17020700         First Lien             No
           17020701         First Lien             No
           17020702         First Lien             No
           17020540         First Lien             No
           17020703         First Lien             No
           17020541         First Lien             No
           17020704         First Lien             No
           17020542         First Lien             No
           17020705         First Lien             No
           17020543         First Lien             No
           17020706         First Lien             No
           17020544         First Lien             No
           17020707         First Lien             No
           17020545         First Lien             No
           17020708         First Lien             No
           17020546         First Lien             No
           17020547         First Lien             No
           17020385         First Lien             No
           17020548         First Lien             No
           17020386         First Lien             No
           17020549         First Lien             No
           17020387         First Lien             No
           17020388         First Lien             No
           17020389         First Lien             No
           17020710         First Lien             No
           17020711         First Lien             No
           17020550         First Lien             No
           17020712         First Lien             No
           17020551         First Lien             No
           17020713         First Lien             No
           17020714         First Lien             No
           17020552         First Lien             No
           17020715         First Lien             No
           17020553         First Lien             No
           17020391         First Lien             No
           17020392         First Lien             No
           17020554         First Lien             No
           17020716         First Lien             No
           17020717         First Lien             No
           17020555         First Lien             No
           17020393         First Lien             No
           17020718         First Lien             No
           17020556         First Lien             No
           17020394         First Lien             No
           17020395         First Lien             No
           17020557         First Lien             No
           17020719         First Lien             No
           17020558         First Lien             No
           17020397         First Lien             No
           17020559         First Lien             No
           17020398         First Lien             No
           17020399         First Lien             No
           17020720         First Lien             No
           17020721         First Lien             No
           17020722         First Lien             No
           17020560         First Lien             No
           17020723         First Lien             No
           17020561         First Lien             No
           17020724         First Lien             No
           17020562         First Lien             No
           17020725         First Lien             No
           17020563         First Lien             No
           17020726         First Lien             No
           17020564         First Lien             No
           17020727         First Lien             No
           17020565         First Lien             No
           17020728         First Lien             No
           17020566         First Lien             No
           17020729         First Lien             No
           17020567         First Lien             No
           17020568         First Lien             No
           17020569         First Lien             No
           17020730         First Lien             No
           17020731         First Lien             No
           17020732         First Lien             No
           17020570         First Lien             No
           17020733         First Lien             No
           17020571         First Lien             No
           17020734         First Lien             No
           17020572         First Lien             No
           17020735         First Lien             No
           17020573         First Lien             No
           17020736         First Lien             No
           17020487         First Lien             No
           17020488         First Lien             No
           17020489         First Lien             No
           17020810         First Lien             No
           17020811         First Lien             No
           17020650         First Lien             No
           17020791         First Lien             No
           17020792         First Lien             No
           17020793         First Lien             No
           17020794         First Lien             No
           17020795         First Lien             No
           17020796         First Lien             No
           17020797         First Lien             No
           17020798         First Lien             No
           17020799         First Lien             No
           17020790         First Lien             No
           17020646         First Lien             No
           17020484         First Lien             No
           17020808         First Lien             No
           17020647         First Lien             No
           17020485         First Lien             No
           17020809         First Lien             No
           17020648         First Lien             No
           17020486         First Lien             No
           17020649         First Lien             No
           17020781         First Lien             No
           17020782         First Lien             No
           17020783         First Lien             No
           17020784         First Lien             No
           17020785         First Lien             No
           17020786         First Lien             No
           17020787         First Lien             No
           17020788         First Lien             No
           17020789         First Lien             No
           17020612         First Lien             No
           17020450         First Lien             No
           17020613         First Lien             No
           17020451         First Lien             No
           17020614         First Lien             No
           17020452         First Lien             No
           17020615         First Lien             No
           17020453         First Lien             No
           17020616         First Lien             No
           17020454         First Lien             No
           17020617         First Lien             No
           17020455         First Lien             No
           17020456         First Lien             No
           17020618         First Lien             No
           17020619         First Lien             No
           17020457         First Lien             No
           17020458         First Lien             No
           17020459         First Lien             No
           17020620         First Lien             No
           17020621         First Lien             No
           17020622         First Lien             No
           17020460         First Lien             No
           17020623         First Lien             No
           17020461         First Lien             No
           17020624         First Lien             No
           17020462         First Lien             No
           17020625         First Lien             No
           17020463         First Lien             No
           17020626         First Lien             No
           17020464         First Lien             No
           17020627         First Lien             No
           17020465         First Lien             No
           17020628         First Lien             No
           17020466         First Lien             No
           17020629         First Lien             No
           17020467         First Lien             No
           17020468         First Lien             No
           17020469         First Lien             No
           17020630         First Lien             No
           17020631         First Lien             No
           17020632         First Lien             No
           17020470         First Lien             No
           17020633         First Lien             No
           17020471         First Lien             No
           17020634         First Lien             No
           17020472         First Lien             No
           17020635         First Lien             No
           17020473         First Lien             No
           17020636         First Lien             No
           17020474         First Lien             No
           17020637         First Lien             No
           17020475         First Lien             No
           17020638         First Lien             No
           17020476         First Lien             No
           17020477         First Lien             No
           17020478         First Lien             No
           17020479         First Lien             No
           17020800         First Lien             No
           17020801         First Lien             No
           17020640         First Lien             No
           17020802         First Lien             No
           17020641         First Lien             No
           17020803         First Lien             No
           17020642         First Lien             No
           17020480         First Lien             No
           17020804         First Lien             No
           17020643         First Lien             No
           17020481         First Lien             No
           17020805         First Lien             No
           17020644         First Lien             No
           17020482         First Lien             No
           17020806         First Lien             No
           17020645         First Lien             No
           17020483         First Lien             No
           17020807         First Lien             No
           17020436         First Lien             No
           17020437         First Lien             No
           17020438         First Lien             No
           17020439         First Lien             No
           17020600         First Lien             No
           17020601         First Lien             No
           17020602         First Lien             No
           17020440         First Lien             No
           17020603         First Lien             No
           17020441         First Lien             No
           17020604         First Lien             No
           17020442         First Lien             No
           17020605         First Lien             No
           17020606         First Lien             No
           17020444         First Lien             No
           17020607         First Lien             No
           17020445         First Lien             No
           17020608         First Lien             No
           17020446         First Lien             No
           17020609         First Lien             No
           17020447         First Lien             No
           17020448         First Lien             No
           17020449         First Lien             No
           17020610         First Lien             No
           17020611         First Lien             No
           17020771         First Lien             No
           17020772         First Lien             No
           17020773         First Lien             No
           17020774         First Lien             No
           17020775         First Lien             No
           17020777         First Lien             No
           17020778         First Lien             No
           17020779         First Lien             No
           17020780         First Lien             No
           17020400         First Lien             No
           17020401         First Lien             No
           17020402         First Lien             No
           17020403         First Lien             No
           17020404         First Lien             No
           17020405         First Lien             No
           17020406         First Lien             No
           17020407         First Lien             No
           17020408         First Lien             No
           17020409         First Lien             No
           17020410         First Lien             No
           17020411         First Lien             No
           17020412         First Lien             No
           17020413         First Lien             No
           17020415         First Lien             No
           17020416         First Lien             No
           17020417         First Lien             No
           17020418         First Lien             No
           17020419         First Lien             No
           17020420         First Lien             No
           17020421         First Lien             No
           17020422         First Lien             No
           17020423         First Lien             No
           17020424         First Lien             No
           17020425         First Lien             No
           17020427         First Lien             No
           17020428         First Lien             No
           17020429         First Lien             No
           17020430         First Lien             No
           17020431         First Lien             No
           17020432         First Lien             No
           17020433         First Lien             No
           17020434         First Lien             No
           17020761         First Lien             No
           17020762         First Lien             No
           17020763         First Lien             No
           17020764         First Lien             No
           17020765         First Lien             No
           17020766         First Lien             No
           17020767         First Lien             No
           17020768         First Lien             No
           17020769         First Lien             No
           17020770         First Lien             No
           17020851         First Lien             No
           17020852         First Lien             No
           17020690         First Lien             No
           17020853         First Lien             No
           17020691         First Lien             No
           17020854         First Lien             No
           17020692         First Lien             No
           17020855         First Lien             No
           17020693         First Lien             No
           17020856         First Lien             No
           17020694         First Lien             No
           17020857         First Lien             No
           17020695         First Lien             No
           17020858         First Lien             No
           17020696         First Lien             No
           17020859         First Lien             No
           17020697         First Lien             No
           17020698         First Lien             No
           17020699         First Lien             No
           17020860         First Lien             No
           17020861         First Lien             No
           17020862         First Lien             No
           17020740         First Lien             No
           17020741         First Lien             No
           17020742         First Lien             No
           17020580         First Lien             No
           17020743         First Lien             No
           17020581         First Lien             No
           17020744         First Lien             No
           17020582         First Lien             No
           17020745         First Lien             No
           17020583         First Lien             No
           17020746         First Lien             No
           17020584         First Lien             No
           17020747         First Lien             No
           17020585         First Lien             No
           17020748         First Lien             No
           17020586         First Lien             No
           17020749         First Lien             No
           17020587         First Lien             No
           17020588         First Lien             No
           17020589         First Lien             No
           17020750         First Lien             No
           17020751         First Lien             No
           17020590         First Lien             No
           17020752         First Lien             No
           17020591         First Lien             No
           17020753         First Lien             No
           17020592         First Lien             No
           17020754         First Lien             No
           17020593         First Lien             No
           17020755         First Lien             No
           17020594         First Lien             No
           17020756         First Lien             No
           17020595         First Lien             No
           17020757         First Lien             No
           17020596         First Lien             No
           17020758         First Lien             No
           17020597         First Lien             No
           17020759         First Lien             No
           17020598         First Lien             No
           17020599         First Lien             No
           17020760         First Lien             No
           17020738         First Lien             No
           17020576         First Lien             No
           17020739         First Lien             No
           17020577         First Lien             No
           17020578         First Lien             No
           17020390         First Lien             No
           17149253         First Lien             No
           17129133         First Lien             No
           17120372         First Lien             No
           17120377         First Lien             No
           17120399         First Lien             No
           17129138         First Lien             No
           17120386         First Lien             No
           17120389         First Lien             No
           17120412         First Lien             No
           17120421         First Lien             No
           17120390         First Lien             No
           17120391         First Lien             No
           17120392         First Lien             No
           17120393         First Lien             No
           17120394         First Lien             No
           17120395         First Lien             No
           17120397         First Lien             No
           17120398         First Lien             No
           17120385         First Lien             No
           17120387         First Lien             No
           17120388         First Lien             No
           17120384         First Lien             No
           17120330         First Lien             No
           17120331         First Lien             No
           17120332         First Lien             No
           17120333         First Lien             No
           17120334         First Lien             No
           17120335         First Lien             No
           17120336         First Lien             No
           17120337         First Lien             No
           17120338         First Lien             No
           17120339         First Lien             No
           17120341         First Lien             No
           17120342         First Lien             No
           17120343         First Lien             No
           17120344         First Lien             No
           17120346         First Lien             No
           17120347         First Lien             No
           17120348         First Lien             No
           17120349         First Lien             No
           17120350         First Lien             No
           17120351         First Lien             No
           17120353         First Lien             No
           17120354         First Lien             No
           17120355         First Lien             No
           17120356         First Lien             No
           17120357         First Lien             No
           17120358         First Lien             No
           17120359         First Lien             No
           17120360         First Lien             No
           17120361         First Lien             No
           17120362         First Lien             No
           17120363         First Lien             No
           17120364         First Lien             No
           17120365         First Lien             No
           17120366         First Lien             No
           17120367         First Lien             No
           17120370         First Lien             No
           17120371         First Lien             No
           17120373         First Lien             No
           17120374         First Lien             No
           17120375         First Lien             No
           17120376         First Lien             No
           17120378         First Lien             No
           17120379         First Lien             No
           17120380         First Lien             No
           17120381         First Lien             No
           17120382         First Lien             No
           17120383         First Lien             No
           17120327         First Lien             No
           17120328         First Lien             No
           17149240         First Lien             No
           17149241         First Lien             No
           17149242         First Lien             No
           17149243         First Lien             No
           17149244         First Lien             No
           17149245         First Lien             No
           17149246         First Lien             No
           17149247         First Lien             No
           17149248         First Lien             No
           17149249         First Lien             No
           17149250         First Lien             No
           17149251         First Lien             No
           17149252         First Lien             No
           17149100         First Lien             No
           17149101         First Lien             No
           17149102         First Lien             No
           17129130         First Lien             No
           17129131         First Lien             No
           17129132         First Lien             No
           17129134         First Lien             No
           17129135         First Lien             No
           17129136         First Lien             No
           17129137         First Lien             No
           17129139         First Lien             No
           17129140         First Lien             No
           17129141         First Lien             No
           17129142         First Lien             No
           17129144         First Lien             No
           17129145         First Lien             No
           17129127         First Lien             No
           17129128         First Lien             No
           17129129         First Lien             No
           17120410         First Lien             No
           17120411         First Lien             No
           17120413         First Lien             No
           17120414         First Lien             No
           17120415         First Lien             No
           17120416         First Lien             No
           17120417         First Lien             No
           17120418         First Lien             No
           17120419         First Lien             No
           17120420         First Lien             No
           17120422         First Lien             No
           17120423         First Lien             No
           17120424         First Lien             No
           17120425         First Lien             No
           17120426         First Lien             No
           17149077         First Lien             No
           17149078         First Lien             No
           17149079         First Lien             No
           17149080         First Lien             No
           17149081         First Lien             No
           17149082         First Lien             No
           17149083         First Lien             No
           17149084         First Lien             No
           17149086         First Lien             No
           17149087         First Lien             No
           17149088         First Lien             No
           17149089         First Lien             No
           17149090         First Lien             No
           17149091         First Lien             No
           17120401         First Lien             No
           17120402         First Lien             No
           17120403         First Lien             No
           17120404         First Lien             No
           17120405         First Lien             No
           17120406         First Lien             No
           17120407         First Lien             No
           17120408         First Lien             No
           17120409         First Lien             No
           17149092         First Lien             No
           17149093         First Lien             No
           17149094         First Lien             No
           17149095         First Lien             No
           17149096         First Lien             No
           17149097         First Lien             No
           17149098         First Lien             No
           17149099         First Lien             No
           17120498         First Lien             No
           17120455         First Lien             No
           17120477         First Lien             No
           17120490         First Lien             No
           17120532         First Lien             No
           17120544         First Lien             No
           17120540         First Lien             No
           17120541         First Lien             No
           17120542         First Lien             No
           17120543         First Lien             No
           17120545         First Lien             No
           17120546         First Lien             No
           17120547         First Lien             No
           17120548         First Lien             No
           17120549         First Lien             No
           17120550         First Lien             No
           17120551         First Lien             No
           17120552         First Lien             No
           17120553         First Lien             No
           17120554         First Lien             No
           17120555         First Lien             No
           17120556         First Lien             No
           17120557         First Lien             No
           17120558         First Lien             No
           17120559         First Lien             No
           17120560         First Lien             No
           17120561         First Lien             No
           17120562         First Lien             No
           17120563         First Lien             No
           17120564         First Lien             No
           17120565         First Lien             No
           17120566         First Lien             No
           17120567         First Lien             No
           17120568         First Lien             No
           17120569         First Lien             No
           17120570         First Lien             No
           17120571         First Lien             No
           17120572         First Lien             No
           17120573         First Lien             No
           17120574         First Lien             No
           17120575         First Lien             No
           17120576         First Lien             No
           17120526         First Lien             No
           17120527         First Lien             No
           17120528         First Lien             No
           17120529         First Lien             No
           17120530         First Lien             No
           17120531         First Lien             No
           17120533         First Lien             No
           17120534         First Lien             No
           17120535         First Lien             No
           17120536         First Lien             No
           17120537         First Lien             No
           17120538         First Lien             No
           17120539         First Lien             No
           17120510         First Lien             No
           17120511         First Lien             No
           17120512         First Lien             No
           17120513         First Lien             No
           17120514         First Lien             No
           17120515         First Lien             No
           17120516         First Lien             No
           17120517         First Lien             No
           17120518         First Lien             No
           17120519         First Lien             No
           17120520         First Lien             No
           17120521         First Lien             No
           17120522         First Lien             No
           17120523         First Lien             No
           17120524         First Lien             No
           17120525         First Lien             No
           17120500         First Lien             No
           17120501         First Lien             No
           17120502         First Lien             No
           17120503         First Lien             No
           17120504         First Lien             No
           17120505         First Lien             No
           17120506         First Lien             No
           17120507         First Lien             No
           17120508         First Lien             No
           17120509         First Lien             No
           17149110         First Lien             No
           17149111         First Lien             No
           17149112         First Lien             No
           17149113         First Lien             No
           17149103         First Lien             No
           17149105         First Lien             No
           17149106         First Lien             No
           17149107         First Lien             No
           17149108         First Lien             No
           17149109         First Lien             No
           17120450         First Lien             No
           17120451         First Lien             No
           17120452         First Lien             No
           17120453         First Lien             No
           17120454         First Lien             No
           17120456         First Lien             No
           17120457         First Lien             No
           17120458         First Lien             No
           17120459         First Lien             No
           17120460         First Lien             No
           17120461         First Lien             No
           17120462         First Lien             No
           17120463         First Lien             No
           17120464         First Lien             No
           17120465         First Lien             No
           17120466         First Lien             No
           17120467         First Lien             No
           17120468         First Lien             No
           17120469         First Lien             No
           17120470         First Lien             No
           17120471         First Lien             No
           17120472         First Lien             No
           17120473         First Lien             No
           17120474         First Lien             No
           17120476         First Lien             No
           17120478         First Lien             No
           17120479         First Lien             No
           17120480         First Lien             No
           17120481         First Lien             No
           17120482         First Lien             No
           17120483         First Lien             No
           17120484         First Lien             No
           17120485         First Lien             No
           17120486         First Lien             No
           17120487         First Lien             No
           17120488         First Lien             No
           17120489         First Lien             No
           17120491         First Lien             No
           17120492         First Lien             No
           17120493         First Lien             No
           17120494         First Lien             No
           17120495         First Lien             No
           17120496         First Lien             No
           17120499         First Lien             No
           17120429         First Lien             No
           17120430         First Lien             No
           17120431         First Lien             No
           17120432         First Lien             No
           17120433         First Lien             No
           17120434         First Lien             No
           17120436         First Lien             No
           17120437         First Lien             No
           17120438         First Lien             No
           17120440         First Lien             No
           17120441         First Lien             No
           17120442         First Lien             No
           17120443         First Lien             No
           17120444         First Lien             No
           17120445         First Lien             No
           17120446         First Lien             No
           17120447         First Lien             No
           17120448         First Lien             No
           17120449         First Lien             No
           17181086         First Lien             No
           17171924         First Lien             No
           17172078         First Lien             No
           17175048         First Lien             No
           17175049         First Lien             No
           17171987         First Lien             No
           17172020         First Lien             No
           17203440         First Lien             No
           17172004         First Lien             No
           17172023         First Lien             No
           17172005         First Lien             No
           17203443         First Lien             No
           17203445         First Lien             No
           17203409         First Lien             No
           17172044         First Lien             No
           17203427         First Lien             No
           17172008         First Lien             No
           17181117         First Lien             No
           17172064         First Lien             No
           17203267         First Lien             No
           17175071         First Lien             No
           17172065         First Lien             No
           17175054         First Lien             No
           17172048         First Lien             No
           17172049         First Lien             No
           17171951         First Lien             No
           17171995         First Lien             No
           17203410         First Lien             No
           17181120         First Lien             No
           17172112         First Lien             No
           17172014         First Lien             No
           17203451         First Lien             No
           17172051         First Lien             No
           17203255         First Lien             No
           17172053         First Lien             No
           17203437         First Lien             No
           17172036         First Lien             No
           17172136         First Lien             No
           17172073         First Lien             No
           17172055         First Lien             No
           17203294         First Lien             No
           17203278         First Lien             No
           17203359         First Lien             No
           17172039         First Lien             No
           17203396         First Lien             No
           17203423         First Lien             No
           17203388         First Lien             No
           17203364         First Lien             No
           17203354         First Lien             No
           17203317         First Lien             No
           17171965         First Lien             No
           17203331         First Lien             No
           17172132         First Lien             No
           17172133         First Lien             No
           17172127         First Lien             No
           17172130         First Lien             No
           17172104         First Lien             No
           17172114         First Lien             No
           17172125         First Lien             No
           17172126         First Lien             No
           17171998         First Lien             No
           17172001         First Lien             No
           17172002         First Lien             No
           17172010         First Lien             No
           17172022         First Lien             No
           17172033         First Lien             No
           17172041         First Lien             No
           17172057         First Lien             No
           17172061         First Lien             No
           17172068         First Lien             No
           17172074         First Lien             No
           17172084         First Lien             No
           17172086         First Lien             No
           17171926         First Lien             No
           17171946         First Lien             No
           17171952         First Lien             No
           17171957         First Lien             No
           17171960         First Lien             No
           17171979         First Lien             No
           17171980         First Lien             No
           17171983         First Lien             No
           17171990         First Lien             No
           17171992         First Lien             No
           17171922         First Lien             No
           17203303         First Lien             No
           17203452         First Lien             No
           17203340         First Lien             No
           17203351         First Lien             No
           17203283         First Lien             No
           17203252         First Lien             No
           17203412         First Lien             No
           17203321         First Lien             No
           17203385         First Lien             No
           17203392         First Lien             No
           17203401         First Lien             No
           17203435         First Lien             No
           17203383         First Lien             No
           17203323         First Lien             No
           17203449         First Lien             No
           17203328         First Lien             No
           17203339         First Lien             No
           17203315         First Lien             No
           17203257         First Lien             No
           17203295         First Lien             No
           17203290         First Lien             No
           17203299         First Lien             No
           17203424         First Lien             No
           17203379         First Lien             No
           17203256         First Lien             No
           17203422         First Lien             No
           17203253         First Lien             No
           17203312         First Lien             No
           17203293         First Lien             No
           17203418         First Lien             No
           17203314         First Lien             No
           17203448         First Lien             No
           17203384         First Lien             No
           17203281         First Lien             No
           17203348         First Lien             No
           17203390         First Lien             No
           17203310         First Lien             No
           17203363         First Lien             No
           17203425         First Lien             No
           17203373         First Lien             No
           17203266         First Lien             No
           17203358         First Lien             No
           17203429         First Lien             No
           17203371         First Lien             No
           17203337         First Lien             No
           17203421         First Lien             No
           17203430         First Lien             No
           17203247         First Lien             No
           17203320         First Lien             No
           17203405         First Lien             No
           17203270         First Lien             No
           17203362         First Lien             No
           17203361         First Lien             No
           17203272         First Lien             No
           17203350         First Lien             No
           17203403         First Lien             No
           17203301         First Lien             No
           17203349         First Lien             No
           17203338         First Lien             No
           17203345         First Lien             No
           17203307         First Lien             No
           17203357         First Lien             No
           17203442         First Lien             No
           17203277         First Lien             No
           17203280         First Lien             No
           17203344         First Lien             No
           17203381         First Lien             No
           17203436         First Lien             No
           17203333         First Lien             No
           17203316         First Lien             No
           17203305         First Lien             No
           17203292         First Lien             No
           17203419         First Lien             No
           17203433         First Lien             No
           17203438         First Lien             No
           17203284         First Lien             No
           17203275         First Lien             No
           17203411         First Lien             No
           17203324         First Lien             No
           17203408         First Lien             No
           17203300         First Lien             No
           17203273         First Lien             No
           17203446         First Lien             No
           17203415         First Lien             No
           17203389         First Lien             No
           17203398         First Lien             No
           17203274         First Lien             No
           17203318         First Lien             No
           17203391         First Lien             No
           17203399         First Lien             No
           17203450         First Lien             No
           17203447         First Lien             No
           17203453         First Lien             No
           17203428         First Lien             No
           17203313         First Lien             No
           17203431         First Lien             No
           17203417         First Lien             No
           17203343         First Lien             No
           17203360         First Lien             No
           17203416         First Lien             No
           17203406         First Lien             No
           17203367         First Lien             No
           17203380         First Lien             No
           17203286         First Lien             No
           17203330         First Lien             No
           17203249         First Lien             No
           17203342         First Lien             No
           17203346         First Lien             No
           17203264         First Lien             No
           17203322         First Lien             No
           17203397         First Lien             No
           17203407         First Lien             No
           17203336         First Lien             No
           17203374         First Lien             No
           17203329         First Lien             No
           17203327         First Lien             No
           17203369         First Lien             No
           17203335         First Lien             No
           17203291         First Lien             No
           17203289         First Lien             No
           17203372         First Lien             No
           17203296         First Lien             No
           17203254         First Lien             No
           17203444         First Lien             No
           17203365         First Lien             No
           17203259         First Lien             No
           17203366         First Lien             No
           17203353         First Lien             No
           17203285         First Lien             No
           17203352         First Lien             No
           17203306         First Lien             No
           17203414         First Lien             No
           17203393         First Lien             No
           17203382         First Lien             No
           17203302         First Lien             No
           17203356         First Lien             No
           17203387         First Lien             No
           17203377         First Lien             No
           17203308         First Lien             No
           17203276         First Lien             No
           17203288         First Lien             No
           17203378         First Lien             No
           17203376         First Lien             No
           17203370         First Lien             No
           17203248         First Lien             No
           17203341         First Lien             No
           17203334         First Lien             No
           17203395         First Lien             No
           17203332         First Lien             No
           17203309         First Lien             No
           17203375         First Lien             No
           17203279         First Lien             No
           17203386         First Lien             No
           17203311         First Lien             No
           17203420         First Lien             No
           17203402         First Lien             No
           17203439         First Lien             No
           17203297         First Lien             No
           17203282         First Lien             No
           17203368         First Lien             No
           17203394         First Lien             No
           17203400         First Lien             No
           17203355         First Lien             No
           17203404         First Lien             No
           17203426         First Lien             No
           17203298         First Lien             No
           17203304         First Lien             No
           17203434         First Lien             No
           17171962         First Lien             No
           17171963         First Lien             No
           17171966         First Lien             No
           17171967         First Lien             No
           17171968         First Lien             No
           17171969         First Lien             No
           17171970         First Lien             No
           17171971         First Lien             No
           17171973         First Lien             No
           17171974         First Lien             No
           17171978         First Lien             No
           17171982         First Lien             No
           17171985         First Lien             No
           17171986         First Lien             No
           17171988         First Lien             No
           17171989         First Lien             No
           17171991         First Lien             No
           17171993         First Lien             No
           17171996         First Lien             No
           17171999         First Lien             No
           17171950         First Lien             No
           17171955         First Lien             No
           17171916         First Lien             No
           17171917         First Lien             No
           17171918         First Lien             No
           17171919         First Lien             No
           17171920         First Lien             No
           17171921         First Lien             No
           17171923         First Lien             No
           17171925         First Lien             No
           17171927         First Lien             No
           17171933         First Lien             No
           17171935         First Lien             No
           17171937         First Lien             No
           17171939         First Lien             No
           17171945         First Lien             No
           17171949         First Lien             No
           17175070         First Lien             No
           17175072         First Lien             No
           17175056         First Lien             No
           17175057         First Lien             No
           17175059         First Lien             No
           17175060         First Lien             No
           17175061         First Lien             No
           17175062         First Lien             No
           17175063         First Lien             No
           17175064         First Lien             No
           17175065         First Lien             No
           17175066         First Lien             No
           17175067         First Lien             No
           17175068         First Lien             No
           17175069         First Lien             No
           17175031         First Lien             No
           17175032         First Lien             No
           17175034         First Lien             No
           17175035         First Lien             No
           17175036         First Lien             No
           17175037         First Lien             No
           17175040         First Lien             No
           17175041         First Lien             No
           17175042         First Lien             No
           17175043         First Lien             No
           17175045         First Lien             No
           17175046         First Lien             No
           17175047         First Lien             No
           17175050         First Lien             No
           17175051         First Lien             No
           17175052         First Lien             No
           17175053         First Lien             No
           17175024         First Lien             No
           17175025         First Lien             No
           17175026         First Lien             No
           17175027         First Lien             No
           17175028         First Lien             No
           17175029         First Lien             No
           17172120         First Lien             No
           17172121         First Lien             No
           17172122         First Lien             No
           17172123         First Lien             No
           17172124         First Lien             No
           17172128         First Lien             No
           17172129         First Lien             No
           17172131         First Lien             No
           17172134         First Lien             No
           17172135         First Lien             No
           17172137         First Lien             No
           17172138         First Lien             No
           17172139         First Lien             No
           17172100         First Lien             No
           17172101         First Lien             No
           17172102         First Lien             No
           17172103         First Lien             No
           17172105         First Lien             No
           17172106         First Lien             No
           17172107         First Lien             No
           17172108         First Lien             No
           17172109         First Lien             No
           17172110         First Lien             No
           17172111         First Lien             No
           17172113         First Lien             No
           17172115         First Lien             No
           17172116         First Lien             No
           17172117         First Lien             No
           17172119         First Lien             No
           17181161         First Lien             No
           17172090         First Lien             No
           17181162         First Lien             No
           17172091         First Lien             No
           17172092         First Lien             No
           17172093         First Lien             No
           17172094         First Lien             No
           17172095         First Lien             No
           17172097         First Lien             No
           17172098         First Lien             No
           17172099         First Lien             No
           17181150         First Lien             No
           17181151         First Lien             No
           17172080         First Lien             No
           17181152         First Lien             No
           17172081         First Lien             No
           17181153         First Lien             No
           17172082         First Lien             No
           17181154         First Lien             No
           17172083         First Lien             No
           17172085         First Lien             No
           17181158         First Lien             No
           17172087         First Lien             No
           17181159         First Lien             No
           17172088         First Lien             No
           17172089         First Lien             No
           17172060         First Lien             No
           17181132         First Lien             No
           17181133         First Lien             No
           17172062         First Lien             No
           17181134         First Lien             No
           17172063         First Lien             No
           17181135         First Lien             No
           17181136         First Lien             No
           17172066         First Lien             No
           17181138         First Lien             No
           17172067         First Lien             No
           17172069         First Lien             No
           17181140         First Lien             No
           17172070         First Lien             No
           17172071         First Lien             No
           17181143         First Lien             No
           17172072         First Lien             No
           17181145         First Lien             No
           17181146         First Lien             No
           17172075         First Lien             No
           17181147         First Lien             No
           17172076         First Lien             No
           17181148         First Lien             No
           17172077         First Lien             No
           17172079         First Lien             No
           17181130         First Lien             No
           17181131         First Lien             No
           17181121         First Lien             No
           17172050         First Lien             No
           17181122         First Lien             No
           17181123         First Lien             No
           17172052         First Lien             No
           17181124         First Lien             No
           17181125         First Lien             No
           17172054         First Lien             No
           17181126         First Lien             No
           17172056         First Lien             No
           17172059         First Lien             No
           17172047         First Lien             No
           17181119         First Lien             No
           17172021         First Lien             No
           17172024         First Lien             No
           17172025         First Lien             No
           17172026         First Lien             No
           17172027         First Lien             No
           17172028         First Lien             No
           17172029         First Lien             No
           17181100         First Lien             No
           17181101         First Lien             No
           17172030         First Lien             No
           17181102         First Lien             No
           17172031         First Lien             No
           17172032         First Lien             No
           17181104         First Lien             No
           17181105         First Lien             No
           17172034         First Lien             No
           17181106         First Lien             No
           17172035         First Lien             No
           17181107         First Lien             No
           17181108         First Lien             No
           17172037         First Lien             No
           17181109         First Lien             No
           17172038         First Lien             No
           17181110         First Lien             No
           17181111         First Lien             No
           17172040         First Lien             No
           17181112         First Lien             No
           17181113         First Lien             No
           17172042         First Lien             No
           17181114         First Lien             No
           17172043         First Lien             No
           17181115         First Lien             No
           17181116         First Lien             No
           17172045         First Lien             No
           17172046         First Lien             No
           17172017         First Lien             No
           17172018         First Lien             No
           17172019         First Lien             No
           17172000         First Lien             No
           17172006         First Lien             No
           17172007         First Lien             No
           17172009         First Lien             No
           17172011         First Lien             No
           17172013         First Lien             No
           17172015         First Lien             No
           17172016         First Lien             No
           17181088         First Lien             No
           17181090         First Lien             No
           17181092         First Lien             No
           17181093         First Lien             No
           17181094         First Lien             No
           17181095         First Lien             No
           17181096         First Lien             No
           17181097         First Lien             No
           17181099         First Lien             No
           17181082         First Lien             No
           17181083         First Lien             No
           17181084         First Lien             No
           17181085         First Lien             No
           17172140         First Lien             No
           17172141         First Lien             No
           17172142         First Lien             No
           17175038         First Lien             No
           17175039         First Lien             No
           17175044         First Lien             No
           17175073         First Lien             No
           17181098         First Lien             No
           17181103         First Lien             No
           17181118         First Lien             No
           17181128         First Lien             No
           17181129         First Lien             No
           17181137         First Lien             No
           17181139         First Lien             No
           17181144         First Lien             No
           17181149         First Lien             No
           17181155         First Lien             No
           17181156         First Lien             No
           17181157         First Lien             No
           17181160         First Lien             No
           17171928         First Lien             No
           17171929         First Lien             No
           17171930         First Lien             No
           17171931         First Lien             No
           17171932         First Lien             No
           17171934         First Lien             No
           17171936         First Lien             No
           17171938         First Lien             No
           17171940         First Lien             No
           17171941         First Lien             No
           17171942         First Lien             No
           17171943         First Lien             No
           17171944         First Lien             No
           17171947         First Lien             No
           17171948         First Lien             No
           17171953         First Lien             No
           17171954         First Lien             No
           17171956         First Lien             No
           17171958         First Lien             No
           17171959         First Lien             No
           17171961         First Lien             No
           17171964         First Lien             No
           17171975         First Lien             No
           17171976         First Lien             No
           17171977         First Lien             No
           17171981         First Lien             No
           17171984         First Lien             No
           17171994         First Lien             No
           17171997         First Lien             No
           17172003         First Lien             No
           17172058         First Lien             No
           17175030         First Lien             No
           17175033         First Lien             No
           17175055         First Lien             No
           17181087         First Lien             No
           17181089         First Lien             No
           17181091         First Lien             No
           17181127         First Lien             No
           17172118         First Lien             No
           17181142         First Lien             No

           LOAN_SEQ        IO_FLAG                             IO_PERIOD
           17020574         Yes                                    60
           17020737         Yes                                   120
           17020575         Yes                                   120
           17020498         Yes                                    60
           17020499         No                                      0
           17020820         Yes                                   120
           17020821         Yes                                   120
           17020660         Yes                                    60
           17020822         Yes                                   120
           17020661         Yes                                   120
           17020823         Yes                                   120
           17020662         Yes                                   120
           17020824         Yes                                   120
           17020663         Yes                                   120
           17020825         Yes                                   120
           17020664         Yes                                    60
           17020826         Yes                                   120
           17020665         Yes                                    60
           17020827         Yes                                   120
           17020828         Yes                                   120
           17020667         Yes                                    60
           17020829         Yes                                   120
           17020668         Yes                                    60
           17020669         Yes                                   120
           17020830         Yes                                   120
           17020831         Yes                                   120
           17020670         Yes                                   120
           17020832         Yes                                   120
           17020833         Yes                                   120
           17020671         Yes                                   120
           17020834         Yes                                   120
           17020672         Yes                                    60
           17020835         Yes                                   120
           17020673         No                                      0
           17020836         Yes                                   120
           17020674         Yes                                    60
           17020837         Yes                                   120
           17020675         Yes                                   120
           17020838         Yes                                   120
           17020676         Yes                                    60
           17020839         Yes                                   120
           17020677         Yes                                   120
           17020678         Yes                                   120
           17020679         Yes                                   120
           17020840         Yes                                   120
           17020841         Yes                                   120
           17020842         Yes                                   120
           17020680         Yes                                   120
           17020843         Yes                                   120
           17020681         Yes                                   120
           17020844         Yes                                   120
           17020682         Yes                                    60
           17020845         Yes                                   120
           17020683         Yes                                    60
           17020846         Yes                                   120
           17020684         Yes                                   120
           17020685         No                                      0
           17020848         Yes                                   120
           17020686         Yes                                    60
           17020849         Yes                                   120
           17020687         Yes                                    60
           17020688         Yes                                   120
           17020689         Yes                                    60
           17020850         Yes                                   120
           17020657         Yes                                    60
           17020495         Yes                                    60
           17020819         Yes                                   120
           17020658         Yes                                   120
           17020496         Yes                                    60
           17020659         Yes                                    60
           17020497         Yes                                    60
           17020492         Yes                                    60
           17020816         Yes                                   120
           17020655         Yes                                   120
           17020493         Yes                                    60
           17020817         Yes                                   120
           17020656         Yes                                    60
           17020494         Yes                                    60
           17020812         Yes                                   120
           17020651         Yes                                    60
           17020813         Yes                                   120
           17020814         Yes                                   120
           17020652         Yes                                    60
           17020490         Yes                                   120
           17020491         Yes                                    60
           17020815         Yes                                   120
           17020654         Yes                                    60
           17020500         Yes                                    60
           17020501         Yes                                    60
           17020502         No                                      0
           17020503         Yes                                   120
           17020504         Yes                                    60
           17020505         Yes                                    60
           17020506         No                                      0
           17020507         Yes                                    60
           17020508         Yes                                    60
           17020509         Yes                                    60
           17020510         Yes                                   120
           17020511         Yes                                    60
           17020512         Yes                                    60
           17020513         Yes                                   120
           17020514         Yes                                   120
           17020515         Yes                                    60
           17020516         Yes                                   120
           17020517         No                                      0
           17020518         Yes                                   120
           17020519         Yes                                   120
           17020520         Yes                                    60
           17020521         Yes                                   120
           17020522         Yes                                    60
           17020523         No                                      0
           17020524         Yes                                   120
           17020525         Yes                                    60
           17020526         Yes                                    60
           17020527         Yes                                   120
           17020528         Yes                                    60
           17020529         Yes                                    60
           17020530         Yes                                    60
           17020531         Yes                                    60
           17020532         No                                      0
           17020533         Yes                                    60
           17020534         No                                      0
           17020535         No                                      0
           17020536         No                                      0
           17020537         Yes                                    60
           17020538         Yes                                    60
           17020539         Yes                                   120
           17020700         Yes                                    60
           17020701         Yes                                   120
           17020702         Yes                                   120
           17020540         No                                      0
           17020703         Yes                                    60
           17020541         Yes                                   120
           17020704         Yes                                    60
           17020542         No                                      0
           17020705         Yes                                   120
           17020543         Yes                                    60
           17020706         Yes                                   120
           17020544         Yes                                    60
           17020707         Yes                                   120
           17020545         Yes                                    60
           17020708         Yes                                   120
           17020546         Yes                                   120
           17020547         Yes                                   120
           17020385         Yes                                   120
           17020548         No                                      0
           17020386         Yes                                    60
           17020549         Yes                                   120
           17020387         Yes                                    60
           17020388         Yes                                   120
           17020389         Yes                                   120
           17020710         No                                      0
           17020711         Yes                                   120
           17020550         Yes                                   120
           17020712         Yes                                   120
           17020551         Yes                                    60
           17020713         No                                      0
           17020714         No                                      0
           17020552         Yes                                    60
           17020715         Yes                                   120
           17020553         Yes                                    60
           17020391         Yes                                    60
           17020392         Yes                                    60
           17020554         Yes                                    60
           17020716         Yes                                   120
           17020717         Yes                                   120
           17020555         Yes                                    60
           17020393         Yes                                   120
           17020718         Yes                                   120
           17020556         Yes                                   120
           17020394         Yes                                    60
           17020395         Yes                                   120
           17020557         Yes                                    60
           17020719         Yes                                   120
           17020558         No                                      0
           17020397         Yes                                    60
           17020559         Yes                                   120
           17020398         Yes                                    60
           17020399         Yes                                   120
           17020720         Yes                                   120
           17020721         Yes                                   120
           17020722         Yes                                   120
           17020560         Yes                                   120
           17020723         Yes                                   120
           17020561         Yes                                    60
           17020724         No                                      0
           17020562         Yes                                    60
           17020725         Yes                                   120
           17020563         Yes                                    60
           17020726         Yes                                   120
           17020564         Yes                                    60
           17020727         Yes                                   120
           17020565         Yes                                    60
           17020728         Yes                                   120
           17020566         Yes                                    60
           17020729         No                                      0
           17020567         No                                      0
           17020568         Yes                                    60
           17020569         Yes                                   120
           17020730         No                                      0
           17020731         Yes                                   120
           17020732         Yes                                   120
           17020570         Yes                                   120
           17020733         Yes                                   120
           17020571         Yes                                    60
           17020734         Yes                                   120
           17020572         Yes                                    60
           17020735         Yes                                   120
           17020573         Yes                                    60
           17020736         Yes                                   120
           17020487         No                                      0
           17020488         Yes                                    60
           17020489         Yes                                    60
           17020810         Yes                                   120
           17020811         Yes                                   120
           17020650         Yes                                   120
           17020791         Yes                                   120
           17020792         Yes                                   120
           17020793         Yes                                   120
           17020794         Yes                                   120
           17020795         Yes                                   120
           17020796         Yes                                   120
           17020797         Yes                                   120
           17020798         Yes                                   120
           17020799         Yes                                   120
           17020790         Yes                                   120
           17020646         Yes                                    60
           17020484         Yes                                    60
           17020808         Yes                                   120
           17020647         Yes                                   120
           17020485         Yes                                    60
           17020809         Yes                                   120
           17020648         Yes                                   120
           17020486         Yes                                   120
           17020649         No                                      0
           17020781         Yes                                   120
           17020782         Yes                                   120
           17020783         Yes                                   120
           17020784         Yes                                   120
           17020785         Yes                                   120
           17020786         Yes                                   120
           17020787         Yes                                   120
           17020788         Yes                                   120
           17020789         Yes                                   120
           17020612         Yes                                    60
           17020450         Yes                                    60
           17020613         Yes                                    60
           17020451         Yes                                   120
           17020614         No                                      0
           17020452         No                                      0
           17020615         No                                      0
           17020453         Yes                                    60
           17020616         Yes                                    60
           17020454         No                                      0
           17020617         Yes                                   120
           17020455         Yes                                    60
           17020456         No                                      0
           17020618         No                                      0
           17020619         Yes                                   120
           17020457         Yes                                    60
           17020458         No                                      0
           17020459         Yes                                    60
           17020620         Yes                                    60
           17020621         Yes                                    60
           17020622         Yes                                    60
           17020460         Yes                                   120
           17020623         No                                      0
           17020461         Yes                                    60
           17020624         Yes                                    60
           17020462         Yes                                    60
           17020625         Yes                                    60
           17020463         Yes                                   120
           17020626         Yes                                    60
           17020464         Yes                                   120
           17020627         Yes                                    60
           17020465         Yes                                    60
           17020628         Yes                                    60
           17020466         Yes                                    60
           17020629         Yes                                    60
           17020467         Yes                                   120
           17020468         Yes                                   120
           17020469         Yes                                   120
           17020630         Yes                                    60
           17020631         Yes                                   120
           17020632         Yes                                    60
           17020470         Yes                                   120
           17020633         Yes                                   120
           17020471         Yes                                    60
           17020634         Yes                                    60
           17020472         Yes                                   120
           17020635         No                                      0
           17020473         Yes                                    60
           17020636         Yes                                   120
           17020474         Yes                                   120
           17020637         Yes                                    60
           17020475         No                                      0
           17020638         Yes                                    60
           17020476         Yes                                    60
           17020477         Yes                                   120
           17020478         Yes                                   120
           17020479         Yes                                   120
           17020800         Yes                                   120
           17020801         Yes                                   120
           17020640         Yes                                    60
           17020802         Yes                                   120
           17020641         Yes                                    60
           17020803         Yes                                   120
           17020642         Yes                                   120
           17020480         Yes                                    60
           17020804         Yes                                   120
           17020643         No                                      0
           17020481         Yes                                    60
           17020805         Yes                                   120
           17020644         Yes                                    60
           17020482         Yes                                   120
           17020806         Yes                                   120
           17020645         No                                      0
           17020483         Yes                                    60
           17020807         Yes                                   120
           17020436         Yes                                   120
           17020437         Yes                                    60
           17020438         Yes                                   120
           17020439         No                                      0
           17020600         Yes                                   120
           17020601         Yes                                   120
           17020602         Yes                                    60
           17020440         Yes                                   120
           17020603         Yes                                    60
           17020441         Yes                                    60
           17020604         Yes                                   120
           17020442         Yes                                   120
           17020605         Yes                                   120
           17020606         Yes                                   120
           17020444         Yes                                    60
           17020607         Yes                                    60
           17020445         Yes                                   120
           17020608         Yes                                   120
           17020446         Yes                                    60
           17020609         Yes                                    60
           17020447         Yes                                   120
           17020448         No                                      0
           17020449         Yes                                    60
           17020610         Yes                                    60
           17020611         Yes                                   120
           17020771         Yes                                   120
           17020772         Yes                                   120
           17020773         Yes                                   120
           17020774         Yes                                   120
           17020775         Yes                                   120
           17020777         Yes                                   120
           17020778         Yes                                   120
           17020779         Yes                                   120
           17020780         Yes                                   120
           17020400         Yes                                   120
           17020401         No                                      0
           17020402         Yes                                   120
           17020403         Yes                                   120
           17020404         Yes                                   120
           17020405         Yes                                   120
           17020406         Yes                                   120
           17020407         Yes                                   120
           17020408         Yes                                   120
           17020409         Yes                                   120
           17020410         Yes                                   120
           17020411         Yes                                   120
           17020412         Yes                                   120
           17020413         Yes                                   120
           17020415         Yes                                   120
           17020416         Yes                                   120
           17020417         Yes                                   120
           17020418         Yes                                   120
           17020419         Yes                                   120
           17020420         Yes                                   120
           17020421         Yes                                   120
           17020422         No                                      0
           17020423         Yes                                    60
           17020424         Yes                                    60
           17020425         Yes                                    60
           17020427         Yes                                    60
           17020428         Yes                                    60
           17020429         Yes                                   120
           17020430         Yes                                    60
           17020431         Yes                                   120
           17020432         Yes                                    60
           17020433         Yes                                    60
           17020434         Yes                                   120
           17020761         Yes                                   120
           17020762         Yes                                   120
           17020763         Yes                                   120
           17020764         Yes                                   120
           17020765         Yes                                   120
           17020766         Yes                                   120
           17020767         Yes                                   120
           17020768         Yes                                   120
           17020769         Yes                                   120
           17020770         Yes                                   120
           17020851         Yes                                   120
           17020852         Yes                                   120
           17020690         Yes                                   120
           17020853         Yes                                   120
           17020691         Yes                                   120
           17020854         Yes                                   120
           17020692         Yes                                    60
           17020855         Yes                                   120
           17020693         Yes                                    60
           17020856         Yes                                   120
           17020694         No                                      0
           17020857         Yes                                   120
           17020695         Yes                                    60
           17020858         Yes                                   120
           17020696         Yes                                    60
           17020859         Yes                                   120
           17020697         Yes                                    60
           17020698         Yes                                   120
           17020699         Yes                                    60
           17020860         Yes                                   120
           17020861         Yes                                   120
           17020862         Yes                                   120
           17020740         No                                      0
           17020741         Yes                                   120
           17020742         No                                      0
           17020580         Yes                                   120
           17020743         Yes                                   120
           17020581         Yes                                    60
           17020744         Yes                                   120
           17020582         Yes                                    60
           17020745         Yes                                   120
           17020583         Yes                                   120
           17020746         Yes                                   120
           17020584         Yes                                    60
           17020747         Yes                                   120
           17020585         Yes                                   120
           17020748         Yes                                   120
           17020586         Yes                                    60
           17020749         Yes                                   120
           17020587         Yes                                    60
           17020588         Yes                                   120
           17020589         Yes                                   120
           17020750         No                                      0
           17020751         Yes                                   120
           17020590         Yes                                    60
           17020752         Yes                                   120
           17020591         Yes                                   120
           17020753         Yes                                   120
           17020592         Yes                                    60
           17020754         Yes                                   120
           17020593         Yes                                   120
           17020755         Yes                                   120
           17020594         Yes                                    60
           17020756         Yes                                   120
           17020595         Yes                                    60
           17020757         Yes                                   120
           17020596         No                                      0
           17020758         Yes                                   120
           17020597         No                                      0
           17020759         Yes                                   120
           17020598         Yes                                   120
           17020599         No                                      0
           17020760         Yes                                   120
           17020738         Yes                                   120
           17020576         Yes                                    60
           17020739         Yes                                   120
           17020577         No                                      0
           17020578         Yes                                    60
           17020390         Yes                                    60
           17149253         Yes                                   120
           17129133         Yes                                   120
           17120372         Yes                                   120
           17120377         Yes                                   120
           17120399         Yes                                   120
           17129138         Yes                                   120
           17120386         Yes                                   120
           17120389         No                                      0
           17120412         No                                      0
           17120421         Yes                                   120
           17120390         Yes                                   120
           17120391         Yes                                   120
           17120392         Yes                                   120
           17120393         Yes                                   120
           17120394         Yes                                   120
           17120395         Yes                                   120
           17120397         No                                      0
           17120398         Yes                                   120
           17120385         Yes                                   120
           17120387         Yes                                   120
           17120388         Yes                                   120
           17120384         Yes                                   120
           17120330         Yes                                    84
           17120331         No                                      0
           17120332         Yes                                   120
           17120333         Yes                                   120
           17120334         Yes                                   120
           17120335         Yes                                   120
           17120336         Yes                                   120
           17120337         Yes                                   120
           17120338         Yes                                   120
           17120339         Yes                                   120
           17120341         Yes                                   120
           17120342         Yes                                   120
           17120343         Yes                                   120
           17120344         No                                      0
           17120346         Yes                                   120
           17120347         Yes                                   120
           17120348         Yes                                   120
           17120349         No                                      0
           17120350         Yes                                   120
           17120351         Yes                                   120
           17120353         No                                      0
           17120354         Yes                                   120
           17120355         Yes                                   120
           17120356         Yes                                   120
           17120357         Yes                                   120
           17120358         Yes                                   120
           17120359         Yes                                   120
           17120360         Yes                                   120
           17120361         Yes                                   120
           17120362         Yes                                   120
           17120363         Yes                                   120
           17120364         Yes                                   120
           17120365         Yes                                   120
           17120366         Yes                                   120
           17120367         Yes                                   120
           17120370         Yes                                   120
           17120371         Yes                                   120
           17120373         Yes                                   120
           17120374         Yes                                   120
           17120375         Yes                                   120
           17120376         Yes                                   120
           17120378         Yes                                   120
           17120379         Yes                                   120
           17120380         Yes                                   120
           17120381         Yes                                   120
           17120382         Yes                                   120
           17120383         Yes                                   120
           17120327         Yes                                    84
           17120328         No                                      0
           17149240         Yes                                   120
           17149241         Yes                                   120
           17149242         Yes                                   120
           17149243         Yes                                    84
           17149244         Yes                                   120
           17149245         Yes                                   120
           17149246         Yes                                   120
           17149247         Yes                                   120
           17149248         Yes                                   120
           17149249         Yes                                   120
           17149250         Yes                                   120
           17149251         Yes                                   120
           17149252         Yes                                   120
           17149100         Yes                                   120
           17149101         Yes                                   120
           17149102         No                                      0
           17129130         Yes                                    84
           17129131         Yes                                    84
           17129132         Yes                                    84
           17129134         Yes                                   120
           17129135         No                                      0
           17129136         Yes                                   120
           17129137         Yes                                   120
           17129139         Yes                                   120
           17129140         Yes                                   120
           17129141         No                                      0
           17129142         Yes                                   120
           17129144         Yes                                   120
           17129145         Yes                                   120
           17129127         Yes                                    84
           17129128         Yes                                    84
           17129129         Yes                                   120
           17120410         Yes                                   120
           17120411         Yes                                   120
           17120413         Yes                                   120
           17120414         Yes                                   120
           17120415         Yes                                   120
           17120416         Yes                                   120
           17120417         Yes                                   120
           17120418         Yes                                   120
           17120419         Yes                                   120
           17120420         Yes                                   120
           17120422         Yes                                   120
           17120423         Yes                                   120
           17120424         Yes                                   120
           17120425         Yes                                   120
           17120426         Yes                                   120
           17149077         Yes                                    84
           17149078         Yes                                    84
           17149079         Yes                                    84
           17149080         Yes                                    84
           17149081         Yes                                   120
           17149082         Yes                                   120
           17149083         Yes                                    84
           17149084         Yes                                   120
           17149086         Yes                                   120
           17149087         Yes                                    84
           17149088         No                                      0
           17149089         Yes                                   120
           17149090         No                                      0
           17149091         No                                      0
           17120401         Yes                                   120
           17120402         Yes                                   120
           17120403         Yes                                   120
           17120404         Yes                                   120
           17120405         Yes                                   120
           17120406         Yes                                   120
           17120407         Yes                                   120
           17120408         Yes                                   120
           17120409         Yes                                   120
           17149092         Yes                                   120
           17149093         Yes                                   120
           17149094         Yes                                   120
           17149095         Yes                                   120
           17149096         Yes                                   120
           17149097         Yes                                   120
           17149098         Yes                                   120
           17149099         Yes                                   120
           17120498         Yes                                   120
           17120455         Yes                                   120
           17120477         No                                      0
           17120490         Yes                                   120
           17120532         Yes                                   120
           17120544         Yes                                   120
           17120540         Yes                                   120
           17120541         Yes                                   120
           17120542         Yes                                   120
           17120543         Yes                                   120
           17120545         Yes                                   120
           17120546         Yes                                   120
           17120547         Yes                                   120
           17120548         Yes                                   120
           17120549         Yes                                   120
           17120550         Yes                                   120
           17120551         Yes                                   120
           17120552         Yes                                   120
           17120553         Yes                                   120
           17120554         No                                      0
           17120555         Yes                                   120
           17120556         Yes                                   120
           17120557         Yes                                   120
           17120558         Yes                                   120
           17120559         Yes                                   120
           17120560         Yes                                   120
           17120561         Yes                                   120
           17120562         Yes                                   120
           17120563         Yes                                   120
           17120564         Yes                                   120
           17120565         Yes                                   120
           17120566         Yes                                   120
           17120567         Yes                                   120
           17120568         Yes                                   120
           17120569         Yes                                   120
           17120570         Yes                                   120
           17120571         Yes                                   120
           17120572         Yes                                   120
           17120573         Yes                                   120
           17120574         Yes                                   120
           17120575         Yes                                   120
           17120576         Yes                                   120
           17120526         Yes                                   120
           17120527         Yes                                   120
           17120528         Yes                                   120
           17120529         No                                      0
           17120530         Yes                                   120
           17120531         Yes                                   120
           17120533         Yes                                   120
           17120534         Yes                                   120
           17120535         Yes                                   120
           17120536         No                                      0
           17120537         Yes                                   120
           17120538         Yes                                   120
           17120539         Yes                                   120
           17120510         Yes                                   120
           17120511         Yes                                   120
           17120512         No                                      0
           17120513         No                                      0
           17120514         Yes                                   120
           17120515         Yes                                   120
           17120516         Yes                                   120
           17120517         Yes                                   120
           17120518         Yes                                   120
           17120519         Yes                                   120
           17120520         Yes                                   120
           17120521         Yes                                   120
           17120522         Yes                                   120
           17120523         Yes                                   120
           17120524         Yes                                   120
           17120525         No                                      0
           17120500         Yes                                   120
           17120501         Yes                                   120
           17120502         Yes                                   120
           17120503         Yes                                   120
           17120504         Yes                                   120
           17120505         Yes                                   120
           17120506         Yes                                   120
           17120507         Yes                                   120
           17120508         No                                      0
           17120509         Yes                                   120
           17149110         Yes                                   120
           17149111         Yes                                   120
           17149112         Yes                                   120
           17149113         Yes                                   120
           17149103         Yes                                   120
           17149105         No                                      0
           17149106         Yes                                   120
           17149107         No                                      0
           17149108         Yes                                   120
           17149109         Yes                                   120
           17120450         Yes                                   120
           17120451         Yes                                   120
           17120452         Yes                                   120
           17120453         Yes                                   120
           17120454         Yes                                   120
           17120456         Yes                                   120
           17120457         Yes                                   120
           17120458         Yes                                   120
           17120459         Yes                                   120
           17120460         Yes                                   120
           17120461         Yes                                   120
           17120462         No                                      0
           17120463         Yes                                   120
           17120464         Yes                                   120
           17120465         Yes                                   120
           17120466         No                                      0
           17120467         Yes                                   120
           17120468         Yes                                   120
           17120469         Yes                                   120
           17120470         Yes                                   120
           17120471         Yes                                   120
           17120472         Yes                                   120
           17120473         Yes                                   120
           17120474         Yes                                   120
           17120476         Yes                                   120
           17120478         Yes                                   120
           17120479         Yes                                   120
           17120480         Yes                                   120
           17120481         Yes                                   120
           17120482         Yes                                   120
           17120483         Yes                                   120
           17120484         Yes                                   120
           17120485         Yes                                   120
           17120486         Yes                                   120
           17120487         Yes                                   120
           17120488         Yes                                   120
           17120489         Yes                                   120
           17120491         Yes                                   120
           17120492         Yes                                   120
           17120493         Yes                                   120
           17120494         Yes                                   120
           17120495         Yes                                   120
           17120496         Yes                                   120
           17120499         No                                      0
           17120429         Yes                                   120
           17120430         Yes                                   120
           17120431         Yes                                   120
           17120432         Yes                                   120
           17120433         Yes                                   120
           17120434         Yes                                   120
           17120436         Yes                                   120
           17120437         Yes                                   120
           17120438         Yes                                   120
           17120440         Yes                                   120
           17120441         Yes                                   120
           17120442         Yes                                   120
           17120443         Yes                                   120
           17120444         Yes                                   120
           17120445         Yes                                   120
           17120446         Yes                                   120
           17120447         Yes                                   120
           17120448         Yes                                   120
           17120449         Yes                                   120
           17181086         Yes                                    60
           17171924         Yes                                   120
           17172078         Yes                                   120
           17175048         Yes                                   120
           17175049         Yes                                   120
           17171987         Yes                                    60
           17172020         Yes                                   120
           17203440         Yes                                   120
           17172004         Yes                                   120
           17172023         Yes                                   120
           17172005         Yes                                    60
           17203443         Yes                                   120
           17203445         Yes                                   120
           17203409         Yes                                   120
           17172044         Yes                                   120
           17203427         No                                      0
           17172008         Yes                                   120
           17181117         Yes                                   120
           17172064         Yes                                   120
           17203267         Yes                                   120
           17175071         Yes                                   120
           17172065         Yes                                   120
           17175054         Yes                                   120
           17172048         Yes                                   120
           17172049         No                                      0
           17171951         Yes                                    60
           17171995         Yes                                    60
           17203410         Yes                                   120
           17181120         Yes                                    60
           17172112         Yes                                   120
           17172014         Yes                                    60
           17203451         Yes                                   120
           17172051         Yes                                   120
           17203255         No                                      0
           17172053         No                                      0
           17203437         Yes                                   120
           17172036         Yes                                   120
           17172136         Yes                                    60
           17172073         Yes                                   120
           17172055         Yes                                   120
           17203294         Yes                                    60
           17203278         Yes                                    60
           17203359         Yes                                   120
           17172039         No                                      0
           17203396         Yes                                   120
           17203423         No                                      0
           17203388         No                                      0
           17203364         Yes                                   120
           17203354         Yes                                   120
           17203317         Yes                                   120
           17171965         Yes                                    60
           17203331         No                                      0
           17172132         Yes                                   120
           17172133         Yes                                   120
           17172127         Yes                                   120
           17172130         Yes                                   120
           17172104         Yes                                   120
           17172114         Yes                                   120
           17172125         Yes                                   120
           17172126         Yes                                   120
           17171998         Yes                                    60
           17172001         Yes                                   120
           17172002         Yes                                   120
           17172010         Yes                                   120
           17172022         Yes                                   120
           17172033         Yes                                   120
           17172041         Yes                                   120
           17172057         Yes                                   120
           17172061         Yes                                   120
           17172068         Yes                                   120
           17172074         Yes                                   120
           17172084         Yes                                   120
           17172086         Yes                                   120
           17171926         Yes                                    60
           17171946         Yes                                    60
           17171952         Yes                                    60
           17171957         Yes                                    60
           17171960         Yes                                    60
           17171979         Yes                                    60
           17171980         Yes                                    60
           17171983         Yes                                    60
           17171990         Yes                                    60
           17171992         Yes                                    60
           17171922         Yes                                    60
           17203303         Yes                                   120
           17203452         Yes                                   120
           17203340         Yes                                   120
           17203351         Yes                                   120
           17203283         Yes                                    60
           17203252         Yes                                   120
           17203412         Yes                                   120
           17203321         Yes                                   120
           17203385         Yes                                   120
           17203392         Yes                                   120
           17203401         Yes                                   120
           17203435         Yes                                   120
           17203383         Yes                                   120
           17203323         No                                      0
           17203449         No                                      0
           17203328         Yes                                   120
           17203339         Yes                                   120
           17203315         Yes                                   120
           17203257         Yes                                   120
           17203295         Yes                                   120
           17203290         Yes                                    60
           17203299         No                                      0
           17203424         Yes                                   120
           17203379         Yes                                   120
           17203256         No                                      0
           17203422         Yes                                   120
           17203253         Yes                                   120
           17203312         Yes                                    60
           17203293         Yes                                    60
           17203418         Yes                                   120
           17203314         Yes                                    60
           17203448         Yes                                   120
           17203384         Yes                                   120
           17203281         No                                      0
           17203348         Yes                                   120
           17203390         Yes                                   120
           17203310         Yes                                   120
           17203363         Yes                                   120
           17203425         Yes                                   120
           17203373         Yes                                   120
           17203266         Yes                                    60
           17203358         Yes                                   120
           17203429         Yes                                   120
           17203371         Yes                                   120
           17203337         Yes                                   120
           17203421         Yes                                   120
           17203430         Yes                                   120
           17203247         Yes                                   120
           17203320         Yes                                   120
           17203405         Yes                                   120
           17203270         Yes                                    60
           17203362         Yes                                   120
           17203361         Yes                                   120
           17203272         Yes                                    60
           17203350         Yes                                   120
           17203403         No                                      0
           17203301         Yes                                   120
           17203349         Yes                                   120
           17203338         Yes                                   120
           17203345         Yes                                   120
           17203307         Yes                                    60
           17203357         Yes                                   120
           17203442         Yes                                   120
           17203277         Yes                                   120
           17203280         Yes                                    60
           17203344         Yes                                   120
           17203381         Yes                                    60
           17203436         Yes                                   120
           17203333         Yes                                   120
           17203316         Yes                                   120
           17203305         Yes                                    60
           17203292         Yes                                    60
           17203419         Yes                                   120
           17203433         Yes                                   120
           17203438         Yes                                   120
           17203284         Yes                                   120
           17203275         Yes                                    60
           17203411         Yes                                   120
           17203324         Yes                                   120
           17203408         Yes                                   120
           17203300         Yes                                    60
           17203273         Yes                                    60
           17203446         Yes                                   120
           17203415         Yes                                   120
           17203389         Yes                                   120
           17203398         Yes                                   120
           17203274         Yes                                   120
           17203318         Yes                                    60
           17203391         Yes                                   120
           17203399         Yes                                   120
           17203450         No                                      0
           17203447         Yes                                   120
           17203453         Yes                                   120
           17203428         Yes                                   120
           17203313         No                                      0
           17203431         Yes                                   120
           17203417         Yes                                   120
           17203343         Yes                                   120
           17203360         Yes                                   120
           17203416         Yes                                   120
           17203406         Yes                                   120
           17203367         Yes                                   120
           17203380         Yes                                   120
           17203286         No                                      0
           17203330         Yes                                   120
           17203249         Yes                                   120
           17203342         Yes                                   120
           17203346         Yes                                   120
           17203264         Yes                                   120
           17203322         Yes                                   120
           17203397         Yes                                   120
           17203407         Yes                                   120
           17203336         Yes                                   120
           17203374         Yes                                   120
           17203329         No                                      0
           17203327         Yes                                   120
           17203369         Yes                                   120
           17203335         Yes                                   120
           17203291         No                                      0
           17203289         Yes                                    60
           17203372         Yes                                   120
           17203296         Yes                                    60
           17203254         No                                      0
           17203444         Yes                                   120
           17203365         Yes                                   120
           17203259         Yes                                   120
           17203366         Yes                                   120
           17203353         Yes                                   120
           17203285         Yes                                    60
           17203352         Yes                                   120
           17203306         Yes                                    60
           17203414         No                                      0
           17203393         Yes                                   120
           17203382         Yes                                   120
           17203302         Yes                                    60
           17203356         Yes                                   120
           17203387         Yes                                   120
           17203377         Yes                                    60
           17203308         Yes                                   120
           17203276         No                                      0
           17203288         No                                      0
           17203378         Yes                                   120
           17203376         Yes                                    60
           17203370         Yes                                   120
           17203248         No                                      0
           17203341         Yes                                   120
           17203334         Yes                                   120
           17203395         Yes                                   120
           17203332         Yes                                   120
           17203309         Yes                                   120
           17203375         Yes                                   120
           17203279         Yes                                    60
           17203386         Yes                                    60
           17203311         Yes                                    60
           17203420         Yes                                   120
           17203402         Yes                                   120
           17203439         Yes                                   120
           17203297         No                                      0
           17203282         Yes                                   120
           17203368         Yes                                   120
           17203394         Yes                                   120
           17203400         Yes                                   120
           17203355         Yes                                   120
           17203404         No                                      0
           17203426         No                                      0
           17203298         Yes                                    60
           17203304         Yes                                   120
           17203434         Yes                                   120
           17171962         Yes                                   120
           17171963         Yes                                    60
           17171966         Yes                                    60
           17171967         No                                      0
           17171968         Yes                                   120
           17171969         Yes                                    60
           17171970         Yes                                   120
           17171971         Yes                                   120
           17171973         Yes                                    60
           17171974         Yes                                    60
           17171978         No                                      0
           17171982         Yes                                    60
           17171985         Yes                                   120
           17171986         Yes                                    60
           17171988         Yes                                    60
           17171989         Yes                                    60
           17171991         Yes                                    60
           17171993         Yes                                    60
           17171996         Yes                                    60
           17171999         Yes                                    60
           17171950         Yes                                   120
           17171955         Yes                                   120
           17171916         Yes                                   120
           17171917         Yes                                   120
           17171918         Yes                                   120
           17171919         No                                      0
           17171920         Yes                                   120
           17171921         Yes                                   120
           17171923         Yes                                    60
           17171925         Yes                                    60
           17171927         Yes                                   120
           17171933         Yes                                   120
           17171935         Yes                                    60
           17171937         Yes                                   120
           17171939         Yes                                    60
           17171945         Yes                                   120
           17171949         Yes                                    60
           17175070         Yes                                   120
           17175072         Yes                                   120
           17175056         Yes                                   120
           17175057         Yes                                   120
           17175059         No                                      0
           17175060         No                                      0
           17175061         Yes                                   120
           17175062         Yes                                   120
           17175063         Yes                                   120
           17175064         Yes                                   120
           17175065         Yes                                   120
           17175066         Yes                                   120
           17175067         No                                      0
           17175068         Yes                                   120
           17175069         Yes                                   120
           17175031         Yes                                    60
           17175032         Yes                                    60
           17175034         No                                      0
           17175035         Yes                                    60
           17175036         Yes                                    60
           17175037         Yes                                    60
           17175040         No                                      0
           17175041         Yes                                    60
           17175042         Yes                                    60
           17175043         Yes                                   120
           17175045         Yes                                   120
           17175046         Yes                                   120
           17175047         Yes                                   120
           17175050         Yes                                   120
           17175051         Yes                                   120
           17175052         Yes                                   120
           17175053         Yes                                   120
           17175024         Yes                                   120
           17175025         Yes                                   120
           17175026         Yes                                   120
           17175027         Yes                                   120
           17175028         Yes                                   120
           17175029         Yes                                   120
           17172120         Yes                                   120
           17172121         Yes                                   120
           17172122         Yes                                   120
           17172123         No                                      0
           17172124         Yes                                   120
           17172128         Yes                                   120
           17172129         Yes                                   120
           17172131         Yes                                   120
           17172134         Yes                                   120
           17172135         Yes                                   120
           17172137         Yes                                   120
           17172138         Yes                                   120
           17172139         Yes                                   120
           17172100         Yes                                   120
           17172101         No                                      0
           17172102         Yes                                   120
           17172103         Yes                                   120
           17172105         Yes                                   120
           17172106         Yes                                   120
           17172107         No                                      0
           17172108         No                                      0
           17172109         Yes                                   120
           17172110         Yes                                   120
           17172111         No                                      0
           17172113         Yes                                   120
           17172115         Yes                                   120
           17172116         Yes                                   120
           17172117         Yes                                   120
           17172119         Yes                                   120
           17181161         Yes                                   120
           17172090         Yes                                   120
           17181162         Yes                                    60
           17172091         Yes                                   120
           17172092         Yes                                   120
           17172093         Yes                                   120
           17172094         Yes                                   120
           17172095         Yes                                   120
           17172097         Yes                                   120
           17172098         Yes                                   120
           17172099         Yes                                   120
           17181150         Yes                                   120
           17181151         No                                      0
           17172080         Yes                                   120
           17181152         Yes                                   120
           17172081         Yes                                   120
           17181153         No                                      0
           17172082         Yes                                   120
           17181154         Yes                                   120
           17172083         No                                      0
           17172085         Yes                                   120
           17181158         Yes                                   120
           17172087         Yes                                   120
           17181159         Yes                                   120
           17172088         Yes                                   120
           17172089         Yes                                   120
           17172060         Yes                                   120
           17181132         No                                      0
           17181133         Yes                                    60
           17172062         Yes                                   120
           17181134         No                                      0
           17172063         Yes                                   120
           17181135         No                                      0
           17181136         Yes                                   120
           17172066         Yes                                   120
           17181138         Yes                                   120
           17172067         Yes                                   120
           17172069         Yes                                   120
           17181140         Yes                                   120
           17172070         Yes                                   120
           17172071         No                                      0
           17181143         Yes                                   120
           17172072         Yes                                   120
           17181145         Yes                                   120
           17181146         No                                      0
           17172075         Yes                                   120
           17181147         Yes                                   120
           17172076         No                                      0
           17181148         Yes                                   120
           17172077         Yes                                   120
           17172079         Yes                                   120
           17181130         Yes                                   120
           17181131         Yes                                   120
           17181121         No                                      0
           17172050         No                                      0
           17181122         Yes                                   120
           17181123         Yes                                   120
           17172052         Yes                                   120
           17181124         Yes                                   120
           17181125         Yes                                   120
           17172054         Yes                                   120
           17181126         Yes                                    60
           17172056         Yes                                    60
           17172059         Yes                                   120
           17172047         Yes                                   120
           17181119         Yes                                   120
           17172021         Yes                                   120
           17172024         No                                      0
           17172025         Yes                                   120
           17172026         No                                      0
           17172027         Yes                                   120
           17172028         Yes                                   120
           17172029         Yes                                   120
           17181100         Yes                                    60
           17181101         Yes                                   120
           17172030         Yes                                   120
           17181102         Yes                                    60
           17172031         Yes                                   120
           17172032         No                                      0
           17181104         Yes                                    60
           17181105         Yes                                   120
           17172034         Yes                                   120
           17181106         Yes                                   120
           17172035         Yes                                   120
           17181107         Yes                                   120
           17181108         Yes                                   120
           17172037         Yes                                   120
           17181109         Yes                                   120
           17172038         Yes                                   120
           17181110         Yes                                   120
           17181111         Yes                                   120
           17172040         Yes                                   120
           17181112         Yes                                   120
           17181113         Yes                                   120
           17172042         Yes                                   120
           17181114         Yes                                   120
           17172043         Yes                                   120
           17181115         No                                      0
           17181116         Yes                                   120
           17172045         Yes                                   120
           17172046         Yes                                   120
           17172017         No                                      0
           17172018         No                                      0
           17172019         Yes                                   120
           17172000         Yes                                   120
           17172006         Yes                                   120
           17172007         Yes                                   120
           17172009         Yes                                   120
           17172011         Yes                                   120
           17172013         Yes                                   120
           17172015         Yes                                   120
           17172016         Yes                                   120
           17181088         Yes                                    60
           17181090         Yes                                    60
           17181092         Yes                                   120
           17181093         Yes                                    60
           17181094         Yes                                   120
           17181095         Yes                                    60
           17181096         Yes                                    60
           17181097         Yes                                    60
           17181099         Yes                                    60
           17181082         Yes                                   120
           17181083         Yes                                   120
           17181084         Yes                                    60
           17181085         Yes                                    60
           17172140         Yes                                   120
           17172141         Yes                                   120
           17172142         Yes                                   120
           17175038         Yes                                    60
           17175039         Yes                                    60
           17175044         Yes                                   120
           17175073         Yes                                   120
           17181098         Yes                                    60
           17181103         Yes                                    60
           17181118         Yes                                   120
           17181128         Yes                                   120
           17181129         Yes                                    60
           17181137         Yes                                   120
           17181139         Yes                                   120
           17181144         No                                      0
           17181149         Yes                                   120
           17181155         Yes                                   120
           17181156         Yes                                   120
           17181157         Yes                                   120
           17181160         Yes                                   120
           17171928         Yes                                    60
           17171929         Yes                                    60
           17171930         Yes                                    60
           17171931         Yes                                   120
           17171932         No                                      0
           17171934         Yes                                    60
           17171936         Yes                                    60
           17171938         Yes                                    60
           17171940         Yes                                    60
           17171941         Yes                                    60
           17171942         Yes                                   120
           17171943         Yes                                    60
           17171944         Yes                                   120
           17171947         Yes                                    60
           17171948         Yes                                    60
           17171953         Yes                                   120
           17171954         Yes                                    60
           17171956         Yes                                    60
           17171958         Yes                                    60
           17171959         Yes                                    60
           17171961         Yes                                   120
           17171964         Yes                                   120
           17171975         Yes                                    60
           17171976         Yes                                    60
           17171977         Yes                                    60
           17171981         Yes                                   120
           17171984         Yes                                    60
           17171994         Yes                                   120
           17171997         Yes                                    60
           17172003         Yes                                   120
           17172058         Yes                                   120
           17175030         Yes                                    60
           17175033         Yes                                    60
           17175055         Yes                                   120
           17181087         Yes                                   120
           17181089         Yes                                    60
           17181091         Yes                                    60
           17181127         Yes                                    60
           17172118         Yes                                   120
           17181142         Yes                                   120

           LOAN_SEQ          ORIGINATOR                                            AMORT_TERM1
           17020574         COUNTRYWIDE                                                360
           17020737         COUNTRYWIDE                                                360
           17020575         COUNTRYWIDE                                                360
           17020498         COUNTRYWIDE                                                360
           17020499         COUNTRYWIDE                                                360
           17020820         COUNTRYWIDE                                                360
           17020821         COUNTRYWIDE                                                360
           17020660         COUNTRYWIDE                                                360
           17020822         COUNTRYWIDE                                                360
           17020661         COUNTRYWIDE                                                360
           17020823         COUNTRYWIDE                                                360
           17020662         COUNTRYWIDE                                                360
           17020824         COUNTRYWIDE                                                360
           17020663         COUNTRYWIDE                                                360
           17020825         COUNTRYWIDE                                                360
           17020664         COUNTRYWIDE                                                360
           17020826         COUNTRYWIDE                                                360
           17020665         COUNTRYWIDE                                                360
           17020827         COUNTRYWIDE                                                360
           17020828         COUNTRYWIDE                                                360
           17020667         COUNTRYWIDE                                                360
           17020829         COUNTRYWIDE                                                360
           17020668         COUNTRYWIDE                                                360
           17020669         COUNTRYWIDE                                                360
           17020830         COUNTRYWIDE                                                360
           17020831         COUNTRYWIDE                                                360
           17020670         COUNTRYWIDE                                                360
           17020832         COUNTRYWIDE                                                360
           17020833         COUNTRYWIDE                                                360
           17020671         COUNTRYWIDE                                                360
           17020834         COUNTRYWIDE                                                360
           17020672         COUNTRYWIDE                                                360
           17020835         COUNTRYWIDE                                                360
           17020673         COUNTRYWIDE                                                360
           17020836         COUNTRYWIDE                                                360
           17020674         COUNTRYWIDE                                                360
           17020837         COUNTRYWIDE                                                360
           17020675         COUNTRYWIDE                                                360
           17020838         COUNTRYWIDE                                                360
           17020676         COUNTRYWIDE                                                360
           17020839         COUNTRYWIDE                                                360
           17020677         COUNTRYWIDE                                                360
           17020678         COUNTRYWIDE                                                360
           17020679         COUNTRYWIDE                                                360
           17020840         COUNTRYWIDE                                                360
           17020841         COUNTRYWIDE                                                360
           17020842         COUNTRYWIDE                                                360
           17020680         COUNTRYWIDE                                                360
           17020843         COUNTRYWIDE                                                360
           17020681         COUNTRYWIDE                                                360
           17020844         COUNTRYWIDE                                                360
           17020682         COUNTRYWIDE                                                360
           17020845         COUNTRYWIDE                                                360
           17020683         COUNTRYWIDE                                                360
           17020846         COUNTRYWIDE                                                360
           17020684         COUNTRYWIDE                                                360
           17020685         COUNTRYWIDE                                                360
           17020848         COUNTRYWIDE                                                360
           17020686         COUNTRYWIDE                                                360
           17020849         COUNTRYWIDE                                                360
           17020687         COUNTRYWIDE                                                360
           17020688         COUNTRYWIDE                                                360
           17020689         COUNTRYWIDE                                                360
           17020850         COUNTRYWIDE                                                360
           17020657         COUNTRYWIDE                                                360
           17020495         COUNTRYWIDE                                                360
           17020819         COUNTRYWIDE                                                360
           17020658         COUNTRYWIDE                                                360
           17020496         COUNTRYWIDE                                                360
           17020659         COUNTRYWIDE                                                360
           17020497         COUNTRYWIDE                                                360
           17020492         COUNTRYWIDE                                                360
           17020816         COUNTRYWIDE                                                360
           17020655         COUNTRYWIDE                                                360
           17020493         COUNTRYWIDE                                                360
           17020817         COUNTRYWIDE                                                360
           17020656         COUNTRYWIDE                                                360
           17020494         COUNTRYWIDE                                                360
           17020812         COUNTRYWIDE                                                360
           17020651         COUNTRYWIDE                                                360
           17020813         COUNTRYWIDE                                                360
           17020814         COUNTRYWIDE                                                360
           17020652         COUNTRYWIDE                                                360
           17020490         COUNTRYWIDE                                                360
           17020491         COUNTRYWIDE                                                360
           17020815         COUNTRYWIDE                                                360
           17020654         COUNTRYWIDE                                                360
           17020500         COUNTRYWIDE                                                360
           17020501         COUNTRYWIDE                                                360
           17020502         COUNTRYWIDE                                                360
           17020503         COUNTRYWIDE                                                360
           17020504         COUNTRYWIDE                                                360
           17020505         COUNTRYWIDE                                                360
           17020506         COUNTRYWIDE                                                360
           17020507         COUNTRYWIDE                                                360
           17020508         COUNTRYWIDE                                                360
           17020509         COUNTRYWIDE                                                360
           17020510         COUNTRYWIDE                                                360
           17020511         COUNTRYWIDE                                                360
           17020512         COUNTRYWIDE                                                360
           17020513         COUNTRYWIDE                                                360
           17020514         COUNTRYWIDE                                                360
           17020515         COUNTRYWIDE                                                360
           17020516         COUNTRYWIDE                                                360
           17020517         COUNTRYWIDE                                                360
           17020518         COUNTRYWIDE                                                360
           17020519         COUNTRYWIDE                                                360
           17020520         COUNTRYWIDE                                                360
           17020521         COUNTRYWIDE                                                360
           17020522         COUNTRYWIDE                                                360
           17020523         COUNTRYWIDE                                                360
           17020524         COUNTRYWIDE                                                360
           17020525         COUNTRYWIDE                                                360
           17020526         COUNTRYWIDE                                                360
           17020527         COUNTRYWIDE                                                360
           17020528         COUNTRYWIDE                                                360
           17020529         COUNTRYWIDE                                                360
           17020530         COUNTRYWIDE                                                360
           17020531         COUNTRYWIDE                                                360
           17020532         COUNTRYWIDE                                                360
           17020533         COUNTRYWIDE                                                360
           17020534         COUNTRYWIDE                                                360
           17020535         COUNTRYWIDE                                                360
           17020536         COUNTRYWIDE                                                360
           17020537         COUNTRYWIDE                                                360
           17020538         COUNTRYWIDE                                                360
           17020539         COUNTRYWIDE                                                360
           17020700         COUNTRYWIDE                                                360
           17020701         COUNTRYWIDE                                                360
           17020702         COUNTRYWIDE                                                360
           17020540         COUNTRYWIDE                                                360
           17020703         COUNTRYWIDE                                                360
           17020541         COUNTRYWIDE                                                360
           17020704         COUNTRYWIDE                                                360
           17020542         COUNTRYWIDE                                                360
           17020705         COUNTRYWIDE                                                360
           17020543         COUNTRYWIDE                                                360
           17020706         COUNTRYWIDE                                                360
           17020544         COUNTRYWIDE                                                360
           17020707         COUNTRYWIDE                                                360
           17020545         COUNTRYWIDE                                                360
           17020708         COUNTRYWIDE                                                360
           17020546         COUNTRYWIDE                                                360
           17020547         COUNTRYWIDE                                                360
           17020385         COUNTRYWIDE                                                360
           17020548         COUNTRYWIDE                                                360
           17020386         COUNTRYWIDE                                                360
           17020549         COUNTRYWIDE                                                360
           17020387         COUNTRYWIDE                                                360
           17020388         COUNTRYWIDE                                                360
           17020389         COUNTRYWIDE                                                360
           17020710         COUNTRYWIDE                                                360
           17020711         COUNTRYWIDE                                                360
           17020550         COUNTRYWIDE                                                360
           17020712         COUNTRYWIDE                                                360
           17020551         COUNTRYWIDE                                                360
           17020713         COUNTRYWIDE                                                360
           17020714         COUNTRYWIDE                                                360
           17020552         COUNTRYWIDE                                                360
           17020715         COUNTRYWIDE                                                360
           17020553         COUNTRYWIDE                                                360
           17020391         COUNTRYWIDE                                                360
           17020392         COUNTRYWIDE                                                360
           17020554         COUNTRYWIDE                                                360
           17020716         COUNTRYWIDE                                                360
           17020717         COUNTRYWIDE                                                360
           17020555         COUNTRYWIDE                                                360
           17020393         COUNTRYWIDE                                                360
           17020718         COUNTRYWIDE                                                360
           17020556         COUNTRYWIDE                                                360
           17020394         COUNTRYWIDE                                                360
           17020395         COUNTRYWIDE                                                360
           17020557         COUNTRYWIDE                                                360
           17020719         COUNTRYWIDE                                                360
           17020558         COUNTRYWIDE                                                360
           17020397         COUNTRYWIDE                                                360
           17020559         COUNTRYWIDE                                                360
           17020398         COUNTRYWIDE                                                360
           17020399         COUNTRYWIDE                                                360
           17020720         COUNTRYWIDE                                                360
           17020721         COUNTRYWIDE                                                360
           17020722         COUNTRYWIDE                                                360
           17020560         COUNTRYWIDE                                                360
           17020723         COUNTRYWIDE                                                360
           17020561         COUNTRYWIDE                                                360
           17020724         COUNTRYWIDE                                                360
           17020562         COUNTRYWIDE                                                360
           17020725         COUNTRYWIDE                                                360
           17020563         COUNTRYWIDE                                                360
           17020726         COUNTRYWIDE                                                360
           17020564         COUNTRYWIDE                                                360
           17020727         COUNTRYWIDE                                                360
           17020565         COUNTRYWIDE                                                360
           17020728         COUNTRYWIDE                                                360
           17020566         COUNTRYWIDE                                                360
           17020729         COUNTRYWIDE                                                360
           17020567         COUNTRYWIDE                                                360
           17020568         COUNTRYWIDE                                                360
           17020569         COUNTRYWIDE                                                360
           17020730         COUNTRYWIDE                                                360
           17020731         COUNTRYWIDE                                                360
           17020732         COUNTRYWIDE                                                360
           17020570         COUNTRYWIDE                                                360
           17020733         COUNTRYWIDE                                                360
           17020571         COUNTRYWIDE                                                360
           17020734         COUNTRYWIDE                                                360
           17020572         COUNTRYWIDE                                                360
           17020735         COUNTRYWIDE                                                360
           17020573         COUNTRYWIDE                                                360
           17020736         COUNTRYWIDE                                                360
           17020487         COUNTRYWIDE                                                360
           17020488         COUNTRYWIDE                                                360
           17020489         COUNTRYWIDE                                                360
           17020810         COUNTRYWIDE                                                360
           17020811         COUNTRYWIDE                                                360
           17020650         COUNTRYWIDE                                                360
           17020791         COUNTRYWIDE                                                360
           17020792         COUNTRYWIDE                                                360
           17020793         COUNTRYWIDE                                                360
           17020794         COUNTRYWIDE                                                360
           17020795         COUNTRYWIDE                                                360
           17020796         COUNTRYWIDE                                                360
           17020797         COUNTRYWIDE                                                360
           17020798         COUNTRYWIDE                                                360
           17020799         COUNTRYWIDE                                                360
           17020790         COUNTRYWIDE                                                360
           17020646         COUNTRYWIDE                                                360
           17020484         COUNTRYWIDE                                                360
           17020808         COUNTRYWIDE                                                360
           17020647         COUNTRYWIDE                                                360
           17020485         COUNTRYWIDE                                                360
           17020809         COUNTRYWIDE                                                360
           17020648         COUNTRYWIDE                                                360
           17020486         COUNTRYWIDE                                                360
           17020649         COUNTRYWIDE                                                360
           17020781         COUNTRYWIDE                                                360
           17020782         COUNTRYWIDE                                                360
           17020783         COUNTRYWIDE                                                360
           17020784         COUNTRYWIDE                                                360
           17020785         COUNTRYWIDE                                                360
           17020786         COUNTRYWIDE                                                360
           17020787         COUNTRYWIDE                                                360
           17020788         COUNTRYWIDE                                                360
           17020789         COUNTRYWIDE                                                360
           17020612         COUNTRYWIDE                                                360
           17020450         COUNTRYWIDE                                                360
           17020613         COUNTRYWIDE                                                360
           17020451         COUNTRYWIDE                                                360
           17020614         COUNTRYWIDE                                                360
           17020452         COUNTRYWIDE                                                360
           17020615         COUNTRYWIDE                                                360
           17020453         COUNTRYWIDE                                                360
           17020616         COUNTRYWIDE                                                360
           17020454         COUNTRYWIDE                                                360
           17020617         COUNTRYWIDE                                                360
           17020455         COUNTRYWIDE                                                360
           17020456         COUNTRYWIDE                                                360
           17020618         COUNTRYWIDE                                                360
           17020619         COUNTRYWIDE                                                360
           17020457         COUNTRYWIDE                                                360
           17020458         COUNTRYWIDE                                                360
           17020459         COUNTRYWIDE                                                360
           17020620         COUNTRYWIDE                                                360
           17020621         COUNTRYWIDE                                                360
           17020622         COUNTRYWIDE                                                360
           17020460         COUNTRYWIDE                                                360
           17020623         COUNTRYWIDE                                                360
           17020461         COUNTRYWIDE                                                360
           17020624         COUNTRYWIDE                                                360
           17020462         COUNTRYWIDE                                                360
           17020625         COUNTRYWIDE                                                360
           17020463         COUNTRYWIDE                                                360
           17020626         COUNTRYWIDE                                                360
           17020464         COUNTRYWIDE                                                360
           17020627         COUNTRYWIDE                                                360
           17020465         COUNTRYWIDE                                                360
           17020628         COUNTRYWIDE                                                360
           17020466         COUNTRYWIDE                                                360
           17020629         COUNTRYWIDE                                                360
           17020467         COUNTRYWIDE                                                360
           17020468         COUNTRYWIDE                                                360
           17020469         COUNTRYWIDE                                                360
           17020630         COUNTRYWIDE                                                360
           17020631         COUNTRYWIDE                                                360
           17020632         COUNTRYWIDE                                                360
           17020470         COUNTRYWIDE                                                360
           17020633         COUNTRYWIDE                                                360
           17020471         COUNTRYWIDE                                                360
           17020634         COUNTRYWIDE                                                360
           17020472         COUNTRYWIDE                                                360
           17020635         COUNTRYWIDE                                                360
           17020473         COUNTRYWIDE                                                360
           17020636         COUNTRYWIDE                                                360
           17020474         COUNTRYWIDE                                                360
           17020637         COUNTRYWIDE                                                360
           17020475         COUNTRYWIDE                                                360
           17020638         COUNTRYWIDE                                                360
           17020476         COUNTRYWIDE                                                360
           17020477         COUNTRYWIDE                                                360
           17020478         COUNTRYWIDE                                                360
           17020479         COUNTRYWIDE                                                360
           17020800         COUNTRYWIDE                                                360
           17020801         COUNTRYWIDE                                                360
           17020640         COUNTRYWIDE                                                360
           17020802         COUNTRYWIDE                                                360
           17020641         COUNTRYWIDE                                                360
           17020803         COUNTRYWIDE                                                360
           17020642         COUNTRYWIDE                                                360
           17020480         COUNTRYWIDE                                                360
           17020804         COUNTRYWIDE                                                360
           17020643         COUNTRYWIDE                                                360
           17020481         COUNTRYWIDE                                                360
           17020805         COUNTRYWIDE                                                360
           17020644         COUNTRYWIDE                                                360
           17020482         COUNTRYWIDE                                                360
           17020806         COUNTRYWIDE                                                360
           17020645         COUNTRYWIDE                                                360
           17020483         COUNTRYWIDE                                                360
           17020807         COUNTRYWIDE                                                360
           17020436         COUNTRYWIDE                                                360
           17020437         COUNTRYWIDE                                                360
           17020438         COUNTRYWIDE                                                360
           17020439         COUNTRYWIDE                                                360
           17020600         COUNTRYWIDE                                                360
           17020601         COUNTRYWIDE                                                360
           17020602         COUNTRYWIDE                                                360
           17020440         COUNTRYWIDE                                                360
           17020603         COUNTRYWIDE                                                360
           17020441         COUNTRYWIDE                                                360
           17020604         COUNTRYWIDE                                                360
           17020442         COUNTRYWIDE                                                360
           17020605         COUNTRYWIDE                                                360
           17020606         COUNTRYWIDE                                                360
           17020444         COUNTRYWIDE                                                360
           17020607         COUNTRYWIDE                                                360
           17020445         COUNTRYWIDE                                                360
           17020608         COUNTRYWIDE                                                360
           17020446         COUNTRYWIDE                                                360
           17020609         COUNTRYWIDE                                                360
           17020447         COUNTRYWIDE                                                360
           17020448         COUNTRYWIDE                                                360
           17020449         COUNTRYWIDE                                                360
           17020610         COUNTRYWIDE                                                360
           17020611         COUNTRYWIDE                                                360
           17020771         COUNTRYWIDE                                                360
           17020772         COUNTRYWIDE                                                360
           17020773         COUNTRYWIDE                                                360
           17020774         COUNTRYWIDE                                                360
           17020775         COUNTRYWIDE                                                360
           17020777         COUNTRYWIDE                                                360
           17020778         COUNTRYWIDE                                                360
           17020779         COUNTRYWIDE                                                360
           17020780         COUNTRYWIDE                                                360
           17020400         COUNTRYWIDE                                                360
           17020401         COUNTRYWIDE                                                360
           17020402         COUNTRYWIDE                                                360
           17020403         COUNTRYWIDE                                                360
           17020404         COUNTRYWIDE                                                360
           17020405         COUNTRYWIDE                                                360
           17020406         COUNTRYWIDE                                                360
           17020407         COUNTRYWIDE                                                360
           17020408         COUNTRYWIDE                                                360
           17020409         COUNTRYWIDE                                                360
           17020410         COUNTRYWIDE                                                360
           17020411         COUNTRYWIDE                                                360
           17020412         COUNTRYWIDE                                                360
           17020413         COUNTRYWIDE                                                360
           17020415         COUNTRYWIDE                                                360
           17020416         COUNTRYWIDE                                                360
           17020417         COUNTRYWIDE                                                360
           17020418         COUNTRYWIDE                                                360
           17020419         COUNTRYWIDE                                                360
           17020420         COUNTRYWIDE                                                360
           17020421         COUNTRYWIDE                                                360
           17020422         COUNTRYWIDE                                                360
           17020423         COUNTRYWIDE                                                360
           17020424         COUNTRYWIDE                                                360
           17020425         COUNTRYWIDE                                                360
           17020427         COUNTRYWIDE                                                360
           17020428         COUNTRYWIDE                                                360
           17020429         COUNTRYWIDE                                                360
           17020430         COUNTRYWIDE                                                360
           17020431         COUNTRYWIDE                                                360
           17020432         COUNTRYWIDE                                                360
           17020433         COUNTRYWIDE                                                360
           17020434         COUNTRYWIDE                                                360
           17020761         COUNTRYWIDE                                                360
           17020762         COUNTRYWIDE                                                360
           17020763         COUNTRYWIDE                                                360
           17020764         COUNTRYWIDE                                                360
           17020765         COUNTRYWIDE                                                360
           17020766         COUNTRYWIDE                                                360
           17020767         COUNTRYWIDE                                                360
           17020768         COUNTRYWIDE                                                360
           17020769         COUNTRYWIDE                                                360
           17020770         COUNTRYWIDE                                                360
           17020851         COUNTRYWIDE                                                360
           17020852         COUNTRYWIDE                                                360
           17020690         COUNTRYWIDE                                                360
           17020853         COUNTRYWIDE                                                360
           17020691         COUNTRYWIDE                                                360
           17020854         COUNTRYWIDE                                                360
           17020692         COUNTRYWIDE                                                360
           17020855         COUNTRYWIDE                                                360
           17020693         COUNTRYWIDE                                                360
           17020856         COUNTRYWIDE                                                360
           17020694         COUNTRYWIDE                                                360
           17020857         COUNTRYWIDE                                                360
           17020695         COUNTRYWIDE                                                360
           17020858         COUNTRYWIDE                                                360
           17020696         COUNTRYWIDE                                                360
           17020859         COUNTRYWIDE                                                360
           17020697         COUNTRYWIDE                                                360
           17020698         COUNTRYWIDE                                                360
           17020699         COUNTRYWIDE                                                360
           17020860         COUNTRYWIDE                                                360
           17020861         COUNTRYWIDE                                                360
           17020862         COUNTRYWIDE                                                360
           17020740         COUNTRYWIDE                                                360
           17020741         COUNTRYWIDE                                                360
           17020742         COUNTRYWIDE                                                360
           17020580         COUNTRYWIDE                                                360
           17020743         COUNTRYWIDE                                                360
           17020581         COUNTRYWIDE                                                360
           17020744         COUNTRYWIDE                                                360
           17020582         COUNTRYWIDE                                                360
           17020745         COUNTRYWIDE                                                360
           17020583         COUNTRYWIDE                                                360
           17020746         COUNTRYWIDE                                                360
           17020584         COUNTRYWIDE                                                360
           17020747         COUNTRYWIDE                                                360
           17020585         COUNTRYWIDE                                                360
           17020748         COUNTRYWIDE                                                360
           17020586         COUNTRYWIDE                                                360
           17020749         COUNTRYWIDE                                                360
           17020587         COUNTRYWIDE                                                360
           17020588         COUNTRYWIDE                                                300
           17020589         COUNTRYWIDE                                                360
           17020750         COUNTRYWIDE                                                360
           17020751         COUNTRYWIDE                                                360
           17020590         COUNTRYWIDE                                                360
           17020752         COUNTRYWIDE                                                360
           17020591         COUNTRYWIDE                                                360
           17020753         COUNTRYWIDE                                                360
           17020592         COUNTRYWIDE                                                360
           17020754         COUNTRYWIDE                                                360
           17020593         COUNTRYWIDE                                                360
           17020755         COUNTRYWIDE                                                360
           17020594         COUNTRYWIDE                                                360
           17020756         COUNTRYWIDE                                                360
           17020595         COUNTRYWIDE                                                360
           17020757         COUNTRYWIDE                                                360
           17020596         COUNTRYWIDE                                                360
           17020758         COUNTRYWIDE                                                360
           17020597         COUNTRYWIDE                                                360
           17020759         COUNTRYWIDE                                                360
           17020598         COUNTRYWIDE                                                360
           17020599         COUNTRYWIDE                                                360
           17020760         COUNTRYWIDE                                                360
           17020738         COUNTRYWIDE                                                360
           17020576         COUNTRYWIDE                                                360
           17020739         COUNTRYWIDE                                                360
           17020577         COUNTRYWIDE                                                360
           17020578         COUNTRYWIDE                                                360
           17020390         COUNTRYWIDE                                                360
           17149253         COUNTRYWIDE                                                360
           17129133         COUNTRYWIDE                                                360
           17120372         COUNTRYWIDE                                                360
           17120377         COUNTRYWIDE                                                360
           17120399         COUNTRYWIDE                                                360
           17129138         COUNTRYWIDE                                                360
           17120386         COUNTRYWIDE                                                360
           17120389         COUNTRYWIDE                                                360
           17120412         COUNTRYWIDE                                                360
           17120421         COUNTRYWIDE                                                480
           17120390         COUNTRYWIDE                                                360
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EXHIBIT C
 
[RESERVED]
 


EXHIBIT D
REQUEST FOR RELEASE OF DOCUMENTS - TREASURY BANK
 
To:
Treasury Bank, A Division of Countrywide Bank, FSB
4100 E. Los Angeles Avenue
Simi Valley, California 93063
Facsimile: (805) 577-6069

RE:
Custodial Agreement, dated as of
April 30, 2007, among SAMI II,
EMC Mortgage Corporation, as Seller and Master Servicer
Treasury Bank, A Division of Countrywide Bank, FSB., as custodian,
and Wells Fargo Bank, N.A., as Trustee
 
In connection with the administration of the Mortgage Loans held by you pursuant to the above-captioned Custodial Agreement, we request the release, and hereby acknowledge receipt, of the Mortgage File for the Mortgage Loan described below, for the reason indicated.
 
Mortgage Loan Number:
 
Mortgagor Name, Address & Zip Code:
 
Reason for Requesting Documents (check one):
 
_____
1.
Mortgage Paid in Full and proceeds have been deposited into the Custodial Account
_____
2.
Foreclosure
_____
3.
Substitution
_____
4.
Other Liquidation
_____
5.
Nonliquidation  Reason: ______________________
_____
6.
California Mortgage Loan paid in full

 
             
By:
 
               
(authorized signer)
                 
                 
           
Issuer:
 
           
Address:
 
           
Date:
 
 


EXHIBIT E-1

FORM OF TRANSFEREE AFFIDAVIT AND AGREEMENT
PURSUANT TO SECTION 860E(e)4
 
 
Affidavit pursuant to
Section 860E(e)(4) of
the Internal Revenue
Code of 1986, as
amended, and for other purposes
 
STATE OF NEW YORK  )
  ) ss:
COUNTY OF NEW YORK  )
 
The undersigned is the [Title of Officer] of [_________] (the “Investor”), the proposed transferee of an ownership interest in the Bear Stearns Arm Trust Mortgage Pass-Through Certificates, Series 2007-3, Class [R-I][ R-II][R-III] Certificates (the “Certificates”) issued pursuant to the Pooling and Servicing Agreement, dated as of April 1, 2007 (the “Agreement”), among Structured Asset Mortgage Investments II Inc. as depositor (the “Depositor”), EMC Mortgage Corporation, as seller and as master servicer, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), and makes this affidavit on behalf of the Investor for the benefit of the Depositor and the Trustee. Capitalized terms used, but not defined herein, shall have the meanings ascribed to such terms in the Agreement. 
 
1.  The Investor is, as of the date hereof, and will be, as of the date of the Transfer, a Permitted Transferee. The Investor is not acquiring its ownership interest in the Certificates for the account of a Person other than a Permitted Transferee.
 
2.  The Investor has been advised and understands that (i) a tax will be imposed on transfers of the Certificates to Persons that are not Permitted Transferees; (ii) such tax will be imposed on the transferor, or, if such transfer is through an agent (which includes a broker, nominee or middleman) for a Person that is not a Permitted Transferee, on the agent; and (iii) the Person otherwise liable for the tax shall be relieved of liability for the tax if a subsequent transferee furnishes to such Person an affidavit that such subsequent transferee is a Permitted Transferee, and at the time of transfer, such Person does not have actual knowledge that the affidavit is false.
 
3.  The Investor has been advised and understands that a tax will be imposed on a “pass-through entity” holding the Certificates if at any time during the taxable year of the pass-through entity a Person that is not a Permitted Transferee is the record holder of an interest in such entity. The Investor understands that such tax will not be imposed for any period with respect to which the record holder furnishes to the pass-through entity an affidavit that such record holder is a Permitted Transferee and the pass-through entity does not have actual knowledge that such affidavit is false. (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 and, except as may be provided in Treasury regulations, Persons holding interests in pass-through entities as a nominee for another Person.)
 
4.  The Investor has reviewed the provisions of Section 5.05 of the Agreement and understands the legal consequences of the acquisition of an ownership interest in the Certificates, including, without limitation, the restrictions on subsequent transfers and the provisions regarding voiding any prohibited transfers and mandatory sales. The Investor expressly agrees to be bound by, and to abide by, such provisions of the Agreement and the restrictions noted on the face of the Certificates. The Investor understands and agrees that any breach of any of the representations included herein shall render the transfer of the Certificates to the Investor contemplated hereby null and void. The Investor consents to any amendment of the Agreement that shall be deemed necessary by the Tax Matters Person, the Trustee or the Depositor (upon advice of nationally recognized counsel) to constitute a reasonable arrangement to ensure that the Certificates will not be owned directly or indirectly by a Person other than a Permitted Transferee.
 
5.  The Investor agrees not to transfer the Certificates, or cause the transfer of the Certificates by a Person for whom the Investor is acting as nominee, trustee or agent, in each case unless it has received an affidavit and agreement in substantially the same form as this affidavit and agreement containing these same representations and covenants from the subsequent transferee. In connection with any such transfer by the Investor, the Investor agrees to deliver to the Trustee and the Depositor an affidavit substantially in the form set forth as Exhibit P to the Agreement to the effect that the Investor has no actual knowledge that the Person to which the transfer is to be made is not a Permitted Transferee.
 
6.  The Investor has historically paid its debts as they have come due, intends to pay its debts as they come due in the future, and understands that the taxes associated with holder an ownership interest in the Certificates may exceed the cash flow with respect thereto in some or all periods and intends to pay such taxes as they become due. The Investor does not have the intention, and no purpose of the transfer of the Certificates to the Investor is, to impede the assessment or collection of any tax legally required to be paid with respect to the Certificates.
 
7.  The Investor’s U.S. taxpayer identification number is #[__________].
 
8.  The Investor is a “United States person” within the meaning of Section 7701(a)(30) of the Code (a “United State Person”).
 
9.  The Investor is aware that the Certificates may be a “noneconomic residual interest” within the meaning of Treasury regulations promulgated under Section 860E of 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.
 
10.  The Investor will not cause income from the Certificates to be attributable to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the Investor or any other United States Person.
 
11.      Check one of the following:
o The transfer of the Certificates complies with U.S. Treasury Regulation Sections 1.860E-1(c)(7) and (8) and, accordingly:
 
  (i)    the present value of the anticipated tax liabilities associated with holding the Certificates does not exceed the sum of:
 
(a)            
the present value of any consideration given to the Investor to acquire such Certificates;
 
(b)            
the present value of the expected future distributions on such Certificates; and
 
(c)            
the present value of the anticipated tax savings associated with holding such Certificates as the related REMIC generates losses; and
 
  (ii)     the transfer of the Certificates will not result in such Certificates being held, directly or indirectly, by a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the Investor or any other United States Person.
 
  For purposes of the calculation in clause (i) above, (x) the Investor is assumed to pay tax at the highest rate currently specified in Section 11(b)(1) of the Code (but the tax rate in Section 55(b)(1)(B) of the Code may be used in lieu of the highest rate specified in Section 11(b)(1) of the Code if the Investor has been subject to the alternative minimum tax under Section 55 of the Code in the preceding two years and will compute its taxable income in the current taxable year using the alternative minimum tax rate) and (y) present values are computed using a discount rate equal to the short-term Federal rate prescribed by Section 1274(d) of the Code for the month of the transfer and the compounding period used by the Investor.
 
The transfer of the Certificates complies with U.S. Treasury Regulation Sections 1.860E-1(c)(5) and (6) and, accordingly:
 
 (i)          
the Investor is an “eligible corporation,” as defined in U.S. Treasury Regulation Section 1.860E-1(c)(6)(i), as to which income from the Certificates will only be taxed in the United States;
 
(ii)       
at the time of the transfer, and at the close of the Investor’s two fiscal years preceding the fiscal year of the transfer, the Investor had gross assets for financial reporting purposes (excluding any obligation of a “related person” to the Investor within the meaning of U.S. Treasury Regulation Section 1.860E-1(c)(6)(ii) and any other asset the principal purpose of which is to permit the Investor to satisfy the condition of this clause (ii)) in excess of $100 million and net assets in excess of $10 million;
 
 (iii)        
the Investor will transfer the Certificates only to another “eligible corporation,” as defined in U.S. Treasury Regulation Section 1.860E-1(c)(6)(i), in a transaction in which the requirements of U.S. Treasury Regulation Sections 1.860E-1(c)(4)(i), (ii) and (iii) and -1(c)(5) are satisfied and, accordingly, the subsequent transferee provides a similar affidavit with this box checked; and
 
(iv)       
the Investor determined the consideration paid to it to acquire the Certificates based on reasonable market assumptions (including, but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions, tax rates and other factors specific to the Investor) that it has determined in good faith and has concluded that such consideration, together with other assets of the Investor, will be sufficient to cover the taxes associated with the Certificates.
 
o None of the above.
 

 
IN WITNESS WHEREOF, the Investor has caused this instrument to be executed on its behalf, pursuant to the authority of its Board of Directors, by its managing director as of the ___ day of ___________, 2____.
 
[__________________________]

By:_________________________
Name:
Title:

[Address]

Address of Investor for
receipt of tax
information:
[_________]


Personally appeared before me the above-named ____________, known or proved to me to be the same person who executed the foregoing instrument and to be the Managing Director 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 Investor.
 
Subscribed and sworn before me this ___ day of ___________, 2____.
 

________________________
NOTARY PUBLIC

COUNTY OF NEW YORK
STATE OF NEW YORK

My commission expires the     day of   , ______.

[SEAL]
 



EXHIBIT E-2

 
EXHIBIT P
 
FORM OF TRANSFEROR CERTIFICATE
 
STATE OF NEW YORK
)
 
 
)
ss.:
COUNTY OF NEW YORK
)
 
 
The undersigned is the [Title of Officer] of [Name of Transferor] (the “Owner”), the proposed transferor of an ownership interest in the Bear Stearns Arm Trust Mortgage Pass-Through Certificates, Series 2007-1, Class [R-I][R-II][R-III] Certificates (the “Certificates”) issued pursuant to the Pooling and Servicing Agreement, dated as of February 1, 2007 (the “Agreement”), among Structured Asset Mortgage Investments II Inc., as depositor (the “Depositor”), EMC Mortgage Corporation, as seller and as master servicer, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), and makes this affidavit on behalf of the Investor for the benefit of the Depositor and the Trustee. Capitalized terms used, but not defined herein, shall have the meanings ascribed to such terms in the Agreement.
 
1.  The Owner is not transferring the Certificates to impede the assessment or collection of any tax.
 
2.  The Owner has no actual knowledge that the proposed transferee of the Certificates: (i) has insufficient assets to pay any taxes that would be owed by such transferee as Holder of the Certificates; (ii) may become insolvent or subject to a bankruptcy proceeding for so long as the Certificates remains outstanding; and (iii) is not a Permitted Transferee or a “United States person” within the meaning of Section 7701(a)(30) of the Code .
 
3.  The Owner understands that the proposed transferee has delivered to the Trustee and the Depositor a transfer affidavit and agreement in the form attached to the Agreement as Exhibit E. The Owner does not know or believe that any representation contained therein is false.
 
4.  At the time of transfer, the Owner has conducted a reasonable investigation of the financial condition of the proposed transferee as contemplated by Treasury Regulation Section 1.860E-1(c)(4)(i) and, as a result of that investigation, the Owner has determined that the proposed transferee has historically paid its debts as they became due and has found no significant evidence to indicate that the proposed transferee will not continue to pay its debts as they become due in the future. The Owner understands that the transfer of the Certificate may not be respected for U.S. federal income tax purposes (and the Owner may continue to be liable for U.S. federal income taxes associated therewith) unless the Owner has conducted such an investigation.
 
IN WITNESS WHEREOF, the Owner has caused this instrument to be executed on its behalf, pursuant to authority of its Board of Directors, by its [Title of Officer] this ____ day of _________, 20__.
 
           
[NAME OF OWNER]
                         
                         
           
By:
 
           
Name:
[Name of Officer]
           
Title:
[Title of Officer]
 
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/she executed the same as his/her free act and deed and the free act and deed of the Owner.
 
Subscribed and sworn before me this ___ day of _________, 20___.
 
NOTARY PUBLIC
 
COUNTY OF
 
STATE OF
 
My commission expires the ___ day of ___________________, 20___.



 
EXHIBIT F-1
 
FORM OF INVESTMENT LETTER
 
[Date]
[SELLER]
 
Wells Fargo Bank, N.A.
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479
 
Structured Asset Mortgage Investments II Inc.
383 Madison Avenue
New York, New York 10179
 
 
Re:
Structured Asset Mortgage Investments II Inc., Bear Stearns ARM Trust,
Series 2007-3 Mortgage Pass-Through Certificates (the “Certificates”),
including the Class B-5, Class B-6 and Class B-7 Certificates (the “Privately
Offered Certificates”)________________________________________________
 
Dear Ladies and Gentlemen:
 
In connection with our purchase of Privately Offered Certificates, we confirm that:
 
 
(i)
we understand that the Privately Offered Certificates are not being registered under the Securities Act of 1933, as amended (the “Act”) or any applicable state securities or “Blue Sky” laws, and are being sold to us in a transaction that is exempt from the registration requirements of such laws;
 
 
(ii)
any information we desired concerning the Certificates, including the Privately Offered Certificates, the trust in which the Certificates represent the entire beneficial ownership interest (the “Trust”) or any other matter we deemed relevant to our decision to purchase Privately Offered Certificates has been made available to us;
 
 
(iii)
we are able to bear the economic risk of investment in Privately Offered Certificates; we are an institutional “accredited investor” as defined in Section 501(a) of Regulation D promulgated under the Act and a sophisticated institutional investor;
 
 
(iv)
we are acquiring Privately Offered Certificates for our own account, not as nominee for any other person, and not with a present view to any distribution or other disposition of the Privately Offered Certificates;
 
 
(v)
we agree the Privately Offered Certificates must be held indefinitely by us (and may not be sold, pledged, hypothecated or in any way disposed of) unless subsequently registered under the Act and any applicable state securities or “Blue Sky” laws or an exemption from the registration requirements of the Act and any applicable state securities or “Blue Sky” laws is available;
 
 
(vi)
we agree that in the event that at some future time we wish to dispose of or exchange any of the Privately Offered Certificates (such disposition or exchange not being currently foreseen or contemplated), we will not transfer or exchange any of the Privately Offered Certificates unless:
 
(A) (1) the sale is to an Eligible Purchaser (as defined below), (2) if required by the Pooling and Servicing Agreement (as defined below) a letter to substantially the same effect as either this letter or, if the Eligible Purchaser is a Qualified Institutional Buyer as defined under Rule 144A of the Act, the Rule 144A and Related Matters Certificate in the form attached to the Pooling and Servicing Agreement (as defined below) (or such other documentation as may be acceptable to the Trustee) is executed promptly by the purchaser and delivered to the addressees hereof and (3) all offers or solicitations in connection with the sale, whether directly or through any agent acting on our behalf, are limited only to Eligible Purchasers and are not made by means of any form of general solicitation or general advertising whatsoever; and
 
(B) if the Privately Offered Certificate is not registered under the Act (as to which we acknowledge you have no obligation), the Privately Offered Certificate is sold in a transaction that does not require registration under the Act and any applicable state securities or “blue sky” laws and, if Wells Fargo Bank, N.A. (the “Trustee”) so requests, a satisfactory Opinion of Counsel is furnished to such effect, which Opinion of Counsel shall be an expense of the transferor or the transferee;
 
 
(vii)
we agree to be bound by all of the terms (including those relating to restrictions on transfer) of the Pooling and Servicing, pursuant to which the Trust was formed; we have reviewed carefully and understand the terms of the Pooling and Servicing Agreement;
 
 
(viii)
we either: (i) are not acquiring the Privately Offered Certificate directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as amended, or (ii) are providing a representation to the effect that the proposed transfer and holding of a Privately Offered Certificate and the servicing, management and operation of the Trust and its assets: (I) will not result in any prohibited transaction which is not covered under an individual or class prohibited transaction exemption, including, but not limited to, Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60, or PTCE 96-23 and (II) will not give rise to any additional obligations on the part of the Depositor, the Master Servicer or the Trustee or (iii) have attached hereto the opinion specified in Section 5.07 of the Agreement.
 
 
(ix)
We understand that each of the Privately Offered Certificates bears, and will continue to bear, a legend to substantiate the following effect: “THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS AND ONLY (1) PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”) TO A PERSON THAT THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A (A “QIB”), PURCHASING FOR ITS OWN ACCOUNT OR A QIB PURCHASING FOR THE ACCOUNT OF A QIB, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (2) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (3) IN CERTIFICATED FORM TO AN “INSTITUTIONAL ACCREDITED INVESTOR” WITHIN THE MEANING THEREOF IN RULE 501(a)(1), (2), (3) or (7) OF REGULATION D UNDER THE ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS COME WITHIN SUCH PARAGRAPHS PURCHASING NOT FOR DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, SUBJECT TO (A) THE RECEIPT BY THE TRUSTEE OF A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT BY THE TRUSTEE OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE TRUSTEE THAT SUCH REOFFER, RESALE, PLEDGE OR TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS OR IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE UNITED STATES AND ANY OTHER APPLICABLE JURISDICTION. THIS CERTIFICATE MAY NOT BE ACQUIRED DIRECTLY OR INDIRECTLY BY, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT WHICH IS SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, UNLESS THE PROPOSED TRANSFER AND HOLDING OF A CERTIFICATE AND THE SERVICING, MANAGEMENT AND OPERATION OF THE TRUST AND ITS ASSETS: (1) WILL NOT RESULT IN ANY PROHIBITED TRANSACTION WHICH IS NOT COVERED UNDER AN INDIVIDUAL OR CLASS PROHIBITED TRANSACTION EXEMPTION, INCLUDING, BUT NOT LIMITED TO, PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60 OR PTCE 96-23 AND (II) WILL NOT GIVE RISE TO ANY ADDITIONAL OBLIGATIONS ON THE PART OF THE DEPOSITOR, THE MASTER SERVICER OR THE TRUSTEE, WHICH WILL BE DEEMED REPRESENTED BY AN OWNER OF A BOOK-ENTRY CERTIFICATE OR A GLOBAL CERTIFICATE OR UNLESS THE OPINION PROVIDED IN SECTION 5.07 OF THE AGREEMENT IS PROVIDED.”
 
Eligible Purchaser” means a corporation, partnership or other entity which we have reasonable grounds to believe and do believe (i) can make representations with respect to itself to substantially the same effect as the representations set forth herein, and (ii) is either a Qualified Institutional Buyer as defined under Rule 144A of the Act or an institutional “Accredited Investor” as defined under Rule 501 of the Act.
 
Terms not otherwise defined herein shall have the meanings assigned to them in the Pooling and Servicing Agreement, dated as of April 1, 2007, among Structured Asset Mortgage Investments II Inc., EMC Mortgage Corporation as seller and master servicer and Wells Fargo Bank, N.A. as Trustee (the “Pooling and Servicing Agreement”).
 
If the Purchaser proposes that its Certificates be registered in the name of a nominee on its behalf, the Purchaser has identified such nominee below, and has caused such nominee to complete the Nominee Acknowledgment at the end of this letter.
 
Name of Nominee (if any): _________________________________
 
IN WITNESS WHEREOF, this document has been executed by the undersigned who is duly authorized to do so on behalf of the undersigned Eligible Purchaser on the ___ day of ________, 20___.
 
             
Very truly yours,
                           
             
[PURCHASER]
                           
                           
             
By:
 
               
(Authorized Officer)
             
[By:
 
               
Attorney-in-fact]
 
 


Nominee Acknowledgment
 
The undersigned hereby acknowledges and agrees that as to the Certificates being registered in its name, the sole beneficial owner thereof is and shall be the Purchaser identified above, for whom the undersigned is acting as nominee.
 
             
[NAME OF NOMINEE]
                           
                           
             
By:
 
               
(Authorized Officer)
             
[By:
 
               
Attorney-in-fact]
 


EXHIBIT F-2
 
FORM OF RULE 144A AND RELATED MATTERS CERTIFICATE
 
[SELLER][Date]
 
Wells Fargo Bank, N.A.
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479
 
Structured Asset Mortgage Investments II Inc.
383 Madison Avenue
New York, New York 10179
 
 
Re:
Structured Asset Mortgage Investments II Inc., Bear Stearns ARM Trust,
Series 2007-3 Mortgage Pass-Through Certificates, Class B-5, Class B-6 and
Class B-7 Certificates (the “Privately Offered Certificates”)__________________
 
Dear Ladies and Gentlemen:
 
In connection with our purchase of Privately Offered Certificates, the undersigned certifies to each of the parties to whom this letter is addressed that it is a qualified institutional buyer (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Act”)) as follows:
 
1.
It owned and/or invested on a discretionary basis eligible securities (excluding affiliate’s securities, bank deposit notes and CD’s, loan participations, repurchase agreements, securities owned but subject to a repurchase agreement and swaps), as described below:
 
Date: ______________, 20__ (must be on or after the close of its most recent fiscal year)
 
Amount: $ _____________________; and
 
2.
The dollar amount set forth above is:
 
 
a.
greater than $100 million and the undersigned is one of the following entities:
 
 
(x)
[ ]
an insurance company as defined in Section 2(13) of the Act1 ; or
       
 
(y)
[ ]
an investment company registered under the Investment Company Act or any business development company as defined in Section 2(a)(48) of the Investment Company Act of 1940; or
       
 
(z)
[ ]
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; or
       
 
(aa)
[ ]
a plan (i) established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, the laws of which permit the purchase of securities of this type, for the benefit of its employees and (ii) the governing investment guidelines of which permit the purchase of securities of this type; or
       
 
(bb)
[ ]
a business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940; or
       
 
(cc)
[ ]
a corporation (other than a U.S. bank, savings and loan association or equivalent foreign institution), partnership, Massachusetts or similar business trust, or an organization described in Section 501(c)(3) of the Internal Revenue Code; or
       
 
(dd)
[ ]
a U.S. bank, savings and loan association or equivalent foreign institution, which has an audited net worth of at least $25 million as demonstrated in its latest annual financial statements; or
       
 
(ee)
[ ]
an investment adviser registered under the Investment Advisers Act; or

b.
[ ]
greater than $10 million, and the undersigned is a broker-dealer registered with the SEC; or
     
c.
[ ]
less than $10 million, and the undersigned is a broker-dealer registered with the SEC and will only purchase Rule 144A securities in transactions in which it acts as a riskless principal (as defined in Rule 144A); or
     
d.
[ ]
less than $100 million, and the undersigned is an investment company registered under the Investment Company Act of 1940, which, together with one or more registered investment companies having the same or an affiliated investment adviser, owns at least $100 million of eligible securities; or
     
e.
[ ]
less than $100 million, and the undersigned is an entity, all the equity owners of which are qualified institutional buyers.
 
The undersigned further certifies that it is purchasing a Privately Offered Certificate for its own account or for the account of others that independently qualify as “Qualified Institutional Buyers” as defined in Rule 144A. It is aware that the sale of the Privately Offered Certificates is being made in reliance on its continued compliance with Rule 144A. It is aware that the transferor may rely on the exemption from the provisions of Section 5 of the Act provided by Rule 144A. The undersigned understands that the Privately Offered Certificates may be resold, pledged or transferred only to (i) 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 in Rule 144A, or (ii) an institutional “accredited investor,” as such term is defined under Rule 501 of the Act in a transaction that otherwise does not constitute a public offering.
 
The undersigned agrees that if at some future time it wishes to dispose of or exchange any of the Privately Offered Certificates, it will not transfer or exchange any of the Privately Offered Certificates to a Qualified Institutional Buyer without first obtaining a Rule 144A and Related Matters Certificate in the form hereof from the transferee and delivering such certificate to the addressees hereof. Prior to making any transfer of Privately Offered Certificates, if the proposed Transferee is an institutional “accredited investor,” the transferor shall obtain from the transferee and deliver to the addressees hereof an Investment Letter in the form attached to the Pooling and Servicing Agreement, dated as of April 1, 2007, among Structured Asset Mortgage Investments II Inc. as depositor (the “Depositor”), EMC Mortgage Corporation, as master servicer (the “Master Servicer”) and seller, and Wells Fargo Bank, N.A., as trustee (the “Trustee”), pursuant to Certificates were issued.
 
The undersigned certifies that it either: (i) is not acquiring the Privately Offered Certificate directly or indirectly by, or on behalf of, an employee benefit plan or other retirement arrangement which is subject to Title I of the Employee Retirement Income Security Act of 1974, as amended, or Section 4975 of the Internal Revenue Code of 1986, as amended, or (ii) is providing a representation or an opinion of counsel to the effect that the proposed transfer and holding of a Privately Offered Certificate and the servicing, management and operation of the Trust and its assets: (I) will not result in any prohibited transaction which is not covered under a prohibited transaction exemption, including, but not limited to, Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 91-38, PTCE 90-1, PTCE 95-60, PTCE 96-23 and (II) will not give rise to any additional obligations on the part of the Depositor, the Master Servicer or the Trustee or (iii) has attached hereto the opinion specified in Section 5.07 of the Agreement.
 
If the Purchaser proposes that its Certificates be registered in the name of a nominee on its behalf, the Purchaser has identified such nominee below, and has caused such nominee to complete the Nominee Acknowledgment at the end of this letter.
 
Name of Nominee (if any):
 
IN WITNESS WHEREOF, this document has been executed by the undersigned who is duly authorized to do so on behalf of the undersigned Eligible Purchaser on the ____ day of ___________, 20___.
 
             
Very truly yours,
                           
             
[PURCHASER]
                           
                           
             
By:
 
               
(Authorized Officer)
             
[By:
 
               
Attorney-in-fact]
 
NOMINEE ACKNOWLEDGMENT
 
The undersigned hereby acknowledges and agrees that as to the Certificates being registered in its name, the sole beneficial owner thereof is and shall be the Purchaser identified above, for whom the undersigned is acting as nominee.
 
             
[NAME OF NOMINEE]
                           
                           
             
By:
 
               
(Authorized Officer)
             
[By:
 
               
Attorney-in-fact]


1 A purchase by an insurance company for one or more of its separate accounts, as defined by Section 2(a)(37) of the Investment Company Act of 1940, which are neither registered nor required to be registered thereunder, shall be deemed to be a purchase for the account of such insurance company.
 
 

 
EXHIBIT G
 
FORM OF TREASURY BANK CUSTODIAL AGREEMENT
 
THIS CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the "Agreement”), dated as of April 30, 2007, by and among WELLS FARGO BANK, N.A., not individually but solely as trustee under the Pooling and Servicing Agreement defined below (including its successors under the Pooling and Servicing Agreement defined below, the “Trustee”), STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., as depositor (together with any successor in interest, the “Depositor”), EMC MORTGAGE CORPORATION, as seller (in such capacity, “EMC” or “Seller”) and master servicer (together with any successor in interest or successor under the Pooling and Servicing Agreement referred to below, the “Master Servicer”), and TREASURY BANK, A DIVISION OF COUNTRYWIDE BANK, FSB, as custodian (together with any successor in interest or any successor appointed hereunder, the "Custodian").
 
WITNESSETH THAT:
 
WHEREAS, the Depositor, EMC, the Master Servicer and the Trustee have entered into a Pooling and Servicing Agreement, dated as of April 1, 2007, relating to the issuance of Bear Stearns ARM Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3 (as in effect on the date of this agreement, the "Original Pooling and Servicing Agreement," and as amended and supplemented from time to time, the "Pooling and Servicing Agreement”); and
 
WHEREAS, the Custodian has agreed to act as agent for the Trustee for the purposes of receiving and holding certain documents and other instruments relating to the mortgage loans (herein referred to as the “Mortgage Loans”) listed on Schedule I hereto (the “Mortgage Loan Schedule”) delivered by (i) the Depositor or the Master Servicer under the Pooling and Servicing Agreement and (ii) the Servicer under the Servicing Agreement, all upon the terms and conditions and subject to the limitations hereinafter set forth;
 
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements hereinafter set forth, the Trustee, the Depositor, the Master Servicer and the Custodian hereby agree as follows:
 
ARTICLE I.
DEFINITIONS
 
Capitalized terms used in this Agreement and not defined herein shall have the meanings assigned in the Original Pooling and Servicing Agreement, unless otherwise required by the context herein.
 
ARTICLE II.
CUSTODY OF MORTGAGE DOCUMENTS
 
Section 2.1. Custodian to Act as Agent: Acceptance of Mortgage Files. The Custodian, as the duly appointed agent of the Trustee for these purposes, acknowledges (subject to any exceptions noted in the Initial Certification referred to in Section 2.3(a)) receipt of the Mortgage Files relating to the Mortgage Loans attached hereto (the "Mortgage Files") and declares that it holds and will hold such Mortgage Files as agent for the Trustee, in trust, for the use and benefit of all present and future Certificateholders.
 
Section 2.2. Recordation of Assignments. If any Mortgage File relating to the Mortgage Loans includes one or more assignments of Mortgage to the Trustee in a state which is specifically excluded from the Opinion of Counsel delivered by the Seller to the Trustee and the Custodian pursuant to the provisions of Section 2.01 of the Pooling and Servicing Agreement, each such assignment shall be delivered, at the direction of the Depositor (in written or electronic format), by the Custodian to the Depositor for the purpose of recording it in the appropriate public office for real property records, and the Depositor, at no expense to the Custodian, shall promptly cause to be recorded in the appropriate public office for real property records each such assignment of Mortgage and, upon receipt thereof from such public office, shall return each such assignment of Mortgage to the Custodian.
 
Section 2.3. Review of Mortgage Files.
 
(a) On or prior to the Closing Date, in accordance with Section 2.02 of the Pooling and Servicing Agreement, the Custodian shall deliver to the Depositor, EMC, the Master Servicer and the Trustee an Initial Certification in the form annexed hereto as Exhibit One evidencing receipt (subject to any exceptions noted therein) of a Mortgage File for each of the Mortgage Loans.
 
(b) Within 90 days of the Closing Date (or, with respect to any Substitute Mortgage Loans, within 5 Business Days after the receipt by the Trustee or the Custodian thereof), the Custodian agrees, for the benefit of Certificateholders, to review, in accordance with the provisions of Section 2.02 of the Pooling and Servicing Agreement, each such document relating to the Mortgage Loans, and shall execute and deliver to the Depositor, EMC, the Master Servicer and the Trustee an Interim Certification in the form annexed hereto as Exhibit Two to the effect that all such documents 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. The Custodian shall be under no duty or obligation to inspect, review or examine said documents, instruments, certificates or other papers to determine that the same are genuine, enforceable, or appropriate for the represented purpose or that they have actually been recorded or that they are other than what they purport to be on their face.
 
(c) Not later than 180 days after the Closing Date (or, with respect to any Substitute Mortgage Loans, within 5 Business Days after the receipt by the Trustee or the Custodian thereof), the Custodian shall review the Mortgage Files relating to the Mortgage Loans as provided in Section 2.02 of the Pooling and Servicing Agreement and execute and deliver to the Depositor, EMC, the Master Servicer and the Trustee a Final Certification in the form annexed hereto as Exhibit Three evidencing the completeness of such Mortgage Files.
 
(d) In reviewing the Mortgage Files relating to the Mortgage Loans as provided herein and in the Pooling and Servicing Agreement, the Custodian shall make no representation as to and shall not be responsible to verify (i) the validity, legality, enforceability, due authorization, recordability, sufficiency or genuineness of any of the documents included in any Mortgage File or (ii) the collectibility, insurability, effectiveness or suitability of any of the documents in any Mortgage File.
 
Upon receipt of written request from the Trustee, the Custodian shall as soon as practicable supply the requesting party with a list of all of the documents missing from the Mortgage Loans then contained in the Mortgage Files.
 
Section 2.4. Notification of Breaches of Representations and Warranties. Upon discovery by the Custodian of a breach of any representation or warranty made by the Depositor as set forth in the Pooling and Servicing Agreement with respect to a Mortgage Loan relating to a Mortgage File, the Custodian shall give prompt written notice to the Depositor, the Master Servicer, the applicable Servicer and the Trustee.
 
Section 2.5. Custodian to Cooperate: Release of Mortgage Files. Upon receipt of written notice from the Master Servicer or the Trustee that the Seller has repurchased a Mortgage Loan pursuant to Article II of the Pooling and Servicing Agreement, and that the Repurchase Price therefor has been deposited in the Distribution Account, and a Request for Release (as defined below), the Custodian agrees to promptly release to the Seller the related Mortgage File.
 
Upon the Custodian's receipt of a request for release (a "Request for Release") substantially in the form of Exhibit D-2 to the Pooling and Servicing Agreement signed by an officer of the Servicer involved in, or responsible for, the administration and servicing of the Mortgage Loans whose name appears on a list of servicing officers furnished by the Servicer upon request, as such list may from time to time be amended (each, a “Servicing Officer”) stating that it has received payment in full of a Mortgage Loan or that payment in full will be escrowed in a manner customary for such purposes, the Custodian agrees to promptly release to the Servicer the related Mortgage File. The Depositor shall deliver to the Custodian, and the Custodian agrees to accept, the Mortgage Note and other documents constituting the Mortgage File with respect to any Substitute Mortgage Loan, which documents the Custodian will review to the extent provided in Article II of the Pooling and Servicing Agreement.
 
From time to time as is appropriate for the servicing or foreclosure of any Mortgage Loan, including, for this purpose, collection under any Primary Mortgage Insurance Policy, the Servicer shall (or if the Servicer does not, then the Master Servicer may) deliver to the Custodian a Request for Release signed by a Servicing Officer requesting that possession of all of the related Mortgage File be released to the 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 related Mortgage Loan under any of the Insurance Policies. Upon receipt of the foregoing, the Custodian shall deliver such Mortgage File to the Servicer. All Mortgage Files so released to the Servicer shall be held by it in trust for the Trustee for the use and benefit of all present and future Certificateholders. The Servicer shall cause each Mortgage File or any document therein so released to be returned to the Custodian when the need therefor by the Servicer no longer exists, unless (i) such Mortgage Loan has been liquidated and the Liquidation Proceeds relating to the related Mortgage Loan have been deposited in the Distribution Account or (ii) such Mortgage File or such document has been delivered 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 related Mortgaged Property either judicially or non-judicially, and the Servicer has delivered to the Custodian 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.
 
At any time that a Servicer or the Master Servicer is required to deliver to the Custodian a Request for Release, the Servicer or the Master Servicer shall deliver two copies of the Request for Release if delivered in hard copy or the Servicer or the Master Servicer may furnish such Request for Release electronically to the Custodian, in which event the Servicing Officer transmitting the same shall be deemed to have signed such Request for Release. In connection with any Request for Release of a Mortgage File because of a repurchase of a Mortgage Loan, the assignment of mortgage and the related Mortgage Note shall be returned to the Servicer or the Master Servicer, as applicable, for execution and endorsement, respectively, pursuant to a power of attorney from the Trustee and for delivery to the Seller. If the Servicer or the Master Servicer does not have a power of attorney from the Trustee to execute the applicable assignment and to endorse the related Mortgage Note, such Request for Release shall be accompanied by an assignment of mortgage, without recourse, executed by the Trustee to the Seller and the related Mortgage Note shall be endorsed without recourse by the Trustee (if not in blank) and be returned to the Servicer or the Master Servicer, as applicable, for delivery to the Seller; provided, however, that in the case of a Mortgage Loan that is registered on the MERS® System, no assignment of mortgage or endorsement of the Mortgage Note by the Trustee, or by the Servicer or the Master Servicer pursuant to a power of attorney from the Trustee, shall be required. In connection with any Request for Release of a Mortgage File because of the payment in full of a Mortgage Loan and if the Servicer or the Master Servicer does not have a power of attorney from the Trustee to execute the applicable certificate of satisfaction or similar instrument, such Request for Release shall be accompanied by a certificate of satisfaction or other similar instrument to be executed by or on behalf of the Trustee and returned to the Servicer or the Master Servicer, as applicable.
 
Section 2.6. Assumption Agreements. In the event that any assumption agreement, substitution of liability agreement or sale of servicing agreement is entered into with respect to any Mortgage Loan subject to this Agreement in accordance with the terms and provisions of the Pooling and Servicing Agreement, the Master Servicer, to the extent provided in the Servicing Agreement, shall cause the Servicer to notify the Custodian that such assumption agreement, substitution of liability agreement or sale of servicing agreement has been completed by forwarding to the Custodian the original of such assumption agreement, substitution of liability agreement or sale of servicing agreement, which shall be added to the related Mortgage File and, for all purposes, shall be considered a part of such Mortgage File to the same extent as all other documents and instruments constituting parts thereof.
 
ARTICLE III.
CONCERNING THE CUSTODIAN
 
Section 3.1. Custodian as Bailee and Agent of the Trustee. With respect to each Mortgage Note and other documents constituting each Mortgage File relating to the Mortgage Loans which are delivered to the Custodian, the Custodian is exclusively the bailee and agent of the Trustee and has no instructions to hold any Mortgage Note or Mortgage File for the benefit of any person other than the Trustee and the Certificateholders and undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Except upon compliance with the provisions of Section 2.5 of this Agreement with respect to any Mortgage Loan, no Mortgage Note, Mortgage or Mortgage File shall be delivered by the Custodian to the Depositor, the Seller, any Servicer or the Master Servicer or otherwise released from the possession of the Custodian.
 
Section 3.2. [Reserved.]
 
Section 3.3. Custodian May Own Certificates. The Custodian 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 Custodian.
 
Section 3.4. Custodian's Fees and Expenses. The Depositor covenants and agrees to cause the Seller to pay the Custodian from time to time, and the Custodian shall be entitled to, reasonable compensation for all services rendered by it in the exercise and performance of any of the powers and duties hereunder of the Custodian pursuant to a letter agreement between the Custodian and the Seller. In addition, the Seller will pay or reimburse the Custodian upon its request for all reasonable expenses, disbursements and advances incurred or made by the Custodian 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), except any such expense, disbursement or advance as may arise from its negligence or bad faith, or to the extent that such cost or expense is indemnified by the Depositor pursuant to the Pooling and Servicing Agreement.
 
Section 3.5. Custodian May Resign; Trustee May Remove Custodian. The Custodian may resign from the obligations and duties hereby imposed upon it as such obligations and duties relate to its acting as Custodian of the Mortgage Loans. Upon receiving such notice of resignation, the Trustee shall either take custody of the Mortgage Files itself and give prompt notice thereof to the Depositor, the Master Servicer, the Servicers and the Custodian, or promptly appoint a successor Custodian by written instrument, in duplicate, one copy of which instrument shall be delivered to the resigning Custodian and one copy to the successor Custodian. If the Trustee shall not have taken custody of the Mortgage Files and no successor Custodian shall have been so appointed and have accepted appointment within 30 days after the giving of such notice of resignation, the resigning Custodian may petition any court of competent jurisdiction for the appointment of a successor Custodian.
 
The Trustee may remove the Custodian at any time with the consent of the Master Servicer. In such event, the Trustee shall appoint, or petition a court of competent jurisdiction to appoint, a successor Custodian hereunder. Any successor Custodian shall be a depository institution subject to supervision or examination by federal or state authority, shall be able to satisfy the other requirements contained in Section 3.7 and shall be unaffiliated with any Servicer or the Depositor.
 
Any resignation or removal of the Custodian and appointment of a successor Custodian pursuant to any of the provisions of this Section 3.5 shall become effective upon acceptance of appointment by the successor Custodian. The Trustee shall give prompt notice to the Depositor and the Master Servicer of the appointment of any successor Custodian. No successor Custodian shall be appointed by the Trustee without the prior approval of the Depositor and the Master Servicer.
 
Section 3.6. Merger or Consolidation of Custodian. Any Person into which the Custodian may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Custodian shall be a party, or any Person succeeding to the business of the Custodian, shall be the successor of the Custodian hereunder (provided such Person shall satisfy the requirements set forth in Section 3.7), 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.
 
Section 3.7. Representations of the Custodian. The Custodian hereby represents, and any successor Custodian hereunder shall represent, that it is a depository institution subject to supervision or examination by a federal or state authority, has a combined capital and surplus of at least $15,000,000 and is qualified to do business in the jurisdictions in which it will hold any Mortgage File.
 
Section 3.8. Duties and Obligations of the Custodian.
 
(a) The Custodian shall be under no duty or obligation to inspect, review or examine the Mortgage Files to determine that the contents thereof are appropriate for the represented purpose or that they have been actually recorded or that they are other than what they purport to be on their face.
 
(b) The Custodian shall not be responsible or liable for, and makes no representation or warranty with respect to, the validity, adequacy or perfection or any lien upon or security interest in the Mortgage Files.
 
(c) Any other provision of this Agreement to the contrary notwithstanding, the Custodian shall have no notice, and shall not be bound by any of the terms and conditions of any other document or agreement executed or delivered in connection with, or intended to control any part of, the transactions anticipated by or referred to in this Agreement unless the Custodian is a signatory party to that document or agreement.
 
(d) The Custodian may rely on and shall be protected in acting in good faith upon any certificate, instrument, opinion, notice, magnetic tape, letter, telegram or other document, or any security, delivered to it and in good faith believed by it to be genuine and to have been signed by the proper party or parties; but in the case of any loan document or other request, instruction, document or certificate which by any provision hereof is specifically required to be furnished to the Custodian, the Custodian shall be under a duty to examine the same to determine whether or not it conforms prima facie to the requirements of this Custodial Agreement.
 
(e) The Custodian shall not be liable for any error of judgment, or for any act done or step taken or omitted by it, in good faith, or for any mistake of fact or law, or for anything that it may do or refrain from doing in connection therewith, except in the case of its negligent performance or omission.
 
(f) The Custodian shall have no obligation to verify the receipt of any such documents the existence of which was not made known to the Custodian by the Mortgage Files.
 
(g)  The Custodian shall not be responsible for delays or failures in performance resulting from acts beyond its control. Such acts shall include, but not be limited to, acts of God, strikes, lockouts, riots, acts of war or terrorism, epidemics, nationalization, expropriation, currency restrictions, governmental regulations superimposed after the fact, fire, communication line failures, power failures, earthquakes or other disasters.
 
ARTICLE IV.
COMPLIANCE WITH REGULATION AB
 
Section 4.1. Intent of the parties; Reasonableness. The parties hereto acknowledge and agree that the purpose of this Article IV is to facilitate compliance by the Depositor, the Master Servicer and the Trustee with the provisions of Regulation AB and related rules and regulations of the Commission. The Depositor, the Master Servicer and the Trustee 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 parties hereto 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 the Custodian agrees to comply with requests made by the Depositor, the Master Servicer and the Trustee in good faith for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB to the extent reasonably practicable, unless otherwise advised in writing by counsel. The Custodian shall cooperate reasonably with the Depositor, the Master Servicer and the Trustee to deliver to the Depositor and the Master Servicer (including any of their respective assignees or designees), any and all disclosure, statements, reports, certifications, records and any other information necessary in the reasonable, good faith determination of the Depositor, the Master Servicer and the Trustee to permit the Depositor, the Master Servicer and the Trustee to comply with the provisions of Regulation AB.
 
Section 4.2. Additional Representations and Warranties of the Custodian.
 
(a) The Custodian hereby represents and warrants that the information with respect to the Custodian set forth in the Prospectus Supplement under the caption "Description of the Certificates—The Custodians—Treasury Bank" (the "Custodian Disclosure") does not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
 
(b) The Custodian shall be deemed to represent to the Depositor as of the date hereof and on each date on which information is provided to the Depositor under Section 4.3 that, except as disclosed in writing to the Depositor prior to such date: (i) there are no aspects of its financial condition that could have a material adverse effect on the performance by it of its Custodian obligations under this Agreement; (ii) there are no material legal or governmental proceedings pending (or known to be contemplated) against it that would affect or interfere with the performance of its obligations hereunder; and (iii) there are no affiliations, relationships or transactions relating to the Custodian with respect to the Depositor or any sponsor, issuing entity, servicer (other than Countrywide Home Loan Servicing LP), trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as such terms are used in Regulation AB) relating to the securitization transaction contemplated by the Pooling and Servicing Agreement, as identified by the Depositor to the Custodian in writing as of the Closing Date (each, a "Transaction Party") that would affect or interfere with the performance of its obligations hereunder and have not been previously disclosed to the Depositor and the Trustee.
 
(c) If so requested by the Depositor on any date following the Closing Date, the Custodian shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (1) of this section or, if any such representation and warranty is not accurate as of the date of such confirmation, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party. Any such request from the Depositor shall not be given more than once each calendar quarter, unless the Depositor shall have a reasonable basis for a determination that any of the representations and warranties may not be accurate.
 
Section 4.3. Additional Information to Be Provided by the Custodian. For so long as the Certificates are outstanding, for the purpose of satisfying the Depositor’s reporting obligation under the Exchange Act with respect to any class of Certificates, the Custodian shall (a) notify the Depositor, the Trustee and the Master Servicer in writing of any material litigation or governmental proceedings pending against the Custodian (including any such proceedings known to be contemplated by the governmental authorities) that would be material to Certificateholders, and (b) provide to the Depositor, Trustee and the Master Servicer a written description of such proceedings. Any notices and descriptions required under this Section 4.3 shall be given no later than five Business Days prior to the Determination Date following the month in which the Custodian has knowledge of the occurrence of the relevant event. As of the date the Depositor, the Trustee or Master Servicer files each Report on Form 10-D or Form 10-K with respect to the Certificates, the Custodian will be deemed to represent that any information previously provided under this Section 4.3, if any, is materially correct and does not have any material omissions unless the Custodian has provided an update to such information.
 
Section 4.4. Report on Assessment of Compliance and Attestation. On or before March 15 of each calendar year in which a Form 10-K is required to be filed with respect to the Trust, the Custodian shall:
 
(a) deliver to the Depositor, the Master Servicer and the Trustee a report (in form and substance reasonably satisfactory to the Depositor) regarding the Custodian’s assessment of compliance with the Applicable Servicing Criteria as set forth in Exhibit Four 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 addressed to the Depositor and the Trustee and signed by an authorized officer of the Custodian, and shall address each of the Servicing Criteria specified on a certification substantially in the form of Exhibit Four hereto; and
 
(b) deliver to the Depositor, the Master Servicer and the Trustee, a report of a registered public accounting firm reasonably acceptable to the Master Servicer, the Depositor and the Trustee that attests to, and reports on, the assessment of compliance made by the Custodian 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 4.5. Indemnification; Remedies.
 
(a) The Custodian shall indemnify the Depositor, each affiliate of the Depositor, the Master Servicer, the Trustee and each broker dealer acting as underwriter, placement agent or initial purchaser of the Certificates or each Person who controls any of such parties (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act); and the respective present and former directors, officers, employees and agents of each of the foregoing (each, an “Indemnified Party”), 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 the Custodian Disclosure and any information, report, certification, accountants’ attestation or other material provided under this Article IV by or on behalf of the Custodian (collectively, the “Custodian Information”), or (B) the omission or alleged omission to state in the Custodian Information a material fact required to be stated in the Custodian 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 Custodian to deliver any information, report, certification, accountants’ attestation or other material when and as required under this Article IV; or
 
(iii) the negligence, bad faith or willful misconduct of the Custodian in the performance of its obligations under this Article IV.
 
(b) In the case of any failure of performance described in clause (ii) of Section 4.5(a), the Custodian shall promptly reimburse the Depositor, the Trustee and the Master Servicer for all costs reasonably incurred by the Depositor and the Master Servicer, respectively, in order to obtain the information, report, certification, accountants’ letter or other material not delivered as required by the Custodian.
 
(c) In no event shall the Custodian or its directors, officers and employees be liable for any special, indirect or consequential damages from any action taken or omitted to be taken by it or them hereunder or in connection herewith even if advised of the possibility of such damages.
 
If the indemnification provided for herein is unavailable or insufficient to hold harmless any Indemnified Party, then the Custodian agrees that it shall contribute to the amount paid or payable by such Indemnified Party as a result of any claims, losses, damages or liabilities incurred by such Indemnified Party in such proportion as is appropriate to reflect the relative fault of such Indemnified Party on the one hand and the Custodian on the other. This indemnification shall survive the termination of this Agreement or the termination of the Custodian.
 
ARTICLE V.
MISCELLANEOUS PROVISIONS
 
Section 5.1. Notices. All notices, requests, consents and demands and other communications required under this Agreement or pursuant to any other instrument or document delivered hereunder shall be in writing and, unless otherwise specifically provided, may be delivered personally, by telegram or telex, or by registered or certified mail, postage prepaid, return receipt requested, at the addresses specified on the signature page hereof (unless changed by the particular party whose address is stated herein by similar notice in writing), in which case the notice will be deemed delivered when received.
 
Section 5.2. Amendments. No modification or amendment of or supplement to this Agreement shall be valid or effective unless the same is in writing and signed by all parties hereto, and neither the Depositor, the Master Servicer nor the Trustee shall enter into any amendment hereof except as permitted by the Pooling and Servicing Agreement. The Trustee shall give prompt notice to the Custodian of any amendment or supplement to the Pooling and Servicing Agreement and furnish the Custodian with written copies thereof.
 
Section 5.3. GOVERNING LAW. THIS AGREEMENT SHALL BE DEEMED A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS RULES (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL APPLY HERETO).
 
Section 5.4. Recordation of Agreement. 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 Depositor and at the Trust's expense on direction by the Trustee, but only upon direction accompanied by an Opinion of Counsel reasonably satisfactory to the Depositor to the effect that the failure to effect such recordation is likely to materially and adversely affect the interests of the Certificateholders.
 
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 5.5. 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.
 
[Signature page follows]
 

 
IN WITNESS WHEREOF, this Agreement is executed as of the date first above written.

Address:
 
9062 Old Annapolis Road
Columbia, Maryland 21045
WELLS FARGO BANK,
N.A., as Trustee
 
 
By:___________________________________
Name: 
Title: 
   
Address:
 
383 Madison Avenue
New York, New York 10179
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
 
 
By:___________________________________
Name:
Title: 
   
Address:
 
2780 Lake Vista Drive
Lewisville, Texas 75067
(214) 626-4889
Attention: Michelle Viner
EMC MORTGAGE CORPORATION, as Master Servicer and Seller
 
 
By:___________________________________
Name: 
Title: 
   
Address:
 
4100 E. Los Angeles Avenue
Simi Valley, California 93063
Attention: Teresita Que
Telephone: (805) 577-6028
Facsimile: (805) 577-6069
TREASURY BANK, A DIVISION OF COUNTRYWIDE BANK, FSB, as Custodian
 
 
By:___________________________________
Name: 
Title: 

 
STATE OF MARYLAND ) 
  ) ss:
COUNTY OF HOWARD )
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared _____________________, known to me to be a(n) ____________________ of Wells Fargo Bank, N.A., a national banking association that executed the within instrument, and also known to me to be the person who executed it on behalf of said national banking association, and acknowledged to me that such national banking association 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.
 
____________________________
Notary Public
[SEAL]
 

 
STATE OF NEW YORK ) 
  ) ss:
COUNTY OF NEW YORK )
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared _____________________, known to me to be a(n) ____________________ of Structured Asset Mortgage Investments II 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.
 
____________________________
Notary Public
[Notarial Seal]
 

 
STATE OF TEXAS ) 
  ) ss:
COUNTY OF DALLAS )

On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared __________________known to me to be an authorized representative of EMC Mortgage 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 national banking association, and acknowledged to me that such national banking association 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.
 
____________________________
Notary Public
 
[SEAL]
 

 
STATE OF CALIFORNIA ) 
  ) ss:
COUNTY OF ___________ )
 
On the 30th day of April, 2007 before me, a notary public in and for said State, personally appeared ______________, known to me to be a __________________ of Treasury Bank, a division of Countrywide Bank, FSB, 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.
 
____________________________
Notary Public
[Notarial Seal]
 

 
SCHEDULE 1
 
Mortgage Loans
 
[Provided upon Request]
 


EXHIBIT ONE
 
FORM OF CUSTODIAN INITIAL CERTIFICATION
 
April 30, 2007
 
Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045

Structured Asset Mortgage Investments II Inc.
383 Park Avenue
New York, New York 10179
 
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Janan Weeks
Email: jweeks@bear.com
Facsimile: (214) 626-3704

With a copy to:
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Michelle Viner
Email:  mviner@bear.com
Facsimile: (214) 626-4889

Attention: Bear Stearns ARM Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3

 
Re:          Custodial Agreement, dated as of April 30, 2007, by and among
Wells Fargo Bank, N.A., Structured Asset Mortgage Investments II
Inc., EMC Mortgage Corporation and Treasury Bank, a division of
Countrywide Bank, FSB relating to Bear Stearns ARM Trust 2007-
3, Mortgage Pass-Through Certificates, Series 2007-3  
 
Ladies and Gentlemen:
 
In accordance with Section 2.3 of the above-captioned Custodial Agreement, and subject to Section 2.02 of the Pooling and Servicing Agreement, the undersigned, as Custodian, hereby certifies that it has received a Mortgage File (which contains an original Mortgage Note or lost note affidavit) to the extent required in Section 2.01 of the Pooling and Servicing Agreement (other than with respect to clause (b)(v) thereof, for which no review has been made) with respect to each Mortgage Loan listed in the Mortgage Loan Schedule, with any exceptions listed on Schedule A attached hereto.
 
Capitalized words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Custodial Agreement.
 
TREASURY BANK, A DIVISION OF
COUNTRYWIDE BANK, FSB
 
By:______________________________________
Name: 
Title: 


 
SCHEDULE A TO EXHIBIT ONE
 
Exceptions
 


EXHIBIT TWO
 
FORM OF CUSTODIAN INTERIM CERTIFICATION
 
_________ ___, 200__
 
Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045

Structured Asset Mortgage Investments II Inc.
383 Park Avenue
New York, New York 10179
 
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Janan Weeks
Email: jweeks@bear.com
Facsimile: (214) 626-3704

With a copy to:
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Michelle Viner
Email:  mviner@bear.com
Facsimile: (214) 626-4889

Attention: Bear Stearns ARM Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3
 
Re:           Custodial Agreement, dated as of April 30, 2007, by and among
Wells Fargo Bank, N.A., Structured Asset Mortgage Investments II
Inc., EMC Mortgage Corporation and Treasury Bank, a division of
Countrywide Bank, FSB relating to Bear Stearns ARM Trust 2007-
3, Mortgage Pass-Through Certificates, Series 2007-3  
 
Ladies and Gentlemen:
In accordance with Section 2.3 of the above-captioned Custodial Agreement, the undersigned, as Custodian, hereby certifies that it has received a Mortgage File to the extent required pursuant to Section 2.01 of the Pooling and Servicing Agreement (other than with respect to clause (b)(v) thereof, for which no review has been made) with respect to each Mortgage Loan listed in the Mortgage Loan Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule and has determined that: all required documents have been executed and received and that such documents related to the Mortgage Loans identified on the Mortgage Loan Schedule, with any exceptions listed on Schedule A attached hereto.
 
Capitalized words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Custodial Agreement.
 
TREASURY BANK, A DIVISION OF
COUNTRYWIDE BANK, FSB
 
By: ___________________________
Name: 
Title: 
 


SCHEDULE A TO EXHIBIT TWO
 
Exceptions
 


 

EXHIBIT THREE
 
FORM OF CUSTODIAN FINAL CERTIFICATION
 
__________ ____, 200__
 
Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045

Structured Asset Mortgage Investments II Inc.
383 Park Avenue
New York, New York 10179
 
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Janan Weeks
Email: jweeks@bear.com
Facsimile: (214) 626-3704

With a copy to:
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067
Attention: Michelle Viner
Email:  mviner@bear.com
Facsimile: (214) 626-4889

Attention: Bear Stearns ARM Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3
 
Re:          Custodial Agreement, dated as of April 30, 2007, by and among
Wells Fargo Bank, N.A., Structured Asset Mortgage Investments II
Inc., EMC Mortgage Corporation and Treasury Bank, a division of
Countrywide Bank, FSB relating to Bear Stearns ARM Trust 2007-
3, Mortgage Pass-Through Certificates, Series 2007-3  
 
Ladies and Gentlemen:
 
In accordance with Section 2.3 of the above-captioned Custodial Agreement, the undersigned, as Custodian, hereby certifies that it has received a Mortgage File to the extent required pursuant to Section 2.01 of the Pooling and Servicing Agreement (other than with respect to clause (b)(v) thereof, for which no review has been made) with respect to each Mortgage Loan listed in the Mortgage Loan Schedule, and it has reviewed the Mortgage File and the Mortgage Loan Schedule and has determined that an original of each document related thereto required to be recorded has been returned from the related recording office with evidence of recording thereon, or a certified copy has been obtained from the related recording office, with any exceptions listed in Schedule A attached hereto.
 
Capitalized words and phrases used herein shall have the respective meanings assigned to them in the above-captioned Custodial Agreement.
 
TREASURY BANK, A DIVISION OF
COUNTRYWIDE BANK, FSB
 
By: __________________________
Name: 
Title:
 

 

SCHEDULE A TO EXHIBIT THREE
 
Exceptions
 

 

EXHIBIT FOUR
 
SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
 
The assessment of compliance to be delivered by the Custodian shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”;
 
 
Servicing Criteria
Applicable
Servicing 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 appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt and identification, or such other number of days specified in the transaction agreements.
 
 
1122(d)(2)(ii)
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized 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.
 
 
 
1122(d)(2)(iv)
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set 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 institutions” 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 reconciliations; 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 accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.
 
 
 
1122(d)(3)(iii)
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 transaction agreements.
 
 
 
1122(d)(3)(iv)
Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, 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.
 
1122(d)(4)(ii)
Pool assets and related documents are safeguarded as 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 of recovery actions (e.g., forbearance plans, modifications and deed 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 documents.
 
 
 
 
 
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 in 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 3- 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 ore 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 service 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.
 
1122(d)(4)(xiii)
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 days specified in the transaction agreements.
 
1122(d)(4)(xiv)
Delinquencies, charge-offs and uncollectible funds are recognized and recorded in accordance with the transaction agreements.
 
1122(d)(4)(xv)
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 transaction agreements.
 

 

 
EXHIBIT H
 
COUNTRYWIDE SERVICING AGREEMENT
 
 
 


 
 
EMC Mortgage Corporation,
 
  Purchaser
 
and
 
Countrywide Home Loans, Inc.,
 
  Company
 

SELLER’S WARRANTIES AND SERVICING AGREEMENT

 
Dated as of September 1, 2002

 
Residential Adjustable Rate Mortgage Loans



TABLE OF CONTENTS
 
ARTICLE I
 
DEFINITIONS
 
ARTICLE II

CONVEYANCE OF MORTGAGE LOANS; POSSESSION OF MORTGAGE FILES;
BOOKS AND RECORDS; DELIVERY OF DOCUMENTS
 
Section 2.01
Conveyance of Mortgage Loans; Possession of Mortgage Files; Maintenance of Servicing Files.
Section 2.02
Books and Records; Transfers of Mortgage Loans.
Section 2.03
Delivery of Documents.
 
ARTICLE III
   
REPRESENTATIONS AND WARRANTIES;
REMEDIES AND BREACH
 
Section 3.01
Company Representations and Warranties.
Section 3.02
Representations and Warranties Regarding Individual Mortgage Loans.
Section 3.03
Remedies for Breach of Representations and Warranties.
Section 3.04
Indemnification.
Section 3.05
Repurchase Upon Conversion.
Section 3.06
Restrictions and Requirements Applicable in the Event that a Mortgage Loan is Acquired by a REMIC
Section 3.07
Review of Mortgage Loans
   
ARTICLE IV
   
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
 
Section 4.01
Company to Act as Servicer.
Section 4.02
Liquidation of Mortgage Loans.
Section 4.03
Collection of Mortgage Loan Payments.
Section 4.04
Establishment of and Deposits to Custodial Account.
Section 4.05
Permitted Withdrawals From Custodial Account.
Section 4.06
Establishment of and Deposits to Escrow Account.
Section 4.07
Permitted Withdrawals From Escrow Account.
Section 4.08
Payment of Taxes, Insurance and Other Charges.
Section 4.09
Protection of Accounts.
Section 4.10
Maintenance of Hazard Insurance.
Section 4.11
Maintenance of Mortgage Impairment Insurance.
Section 4.12
Maintenance of Fidelity Bond and Errors and Omissions Insurance.
Section 4.13
Inspections.
Section 4.14
Restoration of Mortgaged Property.
Section 4.15
Maintenance of PMI and LPMI Policy; Claims.
Section 4.16
Title, Management and Disposition of REO Property.
Section 4.17
Real Estate Owned Reports.
Section 4.18
Liquidation Reports.
Section 4.19
Reports of Foreclosures and Abandonments of Mortgaged Property.
Section 4.20
Notification of Adjustments.
   
ARTICLE V
   
PAYMENTS TO PURCHASER
 
Section 5.01
Remittances.
Section 5.02
Statements to Purchaser.
Section 5.03
Monthly Advances by Company.
   
ARTICLE VI
   
GENERAL SERVICING PROCEDURES
 
Section 6.01
Transfers of Mortgaged Property.
Section 6.02
Satisfaction of Mortgages and Release of Mortgage Files.
Section 6.03
Servicing Compensation.
Section 6.04
Annual Statement as to Compliance.
Section 6.05
Annual Independent Public Accountants’ Servicing Report.
Section 6.06
Right to Examine Company Records.
   
ARTICLE VII
   
AGENCY TRANSFER; PASS-THROUGH TRANSFER
 
Section 7.01
Removal of Mortgage Loans from Inclusion Under this Agreement Upon an Agency Transfer, or a Pass-Through Transfer on One or More Reconstitution Dates.
Section 7.02
Purchaser’s Repurchase and Indemnification Obligations.
   
ARTICLE VIII
   
COMPANY TO COOPERATE
 
Section 8.01
Provision of Information.
Section 8.02
Financial Statements; Servicing Facility.
   
ARTICLE IX
   
THE COMPANY
 
Section 9.01
Indemnification; Third Party Claims.
Section 9.02
Merger or Consolidation of the Company.
Section 9.03
Limitation on Liability of Company and Others.
Section 9.04
Limitation on Resignation and Assignment by Company.
   
ARTICLE X
   
DEFAULT
 
Section 10.01
Events of Default.
Section 10.02
Waiver of Defaults.
   
ARTICLE XI
   
TERMINATION
 
Section 11.01
Termination.
Section 11.02
Termination Without Cause.
   
ARTICLE XII
   
MISCELLANEOUS PROVISIONS
 
Section 12.01
Successor to Company.
Section 12.02
Amendment.
Section 12.03
Governing Law.
Section 12.04
Duration of Agreement.
Section 12.05
Notices.
Section 12.06
Severability of Provisions.
Section 12.07
Relationship of Parties.
Section 12.08
Execution; Successors and Assigns.
Section 12.09
Recordation of Assignments of Mortgage.
Section 12.10
Assignment by Purchaser.
Section 12.11
No Personal Solicitation.
 

 
EXHIBITS
 
EXHIBIT A
MORTGAGE LOAN SCHEDULE
EXHIBIT B
CONTENTS OF EACH MORTGAGE FILE
EXHIBIT C
MORTGAGE LOAN DOCUMENTS
EXHIBIT D-1
FORM OF CUSTODIAL ACCOUNT CERTIFICATION
EXHIBIT D-2
FORM OF CUSTODIAL ACCOUNT LETTER AGREEMENT
EXHIBIT E-1
FORM OF ESCROW ACCOUNT CERTIFICATION
EXHIBIT E-2
FORM OF ESCROW ACCOUNT LETTER AGREEMENT
EXHIBIT F
FORM OF MONTHLY REMITTANCE ADVICE
EXHIBIT G
FORM OF ASSIGNMENT AND ASSUMPTION
EXHIBIT H
UNDERWRITING GUIDELINES


 
This is a Seller’s Warranties and Servicing Agreement for residential adjustable rate first lien mortgage loans, dated and effective as of September 1, 2002, and is executed between EMC Mortgage Corporation, as purchaser (the “Purchaser”), and Countrywide Home Loans, Inc., as seller and servicer (the “Company”).
 
W I T N E S S E T H:
 
WHEREAS, from time to time the Purchaser has agreed to purchase from the Company and from time to time the Company has agreed to sell to the Purchaser certain Mortgage Loans (excluding the right to service the Mortgage Loans which the Company expressly retains);
 
WHEREAS, each of the Mortgage Loans is secured by a mortgage, deed of trust or other security instrument creating a first lien on a residential dwelling located in the jurisdiction indicated on the related Mortgage Loan Schedule, which is annexed hereto as Exhibit A;
WHEREAS, the Company has agreed to service, from time to time, certain of the Mortgage Loans acquired by the Purchaser in accordance with the terms and provisions of this Agreement; and
 
WHEREAS, the Purchaser and the Company wish to prescribe the manner of purchase of the Mortgage Loans and the management, servicing and control of the Mortgage Loans which from time to time are subject to this Agreement.
 
 
NOW, THEREFORE, in consideration of the mutual agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Purchaser and the Company agree as follows:
 
ARTICLE I
 
DEFINITIONS
 
Whenever used herein, the following words and phrases, unless the context otherwise requires, shall have the following meanings:
 
Accepted Servicing Practices: With respect to any Mortgage Loan, those mortgage servicing practices of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located.
 
Agency Transfer: The sale or transfer by Purchaser of some or all of the Mortgage Loans to Fannie Mae under its Cash Purchase Program or its MBS Swap Program (Special Servicing Option) or to Freddie Mac under its Freddie Mac Cash Program or Gold PC Program, retaining the Company as “servicer thereunder”.
 
Agreement: This Seller’s Warranties and Servicing Agreement and all amendments hereof and supplements hereto.
 
ALTA: The American Land Title Association or any successor thereto.
 
Appraised Value: The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.
 
Approved Flood Certification Provider: Any provider acceptable to Fannie Mae and Freddie Mac.
 
Assignment and Conveyance: An Assignment and Conveyance in the form of Exhibit 6 to the Mortgage Loan Purchase Agreement dated as of the date hereof, by and between the Seller and the Purchaser.
 
Assignment of Mortgage: 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 the sale of the Mortgage to the Purchaser.
 
BIF: The Bank Insurance Fund, or any successor thereto.
 
Business Day: Any day other than (i) a Saturday or Sunday, or (ii) a day on which banking and savings and loan institutions in the State of New York or California are authorized or obligated by law or executive order to be closed.
 
Closing Date: The date set forth on the related Confirmation on which the Purchaser from time to time shall purchase and the Company from time to time shall sell, the Mortgage Loans listed on the related Mortgage Loan Schedule.
 
Code: The Internal Revenue Code of 1986, as it may be amended from time to time or any successor statute thereto, and applicable U.S. Department of the Treasury regulations issued pursuant thereto.
 
Company: Countrywide Home Loans, Inc., or its successor in interest or assigns, or any successor to the Company under this Agreement appointed as herein provided.
 
Condemnation Proceeds: All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.
 
Confirmation: The trade confirmation letter between the parties hereto which relates to the Mortgage Loans on the related Closing Date.
 
Convertible Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the Mortgagor is permitted to convert the Mortgage Loan to a fixed-rate mortgage loan at any time between the first anniversary and the fifth anniversary of the origination of the mortgage loan.
 
Custodial Account: The separate account or accounts created and maintained pursuant to Section 4.04.
 
Custodial Agreement: That certain Custodial Agreement, dated as of November 23,1999 by and between the Purchaser and Wells Fargo Bank Minnesota, N.A.
 
Custodian: The Custodian under the Custodial Agreement, or its successor in interest or assigns or any successor to the Custodian under the Custodial Agreement as provided therein.
 
Cut-off Date: The date set forth on the related Confirmation.
 
Deleted Mortgage Loan: A Mortgage Loan which is repurchased by the Company in accordance with the terms of this Agreement and which is, in the case of a substitution pursuant to Section 3.03, replaced or to be replaced with a Qualified Substitute Mortgage Loan.
 
Determination Date: The 15th day (or if such 15th day is not a Business Day, the Business Day immediately preceding such 15th day) of the month of the related Remittance Date.
 
Disqualified Organization: An organization defined as such in Section 860E(e) of the Code.
 
Due Date: The day of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive of any days of grace. With respect to the Mortgage Loans for which payment from the Mortgagor is due on a day other than the first day of the month, such Mortgage Loans will be treated as if the Monthly Payment is due on the first day of the month of such Due Date.
 
Due Period: With respect to each Remittance Date, the prior calendar month.
 
Eligible Investments: Any one or more of the obligations and securities listed below which investment provides for a date of maturity not later than the Determination Date in each month:
 
(i)  direct obligations of, and obligations fully guaranteed by, the United States of America, or any agency or instrumentality of the United States of America the obligations of which are backed by the full faith and credit of the United States of America; and
 
(ii)  federal funds, demand and time deposits in, certificates of deposits of, or bankers’ acceptances issued by, any depository institution or trust company incorporated or organized under the laws of the United States of America or any state thereof and subject to supervision and examination by federal and/or state banking authorities, so long as at the time of such investment or contractual commitment providing for such investment the commercial paper or other short-term debt obligations of such depository institution or trust company (or, in the case of a depository institution or trust company which is the principal subsidiary of a holding company, the commercial paper or other short-term debt obligations of such holding company) are rated “P-1” by Moody’s Investors Service, Inc. and the long-term debt obligations of such holding company) are rated “P-1” by Moody’s Investors Service, Inc. and the long-term debt obligations of such depository institution or trust company (or, in the case of a depository institution or trust company which is the principal subsidiary of a holding company, the long-term debt obligations of such holding company) are rated at least “Aa” by Moody’s Investors Service, Inc.;
 
(iii)  investments and securities otherwise acceptable to Fannie Mae and Freddie Mac.
 
provided, however, that no such instrument shall be an Eligible Investment if such instrument evidences either (i) a right to receive only interest payments with respect to the obligations underlying such instrument, or (ii) 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 of greater than 120% of the yield to maturity at par of such underlying obligations.
 
Errors and Omissions Insurance Policy: An errors and omissions insurance policy to be maintained by the Company pursuant to Section 4.12.
 
Escrow Account: The separate account or accounts created and maintained pursuant to Section 4.06.
 
Escrow Payments: With respect to any Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, condominium charges, and any other payments required to be escrowed by the Mortgagor with the mortgagee pursuant to the Mortgage or any other related document.
 
Event of Default: Any one of the conditions or circumstances enumerated in Section 10.01.
 
Fannie Mae: The Federal National Mortgage Association, or any successor thereto.
 
Fannie Mae Guides: The Fannie Mae Sellers’ Guide and the Fannie Mae Servicers’ Guide and all amendments or additions thereto.
 
FDIC: The Federal Deposit Insurance Corporation, or any successor thereto.
 
Fidelity Bond: A fidelity bond to be maintained by the Company pursuant to Section 4.12.
 
First Remittance Date: As stated in the related Mortgage Loan Purchase Agreement.
 
5/1 ARM Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is fixed for the first five (5) years of the term of the related Mortgage Loan and which thereafter is converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except that the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment Date for the related Mortgage Loan.
 
Freddie Mac: The Federal Home Loan Mortgage Corporation, or any successor thereto.
 
GEMICO: General Electric Mortgage Insurance Corporation or any successor thereto.
 
Gross Margin: With respect to each Mortgage Loan, the fixed percentage amount set forth on the related Mortgage Note, which amount is added to the Index in accordance with the terms of the related Mortgage Note to determine on each Interest Rate Adjustment Date, the Mortgage Interest Rate for such Mortgage Loan.
 
Index: With respect to any individual Treasury Rate Mortgage Loan, and with respect to any individual 10/1 ARM Mortgage Loan, 5/1 ARM Mortgage Loan or 3/1 ARM Mortgage Loan commencing from and after the 120th Monthly Payment, sixtieth Monthly Payment, or the thirty-sixth Monthly Payment thereof, respectively, Index shall mean a rate per annum equal to the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year as published by the Federal Reserve Board in statistical release No. H 15 (519) or any similar publication as available 45 days prior to the Interest Rate Adjustment Date. With respect to any individual LIBOR Mortgage Loan, Index shall mean a rate per annum equal to the average of interbank offered rates for twelve month U.S. dollar denominated deposits in the London market as determined as set forth in the related Mortgage Note. With respect to any individual CD Mortgage Loan, Index shall mean a rate per annum equal to the weekly average yield on certificates of deposit adjusted to a constant maturity of six months as published by the Federal Reserve Board in statistical release No. H 15 (519) or similar publication as available 45 days prior to the Interest Rate Adjustment Date.
 
Initial Rate Cap: With respect to each Mortgage Loan and the initial Interest Rate Adjustment Date therefor, a number of percentage points per annum that is set forth in the related Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum amount by which the Mortgage Interest Rate for such Mortgage Loan may increase or decrease from the Mortgage Interest Rate in effect immediately prior to such Interest Rate Adjustment Date.
 
Insurance Proceeds: With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.
 
Interest Rate Adjustment Date: The date on which an adjustment to the Mortgage Interest Rate on a Mortgage Note becomes effective.
 
LIBOR Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is adjusted annually based upon the rate per annum equal to the average of interbank offered rates for twelve month U.S. dollar denominated deposits in the London market as published in The Wall Street Journal.
 
Lifetime Mortgage Interest Rate Cap: With respect to each Mortgage Loan, the absolute maximum Mortgage Interest Rate payable, above which the Mortgage Interest Rate cannot be adjusted. The Mortgage Interest Rate during the term of a Mortgage Loan shall not at any time exceed the Mortgage Interest Rate at the time of origination of such Mortgage Loan by more than 5% per
 
Liquidation Proceeds: Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan.
 
Loan-to-Value Ratio or LTV: With respect to any Mortgage Loan, the ratio of the Stated Principal Balance of the Mortgage Loan as of the related Cut-off Date (unless otherwise indicated) to the lesser of (a) the Appraised Value of the Mortgaged Property and (b) if the Mortgage Loan was made to finance the acquisition of the related Mortgaged Property, the purchase price of the Mortgaged Property, expressed as a percentage.
 
LPMI Loan: A Mortgage Loan with a LPMI Policy.
 
LPMI Policy: A policy of primary mortgage guaranty insurance issued by another Qualified Insurer pursuant to which the related premium is to be paid by the Servicer of the related Mortgage Loan from payments of interest made by the Mortgagor in an amount as is set forth in the related Confirmation and related Mortgage Loan Schedule.
 
LPMI Fee: With respect to each LPMI Loan, the portion of the Mortgage Interest Rate as set forth on the related Mortgage Loan Schedule (which shall be payable solely from the interest portion of Monthly Payments, Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds), which, during such period prior to the required cancellation of the LPMI Policy, shall be used to pay the premium due on the related LPMI Policy.
 
MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
 
MERS Mortgage Loan: Any Mortgage Loan registered with MERS on the MERS System.
 
MERS System: The system of recording transfers of mortgages electronically maintained by MERS.
 
MIN: The Mortgage Identification Number for any MERS Mortgage Loan.
 
Monthly Advance: The portion of Monthly Payment delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.
 
Monthly Payment: The scheduled monthly payment of principal and interest on a Mortgage Loan.
 
Mortgage: The mortgage, deed of trust or other instrument securing a Mortgage Note, which creates a first lien on an unsubordinated estate in fee simple in real property securing the Mortgage Note.
 
Mortgage File: The items pertaining to a particular Mortgage Loan referred to in Exhibit B annexed hereto, and any additional documents required to be added to the Mortgage File pursuant to this Agreement.
 
Mortgage Impairment Insurance Policy: A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.
 
Mortgage Interest Rate: The annual rate at which Interest accrues on any Mortgage Loan as adjusted from time to time in accordance with the provisions of the related Mortgage Note and in compliance with the related Initial Rate Cap, Lifetime Mortgage Interest Rate Cap and Periodic Rate Cap, if any, of the related Mortgage Note.
 
Mortgage Loan: An individual Convertible or Non-Convertible, Treasury Rate, LIBOR, 5/1 ARM, or 3/1 ARM Mortgage Loan which is the subject of this Agreement, each Mortgage Loan originally sold and subject to this Agreement being identified on the Mortgage Loan Schedule, which Mortgage Loan includes without limitation the Mortgage File, the Monthly Payments, Principal Prepayments, Liquidation Proceeds, condemnation proceeds, Insurance Proceeds, REO disposition proceeds, and all other rights, benefits, proceeds and obligations arising from or in connection with such Mortgage Loan.
 
Mortgage Loan Documents: The documents listed in Exhibit C hereto.
 
Mortgage Loan Package: A pool of Mortgage Loans sold to the Purchaser by the Company on a Closing Date.
 
Mortgage Loan Remittance Rate: With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus (i) the Servicing Fee Rate and (ii) with respect to LPMI Loans, the LPMI Fee.
 
Mortgage Loan Schedule: With respect to each Mortgage Loan Package, a schedule of Mortgage Loans annexed hereto as Annex A, such schedule setting forth the following information with respect to each Mortgage Loan: (1) the Company’s Mortgage Loan identifying number; (2) the Mortgagor’s name; (3) the street address of the Mortgaged Property including the city, state and zip code; (4) a code indicating whether the Mortgaged Property is owner-occupied a second home, or an investment property; (5) the number and type of residential units constituting the Mortgaged Property; (6) the original months to maturity; (7) the Loan-to-Value Ratio at origination; (8) the Mortgage Interest Rate as of the Cut-off Date; (9) the date on which the initial Monthly Payment was due on the Mortgage Loan; (10) the stated maturity date; (11) the amount of the Monthly Payment as of the Cut-off Date; (12) the last payment date on which a payment was actually applied to the outstanding principal balance; (13) the original principal amount of the Mortgage Loan; (14) the principal balance of the Mortgage Loan as of the close of business on the Cut-off Date, after deduction of payments of principal due on or before the Cut-off Date whether or not collected; (15) a code indicating the purpose of the loan (i.e., purchase, rate and term refinance, equity take-out refinance); (16) a code indicating the documentation style (i.e. full, alternative or reduced); (17) the Interest Rate Adjustment Date; (18) the Gross Margin; (19) the lifetime maximum Mortgage Interest Rate under the terms of the Mortgage Note; (20) the date the Mortgage Loan was originated; (21) the Periodic Rate Cap; (22) a code indicating the company providing private mortgage insurance; (23) a code indicating if the Mortgage Loan is convertible; (24) the Servicing Fee Rate; (25) the LPMI Fee, if any; and (26) the Initial Rate Cap. With respect to the Mortgage Loans in the aggregate, the Mortgage Loan Schedule shall set forth the following information, as of the Cut-off Date: (1) the number of Mortgage Loans; (2) the current aggregate outstanding principal balance of the Mortgage Loans; (3) the weighted average Mortgage Interest Rate of the Mortgage Loans; and (4) the weighted average maturity of the Mortgage Loans. The Mortgage Loan Schedule may consist of multiple reports that collectively set forth all of the required information. 
 
Mortgage Note: The note or other evidence of the indebtedness of a Mortgagor secured by a Mortgage.
 
Mortgaged Property: The real property securing repayment of the debt evidenced by a Mortgage Note.
 
Mortgagor: The obligor on a Mortgage Note.
 
Non-Convertible Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which does not contain a provision whereby the Mortgagor may convert the Mortgage Loan to a fixed-rate mortgage loan.
 
Officer’s Certificate: A certificate signed by the Chairman of the Board or the Vice Chairman of the Board or the President or a Vice President or an assistant Vice President and by the Treasurer or the Secretary or one of the Assistant Treasurers or Assistant Secretaries of the Company, and delivered to the Purchaser as required by this Agreement.
 
Opinion of Counsel: A written opinion of counsel, who may be an employee of the Company, reasonably acceptable to the Purchaser, provided that any Opinion of Counsel relating to compliance with the REMIC Provisions, must be an opinion of counsel who (i) is in fact independent of the Company and any master servicer of the Mortgage Loans, (ii) does not have any material direct or indirect financial interest in the Company or any master servicer of the Mortgage Loans or in an affiliate of either and (iii) is not connected with the Company or any master servicer of the Mortgage Loans as an officer, employee, director or person performing similar functions.
 
Pass-Through Transfer: The sale or transfer of some or all of the Mortgage Loans to a trust to be formed as part of a publicly-issued and/or privately placed, rated or unrated, mortgage pass-through transaction, retaining the Company as “servicer” (with or without a master servicer) thereunder. 
 
Periodic Rate Cap: With respect to each Mortgage Loan, the provision of each Mortgage Note which provides for an absolute maximum amount by which the Mortgage Interest Rate therein may increase or decrease on an Interest Rate Adjustment Date above the Mortgage Interest Rate previously in effect, equal to the rate set forth on the Mortgage Loan Schedule per adjustment.
 
Person: Any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
 
PMI: PMI Mortgage Insurance Co., or any successor thereto.
 
PMI Policy: A policy of primary mortgage guaranty insurance issued by a Qualified Insurer, as required by this Agreement with respect to certain Mortgage Loans.
 
Pool Insurer: Any of GEMICO, PMI or UGI.
 
Prepayment Interest Shortfall Amount: With respect to any Mortgage Loan that was subject to a Principal Prepayment in full or in part during any Due Period, which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the amount of interest (net the related Servicing Fee) that would have accrued on the amount of such Principal Prepayment during the period commencing on the date as of which such Principal Prepayment was applied to such Mortgage Loan and ending on the day immediately preceding such Due Date, inclusive.
 
Prime Rate: The prime rate announced to be in effect from time to time, as published as the average rate in the “Money Rates” section of The Wall Street Journal.
 
Principal Prepayment: Any payment or other recovery of principal on a Mortgage Loan which is received in advance of its scheduled Due Date, including any prepayment penalty or premium thereon and which is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.
 
Principal Prepayment Period: The month preceding the month in which the related Remittance Date occurs.
 
Purchaser: EMC Mortgage Corporation or its successor in interest or any successor to the Purchaser under this Agreement as herein provided.
 
Qualified Depository: A depository the accounts of which are insured by the FDIC through the BIF or the SAIF or the debt obligations of which are rated AA (or the equivalent rating category) or better by national recognized statistical rating organization.
 
Qualified Insurer: A mortgage guaranty insurance company duly authorized and licensed where required by law to transact mortgage guaranty insurance business and approved as an insurer by Fannie Mae or Freddie Mac.
 
Qualified Substitute Mortgage Loan: A mortgage loan eligible to be substituted by the Company for a Deleted Mortgage Loan which must, on the date of such substitution, (i) have an outstanding principal balance, after deduction of all scheduled payments 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 principal balance), not in excess of the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have a Mortgage Loan Remittance Rate not less than and not more than 2% greater than the Mortgage Loan Remittance Rate of the Deleted Mortgage Loan; (iii) have a remaining term to maturity not greater than and not more than one year less than that of the Deleted Mortgage Loan; (iv) have a Gross Margin not less than that of the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Sections 3.01 and 3.02; (v) use the same Index for determining the Mortgage Interest Rate as the Deleted Mortgage Loan; (vi) have the same provision with respect to convertibility as the Deleted Mortgage Loan; and (viii) be a REMIC Eligible Mortgage Loan.
 
Rating Agency: Any of Fitch, Moody’s or Standard & Poor’s or their respective successors designed by the Purchaser.
 
Reconstitution Agreements: The agreement or agreements entered into by the Purchaser, the Company, Fannie Mae or Freddie Mac or certain third parties on the Reconstitution Date(s) with respect to any or all of the Mortgage Loans serviced hereunder, in connection with a Pass-Through Transfer or an Agency Transfer as set forth in Section 7.01, including, but not limited to, (i) a Fannie Mae Mortgage Selling and Servicing Contract, a Pool Purchase Contract, and any and all servicing agreements and tri-party agreements reasonably required by Fannie Mae with respect to a Fannie Mae Transfer, (ii) a Purchase Contract and all purchase documents associated therewith as set forth in the Freddie Mac Sellers’ & Servicers’ Guide, and any and all servicing agreements and tri-party agreements reasonably required by Freddie Mac with respect to a Freddie Mac Transfer, and (iii) a Pooling and Servicing Agreement and/or a subservicing/master servicing agreement and related custodial/trust agreement and related documents with respect to a Pass-Through Transfer. Such agreement or agreements shall prescribe the rights and obligations of the Company in servicing the related Mortgage Loans and shall provide for servicing compensation to the Company (calculated on a weighted average basis for all the related Mortgage Loans as of the Reconstitution Date), net of any guarantee fees due Fannie Mae or Freddie Mac, if applicable, at least equal to the Servicing Fee due the Company in accordance with this Agreement or the servicing fee required pursuant to the Reconstitution Agreement. The form of relevant Reconstitution Agreement to be entered into by the Purchaser and/or master servicer or trustee and the Company with respect to Pass-Through Transfers shall be reasonably satisfactory in form and substance to the Purchaser and the Company, shall not material increase the Company’s obligations or diminish the Company’s rights hereunder and the representations and warranties and servicing provisions contained therein shall be substantially similar to those contained in this Agreement, unless otherwise mutually agreed by the parties.
 
Reconstitution Date: The date or dates on which any or all of the Mortgage Loans serviced under this Agreement shall be removed from this Agreement and reconstituted as part of an Agency Transfer or a Pass-Through Transfer pursuant to Section 7.01 hereof. On such date or dates, the Mortgage Loans transferred shall cease to be covered by this Agreement and the Company’s servicing responsibilities shall cease under this Agreement with respect to the related transferred Mortgage Loans.
 
Record Date: The close of business of the last Business Day of the month preceding the month of the related Remittance Date.
 
REMIC: A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code.
 
REMIC Documents: The document or documents creating and governing the administration of a REMIC.
 
REMIC Eligible Mortgage Loan: A Mortgage Loan held by a REMIC which satisfies and/or complies with all applicable REMIC Provisions.
 
REMIC Provisions: Provisions of the federal income tax law relating to a REMIC, which appear at Section 860A through 86OG of Subchapter M of Chapter 1, Subtitle A of the Code, and related provisions, and regulations, rulings or pronouncements promulgated thereunder, as the foregoing may be in effect from time to time.
 
Remittance Date: The 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of any month, beginning with the First Remittance Date.
 
REO Disposition: The final sale by the Company of any REO Property.
 
REO Disposition Proceeds: All amounts received with respect to an REO Disposition pursuant to Section 4.16.
 
REO Property: A Mortgaged Property acquired by the Company on behalf of the Purchasers through foreclosure or by deed in lieu of foreclosure, as described in Section 4.16.
 
Repurchase Price: With respect to any Mortgage Loan, a price equal to (i) the Stated Principal Balance of the Mortgage Loan plus (ii) interest on such Stated Principal Balance at the Mortgage Loan Remittance Rate from the date on which interest has last been paid and distributed to the Purchaser to the date of repurchase, less amounts received or advanced in respect of such repurchased Mortgage Loan which are being held in the Custodial Account for distribution in the month of repurchase.
 
SAIF: The Savings Association Insurance Fund, or any successor thereto.
 
Securities Act of 1933 or the 1933 Act: The Securities Act of 1933, as amended.
 
Servicing Advances: All customary, reasonable and necessary “out of pocket” costs and expenses other than Monthly Advances (including reasonable attorneys’ fees and disbursements) incurred in the performance by the Company of its servicing obligations, including, but not limited to, the cost of (a) the preservation, restoration and protection of the Mortgaged Property, (b) any enforcement or judicial proceedings, including without limitation, foreclosures, (c) the management and liquidation of any REO Property and (d) compliance with the obligations under Section 4.08.
 
Servicing Fee: With respect to each Mortgage Loan, the amount of the annual fee the Purchaser shall pay to the Company, which shall, for a period of one full month, be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan. Such fee shall be payable monthly, computed on the basis of the same principal amount and period respecting which any related interest payment on a Mortgage Loan is computed. The obligation of the Purchaser to pay the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 4.05) of such Monthly Payment collected by the Company, or as otherwise provided under Section 4.05.
 
Servicing Fee Rate: 0.25% per annum with respect to the period prior to the initial Interest Adjustment Date and, for the 5/1 7/1 and 10/1 ARM Loans 0.375% thereafter.
 
Servicing File: With respect to each Mortgage Loan, the file retained by the Company consisting of originals of all documents in the Mortgage File which are not delivered to the Custodian and copies of the Mortgage Loan Documents listed in Exhibit B the originals of which are delivered to the Custodian pursuant to Section 2.01.
 
Servicing Officer: Any officer of the Company involved in or responsible for, the administration and servicing of the Mortgage Loans whose name appears on a list of servicing officers furnished by the Company to the Purchaser upon request, as such list may from time to time be amended.
 
7/1 ARM Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is fixed for the first seven (7) years of the term of the related Mortgage Loan and which thereafter is converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except that the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment Date for the related Mortgage Loan.
 
Stated Principal Balance: As to each Mortgage Loan, (i) the principal balance of the Mortgage Loan at the related Cut-off Date after giving effect to payments of principal due on or before such date, whether or not received, minus (ii) all amounts previously distributed to the Purchaser with respect to the related Mortgage Loan representing payments or recoveries of principal or advances in lieu thereof.
 
Subservicer: Any Subservicer which is subservicing the Mortgage Loans pursuant to a Subservicing Agreement. Any subservicer shall meet the qualifications set forth in Section 4.01.
 
Subservicing Agreement: An agreement between the Company and a Subservicer for the servicing of the Mortgage Loans. 
 
10/1 ARM Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is fixed for the first ten (10) years of the term of the related Mortgage Loan and which thereafter is converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except that the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment Date for the related Mortgage Loan.
 
3/1 ARM Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is fixed for the first three (3) years of the term of the related Mortgage Loan and which thereafter is converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan.
 
Treasury Rate Mortgage Loan: Any individual Mortgage Loan purchased pursuant to this Agreement which contains a provision whereby the interest rate on such Mortgage Loan is adjusted based upon the weekly average yield on U.S. Treasury securities.
 
Underwriting Guidelines: The underwriting guidelines of the Company with respect to mortgage loans similar to the Mortgage Loans, attached hereto as Exhibit H.
 
UGI: United Guaranty Residential Insurance Company or any successor thereto.
 
ARTICLE II
 
CONVEYANCE OF MORTGAGE LOANS; POSSESSION OF MORTGAGE FILES;
BOOKS AND RECORDS; DELIVERY OF DOCUMENTS
 
Section 2.01  
Conveyance of Mortgage Loans; Possession of Mortgage Files; Maintenance of Servicing Files.
 
The Company, on each Closing Date, does hereby sell, transfer, assign, set over and convey to the Purchaser, without recourse, but subject to the terms of this Agreement, all the right, title and interest of the Company in and to the Mortgage Loans in the related Mortgage Loan Package, excluding the right to service the Mortgage Loans which the Company expressly retains. Pursuant to Section 2.03, the Company has delivered the Mortgage Loan Documents for each Mortgage Loan in the Mortgage Loan Package to the Custodian.
 
The contents of each Mortgage File not delivered to the Custodian are and shall be held in trust by the Company for the benefit of the Purchaser as the owner thereof. The Company shall maintain a Servicing File consisting of a copy of the contents of each Mortgage File and the originals of the documents in each Mortgage File not delivered to the Custodian. The possession of each Servicing File by the Company is at the will of the Purchaser for the sole purpose of servicing the related Mortgage Loan, and such retention and possession by the Company is in a custodial capacity only. Upon the sale of the Mortgage Loans the ownership of each Mortgage Note, the related Mortgage and the related Mortgage File and Servicing File shall vest immediately in the Purchaser, and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Company shall vest immediately in the Purchaser and shall be retained and maintained by the Company, in trust, at the will of the Purchaser and only in such custodial capacity. Each Servicing File shall be segregated from the other books and records of the Company and shall be marked appropriately to reflect clearly the sale of the related Mortgage Loan to the Purchaser. The Company shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Purchaser, unless such release is required as incidental to the Company’s servicing of the Mortgage Loans or is in connection with a repurchase of any Mortgage Loan pursuant to Section 3.03, 3.05, 3.07, or 6.02.
 
Section 2.02  
Books and Records; Transfers of Mortgage Loans.
 
From and after the sale of the Mortgage Loans to the Purchaser all rights arising out of the Mortgage Loans in a Mortgage Loan Package including but not limited to all funds received on or in connection with the Mortgage Loan, shall be received and held by the Company in trust for the benefit of the Purchaser as owner of the Mortgage Loans, and the Company shall retain record title to the related Mortgages for the sole purpose of facilitating the servicing and the supervision of the servicing of the Mortgage Loans.
 
The sale of each Mortgage Loan in a Mortgage Loan Package shall be reflected on the Company’s balance sheet and other financial statements as a sale of assets by the Company. The Company shall be responsible for maintaining, and shall maintain, a complete set of books and records for each Mortgage Loan which shall be marked clearly to reflect the ownership of each Mortgage Loan by the Purchaser. In particular, the Company shall maintain in its possession, available for inspection by the Purchaser, or its designee and shall deliver to the Purchaser upon demand, evidence of compliance with all federal, state and local laws, rules and regulations, and requirements of Fannie Mae or Freddie Mac, including but not limited to documentation as to the method used in determining the applicability of the provisions of the Flood Disaster Protection Act of 1973, as amended, to the Mortgaged Property, documentation evidencing insurance coverage and eligibility of any condominium project for approval by Fannie Mae and periodic inspection reports as required by Section 4.13. To the extent that original documents are not required for purposes of realization of Liquidation Proceeds or Insurance Proceeds, documents maintained by the Company may be in the form of microfilm or microfiche or such other reliable means of recreating original documents, including but not limited to, optical imagery techniques so long as the Company complies with the requirements of the Fannie Mae Selling and Servicing Guide, as amended from time to time.
 
The Company shall maintain with respect to each Mortgage Loan and shall make available for inspection by any Purchaser or its designee the related Servicing File during the time the Purchaser retains ownership of a Mortgage Loan and thereafter in accordance with applicable laws and regulations.
 
The Company shall keep at its servicing office books and records in which, subject to such reasonable regulations as it may prescribe, the Company shall note transfers of Mortgage Loans. No transfer of a Mortgage Loan may be made unless such transfer is in compliance with the terms hereof. For the purposes of this Agreement, the Company shall be under no obligation to deal with any person with respect to this agreement or the Mortgage Loans unless the books and records show such person as the owner of the Mortgage Loan. The Purchaser may, subject to the terms of this Agreement, sell and transfer one or more of the Mortgage Loans, provided, however, that (i) the transferee will not be deemed to be a Purchaser hereunder binding upon the Company unless such transferee shall agree in writing to be bound by the terms of this Agreement and an original counterpart of the instrument of transfer and an assignment and assumption of this Agreement in the form of Exhibit G hereto executed by the transferee shall have been delivered to the Company, and (ii) with respect to each Mortgage Loan Package, in no event shall there be more than five Persons at any given time having the status of “Purchaser” hereunder. The Purchaser also shall advise the Company of the transfer. Upon receipt of notice of the transfer, the Company shall mark its books and records to reflect the ownership of the Mortgage Loans of such assignee, and shall release the previous Purchaser from its obligations hereunder with respect to the Mortgage Loans sold or transferred. Purchaser shall not to transfer to any assignee any pool of Mortgage Loans with a aggregate outstanding principal balance of less than $10,000,000 without the consent of the Company; provided, however, if the Company fails to consent to the transfer of a pool of Mortgage Loans as contemplated in this sentence, Purchaser shall have the right to purchase the servicing rights associated with such Mortgage Loans at a price to mutually agreed to by Purchaser and Company, exercising good faith.
 
Section 2.03  
 Delivery of Documents.
 
On or before the date which is agreed upon by the Purchaser and the Company in the related Confirmation, the Company shall deliver and release to the Custodian those Mortgage Loan Documents as required by this Agreement with respect to each Mortgage Loan in the related Mortgage Loan Package a list of which is attached to the related Assignment and Conveyance.
 
On or prior to the related Closing Date, the Custodian shall certify its receipt of all such Mortgage Loan Documents required to be delivered pursuant to the Custodial Agreement, as evidenced by the Initial Certification of the Custodian in the form annexed to the Custodial Agreement. The Company shall be responsible for maintaining the Custodial Agreement for the benefit of the Purchaser. Purchaser shall pay all fees and expenses of the Custodian.
 
The Company shall forward to the Custodian original documents evidencing an assumption, modification, consolidation or extension of any Mortgage Loan entered into in accordance with Section 4.01 or 6.01 within one week of their execution, provided, however, that the Company shall provide the Custodian with a certified true copy of any such document submitted for recordation within one week of its execution, and shall provide the original of any document submitted for recordation or a copy of such document certified by the appropriate public recording office to be a true and complete copy of the original within 180 days of its submission for recordation.
 
In the event an Officer’s Certificate of the Company is delivered to the Custodian because of a delay caused by the public recording office in returning any recorded document, the Company shall deliver to the Custodian, within 180 days of the related Closing Date, an Officer’s Certificate which shall (i) identify the recorded document, (ii) state that the recorded document has not been delivered to the Custodian due solely to a delay caused by the public recording office, (iii) state the amount of time generally required by the applicable recording office to record and return a document submitted for recordation, and (iv) specify the date the applicable recorded document will be delivered to the Custodian. The Company shall be required to deliver to the Custodian the applicable recorded document by the date specified in (iv) above. An extension of the date specified in (iv) above may be requested from the Purchaser, which consent shall not be unreasonably withheld.
 
On or prior to the date which is three Business Days prior to the related Closing Date, the Company shall deliver to the Purchaser the related Mortgage Loan Schedule.
 
ARTICLE III
 
REPRESENTATIONS AND WARRANTIES;
REMEDIES AND BREACH
 
Section 3.01  
Company Representations and Warranties.
 
The Company represents and warrants to the Purchaser that as of each Closing Date:
 
(a)  Due Organization and Authority. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of New York and has all licenses necessary to carry on its business as now being conducted and is licensed, qualified and in good standing in each state where a Mortgaged Property is located if the laws of such state require licensing or qualification in order to conduct business of the type conducted by the Company, and in any event the Company is in compliance with the laws of any such state to the extent necessary to ensure the enforceability of the related Mortgage Loan and the servicing of such Mortgage Loan in accordance with the terms of this Agreement; the Company has the full corporate power and authority to execute and deliver this Agreement and to perform in accordance herewith; the execution, delivery and performance of this Agreement (including all instruments of transfer to be delivered pursuant to this Agreement) by the Company and the consummation of the transactions contemplated hereby have been duly and validly authorized; this Agreement evidences the valid, binding and enforceable obligation of the Company; and all requisite corporate action has been taken by the Company to make this Agreement valid and binding upon the Company in accordance with its terms;
 
(b)  Ordinary Course of Business. The consummation of the transactions contemplated by this Agreement are in the ordinary course of business of the Company, and the transfer, assignment and conveyance of the Mortgage Notes and the Mortgages by the Company pursuant to this Agreement are not subject to the bulk transfer or any similar statutory provisions in effect in any applicable jurisdiction;
 
(c)  No Conflicts. Neither the execution and delivery of this Agreement, the acquisition of the Mortgage Loans by the Company, the sale of the Mortgage Loans to the Purchaser or the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement, will conflict with or result in a breach of any of the terms, conditions or provisions of the Company’s charter or by-laws or any legal restriction or any agreement or instrument to which the Company is now a party or by which it is bound, or constitute a default or result in an acceleration under any of the foregoing, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Company or its property is subject, or impair the ability of the Purchaser to realize on the Mortgage Loans, or impair the value of the Mortgage Loans;
 
(d)  Ability to Service. The Company is an approved seller/servicer of conventional residential mortgage loans for Fannie Mae or Freddie Mac, with the facilities, procedures, and experienced personnel necessary for the sound servicing of mortgage loans of the same type as the Mortgage Loans. The Company is in good standing to sell mortgage loans to and service mortgage loans for Fannie Mae or Freddie Mac, and no event has occurred, including but not limited to a change in insurance coverage, which would make the Company unable to comply with Fannie Mae or Freddie Mac eligibility requirements or which would require notification to either Fannie Mae or Freddie Mac;
 
(e)  Reasonable Servicing Fee. The Company acknowledges and agrees that the Servicing Fee, as calculated at the Servicing Fee Rate, represents reasonable compensation for performing such services and that the entire Servicing Fee shall be treated by the Company, for accounting and tax purposes, as compensation for the servicing and administration of the Mortgage Loans pursuant to this Agreement.
 
(f)  Ability to Perform. The Company does not believe, nor does it have any reason or cause to believe, that it cannot perform each and every covenant contained in this Agreement. The Company is solvent and the sale of the Mortgage Loans is not undertaken to hinder, delay or defraud any of the Company’s creditors;
 
(g)  No Litigation Pending. There is no action, suit, proceeding or investigation pending or to the best of the Company’s knowledge threatened against the Company which, either in any one instance or in the aggregate, may result in any material adverse change in the business, operations, financial condition, properties or assets of the Company, or in any material impairment of the right or ability of the Company to carry on its business substantially as now conducted, or in any material liability on the part of the Company, or which would draw into question the validity of this Agreement or the Mortgage Loans or of any action taken or to be taken in connection with the obligations of the Company contemplated herein, or which would be likely to impair materially the ability of the Company to perform under the terms of this Agreement;
 
(h)  No Consent Required. No consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and performance by the Company of or compliance by the Company with this Agreement or the sale of the Mortgage Loans as evidenced by the consummation of the transactions contemplated by this Agreement, or if required, such approval has been obtained prior to the related Closing Date;
 
(i)  Selection Process. The Mortgage Loans were selected from among the adjustable rate one- to four-family mortgage loans in the Company’s portfolio at the related Closing Date as to which the representations and warranties set forth in Section 3.02 could be made and such selection was not made in a manner so as to affect adversely the interests of the Purchaser;
 
(j)  Pool Characteristics. With respect to each Mortgage Loan Package, the Mortgage Loan characteristics set forth on Exhibit 2 to the related Assignment and Conveyance are true and complete.
 
(k)  No Untrue Information. Neither this Agreement nor any statement, report or other document furnished or to be furnished pursuant to this Agreement or in connection with the transactions contemplated hereby contains any untrue statement of fact or omits to state a fact necessary to make the statements contained therein not misleading;
 
(l)  Sale Treatment. The Company has determined that the disposition of the Mortgage Loans pursuant to this Agreement will be afforded sale treatment for accounting and tax purposes;
 
(m)  Financial Statements. There has been no change in the business, operations, financial condition, properties or assets of the Company since the date of the Company’s most recent financial statements that would have a material adverse effect on its ability to perform its obligations under this Agreement;
 
(n)  No Brokers’ Fees. The Company has not dealt with any broker, investment banker, agent or other person that may be entitled to any commission or compensation in connection with the sale of the Mortgage Loans;
 
(o)  Origination. The Company’s decision to originate any mortgage loan or to deny any mortgage loan application is an independent decision based upon Company’s Underwriting Guidelines, and is in no way made as a result of Purchaser’s decision to purchase, or not to purchase, or the price Purchaser may offer to pay for, any such mortgage loan, if originated; and
 
(p)  MERS. The Company 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 MERS Mortgage Loans for as long as such Mortgage Loans are registered with MERS;
 
Section 3.02  
Representations and Warranties Regarding Individual Mortgage Loans.
 
As to each Mortgage Loan, the Company hereby represents and warrants to the Purchaser that as of the related Closing Date:
 
(a)  Mortgage Loans as Described. The information set forth in each Mortgage Loan Schedule is complete, true and correct in all material respects;
 
(b)  Payments Current. All payments required to be made up to the related Closing Date for the Mortgage Loan under the terms of the Mortgage Note have been made and credited. No payment required under the Mortgage Loan has been more than 30 days delinquent at any time in the twelve months prior to the related Closing Date. The first Monthly Payment shall be made with respect to the Mortgage Loan on its Due Date or within the grace period, all in accordance with the terms of the related Mortgage Note;
 
(c)  No Outstanding Charges. There are no defaults in complying with the terms of the Mortgages, and all taxes, governmental assessments, insurance premiums, water, sewer and municipal charges, leasehold payments or ground rents which previously became due and owing have been paid, or an escrow of funds has been established in an amount sufficient to pay for every such item which remains unpaid and which has been assessed but is not yet due and payable. The Company has not advanced funds, or induced, solicited or knowingly received any advance of funds by a party other than the Mortgagor, directly or indirectly, for the payment of any amount required under the Mortgage Loan, except for interest accruing from the date of the Mortgage Note or date of disbursement of the Mortgage Loan proceeds, whichever is greater, to the day which precedes by one month the Due Date of the first installment of principal and interest;
 
(d)  Original Terms Unmodified. The terms of the Mortgage Note and Mortgage have not been impaired, waived, altered or modified in any respect, except by a written instrument which has been recorded, if necessary to protect the interests of the Purchaser and which has been delivered to the Custodian. The substance of any such waiver, alteration or modification has been approved by the issuer of any related PMI Policy and the title insurer, to the extent required by the policy, and its terms are reflected on the related Mortgage Loan Schedule. No Mortgagor has been released, in whole or in part, except in connection with an assumption agreement approved by the issuer of any related PMI Policy and the title insurer, to the extent required by the policy, and which assumption agreement is part of the Mortgage Loan File delivered to the Custodian and the terms of which are reflected in the related Mortgage Loan Schedule;
 
(e)  No Defenses. The Mortgage Loan is not subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, nor will the operation of any of the terms of the Mortgage Note or the Mortgage, or the exercise of any right thereunder, render either the Mortgage Note or the Mortgage unenforceable, in whole or in part, or subject to any right of rescission, set-off, counterclaim or defense, including without limitation the defense of usury, and no such right of rescission, set-off, counterclaim or defense has been asserted with respect thereto, and no Mortgagor was a debtor in any state or federal bankruptcy or insolvency proceeding at the time the Mortgage Loan was originated;
 
(f)  Hazard Insurance. Pursuant to the terms of the Mortgage, all buildings or other improvements upon the Mortgaged Property are insured by a generally acceptable insurer against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located pursuant to insurance policies conforming to the requirements of Section 4.10. If upon origination of the Mortgage Loan, the Mortgaged Property was in an area identified in the Federal Register by the Federal Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Flood Insurance Administration is in effect which policy conforms to the requirements of Section 4.10. All individual insurance policies contain a standard mortgagee clause naming the Company and its successors and assigns as mortgagee, and all premiums thereon have been paid. The Mortgage obligates the Mortgagor thereunder to maintain the hazard insurance policy at the Mortgagor’s cost and expense, and on the Mortgagor’s failure to do so, authorizes the holder of the Mortgage to obtain and maintain such insurance at such Mortgagor’s cost and expense, and to seek reimbursement therefor from the Mortgagor. Where required by state law or regulation, the Mortgagor has been given an opportunity to choose the carrier of the required hazard insurance, provided the policy is not a “master” or “blanket” hazard insurance policy covering the common facilities of a planned unit development. The hazard insurance policy is the valid and binding obligation of the insurer, is in full force and effect, and will be in full force and effect and inure to the benefit of the Purchaser upon the consummation of the transactions contemplated by this Agreement. The Company has not engaged in, and has no knowledge of the Mortgagor’s or any Subservicer’s having engaged in, any act or omission which would impair the coverage of any such policy, the benefits of the endorsement provided for herein, or the validity and binding effect of either, including without limitation, no unlawful fee, unlawful commission, unlawful kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Company;
 
(g)  Compliance with Applicable Laws. Any and all requirements of any federal, state or local law including, without limitation, usury, truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity or disclosure laws applicable to the Mortgage Loan have been complied with, and the Company shall maintain in its possession, available for the Purchaser’s inspection, and shall deliver to the Purchaser upon demand, evidence of compliance with all such requirements;
 
(h)  No Satisfaction of Mortgage. The Mortgage has not been satisfied, canceled, subordinated or rescinded, in whole or in part, and the Mortgaged Property has not been released from the lien of the Mortgage, in whole or in part, nor has any instrument been executed that would effect any such release, cancellation, subordination or rescission. The Company has not waived the performance by the Mortgagor of any action, if the Mortgagor’s failure to perform such action would cause the Mortgage Loan to be in default, nor has the Company waived any default resulting from any action or inaction by the Mortgagor;
 
(i)  Location and Type of Mortgaged Property. The Mortgaged Property is a fee simple property located in the state identified in the related Mortgage Loan Schedule and consists of a parcel of real property with a detached single family residence erected thereon, or an individual condominium unit in a low-rise condominium project, or an individual unit in a planned unit development, provided, however, that any condominium project or planned unit development shall conform with the Company’s Underwriting Guidelines regarding such dwellings, and no residence or dwelling is a mobile home or a manufactured dwelling. No portion of the Mortgaged Property is used for commercial purposes;
 
(j)  Valid First Lien. The Mortgage is a valid, subsisting, enforceable and perfected first lien on the Mortgaged Property, including all buildings and improvements on the Mortgaged Property, and all additions, alterations and replacements made at any time with respect to the foregoing. The lien of the Mortgage is subject only to:
 
(1)  the lien of current real property taxes and assessments not yet due and payable;
 
(2)  covenants, conditions and restrictions, rights of way, easements and other matters of the public record as of the date of recording acceptable to mortgage lending institutions generally and specifically referred to in the lender’s title insurance policy delivered to the originator of the Mortgage Loan and (i) referred to or to otherwise considered in the appraisal made for the originator of the Mortgage Loan or (ii) which do not adversely affect the Appraised Value of the Mortgaged Property set forth in such appraisal; and
 
(3)  other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by the mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property.
 
Any security agreement, chattel mortgage or equivalent document related to and delivered in connection with the Mortgage Loan establishes and creates a valid, subsisting and enforceable first lien and first priority security interest on the property described therein and the Company has full right to sell and assign the same to the Purchaser. The Mortgaged Property was not, as of the date of origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed to secured debt or other security instrument creating a lien subordinate to the lien of the Mortgage;
 
(k)  Validity of Mortgage Documents. The Mortgage Note and the Mortgage are genuine, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms. All parties to the Mortgage Note and the Mortgage and any other related agreement had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage and any other related agreement, and the Mortgage Note and the Mortgage have been duly and properly executed by such parties. No fraud was committed by the Company, or to the Company's knowledge by any other person including the Mortgagor, in connection with the origination or servicing of the Mortgage Loan. The Company has reviewed all of the documents constituting the Servicing File and has made such inquiries as it deems necessary to make and confirm the accuracy of the representations set forth herein;
 
(l)  Full Disbursement of Proceeds. The Mortgage Loan has been closed and the proceeds of the Mortgage Loan have been fully disbursed and there is no requirement for future advances thereunder, and any and all requirements as to completion of any on-site or off-site improvement and as to disbursements of any escrow funds therefor have been complied with. All costs, fees and expenses incurred in making or closing the Mortgage Loan and the recording of the Mortgage were paid, and the Mortgagor is not entitled to any refund of any amounts paid or due under the Mortgage Note or Mortgage;
 
(m)  Ownership. The Company is the sole owner of record and holder of the Mortgage Loan. The Mortgage Loan is not assigned or pledged, and the Company has good and marketable title thereto, and has full right to transfer and sell the Mortgage Loan therein to the Purchaser free and clear of any encumbrance, equity, participation interest, lien, pledge, charge, claim or security interest, and has full right and authority subject to no interest or participation of, or agreement with, any other party, to sell and assign each Mortgage Loan pursuant to this Agreement;
 
(n)  Doing Business. All parties which have had any interest in the Mortgage Loan, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (1) in compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (2) organized under the laws of such state, or (3) qualified to do business in such state, or (4) federal savings and loan associations or national banks having principal offices in such state, or (5) not doing business in such state;
 
(o)  LTV, PMI Policy. Any Mortgage Loan with an LTV over 80% has a PMI Policy insuring, as to payment defaults, the excess LTV over 71% (or such other percentage as stated in the related Confirmation) of the Appraised Value until the LTV of such Mortgage Loan is reduced to 80%. All provisions of such PMI Policy have been and are being complied with, such policy is in full force and effect, and all premiums due thereunder have been paid. No action, inaction, or event has occurred and no state of facts exists that has, or will result in the exclusion from, denial of, or defense to coverage. Any Mortgage Loan subject to a PMI Policy obligates the Mortgagor thereunder to maintain the PMI Policy and to pay all premiums and charges in connection therewith; provided, that, with respect to LPMI Loans, the Company is obligated thereunder to maintain the LPMI Policy and to pay all premiums and charges in connection therewith. The Mortgage Interest Rate for the Mortgage Loan as set forth on the Mortgage Loan Schedule is net of any insurance premium excluded any premium for the LPMI Policy;
 
(p)  Title Insurance. The Mortgage Loan is covered by either (i) an attorney’s opinion of title and abstract of title the form and substance of which is acceptable to mortgage lending institutions making mortgage loans in the area where the Mortgaged Property is located or (ii) an ALTA lender’s title insurance policy or other generally acceptable form of policy of insurance acceptable to Fannie Mae or Freddie Mac, issued by a title insurer acceptable to Fannie Mae or Freddie Mac and qualified to do business in the jurisdiction where the Mortgaged Property is located, insuring the Company, its successors and assigns, as to the first priority lien of the Mortgage in the original principal amount of the Mortgage Loan (or to the extent that a Mortgage Note provides for negative amortization, the maximum amount of negative amortization in accordance with the Mortgage), and against any loss by reason of the invalidity or unenforceability of the lien resulting from the provisions of the Mortgage providing for adjustment in the Mortgage Interest Rate and Monthly Payment, subject only to the exceptions contained in clauses (1), (2) and (3) of paragraph (j) of this Section 3.02. Where required by state law or regulation, the Mortgagor has been given the opportunity to choose the carrier of the required mortgage title insurance. Additionally, such lender’s title insurance policy affirmatively insures ingress and egress, and against encroachments by or upon the Mortgaged Property or any interest therein. The Company is the sole insured of such lender’s title insurance policy, and such lender’s title insurance policy is in full force and effect and will be in force and effect upon the consummation of the transactions contemplated by this Agreement. No claims have been made under such lender’s title insurance policy, and no prior holder of the Mortgage, including the Company, has done, by act or omission, anything which would impair the coverage of such lender’s title insurance policy including without limitation, no unlawful fee, commission, kickback or other unlawful compensation or value of any kind has been or will be received, retained or realized by any attorney, firm or other person or entity, and no such unlawful items have been received, retained or realized by the Company;
 
(q)  No Defaults. There is no default, breach, violation or event of acceleration existing under the Mortgage or the Mortgage Note and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event of acceleration, and neither the Company nor its predecessors have waived any default, breach, violation or event of acceleration;
 
(r)  No Mechanics’ Liens. There are no mechanics’ or similar liens or claims which have been filed for work, labor or material (and no rights are outstanding that under the law could give rise to such liens) affecting the related Mortgaged Property which are or may be liens prior to, or equal or coordinate with, the lien of the related Mortgage;
 
(s)  Location of Improvements; No Encroachments. All improvements which were considered in determining the Appraised Value of the Mortgaged Property lay wholly within the boundaries and building restriction lines of the Mortgaged Property and no improvements on adjoining properties encroach upon the Mortgaged Property. No improvement located on or being part of the Mortgaged Property is in violation of any applicable zoning law or regulation;
 
(t)  Origination; Payment Terms. The Mortgage Loan was originated by either i) the Company, which is a FNMA-approved, FHLMC-approved and HUD-approved mortgage banker, or ii) an entity that is a FNMA-approved, FHLMC-approved and HUD-approved mortgage banker, or a savings and loan association, a savings bank, a commercial bank or similar banking institution which is supervised and examined by a Federal or state authority. The interest rate on the related Mortgage Note is adjusted annually in the case of Treasury Rate Mortgage Loans and LIBOR Mortgage Loans on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin, subject to the Initial Rate Cap, Periodic Rate Cap and the Lifetime Mortgage Interest Rate Cap as set forth in the Mortgage Note. The Mortgage Interest Rate for a 5/1 ARM Mortgage Loan and a 3/1 ARM Mortgage Loan is adjusted annually commencing from and after the sixtieth Monthly Payment and the thirty-sixth Monthly Payment, respectively, in the same manner as a Treasury Rate Mortgage Loan and LIBOR Mortgage Loan, provided, however, that the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment Date for such 5/1 ARM Mortgage Loan (the Initial Rate Cap does apply). The Mortgage Note is payable each month in monthly installments of principal and interest, with interest in arrears, and requires Monthly Payments sufficient to amortize the original principal balance of the Mortgage Loan over a term of no more than 30 years. Each Convertible Mortgage Loan contains a provision whereby the Mortgagor is permitted to convert the Mortgage Loan to a fixed-rate mortgage loan at any time between the first and fifth anniversary of the origination of the Mortgage Loan. No Mortgage Loan has a provision for negative amortization;
 
(u)  Customary Provisions. The Mortgage contains customary and enforceable provisions such as to render the rights and remedies of the holder thereof adequate for the realization against the Mortgaged Property of the benefits of the security provided thereby, including, (i) in the case of a Mortgage designated as a deed of trust, by trustee’s sale, and (ii) otherwise by judicial foreclosure. Upon default by a Mortgagor on a Mortgage Loan and foreclosure on, or trustee’s sale of, the Mortgaged Property pursuant to the proper procedures, the holder of the Mortgage Loan will be able to deliver good and merchantable title to the Mortgaged Property. There is no homestead or other exemption available to a Mortgagor which would interfere with the right to sell the Mortgaged Property at a trustee’s sale or the right to foreclose the Mortgage;
 
(v)  Conformance with Underwriting Guidelines. The Mortgage Loan was underwritten in accordance with the Company’s Underwriting Guidelines in effect at the time the Mortgage Loan was originated.;
 
(w)  Occupancy of the Mortgaged Property. As of the related Closing Date the Mortgaged Property is lawfully occupied under applicable law. All inspections, licenses and certificates required to be made or issued with respect to all occupied portions of the Mortgaged Property and, with respect to the use and occupancy of the same, including but not limited to certificates of occupancy and fire underwriting certificates, have been made or obtained from the appropriate authorities. The Mortgagor represented at the time of origination of the Mortgage Loan that the Mortgagor would occupy the Mortgaged Property as the Mortgagor’s primary residence;
 
(x)  No Additional Collateral. The Mortgage Note is not and has not been secured by any collateral except the lien of the corresponding Mortgage and the security interest of any applicable security agreement or chattel mortgage referred to in (j) above;
 
(y)  Deeds of Trust. In the event the Mortgage constitutes a deed of trust, a trustee, duly qualified under applicable law to serve as such, has been properly designated and currently so serves and is named in the Mortgage, and no fees or expenses are or will become payable by the Purchasers to the trustee under the deed of trust, except in connection with a trustee’s sale after default by the Mortgagor;
 
(z)  Acceptable Investment. The Company has no knowledge of any circumstances or conditions with respect to the Mortgage, the Mortgaged Property, the Mortgagor or the Mortgagor’s credit standing that can reasonably be expected to cause private institutional investors to regard the Mortgage Loan as an unacceptable investment, cause the Mortgage Loan to become delinquent, or adversely affect the value or marketability of the Mortgage Loan;
 
(aa)  Delivery of Mortgage Documents. The Mortgage Note, the Mortgage, the Assignment of Mortgage and any other documents required to be delivered for the Mortgage Loan by the Company under this Agreement as set forth in Exhibit C attached hereto have been delivered to the Custodian. The Company is in possession of a complete, true and accurate Mortgage File in compliance with Exhibit B, except for such documents the originals of which have been delivered to the Custodian;
 
(bb)  Condominiums/Planned Unit Developments. If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimus planned unit development) such condominium or planned unit development project meets Company’s Underwriting Guidelines with respect to such condominium or planned unit development;
 
(cc)  Transfer of Mortgage Loans. The Assignment of Mortgage is in recordable form and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located;
 
(dd)  Due on Sale. The Mortgage contains an enforceable provision for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan in the event that the Mortgaged Property is sold or transferred without the prior written consent of the Mortgagor thereunder;
 
(ee)  No Buydown Provisions; No Graduated Payments or Contingent Interests. The Mortgage Loan does not contain provisions pursuant to which Monthly Payments are paid or partially paid with funds deposited in any separate account established by the Company, the Mortgagor or anyone on behalf of the Mortgagor, or paid by any source other than the Mortgagor nor does it contain any other similar provisions currently in effect which may constitute a “buydown” provision. The Mortgage Loan is not a graduated payment mortgage loan and the Mortgage Loan does not have a shared appreciation or other contingent interest feature;
 
(ff)  Consolidation of Future Advances. Any future advances made prior to the related Cut-off Date have been consolidated with the outstanding principal amount secured by the Mortgage, and the secured principal amount, as consolidated, bears a single interest rate and single repayment term. The lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee’s consolidated interest or by other title evidence acceptable to Fannie Mae and Freddie Mac. The consolidated principal amount does not exceed the original principal amount of the Mortgage Loan;
 
(gg)  Mortgaged Property Undamaged. There is no proceeding pending or, to the best of the Company’s knowledge, threatened for the total or partial condemnation of the Mortgaged Property. The Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Mortgaged Property as security for the Mortgage Loan or the use for which the premises were intended; and
 
(hh)  Collection Practices; Escrow Deposits. The origination, servicing and collection practices used with respect to the Mortgage Loan have been in accordance with Accepted Servicing Practices, and have been in all respects in compliance with all applicable laws and regulations. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of the Company and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item which remains unpaid and which has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the Company have been capitalized under the Mortgage or the Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage Note. Any interest required to be paid pursuant to state and local law has been properly paid and credited;
 
(ii)  Appraisal. The Mortgage File contains an appraisal of the related Mortgage Property signed prior to the approval of the Mortgage Loan application by a qualified appraiser, duly appointed by the Company, who had no interest, direct or indirect in the Mortgaged Property or in any loan made on the security thereof; and whose compensation is not affected by the approval or disapproval of the Mortgage Loan, and the appraisal and appraiser both satisfy the requirements of Fannie Mae, Freddie Mac or Title XI of the Federal Institutions Reform, Recovery, and Enforcement Act of 1989 and the regulations promulgated thereunder, all as in effect on the date the Mortgage Loan was originated;
 
(jj)  Soldiers’ and Sailors’ Relief Act. The Mortgagor has not notified the Company, and the Company has no knowledge of any relief requested or allowed to the Mortgagor under the Soldiers’ and Sailors’ Civil Relief Act of 1940;
 
(kk)  Environmental Matters. The Mortgaged Property is free from any and all toxic or hazardous substances and there exists no violation of any local, state or federal environmental law, rule or regulation. To the best of the Company’s knowledge, there is no pending action or proceeding directly involving any Mortgaged Property of which the Company is aware in which compliance with any environmental law, rule or regulation is an issue; and to the best of the Company’s knowledge, nothing further remains to be done to satisfy in full all requirements of each such law, rule or regulation consisting a prerequisite to use and enjoyment of said property;
 
(ll)  No Construction Loans. No Mortgage Loan was made in connection with (i) the construction or rehabilitation of a Mortgaged Property or (ii) facilitating the trade-in or exchange of a Mortgaged Property;
 
(mm)  Insurance. The Company has caused or will cause to be performed any and all acts required to preserve the rights and remedies of the Purchaser in any insurance policies applicable to the Mortgage Loans including, without limitation, any necessary notifications of insurers, assignments of policies or interests therein, and establishments of coinsured, joint loss payee and mortgagee rights in favor of the Purchaser; No action, inaction, or event has occurred and no state of fact exists or has existed that has resulted or will result in the exclusion from, denial of, or defense to coverage under any applicable pool insurance policy, special hazard insurance policy, PMI Policy or bankruptcy bond, irrespective of the cause of such failure of coverage. In connection with the placement of any such insurance, no commission, fee, or other compensation has been or will be received by the Company or any designee of the Company or any corporation in which the Company or any officer, director, or employee had a financial interest at the time of placement of such insurance;
 
(nn)  Regarding the Mortgagor. The Mortgagor is one or more natural persons and/or trustees for an Illinois land trust or a trustee under a “living trust” and such “living trust” is in compliance with Fannie Mae guidelines for such trusts.
 
(oo)  Predatory Lending Regulations; High Cost Loans. None of the Mortgage Loans are classified as (a) “high cost” loans under the Home Ownership and Equity Protection Act of 1994 or (b) “high cost,” “threshold,” or “predatory” loans under any other applicable state, federal or local law.
 
(pp)  Simple Interest Mortgage Loans. None of the Mortgage Loans are simple interest Mortgage Loans.
 
(qq)   Single Premium Credit Life Insurance. None of the proceeds of the Mortgage Loan were used to finance single-premium credit life insurance policies.
 
(rr)  Tax Service Contract The Company has obtained a life of loan, transferable real estate Tax Service Contract on each Mortgage Loan and such contract is assignable without penalty, premium or cost to the Purchaser;
 
(ss)  Flood Certification Contract. The Company has obtained a life of loan, transferable flood certification contract with a Approved Flood Certification Provider for each Mortgage Loan and such contract is assignable without penalty, premium or cost to the Purchaser;
 
(tt)  FICO Scores. Each Mortgage Loan has a non-zero FICO score;
 
(uu)  Prepayment Fee. With respect to each Mortgage Loan that has a prepayment fee feature, each such prepayment fee is enforceable and will be enforced by the Company, and each prepayment penalty in permitted pursuant to federal, state and local law. No Mortgage Loan will impose a prepayment penalty for a term in excess of five years from the date such Mortgage Loan was originated. Except as otherwise set forth in the related Mortgage Loan Schedule, with respect to each Mortgage Loan that contains a prepayment fee, such prepayment fee is at least equal to the lesser of (A) the maximum amount permitted under applicable law and (B) six months interest at the related Mortgage Interest Rate on the amount prepaid in excess of 20% of the original principal balance of such Mortgage Loan; and
 
(vv)  Recordation. Each original Mortgage was recorded and, except for those Mortgage Loans subject to the MERS identification system, all subsequent assignments of the original Mortgage (other than the assignment to the Purchaser) have been recorded in the appropriate jurisdictions wherein such recordation is necessary to perfect the lien thereof as against creditors of the Company, or is in the process of being recorded;
 
(ww)  Leaseholds.If the Mortgaged Property is subject to a ground lease or any other type of leasehold interest, the ground lease or other leasehold interest exceeds the remaining term of the related Mortgage Loan.
 
Section 3.03  
Remedies for Breach of Representations and Warranties.
 
It is understood and agreed that the representations and warranties set forth in Sections 3.01 and 3.02 shall survive the sale of the Mortgage Loans to the Purchaser and the delivery of the Mortgage Loan Documents to the Custodian and shall inure to the benefit of the Purchaser, notwithstanding any restrictive or qualified endorsement on any Mortgage Note or Assignment of Mortgage or the examination or failure to examine any Mortgage File. Upon discovery by either the Company or the Purchaser of a breach of any of the foregoing representations and warranties which materially and adversely affects the value of the Mortgage Loans or the interest of the Purchaser, or which materially and adversely affects the interests of Purchaser in the related Mortgage Loan in the case of a representation and warranty relating to a particular Mortgage Loan (in the case of any of the foregoing, a “Breach”), the party discovering such Breach shall give prompt written notice to the other.
 
With respect to those representations and warranties which are made to the best of the Company’s knowledge, if it is discovered by the Company or the Purchaser that the substance of such representation and warranty is inaccurate and such inaccuracy materially and adversely affects the value of the related Mortgage Loan or the interest of the Purchaser (or which materially and adversely affects the value of a Mortgage Loan or the interests of the Purchaser in the related Mortgage Loan in the case of a representation and warranty relating to a particular Mortgage Loan), notwithstanding the Company’s lack of knowledge with respect to the substance of such representation and warranty, such inaccuracy shall be deemed a breach of the applicable representation and warranty.
 
Within 60 days of the earlier of either discovery by or notice to the Company of any Breach of a representation or warranty, the Company shall use its best efforts promptly to cure such Breach in all material respects and, if such Breach cannot be cured, the Company shall, at the Purchaser’s option and subject to Section 3.06, repurchase such Mortgage Loan at the Repurchase Price. In the event that a Breach shall involve any representation or warranty set forth in Section 3.01, and such Breach cannot be cured within 60 days of the earlier of either discovery by or notice to the Company of such Breach, all of the Mortgage Loans shall, at the Purchaser’s option and subject to Section 3.06, be repurchased by the Company at the Repurchase Price. However, if the Breach shall involve a representation or warranty set forth in Section 3.02 and the Company discovers or receives notice of any such Breach within 120 days of the related Closing Date, the Company shall, at the Purchaser’s option and provided that the Company has a Qualified Substitute Mortgage Loan, rather than repurchase the Mortgage Loan as provided above, remove such Mortgage Loan (a “Deleted Mortgage Loan”) and substitute in its place a Qualified Substitute Mortgage Loan or Loans, provided that any such substitution shall be effected not later than 120 days after the related Closing Date. If the Company has no Qualified Substitute Mortgage Loan, it shall repurchase the deficient Mortgage Loan. Any repurchase of a Mortgage Loan or Loans pursuant to the foregoing provisions of this Section 3.03 shall be accomplished by deposit in the Custodial Account of the amount of the Repurchase Price for distribution to Purchaser on the next scheduled Remittance Date, after deducting therefrom any amount received in respect of such repurchased Mortgage Loan or Loans and being held in the Custodial Account for future distribution.
 
At the time of repurchase or substitution, the Purchaser and the Company shall arrange for the reassignment of the Deleted Mortgage Loan to the Company and the delivery to the Company of any documents held by the Custodian relating to the Deleted Mortgage Loan. In the event of a repurchase or substitution, the Company shall, simultaneously with such reassignment, give written notice to the Purchaser that such repurchase or substitution has taken place, amend the related Mortgage Loan Schedule to reflect the withdrawal of the Deleted Mortgage Loan from this Agreement, and, in the case of substitution, identify a Qualified Substitute Mortgage Loan and amend the related Mortgage Loan Schedule to reflect the addition of such Qualified Substitute Mortgage Loan to this Agreement. In connection with any such substitution, the Company shall be deemed to have made as to such Qualified Substitute Mortgage Loan the representations and warranties set forth in this Agreement except that all such representations and warranties set forth in this Agreement shall be deemed made as of the date of such substitution. The Company shall effect such substitution by delivering to the Custodian for such Qualified Substitute Mortgage Loan the documents required by Section 2.03, with the Mortgage Note endorsed as required by Section 2.03. No substitution will be made in any calendar month after the Determination Date for such month. The Company shall deposit in the Custodial Account the Monthly Payment less the Servicing Fee due on such Qualified Substitute Mortgage Loan or Loans in the month following the date of such substitution. Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall be retained by the Company. For the month of substitution, distributions to Purchaser shall include the Monthly Payment due on any Deleted Mortgage Loan in the month of substitution, and the Company shall thereafter be entitled to retain all amounts subsequently received by the Company in respect of such Deleted Mortgage Loan.
 
For any month in which the Company substitutes a Qualified Substitute Mortgage Loan for a Deleted Mortgage Loan, the Company shall determine the amount (if any) by which the aggregate principal balance of all Qualified Substitute Mortgage Loans as of the date of substitution is less than the aggregate Stated Principal Balance of all Deleted Mortgage Loans (after application of scheduled principal payments due in the month of substitution). The amount of such shortfall shall be distributed by the Company in the month of substitution pursuant to Section 5.01. Accordingly, on the date of such substitution, the Company shall deposit from its own funds into the Custodial Account an amount equal to the amount of such shortfall.
 
Any cause of action against the Company relating to or arising out of the Breach of any representations and warranties made in Sections 3.01 and 3.02 shall accrue as to any Mortgage Loan upon (i) discovery of such Breach by the Purchaser or notice thereof by the Company to the Purchaser, (ii) failure by the Company to cure such Breach or repurchase such Mortgage Loan as specified above, and (iii) demand upon the Company by the Purchaser for compliance with this Agreement.
 
Section 3.04  
Indemnification.
 
The Company agrees to indemnify the Purchaser and hold it harmless from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related any assertion based on, grounded upon resulting from a Breach of any of the Company’s representations and warranties contained herein. In addition to the obligations of the Company set forth in this Section 3.04, the Purchaser may pursue any and all remedies otherwise available at law or in equity, including, but not limited to, the right to seek damages. The provisions of this Section 3.04 shall survive termination of this Agreement.
 
It is understood and agreed that the obligations of the Company set forth in Sections 3.03 and 3.04 to cure, substitute for or repurchase a defective Mortgage Loan and to indemnify the Purchaser constitute the sole remedies of the Purchaser respecting a Breach of the foregoing representations and warranties.
 
 
Section 3.05  
Repurchase Upon Conversion.

In the event the Mortgagor under any Convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company shall repurchase the related Mortgage Loan in the month the conversion takes place and in the manner prescribed in Section 3.04 at the Repurchase Price.
 
Section 3.06  
Restrictions and Requirements Applicable in the Event
 
that a Mortgage Loan is Acquired by a REMIC
 
In the event that any Mortgage Loan is held by a REMIC, notwithstanding any contrary provision of this Agreement, the following provisions shall be applicable to such Mortgage Loan:
 
(A)                  
Repurchase of Mortgage Loans.
 
With respect to any Mortgage Loan that is not in default or as to which no default is imminent, no repurchase or substitution pursuant to Subsection 3.03, 3.05, 3.07 or 7.02 shall be made, unless, if so required by the applicable REMIC Documents the Company has obtained an Opinion of Counsel to the effect that such repurchase will not (i) result in the imposition of taxes on “prohibited transactions” of such REMIC (as defined in Section 860F of the Code) or otherwise subject the REMIC to tax, or (ii) cause the REMIC to fail to qualify as a REMIC at any time.
 
(B)                   
General Servicing Obligations.
 
The Company shall sell any REO Property within two years after its acquisition by the REMIC unless (i) the Company applies for an extension of such two-year period from the Internal Revenue Service pursuant to the REMIC Provisions and Code Section 856(e)(3), in which event such REO Property shall be sold within the applicable extension period, or (ii) the Company obtains for the Purchaser an Opinion of Counsel, addressed to the Purchaser and the Company, to the effect that the holding by the REMIC of such REO Property subsequent to such two year period will not result in the imposition of taxes on “prohibited transactions” as defined in Section 860F of the Code or cause the REMIC to fail to qualify as a REMIC under the REMIC Provisions or comparable provisions of relevant state laws at any time. The Company shall manage, conserve, protect and operate each REO Property for the Purchaser solely for the purpose of its prompt disposition and sale in a manner which does not cause such REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) or result in the receipt by the REMIC of any “income from non-permitted assets” within the meaning of Section 860F(a)(2)(B) of the Code or any “net income from foreclosure property” which is subject to taxation under Section 860G(a)(1) of the Code. Pursuant to its efforts to sell such REO Property, the Company shall either itself or through an agent selected by the Company protect and conserve such REO Property in the same manner and to such extent as is customary in the locality where such REO Property is located and may, incident to its conservation and protection of the interests of the Purchaser, rent the same, or any part thereof, as the Company deems to be in the best interest of the Company and the Purchaser for the period prior to the sale of such REO Property; provided, however, that any rent received or accrued with respect to such REO Property qualifies as “rents from real property” as defined in Section 856(d) of the Code.
 
(C)                   
Additional Covenants.
 
In addition to the provision set forth in this Section 3.06, if a REMIC election is made with respect to the arrangement under which any of the Mortgage Loans or REO Properties are held, then, with respect to such Mortgage Loans and/or REO Properties, and notwithstanding the terms of this Agreement, the Company shall not take any action, cause the REMIC to take any action or fail to take (or fail to cause to be taken) any action that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger the status of the REMIC as a REMIC or (ii) result in the imposition of a tax upon the 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) unless the Company has received an Opinion of Counsel (at the expense of the party seeking to take such action) to the effect that the contemplated action will not endanger such REMIC status or result in the imposition of any such tax.
 
If a REMIC election is made with respect to the arrangement under which any Mortgage Loans or REO Properties are held, the Company shall amend this Agreement such that it will meet all Rating Agency requirements.
 
Section 3.07  
Review of Mortgage Loans
 
From the related Closing Date until the date 15 days after the related Closing Date, the Purchaser shall have the right to review the Mortgage Files and obtain BPOs and other property evaluations on the Mortgaged Properties relating to the Mortgage Loans purchased on the related Closing Date, with the results of such BPO or property evaluation reviews to be communicated to the Company for a period up to 15 days after the related Closing Date. In addition, the Purchaser shall have the right to reject any Mortgage Loan which in the Purchaser’s sole determination (i) fails to conform to the Underwriting Guidelines, (ii) the value of the Mortgaged Property pursuant to any BPO or property evaluation varies by more than plus or minus 15% from the lesser of (A) the original appraised value of the Mortgage Property or (B) the purchase price of the Mortgaged Property as of the date of origination (a “Value Issue”), (iii) the Mortgage Loan is underwritten without verification of the Borrower’s income and assets and there is no credit report and credit score or (iv) the Purchaser deems the Mortgage Loan not to be an acceptable credit risk. The Company shall repurchase the rejected Mortgage Loan in the manner prescribed in Section 3.03 upon receipt of notice from the Purchaser of the rejection of such Mortgage Loan; provided, that, in the event that the Purchaser rejects a Mortgage Loan due to a Value Issue, the Company may submit to the Purchaser an additional property evaluation for purposes of demonstrating that the Mortgage Loan does not have a Value Issue. If the Purchaser and the Company fail to resolve such Value Issue within two weeks of the Purchaser presenting such Value Issue to the Company, then Company shall have the right to promptly (a) substitute such Mortgage Loan with a Qualified Substitute Mortgage Loan meeting all the terms hereof, or (b) repurchase such Mortgage Loan in the manner prescribed in Section 3.03. Any rejected Mortgage Loan shall be removed from the terms of this Agreement. The Company shall make available all files required by Purchaser in order to complete its review, including capturing all CRA/HMDA required data fields. Any review performed by the Purchaser prior to the related Closing Date does not limit the Purchaser’s rights or the Company’s obligations under this section. To the extent that the Purchaser’s review discloses that the Mortgage Loans do not conform to the Underwriting Guidelines or the terms set forth in the Purchaser Price and Terms Letter, the Purchaser may in its sole discretion increase its due diligence review and obtain additional BPO’s or other property evaluations. The additional review may be for any reason including but not limited to credit quality, property valuations, and data integrity.
 
ARTICLE IV
 
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
 
Section 4.01  
Company to Act as Servicer.
 
The Company shall service and administer the Mortgage Loans and shall have full power and authority, acting alone, to do any and all things in connection with such servicing and administration which the Company may deem necessary or desirable, consistent with the terms of this Agreement and with Accepted Servicing Practices.
 
Consistent with the terms of this Agreement, the Company may 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 Company’s reasonable and prudent determination such waiver, modification, postponement or indulgence is not materially adverse to the Purchasers, provided, however, that the Company shall not make any future advances with respect to a Mortgage Loan and (unless the Mortgagor is in default with respect to the Mortgage Loan or such default is, in the judgment of the Company, imminent and the Company has obtained the prior written consent of the Purchaser) the Company shall not permit any modification of any material term of any Mortgage Loan including any modifications that would change the Mortgage Interest Rate change the Index, Lifetime Mortgage Interest Rate Cap, Initial Rate Cap or Gross Margin of any Mortgage Loan, defer or forgive the payment of principal or interest, reduce or increase the outstanding principal balance (except for actual payments of principal) or change the final maturity date on such Mortgage Loan. In the event of any such modification which permits the deferral of interest or principal payments on any Mortgage Loan, the Company shall, on the Business Day immediately preceding the Remittance Date in any month in which any such principal or interest payment has been deferred, deposit in the Custodial Account from its own funds, in accordance with Section 5.03, the difference between (a) such month’s principal and one month’s interest at the Mortgage Loan Remittance Rate on the unpaid principal balance of such Mortgage Loan and (b) the amount paid by the Mortgagor. The Company shall be entitled to reimbursement for such advances to the same extent as for all other advances made pursuant to Section 5.03. Without limiting the generality of the foregoing, the Company shall continue, and is hereby authorized and empowered, to execute and deliver on behalf of itself and the Purchasers, all instruments of satisfaction or cancellation, or of partial or full release, discharge and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties. If reasonably required by the Company, the Purchaser shall furnish the Company with any powers of attorney and other documents necessary or appropriate to enable the Company to carry out its servicing and administrative duties under this Agreement.
 
In servicing and administering the Mortgage Loans, the Company shall employ procedures (including collection procedures) and exercise the same care that it customarily employs and exercises in servicing and administering mortgage loans for its own account, giving due consideration to Accepted Servicing Practices where such practices do not conflict with the requirements of this Agreement, and the Purchaser’s reliance on the Company.
 
The Mortgage Loans may be subserviced by the Subservicer on behalf of the Company provided that the Subservicer is a Fannie Mae-approved lender or a Freddie Mac seller/servicer in good standing, and no event has occurred, including but not limited to a change in insurance coverage, which would make it unable to comply with the eligibility requirements for lenders imposed by Fannie Mae or for seller/servicers imposed by Freddie Mac, or which would require notification to Fannie Mae or Freddie Mac. The Company may perform any of its servicing responsibilities hereunder or may cause the Subservicer to perform any such servicing responsibilities on its behalf, but the use by the Company of the Subservicer shall not release the Company from any of its obligations hereunder and the Company shall remain responsible hereunder for all acts and omissions of the Subservicer as fully as if such acts and omissions were those of the Company. The Company shall pay all fees and expenses of the Subservicer from its own funds, and the Subservicer’s fee shall not exceed the Servicing Fee.
 
At the cost and expense of the Company, without any right of reimbursement from the Custodial Account, the Company shall be entitled to terminate the rights and responsibilities of the Subservicer and arrange for any servicing responsibilities to be performed by a successor Subservicer meeting the requirements in the preceding paragraph, provided, however, that nothing contained herein shall be deemed to prevent or prohibit the Company, at the Company’s option, from electing to service the related Mortgage Loans itself. In the event that the Company’s responsibilities and duties under this Agreement are terminated pursuant to Section 9.04, 10.01 or 11.02, and if requested to do so by the Purchaser, the Company shall at its own cost and expense terminate the rights and responsibilities of the Subservicer as soon as is reasonably possible. The Company shall pay all fees, expenses or penalties necessary in order to terminate the rights and responsibilities of the Subservicer from the Company’s own funds without reimbursement from the Purchaser.
 
Notwithstanding any of the provisions of this Agreement relating to agreements or arrangements between the Company and the Subservicer or any reference herein to actions taken through the Subservicer or otherwise, the Company shall not be relieved of its obligations to the Purchaser and shall be obligated to the same extent and under the same terms and conditions as if it alone were servicing and administering the Mortgage Loans. The Company shall be entitled to enter into an agreement with the Subservicer for indemnification of the Company by the Subservicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification.
 
Any Subservicing Agreement and any other transactions or services relating to the Mortgage Loans involving the Subservicer shall be deemed to be between the Subservicer and Company alone, and the Purchaser shall have no obligations, duties or liabilities with respect to the Subservicer including no obligation, duty or liability of Purchaser to pay the Subservicer’s fees and expenses. For purposes of distributions and advances by the Company pursuant to this Agreement, the Company shall be deemed to have received a payment on a Mortgage Loan when the Subservicer has received such payment.
 
Section 4.02  
Liquidation of Mortgage Loans.
 
In the event that any payment due under any Mortgage Loan and not postponed pursuant to Section 4.01 is not paid when the same becomes due and payable, or in the event the Mortgagor fails to perform any other covenant or obligation under the Mortgage Loan and such failure continues beyond any applicable grace period, the Company shall take such action as (1) the Company would take under similar circumstances with respect to a similar mortgage loan held for its own account for investment, (2) shall be consistent with Accepted Servicing Practices, (3) the Company shall determine prudently to be in the best interest of Purchaser, and (4) is consistent with any related PMI Policy. In the event that any payment due under any Mortgage Loan is not postponed pursuant to Section 4.01 and remains delinquent for a period of 90 days or any other default continues for a period of 90 days beyond the expiration of any grace or cure period, the Company shall commence foreclosure proceedings, provided that, prior to commencing foreclosure proceedings, the Company shall notify the Purchaser in writing of the Company’s intention to do so, and the Company shall not commence foreclosure proceedings if the Purchaser objects to such action within 10 Business Days of receiving such notice. In the event the Purchaser objects to such foreclosure action, the Company shall not be required to make Monthly Advances with respect to such Mortgage Loan, pursuant to Section 5.03, and the Company’s obligation to make such Monthly Advances shall terminate on the 90th day referred to above. In such connection, the Company shall from its own funds make all necessary and proper Servicing Advances, provided, however, that the Company shall not be required to expend its own funds in connection with any foreclosure or towards the restoration or preservation of any Mortgaged Property, unless it shall determine (a) that such preservation, restoration and/or foreclosure will increase the proceeds of liquidation of the Mortgage Loan to Purchaser after reimbursement to itself for such expenses and (b) that such expenses will be recoverable by it either through Liquidation Proceeds (respecting which it shall have priority for purposes of withdrawals from the Custodial Account pursuant to Section 4.05) or through Insurance Proceeds (respecting which it shall have similar priority).
 
Notwithstanding anything to the contrary contained herein, in connection with a foreclosure or acceptance of a deed in lieu of foreclosure, in the event the Company has reasonable cause to believe that a Mortgaged Property is contaminated by hazardous or toxic substances or wastes, or if the Purchaser otherwise requests an environmental inspection or review of such Mortgaged Property to be conducted by a qualified inspector. Upon completion of the inspection, the Company shall promptly provide the Purchaser with a written report of the environmental inspection.
 
After reviewing the environmental inspection report, the Purchaser shall determine how the Company shall proceed with respect to the Mortgaged Property. In the event (a) the environmental inspection report indicates that the Mortgaged Property is contaminated by hazardous or toxic substances or wastes and (b) the Purchaser directs the Company to proceed with foreclosure or acceptance of a deed in lieu of foreclosure, the Company shall be reimbursed for all costs associated with such foreclosure or acceptance of a deed in lieu of foreclosure and any related environmental clean up costs, as applicable, from the related Liquidation Proceeds, or if the Liquidation Proceeds are insufficient to fully reimburse the Company, the Company shall be entitled to be reimbursed from amounts in the Custodial Account pursuant to Section 4.05 hereof. In the event the Purchaser directs the Company not to proceed with foreclosure or acceptance of a deed in lieu of foreclosure, the Company shall be reimbursed for all Servicing Advances made with respect to the related Mortgaged Property from the Custodial Account pursuant to Section 4.05 hereof.
 
Section 4.03  
Collection of Mortgage Loan Payments.
 
Continuously from the date hereof until the principal and interest on all Mortgage Loans are paid in full, the Company shall proceed diligently to collect all payments due under each of the Mortgage Loans when the same shall become due and payable and shall take special care in ascertaining and estimating Escrow Payments and all other charges that will become due and payable with respect to the Mortgage Loan and the Mortgaged Property, to the end that the installments payable by the Mortgagors will be sufficient to pay such charges as and when they become due and payable.
 
Section 4.04  
Establishment of and Deposits to Custodial Account.
 
The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Countrywide Home Loans, Inc. in trust for EMC Mortgage Corporation, as purchaser of Residential Adjustable Rate Mortgage Loans and various Mortgagors”. The Custodial Account shall be established with a Qualified Depository acceptable to the Purchaser. Any funds deposited in the Custodial Account shall at all times be fully insured to the full extent permitted under applicable law. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a certification in the form of Exhibit D-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit D-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification or letter agreement shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser.
 
The Company shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Company and payments made by the Company after the related Cut-off Date, (other than payments of principal and interest due on or before the related Cut-off Date, or received by the Company prior to the related Cut-off Date but allocable to a period subsequent thereto or with respect to each LPMI Loan, in the amount of the LPMI Fee):
 
(i)  all payments on account of principal on the Mortgage Loans, including all Principal Prepayments;
 
(ii)  all payments on account of interest on the Mortgage Loans adjusted to the Mortgage Loan Remittance Rate;
 
(iii)  all Liquidation Proceeds;
 
(iv)  all Insurance Proceeds including amounts required to be deposited pursuant to Section 4.10, Section 4.11, Section 4.14 and Section 4.15;
 
(v)  all Condemnation Proceeds which are not applied to the restoration or repair of the Mortgaged Property or released to the Mortgagor in accordance with Section 4.14;
 
(vi)  any amount required to be deposited in the Custodial Account pursuant to Section 4.01, 4.09, 5.03, 6.01 or 6.02;
 
(vii)  any amounts payable in connection with the repurchase of any Mortgage Loan pursuant to Section 3.03, 3.05 or 3.07 and all amounts required to be deposited by the Company in connection with a shortfall in principal amount of any Qualified Substitute Mortgage Loan pursuant to Section 3.03;
 
(viii)  with respect to each Principal Prepayment in full or in part, the Prepayment Interest Shortfall Amount, if any, for the month of distribution. Such deposit shall be made from the Company’s own funds, without reimbursement therefor up to a maximum amount per month of the Servicing Fee actually received for such month for the Mortgage Loans;
 
(ix)  any amounts required to be deposited by the Company pursuant to Section 4.11 in connection with the deductible clause in any blanket hazard insurance policy; and
 
(x)  any amounts received with respect to or related to any REO Property and all REO Disposition Proceeds pursuant to Section 4.16.
 
The foregoing requirements for deposit into the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 6.01, need not be deposited by the Company into the Custodial Account. Any interest paid on funds deposited in the Custodial Account by the depository institution shall accrue to the benefit of the Company and the Company shall be entitled to retain and withdraw such interest from the Custodial Account pursuant to Section 4.05.
 
Section 4.05  
Permitted Withdrawals From Custodial Account.
 
The Company shall, from time to time, withdraw funds from the Custodial Account for the following purposes:
 
(i)  to make payments to the Purchaser in the amounts and in the manner provided for in Section 5.01;
 
(ii)  to reimburse itself for Monthly Advances of the Company’s funds made pursuant to Section 5.03, the Company’s right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made, it being understood that, in the case of any such reimbursement, the Company’s right thereto shall be prior to the rights of Purchaser, except that, where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03, 3.05, 3.07 or 6.02, the Company’s right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan;
 
(iii)  to reimburse itself for unreimbursed Servicing Advances, and for any unpaid Servicing Fees, the Company’s right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Company from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Company’s right thereto shall be prior to the rights of Purchaser except where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03, 3.05, 3.07 or 6.02, in which case the Company’s right to such reimbursement shall be subsequent to the payment to the Purchasers of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchasers with respect to such Mortgage Loan;
 
(iv)  to pay itself interest on funds deposited in the Custodial Account;
 
(v)  to reimburse itself for expenses incurred and reimbursable to it pursuant to Section 9.01;
 
(vi)  to pay any amount required to be paid pursuant to Section 4.16 related to any REO Property, it being understood that in the case of any such expenditure or withdrawal related to a particular REO Property, the amount of such expenditure or withdrawal from the Custodial Account shall be limited to amounts on deposit in the Custodial Account with respect to the related REO Property;
 
(vii)  to clear and terminate the Custodial Account upon the termination of this Agreement; and
 
(viii)  to withdraw funds deposited in error.
 
In the event that the Custodial Account is interest bearing, on each Remittance Date, the Company shall withdraw all funds from the Custodial Account except for those amounts which, pursuant to Section 5.01, the Company is not obligated to remit on such Remittance Date. The Company may use such withdrawn funds only for the purposes described in this Section 4.05.
 
Section 4.06  
Establishment of and Deposits to Escrow Account.
 
The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan constituting Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts, titled, “Countrywide Home Loans, Inc., in trust for the EMC Mortgage Corporation, as purchaser of Residential Adjustable Rate Mortgage Loans and various Mortgagors”. The Escrow Accounts shall be established with a Qualified Depository, in a manner which shall provide maximum available insurance thereunder. Funds deposited in the Escrow Account may be drawn on by the Company in accordance with Section 4.07. The creation of any Escrow Account shall be evidenced by a certification in the form of Exhibit E-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit E-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser.
 
The Company shall deposit in the Escrow Account or Accounts within two Business Days of receipt, and retain therein:
 
(i)  all Escrow Payments collected on account of the Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement; and
 
(ii)  all amounts representing Insurance Proceeds or Condemnation Proceeds which are to be applied to the restoration or repair of any Mortgaged Property.
 
The Company shall make withdrawals from the Escrow Account only to effect such payments as are required under this Agreement, as set forth in Section 4.07. The Company shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution, other than interest on escrowed funds required by law to be paid to the Mortgagor. To the extent required by law, the Company shall pay interest on escrowed funds to the Mortgagor notwithstanding that the Escrow Account may be non-interest bearing or that interest paid thereon is insufficient for such purposes.
 
Section 4.07  
Permitted Withdrawals From Escrow Account.
 
Withdrawals from the Escrow Account or Accounts may be made by the Company only:
 
(i)  to effect timely payments of ground rents, taxes, assessments, water rates, mortgage insurance premiums, condominium charges, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage;
 
(ii)  to reimburse the Company for any Servicing Advances made by the Company pursuant to Section 4.08 with respect to a related Mortgage Loan, but only from amounts received on the related Mortgage Loan which represent late collections of Escrow Payments thereunder;
 
(iii)  to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan;
 
(iv)  for transfer to the Custodial Account and application to reduce the principal balance of the Mortgage Loan in accordance with the terms of the related Mortgage and Mortgage Note;
 
(v)  for application to restoration or repair of the Mortgaged Property in accordance with the procedures outlined in Section 4.14;
 
(vi)  to pay to the Company, or any Mortgagor to the extent required by law, any interest paid on the funds deposited in the Escrow Account;
 
(vii)  to clear and terminate the Escrow Account on the termination of this Agreement; and
 
(viii)  to withdraw funds deposited in error.
 
Section 4.08  
Payment of Taxes, Insurance and Other Charges.
 
With respect to each Mortgage Loan, the Company shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates, sewer rents, and other charges which are or may become a lien upon the Mortgaged Property and the status of PMI Policy premiums and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Company in amounts sufficient for such purposes, as allowed under the terms of the Mortgage. To the extent that a Mortgage does not provide for Escrow Payments, the Company shall determine that any such payments are made by the Mortgagor at the time they first become due. The Company assumes full responsibility for the timely payment of all such bills and shall effect timely payment of all such charges irrespective of each Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments, and the Company shall make advances from its own funds to effect such payments.
 
Section 4.09  
Protection of Accounts.
 
The Company may transfer the Custodial Account or the Escrow Account to a different Qualified Depository from time to time. Upon any such transfer, the Company shall promptly notify the Purchaser and deliver to the Purchaser a Custodial Account Certification or Escrow Account Certification (as applicable) in the form of Exhibit D-1 or E-1 to this agreement.
 
The Company shall bear any expenses, losses or damages sustained by the Purchaser because the Custodial Account and/or the Escrow Account are not demand deposit accounts.
 
Amounts on deposit in the Custodial Account and the Escrow Account may at the option of the Company be invested in Eligible Investments; provided that in the event that amounts on deposit in the Custodial Account or the Escrow Account exceed the amount fully insured by the FDIC (the “Insured Amount”) the Company shall be obligated to invest the excess amount over the Insured Amount in Eligible Investments on the same Business Day as such excess amount becomes present in the Custodial Account or the Escrow Account. Any such Eligible Investment shall mature no later than the Determination Date next following the date of such Eligible Investment, provided, however, that if such Eligible Investment is an obligation of a Qualified Depository (other than the Company) that maintains the Custodial Account or the Escrow Account, then such Eligible Investment may mature on such Remittance Date. Any such Eligible Investment shall be made in the name of the Company in trust for the benefit of the Purchaser. All income on or gain realized from any such Eligible Investment shall be for the benefit of the Company and may be withdrawn at any time by the Company. Any losses incurred in respect of any such investment shall be deposited in the Custodial Account or the Escrow Account, by the Company out of its own funds immediately as realized.
 
Section 4.10  
Maintenance of Hazard Insurance.
 
The Company shall cause to be maintained for each Mortgage Loan hazard insurance such that all buildings upon the Mortgaged Property are insured by a generally acceptable insurer rated A:VI or better in the current Best’s Key Rating Guide (“Best’s”) against loss by fire, hazards of extended coverage and such other hazards as are customary in the area where the Mortgaged Property is located, in an amount which is at least equal to the lesser of (i) the replacement value of the improvements securing such Mortgage Loan and (ii) the greater of (a) the outstanding principal balance of the Mortgage Loan and (b) an amount such that the proceeds thereof shall be sufficient to prevent the Mortgagor or the loss payee from becoming a co-insurer.
 
If a Mortgaged Property is located in an area identified in the Federal Register by the Flood Emergency Management Agency as having special flood hazards (and such flood insurance has been made available) a flood insurance policy meeting the requirements of the current guidelines of the Federal Insurance Administration is in effect with a generally acceptable insurance carrier rated A:VI or better in Best’s in an amount representing coverage equal to the lesser of (i) the minimum amount required, under the terms of coverage, to compensate for any damage or loss on a replacement cost basis (or the unpaid balance of the mortgage if replacement cost coverage is not available for the type of building insured) and (ii) the maximum amount of insurance which is available under the Flood Disaster Protection Act of 1973, as amended. If at any time during the term of the Mortgage Loan, the Company determines in accordance with applicable law and pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a special flood hazard area and is not covered by flood insurance or is covered in an amount less than the amount required by the Flood Disaster Protection Act of 1973, as amended, the Company shall notify the related Mortgagor that the Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails to obtain the required flood insurance coverage within forty-five (45) days after such notification, the Company shall immediately force place the required flood insurance on the Mortgagor’s behalf.
 
If a Mortgage is secured by a unit in a condominium project, the Company shall verify that the coverage required of the owner’s association, including hazard, flood, liability, and fidelity coverage, is being maintained in accordance with then current Fannie Mae requirements, and secure from the owner’s association its agreement to notify the Company promptly of any change in the insurance coverage or of any condemnation or casualty loss that may have a material effect on the value of the Mortgaged Property as security.
 
The Company shall cause to be maintained on each Mortgaged Property earthquake or such other or additional insurance as may be required pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance, or pursuant to the requirements of any private mortgage guaranty insurer, or as may be required to conform with Accepted Servicing Practices.
 
In the event that any Purchaser or the Company shall determine that the Mortgaged Property should be insured against loss or damage by hazards and risks not covered by the insurance required to be maintained by the Mortgagor pursuant to the terms of the Mortgage, the Company shall communicate and consult with the Mortgagor with respect to the need for such insurance and bring to the Mortgagor’s attention the desirability of protection of the Mortgaged Property.
 
All policies required hereunder shall name the Company as loss payee and shall be endorsed with standard or union mortgagee clauses, without contribution, which shall provide for at least 30 days prior written notice of any cancellation, reduction in amount or material change in coverage.
 
The Company shall not interfere with the Mortgagor’s freedom of choice in selecting either his insurance carrier or agent, provided, however, that the Company shall not accept any such insurance policies from insurance companies unless such companies are rated A:VI or better in Best’s and are licensed to do business in the jurisdiction in which the Mortgaged Property is located. The Company shall determine that such policies provide sufficient risk coverage and amounts, that they insure the property owner, and that they properly describe the property address. The Company shall furnish to the Mortgagor a formal notice of expiration of any such insurance in sufficient time for the Mortgagor to arrange for renewal coverage by the expiration date.
 
Pursuant to Section 4.04, any amounts collected by the Company under any such policies (other than amounts to be deposited in the Escrow Account and applied to the restoration or repair of the related Mortgaged Property, or property acquired in liquidation of the Mortgage Loan, or to be released to the Mortgagor, in accordance with the Company’s normal servicing procedures as specified in Section 4.14) shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05.
 
Section 4.11  
Maintenance of Mortgage Impairment Insurance.
 
In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to such Purchaser.
 
Section 4.12  
Maintenance of Fidelity Bond and Errors and Omissions Insurance.
 
The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Company against losses, including forgery, theft, embezzle-ment, fraud, errors and omissions and negligent acts of such Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be acceptable to Fannie Mae or Freddie Mac. Upon the request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Purchaser.
 
Section 4.13  
Inspections.
 
The Company shall inspect the Mortgaged Property as often as deemed necessary by the Company to assure itself that the value of the Mortgaged Property is being preserved. In addition, if any Mortgage Loan is more than 60 days delinquent, the Company immediately shall inspect the Mortgaged Property and shall conduct subsequent inspections in accordance with Accepted Servicing Practices or as may be required by the primary mortgage guaranty insurer. The Company shall keep a written report of each such inspection.
 
Section 4.14  
Restoration of Mortgaged Property.
 
The Company need not obtain the approval of the Purchaser prior to releasing any Insurance Proceeds or Condemnation Proceeds to the Mortgagor to be applied to the restoration or repair of the Mortgaged Property if such release is in accordance with Accepted Servicing Practices. At a minimum, the Company shall comply with the following conditions in connection with any such release of Insurance Proceeds or Condemnation Proceeds:
 
(i)  the Company shall receive satisfactory independent verification of completion of repairs and issuance of any required approvals with respect thereto;
 
(ii)  the Company shall take all steps necessary to preserve the priority of the lien of the Mortgage, including, but not limited to requiring waivers with respect to mechanics’ and materialmen’s liens;
 
(iii)  the Company shall verify that the Mortgage Loan is not in default; and
 
(iv)  pending repairs or restoration, the Company shall place the Insurance Proceeds or Condemnation Proceeds in the Custodial Account.
 
If the Purchaser is named as an additional loss payee, the Company is hereby empowered to endorse any loss draft issued in respect of such a claim in the name of the Purchaser.
 
Section 4.15  
Maintenance of PMI and LPMI Policy; Claims.
 
(a) With respect to each Mortgage Loan with a LTV in excess of 95%, the Company shall:
 
(i) with respect to Mortgage Loans which are not LPMI Loans, in accordance with state and federal laws and without any cost to the Purchaser, maintain or cause the Mortgagor to maintain in full force and effect a PMI Policy with a minimum of 35% coverage insuring that portion of the Mortgage Loan in excess of 68% (or such other percentage as stated in the related Acknowledgment Agreement) of value, and shall pay or shall cause the Mortgagor to pay the premium thereon on a timely basis, until the LTV of such Mortgage Loan is reduced to 80%. In the event that such PMI Policy shall be terminated, the Company shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated PMI Policy, at substantially the same fee level. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the PMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the PMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Company shall not take any action which would result in noncoverage under any applicable PMI Policy of any loss which, but for the actions of the Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 4.01, the Company shall promptly notify the insurer under the related PMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such PMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such PMI Policy is terminated as a result of such assumption or substitution of liability, the Company shall obtain a replacement PMI Policy as provided above.
 
(ii) with respect to LPMI Loans, maintain in full force and effect an LPMI Policy insuring that portion of the Mortgage Loan with a minimum of 35% coverage insuring that portion of the Mortgage Loan in excess of 68% (or such other percentage as stated in the related Acknowledgment Agreement) of value, and from time to time, withdraw the LPMI Fee with respect to such LPMI Loan from the Custodial Account in order to pay the premium thereon on a timely basis, until the LTV of such Mortgage Loan is reduced to 80%. In the event that the interest payments made with respect to any LPMI Loan are less than the LPMI Fee, the Company shall advance from its own funds the amount of any such shortfall in the LPMI Fee, in payment of the premium on the related LPMI Policy. Any such advance shall be a Servicing Advance subject to reimbursement pursuant to the provisions on Section 2.05. In the event that such LPMI Policy shall be terminated, the Company shall obtain from another Qualified Insurer a comparable replacement policy, with a total coverage equal to the remaining coverage of such terminated LPMI Policy, at substantially the same fee level. If the insurer shall cease to be a Qualified Insurer, the Company shall determine whether recoveries under the LPMI Policy are jeopardized for reasons related to the financial condition of such insurer, it being understood that the Company shall in no event have any responsibility or liability for any failure to recover under the LPMI Policy for such reason. If the Company determines that recoveries are so jeopardized, it shall notify the Purchaser and the Mortgagor, if required, and obtain from another Qualified Insurer a replacement insurance policy. The Company shall not take any action which would result in noncoverage under any applicable LPMI Policy of any loss which, but for the actions of the Company would have been covered thereunder. In connection with any assumption or substitution agreement entered into or to be entered into pursuant to Section 6.01, the Company shall promptly notify the insurer under the related LPMI Policy, if any, of such assumption or substitution of liability in accordance with the terms of such LPMI Policy and shall take all actions which may be required by such insurer as a condition to the continuation of coverage under such PMI Policy. If such LPMI Policy is terminated as a result of such assumption or substitution of liability, the Company shall obtain a replacement LPMI Policy as provided above.
 
(b) In connection with its activities as servicer, the Company agrees to prepare and present, on behalf of itself and the Purchaser, claims to the insurer under any PMI Policy or LPMI Policy in a timely fashion in accordance with the terms of such PMI Policy or LPMI Policy and, in this regard, to take such action as shall be necessary to permit recovery under any PMI Policy or LPMI Policy respecting a defaulted Mortgage Loan. Pursuant to Section 4.04, any amounts collected by the Company under any PMI Policy or LPMI Policy shall be deposited in the Custodial Account, subject to withdrawal pursuant to Section 4.05.
 
(c) Purchaser, in its sole discretion, at any time, may (i) either obtain an additional PMI Policy on any Mortgage Loan which already has a PMI Policy in place, or (ii) obtain a PMI Policy for any Mortgage Loan which does not already have a PMI Policy in place. In any event, the Company agrees to administer such PMI Policies in accordance with the Agreement or any Reconstitution Agreement.
 
Section 4.16  
Title, Management and Disposition of REO Property.
 
In the event that title to any Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale shall be taken in the name of the Purchaser, or in the event the Purchaser is not authorized or permitted to hold title to real property in the state where the REO Property is located, or would be adversely affected under the “doing business” or tax laws of such state by so holding title, the deed or certificate of sale shall be taken in the name of such Person or Persons as shall be consistent with an Opinion of Counsel obtained by the Company from any attorney duly licensed to practice law in the state where the REO Property is located. The Person or Persons holding such title other than the Purchaser shall acknowledge in writing that such title is being held as nominee for the Purchaser.
 
The Company shall manage, conserve, protect and operate each REO Property for the Purchaser solely for the purpose of its prompt disposition and sale. The Company, either itself or through an agent selected by the Company, shall manage, conserve, protect and operate the REO Property in the same manner that it manages, conserves, protects and operates other foreclosed property for its own account, and in the same manner that similar property in the same locality as the REO Property is managed. The Company shall attempt to sell the same (and may temporarily rent the same for a period not greater than one year, except as otherwise provided below) on such terms and conditions as the Company deems to be in the best interest of the Purchaser.
 
The Company shall use its best efforts to dispose of the REO Property as soon as possible and shall sell such REO Property in any event within one year after title has been taken to such REO Property, unless (i) (A) a REMIC election has not been made with respect to the arrangement under which the Mortgage Loans and the REO Property are held, and (ii) the Company determines, and gives an appropriate notice to the Purchaser to such effect, that a longer period is necessary for the orderly liquidation of such REO Property. If a period longer than one year is permitted under the foregoing sentence and is necessary to sell any REO Property the Company shall report monthly to the Purchaser as to the progress being made in selling such REO Property.
 
The Company shall also maintain on each REO Property fire and hazard insurance with extended coverage in amount which is at least equal to the maximum insurable value of the improvements which are a part of such property, liability insurance and, to the extent required and available under the Flood Disaster Protection Act of 1973, as amended, flood insurance in the amount required above.
 
The disposition of REO Property shall be carried out by the Company at such price, and upon such terms and conditions, as the Company deems to be in the best interests of the Purchaser. The proceeds of sale of the REO Property shall be promptly deposited in the Custodial Account. As soon as practical thereafter the expenses of such sale shall be paid and the Company shall reimburse itself for any related unreimbursed Servicing Advances, unpaid Servicing Fees and unreimbursed advances made pursuant to Section 5.03, and on the Remittance Date immediately following the Principal Prepayment Period in which such sale proceeds are received the net cash proceeds of such sale remaining in the Custodial Account shall be distributed to the Purchaser.
 
The Company shall withdraw the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to Section 4.10 and the fees of any managing agent of the Company, a Subservicer, or the Company itself. The REO management fee shall be an amount that is reasonable and customary in the area where the Mortgaged Property is located. The Company shall make monthly distributions on each Remittance Date to the Purchasers of the net cash flow from the REO Property (which shall equal the revenues from such REO Property net of the expenses described in this Section 4.16 and of any reserves reasonably required from time to time to be maintained to satisfy anticipated liabilities for such expenses).
 
Section 4.17  
Real Estate Owned Reports.
 
Together with the statement furnished pursuant to Section 5.02, the Company shall furnish to the Purchaser on or before the Remittance Date each month a statement with respect to any REO Property covering the operation of such REO Property for the previous month and the Company’s efforts in connection with the sale of such REO Property and any rental of such REO Property incidental to the sale thereof for the previous month. That statement shall be accompanied by such other information as the Purchaser shall reasonably request.
 
Section 4.18  
Liquidation Reports.
 
Upon the foreclosure sale of any Mortgaged Property or the acquisition thereof by the Purchaser pursuant to a deed in lieu of foreclosure, the Company shall submit to the Purchaser a liquidation report with respect to such Mortgaged Property.
 
Section 4.19  
Reports of Foreclosures and Abandonments of Mortgaged Property.
 
Following the foreclosure sale or abandonment of any Mortgaged Property, the Company shall report such foreclosure or abandonment as required pursuant to Section 6050J of the Code.
 
Section 4.20  
Notification of Adjustments.
 
With respect to each Mortgage Loan, the Company shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment on the related Payment Adjustment Date in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note. If, pursuant to the terms of the Mortgage Note, another index is selected for determining the Mortgage Interest Rate, the same index will be used with respect to each Mortgage Note which requires a new index to be selected, provided that such selection does not conflict with the terms of the related Mortgage Note. The Company shall execute and deliver any and all necessary notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. The Company shall promptly upon written request thereof, deliver to the Purchaser such notifications and any additional applicable data regarding such adjustments and the methods used to calculate and implement such adjustments. Upon the discovery by the Company, or the Purchaser that the Company has failed to adjust a Mortgage Interest Rate or a Monthly Payment pursuant to the terms of the related Mortgage Note and Mortgage, the Company shall immediately deposit in the Custodial Account from its own funds the amount of any interest loss caused the Purchaser thereby.
 
ARTICLE V
 
PAYMENTS TO PURCHASER
 
Section 5.01  
Remittances.
 
On each Remittance Date the Company shall remit by wire transfer of immediately available funds to the Purchaser (a) all amounts deposited in the Custodial Account as of the close of business on the Determination Date (net of charges against or withdrawals from the Custodial Account pursuant to Section 4.05), plus (b) all amounts, if any, which the Company is obligated to distribute pursuant to Section 5.03, minus (c) any amounts attributable to Principal Prepayments received after the applicable Principal Prepayment Period which amounts shall be remitted on the following Remittance Date, together with any additional interest required to be deposited in the Custodial Account in connection with such Principal Prepayment in accordance with Section 4.04(viii), and minus (d) any amounts attributable to Monthly Payments collected but due on a Due Date or Dates subsequent to the first day of the month of the Remittance Date, which amounts shall be remitted on the Remittance Date next succeeding the Due Period for such amounts.
 
With respect to any remittance received by the Purchaser after the second Business Day following the Business Day on which such payment was due, the Company shall pay to the Purchaser interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus three percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Custodial Account by the Company on the date such late payment is made and shall cover the period commencing with the day following such second Business Day and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default by the Company.
 
Section 5.02  
Statements to Purchaser.
 
Not later than the 10th day of each calendar month, the Company shall furnish to the Purchaser a Monthly Remittance Advice, with a trial balance report attached thereto, in the form of Exhibit F annexed hereto electronic medium mutually acceptable to the parties as to the preceding calendar month and the Due Period in the month of remittance
 
In addition, not more than 60 days after the end of each calendar year, the Company shall furnish to each Person who was a Purchaser at any time during such calendar year an annual statement in accordance with the requirements of applicable federal income tax law as to the aggregate of remittances for the applicable portion of such year. Nothing in this Section 5.02 shall be deemed to require the Company to prepare any 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 under the REMIC Provisions.
 
Section 5.03  
Monthly Advances by Company.
 
On the Business Day immediately preceding each Remittance Date, either (a) the Company shall deposit in the Custodial Account from its own funds or (b) if funds are on deposit in the Custodial Account which are not required to be remitted on the related Remittance Date, the Company may make an appropriate entry in its records that such funds shall be applied toward the related Monthly Advance (provided, that any funds so applied shall be replaced by the Company no later than the Business Day immediately preceding the next Remittance Date), in each case, in an aggregate amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. The Company’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan.
 
In no event shall the Company be obligated to make an advance under this section 5.03 if at the time of such advance it deems such advance to be non-recoverable. The Company shall promptly deliver an officer’s certificate to the Purchaser upon determining that any advance is non-recoverable. In the event that upon liquidation of the Mortgage Loan, the Liquidation Proceeds are insufficient to reimburse the Company for any Monthly Advances, the Company shall notify the related Purchaser of such shortfall by registered mail with sufficient supporting documentation and shall have the right to deduct such shortfall from the next remittance to be paid to the related Purchaser.
 
ARTICLE VI
 
GENERAL SERVICING PROCEDURES
 
Section 6.01  Transfers of Mortgaged Property.
 
The Company shall use its best efforts to enforce any “due-on-sale” provision contained in any Mortgage or Mortgage Note and to deny assumption by the person to whom the Mortgaged Property has been or is about to be sold whether by absolute conveyance or by contract of sale, and whether or not the Mortgagor remains liable on the Mortgage and the Mortgage Note. When the Mortgaged Property has been conveyed by the Mortgagor, the Company shall, to the extent it has knowledge of such conveyance, exercise its rights to accelerate the maturity of such Mortgage Loan under the “due-on-sale” clause applicable thereto, provided, however, that the Company shall not exercise such rights if prohibited by law from doing so or if the exercise of such rights would impair or threaten to impair any recovery under the related PMI or LPMI Policy, if any.
 
If the Company reasonably believes it is unable under applicable law to enforce such “due-on-sale” clause, the Company shall enter into (i) an assumption and modification agreement with the person to whom such property has been conveyed, pursuant to which such person becomes liable under the Mortgage Note and the original Mortgagor remains liable thereon or (ii) in the event the Company is unable under applicable law to require that the original Mortgagor remain liable under the Mortgage Note and the Company has the prior consent of the primary mortgage guaranty insurer, a substitution of liability agreement with the purchaser of the Mortgaged Property pursuant to which the original Mortgagor is released from liability and the purchaser of the Mortgaged Property is substituted as Mortgagor and becomes liable under the Mortgage Note. If an assumption fee is collected by the Company for entering into an assumption agreement, a portion of such fee, up to an amount equal to one percent (1.0%) of the outstanding principal balance of the related Mortgage Loan, will be retained by the Company as additional servicing compensation, and any portion thereof in excess one percent (1.0%) shall be deposited in the Custodial Account for the benefit of the Purchaser. In connection with any such assumption or substitution of liability, neither the Mortgage Interest Rate borne by the related Mortgage Note, the term of the Mortgage Loan, the Index, the Lifetime Mortgage Interest Rate Cap, the Initial Rate Cap or the Gross Margin of any Mortgage Loan, nor the outstanding principal amount of the Mortgage Loan shall be changed.
 
To the extent that any Mortgage Loan is assumable, the Company shall inquire diligently into the creditworthiness of the proposed transferee, and shall use the underwriting criteria for approving the credit of the proposed transferee which are used by Fannie Mae with respect to underwriting mortgage loans of the same type as the Mortgage Loans. If the credit of the proposed transferee does not meet such underwriting criteria, the Company diligently shall, to the extent permitted by the Mortgage or the Mortgage Note and by applicable law, accelerate the maturity of the Mortgage Loan.
 
Section 6.02  
Satisfaction of Mortgages and Release of Mortgage Files.
 
Upon the payment in full of any Mortgage Loan, or the receipt by the Company of a notification that payment in full will be escrowed in a manner customary for such purposes, the Company shall notify the Purchaser in the Monthly Remittance Advice as provided in Section 5.02, and may request the release of any Mortgage Loan Documents. In connection with any such prepayment in full, the Company shall comply with all applicable laws regarding satisfaction, release or reconveyance with respect to the Mortgage.
 
If the Company satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage or should the Company otherwise prejudice any rights the Purchaser may have under the mortgage instruments, upon written demand of the Purchaser, the Company shall repurchase the related Mortgage Loan at the Repurchase Price by deposit thereof in the Custodial Account within 2 Business Days of receipt of such demand by the Purchaser. The Company shall maintain the Fidelity Bond and Errors and Omissions Insurance Policy as provided for in Section 4.12 insuring the Company against any loss it may sustain with respect to any Mortgage Loan not satisfied in accordance with the procedures set forth herein.
 
Section 6.03  
Servicing Compensation.
 
As compensation for its services hereunder, the Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Company.
 
Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges and Prepayment Penalties, shall be retained by the Company to the extent not required to be deposited in the Custodial Account. The Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment in full, the Company shall not waive, and shall not permit the waiver of, any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Company determines that such waiver would maximize recovery of Liquidations Proceeds for such Mortgage Loan, taking into account the value of such Prepayment Penalty, or (ii) (A) the enforeceability therefore is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment or (B) the enforceability is otherwise limited or prohibited by applicable law.
 
Section 6.04  
Annual Statement as to Compliance.
 
The Company shall deliver to the Purchaser, on or before May 31 each year beginning May 31, 2003, an Officer’s Certificate, stating that (i) a review of the activities of the Company during the preceding calendar year and of performance under this Agreement has been made under such officer’s supervision, and (ii) the Company has complied fully with the provisions of Article II and Article IV, and (iii) to the best of such officer’s knowledge, based on such review, the Company has fulfilled all its obligations under this Agreement throughout such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof and the action being taken by the Company to cure such default.
 
Section 6.05  
Annual Independent Public Accountants’ Servicing Report.
 
On or before May 31st of each year beginning May 31, 2003, the Company, at its expense, shall cause a firm of independent public accountants which is a member of the American Institute of Certified Public Accountants to furnish a statement to each Purchaser to the effect that such firm has examined certain documents and records relating to the servicing of the Mortgage Loans and this Agreement and that such firm is of the opinion that the provisions of Article II and Article IV have been complied with, and that, on the basis of such examination conducted substantially in compliance with the Single Attestation Program for Mortgage Bankers, nothing has come to their attention which would indicate that such servicing has not been conducted in compliance therewith, except for (i) such exceptions as such firm shall believe to be immaterial, and (ii) such other exceptions as shall be set forth in such statement.
 
Section 6.06  
Right to Examine Company Records.
 
The Purchaser shall have the right to examine and audit any and all of the books, records, or other information of the Company, whether held by the Company or by another on its behalf, with respect to or concerning this Agreement or the Mortgage Loans, during business hours or at such other times as may be reasonable under applicable circumstances, upon reasonable advance notice.
 
ARTICLE VII
 
AGENCY TRANSFER; PASS-THROUGH TRANSFER
 
Section 7.01  
Removal of Mortgage Loans from Inclusion Under this Agreement Upon an Agency Transfer, or a Pass-Through Transfer on One or More Reconstitution Dates.
 
The Purchaser and the Company agree that with respect to any Pass-Through Transfer, Whole Loan Transfer or Agency Transfers, as applicable, the Company shall cooperate with the Purchaser in effecting such transfers and shall negotiate in good faith and execute any Reconstitution Agreement required to effectuate the foregoing; provided that, such Reconstitution Agreement shall not materially increase the Company’s obligations or liabilities hereunder, nor diminish any of the Company’s rights, and provide to any master servicer or the trustee, as applicable, and/or the Purchaser any and all publicly available information and appropriate verification of information which may be reasonably available to the Company, whether through letters of its auditors and counsel or otherwise, as the Purchaser, trustee or a master servicer shall reasonable request as to the related Mortgage Loans. Purchaser shall reimburse Company for any and all costs or expenses incurred by Company (i) in obtaining “accountant comfort letters” with respect to information supplied in response to Purchaser requests, (ii) in connection with any due diligence performed in connection with a Pass-Through or Whole Loan Transfer or (iii) making the Mortgage Loan Documents or Servicing Files available to parties participating in a Pass-Through or Whole Loan Transfer, including without limitation, shipping costs. Such information may be included in any disclosure document prepared in connection with the Pass-Through Transfer, Whole Loan Transfer or Agency Transfer, as applicable; provided, however, that Company shall indemnify the Purchaser against any liability arising from any material omissions or misstatements in any information supplied by the Company and included in a disclosure document; and provided, further, that the Purchaser shall indemnify the Company against any liability arising from any information included in a disclosure document that was not supplied by the Company. The Company shall execute any Reconstitution Agreements required within a reasonable period of time after receipt of such agreements which time shall be sufficient for the Company and the Company’s counsel to review such agreements. Company shall use its Best Efforts to complete such review within ten (10) Business Days after mutual agreement as to the terms thereof, but such time shall not exceed fifteen (15) Business Days after mutual agreement as to the terms thereof.
 
The Company shall not be required to restate any representations and warranties as of the date of any Pass-Through Transfer, Whole Loan Transfer or Agency Transfers other than the representations and warranties set forth in Section 3.01 (provided, that the Company shall not be required to restate the representation and warranty set forth in Section 3.01(j)).
 
In the event of any Agency Transfer, Pass-Through or Whole Loan Transfer, the Company shall have no obligation to pay any custodial fees charged by the Agency.
 
Section 7.02  
Purchaser’s Repurchase and Indemnification Obligations.
 
Upon receipt by the Company of notice from Fannie Mae, Freddie Mac or the trustee of a breach of any Purchaser representation or warranty contained in any Reconstitution Agreement or a request by Fannie Mae, Freddie Mac or the trustee, as the case may be, for the repurchase of any Mortgage Loan transferred to Fannie Mae or Freddie Mac pursuant to an Agency Transfer or to a trustee pursuant to a Pass-Through Transfer, the Company shall promptly notify the Purchaser of same and shall, at the direction of the Purchaser, use its best efforts to cure and correct any such breach and to satisfy the requests or concerns of Fannie Mae, Freddie Mac, or the trustee related to such deficiencies of the related Mortgage Loans transferred to Fannie Mae, Freddie Mac, or the trustee.
 
The Purchaser shall repurchase from the Company any Mortgage Loan transferred to Fannie Mae or Freddie Mac pursuant to an Agency Transfer or to a trustee pursuant to a Pass-Through Transfer with respect to which the Company has been required by Fannie Mae, Freddie Mac, or the trustee to repurchase due to a breach of a representation or warranty made by the Purchaser with respect to the Mortgage Loans, or the servicing thereof prior to the transfer date to Fannie Mae, Freddie Mac, or the trustee in any Reconstitution Agreement and not due to a breach of the Company’s representations or obligations thereunder or pursuant to this Agreement. The repurchase price to be paid by the Purchaser to the Company shall equal that repurchase price paid by the Company to Fannie Mae, Freddie Mac, or the third party purchaser plus all reasonable costs and expenses borne by the Company in connection with the cure of said breach of a representation or warranty made by the Purchaser and in connection with the repurchase of such Mortgage Loan from Fannie Mae, Freddie Mac, or the trustee, including, but not limited to, reasonable and necessary attorneys’ fees.
 
At the time of repurchase, the Custodian and the Company shall arrange for the reassignment of the repurchased Mortgage Loan to the Purchaser according to the Purchaser’s instructions and the delivery to the Custodian of any documents held by Fannie Mae, Freddie Mac, or the trustee with respect to the repurchased Mortgage Loan pursuant to the related Reconstitution Agreement. In the event of a repurchase, the Company shall, simultaneously with such reassignment, give written notice to the Purchaser that such repurchase has taken place, and amend the related Mortgage Loan Schedule to reflect the addition of the repurchased Mortgage Loan to this Agreement. In connection with any such addition, the Company and the Purchaser shall be deemed to have made as to such repurchased Mortgage Loan the representations and warranties set forth in this Agreement.
 
ARTICLE VIII
 
COMPANY TO COOPERATE
 
Section 8.01  
Provision of Information.
 
During the term of this Agreement and provided such request will cause the Company to violate any applicable law or statute, the Company shall furnish to the Purchaser such periodic, special, or other reports or information and copies or originals of any documents contained in the Servicing File for each Mortgage Loan, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Purchaser, any regulatory requirement pertaining to the Purchaser or the purposes of this Agreement. All such reports, documents or information shall be provided by and in accordance with all reasonable instructions and directions which the Purchaser may give. Purchaser shall pay any costs related to any special reports.
 
The Company shall execute and deliver all such instruments and take all such action as the Purchaser may reasonably request from time to time, in order to effectuate the purposes and to carry out the terms of this Agreement.
 
Section 8.02  
Financial Statements; Servicing Facility.
 
In connection with marketing the Mortgage Loans, the Purchaser may make available to a prospective Purchaser a Consolidated Statement of Operations of the Company for the most recently completed five fiscal years for which such a statement is available, as well as a Consolidated Statement of Condition at the end of the last two fiscal years covered by such Consolidated Statement of Operations. The Company also shall make available any comparable interim statements to the extent any such statements have been prepared by or on behalf of the Company (and are available upon request to members or stockholders of the Company or to the public at large). If it has not already done so, the Company shall furnish promptly to the Purchaser copies of the statement specified above. Unless requested the Purchaser, the Company shall not be required to deliver any documents which are publicly available on EDGAR.
 
The Company also shall make available to Purchaser or prospective Purchaser a knowledgeable financial or accounting officer for the purpose of answering questions respecting recent developments affecting the Company or the financial statements of the Company, and to permit any prospective Purchaser to inspect the Company’s servicing facilities or those of any Subservicer for the purpose of satisfying such prospective Purchaser that the Company and any Subservicer have the ability to service the Mortgage Loans as provided in this Agreement.
 
ARTICLE IX
 
THE COMPANY
 
Section 9.01  
Indemnification; Third Party Claims.
 
The Company shall indemnify the Purchaser and hold it harmless against any and all claims, losses, damages, penalties, fines, and forfeitures, including, but not limited to reasonable and necessary legal fees and related costs, judgments, and any other costs, fees and expenses that the Purchaser may sustain in any way related to the failure of the Company to (a) perform its duties and service the Mortgage Loans in strict compliance with the terms of this Agreement or any Reconstitution Agreement entered into pursuant to Section 7.01, and/or (b) comply with applicable law. The Company immediately shall notify the Purchaser if a claim is made by a third party with respect to this Agreement or any Reconstitution Agreement or the Mortgage Loans, shall promptly notify Fannie Mae, Freddie Mac, or the trustee with respect to any claim made by a third party with respect to any Reconstitution Agreement, assume (with the prior written consent of the Purchaser) the defense of any such claim and pay all expenses in connection therewith, including counsel fees, and promptly pay, discharge and satisfy any judgment or decree in the amount of $5,000 or less, which may be entered against it or the Purchaser in respect of such claim. The Company shall follow any written instructions received from the Purchaser in connection with such claim. The Purchaser promptly shall reimburse the Company for all amounts advanced by it pursuant to the preceding sentence except when the claim is in any way related to the Company’s indemnification pursuant to Section 3.03, or the failure of the Company to (a) service and administer the Mortgage Loans in strict compliance with the terms of this Agreement or any Reconstitution Agreement, and/or (b) comply with applicable law.
 
Section 9.02  
Merger or Consolidation of the Company.
 
The Company shall keep in full effect its existence, rights and franchises as a corporation, and shall 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 or any of the Mortgage Loans and to perform its duties under this Agreement.
 
Any person into which the Company may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Company shall be a party, or any Person succeeding to the business of the Company, shall be the successor of the Company 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 shall be an institution (i) having a net worth of not less than $25,000,000, (ii) whose deposits are insured by the FDIC through the BIF or the SAIF, and (iii) which is a Fannie Mae-approved company in good standing.
 
Section 9.03  
Limitation on Liability of Company and Others.
 
Neither the Company nor any of the directors, officers, employees or agents of the Company shall be under any liability to the Purchaser 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 or any such person against any Breach of warranties or representations made herein, or failure to perform its obligations in strict compliance with any standard of care set forth in this Agreement, or any liability which would otherwise be imposed by reason of any breach of the terms and conditions of this Agreement. The Company and any director, officer, employee or agent of the Company 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 shall not be under any obligation to appear in, prosecute or defend any legal action which is not incidental to its duties to service the Mortgage Loans in accordance with this Agreement and which in its opinion may involve it in any expense or liability, provided, however, that the Company may, with the consent of the Purchaser, undertake any such action which it may deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto. In such event, the Company shall be entitled to reimbursement from the Purchaser of the reasonable legal expenses and costs of such action.
 
Section 9.04  
Limitation on Resignation and Assignment by Company.
 
The Purchaser has entered into this Agreement with the Company and subsequent Purchasers will purchase the Mortgage Loans in reliance upon the independent status of the Company, and the representations as to the adequacy of its servicing facilities, plant, personnel, records and procedures, its integrity, reputation and financial standing, and the continuance thereof. Therefore, the Company shall neither assign this Agreement or the servicing hereunder or delegate its rights or duties hereunder or any portion hereof (to other than a Subservicer) or sell or otherwise dispose of all or substantially all of its property or assets without the prior written consent of the Purchaser, which consent shall be granted or withheld in the sole discretion of the Purchaser; provided, however, that the Company may assign its right and obligations hereunder to any entity that is directly or indirectly owned or controlled by the Company and the Company guarantees the performance by such entity of all obligations hereunder.
 
The Company shall not resign from the obligations and duties hereby imposed on it except by mutual consent of the Company and the Purchaser or upon the determination that its duties hereunder are no longer permissible under applicable law and such incapacity cannot be cured by the Company. Any such determination permitting the resignation of the Company shall be evidenced by an Opinion of Counsel to such effect delivered to the Purchaser which Opinion of Counsel shall be in form and substance acceptable to the Purchaser. No such resignation shall become effective until a successor shall have assumed the Company’s responsibilities and obligations hereunder in the manner provided in Section 12.01.
 
Without in any way limiting the generality of this Section 9.04, in the event that the Company either shall assign this Agreement or the servicing responsibilities hereunder or delegate its duties hereunder or any portion thereof (to other than a Subservicer) or sell or otherwise dispose of all or substantially all of its property or assets, without the prior written consent of the Purchaser, then the Purchaser shall have the right to terminate this Agreement upon notice given as set forth in Section 10.01, without any payment of any penalty or damages and without any liability whatsoever to the Company or any third party.
 
ARTICLE X
 
DEFAULT
 
Section 10.01  
Events of Default.
 
Each of the following shall constitute an Event of Default on the part of the Company:
 
(i)  any failure by the Company to remit to the Purchaser any payment required to be made under the terms of this Agreement which continues unremedied for a period of three days after the date upon which written notice of such failure, requiring the same to be remedied, shall have been given to the Company by the Purchaser; or
 
(ii)  failure by the Company duly to observe or perform in any material respect any other of the covenants or agreements on the part of the Company set forth in this Agreement which continues unremedied for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Company by the Purchaser; or
 
(iii)  failure by the Company to maintain its license to do business in any jurisdiction where the Mortgage Property is located if such license is necessary for the Company to legally service the related Mortgage Loan; or
 
(iv)  a decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, including bankruptcy, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Company and such decree or order shall have remained in force undischarged or unstayed for a period of 60 days; or
 
(v)  the Company shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Company or of or relating to all or substantially all of its property; or
 
(vi)  the Company shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency, bankruptcy or reorganization statute, make an assignment for the benefit of its creditors, voluntarily suspend payment of its obligations or cease its normal business operations for three Business Days; or
 
(vii)  the Company ceases to meet the qualifications of a Fannie Mae lender or servicer; or
 
(viii)  the Company fails to maintain a minimum net worth of $25,000,000; or
 
(ix)  the Company attempts to assign its right to servicing compensation hereunder or the Company attempts, without the consent of the Purchaser, to sell or otherwise dispose of all or substantially all of its property or assets or to assign this Agreement or the servicing responsibilities hereunder or to delegate its duties hereunder or any portion thereof (to other than a Subservicer) in violation of Section 9.04.
 
In each and every such case, so long as an Event of Default shall not have been remedied, in addition to whatsoever rights the Purchaser may have at law or equity to damages, including injunctive relief and specific performance, the Purchaser, by notice in writing to the Company, may terminate all the rights and obligations of the Company under this Agreement and in and to the Mortgage Loans and the proceeds thereof.
 
Upon receipt by the Company of such written notice, all authority and power of the Company under this Agreement, whether with respect to the Mortgage Loans or otherwise, shall pass to and be vested in the successor appointed pursuant to Section 12.01. Upon written request from any Purchaser, the Company shall prepare, execute and deliver to the successor entity designated by the Purchaser any and all documents and other instruments, place in such successor’s possession all Mortgage Files, and do or cause to be done all other acts or things necessary or appropriate to effect the purposes of such notice of termination, including but not limited to the transfer and endorsement or assignment of the Mortgage Loans and related documents, at the Company’s sole expense. The Company shall cooperate with the Purchaser and such successor in effecting the termination of the Company’s responsibilities and rights hereunder, including without limitation, the transfer to such successor for administration by it of all cash amounts which shall at the time be credited by the Company to the Custodial Account or Escrow Account or thereafter received with respect to the Mortgage Loans.
 
Section 10.02  
Waiver of Defaults.
 
By a written notice, the Purchaser may waive any default by the Company in the performance of its obligations hereunder and its consequences. Upon any waiver of a past default, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
 
ARTICLE XI
 
TERMINATION
 
Section 11.01  
Termination.
 
This Agreement shall terminate upon either: (i) the later of the final payment or other liquidation (or any advance with respect thereto) of the last Mortgage Loan or the disposition of any REO Property with respect to the last Mortgage Loan and the remittance of all funds due hereunder; or (ii) mutual consent of the Company and the Purchaser in writing.
 
Section 11.02  
Termination Without Cause.
 
The Purchaser may terminate, at its sole option, any rights the Company may have hereunder, without cause, as provided in this Section 11.02. Any such notice of termination shall be in writing and delivered to the Company by registered mail as provided in Section 12.05.
 
In the event the Purchaser terminates the Company without cause with respect to some or all of the Mortgage Loans, the Purchaser shall be required to pay to the Company a Termination Fee in an amount equal to 2.0% of the outstanding principal balance of the terminated Mortgage Loans as of the date of such termination.
 
ARTICLE XII
 
MISCELLANEOUS PROVISIONS
 
Section 12.01  
Successor to Company.
 
Prior to termination of the Company’s responsibilities and duties under this Agreement pursuant to Sections 9.04, 10.01, 11.01 (ii) or pursuant to Section 11.02 after the 90 day period has expired, the Purchaser shall, (i) succeed to and assume all of the Company’s responsibilities, rights, duties and obligations under this Agreement, or (ii) appoint a successor having the characteristics set forth in clauses (i) through (iii) of Section 9.02 and which shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Company under this Agreement prior to the termination of Company’s responsibilities, duties and liabilities under this Agreement. In connection with such appointment and assumption, the Purchaser may make such arrangements for the compensation of such successor out of payments on Mortgage Loans as it and such successor shall agree. In the event that the Company’s duties, responsibilities and liabilities under this Agreement should be terminated pursuant to the aforementioned sections, the Company shall discharge such duties and responsibilities during the period from the date it acquires knowledge of such termination until the effective date thereof with the same degree of diligence and prudence which it is obligated to exercise under this Agreement, and shall take no action whatsoever that might impair or prejudice the rights or financial condition of its successor. The resignation or removal of the Company pursuant to the aforementioned sections shall not become effective until a successor shall be appointed pursuant to this Section 12.01 and shall in no event relieve the Company of the representations and warranties made pursuant to Sections 3.01 and 3.02 and the remedies available to the Purchaser under Sections 3.03, 3.04, 3.05 and 3.07, it being understood and agreed that the provisions of such Sections 3.01, 3.02, 3.03, 3.04, 3.05 and 3.07 shall be applicable to the Company notwithstanding any such sale, assignment, resignation or termination of the Company, or the termination of this Agreement.
 
Any successor appointed as provided herein shall execute, acknowledge and deliver to the Company and to the Purchaser an instrument accepting such appointment, wherein the successor shall make the representations and warranties set forth in Section 3.01, except for subsections (f), (h), (i) and (k) thereof, whereupon such successor shall become fully vested with all the rights, powers, duties, responsibilities, obligations and liabilities of the Company, with like effect as if originally named as a party to this Agreement. Any termination or resignation of the Company or termination of this Agreement pursuant to Section 9.04, 10.01, 11.01 or 11.02 shall not affect any claims that any Purchaser may have against the Company arising out of the Company’s actions or failure to act prior to any such termination or resignation.
 
The Company shall deliver promptly to the successor servicer the Funds in the Custodial Account and Escrow Account and all Mortgage Files and related documents and statements held by it hereunder and the Company shall account for all funds and shall execute and deliver such instruments and do such other things as may reasonably be required to more fully and definitively vest in the successor all such rights, powers, duties, responsibilities, obligations and liabilities of the Company.
 
Upon a successor’s acceptance of appointment as such, the Company shall notify by mail the Purchaser of such appointment in accordance with the procedures set forth in Section 12.05.
 
Section 12.02  
Amendment.
 
This Agreement may be amended from time to time by the Company and the Purchaser by written agreement signed by the Company and the Purchaser.
 
Section 12.03  
Governing Law.
 
This Agreement shall be 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 12.04  
Duration of Agreement.
 
This Agreement shall continue in existence and effect until terminated as herein provided. This Agreement shall continue notwithstanding transfers of the Mortgage Loans by the Purchaser.
 
Section 12.05  
Notices.
 
All demands, notices and communications 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, addressed as follows:
 
(i)  if to the Company:
Countrywide Home Loans, Inc.,
4500 Park Grenada
Calabasas, CA 91302
Attention: David Spector
 
or such other address as may hereafter be furnished to the Purchaser in writing by the Company;
 
(ii)  if to Purchaser:
EMC Mortgage Corporation
Mac Arthur Ridge II
909 Hidden Ridge Drive, Suite 200
Irving, Texas 75014-1358
Attention: Ralene Ruyle
 
Section 12.06  
Severability of Provisions.
 
If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be held invalid for any reason whatsoever, 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.
 
Section 12.07  
Relationship of Parties.
 
Nothing herein contained shall be deemed or construed to create a partnership or joint venture between the parties hereto and the services of the Company shall be rendered as an independent contractor and not as agent for the Purchaser.
 
Section 12.08  
Execution; Successors and Assigns.
 
This Agreement 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 agreement. Subject to Section 8.04, this Agreement shall inure to the benefit of and be binding upon the Company and the Purchaser and their respective successors and assigns.
 
Section 12.09  
Recordation of Assignments of Mortgage.
 
To the extent permitted by applicable law, each of the Assignments of Mortgage 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 Mortgaged Properties are situated, and in any other appropriate public recording office or elsewhere, such recordation to be effected at the Company’s expense in the event recordation is either necessary under applicable law or requested by the Purchaser at its sole option accordance with Section 14 of the Purchase Agreement.
 
Section 12.10  
Assignment by Purchaser.
 
The Purchaser shall have the right, without the consent of the Company but subject to the limit set forth in Section 2.02 hereof, to assign, in whole or in part, its interest under this Agreement with respect to some or all of the Mortgage Loans, and designate any person to exercise any rights of the Purchaser hereunder, by executing an Assignment and Assumption Agreement substantially in the form of Exhibit G hereto. Upon such assignment of rights and assumption of obligations, the assignee or designee shall accede to the rights and obligations hereunder of the Purchaser with respect to such Mortgage Loans and the Purchaser as assignor shall be released from all obligations hereunder with respect to such Mortgage Loans from and after the date of such assignment and assumption. All references to the Purchaser in this Agreement shall be deemed to include its assignee or designee.
 
Section 12.11  
No Personal Solicitation.

From and after the related Closing Date, the Company hereby agrees that it will not take any action or permit or cause any action to be taken by any of its agents or affiliates, or by any independent contractors or independent mortgage brokerage companies on the Company’s behalf, to personally, by telephone or mail, solicit the Mortgagor under any Mortgage Loan for the purpose of refinancing such Mortgage Loan; provided, that the Company may solicit any Mortgagor for whom the Company has received a request for verification of mortgage, a request for demand for payoff, a mortgagor initiated written or verbal communication indicating a desire to prepay the related Mortgage Loan, or the mortgagor initiates a title search, provided further, it is understood and agreed that promotions undertaken by the Company or any of its affiliates which (i) concern optional insurance products or other additional projects, (ii) are directed to the general public at large, including, without limitation, mass mailings based on commercially acquired mailing lists, newspaper, radio and television advertisements, (iii) are directed to mortgagors who have a specific type of mortgage (i.e., balloon Mortgage Loans, LIBOR Mortgage Loans, etc.) or (iv) directed to those mortgagors whose mortgages fall within specific interest rate ranges shall not constitute solicitation under this Section 12.11 nor is the Company prohibited from responding to unsolicited requests or inquiries made by a Mortgagor or an agent of a Mortgagor. Notwithstanding the foregoing, the following solicitations, if undertaken by the Company or any affiliate of the Company, shall not be prohibited under this Section 12.11: (i) solicitations that are directed to the general public at large, including, without limitation, mass mailings based on commercially acquired mailing lists and newspaper, radio, television and other mass media advertisements; (ii) borrower messages included on, and statement inserts provided with, the monthly statements sent to Mortgagors; provided, however, that similar messages and inserts are sent to the borrowers of other mortgage loans serviced by the Company.


 
IN WITNESS WHEREOF, the Company and the Purchaser have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
 
     
  EMC MORTGAGE CORPORATION
 
 
 
 
 
 
By:  
  Name: 
Ralene Ruyle
  Title: President
 
 
     
  COUNTRYWIDE HOME LOANS, INC.
 
 
 
 
 
 
By:  
  Name: 
 
 
Title:

 
   
 



 
STATE OF NEW YORK )
  ) ss.:
COUNTY OF __________ ) 
 
On the __ day of ________, 200_ before me, a Notary Public in and for said State, personally appeared ________, known to me to be Vice President of EMC Mortgage Corporation, the federal savings association 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 affixed my office seal the day and year in this certificate first above written.
 
   
  Notary Public
     
  My Commission expires    
 
 



 
STATE OF )
  ) ss.:
COUNTY OF __________ ) 
 
On the __ day of _______, 200_ before me, a Notary Public in and for said State, personally appeared __________, known to me to be ______________ of Countrywide Home Loans, Inc. the corporation 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 affixed my office seal the day and year in this certificate first above written.
 
   
  Notary Public
     
  My Commission expires    



EXHIBIT A
 
MORTGAGE LOAN SCHEDULE



 
EXHIBIT B
 
CONTENTS OF EACH MORTGAGE FILE
 
With respect to each Mortgage Loan, the Mortgage File shall include each of the following items, which shall be available for inspection by the Purchaser and any prospective Purchaser, and which shall be retained by the Company in the Servicing File or delivered to the Custodian pursuant to Section 2.01 and 2.03 of the Seller’s Warranties and Servicing Agreement to which this Exhibit is attached (the “Agreement”):

 
1.
The original Mortgage Note bearing all intervening endorsements, endorsed “Pay to the order of _________ without recourse” and signed in the name of the Company by an authorized officer (in the event that the Mortgage Loan was acquired by the Company in a merger, the signature must be in the following form: “Countrywide Home Loans, Inc., successor by merger to [name of predecessor]”; and in the event that the Mortgage Loan was acquired or originated by the Company while doing business under another name, the signature must be in the following form: “Countrywide Home Loans, Inc., formerly known as [previous name]”).
 
 
 
 
2.
The original of any guarantee executed in connection with the Mortgage Note (if any).
 
 
 
 
3.
The original Mortgage, with evidence of recording thereon. If in connection with any Mortgage Loan, the Company cannot deliver or cause to be delivered the original Mortgage with evidence of recording thereon on or prior to the related Closing Date because of a delay caused by the public recording office where such Mortgage has been delivered for recordation or because such Mortgage has been lost or because such public recording office retains the original recorded Mortgage, the Company shall deliver or cause to be delivered to the Custodian, a photocopy of such Mortgage, together with (i) in the case of a delay caused by the public recording office, an Officer’s Certificate of the Company stating that such Mortgage has been dispatched to the appropriate public recording office for recordation and that the original recorded Mortgage or a copy of such Mortgage certified by such public recording office to be a true and complete copy of the original recorded Mortgage will be promptly delivered to the Custodian upon receipt thereof by the Company; or (ii) in the case of a Mortgage where a public recording office retains the original recorded Mortgage or in the case where a Mortgage is lost after recordation in a public recording office, a copy of such Mortgage certified by such public recording office or by the title insurance company that issued the title policy to be a true and complete copy of the original recorded Mortgage.
 
 
 
 
4.
The originals of all assumption, modification, consolidation or extension agreements, with evidence of recording thereon.
 
 
 
 
5.
The original Assignment of Mortgage for each Mortgage Loan, in form and substance acceptable for recording, delivered in blank. If the Mortgage Loan was acquired by the Company in a merger, the Assignment of Mortgage must be made by “Countrywide Home Loans, Inc., successor by merger to [name of predecessor].” If the Mortgage Loan was acquired or originated by the Company while doing business under another name, the Assignment of Mortgage must be by “Countrywide Home Loans, Inc., formerly known as [previous name].”
 
 
 
 
6.
Originals of all intervening assignments of the Mortgage with evidence of recording thereon, or if any such intervening assignment has not been returned from the applicable recording office or has been lost or if such public recording office retains the original recorded assignments of mortgage, the Company shall deliver or cause to be delivered to the Custodian, a photocopy of such intervening assignment, together with (i) in the case of a delay caused by the public recording office, an Officer’s Certificate of the Company stating that such intervening assignment of mortgage has been dispatched to the appropriate public recording office for recordation and that such original recorded intervening assignment of mortgage or a copy of such intervening assignment of mortgage certified by the appropriate public recording office or by the title insurance company that issued the title policy to be a true and complete copy of the original recorded intervening assignment of mortgage will be promptly delivered to the Custodian upon receipt thereof by the Company; or (ii) in the case of an intervening assignment where a public recording office retains the original recorded intervening assignment or in the case where an intervening assignment is lost after recordation in a public recording office, a copy of such intervening assignment certified by such public recording office to be a true and complete copy of the original recorded intervening assignment.
 
 
 
 
7.
The original mortgagee policy of title insurance or attorney’s opinion of title and abstract of title.
 
 
 
 
8.
Any security agreement, chattel mortgage or equivalent executed in connection with the Mortgage.
 
 
 
 
9.
The original hazard insurance policy and, if required by law, flood insurance policy, in accordance with Section 4.10 of the Agreement.
 
 
 
 
10.
Residential loan application.
 
 
 
 
11.
Mortgage Loan closing statement.
 
 
 
 
12.
Verification of employment and income.
 
 
 
 
13.
Verification of acceptable evidence of source and amount of downpayment.
 
 
 
 
14.
Credit report on the Mortgagor.
 
 
 
 
15.
Residential appraisal report.
 
 
 
 
16.
Photograph of the Mortgaged Property.
 
 
 
 
17.
Survey of the Mortgaged Property.
 
 
 
 
18.
Copy of each instrument necessary to complete identification of any exception set forth in the exception schedule in the title policy, i.e., map or plat, restrictions, easements, sewer agreements, home association declarations, etc.
 
 
 
 
19.
All required disclosure statements.
 
 
 
 
20.
If available, termite report, structural engineer’s report, water potability and septic certification.
 
 
 
 
21.
Sales contract.
 
 
 
 
22.
Tax receipts, insurance premium receipts, ledger sheets, payment history from date of origination, insurance claim files, correspondence, current and historical computerized data files, and all other processing, underwriting and closing papers and records which are customarily contained in a mortgage loan file and which are required to document the Mortgage Loan or to service the Mortgage Loan.
 
In the event an Officer’s Certificate of the Company is delivered to the Custodian because of a delay caused by the public recording office in returning any recorded document, the Company shall deliver to the Custodian, within 180 days of the related Closing Date, an Officer’s Certificate which shall (i) identify the recorded document, (ii) state that the recorded document has not been delivered to the Custodian due solely to a delay caused by the public recording office, (iii) state the amount of time generally required by the applicable recording office to record and return a document submitted for recordation, and (iv) specify the date the applicable recorded document will be delivered to the Custodian. The Company shall be required to deliver to the Custodian the applicable recorded document by the date specified in (iv) above. An extension of the date specified in (iv) above may be requested from the Purchaser, which consent shall not be unreasonably withheld.
 



EXHIBIT C
 
MORTGAGE LOAN DOCUMENTS
 
The Mortgage Loan Documents for each Mortgage Loan shall include each of the following items, which shall be delivered to the Custodian pursuant to Section 2.01 of the Seller’s Warranties and Servicing Agreement to which this Exhibit is annexed (the “Agreement”):
 
(a)  the original Mortgage Note bearing all intervening endorsements, endorsed “Pay to the order of ___________, without recourse” and signed in the name of the Company by an authorized officer. To the extent that there is no room on the face of the Mortgage Note for endorsements, the endorsement may be contained on an allonge, if state law so allows. If the Mortgage Loan was acquired by the Company in a merger, the endorsement must be by “Countrywide Home Loans, Inc., successor by merger to [name of predecessor].” If the Mortgage Loan was acquired or originated by the Company while doing business under another name, the endorsement must be by “Countrywide Home Loans, Inc., formerly known as [previous name]”;
 
(b)  the original of any guarantee executed in connection with the Mortgage Note;
 
(c)  the original Mortgage with evidence of recording thereon, and the original recorded power of attorney, if the Mortgage was executed pursuant to a power of attorney, with evidence of recording thereon;
 
(d)  the originals of all assumption, modification, consolidation or extension agreements, with evidence of recording thereon;
 
(e)  the original Assignment of Mortgage for each Mortgage Loan, in form and substance acceptable for recording, delivered in blank, or the original Assignment of Mortgage in recordable form into MERS. If the Mortgage Loan was acquired by the Company in a merger, the Assignment of Mortgage must be made by “Countrywide Home Loans, Inc., successor by merger to [name of predecessor].” If the Mortgage Loan was acquired or originated by the Company while doing business under another name, the Assignment of Mortgage must be by “Countrywide Home Loans, Inc., formerly known as [previous name];”
 
(f)  the originals of all intervening assignments of mortgage with evidence of recording thereon, including warehousing assignments, if any;
 
(g)  the original mortgagee title insurance policy;
 
(h)  such other documents as the Purchaser may require.
 

 
EXHIBIT D-1
 
CUSTODIAL ACCOUNT CERTIFICATION
 
_____________________, 200_
 
Countrywide Home Loans, Inc. hereby certifies that it has established the account described below as a Custodial Account pursuant to Section 4.04 of the Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, Residential Adjustable Rate Mortgage Loans.
 
Title of Account: Countrywide Home Loans, Inc. in trust for the Purchaser
 
Account Number: _______________
 
Address of office or branch
 
of the Company at
which Account is maintained:
   
 
   
 
   
 
   
 
     
 
Countrywide Home Loans, Inc.
 
Company
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 
 
 

 
EXHIBIT D-2
 
CUSTODIAL ACCOUNT LETTER AGREEMENT
 
_________________, 200_
 
To:    
 
 
 
  
 
 
(the “Depository”)
 
 
As Company under the Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, Residential Adjustable Rate Mortgage Loans (the “Agreement”), we hereby authorize and request you to establish an account, as a Custodial Account pursuant to Section 4.04 of the Agreement, to be designated as “[Servicer] in trust for the Purchaser - Residential Adjustable Rate Mortgage Loans.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Company. You may refuse any deposit which would result in violation of the requirement that the account be fully insured as described below. This letter is submitted to you in duplicate. Please execute and return one original to us.
 
     
 
[COUNTRYWIDE HOME LOANS, INC.]
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 
 
Date: 

 
 





 
The undersigned, as Depository, hereby certifies that the above described account has been established under Account Number __________, at the office of the Depository indicated above, and agrees to honor withdrawals on such account as provided above. The full amount deposited at any time in the account will be insured by the Federal Deposit Insurance Corporation through the Bank Insurance Fund (“BIF”) or the Savings Association Insurance Fund (“SAIF”).
 
     
 
Depository
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 
 
Date: 

 
 


 
EXHIBIT E-1

ESCROW ACCOUNT CERTIFICATION
 
__________________, 200_
 
Countrywide Home Loans, Inc. hereby certifies that it has established the account described below as an Escrow Account pursuant to Section 4.06 of the Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, Residential Adjustable Rate Mortgage Loans.
 
Title of Account: “Countrywide Home Loans, Inc. in trust for the Purchaser and various Mortgagors.”
 
Account Number: _______________
 
Address of office or branch
 
of the Company at
which Account is maintained:
   
 
   
 
   
 
   
 
     
 
[COUNTRYWIDE HOME LOANS, INC.]
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 


 
EXHIBIT E-2

ESCROW ACCOUNT LETTER AGREEMENT
 
___________________, 200_
 
To:    
 
 
 
  
 
 
(the “Depository”)
 
 
As Company under the Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002 Residential Adjustable Rate Mortgage Loans (the “Agreement”), we hereby authorize and request you to establish an account, as an Escrow Account pursuant to Section 4.07 of the Agreement, to be designated as “[Servicer], in trust for the Purchaser - Residential Adjustable Rate Mortgage Loans.” All deposits in the account shall be subject to withdrawal therefrom by order signed by the Company. You may refuse any deposit which would result in violation of the requirement that the account be fully insured as described below. This letter is submitted to you in duplicate. Please execute and return one original to us.
 
     
 
[COUNTRYWIDE HOME LOANS, INC.]
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 
 
Date: 

 


 
The undersigned, as Depository, hereby certifies that the above described account has been established under Account Number ______, at the office of the Depository indicated above, and agrees to honor withdrawals on such account as provided above. The full amount deposited at any time in the account will be insured by the Federal Deposit Insurance Corporation through the Bank Insurance Fund (“BIF”) or the Savings Association Insurance Fund (“SAIF”).
 
     
 
Depository
 
 
 
 
 
 
By:    
 
 
Name:  

 
 
Title: 

 
 
 
Date: 

 



EXHIBIT F
 
MONTHLY REMITTANCE ADVICE



 
EXHIBIT G
 
ASSIGNMENT AND ASSUMPTION
 
_________________, 200_
 
ASSIGNMENT AND ASSUMPTION, dated __________, between __________________________________, a ___________________ corporation having an office at __________________ (“Assignor”) and _________________________________, a __________________ corporation having an office at __________________ (“Assignee”):
 
For and in consideration of the sum of TEN DOLLARS ($10.00) and other valuable consideration the receipt and sufficiency of which hereby are acknowledged, and of the mutual covenants herein contained, the parties hereto hereby agree as follows:
 
1. The Assignor hereby grants, transfers and assigns to Assignee all of the right, title and interest of Assignor, as purchaser, in, to and under that certain Seller’s Warranties and Servicing Agreement, Residential Adjustable Rate Mortgage Loans (the “Seller’s Warranties and Servicing Agreement”), dated as of September 1, 2002, by and between EMC Mortgage Corporation (the “Purchaser”), and Countrywide Home Loans, Inc. (the “Company”), and the Mortgage Loans delivered thereunder by the Company to the Assignor.
 
2. The Assignor warrants and represents to, and covenants with, the Assignee that:
 
a. The Assignor is the lawful owner of the Mortgage Loans with the full right to transfer the Mortgage Loans free from any and all claims and encumbrances whatsoever;
 
b. The Assignor has not received notice of, and has no knowledge of, any offsets, counterclaims or other defenses available to the Company with respect to the Seller’s Warranties and Servicing Agreement or the Mortgage Loans;
 
c. The Assignor has not waived or agreed to any waiver under, or agreed to any amendment or other modification of, the Seller’s Warranties and Servicing Agreement, the Custodial Agreement or the Mortgage Loans, including without limitation the transfer of the servicing obligations under the Seller’s Warranties and Servicing Agreement. The Assignor has no knowledge of, and has not received notice of, any waivers under or amendments or other modifications of, or assignments of rights or obligations under, the Seller’s Warranties and Servicing Agreement or the Mortgage Loans; and
 
d. Neither the Assignor nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security from, or otherwise approached or negotiated with respect to the Mortgage Loans, any interest in the Mortgage Loans 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 which would constitute a distribution of the Mortgage Loans under the Securities Act of 1933 (the “33 Act”) or which would render the disposition of the Mortgage Loans a violation of Section 5 of the 33 Act or require registration pursuant thereto.
 
3. The Assignee warrants and represents to, and covenants with, the Assignor and the Company that:
 
a. The Assignee agrees to be bound, as Purchaser, by all of the terms, covenants and conditions of the Seller’s Warranties and Servicing Agreement, the Mortgage Loans and the Custodial Agreement, and from and after the date hereof, the Assignee assumes for the benefit of each of the Company and the Assignor all of the Assignor’s obligations as Purchaser thereunder;
 
b. The Assignee understands that the Mortgage Loans have not been registered under the 33 Act or the securities laws of any state;
 
c. The purchase price being paid by the Assignee for the Mortgage Loans are in excess of $250,000 and will be paid by cash remittance of the full purchase price within 60 days of the sale;
 
d. The Assignee is acquiring the Mortgage Loans for investment for its own account only and not for any other person. In this connection, neither the Assignee nor any Person authorized to act therefor has offered the Mortgage Loans by means of any general advertising or general solicitation within the meaning of Rule 502(c) of U.S. Securities and Exchange Commission Regulation D, promulgated under the 1933 Act;
 
e. The Assignee 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 Mortgage Loans;
 
f. The Assignee has been furnished with all informa¬tion regarding the Mortgage Loans that it has requested from the Assignor or the Company;
 
g. Neither the Assignee nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Mortgage Loans, any interest in the Mortgage Loans or any other similar security from, or otherwise approached or negotiated with respect to the Mortgage Loans, any interest in the Mortgage Loans or any other similar security with, any person in any manner which would constitute a distribution of the Mortgage Loans under the 33 Act or which would render the disposition of the Mortgage Loans a violation of Section 5 of the 33 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 Mortgage Loans; and
 
h. Either: (1) the Assignee is not an employee benefit plan (“Plan”) within the meaning of section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or a plan (also “Plan”) within the meaning of section 4975(e)(1) of the Internal Revenue Code of 1986 (“Code”), and the Assignee is not directly or indirectly purchasing the Mortgage Loans on behalf of, investment manager of, as named fiduciary of, as Trustee of, or with assets of, a Plan; or (2) the Assignee’s purchase of the Mortgage Loans will not result in a prohibited transaction under section 406 of ERISA or section 4975 of the Code.
 
i. The Assignee’s address for purposes of all notices and correspondence related to the Mortgage Loans and the Seller’s Warranties and Servicing Agreement is:
       
       
       
  Attention:    
 
The Assignee’s wire transfer instructions for purposes of all remittances and payments related to the Mortgage Loans and the Seller’s Warranties and Servicing Agreement are:
 
       
       
       
 
 

 
IN WITNESS WHEREOF, the parties have caused this Assignment and Assumption to be executed by their duly authorized officers as of the date first above written.

     
Assignor
 
Assignee
         
         
By:
   
By: 
 
Its: 
   
Its:
 



 
EXHIBIT H
 
UNDERWRITING GUIDELINES



 
EXHIBIT I
 
ACKNOWLEDGMENT AGREEMENT
 
On this ____ day of ____________, 200_, EMC Mortgage Corporation, (the “Purchaser”) as the Purchaser under that certain Seller’s Warranties and Servicing Agreement dated as of September 1, 2002, (the “Agreement”), does hereby contract with Countrywide Home Loans Inc. (the “Company”) as Company under the Agreement, for the servicing responsibilities related to the Mortgage Loans listed on the related Mortgage Loan Schedule attached hereto. The Company hereby accepts the servicing responsibilities transferred hereby and on the date hereof assumes all servicing responsibilities related to the Mortgage Loans identified on the related Mortgage Loan Schedule all in accordance with the Agreement. The contents of each Servicing File required to be delivered to service the Mortgage Loans pursuant to the Agreement have been or shall be delivered to the Company by the Purchaser in accordance with the terms of the Agreement.
 
With respect to the Mortgage Loans made subject to the Agreement hereby, the related Closing Date shall be ___________________.
 
All other terms and conditions of this transaction shall be governed by the Agreement.
 
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Agreement.
 
This Acknowledgment Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall constitute one and the same instrument.
 
IN WITNESS WHEREOF, the Purchaser and the Company have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
 
     
 
PURCHASER:
EMC MORTGAGE CORPORATION
 
 
 
 
 
 
By:  
 
 
Name:  

  Title:
 
     
 
SELLER:
COUNTRYWIDE HOME LOANS, INC.
 
 
 
 
 
 
By:  
 
 
Name:  

  Title:
 
 

 
 

AMENDMENT NUMBER ONE
to the
SELLER’S WARRANTIES AND SERVICING AGREEMENT
dated as of September 1, 2002
by and between
COUNTRYWIDE HOME LOANS, INC.
Company,
and
EMC MORTGAGE CORPORATION
Purchaser

This AMENDMENT NUMBER ONE is made this 1st day of January, 2003, by and between COUNTRYWIDE HOME LOANS, INC., having an address at 4500 Park Granada, Calabasas, California 91302 (the “Company”) and EMC MORTGAGE CORPORATION, having an address at Mac Arthur Ridge II, 909 Hidden Ridge Drive, Suite 200, Irving, Texas 75014-1358 (the “Purchaser”), to the Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, by and between the Company and the Purchaser (the “Agreement”).

RECITALS

WHEREAS, the Company and the Purchaser have agreed to amend the Agreement as set forth herein.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and for the mutual covenants herein contained, the parties hereto hereby agree as follows:

SECTION 1. Amendments. Effective as of January 1, 2003, the Agreement is hereby modified by making the following additions, deletions or modifications:
 
A)  
All references to “Residential Adjustable Rate Mortgage Loans” are hereby deleted in their entirety and replaced with “Residential Fixed and Adjustable Rate Mortgage Loans” in the following sections: (i) the cover page, (ii) Section 4.04, (iii) Section 4.06, (iv) Exhibit D-1, (v) Exhibit D-2, (vi) Exhibit E-1, (vii) Exhibit E-2, and (viii) Exhibit G.

B)  
The references to “adjustable rate” are hereby deleted and replaced with “fixed and adjustable rate” in the following sections: (i) the introductory sentence of the Agreement, and (ii) Section 3.01(i).

C)  
The definition of “Convertible Mortgage Loan” is hereby deleted in its entirety.

D)  
The definition of “5/1 ARM Mortgage Loan” is hereby deleted in its entirety.
 
E)  
The definition of “Gross Margin” is hereby modified by deleting it in its entirety and replacing it with the following:
 
Gross Margin: With respect to each adjustable rate Mortgage Loan, the fixed percentage amount set forth on the related Mortgage Note, which amount is added to the Index in accordance with the terms of the related Mortgage Note to determine on each Interest Rate Adjustment Date, the Mortgage Interest Rate for such Mortgage Loan.

F)  
The definition of “Index” is hereby modified by deleting it in its entirety and replacing it with the following:

Index: With respect to any adjustable rate Mortgage Loan, the index identified on the related Mortgage Loan Schedule and set forth in the related Mortgage Note for the purpose of calculating the Mortgage Interest Rate thereon.

G)  
The definition of “Initial Rate Cap” is hereby modified by deleting it in its entirety and replacing it with the following:
 
Initial Rate Cap: With respect to each adjustable rate Mortgage Loan and the initial Interest Rate Adjustment Date therefor, a number of percentage points per annum that is set forth in the related Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum amount by which the Mortgage Interest Rate for such adjustable rate Mortgage Loan may increase or decrease from the Mortgage Interest Rate in effect immediately prior to such Interest Rate Adjustment Date.
 
H)  
The definition of “LIBOR Mortgage Loan” is hereby deleted in its entirety.

I)  
The definition of “Lifetime Mortgage Interest Rate Cap” is hereby modified by deleting it in its entirety and replacing it with the following:
 
Lifetime Mortgage Interest Rate Cap: With respect to each adjustable rate Mortgage Loan, the absolute maximum Mortgage Interest Rate payable, above which the Mortgage Interest Rate cannot be adjusted.
 
J)  
The definition of “Mortgage Interest Rate” is hereby modified by deleting it in its entirety and replacing it with the following:
 
Mortgage Interest Rate: The annual rate at which Interest accrues on any Mortgage Loan, and with respect to adjustable rate Mortgage Loans, the annual rate at which Interest accrues as adjusted from time to time in accordance with the provisions of the related Mortgage Note and in compliance with the related Initial Rate Cap, Lifetime Mortgage Interest Rate Cap and Periodic Rate Cap, if any, of the related Mortgage Note.
 
K)  
The definition of “Mortgage Loan” is hereby modified by deleting it in its entirety and replacing it with the following:

Mortgage Loan: An individual fixed or adjustable rate Mortgage Loan which is the subject of this Agreement, each Mortgage Loan originally sold and subject to this Agreement being identified on the Mortgage Loan Schedule, which Mortgage Loan includes without limitation the Mortgage File, the Monthly Payments, Principal Prepayments, Liquidation Proceeds, condemnation proceeds, Insurance Proceeds, REO disposition proceeds, and all other rights, benefits, proceeds and obligations arising from or in connection with such Mortgage Loan.

L)  
The definition of “Non-Convertible Mortgage Loan” is hereby deleted in its entirety.

M)  
The definition of “Servicing Fee Rate” is hereby modified by deleting it in its entirety and replacing it with the following:

Servicing Fee Rate: (i) 0.25% per annum with respect to fixed rate Mortgage Loans and certain adjustable rate Mortgage Loans as specified on the Mortgage Loan Schedule, (ii) 0.375% per annum with respect to certain adjustable rate Mortgage Loans as specified on the Mortgage Loan Schedule, and (iii) 0.25% with respect to certain adjustable rate Mortgage Loans for the period prior to the initial Interest Rate Adjustment Date and 0.375% for the period following the initial Interest Rate Adjustment Date as specified in the Mortgage Loan Schedule.

N)  
The definition of “7/1 ARM Mortgage Loan” is hereby deleted in its entirety.

O)  
The definition of “10/1 ARM Mortgage Loan” is hereby deleted in its entirety.

P)  
The definition of “3/1 ARM Mortgage Loan” is hereby deleted in its entirety.

Q)  
The definition of “Treasury Rate Mortgage Loan” is hereby deleted in its entirety.

R)  
Section 3.01(c) is hereby modified by deleting the subpart in its entirety and replacing it with the following:
 
(c)  
No Conflicts; No Default. Neither the execution and delivery of this Agreement, the acquisition of the Mortgage Loans by the Company, the sale of the Mortgage Loans to the Purchaser or the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement, will conflict with or result in a breach of any of the terms, conditions or provisions of the Company’s charter or by-laws or any legal restriction or any agreement or instrument to which the Company is now a party or by which it is bound, or constitute a default or result in an acceleration under any of the foregoing, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Company or its property is subject, or impair the ability of the Purchaser to realize on the Mortgage Loans, or impair the value of the Mortgage Loans. The Company is not in default, and has received no notice of default, under this Agreement;
 
S)  
Section 3.01(d) is hereby modified by deleting the subpart in its entirety and replacing it with the following:
 
(d)  
Ability to Service. The Company is an approved seller/servicer of conventional residential mortgage loans for the United States Department of Housing and Urban Development (“HUD”), Fannie Mae, Freddie Mac, or any successor thereto, with the facilities, procedures, and experienced personnel necessary for the sound servicing of mortgage loans of the same type as the Mortgage Loans. The Company is in good standing to sell mortgage loans to and service mortgage loans for HUD, Fannie Mae or Freddie Mac, and no event has occurred, including but not limited to a change in insurance coverage, which would make the Company unable to comply with HUD, Fannie Mae or Freddie Mac eligibility requirements or which would require notification to either HUD, Fannie Mae or Freddie Mac;

T) The following shall be inserted as the last sentence of Section 3.02(f):
 
“To the best of Company’s knowledge, the Mortgaged Property is free of material damage;”

U)  
The first sentence of Section 3.02(k) is hereby modified by deleting the sentence in its entirety and replacing it with the following:
 
(k)  
Validity of Mortgage Documents. The Mortgage Note and the Mortgage are genuine, on forms generally acceptable to Fannie Mae and Freddie Mac, and each is the legal, valid and binding obligation of the maker thereof enforceable in accordance with its terms.
 
V)  
The following shall be inserted as the last sentence of Section 3.02(m):

“Upon recordation of the Mortgage Note, Purchaser or its designee will be the owner of record of the Mortgage and the indebtedness evidenced by the Mortgage Note. Upon the sale of the Mortgage Loans, Purchaser will own such Mortgage Loans free and clear of any encumbrance, equity, participation interest, pledge, change, claim or security interest.”

W)  
Section 3.02(t) is hereby modified by deleting the subpart in its entirety and replacing it with the following:
 
(t)  
Origination; Payment Terms. The Mortgage Loan was originated by either i) the Company, which is a FNMA-approved, FHLMC-approved and HUD-approved mortgage banker, or ii) an entity that is a FNMA-approved, FHLMC-approved and HUD-approved mortgage banker, or a savings and loan association, a savings bank, a commercial bank or similar banking institution which is supervised and examined by a Federal or state authority. The Mortgage Interest Rate for an adjustable rate Mortgage Loan is adjusted as set forth in the related Mortgage Note. The Mortgage Note is payable each month in monthly installments of principal and interest, with interest in arrears, and requires Monthly Payments sufficient to amortize the original principal balance of the Mortgage Loan over a term of no more than 30 years. Each convertible Mortgage Loan contains a provision whereby the Mortgagor is permitted to convert the Mortgage Loan to a fixed-rate mortgage loan. No Mortgage Loan has a provision for negative amortization;
 
X)  
Section 3.05 is hereby modified by deleting the section in its entirety and replacing it with the following:
 
Section 3.05  Repurchase Upon Conversion.

In the event the Mortgagor under any convertible Mortgage Loan elects to convert said Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage Note, then the Company shall repurchase the related Mortgage Loan in the month the conversion takes place and in the manner prescribed in Section 3.04 at the Repurchase Price.

Y)  
The following shall be inserted as the last sentence of Section 9.01:

“All indemnification provisions of this Agreement, including but not limited to those set forth in this Section 9.01, shall survive the termination of this Agreement.”

SECTION 2. Defined Terms. Any terms capitalized but not otherwise defined herein shall have the respective meanings set forth in the Agreement.
 
SECTION 3. Governing Law. THIS AMENDMENT NUMBER ONE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS DOCTRINE APPLIED IN SUCH STATE (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

SECTION 4. Counterparts. This Amendment Number One may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument.

SECTION 5. Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in accordance with its terms. Reference to this Amendment Number One need not be made in the Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Agreement, any reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended hereby.

[SIGNATURE PAGE FOLLOWS]


IN WITNESS WHEREOF, the Company and the Purchaser have caused this Amendment Number One to be executed and delivered by their duly authorized officers as of the day and year first above written.
 
             
COUNTRYWIDE HOME LOANS, INC.
(Company)
                           
                           
             
By:
 
             
Name:
 
             
Title:
 

             
EMC MORTGAGE CORPORATION
(Purchaser)
                           
                           
             
By:
 
             
Name:
 
             
Title:
 
 


 
 
This AMENDMENT No. 2 (the “Amendment”) is made this 1st day of September, 2004, by and between EMC Mortgage Corporation (the “Purchaser”) and Countrywide Home Loans, Inc. (the “Company”), to the Seller’s Warranties and Servicing Agreement dated as of September 1, 2002 (the “SWS Agreement”), by and between the Purchaser and the Company.
 
WHEREAS, the Purchaser and the Company desire to amend the SWS Agreement as set forth herein.
 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agrees as follows:
 
SECTION 1.           Defined Terms. Unless otherwise amended by the terms of this Amendment, terms used in this Amendment shall have the meanings assigned in the SWS Agreement.
 
SECTION 2.           Amendment. Effective as of September 1, 2004 the SWS Agreement is hereby amended as follows:
 
(a)           The following definition of Qualified Depository is modified by adding the word “fully” to it and now reads as follows:
 
Qualified Depository: A depository the accounts of which are fully insured by the FDIC through BIF or SAIF or the debt obligations of which are rated AA (or the equivalent rating category) or better by a national recognized statistical rating organization.
 
(b)           The following definition is added to Article I of the SWS Agreement:
 
Master Servicer: Wells Fargo Bank, National Association, or its successors in interest.
 
(c)           The definition of Business Day is deleted in its entirety and replaced with the following:
 
Business Day: Any day other than: (i) a Saturday or Sunday, or (ii) a legal holiday in the States of New York, California, Texas, Maryland or Minnesota, or (iii) a day on which banks in the States of New York, California, Texas, Maryland or Minnesota are authorized or obligated by law or executive order to be closed.
 
(d)           Clause (d) of Section 3.01 of the SWS Agreement is deleted in its entirety and replaced with the following:
 
(d)           Ability to Service. The Company is an approved servicer of conventional residential mortgage loans for Fannie Mae or Freddie Mac, with the facilities, procedures, and experienced personnel necessary for the sound servicing of mortgage loans of the same type as the Mortgage Loans. The Company is in good standing to service mortgage loans for Fannie Mae or Freddie Mac, and no event has occurred, including but not limited to a change in insurance coverage, which would make the Company unable to comply with Fannie Mae or Freddie Mac eligibility requirements or which would require notification to either Fannie Mae or Freddie Mac;
 
(e)           Section 3.02(oo) of the SWS Agreement is hereby deleted in its entirety and replaced with the following:
 
 
(oo)
No HOEPA or “High Cost” Loans. No Mortgage Loan is classified as a “high cost” mortgage loan under the Home Ownership and Equity Protection Act of 1994, as amended, nor is any Mortgage Loan a “high cost home,” “covered,” “high risk home” or “predatory” loan under any applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees) or any other statute or regulation providing assignee liability to holders of such mortgage loans.
 
(f)            The following representations and warranties are added to Section 3.02 of the SWS Agreement:
 
 
(xx)
No Mortgage Loan originated on or after October 1, 2002 through March 6, 2003 is secured by Mortgaged Property located in the State of Georgia;
 
 
(yy)
No Mortgage Loan originated on or after March 7, 2003 is a “high cost home loan” as defined under the Georgia Fair Lending Act;
 
 
(zz)
With respect to each Mortgage Loan, accurate and complete information regarding the borrower credit files related to such Mortgage Loan has been furnished on a monthly basis to credit reporting agencies in compliance with the provisions of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and the applicable implementing regulations.
 
(g)           The following shall be added as the second sentence of the third paragraph of Section 4.01 of the SWS Agreement:
 
In addition, the Company shall furnish information regarding the borrower credit files related to such Mortgage Loan to credit reporting agencies in compliance with the provisions of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and the applicable implementing regulations, on a monthly basis.
 
(h)           Section 6.04 of the SWS Agreement is deleted in its entirety and replaced with the following:
 
Section 6.04     Annual Statement as to Compliance.
 
The Company will deliver to the Master Servicer on or before March 15 of each year, beginning with March 15, 2005 an Officer’s Certificate in a form acceptable for filing with the Securities and Exchange Commission as an exhibit to a Form 10-K stating that (i) a review of the activities of the Company during the preceding calendar year and of performance under this Agreement has been made under such officer’s supervision, (ii) the Company has fully complied with the servicing provisions of this Agreement and (iii) to the best of such officer’s knowledge, based on such review, the Company has fulfilled all of its obligations under this Agreement throughout such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to such officer and the nature and status thereof. (“Annual Statement of Compliance”)
 
(i)           Section 6.05 of the SWS Agreement is deleted in its entirety and replaced with the following:
 
Section 6.05     Annual Independent Certified Public Accountants’ Servicing Report.
 
On or before March 15 of each year, beginning with March 15, 2005, the Company at its expense shall cause a firm of independent public accountants which is a member of the American Institute of Certified Public Accountants to furnish a statement to the Master Servicer in a form acceptable for filing with the Securities and Exchange Commission as an exhibit to a Form 10-K to the effect that such firm has examined certain documents and records relating to the servicing of mortgage loans by the Company generally that include a sampling of the Mortgage Loans, the provisions of Article II and Article IV of this Agreement have been complied with and, on the basis of such an examination conducted substantially in accordance with the Uniform Single Attestation Program for Mortgage Bankers, such servicing has been conducted in compliance with this Agreement, except for (i) such exceptions as such firm shall believe to be immaterial, and (ii) such other exceptions as shall be set forth in such statement. (“Annual Independent Public Accountant’s Servicing Report”)
 
(j)           The following is added as Section 6.07 of the SWS Agreement:
 
Section 6.07     Annual Certification.
 
(a)           For so long as (1) the Mortgage Loans are being master serviced by the Master Servicer and (2) the Master Servicer is required by Section 302 of the Sarbanes-Oxley Act of 2002 to provide an annual certification, by March 15th of each year, beginning with March 15, 2005 (or if not a Business Day, the immediately preceding Business Day), an officer of the Company shall execute and deliver an Officer’s Certificate to the Master Servicer for the benefit of such Master Servicer and its officers, directors and affiliates, certifying as to the following matters:
 
(i)           Based on my knowledge, the information in the Annual Statement of Compliance, the Annual Independent Public Accountant’s Servicing Report and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans submitted to the Master Servicer taken as a whole, does 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 as of the last day of the period covered by such statements or reports;
 
(ii)          Based on my knowledge, the servicing information required to be provided to the Master Servicer by the Company under this Servicing Agreement has been provided to the Master Servicer;
 
(iii)         I am responsible for reviewing the activities performed by the Company under the Servicing Agreement and based upon my knowledge and the review required by this Servicing Agreement, and except as disclosed in the Annual Statement of Compliance or the Annual Independent Public Accountant’s Servicing Report submitted to the Master Servicer, the Servicer has, as of the last day of the period covered by the Annual Statement of Compliance, fulfilled its obligations under this Servicing Agreement; and
 
(iv)         I have disclosed to the Master Servicer all significant deficiencies relating to the Company’s compliance with the minimum servicing standards in accordance with a review conducted in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar standard as set forth in the Servicing Agreement.
 
(b)          The Company shall indemnify and hold harmless the Master Servicer and its officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Company or any of its officers, directors, agents or affiliates of its obligations under this Section 6.07 or the negligence, bad faith or willful misconduct of the Company in connection therewith. If the indemnification provided for herein is unavailable in whole or in part for any reason, then the Company agrees that it shall contribute to the amount paid or payable by the Master Servicer as a result of the losses, claims, damages or liabilities of the Master Servicer in such proportion as is appropriate to reflect the relative fault of the Company, in connection with a breach of the Company’s obligations under this Section 6.07 or the Company’s negligence, bad faith or willful misconduct in connection therewith.
 
(k)           Section 10.01 is hereby modified by adding the word “or” at the end of clause (ix) thereof and inserting the following as clause (x):
 
(x)           failure by the Company to duly perform, within the required time period, its obligations under Section 6.04, 6.05 or 6.07 which failure continues unremedied for a period of ten (10) days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Company by any party to this Servicing Agreement or by any master servicer responsible for master servicing the Mortgage Loans pursuant to a securitization of such Mortgage Loans.
 
(l)           Section 12.03 of the SWS Agreement is deleted in its entirety and replaced with the following:
 
Section 12.03     Governing Law.
 
This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to principles of conflicts of laws and except to the extent preempted by Federal law and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.
 
SECTION 3.      Effect of Amendment. Upon execution of this Amendment, the SWS Agreement shall be, and be deemed to be, modified and amended in accordance herewith and the respective rights, limitations, obligations, duties, liabilities and immunities of the Purchaser and the Company shall hereafter be determined, exercised and enforced subject in all respects to such modifications and amendments, and all the terms and conditions of this Amendment shall be deemed to be part of the terms and conditions of the SWS Agreement for any and all purposes. Except as modified and expressly amended by this Amendment, the SWS Agreement is in all respects ratified and confirmed, and all the terms, provisions and conditions thereof shall be and remain in full force and effect.
 
SECTION 4.      Binding Effect. The provisions of this Amendment shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Purchaser and the Company.
 
SECTION 5.      Severability of Provisions. If any one or more of the provisions or terms of this Amendment shall be for any reason whatsoever held invalid, then such provisions or terms shall be deemed severable from the remaining provisions or terms of this Amendment and shall in no way affect the validity or enforceability of the other provisions or terms of this Amendment.
 
SECTION 6.       Section Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.
 
SECTION 7.      Execution in Counterparts. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be executed by the parties hereto and be deemed an original and all of which shall constitute together by one and the same agreement.
 
SECTION 8.      Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICT OF LAW PRINCIPLES, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.


 
IN WITNESS WHEREOF, the parties have caused this Amendment to the SWS Agreement to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
 
     
  EMC MORTGAGE CORPORATION
 
 
 
 
 
 
  By:    
  Name:  
  Title:
   
 
 
     
  COUNTRYWIDE HOME LOANS, INC.
 
 
 
 
 
 
  By:    
  Name:  
  Title:
 
 
 
 
 

 
 
This AMENDMENT No. 3 (the “Amendment”) is made this 1st day of May, 2005, by and between EMC Mortgage Corporation (the “Purchaser”) and Countrywide Home Loans, Inc. (the “Company”), to the Seller’s Warranties and Servicing Agreement dated as of September 1, 2002 (the “SWS Agreement”), by and between the Purchaser and the Company.
 
WHEREAS, the Purchaser and the Company desire to amend the SWS Agreement as set forth herein.
 
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agrees as follows:
 
SECTION 1.          Defined Terms. Unless otherwise amended by the terms of this Amendment, terms used in this Amendment shall have the meanings assigned in the SWS Agreement.
 
SECTION 2.          Amendment. Effective as of May 1, 2005 the SWS Agreement is hereby amended as follows:
 
(a)           The following representation and warranty is added to Section 3.02 of the SWS Agreement:
 
 
(aaa)
Any Mortgage Loan with a Mortgaged Property in the State of Illinois complies with the Illinois Interest Act.
 
SECTION 3. Effect of Amendment. Upon execution of this Amendment, the SWS Agreement shall be, and be deemed to be, modified and amended in accordance herewith and the respective rights, limitations, obligations, duties, liabilities and immunities of the Purchaser and the Company shall hereafter be determined, exercised and enforced subject in all respects to such modifications and amendments, and all the terms and conditions of this Amendment shall be deemed to be part of the terms and conditions of the SWS Agreement for any and all purposes. Except as modified and expressly amended by this Amendment, the SWS Agreement is in all respects ratified and confirmed, and all the terms, provisions and conditions thereof shall be and remain in full force and effect.
 
SECTION 4. Binding Effect. The provisions of this Amendment shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto, and all such provisions shall inure to the benefit of the Purchaser and the Company.
 
SECTION 5. Severability of Provisions. If any one or more of the provisions or terms of this Amendment shall be for any reason whatsoever held invalid, then such provisions or terms shall be deemed severable from the remaining provisions or terms of this Amendment and shall in no way affect the validity or enforceability of the other provisions or terms of this Amendment.
 
SECTION 6. Section Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.
 
SECTION 7. Execution in Counterparts. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be executed by the parties hereto and be deemed an original and all of which shall constitute together by one and the same agreement.
 
SECTION 8.  Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO CONFLICT OF LAW PRINCIPLES, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.


 
IN WITNESS WHEREOF, the parties have caused this Amendment to the SWS Agreement to be executed by their respective officers thereunto duly authorized as of the day and year first above written.
 
     
  EMC MORTGAGE CORPORATION
 
 
 
 
 
 
  By:    
  Name:  
  Title:
   
 
 
     
  COUNTRYWIDE HOME LOANS, INC.
 
 
 
 
 
 
  By:    
  Name:  
  Title:
 
 
 
 
 

 
 
 

EXECUTION VERSION
AMENDMENT REG AB
TO THE MASTER MORTGAGE LOAN PURCHASEAND SERVICING AGREEMENT

 
This is Amendment Reg AB (“Amendment Reg AB”), dated as of January 1, 2006, by and between EMC Mortgage Corporation (the “Purchaser”), and Countrywide Home Loans, Inc. (the “Company”) to that certain Seller’s Warranties and Servicing Agreement dated as of September 1, 2002 by and between the Company and the Purchaser (as amended, modified or supplemented, the “Existing Agreement”).
 
W I T N E S S E T H
 
WHEREAS, the Company and the Purchaser have agreed, subject to the terms and conditions of this Amendment Reg AB that the Existing Agreement be amended to reflect agreed upon revisions to the terms of the Existing Agreement.
 
Accordingly, the Company and the Purchaser hereby agree, in consideration of the mutual premises and mutual obligations set forth herein, that the Existing Agreement is hereby amended as follows:

1. Capitalized terms used herein but not otherwise defined shall have the meanings set forth in the Existing Agreement. The Existing Agreement is hereby amended by adding the following definitions in their proper alphabetical order:

Commission: The United States Securities and Exchange Commission.

Company Information: As defined in Section 2(g)(i)(A)(1).

Depositor: The depositor, as such term is defined in Regulation AB, with respect to any Securitization Transaction.

Exchange Act: The Securities Exchange Act of 1934, as amended.

Master Servicer: With respect to any Securitization Transaction, the “master servicer,” if any, identified in the related transaction documents.

Qualified Correspondent: Any Person from which the Company purchased Mortgage Loans, provided that the following conditions are satisfied: (i) such Mortgage Loans were either (x) originated pursuant to an agreement between the Company and such Person that contemplated that such Person would underwrite mortgage loans from time to time, for sale to the Company, in accordance with underwriting guidelines designated by the Company (“Designated Guidelines”) or guidelines that do not vary materially from such Designated Guidelines or (y) individually re-underwritten by the Company to the Designated Guidelines at the time such Mortgage Loans were acquired by the Company; (ii) either (x) the Designated Guidelines were, at the time such Mortgage Loans were originated, used by the Company in origination of mortgage loans of the same type as the Mortgage Loans for the Company’s own account or (y) the Designated Guidelines were, at the time such Mortgage Loans were underwritten, designated by the Company on a consistent basis for use by lenders in originating mortgage loans to be purchased by the Company; and (iii) the Company employed, at the time such Mortgage Loans were acquired by the Company, pre-purchase or post-purchase quality assurance procedures (which may involve, among other things, review of a sample of mortgage loans purchased during a particular time period or through particular channels) designed to ensure that either Persons from which it purchased mortgage loans properly applied the underwriting criteria designated by the Company or the Mortgage Loans purchased by the Company substantially comply with the Designated Guidelines.

Reconstitution: Any Securitization Transaction or Whole Loan Transfer.

Reconstitution Agreement: An agreement or agreements entered into by the Company and the Purchaser and/or certain third parties in connection with a Reconstitution with respect to any or all of the Mortgage Loans serviced under the Agreement.

Regulation AB: Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R. §§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 (Jan. 7, 2005)) or by the staff of the Commission, or as may be provided by the Commission or its staff from time to time.

Securities Act: The Securities Act of 1933, as amended.

Securitization Transaction: Any transaction subject to Regulation AB involving either (1) a sale or other transfer of some or all of the Mortgage Loans directly or indirectly to an issuing entity in connection with an issuance of publicly offered, rated or unrated mortgage-backed securities or (2) an issuance of publicly offered, rated or unrated securities, the payments on which are determined primarily by reference to one or more portfolios of residential mortgage loans consisting, in whole or in part, of some or all of the Mortgage Loans.

Servicer: As defined in Section 2(c)(iii).

Servicing Criteria: The “servicing criteria” set forth in Item 1122(d) of Regulation AB, as such may be amended from time to time.

Static Pool Information: Static pool information as described in Item 1105 of Regulation AB.

Subcontractor: Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of the Company or a Subservicer.

Subservicer: Any Person that services Mortgage Loans on behalf of the Company or any Subservicer and is responsible for the performance (whether directly or through Subservicers or Subcontractors) of a substantial portion of the material servicing functions required to be performed by the Company under this Agreement or any Reconstitution Agreement that are identified in Item 1122(d) of Regulation AB; provided, however, that the term “Subservicer” shall not include any master servicer other than the Company, or any special servicer engaged at the request of a Depositor, Purchaser or investor in a Securitization Transaction, nor any “back-up servicer” or trustee performing servicing functions on behalf of a Securitization Transaction engaged at the request of a Depositor, Purchaser, or investor in a Securitization Transaction.

Third-Party Originator: Each Person, other than a Qualified Correspondent, that originated Mortgage Loans acquired by the Company.

Whole Loan Transfer: Any sale or transfer of some or all of the Mortgage Loans, other than a Securitization Transaction.

2. The Purchaser and the Company agree that the Existing Agreement is hereby amended by adding the following provisions:

(a) Intent of the Parties; Reasonableness.

The Purchaser and the Company acknowledge and agree that the purpose of Article 2 of this Agreement is to facilitate compliance by the Purchaser and any Depositor with the provisions of Regulation AB and related rules and regulations of the Commission. Neither the Purchaser nor any Depositor shall 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 thereunder. Although Regulation AB is applicable by its terms only to offerings of asset-backed securities that are registered under the Securities Act, the parties acknowledges that investors in privately offered securities may require that the Purchaser or any Depositor provide comparable disclosure in unregistered offerings. The parties agree over time to negotiate in good faith with respect to the provision of comparable disclosure in private offerings. The Company 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. The Company agrees to negotiate in good faith with the Purchaser or any Depositor with regard to any reasonable requests for delivery of information under these provisions on the basis of evolving interpretations of Regulation AB. In connection with any Securitization Transaction, the Company shall cooperate fully with the Purchaser to deliver to the Purchaser (including any of its assignees or designees) and any Depositor, any and all statements, reports, certifications, records and any other information necessary to permit the Purchaser or such Depositor to comply with the provisions of Regulation AB, together with such disclosures relating to the Company, and any parties or items identified in writing by the Purchaser, including, any Subservicer, any Third-Party Originator and the Mortgage Loans, or the servicing of the Mortgage Loans necessary in order to effect such compliance, in the Purchaser’s or Depositor’s reasonable determination.

The Purchaser agrees that it will cooperate with the Company and provide sufficient and timely notice of any information requirements pertaining to a Securitization Transaction. The Purchaser will make all reasonable efforts to limit requests for information, reports or any other materials to items the Purchaser reasonably believes is required for compliance with Regulation AB, and shall not request information which is not required for such compliance.

(b) Additional Representations and Warranties of the Company.

(i) The Company shall be deemed to represent to the Purchaser and to any Depositor, as of the date on which information is first provided to the Purchaser or any Depositor under Section 2(c) that, except as disclosed in writing to the Purchaser or such Depositor prior to such date: (i) the Company is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as to any other securitization due to any act or failure to act of the Company; (ii) the Company has not been terminated as servicer in a residential mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger; (iii) no material noncompliance with the applicable servicing criteria with respect to other securitizations of residential mortgage loans involving the Company as servicer has been disclosed or reported by the Company; (iv) no material changes to the Company’s policies or procedures with respect to the servicing function it will perform under this Agreement and any Reconstitution Agreement for mortgage loans of a type similar to the Mortgage Loans have occurred during the three-year period immediately preceding the related Securitization Transaction; (v) there are no aspects of the Company’s financial condition that could have a material adverse effect on the performance by the Company of its servicing obligations under this Agreement or any Reconstitution Agreement; (vi) there are no material legal or governmental proceedings pending (or known to be contemplated) against the Company, any Subservicer or any Third-Party Originator; and (vii) there are no affiliations, relationships or transactions relating to the Company, any Subservicer or any Third-Party Originator with respect to any Securitization Transaction and any party thereto identified by the related Depositor of a type described in Item 1119 of Regulation AB.

(ii) If so requested by the Purchaser or any Depositor on any date following the date on which information is first provided to the Purchaser or any Depositor under Section 2(c), the Company shall, within five Business Days following such request, confirm in writing the accuracy of the representations and warranties set forth in paragraph (i) of this Section or, if any such representation and warranty is not accurate as of the date of such request, provide reasonably adequate disclosure of the pertinent facts, in writing, to the requesting party.

(c) Information to Be Provided by the Company.

In connection with any Securitization Transaction the Company shall (1) within five Business Days following request by the Purchaser or any Depositor, provide to the Purchaser and such Depositor (or, as applicable, cause each Third-Party Originator and each Subservicer to provide), in writing reasonably required for compliance with Regulation AB, the information and materials specified in paragraphs (i), (ii), (iii) and (vi) of this Section 2(c), and (2) as promptly as practicable following notice to or discovery by the Company, provide to the Purchaser and any Depositor (as required by Regulation AB) the information specified in paragraph (iv) of this Section.

(i) If so requested by the Purchaser or any Depositor, the Company shall provide such information regarding (x) the Company, as originator of the Mortgage Loans (including as an acquirer of Mortgage Loans from a Qualified Correspondent, if applicable), or (y) as applicable, each Third-Party Originator, and (z) as applicable, each Subservicer, as is requested for the purpose of compliance with Items 1103(a)(1), 1105 (subject to paragraph (b) below), 1110, 1117 and 1119 of Regulation AB. Such information shall include, at a minimum:

(A) the originator’s form of organization;

(B) to the extent material, a description of the originator’s origination program and how long the originator has been engaged in originating residential mortgage loans, which description shall include a discussion of the originator’s experience in originating mortgage loans of a similar type as the Mortgage Loans; if material, information regarding the size and composition of the originator’s origination portfolio; and information that may be material to an analysis of the performance of the Mortgage Loans, including the originators’ credit-granting or underwriting criteria for mortgage loans of similar type(s) as the Mortgage Loans and such other information as the Purchaser or any Depositor may reasonably request for the purpose of compliance with Item 1110(b)(2) of Regulation AB;

(C) a brief description of any material legal or governmental proceedings pending (or known to be contemplated by a governmental authority) against the Company, each Third-Party Originator, if applicable, and each Subservicer; and

(D) a description of any affiliation or relationship between the Company, each Third-Party Originator, if applicable, each Subservicer and any of the following parties to a Securitization Transaction, as such parties are identified to the Company by the Purchaser or any Depositor in writing or in the related Reconstitution Agreement within five Business Days in advance of such Securitization Transaction:

 
(1)
the sponsor;
 
(2)
the depositor;
 
(3)
the issuing entity;
 
(4)
any servicer;
 
(5)
any trustee;
 
(6)
any originator;
 
(7)
any significant obligor;
 
(8)
any enhancement or support provider; and
 
(9)
any other material transaction party.

(ii) If so requested by the Purchaser or any Depositor, and required by Regulation AB or as otherwise agreed upon by the Company, the Purchaser and/or the Depositor, the Company shall provide (or, as applicable, cause each Third-Party Originator to provide) Static Pool Information with respect to the mortgage loans (of a similar type as the Mortgage Loans, as reasonably identified by the Purchaser as provided below) originated by (a) the Company, if the Company is an originator of Mortgage Loans (including as an acquirer of Mortgage Loans from a Qualified Correspondent, if applicable), and/or (b) as applicable, each Third-Party Originator. Such Static Pool Information shall be prepared by the Company (or, if applicable, the Third-Party Originator) on the basis of its reasonable, good faith interpretation of the requirements of Item 1105(a)(1)-(3) of Regulation AB. To the extent that there is reasonably available to the Company (or Third-Party Originator, as applicable) Static Pool Information with respect to more than one mortgage loan type, the Purchaser or any Depositor shall be entitled to specify whether some or all of such information shall be provided pursuant to this paragraph. The content of such Static Pool Information may be in the form customarily provided by the Company, and need not be customized for the Purchaser or any Depositor. Such Static Pool Information for each vintage origination year or prior securitized pool, as applicable, shall be presented in increments no less frequently than quarterly over the life of the mortgage loans included in the vintage origination year or prior securitized pool. The most recent periodic increment must be as of a date no later than 135 days prior to the date of the prospectus or other offering document in which the Static Pool Information is to be included or incorporated by reference. The Static Pool Information shall be provided in an electronic format that provides a permanent record of the information provided, such as a portable document format (pdf) file, or other such electronic format.

Promptly following notice or discovery of a material error (as determined in Company’s sole discretion), in Static Pool Information provided pursuant to the immediately preceding paragraph (including an omission to include therein information required to be provided pursuant to such paragraph), the Company shall provide corrected Static Pool Information to the Purchaser or any Depositor, as applicable, in the same format in which Static Pool Information was previously provided to such party by the Company.

If so requested by the Purchaser or any Depositor, the Company shall provide (or, as applicable, cause each Third-Party Originator to provide), at the expense of the requesting party (to the extent of any additional incremental expense associated with delivery pursuant to this Agreement), agreed-upon procedures letters of certified public accountants pertaining to Static Pool Information relating to prior securitized pools for securitizations closed on or after January 1, 2006 or, in the case of Static Pool Information with respect to the Company’s or, if applicable, Third-Party Originator’s originations or purchases, to calendar months commencing January 1, 2006, as the Purchaser or such Depositor shall reasonably request. Such statements and letters shall be addressed to and be for the benefit of such parties as the Purchaser or such Depositor shall designate, which shall be limited to any Sponsor, any Depositor, any broker dealer acting as underwriter, placement agent or initial purchaser with respect to a Securitization Transaction or any other party that is reasonably and customarily entitled to receive such statements and letters in a Securitization Transaction. Any such statement or letter may take the form of a standard, generally applicable document accompanied by a reliance letter authorizing reliance by the addressees designated by the Purchaser or such Depositor.

(iii) If reasonably requested by the Purchaser or any Depositor, the Company shall provide such information regarding the Company, as servicer of the Mortgage Loans, and each Subservicer (each of the Company and each Subservicer, for purposes of this paragraph, a “Servicer”), as is reasonably requested for the purpose of compliance with Item 1108 of Regulation AB. Such information shall include, at a minimum:

(A) the Servicer’s form of organization;
 
(B) a description of how long the Servicer has been servicing residential mortgage loans; a general discussion of the Servicer’s experience in servicing assets of any type as well as a more detailed discussion of the Servicer’s experience in, and procedures for, the servicing function it will perform under this Agreement and any Reconstitution Agreements; information regarding the size, composition and growth of the Servicer’s portfolio of residential mortgage loans of a type similar to the Mortgage Loans and information on factors related to the Servicer that may be material, in the reasonable determination of the Purchaser or any Depositor, to any analysis of the servicing of the Mortgage Loans or the related asset-backed securities, as applicable, including, without limitation:
 
(1) whether any prior securitizations of mortgage loans of a type similar to the Mortgage Loans involving the Servicer have defaulted or experienced an early amortization or other performance triggering event because of servicing during the three-year period immediately preceding the related Securitization Transaction;
(2) the extent of outsourcing the Servicer utilizes;
(3) whether there has been previous disclosure of material noncompliance with the applicable servicing criteria with respect to other securitizations of residential mortgage loans involving the Servicer as a servicer during the three-year period immediately preceding the related Securitization Transaction;
(4) whether the Servicer has been terminated as servicer in a residential mortgage loan securitization, either due to a servicing default or to application of a servicing performance test or trigger; and
(5) such other information as the Purchaser or any Depositor may reasonably request for the purpose of compliance with Item 1108(b)(2) of Regulation AB;
 
(C) a description of any material changes during the three-year period immediately preceding the related Securitization Transaction to the Servicer’s policies or procedures with respect to the servicing function it will perform under this Agreement and any Reconstitution Agreements for mortgage loans of a type similar to the Mortgage Loans;
 
(D) information regarding the Servicer’s financial condition, to the extent that there is a material risk that an adverse financial event or circumstance involving the Servicer could have a material adverse effect on the performance by the Company of its servicing obligations under this Agreement or any Reconstitution Agreement;
 
(E) information regarding advances made by the Servicer on the Mortgage Loans and the Servicer’s overall servicing portfolio of residential mortgage loans for the three-year period immediately preceding the related Securitization Transaction, which may be limited to a statement by an authorized officer of the Servicer to the effect that the Servicer has made all advances required to be made on residential mortgage loans serviced by it during such period, or, if such statement would not be accurate, information regarding the percentage and type of advances not made as required, and the reasons for such failure to advance;
 
(F) a description of the Servicer’s processes and procedures designed to address any special or unique factors involved in servicing loans of a similar type as the Mortgage Loans;

(G) a description of the Servicer’s processes for handling delinquencies, losses, bankruptcies and recoveries, such as through liquidation of mortgaged properties, sale of defaulted mortgage loans or workouts; and

(H) information as to how the Servicer defines or determines delinquencies and charge-offs, including the effect of any grace period, re-aging, restructuring, partial payments considered current or other practices with respect to delinquency and loss experience.

(iv) For the purpose of satisfying its reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company shall (or shall cause each Subservicer and, if applicable, any Third-Party Originator to) (a) provide notice within two (2) Business Days to the Purchaser, any Master Servicer and any Depositor in writing of (1) any merger, consolidation or sale of substantially all of the assets of the Company, (2) the Company’s entry into an agreement with a Subservicer to perform or assist in the performance of any of the Company’s obligations under the Agreement or any Reconstitution Agreement that qualifies as an “entry into a material definitive agreement” under Item 1.01 of the form 8-K, and (b) provide prompt notice to the Purchaser, the Master Servicer and the Depositor of (1) any Event of Default under the terms of the Agreement or any Reconstitution Agreement to the extent not known by such Purchaser, Master Servicer or Depositor, and (2) any material litigation or governmental proceedings involving the Company, any Subservicer or any Third Party Originator.

(v) To the extent the Purchaser or any Depositor does not itself have an affiliation or relationship required to be disclosed under Item 1119 of Regulation AB that develops following the closing date of a Securitization Transaction, the Company shall provide to the Purchaser and any Depositor a description of any such affiliation or relationship involving the Company, any Subservicer or any Third-Party Originator no later than 15 calendar days prior to the date the Depositor is required to file its Form 10-K disclosing such affiliation or relationship. For purposes of the foregoing, the Company (1) shall be entitled to assume that the parties to the Securitization Transaction with whom affiliations or relations must be disclosed are the same as on the closing date if it provides a written request (which may be by e-mail) to the Depositor or Master Servicer, as applicable, requesting such confirmation and either obtains such confirmation or receives no response within three (3) Business Days, (2) shall not be obligated to disclose any affiliations or relationships that may develop after the closing date for the Securitization Transaction with any parties not identified to the Company pursuant to clause (D) of paragraph (i) of this Section 2(c), and (3) shall be entitled to rely upon any written identification of parties provided by the Depositor, the Purchaser or any master servicer.


(v) As a condition to the succession to the Company or any Subservicer as servicer or subservicer under this Agreement or any applicable Reconstitution Agreement related thereto by any Person (i) into which the Company or such Subservicer may be merged or consolidated, or (ii) which may be appointed as a successor to the Company or any Subservicer, the Company shall provide to the Purchaser, any Master Servicer, and any Depositor, at least 15 calendar days prior to the effective date of such succession or appointment, (x) written notice to the Purchaser and any Depositor of such succession or appointment and (y) in writing, all information reasonably requested by the Purchaser or any Depositor in order to comply with its reporting obligation under Item 6.02 of Form 8-K with respect to any class of asset-backed securities.

(vi) Not later than ten days prior to the deadline for the filing of any distribution report on Form 10-D in respect of any Securitization Transaction that includes any of the Mortgage Loans serviced by the Company, the Company shall, to the extent the Company has knowledge, provide to the party responsible for filing such report (including, if applicable, the Master Servicer) notice of the occurrence of any of the following events along with all information, data, and materials related thereto as may be required to be included in the related distribution report on Form 10-D (as specified in the provisions of Regulation AB referenced below):
 
(a) any material modifications, extensions or waivers of Mortgage Loan terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time (Item 1121(a)(11) of Regulation AB);
 
(b) material breaches of Mortgage Loan representations or warranties or transaction covenants under the Existing Agreement, as amended herein (Item 1121(a)(12) of Regulation AB): and
 
(c) information regarding any Mortgage Loan changes (such as, additions, substitutions or repurchases) and any material changes in origination, underwriting, or other criteria for acquisition or selection of pool assets (Item 1121(a)(14) of Regulation AB).

(vii) In addition to such information as the Company, as servicer, is obligated to provide pursuant to other provisions of this Agreement, if reasonably requested by the Purchaser or any Depositor, the Company shall provide such information which is available to the Company, regarding the servicing of the Mortgage Loans as is reasonably required to facilitate preparation of distribution reports in accordance with Item 1121 of Regulation AB.

(d) Servicer Compliance Statement.

On or before March 5 of each calendar year, commencing in 2007, the Company shall deliver to the Purchaser and any Depositor a statement of compliance addressed to the Purchaser and such Depositor and signed by an authorized officer of the Company, to the effect that (i) a review of the Company’s servicing activities during the immediately preceding calendar year (or applicable portion thereof) and of its performance under the servicing provisions of this Agreement and any applicable Reconstitution Agreement during such period has been made under such officer’s supervision, and (ii) to the best of such officers’ knowledge, based on such review, the Company has fulfilled all of its servicing obligations under this Agreement and any applicable Reconstitution Agreement in all material respects throughout such calendar year (or applicable portion thereof) or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such officer and the nature and the status thereof.

(e) Report on Assessment of Compliance and Attestation.

(i) On or before March 5 of each calendar year, commencing in 2007, the Company shall:

(A) deliver to the Purchaser and any Depositor a report regarding the Company’s assessment of compliance with the 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 addressed to the Purchaser and such Depositor and signed by an authorized officer of the Company, and shall address each of the applicable Servicing Criteria specified on a certification substantially in the form of Exhibit A hereto (wherein “investor” shall mean the Master Servicer) delivered to the Purchaser concurrently with the execution of this Agreement;

(B) deliver to the Purchaser and any Depositor a report of a registered public accounting firm that attests to, and reports on, the assessment of compliance made by the Company 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;

(C) if required by Regulation AB, cause each Subservicer and each Subcontractor determined by the Company pursuant to Section 2(f)(ii) to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB (each, a “Participating Entity”), to deliver to the Purchaser and any Depositor an assessment of compliance and accountants’ attestation as and when provided in paragraphs (A) and (B) of this Section 2(e)(i); and

(D) deliver or, if required by Regulation AB, cause each Subservicer and Subcontractor described in Section 2(e)(i)(C) above to deliver to the Purchaser, Depositor or any other Person that will be responsible for signing the certification (a “Sarbanes Certification”) required by Rules 13a-14(d) and 15d-14(d) under the Exchange Act (pursuant to Section 302 of the Sarbanes-Oxley Act of 2002) on behalf of an asset-backed issuer with respect to a Securitization Transaction a certification, signed by the appropriate officer of the Company, in the form attached hereto as Exhibit B; provided that such certification delivered by the Company may not be filed as an exhibit to, or included in, any filing with the Commission.

The Company acknowledges that the party identified in clause (i)(D) above may rely on the certification provided by the Company pursuant to such clause in signing a Sarbanes Certification and filing such with the Commission. Neither the Purchaser nor any Depositor will request deliver of a certification under clause (D) above unless the Purchaser, Depositor or any other Person is required under the Exchange Act to file an annual report on Form 10-K with respect to an issuing entity whose asset pool includes Mortgage Loans.

(ii) Each assessment of compliance provided by a Subservicer pursuant to Section 2(e)(i)(A) shall address each of the applicable Servicing Criteria specified on a certification substantially in the form of Exhibit A hereto delivered to the Purchaser concurrently with the execution of this Agreement or, in the case of a Subservicer subsequently appointed as such, on or prior to the date of such appointment. An assessment of compliance provided by a Participating Entity pursuant to Section 2(e)(i)(C) need not address any elements of the Servicing Criteria other than those specified by the Company pursuant to Section 2(f).

(iii) If reasonably requested by the Purchaser or any Depositor, the Company shall provide to the Purchaser, any Master Servicer or any Depositor, evidence of the authorization of the person signing any certification or statement pursuant to Section 2(d) or 2(e) of this Agreement.

(f) Use of Subservicers and Subcontractors.

The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).

(i) It shall not be necessary for the Company to seek the consent of the Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(d), and 2(e) of this Agreement , and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Agreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.

(ii) It shall not be necessary for the Company to seek the consent of the Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph.

The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser and any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.

(g) Indemnification; Remedies.

(i) The Company shall indemnify the Purchaser and each of the following parties participating in a Securitization Transaction: each sponsor and issuing entity; each Person responsible for the execution or filing of any report required to be filed with the Commission with respect to such Securitization Transaction, or for execution of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such Securitization Transaction; each Person who controls any of such parties (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act); and the respective present and former directors, officers and employees of each of the foregoing and of the Depositor, 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:

(A)(1) any untrue statement of a material fact contained or alleged to be contained in any written information, written report, certification or other material provided under this Amendment Reg AB by or on behalf of the Company, or provided under this Amendment Reg AB by or on behalf of any Subservicer, Participating Entity or, if applicable, Third-Party Originator (collectively, the “Company Information”), or (2) the omission or alleged omission to state in the Company Information a material fact required to be stated in the Company Information or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, by way of clarification, that clause (2) of this paragraph shall be construed solely by reference to the Company Information and not to any other information communicated in connection with a sale or purchase of securities, without regard to whether the Company Information or any portion thereof is presented together with or separately from such other information;

(B) any failure by the Company, any Subservicer, any Participating Entity or any Third-Party Originator to deliver any information, report, certification, accountants’ letter or other material when and as required under this Amendment Reg AB, including any failure by the Company to identify pursuant to Section 2(f)(ii) any Participating Entity; or

(C) any breach by the Company of a representation or warranty set forth in Section 2(b)(i) or in a writing furnished pursuant to Section 2(b)(ii) and made as of a date prior to the closing date of the related Securitization Transaction, to the extent that such breach is not cured by such closing date, or any breach by the Company of a representation or warranty in a writing furnished pursuant to Section 2(b)(ii) to the extent made as of a date subsequent to such closing date.

In the case of any failure of performance described in clause (i)(B) of this Section, the Company shall promptly reimburse the Purchaser, any Depositor, as applicable, and each Person responsible for the execution or filing of any report required to be filed with the Commission with respect to such Securitization Transaction, or for execution of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such Securitization Transaction, for all costs reasonably incurred by each such party in order to obtain the information, report, certification, accountants’ letter or other material not delivered as required by the Company, any Subservicer, any Participating Entity or any Third-Party Originator.

(ii) (A) Any failure by the Company, any Subservicer, any Participating Entity or any Third-Party Originator to deliver any information, report, certification, accountants’ letter or other material when and as required under this Amendment Reg AB , which continues unremedied for three Business Days after receipt by the Company and the applicable Subservicer, Subcontractor, or Third-Party Originator of written notice of such failure from the Purchaser or Depositor shall, except as provided in clause (B) of this paragraph, constitute an Event of Default with respect to the Company under this Agreement and any applicable Reconstitution Agreement, and shall entitle the Purchaser or Depositor, as applicable, in its sole discretion to terminate the rights and obligations of the Company as servicer under this Agreement and/or any applicable Reconstitution Agreement related thereto without payment (notwithstanding anything in this Agreement or any applicable Reconstitution Agreement related thereto to the contrary) of any compensation to the Company (and if the Company is servicing any of the Mortgage Loans in a Securitization Transaction, appoint a successor servicer reasonably acceptable to any Master Servicer for such Securitization Transaction); provided, however it is understood that the Company shall retain any rights pursuant to which it may be entitled to receive reimbursement for unreimbursed Monthly Advances and Servicing Advances made by the Company under this Agreement and/or any applicable Reconstitution Agreement. Notwithstanding anything to the contrary set forth herein, to the extent that any provision of this Agreement and/or any applicable Reconstitution Agreement expressly provides for the survival of certain rights or obligations following termination of the Company as servicer, such provision shall be given effect.

(B) Any failure by the Company, any Subservicer or any Participating Entity to deliver any information, report, certification or accountants’ letter required under Regulation AB when and as required under Section 2(d) or 2(e), including any failure by the Company to identify a Participating Entity, which continues unremedied for ten calendar days after the date on which such information, report, certification or accountants’ letter was required to be delivered shall constitute an Event of Default with respect to the Company under this Agreement and any applicable Reconstitution Agreement, and shall entitle the Purchaser or Depositor, as applicable, in its sole discretion to terminate the rights and obligations of the Company as servicer under this Agreement and/or any applicable Reconstitution Agreement without payment (notwithstanding anything in this Agreement to the contrary) of any compensation to the Company; provided, however it is understood that the Company shall retain any rights pursuant to which it may be entitled to receive reimbursement for unreimbursed Monthly Advances and Servicing Advances made by the Company under this Agreement and/or any applicable Reconstitution Agreement. Notwithstanding anything to the contrary set forth herein, to the extent that any provision of this Agreement and/or any applicable Reconstitution Agreement expressly provides for the survival of certain rights or obligations following termination of the Company as servicer, such provision shall be given effect.

(C) The Company shall promptly reimburse the Purchaser (or any affected designee of the Purchaser, such as a master servicer) and any Depositor, as applicable, for all reasonable expenses incurred by the Purchaser (or such designee) or such Depositor as such are incurred, in connection with the termination of the Company as servicer and the transfer of servicing of the Mortgage Loans to a successor servicer. The provisions of this paragraph shall not limit whatever rights the Company, the Purchaser or any Depositor may have under other provisions of this Agreement and/or any applicable Reconstitution Agreement or otherwise, whether in equity or at law, such as an action for damages, specific performance or injunctive relief.

(iii) The Purchaser agrees to indemnify and hold harmless the Company, any Subservicer, any Participating Entity, and, if applicable, any Third-Party Originator, each Person who controls any of such parties (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the respective present and former directors, officers and employees of each of the foregoing 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 any untrue statement or alleged untrue statement of any material fact contained in any filing with the Commission with respect to a Securitization Transaction or the omission or alleged omission to state in any filing with the Commission with respect to a Securitization Transaction a material fact required to be stated or necessary to be stated in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement, alleged untrue statement, omission, or alleged omission relates to any filing with the Commission with respect to a Securitization Transaction other than the Company Information.

(iv) If the indemnification provided for herein is unavailable or insufficient to hold harmless the indemnified party, then the indemnifying party agrees that it shall contribute to the amount paid or payable by such indemnified party as a result of any claims, losses, damages or liabilities uncured by such indemnified party in such proportion as is appropriate to reflect the relative fault of such indemnified party on the one hand and the indemnifying party on the other.

(v) This indemnification shall survive the termination of this Amendment Reg AB or the termination of any party to this Amendment Reg AB.

3.  Notwithstanding any other provision of this Amendment Reg AB, the Company shall seek the consent of the Purchaser for the utilization of all Subservicers and Participating Entities, when required by and in accordance with the terms of the Existing Agreement.
 
4.  The Existing Agreement is hereby amended by adding the Exhibits attached hereto as Exhibit A and Exhibit B to the end thereto. References in this Amendment Reg AB to “this Agreement” or words of similar import (including indirect references to the Agreement) shall be deemed to be references to the Existing Agreement as amended by this Amendment Reg AB. Except as expressly amended and modified by this Amendment Reg AB, the Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms. In the event of a conflict between this Amendment Reg AB and any other document or agreement, including without limitation the Existing Agreement, this Amendment Reg AB shall control.
 
5. All notification pursuant to Section 2(c)(iv) should be sent to:

EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067-3884
Attention: Conduit Seller Approval Dept.
Facsimile: (214) 626-3751
Email: sellerapproval@bear.com

With a copy to:

Bear, Stearns & Co. Inc.
383 Madison Avenue, 3rd Floor
New, York, NY 10179
Attention: Global Credit Administration
Facsimile: (212) 272-6564

All notification pursuant to Section 2(c)(iv)(4) should be sent to:

EMC Mortgage Corporation
Two Mac Arthur Ridge
909 Hidden Ridge Drive, Suite 200
Irving, TX 75038
Attention: Associate General Counsel for Loan Administration
Facsimile: (972) 831-2555

With copies to:

Bear, Stearns & Co. Inc.
383 Madison Avenue, 3rd Floor
New, York, NY 10179
Attention: Global Credit Administration
Facsimile: (212) 272-6564

EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067-3884
Attention: Conduit Seller Approval Dept.
Facsimile: (214) 626-3751
Email: sellerapproval@bear.com

All notifications to any Master Servicer, to the extent such “Master Servicer” is Wells Fargo, should be sent to:

UPS/FedEx Delivery:

9062 Old Annapolis Road
Columbia, MD 21045
Attention: Corporate Trust Group, [Insert Deal Name]

USPS Delivery:

P.O. Box 98
Columbia, MD 21046
Attention: Corporate Trust Group, [Insert Deal Name]
 
6. This Amendment Reg AB shall be governed by and construed in accordance with the laws of the State of New York without reference to its conflict of laws provisions (other than Section 5-1401 of the General Obligation Law), and the obligations, rights and remedies of the parties hereunder shall be determined accordance with such laws.
 
7. This Amendment Reg AB may be executed in one or more counterparts and by different parties hereto on separate counterparts, each of which, when so executed, shall constitute one and the same agreement. This Amendment Reg AB will become effective as of the date first mentioned above. This Amendment Reg AB shall bind and inure to the benefit of and be enforceable by the Company and the Purchaser and the respective permitted successors and assigns of the Company and the successors and assigns of the Purchaser.
 
 

 
[Signature Page Follows]




 
IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.
 
EMC MORTGAGE CORPORATION
 
Purchaser
   
By:
 
Name:
 
Title:
 
 
 
COUNTRYWIDE HOME LOANS, INC.
 
Company
   
By:
 
Name:
 
Title:
 
 

 
 

 







EXHIBIT A

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the applicable criteria identified below as “Applicable Servicing Criteria”:

Servicing Criteria
Applicable Servicing 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.
X
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.
X
1122(d)(1)(iii)
Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans 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.
X
 
Cash Collection and Administration
 
1122(d)(2)(i)
Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.
X
1122(d)(2)(ii)
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.
X
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.
X
1122(d)(2)(iv)
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.
X
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.
X
1122(d)(2)(vi)
Unissued checks are safeguarded so as to prevent unauthorized access.
X
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.
X
 
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 mortgage loans serviced by the Servicer.
X
1122(d)(3)(ii)
Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.
X
1122(d)(3)(iii)
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 transaction agreements.
X
1122(d)(3)(iv)
Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.
X
 
Pool Asset Administration
 
1122(d)(4)(i)
Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.
X
1122(d)(4)(ii)
Mortgage loan and related documents are safeguarded as required by the transaction agreements
X
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.
X
1122(d)(4)(iv)
Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan 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 mortgage loan documents.
X
1122(d)(4)(v)
The Servicer’s records regarding the mortgage loans agree with the Servicer’s records with respect to an obligor’s unpaid principal balance.
X
1122(d)(4)(vi)
Changes with respect to the terms or status of an obligor's mortgage loans (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.
X
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.
X
1122(d)(4)(viii)
Records documenting collection efforts are maintained during the period a mortgage loan 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 mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).
X
1122(d)(4)(ix)
Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents.
X
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 mortgage loan 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 mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements.
X
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.
X
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.
X
1122(d)(4)(xiii)
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 days specified in the transaction agreements.
X




1122(d)(4)(xiv)
Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.
X
1122(d)(4)(xv)
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 transaction agreements.
 
 

 
[NAME OF COMPANY] [NAME OF SUBSERVICER]
 
Date:
 
   
By:
 
Name:
 
Title:
 




EXHIBIT B
 
FORM OF ANNUAL CERTIFICATION
 
Re:  
The [ ] agreement dated as of [ ], 200[ ] (the “Agreement”), among [IDENTIFY PARTIES]
 
I, ________________________________, the _______________________ of Countrywide Home Loans, Inc., certify to [the Purchaser], [the Depositor], [Master Servicer], [Securities Administrator] or [Trustee], and its officers, with the knowledge and intent that they will rely upon this certification, that:
 
(1) I have reviewed the servicer compliance statement of the Company provided in accordance with Item 1123 of Regulation AB (the “Compliance Statement”), the report on assessment of the Company’s compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing Assessment”), the registered public accounting firm’s attestation report provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of Regulation AB (the Attestation Report”), and all servicing reports, officer’s certificates and other information relating to the servicing of the Mortgage Loans by the Company during 200[ ] that were delivered by the Company to the [Depositor] [Master Servicer] [Securities Administrator] or [Trustee] pursuant to the Agreement (collectively, the “Company Servicing Information”);
 
(2) Based on my knowledge, the Company Servicing Information, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in the light of the circumstances under which such statements were made, not misleading with respect to the period of time covered by the Company Servicing Information;
 
(3) Based on my knowledge, all of the Company Servicing Information required to be provided by the Company under the Agreement has been provided to the [Depositor] [Master Servicer] [Securities Administrator] or [Trustee];
 
(4) I am responsible for reviewing the activities performed by the Company as servicer under the Agreement, and based on my knowledge and the compliance review conducted in preparing the Compliance Statement and except as disclosed in the Compliance Statement, the Servicing Assessment or the Attestation Report, the Company has fulfilled its obligations under the Agreement; and
 

[Intentionally Left Blank]



 
(5) The Compliance Statement required to be delivered by the Company pursuant to this Agreement, and the Servicing Assessment and Attestation Report required to be provided by the Company and by each Subservicer and Participating Entity pursuant to the Agreement, have been provided to the [Depositor] [Master Servicer]. Any material instances of noncompliance described in such reports have been disclosed to the [Depositor] [Master Servicer]. Any material instance of noncompliance with the Servicing Criteria has been disclosed in such reports.
 

 
Date:
 
   
By:
 
Name:
 
Title:
 

 
 


 
 
 

 

 
EXHIBIT I
 
FORM OF COUNTRYWIDE ASSIGNMENT AGREEMENT
 

ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
 
This Assignment, Assumption and Recognition Agreement (the “Agreement”) is made and entered into as of April 30, 2007 (the “Effective Date”), among EMC Mortgage Corporation, having an address at 2780 Lake Vista Drive, Lewisville, Texas 75067 (the “Assignor”), Wells Fargo Bank, N.A., not individually but solely as Trustee for the holders of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3, having an address at 9062 Old Annapolis Road, Columbia, Maryland 21045 (the “Assignee”) and Countrywide Home Loans Servicing LP, having an address at 400 Countrywide Way, Simi Valley, California 93065 (the “Company”).
 
WHEREAS, the Assignor has acquired certain mortgage loans set forth on Attachment 1 (the “Mortgage Loans”) from Countrywide Home Loans, Inc. (the “Seller”) pursuant to that certain Seller’s Warranties and Servicing Agreement, dated as of September 1, 2002, as amended by Amendment No. 1, dated January 1, 2003, Amendment No. 2, dated September 1, 2004 and as amended by Amendment Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement, dated as of January 1, 2006, by and between the Assignor and Countrywide Home Loans, Inc. (the “SWS Agreement”); and

WHEREAS, the Seller has assigned its rights and obligations under the SWS Agreement to the Company and the Company is currently servicing the Mortgage Loans for the benefit of the Assignor in accordance with the terms and conditions of the SWS Agreement.

For and in consideration of the mutual promises and agreements contained herein, and other valuable consideration, the receipt and sufficiency of which hereby are acknowledged, and of the mutual covenants herein contained, the parties hereto hereby agree as follows:

1.  Defined terms used in this Agreement and not otherwise defined herein shall have the meaning set forth in the SWS Agreement.
 
2.  The Company recognizes the Assignor as owner of the Mortgage Loans and acknowledges that it is currently servicing the Mortgage Loans for the benefit of the Assignor. From and after the date hereof, the Company agrees that it will service the Mortgage Loans pursuant to the terms of the SWS Agreement (as modified herein) which terms are incorporated herein by reference.
 
3.  The Assignor hereby grants, transfers and assigns to the Assignee all of the right, title, interest and obligations of the Assignor, as purchaser, in, to and under (a) the Mortgage Loans and (b) the SWS Agreement with respect to the Mortgage Loans.
 
4.  The Assignor specifically reserves and does not assign to the Assignee hereunder any and all right, title and interest in, to and under any and all obligations of the Assignor with respect to any mortgage loans subject to the SWS Agreement which are not Mortgage Loans and are not the subject of this Agreement.
 
5.  The Assignor warrants and represents to, and covenants with, the Assignee that as of the date hereof:
 
(a)                 
Attached hereto as Attachment 2 is a true and accurate copy of the servicing provisions of the SWS Agreement (Articles IV, V, and VI), which is in full force and effect as of the date hereof and the provisions of which have not been waived, amended or modified in any material respect, nor has any notice of termination been given thereunder;
 
(b)                  
The Assignor is the lawful owner of the Mortgage Loans with full right to transfer the Mortgage Loans and any and all of its interests, rights and obligations under the SWS Agreement as they relate to the Mortgage Loans, free and clear from any and all claims and encumbrances; and upon the transfer of the Mortgage Loans to the Assignee as contemplated herein, the Assignee shall have good title to each and every Mortgage Loan, as well as any and all of the Assignor’s interests, rights and obligations under the SWS Agreement, except as otherwise set forth herein, as they relate to the Mortgage Loans, free and clear of any and all liens, claims and encumbrances;
 
(c)                  
There are no known offsets, counterclaims or other defenses available to the Company with respect to the Mortgage Loans or the SWS Agreement;
 
(d)                  
The Assignor has no knowledge of, and has not received notice of, any waivers under, or any modification of, any Mortgage Loan;
 
(e)                  
The Assignor is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation, and has all requisite power and authority to acquire, own and sell the Mortgage Loans;
 
(f)                  
The Assignor has full corporate power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of the Assignor’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of the Assignor’s charter or by-laws or any legal restriction, or any material agreement or instrument to which the Assignor is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Assignor or its property is subject. The execution, delivery and performance by the Assignor of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of the Assignor. This Agreement has been duly executed and delivered by the Assignor and, upon the due authorization, execution and delivery by the Assignee and the Company, will constitute the valid and legally binding obligation of the Assignor enforceable against the Assignor in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law;
 
(g)                  
No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by the Assignor in connection with the execution, delivery or performance by the Assignor of this Agreement, or the consummation by it of the transactions contemplated hereby. Neither the Assignor nor anyone acting on its behalf has offered, transferred, pledged, sold or otherwise disposed of the Mortgage Loans or any interest in the Mortgage Loans, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Mortgage Loans, or any interest in the Mortgage Loans or otherwise approached or negotiated with respect to the Mortgage Loans, or any interest in the Mortgage Loans 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 which would constitute a distribution of the Mortgage Loans under the Securities Act of 1933, as amended (the “1933 Act”) or which would render the disposition of the Mortgage Loans a violation of Section 5 of the 1933 Act or require registration pursuant thereto; and
 
(h)                  
The Assignor has received from the Company, and has delivered to the Assignee, all documents required to be delivered to the Assignor by the Company prior to the date hereof pursuant to the SWS Agreement with respect to the Mortgage Loans and has not received, and has not requested from the Company, any additional documents.
 
6.  The Assignee warrants and represents to, and covenants with, the Assignor and the Company as of the date hereof:
 
(a)                  
The Assignee is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has all requisite power and authority to hold the Mortgage Loans as trustee on behalf of the holders of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3;
 
(b)                  
The Assignee has full corporate power and authority to execute and deliver this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of the Assignee’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of the Assignee’s charter or by-laws or any legal restriction, or any material agreement or instrument to which the Assignee is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Assignee or its property is subject. The execution, delivery and performance by the Assignee of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary corporate action on the part of the Assignee. This Agreement has been duly executed and delivered by the Assignee and, upon the due authorization, execution and delivery by the Assignor and the Company, will constitute the valid and legally binding obligation of the Assignee enforceable against the Assignee in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law;
 
(c)                  
No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by the Assignee in connection with the execution, delivery or performance by the Assignee of this Agreement, or the consummation by it of the transactions contemplated hereby; and
 
(d)                  
The Assignee assumes for the benefit of each of the Assignor and the Company all of the Assignor’s rights and obligations as “Purchaser” thereunder but solely with respect to such Mortgage Loans; provided however, that the Assignee is assuming such obligations solely in its capacity as trustee for Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 and not individually, and any recourse against the Assignee in respect of such obligations shall be limited solely to the assets it may hold as trustee of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3.
 
7.  The Company warrants and represents to, and covenants with, the Assignor and the Assignee as of the date hereof:
 
(a)                  
The SWS Agreement is in full force and effect as of the date hereof and the provisions of which have not been waived, amended or modified in any material respect, except as contemplated herein, nor has any notice of termination been given thereunder;
 
(b)                  
The Company is duly organized, validly existing and in good standing under the laws of the jurisdiction of its formation, and has all requisite power and authority to service the Mortgage Loans and otherwise to perform its obligations under the SWS Agreement;
 
(c)                  
The Company has full power and authority to execute, deliver and perform its obligations under this Agreement, and to consummate the transactions set forth herein. The consummation of the transactions contemplated by this Agreement is in the ordinary course of the Company’s business and will not conflict with, or result in a breach of, any of the terms, conditions or provisions of the Company’s formation documents or any legal restriction, or any material agreement or instrument to which the Company is now a party or by which it is bound, or result in the violation of any law, rule, regulation, order, judgment or decree to which the Company or its property is subject. The execution, delivery and performance by the Company of this Agreement and the consummation by it of the transactions contemplated hereby, have been duly authorized by all necessary action on the part of the Company. This Agreement has been duly executed and delivered by the Company, and, upon the due authorization, execution and delivery by the Assignor and the Assignee, will constitute the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms except as enforceability may be limited by bankruptcy, reorganization, insolvency, moratorium or other similar laws now or hereafter in effect relating to creditors’ rights generally, and by general principles of equity regardless of whether enforceability is considered in a proceeding in equity or at law;
 
(d)                  
No consent, approval, order or authorization of, or declaration, filing or registration with, any governmental entity is required to be obtained or made by the Company in connection with the execution, delivery or performance by the Company of this Agreement, or the consummation by it of the transactions contemplated hereby;
 
(e)                  
The Company shall establish a Custodial Account and an Escrow Account under the SWS Agreement in favor of the Assignee with respect to the Mortgage Loans separate from the Custodial Account and Escrow Account previously established in favor of the Assignor; and
 
8.  The Company hereby restates the representations and warranties set forth in Section 2(b) of the Amendment Reg AB as of the date hereof.
 
Each such notice/update required to be sent to the Assignor as set forth in the Amendment Reg AB shall be sent to the Assignor by e-mail to regABnotifications@bear.com. Additionally, all such notifications should be sent to:
 
EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, Texas 75067-3884
Attention: Michelle Viner
Facsimile: (214) 626-4889
Email: mviner@bear.com

With a copy to:

Bear, Stearns & Co. Inc.
383 Madison Avenue, 3rd Floor
New, York, NY 10179
Attention: Global Credit Administration
Facsimile: (212) 272-6564

Notifications pursuant to (i)(b)(2) above should be sent to:

EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, Texas 75067-3884
Attention: General Counsel
Facsimile: (469) 759-4714

With copies to:

Bear, Stearns & Co. Inc.
383 Madison Avenue, 3rd Floor
New, York, NY 10179
Attention: Global Credit Administration
Facsimile: (212) 272-6564

EMC Mortgage Corporation
2780 Lake Vista Drive
Lewisville, TX 75067-3884
Attention: Michelle Viner
Facsimile: (214) 626-4889
Email: mviner@bear.com
 
9.  The Assignor hereby agrees to indemnify and hold the Assignee (and its successors and assigns) harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Assignee (and its successors and assigns) may sustain in any way related to any breach of the representations or warranties of the Assignor set forth in this Agreement or the breach of any covenant or condition contained herein.
 
Recognition of the Assignee
 
10.  From and after the date hereof, the Company shall recognize the Assignee as owner of the Mortgage Loans, and acknowledges that the Mortgage Loans will be part of a REMIC, and will service the Mortgage Loans in accordance with the SWS Agreement. It is the intention of the Assignor, the Company and the Assignee that this Agreement shall be binding upon and for the benefit of the respective permitted successors and assigns of the parties hereto. Neither the Company nor the Assignor shall amend or agree to amend, modify, waive, or otherwise alter any of the terms or provisions of the SWS Agreement which amendment, modification, waiver or other alteration would in any way affect the Mortgage Loans without the prior written consent of the Assignee, which shall not be unreasonably withheld.
 
The Company shall prepare for and deliver to the Assignee and the Master Servicer (and the securities administrator, if any) a statement with respect to each mortgaged property acquired through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Assigned Loan (“REO Property”) that has been rented showing the aggregate rental income received and all expenses incurred in connection with the management and maintenance of such REO Property at such times as is necessary to enable the Assignee (or the securities administrator, if any) to comply with the reporting requirements of the REMIC provisions of the Code. The net monthly rental income, if any, from such REO Property shall be deposited in the related collection account no later than the close of business on each determination date. The Company shall perform, or caused to be performed, the tax reporting and withholding related to foreclosures, abandonments and cancellation of indebtedness income as specified by Sections 1445, 6050J and 6050P of the Code by preparing and filing such tax and information returns, as may be required. In the event that the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 acquires any REO Property as aforesaid or otherwise in connection with a default or default becoming reasonably foreseeable on an Assigned Loan, the Company shall cause such REO Property to be disposed prior to three years after its acquisition by the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 or, at the expense of the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3, request more than 60 days prior to the day on which such three-year period would otherwise expire, an extension of the three-year grace period unless the Assignee (or the securities administrator, if any) shall have been supplied with an opinion of counsel addressed to the Assignee (and the securities administrator, if any) rendered by nationally recognized tax counsel specializing in such matters (such opinion not to be an expense of the Trustee or the Securities Administrator) to the effect that the holding by the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 of such REO Property subsequent to such three-year period will not result in the imposition of taxes on “prohibited transactions” of any REMIC as defined in Section 860F of the Code or cause any REMIC to fail to qualify as a REMIC, in which case the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 may continue to hold such REO Property (subject to any conditions contained in such opinion of counsel). Notwithstanding any other provision of the Servicing Agreement, no REO Property acquired by the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 shall be rented (or allowed to continue to be rented) or otherwise used for the production of income by or on behalf of the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 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 any REMIC to the imposition of any federal, state or local income taxes on the income earned from such REO Property under Section 860G(c) of the Code or otherwise, unless the Company has agreed to indemnify and hold harmless the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 with respect to the imposition of any such taxes.
 
11.  Notwithstanding any term hereof to the contrary, the execution and delivery of this Agreement by the Assignee is solely in its capacity as trustee for Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3 and not individually, and any recourse against the Assignee in respect of any obligations it may have under or pursuant to the terms of this Agreement shall be limited solely to the assets it may hold as trustee of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3.
 
Modification of the SWS Agreement:
 
12.  The Company and the Assignor hereby amend the SWS Agreement as follows:
 
(a)  Section 6.04, 6.05 and 6.07 and clause (x) of Section 10.01, all as added by Amendment No. 2 to the Servicing Agreement are deleted in their entirety.
 
(b)  Section 2(d) of the SWS Agreement as added by Amendment Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement is hereby amended by adding the following paragraph to the end of the section:
 
In the event the Company or any subservicer or subcontractor engaged by it is terminated, assigns its rights and obligations under, or resigns pursuant to the terms of this Agreement, or any other applicable agreement in the case of a subservicer or subcontractor, as the case may be, such party shall provide an Annual Statement of Compliance pursuant to this Section 2(d) or to the related section of such other applicable agreement, as the case may be, as to the performance of its obligations with respect to the period of time it was subject to this Agreement or any other applicable agreement, as the case may be, notwithstanding any such termination, assignment or resignation.
 
(c)  Section 2(e) of the SWS Agreement as added by Amendment Reg AB to the Master Mortgage Loan Purchase and Servicing Agreement is hereby amended by adding the following paragraph to the end of the section:
 
In the event the Servicer or any subservicer or subcontractor engaged by it is terminated, assigns its rights and obligations under, or resigns pursuant to, the terms of this Agreement, or any other applicable agreement in the case of a subservicer or subcontractor, as the case may be, such party shall provide an Assessment of Compliance and cause to be provided an Attestation Report pursuant to this Section 2(e) or to the related section of such other applicable agreement, as the case may be, notwithstanding any such termination, assignment or resignation.
 
(d)  The definition of Remittance Date is deleted in its entirety and replaced with the following:
 
Remittance Date: The 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding) of any month, beginning with the First Remittance Date.  
 
(e)  The definition of Master Servicer is deleted in its entirety and replaced with the following:
 
Master Servicer: EMC Mortgage Corporation, or its successors in interest.
 
(f)  The definition of Servicing Fee Rate is deleted in its entirety and replaced with the following:
 
Servicing Fee Rate: A per annum rate equal to 0.25%.
 
(g)  The definition of Principal Prepayment is deleted in its entirety and replaced with the following:
 
Principal Prepayment: Any payment or other recovery of principal on a Mortgage Loan in full or partial which is received in advance of its scheduled Due Date and which is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment. Partial principal Prepayments shall be applied in accordance with the terms of the related Mortgage Note.
 
(h)  Section 4.01 of the SWS Agreement is hereby amended by changing the first sentence of the second paragraph to the following:
 
Consistent with the terms of this Agreement and the related Term Sheet, the Company may waive, modify or vary any term of any Mortgage Loan or consent to the postponement of any such term or in any manner grant indulgence to any Mortgagor if in the Company's reasonable and prudent determination such waiver, modification, postponement or indulgence is not materially adverse to the Purchaser, provided, however, that unless the Company has obtained the prior written consent of the Purchaser, the Company shall not permit any modification with respect to any Mortgage Loan that would change the Mortgage Interest Rate, defer for more than ninety days or forgive any payment of principal or interest, reduce or increase the outstanding principal balance (except for actual payments of principal) or change the final maturity date on such Mortgage Loan.

(i)  The first sentence of Section 5.02 of the SWS Agreement is hereby deleted and replaced with the following:
 
Not later than the 5th business day of each calendar month, the Company shall provide a monthly report substantially in the form of Exhibit I and Exhibit J, with respect to remittances, Exhibit K, with respect to realized losses and gains, Exhibit L, with respect to defaulted mortgage loans, Exhibit M, with respect to modified mortgage loans, Exhibit N, with respect to claims submitted and Exhibit O, with respect to loss severity, with each such report.
 
(j)  Exhibit F to the SWS Agreement is hereby deleted in its entirety and replaced with the reporting exhibits attached hereto as Attachment 3 in formats mutually agreeable to the Company and the Master Servicer. Notwithstanding the foregoing, the Company is not required to report data relating to prepayment charges or penalties.
 
(k)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit I, a copy of which is annexed hereto as Attachment 4, or such other format as mutually agreed upon between the Company and the Assignor for a period of seventy (70) days from the Effective Date.
 
(l)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit J, a copy of which is annexed hereto as Attachment 5, or such other format as mutually agreed upon between the Company and the Assignor for a period of seventy (70) days from the Effective Date.
 
(m)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit K, a copy of which is annexed hereto as Attachment 6.
 
(n)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit L, a copy of which is annexed hereto as Attachment 7, or such other format as mutually agreed upon between the Company and the Assignor for a period of seventy (70) days from the Effective Date.
 
(o)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit M, a copy of which is annexed hereto as Attachment 8.
 
(p)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit N, a copy of which is annexed hereto as Attachment 9.
 
(q)  The SWS Agreement is hereby amended as of the date hereof by inserting a new Exhibit O, a copy of which is annexed hereto as Attachment 10.
 
13.  The Company hereby acknowledges that EMC Mortgage Corporation (the “Master Servicer”) has been appointed as the master servicer of the Mortgage Loans pursuant to the pooling and servicing agreement for the Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3, and therefore has the right to enforce on behalf of the Assignee all obligations of the Company under the SWS Agreement.  Such right will include, without limitation, the right to terminate the Servicer under the SWS Agreement upon the occurrence of an event of default thereunder, the right to receive all remittances required to be made by the Company under the SWS Agreement, the right to receive all monthly reports and other data required to be delivered by the Company under the SWS Agreement, the right to examine the books and records of the Company and the right to exercise certain rights of consent and approval relating to actions taken by the Company; provided, however, all parties hereto agree that such enforcement of a right shall only be exercised by one party. Notwithstanding the foregoing, it is understood that the Company shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Assignor and the Assignee against any losses, damages, penalties, fines, forfeiture, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Company which were taken or omitted upon the instruction or direction of the Master Servicer or Assignee, as applicable, or (ii) the failure of the Assignee or the Assignee’s designee, as applicable, to perform the obligations of “Purchaser” under the SWS Agreement, as modified by the Agreement.
 
The Company shall make all distributions under the SWS Agreement to the Master Servicer by wire transfer of immediately available funds to:
 
EMC Master Servicing Remittances
Bank:  Chase Bank of Texas
Branch:  Irving, Texas
Account Name:  EMC Mortgage Corporation
ABA # 113000609
ACCOUNT # 000000709377717
Reference: M/S Remittance [date] Remit for  [name of Servicer].
Attention:  LSBO Group-MS

and the Company shall deliver all reports required to be delivered under the SWS Agreement to the Master Servicer at:
 
EMC Mortgage Corporation 
2780 Lake Vista Drive
Lewisville, Texas 75067
Attention: Michelle Viner
Facsimile: (214) 626-4889
Email: mviner@bear.com
 
14.  Notices:
 
The Assignor’s address for purposes of all notices and correspondence related to the Mortgage Loans and this Agreement is:
 
EMC Mortgage Corporation 
2780 Lake Vista Drive
Lewisville, Texas 75067
Attention: Michelle Viner
Facsimile: (214) 626-4889
Email: mviner@bear.com
 
The Assignee’s address for purposes of all notices and correspondence related to the Mortgage Loans and this Agreement is:
 
Wells Fargo Bank, N.A.
as Trustee
9062 Old Annapolis Road
Columbia, Maryland 20145
Attention: Corporate Trust Services, BSARM 2007-3
Telecopier No.: (410) 715-2380

The Company’s address for purposes of all notices and correspondence related to the Mortgage Loans and this Agreement is:
 
Countrywide Home Loans Servicing LP
400 Countrywide Way
Simi Valley, California 93065
Attention: John Lindberg, Rachel Meza, Eric Varnen and Yuan Li 
 
Miscellaneous:
 
15.  Each party will pay any commissions it has incurred and the Assignor shall pay the fees of its attorneys and the reasonable fees of the attorneys of the Assignee and the Company in connection with the negotiations for, documenting of and closing of the transactions contemplated by this Agreement.
 
16.  This Agreement shall be construed in accordance with the laws of the State of New York, without regard to conflicts of law principles (other than Section 5-1401 of the New York Obligations Law), and the obligations, rights and remedies of the parties hereunder shall be determined in accordance with such laws.
 
17.  No term or provision of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the party against whom such waiver or modification is sought to be enforced.
 
18.  This Agreement shall inure to the benefit of the permitted successors and assigns of the parties hereto. Any entity into which the Assignor, the Assignee, or the Company may be merged or consolidated shall, without the requirement for any further writing, be deemed the Assignor, the Assignee, or the Company, respectively, hereunder.
 
19.  This Agreement shall survive the conveyance of the Mortgage Loans, the assignment of the SWS Agreement to the extent of the Mortgage Loans by the Assignor to the Assignee and the termination of the SWS Agreement.
 
20.  This Agreement may be executed simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original and all such counterparts shall constitute one and the same instrument.
 
21.  In the event that any provision of this Agreement conflicts with any provision of the SWS Agreement with respect to the Mortgage Loans, the terms of this Agreement shall control.
 

 




IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized officers as of the date first above written.
 
EMC MORTGAGE CORPORATION
Assignor
 
By:
 
Name:
Title:
 
 
WELLS FARGO BANK, N.A., not individually but solely as trustee for the holders of Bear Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2007-3
 
By:
 
Name:
Title:
 
COUNTRYWIDE HOME LOANS SERVICING LP
By: Countrywide GP, Inc., its General Partner
 
By:
 
Name:
Title:


Acknowledged and Agreed:
 
EMC MORTGAGE CORPORATION
Master Servicer
 
By:
 
Name:
Title:

 
 
 
 
BSARM 2007-3 COUNTRYWIDE AAR
 




Attachment 1
 
Mortgage Loans
 
[Provided Upon Request]
 
 

 



Attachment 2
 
Articles IV, V, and VI of the SWS Agreement.
 
[Provided Upon Request]
 
 
 



Attachment 3
 
EXHIBIT F to the SWS Agreement
 

Standard File Layout - Master Servicing
     
Column Name
Description
Decimal
Format Comment
Max Size
SER_INVESTOR_NBR
A value assigned by the Servicer to define a group of loans.
 
Text up to 10 digits
20
LOAN_NBR
A unique identifier assigned to each loan by the investor.
 
Text up to 10 digits
10
SERVICER_LOAN_NBR
A unique number assigned to a loan by the Servicer. This may be different than the LOAN_NBR.
 
Text up to 10 digits
10
BORROWER_NAME
The borrower name as received in the file. It is not separated by first and last name.
 
Maximum length of 30 (Last, First)
30
SCHED_PAY_AMT
Scheduled monthly principal and scheduled interest payment that a borrower is expected to pay, P&I constant.
2
No commas(,) or dollar signs ($)
11
NOTE_INT_RATE
The loan interest rate as reported by the Servicer.
4
Max length of 6
6
NET_INT_RATE
The loan gross interest rate less the service fee rate as reported by the Servicer.
4
Max length of 6
6
SERV_FEE_RATE
The servicer's fee rate for a loan as reported by the Servicer.
4
Max length of 6
6
SERV_FEE_AMT
The servicer's fee amount for a loan as reported by the Servicer.
2
No commas(,) or dollar signs ($)
11
NEW_PAY_AMT
The new loan payment amount as reported by the Servicer.
2
No commas(,) or dollar signs ($)
11
NEW_LOAN_RATE
The new loan rate as reported by the Servicer.
4
Max length of 6
6
ARM_INDEX_RATE
The index the Servicer is using to calculate a forecasted rate.
4
Max length of 6
6
ACTL_BEG_PRIN_BAL
The borrower's actual principal balance at the beginning of the processing cycle.
2
No commas(,) or dollar signs ($)
11
ACTL_END_PRIN_BAL
The borrower's actual principal balance at the end of the processing cycle.
2
No commas(,) or dollar signs ($)
11
BORR_NEXT_PAY_DUE_DATE
The date at the end of processing cycle that the borrower's next payment is due to the Servicer, as reported by Servicer.
 
MM/DD/YYYY
10
SERV_CURT_AMT_1
The first curtailment amount to be applied.
2
No commas(,) or dollar signs ($)
11
SERV_CURT_DATE_1
The curtailment date associated with the first curtailment amount.
 
MM/DD/YYYY
10
CURT_ADJ_ AMT_1
The curtailment interest on the first curtailment amount, if applicable.
2
No commas(,) or dollar signs ($)
11
SERV_CURT_AMT_2
The second curtailment amount to be applied.
2
No commas(,) or dollar signs ($)
11
SERV_CURT_DATE_2
The curtailment date associated with the second curtailment amount.
 
MM/DD/YYYY
10
CURT_ADJ_ AMT_2
The curtailment interest on the second curtailment amount, if applicable.
2
No commas(,) or dollar signs ($)
11
SERV_CURT_AMT_3
The third curtailment amount to be applied.
2
No commas(,) or dollar signs ($)
11
SERV_CURT_DATE_3
The curtailment date associated with the third curtailment amount.
 
MM/DD/YYYY
10
CURT_ADJ_AMT_3
The curtailment interest on the third curtailment amount, if applicable.
2
No commas(,) or dollar signs ($)
11
PIF_AMT
The loan "paid in full" amount as reported by the Servicer.
2
No commas(,) or dollar signs ($)
11
PIF_DATE
The paid in full date as reported by the Servicer.
 
MM/DD/YYYY
10
ACTION_CODE
The standard FNMA numeric code used to indicate the default/delinquent status of a particular loan.
 
Action Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution, 65=Repurchase,70=REO
2
INT_ADJ_AMT
The amount of the interest adjustment as reported by the Servicer.
2
No commas(,) or dollar signs ($)
11
SOLDIER_SAILOR_ADJ_AMT
The Soldier and Sailor Adjustment amount, if applicable.
2
No commas(,) or dollar signs ($)
11
NON_ADV_LOAN_AMT
The Non Recoverable Loan Amount, if applicable.
2
No commas(,) or dollar signs ($)
11
LOAN_LOSS_AMT
The amount the Servicer is passing as a loss, if applicable.
2
No commas(,) or dollar signs ($)
11
SCHED_BEG_PRIN_BAL
The scheduled outstanding principal amount due at the beginning of the cycle date to be passed through to investors.
2
No commas(,) or dollar signs ($)
11
SCHED_END_PRIN_BAL
The scheduled principal balance due to investors at the end of a processing cycle.
2
No commas(,) or dollar signs ($)
11
SCHED_PRIN_AMT
The scheduled principal amount as reported by the Servicer for the current cycle -- only applicable for Scheduled/Scheduled Loans.
2
No commas(,) or dollar signs ($)
11
SCHED_NET_INT
The scheduled gross interest amount less the service fee amount for the current cycle as reported by the Servicer -- only applicable for Scheduled/Scheduled Loans.
2
No commas(,) or dollar signs ($)
11
ACTL_PRIN_AMT
The actual principal amount collected by the Servicer for the current reporting cycle -- only applicable for Actual/Actual Loans.
2
No commas(,) or dollar signs ($)
11
ACTL_NET_INT
The actual gross interest amount less the service fee amount for the current reporting cycle as reported by the Servicer -- only applicable for Actual/Actual Loans.
2
No commas(,) or dollar signs ($)
11
PREPAY_PENALTY_ AMT
The penalty amount received when a borrower prepays on his loan as reported by the Servicer.
2
No commas(,) or dollar signs ($)
11
PREPAY_PENALTY_ WAIVED
The prepayment penalty amount for the loan waived by the servicer.
2
No commas(,) or dollar signs ($)
11
 
 
 
 
 
MOD_DATE
The Effective Payment Date of the Modification for the loan.
 
MM/DD/YYYY
10
MOD_TYPE
The Modification Type.
 
Varchar - value can be alpha or numeric
30
DELINQ_P&I_ADVANCE_AMT
The current outstanding principal and interest advances made by Servicer.
2
No commas(,) or dollar signs ($)
11

 



Attachment 4
 
EXHIBIT I to the SWS Agreement

The Company shall provide the Master Servicer with this Exhibit in the format below or such other format as mutually agreed upon between the Company and the Master Servicer seventy (70) days from the Effective Date.

Remittance Overview Report: Provides loan level detail regarding the remittance that will be submitted to EMC Master Servicing and contains the following data fields in the order below:
 
Field
 
Field Description
Deal Name
 
VARCHAR (15)
Master Servicer Loan Number
 
NUMERIC (9,0)
Current Investor Category
 
VARCHAR (5)
Original Investor Category
 
VARCHAR (5)
Servicer Loan Number
 
VARCHAR (15)
Cutoff Date
 
DATE (MM/DD/YYYY)
Loan Next Due Date
 
DATE (MM/DD/YYYY)
Gross Interest Rate
 
NUMERIC (7,7)
Net Interest Rate
 
NUMERIC (7,7)
Pending Interest Rate
 
NUMERIC (7,7)
Servicing Fee Rate
 
NUMERIC (7,7)
MI Rate
 
NUMERIC (7,7)
Scheduled P&I Amount (P & I Constant)
 
NUMERIC (12,2)
ARM Index
 
NUMERIC (7,7)
Pending ARM Index
 
NUMERIC (7,7)
Beginning Scheduled Principal Balance
 
NUMERIC (12,2)
Actual Principal Remitted
 
NUMERIC (12,2)
Actual Principal Curtailment Remitted
 
NUMERIC (12,2)
Curtailment Adjustment Remitted
 
NUMERIC (12,2)
Liquidation Principal Remitted
 
NUMERIC (12,2)
Principal Not Advanced (stop advance loans only)
 
NUMERIC (12,2)
Scheduled Gross Interest
 
NUMERIC (12,2)
Actual Interest Remitted
 
NUMERIC (12,2)
Scheduled Service Fee Amount
 
NUMERIC (12,2)
Soldiers and Sailors Variance
 
NUMERIC (12,2)
Net Interest Not Advanced
 
NUMERIC (12,2)
Prepayment Penalty Remitted
 
NUMERIC (12,2)
PMI Premium Remitted
 
NUMERIC (12,2)
Additional Fees Remitted
 
NUMERIC (12,2)
Ending Scheduled Balance
 
NUMERIC (12,2)
Actual Amount Remitted Total (each loan)
 
NUMERIC (12,2)
Beginning Actual Balance
 
NUMERIC (12,2)
Actual Principal Collected
 
NUMERIC (12,2)
Actual Curtailments Collected
 
NUMERIC (12,2)
Curtailment Adjustment Collected
 
NUMERIC (12,2)
Gross Interest Collected
 
NUMERIC (12,2)
Net Interest Collected
 
NUMERIC (12,2)
Service Fee Collected
 
NUMERIC (12,2)
Actual Ending Principal Balance
 
NUMERIC (12,2)
Liquidation Date
 
DATE (MM/DD/YYYY)
Liquidation Type
 
VARCHAR (1)
Gross Liquidation Proceeds
 
NUMERIC (12,2)
Liquidation Expenses
 
NUMERIC (12,2)
Principal and Interest Advanced Balance
 
NUMERIC (12,2)
Delinquent Service Fee
 
NUMERIC (12,2)
Calculated Loss to Trust
 
NUMERIC (12,2)
Net Interest Remitted
 
NUMERIC (12,2)
Collected Interest Not Remitted
 
NUMERIC (12,2)
Ending Advance Balance
 
NUMERIC (12,2)
Soldiers and Sailors Flag
 
VARCHAR (1)
Soldiers and Sailors Old Rate
 
NUMERIC (7,7)
Soldiers and Sailors Old P & I
 
NUMERIC (12,2)
Modified Date
 
DATE (MM/DD/YYYY)
Stop Advance Flag
   
Stop Advance Date
 
DATE (MM/DD/YYYY)
BPO Value
 
NUMERIC (12,2)
Cash Flow Group
 
VARCHAR (2)
MSP Principal Balance
 
NUMERIC (12,2)
Debt Forgiven / Charged Off
 
NUMERIC (12,2)
Mortgagor PITI Payment
 
NUMERIC (12,2)
Bankruptcy Status
 
VARCHAR (2)
Foreclosure Status
 
VARCHAR (2)
Modification Status
   
Interest Only Loan
 
VARCHAR (2)
Escrowed Loan
 
VARCHAR (2)
Monthly Escrow Deposit
 
NUMERIC (12,2)
Escrow Balance
 
NUMERIC (12,2)
Escrow Advance Balance
 
NUMERIC (12,2)
Restricted Escrow Balance
 
NUMERIC (12,2)
Mortgagor Recoverable Corporate Expense Balance
 
NUMERIC (12,2)
Non-Recoverable Corporate Expense Balance
 
NUMERIC (12,2)
HUD 235 Loan Status
 
VARCHAR (2)
HUD 235 Balance
 
NUMERIC (12,2)
Late Charge Balance
 
NUMERIC (12,2)
Buydown Loan Status
 
VARCHAR (2)
Monthly Buydown Amount
 
NUMERIC (12,2)
Monthly Buydown Funds Balance
 
NUMERIC (12,2)
Prepayment Penalty Amount Waived
 
NUMERIC (12,2)
Prepayment Penalty Waived Reason Code
 
VARCHAR (3)
Material Breach Status
 
VARCHAR (3)
Material Breach Code
 
VARCHAR (3)
Prefunding Date
 
DATE (MM/DD/YYYY)
3rd Party Recoverable Expenses
 
NUMERIC (12,2)

 



Attachment 5
 

EXHIBIT J to the SWS Agreement

The Company shall provide the Master Servicer with this Exhibit in the format below or such other format as mutually agreed upon between the Company and the Master Servicer for a period of seventy (70) days from the Effective Date.

Remittance Summary Report: Provides summary data at a deal (investor/category) level regarding the remittance that will be submitted to EMC Master Servicing and contains the following data fields in the order below:
 
Field
 
Field Description
Deal
 
VARCHAR (15)
Investor
 
VARCHAR (5)
Category
 
VARCHAR (5)
Principal Remitted
 
NUMERIC (15,2)
Curtailments Remitted
 
NUMERIC (15,2)
Curtailment Adjustments Remitted
 
NUMERIC (15,2)
Liquidation Proceeds Remitted
 
NUMERIC (15,2)
Principal Not Advanced (stop advance loans only)
 
NUMERIC (15,2)
Principal Amounts Called/Collapsed
 
NUMERIC (15,2)
Total Principal Remitted
 
NUMERIC (15,2)
Interest Remitted
 
NUMERIC (15,2)
PMI Premiums Remitted
 
NUMERIC (15,2)
Soldiers and Sailors Difference
 
NUMERIC (15,2)
Net Interest Not Advanced
 
NUMERIC (15,2)
Non Comp Interest Remitted
 
NUMERIC (15,2)
Prepayment Penalties Remitted
 
NUMERIC (15,2)
Total Interest Remitted
 
NUMERIC (15,2)
Arrearage Amount Remitted
 
NUMERIC (15,2)
Aggregate Loss to Trust
Total Manual Adjustments
 
NUMERIC (15,2)
Debt Forgiven/ Charged Off
 
NUMERIC (15,2)
Additional Fees Collected
 
NUMERIC (15,2)
Total Remittance
 
NUMERIC (15,2)

 




Attachment 6

EXHIBIT K to the SWS Agreement

 
EMC Master Servicing Calculation of Gain/Loss on Delinquent Loan Worksheet
 
Date: ___________________
 
Prepared By
Phone Number
Email Address
     
 
Servicer Loan Number
Servicer Address
EMC Loan Number
     
 
Borrower Name
Property Address
   
 
Liquidation Type
REO
Third Party
Short Sale
Charge off
Deed In Lieu
           
 

Has this loan been previously modified?
Yes
No
Has this loan been crammed down in a bankruptcy?
Yes
No
                If “Yes”, provide amount   _______________________________
 
            Liquidation and Acquisition Expenses:
 
             Amounts requiring Amortization Schedule for backup: 
Actual Unpaid Principal Balance of Mortgage Loan
 
Interest Accrued at Net Rate Less Servicing Fees
 
Accrued Servicing Fees
 
 
            Amounts requiring Additional backup:

Attorney’s Fees
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
Attorney’s Costs
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
Taxes
Payment history showing disbursements
 
Property Maintenance
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
Property Inspection
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
PMI/Hazard Insurance Premiums
Payment history showing disbursements
 
Utility Expenses
Payment history showing disbursements
 
Appraisal/BPO Expenses
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
HOA Dues
Payment history showing disbursements
 
Cash For Keys
Corporate advance history defining amounts paid, reimbursed, payee and reason codes
 
Miscellaneous (itemized)
Requires Itemization and supporting detail
 
Total Expenses
----------------------------------------
 
 
            Credits to Loan:

Escrow Balance/Advance
Payment history showing disbursements and ending balance
 
Rental Receipts
Payment history showing application of funds to loan
 
Hazard Claim Proceeds
Payment history showing credit to account
 
PMI Funds
EOB document
 
Government Insurance Funds (Part A Funds)
EOB document
 
REO Proceeds
HUD 1 Settlement Statement
 
Government Insurance Funds (Part B Funds)
EOB document
 
Pool Insurance Proceeds
Payment history showing credit to account
 
Other Credits (itemized)
Payment history showing credit to account
 
Total Credits
----------------------------------------
 
 
Total Realized Loss (or Amount of Gain)               $________________
 
NOTE: Do not combine or net remit items. All expenses and credits should be documented individually. Claim packages are due by the fifth business day of the month following receipt of liquidation proceeds. Late claims may result in delayed claim payment. The Servicer is responsible to remit all funds pending loss approval and /or resolution of any disputed items.
 

 



Attachment 7

EXHIBIT L to the SWS Agreement

The Company shall provide the Master Servicer with this Exhibit in the format below or such other format as mutually agreed upon between the Company and the Master Servicer for a period of seventy (70) days from the Effective Date.
 
Default Overview Report: Provides loan level detail regarding the defaulted loans that are being serviced and reported to EMC Master Servicing. The report contains the following data fields in the order below:
 
Field
 
Field Description
Servicer loan number
 
VARCHAR (15)
SBO loan number
 
VARCHAR (9)
Zip Code
 
VARCHAR (5)
Original loan amount
 
NUMERIC (12,2)
Original value amount
 
NUMERIC (12,2)
Origination date
 
DATE (MM/DD/YYYY)
Loan type
 
VARCHAR (2)
Actual due date
 
DATE (MM/DD/YYYY)
Current loan amount
 
NUMERIC (12,2)
Corporate expense balance
 
NUMERIC (12,2)
Escrow balance/advance balance
 
NUMERIC (12,2)
Suspense balance
 
NUMERIC (12,2)
Restricted escrow balance
 
NUMERIC (12,2)
Current Value date
 
DATE (MM/DD/YYYY)
Current value amount
 
NUMERIC (12,2)
Current value source
 
VARCHAR (15)
VA LGC/ FHA Case number
 
VARCHAR (15)
% of MI coverage
 
NUMERIC (7,7)
MI certificate number
 
VARCHAR (15)
LPMI Cost 
 
NUMERIC (7,7)
Occupancy status 
 
VARCHAR (1)
First vacancy date 
 
DATE (MM/DD/YYYY)
Property condition
 
VARCHAR (2)
Property type
 
VARCHAR (2)
Delinquency flag
 
VARCHAR (2)
Reason for default
 
VARCHAR (2)
FNMA action code
 
VARCHAR (3)
FNMA delinquency reason code
 
VARCHAR (3)
Loss mit flag
 
VARCHAR (2)
Loss mit type
 
VARCHAR (2)
Loss mit approval date
 
DATE (MM/DD/YYYY)
Loss mit removal date
 
DATE (MM/DD/YYYY)
Repay first due date 
 
DATE (MM/DD/YYYY)
Repay next due date
 
DATE (MM/DD/YYYY)
Repay plan broken/reinstated/closed date
 
DATE (MM/DD/YYYY)
Repay plan created date
 
DATE (MM/DD/YYYY)
Foreclosure flag
 
VARCHAR (2)
Foreclosure attorney referral date
 
DATE (MM/DD/YYYY)
Actual first legal date
 
DATE (MM/DD/YYYY)
Date FC sale scheduled
 
DATE (MM/DD/YYYY)
Foreclosure actual sale date 
 
DATE (MM/DD/YYYY)
Actual redemption end date
 
DATE (MM/DD/YYYY)
Actual eviction complete date
 
DATE (MM/DD/YYYY)
Actual eviction start date
 
DATE (MM/DD/YYYY)
Bankruptcy flag
 
VARCHAR (2)
Actual bankruptcy start date
 
DATE (MM/DD/YYYY)
Bankruptcy chapter
 
VARCHAR (2)
Bankruptcy Case Number
 
VARCHAR (15)
Post petition due date
 
DATE (MM/DD/YYYY)
Actual discharge date
 
DATE (MM/DD/YYYY)
Date relief/dismissal granted
 
DATE (MM/DD/YYYY)
Actual MI claim filed date
 
DATE (MM/DD/YYYY)
Actual MI claim amount filed
 
NUMERIC (12,2)
MI claim amount paid
 
NUMERIC (12,2)
MI claim funds received date
 
DATE (MM/DD/YYYY)
Title approval letter received date
 
DATE (MM/DD/YYYY)
Title package HUD/VA date
 
DATE (MM/DD/YYYY)
FHA 27011A transmitted date
 
DATE (MM/DD/YYYY)
FHA Part A funds received date
 
DATE (MM/DD/YYYY)
FHA 27011 B transmitted date
 
DATE (MM/DD/YYYY)
FHA Part B funds received date
 
DATE (MM/DD/YYYY)
VA NOE submitted date
 
DATE (MM/DD/YYYY)
VA first funds received amount
 
NUMERIC (12,2)
VA first funds received date
 
DATE (MM/DD/YYYY)
VA claim funds received date
 
DATE (MM/DD/YYYY)
VA claim submitted date
 
DATE (MM/DD/YYYY)
VA claims funds received amount
 
NUMERIC (12,2)
REO flag
 
VARCHAR (2)
REO repaired value
 
NUMERIC (12,2)
REO value (as is)
 
NUMERIC (12,2)
REO value date
 
DATE (MM/DD/YYYY)
REO value source
 
VARCHAR (15)
REO original list date 
 
DATE (MM/DD/YYYY)
REO original list price
 
NUMERIC (12,2)
REO list price adjustment amount
 
NUMERIC (12,2)
REO list price adjustment date
 
DATE (MM/DD/YYYY)
Date REO offer received
 
DATE (MM/DD/YYYY)
Date REO offer accepted
 
DATE (MM/DD/YYYY)
REO scheduled close date
 
DATE (MM/DD/YYYY)
REO actual closing date
 
DATE (MM/DD/YYYY)
REO sales price
 
NUMERIC (12,2)
REO net sales proceeds
 
NUMERIC (12,2)
Estimated loss
 
NUMERIC (12,2)

 




 
Attachment 8

EXHIBIT M to the SWS Agreement

Modified Loans Report: Provides loan level data regarding all loans that the Servicer has modified with the first modified payment due within thirty days following the end of the reporting cycle. The report contains the following data fields in the order below:
 
Field Description
 
Field Description
Loan
 
VARCHAR (15)
Investor
 
VARCHAR (5)
Original Category
 
VARCHAR (5)
Current Category
 
VARCHAR (5)
Stop Adv Flag
 
VARCHAR (3)
Modified Due Date
 
DATE (MM/DD/YYYY)
Mod Loan Curtailment
 
NUMERIC (15,2)
Mod Loan Curt Adjustment
 
NUMERIC (15,2) 
Principal Advanced Capped
 
NUMERIC (15,2) 
Net Interest Advanced Capped
 
NUMERIC (15,2)
Service Fee Advanced Capped
 
NUMERIC (15,2)
Third Party Bal Capped
 
NUMERIC (15,2)
Amount of Other Capped
 
NUMERIC (15,2)
Borrower Interest Contribution
 
NUMERIC (15,2)
Borrower Fee Code Arrearage Contribution
 
NUMERIC (15,2)
Borrower Principal Contribution
 
NUMERIC (15,2)
Amt Forgiven
 
NUMERIC (15,2)
Beg Delq Prin Bal
 
NUMERIC (15,2)
Beg Delq Int Bal
 
NUMERIC (15,2)
Beg Pre Prin Bal
 
NUMERIC (15,2)
Beg Pre Int Bal
 
NUMERIC (15,2)
Excess Int Adjust
 
NUMERIC (15,2)
Excess Interest on Mod
 
NUMERIC (15,2)

 




Attachment 9

EXHIBIT N to the SWS Agreement

Claims Submitted Report: Provides loan level detail regarding claims submitted by the servicer’s investor number that will be submitted to EMC Master Servicing and contains the following data fields in the order below:
 
Field
 
Field Description
Servicer Investor Number
 
VARCHAR (5)
Servicer Investor Category
 
VARCHAR (5)
Loan Number
 
VARCHAR (15)
Mortgage Group
 
VARCHAR (1)
Liquidation Type
 
VARCHAR (1)
Escrow Balance or Advance Balance
 
NUMERIC (12,2)
Corporate Expense Balance
 
NUMERIC (12,2)
Restricted Escrow Balance
 
NUMERIC (12,2)
Replacement Reserve Balance
 
NUMERIC (12,2)
Suspense Balance
 
NUMERIC (12,2)
Third Party Expense Balance
 
NUMERIC (12,2)
Charge Off Amount
 
NUMERIC (12,2)
Side Note Collections
 
NUMERIC (12,2)
Claim Amount Submitted
 
NUMERIC (12,2)

 



Attachment 10

EXHIBIT O to the SWS Agreement

Loss Severity Summary Report: Provides summary data at the deal level regarding loss severity that will be submitted to EMC Master Servicing and contains the following data fields in the order below:
 
Field
 
Field Description
Month End
 
DATE (MM/DD/YYYY)
Deal Name
 
VARCHAR (15)
Servicer Investor Number
 
VARCHAR (5)
Servicer Investor Category
 
VARCHAR (5)
Mortgage Group
 
VARCHAR (1)
Loan Number
 
VARCHAR (15)
Liquidation Type
 
VARCHAR (1)
Loan Due Date
 
DATE (MM/DD/YYYY)
PIF Date
 
DATE (MM/DD/YYYY)
Gross Interest Rate
 
NUMERIC (7,7)
Net Interest Rate
 
NUMERIC (7,7)
Service Fee Rate
 
NUMERIC (7,7)
P & I Constant
 
NUMERIC (12,2)
Scheduled Beginning Balance
 
NUMERIC (12,2)
Arrearage Balance
 
NUMERIC (12,2)
Total Legal and Other Expenses
 
NUMERIC (12,2)
Scheduled Advanced Interest
 
NUMERIC (12,2)
Scheduled Liquidated Amount
 
NUMERIC (12,2)
Gross Liquidation Proceeds
 
NUMERIC (12,2)
P & I Advance Balance
 
NUMERIC (12,2)
Delinquent Service Fee
 
NUMERIC (12,2)
Net Liquidation Proceeds
 
NUMERIC (12,2)
Scheduled Net Interest
 
NUMERIC (12,2)
Net Liquidated Funds Remitted
 
NUMERIC (12,2)
Total Loss (Gain) Amount
 
NUMERIC (12,2)
Total Loss (Gain) to Trust
 
NUMERIC (12,2)
Total Loss (Gain) to Servicer
 
NUMERIC (12,2)
Total Loss Severity %
 
NUMERIC (7,7)
Total Loss Severity % to Trust
 
NUMERIC (7,7)
Total Liquidated Remitted
 
NUMERIC (12,2)
Claim on Trust Loss
 
NUMERIC (12,2)
Claim on Servicer Loss
 
NUMERIC (12,2)
Total Claim Amount
 
NUMERIC (12,2)




Attachment 11
 
EXHIBIT P to the SWS Agreement
 

EMC MASTER SERVICING ASSET AUTHORITY LEVELS
 
All asset management decisions and claim submissions for both standard and delegated authority levels require the servicer to comply with all agency (ie: FNMA, FHLMC, HUD and VA) and insuring company requirements.
TASK
      STANDARD AUTHORITY LEVEL 
       DELEGATED AUTHORITY LEVEL
 
APPROVAL NEEDED?
 APPROVAL NEEDED IF….
 
APPROVAL NEEDED?
          APPROVAL NEEDED IF….
 
Partial Releases1 
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Assumptions1
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Relief Provisions1
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Forbearance Plans1
 
Yes
 
·  Plan exceeds 6 months or
·  Proposes to suspend payments
Yes
 
·  Plan exceeds 12 months or
·  Plan proposes to suspend payments
Modifications1, 2, 3, 4
 
Yes
 
·  In all instances
Yes
 
·  Only if the terms of the proposed modification exceed the parameters of the governing agreements or the loan is changed from an ARM to fixed rate or the rate is reduced by more than 2%
Pre-Foreclosure (short sales)1, 6
 
Yes
 
·  In all instances
Yes
 
·  The loss severity experienced is expected to be greater than 20%
Foreclosure Referral (1st liens)1
 
Yes
 
·  The UPB is less than $30k or greater than $400k or
·  The mortgagor has paid less than 6 installments
Yes
 
·  The UPB is less than$50k or greater than$750k or
·  The mortgagor has paid less than 6 installments
Foreclosure Referral (2nd liens)1,7
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Charge Offs
 
 
·  In all instances
 
·  If combined LTV is less than 80%
Buyout of 1st lien1, 4 ,6
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Foreclosure Bid1, 6
 
Yes
 
·  The UPB is less than $30k or greater than $400k or
·  The mortgagor has paid less than 6 installments
Yes
 
·  The UPB is less than $50k or greater than $750k or
·  The mortgagor has paid less than 6 installments
Third Party Sales1, 6
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Note Sales1, 6
 
Yes
 
·  In all instances
Yes
 
·  In all instances
Deed-in-Lieu 1, 6
 
Yes
 
·  In all instances
Yes
 
·  In all instances
REO Listing Price1, 5
 
Yes
 
·  The UPB was less than $50k or greater than $400k or
·  The mortgagor has paid less than 6 installments
Yes
 
·  The UPB was less than $50k or greater than $750k or
·  The mortgagor has paid less than 6 installments
REO Repairs (excluding property preservation)1
 
Yes
 
·  The necessary repairs total more than 1% of the UPB and an estimated return of less than 15% of cost
Yes
 
·  The necessary repairs total more than 2% of the UPB
REO Offers 1, 6
 
Yes
 
·  The loss severity of accepting the offer exceeds 25%
Yes
 
·  The loss severity of accepting the offer exceeds 25%
 
FOOT NOTES:
 
1.            
To request approval, the servicer may be required to submit the following documentation to the Master Servicer: property appraisals, BPOs, equity analysis documentation, correspondence from/to title insurance companies, copies of insurer approval, loss mitigation documents and agreements with mortgagors, hardship documentation, closing/settlement documents, value reconciliations and repair estimates. Although master servicer approval may have been obtained as outlined above, the master servicer reserves the right to approve or deny losses at the time of claim submission due to servicer performance related issues.
2.            
The Servicer agrees to provide to the Master Servicer copies of executed modifications within 10 days of execution.
3.            
The Owner / Master Servicer reserve the right to remove all authority to complete loan modifications to ensure compliance with limitations outlined in governing agreements.
4.            
The Servicer is to ensure that lien position is maintained in completing alternatives to foreclosure.
5.            
The Servicer agrees to provide to the Master Servicer copies of marketing plans for all REO loans. Although the servicer may have asset authority as outlined above, the Master Servicer reserves the right to modify anticipated courses of action.
6.            
Special notice of the task is required to be provided to the Master Servicer.
7.            
The Servicer assumes all risks in addition to financial liability for amounts beyond 100% severity of the Owner / Master Servicer’s original position.

 

 
 
 
 

 

 
EXHIBIT J
 

 
MORTGAGE LOAN PURCHASE AGREEMENT
 
 
between
 
 
EMC MORTGAGE CORPORATION
 
as Mortgage Loan Seller
 
 
and
 
 
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
 
as Purchaser
 
 
Dated as of
 
April 30, 2007
 




TABLE OF CONTENTS
 
SECTION 1. Definitions
 
SECTION 2. Purchase and Sale of the Mortgage Loans and Related Rights.
 
SECTION 3. Mortgage Loan Schedule
 
SECTION 4. Mortgage Loan Transfer.
 
SECTION 5. Examination of Mortgage Files.
 
SECTION 6. Recordation of Assignments of Mortgage.
 
SECTION 7. Representations and Warranties of Mortgage Loan Seller Concerning the Mortgage Loans
 
SECTION 8. Representations and Warranties Concerning the Mortgage Loan Seller
 
SECTION 9. Representations and Warranties Concerning the Purchaser
 
SECTION 10. Conditions to Closing.
 
SECTION 11. Fees and Expenses
 
SECTION 12. Accountants’ Letters.
 
SECTION 13. Indemnification.
 
SECTION 14. Notices
 
SECTION 15. Transfer of Mortgage Loans
 
SECTION 16. Termination
 
SECTION 17. Representations, Warranties and Agreements to Survive Delivery
 
SECTION 18. Severability
 
SECTION 19. Counterparts
 
SECTION 20. Amendment
 
SECTION 21. GOVERNING LAW
 
SECTION 22. Further Assurances
 
SECTION 23. Successors and Assigns.
 
SECTION 24. The Mortgage Loan Seller
 
SECTION 25. Entire Agreement
 
SECTION 26. No Partnership
 
 
EXHIBITS AND SCHEDULE TO
MORTGAGE LOAN PURCHASE AGREEMENT
 
Exhibit 1
Contents of Mortgage File
 
Exhibit 2
Mortgage Loan Schedule Information
 
Exhibit 3
Mortgage Loan Seller’s Information
 
Exhibit 4
Purchaser’s Information
 
Exhibit 5
Schedule of Lost Notes
 
Exhibit 6
Appendix E - Standard & Poor’s Anti-Predatory Lending Categorization
 
Schedule A
Required Ratings for Each Class of Certificates
 
Schedule B
Mortgage Loan Schedule
 
 
MORTGAGE LOAN PURCHASE AGREEMENT
 
MORTGAGE LOAN PURCHASE AGREEMENT, dated as of April 30, 2007, as amended and supplemented by any and all amendments hereto (collectively, the “Agreement”), by and between EMC MORTGAGE CORPORATION, a Delaware corporation (the “Mortgage Loan Seller”) and STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., a Delaware corporation (the “Purchaser”).
 
Upon the terms and subject to the conditions of this Agreement, the Mortgage Loan Seller agrees to sell, and the Purchaser agrees to purchase, certain conventional, first lien mortgage loans secured primarily by one- to four-family residential properties and individual condominium units (collectively, the “Mortgage Loans”) as described herein. The Purchaser intends to deposit the Mortgage Loans into a trust fund (the “Trust Fund”) and create Bear Stearns ARM Trust 2007-3, Mortgage Pass-Through Certificates, Series 2007-3 (the “Certificates”), under a pooling and servicing agreement, to be dated as of April 1, 2007 (the “Pooling and Servicing Agreement”), among the Purchaser, as depositor, EMC, as seller and as master servicer (in such capacity, the “Master Servicer”), and Wells Fargo Bank, N.A., as trustee (the “Trustee”).
 
The Purchaser has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-3 (Number 333-140247) relating to its Mortgage Pass-Through Certificates and the offering of certain series thereof (including certain classes of the Certificates) from time to time in accordance with Rule 415 under the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder (the “Securities Act”). Such registration statement, when it became effective under the Securities Act, and the prospectus relating to the public offering of certain classes of the Certificates by the Purchaser (the “Public Offering”), as each may be amended or supplemented from time to time pursuant to the Securities Act or otherwise, are referred to herein as the “Registration Statement” and the “Prospectus,” respectively. The “Prospectus Supplement” shall mean that supplement, dated April [_], 2007, to the Prospectus, dated March 20, 2007, relating to certain classes of the Certificates. With respect to the Public Offering of certain classes of the Certificates, the Purchaser and Bear, Stearns & Co. Inc. (“Bear Stearns”) have entered into a terms agreement dated as of April [__], 2007 to an underwriting agreement dated February 26, 2007, between the Purchaser and Bear Stearns (together, the “Underwriting Agreement”).
 
Now, therefore, in consideration of the premises and the mutual agreements set forth herein, the parties hereto agree as follows:
 
SECTION 1.   Definitions. Certain terms are defined herein. Capitalized terms used herein but not defined herein shall have the meanings specified in the Pooling and Servicing Agreement. The following other terms are defined as follows:
 
Acquisition Price: Cash in an amount equal to $______ (plus $______ in accrued interest).1 
 
Bear Stearns: Bear, Stearns & Co. Inc.
 
Closing Date: April 30, 2007.
 
Cut-off Date: April 1, 2007
 
Cut-off Date Balance: $811,993,920.91
 
Deleted Mortgage Loan: A Mortgage Loan replaced or to be replaced by a Substitute Mortgage Loan.
 
Due Date: With respect to each Mortgage Loan, the date in each month on which its scheduled payment is due if such due date is the first day of a month and otherwise is deemed to be the first day of the following month or such other date specified in the related Servicing Agreement.
 
EMC: EMC Mortgage Corporation.
 
Fitch: Fitch, Inc., or its successors in interest.
 
Master Servicer: EMC Mortgage Corporation
 
MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
 
MERS® System: The system of recording transfers of Mortgages electronically maintained by MERS.
 
[Moody’s: Moody’s Investors Service, Inc., or its successors in interest.]
 
Mortgage: The mortgage, deed of trust or other instrument creating a first lien on an interest in real property securing a Mortgage Note.
 
Mortgage File: The items referred to in Exhibit 1 pertaining to a particular Mortgage Loan and any additional documents required to be added to such documents pursuant to this Agreement or the Pooling and Servicing Agreement.
 
Mortgage Interest Rate: The annual rate of interest borne by a Mortgage Note as stated therein.
 
Mortgagor: The obligor(s) on a Mortgage Note.
 
Net Rate: For each Mortgage Loan, the Mortgage Interest Rate for such Mortgage Loan less the sum of (i) the Servicing Fee Rate, (ii) the Trustee Fee Rate and (iii) the rate at which the Lender-Paid PMI Rate is calculated (if applicable).
 
Opinion of Counsel: A written opinion of counsel, who may be counsel for the Mortgage Loan Seller or the Purchaser, reasonably acceptable to the Trustee.
 
Person: Any legal person, including any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.
 
Purchase Price: With respect to any Mortgage Loan (or any property acquired with respect thereto) required to be repurchased by the Mortgage Loan Seller pursuant to this Agreement or Article II of the Pooling and Servicing Agreement, an amount equal to the sum of (i)(a) 100% of the Outstanding Principal Balance of such Mortgage Loan as of the date of repurchase (or if the related Mortgaged Property was acquired with respect thereto, 100% of the Outstanding Principal Balance at the date of the acquisition), plus (b) accrued but unpaid interest on the Outstanding Principal Balance at the related Mortgage Interest Rate, through and including the last day of the month of repurchase, plus (c) any unreimbursed Monthly Advances and servicing advances payable to the related Servicer of the Mortgage Loan and (ii) any costs and damages (if any) incurred by the Trust in connection with any violation of such Mortgage Loan of any anti-predatory lending laws.
 
Rating Agencies: Standard & Poor’s [, Moody’s] and Fitch, each a “Rating Agency.”
 
Securities Act: The Securities Act of 1933, as amended.
 
Security Instrument: A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.
 
Servicing Agreement: Shall have the meaning assigned to such term in the Pooling and Servicing Agreement.
 
Standard & Poor’s: Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or its successors in interest.
 
Substitute Mortgage Loan: A mortgage loan substituted for a Deleted Mortgage Loan which must meet, on the date of such substitution, the requirements stated herein and in the Pooling and Servicing Agreement with respect to such substitution; upon such substitution, such mortgage loan shall be a “Mortgage Loan” hereunder.
 
Value: The value of the Mortgaged Property at the time of origination of the related Mortgage Loan, such value being the lesser of (i) the value of such property set forth in an appraisal accepted by the applicable originator of the Mortgage Loan or (ii) the sales price of such property at the time of origination.
 
SECTION 2.   Purchase and Sale of the Mortgage Loans and Related Rights.  
 
(a)  Upon satisfaction of the conditions set forth in Section 10 hereof, the Mortgage Loan Seller agrees to sell, and the Purchaser agrees to purchase the Mortgage Loans having an aggregate outstanding principal balance as of the Cut-off Date equal to the Cut-off Date Balance.
 
(b)  The closing for the purchase and sale of the Mortgage Loans and the closing for the issuance of the Certificates will take place on the Closing Date at the office of the Purchaser’s counsel in New York, New York or such other place as the parties shall agree.
 
(c)  Upon the satisfaction of the conditions set forth in Section 10 hereof, on the Closing Date, the Purchaser shall pay to the Mortgage Loan Seller the Acquisition Price for the Mortgage Loans in immediately available funds by wire transfer to such account or accounts as shall be designated by the Mortgage Loan Seller.
 
(d)  In addition to the foregoing, on the Closing Date the Mortgage Loan Seller assigns to the Purchaser all of its right, title and interest in the Servicing Agreement (other than its right to enforce the representations and warranties set forth therein).
 
SECTION 3.   Mortgage Loan Schedule.  The Mortgage Loan Seller agrees to provide to the Purchaser as of the date hereof a listing of the Mortgage Loans (the “Mortgage Loan Schedule”) setting forth the information listed on Exhibit 2 to this Agreement with respect to each of the Mortgage Loans being sold by the Mortgage Loan Seller.
 
SECTION 4.   Mortgage Loan Transfer. 
 
(a)  The Purchaser will be entitled to all scheduled payments of principal and interest on the Mortgage Loans due after the Cut-off Date (regardless of when actually collected) and all payments thereon, other than scheduled principal and interest due on or before the Cut-off Date but received after the Cut-off Date. The Mortgage Loan Seller will be entitled to all scheduled payments of principal and interest on the Mortgage Loans due on or before the Cut-off Date (including payments collected after the Cut-off Date) and all payments thereon, other than scheduled principal and interest due after the Cut-off Date but received on or before the Cut-off Date. Such principal amounts and any interest thereon belonging to the Mortgage Loan Seller as described above will not be included in the aggregate outstanding principal balance of the Mortgage Loans as of the Cut-off Date as set forth on the Mortgage Loan Schedule.
 
(b)  Pursuant to various conveyance documents to be executed on the Closing Date and pursuant to the Pooling and Servicing Agreement, the Purchaser will assign on the Closing Date all of its right, title and interest in and to the Mortgage Loans to the Trustee for the benefit of the Certificateholders. In connection with the transfer and assignment of the Mortgage Loans, the Mortgage Loan Seller has delivered or will deliver or cause to be delivered to the Trustee, or the Custodian on behalf of the Trustee, by the Closing Date or such later date as is agreed to by the Purchaser and the Mortgage Loan Seller (each of the Closing Date and such later date is referred to as a “Mortgage File Delivery Date”), the items of the Custodian’s Mortgage File, provided, however, that in lieu of the foregoing, the Mortgage Loan Seller may deliver the following documents, under the circumstances set forth below: (i) in lieu of the original Security Instrument, assignments to the Trustee or intervening assignments thereof which have been delivered, are being delivered or will, upon receipt of recording information relating to the Security Instrument required to be included thereon, be delivered to recording offices for recording and have not been returned to the Mortgage Loan Seller in time to permit their delivery as specified above, the Mortgage Loan Seller may deliver a true copy thereof with a certification, on the face of such copy, substantially as follows: “Certified to be a true and correct copy of the original;” (ii) in lieu of the Security Instrument, assignments to the Trustee or intervening assignments thereof, if the applicable jurisdiction retains the originals of such documents (as evidenced by a certification from the Mortgage Loan Seller to such effect), the Mortgage Loan Seller may deliver photocopies of such documents containing an original certification by the judicial or other governmental authority of the jurisdiction where such documents were recorded; (iii) in lieu of the Mortgage Notes relating to the Mortgage Loans, each identified in the list delivered by the Purchaser to the Trustee on the Closing Date and attached hereto as Exhibit 5 the Mortgage Loan Seller may deliver lost note affidavits and indemnities of the Mortgage Loan Seller; and (iv) the Mortgage Loan Seller shall not be required to deliver intervening assignments or Mortgage Note endorsements between the related Underlying Seller and the Mortgage Loan Seller, between the Mortgage Loan Seller and the Depositor, and between the Depositor and the Trustee; and provided further, however, that in the case of Mortgage Loans which have been prepaid in full after the Cut-off Date and prior to the Closing Date, the Mortgage Loan Seller, in lieu of delivering the above documents, may deliver to the Trustee or the Custodian, on its behalf, a certification by the Mortgage Loan Seller or the Master Servicer to such effect and shall deposit all amounts paid in respect of such Mortgage Loans in the Distribution Account on the Closing Date. The Mortgage Loan Seller shall deliver such original documents (including any original documents as to which certified copies had previously been delivered) or such certified copies to the Trustee, or the Custodian on behalf of the Trustee, promptly after they are received. The Mortgage Loan Seller shall cause the Mortgage and intervening assignments, if any, and the assignment of the Security Instrument to be recorded not later than 180 days after the Closing Date unless such assignment is not required to be recorded under the terms set forth in Section 6(a) hereof.
 
(c)  In connection with the assignment of any Mortgage Loan registered on the MERS® System, the Mortgage Loan Seller further agrees that it will cause, at the Mortgage Loan Seller’s own expense, within 30 days after the Closing Date, the MERS® System to indicate that such Mortgage Loans have been assigned by the Mortgage Loan Seller to the Purchaser and by the Purchaser 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 Mortgage Loan Seller further agrees that it will not, and will not permit any Servicer or the Master Servicer to alter the codes referenced in this paragraph with respect to any Mortgage Loan during the term of the Pooling and Servicing Agreement unless and until such Mortgage Loan is repurchased in accordance with the terms of the Pooling and Servicing Agreement.
 
(d)  The Mortgage Loan Seller and the Purchaser acknowledge hereunder that all of the Mortgage Loans and the related servicing will ultimately be assigned to Wells Fargo, N.A., as Trustee for the Certificateholders, on the date hereof.
 
SECTION 5.   Examination of Mortgage Files. 
 
(a)  On or before the Mortgage File Delivery Date, the Mortgage Loan Seller will have made the Mortgage Files available to the Purchaser or its agent for examination which may be at the offices of the Trustee or the Mortgage Loan Seller and/or the Mortgage Loan Seller’s custodian. The fact that the Purchaser or its agent has conducted or has failed to conduct any partial or complete examination of the Mortgage Files shall not affect the Purchaser’s rights to demand cure, repurchase, substitution or other relief as provided in this Agreement. In furtherance of the foregoing, the Mortgage Loan Seller shall make the Mortgage Files available to the Purchaser or its agent from time to time so as to permit the Purchaser to confirm the Mortgage Loan Seller’s compliance with the delivery and recordation requirements of this Agreement and the Pooling and Servicing Agreement. In addition, upon request of the Purchaser, the Mortgage Loan Seller agrees to provide to the Purchaser, Bear Stearns and to any investors or prospective investors in the Certificates information regarding the Mortgage Loans and their servicing, to make the Mortgage Files available to the Purchaser, Bear Stearns and to such investors or prospective investors (which may be at the offices of the Mortgage Loan Seller and/or the Mortgage Loan Seller’s custodian) and to make available personnel knowledgeable about the Mortgage Loans for discussions with the Purchaser, Bear Stearns and such investors or prospective investors, upon reasonable request during regular business hours, sufficient to permit the Purchaser, Bear Stearns and such investors or potential investors to conduct such due diligence as any such party reasonably believes is appropriate.
 
(b)  Pursuant to the Pooling and Servicing Agreement, on the Closing Date the Custodian, on behalf of the Trustee, for the benefit of the Certificateholders, will acknowledge receipt of each Mortgage Loan, by delivery to the Mortgage Loan Seller, the Purchaser and the Trustee of an initial certification in the form attached as Exhibit One to the Custodial Agreement.
 
(c)  Pursuant to the Pooling and Servicing Agreement, within 90 days of the Closing Date (or, with respect to any Substitute Mortgage Loan, within five business days after the receipt by the Trustee or Custodian thereof), the Trustee will review or shall cause the Custodian to review items of the Mortgage Files as set forth on Exhibit 1 and will deliver to the Mortgage Loan Seller, the Purchaser and the Trustee an interim certification substantially in the form of Exhibit Two to the Custodial Agreement. If the Trustee or Custodian, as its agent, finds any document listed on Exhibit 1 not to have been executed or received, or to be unrelated, determined on the basis of the Mortgagor name, original principal balance and loan number, to the Mortgage Loans identified in the Mortgage Loan Schedule or to appear defective on its face (a “Material Defect”), the Trustee or the Custodian, as its agent, shall promptly notify the Mortgage Loan Seller of such Material Defect. The Mortgage Loan Seller shall correct or cure any such Material Defect within 90 days from the date of notice from the Trustee or the Custodian, on its behalf, of the Material Defect and if the Mortgage Loan Seller fails to correct or cure such Material Defect within such period and such defect materially and adversely affects the interests of the Certificateholders in the related Mortgage Loan, the Mortgage Loan Seller will, in accordance with the terms of the Pooling and Servicing Agreement, within 90 days of the date of notice, provide the Trustee with a Substitute Mortgage Loan (if within two years of the Closing Date) or purchase the related Mortgage Loan at the applicable Purchase Price; provided that, if such 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, repurchase or substitution must occur within 90 days from the date such breach was discovered; provided, however, that if such defect relates solely to the inability of the Mortgage Loan Seller to deliver the original Security Instrument or intervening assignments thereof, or a certified copy because the originals of such documents, or a certified copy, have not been returned by the applicable jurisdiction, the Mortgage Loan Seller shall not be required to purchase such Mortgage Loan if the Mortgage Loan Seller delivers such original documents or certified copy promptly upon receipt, but in no event later than 360 days after the Closing Date. The foregoing repurchase obligation shall not apply in the event that the Mortgage Loan Seller cannot deliver such original or copy of any document submitted for recording to the appropriate recording office in the applicable jurisdiction because such document has not been returned by such office; provided that the Mortgage Loan Seller shall instead deliver a recording receipt of such recording office or, if such receipt is not available, a certificate confirming that such documents have been accepted for recording, and delivery to the Trustee or the Custodian, as its agent, shall be effected by the Mortgage Loan Seller within thirty days of its receipt of the original recorded document.
 
(d)  Pursuant to the Pooling and Servicing Agreement, within 180 days of the Closing Date (or, with respect to any Substitute Mortgage Loan, within five business days after the receipt by the Trustee or Custodian thereof) the Trustee will review or cause the Custodian to review items of the Mortgage Files as set forth on Exhibit 1 and will deliver to the Mortgage Loan Seller, the Purchaser and the Trustee a final certification substantially in the form of Exhibit Three to the Custodial Agreement. If the Trustee or Custodian, as its agent, finds a Material Defect, the Trustee or the Custodian, as its agent, shall promptly notify the Mortgage Loan Seller of such Material Defect. The Mortgage Loan Seller shall correct or cure any such Material Defect within 90 days from the date of notice from the Trustee or the Custodian, as its agent, of the Material Defect and if the Mortgage Loan Seller fails to correct or cure such Material Defect within such period and such defect materially and adversely affects the interests of the Certificateholders in the related Mortgage Loan, the Mortgage Loan Seller will, in accordance with the terms of the Pooling and Servicing Agreement, within 90 days of the date of notice, provide the Trustee with a Substitute Mortgage Loan (if within two years of the Closing Date) or purchase the related Mortgage Loan at the applicable Purchase Price; provided that, if such 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, repurchase or substitution must occur within 90 days from the date such breach was discovered; provided, however, that if such defect relates solely to the inability of the Mortgage Loan Seller to deliver the original Security Instrument or intervening assignments thereof, or a certified copy because the originals of such documents, or a certified copy, have not been returned by the applicable jurisdiction, the Mortgage Loan Seller shall not be required to purchase such Mortgage Loan if the Mortgage Loan Seller delivers such original documents or certified copy promptly upon receipt, but in no event later than 360 days after the Closing Date. The foregoing repurchase obligation shall not apply in the event that the Mortgage Loan Seller cannot deliver such original or copy of any document submitted for recording to the appropriate recording office in the applicable jurisdiction because such document has not been returned by such office; provided that the Mortgage Loan Seller shall instead deliver a recording receipt of such recording office or, if such receipt is not available, a certificate confirming that such documents have been accepted for recording, and delivery to the Trustee or the Custodian, as its agent, shall be effected by the Mortgage Loan Seller within thirty days of its receipt of the original recorded document.
 
(e)  At the time of any substitution, the Mortgage Loan Seller shall deliver or cause to be delivered the Substitute Mortgage Loan, the related Mortgage File and any other documents and payments required to be delivered in connection with a substitution pursuant to the Pooling and Servicing Agreement. At the time of any purchase or substitution, the Trustee in accordance with the terms of the Pooling and Servicing Agreement shall (i) assign to the Mortgage Loan Seller and cause the Custodian to release the documents (including, but not limited to, the Mortgage, Mortgage Note and other contents of the Mortgage File) in the possession of the Custodian relating to the Deleted Mortgage Loan and (ii) execute and deliver such instruments of transfer or assignment, in each case without recourse, as shall be necessary to vest in the Mortgage Loan Seller title to such Deleted Mortgage Loan.
 
SECTION 6.   Recordation of Assignments of Mortgage. 
 
(a)  The Mortgage Loan Seller shall cause each assignment of the Security Instrument from the Mortgage Loan Seller to the Trustee to be recorded not later than 180 days after the Closing Date, unless (a) such recordation is not required by the Rating Agencies or an Opinion of Counsel has been provided to the Trustee (with a copy to the Custodian) which states that the recordation of such assignment is not necessary to protect the interests of the Certificateholders in the related Mortgage Loans or (b) 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 Mortgage Loan Seller and its successors and assigns; provided, however, notwithstanding the delivery of any such Opinion of Counsel, each assignment of Mortgage shall be submitted for recording by the Mortgage Loan Seller in the manner described above, at no expense to the Trust Fund or Trustee, upon the earliest to occur of (i) reasonable direction by the Holders of Certificates evidencing Fractional Undivided Interests aggregating not less than 25% of the Trust, (ii) the occurrence of an Event of Default, (iii) the occurrence of a bankruptcy, insolvency or foreclosure relating to the Mortgage Loan Seller and, (iv) the occurrence of a servicing transfer as described in Section 8.02 of the Pooling and Servicing Agreement.
 
While each such Mortgage or assignment is being recorded, if necessary, the Mortgage Loan Seller shall leave or cause to be left with the Trustee a certified copy of such Mortgage or assignment. All customary recording fees and reasonable expenses relating to the recordation of the assignments of mortgage to the Trustee or the Opinion of Counsel, as the case may be, shall be borne by the Mortgage Loan Seller.
 
(b)  It is the express intent of the parties hereto that the conveyance of the Mortgage Loans by the Mortgage Loan Seller to the Purchaser, as contemplated by this Agreement be, and be treated as, a sale. It is, further, not the intention of the parties that such conveyance be deemed a pledge of the Mortgage Loans by the Mortgage Loan Seller to the Purchaser to secure a debt or other obligation of the Mortgage Loan Seller. However, in the event that, notwithstanding the intent of the parties, the Mortgage Loans are held by a court of competent jurisdiction to continue to be property of the Mortgage Loan Seller, then (i) this Agreement shall also be deemed to be a security agreement within the meaning of Articles 8 and 9 of the applicable Uniform Commercial Code; (ii) the transfer of the Mortgage Loans provided for herein shall be deemed to be a grant by the Mortgage Loan Seller to the Purchaser of a security interest in all of the Mortgage Loan Seller’s right, title and interest in and to the Mortgage Loans and all amounts payable to the holders of the Mortgage Loans in accordance with the terms thereof and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property, to the extent the Purchaser would otherwise be entitled to own such Mortgage Loans and proceeds pursuant to Section 4 hereof, including all amounts, other than investment earnings, from time to time held or invested in any accounts created pursuant to the Pooling and Servicing Agreement, whether in the form of cash, instruments, securities or other property; (iii) the possession by the Purchaser or the Trustee of Mortgage Notes and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” for purposes of perfecting the security interest pursuant to Section 9-313 (or comparable provision) of the applicable Uniform Commercial Code; and (iv) 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, financial intermediaries, bailees or agents (as applicable) of the Purchaser for the purpose of perfecting such security interest under applicable law. Any assignment of the interest of the Purchaser pursuant to any provision hereof or pursuant to the Pooling and Servicing Agreement shall also be deemed to be an assignment of any security interest created hereby. The Mortgage Loan Seller and the Purchaser shall, to the extent consistent with this Agreement, take such actions as may be reasonably necessary to ensure that, if this Agreement were deemed to create a security interest in the Mortgage Loans, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the term of the Pooling and Servicing Agreement.
 
SECTION 7.   Representations and Warranties of Mortgage Loan Seller Concerning the Mortgage Loans. The Mortgage Loan Seller hereby represents and warrants to the Purchaser as of the Closing Date, or such other date as may be specified below with respect to each Mortgage Loan being sold by it, that:
 
(i)  the information set forth in the Mortgage Loan Schedule hereto is true and correct in all material respects;
 
(ii)  immediately prior to the transfer to the Purchaser, the Mortgage Loan Seller was the sole owner of beneficial title and holder of each Mortgage and Mortgage Note relating to the Mortgage Loans and is conveying the same free and clear of any and all liens, claims, encumbrances, participation interests, equities, pledges, charges or security interests of any nature and the Mortgage Loan Seller has full right and authority to sell or assign the same pursuant to this Agreement;
 
(iii)  each Mortgage Loan at the time it was made complied in all material respects with all applicable local, state and federal laws and regulations, including, without limitation, usury, equal credit opportunity, disclosure and recording laws and all applicable predatory, abusive and fair lending laws; and each Mortgage Loan has been serviced in all material respects in accordance with all applicable local, state and federal laws and regulations, including, without limitation, usury, equal credit opportunity, disclosure and recording laws and all applicable anti-predatory lending laws and the terms of the related Mortgage Note, the Mortgage and other loan documents;
 
(iv)  there is no monetary default existing under any Mortgage or the related Mortgage Note and there is no material event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach or event of acceleration; and neither the Mortgage Loan Seller, any of its affiliates nor any servicer of any related Mortgage Loan has taken any action to waive any default, breach or event of acceleration; and no foreclosure action is threatened or has been commenced with respect to the Mortgage Loan;
 
(v)  the terms of the Mortgage Note and the Mortgage have not been impaired, waived, altered or modified in any respect, except by written instruments, (i) if required by law in the jurisdiction where the Mortgaged Property is located, or (ii) to protect the interests of the Trustee on behalf of the Certificateholders;
 
(vi)  no selection procedure reasonably believed by the Mortgage Loan Seller to be adverse to the interests of the Certificateholders was utilized in selecting the Mortgage Loans;
 
(vii)  each Mortgage is a valid and enforceable first lien on the property securing the related Mortgage Note and each Mortgaged Property is owned by the Mortgagor in fee simple (except with respect to common areas in the case of condominiums, PUDs and de minimis PUDs) or by leasehold for a term longer than the term of the related Mortgage, subject only to (i) the lien of current real property taxes and assessments, (ii) covenants, conditions and restrictions, rights of way, easements and other matters of public record as of the date of recording of such Mortgage, such exceptions being acceptable to mortgage lending institutions generally or specifically reflected in the appraisal obtained in connection with the origination of the related Mortgage Loan or referred to in the lender’s title insurance policy delivered to the originator of the related Mortgage Loan and (iii) other matters to which like properties are commonly subject which do not materially interfere with the benefits of the security intended to be provided by such Mortgage;
 
(viii)  there is no mechanics’ lien or claim for work, labor or material affecting the premises subject to any Mortgage which is or may be a lien prior to, or equal with, the lien of such Mortgage except those which are insured against by the title insurance policy referred to in xiii below;
 
(ix)  there was no delinquent tax or assessment lien against the property subject to any Mortgage, except where such lien was being contested in good faith and a stay had been granted against levying on the property;
 
(x)  there is no valid offset, defense or counterclaim to any Mortgage Note or Mortgage, including the obligation of the Mortgagor to pay the unpaid principal and interest on such Mortgage Note;
 
(xi)  the physical property subject to any Mortgage is free of material damage and is in good repair and there is no proceeding pending or threatened for the total or partial condemnation of any Mortgaged Property;
 
(xii)  the Mortgaged Property and all improvements thereon comply with all requirements of any applicable zoning and subdivision laws and ordinances;
 
(xiii)  a lender’s title insurance policy (on an ALTA or CLTA form) or binder, or other assurance of title customary in the relevant jurisdiction therefor in a form acceptable to Fannie Mae or Freddie Mac, was issued on the date that each Mortgage Loan was created by a title insurance company which, to the best of the Mortgage Loan Seller’s knowledge, was qualified to do business in the jurisdiction where the related Mortgaged Property is located, insuring the Mortgage Loan Seller and its successors and assigns that the Mortgage is a first priority lien on the related Mortgaged Property in the original principal amount of the Mortgage Loan; and the Mortgage Loan Seller is the sole insured under such lender’s title insurance policy, and such policy, binder or assurance is valid and remains in full force and effect, and each such policy, binder or assurance shall contain all applicable endorsements including a negative amortization endorsement, if applicable; with respect to any junior lien Mortgage Loan, other than any Piggyback Loan that has an initial principal amount less than or equal to $200,000, (a) a lender’s title insurance policy or binder, or other assurance of title customary in the relevant jurisdiction therefore in a form acceptable to Fannie Mae or Freddie Mac, was issued on the date that each Mortgage Loan was created by a title insurance company which, to the best of the Mortgage Loan Seller’s knowledge, was qualified to do business in the jurisdiction where the related Mortgaged Property is located, insuring the related seller and its successors and assigns; and the Mortgage Loan Seller is the sole insured under such lender’s title insurance policy, and such policy, binder or assurance is valid and remains in full force and effect, and each such policy, binder or assurance shall contain all applicable endorsements including a negative amortization endorsement, if applicable, or (b) a  lien search  was conducted at the time of origination with respect to the related Mortgaged Property;
 
(xiv)  at the time of origination, each Mortgaged Property was the subject of an appraisal which conformed to the underwriting requirements of the originator of the Mortgage Loan and, the appraisal is in a form acceptable to Fannie Mae or FHLMC;
 
(xv)  the improvements on each Mortgaged Property securing a Mortgage Loan are insured (by an insurer which is acceptable to the Mortgage Loan Seller) against loss by fire and such hazards as are covered under a standard extended coverage endorsement in the locale in which the Mortgaged Property is located, in an amount which is not less than the lesser of the maximum insurable value of the improvements securing such Mortgage Loan or the outstanding principal balance of the Mortgage Loan, but in no event in an amount less than an amount that is required to prevent the Mortgagor from being deemed to be a co-insurer thereunder; if the improvement on the Mortgaged Property is a condominium unit, it is included under the coverage afforded by a blanket policy for the condominium project; if upon origination of the related Mortgage Loan, the improvements on the Mortgaged Property were in an area identified as a federally designated flood area, a flood insurance policy is in effect in an amount representing coverage not less than the least of (i) the outstanding principal balance of the Mortgage Loan, (ii) the restorable cost of improvements located on such Mortgaged Property or (iii) the maximum coverage available under federal law; and each Mortgage obligates the Mortgagor thereunder to maintain the insurance referred to above at the Mortgagor’s cost and expense;
 
(xvi)  each Mortgage Loan constitutes a "qualified mortgage" under Section 860G(a)(3)(A) of the Code and Treasury Regulation Section 1.860G-2(a)(1), (2), (4), (5), (6), (7) and (9) 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), (6), (7) and (9);
 
(xvii)  none of the Mortgage Loans are (a) loans subject to 12 CFR Part 226.31, 12 CFR Part 226.32 or 12 CFR Part 226.34 of Regulation Z, the regulation implementing TILA, which implements the Home Ownership and Equity Protection Act of 1994, as amended or (b) “high cost home,” “covered” (excluding home loans defined as “covered home loans” in the New Jersey Home Ownership Security Act of 2002 that were originated between November 26, 2003 and July 7, 2004), “high risk home” or “predatory” loans under any applicable state, federal or local law (or a similarly classified loan using different terminology under a law imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees);
 
(xviii)  the information set forth in Schedule A of the Prospectus Supplement with respect to the Mortgage Loans is true and correct in all material respects;
 
(xix)  no Mortgage Loan (a) is a “high cost loan” or “covered loan” as applicable (as such terms are defined in the then current Standard & Poor’s LEVELS® Glossary, which is now Version 5.6c, Appendix E, attached hereto as Exhibit 6 or (b) was originated on or after October 1, 2002 through March 6, 2003 and is governed by the Georgia Fair Lending Act;
 
(xx)  each Mortgage Loan was originated in accordance with the underwriting guidelines of the related originator;
 
(xxi)  each original Mortgage has been recorded or is in the process of being recorded in accordance with the requirements of Section 2.01 of the Pooling and Servicing Agreement in the appropriate jurisdictions wherein such recordation is required to perfect the lien thereof for the benefit of the Trust Fund;
 
(xxii)  the related Mortgage File contains each of the documents and instruments listed in Section 2.01 of the Pooling and Servicing Agreement, subject to any exceptions, substitutions and qualifications as are set forth in such Section;
 
(xxiii)  the Mortgage Loans are currently being serviced in accordance with accepted servicing practices;
 
(xxiv)  with respect to each Mortgage Loan that has a prepayment penalty feature, each such prepayment penalty is enforceable and will be enforced by the Mortgage Loan Seller and each prepayment penalty is permitted pursuant to federal, state and local law. In addition, with respect to each Mortgage Loan (i) no Mortgage Loan will impose a prepayment penalty for a term in excess of five years from the date such Mortgage Loan was originated and (ii) such prepayment penalty is at least equal to the lesser of (A) the maximum amount permitted under applicable law and (B) six months interest at the related Mortgage Interest Rate on the amount prepaid in excess of 20% of the original principal balance of such Mortgage Loan.
 
(xxv)  if any of the Mortgage Loans are secured by a leasehold interest, with respect to each leasehold interest: the use of leasehold estates for residential properties is an accepted practice in the area where the related Mortgaged Property is located; residential property in such area consisting of leasehold estates is readily marketable; the lease is recorded and no party is in any way in breach of any provision of such lease; the leasehold is in full force and effect and is not subject to any prior lien or encumbrance by which the leasehold could be terminated or subject to any charge or penalty; and the remaining term of the lease does not terminate less than ten years after the maturity date of such Mortgage Loan; and
 
(xxvi)  each Mortgage Loan was originated (a)  by a savings and loan association, savings bank, commercial bank, credit union, insurance company or similar institution that is supervised and examined by a federal or state authority, (b) by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, as amended, or (c) by a mortgage broker or correspondent lender in a manner such that the related Mortgage Loan would be regarded for purposes of Section 3(a)(41) of the Securities Exchange Act of 1934, as amended, as having been originated by an entity described in clauses (a) or (b) above.
 
It is understood and agreed that the representations and warranties set forth in this Section 7 will inure to the benefit of the Purchaser, its successors and assigns, notwithstanding any restrictive or qualified endorsement on any Mortgage Note or assignment of Mortgage or the examination of any Mortgage File. Upon any substitution for a Mortgage Loan, the representations and warranties set forth above shall be deemed to be made by the Mortgage Loan Seller as to any Substitute Mortgage Loan as of the date of substitution.
 
Upon discovery or receipt of notice by the Mortgage Loan Seller, the Purchaser or the Trustee of a breach of any representation or warranty of the Mortgage Loan Seller set forth in this Section 7 which materially and adversely affects the value of the interests of the Purchaser, the Certificateholders or the Trustee in any of the Mortgage Loans delivered to the Purchaser pursuant to this Agreement, the party discovering or receiving notice of such breach shall give prompt written notice to the others. In the case of any such breach of a representation or warranty set forth in this Section 7, within 90 days from the date of discovery by the Mortgage Loan Seller, or the date the Mortgage Loan Seller is notified by the party discovering or receiving notice of such breach (whichever occurs earlier), the Mortgage Loan Seller will (i) cure such breach in all material respects, (ii) purchase the affected Mortgage Loan at the applicable Purchase Price or (iii) if within two years of the Closing Date, substitute a qualifying Substitute Mortgage Loan in exchange for such Mortgage Loan. The obligations of the Mortgage Loan Seller to cure, purchase or substitute a qualifying Substitute Mortgage Loan shall constitute the Purchaser’s, the Trustee’s and the Certificateholder’s sole and exclusive remedy under this Agreement or otherwise respecting a breach of representations or warranties hereunder with respect to the Mortgage Loans, except for the obligation of the Mortgage Loan Seller to indemnify the Purchaser for such breach as set forth in and limited by Section 13 hereof.
 
Any cause of action against the Mortgage Loan Seller or relating to or arising out of a breach by the Mortgage Loan Seller of any representations and warranties made in this Section 7 shall accrue as to any Mortgage Loan upon (i) discovery of such breach by the Mortgage Loan Seller or notice thereof by the party discovering such breach and (ii) failure by the Mortgage Loan Seller to cure such breach, purchase such Mortgage Loan or substitute a qualifying Substitute Mortgage Loan pursuant to the terms hereof.
 
SECTION 8.   Representations and Warranties Concerning the Mortgage Loan Seller.  As of the date hereof and as of the Closing Date, the Mortgage Loan Seller represents and warrants to the Purchaser as to itself in the capacity indicated as follows:
 
(a)  the Mortgage Loan Seller (i) is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and (ii) is qualified and in good standing to do business in each jurisdiction where such qualification is necessary, except where the failure so to qualify would not reasonably be expected to have a material adverse effect on the Mortgage Loan Seller’s business as presently conducted or on the Mortgage Loan Sellers ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(b)  the Mortgage Loan Seller has full corporate power to own its property, to carry on its business as presently conducted and to enter into and perform its obligations under this Agreement;
 
(c)  the execution and delivery by the Mortgage Loan Seller of this Agreement have been duly authorized by all necessary action on the part of the Mortgage Loan Seller; and neither the execution and delivery of this Agreement, nor the consummation of the transactions herein contemplated, nor compliance with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on the Mortgage Loan Seller or its properties or the charter or by-laws of the Mortgage Loan Seller, except those conflicts, breaches or defaults which would not reasonably be expected to have a material adverse effect on the Mortgage Loan Seller’s ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(d)  the execution, delivery and performance by the Mortgage Loan Seller of this Agreement and the consummation of the transactions contemplated hereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of any other action in respect of, any state, federal or other governmental authority or agency, except those consents, approvals, notices, registrations or other actions as have already been obtained, given or made and, in connection with the recordation of the Mortgages, powers of attorney or assignments of Mortgages not yet completed;
 
(e)  this Agreement has been duly executed and delivered by the Mortgage Loan Seller and, assuming due authorization, execution and delivery by the Purchaser, constitutes a valid and binding obligation of the Mortgage Loan Seller enforceable against it in accordance with its terms (subject to applicable bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally);
 
(f)  there are no actions, suits or proceedings pending or, to the knowledge of the Mortgage Loan Seller, threatened against the Mortgage Loan Seller, before or by any court, administrative agency, arbitrator or governmental body (i) with respect to any of the transactions contemplated by this Agreement or (ii) with respect to any other matter which in the judgment of the Mortgage Loan Seller will be determined adversely to the Mortgage Loan Seller and will if determined adversely to the Mortgage Loan Seller materially and adversely affect the Mortgage Loan Seller’s ability to perform its obligations under this Agreement; and the Mortgage Loan Seller is not in default with respect to any order of any court, administrative agency, arbitrator or governmental body so as to materially and adversely affect the transactions contemplated by this Agreement; and
 
(g)  the Mortgage Loan Seller’s Information (as defined in Section 13(a) hereof) does not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.
 
SECTION 9.   Representations and Warranties Concerning the Purchaser.  As of the date hereof and as of the Closing Date, the Purchaser represents and warrants to the Mortgage Loan Seller as follows:
 
(a)  the Purchaser (i) is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and (ii) is qualified and in good standing as a foreign corporation to do business in each jurisdiction where such qualification is necessary, except where the failure so to qualify would not reasonably be expected to have a material adverse effect on the Purchaser’s business as presently conducted or on the Purchaser’s ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(b)  the Purchaser has full corporate power to own its property, to carry on its business as presently conducted and to enter into and perform its obligations under this Agreement;
 
(c)  the execution and delivery by the Purchaser of this Agreement have been duly authorized by all necessary corporate action on the part of the Purchaser; and neither the execution and delivery of this Agreement, nor the consummation of the transactions herein contemplated, nor compliance with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of any law, governmental rule, regulation, judgment, decree or order binding on the Purchaser or its properties or the articles of incorporation or by-laws of the Purchaser, except those conflicts, breaches or defaults which would not reasonably be expected to have a material adverse effect on the Purchaser’s ability to enter into this Agreement and to consummate the transactions contemplated hereby;
 
(d)  the execution, delivery and performance by the Purchaser of this Agreement and the consummation of the transactions contemplated hereby do not require the consent or approval of, the giving of notice to, the registration with, or the taking of any other action in respect of, any state, federal or other governmental authority or agency, except those consents, approvals, notices, registrations or other actions as have already been obtained, given or made;
 
(e)  this Agreement has been duly executed and delivered by the Purchaser and, assuming due authorization, execution and delivery by the Mortgage Loan Seller, constitutes a valid and binding obligation of the Purchaser enforceable against it in accordance with its terms (subject to applicable bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally);
 
(f)  there are no actions, suits or proceedings pending or, to the knowledge of the Purchaser, threatened against the Purchaser, before or by any court, administrative agency, arbitrator or governmental body (i) with respect to any of the transactions contemplated by this Agreement or (ii) with respect to any other matter which in the judgment of the Purchaser will be determined adversely to the Purchaser and will if determined adversely to the Purchaser materially and adversely affect the Purchaser’s ability to perform its obligations under this Agreement; and the Purchaser is not in default with respect to any order of any court, administrative agency, arbitrator or governmental body so as to materially and adversely affect the transactions contemplated by this Agreement; and
 
(g)  the Purchaser’s Information (as defined in Section 13(b) hereof) does not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.
 
SECTION 10.   Conditions to Closing. 
 
(a)  The obligations of the Purchaser under this Agreement will be subject to the satisfaction, on or prior to the Closing Date, of the following conditions:
 
(i)  Each of the obligations of the Mortgage Loan Seller required to be performed at or prior to the Closing Date pursuant to the terms of this Agreement shall have been duly performed and complied with in all material respects; all of the representations and warranties of the Mortgage Loan Seller under this Agreement shall be true and correct as of the date or dates specified in all material respects; and no event shall have occurred which, with notice or the passage of time, would constitute a default under this Agreement, or the Pooling and Servicing Agreement; and the Purchaser shall have received certificates to that effect signed by authorized officers of the Mortgage Loan Seller.
 
(ii)  The Purchaser shall have received all of the following closing documents, in such forms as are agreed upon and reasonably acceptable to the Purchaser, duly executed by all signatories (other than the Purchaser) as required pursuant to the respective terms thereof:
 
(1)  The Pooling and Servicing Agreement, in form and substance reasonably satisfactory to the Trustee and the Purchaser, and all documents required thereby duly executed by all signatories;
 
(2)  A certificate of an officer of the Mortgage Loan Seller dated as of the Closing Date, in a form reasonably acceptable to the Purchaser, and attached thereto the resolutions of the Mortgage Loan Seller authorizing the transactions contemplated by this Agreement, together with copies of the articles of incorporation, by-laws and certificate of good standing of the Mortgage Loan Seller;
 
(3)  One or more opinions of counsel from the Mortgage Loan Seller’s counsel otherwise in form and substance reasonably satisfactory to the Purchaser, the Trustee and each Rating Agency;
 
(4)  A letter from each of the Rating Agencies giving each Class of Certificates set forth on Schedule A hereto the rating set forth therein; and
 
(5)  Such other documents, certificates (including additional representations and warranties) and opinions as may be reasonably necessary to secure the intended ratings from each Rating Agency for the Certificates.
 
(iii)  The Certificates to be sold to Bear Stearns pursuant to the Underwriting Agreement and the Purchase Agreement shall have been issued and sold to Bear Stearns.
 
(iv)  The Mortgage Loan Seller shall have furnished to the Purchaser such other certificates of its officers or others and such other documents and opinions of counsel to evidence fulfillment of the conditions set forth in this Agreement and the transactions contemplated hereby as the Purchaser and its counsel may reasonably request.
 
(b)  The obligations of the Mortgage Loan Seller under this Agreement shall be subject to the satisfaction, on or prior to the Closing Date, of the following conditions:
 
(i)  The obligations of the Purchaser required to be performed by it on or prior to the Closing Date pursuant to the terms of this Agreement shall have been duly performed and complied with in all material respects, and all of the representations and warranties of the Purchaser under this Agreement shall be true and correct in all material respects as of the date hereof and as of the Closing Date, and no event shall have occurred which would constitute a breach by it of the terms of this Agreement or the Pooling and Servicing Agreement, and the Mortgage Loan Seller shall have received a certificate to that effect signed by an authorized officer of the Purchaser.
 
(ii)  The Mortgage Loan Seller shall have received copies of all of the following closing documents, in such forms as are agreed upon and reasonably acceptable to the Mortgage Loan Seller, duly executed by all signatories other than the Mortgage Loan Seller as required pursuant to the respective terms thereof:
 
(1)  The Pooling and Servicing Agreement, in form and substance reasonably satisfactory to the Mortgage Loan Seller, and all documents required thereby duly executed by all signatories;
 
(2)  A certificate of an officer of the Purchaser dated as of the Closing Date, in a form reasonably acceptable to the Mortgage Loan Seller, and attached thereto the resolutions of the Purchaser authorizing the transactions contemplated by this Agreement and the Pooling and Servicing Agreement, together with copies of the Purchaser’s articles of incorporation, and evidence as to the good standing of the Purchaser dated as of a recent date;
 
(3)  One or more opinions of counsel from the Purchaser’s counsel in form and substance reasonably satisfactory to the Mortgage Loan Seller;
 
(4)  Such other documents, certificates (including additional representations and warranties) and opinions as may be reasonably necessary to secure the intended rating from each Rating Agency for the Certificates;
 
SECTION 11.   Fees and Expenses.  Subject to Section 16 hereof, the Mortgage Loan Seller shall pay on the Closing Date or such later date as may be agreed to by the Purchaser (i) the fees and expenses of the Mortgage Loan Seller’s attorneys and the reasonable fees and expenses of the Purchaser’s attorneys, (ii) the fees and expenses of Deloitte & Touche LLP, (iii) the fee for the use of Purchaser’s Registration Statement based on the aggregate original principal amount of the Certificates and the filing fee of the Commission as in effect on the date on which the Registration Statement was declared effective, (iv) the fees and expenses including counsel’s fees and expenses in connection with any “blue sky” and legal investment matters, (v) the fees and expenses of the Trustee which shall include without limitation the fees and expenses of the Trustee (and the fees and disbursements of its counsel) with respect to (A) legal and document review of this Agreement, the Pooling and Servicing Agreement, the Certificates and related agreements, (B) attendance at the Closing and (C) review of the Mortgage Loans to be performed by the Custodian, (vi) the expenses for printing or otherwise reproducing the Certificates, the Prospectus and the Prospectus Supplement, (vii) the fees and expenses of each Rating Agency (both initial and ongoing), (viii) the fees and expenses relating to the preparation and recordation of mortgage assignments (including intervening assignments, if any and if available, to evidence a complete chain of title from the originator to the Trustee) from the Mortgage Loan Seller to the Trustee or the expenses relating to the Opinion of Counsel referred to in Section 6(a) hereof, as the case may be, and (ix) Mortgage File due diligence expenses and other out-of-pocket expenses incurred by the Purchaser in connection with the purchase of the Mortgage Loans and by Bear Stearns in connection with the sale of the Certificates. The Mortgage Loan Seller additionally agrees to pay directly to any third party on a timely basis the fees provided for above which are charged by such third party and which are billed periodically.
 
SECTION 12.   Accountants’ Letters.  
 
(a)  Deloitte & Touche LLP will review the characteristics of a sample of the Mortgage Loans described in the Mortgage Loan Schedule and will compare those characteristics to the description of the Mortgage Loans contained in the Prospectus Supplement under the captions “Summary of Prospectus Supplement—The Mortgage Loans”, “The Mortgage Pool”, “The Sponsor” and in Schedule A thereto. The Mortgage Loan Seller will cooperate with the Purchaser in making available all information and taking all steps reasonably necessary to permit such accountants to complete the review and to deliver the letters required of them under the Underwriting Agreement. Deloitte & Touche LLP will also confirm certain calculations as set forth under the caption “Yield On The Certificates” in the Prospectus Supplement.
 
(b)  To the extent statistical information with respect to the Master Servicer’s or a Servicer’s servicing portfolio is included in the Prospectus Supplement under the caption “The Master Servicer and the Servicers,” a letter from the certified public accountant for the Master Servicer and such Servicer or Servicers will be delivered to the Purchaser dated the date of the Prospectus Supplement, in the form previously agreed to by the Mortgage Loan Seller and the Purchaser, with respect to such statistical information.
 
SECTION 13.   Indemnification. 
 
(a)  The Mortgage Loan Seller shall indemnify and hold harmless the Purchaser and its directors, officers and controlling persons (as defined in Section 15 of the Securities Act) from and against any loss, claim, damage or liability or action in respect thereof, to which they or any of them may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon any untrue statement of a material fact contained in the Mortgage Loan Seller’s Information as identified in Exhibit 3, the omission to state in the Prospectus Supplement or Prospectus (or any amendment thereof or supplement thereto approved by the Mortgage Loan Seller and in which additional Mortgage Loan Seller’s Information is identified), in reliance upon and in conformity with Mortgage Loan Seller’s Information a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances in which they were made, not misleading; and the Mortgage Loan Seller shall reimburse the Purchaser and each other indemnified party for any legal and other expenses reasonably incurred by them in connection with investigating or defending or preparing to defend against any such loss, claim, damage, liability or action.
 
The foregoing indemnity agreement is in addition to any liability which the Mortgage Loan Seller otherwise may have to the Purchaser or any other such indemnified party.
 
(b)  The Purchaser shall indemnify and hold harmless the Mortgage Loan Seller and its respective directors, officers and controlling persons (as defined in Section 15 of the Securities Act) from and against any loss, claim, damage or liability or action in respect thereof, to which they or any of them may become subject, under the Securities Act or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon (i) any untrue statement of a material fact contained in the Purchaser’s Information as identified in Exhibit 4, the omission to state in the Prospectus Supplement or Prospectus (or any amendment thereof or supplement thereto approved by the Purchaser and in which additional Purchaser’s Information is identified), in reliance upon and in conformity with the Purchaser’s Information, a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances in which they were made, not misleading; and the Purchaser shall reimburse the Mortgage Loan Seller, and each other indemnified party for any legal and other expenses reasonably incurred by them in connection with investigating or defending or preparing to defend any such loss, claim, damage, liability or action. The foregoing indemnity agreement is in addition to any liability which the Purchaser otherwise may have to the Mortgage Loan Seller, or any other such indemnified party,
 
(c)  Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify each party against whom indemnification is to be sought in writing of the commencement thereof (but the failure so to notify an indemnifying party shall not relieve it from any liability which it may have under this Section 13 except to the extent that it has been prejudiced in any material respect by such failure or from any liability which it may have otherwise). In case any such action is brought against any indemnified party, and it notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent it may elect by written notice delivered to the indemnified party promptly (but, in any event, within 30 days) after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party or parties shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the employment of such counsel shall have been authorized in writing by one of the indemnifying parties in connection with the defense of such action, (ii) the indemnifying parties shall not have employed counsel to have charge of the defense of such action within a reasonable time after notice of commencement of the action, or (iii) such indemnified party or parties shall have reasonably concluded that there is a conflict of interest between itself or themselves and the indemnifying party in the conduct of the defense of any claim or that the interests of the indemnified party or parties are not substantially co-extensive with those of the indemnifying party (in which case the indemnifying parties shall not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any of which events such fees and expenses shall be borne by the indemnifying parties (provided, however, that the indemnifying party shall be liable only for the fees and expenses of one counsel in addition to one local counsel in the jurisdiction involved. Anything in this subsection to the contrary notwithstanding, an indemnifying party shall not be liable for any settlement or any claim or action effected without its written consent; provided, however, that such consent was not unreasonably withheld.
 
(d)  If the indemnification provided for in paragraphs (a) and (b) of this Section 13 shall for any reason be unavailable to an indemnified party in respect of any loss, claim, damage or liability, or any action in respect thereof, referred to in Section 13, then the indemnifying party shall in lieu of indemnifying the indemnified party contribute to the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or action in respect thereof, in such proportion as shall be appropriate to reflect the relative benefits received by the Mortgage Loan Seller on the one hand and the Purchaser on the other from the purchase and sale of the Mortgage Loans, the offering of the Certificates and the other transactions contemplated hereunder. No person found liable for a fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who is not also found liable for such fraudulent misrepresentation.
 
(e)  The parties hereto agree that reliance by an indemnified party on any publicly available information or any information or directions furnished by an indemnifying party shall not constitute negligence, bad faith or willful misconduct by such indemnified party.
 
SECTION 14.   Notices.  All demands, notices and communications hereunder shall be in writing but may be delivered by facsimile transmission subsequently confirmed in writing. Notices to the Mortgage Loan Seller shall be directed to EMC Mortgage Corporation, 2780 Lake Vista Drive, Lewisville, Texas 75067, (Facsimile: (214) 626-4889), Attention: Michelle Viner, and notices to the Purchaser shall be directed to Structured Asset Mortgage Investments II Inc., 383 Madison Avenue, New York, New York 10179 (Telecopy: (212) 272-7206), Attention: Baron Silverstein; or to any other address as may hereafter be furnished by one party to the other party by like notice. Any such demand, notice or communication hereunder shall be deemed to have been received on the date received at the premises of the addressee (as evidenced, in the case of registered or certified mail, by the date noted on the return receipt) provided that it is received on a business day during normal business hours and, if received after normal business hours, then it shall be deemed to be received on the next business day.
 
SECTION 15.   Transfer of Mortgage Loans.  The Purchaser retains the right to assign the Mortgage Loans and any or all of its interest under this Agreement to the Trustee without the consent of the Mortgage Loan Seller, and, upon such assignment, the Trustee shall succeed to the applicable rights and obligations of the Purchaser hereunder; provided, however, the Purchaser shall remain entitled to the benefits set forth in Sections 11, 13 and 17 hereto and as provided in Section 2(a). Notwithstanding the foregoing, the sole and exclusive right and remedy of the Trustee with respect to a breach of representation or warranty of the Mortgage Loan Seller shall be the cure, purchase or substitution obligations of the Mortgage Loan Seller contained in Sections 5 and 7 hereof.
 
SECTION 16.   Termination.  This Agreement may be terminated (a) by the mutual consent of the parties hereto prior to the Closing Date, (b) by the Purchaser, if the conditions to the Purchaser’s obligation to close set forth under Section 10(a) hereof are not fulfilled as and when required to be fulfilled or (c) by the Mortgage Loan Seller, if the conditions to the Mortgage Loan Seller’s obligation to close set forth under Section 10(b) hereof are not fulfilled as and when required to be fulfilled. In the event of termination pursuant to clause (b), the Mortgage Loan Seller shall pay, and in the event of termination pursuant to clause (c), the Purchaser shall pay, all reasonable out-of-pocket expenses incurred by the other in connection with the transactions contemplated by this Agreement. In the event of a termination pursuant to clause (a), each party shall be responsible for its own expenses.
 
SECTION 17.   Representations, Warranties and Agreements to Survive Delivery.  All representations, warranties and agreements contained in this Agreement, or contained in certificates of officers of the Mortgage Loan Seller submitted pursuant hereto, shall remain operative and in full force and effect and shall survive delivery of the Mortgage Loans to the Purchaser (and by the Purchaser to the Trustee). Subsequent to the delivery of the Mortgage Loans to the Purchaser, the Mortgage Loan Seller’s representations and warranties contained herein with respect to the Mortgage Loans shall be deemed to relate to the Mortgage Loans actually delivered to the Purchaser and included in the Mortgage Loan Schedule and any Substitute Mortgage Loan.
 
SECTION 18.   Severability.  If any provision of this Agreement shall be prohibited or invalid under applicable law, the Agreement shall be ineffective only to such extent, without invalidating the remainder of this Agreement.
 
SECTION 19.   Counterparts.  This Agreement may be executed in counterparts, each of which will be an original, but which together shall constitute one and the same agreement.
 
SECTION 20.   Amendment.  This Agreement cannot be amended or modified in any manner without the prior written consent of each party.
 
SECTION 21.   GOVERNING LAW.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW) AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
 
SECTION 22.   Further Assurances.  Each of the parties agrees to execute and deliver such instruments and take such actions as another party may, from time to time, reasonably request in order to effectuate the purpose and to carry out the terms of this Agreement including any amendments hereto which may be required by either Rating Agency.
 
SECTION 23.   Successors and Assigns. 
 
This Agreement shall bind and inure to the benefit of and be enforceable by the Mortgage Loan Seller and the Purchaser and their permitted successors and assigns and, to the extent specified in Section 13 hereof, Bear Stearns, and their directors, officers and controlling persons (within the meaning of federal securities laws). The Mortgage Loan Seller acknowledges and agrees that the Purchaser may assign its rights under this Agreement (including, without limitation, with respect to the Mortgage Loan Seller’s representations and warranties respecting the Mortgage Loans) to the Trustee. Any person into which the Mortgage Loan Seller may be merged or consolidated (or any person resulting from any merger or consolidation involving the Mortgage Loan Seller), any person resulting from a change in form of the Mortgage Loan Seller or any person succeeding to the business of the Mortgage Loan Seller, shall be considered the “successor” of the Mortgage Loan Seller hereunder and shall be considered a party hereto without the execution or filing of any paper or any further act or consent on the part of any party hereto. Except as provided in the two preceding sentences and in Section 15 hereto this Agreement cannot be assigned, pledged or hypothecated by either party hereto without the written consent of the other parties to this Agreement and any such assignment or purported assignment shall be deemed null and void.
 
SECTION 24.   The Mortgage Loan Seller and the Purchaser. The Mortgage Loan Seller and the Purchaser will keep in full effect all rights as are necessary to perform their respective obligations under this Agreement.
 
SECTION 25.   Entire Agreement. This Agreement contains the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof.
 
SECTION 26.   No Partnership.  Nothing herein contained shall be deemed or construed to create a partnership or joint venture between the parties hereto.
 
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
 

1 Please contact Bear, Stearns & Co. Inc. for Acquisition Price.



IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective duly authorized officers as of the date first above written.
 
              EMC MORTGAGE CORPORATION
                           
                           
             
By:
 
             
Name:
 
             
Title:
 


             
STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.
                           
                           
             
By:
 
             
Name:
Joseph T. Jurkowski, Jr.
             
Title:
Vice President
 

EXHIBIT 1
 
CONTENTS OF MORTGAGE FILE
 
With respect to each Mortgage Loan, the Mortgage File shall include each of the following items, which shall be available for inspection by the Purchaser or its designee, and which shall be delivered to the Purchaser or its designee pursuant to the terms of the Agreement.
 
(a)  with respect to each Mortgage Loan:
 
(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 a lost note affidavit together with a copy of the related Mortgage Note;
 
(ii)  The original Mortgage and, if the related Mortgage Loan is a MOM Loan, noting the presence of the MIN and language indicating that such Mortgage Loan is a MOM Loan, which shall have been recorded (or, if the original is not available, a copy), with evidence of such recording indicated thereon (or if the original is not available, a copy), with evidence of such recording indicated thereon (or if the original Security Instrument, assignments to the Trustee or intervening assignments thereof which have been delivered, are being delivered or will, upon receipt of recording information relating to the Security Instrument required to be included thereon, be delivered to recording offices for recording and have not been returned to the Mortgage Loan Seller in time to permit their recording as specified in Section 2.01(b) of the Pooling and Servicing Agreement, shall be in recordable form);
 
(iii)  unless the Mortgage Loan is a MOM Loan, a certified copy of the assignment (which may be in the form of a blanket assignment if permitted in the jurisdiction in which the Mortgaged Property is located) to “Wells Fargo, N.A., as Trustee”, with evidence of recording with respect to each Mortgage Loan in the name of the Trustee thereon (or if (A) the original Security Instrument, assignments to the Trustee or intervening assignments thereof which have been delivered, are being delivered or will, upon receipt of recording information relating to the Security Instrument required to be included thereon, be delivered to recording offices for recording and have not been returned to the Mortgage Loan Seller in time to permit their delivery as specified in Section 2.01(b) of the Pooling and Servicing Agreement, the Mortgage Loan Seller may deliver a true copy thereof with a certification, on the face of such copy, substantially as follows: “Certified to be a true and correct copy of the original,” or (B) the related Mortgaged Property is located in a state other than Maryland and an Opinion of Counsel has been provided as set forth in Section 2.01(b) of the Pooling and Servicing Agreement, shall be in recordable form);
 
(iv)  all intervening assignments of the Security Instrument, if applicable and only to the extent available to the Mortgage Loan Seller with evidence of recording thereon;
 
(v)  the original or a copy of the policy or certificate of primary mortgage guaranty insurance, to the extent available, if any;
 
(vi)  the original policy of title insurance or mortgagee’s certificate of title insurance or commitment or binder for title insurance; and
 
(vii)  originals of all modification agreements, if applicable and available.
 

EXHIBIT 2
 
MORTGAGE LOAN SCHEDULE INFORMATION
 
The Mortgage Loan Schedule shall set forth the following information with respect to each Mortgage Loan:
 
 
(a)
the city, state and zip code of the Mortgaged Property;
 
(b)
the property type;
 
(c)
the Mortgage Interest Rate;
 
(d)
the Servicing Fee Rate;
 
(e)
the Trustee Fee Rate;
 
(f)
the LPMI Fee, if applicable;
 
(g)
[reserved];
 
(h)
the Net Rate;
 
(i)
the maturity date;
 
(j)
the stated original term to maturity;
 
(k)
the stated remaining term to maturity;
 
(l)
the original Principal Balance;
 
(m)
the first payment date;
 
(n)
the principal and interest payment in effect as of the Cut-off Date;
 
(o)
the unpaid Principal Balance as of the Cut-off Date;
 
(p)
the Loan-to-Value Ratio at origination;
 
(q)
the insurer of any Primary Mortgage Insurance Policy;
 
(r)
the MIN with respect to each MOM Loan;
 
(s)
the Gross Margin, if applicable;
 
(t)
the next Adjustment Date, if applicable;
 
(u)
the Maximum Mortgage Rate, if applicable;
 
(v)
the Minimum Mortgage Rate, if applicable;
 
(w)
the Periodic Rate Cap, if applicable;
 
(x)
the Loan Group, if applicable;
 
(y)
a code indicating whether the Mortgage Loan is negatively amortizing;
 
(z)
which Mortgage Loans adjust after an initial fixed-rate period of one, two, three, five, seven or ten years or any other period;
 
(aa)
the Prepayment Charge, if any;
 
(bb)
lien position (e.g., first lien or second lien);
 
(cc)
a code indicating whether the Mortgage Loan is has a balloon payment;
 
(dd)
a code indicating whether the Mortgage Loan is an interest-only loan;
 
(ee)
the interest-only term, if applicable;
 
(ff)
the Mortgage Loan Seller; and
 
(gg)
the original amortization term.
 
Such schedule also shall set forth for all of the Mortgage Loans, the total number of Mortgage Loans, the total of each of the amounts described under (n) and (j) above, the weighted average by principal balance as of the Cut-off Date of each of the rates described under (c) through (h) above, and the weighted average remaining term to maturity by unpaid principal balance as of the Cut-off Date.
 

EXHIBIT 3
 
MORTGAGE LOAN SELLER’S INFORMATION
 
All information in the Prospectus Supplement described under the following Sections: “SUMMARY OF PROSPECTUS SUPPLEMENT — The Mortgage Loans,” “THE MORTGAGE POOL,” “THE SPONSOR” and “SCHEDULE A — CERTAIN CHARACTERISTICS OF THE MORTGAGE LOANS.”
 
 
EXHIBIT 4
 
PURCHASER’S INFORMATION
 
All information in the Prospectus Supplement and the Prospectus, except the Mortgage Loan Seller’s Information.
 

EXHIBIT 5
 
SCHEDULE OF LOST NOTES
 
Available Upon Request
 
 
EXHIBIT 6

REVISED October 20, 2006
 
APPENDIX E - Standard & Poor’s Predatory Lending Categories
 
Standard & Poor’s has categorized loans governed by anti-predatory lending laws in the Jurisdictions listed below into three categories based upon a combination of factors that include (a) the risk exposure associated with the assignee liability and (b) the tests and thresholds set forth in those laws. Note that certain loans classified by the relevant statute as Covered are included in Standard & Poor’s High Cost Loan Category because they included thresholds and tests that are typical of what is generally considered High Cost by the industry.
 
 
Standard & Poor’s High Cost Loan Categorization
 
State/Jurisdiction
 
Name of Anti-Predatory Lending Law/Effective Date
 
Category under Applicable Anti-Predatory Lending Law
Arkansas
 
 
Arkansas Home Loan Protection Act, Ark. Code Ann. §§ 23-53-101 et seq.
Effective July 16, 2003
 
 
High Cost Home Loan
 
Cleveland Heights, OH
 
 
Ordinance No. 72-2003 (PSH), Mun. Code §§ 757.01 et seq.
Effective June 2, 2003
 
 
Covered Loan
 
Colorado
 
 
Consumer Equity Protection, Colo. Stat. Ann. §§ 5-3.5-101 et seq.
Effective for covered loans offered or entered into on or after January 1, 2003. Other provisions of the Act took effect on June 7, 2002
 
 
Covered Loan
 
Connecticut
 
 
Connecticut Abusive Home Loan Lending Practices Act, Conn. Gen. Stat. §§ 36a-746 et seq.
Effective October 1, 2001
 
 
High Cost Home Loan
 
District of Columbia
 
 
Home Loan Protection Act, D.C. Code §§ 26-1151.01 et seq.
Effective for loans closed on or after January 28, 2003
 
 
Covered Loan
 
Florida
 
 
Fair Lending Act, Fla. Stat. Ann. §§ 494.0078 et seq.
Effective October 2, 2002
 
 
High Cost Home Loan
 
Georgia (Oct. 1, 2002 - Mar. 6, 2003)
 
 
Georgia Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq. Effective October 1, 2002 - March 6, 2003
 
 
High Cost Home Loan
 
Georgia as amended (Mar. 7, 2003 - current)
 
 
Georgia Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
Effective for loans closed on or after March 7, 2003
 
 
High Cost Home Loan
 
HOEPA Section 32
 
 
Home Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1639, 12 C.F.R. §§ 226.32 and 226.34
Effective October 1, 1995, amendments October 1, 2002
 
 
High Cost Loan
 
Illinois
 
 
High Risk Home Loan Act, Ill. Comp. Stat. tit. 815, §§ 137/5 et seq.
Effective January 1, 2004 (prior to this date, regulations under Residential Mortgage License Act effective from May 14, 2001)
 
 
High Risk Home Loan
 
Indiana
 
 
Indiana Home Loan Practices Act, Ind. Code Ann. §§ 24-9-1-1 et seq.
Effective January 1, 2005; amended by 2005 HB 1179, effective July 1, 2005.
 
 
High Cost Home Loans
 
Kansas
 
 
Consumer Credit Code, Kan. Stat. Ann. §§ 16a-1-101 et seq.
Sections 16a-1-301 and 16a-3-207 became effective April 14, 1999; Section 16a-3-308a became effective July 1, 1999
 
 
High Loan to Value Consumer Loan (id. § 16a-3-207) and;
High APR Consumer Loan (id. §16a-3-308a)
 
     
Kentucky
 
 
2003 KY H.B. 287 - High Cost Home Loan Act, Ky. Rev. Stat. §§ 360.100 et seq.
Effective June 24, 2003
 
 
High Cost Home Loan
 
Maine
 
 
Truth in Lending, Me. Rev. Stat. tit. 9-A, §§ 8-101 et seq.
Effective September 29, 1995 and as amended from time to time
 
 
High Rate High Fee Mortgage
 
Massachusetts
 
 
Part 40 and Part 32, 209 C.M.R. §§ 32.00 et seq. and 209 C.M.R. §§ 40.01 et seq.
Effective March 22, 2001 and amended from time to time
 
 
High Cost Home Loan
 
Nevada
 
 
Assembly Bill No. 284, Nev. Rev. Stat. §§ 598D.010 et seq.
Effective October 1, 2003
 
 
Home Loan
 
New Jersey
 
 
New Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22 et seq.
Effective for loans closed on or after November 27, 2003
 
 
High Cost Home Loan
 
New Mexico
 
 
Home Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq.
Effective as of January 1, 2004; Revised as of February 26, 2004
 
 
High Cost Home Loan
 
New York
 
 
N.Y. Banking Law Article 6-l
Effective for applications made on or after April 1, 2003
 
 
High Cost Home Loan
 
North Carolina
 
 
Restrictions and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E et seq.
Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit)
 
 
High Cost Home Loan
 
Ohio
 
 
H.B. 386 (codified in various sections of the Ohio Code), Ohio Rev. Code Ann. §§ 1349.25 et seq.
Effective May 24, 2002
 
 
Covered Loan
 
Oklahoma
 
 
Consumer Credit Code (codified in various sections of Title 14A)
Effective July 1, 2000; amended effective January 1, 2004
 
 
Subsection 10 Mortgage
 
Rhode Island
 
 
Rhode Island Home Loan Protection Act, R.I. Gen. Laws §§ 34-25.2-1 et seq.
Effective December 31, 2006.
 
 
High Cost Home Loan
 
South Carolina
 
 
South Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann. §§ 37-23-10 et seq.
Effective for loans taken on or after January 1, 2004
 
 
High Cost Home Loan
 
Tennessee
 
 
Tennessee Home Loan Protection Act, Tenn. Code Ann. §§ 45-20-101 et seq.
Effective January 1, 2007.
 
 
High Cost Home Loan
 
West Virginia
 
 
West Virginia Residential Mortgage Lender, Broker and Servicer Act, W. Va. Code Ann. §§ 31-17-1 et seq.
Effective June 5, 2002
 
 
West Virginia Mortgage Loan Act Loan
 
 

 
 
Standard & Poor’s Covered Loan Categorization
 
State/Jurisdiction
 
Name of Anti-Predatory Lending Law/Effective Date
 
Category under Applicable Anti-Predatory Lending Law
Georgia (Oct. 1, 2002 - Mar. 6, 2003)
 
Georgia Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
Effective October 1, 2002 - March 6, 2003
 
 
Covered Loan
New Jersey
 
New Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22 et seq.
Effective November 27, 2003 - July 5, 2004
 
 
Covered Home Loan
 
 
Standard & Poor’s Home Loan Categorization
 
State/Jurisdiction
 
 
Name of Anti-Predatory Lending Law/Effective Date
 
Category under Applicable Anti-Predatory Lending Law
Georgia (Oct. 1, 2002 - Mar. 6, 2003)
 
Georgia Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq.
Effective October 1, 2002 - March 6, 2003
 
 
Home Loan
New Jersey
 
New Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat. §§ 46:10B-22 et seq.
Effective for loans closed on or after November 27, 2003
 
 
Home Loan
New Mexico
 
Home Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq.
Effective as of January 1, 2004; Revised as of February 26, 2004
 
 
Home Loan
North Carolina
 
Restrictions and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E et seq.
Effective July 1, 2000; amended October 1, 2003 (adding open-end lines of credit)
 
 
Consumer Home Loan
South Carolina
 
South Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann. §§ 37-23-10 et seq.
Effective for loans taken on or after January 1, 2004
 
 
Consumer Home Loan
 

SCHEDULE A
 
REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES
 
Public Certificates

Class
S&P
Fitch
Class I-A-1
[AAA
AAA
Class I-X-1
AAA
AAA
Class I-A-2
AAA
AAA
Class II-A-1
AAA
AAA
Class II-X-1
AAA
AAA
Class II-A-2
AAA
AAA
Class III-A-1
AAA
AAA
Class III-X-1
AAA
AAA
Class III-A-2
AAA
AAA
Class R-I
AAA
AAA
Class R-II
AAA
AAA
Class R-III
AAA
AAA
Class B-1
NR
AA+
Class B-2
NR
AA
Class B-3
NR
A
Class B-4
NR
BBB]
 
None of the above ratings has been lowered since the respective dates of such letters.
 
 
Private Certificates

Class
S&P
Fitch
Class B-5
NR
BB
Class B-6
NR
B
Class B-7
NR
NR

None of the above ratings has been lowered since the respective dates of such letters.
 

SCHEDULE B
 
MORTGAGE LOAN SCHEDULE
 
[Provided upon request]
 
 

 



EXHIBIT K
 
[RESERVED]
 



 
EXHIBIT L
 


FORM OF CERTIFICATION TO BE
PROVIDED BY THE TRUSTEE TO DEPOSITOR

Re:          ________________________________ Trust 200_-____(the “Trust”),
Mortgage Pass-Through Certificates, Series 200_-____, issued pursuant
to the Pooling and Servicing Agreement, dated as of ________ 1, 200_,
among ____________________________, as Depositor, Wells Fargo
Bank, National Association, as Trustee and
___________________________________________________________

The Trustee hereby certifies to the Depositor, and its officers, directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

(1) I have reviewed the annual report on Form 10-K for the fiscal year [____] (the “Annual Report”), and all reports on Form 10-D required to be filed in respect of period covered by the Annual Report (collectively with the Annual Report, the “Reports”), of the Trust;

(2) To my knowledge, (a) the 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 the Annual Report, and (b) the Trustee’s assessment of compliance and related attestation report referred to below, 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 such assessment of compliance and attestation report;

(3) To my knowledge, the distribution information required to be provided by the Trustee under the Pooling and Servicing Agreement for inclusion in the Reports is included in the Reports;

(4) I am responsible for reviewing the activities performed by the Trustee under the Pooling and Servicing Agreement, and based on my knowledge and the compliance review conducted in preparing the compliance statement of the Trustee required by the Pooling and Servicing Agreement, and except as disclosed in the Reports, the Trustee has fulfilled its obligations under the Pooling and Servicing Agreement in all material respects; and

(5) The report on assessment of compliance with servicing criteria applicable to the Trustee for asset-backed securities of the Trustee and each Subcontractor utilized by the Trustee and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the Annual Report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been included as an exhibit to the Annual Report. Any material instances of non-compliance are described in such report and have been disclosed in the Annual Report.

In giving the certifications above, the Trustee has reasonably relied on information provided to it by the following unaffiliated parties: [names of servicer(s), master servicer, subservicer, depositor, trustee, custodian(s)]


Date:_______________________________     

___________________________________      
[Signature]
[Title]
 

 
EXHIBIT M
 
SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE
 
Definitions
Primary Servicer - transaction party having borrower contact
Master Servicer - aggregator of pool assets
Trustee - waterfall calculator
Back-up Servicer - named in the transaction (in the event a Back up Servicer becomes the Primary Servicer, follow Primary Servicer obligations)
Custodian - safe keeper of pool assets
Trustee - fiduciary of the transaction
 
Note: The definitions above describe the essential function that the party performs, rather than the party’s title. So, for example, in a particular transaction, the trustee may perform the “paying agent” and “securities administrator” functions, while in another transaction, the securities administrator may perform these functions.
 
Where there are multiple checks for criteria the attesting party will identify in their management assertion that they are attesting only to the portion of the distribution chain they are responsible for in the related transaction agreements.
 
Key: X - obligation
[X] - under consideration for obligation
 
Reg AB Reference
Servicing Criteria
Primary Servicer
Master Servicer
Securities Admin
Custodian
Trustee (nominal)
 
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.
X
X
X
 
 
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.
X
X
X
 
 
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.
X
X
 
 
 
 
Cash Collection and Administration
 
 
 
 
 
1122(d)(2)(i)
Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.
X
X
X
 
 
1122(d)(2)(ii)
Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.
X
X
X
 
 
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.
X
X
X
 
 
1122(d)(2)(iv)
The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of over collateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.
X
X
X
 
 
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.
X
X
X
 
 
1122(d)(2)(vi)
Unissued checks are safeguarded so as to prevent unauthorized access.
X
 
X
 
 
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.
X
X
X
 
 
 
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.
X
X
X
 
 
1122(d)(3)(ii)
Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.
X
X
X
 
 
1122(d)(3)(iii)
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 transaction agreements.
X
X
X
 
 
1122(d)(3)(iv)
Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.
X
X
X
 
 
 
Pool Asset Administration
 
 
 
 
 
1122(d)(4)(i)
Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents.
X
 
 
X
 
1122(d)(4)(ii)
Pool assets and related documents are safeguarded as required by the transaction agreements
X
 
 
X
 
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.
X
 
X
 
 
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.
X
 
 
 
 
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.
X
 
 
 
 
1122(d)(4)(vi)
Changes with respect to the terms or status of an obligor's pool assets (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.
X
X
 
 
 
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.
X
X
 
 
 
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).
X
 
 
 
 
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.
X
 
 
 
 
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 assets, or such other number of days specified in the transaction agreements.
X
 
 
 
 
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.
X
 
 
 
 
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.
X
 
 
 
 
1122(d)(4)(xiii)
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 days specified in the transaction agreements.
X
 
 
 
 
1122(d)(4)(xiv)
Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.
X
X
 
 
 
1122(d)(4)(xv)
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 transaction agreements. (In this transaction there is no external enhancement or other support.)
X
 
X
 
 
 

 
EXHIBIT N
 
FORM 10-D, FORM 8-K AND FORM 10-K
REPORTING RESPONSIBILITY
 
As to each item described below, the entity indicated as the Responsible Party shall be primarily responsible for reporting the information to the party identified as responsible for preparing the Securities Exchange Act Reports pursuant to Section 4.18 of the Pooling and Servicing Agreement.
 
Under Item 1 of Form 10-D: a) items marked “Monthly Statement to Certificateholders” are required to be included in the periodic Distribution Date statement under Section 6.06, provided by the Trustee based on information received from the party providing such information; and b) items marked “Form 10-D report” are required to be in the Form 10-D report but not the Monthly Statements to Certificateholders, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report. All such information and any other Items on Form 8-K and Form 10-D set forth in this Exhibit shall be sent to the Trustee and the Depositor.
 
Form
Item
Description
Servicers
Master Servicer
Trustee
Custodian
Trustee
Depositor
Sponsor
10-D
Must be filed within 15 days of the distribution date for the asset-backed securities.
 
(nominal)
 
 
1
Distribution and Pool Performance Information
 
 
 
 
 
 
 
Item 1121(a) - Distribution and Pool Performance Information
 
 
 
 
 
 
 
(1) Any applicable record dates, accrual dates, determination dates for calculating distributions and actual distribution dates for the distribution period.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(2) Cash flows received and the sources thereof for distributions, fees and expenses.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(3) Calculated amounts and distribution of the flow of funds for the period itemized by type and priority of payment, including:
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(i) Fees or expenses accrued and paid, with an identification of the general purpose of such fees and the party receiving such fees or expenses.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(ii) Payments accrued or paid with respect to enhancement or other support identified in Item 1114 of Regulation AB (such as insurance premiums or other enhancement maintenance fees), with an identification of the general purpose of such payments and the party receiving such payments.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(iii) Principal, interest and other distributions accrued and paid on the asset-backed securities by type and by class or series and any principal or interest shortfalls or carryovers.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(iv) The amount of excess cash flow or excess spread and the disposition of excess cash flow.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(4) Beginning and ending principal balances of the asset-backed securities.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(5) Interest rates applicable to the pool assets and the asset-backed securities, as applicable. Consider providing interest rate information for pool assets in appropriate distributional groups or incremental ranges.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(6) Beginning and ending balances of transaction accounts, such as reserve accounts, and material account activity during the period.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(7) Any amounts drawn on any credit enhancement or other support identified in Item 1114 of Regulation AB, as applicable, and the amount of coverage remaining under any such enhancement, if known and applicable.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(8) Number and amount of pool assets at the beginning and ending of each period, and updated pool composition information, such as weighted average coupon, weighted average remaining term, pool factors and prepayment amounts.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
Updated pool composition information fields to be as specified by Depositor from time to time
 
(9) Delinquency and loss information for the period.
X
X
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
In addition, describe any material changes to the information specified in Item 1100(b)(5) of Regulation AB regarding the pool assets. (methodology)
X
 
 
 
 
 
 
(10) Information on the amount, terms and general purpose of any advances made or reimbursed during the period, including the general use of funds advanced and the general source of funds for reimbursements.
X
X
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(11) Any material modifications, extensions or waivers to pool asset terms, fees, penalties or payments during the distribution period or that have cumulatively become material over time.
X
X
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(12) Material breaches of pool asset representations or warranties or transaction covenants.
X
X
X
 
(if agreed upon by the parties)
 
 
X
 
(13) Information on ratio, coverage or other tests used for determining any early amortization, liquidation or other performance trigger and whether the trigger was met.
 
 
X
 
(Monthly Statements to Certificateholders)
 
 
 
 
(14) Information regarding any new issuance of asset-backed securities backed by the same asset pool,
 
 
 
 
 
X
 
information regarding any pool asset changes (other than in connection with a pool asset converting into cash in accordance with its terms), such as additions or removals in connection with a prefunding or revolving period and pool asset substitutions and repurchases (and purchase rates, if applicable), and cash flows available for future purchases, such as the balances of any prefunding or revolving accounts, if applicable.
X
X
X
 
 
X
 
Disclose any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures, as applicable, used to originate, acquire or select the new pool assets.
 
 
 
 
 
X
X
Item 1121(b) - Pre-Funding or Revolving Period Information
 
Updated pool information as required under Item 1121(b).
 
 
 
 
 
X
 
2
Legal Proceedings
 
 
 
 
 
 
 
Item 1117 - Legal proceedings pending against the following entities, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities:
 
 
 
 
 
 
 
Sponsor (Seller)
 
 
 
 
 
 
X
Depositor
 
 
 
 
 
X
 
Trustee
 
 
 
 
 
 
 
Issuing entity
 
 
 
 
 
X
 
Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers
X
X
 
 
 
 
 
Securities Administrator
 
 
X
 
 
 
 
Originator of 20% or more of pool assets as of the Cut-off Date
 
 
 
 
 
X
 
Custodian
 
 
 
X
 
 
 
3
Sales of Securities and Use of Proceeds
 
 
 
 
 
 
 
Information from Item 2(a) of Part II of Form 10-Q:
 
With respect to any sale of securities by the sponsor, depositor or issuing entity, that are backed by the same asset pool or are otherwise issued by the issuing entity, whether or not registered, provide the sales and use of proceeds information in Item 701 of Regulation S-K. Pricing information can be omitted if securities were not registered.
 
 
 
 
 
X
 
4
Defaults Upon Senior Securities
 
 
 
 
 
 
 
Information from Item 3 of Part II of Form 10-Q:
 
Report the occurrence of any Event of Default (after expiration of any grace period and provision of any required notice)
 
 
X
 
 
 
 
5
Submission of Matters to a Vote of Security Holders
 
 
 
 
 
 
 
Information from Item 4 of Part II of Form 10-Q
 
 
X
 
 
 
 
6
Significant Obligors of Pool Assets
 
 
 
 
 
 
 
Item 1112(b) - Significant Obligor Financial Information*
 
 
 
 
 
X
 
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Item.
 
 
 
 
 
 
 
7
Significant Enhancement Provider Information
 
 
 
 
 
 
 
Item 1114(b)(2) - Credit Enhancement Provider Financial Information*
 
 
 
 
 
 
 
Determining applicable disclosure threshold
 
 
 
 
 
X
 
Obtain required financial information or effecting incorporation by reference
 
 
 
 
 
X
 
Item 1115(b) - Derivative Counterparty Financial Information*
 
 
 
 
 
 
 
Determining current maximum probable exposure
 
 
 
 
 
X
 
Determining current significance percentage
 
 
X
 
 
 
 
Notify derivative counterparty of significance percentage and request required financial information
 
 
X
 
 
 
 
Obtain required financial information or effecting incorporation by reference
 
 
 
 
 
X
 
*This information need only be reported on the Form 10-D for the distribution period in which updated information is required pursuant to the Items.
 
 
 
 
 
 
 
8
Other Information
 
 
 
 
 
 
 
Disclose any information required to be reported on Form 8-K during the period covered by the Form 10-D but not reported
The Responsible Party for the applicable Form 8-K item as indicated below.
9
Exhibits
 
 
 
 
 
 
 
Distribution report
 
 
X
 
 
 
 
Exhibits required by Item 601 of Regulation S-K, such as material agreements
 
 
 
 
 
X
 
8-K
Must be filed within four business days of an event reportable on Form 8-K.
 
 
 
 
1.01
Entry into a Material Definitive Agreement
 
 
 
 
 
 
 
Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party.
 
Examples: servicing agreement, custodial agreement.
 
Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus
X
X
X 
 
 
X 
X
1.02
Termination of a Material Definitive Agreement
X
X
X 
 
 
X
X 
Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is not a party.
 
 
Examples: servicing agreement, custodial agreement.
 
 
 
 
 
 
 
1.03
Bankruptcy or Receivership
 
 
 
 
 
 
 
Disclosure is required regarding the bankruptcy or receivership, if known to the Master Servicer, with respect to any of the following:
 
Sponsor (Seller), Depositor, Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers, Certificate Administrator, Trustee, significant obligor, credit enhancer (10% or more), derivatives counterparty, Custodian
X
X
X 
X
 
X 
X
2.04
Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
 
 
 
 
 
 
 
Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.
 
Disclosure will be made of events other than waterfall triggers which are disclosed in the Monthly Statement to Certificateholders
 
X
X
 
 
 
 
3.03
Material Modification to Rights of Security Holders
 
 
 
 
 
 
 
Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement
 
 
X
 
 
X
 
5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
 
 
 
 
 
 
 
Disclosure is required of any amendment “to the governing documents of the issuing entity”
 
 
 
 
 
X
 
5.06
Change in Shell Company Status
 
 
 
 
 
 
 
[Not applicable to ABS issuers]
 
 
 
 
 
X
 
6.01
ABS Informational and Computational Material
 
 
 
 
 
 
 
[Not included in reports to be filed under Section 3.18]
 
 
 
 
 
X
 
6.02
Change of Servicer or Trustee
 
 
 
 
 
 
 
Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other servicer servicing 10% or more of pool assets at time of report, other material servicers, certificate administrator or trustee.
X
X
X
 
 
X
 
 
Reg AB disclosure about any new servicer is also required.
X
 
 
 
 
 
 
Reg AB disclosure about any new trustee is also required.
 
 
 
 
X
(to the extent of a new trustee)
 
 
Reg AB disclosure about any new securities administrator is also required.
 
 
X
 
 
 
 
6.03
Change in Credit Enhancement or Other External Support [In this transaction there is no external enhancement or other support.]
 
 
 
 
 
 
 
Covers termination of any enhancement in manner other than by its terms, the addition of an enhancement, or a material change in the enhancement provided. Applies to external credit enhancements as well as derivatives.
 
 
X
 
 
X
 
 
Reg AB disclosure about any new enhancement provider is also required.
 
 
 
 
 
X
 
6.04
Failure to Make a Required Distribution
 
 
X
 
 
 
 
6.05
Securities Act Updating Disclosure
 
 
 
 
 
 
 
If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.
 
 
 
 
 
X
 
If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.
 
 
 
 
 
X
 
7.01
Regulation FD Disclosure
X
X
X
X
 
X
 
8.01
Other Events
 
 
 
 
 
 
 
Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to security holders.
 
 
 
 
 
X
 
9.01
Financial Statements and Exhibits
The Responsible Party applicable to reportable event.
10-K
Must be filed within 90 days of the fiscal year end for the registrant.
9B
Other Information
 
 
 
 
Disclose any information required to be reported on Form 8-K during the fourth quarter covered by the Form 10-K but not reported
The Responsible Party for the applicable Form 8-K item as indicated above.
 
15
Exhibits and Financial Statement Schedules
 
 
 
 
 
 
 
Item 1112(b) - Significant Obligor Financial Information
 
 
 
 
 
X
 
Item 1114(b)(2) - Credit Enhancement Provider Financial Information
 
 
 
 
 
 
 
Determining applicable disclosure threshold
 
 
 
 
 
X
 
Obtain required financial information or effecting incorporation by reference
 
 
 
 
 
X
 
Item 1115(b) - Derivative Counterparty Financial Information
 
 
 
 
 
 
 
Determining current maximum probable exposure
 
 
 
 
 
X
 
 
 
Determining current significance percentage
 
 
X
 
 
 
 
Notify derivative counterparty of significance percentage and request required financial information
 
 
X
 
 
 
 
Obtain required financial information or effecting incorporation by reference
 
 
 
 
 
X
 
Item 1117 - Legal proceedings pending against the following entities, or their respective property, that is material to Certificateholders, including proceedings known to be contemplated by governmental authorities:
 
 
 
 
 
 
 
Sponsor (Seller)
 
 
 
 
 
 
X
Depositor
 
 
 
 
 
X
 
Trustee
 
 
 
 
 
 
 
Issuing entity
 
 
 
 
 
X
 
Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers
X
X
 
 
 
 
 
Securities Administrator
 
 
X
 
 
 
 
Originator of 20% or more of pool assets as of the Cut-off Date
 
 
 
 
 
X
 
Custodian
 
 
 
X
 
 
 
Item 1119 - Affiliations and relationships between the following entities, or their respective affiliates, that are material to Certificateholders:
 
 
 
 
 
 
 
Sponsor (Seller)
 
 
 
 
 
 
X
Depositor
 
 
 
 
 
X
 
Trustee
 
 
 
 
 
 
 
Master Servicer, affiliated Servicer, other Servicer servicing 20% or more of pool assets at time of report, other material servicers
X
X
 
 
 
 
 
Securities Administrator
 
 
X
 
 
 
 
Originator
 
 
 
 
 
X
 
Custodian
 
 
 
X
 
 
 
Credit Enhancer/Support Provider
 
 
 
 
 
X
 
Significant Obligor
 
 
 
 
 
X
 
Item 1122 - Assessment of Compliance with Servicing Criteria
X
X
X
X
 
 
 
Item 1123 - Servicer Compliance Statement
X
X
X
 
 
 
 

 



EXHIBIT O
 
Additional Disclosure Notification
Wells Fargo Bank, N.A. as Trustee
9062 Old Annapolis Road
Columbia, Maryland 21045
Fax: (410) 715-2380
 
E-mail: cts.sec.notifications@wellsfargo.com
 
Attn: Corporate Trust Services - BSARM 2007-3-SEC REPORT PROCESSING
 
RE: **Additional Form [ ] Disclosure**Required
 
Ladies and Gentlemen:
 
In accordance with Section 4.18 of the Pooling and Servicing Agreement, dated as of April 1, 2007, among Structured Asset Mortgage Investments II Inc. as depositor (the “Depositor”), EMC Mortgage Corporation as seller and master servicer (in such capacity, the “Master Servicer”), Wells Fargo Bank, N.A. as Trustee (the “Pooling and Servicing Agreement”). The undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ].
 
Description of Additional Form [ ] Disclosure:
 

 
 
List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure:
 
Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ].
 
[NAME OF PARTY]
 
as [role]
 
By: __________________________________
Name:
Title: