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SEC.
EXHIBIT 4.1
LONG BEACH SECURITIES
CORP.,
Depositor
WASHINGTON MUTUAL
BANK,
Seller and
Servicer
DEUTSCHE BANK NATIONAL
TRUST COMPANY,
Trustee
and
DEUTSCHE BANK TRUST
COMPANY DELAWARE,
Delaware
Trustee
POOLING AND SERVICING
AGREEMENT
Dated as of November 1,
2006
______________________________
Long Beach Mortgage Loan
Trust 2006‑10
Asset‑Backed
Certificates, Series 2006‑10
TABLE OF
CONTENTS
|
|
|
Page
|
|
ARTICLE I
|
DEFINITIONS
|
12
|
|
Section 1.01
|
Defined Terms.
|
12
|
|
Section 1.02
|
Accounting.
|
71
|
|
Section 1.03
|
Allocation of Certain Interest
Shortfalls.
|
72
|
|
Section 1.04
|
Rights of the NIMS
Insurer.
|
73
|
|
ARTICLE II
|
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
|
73
|
|
Section 2.01
|
Conveyance of Mortgage
Loans.
|
73
|
|
Section 2.02
|
Acceptance of REMIC 1 by the
Trustee.
|
76
|
|
Section 2.03
|
Cure, Repurchase or Substitution of
Mortgage Loans by the Seller; Remedies for Breaches by Depositor or
Servicer; Remedies for Breaches Relating to Prepayment
Charges.
|
78
|
|
Section 2.04
|
Representations, Warranties and
Covenants of the Servicer.
|
81
|
|
Section 2.05
|
Representations and Warranties of
the Depositor.
|
83
|
|
Section 2.06
|
Issuance of Certificates.
|
85
|
|
Section 2.07
|
Reserved.
|
85
|
|
Section 2.08
|
Conveyance of REMIC Regular
Interests and Acceptance of REMICs by the Trustee; Issuance of
Certificates.
|
85
|
|
Section 2.09
|
Creation of the Trust.
|
88
|
|
Section 2.10
|
Restrictions on Activities of the
Trust.
|
89
|
|
Section 2.11
|
Separateness
Requirements.
|
90
|
|
ARTICLE III
|
ADMINISTRATION AND SERVICING OF THE
MORTGAGE LOANS
|
91
|
|
Section 3.01
|
Servicer to Act as
Servicer.
|
91
|
|
Section 3.02
|
Sub‑Servicing Agreements
Between the Servicer and Sub‑Servicers.
|
93
|
|
Section 3.03
|
Successor
Sub‑Servicers.
|
95
|
|
Section 3.04
|
Liability of the
Servicer.
|
95
|
|
Section 3.05
|
No Contractual Relationship Between
Sub‑Servicers and the NIMS Insurer, the Trustee or
Certificateholders.
|
95
|
|
Section 3.06
|
Assumption or Termination of
Sub‑Servicing Agreements by Trustee.
|
95
|
|
Section 3.07
|
Collection of Certain Mortgage Loan
Payments.
|
96
|
|
Section 3.08
|
Sub‑Servicing
Accounts.
|
97
|
|
Section 3.09
|
Collection of Taxes, Assessments and
Similar Items; Servicing Accounts.
|
97
|
|
Section 3.10
|
Collection Account and Distribution
Account.
|
98
|
|
Section 3.11
|
Withdrawals from the Collection
Account and Distribution Account.
|
100
|
|
Section 3.12
|
Investment of Funds in the Interest
Coverage Account, the Collection Account and the Distribution
Account.
|
102
|
|
Section 3.13
|
Reserved.
|
104
|
|
Section 3.14
|
Maintenance of Hazard Insurance and
Errors and Omissions and Fidelity Coverage.
|
104
|
|
Section 3.15
|
Enforcement of
Due‑On‑Sale Clauses; Assumption Agreements.
|
105
|
|
Section 3.16
|
Realization Upon Defaulted Mortgage
Loans.
|
106
|
|
Section 3.17
|
Trustee to Cooperate; Release of
Mortgage Files.
|
109
|
|
Section 3.18
|
Servicing Compensation.
|
110
|
|
Section 3.19
|
Reports to the Trustee; Collection
Account Statements.
|
111
|
|
Section 3.20
|
Annual Statement as to
Compliance.
|
111
|
|
Section 3.21
|
Assessments of Compliance and
Attestation Reports.
|
111
|
|
Section 3.22
|
Access to Certain
Documentation.
|
113
|
|
Section 3.23
|
Title, Management and Disposition of
REO Property.
|
113
|
|
Section 3.24
|
Obligations of the Servicer in
Respect of Prepayment Interest Shortfalls.
|
116
|
|
Section 3.25
|
Obligations of the Servicer in
Respect of Mortgage Rates and Monthly Payments.
|
116
|
|
Section 3.26
|
Reserve Fund.
|
117
|
|
Section 3.27
|
Advance Facility.
|
118
|
|
Section 3.28
|
PMI Policy; Claims Under the PMI
Policy
|
119
|
|
Section 3.29
|
Swap Agreement.
|
119
|
|
Section 3.30
|
Replacement Swap
Agreement.
|
120
|
|
ARTICLE IV
|
FLOW OF FUNDS
|
120
|
|
Section 4.01
|
Distributions.
|
120
|
|
Section 4.02
|
Preference Claims.
|
138
|
|
Section 4.03
|
Statements.
|
139
|
|
Section 4.04
|
Remittance Reports;
Advances.
|
143
|
|
Section 4.05
|
Distributions on the REMIC Regular
Interests.
|
144
|
|
Section 4.06
|
Allocation of Realized
Losses.
|
147
|
|
Section 4.07
|
Compliance with Withholding
Requirements.
|
151
|
|
Section 4.08
|
Commission Reporting.
|
152
|
|
Section 4.09
|
Supplemental Interest
Trust.
|
154
|
|
Section 4.10
|
Final Maturity Reserve
Trust.
|
155
|
|
Section 4.11
|
Intention of the Parties and
Interpretation.
|
155
|
|
Section 4.12
|
Interest Coverage
Account.
|
156
|
|
ARTICLE V
|
THE CERTIFICATES
|
157
|
|
Section 5.01
|
The Certificates.
|
157
|
|
Section 5.02
|
Registration of Transfer and
Exchange of Certificates.
|
159
|
|
Section 5.03
|
Mutilated, Destroyed, Lost or Stolen
Certificates.
|
164
|
|
Section 5.04
|
Persons Deemed Owners.
|
164
|
|
ARTICLE VI
|
THE SERVICER AND THE
DEPOSITOR
|
165
|
|
Section 6.01
|
Liability of the Servicer and the
Depositor.
|
165
|
|
Section 6.02
|
Merger or Consolidation of the
Depositor or the Servicer.
|
165
|
|
Section 6.03
|
Limitation on Liability of the
Depositor, the Servicer and Others.
|
165
|
|
Section 6.04
|
Limitation on Resignation of
Servicer.
|
166
|
|
Section 6.05
|
Rights of the Depositor, the NIMS
Insurer and the Trustee in Respect of the Servicer.
|
167
|
|
ARTICLE VII
|
DEFAULT
|
168
|
|
Section 7.01
|
Servicer Events of
Default.
|
168
|
|
Section 7.02
|
Trustee to Act; Appointment of
Successor.
|
170
|
|
Section 7.03
|
Notification to
Certificateholders.
|
172
|
|
Section 7.04
|
Waiver of Servicer Events of
Default.
|
172
|
|
ARTICLE VIII
|
THE TRUSTEE
|
173
|
|
Section 8.01
|
Duties of Trustees.
|
173
|
|
Section 8.02
|
Certain Matters Affecting the
Trustees.
|
174
|
|
Section 8.03
|
Trustees Not Liable for Certificates
or Mortgage Loans.
|
175
|
|
Section 8.04
|
Trustees May Own
Certificates.
|
176
|
|
Section 8.05
|
Trustees’ Fees and
Expenses.
|
176
|
|
Section 8.06
|
Eligibility Requirements for
Trustees.
|
177
|
|
Section 8.07
|
Resignation or Removal of
Trustees.
|
178
|
|
Section 8.08
|
Successor Trustees.
|
178
|
|
Section 8.09
|
Merger or Consolidation of
Trustees.
|
179
|
|
Section 8.10
|
Appointment of Co‑Trustee or
Separate Trustee.
|
179
|
|
Section 8.11
|
Appointment of
Custodians.
|
180
|
|
Section 8.12
|
Appointment of Office or
Agency.
|
181
|
|
Section 8.13
|
Representations and Warranties of
the Trustee.
|
181
|
|
Section 8.14
|
Duties of Delaware
Trustee.
|
182
|
|
Section 8.15
|
Amendment to Certificate of
Trust.
|
182
|
|
Section 8.16
|
Trustees Act on Behalf of
Trust.
|
182
|
|
ARTICLE IX
|
TERMINATION
|
183
|
|
Section 9.01
|
Termination Upon Purchase or
Liquidation of All Mortgage Loans.
|
183
|
|
Section 9.02
|
Additional Termination
Requirements.
|
186
|
|
Section 9.03
|
Termination of the Supplemental
Interest Trust and the Final Maturity Reserve Trust.
|
186
|
|
ARTICLE X
|
REMIC PROVISIONS
|
187
|
|
Section 10.01
|
REMIC Administration.
|
187
|
|
Section 10.02
|
Prohibited Transactions and
Activities.
|
191
|
|
Section 10.03
|
Trustee, Servicer and Depositor
Indemnification.
|
191
|
|
ARTICLE XI
|
MISCELLANEOUS PROVISIONS
|
192
|
|
Section 11.01
|
Amendment.
|
192
|
|
Section 11.02
|
Recordation of Agreement;
Counterparts.
|
193
|
|
Section 11.03
|
Limitation on Rights of
Certificateholders.
|
194
|
|
Section 11.04
|
Governing Law;
Jurisdiction.
|
194
|
|
Section 11.05
|
Notices.
|
195
|
|
Section 11.06
|
Severability of
Provisions.
|
195
|
|
Section 11.07
|
Notice to the Rating Agencies, the
Swap Counterparty and the NIMS Insurer.
|
195
|
|
Section 11.08
|
Article and
Section References.
|
196
|
|
Section 11.09
|
Third-Party
Beneficiaries.
|
196
|
|
Section 11.10
|
Grant of Security
Interest.
|
197
|
Exhibits
|
Exhibit A‑1
|
Form of Senior
Certificates
|
|
Exhibit A‑2
|
Form of Subordinate
Certificates
|
|
Exhibit A‑3
|
Form of Class C
Certificates
|
|
Exhibit A‑4
|
Form of Class P
Certificates
|
|
Exhibit A‑5
|
Form of Residual
Certificates
|
|
Exhibit A‑6
|
Form of Reverse of
Certificates
|
|
Exhibit B
|
Form of Swap Agreement
|
|
Exhibit C
|
Form of Mortgage Loan Purchase
Agreement
|
|
Exhibit D
|
Mortgage Loan Schedule
|
|
Exhibit E‑1
|
Request for Release (for
Trustee/Custodian)
|
|
Exhibit E‑2
|
Request for Release (Certificate
– Mortgage Loan Paid in Full)
|
|
Exhibit E-3
|
Form of Mortgage Loan Assignment
Agreement
|
|
Exhibit F‑1
|
Form of Trustee’s Initial
Certification
|
|
Exhibit F‑2
|
Form of Trustee’s Final
Certification
|
|
Exhibit G
|
Form of Residual NIM Holder
Certificate
|
|
Exhibit H
|
Form of Lost Note
Affidavit
|
|
Exhibit I
|
Form of ERISA
Representation
|
|
Exhibit J-1A
|
Form of Class B Certificate
Transferor Certificate
|
|
Exhibit J-1B
|
Form of Class B Certificate
Transferee Certificate
|
|
Exhibit J-2
|
Form of Investment Letter
|
|
Exhibit K
|
Form of Class R Certificate, Class
R‑CX Certificate and Class R-PX Certificate Transfer
Affidavit
|
|
Exhibit L
|
Form of Transferor
Certificate
|
|
Exhibit M
|
[Reserved]
|
|
Exhibit N
|
Criteria to be Addressed in
Assessment of Compliance
|
|
Exhibit O
|
Form 10‑D, Form 8‑K and
Form 10‑K Reporting Responsibility
|
|
Exhibit P
|
Form of Trustee
Certificate
|
Schedules
|
Schedule I
|
Prepayment Charge
Schedule
|
|
Schedule II
|
Swap Notional Amount
Schedule
|
|
Schedule III
|
40 Year Loans Final Maturity
Schedule
|
|
Schedule IV
|
PMI Mortgage Loan Schedule (not
applicable
|
This POOLING AND SERVICING AGREEMENT
is dated as of November 1, 2006 (the “Agreement”),
among LONG BEACH SECURITIES CORP., as depositor (the
“Depositor”), WASHINGTON MUTUAL BANK, as seller (the
“Seller”) and servicer (the “Servicer”),
DEUTSCHE BANK NATIONAL TRUST COMPANY, as trustee (the
“Trustee”) and DEUTSCHE BANK TRUST COMPANY DELAWARE, as
Delaware trustee (the “Delaware Trustee”).
PRELIMINARY
STATEMENT:
The Depositor intends to sell
pass‑through certificates (collectively, the
“Certificates”), to be issued hereunder in multiple
classes, which in the aggregate will evidence the entire beneficial
ownership interest in the Trust. The Certificates will
consist of twenty-one classes of certificates, designated as
(i) the Class I-A Certificates, (ii) the Class II-A1
Certificates, (iii) the Class II-A2 Certificates, (iv) the Class
II-A3 Certificates, (v) the Class II‑A4 Certificates, (vi)
the Class M‑1 Certificates, (vii) the Class M-2 Certificates,
(viii) the Class M-3 Certificates, (ix) the Class M‑4
Certificates, (x) the Class M‑5 Certificates, (xi) the Class
M‑6 Certificates, (xii) the Class M‑7 Certificates,
(xiii) the Class M‑8 Certificates, (xiv) the Class M‑9
Certificates, (xv) the Class M-10 Certificates, (xvi) the Class B
Certificates, (xvii) the Class C Certificates, (xviii) the Class P
Certificates, (xix) the Class R Certificates, (xx) the Class
R‑CX Certificates and (xxi) the Class R‑PX
Certificates.
REMIC 1
As provided herein, the Trustee
shall make an election to treat the segregated pool of assets
consisting of the Mortgage Loans and certain other related assets
subject to this Agreement (exclusive of the Reserve Fund, the
Supplemental Interest Trust, the Final Maturity Reserve Trust, the
Interest Coverage Account and the Servicer Prepayment Charge
Payment Amounts) as a REMIC for federal income tax purposes, and
such segregated pool of assets will be designated as “REMIC
1.” The Class R‑1 Interest shall represent the
sole class of “residual interests” in REMIC 1 for
purposes of the REMIC Provisions (as defined herein) under federal
income tax law. The following table irrevocably sets forth
the designation, the Uncertificated REMIC 1 Pass‑Through
Rate, the initial Uncertificated Principal Balance, and solely for
purposes of satisfying Treasury regulation
Section 1.860G‑1(a)(4)(iii), the “latest possible
maturity date” for each of the REMIC 1 Regular
Interests. None of the REMIC 1 Regular Interests will be
certificated.
|
Designation
|
Initial Uncertificated
Principal Balance
|
Uncertificated REMIC 1
Pass‑Through Rate
|
Rate Change
Date
|
Assumed Final
Maturity Date 1
|
|
IX
3
|
$76,414,071.06
|
Variable
2
|
N/A
|
December
2046
|
|
I-1-A
|
1,184,458.04
|
Variable
2
|
January 2007
|
December
2046
|
|
I-1-B
|
1,184,458.04
|
Variable
2
|
|
December
2046
|
|
I-2-A
|
1,394,058.26
|
Variable
2
|
February
2007
|
December
2046
|
|
I-2-B
|
1,394,058.26
|
Variable
2
|
|
December
2046
|
|
I-3-A
|
1,602,062.67
|
Variable
2
|
March 2007
|
December
2046
|
|
I-3-B
|
1,602,062.67
|
Variable
2
|
|
December
2046
|
|
I-4-A
|
1,807,396.04
|
Variable
2
|
April 2007
|
December
2046
|
|
I-4-B
|
1,807,396.04
|
Variable
2
|
|
December
2046
|
|
I-5-A
|
383,696.98
|
Variable
2
|
May 2007
|
December
2046
|
|
I-5-B
|
383,696.98
|
Variable
2
|
|
December
2046
|
|
I-6-A
|
637,294.15
|
Variable
2
|
June 2007
|
December
2046
|
|
I-6-B
|
637,294.15
|
Variable
2
|
|
December
2046
|
|
I-7-A
|
932,708.98
|
Variable
2
|
July 2007
|
December
2046
|
|
I-7-B
|
932,708.98
|
Variable
2
|
|
December
2046
|
|
I-8-A
|
1,230,070.39
|
Variable
2
|
August 2007
|
December
2046
|
|
I-8-B
|
1,230,070.39
|
Variable
2
|
|
December
2046
|
|
I-9-A
|
1,565,456.74
|
Variable
2
|
September
2007
|
December
2046
|
|
I-9-B
|
1,565,456.74
|
Variable
2
|
|
December
2046
|
|
I-10-A
|
2,070,031.14
|
Variable
2
|
October 2007
|
December
2046
|
|
I-10-B
|
2,070,031.14
|
Variable
2
|
|
December
2046
|
|
I-11-A
|
3,464,526.68
|
Variable
2
|
November
2007
|
December
2046
|
|
I-11-B
|
3,464,526.68
|
Variable
2
|
|
December
2046
|
|
I-12-A
|
3,676,276.80
|
Variable
2
|
December
2007
|
December
2046
|
|
I-12-B
|
3,676,276.80
|
Variable
2
|
|
December
2046
|
|
I-13-A
|
3,740,251.85
|
Variable
2
|
January 2008
|
December
2046
|
|
I-13-B
|
3,740,251.85
|
Variable
2
|
|
December
2046
|
|
I-14-A
|
3,618,027.87
|
Variable
2
|
February
2008
|
December
2046
|
|
I-14-B
|
3,618,027.87
|
Variable
2
|
|
December
2046
|
|
I-15-A
|
3,502,909.68
|
Variable
2
|
March 2008
|
December
2046
|
|
I-15-B
|
3,502,909.68
|
Variable
2
|
|
December
2046
|
|
I-16-A
|
3,395,519.72
|
Variable
2
|
April 2008
|
December
2046
|
|
I-16-B
|
3,395,519.72
|
Variable
2
|
|
December
2046
|
|
I-17-A
|
3,123,650.66
|
Variable
2
|
May 2008
|
December
2046
|
|
I-17-B
|
3,123,650.66
|
Variable
2
|
|
December
2046
|
|
I-18-A
|
2,967,103.12
|
Variable
2
|
June 2008
|
December
2046
|
|
I-18-B
|
2,967,103.12
|
Variable
2
|
|
December
2046
|
|
I-19-A
|
2,795,354.60
|
Variable
2
|
July 2008
|
December
2046
|
|
I-19-B
|
2,795,354.60
|
Variable
2
|
|
December
2046
|
|
I-20-A
|
2,646,246.86
|
Variable
2
|
August 2008
|
December
2046
|
|
I-20-B
|
2,646,246.86
|
Variable
2
|
|
December
2046
|
|
I-21-A
|
1,618,899.88
|
Variable
2
|
September
2008
|
December
2046
|
|
I-21-B
|
1,618,899.88
|
Variable
2
|
|
December
2046
|
|
I-22-A
|
29,301,882.26
|
Variable
2
|
October 2008
|
December
2046
|
|
I-22-B
|
29,301,882.26
|
Variable
2
|
|
December
2046
|
|
I-23-A
|
4,834,504.15
|
Variable
2
|
November
2008
|
December
2046
|
|
I-23-B
|
4,834,504.15
|
Variable
2
|
|
December
2046
|
|
I-24-A
|
5,173,758.71
|
Variable
2
|
December
2008
|
December
2046
|
|
I-24-B
|
5,173,758.71
|
Variable
2
|
|
December
2046
|
|
I-25-A
|
4,255,081.30
|
Variable
2
|
January 2009
|
December
2046
|
|
I-25-B
|
4,255,081.30
|
Variable
2
|
|
December
2046
|
|
I-26-A
|
3,276,601.33
|
Variable
2
|
February
2009
|
December
2046
|
|
I-26-B
|
3,276,601.33
|
Variable
2
|
|
December
2046
|
|
I-27-A
|
2,696,345.95
|
Variable
2
|
March 2009
|
December
2046
|
|
I-27-B
|
2,696,345.95
|
Variable
2
|
|
December
2046
|
|
I-28-A
|
2,314,641.12
|
Variable
2
|
April 2009
|
December
2046
|
|
I-28-B
|
2,314,641.12
|
Variable
2
|
|
December
2046
|
|
I-29-A
|
2,015,277.41
|
Variable
2
|
May 2009
|
December
2046
|
|
I-29-B
|
2,015,277.41
|
Variable
2
|
|
December
2046
|
|
I-30-A
|
1,709,488.77
|
Variable
2
|
June 2009
|
December
2046
|
|
I-30-B
|
1,709,488.77
|
Variable
2
|
|
December
2046
|
|
I-31-A
|
1,602,547.66
|
Variable
2
|
July 2009
|
December
2046
|
|
I-31-B
|
1,602,547.66
|
Variable
2
|
|
December
2046
|
|
I-32-A
|
1,537,808.80
|
Variable
2
|
August 2009
|
December
2046
|
|
I-32-B
|
1,537,808.80
|
Variable
2
|
|
December
2046
|
|
I-33-A
|
1,471,660.54
|
Variable
2
|
September
2009
|
December
2046
|
|
I-33-B
|
1,471,660.54
|
Variable
2
|
|
December
2046
|
|
I-34-A
|
1,990,020.80
|
Variable
2
|
October
2009
|
December
2046
|
|
I-34-B
|
1,990,020.80
|
Variable
2
|
|
December
2046
|
|
I-35-A
|
279,556.88
|
Variable
2
|
November
2009
|
December
2046
|
|
I-35-B
|
279,556.88
|
Variable
2
|
|
December
2046
|
|
I-36-A
|
2,775,271.45
|
Variable
2
|
December
2009
|
December
2046
|
|
I-36-B
|
2,775,271.45
|
Variable
2
|
|
December
2046
|
|
I-37-A
|
1,462,371.56
|
Variable
2
|
January
2010
|
December
2046
|
|
I-37-B
|
1,462,371.56
|
Variable
2
|
|
December
2046
|
|
I-38-A
|
1,398,727.50
|
Variable
2
|
February
2010
|
December
2046
|
|
I-38-B
|
1,398,727.50
|
Variable
2
|
|
December
2046
|
|
I-39-A
|
1,316,615.34
|
Variable
2
|
March 2010
|
December
2046
|
|
I-39-B
|
1,316,615.34
|
Variable
2
|
|
December
2046
|
|
I-40-A
|
1,250,335.68
|
Variable
2
|
April 2010
|
December
2046
|
|
I-40-B
|
1,250,335.68
|
Variable
2
|
|
December
2046
|
|
I-41-A
|
1,190,632.29
|
Variable
2
|
May 2010
|
December
2046
|
|
I-41-B
|
1,190,632.29
|
Variable
2
|
|
December
2046
|
|
I-42-A
|
1,103,817.96
|
Variable
2
|
June 2010
|
December
2046
|
|
I-42-B
|
1,103,817.96
|
Variable
2
|
|
December
2046
|
|
I-43-A
|
1,044,395.71
|
Variable
2
|
July 2010
|
December
2046
|
|
I-43-B
|
1,044,395.71
|
Variable
2
|
|
December
2046
|
|
I-44-A
|
929,160.54
|
Variable
2
|
August 2010
|
December
2046
|
|
I-44-B
|
929,160.54
|
Variable
2
|
|
December
2046
|
|
I-45-A
|
894,250.67
|
Variable
2
|
September
2010
|
December
2046
|
|
I-45-B
|
894,250.67
|
Variable
2
|
|
December
2046
|
|
I-46-A
|
860,624.69
|
Variable
2
|
October 2010
|
December
2046
|
|
I-46-B
|
860,624.69
|
Variable
2
|
|
December
2046
|
|
I-47-A
|
929,130.63
|
Variable
2
|
November
2010
|
December
2046
|
|
I-47-B
|
929,130.63
|
Variable
2
|
|
December
2046
|
|
I-48-A
|
959,391.73
|
Variable
2
|
December
2010
|
December
2046
|
|
I-48-B
|
959,391.73
|
Variable
2
|
|
December
2046
|
|
I-49-A
|
905,256.00
|
Variable
2
|
January 2011
|
December
2046
|
|
I-49-B
|
905,256.00
|
Variable
2
|
|
December
2046
|
|
I-50-A
|
863,544.27
|
Variable
2
|
February
2011
|
December
2046
|
|
I-50-B
|
863,544.27
|
Variable
2
|
|
December
2046
|
|
I-51-A
|
923,470.03
|
Variable
2
|
March 2011
|
December
2046
|
|
I-51-B
|
923,470.03
|
Variable
2
|
|
December
2046
|
|
I-52-A
|
844,356.87
|
Variable
2
|
April 2011
|
December
2046
|
|
I-52-B
|
844,356.87
|
Variable
2
|
|
December
2046
|
|
I-53-A
|
789,040.70
|
Variable
2
|
May 2011
|
December
2046
|
|
I-53-B
|
789,040.70
|
Variable
2
|
|
December
2046
|
|
I-54-A
|
790,303.57
|
Variable
2
|
June 2011
|
December
2046
|
|
I-54-B
|
790,303.57
|
Variable
2
|
|
December
2046
|
|
I-55-A
|
708,832.91
|
Variable
2
|
July 2011
|
December
2046
|
|
I-55-B
|
708,832.91
|
Variable
2
|
|
December
2046
|
|
I-56-A
|
642,949.40
|
Variable
2
|
August 2011
|
December
2046
|
|
I-56-B
|
642,949.40
|
Variable
2
|
|
December
2046
|
|
I-57-A
|
591,224.58
|
Variable
2
|
September
2011
|
December
2046
|
|
I-57-B
|
591,224.58
|
Variable
2
|
|
December
2046
|
|
I-58-A
|
528,942.03
|
Variable
2
|
October 2011
|
December
2046
|
|
I-58-B
|
528,942.03
|
Variable
2
|
|
December
2046
|
|
I-59-A
|
7,780,352.93
|
Variable
2
|
November
2011
|
December
2046
|
|
I-59-B
|
7,780,352.93
|
Variable
2
|
|
December
2046
|
|
IIX
3
|
138,177,628.52
|
Variable
2
|
N/A
|
December
2046
|
|
II-1-A
|
2,141,825.46
|
Variable
2
|
January 2007
|
December
2046
|
|
II-1-B
|
2,141,825.46
|
Variable
2
|
|
December
2046
|
|
II-2-A
|
2,520,840.24
|
Variable
2
|
February
2007
|
December
2046
|
|
II-2-B
|
2,520,840.24
|
Variable
2
|
|
December
2046
|
|
II-3-A
|
2,896,969.33
|
Variable
2
|
March 2007
|
December
2046
|
|
II-3-B
|
2,896,969.33
|
Variable
2
|
|
December
2046
|
|
II-4-A
|
3,268,268.46
|
Variable
2
|
April 2007
|
December
2046
|
|
II-4-B
|
3,268,268.46
|
Variable
2
|
|
December
2046
|
|
II-5-A
|
693,829.52
|
Variable
2
|
May 2007
|
December
2046
|
|
II-5-B
|
693,829.52
|
Variable
2
|
|
December
2046
|
|
II-6-A
|
1,152,402.85
|
Variable
2
|
June 2007
|
December
2046
|
|
II-6-B
|
1,152,402.85
|
Variable
2
|
|
December
2046
|
|
II-7-A
|
1,686,594.02
|
Variable
2
|
July 2007
|
December
2046
|
|
II-7-B
|
1,686,594.02
|
Variable
2
|
|
December
2046
|
|
II-8-A
|
2,224,305.11
|
Variable
2
|
August 2007
|
December
2046
|
|
II-8-B
|
2,224,305.11
|
Variable
2
|
|
December
2046
|
|
II-9-A
|
2,830,775.76
|
Variable
2
|
September
2007
|
December
2046
|
|
II-9-B
|
2,830,775.76
|
Variable
2
|
|
December
2046
|
|
II-10-A
|
3,743,184.86
|
Variable
2
|
October 2007
|
December
2046
|
|
II-10-B
|
3,743,184.86
|
Variable
2
|
|
December
2046
|
|
II-11-A
|
6,264,815.82
|
Variable
2
|
November
2007
|
December
2046
|
|
II-11-B
|
6,264,815.82
|
Variable
2
|
|
December
2046
|
|
II-12-A
|
6,647,718.20
|
Variable
2
|
December
2007
|
December
2046
|
|
II-12-B
|
6,647,718.20
|
Variable
2
|
|
December
2046
|
|
II-13-A
|
6,763,402.65
|
Variable
2
|
January 2008
|
December
2046
|
|
II-13-B
|
6,763,402.65
|
Variable
2
|
|
December
2046
|
|
II-14-A
|
6,542,388.13
|
Variable
2
|
February
2008
|
December
2046
|
|
II-14-B
|
6,542,388.13
|
Variable
2
|
|
December
2046
|
|
II-15-A
|
6,334,222.82
|
Variable
2
|
March 2008
|
December
2046
|
|
II-15-B
|
6,334,222.82
|
Variable
2
|
|
December
2046
|
|
II-16-A
|
6,140,032.28
|
Variable
2
|
April 2008
|
December
2046
|
|
II-16-B
|
6,140,032.28
|
Variable
2
|
|
December
2046
|
|
II-17-A
|
5,648,418.34
|
Variable
2
|
May 2008
|
December
2046
|
|
II-17-B
|
5,648,418.34
|
Variable
2
|
|
December
2046
|
|
II-18-A
|
5,365,337.38
|
Variable
2
|
June 2008
|
December
2046
|
|
II-18-B
|
5,365,337.38
|
Variable
2
|
|
December
2046
|
|
II-19-A
|
5,054,768.90
|
Variable
2
|
July 2008
|
December
2046
|
|
II-19-B
|
5,054,768.90
|
Variable
2
|
|
December
2046
|
|
II-20-A
|
4,785,141.14
|
Variable
2
|
August 2008
|
December
2046
|
|
II-20-B
|
4,785,141.14
|
Variable
2
|
|
December
2046
|
|
II-21-A
|
2,927,415.62
|
Variable
2
|
September
2008
|
December
2046
|
|
II-21-B
|
2,927,415.62
|
Variable
2
|
|
December
2046
|
|
II-22-A
|
52,985,851.24
|
Variable
2
|
October 2008
|
December
2046
|
|
II-22-B
|
52,985,851.24
|
Variable
2
|
|
December
2046
|
|
II-23-A
|
8,742,111.35
|
Variable
2
|
November
2008
|
December
2046
|
|
II-23-B
|
8,742,111.35
|
Variable
2
|
|
December
2046
|
|
II-24-A
|
9,355,576.79
|
Variable
2
|
December
2008
|
December
2046
|
|
II-24-B
|
9,355,576.79
|
Variable
2
|
|
December
2046
|
|
II-25-A
|
7,694,355.70
|
Variable
2
|
January 2009
|
December
2046
|
|
II-25-B
|
7,694,355.70
|
Variable
2
|
|
December
2046
|
|
II-26-A
|
5,924,995.17
|
Variable
2
|
February
2009
|
December
2046
|
|
II-26-B
|
5,924,995.17
|
Variable
2
|
|
December
2046
|
|
II-27-A
|
4,875,734.05
|
Variable
2
|
March 2009
|
December
2046
|
|
II-27-B
|
4,875,734.05
|
Variable
2
|
|
December
2046
|
|
II-28-A
|
4,185,506.88
|
Variable
2
|
April 2009
|
December
2046
|
|
II-28-B
|
4,185,506.88
|
Variable
2
|
|
December
2046
|
|
II-29-A
|
3,644,175.09
|
Variable
2
|
May 2009
|
December
2046
|
|
II-29-B
|
3,644,175.09
|
Variable
2
|
|
December
2046
|
|
II-30-A
|
3,091,225.23
|
Variable
2
|
June 2009
|
December
2046
|
|
II-30-B
|
3,091,225.23
|
Variable
2
|
|
December
2046
|
|
II-31-A
|
2,897,846.34
|
Variable
2
|
July 2009
|
December
2046
|
|
II-31-B
|
2,897,846.34
|
Variable
2
|
|
December
2046
|
|
II-32-A
|
2,780,780.70
|
Variable
2
|
August 2009
|
December
2046
|
|
II-32-B
|
2,780,780.70
|
Variable
2
|
|
December
2046
|
|
II-33-A
|
2,661,166.46
|
Variable
2
|
September
2009
|
December
2046
|
|
II-33-B
|
2,661,166.46
|
Variable
2
|
|
December
2046
|
|
II-34-A
|
3,598,504.20
|
Variable
2
|
October 2009
|
December
2046
|
|
II-34-B
|
3,598,504.20
|
Variable
2
|
|
December
2046
|
|
II-35-A
|
505,515.62
|
Variable
2
|
November
2009
|
December
2046
|
|
II-35-B
|
505,515.62
|
Variable
2
|
|
December
2046
|
|
II-36-A
|
5,018,453.05
|
Variable
2
|
December
2009
|
December
2046
|
|
II-36-B
|
5,018,453.05
|
Variable
2
|
|
December
2046
|
|
II-37-A
|
2,644,369.44
|
Variable
2
|
January 2010
|
December
2046
|
|
II-37-B
|
2,644,369.44
|
Variable
2
|
|
December
2046
|
|
II-38-A
|
2,529,283.50
|
Variable
2
|
February
2010
|
December
2046
|
|
II-38-B
|
2,529,283.50
|
Variable
2
|
|
December
2046
|
|
II-39-A
|
2,380,802.16
|
Variable
2
|
March 2010
|
December
2046
|
|
II-39-B
|
2,380,802.16
|
Variable
2
|
|
December
2046
|
|
II-40-A
|
2,260,950.32
|
Variable
2
|
April 2010
|
December
2046
|
|
II-40-B
|
2,260,950.32
|
Variable
2
|
|
December
2046
|
|
II-41-A
|
2,152,990.21
|
Variable
2
|
May 2010
|
December
2046
|
|
II-41-B
|
2,152,990.21
|
Variable
2
|
|
December
2046
|
|
II-42-A
|
1,996,006.04
|
Variable
2
|
June 2010
|
December
2046
|
|
II-42-B
|
1,996,006.04
|
Variable
2
|
|
December
2046
|
|
II-43-A
|
1,888,554.29
|
Variable
2
|
July 2010
|
December
2046
|
|
II-43-B
|
1,888,554.29
|
Variable
2
|
|
December
2046
|
|
II-44-A
|
1,680,177.46
|
Variable
2
|
August 2010
|
December
2046
|
|
II-44-B
|
1,680,177.46
|
Variable
2
|
|
December
2046
|
|
II-45-A
|
1,617,050.83
|
Variable
2
|
September
2010
|
December
2046
|
|
II-45-B
|
1,617,050.83
|
Variable
2
|
|
December
2046
|
|
II-46-A
|
1,556,245.81
|
Variable
2
|
October 2010
|
December
2046
|
|
II-46-B
|
1,556,245.81
|
Variable
2
|
|
December
2046
|
|
II-47-A
|
1,680,123.37
|
Variable
2
|
November
2010
|
December
2046
|
|
II-47-B
|
1,680,123.37
|
Variable
2
|
|
December
2046
|
|
II-48-A
|
1,734,843.77
|
Variable
2
|
December
2010
|
December
2046
|
|
II-48-B
|
1,734,843.77
|
Variable
2
|
|
December
2046
|
|
II-49-A
|
1,636,951.50
|
Variable
2
|
January 2011
|
December
2046
|
|
II-49-B
|
1,636,951.50
|
Variable
2
|
|
December
2046
|
|
II-50-A
|
1,561,525.23
|
Variable
2
|
February
2011
|
December
2046
|
|
II-50-B
|
1,561,525.23
|
Variable
2
|
|
December
2046
|
|
II-51-A
|
1,669,887.47
|
Variable
2
|
March 2011
|
December
2046
|
|
II-51-B
|
1,669,887.47
|
Variable
2
|
|
December
2046
|
|
II-52-A
|
1,526,829.13
|
Variable
2
|
April 2011
|
December
2046
|
|
II-52-B
|
1,526,829.13
|
Variable
2
|
|
December
2046
|
|
II-53-A
|
1,426,802.30
|
Variable
2
|
May 2011
|
December
2046
|
|
II-53-B
|
1,426,802.30
|
Variable
2
|
|
December
2046
|
|
II-54-A
|
1,429,085.93
|
Variable
2
|
June 2011
|
December
2046
|
|
II-54-B
|
1,429,085.93
|
Variable
2
|
|
December
2046
|
|
II-55-A
|
1,281,764.59
|
Variable
2
|
July 2011
|
December
2046
|
|
II-55-B
|
1,281,764.59
|
Variable
2
|
|
December
2046
|
|
II-56-A
|
1,162,629.10
|
Variable
2
|
August 2011
|
December
2046
|
|
II-56-B
|
1,162,629.10
|
Variable
2
|
|
December
2046
|
|
II-57-A
|
1,069,096.42
|
Variable
2
|
September
2011
|
December
2046
|
|
II-57-B
|
1,069,096.42
|
Variable
2
|
|
December
2046
|
|
II-58-A
|
956,472.47
|
Variable
2
|
October 2011
|
December
2046
|
|
II-58-B
|
956,472.47
|
Variable
2
|
|
December
2046
|
|
II-59-A
|
14,069,015.07
|
Variable
2
|
November
2011
|
December
2046
|
|
II-59-B
|
14,069,015.07
|
Variable
2
|
|
December
2046
|
_________________________
1
Solely for purposes of Section
1.860G‑1(a)(4)(iii) of the Treasury regulations, the
Distribution Date in the month following the maturity date for the
Mortgage Loan with the latest maturity date has been designated as
the “latest possible maturity date” for each REMIC 1
Regular Interest.
2 Calculated
in accordance with the definition of “Uncertificated REMIC 1
Pass‑Through Rate” herein.
3 REMIC 1
Regular Interest IX will be entitled to all prepayment penalties or
charges with respect to the Group I Mortgage Loans; REMIC 1 Regular
Interest IIX will be entitled to all prepayment penalties or
charges with respect to the Group II Mortgage Loans.
REMIC
2
As provided herein, the Trustee
shall make an election to treat the segregated pool of assets
consisting of the REMIC 1 Regular Interests and certain other
related assets subject to this Agreement (exclusive of the Reserve
Fund, the Supplemental Interest Trust, the Final Maturity Reserve
Trust, the Interest Coverage Account and the Servicer Prepayment
Charge Payment Amounts) as a REMIC for federal income tax purposes,
and such segregated pool of assets will be designated as
“REMIC 2.” The Class R‑2 Interest shall
represent the sole class of “residual interests” in
REMIC 2 for purposes of the REMIC Provisions (as defined herein)
under federal income tax law. The following table irrevocably
sets forth the designation, the Uncertificated REMIC 2 Pass-Through
Rate, the initial Uncertificated Principal Balance, and solely for
purposes of satisfying Treasury regulation Section
1.860G-1(a)(4)(iii), the “latest possible maturity
date” for each of the REMIC 2 Regular Interests. None
of the REMIC 2 Regular Interests will be certificated.
|
|
Initial Uncertificated
Principal Balance
|
Uncertificated
REMIC 2
Pass-Through
Rate
|
Assumed Final
Maturity Date 1
|
|
AA
|
$494,017,938.05
|
Variable
2
|
December 2046
|
|
A-IA
|
1,441,900.00
|
Variable
2
|
December 2046
|
|
A-IIA1
|
1,064,015.00
|
Variable
2
|
December 2046
|
|
A-IIA2
|
476,050.00
|
Variable
2
|
December 2046
|
|
A-IIA3
|
788,800.00
|
Variable
2
|
December 2046
|
|
A-IIA4
|
274,640.00
|
Variable
2
|
December 2046
|
|
