POOLING AND SERVICING AGREEMENT

Pooling and Servicing Agreement

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MASTR ASSET BACKED SECURITIES TRUST 2006-NC2 | MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. | HOMEQ SERVICING CORPORATION | WELLS FARGO BANK, N.A.

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Title: POOLING AND SERVICING AGREEMENT
Governing Law: New York Date: 10/17/2006

MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC.

Depositor

HOMEQ SERVICING CORPORATION

Servicer

WELLS FARGO BANK, N.A.

Master Servicer and Trust Administrator

and

U.S. BANK NATIONAL ASSOCIATION

Trustee

POOLING AND SERVICING AGREEMENT

Dated as of September 1, 2006

MASTR Asset Backed Securities Trust 2006-NC2

Mortgage Pass-Through Certificates

Series 2006-NC2

TABLE OF CONTENTS

ARTICLE I DEFINITIONS
SECTION 1.01.	Defined Terms.
SECTION 1.02.	Allocation of Certain Interest Shortfalls.
SECTION 1.03.	Rights of the NIMS Insurer.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
SECTION 2.01.	Conveyance of the Mortgage Loans.
SECTION 2.02.	Acceptance of REMIC I by Trustee.
SECTION 2.03.	Repurchase or Substitution of Mortgage Loans by the Originator or the Seller.
SECTION 2.04.	Reserved.
SECTION 2.05.	Representations, Warranties and Covenants of the Servicer and the Master Servicer.
SECTION 2.06.	Conveyance of REMIC Regular Interests and Acceptance of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V and REMIC VI by the Trustee; Issuance of Certificates.
SECTION 2.07.	Issuance of Class R Certificates and Class R-X Certificates.
ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS
SECTION 3.01.	Servicer to Act as Servicer.
SECTION 3.02.	Sub-Servicing Agreements Between Servicer and Sub-Servicers.
SECTION 3.03.	Successor Sub-Servicers.
SECTION 3.04.	Liability of the Servicer.
SECTION 3.05.	No Contractual Relationship Between Sub-Servicers and the Trustee, the Trust Administrator, the NIMS Insurer or Certificateholders.
SECTION 3.06.	Assumption or Termination of Sub-Servicing Agreements by Master Servicer.
SECTION 3.07.	Collection of Certain Mortgage Loan Payments.
SECTION 3.08.	Sub-Servicing Accounts.
SECTION 3.09.	Collection of Taxes, Assessments and Similar Items; Servicing Accounts.
SECTION 3.10.	Collection Account.
SECTION 3.11.	Withdrawals from the Collection Account.
SECTION 3.12.	Investment of Funds in the Collection Account.
SECTION 3.13.	[Reserved].
SECTION 3.14.	Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage.
SECTION 3.15.	Enforcement of Due-On-Sale Clauses; Assumption Agreements.
SECTION 3.16.	Realization Upon Defaulted Mortgage Loans.
SECTION 3.17.	Trustee to Cooperate; Release of Mortgage Files.
SECTION 3.18.	Servicing Compensation.
SECTION 3.19.	Reports; Collection Account Statements.
SECTION 3.20.	Statement as to Compliance.
SECTION 3.21.	Assessments of Compliance and Attestation Reports.
SECTION 3.22.	Access to Certain Documentation.
SECTION 3.23.	Title, Management and Disposition of REO Property.
SECTION 3.24.	Obligations of the Servicer in Respect of Prepayment Interest Shortfalls.
SECTION 3.25.	Obligations of the Servicer in Respect of Monthly Payments.
SECTION 3.26.	Advance Facility
SECTION 3.27.	Late Remittance.
ARTICLE IIIA ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS
SECTION 3A.01.	Master Servicer to Act as Master Servicer
SECTION 3A.02.	[Reserved].
SECTION 3A.03.	Monitoring of Servicer.
SECTION 3A.04.	Fidelity Bond
SECTION 3A.05.	Power to Act; Procedures.
SECTION 3A.06.	Due on Sale Clauses; Assumption Agreements.
SECTION 3A.07.	[Reserved].
SECTION 3A.08.	Documents, Records and Funds in Possession of Master Servicer to be Held for Trustee.
SECTION 3A.09.	Compensation for the Master Servicer.
SECTION 3A.10.	Obligations of the Master Servicer in Respect of Prepayment Interest Shortfalls.
SECTION 3A.11.	Distribution Account.
SECTION 3A.12.	Permitted Withdrawals and Transfers from the Distribution Account.
SECTION 3A.13.	Late Remittance.
ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS
SECTION 4.01.	Distributions.
SECTION 4.02.	Statements to Certificateholders.
SECTION 4.03.	Remittance Reports; Advances.
SECTION 4.04.	Allocation of Realized Losses.
SECTION 4.05.	Compliance with Withholding Requirements.
SECTION 4.06.	Exchange Commission Filings; Additional Information.
SECTION 4.07.	Net WAC Rate Carryover Reserve Account.
SECTION 4.08.	Swap Account.
SECTION 4.09.	Tax Treatment of Swap Payments and Swap Termination Payments.
ARTICLE V THE CERTIFICATES
SECTION 5.01.	The 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.	Certain Available Information.
ARTICLE VI THE DEPOSITOR AND THE MASTER SERVICER
SECTION 6.01.	Liability of the Depositor, the Servicer and the Master Servicer.
SECTION 6.02.	Merger or Consolidation of the Depositor or the Master Servicer.
SECTION 6.03.	Limitation on Liability of the Depositor, the Servicer, the Master Servicer and Others.
SECTION 6.04.	Limitation on Resignation of the Servicer; Assignment of Master Servicing.
SECTION 6.05.	Successor Master Servicer.
SECTION 6.06.	Rights of the Depositor in Respect of the Servicer.
SECTION 6.07.	Duties of the Credit Risk Manager.
SECTION 6.08.	Limitation Upon Liability of the Credit Risk Manager.
SECTION 6.09.	Removal of the Credit Risk Manager.
ARTICLE VII DEFAULT
SECTION 7.01.	Servicer Events of Default and Master Servicer Events of Termination.
SECTION 7.02.	Master Servicer or Trustee to Act; Appointment of Successor Servicer.
SECTION 7.03.	Trustee to Act; Appointment of Successor Master Servicer.
SECTION 7.04.	Notification to Certificateholders.
SECTION 7.05.	Waiver of Servicer Events of Default and Master Servicer Events of Termination.
SECTION 7.06.	Survivability of Servicer and Master Servicer Liabilities.
ARTICLE VIII CONCERNING THE TRUSTEE AND THE TRUST ADMINISTRATOR
SECTION 8.01.	Duties of Trustee and Trust Administrator.
SECTION 8.02.	Certain Matters Affecting the Trustee and the Trust Administrator
SECTION 8.03.	Neither Trustee nor Trust Administrator Liable for Certificates or Mortgage Loans.
SECTION 8.04.	Trustee and Trust Administrator May Own Certificates.
SECTION 8.05.	Trust Administrator’s and Trustee’s Fees and Expenses.
SECTION 8.06.	Eligibility Requirements for Trustee and Trust Administrator.
SECTION 8.07.	Resignation and Removal of the Trustee or Trust Administrator.
SECTION 8.08.	Successor Trustee or Trust Administrator.
SECTION 8.09.	Merger or Consolidation of Trustee or Trust Administrator.
SECTION 8.10.	Appointment of Co-Trustee or Separate Trustee.
SECTION 8.11.	Appointment of Office or Agency; Appointment of Custodian.
SECTION 8.12.	Representations and Warranties.
ARTICLE IX TERMINATION
SECTION 9.01.	Termination Upon Repurchase or Liquidation of All Mortgage Loans.
SECTION 9.02.	Additional Termination Requirements.
ARTICLE X REMIC PROVISIONS
SECTION 10.01.	REMIC Administration.
SECTION 10.02.	Prohibited Transactions and Activities.
SECTION 10.03.	Servicer, Master Servicer and Trustee Indemnification.
ARTICLE XI MISCELLANEOUS PROVISIONS
SECTION 11.01.	Amendment.
SECTION 11.02.	Recordation of Agreement; Counterparts.
SECTION 11.03.	Limitation on Rights of Certificateholders.
SECTION 11.04.	Governing Law.
SECTION 11.05.	Notices.

Exhibits

Exhibit A-A-1	Form of Class A-1 Certificate
Exhibit A-A-2	Form of Class A-2 Certificate
Exhibit A-A-3	Form of Class A-3 Certificate
Exhibit A-A-4	Form of Class A-4 Certificate
Exhibit A-A-5	Form of Class A-5 Certificate
Exhibit A-M-1	Form of Class M-1 Certificate
Exhibit A-M-2	Form of Class M-2 Certificate
Exhibit A-M-3	Form of Class M-3 Certificate
Exhibit A-M-4	Form of Class M-4 Certificate
Exhibit A-M-5	Form of Class M-5 Certificate
Exhibit A-M-6	Form of Class M-6 Certificate
Exhibit A-M-7	Form of Class M-7 Certificate
Exhibit A-M-8	Form of Class M-8 Certificate
Exhibit A-M-9	Form of Class M-9 Certificate
Exhibit A-M-10	Form of Class M-10 Certificate
Exhibit A-M-11	Form of Class M-11 Certificate
Exhibit A-15	[Reserved]
Exhibit A-CE	Form of Class CE Certificate
Exhibit A-P	Form of Class P Certificate
Exhibit A-R	Form of Class R Certificate
Exhibit A-RX	Form of Class R-X Certificate
Exhibit B	[Reserved]
Exhibit C-1	Form of Initial Certification
Exhibit C-2	Form of Final Certification
Exhibit C-3	Form of Receipt of Mortgage Notes
Exhibit D	Form of Assignment Agreement
Exhibit E	Request for Release
Exhibit F-1	Form of Transferor Representation Letter and Form of Transferee Representation
Letter in Connection with Transfer of the Private Certificates Pursuant to Rule 144A Under the 1933 Act
Exhibit F-2	Form of Transfer Affidavit and Agreement and Form of Transferor Affidavit in Connection with Transfer of Residual Certificates
Exhibit G	Form of Certification with respect to ERISA and the Code
Exhibit H	Form of Report Pursuant to Section 4.06
Exhibit I	Form of Lost Note Affidavit
Exhibit J-1	Form of Certification to Be Provided by the Master Servicer with Form 10-K
Exhibit J-2	Form of Certification to Be Provided by the Servicer to the Master Servicer
Exhibit K	Form of Cap Contract
Exhibit L	Annual Statement of Compliance pursuant to Section 3.20
Exhibit M	Form of Interest Rate Swap Agreement
Exhibit N	Form of Swap Administration Agreement
Exhibit O	Servicing Criteria to Be Addressed in Assessment of Compliance
Exhibit P	Form 10-D, Form 8-K and Form 10-K Reporting Responsibility
Exhibit Q	Additional Disclosure Notification
Exhibit R-1	Form of Delinquency Report
Exhibit R-2	Form of Monthly Remittance Report
Exhibit R-3	Form of Realized Loss Report

Schedule 1	Mortgage Loan Schedule
Schedule 2	Prepayment Charge Schedule

This Pooling and Servicing Agreement, is dated and effective as of September 1, 2006 among MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. as Depositor, HOMEQ SERVICING CORPORATION as Servicer, WELLS FARGO BANK, N.A. as Master Servicer and Trust Administrator and U.S. BANK NATIONAL ASSOCIATION as Trustee.

PRELIMINARY STATEMENT:

The Depositor intends to sell pass-through certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in each REMIC (as defined herein) created hereunder. The Trust Fund will consist of a segregated pool of assets comprised of the Mortgage Loans and certain other related assets subject to this Agreement.

REMIC I

As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than the Net WAC Rate Carryover Reserve Account, the Swap Account, the Supplemental Interest Trust, the Interest Rate Swap Agreement, , the Cap Contract, the Cap Account, any Originator Prepayment Charge Payment Amounts and any Servicer Prepayment Charge Payment Amounts) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I.” The Class R-I Interest will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the REMIC I Remittance Rate, the initial Uncertificated Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interests (as defined herein). None of the REMIC I Regular Interests will be certificated.

Designation	REMIC I Remittance Rate	Initial Uncertificated Balance		Latest Possible Maturity Date ⁽¹⁾
I	Variable ⁽²⁾	$	183.59	July 25, 2036
I-1-A	Variable ⁽²⁾	$	1,474,571.40	July 25, 2036
I-1-B	Variable ⁽²⁾	$	1,474,571.40	July 25, 2036
I-2-A	Variable ⁽²⁾	$	1,824,392.43	July 25, 2036
I-2-B	Variable ⁽²⁾	$	1,824,392.43	July 25, 2036
I-3-A	Variable ⁽²⁾	$	2,172,981.26	July 25, 2036
I-3-B	Variable ⁽²⁾	$	2,172,981.26	July 25, 2036
I-4-A	Variable ⁽²⁾	$	2,514,669.77	July 25, 2036
I-4-B	Variable ⁽²⁾	$	2,514,669.77	July 25, 2036
I-5-A	Variable ⁽²⁾	$	2,848,225.78	July 25, 2036
I-5-B	Variable ⁽²⁾	$	2,848,225.78	July 25, 2036
I-6-A	Variable ⁽²⁾	$	3,167,981.18	July 25, 2036
I-6-B	Variable ⁽²⁾	$	3,167,981.18	July 25, 2036
I-7-A	Variable ⁽²⁾	$	3,472,703.75	July 25, 2036
I-7-B	Variable ⁽²⁾	$	3,472,703.75	July 25, 2036
I-8-A	Variable ⁽²⁾	$	3,756,232.53	July 25, 2036
I-8-B	Variable ⁽²⁾	$	3,756,232.53	July 25, 2036
I-9-A	Variable ⁽²⁾	$	3,948,208.98	July 25, 2036
I-9-B	Variable ⁽²⁾	$	3,948,208.98	July 25, 2036
I-10-A	Variable ⁽²⁾	$	3,762,639.96	July 25, 2036
I-10-B	Variable ⁽²⁾	$	3,762,639.96	July 25, 2036
I-11-A	Variable ⁽²⁾	$	3,586,189.19	July 25, 2036
I-11-B	Variable ⁽²⁾	$	3,586,189.19	July 25, 2036
I-12-A	Variable ⁽²⁾	$	3,417,747.72	July 25, 2036
I-12-B	Variable ⁽²⁾	$	3,417,747.72	July 25, 2036
I-13-A	Variable ⁽²⁾	$	3,257,561.98	July 25, 2036
I-13-B	Variable ⁽²⁾	$	3,257,561.98	July 25, 2036
I-14-A	Variable ⁽²⁾	$	3,104,892.64	July 25, 2036
I-14-B	Variable ⁽²⁾	$	3,104,892.64	July 25, 2036
I-15-A	Variable ⁽²⁾	$	2,959,370.05	July 25, 2036
I-15-B	Variable ⁽²⁾	$	2,959,370.05	July 25, 2036
I-16-A	Variable ⁽²⁾	$	2,820,870.99	July 25, 2036
I-16-B	Variable ⁽²⁾	$	2,820,870.99	July 25, 2036
I-17-A	Variable ⁽²⁾	$	2,688,779.36	July 25, 2036
I-17-B	Variable ⁽²⁾	$	2,688,779.36	July 25, 2036
I-18-A	Variable ⁽²⁾	$	2,562,971.94	July 25, 2036
I-18-B	Variable ⁽²⁾	$	2,562,971.94	July 25, 2036
I-19-A	Variable ⁽²⁾	$	2,737,944.06	July 25, 2036
I-19-B	Variable ⁽²⁾	$	2,737,944.06	July 25, 2036
I-20-A	Variable ⁽²⁾	$	4,715,868.36	July 25, 2036
I-20-B	Variable ⁽²⁾	$	4,715,868.36	July 25, 2036
I-21-A	Variable ⁽²⁾	$	4,227,548.28	July 25, 2036
I-21-B	Variable ⁽²⁾	$	4,227,548.28	July 25, 2036
I-22-A	Variable ⁽²⁾	$	3,788,392.89	July 25, 2036
I-22-B	Variable ⁽²⁾	$	3,788,392.89	July 25, 2036
I-23-A	Variable ⁽²⁾	$	3,399,757.63	July 25, 2036
I-23-B	Variable ⁽²⁾	$	3,399,757.63	July 25, 2036
I-24-A	Variable ⁽²⁾	$	2,918,953.95	July 25, 2036
I-24-B	Variable ⁽²⁾	$	2,918,953.95	July 25, 2036
I-25-A	Variable ⁽²⁾	$	1,662,111.95	July 25, 2036
I-25-B	Variable ⁽²⁾	$	1,662,111.95	July 25, 2036
I-26-A	Variable ⁽²⁾	$	1,569,697.09	July 25, 2036
I-26-B	Variable ⁽²⁾	$	1,569,697.09	July 25, 2036
I-27-A	Variable ⁽²⁾	$	1,482,334.25	July 25, 2036
I-27-B	Variable ⁽²⁾	$	1,482,334.25	July 25, 2036
I-28-A	Variable ⁽²⁾	$	1,398,791.22	July 25, 2036
I-28-B	Variable ⁽²⁾	$	1,398,791.22	July 25, 2036
I-29-A	Variable ⁽²⁾	$	1,321,532.40	July 25, 2036
I-29-B	Variable ⁽²⁾	$	1,321,532.40	July 25, 2036
I-30-A	Variable ⁽²⁾	$	1,248,463.06	July 25, 2036
I-30-B	Variable ⁽²⁾	$	1,248,463.06	July 25, 2036
I-31-A	Variable ⁽²⁾	$	1,179,706.41	July 25, 2036
I-31-B	Variable ⁽²⁾	$	1,179,706.41	July 25, 2036
I-32-A	Variable ⁽²⁾	$	1,114,892.79	July 25, 2036
I-32-B	Variable ⁽²⁾	$	1,114,892.79	July 25, 2036
I-33-A	Variable ⁽²⁾	$	1,053,529.33	July 25, 2036
I-33-B	Variable ⁽²⁾	$	1,053,529.33	July 25, 2036
I-34-A	Variable ⁽²⁾	$	995,862.46	July 25, 2036
I-34-B	Variable ⁽²⁾	$	995,862.46	July 25, 2036
I-35-A	Variable ⁽²⁾	$	941,399.31	July 25, 2036
I-35-B	Variable ⁽²⁾	$	941,399.31	July 25, 2036
I-36-A	Variable ⁽²⁾	$	890,016.65	July 25, 2036
I-36-B	Variable ⁽²⁾	$	890,016.65	July 25, 2036
I-37-A	Variable ⁽²⁾	$	841,714.49	July 25, 2036
I-37-B	Variable ⁽²⁾	$	841,714.49	July 25, 2036
I-38-A	Variable ⁽²⁾	$	795,876.72	July 25, 2036
I-38-B	Variable ⁽²⁾	$	795,876.72	July 25, 2036
I-39-A	Variable ⁽²⁾	$	752,749.79	July 25, 2036
I-39-B	Variable ⁽²⁾	$	752,749.79	July 25, 2036
I-40-A	Variable ⁽²⁾	$	712,087.25	July 25, 2036
I-40-B	Variable ⁽²⁾	$	712,087.25	July 25, 2036
I-41-A	Variable ⁽²⁾	$	673,642.67	July 25, 2036
I-41-B	Variable ⁽²⁾	$	673,642.67	July 25, 2036
I-42-A	Variable ⁽²⁾	$	637,416.05	July 25, 2036
I-42-B	Variable ⁽²⁾	$	637,416.05	July 25, 2036
I-43-A	Variable ⁽²⁾	$	603,160.94	July 25, 2036
I-43-B	Variable ⁽²⁾	$	603,160.94	July 25, 2036
I-44-A	Variable ⁽²⁾	$	570,877.35	July 25, 2036
I-44-B	Variable ⁽²⁾	$	570,877.35	July 25, 2036
I-45-A	Variable ⁽²⁾	$	540,318.84	July 25, 2036
I-45-B	Variable ⁽²⁾	$	540,318.84	July 25, 2036
I-46-A	Variable ⁽²⁾	$	511,608.63	July 25, 2036
I-46-B	Variable ⁽²⁾	$	511,608.63	July 25, 2036
I-47-A	Variable ⁽²⁾	$	484,377.05	July 25, 2036
I-47-B	Variable ⁽²⁾	$	484,377.05	July 25, 2036
I-48-A	Variable ⁽²⁾	$	458,624.11	July 25, 2036
I-48-B	Variable ⁽²⁾	$	458,624.11	July 25, 2036
I-49-A	Variable ⁽²⁾	$	434,349.81	July 25, 2036
I-49-B	Variable ⁽²⁾	$	434,349.81	July 25, 2036
I-50-A	Variable ⁽²⁾	$	411,554.15	July 25, 2036
I-50-B	Variable ⁽²⁾	$	411,554.15	July 25, 2036
I-51-A	Variable ⁽²⁾	$	389,744.24	July 25, 2036
I-51-B	Variable ⁽²⁾	$	389,744.24	July 25, 2036
I-52-A	Variable ⁽²⁾	$	369,412.97	July 25, 2036
I-52-B	Variable ⁽²⁾	$	369,412.97	July 25, 2036
I-53-A	Variable ⁽²⁾	$	349,944.25	July 25, 2036
I-53-B	Variable ⁽²⁾	$	349,944.25	July 25, 2036
I-54-A	Variable ⁽²⁾	$	331,707.71	July 25, 2036
I-54-B	Variable ⁽²⁾	$	331,707.71	July 25, 2036
I-55-A	Variable ⁽²⁾	$	314,456.94	July 25, 2036
I-55-B	Variable ⁽²⁾	$	314,456.94	July 25, 2036
I-56-A	Variable ⁽²⁾	$	298,191.93	July 25, 2036
I-56-B	Variable ⁽²⁾	$	298,191.93	July 25, 2036
I-57-A	Variable ⁽²⁾	$	282,912.67	July 25, 2036
I-57-B	Variable ⁽²⁾	$	282,912.67	July 25, 2036
I-58-A	Variable ⁽²⁾	$	268,249.51	July 25, 2036
I-58-B	Variable ⁽²⁾	$	268,249.51	July 25, 2036
I-59-A	Variable ⁽²⁾	$	254,448.90	July 25, 2036
I-59-B	Variable ⁽²⁾	$	254,448.90	July 25, 2036
I-60-A	Variable ⁽²⁾	$	5,016,155.03	July 25, 2036
I-60-B	Variable ⁽²⁾	$	5,016,155.03	July 25, 2036
II	Variable ⁽²⁾	$	561.36	July 25, 2036
II-1-A	Variable ⁽²⁾	$	4,508,928.60	July 25, 2036
II-1-B	Variable ⁽²⁾	$	4,508,928.60	July 25, 2036
II-2-A	Variable ⁽²⁾	$	5,578,607.57	July 25, 2036
II-2-B	Variable ⁽²⁾	$	5,578,607.57	July 25, 2036
II-3-A	Variable ⁽²⁾	$	6,644,518.74	July 25, 2036
II-3-B	Variable ⁽²⁾	$	6,644,518.74	July 25, 2036
II-4-A	Variable ⁽²⁾	$	7,689,330.23	July 25, 2036
II-4-B	Variable ⁽²⁾	$	7,689,330.23	July 25, 2036
II-5-A	Variable ⁽²⁾	$	8,709,274.22	July 25, 2036
II-5-B	Variable ⁽²⁾	$	8,709,274.22	July 25, 2036
II-6-A	Variable ⁽²⁾	$	9,687,018.82	July 25, 2036
II-6-B	Variable ⁽²⁾	$	9,687,018.82	July 25, 2036
II-7-A	Variable ⁽²⁾	$	10,618,796.25	July 25, 2036
II-7-B	Variable ⁽²⁾	$	10,618,796.25	July 25, 2036
II-8-A	Variable ⁽²⁾	$	11,485,767.47	July 25, 2036
II-8-B	Variable ⁽²⁾	$	11,485,767.47	July 25, 2036
II-9-A	Variable ⁽²⁾	$	12,072,791.02	July 25, 2036
II-9-B	Variable ⁽²⁾	$	12,072,791.02	July 25, 2036
II-10-A	Variable ⁽²⁾	$	11,505,360.04	July 25, 2036
II-10-B	Variable ⁽²⁾	$	11,505,360.04	July 25, 2036
II-11-A	Variable ⁽²⁾	$	10,965,810.81	July 25, 2036
II-11-B	Variable ⁽²⁾	$	10,965,810.81	July 25, 2036
II-12-A	Variable ⁽²⁾	$	10,450,752.28	July 25, 2036
II-12-B	Variable ⁽²⁾	$	10,450,752.28	July 25, 2036
II-13-A	Variable ⁽²⁾	$	9,960,938.02	July 25, 2036
II-13-B	Variable ⁽²⁾	$	9,960,938.02	July 25, 2036
II-14-A	Variable ⁽²⁾	$	9,494,107.36	July 25, 2036
II-14-B	Variable ⁽²⁾	$	9,494,107.36	July 25, 2036
II-15-A	Variable ⁽²⁾	$	9,049,129.95	July 25, 2036
II-15-B	Variable ⁽²⁾	$	9,049,129.95	July 25, 2036
II-16-A	Variable ⁽²⁾	$	8,625,629.01	July 25, 2036
II-16-B	Variable ⁽²⁾	$	8,625,629.01	July 25, 2036
II-17-A	Variable ⁽²⁾	$	8,221,720.64	July 25, 2036
II-17-B	Variable ⁽²⁾	$	8,221,720.64	July 25, 2036
II-18-A	Variable ⁽²⁾	$	7,837,028.06	July 25, 2036
II-18-B	Variable ⁽²⁾	$	7,837,028.06	July 25, 2036
II-19-A	Variable ⁽²⁾	$	8,372,055.94	July 25, 2036
II-19-B	Variable ⁽²⁾	$	8,372,055.94	July 25, 2036
II-20-A	Variable ⁽²⁾	$	14,420,131.64	July 25, 2036
II-20-B	Variable ⁽²⁾	$	14,420,131.64	July 25, 2036
II-21-A	Variable ⁽²⁾	$	12,926,951.72	July 25, 2036
II-21-B	Variable ⁽²⁾	$	12,926,951.72	July 25, 2036
II-22-A	Variable ⁽²⁾	$	11,584,107.11	July 25, 2036
II-22-B	Variable ⁽²⁾	$	11,584,107.11	July 25, 2036
II-23-A	Variable ⁽²⁾	$	10,395,742.37	July 25, 2036
II-23-B	Variable ⁽²⁾	$	10,395,742.37	July 25, 2036
II-24-A	Variable ⁽²⁾	$	8,925,546.05	July 25, 2036
II-24-B	Variable ⁽²⁾	$	8,925,546.05	July 25, 2036
II-25-A	Variable ⁽²⁾	$	5,082,388.05	July 25, 2036
II-25-B	Variable ⁽²⁾	$	5,082,388.05	July 25, 2036
II-26-A	Variable ⁽²⁾	$	4,799,802.91	July 25, 2036
II-26-B	Variable ⁽²⁾	$	4,799,802.91	July 25, 2036
II-27-A	Variable ⁽²⁾	$	4,532,665.75	July 25, 2036
II-27-B	Variable ⁽²⁾	$	4,532,665.75	July 25, 2036
II-28-A	Variable ⁽²⁾	$	4,277,208.78	July 25, 2036
II-28-B	Variable ⁽²⁾	$	4,277,208.78	July 25, 2036
II-29-A	Variable ⁽²⁾	$	4,040,967.60	July 25, 2036
II-29-B	Variable ⁽²⁾	$	4,040,967.60	July 25, 2036
II-30-A	Variable ⁽²⁾	$	3,817,536.94	July 25, 2036
II-30-B	Variable ⁽²⁾	$	3,817,536.94	July 25, 2036
II-31-A	Variable ⁽²⁾	$	3,607,293.59	July 25, 2036
II-31-B	Variable ⁽²⁾	$	3,607,293.59	July 25, 2036
II-32-A	Variable ⁽²⁾	$	3,409,107.21	July 25, 2036
II-32-B	Variable ⁽²⁾	$	3,409,107.21	July 25, 2036
II-33-A	Variable ⁽²⁾	$	3,221,470.67	July 25, 2036
II-33-B	Variable ⁽²⁾	$	3,221,470.67	July 25, 2036
II-34-A	Variable ⁽²⁾	$	3,045,137.54	July 25, 2036
II-34-B	Variable ⁽²⁾	$	3,045,137.54	July 25, 2036
II-35-A	Variable ⁽²⁾	$	2,878,600.69	July 25, 2036
II-35-B	Variable ⁽²⁾	$	2,878,600.69	July 25, 2036
II-36-A	Variable ⁽²⁾	$	2,721,483.35	July 25, 2036
II-36-B	Variable ⁽²⁾	$	2,721,483.35	July 25, 2036
II-37-A	Variable ⁽²⁾	$	2,573,785.51	July 25, 2036
II-37-B	Variable ⁽²⁾	$	2,573,785.51	July 25, 2036
II-38-A	Variable ⁽²⁾	$	2,433,623.28	July 25, 2036
II-38-B	Variable ⁽²⁾	$	2,433,623.28	July 25, 2036
II-39-A	Variable ⁽²⁾	$	2,301,750.21	July 25, 2036
II-39-B	Variable ⁽²⁾	$	2,301,750.21	July 25, 2036
II-40-A	Variable ⁽²⁾	$	2,177,412.75	July 25, 2036
II-40-B	Variable ⁽²⁾	$	2,177,412.75	July 25, 2036
II-41-A	Variable ⁽²⁾	$	2,059,857.33	July 25, 2036
II-41-B	Variable ⁽²⁾	$	2,059,857.33	July 25, 2036
II-42-A	Variable ⁽²⁾	$	1,949,083.95	July 25, 2036
II-42-B	Variable ⁽²⁾	$	1,949,083.95	July 25, 2036
II-43-A	Variable ⁽²⁾	$	1,844,339.06	July 25, 2036
II-43-B	Variable ⁽²⁾	$	1,844,339.06	July 25, 2036
II-44-A	Variable ⁽²⁾	$	1,745,622.65	July 25, 2036
II-44-B	Variable ⁽²⁾	$	1,745,622.65	July 25, 2036
II-45-A	Variable ⁽²⁾	$	1,652,181.16	July 25, 2036
II-45-B	Variable ⁽²⁾	$	1,652,181.16	July 25, 2036
II-46-A	Variable ⁽²⁾	$	1,564,391.37	July 25, 2036
II-46-B	Variable ⁽²⁾	$	1,564,391.37	July 25, 2036
II-47-A	Variable ⁽²⁾	$	1,481,122.95	July 25, 2036
II-47-B	Variable ⁽²⁾	$	1,481,122.95	July 25, 2036
II-48-A	Variable ⁽²⁾	$	1,402,375.89	July 25, 2036
II-48-B	Variable ⁽²⁾	$	1,402,375.89	July 25, 2036
II-49-A	Variable ⁽²⁾	$	1,328,150.19	July 25, 2036
II-49-B	Variable ⁽²⁾	$	1,328,150.19	July 25, 2036
II-50-A	Variable ⁽²⁾	$	1,258,445.85	July 25, 2036
II-50-B	Variable ⁽²⁾	$	1,258,445.85	July 25, 2036
II-51-A	Variable ⁽²⁾	$	1,191,755.76	July 25, 2036
II-51-B	Variable ⁽²⁾	$	1,191,755.76	July 25, 2036
II-52-A	Variable ⁽²⁾	$	1,129,587.03	July 25, 2036
II-52-B	Variable ⁽²⁾	$	1,129,587.03	July 25, 2036
II-53-A	Variable ⁽²⁾	$	1,070,055.75	July 25, 2036
II-53-B	Variable ⁽²⁾	$	1,070,055.75	July 25, 2036
II-54-A	Variable ⁽²⁾	$	1,014,292.29	July 25, 2036
II-54-B	Variable ⁽²⁾	$	1,014,292.29	July 25, 2036
II-55-A	Variable ⁽²⁾	$	961,543.06	July 25, 2036
II-55-B	Variable ⁽²⁾	$	961,543.06	July 25, 2036
II-56-A	Variable ⁽²⁾	$	911,808.07	July 25, 2036
II-56-B	Variable ⁽²⁾	$	911,808.07	July 25, 2036
II-57-A	Variable ⁽²⁾	$	865,087.33	July 25, 2036
II-57-B	Variable ⁽²⁾	$	865,087.33	July 25, 2036
II-58-A	Variable ⁽²⁾	$	820,250.49	July 25, 2036
II-58-B	Variable ⁽²⁾	$	820,250.49	July 25, 2036
II-59-A	Variable ⁽²⁾	$	778,051.10	July 25, 2036
II-59-B	Variable ⁽²⁾	$	778,051.10	July 25, 2036
II-60-A	Variable ⁽²⁾	$	15,338,344.97	July 25, 2036
II-60-B	Variable ⁽²⁾	$	15,338,344.97	July 25, 2036

________________________

	⁽¹⁾	For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC I Regular Interest.

	⁽²⁾	Calculated in accordance with the definition of “REMIC I Remittance Rate” herein.

REMIC II

As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC II.” The Class R-II Interest will evidence the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the REMIC II Remittance Rate, the initial Uncertificated Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC II Regular Interests (as defined herein). None of the REMIC II Regular Interests will be certificated.

Designation	REMIC I Remittance Rate	Initial Uncertificated Balance	Latest Possible Maturity Date ⁽¹⁾
II-LTAA	Variable ⁽²⁾	$ 422,682,156.03	July 25, 2036
II-LTA1	Variable ⁽²⁾	$ 806,750.00	July 25, 2036
II-LTA2	Variable ⁽²⁾	$ 1,395,000.00	July 25, 2036
II-LTA3	Variable ⁽²⁾	$ 408,500.00	July 25, 2036
II-LTA4	Variable ⁽²⁾	$ 480,000.00	July 25, 2036
II-LTA5	Variable ⁽²⁾	$ 183,380.00	July 25, 2036
II-LTM1	Variable ⁽²⁾	$ 170,365.00	July 25, 2036
II-LTM2	Variable ⁽²⁾	$ 215,655.00	July 25, 2036
II-LTM3	Variable ⁽²⁾	$ 73,320.00	July 25, 2036
II-LTM4	Variable ⁽²⁾	$ 81,945.00	July 25, 2036
II-LTM5	Variable ⁽²⁾	$ 79,790.00	July 25, 2036
II-LTM6	Variable ⁽²⁾	$ 58,225.00	July 25, 2036
II-LTM7	Variable ⁽²⁾	$ 64,695.00	July 25, 2036
II-LTM8	Variable ⁽²⁾	$ 47,440.00	July 25, 2036
II-LTM9	Variable ⁽²⁾	$ 56,070.00	July 25, 2036
II-LTM10	Variable ⁽²⁾	$ 66,850.00	July 25, 2036
II-LTM11	Variable ⁽²⁾	$ 53,910.00	July 25, 2036
II-LTZZ	Variable ⁽²⁾	$ 4,384,271.45	July 25, 2036
II-LTP	Variable ⁽²⁾	$ 100.00	July 25, 2036
II-LT1SUB	Variable ⁽²⁾	$ 5,123.28	July 25, 2036
II-LT1GRP	Variable ⁽²⁾	$ 21,258.29	July 25, 2036
II-LT2SUB	Variable ⁽²⁾	$ 15,665.78	July 25, 2036
II-LT2GRP	Variable ⁽²⁾	$ 65,003.38	July 25, 2036
II-LTXX	Variable ⁽²⁾	$ 431,201,271.74	July 25, 2036
II-LTIO	Variable ⁽²⁾	$ 5,123.28	July 25, 2036

________________

⁽¹⁾	For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC II Regular Interest.

⁽²⁾	Calculated in accordance with the definition of “REMIC II Remittance Rate” herein.

⁽³⁾	REMIC II Regular Interest II-LTIO will not have an Uncertificated Balance, but will accrue interest on its Uncertificated Notional Amount.

REMIC III

As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC III.” The Class R-III Interest will evidence the sole class of “residual interests” in REMIC III for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, the initial aggregate Certificate Principal Balance and, for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for the indicated Classes of Certificates.

Each Certificate, other than the Class P Certificate, the Class CE Certificate, the Class R Certificates and the Class R-X Certificates, represents ownership of a Regular Interest in REMIC III and also represents (i) the right to receive payments with respect to the Net WAC Rate Carryover Amount (as defined herein) and (